N-CSR 1 d179378dncsr.htm RIDGEWORTH FUNDS Ridgeworth Funds
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-CSR

 

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-06557

 

 

RidgeWorth Funds

(Exact name of registrant as specified in charter)

 

 

RidgeWorth Capital Management LLC

3333 Piedmont Road, Suite 1500

Atlanta, GA 30305

(Address of principal executive offices)(Zip code)

 

 

 

(Name and Address of Agent for Service)    Copy to:

Julia R. Short

RidgeWorth Funds

3333 Piedmont Road, Suite 1500

Atlanta, GA 30305

   

W. John McGuire, Esq.

Thomas S. Harman, Esq.

Morgan, Lewis & Bockius LLP

1111 Pennsylvania Avenue, NW

Washington, DC 20004

 

 

Registrant’s telephone number, including area code: 1-888-784-3863

Date of fiscal year end: March 31

Date of reporting period: March 31, 2016

 

 

 

Table of Contents

Item 1. Reports to Shareholders.

Table of Contents

LOGO

 

2016 ANNUAL REPORT

EQUITY FUNDS

MARCH 31, 2016

 

LOGO

 

RidgeWorth Investments is the trade name of RidgeWorth Capital Management LLC.

Table of Contents

TABLE OF CONTENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Letter to Shareholders      1   
Management Discussion of Fund Performance   
Equity Funds:   

Aggressive Growth Stock Fund

      2   

Capital Innovations Global Resources and Infrastructure Fund

     4   

International Equity Fund

      6   

Large Cap Growth Stock Fund

      8   

Large Cap Value Equity Fund

      10   

Mid-Cap Value Equity Fund

      12   

Small Cap Growth Stock Fund

      14   

Small Cap Value Equity Fund

      16   
Allocation Strategies:   

Aggressive Growth Allocation Strategy

      18   

Conservative Allocation Strategy

      20   

Growth Allocation Strategy

      22   

Moderate Allocation Strategy

      24   
Financial Statements   
Schedules of Portfolio Investments      26   
Statements of Assets and Liabilities      43   
Statements of Operations      46   
Statements of Changes in Net Assets      50   
Financial Highlights      55   
Notes to Financial Statements      62   
Report of Independent Registered Public Accounting Firm      83   
Other Information   
Other Federal Tax Information      84   
Trustees and Officers of the RidgeWorth Funds      86   
Additional Information      91   

 

Table of Contents

LETTER TO SHAREHOLDERS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Dear Valued Shareholder,

We sincerely thank you for your continued business and support. Our primary objective is to help you achieve your investment goals, and we’re grateful you have placed your confidence in us. We aim to earn your trust through competitive investment performance and excellent client service. We hope we have met your expectations in both of these measures, and we look forward to continuing to serve as your asset manager in the months and years to come.

During the 12 months through March 31, 2016, the U.S. economy continued to grow, albeit at a slower pace than last year. The U.S. Federal Reserve in December 2015 took its first steps toward unwinding its long-running stimulus efforts, raising the federal funds rate by 25 basis points. However, the relatively weak improvement of the U.S. economy suggests that the Fed will move slowly to raise interest rates in the near term.

Two major themes during the period were the sharp decline in commodity prices and the strength of the U.S. dollar. These factors caused corporate earnings to struggle, posing headwinds for stocks. However, these headwinds currently appear to be ebbing as commodity prices—particularly the price of oil—have rebounded and the dollar has given back some of the considerable gains experienced since 2014.

Outside the U.S., countries such as China and Brazil struggled to realign economic priorities, contain excess debt and limit political turmoil, while slow economic growth challenged the euro zone. Central banks in many international markets adopted increasingly aggressive stimulus measures. We remain concerned that monetary policies abroad may be nearing the limits of their effectiveness, and we believe the decision by the European Central Bank and other central banks to push interest rates into uncharted negative territory has the potential to disrupt the global economy. We do expect, however, international developed markets to continue to recover, due in part to the continued strength of the U.S. economy, which is shouldering much of the burden of the global economic recovery.

Looking ahead, we believe bond yields will remain relatively low, but the Fed’s intention is to normalize monetary policy. The decline in commodity prices stoked concerns about certain bond issuers over the past year, especially those in the energy sector. This year will be key in terms of observing which ones will be able to service their debt.

Our outlook for the equity markets remains favorable, but with increased volatility due to the presidential race and global macro-headlines. We see opportunities in all equity styles. Finally, we continue to believe that a gradually firming economic environment will offer fresh opportunities to selective investors. We expect this opportunistic environment should mesh well with RidgeWorth’s bottom-up approach to security selection. We at RidgeWorth wish to thank you again for the trust and confidence you have placed in us, and we look forward to another successful year together.

Sincerely,

 

LOGO

Ashi Parikh

Chief Executive Officer, Chief Investment Officer

RidgeWorth Investments

 

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AGGRESSIVE GROWTH STOCK FUND

 

 

Portfolio Managers

 

•   Nancy Zevenbergen, CFA, CIC
•   Brooke de Boutray, CFA, CIC
•   Leslie Tubbs, CFA, CIC

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

Small- and mid-capitalization funds typically carry additional risks as smaller companies generally have a higher risk of failure.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Aggressive Growth Stock Fund (I Shares) returned -4.74%. That compared to a 1.34% return for the Russell 3000® Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Global and domestic economic mayhem created two record-level spikes in equity volatility during the 12-month period. The Fund’s higher beta holdings bore the brunt of selling pressure. While the Fund rebounded significantly two out of four quarters, gains were not enough to compensate for the remaining quarters’ weakness, and absolute returns suffered during the 12 months through March 31, 2016.

The Fund’s underperformance relative to its benchmark was attributable to active stock selection in the financial services, healthcare and technology sectors. Consumer discretionary holdings added positive excess returns.

Among the Fund’s key detractors: XPO Logistics, Inc., underperformed amid negative response to acquisitions and exposure to the industrial business cycle. Chinese macroeconomic issues and competitor-related concerns were reflected in Vipshop Holdings Limited share performance. While concerns over possible legal and regulatory issues pressured shares of LendingClub Corporation.

Key contributors to relative returns included the following: Netflix, Inc., exceeded domestic and international subscriber guidance, while delivering profitability in new markets. Amazon.com, Inc., achieved record revenues through growth in web services, fulfillment and third-party seller participation. Tesla Motors, Inc., shares advanced on unit volume growth, ahead-of-schedule build-out for its Gigafactory and anticipation of its Model 3 automobile debut.

How do you plan to position the Fund, based on market conditions?

Underperformance in the Fund does not necessarily lead us to make position changes as we continue to focus on company fundamentals. Many of the same companies that underperformed during the past year are still in the portfolio, and given the pull-back in stock prices, represent good potential drivers to future returns.

In times of significant stock volatility, we find great comfort in companies with excellent management teams— especially those that are founder-led. These companies tend to be more innovative, likely to make bold investments to renew or adapt business models and demonstrate a willingness to take risk to invent the future. An owner’s mindset is imperative, with speed to act and personal responsibility for risk and cost—a key strategic asset. Nearly 70% of the Fund’s holdings have founders among its leadership teams.

Investors likely still harbor excessive pessimism: Recent short interest figures are higher than the March 2009 nadir. As yet another panic and recovery demonstrates, the price of overreaction—and non-participation—may be the difference between exceeding objectives and being left in the dust. Invest with conviction.

 

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AGGRESSIVE GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 3000® Growth Index, which measures the performance of the broad growth segment of the U.S. equity universe. It includes those Russell 3000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

 

           Average Annual Total Returns as of 3/31/16  
Aggressive Growth Stock Fund         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –4.96%           12.51%           6.92%           6.96%   
     with sales charge*     –10.44%           10.32%           5.66%           6.33%   

I Shares

          –4.74%           12.72%           7.15%           7.23%   
Russell 3000® Growth Index          1.34%           13.16%           12.00%           8.09%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.45%   
I Shares                                           1.34%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.50% and 1.30% for A and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75%.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

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CAPITAL INNOVATIONS GLOBAL RESOURCES AND INFRASTRUCTURE FUND

 

 

Portfolio Managers

 

•   Michael D. Underhill
•   Susan L. Dambekaln

 

 

INVESTMENT CONCERNS

 

Companies within the infrastructure, agribusiness and timber industries are susceptible to adverse economic or regulatory factors which may affect the Fund’s performance.

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

Small- and Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Large-capitalization stocks can perform differently from other segments of the equity market or the equity market as a whole. Large capitalization companies may be less flexible in evolving markets or unable to implement change as quickly as smaller capitalization companies.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the period ended March 31, 2016?

The Capital Innovations Global Resources and Infrastructure Fund (I Shares) delivered a -20.48% return. That compared to a -15.30% return for the S&P Global Natural Resources Index.

What factors influenced the Fund’s performance for the period ended March 31, 2016?

The U.S. dollar gained against most major currencies during the period under review, while commodity prices declined substantially. Oil prices in particular declined sharply; major Middle East oil-producing nations maintained production levels while North American drillers decreased output. This environment contributed to the Fund’s negative absolute returns.

The Fund’s relative performance was hurt by an overweight position in the paper and forest products industry, which was impacted by investors’ fears about falling prices. Exposure to cyclical commodities also detracted from performance, as fertilizers, containerboard and timber came under pressure during the first three quarters of the period. In particular, oversupply of fertilizer, especially in China and India, pushed down fertilizer producers’ valuations. Exposure to shares of a global energy firm detracted from relative performance, as concerns mounted over its long-term earnings ability. An investment in a Texas energy infrastructure company also dragged on the Fund’s returns, as its shares declined following a dividend cut in response to the falling price of crude oil.

An underweight position in metals and mining stocks—part of the materials sector—helped the Fund’s relative returns. That said, the Fund benefited from an overweight position in a Canadian gold mining firm, as fears about a potential global recession drove up prices for gold and shares of gold-mining firms. An underweight position in a multinational metals, mining and petroleum firm also helped performance relative to the benchmark, as the company’s shares dropped following an accident at one of its facilities. In addition, an underweight position in a diversified metals and commodities producer aided relative performance, as investors grew concerned about the firm’s ability to repay its debt.

How do you plan to position the Fund, based on market conditions?

We remain moderately upbeat about the global economic outlook, even as investor skepticism remains widespread. We expect industrial production growth to solidify gradually over the next several months, which we believe will provide a tailwind for commodity demand and prices. In addition, as global growth concerns dwindle we expect commodity prices to move higher.

Our research indicates that we are in the later stages of the economic cycle. As a result, inflation may become more of a concern going forward. Within this framework, sectors such as energy and commodities tend to benefit.

 

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CAPITAL INNOVATIONS GLOBAL RESOURCES AND INFRASTRUCTURE FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 9/28/12 (inception date of Predecessor Fund). Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the S&P Global Natural Resources Index. S&P Global Natural Resources Sector Index includes 90 of the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability requirements, offering investors diversified and investable equity exposure across three primary commodity-related sectors: agribusiness, energy, and metals & mining. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of  3/31/16  
Capital Innovations Global Resources and Infrastructure Fund         1 Year      3 Year        Since
Inception		  

A Shares

    without sales charge   –20.60%        –4.91%           –1.63%   
     with sales charge*   –25.18%        –6.77%           –3.27%   

C Shares

    without CDSC   –21.25%        –5.64%           –2.37%   
     with CDSC*   –22.02%        –5.64%           –2.37%   

I Shares

        –20.48%        –4.70%           –1.39%   
S&P Global Natural Resources Index        –15.30%        –8.78%           –7.65%   
                                
Prospectus Expense Ratio1                           Gross  
A Shares                            2.73%   
C Shares                            3.33%   
I Shares                            2.48%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.40%, 2.15% and 1.15% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

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INTERNATIONAL EQUITY FUND

 

 

Portfolio Managers

 

•   Paul R. Black
•   Peter J. Hunkel
•   Michael B. Trigg
•   Kurt R. Winrich

 

 

INVESTMENT CONCERNS

 

International investing involves increased risk and volatility.

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The International Equity Fund (I Shares) delivered a -1.59% return. That compared to a -9.19% for the MSCI ACWI Ex-U.S. Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

International equity markets generally declined during the period under review. Concerns about the health of the euro zone economy prompted the European Central Bank (ECB) to strengthen stimulus measures intended to spur economic growth. Other central banks around the world, including in China and Japan, also adopted stimulus measures to prop up weak economies. Meanwhile, flagging commodity prices, including sharp declines in the price of oil, put pressure on emerging markets. The U.S. dollar gained against most major currencies, and U.S. stocks outperformed international stocks. In this environment, strong stock selection helped the Fund post positive absolute returns.

The Fund’s relative performance also benefited from effective stock selection. Individual holdings in the health care, information technology and materials sectors particularly helped the Fund out-perform its benchmark. Shares of two Danish companies generated especially strong results. One, a developer of natural ingredients, enjoyed strong demand for its products, especially animal feed; the other, a provider of kidney, gastroenterology, and other intimate health care products and services, debuted a new product in collaboration with another Danish medical technology company. A Canadian software company and a Japanese electronics manufacturer also boosted the Fund’s relative return.

The Fund’s bottom-up structural biases—underweight positions in the financial and energy sectors, and overweight positions in information technology and consumer staples—benefited its return relative to the benchmark. Consumer staples was the best-performing sector in the index, while financial services was the second-worst.

The Fund’s relative performance was dampened by the selection of industrial stocks, chiefly exposure to a Dutch manufacturer of sensors and to a Canadian railway line that failed in its acquisition bid of an American railroad. From a sector perspective, our overweight position in health care and underweight position in telecommunications and utilities softened the Fund’s performance.

How do you plan to position the Fund, based on market conditions?

The firm plans to maintain its bottom-up sector biases, with an overweight position in information technology, health care, and consumer staples, and an underweight position in financial services, energy and telecommunications. We will continue to focus on stock selection through our bottom-up investment approach.

 

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INTERNATIONAL EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

Effective September 1, 2015 the benchmark index for the Fund changed from the Morgan Stanley Capital International Europe, Australasia and Far East (“MSCI EAFE”) Index to the Morgan Stanley Capital International All Country World Index excluding United States Index (“MSCI ACWI ex-U.S.”) in connection with the change of the Fund’s Subadviser and related investment strategy changes.

 

MSCI ACWI Ex-U.S. is a market capitalization-weighted index maintained by Morgan Stanley Capital International (MSCI) and designed to provide a broad measure of stock performance throughout the world, with the exception of U.S.-based companies. The MSCI All Country World Index Ex-U.S. includes both developed and emerging markets. MSCI EAFE Index is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. & Canada. The MSCI EAFE Index consists of 21 developed market country indices. EAFE performance data is calculated in U.S. dollars and in local currency.

 

           Average Annual Total Returns as of 3/31/16  
International Equity Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   –1.77%        3.81%           3.06%           1.86%   
     with sales charge*   –7.41%        1.79%           1.85%           1.26%   

I Shares

        –1.59%        3.91%           3.25%           2.10%   

IS Shares**

        –1.49%        3.95%           3.28%           2.11%   
Morgan Stanley MSCI ACWI Ex-U.S. Index        –9.19%        0.32%           0.31%           1.94%   
Morgan Stanley MSCI EAFE Index        –8.27%        2.23%           2.29%           1.80%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.57%   
I Shares                                       1.39%   
IS Shares                                       1.26%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least September 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.50%, 1.25% and 1.10% for A, I and IS Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75%.
** IS Shares were offered beginning on 9/1/15. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

7

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LARGE CAP GROWTH STOCK FUND

 

 

Portfolio Managers

 

•   Michael A. Sansoterra
•   Sandeep Bhatia, PhD, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

Small- and Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Large-capitalization stocks can perform differently from other segments of the equity market or the equity market as a whole. Large capitalization companies may be less flexible in evolving markets or unable to implement change as quickly as smaller capitalization companies.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Large Cap Growth Stock Fund (I Shares) returned -1.79%. That compared to a 2.52% return for the Russell 1000 Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

The period was marked by economic challenges both domestically and internationally. Investors worried about slowing economic growth in the U.S., Europe and China, as well as about volatile commodities prices and the U.S. Federal Reserve’s interest rate strategy. These factors contributed to record-level spikes in market volatility during the 12-month period. The Fund’s absolute returns suffered in this environment.

The majority of the Fund’s underperformance relative to the benchmark index was due to stock selection within the consumer staples, financials and healthcare sectors. The healthcare sector was the largest relative underperformer, as biotechnology stocks sold off amid election-year rhetoric about prescription drug price controls.

The Fund’s relative performance also suffered from lack of exposure to the telecommunications sector, which led sector performance during the period under review. An underweight position in consumer staples relative to the benchmark also dragged on performance. In addition, a position in a major financial services firm hurt relative returns.

How do you plan to position the Fund, based on market conditions?

The portfolio managers seek to eliminate investment results that are directly attributed to market conditions, and instead attempt to drive performance through stock selection. Therefore, the Fund will continue to invest in companies with reasonable valuations and improving fundamentals. Generally, we look for companies that have shown year-over-year increases in operating margins, revenue growth and return on incremental invested capital. By combining income statement, balance sheet and cash flow metrics to evaluate earnings quality, capital efficiency and relative valuations, we can avoid making investment decisions based on a single factor.

 

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LARGE CAP GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 1000® Growth Index, which measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

 

           Average Annual Total Returns as of 3/31/16  
Large Cap Growth Stock Fund         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –2.13%           12.59%           10.53%           7.33%   
     with sales charge*     –7.72%           10.40%           9.24%           6.70%   

C Shares

    without CDSC     –2.77%           11.87%           9.79%           6.60%   
     with CDSC*     –3.62%           11.87%           9.79%           6.60%   

I Shares

          –1.79%           12.89%           10.83%           7.64%   

IS Shares**

          –1.80%           12.92%           10.84%           7.65%   
Russell 1000® Growth Index          2.52%           13.61%           12.38%           8.28%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.19%   
C Shares                                           1.87%   
I Shares                                           1.17%   
IS Shares                                           0.87%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.25%, 1.95%, 0.97% and 0.90% for A, C, I and IS Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
** IS Shares were offered beginning on 8/1/14. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of investments

 

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9

Table of Contents

LARGE CAP VALUE EQUITY FUND

 

 

Portfolio Manager

 

•   Mills Riddick, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Large Cap Value Equity Fund (I Shares) delivered a -2.19% return. That compared to a -1.54% return for the Russell 1000 Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

During the 12-month period, stocks faced major headwinds, including debt negotiations between Greece and the euro zone, Puerto Rico’s debt restructuring, re-emerging volatility in oil prices, and anxiety surrounding the U.S. Federal Reserve’s strategy for raising interest rates. Instability in international and U.S. markets weighed on the Fund’s absolute returns.

The portfolio management team does not attempt to position the Fund based on predictions of macro-economic conditions. The Fund employs a bottom-up investment approach to stock selection that seeks out dividend-paying stocks trading at the lower end of their historical trading ranges, and which display characteristics of financial strength and possess an improving fundamental situation. The Fund does not make active sector allocations but allows its bottom-up investment process to define sector weights.

The Fund’s relative performance was hurt by underweight positions in the consumer staples and utilities sectors. Exposure to three energy companies during a time of volatility in that sector detracted from relative performance, as did holdings in a global mass media company and a financial services company.

The Fund benefited from individual exposure to shares of a leading technology and software company, a healthcare company, a telecommunications company, and a supplier of semiconductor materials.

How do you plan to position the Fund, based on market conditions?

We will continue to maintain our disciplined, bottom-up fundamental stock analysis when choosing investments for the Fund. Our investment philosophy seeks out investments that meet three key criteria: the existence of a dividend, low valuations and improving fundamentals. In the current environment, we expect to maintain a pro-cyclical bias that includes overweight positions in the information technology and healthcare sectors, and underweight positions in the utilities and consumer staples sectors.

 

10

Table of Contents

LARGE CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 1000® Value Index, which measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® companies with lower price-to-book ratios and lower expected growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

 

           Average Annual Total Returns as of 3/31/16  
Large Cap Value Equity Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   –2.46%        8.55%           8.96%           6.46%   
     with sales charge*   –8.09%        6.42%           7.68%           5.83%   

C Shares

    without CDSC   –2.88%        8.06%           8.38%           5.80%   
     with CDSC*   –3.76%        8.06%           8.38%           5.80%   

I Shares

        –2.19%        8.85%           9.27%           6.77%   

IS Shares**

        –1.90%        9.03%           9.38%           6.82%   
Russell 1000® Value Index        –1.54%        9.38%           10.25%           5.72%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.36%   
C Shares                                       1.71%   
I Shares                                       1.07%   
IS Shares                                       0.71%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.27%, 1.97%, 0.97% and 0.85% for A, C, I and IS Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
** IS Shares were offered beginning on 8/1/14. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

 

Sector Weightings (as of March 31, 2016)

as a percentage of investments

 

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11

Table of Contents

MID-CAP VALUE EQUITY FUND

 

 

Portfolio Manager

 

•   Don Wordell, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Mid-Cap Value Equity Fund (I Shares) delivered a -3.85% return. That compared to a -3.39% return for the Russell Midcap Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

During the 12-month period, stocks faced major headwinds, including debt negotiations between Greece and the euro zone, Puerto Rico’s debt restructuring, re-emerging volatility in oil prices, and anxiety surrounding the U.S. Federal Reserve’s strategy for raising interest rates. Instability in international and U.S. markets weighed on the Fund’s absolute returns.

The portfolio management team does not attempt to position the Fund based on predictions of macro-economic conditions. The Fund employs a bottom-up investment approach to stock selection that seeks out dividend-paying stocks trading at the lower end of their historical trading ranges, and which display characteristics of financial strength and possess an improving fundamental situation. The Fund does not make active sector allocations but allows its bottom-up investment process to define sector weights.

An overweight position and stock selection in the energy sector detracted from the Fund’s relative performance, as several energy holdings suffered from oil price volatility. An underweight position in the consumer staples sector also dragged on relative returns, as did exposure to a global mass media company, a packaging company and a semiconductor manufacturing company.

The Fund benefited from individual exposure to shares of an information technology company, a biopharmaceutical company, a healthcare company and a utility company.

How do you plan to position the Fund, based on market conditions?

We will continue to maintain our disciplined, bottom-up fundamental stock analysis when choosing investments for the Fund. Our investment philosophy seeks out investments that meet three key criteria: the existence of a dividend, low valuations and improving fundamentals. In the current environment, we expect to maintain a pro-cyclical bias includes overweight positions in the information technology, industrial and healthcare sectors, and underweight positions in the utilities and consumer staples sectors. We also expect to maintain an underweight position in REIT investments in the financials sector.

 

12

Table of Contents

MID-CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell Midcap® Value Index, which measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap Index companies with lower price-to-book ratios and lower forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

 

           Average Annual Total Returns as of 3/31/16  
Mid-Cap Value Equity Fund         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –4.11%           7.83%           7.83%           8.36%   
     with sales charge*     –9.63%           5.72%           6.56%           7.72%   

C Shares

    without CDSC     –4.49%           7.43%           7.32%           7.72%   
     with CDSC*     –5.39%           7.43%           7.32%           7.72%   

I Shares

          –3.85%           8.14%           8.14%           8.67%   

IS Shares**

          –3.45%           8.36%           8.27%           8.73%   
Russell Midcap® Value Index          –3.39%           9.88%           10.52%           7.23%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.41%   
C Shares                                           1.75%   
I Shares                                           1.10%   
IS Shares                                           0.75%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.40%, 1.95%, 1.15% and 0.95% for A, C, I and IS Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
** IS Shares were offered beginning on 8/1/14. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

13

Table of Contents

SMALL CAP GROWTH STOCK FUND

 

 

Portfolio Managers

 

•   Sandeep Bhatia, PhD, CFA
•   Michael A. Sansoterra

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Small Cap Growth Stock Fund (I Shares) returned -13.30%. That compared to a -11.84% return for the Russell 2000 Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

The period was marked by economic challenges both domestically and internationally. Investors worried about slowing economic growth in the U.S., Europe and China, as well as about volatile commodities prices and the U.S. Federal Reserve’s interest rate strategy. These factors contributed to record-level spikes in market volatility during the 12-month period. The Fund’s absolute returns suffered in this environment.

Stock selection within the consumer discretionary sector was responsible for most of the Fund’s underperformance relative to the benchmark index. Specifically, holdings in an educational services provider, a home décor chain and automobile components manufacturer dragged on returns, as did holdings in a new home builder and an automotive sales and service firm. The Fund’s relative performance also was hurt by lack of exposure to a ski resort company that contributed to the benchmark’s performance.

How do you plan to position the Fund, based on market conditions?

The portfolio managers seek to eliminate investment results that are directly attributed to market conditions, and instead attempt to drive performance through stock selection. Therefore, the Fund will continue to invest in companies with reasonable valuations and improving fundamentals. Generally, we look for companies that have shown year-over-year increases in operating margins, revenue growth and return on incremental invested capital. By combining income statement, balance sheet and cash flow metrics to evaluate earnings quality, capital efficiency and relative valuations, we can avoid making investment decisions based on a single factor.

 

14

Table of Contents

SMALL CAP GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 2000® Growth Index, which measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

 

           Average Annual Total Returns as of 3/31/16  
Small Cap Growth Stock Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   –13.38%        4.36%           5.32%           3.33%   
     with sales charge*   –18.38%        2.33%           4.08%           2.72%   

C Shares

    without CDSC   –13.91%        3.70%           4.64%           2.64%   
     with CDSC*   –14.32%        3.70%           4.64%           2.64%   

I Shares

        –13.30%        4.42%           5.44%           3.55%   

IS Shares**

        –13.13%        4.56%           5.52%           3.59%   
Russell 2000® Growth Index        –11.84%        7.91%           7.70%           6.00%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.32%   
C Shares                                       1.96%   
I Shares                                       1.34%   
IS Shares                                       0.96%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.50%, 2.20%, 1.30% and 1.05% for A, C, I and IS Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

** IS Shares were offered beginning on 8/1/14. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of Investments

 

LOGO

 

 

15

Table of Contents

SMALL CAP VALUE EQUITY FUND

 

 

Portfolio Manager

 

•   Brett Barner, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Small Cap Value Equity Fund (I Shares) delivered a -0.64% return. That compared to a -7.72% return for the Russell Small Cap Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

During the 12-month period, stocks faced major headwinds, including debt negotiations between Greece and the euro zone, Puerto Rico’s debt restructuring, re-emerging volatility in oil prices, and anxiety surrounding the U.S. Federal Reserve’s strategy for raising interest rates. Instability in international and U.S. markets weighed on the Fund’s absolute returns.

The portfolio management team does not attempt to position the Fund based on predictions of macro-economic conditions. The Fund employs a bottom-up investment approach to stock selection that seeks out dividend-paying stocks trading at the lower end of their historical trading ranges, and which display characteristics of financial strength and possess an improving fundamental situation. The Fund does not make active sector allocations but allows its bottom-up investment process to define sector weights.

The Fund’s relative performance was boosted by exposure to individual stocks in the financial services sector, including three insurance companies. Holdings in a waste management company and a software company that measures consumer credit risk also contributed to the Fund’s relative returns.

An underweight position and stock selection in the energy sector detracted from the Fund’s relative performance. An overweight position in consumer discretionary stocks also dragged on relative returns, as did exposure to shares of an entertainment company, an interactive retailer and an electronics company.

How do you plan to position the Fund, based on market conditions?

We will continue to maintain our disciplined, bottom-up fundamental stock analysis when choosing investments for the Fund. Our investment philosophy seeks out investments that meet three key criteria: the existence of a dividend, low valuations and improving fundamentals. In the current environment, we expect to maintain a pro-cyclical bias that includes overweight positions in the consumer discretionary and industrials sectors, and underweight positions in the utilities sector. We also expect to maintain an underweight position in REITs and banks in the financials sector.

 

16

Table of Contents

SMALL CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 2000® Value Index, which measures the performance of the small-cap value segment of the U.S. equity universe. It includes those Russell 2000® companies with lower price-to-book ratios and lower forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

 

           Average Annual Total Returns as of 3/31/16  
Small Cap Value Equity Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   –0.98%        7.53%           7.91%           6.62%   
     with sales charge*   –6.67%        5.42%           6.65%           5.99%   

C Shares

    without CDSC   –1.34%        7.14%           7.42%           6.18%   
     with CDSC*   –2.04%        7.14%           7.42%           6.18%   

I Shares

        –0.64%        7.86%           8.24%           6.93%   
Russell 2000® Value Index        –7.72%        5.73%           6.67%           4.42%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.52%   
C Shares                                       1.88%   
I Shares                                       1.21%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2016)

as a percentage of Investments

 

LOGO

 

 

17

Table of Contents

AGGRESSIVE GROWTH ALLOCATION STRATEGY

 

 

Portfolio Manager

 

•   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Equity Securities (Stocks) are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalents offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Aggressive Growth Allocation Strategy (I Shares) returned -4.67%, compared to a -4.67% return for the Lipper Mixed-Asset Target Allocation (Growth Classification)*, and a 1.98% return for its hybrid benchmark made up of an 80% weighting in the S&P 500 Index and a 20% weighting in the Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

RidgeWorth Investments manages four distinct asset allocation strategies, each structured to align investment portfolios with specific levels of investor risk tolerance and income requirements. The underlying mutual funds and ETFs typically are the same across the Strategies, but different stock, bond and alternatives allocations create noticeably different total return characteristics, which are intended to align with investor needs and constraints.

The equity market rose very modestly during the 12-month period, despite being buffeted by a drop in oil prices and global economic uncertainty. Stocks gained when the Federal Reserve raised its target short-term interest rate in December, but then fell due to fears about the economy’s strength.

Amid those concerns, risk-averse investors sought relatively conservative options and defensive sectors. While large-cap stocks and longer-duration fixed income positions faired moderately well over the period, small-, mid-cap, and international stocks and high yield bonds struggled. Commodities declined sharply during the year, but erased some declines late in the period. That environment challenged the Fund’s absolute return.

Broadly speaking, since the S&P 500 equity index slightly underperformed the Barclays U.S. Aggregate bond index for the year, the strategy’s overweight to stocks was a net detractor in terms of relative performance versus its hybrid index. However, selected funds also detracted from relative total returns versus the blended benchmark, most notably from pronounced weakness in international mandates, as well as large-cap and small-cap growth mandates. In the fixed income space, exposure to cash, core, high yield and ultra-short mandates detracted from performance.

We actively and opportunistically reduced risk in the Fund throughout the period by trimming equities, rebuilding a long-dormant position in the GDX (Gold Miners) ETF, and maintaining bond portfolio durations close that of the Barclays U.S. Aggregate index.

How do you plan to position the Fund, based on market conditions?

We believe equities remain attractive relative to bonds in a period of rising rates, especially given historically low interest rates and upticks in inflation and wages. As such, we are maintaining a slightly overweight position in equities relative to the Fund’s target benchmarks, with a core equity position tilted slightly towards growth. The Fund holds overweight stakes in the technology, financials, industrials and consumer discretionary sectors, while maintaining relatively low exposures to developed international and emerging markets equities.

The Fund holds a nearly neutral duration to the Barclays U.S. Aggregate Index. We would not be surprised to see the equity and fixed income markets undergo a period of consolidation in the short run, but we think it could be short-lived. In our estimation, investors facing near-zero interest rates are likely to continue to venture out the risk spectrum in search of income and total return.

 

* Lipper Mixed-Asset Target Allocation (Growth Classification): Funds that, by portfolio practice, maintain a mix of between 60%-80% equity securities, with the remainder invested in bonds, cash, and cash equivalents.

 

18

Table of Contents

AGGRESSIVE GROWTH ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

Effective September 30, 2012, the benchmark index for the Fund changed from the Standard & Poors 500 Index (“S&P 500 Index”) to the Hybrid 80/20 Blend Index. The Fund's performance is compared to the Hybrid 80/20 Blend Index.

 

The S&P 500 Index is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/16  
Aggressive Growth Allocation Strategy         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –4.88%           6.51%           5.22%           4.08%   
     with sales charge**     –10.35%           4.44%           3.98%           3.47%   

C Shares*

    without CDSC     –5.31%           5.95%           4.59%           3.40%   
     with CDSC**     –6.06%           5.95%           4.59%           3.40%   

I Shares

          –4.67%           6.76%           5.50%           4.37%   
Hybrid 80/20 Blend Index (80% of the S&P 500 Index, 20% of the Barclays U.S. Aggregate Bond Index)     1.98%           10.01%           10.12%           6.79%   
S&P 500 Index          1.78%           11.82%           11.58%           7.01%   
Barclays U.S. Aggregate Bond Index          1.96%           2.50%           3.78%           4.90%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.85%   
C Shares                                           2.46%   
I Shares                                           1.85%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.70%, 1.30% and 0.50% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.73% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* C Shares were offered beginning on 4/1/05. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect C Share expenses. If it had been, performance would have been lower.

 

** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of Investments

 

LOGO

 

 

19

Table of Contents

CONSERVATIVE ALLOCATION STRATEGY

 

 

Portfolio Manager

 

•   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Equity Securities (Stocks) are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalents offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Conservative Allocation Strategy (I Shares) returned -1.73%, compared to a -1.73% return for the Lipper Mixed-Asset Target Allocation (Conservative Classification)*, and a 2.12% return for its hybrid benchmark made up of a 30% weighting in the S&P 500 Index and a 70% weighting in the Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

RidgeWorth Investments manages four distinct asset allocation strategies, each structured to align investment portfolios with specific levels of investor risk tolerance and income requirements. The underlying mutual funds and ETFs typically are the same across the Strategies, but different stock, bond and alternatives allocations create noticeably different total return characteristics, which are intended to align with investor needs and constraints.

The equity market rose very modestly during the 12-month period, despite being buffeted by a drop in oil prices and global economic uncertainty. Stocks gained when the Federal Reserve raised its target short-term interest rate in December, but then fell due to fears about the economy’s strength.

Amid those concerns, risk-averse investors sought relatively conservative options and defensive sectors. While large-cap stocks and longer-duration fixed income positions faired moderately well over the period, small-, mid-cap, and international stocks and high yield bonds struggled. Commodities declined sharply during the year, but erased some declines late in the period. That environment challenged the Fund’s absolute return.

Broadly speaking, since the S&P 500 equity index slightly underperformed the Barclays U.S. Aggregate bond index for the year, the strategy’s overweight to stocks was a net detractor in terms of relative performance versus its hybrid index. However, selected funds also detracted from relative total returns versus the blended benchmark, most notably from pronounced weakness in international mandates, as well as large-cap and small-cap growth mandates. In the fixed income space, exposure to cash, core, high yield and ultra-short mandates detracted from performance.

We actively and opportunistically reduced risk in the Fund throughout the period by trimming equities, rebuilding a long-dormant position in the GDX (Gold Miners) ETF, and maintaining bond portfolio durations close that of the Barclays U.S. Aggregate index.

How do you plan to position the Fund, based on market conditions?

We believe equities remain attractive relative to bonds in a period of rising rates, especially given historically low interest rates and upticks in inflation and wages. As such, we are maintaining a slightly overweight position in equities relative to the Fund’s target benchmarks, with a core equity position tilted slightly towards growth. The Fund holds overweight stakes in the technology, financials, industrials and consumer discretionary sectors, while maintaining relatively low exposures to developed international and emerging markets equities.

The Fund holds a nearly neutral duration to the Barclays U.S. Aggregate Index. We would not be surprised to see the equity and fixed income markets undergo a period of consolidation in the short run, but we think it could be short-lived. In our estimation, investors facing near-zero interest rates are likely to continue to venture out the risk spectrum in search of income and total return.

 

* Lipper Mixed-Asset Target Allocation (Conservative Classification): Funds that, by portfolio practice, maintain a mix of between 20%-40% equity securities, with the remainder invested in bonds, cash, and cash equivalents.

 

20

Table of Contents

CONSERVATIVE ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Hybrid 30/70 Blend Index. The Standard & Poors 500 Index (“S&P 500 Index”) is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/16  
Conservative Allocation Strategy         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –1.98%           3.59%           4.27%           5.15%   
     with sales charge**     –6.66%           1.94%           3.27%           4.64%   

C Shares*

    without CDSC     –2.71%           2.85%           3.53%           4.41%   
     with CDSC**     –3.65%           2.85%           3.53%           4.41%   

I Shares

          –1.73%           3.89%           4.56%           5.46%   

Hybrid 30/70 Blend Index (30% of the S&P 500 Index, 70% of the Barclays U.S. Aggregate Bond Index)

     2.12%           5.37%           6.25%           5.79%   

S&P 500 Index

          1.78%           11.82%           11.58%           7.01%   

Barclays U.S. Aggregate Bond Index

          1.96%           2.50%           3.78%           4.90%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.17%   
C Shares                                           1.83%   
I Shares                                           0.95%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.60%, 1.30% and 0.30% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.50% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

* Class C Shares were offered beginning on 4/1/05. The performance shown prior to such dates is based on performance of the B Shares of the Fund, and has not been adjusted to reflect C Share expenses. If it had been, performance for C Shares would have been lower. Effective close of business on 7/16/10, B Shares converted into A Shares.

 

** Class A Share performance reflects the maximum front-end sales charge of 4.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of Investments

 

LOGO

 

 

21

Table of Contents

GROWTH ALLOCATION STRATEGY

 

 

Portfolio Manager

 

•   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Equity Securities (Stocks) are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalents offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Growth Allocation Strategy (I Shares) returned -3.74%, compared to a -3.09% return for the Lipper Mixed-Asset Target Allocation (Growth Classification)*, and a 2.04% return for its hybrid benchmark made up of a 70% weighting in the S&P 500 Index and a 30% weighting in the Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

RidgeWorth Investments manages four distinct asset allocation strategies, each structured to align investment portfolios with specific levels of investor risk tolerance and income requirements. The underlying mutual funds and ETFs typically are the same across the Strategies, but different stock, bond and alternatives allocations create noticeably different total return characteristics, which are intended to align with investor needs and constraints.

The equity market rose very modestly during the 12-month period, despite being buffeted by a drop in oil prices and global economic uncertainty. Stocks gained when the Federal Reserve raised its target short-term interest rate in December, but then fell due to fears about the economy’s strength.

Amid those concerns, risk-averse investors sought relatively conservative options and defensive sectors. While large-cap stocks and longer-duration fixed income positions faired moderately well over the period, small-, mid-cap, and international stocks and high yield bonds struggled. Commodities declined sharply during the year, but erased some declines late in the period. That environment challenged the Fund’s absolute return.

Broadly speaking, since the S&P 500 equity index slightly underperformed the Barclays U.S. Aggregate bond index for the year, the strategy’s overweight to stocks was a net detractor in terms of relative performance versus its hybrid index. However, selected funds also detracted from relative total returns versus the blended benchmark, most notably from pronounced weakness in international mandates, as well as large-cap and small-cap growth mandates. In the fixed income space, exposure to cash, core, high yield and ultra-short mandates detracted from performance.

We actively and opportunistically reduced risk in the Fund throughout the period by trimming equities, rebuilding a long-dormant position in the GDX (Gold Miners) ETF, and maintaining bond portfolio durations close that of the Barclays U.S. Aggregate index.

How do you plan to position the Fund, based on market conditions?

We believe equities remain attractive relative to bonds in a period of rising rates, especially given historically low interest rates and upticks in inflation and wages. As such, we are maintaining a slightly overweight position in equities relative to the Fund’s target benchmarks, with a core equity position tilted slightly towards growth. The Fund holds overweight stakes in the technology, financials, industrials and consumer discretionary sectors, while maintaining relatively low exposures to developed international and emerging markets equities.

The Fund holds a nearly neutral duration to the Barclays U.S. Aggregate Index. We would not be surprised to see the equity and fixed income markets undergo a period of consolidation in the short run, but we think it could be short-lived. In our estimation, investors facing near-zero interest rates are likely to continue to venture out the risk spectrum in search of income and total return.

 

* Lipper Mixed-Asset Target Allocation (Growth Classification): Funds that, by portfolio practice, maintain a mix of between 60%-80% equity securities, with the remainder invested in bonds, cash, and cash equivalents.

 

22

Table of Contents

GROWTH ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Hybrid 70/30 Blend Index. The Standard & Poors 500 Index (“S&P 500 Index”) is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/16  
Growth Allocation Strategy         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –4.02%           6.09%           5.63%           4.94%   
     with sales charge**     –9.57%           4.00%           4.39%           4.32%   

C Shares*

    without CDSC     –4.60%           5.41%           4.95%           4.22%   
     with CDSC**     –5.48%           5.41%           4.95%           4.22%   

I Shares

          –3.74%           6.28%           5.87%           5.21%   
Hybrid 70/30 Blend Index (70% of the S&P 500 Index, 30% of the Barclays U.S. Aggregate Bond Index)     2.04%           9.10%           9.37%           6.64%   
S&P 500 Index          1.78%           11.82%           11.58%           7.01%   
Barclays U.S. Aggregate Bond Index          1.96%           2.50%           3.78%           4.90%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.36%   
C Shares                                           1.98%   
I Shares                                           1.37%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.70%, 1.30% and 0.50% for the A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.68% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

* Class C Shares were offered beginning on 4/05/05. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect C Share expenses. If it had been, performance would have been lower.

 

** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of Investments

 

LOGO

 

 

23

Table of Contents

MODERATE ALLOCATION STRATEGY

 

 

Portfolio Manager

 

•   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Equity Securities (Stocks) are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalent offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Moderate Allocation Strategy (I Shares) returned -2.96%, compared to a -2.70% return for the Lipper Mixed-Asset Target Allocation (Moderate Classification)*, and a 2.12% return for its hybrid benchmark made up of a 50% weighting in the S&P 500 Index and a 50% weighting in the Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

RidgeWorth Investments manages four distinct asset allocation strategies, each structured to align investment portfolios with specific levels of investor risk tolerance and income requirements. The underlying mutual funds and ETFs typically are the same across the Strategies, but different stock, bond and alternatives allocations create noticeably different total return characteristics, which are intended to align with investor needs and constraints.

The equity market rose very modestly during the 12-month period, despite being buffeted by a drop in oil prices and global economic uncertainty. Stocks gained when the Federal Reserve raised its target short-term interest rate in December, but then fell due to fears about the economy’s strength.

Amid those concerns, risk-averse investors sought relatively conservative options and defensive sectors. While large-cap stocks and longer-duration fixed income positions faired moderately well over the period, small-, mid-cap, and international stocks and high yield bonds struggled. Commodities declined sharply during the year, but erased some declines late in the period. That environment challenged the Fund’s absolute return.

Broadly speaking, since the S&P 500 equity index slightly underperformed the Barclays U.S. Aggregate bond index for the year, the strategy’s overweight to stocks was a net detractor in terms of relative performance versus its hybrid index. However, selected funds also detracted from relative total returns versus the blended benchmark, most notably from pronounced weakness in international mandates, as well as large-cap and small-cap growth mandates. In the fixed income space, exposure to cash, core, high yield and ultra-short mandates detracted from performance.

We actively and opportunistically reduced risk in the Fund throughout the period by trimming equities, rebuilding a long-dormant position in the GDX (Gold Miners) ETF, and maintaining bond portfolio durations close that of the Barclays U.S. Aggregate index.

How do you plan to position the Fund, based on market conditions?

We believe equities remain attractive relative to bonds in a period of rising rates, especially given historically low interest rates and upticks in inflation and wages. As such, we are maintaining a slightly overweight position in equities relative to the Fund’s target benchmarks, with a core equity position tilted slightly towards growth. The Fund holds overweight stakes in the technology, financials, industrials and consumer discretionary sectors, while maintaining relatively low exposures to developed international and emerging markets equities.

The Fund holds a nearly neutral duration to the Barclays U.S. Aggregate Index. We would not be surprised to see the equity and fixed income markets undergo a period of consolidation in the short run, but we think it could be short-lived. In our estimation, investors facing near-zero interest rates are likely to continue to venture out the risk spectrum in search of income and total return.

 

* Lipper Mixed-Asset Target Allocation (Moderate Classification): Funds that, by portfolio practice, maintain a mix of between 40%-60% equity securities, with the remainder invested in bonds, cash, and cash equivalents.

 

24

Table of Contents

MODERATE ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Hybrid 50/50 Blend Index. The Standard & Poors 500 Index (“S&P 500 Index”) is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/16  
Moderate Allocation Strategy         1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     –3.13%           4.82%           5.03%           4.99%   
     with sales charge**     –8.67%           2.76%           3.79%           4.37%   

C Shares*

    without CDSC     –3.65%           4.24%           4.40%           4.30%   
     with CDSC**     –4.46%           4.24%           4.40%           4.30%   

I Shares

          –2.96%           4.95%           5.21%           5.24%   
Hybrid 50/50 Blend Index (50% of the Barclays U.S. Aggregate Bond Index, 50% of the S&P 500 Index )     2.12%           7.25%           7.83%           6.27%   
S&P 500 Index          1.78%           11.82%           11.58%           7.01%   
Barclays U.S. Aggregate Bond Index          1.96%           2.50%           3.78%           4.90%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.26%   
C Shares                                           1.82%   
I Shares                                           1.11%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.70%, 1.30% and 0.50% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.59% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

* Class C Shares were offered beginning on 4/5/05. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect C Share expenses. If it had been, performance would have been lower.

 

** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2016)

as a percentage of Investments

 

LOGO

 

 

25

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Aggressive Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 99.6%     

Consumer Discretionary 31.8%

     

Amazon.com, Inc.*

     3,200         1,899,648   

Chipotle Mexican Grill, Inc.*

     1,700         800,649   

Lululemon Athletica, Inc.*

     10,200         690,642   

Netflix, Inc.*

     15,000         1,533,450   

Priceline Group, Inc. (The)*

     500         644,480   

Starbucks Corp.

     7,500         447,750   

Tesla Motors, Inc.*

     7,700         1,769,229   

Under Armour, Inc., Cl A*

     7,000         593,810   
    

 

 

  
       8,379,658   
    

 

 

  

Financials 7.9%

     

Charles Schwab Corp. (The)

     34,100         955,482   

First Republic Bank

     9,200         613,088   

Signature Bank*

     3,700         503,644   
    

 

 

  
       2,072,214   
    

 

 

  

Health Care 17.7%

     

Alexion Pharmaceuticals, Inc.*

     4,700         654,334   

BioMarin Pharmaceutical, Inc.*

     5,800         478,384   

Celgene Corp.*

     12,600         1,261,134   

DexCom, Inc.*

     4,500         305,595   

Exact Sciences Corp.*

     34,100         229,834   

Gilead Sciences, Inc.

     2,000         183,720   

Illumina, Inc.*

     2,300         372,853   

Medidata Solutions, Inc.*

     13,500         522,585   

Regeneron Pharmaceuticals, Inc.*

     1,800         648,792   
    

 

 

  
       4,657,231   
    

 

 

  

Industrials 6.1%

     

XPO Logistics, Inc.*

     52,500         1,611,750   
    

 

 

  
     Shares      Value($)  

Information Technology 36.1%

     

Alliance Data Systems Corp.*

     2,200         484,000   

Alphabet, Inc., Cl A*

     1,600         1,220,640   

Baidu, Inc. SP ADR*

     2,400         458,112   

Ellie Mae, Inc.*

     3,000         271,920   

Facebook, Inc., Cl A*

     13,700         1,563,170   

LendingClub Corp.*

     88,200         732,060   

LinkedIn Corp., Cl A*

     2,000         228,700   

MercadoLibre, Inc.

     7,300         860,305   

Monolithic Power Systems, Inc.

     5,600         356,384   

Palo Alto Networks, Inc.*

     4,800         783,072   

Pandora Media, Inc.*

     43,500         389,325   

Salesforce.com, Inc.*

     9,450         697,693   

ServiceNow, Inc.*

     3,000         183,540   

Splunk, Inc.*

     2,700         132,111   

Zillow Group, Inc., Cl C*

     32,400         768,852   

Zillow Group, Inc., Cl A*

     14,800         378,141   
    

 

 

  
       9,508,025   
    

 

 

  

Total Common Stocks
(Cost $16,602,924)

        26,228,878   
    

 

 

  

Total Investments
(Cost $16,602,924) — 99.6%

        26,228,878   

Other Assets in Excess of
Liabilities — 0.4%

        101,312   
    

 

 

  

Net Assets — 100.0%

      $ 26,330,190   
    

 

 

  

 

* Non-income producing security.

Investment Abbreviation

SP ADR — Sponsored American Depositary Receipt

 

 

See Notes to Financial Statements.

 

26

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Capital Innovations Global Resources and Infrastructure Fund

 

     Shares      Value($)  
Common Stocks 93.4%     

Consumer Staples 3.9%

     

Adecoagro SA*

     1,140         13,167   

Archer-Daniels-Midland Co.

     980         35,584   

Bunge Ltd.

     305         17,284   

Mead Johnson Nutrition Co.

     410         34,838   

Snyder’s-Lance, Inc.

     985         31,008   
    

 

 

  
       131,881   
    

 

 

  

Energy 30.0%

     

Anadarko Petroleum Corp.

     2,535         118,055   

BP PLC SP ADR

     4,015         121,173   

California Resources Corp.

     215         221   

Canadian Natural Resources Ltd.

     1,030         27,810   

ConocoPhillips

     820         33,021   

Eni SpA SP ADR

     550         16,621   

Exxon Mobil Corp.

     1,420         118,698   

Gazprom PAO SP ADR

     5,400         23,274   

Kinder Morgan, Inc.

     1,450         25,897   

Lukoil PJSC SP ADR

     415         15,942   

Occidental Petroleum Corp.

     2,170         148,493   

Royal Dutch Shell PLC SP ADR

     1,415         68,557   

Schlumberger Ltd.

     2,070         152,663   

Suncor Energy, Inc.

     1,580         43,940   

Total SA SP ADR

     2,374         107,827   
    

 

 

  
       1,022,192   
    

 

 

  

Financials 6.3%

     

Potlatch Corp., REIT

     1,200         37,800   

Rayonier, Inc., REIT

     820         20,237   

Weyerhaeuser Co., REIT

     5,058         156,697   
    

 

 

  
       214,734   
    

 

 

  

Health Care 1.7%

     

Zoetis, Inc.

     1,330         58,959   
    

 

 

  

Industrials 2.4%

     

Grupo Aeroportuario del Sureste SAB de CV ADR

     165         24,778   

Waste Management, Inc.

     1,000         59,000   
    

 

 

  
       83,778   
    

 

 

  

Materials 49.1%

     

Agrium, Inc.

     990         87,407   

Alcoa, Inc.

     6,825         65,384   

ArcelorMittal

     2,000         9,160   

Barrick Gold Corp.

     8,040         109,183   

BHP Billiton Ltd. SP ADR

     5,225         135,328   

CF Industries Holdings, Inc.

     2,115         66,284   

Domtar Corp.

     1,490         60,345   

E.I. du Pont de Nemours & Co.

     1,060         67,119   

Freeport-McMoRan, Inc.

     6,000         62,040   

Goldcorp, Inc.

     3,455         56,075   
     Shares      Value($)  

Materials—continued

     

Interfor Corp.*

     5,000         55,322   

International Paper Co.

     1,655         67,921   

KapStone Paper and Packaging Corp.

     3,155         43,697   

Louisiana-Pacific Corp.*

     2,320         39,718   

Monsanto Co.

     980         85,985   

Mosaic Co. (The)

     1,710         46,170   

Newmont Mining Corp.

     2,295         61,001   

Nucor Corp.

     1,000         47,300   

Packaging Corp. of America

     810         48,924   

Potash Corp. of Saskatchewan, Inc.

     1,290         21,956   

Rio Tinto PLC SP ADR

     2,600         73,502   

Silver Wheaton Corp.

     1,730         28,683   

Southern Copper Corp.

     735         20,367   

United States Steel Corp.

     6,085         97,664   

West Fraser Timber Co. Ltd.

     3,000         120,370   

WestRock Co.

     2,480         96,794   
    

 

 

  
       1,673,699   
    

 

 

  

Total Common Stocks
(Cost $3,369,838)

        3,185,243   
    

 

 

  

Rights 0.1%

     

Materials 0.1%

     

ArcelorMittal*

     2,000         2,730   
    

 

 

  

Total Rights
(Cost $2,018)

        2,730   
    

 

 

  

Money Market Fund 5.8%

     

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.44%(a)

     198,321         198,321   
    

 

 

  

Total Money Market Fund
(Cost $198,321)

        198,321   
    

 

 

  

Total Investments
(Cost $3,570,177) — 99.3%

        3,386,294   

Other Assets in Excess of
Liabilities — 0.7%

        22,334   
    

 

 

  

Net Assets — 100.0%

      $ 3,408,628   
    

 

 

  

 

* Non-income producing security.

 

(a) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviation

 

ADR   —   American Depositary Receipt
REIT   —   Real Estate Investment Trust
SAB de CV   —   Sociedad Anónima Bursátil de Capital Variable is the Spanish equivalent to Variable Capital Company
SP ADR   —   Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

27

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

International Equity Fund

 

     Shares      Value($)  
Common Stocks 93.9%     

Australia 3.2%

     

CSL Ltd.

     15,951         1,240,331   
    

 

 

  

Bermuda 2.1%

     

Lazard Ltd., Cl A

     20,674         802,151   
    

 

 

  

Canada 6.3%

     

Canadian Pacific Railway Ltd.

     10,768         1,428,806   

Constellation Software, Inc.

     2,400         982,711   
    

 

 

  
       2,411,517   
    

 

 

  

China 6.9%

     

Ctrip.com International Ltd. ADR*

     27,022         1,195,994   

Kaisa Group Holdings Ltd.*(a)(b)(c)

     423,000         85,065   

Tencent Holdings Ltd.

     66,500         1,358,744   
    

 

 

  
       2,639,803   
    

 

 

  

Denmark 14.1%

     

Chr Hansen Holding A/S

     21,880         1,468,802   

Coloplast A/S, Cl B

     16,200         1,227,524   

Novo Nordisk A/S SP ADR(b)

     29,129         1,578,500   

Novozymes A/S, Cl B

     25,084         1,127,698   
    

 

 

  
       5,402,524   
    

 

 

  

France 2.7%

     

LVMH Moet Hennessy Louis Vuitton SE

     6,005         1,028,380   
    

 

 

  

India 2.9%

     

HDFC Bank Ltd. ADR

     18,051         1,112,483   
    

 

 

  

Ireland 8.4%

     

Experian PLC

     61,792         1,104,922   

ICON PLC*

     16,532         1,241,553   

Perrigo Co. PLC

     6,895         882,077   
    

 

 

  
       3,228,552   
    

 

 

  

Japan 6.9%

     

Keyence Corp.(b)

     1,900         1,036,395   

Sysmex Corp.(b)

     13,900         869,483   

Uni-Charm Corp.

     34,000         739,846   
    

 

 

  
       2,645,724   
    

 

 

  

Mexico 1.7%

     

Wal-Mart de Mexico SAB de CV

     275,300         651,715   
    

 

 

  

Netherlands 7.5%

     

Core Laboratories NV(b)

     10,972         1,233,363   

Sensata Technologies Holding NV*

     25,649         996,207   

Yandex NV, Cl A*

     42,029         643,884   
    

 

 

  
       2,873,454   
    

 

 

  

South Africa 1.3%

     

Shoprite Holdings Ltd.

     41,141         483,813   
    

 

 

  

Spain 1.5%

     

Industria de Diseno Textil SA

     17,195         578,474   
    

 

 

  
     Shares      Value($)  

Switzerland 12.6%

     

Chubb Ltd.

     13,710         1,633,547   

Nestle SA

     21,559         1,610,955   

SGS SA

     530         1,120,025   

Swatch Group AG (The) BS

     1,380         478,059   
    

 

 

  
       4,842,586   
    

 

 

  

Taiwan 5.9%

     

Taiwan Semiconductor Manufacturing Co. Ltd. SP ADR

     86,740         2,272,588   
    

 

 

  

United Kingdom 9.9%

     

ARM Holdings PLC SP ADR(b)

     25,076         1,095,570   

Compass Group PLC

     64,877         1,144,245   

Reckitt Benckiser Group PLC

     16,194         1,565,305   
    

 

 

  
       3,805,120   
    

 

 

  

Total Common Stocks
(Cost $34,652,256)

        36,019,215   
    

 

 

  

Money Market Funds 14.2%

     

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.44%(d)

     2,089,694         2,089,694   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(d)(e)

     3,345,648         3,345,648   
    

 

 

  

Total Money Market Funds
(Cost $5,435,342)

        5,435,342   
    

 

 

  

Total Investments
(Cost $40,087,598) — 108.1%

        41,454,557   

Liabilities in Excess of Other
Assets — (8.1)%

        (3,110,962 ) 
    

 

 

  

Net Assets — 100.0%

      $ 38,343,595   
    

 

 

  

 

* Non-income producing security.

 

(a) Valued at fair value using procedures approved by the Board of Trustees (See Note 2(a)). Fair valued securities held by the Fund represent 0.2% of net assets as of March 31, 2016.

 

(b) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $3,320,910.

 

(c) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees.

 

(d) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(e) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $3,435,536. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $89,888. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(g)).
 

 

See Notes to Financial Statements.

 

28

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

International Equity Fund — concluded

 

Investment Abbreviations

 

ADR   —   American Depositary Receipt
BS   —   Bearer Shares
SAB de CV   —   Sociedad Anónima Bursátil de Capital Variable is the Spanish equivalent to Variable Capital Company
SP ADR   —   Sponsored American Depositary Receipt

 

See Notes to Financial Statements.

 

29

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Large Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 99.9%     

Consumer Discretionary 26.6%

     

Amazon.com, Inc.*

     18,045         10,712,234   

Chipotle Mexican Grill, Inc.*

     7,234         3,406,997   

DR Horton, Inc.

     148,123         4,477,758   

Harman International Industries, Inc.

     20,893         1,860,313   

Johnson Controls, Inc.

     53,385         2,080,413   

Netflix, Inc.*

     45,556         4,657,190   

NIKE, Inc., Cl B

     63,791         3,921,233   

Priceline Group, Inc. (The)*

     5,287         6,814,732   

Royal Caribbean Cruises Ltd.

     61,020         5,012,793   

Scripps Networks Interactive, Cl A

     35,893         2,350,991   

Starbucks Corp.

     141,098         8,423,551   

Ulta Salon Cosmetics & Fragrance, Inc.*

     14,828         2,872,777   

Under Armour, Inc., Cl A*

     79,910         6,778,765   

VF Corp.

     46,191         2,991,329   
    

 

 

  
       66,361,076   
    

 

 

  

Consumer Staples 7.4%

     

Blue Buffalo Pet Products, Inc.*

     40,379         1,036,125   

Colgate-Palmolive Co.

     66,180         4,675,617   

Costco Wholesale Corp.

     32,797         5,168,151   

Estee Lauder Cos., Inc. (The), Cl A

     40,013         3,773,626   

WhiteWave Foods Co. (The)*

     91,775         3,729,736   
    

 

 

  
       18,383,255   
    

 

 

  

Energy 1.7%

     

Devon Energy Corp.

     32,988         905,191   

EOG Resources, Inc.

     46,831         3,398,994   
    

 

 

  
       4,304,185   
    

 

 

  

Financials 3.3%

     

Charles Schwab Corp. (The)

     98,808         2,768,600   

Discover Financial Services

     48,680         2,478,786   

Morgan Stanley

     121,995         3,051,095   
    

 

 

  
       8,298,481   
    

 

 

  

Health Care 14.5%

     

Alexion Pharmaceuticals, Inc.*

     41,065         5,717,069   

Biogen Inc.*

     16,926         4,406,176   

Cerner Corp.*

     49,799         2,637,355   

Edwards Lifesciences Corp.*

     19,286         1,701,218   

Gilead Sciences, Inc.

     100,500         9,231,930   

HCA Holdings, Inc.*

     28,816         2,249,089   

Illumina, Inc.*

     14,201         2,302,124   

McKesson Corp.

     18,395         2,892,614   

Mylan NV*(a)

     108,248         5,017,295   
    

 

 

  
       36,154,870   
    

 

 

  

Industrials 10.4%

     

A.O. Smith Corp.

     14,813         1,130,380   

BE Aerospace, Inc.

     28,159         1,298,693   
     Shares      Value($)  

Industrials—continued

     

Delta Air Lines, Inc.

     100,705         4,902,319   

Fluor Corp.

     34,994         1,879,178   

Fortune Brands Home & Security, Inc.

     51,711         2,897,885   

HD Supply Holdings, Inc.*

     103,852         3,434,386   

Honeywell International, Inc.

     48,279         5,409,662   

IHS, Inc., Cl A*

     12,415         1,541,446   

J.B. Hunt Transport Services, Inc.

     24,192         2,037,934   

WABCO Holdings, Inc.*

     14,621         1,563,277   
    

 

 

  
       26,095,160   
    

 

 

  

Information Technology 33.5%

     

Adobe Systems, Inc.*

     27,075         2,539,635   

Alphabet, Inc., Cl A*

     11,225         8,563,552   

Alphabet, Inc., Cl C*

     11,527         8,587,039   

Analog Devices, Inc.

     63,412         3,753,356   

Apple, Inc.

     159,873         17,424,558   

ARM Holdings PLC SP ADR(a)

     43,099         1,882,995   

Cognizant Technology Solutions Corp., Cl A*

     52,646         3,300,904   

Facebook, Inc., Cl A*

     112,137         12,794,832   

Palo Alto Networks, Inc.*

     20,412         3,330,014   

Red Hat, Inc.*

     37,324         2,781,011   

Salesforce.com, Inc.*

     69,443         5,126,977   

Splunk, Inc.*

     41,232         2,017,482   

Visa, Inc., Cl A

     123,318         9,431,361   

Workday, Inc., Cl A*(a)

     28,285         2,173,419   
    

 

 

  
       83,707,135   
    

 

 

  

Materials 2.5%

     

Monsanto Co.

     23,880         2,095,231   

PPG Industries, Inc.

     12,557         1,399,980   

Vulcan Materials Co.

     26,212         2,767,201   
    

 

 

  
       6,262,412   
    

 

 

  

Total Common Stocks
(Cost $134,526,686)

        249,566,574   
    

 

 

  

Money Market Funds 1.2%

     

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.44%(b)

     331,142         331,142   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(b)(c)

     2,753,300         2,753,300   
    

 

 

  

Total Money Market Funds
(Cost $3,084,442)

        3,084,442   
    

 

 

  

Total Investments
(Cost $137,611,128) — 101.1%

   

      252,651,016   

Liabilities in Excess of Other
Assets — (1.1)%

        (2,801,511 ) 
    

 

 

  

Net Assets — 100.0%

      $ 249,849,505   
    

 

 

  
 

 

See Notes to Financial Statements.

 

30

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Large Cap Growth Stock Fund — concluded

 

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $7,711,018.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(c) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $7,895,080. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $5,141,780. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(g)).

Investment Abbreviation

SP ADR — Sponsored American Depositary Receipt

 

See Notes to Financial Statements.

 

31

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Large Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 95.9%   

Consumer Discretionary 6.6%

  

Comcast Corp., Cl A

     884,685         54,036,560   

Johnson Controls, Inc.

     1,170,307         45,606,863   

Macy’s, Inc.

     365,933         16,133,986   

PulteGroup, Inc.

     949,880         17,772,255   

Ralph Lauren Corp.

     51,489         4,956,331   
    

 

 

  
       138,505,995   
    

 

 

  

Consumer Staples 3.0%

  

Procter & Gamble Co. (The)

     707,524         58,236,301   

Wal-Mart Stores, Inc.

     73,880         5,060,041   
    

 

 

  
       63,296,342   
    

 

 

  

Energy 12.1%

     

Chevron Corp.

     695,345         66,335,913   

EOG Resources, Inc.

     719,221         52,201,060   

Exxon Mobil Corp.

     838,554         70,094,729   

Pioneer Natural Resources Co.

     120,286         16,929,052   

Schlumberger Ltd.

     659,539         48,641,001   
    

 

 

  
       254,201,755   
    

 

 

  

Financials 28.6%

     

Allstate Corp. (The)

     617,470         41,598,954   

American Express Co.

     505,825         31,057,655   

American Tower Corp., REIT

     232,285         23,779,015   

Ameriprise Financial, Inc.

     341,697         32,122,935   

Aon PLC

     407,551         42,568,702   

BlackRock, Inc.

     122,350         41,668,740   

Chubb Ltd.

     336,365         40,077,890   

Citigroup, Inc.

     826,750         34,516,813   

Crown Castle International Corp., REIT

     180,045         15,573,893   

Franklin Resources, Inc.

     778,140         30,386,367   

JPMorgan Chase & Co.

     965,238         57,161,394   

MetLife, Inc.

     480,230         21,101,306   

Morgan Stanley

     1,715,042         42,893,200   

U.S. Bancorp

     1,341,685         54,458,994   

Wells Fargo & Co.

     1,531,395         74,058,262   

Willis Towers Watson PLC

     138,985         16,491,960   
    

 

 

  
       599,516,080   
    

 

 

  

Health Care 13.4%

     

Agilent Technologies, Inc.

     862,509         34,370,984   

Baxalta, Inc.

     260,389         10,519,716   

Cigna Corp.

     291,081         39,947,956   

Johnson & Johnson

     553,791         59,920,186   

Pfizer, Inc.

     2,522,000         74,752,080   

UnitedHealth Group, Inc.

     475,090         61,239,101   
    

 

 

  
       280,750,023   
    

 

 

  
     Shares      Value($)  

Industrials 8.4%

     

Caterpillar, Inc.

     402,906         30,838,425   

CSX Corp.

     1,419,137         36,542,778   

FedEx Corp.

     215,540         35,072,669   

General Electric Co.

     1,732,073         55,062,601   

Honeywell International, Inc.

     167,290         18,744,844   
    

 

 

  
       176,261,317   
    

 

 

  

Information Technology 17.6%

  

Applied Materials, Inc.

     1,811,745         38,372,759   

Cisco Systems, Inc.

     1,725,855         49,135,092   

EMC Corp.

     1,247,754         33,252,644   

Intel Corp.

     934,815         30,241,265   

Maxim Integrated Products, Inc.

     290,440         10,682,383   

Microsoft Corp.

     1,475,365         81,484,409   

Oracle Corp.

     2,083,046         85,217,412   

Texas Instruments, Inc.

     692,492         39,762,891   
    

 

 

  
       368,148,855   
    

 

 

  

Materials 2.2%

     

Dow Chemical Co. (The)

     662,473         33,693,377   

WestRock Co.

     310,918         12,135,129   
    

 

 

  
       45,828,506   
    

 

 

  

Telecommunication Services 2.5%

  

Verizon Communications, Inc.

     949,500         51,348,960   
    

 

 

  

Utilities 1.5%

     

NextEra Energy, Inc.

     261,979         31,002,595   
    

 

 

  

Total Common Stocks
(Cost $1,685,844,070)

        2,008,860,428   
    

 

 

  

Money Market Fund 4.5%

     

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.44%(a)

     95,041,854         95,041,854   
    

 

 

  

Total Money Market Fund
(Cost $95,041,854)

        95,041,854   
    

 

 

  

Total Investments
(Cost $1,780,885,924) — 100.4%

   

      2,103,902,282   

Liabilities in Excess of Other
Assets — (0.4)%

   

      (8,596,304 ) 
    

 

 

  

Net Assets — 100.0%

      $ 2,095,305,978   
    

 

 

  

 

(a) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviation

REIT — Real Estate Investment Trust

 

 

See Notes to Financial Statements.

 

32

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Mid-Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 97.0%   

Consumer Discretionary 6.7%

  

Hanesbrands, Inc.

     715,000         20,263,100   

Johnson Controls, Inc.

     1,435,000         55,921,950   

Marriott International, Inc., Cl A(a)

     465,000         33,098,700   

Newell Rubbermaid, Inc.(a)

     575,000         25,466,750   

Ralph Lauren Corp.

     425,000         40,910,500   

Royal Caribbean Cruises Ltd.

     235,000         19,305,250   

Whirlpool Corp.

     175,000         31,559,500   
    

 

 

  
       226,525,750   
    

 

 

  

Energy 9.5%

     

Anadarko Petroleum Corp.

     1,025,000         47,734,250   

Cabot Oil & Gas Corp.

     1,200,000         27,252,000   

Marathon Petroleum Corp.

     1,300,000         48,334,000   

Noble Energy, Inc.

     1,550,000         48,685,500   

Patterson-UTI Energy, Inc.

     2,500,000         44,050,000   

Pioneer Natural Resources Co.

     750,000         105,555,000   
    

 

 

  
       321,610,750   
    

 

 

  

Financials 32.3%

     

Allstate Corp. (The)

     1,200,000         80,844,000   

American Campus Communities, Inc., REIT

     950,000         44,735,500   

Ameriprise Financial, Inc.

     985,000         92,599,850   

BankUnited, Inc.

     900,000         30,996,000   

BB&T Corp.

     1,040,000         34,600,800   

Capital One Financial Corp.

     525,000         36,387,750   

Corporate Office Properties Trust, REIT

     1,600,000         41,984,000   

Crown Castle International Corp., REIT

     565,000         48,872,500   

General Growth Properties, Inc., REIT

     1,400,000         41,622,000   

Hartford Financial Services Group, Inc. (The)

     1,765,000         81,331,200   

Invesco Ltd.

     2,175,000         66,924,750   

Lazard Ltd., Cl A

     2,500,000         97,000,000   

MB Financial, Inc.

     1,400,000         45,430,000   

PacWest Bancorp

     475,000         17,646,250   

Progressive Corp. (The)

     1,350,000         47,439,000   

Prologis, Inc., REIT

     850,000         37,553,000   

SL Green Realty Corp., REIT

     175,000         16,954,000   

Umpqua Holdings Corp.

     2,650,000         42,029,000   

Weyerhaeuser Co., REIT

     1,115,000         34,542,700   

Willis Towers Watson PLC

     610,000         72,382,600   

XL Group PLC

     2,100,000         77,280,000   
    

 

 

  
       1,089,154,900   
    

 

 

  

Health Care 8.4%

     

Agilent Technologies, Inc.

     1,475,000         58,778,750   

Baxalta, Inc.

     600,000         24,240,000   
     Shares      Value($)  

Health Care—continued

     

Cigna Corp.

     810,000         111,164,400   

Perrigo Co. PLC

     385,000         49,253,050   

STERIS PLC

     565,000         40,143,250   
    

 

 

  
       283,579,450   
    

 

 

  

Industrials 13.8%

     

Allison Transmission Holdings, Inc.

     655,000         17,671,900   

CSX Corp.

     980,000         25,235,000   

Delta Air Lines, Inc.

     625,000         30,425,000   

Donaldson Co., Inc.(a)

     404,200         12,898,022   

Hubbell, Inc.

     360,000         38,134,800   

Ingersoll-Rand PLC

     650,000         40,306,500   

ITT Corp.

     1,125,000         41,501,250   

J.B. Hunt Transport Services, Inc.

     300,000         25,272,000   

Macquarie Infrastructure Corp.

     740,000         49,905,600   

Orbital ATK, Inc.

     415,000         36,080,100   

Oshkosh Corp.(a)

     865,000         35,352,550   

Republic Services, Inc.

     175,000         8,338,750   

Rockwell Automation, Inc.

     200,000         22,750,000   

Stanley Black & Decker, Inc.

     200,000         21,042,000   

Tyco International PLC

     1,115,000         40,931,650   

Wabtec Corp.

     250,000         19,822,500   
    

 

 

  
       465,667,622   
    

 

 

  

Information Technology 12.2%

  

Analog Devices, Inc.

     450,000         26,635,500   

Applied Materials, Inc.

     2,900,000         61,422,000   

Cypress Semiconductor Corp.(a)

     12,500,000         108,250,000   

Harris Corp.

     840,000         65,402,400   

Hewlett Packard Enterprise Co.

     1,100,000         19,503,000   

Intersil Corp., Cl A

     1,960,800         26,215,896   

KLA-Tencor Corp.

     600,000         43,686,000   

Maxim Integrated Products, Inc.

     695,000         25,562,100   

Skyworks Solutions, Inc.

     460,000         35,834,000   
    

 

 

  
       412,510,896   
    

 

 

  

Materials 4.0%

     

Ashland, Inc.

     390,000         42,884,400   

Martin Marietta Materials, Inc.

     70,000         11,165,700   

Sherwin-Williams Co. (The)

     60,800         17,307,936   

WestRock Co.

     1,600,000         62,448,000   
    

 

 

  
       133,806,036   
    

 

 

  

Utilities 10.1%

     

Ameren Corp.

     930,000         46,593,000   

American Electric Power Co., Inc.

     590,000         39,176,000   
 

 

See Notes to Financial Statements.

 

33

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Mid-Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Utilities—continued

     

Edison International

     660,000         47,447,400   

Exelon Corp.

     1,000,000         35,860,000   

NextEra Energy Partners LP

     1,950,000         53,020,500   

PG&E Corp.

     450,000         26,874,000   

PPL Corp.

     1,150,000         43,780,500   

Sempra Energy

     455,000         47,342,750   
    

 

 

  
       340,094,150   
    

 

 

  

Total Common Stocks
(Cost $3,052,702,033)

        3,272,949,554   
    

 

 

  

Money Market Funds 7.4%

  

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.44%(b)

     90,734,439         90,734,439   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(b)(c)

     157,843,909         157,843,909   
    

 

 

  

Total Money Market Funds (Cost $248,578,348)

        248,578,348   
    

 

 

  

Total Investments
(Cost $3,301,280,381) — 104.4%

   

      3,521,527,902   

Liabilities in Excess of Other
Assets — (4.4)%

        (149,368,353 ) 
    

 

 

  

Net Assets — 100.0%

      $ 3,372,159,549   
    

 

 

  

 

(a) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $152,604,064.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(c) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(g)).

Investment Abbreviation

REIT — Real Estate Investment Trust

 

 

See Notes to Financial Statements.

 

34

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Small Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 99.7%     

Consumer Discretionary 17.7%

     

American Axle & Manufacturing Holdings, Inc.*

     27,666         425,780   

Cheesecake Factory, Inc. (The)

     11,834         628,267   

Cracker Barrel Old Country Store, Inc.(a)

     5,052         771,289   

Denny’s Corp.*

     58,987         611,105   

Dorman Products, Inc.*

     7,035         382,845   

Five Below, Inc.*(a)

     10,369         428,654   

G-III Apparel Group Ltd.*

     14,319         700,056   

Gray Television, Inc.*

     64,231         752,787   

Group 1 Automotive, Inc.

     7,522         441,466   

Kirkland’s, Inc.

     26,298         460,478   

Lithia Motors, Inc., Cl A

     3,891         339,801   

Monro Muffler Brake, Inc.

     8,662         619,073   

Penn National Gaming, Inc.*

     36,783         613,908   

Sinclair Broadcast Group, Inc., Cl A(a)

     23,357         718,228   

Tenneco, Inc.*

     16,215         835,235   

Wayfair, Inc., Cl A*(a)

     7,734         334,264   
    

 

 

  
       9,063,236   
    

 

 

  

Consumer Staples 1.8%

     

Casey’s General Stores, Inc.

     4,842         548,695   

Energizer Holdings, Inc.

     9,668         391,651   
    

 

 

  
       940,346   
    

 

 

  

Financials 6.7%

     

AMERISAFE, Inc.

     9,277         487,414   

Cardinal Financial Corp.

     26,691         543,162   

Evercore Partners, Inc., Cl A

     9,686         501,250   

Home BancShares, Inc.

     13,699         560,974   

MarketAxess Holdings, Inc.

     6,593         823,004   

Texas Capital Bancshares, Inc.*

     13,361         512,795   
    

 

 

  
       3,428,599   
    

 

 

  

Health Care 24.0%

     

ABIOMED, Inc.*

     10,168         964,028   

Adeptus Health, Inc., Cl A*(a)

     7,585         421,271   

AMN Healthcare Services, Inc.*

     21,180         711,860   

Amsurg Corp.*

     5,601         417,835   

Array BioPharma, Inc.*(a)

     67,073         197,865   

Cambrex Corp.*

     12,031         529,364   

Chemed Corp.

     2,786         377,364   

Depomed, Inc.*(a)

     24,894         346,773   

HealthSouth Corp.

     18,750         705,562   

ICON PLC*

     6,636         498,364   

Idera Pharmaceuticals, Inc.*(a)

     158,539         313,907   

Inogen, Inc.*

     13,513         607,815   

Insmed, Inc.*(a)

     19,602         248,357   

Keryx Biopharmaceuticals, Inc.*(a)

     55,878         260,950   

Ligand Pharmaceuticals, Inc.*(a)

     8,906         953,744   
     Shares      Value($)  

Health Care—continued

     

Molina Healthcare, Inc.*

     9,801         632,066   

Neurocrine Biosciences, Inc.*

     11,970         473,414   

NuVasive, Inc.*

     11,878         577,865   

NxStage Medical, Inc.*

     38,496         577,055   

Omnicell, Inc.*

     22,808         635,659   

Portola Pharmaceuticals, Inc.*

     14,080         287,232   

Radius Health, Inc.*(a)

     8,926         280,633   

Team Health Holdings, Inc.*

     12,565         525,343   

Ultragenyx Pharmaceutical, Inc.*

     5,829         369,034   

Vanda Pharmaceuticals, Inc.*(a)

     46,193         386,173   
    

 

 

  
       12,299,533   
    

 

 

  

Industrials 19.8%

     

AAON, Inc.

     29,296         820,288   

Allegiant Travel Co.

     2,379         423,605   

American Woodmark Corp.*

     5,696         424,865   

AZZ, Inc.

     8,604         486,986   

Badger Meter, Inc.(a)

     9,009         599,189   

Beacon Roofing Supply, Inc.*

     14,164         580,866   

Comfort Systems USA, Inc.

     20,377         647,377   

Dycom Industries, Inc.*(a)

     10,789         697,725   

Forward Air Corp.

     14,032         635,930   

Hawaiian Holdings, Inc.*

     10,713         505,546   

Healthcare Services Group, Inc.

     14,688         540,665   

HEICO Corp.

     10,257         616,753   

HNI Corp.

     14,934         584,965   

Knight Transportation, Inc.

     11,708         306,164   

Korn/Ferry International

     12,940         366,073   

Simpson Manufacturing Co., Inc.

     18,922         722,253   

Trex Co., Inc.*

     13,494         646,767   

Universal Forest Products, Inc.

     6,371         546,759   
    

 

 

  
       10,152,776   
    

 

 

  

Information Technology 26.0%

     

Aspen Technology, Inc.*

     18,526         669,344   

Cavium, Inc.*

     10,138         620,040   

CSG Systems International, Inc.

     17,543         792,242   

Demandware, Inc.*

     15,080         589,628   

Ellie Mae, Inc.*

     7,963         721,766   

Euronet Worldwide, Inc.*

     7,799         577,984   

FleetMatics Group PLC*

     11,548         470,119   

Guidewire Software, Inc.*

     13,168         717,393   

Heartland Payment Systems, Inc.

     5,379         519,450   

Imperva, Inc.*(a)

     15,367         776,034   

Inphi Corp.*

     19,224         640,928   

Integrated Device Technology, Inc.*

     34,814         711,598   

Littelfuse, Inc.

     7,350         904,859   

LogMeIn, Inc.*

     7,064         356,449   

Manhattan Associates, Inc.*

     17,674         1,005,120   

NIC, Inc.

     17,319         312,262   

Paycom Software, Inc.*

     11,217         399,325   

Proofpoint, Inc.*(a)

     16,937         910,872   
 

 

See Notes to Financial Statements.

 

35

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Small Cap Growth Stock Fund — concluded

 

     Shares      Value($)  

Information Technology—continued

  

Q2 Holdings, Inc.*

     29,455         708,098   

Synaptics, Inc.*

     6,109         487,132   

Virtusa Corp.*

     11,843         443,639   
    

 

 

  
       13,334,282   
    

 

 

  

Materials 2.6%

     

Balchem Corp.

     9,740         604,075   

GCP Applied Technologies, Inc.*

     15,896         316,966   

HB Fuller Co.

     9,575         406,459   
    

 

 

  
       1,327,500   
    

 

 

  

Telecommunication Services 1.1%

  

8x8, Inc.*

     55,726         560,604   
    

 

 

  

Total Common Stocks
(Cost $46,025,809)

        51,106,876   
    

 

 

  
     Shares      Value($)  

Money Market Funds 16.7%

     

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.44%(b)

     333,280         333,280   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(b)(c)

     8,244,601         8,244,601   
    

 

 

  

Total Money Market Funds
(Cost $8,577,881)

        8,577,881   
    

 

 

  

Total Investments
(Cost $54,603,690) — 116.4%

        59,684,757   

Liabilities in Excess of Other Assets — (16.4)%

        (8,418,669 ) 
    

 

 

  

Net Assets — 100.0%

      $ 51,266,088   
    

 

 

  

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $7,995,415.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(c) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(g)).
 

 

See Notes to Financial Statements.

 

36

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Small Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 98.9%     

Consumer Discretionary 17.0%

     

AMC Entertainment Holdings, Inc., Cl A

     993,140         27,797,988   

Chico’s FAS, Inc.

     1,051,000         13,946,770   

Guess?, Inc.

     1,155,854         21,695,379   

HSN, Inc.

     489,060         25,582,729   

Matthews International Corp., Cl A

     58,040         2,987,319   

MDC Partners, Inc., Cl A

     275,700         6,506,520   

Meredith Corp.

     11,690         555,275   

Papa John’s International, Inc.

     16,300         883,297   

Regal Entertainment Group, Cl A

     747,900         15,810,606   

Ruth’s Hospitality Group, Inc.

     208,670         3,841,615   

Scholastic Corp.

     238,990         8,931,056   

Sonic Automotive, Inc., Cl A

     594,470         10,985,806   

Thor Industries, Inc.

     313,980         20,022,505   

Tupperware Brands Corp.

     77,700         4,505,046   

Wolverine World Wide, Inc.

     23,500         432,870   
    

 

 

  
       164,484,781   
    

 

 

  

Consumer Staples 8.4%

     

B&G Foods, Inc.

     677,700         23,590,737   

Calavo Growers, Inc.

     27,100         1,546,326   

Energizer Holdings, Inc.

     821,600         33,283,016   

Inter Parfums, Inc.

     229,200         7,082,280   

PriceSmart, Inc.

     23,200         1,962,256   

Sanderson Farms, Inc.

     153,501         13,842,720   
    

 

 

  
       81,307,335   
    

 

 

  

Energy 0.8%

     

Bristow Group, Inc.

     406,260         7,686,439   
    

 

 

  

Financials 24.5%

     

Alexander & Baldwin, Inc.

     326,010         11,958,047   

Banco Latinoamericano de Expectaciones SA, Cl E

     59,670         1,445,207   

Bank of Hawaii Corp.

     298,040         20,350,171   

Cohen & Steers, Inc.

     401,200         15,614,704   

Evercore Partners, Inc., Cl A

     383,720         19,857,510   

Hanover Insurance Group, Inc. (The)

     354,070         31,944,195   

Horace Mann Educators Corp.

     388,200         12,302,058   

Medical Properties Trust, Inc., REIT

     1,988,130         25,805,927   

Monmouth Real Estate Investment Corp., Cl A REIT

     68,650         816,249   

Oppenheimer Holdings, Inc., Cl A

     14,910         235,280   

Outfront Media, Inc., REIT

     932,195         19,669,314   

Parkway Properties, Inc., REIT

     1,113,250         17,433,495   

Post Properties, Inc., REIT

     141,104         8,429,553   

Primerica, Inc.

     433,500         19,303,755   

Tanger Factory Outlet Centers, Inc., REIT

     370,100         13,467,939   

Trust Co Bank Corp. NY

     251,250         1,522,575   
     Shares      Value($)  

Financials—continued

     

UMB Financial Corp.

     335,450         17,319,284   
    

 

 

  
       237,475,263   
    

 

 

  

Health Care 4.2%

     

Ensign Group, Inc.

     171,440         3,881,401   

Hill-Rom Holdings, Inc.

     546,530         27,490,459   

Landauer, Inc.

     273,640         9,049,275   
    

 

 

  
       40,421,135   
    

 

 

  

Industrials 29.9%

     

AAR Corp.

     340,170         7,915,756   

ABM Industries, Inc.

     478,627         15,464,438   

Advanced Drainage Systems, Inc.

     204,600         4,357,980   

Badger Meter, Inc.

     229,391         15,256,796   

BWX Technologies, Inc.

     183,300         6,151,548   

China Yuchai International Ltd.

     73,190         720,922   

CLARCOR, Inc.

     384,750         22,234,703   

Covanta Holding Corp.

     1,195,400         20,154,444   

Cubic Corp.

     272,300         10,881,108   

EMCOR Group, Inc.

     339,840         16,516,224   

Fortress Transportation & Infrastructure Investors LLC

     116,500         1,159,175   

Forward Air Corp.

     407,700         18,476,964   

Granite Construction, Inc.

     53,340         2,549,652   

Herman Miller, Inc.

     746,880         23,071,123   

Interface, Inc.

     20,261         375,639   

Kelly Services, Inc., Cl A

     946,910         18,104,919   

Kforce, Inc.

     234,400         4,589,552   

Knoll, Inc.

     590,400         12,782,160   

Luxfer Holdings PLC ADR

     212,510         2,254,731   

MSA Safety, Inc.

     176,702         8,543,542   

Mueller Water Products, Inc., Cl A

     2,031,630         20,072,504   

Multi-Color Corp.

     91,200         4,865,520   

NN, Inc.

     124,100         1,697,688   

Progressive Waste Solutions Ltd.

     1,081,364         33,554,725   

Sun Hydraulics Corp.

     31,120         1,032,873   

Tennant Co.

     40,680         2,094,206   

Tetra Tech, Inc.

     300,600         8,963,892   

Viad Corp.

     212,190         6,187,460   
    

 

 

  
       290,030,244   
    

 

 

  

Information Technology 7.9%

     

Black Box Corp.

     54,500         734,115   

Daktronics, Inc.

     690,450         5,454,555   

Fair Isaac Corp.

     473,850         50,270,747   

Plantronics, Inc.

     529,660         20,757,375   
    

 

 

  
       77,216,792   
    

 

 

  

Materials 2.9%

     

A. Schulman, Inc.

     10,600         288,532   

Carpenter Technology Corp.

     236,500         8,095,395   
 

 

See Notes to Financial Statements.

 

37

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Small Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Materials—continued

     

Haynes International, Inc.

     116,530         4,253,345   

Hecla Mining Co.

     5,455,440         15,166,123   
    

 

 

  
       27,803,395   
    

 

 

  

Utilities 3.3%

     

ALLETE, Inc.

     202,240         11,339,597   

California Water Service Group

     383,990         10,260,213   

NorthWestern Corp.

     169,800         10,485,150   
    

 

 

  
       32,084,960   
    

 

 

  

Total Common Stocks
(Cost $798,359,044)

        958,510,344   
    

 

 

  

Total Investments
(Cost $798,359,044) — 98.9%

        958,510,344   

Other Assets in Excess of Liabilities — 1.1%

        10,389,808   
    

 

 

  

Net Assets — 100.0%

      $ 968,900,152   
    

 

 

  

Investment Abbreviations

 

ADR   —   American Depositary Receipt
REIT   —   Real Estate Investment Trust
 

 

See Notes to Financial Statements.

 

38

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Aggressive Growth Allocation Strategy

 

     Shares      Value($)  

Equity Funds 67.7%

     

RidgeWorth International Equity Fund(a)

     36,978         344,261   

RidgeWorth Large Cap Growth Stock Fund(a)

     228,443         2,145,082   

RidgeWorth Large Cap Value Equity Fund(a)

     98,912         1,460,925   

RidgeWorth Mid-Cap Value Equity Fund(a)

     46,042         569,076   

RidgeWorth Small Cap Growth Stock Fund(a)

     15,500         132,837   

RidgeWorth Small Cap Value Equity Fund(b)

     12,445         140,623   
    

 

 

  

Total Equity Funds
(Cost $3,810,920)

        4,792,804   
    

 

 

  

Fixed Income Funds 7.2%

     

RidgeWorth Seix Core Bond Fund(a)

     28         307   

RidgeWorth Seix Corporate Bond Fund(b)

     3,115         26,354   

RidgeWorth Seix Floating Rate High Income Fund(a)

     1,023         8,522   

RidgeWorth Seix High Income Fund(a)

     1,484         8,784   

RidgeWorth Seix High Yield Fund(b)

     1,114         8,689   

RidgeWorth Seix Total Return Bond Fund(a)

     37,107         395,935   

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund(b)

     6,466         64,857   
    

 

 

  

Total Fixed Income Funds
(Cost $508,729)

        513,448   
    

 

 

  

Exchange Traded Funds 22.4%

     

Consumer Discretionary Select Sector SPDR Fund

     525         41,501   

Consumer Staples Select Sector SPDR Fund

     251         13,316   

Energy Select Sector SPDR Fund

     188         11,641   

Financial Select Sector SPDR Fund

     2,161         48,644   

Health Care Select Sector SPDR Fund

     680         46,090   

Industrial Select Sector SPDR Fund

     520         28,844   

iShares Barclays 20+ Year Treasury Bond Fund

     98         12,800   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     92         10,547   
     Shares      Value($)  

Exchange Traded Funds—continued

  

iShares Core S&P 500 Fund

     230         47,530   

iShares Core U.S. Aggregate Bond Fund

     5,395         597,982   

iShares Currency Hedged MSCI EAFE Fund

     20,937         499,766   

iShares Currency Hedged MSCI Emerging Markets Fund

     82         1,696   

iShares Dow Jones U.S. Real Estate Index Fund

     80         6,229   

iShares MSCI EAFE Fund

     32         1,828   

iShares MSCI Emerging Markets Index Fund

     61         2,089   

iShares Russell 2000 Index Fund

     151         16,704   

Market Vectors Gold Miners Fund

     6,991         139,680   

Materials Select Sector SPDR Fund

     77         3,450   

Technology Select Sector SPDR Fund

     1,283         56,914   

Utilities Select Sector SPDR Fund

     8         397   
    

 

 

  

Total Exchange Traded Funds
(Cost $1,509,261)

        1,587,648   
    

 

 

  

Money Market Fund 3.8%

     

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.19%(c)

     271,087         271,087   
    

 

 

  

Total Money Market Fund
(Cost $271,087)

        271,087   
    

 

 

  

Total Investments
(Cost $6,099,997) — 101.1%

        7,164,987   

Liabilities in Excess of Other
Assets — (1.1)%

        (81,334 ) 
    

 

 

  

Net Assets — 100.0%

      $ 7,083,653   
    

 

 

  

 

(a) Affiliated investments. Investments are in each Fund’s IS Shares.

 

(b) Affiliated investments. Investments are in each Fund’s I Shares.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

EAFE   —   Europe, Australasia and Far East
MSCI   —   Morgan Stanley Capital International
SPDR   —   Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

39

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Conservative Allocation Strategy

 

     Shares      Value($)  

Equity Funds 26.9%

     

RidgeWorth International Equity
Fund(a)

     133,433         1,242,262   

RidgeWorth Large Cap Growth Stock
Fund(a)

     831,070         7,803,743   

RidgeWorth Large Cap Value Equity
Fund(a)

     361,137         5,333,996   

RidgeWorth Mid-Cap Value Equity
Fund(a)

     166,150         2,053,609   

RidgeWorth Small Cap Growth Stock
Fund(a)

     55,867         478,779   

RidgeWorth Small Cap Value Equity
Fund(b)

     44,961         508,059   
    

 

 

  

Total Equity Funds
(Cost $16,460,328)

        17,420,448   
    

 

 

  

Fixed Income Funds 35.7%

     

RidgeWorth Seix Core Bond Fund(a)

     787         8,551   

RidgeWorth Seix Corporate Bond Fund(b)

     126,239         1,067,983   

RidgeWorth Seix Floating Rate High Income
Fund(a)

     42,104         350,728   

RidgeWorth Seix High Income Fund(a)

     61,354         363,213   

RidgeWorth Seix High Yield Fund(b)

     46,057         359,242   

RidgeWorth Seix Total Return Bond Fund(a)

     1,711,650         18,263,309   

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund(b)

     264,754         2,655,483   
    

 

 

  

Total Fixed Income Funds
(Cost $22,868,410)

        23,068,509   
    

 

 

  

Exchange Traded Funds 35.0%

     

Consumer Discretionary Select Sector SPDR Fund

     1,672         132,172   

Consumer Staples Select Sector SPDR Fund

     789         41,856   

Energy Select Sector SPDR Fund

     611         37,833   

Financial Select Sector SPDR Fund

     6,877         154,801   

Health Care Select Sector SPDR Fund

     2,172         147,218   

Industrial Select Sector SPDR Fund

     1,657         91,914   

iShares Barclays 20+ Year Treasury Bond Fund

     4,032         526,619   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     3,793         434,830   
     Shares      Value($)  

Exchange Traded Funds—continued

  

iShares Core S&P 500 Fund

     799         165,113   

iShares Core U.S. Aggregate Bond Fund

     164,749         18,260,779   

iShares Currency Hedged MSCI EAFE Fund

     75,680         1,806,482   

iShares Currency Hedged MSCI Emerging Markets Fund

     277         5,728   

iShares Dow Jones U.S. Real Estate Index Fund

     303         23,592   

iShares MSCI EAFE Fund

     122         6,970   

iShares MSCI Emerging Markets Index Fund

     195         6,679   

iShares Russell 2000 Index Fund

     565         62,500   

Market Vectors Gold Miners Fund

     25,268         504,855   

Materials Select Sector SPDR Fund

     254         11,382   

Technology Select Sector SPDR Fund

     4,080         180,989   

Utilities Select Sector SPDR Fund

     10         496   
    

 

 

  

Total Exchange Traded Funds
(Cost $22,023,040)

        22,602,808   
    

 

 

  

Money Market Fund 2.6%

     

State Street Institutional Treasury Money Market Fund, Institutional Class,
0.19%(c)

     1,686,970         1,686,970   
    

 

 

  

Total Money Market Fund
(Cost $1,686,970)

        1,686,970   
    

 

 

  

Total Investments
(Cost $63,038,748) — 100.2%

        64,778,735   

Liabilities in Excess of Other
Assets — (0.2)%

        (113,081 ) 
    

 

 

  

Net Assets — 100.0%

      $ 64,665,654   
    

 

 

  

 

(a) Affiliated investments. Investments are in each Fund’s IS Shares.

 

(b) Affiliated investments. Investments are in each Fund’s I Shares.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

EAFE   —   Europe, Australasia and Far East
MSCI   —   Morgan Stanley Capital International
SPDR   —   Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

40

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Growth Allocation Strategy

 

     Shares      Value($)  

Equity Funds 61.0%

     

RidgeWorth International Equity Fund(a)

     225,468         2,099,109   

RidgeWorth Large Cap Growth Stock
Fund(a)

     1,397,584         13,123,312   

RidgeWorth Large Cap Value Equity
Fund(a)

     606,458         8,957,381   

RidgeWorth Mid-Cap Value Equity
Fund(a)

     280,471         3,466,626   

RidgeWorth Small Cap Growth Stock
Fund(a)

     93,941         805,071   

RidgeWorth Small Cap Value Equity
Fund(b)

     75,768         856,181   
    

 

 

  

Total Equity Funds
(Cost $24,740,959)

        29,307,680   
    

 

 

  

Fixed Income Funds 12.9%

     

RidgeWorth Seix Core Bond Fund(a)

     259         2,809   

RidgeWorth Seix Corporate Bond Fund(b)

     33,890         286,705   

RidgeWorth Seix Floating Rate High Income
Fund(a)

     11,197         93,273   

RidgeWorth Seix High Income Fund(a)

     16,517         97,783   

RidgeWorth Seix High Yield Fund(b)

     12,268         95,690   

RidgeWorth Seix Total Return Bond Fund(a)

     459,115         4,898,755   

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund(b)

     70,891         711,041   
    

 

 

  

Total Fixed Income Funds
(Cost $5,817,066)

        6,186,056   
    

 

 

  

Exchange Traded Funds 22.7%

     

Consumer Discretionary Select Sector SPDR Fund

     3,023         238,968   

Consumer Staples Select Sector SPDR Fund

     1,460         77,453   

Energy Select Sector SPDR Fund

     1,068         66,131   

Financial Select Sector SPDR Fund

     12,419         279,552   

Health Care Select Sector SPDR Fund

     3,885         263,325   

Industrial Select Sector SPDR Fund

     3,030         168,074   

iShares Barclays 20+ Year Treasury Bond Fund

     1,083         141,451   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     1,013         116,130   
     Shares      Value($)  

Exchange Traded Funds—continued

  

iShares Core S&P 500 Fund

     1,327         274,225   

iShares Core U.S. Aggregate Bond Fund

     44,022         4,879,399   

iShares Currency Hedged MSCI EAFE Fund

     127,520         3,043,902   

iShares Currency Hedged MSCI Emerging Markets Fund

     533         11,022   

iShares Dow Jones U.S. Real Estate Index Fund

     526         40,954   

iShares MSCI EAFE Fund

     213         12,169   

iShares MSCI Emerging Markets Index Fund

     328         11,234   

iShares Russell 2000 Index Fund

     968         107,080   

Market Vectors Gold Miners Fund

     42,755         854,245   

Materials Select Sector SPDR Fund

     510         22,853   

Technology Select Sector SPDR Fund

     7,389         327,776   

Utilities Select Sector SPDR Fund

     23         1,141   
    

 

 

  

Total Exchange Traded Funds
(Cost $10,413,857)

        10,937,084   
    

 

 

  

Money Market Fund 3.4%

     

State Street Institutional Treasury Money Market Fund, Institutional Class,
0.19%(c)

     1,646,538         1,646,538   
    

 

 

  

Total Money Market Fund
(Cost $1,646,538)

        1,646,538   
    

 

 

  

Total Investments
(Cost $42,618,420) — 100.0%

        48,077,358   

Liabilities in Excess of Other
Assets — (0.0)%(d)

        (15,539 ) 
    

 

 

  

Net Assets — 100.0%

      $ 48,061,819   
    

 

 

  

 

(a) Affiliated investments. Investments are in each Fund’s IS Shares.

 

(b) Affiliated investments. Investments are in each Fund’s I Shares.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(d) Less than 0.05% of Net Assets.

Investment Abbreviations

 

EAFE   —   Europe, Australasia and Far East
MSCI   —   Morgan Stanley Capital International
SPDR   —   Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

41

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Moderate Allocation Strategy

 

     Shares      Value($)  

Equity Funds 43.2%

     

RidgeWorth International Equity
Fund(a)

     229,673         2,138,257   

RidgeWorth Large Cap Growth Stock
Fund(a)

     1,427,377         13,403,070   

RidgeWorth Large Cap Value Equity
Fund(a)

     619,860         9,155,333   

RidgeWorth Mid-Cap Value Equity
Fund(a)

     285,572         3,529,675   

RidgeWorth Small Cap Growth Stock
Fund(a)

     96,134         823,866   

RidgeWorth Small Cap Value Equity
Fund(b)

     77,312         873,622   
    

 

 

  

Total Equity Funds
(Cost $24,137,198)

        29,923,823   
    

 

 

  

Fixed Income Funds 24.1%

     

RidgeWorth Seix Core Bond Fund(a)

     704         7,647   

RidgeWorth Seix Corporate Bond Fund(b)

     91,110         770,788   

RidgeWorth Seix Floating Rate High Income Fund(a)

     30,547         254,453   

RidgeWorth Seix High Income Fund(a)

     44,701         264,632   

RidgeWorth Seix High Yield Fund(b)

     33,272         259,521   

RidgeWorth Seix Total Return Bond
Fund(a)

     1,234,708         13,174,330   

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund(b)

     191,200         1,917,741   
    

 

 

  

Total Fixed Income Funds
(Cost $15,596,421)

        16,649,112   
    

 

 

  

Exchange Traded Funds 28.5%

     

Consumer Discretionary Select Sector SPDR Fund

     2,953         233,435   

Consumer Staples Select Sector SPDR Fund

     1,465         77,718   

Energy Select Sector SPDR Fund

     1,055         65,326   

Financial Select Sector SPDR Fund

     12,254         275,838   

Health Care Select Sector SPDR Fund

     3,849         260,885   

Industrial Select Sector SPDR Fund

     2,909         161,362   

iShares Barclays 20+ Year Treasury Bond Fund

     2,915         380,728   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     2,735         313,540   
     Shares      Value($)  

Exchange Traded Funds—continued

  

iShares Core S&P 500 Fund

     1,293         267,198   

iShares Core U.S. Aggregate Bond Fund

     119,361         13,229,973   

iShares Currency Hedged MSCI EAFE Fund

     129,946         3,101,811   

iShares Currency Hedged MSCI Emerging Markets Fund

     508         10,505   

iShares Dow Jones U.S. Real Estate Index Fund

     515         40,098   

iShares MSCI EAFE Fund

     205         11,712   

iShares MSCI Emerging Markets Index Fund

     390         13,357   

iShares Russell 2000 Index Fund

     958         105,974   

Market Vectors Gold Miners Fund

     43,415         867,432   

Materials Select Sector SPDR Fund

     497         22,271   

Technology Select Sector SPDR Fund

     7,255         321,832   

Utilities Select Sector SPDR Fund

     17         844   
    

 

 

  

Total Exchange Traded Funds
(Cost $18,954,781)

        19,761,839   
    

 

 

  

Money Market Fund 4.3%

     

State Street Institutional Treasury Money Market Fund, Institutional Class,
0.19%(c)

     2,950,327         2,950,327   
    

 

 

  

Total Money Market Fund
(Cost $2,950,327)

        2,950,327   
    

 

 

  

Total Investments
(Cost $61,638,727) — 100.1%

        69,285,101   

Liabilities in Excess of Other
Assets — (0.1)%

        (54,147 ) 
    

 

 

  

Net Assets — 100.0%

      $ 69,230,954   
    

 

 

  

 

(a) Affiliated investments. Investments are in each Fund’s IS Shares.

 

(b) Affiliated investments. Investments are in each Fund’s I Shares.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

EAFE   —   Europe, Australasia and Far East
MSCI   —   Morgan Stanley Capital International
SPDR   —   Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

42

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Aggressive
Growth Stock
Fund		     Capital
Innovations
Global Resources
and Infrastructure
Fund		     International
Equity Fund		     Large Cap
Growth Stock
Fund		  

Assets:

         

Total Investments, at Cost

      $16,602,924        $3,570,177        $40,087,598        $137,611,128   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $26,228,878        $3,386,294        $41,454,557        $252,651,016   

Cash

      —        976        —        —   

Interest and Dividends Receivable

      2,274        13,653        28,560        38,904   

Securities Lending Income Receivable

      —        —        1,499        1,301   

Receivable for Capital Shares Issued

      61,303        60        79,296        139,022   

Receivable for Investment Securities Sold

      272,240        —        —        5,389,386   

Reclaims Receivable

      —        2,789        164,540        —   

Receivable from Investment Adviser

      2,481        73,143        27,561        26,360   

Prepaid Expenses and Other Assets

      10,108        11,865        21,776        25,623   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      26,577,284        3,488,780        41,777,789        258,271,612   
  

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

         

Payable for Investment Securities Purchased

      100,872        —        —        5,126,127   

Payable for Capital Shares Redeemed

      14,064        96        26,291        183,876   

Payable Upon Return of Securities Loaned

      —        —        3,345,648        2,753,300   

Line of Credit Payable

      89,949        —        —        —   

Investment Advisory Fees Payable

      18,220        2,780        25,712        144,662   

Compliance and Fund Services Fees Payable

      559        33        777        5,368   

Distribution and Service Fees Payable

      2,084        700        931        48,624   

Trustee Fees Payable

      1        1        1        10   

Filing Fee Payable

      —        45,536        —        —   

Other Accrued Expenses

      21,345        31,006        34,834        160,140   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      247,094        80,152        3,434,194        8,422,107   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $26,330,190        $3,408,628        $38,343,595        $249,849,505   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

         

Capital

      $16,867,720        $4,421,525        $38,243,075        $133,584,729   

Accumulated Net Investment Income (Loss)

      (79,099 )      18,707        225,036        (192,950 ) 

Accumulated Net Realized Gain (Loss) from Investments and Foreign Currency Transactions

      (84,385 )      (847,725 )      (1,498,181 )      1,417,838   

Net Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies

      9,625,954        (183,879 )      1,373,665        115,039,888   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $26,330,190        $3,408,628        $38,343,595        $249,849,505   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

         

I Shares

      $18,203,368        $1,954,768        $28,756,151        $110,561,826   

A Shares

      8,126,822        1,249,560        3,755,587        62,114,564   

C Shares

      —        204,300        —        40,086,031   

IS Shares

      —        —        5,831,857        37,087,084   

Shares Outstanding (unlimited number of shares authorized, no par value)

         

I Shares

      952,672        216,199        3,091,970        11,792,766   

A Shares

      442,350        138,390        409,092        7,951,140   

C Shares

      —        22,953        —        7,358,367   

IS Shares

      —        —        626,667        3,947,575   

Net Asset Value and Redemption Price Per Share:

         

I Shares

      $19.11        $9.04        $9.30        $9.38   

A Shares

      18.37        9.03        9.18        7.81   

C Shares(a)

      —        8.90        —        5.45   

IS Shares

      —        —        9.31        9.39   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

         

A Shares

      $19.49        $9.58        $9.74        $8.29   

Maximum Sales Charge — A Shares

      5.75 %      5.75 %      5.75 %      5.75 % 

 

* Investments include securities on loan of $—, $—, $3,320,910 and $7,711,018, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

43

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Large Cap
Value Equity
Fund		     Mid-Cap
Value Equity
Fund		     Small Cap
Growth Stock
Fund		     Small Cap
Value Equity
Fund		  

Assets:

         

Total Investments, at Cost

      $1,780,885,924        $3,301,280,381        $54,603,690        $798,359,044   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $2,103,902,282        $3,521,527,902        $59,684,757        $958,510,344   

Cash

      —        —        —        1,253   

Interest and Dividends Receivable

      2,922,315        5,773,669        5,701        2,018,822   

Securities Lending Income Receivable

      —        34,240        8,920        —   

Receivable for Capital Shares Issued

      848,682        2,030,203        26,259        711,771   

Receivable for Investment Securities Sold

      3,794,428        71,263,838        —        15,056,331   

Reclaims Receivable

      —        —        —        38,346   

Receivable from Investment Adviser

      197,635        26,605        2,515        —   

Prepaid Expenses and Other Assets

      47,647        85,220        22,229        34,469   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      2,111,712,989        3,600,741,677        59,750,381        976,371,336   
  

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

         

Payable for Investment Securities Purchased

      10,104,813        55,498,089        —        3,843,825   

Payable for Capital Shares Redeemed

      3,273,272        10,146,380        141,726        1,830,737   

Payable Upon Return of Securities Loaned

      —        157,843,909        8,244,601        —   

Line of Credit Payable

      —        —        —        253,160   

Investment Advisory Fees Payable

      1,144,486        1,947,914        35,816        666,450   

Compliance and Fund Services Fees Payable

      45,453        73,283        1,098        20,740   

Distribution and Service Fees Payable

      106,469        155,723        5,527        53,318   

Trustee Fees Payable

      84        136        2        38   

Other Accrued Expenses

      1,732,434        2,916,694        55,523        802,916   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      16,407,011        228,582,128        8,484,293        7,471,184   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $2,095,305,978        $3,372,159,549        $51,266,088        $968,900,152   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

         

Capital

      $1,822,757,550        $3,204,947,716        $43,963,455        $836,798,787   

Accumulated Net Investment Income (Loss)

      5,948,067        10,555,383        (82,836 )      1,382,858   

Accumulated Net Realized Gain (Loss) from Investments Transactions

      (56,415,997 )      (63,591,071 )      2,304,402        (29,434,357 ) 

Net Unrealized Appreciation on Investments

      323,016,358        220,247,521        5,081,067        160,152,864   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $2,095,305,978        $3,372,159,549        $51,266,088        $968,900,152   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

         

I Shares

      $1,440,586,702        $2,717,760,957        $36,436,225        $820,123,791   

A Shares

      362,805,449        397,599,185        6,855,673        121,366,611   

C Shares

      19,052,655        64,159,800        4,685,688        27,409,750   

IS Shares

      272,861,172        192,639,607        3,288,502        —   

Shares Outstanding (unlimited number of shares authorized, no par value)

         

I Shares

      97,902,458        220,188,355        4,277,691        72,579,973   

A Shares

      24,848,747        32,534,988        962,057        11,068,919   

C Shares

      1,334,652        5,363,771        1,208,637        2,730,695   

IS Shares

      18,476,040        15,591,718        383,644        —   

Net Asset Value and Redemption Price Per Share:

         

I Shares

      $14.71        $12.34        $8.52        $11.30   

A Shares

      14.60        12.22        7.13        10.96   

C Shares(a)

      14.28        11.96        3.88        10.04   

IS Shares

      14.77        12.36        8.57        —   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

         

A Shares

      $15.49        $12.97        $7.56        $11.63   

Maximum Sales Charge — A Shares

      5.75 %      5.75 %      5.75 %      5.75 % 

 

* Investments include securities on loan of $—, $152,604,064, $7,995,415 and $—, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

44

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Aggressive
Growth Allocation
Strategy		     Conservative
Allocation
Strategy		     Growth
Allocation
Strategy		     Moderate
Allocation
Strategy		  

Assets:

         

Total Investments, at Cost

      $6,099,997        $63,038,748        $42,618,420        $61,638,727   
  

 

 

    

 

 

    

 

 

    

 

 

  

Investments in Affiliates, at Value

      5,306,252        40,488,957        35,493,736        46,572,935   

Investments in Unaffiliated, at Value

      $1,858,735        $24,289,778        $12,583,622        $22,712,166   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments

      7,164,987        64,778,735        48,077,358        69,285,101   
  

 

 

    

 

 

    

 

 

    

 

 

  

Dividends Receivable

      1,058        45,701        12,204        33,318   

Receivable for Capital Shares Issued

      3,810        70,303        34,789        54,592   

Receivable from Investment Adviser

      7,080        5,839        7,808        7,936   

Prepaid Expenses and Other Assets

      19,578        18,999        20,434        20,204   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      7,196,513        64,919,577        48,152,593        69,401,151   
  

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

         

Payable for Investment Securities Purchased

      1,032        47,394        12,415        34,389   

Payable for Capital Shares Redeemed

      96,159        155,527        14,649        57,503   

Investment Advisory Fees Payable

      602        5,458        4,049        5,781   

Compliance and Fund Services Fees Payable

      157        1,415        1,046        1,505   

Distribution and Service Fees Payable

      1,567        19,856        4,091        12,473   

Trustee Fees Payable

      —        3        2        3   

Other Accrued Expenses

      13,343        24,270        54,522        58,543   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      112,860        253,923        90,774        170,197   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $7,083,653        $64,665,654        $48,061,819        $69,230,954   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

         

Capital

      $5,685,276        $63,122,496        $41,045,294        $59,469,970   

Accumulated Net Investment Income (Loss)

      —        125,029        14,594        62,876   

Accumulated Net Realized Gain (Loss) from Investments Transactions

      333,387        (321,858 )      1,542,993        2,051,734   

Net Unrealized Appreciation on Investments

      1,064,990        1,739,987        5,458,938        7,646,374   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $7,083,653        $64,665,654        $48,061,819        $69,230,954   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

         

I Shares

      $2,581,511        $31,067,315        $38,193,796        $45,979,621   

A Shares

      3,806,919        14,462,088        7,255,071        11,972,410   

C Shares

      695,223        19,136,251        2,612,952        11,278,923   

Shares Outstanding (unlimited number of shares authorized, no par value)

         

I Shares

      430,308        2,586,652        3,772,066        5,078,840   

A Shares

      643,704        1,204,663        720,184        1,328,849   

C Shares

      122,661        1,613,371        265,456        1,263,302   

Net Asset Value and Redemption Price Per Share:

         

I Shares

      $6.00        $12.01        $10.13        $9.05   

A Shares

      5.91        12.01        10.07        9.01   

C Shares(a)

      5.67        11.86        9.84        8.93   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

         

A Shares

      $6.27        $12.61        $10.68        $9.56   

Maximum Sales Charge — A Shares

      5.75 %      4.75 %      5.75 %      5.75 % 

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

45

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year or Period Ended March 31, 2016

 

     Aggressive
Growth
Stock Fund		     Capital
Innovations
Global
Resources and
Infrastructure
Fund*		     Capital
Innovations
Global
Resources and
Infrastructure
Fund**		     International
Equity Fund		  

Investment Income:

         

Dividend Income

      $36,281        $46,942        $322,106        $654,494   

Interest Income

      —        —        7        —   

Net Income from Securities Lending

      —        —        —        15,269   

Less: Foreign Taxes Withheld

      —        (748 )      (13,797 )      (59,006 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      36,281        46,194        308,316        610,757   
  

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

         

Investment Advisory Fees

      281,146        12,828        131,221        228,606   

Administration Fees

      3,333        9,783        49,199        2,643   

Fund Accounting Fees

      3,172        2,331        28,014        2,637   

Transfer Agency Fees

      18,396        15,257        57,648        16,042   

Compliance & Fund Services Fees

      2,595        3,110        16,263        2,147   

Distribution and Service Fees — A Shares

      36,331        1,012        6,667        11,734   

Distribution and Service Fees — C Shares

      —        753        5,409        —   

Shareholder Servicing Fees

      —        —        11,367        —   

Shareholder Servicing Fees — I Shares

      57,480        107        —        30,427   

Shareholder Servicing Fees — A Shares

      9,268        62        —        406   

Custodian Fees

      8,994        2,570        16,279        39,011   

Printing Fees

      4,357        10,461        6,931        11,971   

Registration Fees

      31,349        33,735        42,118        40,461   

Trustee Fees

      1,401        3,500        5,551        1,115   

Professional Fees

      1,389        28,428        39,421        17,941   

Other Fees

      12,894        50,480        3,675        31,555   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      472,105        174,417        419,763        436,696   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (17,391 )      (157,164 )      (246,563 )      (94,494 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      454,714        17,253        173,200        342,202   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income (Loss)

      (418,433 )      28,941        135,116        268,555   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

         

Net Realized Gain (Loss) from:

         

Investment Transactions and Foreign Currency Transactions

      2,936,733        (405,694 )      (197,517 )      2,971,796   

Net Change in Unrealized Depreciation on:

         

Investments

      (4,840,884 )      (22,799 )      (1,484,391 )      (3,563,428 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Loss on Investments

      (1,904,151 )      (428,493 )      (1,681,908 )      (591,632 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $(2,322,584 )      $(399,552 )      $(1,546,792 )      $(323,077 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

* Period from December 1, 2015 to March 31, 2016. The Fund had a fiscal year end change from November 30 to March 31.

 

** Year ended November 30, 2015.

 

See Notes to Financial Statements.

 

46

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year or Period Ended March 31, 2016

 

     Large Cap
Growth Stock
Fund		     Large Cap
Value Equity
Fund		     Mid-Cap
Value Equity
Fund		     Small Cap
Growth Stock
Fund		  

Investment Income:

         

Dividend Income

      $2,220,888        $52,337,290        $88,768,255        $398,571   

Net Income from Securities Lending

      7,022        —        100,574        134,072   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

     2,227,910        52,337,290        88,868,829        532,643   
  

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

         

Investment Advisory Fees

      1,911,815        14,465,035        26,903,880        796,245   

Administration Fees

      27,498        222,768        393,073        9,462   

Fund Accounting Fees

      29,259        237,380        419,981        9,631   

Transfer Agency Fees

      284,640        202,131        1,485,155        27,936   

Compliance & Fund Services Fees

      21,666        176,948        309,220        7,290   

Distribution and Service Fees — A Shares

      192,678        1,210,266        1,450,719        24,387   

Distribution and Service Fees — C Shares

      440,942        199,395        772,054        55,337   

Shareholder Servicing Fees — I Shares

      419,331        6,408,922        10,805,249        290,138   

Shareholder Servicing Fees — A Shares

      14,979        1,429,282        1,790,853        4,414   

Custodian Fees

      10,106        38,613        62,765        10,336   

Printing Fees

      19,965        68,742        268,809        4,982   

Registration Fees

      57,168        66,434        105,417        53,478   

Trustee Fees

      11,522        94,648        167,079        4,123   

Professional Fees

      24,974        97,106        164,358        3,270   

Other Fees

      23,779        133,218        227,505        14,547   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      3,490,322        25,050,888        45,326,117        1,315,576   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (331,753 )      (2,457,755 )      (239,140 )      (63,957 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      3,158,569        22,593,133        45,086,977        1,251,619   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income (Loss)

      (930,659 )      29,744,157        43,781,852        (718,976 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

         

Net Realized Gain from:

         

Investment Transactions

     12,550,924        61,008,493        58,903,761        23,215,285   

Net Change in Unrealized Depreciation on:

         

Investments

     (16,825,838 )      (146,176,551 )      (309,127,228 )      (34,291,359 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Loss on Investments

     (4,274,914 )      (85,168,058 )      (250,223,467 )      (11,076,074 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $(5,205,573 )      $(55,423,901 )      $(206,441,615 )      $(11,795,050 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

47

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year or Period Ended March 31, 2016

 

     Small Cap
Value Equity
Fund		     Aggressive
Growth Allocation
Strategy		     Conservative
Allocation
Strategy		     Growth
Allocation
Strategy		  

Investment Income:

         

Dividend Income

      $23,226,805        $42,133        $338,366        $289,414   

Dividend Income from Affiliated Investment Companies

      —        66,996        947,491        526,906   

Less: Foreign Taxes Withheld

      (115,340 )      —        —        —   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      23,111,465        109,129        1,285,857        816,320   
  

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

         

Investment Advisory Fees

      8,848,043        8,749        65,950        58,074   

Administration Fees

      108,274        881        6,636        5,849   

Fund Accounting Fees

      108,691        20,041        20,041        20,041   

Transfer Agency Fees

      161,285        9,794        32,333        16,185   

Compliance & Fund Services Fees

      85,690        673        5,275        4,571   

Distribution and Service Fees — A Shares

      415,433        12,223        44,927        23,641   

Distribution and Service Fees — C Shares

      302,685        6,799        188,510        28,988   

Shareholder Servicing Fees — I Shares

      2,806,727        14,412        37,228        182,902   

Shareholder Servicing Fees — A Shares

      479,239        1,921        7,060        4,280   

Custodian Fees

      29,279        14,830        16,886        15,440   

Printing Fees

      139,507        1,125        6,369        2,402   

Registration Fees

      50,104        41,198        42,626        43,534   

Trustee Fees

      46,846        370        2,820        2,511   

Professional Fees

      47,007        361        2,975        2,364   

Other Fees

      81,121        7,529        9,966        9,713   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      13,709,931        140,906        489,602        420,495   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      —        (83,420 )      (57,158 )      (92,983 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      13,709,931        57,486        432,444        327,512   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      9,401,534        51,643        853,413        488,808   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

         

Net Realized Gain (Loss) from:

         

Investment Transactions

      160,397,157        246,155        (1,841,808 )      (808,051 ) 

Capital Gain Received from Investments in Affiliated Investment Companies

      —        573,905        1,911,790        3,366,199   

Net Change in Unrealized Depreciation on:

         

Investments

      (185,414,369 )      (1,306,041 )      (2,319,723 )      (5,495,254 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Loss on Investments

      (25,017,212 )      (485,981 )      (2,249,741 )      (2,937,106 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $(15,615,678 )      $(434,338 )      $(1,396,328 )      $(2,448,298 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

48

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year or Period Ended March 31, 2016

 

     Moderate
Allocation
Strategy		  

Investment Income:

   

Dividend Income

      $515,987   

Dividend Income from Affiliated Investment Companies

      1,035,254   
  

 

 

  

Total Investment Income

      1,551,241   
  

 

 

  

Expenses:

   

Investment Advisory Fees

      95,865   

Administration Fees

      9,666   

Fund Accounting Fees

      20,041   

Transfer Agency Fees

      30,476   

Compliance & Fund Services Fees

      7,570   

Distribution and Service Fees — A Shares

      39,071   

Distribution and Service Fees — C Shares

      124,378   

Shareholder Servicing Fees — I Shares

      221,556   

Shareholder Servicing Fees — A Shares

      14,803   

Custodian Fees

      18,533   

Printing Fees

      4,187   

Registration Fees

      40,960   

Trustee Fees

      4,256   

Professional Fees

      3,684   

Other Fees

      11,845   
  

 

 

  

Total Expenses

      646,891   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (48,623 ) 
  

 

 

  

Net Expenses

      598,268   
  

 

 

  

Net Investment Income

      952,973   
  

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

   

Net Realized Gain from:

   

Investment Transactions

      3,096,497   

Capital Gain Received from Investments in Affiliated Investment Companies

      3,284,842   

Net Change in Unrealized Depreciation on:

   

Investments

      (10,430,565 ) 
  

 

 

  

Net Realized and Unrealized Loss on Investments

      (4,049,226 ) 
  

 

 

  

Change in Net Assets from Operations

      $(3,096,253 ) 
  

 

 

  

 

See Notes to Financial Statements.

 

49

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years or Period Indicated

 

    Aggressive Growth
Stock Fund		     Capital Innovations Global
Resources and Infrastructure Fund		  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     12/01/15-
03/31/16*		     12/01/14-
11/30/15		     12/01/13-
11/30/14		  

Operations:

          

Net Investment Income (Loss)

   $ (418,433 )    $ (589,682 )    $ 28,941      $ 135,116      $ 146,968   

Net Realized Gain (Loss)

     2,936,733        3,104,323        (405,694 )      (197,517 )      (496,628 ) 

Net Change in Unrealized Appreciation (Depreciation)

     (4,840,884 )      (1,753,720 )      (22,799 )      (1,484,391 )      844,308   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     (2,322,584 )      760,921        (399,552 )      (1,546,792 )      494,648   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

          

Net Investment Income:

          

I Shares

     —        —        (47,940 )      (100,601 )      (27,499 ) 

A Shares

     —        —        (29,983 )      (32,013 )      (12,244 ) 

C Shares

     —        —        (4,305 )      (3,437 )      (506 ) 

Tax Return of Capital:

          

I Shares

     —        —        —        —        (32,182 ) 

A Shares

     —        —        —        —        (15,062 ) 

C Shares

     —        —        —        —        (733 ) 

Net Realized Gains:

          

I Shares

     (1,394,244 )      (848,209 )      —        —        (24,267 ) 

A Shares

     (701,510 )      (446,147 )      —        —        (25,198 ) 

C Shares

     —        —        —        —        (3,529 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (2,095,754 )      (1,294,356 )      (82,228 )      (136,051 )      (141,220 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (4,108,103 )      (24,055,093 )      (1,509,530 )      (9,219,400 )      4,124,853   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (8,526,441 )      (24,588,528 )      (1,991,310 )      (10,902,243 )      4,478,281   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

          

Beginning of Period

     34,856,631        59,445,159        5,399,938        16,302,181        11,823,900   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

   $ 26,330,190      $ 34,856,631      $ 3,408,628      $ 5,399,938      $ 16,302,181   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Period

   $ (79,099 )    $ (129,949 )    $ 18,707      $ (111,545 )    $ (72,441 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* The Fund had a fiscal year end change from November 30 to March 31.

 

See Notes to Financial Statements.

 

50

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years or Period Indicated

 

    International Equity Fund     Large Cap Growth Stock Fund     Large Cap Value Equity Fund  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income (Loss)

   $ 268,555      $ 544,062      $ (930,659 )    $ (486,719 )    $ 29,744,157      $ 29,935,953   

Net Realized Gain

     2,971,796        2,381,923        12,550,924        29,833,223        61,008,493        160,664,758   

Net Change in Unrealized Appreciation (Depreciation)

     (3,563,428 )      (4,309,109 )      (16,825,838 )      9,728,182        (146,176,551 )      (30,015,618 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     (323,077 )      (1,383,124 )      (5,205,573 )      39,074,686        (55,423,901 )      160,585,093   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (121,394 )      (384,870 )      —        —        (24,293,067 )      (24,539,040 ) 

A Shares

     (23,586 )      (82,910 )      —        —        (4,596,165 )      (4,101,116 ) 

C Shares

     —        —        —        —        (151,415 )      (119,169 ) 

IS Shares

     —        —        —        —        (1,930,728 )      (449,243 ) 

Net Realized Gains:

            

I Shares

     (879,695 )      (1,839,409 )      (9,096,956 )      (9,151,015 )      (130,478,463 )      (149,057,379 ) 

A Shares

     (354,394 )      (429,694 )      (5,723,860 )      (5,499,119 )      (31,413,333 )      (32,303,093 ) 

C Shares

     —        —        (5,426,509 )      (3,786,190 )      (1,618,805 )      (1,679,941 ) 

IS Shares*

     (765,921 )      —        (3,074,932 )      (3,925,659 )      (8,723,251 )      (3,099,374 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (2,144,990 )      (2,736,883 )      (23,322,257 )      (22,361,983 )      (203,205,227 )      (215,348,355 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     17,666,205        (4,468,167 )      (14,457,456 )      (10,709,008 )      (93,522,505 )      303,056,171   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     15,198,138        (8,588,174 )      (42,985,286 )      6,003,695        (352,151,633 )      248,292,909   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Year

     23,145,457        31,733,631        292,834,791        286,831,096        2,447,457,611        2,199,164,702   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 38,343,595      $ 23,145,457      $ 249,849,505      $ 292,834,791      $ 2,095,305,978      $ 2,447,457,611   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ 225,036      $ 226,301      $ (192,950 )    $ (5,858 )    $ 5,948,067      $ 7,175,285   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 1, 2014 (September 1, 2015 for International Equity Fund).

 

See Notes to Financial Statements.

 

51

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years or Period Indicated

 

    Mid-Cap Value Equity Fund     Small Cap Growth Stock Fund     Small Cap Value Equity Fund  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income (Loss)

   $ 43,781,852      $ 35,676,749      $ (718,976 )    $ (1,490,321 )    $ 9,401,534      $ 17,100,890   

Net Realized Gain

     58,903,761        271,198,162        23,215,285        12,370,880        160,397,157        90,229,132   

Net Change in Unrealized Depreciation

     (309,127,228 )      (8,092,608 )      (34,291,359 )      (6,929,715 )      (185,414,369 )      (61,974,776 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     (206,441,615 )      298,782,303        (11,795,050 )      3,950,844        (15,615,678 )      45,355,246   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (35,723,021 )      (28,937,883 )      —        —        (11,307,431 )      (11,480,111 ) 

A Shares

     (3,557,031 )      (3,327,424 )      —        —        (1,360,683 )      (916,870 ) 

C Shares

     (401,359 )      (182,658 )      —        —        (231,971 )      (96,253 ) 

IS Shares

     (2,319,371 )      (145,326 )      —        —        —        —   

Net Realized Gains:

            

I Shares

     (161,562,467 )      (302,444,965 )      (14,333,125 )      (19,925,036 )      (207,814,500 )      (208,085,068 ) 

A Shares

     (23,673,405 )      (53,249,128 )      (2,962,694 )      (1,656,015 )      (33,547,089 )      (26,472,803 ) 

C Shares

     (4,181,619 )      (7,435,108 )      (2,793,870 )      (1,401,026 )      (8,088,193 )      (5,818,147 ) 

IS Shares*

     (7,897,241 )      (1,428,255 )      (1,477,592 )      (945,692 )      —        —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (239,315,514 )      (397,150,747 )      (21,567,281 )      (23,927,769 )      (262,349,867 )      (252,869,252 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (435,212,555 )      498,071,026        (64,115,362 )      (19,823,631 )      (67,849,231 )      (239,450,919 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (880,969,684 )      399,702,582        (97,477,693 )      (39,800,556 )      (345,814,776 )      (446,964,925 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Year

     4,253,129,233        3,853,426,651        148,743,781        188,544,337        1,314,714,928        1,761,679,853   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 3,372,159,549      $ 4,253,129,233      $ 51,266,088      $ 148,743,781      $ 968,900,152      $ 1,314,714,928   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ 10,555,383      $ 9,380,404      $ (82,836 )    $ (349,877 )    $ 1,382,858      $ 6,099,362   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 1, 2014.

 

See Notes to Financial Statements.

 

52

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years or Period Indicated

 

    Aggressive Growth Allocation
Strategy		     Conservative Allocation
Strategy		     Growth Allocation Strategy  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income

   $ 51,643      $ 68,764      $ 853,413      $ 903,432      $ 488,808      $ 471,673   

Net Realized Gain

     820,060        2,781,951        69,982        2,181,193        2,558,148        5,182,845   

Net Change in Unrealized Appreciation (Depreciation)

     (1,306,041 )      (1,638,362 )      (2,319,723 )      508,047        (5,495,254 )      (920,555 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     (434,338 )      1,212,353        (1,396,328 )      3,592,672        (2,448,298 )      4,733,963   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (34,085 )      (161,145 )      (572,569 )      (762,134 )      (479,108 )      (1,049,547 ) 

A Shares

     (24,643 )      (86,990 )      (204,021 )      (339,565 )      (67,349 )      (165,023 ) 

C Shares

     (966 )      (10,001 )      (157,737 )      (266,817 )      (11,099 )      (42,123 ) 

Net Realized Gains:

            

I Shares

     (771,787 )      (1,301,686 )      (799,647 )      (674,179 )      (3,232,886 )      (2,308,978 ) 

A Shares

     (772,140 )      (763,286 )      (349,352 )      (341,200 )      (545,095 )      (399,136 ) 

C Shares

     (149,331 )      (116,340 )      (480,071 )      (388,227 )      (202,838 )      (138,486 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (1,752,952 )      (2,439,448 )      (2,563,397 )      (2,772,122 )      (4,538,375 )      (4,103,293 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (1,157,894 )      (7,913,651 )      1,826,875        4,702,957        (10,236,774 )      (986,685 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (3,345,184 )      (9,140,746 )      (2,132,850 )      5,523,507        (17,223,447 )      (356,015 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Year

     10,428,837        19,569,583        66,798,504        61,274,997        65,285,266        65,641,281   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 7,083,653      $ 10,428,837      $ 64,665,654      $ 66,798,504      $ 48,061,819      $ 65,285,266   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ —      $ (4,198 )    $ 125,029      $ 167,083      $ 14,594      $ 25,955   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

53

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (concluded)

 

RIDGEWORTH FUNDS    For the Fiscal Years or Period Indicated

 

    Moderate Allocation Strategy  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

    

Net Investment Income

   $ 952,973      $ 1,428,147   

Net Realized Gain

     6,381,339        9,725,324   

Net Change in Unrealized Depreciation

     (10,430,565 )      (2,565,429 ) 
 

 

 

    

 

 

  

Change in Net Assets from Operations

     (3,096,253 )      8,588,042   
 

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

    

Net Investment Income:

    

I Shares

     (805,343 )      (2,171,028 ) 

A Shares

     (206,746 )      (373,163 ) 

C Shares

     (124,573 )      (212,350 ) 

Net Realized Gains:

    

I Shares

     (6,865,380 )      (4,896,911 ) 

A Shares

     (1,841,985 )      (894,369 ) 

C Shares

     (1,721,546 )      (701,661 ) 
 

 

 

    

 

 

  

Total Dividends and Distributions

     (11,565,573 )      (9,249,482 ) 
 

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (41,933,238 )      (17,731,499 ) 
 

 

 

    

 

 

  

Change in Net Assets

     (56,595,064 )      (18,392,939 ) 
 

 

 

    

 

 

  

Net Assets:

    

Beginning of Year

     125,826,018        144,218,957   
 

 

 

    

 

 

  

End of Year

   $ 69,230,954      $ 125,826,018   
 

 

 

    

 

 

  

Accumulated Net Investment Income, End of Year

   $ 62,876      $ 186,987   
 

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

54

Table of Contents

FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Aggressive Growth Stock Fund

                              

I Shares

                              

Year Ended March 31, 2016

     $21.49        $(0.26 )      $(0.59 )      $(0.85 )      $—        $—        $(1.53 )      $(1.53 )      $19.11        $18,203        (4.74 )%      1.31 %      1.39 %      (1.20 )%      59 % 

Year Ended March 31, 2015

     21.20        (0.26 )      1.21        0.95        —        —        (0.66 )      (0.66 )      21.49        24,321        4.61        1.31        1.34        (1.20 )      42   

Year Ended March 31, 2014

     15.60        (0.22 )      7.01        6.79        —        —        (1.19 )      (1.19 )      21.20        39,495        43.70        1.29        1.37        (1.08 )      49   

Year Ended March 31, 2013

     15.94        (0.14 )      0.42        0.28        —        —        (0.62 )      (0.62 )      15.60        15,840        1.84        1.20        1.21        (0.98 )      24   

Year Ended March 31, 2012

     16.45        (0.15 )      (0.36 )      (0.51 )      —        —        —        —        15.94        88,132        (3.16 )      1.22        1.22        (0.98 )      30   

A Shares

                              

Year Ended March 31, 2016

     20.76        (0.29 )      (0.57 )      (0.86 )      —        —        (1.53 )      (1.53 )      18.37        8,127        (4.96 )      1.49        1.49        (1.38 )      59   

Year Ended March 31, 2015

     20.53        (0.28 )      1.17        0.89        —        —        (0.66 )      (0.66 )      20.76        10,535        4.47        1.45        1.45        (1.34 )      42   

Year Ended March 31, 2014

     15.16        (0.24 )      6.80        6.56        —        —        (1.19 )      (1.19 )      20.53        19,950        43.45        1.40        1.40        (1.18 )      49   

Year Ended March 31, 2013

     15.54        (0.18 )      0.42        0.24        —        —        (0.62 )      (0.62 )      15.16        3,580        1.63        1.49        1.53        (1.24 )      24   

Year Ended March 31, 2012

     16.10        (0.18 )      (0.38 )      (0.56 )      —        —        —        —        15.54        3,803        (3.48 )      1.53        1.53        (1.28 )      30   

Capital Innovations Global Resources and Infrastructure Fund

  

                  

I Shares

                              

Period Ended March 31, 2016(e)

     9.91        0.07        (0.76 )      (0.69 )      (0.18 )      —        —        (0.18 )      9.04        1,955        (6.93 )      1.28        14.19        2.52        23   

Year Ended November 30, 2015

     11.84        0.14        (1.90 )      (1.76 )      (0.17 )      —        —        (0.17 )      9.91        3,336        (14.92 )      1.35        3.42        1.23        19   

Year Ended November 30, 2014

     11.50        0.13        0.34        0.47        (0.04 )      (0.04 )      (0.05 )      (0.13 )      11.84        12,532        4.12        1.35        3.29        1.13        24   

Year Ended November 30, 2013

     10.03        0.09        1.43        1.52        (0.05 )      —        —        (0.05 )      11.50        5,436        15.15        1.35        6.57        0.85        7   

Period Ended November 30, 2012(f)

     10.00        0.01        0.02        0.03        —        —        —        —        10.03        256        0.30        1.35        122.10        0.55        3   

A Shares

                              

Period Ended March 31, 2016(e)

     9.90        0.07        (0.76 )      (0.69 )      (0.18 )      —        —        (0.18 )      9.03        1,250        (7.01 )      1.53        14.70        2.34        23   

Year Ended November 30, 2015

     11.83        0.11        (1.90 )      (1.79 )      (0.14 )      —        —        (0.14 )      9.90        1,756        (15.14 )      1.60        3.67        0.98        19   

Year Ended November 30, 2014

     11.49        0.10        0.34        0.44        (0.02 )      (0.03 )      (0.05 )      (0.10 )      11.83        3,033        3.84        1.60        3.54        0.88        24   

Year Ended November 30, 2013

     10.02        0.07        1.43        1.50        (0.03 )      —        —        (0.03 )      11.49        5,569        14.98        1.60        6.82        0.60        7   

Period Ended November 30, 2012(f)

     10.00        0.01        0.01        0.02        —        —        —        —        10.02        14        0.20        1.60        122.35        0.30        3   

C Shares

                              

Period Ended March 31, 2016(e)

     9.76        0.04        (0.75 )      (0.71 )      (0.15 )      —        —        (0.15 )      8.90        204        (7.24 )      2.28        15.42        1.50        23   

Year Ended November 30, 2015

     11.69        0.03        (1.87 )      (1.84 )      (0.09 )      —        —        (0.09 )      9.76        308        (15.76 )      2.35        4.42        0.23        19   

Year Ended November 30, 2014

     11.41        0.02        0.33        0.35        (0.01 )      (0.01 )      (0.05 )      (0.07 )      11.69        737        3.04        2.35        4.29        0.13        24   

Year Ended November 30, 2013

     10.01        (0.02 )      1.42        1.40        — (g)      —        —        —        11.41        819        14.03        2.35        7.57        (0.15 )      7   

Period Ended November 30, 2012(f)

     10.00        (0.01 )      0.02        0.01        —        —        —        —        10.01        7        0.10        2.35        123.10        (0.45 )      3   

International Equity Fund

                              

I Shares

                              

Year Ended March 31, 2016

     10.45        0.13        (0.29 )      (0.16 )      (0.07 )      —        (0.92 )      (0.99 )      9.30        28,756        (1.59 )      1.30        1.67        1.28        114   

Year Ended March 31, 2015

     12.45        0.25        (0.90 )      (0.65 )      (0.23 )      —        (1.12 )      (1.35 )      10.45        19,023        (4.59 )      1.37        1.48        2.15        41   

Year Ended March 31, 2014

     11.64        0.55        1.65        2.20        (1.17 )      —        (0.22 )      (1.39 )      12.45        26,932        19.52        1.20        1.20        4.55 (h)      43   

Year Ended March 31, 2013

     10.74        0.22        0.89        1.11        (0.21 )      —        —        (0.21 )      11.64        272,552        10.38        1.12        1.12        2.02        52   

Year Ended March 31, 2012

     11.62        0.25        (0.90 )      (0.65 )      (0.23 )      —        —        (0.23 )      10.74        261,561        (5.24 )      1.29        1.29        2.33        78   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

55

Table of Contents

FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

A Shares

                              

Year Ended March 31, 2016

     $10.34        $0.09        $(0.27 )      $(0.18 )      $(0.06 )      $—        $(0.92 )      $(0.98 )      $9.18        $3,756        (1.77 )%      1.51 %      1.77 %      0.89 %      114 % 

Year Ended March 31, 2015

     12.35        0.20        (0.87 )      (0.67 )      (0.22 )      —        (1.12 )      (1.34 )      10.34        4,123        (4.87 )      1.57        1.66        1.79        41   

Year Ended March 31, 2014

     11.51        0.20        2.00        2.20        (1.14 )      —        (0.22 )      (1.36 )      12.35        4,802        19.72        1.47        1.47        1.66        43   

Year Ended March 31, 2013

     10.63        0.18        0.87        1.05        (0.17 )      —        —        (0.17 )      11.51        4,565        9.95        1.45        1.45        1.73        52   

Year Ended March 31, 2012

     11.49        0.21        (0.87 )      (0.66 )      (0.20 )      —        —        (0.20 )      10.63        5,500        (5.48 )      1.59        1.59        2.02        78   

IS Shares(i)

                              

Period Ended March 31, 2016

     9.85        — (g)      0.38        0.38        —        —        (0.92 )      (0.92 )      9.31        5,832        3.81        1.14        1.54        0.09        114   

Large Cap Growth Stock Fund

                              

I Shares

                              

Year Ended March 31, 2016

     10.32        (0.02 )      (0.12 )      (0.14 )      —        —        (0.80 )      (0.80 )      9.38        110,562        (1.79 )      0.97        1.24        (0.15 )      10   

Year Ended March 31, 2015

     9.70        —        1.40        1.40        —        —        (0.78 )      (0.78 )      10.32        127,236        15.03        0.94        1.17        (0.04 )      13   

Year Ended March 31, 2014

     8.31        0.01        2.24        2.25        —        —        (0.86 )      (0.86 )      9.70        188,294        27.35        0.92        1.09        0.07        21   

Year Ended March 31, 2013

     12.95        0.03        0.24        0.27        (0.01 )      —        (4.90 )      (4.91 )      8.31        167,887        3.64        0.94        0.94        0.23        40   

Year Ended March 31, 2012

     11.55        (0.02 )      1.42        1.40        —        —        —        —        12.95        261,090        12.12        1.07        1.07        (0.17 )      19   

A Shares

                              

Year Ended March 31, 2016

     8.75        (0.03 )      (0.11 )      (0.14 )      —        —        (0.80 )      (0.80 )      7.81        62,115        (2.13 )      1.20        1.21        (0.39 )      10   

Year Ended March 31, 2015

     8.35        (0.02 )      1.20        1.18        —        —        (0.78 )      (0.78 )      8.75        65,953        14.83        1.18        1.19        (0.26 )      13   

Year Ended March 31, 2014

     7.27        (0.02 )      1.96        1.94        —        —        (0.86 )      (0.86 )      8.35        64,288        26.99        1.19        1.20        (0.20 )      21   

Year Ended March 31, 2013

     11.96        — (g)      0.21        0.21        —        —        (4.90 )      (4.90 )      7.27        56,511        3.43        1.20        1.20        (0.01 )      40   

Year Ended March 31, 2012

     10.70        (0.05 )      1.31        1.26        —        —        —        —        11.96        45,854        11.78        1.37        1.37        (0.45 )      19   

C Shares

                              

Year Ended March 31, 2016

     6.38        (0.06 )      (0.07 )      (0.13 )      —        —        (0.80 )      (0.80 )      5.45        40,086        (2.77 )      1.88        1.89        (1.06 )      10   

Year Ended March 31, 2015

     6.32        (0.06 )      0.90        0.84        —        —        (0.78 )      (0.78 )      6.38        46,678        14.20        1.86        1.87        (0.90 )      13   

Year Ended March 31, 2014

     5.71        (0.06 )      1.53        1.47        —        —        (0.86 )      (0.86 )      6.32        34,249        26.09        1.88        1.88        (0.90 )      21   

Year Ended March 31, 2013

     10.52        (0.06 )      0.15        0.09        —        —        (4.90 )      (4.90 )      5.71        31,625        2.69        1.89        1.89        (0.70 )      40   

Year Ended March 31, 2012

     9.48        (0.11 )      1.15        1.04        —        —        —        —        10.52        17,363        10.97        2.07        2.07        (1.15 )      19   

IS Shares

                              

Year Ended March 31, 2016

     10.33        (0.01 )      (0.13 )      (0.14 )      —        —        (0.80 )      (0.80 )      9.39        37,087        (1.80 )      0.88        0.89        (0.06 )      10   

Period Ended March 31, 2015(j)

     9.97        0.01        1.13        1.14        —        —        (0.78 )      (0.78 )      10.33        52,967        12.02        0.85        0.87        0.16        13   

Large Cap Value Equity Fund

                              

I Shares

                              

Year Ended March 31, 2016

     16.60        0.22        (0.57 )      (0.35 )      (0.24 )      —        (1.30 )      (1.54 )      14.71        1,440,587        (2.19 )      0.97        1.09        1.40        66   

Year Ended March 31, 2015

     17.02        0.23        0.99        1.22        (0.23 )      —        (1.41 )      (1.64 )      16.60        1,927,039        7.25        0.95        1.07        1.33        73   

Year Ended March 31, 2014

     15.76        0.24        3.29        3.53        (0.23 )      —        (2.04 )      (2.27 )      17.02        1,799,158        22.94        0.91        1.06        1.42        81   

Year Ended March 31, 2013

     13.77        0.24        1.97        2.21        (0.22 )      —        —        (0.22 )      15.76        1,442,154        16.24        0.89        0.89        1.74        78   

Year Ended March 31, 2012

     13.47        0.22        0.28        0.50        (0.20 )      —        —        (0.20 )      13.77        1,985,434        3.92        0.82        0.82        1.74        110   

A Shares

                              

Year Ended March 31, 2016

     16.48        0.17        (0.56 )      (0.39 )      (0.19 )      —        (1.30 )      (1.49 )      14.60        362,805        (2.46 )      1.27        1.37        1.09        66   

Year Ended March 31, 2015

     16.90        0.18        0.99        1.17        (0.18 )      —        (1.41 )      (1.59 )      16.48        461,642        6.98        1.25        1.36        1.03        73   

Year Ended March 31, 2014

     15.67        0.19        3.27        3.46        (0.19 )      —        (2.04 )      (2.23 )      16.90        379,768        22.60        1.19        1.37        1.13        81   

Year Ended March 31, 2013

     13.70        0.21        1.95        2.16        (0.19 )      —        —        (0.19 )      15.67        287,957        15.93        1.16        1.26        1.48        78   

Year Ended March 31, 2012

     13.41        0.19        0.27        0.46        (0.17 )      —        —        (0.17 )      13.70        233,782        3.58        1.12        1.12        1.50        110   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

56

Table of Contents

FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

C Shares

                              

Year Ended March 31, 2016

     $16.15        $0.10        $(0.55 )      $(0.45 )      $(0.12 )      $—        $(1.30 )      $(1.42 )      $14.28        $19,053        (2.88 )%      1.71 %      1.71 %      0.65 %      66 % 

Year Ended March 31, 2015

     16.59        0.10        0.97        1.07        (0.10 )      —        (1.41 )      (1.51 )      16.15        21,207        6.50        1.71        1.71        0.57        73   

Year Ended March 31, 2014

     15.42        0.10        3.22        3.32        (0.11 )      —        (2.04 )      (2.15 )      16.59        20,239        21.98        1.71        1.71        0.62        81   

Year Ended March 31, 2013

     13.50        0.12        1.92        2.04        (0.12 )      —        —        (0.12 )      15.42        16,394        15.25        1.75        1.75        0.89        78   

Year Ended March 31, 2012

     13.21        0.08        0.29        0.37        (0.08 )      —        —        (0.08 )      13.50        17,027        2.86        1.82        1.82        0.68        110   

IS Shares

                              

Year Ended March 31, 2016

     16.66        0.23        (0.53 )      (0.30 )      (0.29 )      —        (1.30 )      (1.59 )      14.77        272,861        (1.90 )      0.72        0.72        1.48        66   

Period Ended March 31, 2015(j)

     17.54        0.19        0.54        0.73        (0.20 )      —        (1.41 )      (1.61 )      16.66        37,570        4.26        0.71        0.71        1.65        73   

Mid-Cap Value Equity Fund

                              

I Shares

                              

Year Ended March 31, 2016

     13.74        0.15        (0.71 )      (0.56 )      (0.15 )      —        (0.69 )      (0.84 )      12.34        2,717,761        (3.85 )      1.12        1.12        1.16        98   

Year Ended March 31, 2015

     14.09        0.13        0.93        1.06        (0.12 )      —        (1.29 )      (1.41 )      13.74        3,552,288        7.76        1.10        1.10        0.92        94   

Year Ended March 31, 2014

     13.06        0.14        2.64        2.78        (0.12 )      —        (1.63 )      (1.75 )      14.09        3,159,585        22.03        1.09        1.10        1.02        108   

Year Ended March 31, 2013

     11.07        0.16        2.00        2.16        (0.14 )      —        (0.03 )      (0.17 )      13.06        2,168,210        19.73        1.08        1.08        1.44        123   

Year Ended March 31, 2012

     12.70        0.17        (0.66 )      (0.49 )      (0.17 )      —        (0.97 )      (1.14 )      11.07        1,679,244        (2.33 )      1.04        1.04        1.56        182   

A Shares

                              

Year Ended March 31, 2016

     13.60        0.11        (0.70 )      (0.59 )      (0.10 )      —        (0.69 )      (0.79 )      12.22        397,599        (4.11 )      1.40        1.45        0.86        98   

Year Ended March 31, 2015

     13.96        0.09        0.92        1.01        (0.08 )      —        (1.29 )      (1.37 )      13.60        590,327        7.45        1.38        1.41        0.64        94   

Year Ended March 31, 2014

     12.96        0.10        2.62        2.72        (0.09 )      —        (1.63 )      (1.72 )      13.96        611,880        21.68        1.35        1.40        0.76        108   

Year Ended March 31, 2013

     10.99        0.13        1.98        2.11        (0.11 )      —        (0.03 )      (0.14 )      12.96        490,381        19.43        1.34        1.38        1.17        123   

Year Ended March 31, 2012

     12.62        0.15        (0.67 )      (0.52 )      (0.14 )      —        (0.97 )      (1.11 )      10.99        433,674        (2.63 )      1.34        1.34        1.40        182   

C Shares

                              

Year Ended March 31, 2016

     13.34        0.06        (0.68 )      (0.62 )      (0.07 )      —        (0.69 )      (0.76 )      11.96        64,160        (4.49 )      1.78        1.78        0.50        98   

Year Ended March 31, 2015

     13.72        0.04        0.90        0.94        (0.03 )      —        (1.29 )      (1.32 )      13.34        87,115        7.06        1.75        1.75        0.28        94   

Year Ended March 31, 2014

     12.77        0.05        2.58        2.63        (0.05 )      —        (1.63 )      (1.68 )      13.72        81,961        21.26        1.76        1.76        0.36        108   

Year Ended March 31, 2013

     10.85        0.07        1.95        2.02        (0.07 )      —        (0.03 )      (0.10 )      12.77        53,893        18.75        1.86        1.86        0.65        123   

Year Ended March 31, 2012

     12.48        0.07        (0.66 )      (0.59 )      (0.07 )      —        (0.97 )      (1.04 )      10.85        42,272        (3.32 )      2.04        2.04        0.65        182   

IS Shares

                              

Year Ended March 31, 2016

     13.76        0.21        (0.72 )      (0.51 )      (0.20 )      —        (0.69 )      (0.89 )      12.36        192,640        (3.45 )      0.80        0.80        1.68        98   

Period Ended March 31, 2015(j)

     14.28        0.13        0.77        0.90        (0.13 )      —        (1.29 )      (1.42 )      13.76        23,398        6.54        0.75        0.75        1.39        94   

Small Cap Growth Stock Fund

                              

I Shares

                              

Year Ended March 31, 2016

     14.83        (0.10 )      (1.54 )      (1.64 )      —        —        (4.67 )      (4.67 )      8.52        36,436        (13.36 )(k)      1.30        1.39        (0.74 )      73   

Year Ended March 31, 2015

     16.82        (0.14 )      0.65        0.51        —        —        (2.50 )      (2.50 )      14.83        126,223        4.31 (k)      1.28        1.34        (0.92 )      31   

Year Ended March 31, 2014

     15.66        (0.16 )      4.23        4.07        —        —        (2.91 )      (2.91 )      16.82        170,409        25.98        1.26        1.31        (0.91 )      90   

Year Ended March 31, 2013

     17.21        (0.08 )      2.19        2.11        —        —        (3.66 )      (3.66 )      15.66        152,674        14.20        1.21        1.21        (0.50 )      50   

Year Ended March 31, 2012

     17.17        (0.10 )      0.14 (l)      0.04        —        —        —        —        17.21        267,694        0.23        1.23        1.23        (0.62 )      71   

A Shares

                              

Year Ended March 31, 2016

     13.23        (0.08 )      (1.35 )      (1.43 )      —        —        (4.67 )      (4.67 )      7.13        6,856        (13.38 )      1.37        1.37        (0.76 )      73   

Year Ended March 31, 2015

     15.30        (0.13 )      0.56        0.43        —        —        (2.50 )      (2.50 )      13.23        9,889        4.21        1.32        1.32        (0.96 )      31   

Year Ended March 31, 2014

     14.46        (0.15 )      3.90        3.75        —        —        (2.91 )      (2.91 )      15.30        10,880        25.92        1.29        1.29        (0.94 )      90   

Year Ended March 31, 2013

     16.18        (0.11 )      2.05        1.94        —        —        (3.66 )      (3.66 )      14.46        10,226        14.07        1.37        1.37        (0.69 )      50   

Year Ended March 31, 2012

     16.19        (0.14 )      0.13 (l)      (0.01 )      —        —        —        —        16.18        10,032        (0.06 )      1.54        1.54        (0.91 )      71   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

57

Table of Contents

FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

C Shares

                              

Year Ended March 31, 2016

     $9.53        $(0.10 )      $(0.88 )      $(0.98 )      $—        $—        $(4.67 )      $(4.67 )      $3.88        $4,686        (13.91 )%      2.02 %      2.02 %      (1.40 )%      73 % 

Year Ended March 31, 2015

     11.82        (0.17 )      0.38        0.21        —        —        (2.50 )      (2.50 )      9.53        6,397        3.55        1.96        1.96        (1.60 )      31   

Year Ended March 31, 2014

     11.77        (0.20 )      3.16        2.96        —        —        (2.91 )      (2.91 )      11.82        7,255        25.10        1.94        1.94        (1.59 )      90   

Year Ended March 31, 2013

     13.91        (0.18 )      1.70        1.52        —        —        (3.66 )      (3.66 )      11.77        6,757        13.30        2.05        2.05        (1.39 )      50   

Year Ended March 31, 2012

     14.01        (0.21 )      0.11 (l)      (0.10 )      —        —        —        —        13.91        8,129        (0.71 )      2.24        2.24        (1.61 )      71   

IS Shares

                              

Year Ended March 31, 2016

     14.85        (0.05 )      (1.56 )      (1.61 )      —        —        (4.67 )      (4.67 )      8.57        3,289        (13.13 )      1.02        1.02        (0.42 )      73   

Period Ended March 31, 2015(j)

     15.61        (0.06 )      1.80        1.74        —        —        (2.50 )      (2.50 )      14.85        6,235        12.53        0.96        0.96        (0.56 )      31   

Small Cap Value Equity Fund

                              

I Shares

                              

Year Ended March 31, 2016

     15.59        0.13        (0.50 )      (0.37 )      (0.20 )      —        (3.72 )      (3.92 )      11.30        820,124        (0.64 )      1.21        1.21        0.93        36   

Year Ended March 31, 2015

     17.95        0.20        0.38        0.58        (0.15 )      —        (2.79 )      (2.94 )      15.59        1,118,190        4.07        1.21        1.21        1.16        10   

Year Ended March 31, 2014

     15.45        0.17        3.11        3.28        (0.14 )      —        (0.64 )      (0.78 )      17.95        1,528,174        21.34        1.22        1.22        1.01        37   

Year Ended March 31, 2013

     13.80        0.20        2.08        2.28        (0.23 )      —        (0.40 )      (0.63 )      15.45        1,408,597        17.07        1.20        1.20        1.44        27   

Year Ended March 31, 2012

     14.54        0.12        (0.07 )(l)      0.05        (0.12 )      —        (0.67 )      (0.79 )      13.80        1,169,093        1.15        1.20        1.20        0.92        46   

A Shares

                              

Year Ended March 31, 2016

     15.25        0.08        (0.50 )      (0.42 )      (0.15 )      —        (3.72 )      (3.87 )      10.96        121,367        (1.07 )(k)      1.55        1.55        0.62        36   

Year Ended March 31, 2015

     17.61        0.15        0.38        0.53        (0.10 )      —        (2.79 )      (2.89 )      15.25        162,732        3.79        1.52        1.52        0.89        10   

Year Ended March 31, 2014

     15.19        0.12        3.05        3.17        (0.11 )      —        (0.64 )      (0.75 )      17.61        195,098        20.96        1.50        1.50        0.73        37   

Year Ended March 31, 2013

     13.58        0.15        2.05        2.20        (0.19 )      —        (0.40 )      (0.59 )      15.19        181,308        16.77        1.50        1.50        1.14        27   

Year Ended March 31, 2012

     14.33        0.08        (0.08 )(l)      —        (0.08 )      —        (0.67 )      (0.75 )      13.58        169,100        0.81        1.50        1.50        0.63        46   

C Shares

                              

Year Ended March 31, 2016

     14.31        0.03        (0.47 )      (0.44 )      (0.11 )      —        (3.72 )      (3.83 )      10.04        27,410        (1.34 )      1.90        1.90        0.28        36   

Year Ended March 31, 2015

     16.71        0.08        0.36        0.44        (0.05 )      —        (2.79 )      (2.84 )      14.31        33,793        3.42        1.88        1.88        0.54        10   

Year Ended March 31, 2014

     14.47        0.06        2.90        2.96        (0.08 )      —        (0.64 )      (0.72 )      16.71        38,408        20.53        1.87        1.87        0.36        37   

Year Ended March 31, 2013

     12.98        0.08        1.95        2.03        (0.14 )      —        (0.40 )      (0.54 )      14.47        36,015        16.17        1.99        1.99        0.65        27   

Year Ended March 31, 2012

     13.76        (0.01 )      (0.08 )(l)      (0.09 )      (0.02 )      —        (0.67 )      (0.69 )      12.98        38,107        0.12        2.20        2.20        (0.08 )      46   

Aggressive Growth Allocation Strategy(m)

  

                          

I Shares

                              

Year Ended March 31, 2016

     7.97        0.06        (0.41 )      (0.35 )      (0.07 )      —        (1.55 )      (1.62 )      6.00        2,582        (4.67 )      0.50        1.55        0.77        43   

Year Ended March 31, 2015

     8.98        0.04        0.62        0.66        (0.18 )      —        (1.49 )      (1.67 )      7.97        4,920        7.79        0.50        1.12        0.46        36   

Year Ended March 31, 2014

     8.95        0.09        1.50        1.59        (0.29 )      —        (1.27 )      (1.56 )      8.98        14,143        18.41        0.50        0.94        0.99        12   

Year Ended March 31, 2013

     8.50        0.06        0.48        0.54        (0.09 )      —        —        (0.09 )      8.95        18,577        6.45        0.40        0.81        0.77        35   

Year Ended March 31, 2012

     8.57        0.08        (0.02 )      0.06        (0.13 )      —        —        (0.13 )      8.50        18,993        0.89        0.20        0.45        0.98        55   

A Shares

                              

Year Ended March 31, 2016

     7.87        0.04        (0.40 )      (0.36 )      (0.05 )      —        (1.55 )      (1.60 )      5.91        3,807        (4.88 )      0.70        1.57        0.52        43   

Year Ended March 31, 2015

     8.89        0.04        0.60        0.64        (0.17 )      —        (1.49 )      (1.66 )      7.87        4,815        7.56        0.70        1.12        0.46        36   

Year Ended March 31, 2014

     8.88        0.09        1.46        1.55        (0.27 )      —        (1.27 )      (1.54 )      8.89        4,752        18.11        0.70        0.95        0.95        12   

Year Ended March 31, 2013

     8.43        0.04        0.49        0.53        (0.08 )      —        —        (0.08 )      8.88        4,110        6.30        0.63        0.90        0.51        35   

Year Ended March 31, 2012

     8.52        0.05        (0.03 )      0.02        (0.11 )      —        —        (0.11 )      8.43        4,982        0.42        0.50        0.75        0.61        55   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

58

Table of Contents

FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

C Shares

                              

Year Ended March 31, 2016

     $7.61        $— (g)      $(0.38 )      $(0.38 )      $(0.01 )      $—        $(1.55 )      $(1.56 )      $5.67        $695        (5.31 )%      1.30 %      2.23 %      (0.01 )%      43 % 

Year Ended March 31, 2015

     8.66        (0.01 )      0.58        0.57        (0.13 )      —        (1.49 )      (1.62 )      7.61        694        6.89        1.30        1.73        (0.16 )      36   

Year Ended March 31, 2014

     8.69        0.03        1.44        1.47        (0.23 )      —        (1.27 )      (1.50 )      8.66        675        17.50        1.30        1.56        0.31        12   

Year Ended March 31, 2013

     8.28        (0.01 )      0.46        0.45        (0.04 )      —        —        (0.04 )      8.69        704        5.47        1.27        1.56        (0.10 )      35   

Year Ended March 31, 2012

     8.39        (0.01 )      (0.02 )      (0.03 )      (0.08 )      —        —        (0.08 )      8.28        811        (0.21 )      1.20        1.45        (0.12 )      55   

Conservative Allocation Strategy(m)

                              

I Shares

                              

Year Ended March 31, 2016

     12.76        0.20        (0.42 )      (0.22 )      (0.22 )      —        (0.31 )      (0.53 )      12.01        31,067        (1.73 )      0.30        0.44        1.65        40   

Year Ended March 31, 2015

     12.60        0.23        0.53        0.76        (0.32 )      —        (0.28 )      (0.60 )      12.76        32,606        6.17 (k)      0.30        0.45        1.77        17   

Year Ended March 31, 2014

     12.54        0.24        0.68        0.92        (0.34 )      —        (0.52 )      (0.86 )      12.60        28,894        7.48 (k)      0.30        0.38        1.88        24   

Year Ended March 31, 2013

     12.27        0.21        0.46        0.67        (0.27 )      —        (0.13 )      (0.40 )      12.54        27,387        5.55        0.27        0.39        1.72        40   

Year Ended March 31, 2012

     12.07        0.27        0.38        0.65        (0.34 )      —        (0.11 )      (0.45 )      12.27        21,585        5.61        0.20        0.40        2.24        28   

A Shares

                              

Year Ended March 31, 2016

     12.75        0.16        (0.41 )      (0.25 )      (0.18 )      —        (0.31 )      (0.49 )      12.01        14,462        (1.98 )      0.60        0.67        1.33        40   

Year Ended March 31, 2015

     12.59        0.19        0.53        0.72        (0.28 )      —        (0.28 )      (0.56 )      12.75        15,991        5.86        0.60        0.67        1.47        17   

Year Ended March 31, 2014

     12.53        0.20        0.67        0.87        (0.29 )      —        (0.52 )      (0.81 )      12.59        15,271        7.14        0.60        0.66        1.57        24   

Year Ended March 31, 2013

     12.26        0.17        0.47        0.64        (0.24 )      —        (0.13 )      (0.37 )      12.53        16,940        5.29        0.56        0.68        1.37        40   

Year Ended March 31, 2012

     12.06        0.22        0.39        0.61        (0.30 )      —        (0.11 )      (0.41 )      12.26        24,322        5.32        0.50        0.70        1.83        28   

C Shares

                              

Year Ended March 31, 2016

     12.61        0.08        (0.42 )      (0.34 )      (0.10 )      —        (0.31 )      (0.41 )      11.86        19,136        (2.71 )      1.30        1.32        0.65        40   

Year Ended March 31, 2015

     12.46        0.10        0.53        0.63        (0.20 )      —        (0.28 )      (0.48 )      12.61        18,201        5.11 (k)      1.30        1.33        0.76        17   

Year Ended March 31, 2014

     12.42        0.11        0.67        0.78        (0.22 )      —        (0.52 )      (0.74 )      12.46        17,110        6.38 (k)      1.30        1.32        0.89        24   

Year Ended March 31, 2013

     12.18        0.09        0.47        0.56        (0.19 )      —        (0.13 )      (0.32 )      12.42        15,410        4.58        1.27        1.35        0.73        40   

Year Ended March 31, 2012

     11.99        0.15        0.38        0.53        (0.23 )      —        (0.11 )      (0.34 )      12.18        12,447        4.56        1.20        1.40        1.27        28   

Growth Allocation Strategy(m)

  

                            

I Shares

                              

Year Ended March 31, 2016

     11.46        0.10        (0.52 )      (0.42 )      (0.12 )      —        (0.79 )      (0.91 )      10.13        38,194        (3.74 )      0.50        0.70        0.91        29   

Year Ended March 31, 2015

     11.38        0.09        0.75        0.84        (0.24 )      —        (0.52 )      (0.76 )      11.46        53,293        7.54        0.50        0.69        0.78        23   

Year Ended March 31, 2014

     11.28        0.14        1.61        1.75        (0.35 )      —        (1.30 )      (1.65 )      11.38        53,043        15.96        0.50        0.67        1.16        14   

Year Ended March 31, 2013

     10.64        0.11        0.68        0.79        (0.15 )      —        —        (0.15 )      11.28        55,222        7.52        0.40        0.55        1.04        20   

Year Ended March 31, 2012

     10.56        0.15        0.15        0.30        (0.22 )      —        —        (0.22 )      10.64        57,078        3.06        0.20        0.26        1.53        49   

A Shares

                              

Year Ended March 31, 2016

     11.41        0.08        (0.53 )      (0.45 )      (0.10 )      —        (0.79 )      (0.89 )      10.07        7,255        (4.02 )      0.67        0.67        0.74        29   

Year Ended March 31, 2015

     11.33        0.07        0.75        0.82        (0.22 )      —        (0.52 )      (0.74 )      11.41        8,801        7.38        0.68        0.68        0.63        23   

Year Ended March 31, 2014

     11.23        0.12        1.61        1.73        (0.33 )      —        (1.30 )      (1.63 )      11.33        9,609        15.84        0.67        0.67        1.06        14   

Year Ended March 31, 2013

     10.61        0.09        0.66        0.75        (0.13 )      —        —        (0.13 )      11.23        8,975        7.16        0.61        0.64        0.84        20   

Year Ended March 31, 2012

     10.53        0.12        0.15        0.27        (0.19 )      —        —        (0.19 )      10.61        11,092        2.76        0.50        0.56        1.22        49   

C Shares

                              

Year Ended March 31, 2016

     11.18        0.01        (0.52 )      (0.51 )      (0.04 )      —        (0.79 )      (0.83 )      9.84        2,613        (4.60 )      1.30        1.31        0.08        29   

Year Ended March 31, 2015

     11.13        — (g)      0.73        0.73        (0.16 )      —        (0.52 )      (0.68 )      11.18        3,192        6.70        1.30        1.30        — (g)      23   

Year Ended March 31, 2014

     11.08        0.06        1.56        1.62        (0.27 )      —        (1.30 )      (1.57 )      11.13        2,989        15.05        1.28        1.28        0.49        14   

Year Ended March 31, 2013

     10.48        0.02        0.66        0.68        (0.08 )      —        —        (0.08 )      11.08        2,602        6.55        1.25        1.28        0.22        20   

Year Ended March 31, 2012

     10.41        0.05        0.15        0.20        (0.13 )      —        —        (0.13 )      10.48        2,793        2.03        1.20        1.26        0.50        49   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

59

Table of Contents

FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Moderate Allocation Strategy(m)

                              

I Shares

                              

Year Ended March 31, 2016

     $11.07        $0.11        $(0.43)        $(0.32 )      $(0.18 )      $—        $(1.52 )      $(1.70 )      $9.05        $45,980        (2.96 )%      0.50 %      0.57 %      1.08 %      26 % 

Year Ended March 31, 2015

     11.18        0.13        0.61        0.74        (0.26 )      —        (0.59 )      (0.85 )      11.07        94,978        6.77        0.50        0.52        1.18        18   

Year Ended March 31, 2014

     11.11        0.16        1.09        1.25        (0.31 )      —        (0.87 )      (1.18 )      11.18        109,457        11.56        0.50        0.54        1.44        18   

Year Ended March 31, 2013

     10.77        0.15        0.54        0.69        (0.18 )      —        (0.17 )      (0.35 )      11.11        139,912        6.60        0.40        0.43        1.37        29   

Year Ended March 31, 2012

     10.60        0.20        0.27        0.47        (0.28 )      —        (0.02 )      (0.30 )      10.77        133,382        4.63        0.20        0.22        1.96        38   

A Shares

                              

Year Ended March 31, 2016

     11.04        0.11        (0.45 )      (0.34 )      (0.17 )      —        (1.52 )      (1.69 )      9.01        11,972        (3.13 )      0.68        0.68        1.05        26   

Year Ended March 31, 2015

     11.15        0.11        0.62        0.73        (0.25 )      —        (0.59 )      (0.84 )      11.04        17,295        6.65        0.67        0.67        1.00        18   

Year Ended March 31, 2014

     11.08        0.15        1.09        1.24        (0.30 )      —        (0.87 )      (1.17 )      11.15        20,171        11.48        0.62        0.62        1.32        18   

Year Ended March 31, 2013

     10.75        0.13        0.54        0.67        (0.17 )      —        (0.17 )      (0.34 )      11.08        19,622        6.36        0.58        0.59        1.19        29   

Year Ended March 31, 2012

     10.58        0.18        0.26        0.44        (0.25 )      —        (0.02 )      (0.27 )      10.75        20,366        4.33        0.50        0.52        1.70        38   

C Shares

                              

Year Ended March 31, 2016

     10.95        0.05        (0.44 )      (0.39 )      (0.11 )      —        (1.52 )      (1.63 )      8.93        11,279        (3.65 )      1.26        1.26        0.45        26   

Year Ended March 31, 2015

     11.06        0.05        0.61        0.66        (0.18 )      —        (0.59 )      (0.77 )      10.95        13,553        6.07        1.23        1.23        0.47        18   

Year Ended March 31, 2014

     11.00        0.08        1.08        1.16        (0.23 )      —        (0.87 )      (1.10 )      11.06        14,591        10.81        1.21        1.21        0.73        18   

Year Ended March 31, 2013

     10.69        0.06        0.54        0.60        (0.12 )      —        (0.17 )      (0.29 )      11.00        14,106        5.69        1.20        1.21        0.56        29   

Year Ended March 31, 2012

     10.52        0.10        0.27        0.37        (0.18 )      —        (0.02 )      (0.20 )      10.69        15,028        3.60        1.20        1.22        0.95        38   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

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NOTES TO FINANCIAL HIGHLIGHTS

 

 

(a) Per share data calculated using average shares outstanding method.

 

(b) Total return excludes sales charge. Not annualized for periods less than one year.

 

(c) Annualized for periods less than one year.

 

(d) Not annualized for periods less than one year.

 

(e) The Fund had a fiscal year end change from November 30 to March 31 and adopted the historical performance of its corresponding Predecessor Fund. The returns may differ from the management’s discussion of Fund performance due to the historical performance of the Predecessor Fund (See Note 8).

 

 

(f) The Fund commenced operations on September 28, 2012.

 

(g) Rounds to less than $0.005 per share

 

(h) The amount shown for the net investment income ratio does not represent the actual prorata amount allocated to the share class due to large redemptions during the year.

 

(i) IS Shares commenced operations on September 1, 2015.

 

(j) IS Shares commenced operations on August 1, 2014.

 

(k) Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes, and as such, the net asset values for shareholder transactions and the returns based on those net asset values may differ from the net asset values and returns reported in the management’s discussion of Fund performance.

 

(l) Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statements of Operations for the year ended March 31, 2012, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values for the Fund’s portfolio.

 

(m) The Fund and its shareholders indirectly bear a pro rata share of the acquired fund fees and expenses incurred by the underlying investment companies in which the Fund is invested. The expense ratios do not include such acquired fund fees and expenses.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

1. Organization

RidgeWorth Funds (the “Trust”) is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is authorized to issue an unlimited number of shares without par value. The financial statements presented herein are those of the Aggressive Growth Stock Fund, Capital Innovations Global Resources and Infrastructure Fund, International Equity Fund, Large Cap Growth Stock Fund, Large Cap Value Equity Fund, Mid-Cap Value Equity Fund, Small Cap Growth Stock Fund, Small Cap Value Equity Fund, Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy (each, a “Fund” and collectively, the “Funds”), which are each a diversified series of the Trust. Effective the close of business on February 19, 2016, Capital Innovations Global Resources and Infrastructure Fund, a new series of the Trust, acquired the assets and assumed the liabilities of the Capital Innovations Global Agri, Timber, Infrastructure Fund (“Predecessor Fund”), a series of Investment Managers Series Trust, in a tax-free reorganization.

The Aggressive Growth Stock Fund offers I Shares and A Shares. The International Equity Fund offers I Shares, A Shares and IS Shares. The Capital Innovations Global Resources and Infrastructure Fund, Small Cap Value Equity Fund, Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy offer I Shares, A Shares and C Shares. The Large Cap Growth Stock Fund, Large Cap Value Equity Fund, Mid-Cap Value Equity Fund and Small Cap Growth Stock Fund offer I Shares, A Shares, C Shares and IS Shares.

The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which shares are held. Each class of shares has identical rights and privileges except with respect to fees paid under the Distribution and Service Plan and the Shareholder Servicing Plan (“Plan”), voting rights on matters affecting a single class of shares and sales charges. The A Shares of the Funds (except Conservative Allocation Strategy) have a maximum sales charge on purchases of 5.75% as a percentage of original purchase price. Conservative Allocation Strategy A Shares have a maximum sales charge on purchases of 4.75% as a percentage of original purchase price. Certain purchases of A Shares will not be subject to a front-end sales charge but will be subject to a contingent deferred sales charge (“CDSC”) of 0.75%, if redeemed within two years of purchase. The deferred sales charge may be waived from time to time for certain broker-dealers that waive payment of compensation to them. The C Shares have a maximum CDSC of 1.00% as a percentage of either the original purchase price or the next calculated price after the Funds receive a redemption request, whichever is less, if shares are redeemed within one year of purchase. There is no sales charge on purchases of I Shares or IS Shares.

The Trust’s officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that provide for general indemnifications. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust. However, based on experience, the Trust expects that risk of loss to be remote.

The Funds are each an investment company and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board Codification Topic 946 Financial Services – Investment Companies.

 

2. Significant Accounting Policies

The following are significant accounting policies consistently followed by the Funds which are in conformity with accounting principles generally accepted in the U.S. (“GAAP”). Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ.

(a) Investment Valuation — Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The prices are provided by independent pricing vendors approved by the Board of Trustees of the Trust (the “Board”).

The Funds, in accordance with GAAP, have adopted Financial Accounting Standards Board Codification Topic 820 (“ASC Topic 820”). ASC Topic 820 establishes a single definition of fair value, creates a three-tier hierarchy as a

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

framework for measuring fair value based on inputs used to value the Funds’ investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below:

 

  •   Level 1 — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities. Investments in underlying funds are valued at their Net Asset Value (“NAV”) daily and are classified as Level 1 prices.

 

  •   Level 2 — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include less liquid equities and certain equity securities listed or traded on foreign security exchanges which include a fair valuation adjustment factor applied to their equity prices as of the end of the period.

 

  •   Level 3 — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the Funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the Funds in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non transferability, with the amount of such discount estimated by the Funds in the absence of market information. Assumptions used by the Funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the Funds’ results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value. Exchange Traded Funds are traded on a securities exchange. The market prices of index-based investments will fluctuate in accordance with changes in the underlying portfolio securities of the investment company and also due to supply and demand of the investment company’s shares on the exchange upon which the shares are traded.

When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before each Fund calculates its NAV, each of the Funds will value the security as determined in accordance with the Pricing and Valuation Procedures approved by the Board. The Pricing and Valuation Procedures are performed and monitored by a Valuation Committee (the “Committee”) designated by the Board. Some of the more common reasons which may necessitate that a security be fair valued in accordance with the Pricing and Valuation Procedures include, but are not limited to: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when, under normal conditions, it would be open; or the security’s primary pricing source is not able or willing to provide a price. When a security is fair valued in accordance with the Pricing and Valuation Procedures, the Committee determines the value after taking into consideration relevant information reasonably available to the Committee. Under the Pricing and Valuation Procedures, such securities may be considered Level 2 or Level 3 in the fair value hierarchy. Short-term obligations with maturities of 60 days or less are valued at amortized cost, which approximates fair value, and such securities are considered Level 2 in the fair value hierarchy. Certain Funds hold securities or other assets that are denominated in a foreign currency. The Funds will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time) when valuing such assets.

The assets of Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy (the “Allocation Strategies”) consist of investments in other funds including affiliated Funds (See Note 7), which are valued at their respective daily net asset values. Recognition of net investment income by the Allocation Strategies is affected by the timing of the declaration of dividends by the other funds in which the Allocation Strategies invest. Also, in addition to the Allocation Strategies’ direct expenses, shareholders bear a proportionate share of the underlying funds’ expenses. Each underlying fund’s accounting policies and investment holdings are outlined in the underlying funds’ financial statements and are available upon request.

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value as of March 31, 2016:

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		      Total  

Aggressive Growth Stock Fund

            

Assets

            

Common Stocks1

     $26,228,878         $—         $—         $26,228,878   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      26,228,878         —         —         26,228,878   
  

 

 

     

 

 

     

 

 

     

 

 

  

Capital Innovations Global Resources and Infrastructure Fund

            

Assets

            

Common Stocks1

      3,185,243         —         —         3,185,243   

Rights

      2,730         —         —         2,730   

Money Market Fund

      198,321         —         —         198,321   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      3,386,294         —         —         3,386,294   
  

 

 

     

 

 

     

 

 

     

 

 

  

International Equity Fund

            

Assets

            

Common Stocks

            

Australia

      1,240,331         —         —         1,240,331   

Bermuda

      802,151         —         —         802,151   

Canada

      2,411,517         —         —         2,411,517   

China

      2,554,738         85,065         —         2,639,803   

Denmark

      5,402,524         —         —         5,402,524   

France

      1,028,380         —         —         1,028,380   

India

      1,112,483         —         —         1,112,483   

Ireland

      3,228,552         —         —         3,228,552   

Japan

      2,645,724         —         —         2,645,724   

Mexico

      651,715         —         —         651,715   

Netherlands

      2,873,454         —         —         2,873,454   

South Africa

      483,813         —         —         483,813   

Spain

      578,474         —         —         578,474   

Switzerland

      4,842,586         —         —         4,842,586   

Taiwan

      2,272,588         —         —         2,272,588   

United Kingdom

      3,805,120         —         —         3,805,120   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Common Stocks

      35,934,150         85,065         —         36,019,215   
  

 

 

     

 

 

     

 

 

     

 

 

  

Money Market Funds

      5,435,342         —         —         5,435,342   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      41,369,492         85,065         —         41,454,557   
  

 

 

     

 

 

     

 

 

     

 

 

  

Large Cap Growth Stock Fund

            

Assets

            

Common Stocks1

      249,566,574         —         —         249,566,574   

Money Market Funds

      3,084,442         —         —         3,084,442   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      252,651,016         —         —         252,651,016   
  

 

 

     

 

 

     

 

 

     

 

 

  

Large Cap Value Equity Fund

            

Assets

            

Common Stocks1

      2,008,860,428         —         —         2,008,860,428   

Money Market Fund

      95,041,854         —         —         95,041,854   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      2,103,902,282         —         —         2,103,902,282   
  

 

 

     

 

 

     

 

 

     

 

 

  

Mid-Cap Value Equity Fund

            

Assets

            

Common Stocks1

      3,272,949,554         —         —         3,272,949,554   

Money Market Funds

      248,578,348         —         —         248,578,348   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      3,521,527,902         —         —         3,521,527,902   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		      Total  

Small Cap Growth Stock Fund

            

Assets

            

Common Stocks1

      $51,106,876         $—         $—         $51,106,876   

Money Market Funds

      8,577,881         —         —         8,577,881   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      59,684,757         —         —         59,684,757   
  

 

 

     

 

 

     

 

 

     

 

 

  

Small Cap Value Equity Fund

            

Assets

            

Common Stocks1

      958,510,344         —         —         958,510,344   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      958,510,344         —         —         958,510,344   
  

 

 

     

 

 

     

 

 

     

 

 

  

Aggressive Growth Allocation Strategy2

            

Assets

            

Equity Funds

      4,792,804         —         —         4,792,804   

Fixed Income Funds

      513,448         —         —         513,448   

Exchange Traded Funds

      1,587,648         —         —         1,587,648   

Money Market Fund

      271,087         —         —         271,087   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      7,164,987         —         —         7,164,987   
  

 

 

     

 

 

     

 

 

     

 

 

  

Conservative Allocation Strategy2

            

Assets

            

Equity Funds

      17,420,448         —         —         17,420,448   

Fixed Income Funds

      23,068,509         —         —         23,068,509   

Exchange Traded Funds

      22,602,808         —         —         22,602,808   

Money Market Fund

      1,686,970         —         —         1,686,970   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      64,778,735         —         —         64,778,735   
  

 

 

     

 

 

     

 

 

     

 

 

  

Growth Allocation Strategy2

            

Assets

            

Equity Funds

      29,307,680         —         —         29,307,680   

Fixed Income Funds

      6,186,056         —         —         6,186,056   

Exchange Traded Funds

      10,937,084         —         —         10,937,084   

Money Market Fund

      1,646,538         —         —         1,646,538   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      48,077,358         —         —         48,077,358   
  

 

 

     

 

 

     

 

 

     

 

 

  

Moderate Allocation Strategy2

            

Assets

            

Equity Funds

      29,923,823         —         —         29,923,823   

Fixed Income Funds

      16,649,112         —         —         16,649,112   

Exchange Traded Funds

      19,761,839         —         —         19,761,839   

Money Market Fund

      2,950,327         —         —         2,950,327   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      69,285,101         —         —         69,285,101   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

1 Please see the Schedule of Portfolio Investments for Sector or Country Classification.
2 For additional information regarding the investments of the underlying RidgeWorth Funds, please call 1-888-784-3863 or visit www.ridgeworthfunds.com.

The Funds’ policy is to disclose transfers between levels based on valuations at the end of the reporting period. Each portfolio may hold securities which are periodically fair valued in accordance with the Pricing and Valuation Procedures. This may result in movements between Level 1 and Level 2 throughout the fiscal year. As of March 31, 2016, securities valued at $16,554,943 were transferred from Level 2 to Level 1 pursuant to the Pricing and Valuation Procedures for International Equity Fund. The transfers were a result of certain foreign equity securities including a fair valuation adjustment factor no longer being applied to their equity prices as of March 31, 2016.

(b) Security Transactions and Investment Income — Security transactions are accounted for on a trade date basis. Domestic and foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence. The cost of

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

investments sold is determined by use of the specific identification method. Distributions from gains from underlying funds, if any, are recorded as realized gains on the ex-dividend date.

(c) Distributions to Shareholders — Distributions from net investment income of each of the Funds are declared and paid annually to shareholders of record. Distributions of net realized capital gains, if any, are declared at least annually. Distributions to shareholders from each of the Funds are recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

(d) Distributions from Underlying Funds — Distributions received from underlying funds, whether in the form of cash or securities, are applied as a reduction of the investment’s cost when identified by the underlying fund as a return of capital. Once the investment’s cost is received, any further distributions are recognized as realized gains.

(e) Expenses and Share Class Accounting — Expenses that are directly related to a specific Fund are charged to that Fund. Other operating expenses of the Trust are allocated pro-rata to the Funds on the basis of relative net assets or another appropriate basis. Investment income, common expenses, and realized/unrealized capital gains (losses) on investments are allocated to the various share classes of the Funds on the basis of relative daily net assets of each share class. Fees relating to a specific share class are charged directly to the share class.

(f) Foreign Currency Translation — Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates, as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time), on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

The Funds do not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments and foreign currencies.

Net realized foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency contracts, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the amount actually received.

(g) Securities Lending — Each Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Board. These loans may not exceed either (i) 50% of the sum of the market value of all securities of the Fund and the market value of securities purchased with cash collateral or (ii) 33.33% of the total market value of all securities of the Fund. No Fund will lend portfolio securities to its investment adviser, subadviser, or its affiliates unless it has applied for and received specific authority to do so from the Securities and Exchange Commission. Loans of portfolio securities are required to be fully collateralized by cash, letters of credit or U.S. government securities. The initial value of the collateral must be at least 102% of the market value of the securities loaned, if the securities loaned are U.S. securities (105% for non-U.S. securities); and maintained in an amount equal to at least 100% (103% for non-U.S. securities) thereafter. However, due to market fluctuations during the day, the value of securities loaned on a particular day may exceed the value of collateral. On each business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity. Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks; including the risk that a Fund may be delayed or prevented from recovering the collateral if the borrower fails to return the securities. A fee will be obtained from the borrower if letters of credit or U.S. government securities are used as collateral. For International Equity Fund, Large Cap Growth Stock Fund, Mid-Cap Value Equity Fund and Small Cap Growth Stock Fund, all of the securities on loan are classified as Common Stock in each Fund’s Schedule of Investments, and remaining contractual maturity of agreements are classified as overnight and continuous as of March 31, 2016.

The Funds, in accordance with guidance presented, have adopted FASB Accounting Standards Update (‘‘ASU 2014-11”), Balance Sheet (Topic) 860: Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. ASU 2014-11 is intended to provide increased transparency about the types of collateral pledged in repurchase agreements and other similar transactions that are accounted for as secured borrowing.

 

 

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RIDGEWORTH FUNDS    March 31, 2016

 

(h) Real Estate Investment Trusts — Certain Funds may own shares of real estate investment trusts (“REITs”) which report information on the source of their distributions annually. The Funds re-characterize distributions received from REIT investments based on information provided by the REITs into the following categories: ordinary income, long-term capital gains, and return of capital. If information is not available on a timely basis from the REITs, the re-characterization will be estimated based on available information which may include the previous year’s allocation. If new or additional information becomes available from the REITs at a later date, a re-characterization will be made in the following year. The Funds record as dividend income the amount re-characterized as ordinary income and as realized gain the amount re-characterized as long-term capital gain in the Statements of Operations, and the amount re-characterized as a return of capital as a reduction to the cost of investments in the Statements of Assets and Liabilities and in the Schedules of Portfolio Investments. These re-characterizations are reflected in the accompanying financial statements.

(i) Restricted Securities — Certain Funds’ investments are restricted as to resale. All of these restricted securities have been deemed liquid by the Funds’ Investment Adviser based upon procedures approved by the Board, unless stated otherwise in the Funds’ Schedules of Portfolio Investments. As of March 31, 2016, the Funds did not have any restricted securities.

(j) Foreign Investment Risks — Certain Funds may invest in securities of foreign issuers in various countries. Investments in securities of foreign issuers carry certain risks not ordinarily associated with investments in securities of U.S. issuers. These risks include future political and economic developments, and the possible imposition of exchange controls or other foreign governmental laws and restrictions. In addition, with respect to certain countries, there is a possibility of expropriation of assets, confiscatory taxation, political or social instability or diplomatic developments, which could adversely affect investments in those countries. Emerging market countries are countries that the World Bank or the United Nations considers to be emerging or developing. Emerging markets may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. In addition, the financial stability of issuers, including governments, in emerging market countries may be more precarious than in other countries. As a result, there may be an increased risk of price volatility associated with a Fund’s investments in emerging market countries, which may be magnified by currency fluctuations relative to the U.S. dollar. Please refer to each Fund’s prospectus for additional risks that may be associated with the Funds.

For securities subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities’ current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

(k) Federal and Other Taxes — It is the Funds’ policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the “Code”), as amended, applicable to regulated investment companies. Accordingly, the Funds intend to distribute taxable income and net realized gains, if any, to shareholders in accordance with timing requirements imposed by the Code. Therefore, no federal or state income tax provision is required in the Funds’ financial statements.

Management has analyzed the Funds’ tax positions taken on income tax returns for all open tax years and has concluded that as of March 31, 2016, no provision for income tax is required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue. As of March 31, 2016, open tax years include the tax years of March 31, 2013 through 2016.

Under the applicable foreign tax laws, a withholding tax may be imposed on interest, dividends and capital gains at various rates. The Funds will accrue such taxes and recoveries as applicable, based upon their current interpretation of tax rules and regulations that exist in the markets in which they invest.

(l) Reclassification — GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share.

(m) Line of Credit —The Funds entered into a committed unsecured revolving line of credit agreement (“LOC”) with a syndicate of banks which includes State Street Bank and Trust (“State Street Bank”) and Royal Bank of Canada (“RBC”), for an aggregate amount of $200,000,000. The proceeds may be used only to (1) temporarily finance the

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

purchase and sale of securities; or (2) finance the redemption of shares of the Funds. The Funds will pay a commitment fee on a pro rata basis to State Street Bank and RBC, in the amount of 0.15% per annum on the daily unused portion of the LOC. Borrowings under the LOC will accrue interest at the higher of (a) the Federal Funds Rate, or (b) the One-month LIBOR Rate, plus 1.25% per annum. Generally, repayments must be made within 60 days of the borrowings. Commitment fees and interest expense paid to State Street Bank and RBC pursuant to this agreement are reflected on the Statements of Operations as a component of Other Fees. Prior to the September 23, 2015 syndicated agreement, a credit agreement with State Street Bank permitted an aggregate amount of $250,000,000 under similar terms and interest rates as described above. As of March 31, 2016, the Aggressive Growth Stock Fund and Small Cap Value Equity Fund had outstanding borrowings under the LOC.

The following Funds had an outstanding loan during the year. The borrowings were valued at cost, which approximates fair value.

 

Fund

    Interest Incurred
on Borrowing		      Average Dollar
Amount of Borrowing		      Weighted Average
Interest Rate on
Borrowing		     Days Loan
was Open		  

Aggressive Growth Stock Fund

      $2,567         $790,712         1.49 %      80   

International Equity Fund

      126         539,405         1.71        5   

Large Cap Growth Stock Fund

      202         275,259         1.49        18   

Large Cap Value Equity Fund

      318         7,967,953         1.46        1   

Small Cap Growth Stock Fund

      482         839,079         1.50        14   

Small Cap Value Equity Fund

      6,650         1,833,334         1.51        88   

(n) Master Limited Partnership — Certain Funds may invest in domestic master limited partnership (“MLPs”). MLPs are publicly traded companies organized as limited partnerships or limited liability companies and treated as partnerships for federal income tax purposes. An investment in MLP units involves risks in addition to the risks associated with a similar investment in equity securities, such as common stock, of a corporation. As compared to common shareholders of a corporation, holders of MLP units have more limited control and limited rights to vote on matters affecting the partnership. Additional risks inherent to investments in MLP units include cash flow risk, tax risk, risk associated with a potential conflict of interest between unit holders and the MLP’s general partner, and capital markets risk. Moreover, the value of the Fund’s investment in MLPs depends largely on the MLPs being treated as partnerships for U.S. federal income tax purposes. If an MLP does not meet current legal requirements to maintain eligibility for partnership tax treatment, or if it is unable to do so because of tax law changes, it could be taxed as a corporation and there could be a material decrease in the value of its securities. Certain MLP securities may trade in lower volumes due to their smaller capitalizations. Accordingly, those MLPs may be subject to more abrupt or erratic price movements and may lack sufficient market liquidity to enable the Fund to effect sales at an advantageous time or without a substantial drop in price. MLPs are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns.

Distributions received from each Fund’s investments in MLPs may be comprised of both income and return of capital. Each Fund records investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on historical information available from each MLP and other industry sources. These estimates may subsequently be revised based on information received from MLPs after their tax reporting periods are concluded.

 

3. Investment Adviser and Other Service Providers

Investment Adviser — RidgeWorth Investments (“Investment Adviser”) serves as the investment adviser to the Funds. The Trust and the Investment Adviser have entered into an investment advisory agreement (“Advisory Agreement”). The Investment Adviser is a money–management holding company with multiple style-focused investment boutiques which, along with certain unaffiliated advisory firms, serve as subadvisers to the Funds (“Subadvisers”). The Subadvisers for each of the Funds, other than the Allocation Strategies, which are not subadvised, are as follows: Capital Innovations LLC serves as the Subadviser for the Capital Innovations Global Resources and Infrastructure Fund; Ceredex Value Advisors LLC serves as the Subadviser for the Large Cap Value Equity Fund, Mid-Cap Value Equity Fund and Small Cap Value Equity Fund; Certium Asset Management LLC served as the Subadviser for the International Equity Fund through August 31, 2015 and beginning September 1, 2015, WCM Investment Management serves as Subadviser for the International Equity Fund; Silvant Capital Management LLC serves as the Subadviser for the Large Cap Growth

 

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Stock Fund and Small Cap Growth Stock Fund; and Zevenbergen Capital Investments LLC serves as the Subadviser for the Aggressive Growth Stock Fund. Zevenbergen Capital Investments LLC is a minority-owned subsidiary of the Investment Adviser. Capital Innovations LLC and WCM Investment Management are not affiliated with the Investment Adviser. Ceredex and Silvant are wholly-owned subsidiaries of the Investment Adviser. The Investment Adviser pays the Subadvisers out of the investment advisory fees it receives from the Funds.

The Predecessor Fund had an Advisory Agreement with Liberty Street Advisors, Inc. (“Liberty Street”). Liberty Street engaged Capital Innovations LLC (the “Sub-Advisor”) to manage the Fund and paid the Sub-Advisor from its advisory fees.

Under the terms of the Advisory Agreement, the Funds are charged annual advisory fees, which are computed daily and paid monthly based upon average daily net assets. Breakpoints are used in computing the overall annual advisory fee. The maximum annual advisory fee is charged on average daily net assets of each Fund up to $500 million. A discount of 5% applies on the next $500 million, a discount of 10% applies on the next $4 billion and a discount of 15% applies on amounts over $5 billion. Fee rates for the period or fiscal year ended March 31, 2016 were as follows:

 

Fund

   Maximum Annual
Advisory Fee		     Discounted Annual

Advisory Fee		     Advisory Fees
Waived		     Net Annual

Fees Paid*		  

Aggressive Growth Stock Fund

     0.85 %      0.85 %      — %      0.85 % 

Capital Innovations Global Resources and Infrastructure Fund**

     1.00        1.00        (1.00 )      —   

International Equity Fund***

     0.85        0.85        (0.27 )      0.58   

Large Cap Growth Stock Fund

     0.70        0.70        (0.01 )      0.69   

Large Cap Value Equity Fund

     0.70        0.65        —        0.65   

Mid-Cap Value Equity Fund

     0.75        0.69        —        0.69   

Small Cap Growth Stock Fund

     0.85        0.85        —        0.85   

Small Cap Value Equity Fund

     0.85        0.82        —        0.82   

Aggressive Growth Allocation Strategy

     0.10        0.10        (0.10 )      —   

Conservative Allocation Strategy

     0.10        0.10        (0.02 )      0.08   

Growth Allocation Strategy

     0.10        0.10        —        0.10   

Moderate Allocation Strategy

     0.10        0.10        —        0.10   

 

* Aggregate annual fees paid to the Investment Adviser, who pays the applicable Subadviser a portion of the fees for its services to the Funds.
** The Predecessor Fund paid a monthly investment advisory fee to Liberty Street at the annual rate of 1.10% of the Fund’s average daily net assets.
*** Effective September 1, 2015, the International Equity Fund’s investment advisory fee was reduced from 0.90% to 0.85%. The Maximum and Discounted Annual Advisory Fee reflects the reduced annual advisory fee for the period September 1, 2015 through March 31, 2016. For the period ended August 31, 2015, the Maximum and Discounted Annual Advisory Fee would have been 0.90%, respectively.

Amounts designated as “—” are 0%.

The Investment Adviser and the applicable Subadviser have contractually agreed, until at least August 1, 2016, to waive fees and/or reimburse expenses, at a class level, for each of the following Funds to the extent necessary to maintain each Fund’s total annual fund operating expenses (excluding, as applicable, taxes, brokerage commissions, substitute dividend expenses on securities sold short, interest expense, extraordinary expenses and indirect expenses attributable to the Fund’s investment in other funds), expressed as a percentage of average daily net assets, as noted below:

 

           Contractual Expense Limitations
August 1, 2015 to March 31, 2016*		  

Fund

    I Shares     A Shares     C Shares     IS Shares  

Aggressive Growth Stock Fund

      1.30 %      1.50 %      N/A %      N/A % 

International Equity Fund**

      1.25        1.50        N/A        1.10   

Large Cap Growth Stock Fund**

      0.97        1.25        1.95        0.90   

Large Cap Value Equity Fund

      0.97        1.27        1.97        0.85   

Mid-Cap Value Equity Fund**

      1.15        1.40        1.95        0.95   

Small Cap Growth Stock Fund**

      1.30        1.50        2.20        1.05   

Small Cap Value Equity Fund

      1.30        1.55        2.15        N/A   

Aggressive Growth Allocation Strategy

      0.50        0.70        1.30        N/A   

Conservative Allocation Strategy

      0.30        0.60        1.30        N/A   

 

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RIDGEWORTH FUNDS    March 31, 2016

 

           Contractual Expense Limitations
August 1, 2015 to March 31, 2016*		  

Fund

    I Shares     A Shares     C Shares     IS Shares  

Growth Allocation Strategy

      0.50 %      0.70 %      1.30 %      N/A % 

Moderate Allocation Strategy

      0.50        0.70        1.30        N/A   

 

* These contractual Expense Limitations were in effect for the entire fiscal year except for the Funds listed below.
** For the period April 1, 2015 to July 31, 2015 (International Equity Fund was April 1, 2015 to August 31, 2015), the Contractual Expense Limitations were as follows:

 

Fund

    I Shares     A Shares     C Shares     IS Shares  

International Equity Fund

      1.37 %      1.57 %      N/A %      N/A % 

Large Cap Growth Stock Fund

      0.97        1.25        1.95        0.85   

Mid-Cap Value Equity Fund

      1.15        1.40        2.00        0.95   

Small Cap Growth Stock Fund

      1.30        1.55        2.20        1.05   

 

Fund

    I Shares     A Shares     C Shares     IS Shares  

Capital Innovations Global Resources and Infrastructure Fund*

      1.15 %      1.40 %      2.15 %      N/A % 

Capital Innovations Global Resources and Infrastructure Fund**

      1.35        1.60        2.35        N/A   

 

* For the period February 20, 2016 to March 31, 2016.
** For the period December 1, 2014 to February 19, 2016.

Under the Expense Limitation Agreement, the Investment Adviser may retain the difference between the Contractual Expense Limitations identified above and the actual total expenses to recapture any of its prior contractual waivers or reimbursements at a date not to exceed three years from the date of such waivers or reimbursements. Such repayments shall be made monthly, but only to the extent that such repayments would not cause the annualized total expense ratio to exceed, if lower, the contractual expense limitation in place at the time of the waiver or reimbursement. Under certain circumstances, the Investment Adviser may choose to voluntarily waive fees. In the event that the Investment Adviser voluntarily waives any fees, these waived fees are not subject to recoupment by the Investment Adviser. During the fiscal year ended March 31, 2016, the Investment Adviser did not recapture any of its prior contractual waivers or reimbursements. As of March 31, 2016, the cumulative potential recoupments recoverable pursuant to this agreement are as follows:

 

     Expires  

Fund

    2017      2018      2019  

Aggressive Growth Stock Fund

      $21,142         $10,874         $17,391   

Capital Innovations Global Resources and Infrastructure Fund*

      N/A         N/A         78,147   

International Equity Fund

      388         28,095         94,494   

Large Cap Growth Stock Fund

      323,087         343,363         331,753   

Large Cap Value Equity Fund

      3,069,235         2,844,564         2,457,755   

Mid-Cap Value Equity Fund

      437,950         26,241         239,140   

Small Cap Growth Stock Fund

      78,271         79,058         63,957   

Aggressive Growth Allocation Strategy

      84,819         88,191         83,420   

Conservative Allocation Strategy

      37,397         62,624         57,158   

Growth Allocation Strategy

      90,194         100,956         92,983   

Moderate Allocation Strategy

      48,002         21,110         48,623   

 

* For the year ended November 30, 2015, Liberty Street waived all its fees and absorbed other expenses totaling $246,563. Liberty Street was able to recover from the Predecessor Fund fees and/or expenses previously waived and/or absorbed, if the Predecessor Fund’s expense ratio, including the recovered expenses, fell below the expense at which they were waived. Liberty Street was permitted to seek reimbursement from the Predecessor Fund for a period of three fiscal years following the fiscal year in which such reimbursements occurred. The amounts waived on the Predecessor Fund are not eligible for recapture by Liberty Street or the Investment Adviser.

Fund Accounting, Custody, Administration, and Transfer Agency — State Street Bank and Trust Company (“State Street Bank”) serves as the fund accounting agent and custodian for the Trust pursuant to a Master Custodian Agreement. The custodian is responsible for the safekeeping of the assets of the Funds and the fund accounting agent is responsible for calculating the Funds’ NAVs. State Street Bank, as the Funds’ custodian and fund accounting agent, is paid on the basis of net assets and transaction costs of the Funds. State Street Bank also serves as the administrator for the Trust pursuant to an administration agreement. State Street Bank, as the

 

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Funds’ administrator, is paid on the basis of net assets of the Funds which are allocated among the series of the Trust, on the basis of relative net assets. UMB Fund Services, Inc. (“UMBFS”) served as the Predecessor Fund’s fund accountant, transfer agent and co-administrator; and Mutual Fund Administration, LLC (“MFAC”) served as the Fund’s other co-administrator. UMB Bank, n.a., an affiliate of UMBFS, served as the Predecessor Fund’s custodian.

Boston Financial Data Services, Inc. (“BFDS”) serves as the transfer agent to the Trust pursuant to a Transfer Agency and Service Agreement. BFDS is paid on the basis of net assets, per account fees and certain transaction costs.

Custodian Credits — The Funds have an agreement with their custodian under which custody fees may be reduced by balance credits. These credits, if any, are shown as a reduction of custody expenses on the Statements of Operations.

Distribution — The Trust and RidgeWorth Distributors LLC (the “Distributor”) are parties to a Distribution Agreement. Foreside Fund Services, LLC (the “Predecessor Distributor”) served as the Predecessor Fund’s distributor.

In addition, with respect to the A Shares and C Shares, the Distributor receives amounts, pursuant to a Plan, based upon average daily net assets of each respective class, which are computed daily and paid monthly. For the period or fiscal year ended March 31, 2016, the Distributor did not retain any of the front end sales charges assessed on the sale of Class A Shares. For the period or fiscal year ended March 31, 2016, the Distributor did not retain any commissions from contingent deferred sales charges assessed on the redemption of Class C Shares. These fees, expressed as a percentage of average daily net assets, for the period or fiscal year ended March 31, 2016, were as follows:

 

Fund

    A Share
Distribution
and Service
Fee		     C Share
Distribution
and Service
Fee		  

Aggressive Growth Stock Fund

      0.30 %      N/A % 

Capital Innovations Global Resources and Infrastructure Fund*

      0.25        1.00   

International Equity Fund

      0.30        N/A   

Large Cap Growth Stock Fund

      0.30        1.00   

Large Cap Value Equity Fund

      0.30        1.00   

Mid-Cap Value Equity Fund

      0.30        1.00   

Small Cap Growth Stock Fund

      0.30        1.00   

Small Cap Value Equity Fund

      0.30        1.00   

Aggressive Growth Allocation Strategy

      0.30        1.00   

Conservative Allocation Strategy

      0.30        1.00   

Growth Allocation Strategy

      0.30        1.00   

Moderate Allocation Strategy

      0.30        1.00   

 

* The Predecessor Fund, had adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act, that allowed the Predecessor Fund to pay distribution fees for the sale and distribution of its shares. With respect to the A Shares and C Shares, the Distribution Plan provided the payment of distribution fees at the annual rate of up to 0.25% and 1.00%, respectively, of average daily net assets, payable to the Predecessor Distributor. For the period from December 1, 2014 to November 31, 2015, $23,651 of net selling commissions and $18 of deferred sales charges from the Predecessor Fund’s Class A and Class C Shares were retained by the Predecessor Distributor, Liberty Street and/or a broker-dealer affiliated with Liberty Street. For the period from December 1, 2015 to February 19, 2016, the Predecessor Distributor, Liberty Street and/or a broker-dealer affiliated with Liberty Street did not retain any commissions from contingent deferred sales charges.

Shareholder Servicing Fees — The Funds have adopted a shareholder services fee for the I Shares and A Shares. Each of these Funds (or class thereof, as the case may be) may pay a services fee to financial institutions that provide certain services to the Funds. The services under each of these Plans may include, among others, providing general shareholder liaison services (including responding to shareholder inquiries), providing information on shareholder investments, and establishing and maintaining shareholder accounts and records. The Funds may pay a fee under the Plan up to an annual rate of 0.40% (except for Conservative Allocation Strategy which may pay 0.20%) of average daily net assets of a Fund’s I Shares or A Shares.

Compliance & Fund Services Fees — The Investment Adviser provides compliance and certain administrative services to the Trust to ensure compliance with applicable laws and regulations. For the period or fiscal year ended March 31, 2016, the Investment Adviser was paid $1,483,680 for these services. Foreside Fund Officer Services,

 

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RIDGEWORTH FUNDS    March 31, 2016

 

LLC (‘‘FFOS’’) (formerly Foreside Compliance Services, LLC), an affiliate of the Distributor, provides an Anti-Money Laundering Officer/Identity Theft Prevention Officer (“AML Officer”) to the Trust. Effective October 2015, Foreside Management Services, LLC (“FMS”), an affiliate of the Distributor, provides Principal Financial Officer (“PFO”) support services to the Trust. Fees paid to FFOS and FMS pursuant to these agreements are reflected on the Statements of Operations as a component of the caption “Other Fees”.

Neither FFOS nor any of their officers or employees who serve as an officer of the Trust, have any role in determining the Funds’ investment policies or which securities are to be purchased or sold by the Trust or its Funds. Dziura Compliance Consulting, LLC. provided Chief Compliance Officer services to the Trust of the Predecessor Fund.

Certain officers of the Trust are also officers or employees of the Investment Adviser, FFOS and the administrator. Such officers receive no fees from the Trust for serving as officers of the Trust.

Each of the Trustees receives an annual retainer and an additional fee for each meeting attended, plus reimbursement for certain expenses incurred. Trustees receive an additional fee for committee service, paid on a per committee meeting basis. Information on the aggregate remuneration paid to the Trustees can be found on the Statements of Operations. Certain trustees and officers of the Predecessor Fund are employees of UMBFS or MFAC. The Predecessor Fund did not compensate trustees and officers affiliated with the Predecessor Fund’s co-administrators. For the year November 30, 2015, the Predecessor Fund’s allocated fees incurred to Trustees who are not affiliated with the Fund’s co-administrators are reported on the Statement of Operations.

 

4. Capital Stock Transactions

Transactions in capital shares and dollars for the fiscal years or periods ended March 31 were as follows:

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Acquired		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Dollars
Acquired		     Change in
Net Assets
from Capital
Transactions		  

Aggressive Growth Stock Fund

  

I Shares

                        

3/31/2016

     548,154        —        53,058        (780,401 )      —        (179,189 )      $11,930,895        $—        $1,137,563        $(16,749,913 )      $—        $(3,681,455 ) 

3/31/2015

     771,714        —        34,372        (1,537,321 )      —        (731,235 )      16,986,444        —        705,664        (32,440,931 )      —        (14,748,823 ) 

A Shares

                        

3/31/2016

     491,401        —        32,204        (588,841 )      —        (65,236 )      10,889,054        —        664,359        (11,980,061 )      —        (426,648 ) 

3/31/2015

     333,753        —        20,893        (818,818 )      —        (464,172 )      7,023,331        —        414,515        (16,744,116 )      —        (9,306,270 ) 

Capital Innovations Global Resources and Infrastructure Fund*

  

I Shares

                        

3/31/2016

     3,035        —        5,161        (128,484 )      —        (120,288 )      59,395        —        46,705        (1,183,254 )      —        (1,077,154 ) 

11/30/2015

     151,688        —        9,145        (882,873 )      —        (722,040 )      1,779,840        —        97,384        (9,919,217 )      —        (8,041,993 ) 

11/30/2014

     661,436        —        6,892        (82,279 )      —        586,049        7,914,456        —        82,448        (971,095 )      —        7,025,809   

A Shares

                        

3/31/2016

     43,130        —        3,308        (85,449 )      —        (39,011 )      370,255        —        29,907        (757,555 )      —        (357,393 ) 

11/30/2015

     21,244        —        3,097        (103,382 )      —        (79,041 )      243,958        —        31,531        (1,100,279 )      —        (824,790 ) 

11/30/2014

     282,071        —        4,367        (514,794 )      —        (228,356 )      3,305,759        —        52,142        (6,157,386 )      —        (2,799,485 ) 

C Shares

                        

3/31/2016

     74        —        327        (8,998 )      —        (8,597 )      600        —        2,921        (78,504 )      —        (74,983 ) 

11/30/2015

     383        —        254        (32,148 )      —        (31,511 )      4,143        —        2,464        (359,224 )      —        (352,617 ) 

11/30/2014

     1,696        —        373        (10,732 )      —        (8,663 )      20,000        —        4,381        (125,852 )      —        (101,471 ) 

International Equity Fund

  

I Shares

                        

3/31/2016

     2,720,094        —        102,990        (1,551,831 )      —        1,271,253        25,253,022        —        965,887        (14,988,624 )      —        11,230,285   

3/31/2015

     273,200        —        219,862        (834,676 )      —        (341,614 )      3,132,311        —        2,174,438        (9,864,306 )      —        (4,557,557 ) 

A Shares

                        

3/31/2016

     62,804        —        39,888        (92,288 )      —        10,404        607,480        —        368,947        (879,026 )      —        97,401   

3/31/2015

     38,135        —        50,709        (79,055 )      —        9,789        461,393        —        496,445        (868,448 )      —        89,390   

IS Shares**

                        

3/31/2016

     1,003,460        —        82,004        (458,797 )      —        626,667        9,776,110        —        765,921        (4,203,512 )      —        6,338,519   

 

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RIDGEWORTH FUNDS    March 31, 2016

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Acquired		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Dollars
Acquired		     Change in
Net Assets
from Capital
Transactions		  

Large Cap Growth Stock Fund

  

                

I Shares

                        

3/31/2016

     1,473,996        —        900,056        (2,909,360 )      —        (535,308 )      $ 14,888,243        $ —        $ 8,901,552        $ (28,987,265 )      $ —        $ (5,197,470 ) 

3/31/2015

     1,145,645        387,177        931,578        (9,541,432 )      —        (7,077,032 )      11,535,979        3,780,324        8,896,572        (94,908,639 )      —        (70,695,764 ) 

A Shares

                        

3/31/2016

     852,332        —        636,361        (1,077,242 )      —        411,451        7,111,443        —        5,249,983        (9,296,236 )      —        3,065,190   

3/31/2015

     244,613        46,639        628,599        (1,075,575 )      —        (155,724 )      2,079,136        386,118        5,091,651        (9,305,746 )      —        (1,748,841 ) 

C Shares

                        

3/31/2016

     206,005        —        923,411        (1,092,958 )      —        36,458        1,295,039        —        5,318,850        (6,604,447 )      —        9,442   

3/31/2015

     78,769        2,121,925        628,491        (922,698 )      —        1,906,487        499,853        12,809,849        3,714,383        (5,927,526 )      —        11,096,559   

IS Shares**

                        

3/31/2016

     221,083        —        310,286        (1,710,804 )      —        (1,179,435 )      2,193,018        —        3,074,932        (17,602,568 )      —        (12,334,618 ) 

3/31/2015

     5,498,008        —        410,634        (781,632 )      —        5,127,010        54,700,339        —        3,925,660        (7,986,961 )      —        50,639,038   

Large Cap Value Equity Fund

  

I Shares

                        

3/31/2016

     20,150,176        —        10,337,408        (48,665,920 )      —        (18,178,336 )      313,559,680        —        153,510,502        (757,220,055 )      —        (290,149,873 ) 

3/31/2015

     28,004,437        —        10,411,299        (28,071,259 )      —        10,344,477        487,222,495        —        171,890,545        (488,874,435 )      —        170,238,605   

A Shares

                        

3/31/2016

     5,044,971        —        2,344,910        (10,555,409 )      —        (3,165,528 )      77,627,924        —        34,587,431        (162,541,146 )      —        (50,325,791 ) 

3/31/2015

     9,474,829        —        2,094,788        (6,025,065 )      —        5,544,552        161,712,009        —        34,354,522        (104,053,220 )      —        92,013,311   

C Shares

                        

3/31/2016

     168,986        —        104,345        (252,165 )      —        21,166        2,586,038        —        1,506,746        (3,803,478 )      —        289,306   

3/31/2015

     195,248        —        97,568        (199,264 )      —        93,552        3,295,166        —        1,569,872        (3,367,738 )      —        1,497,300   

IS Shares**

                        

3/31/2016

     17,756,283        —        695,598        (2,231,219 )      —        16,220,662        272,105,222        —        10,357,452        (35,798,821 )      —        246,663,853   

3/31/2015

     2,414,485        —        214,418        (373,525 )      —        2,255,378        42,229,351        —        3,548,617        (6,471,013 )      —        39,306,955   

Mid-Cap Value Equity Fund

  

I Shares

                        

3/31/2016

     70,932,507        —        15,470,227        (124,771,969 )      —        (38,369,235 )      944,525,295        —        185,642,714        (1,588,015,202 )      —        (457,847,193 ) 

3/31/2015

     75,618,560        —        22,344,516        (63,653,637 )      —        34,309,439        1,077,018,496        —        299,639,961        (900,329,838 )      —        476,328,619   

A Shares

                        

3/31/2016

     8,310,004        —        2,239,506        (21,427,055 )      —        (10,877,545 )      103,995,201        —        26,627,731        (269,580,637 )      —        (138,957,705 ) 

3/31/2015

     12,357,606        —        4,163,016        (16,948,542 )      —        (427,920 )      175,172,958        —        55,284,847        (239,822,755 )      —        (9,364,950 ) 

C Shares

                        

3/31/2016

     727,265        —        319,531        (2,214,544 )      —        (1,167,748 )      9,133,165        —        3,722,533        (26,768,700 )      —        (13,913,002 ) 

3/31/2015

     1,386,234        —        465,316        (1,295,312 )      —        556,238        19,061,237        —        6,067,724        (17,956,929 )      —        7,172,032   

IS Shares**

                        

3/31/2016

     15,707,999        —        732,470        (2,549,531 )      —        13,890,938        198,028,731        —        8,789,644        (31,313,030 )      —        175,505,345   

3/31/2015

     1,799,875        —        117,344        (216,439 )      —        1,700,780        25,429,162        —        1,573,581        (3,067,418 )      —        23,935,325   

Small Cap Growth Stock Fund

  

I Shares

                        

3/31/2016

     1,663,997        —        1,477,948        (7,377,883 )      —        (4,235,938 )      22,596,390        —        13,582,340        (102,469,861 )      —        (66,291,131 ) 

3/31/2015

     2,194,963        —        1,429,932        (5,242,479 )      —        (1,617,584 )      33,668,736        —        19,518,572        (80,122,419 )      —        (26,935,111 ) 

A Shares

                        

3/31/2016

     21,550        —        375,807        (182,679 )      —        214,678        202,393        —        2,889,957        (2,025,759 )      —        1,066,591   

3/31/2015

     40,353        —        132,617        (136,830 )      —        36,140        573,081        —        1,615,276        (1,863,978 )      —        324,379   

C Shares

                        

3/31/2016

     33,324        —        659,605        (155,405 )      —        537,524        169,847        —        2,763,745        (1,031,867 )      —        1,901,725   

3/31/2015

     11,684        —        157,551        (112,020 )      —        57,215        126,065        —        1,384,870        (1,143,188 )      —        367,747   

IS Shares**

                        

3/31/2016

     139,519        —        159,913        (335,556 )      —        (36,124 )      1,172,382        —        1,477,592        (3,442,521 )      —        (792,547 ) 

3/31/2015

     420,184        —        69,231        (69,647 )      —        419,768        6,521,289        —        945,691        (1,047,626 )      —        6,419,354   

 

73

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Acquired		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Dollars
Acquired		     Change in
Net Assets
from Capital
Transactions		  

Small Cap Value Equity Fund

  

I Shares

                        

3/31/2016

     9,039,448        —        20,227,454        (28,396,574 )      —        870,328        $ 119,891,772        $ —        $ 214,208,737        $ (401,188,555 )    $ —        $ (67,088,046 ) 

3/31/2015

     14,328,910        —        14,400,833        (42,168,204 )      —        (13,438,461 )      242,493,484        —        213,564,354        (684,968,801 )      —        (228,910,963 ) 

A Shares

                        

3/31/2016

     1,418,812        —        3,276,571        (4,299,801 )      —        395,582        18,086,807        —        33,715,915        (55,236,911 )      —        (3,434,189 ) 

3/31/2015

     1,090,425        —        1,826,846        (3,323,691 )      —        (406,420 )      17,777,258        —        26,525,804        (55,074,476 )      —        (10,771,414 ) 

C Shares

                        

3/31/2016

     125,149        —        824,781        (580,956 )      —        368,974        1,457,675        —        7,777,689        (6,562,360 )      —        2,673,004   

3/31/2015

     75,751        —        403,650        (416,076 )      —        63,325        1,148,740        —        5,505,787        (6,423,069 )      —        231,458   

Aggressive Growth Allocation Strategy

  

I Shares

                        

3/31/2016

     163,776        —        126,587        (477,603 )      —        (187,240 )      1,140,442        —        770,918        (3,228,087 )      —        (1,316,727 ) 

3/31/2015

     201,103        —        181,073        (1,340,171 )      —        (957,995 )      1,791,606        —        1,414,181        (11,779,778 )      —        (8,573,991 ) 

A Shares

                        

3/31/2016

     64,769        —        131,644        (164,335 )      —        32,078        408,402        —        791,183        (1,229,039 )      —        (29,454 ) 

3/31/2015

     43,270        —        109,095        (75,246 )      —        77,119        381,295        —        842,214        (659,540 )      —        563,969   

C Shares

                        

3/31/2016

     14,735        —        24,170        (7,338 )      —        31,567        105,683        —        139,463        (56,859 )      —        188,287   

3/31/2015

     10,616        —        15,736        (13,195 )      —        13,157        91,828        —        117,703        (113,160 )      —        96,371   

Conservative Allocation Strategy

  

I Shares

                        

3/31/2016

     852,015        —        89,107        (910,633 )      —        30,489        10,523,543        —        1,062,151        (11,175,084 )      —        410,610   

3/31/2015

     872,470        —        95,184        (705,355 )      —        262,299        11,155,782        —        1,189,804        (9,026,545 )      —        3,319,041   

A Shares

                        

3/31/2016

     222,317        —        45,758        (317,990 )      —        (49,915 )      2,695,221        —        545,889        (3,912,015 )      —        (670,905 ) 

3/31/2015

     221,379        —        52,208        (232,249 )      —        41,338        2,826,361        —        652,605        (2,962,704 )      —        516,262   

C Shares

                        

3/31/2016

     401,289        —        47,982        (279,667 )      —        169,604        4,921,132        —        566,671        (3,400,633 )      —        2,087,170   

3/31/2015

     301,977        —        45,992        (277,773 )      —        70,196        3,807,358        —        569,841        (3,509,545 )      —        867,654   

Growth Allocation Strategy

  

I Shares

                        

3/31/2016

     826,999        —        362,432        (2,067,210 )      —        (877,779 )      9,049,400        —        3,700,426        (22,159,053 )      —        (9,409,227 ) 

3/31/2015

     986,973        —        297,470        (1,295,944 )      —        (11,501 )      11,440,197        —        3,340,587        (15,079,859 )      —        (299,075 ) 

A Shares

                        

3/31/2016

     52,273        —        60,102        (163,704 )      —        (51,329 )      527,166        —        610,632        (1,773,011 )      —        (635,213 ) 

3/31/2015

     33,828        —        50,310        (160,865 )      —        (76,727 )      386,582        —        562,471        (1,821,475 )      —        (872,422 ) 

C Shares

                        

3/31/2016

     59,127        —        19,997        (99,143 )      —        (20,019 )      599,150        —        198,973        (990,457 )      —        (192,334 ) 

3/31/2015

     23,746        —        15,467        (22,260 )      —        16,953        266,165        —        169,832        (251,185 )      —        184,812   

Moderate Allocation Strategy

  

I Shares

                        

3/31/2016

     1,016,718        —        842,718        (5,356,856 )      —        (3,497,420 )      10,654,884        —        7,635,031        (57,348,612 )      —        (39,058,697 ) 

3/31/2015

     1,191,491        —        647,045        (3,055,762 )      —        (1,217,226 )      13,448,718        —        7,020,433        (34,476,033 )      —        (14,006,882 ) 

A Shares

                        

3/31/2016

     75,028        —        222,574        (535,529 )      —        (237,927 )      766,987        —        2,007,615        (5,698,032 )      —        (2,923,430 ) 

3/31/2015

     53,654        —        115,957        (412,530 )      —        (242,919 )      605,069        —        1,254,652        (4,640,926 )      —        (2,781,205 ) 

C Shares

                        

3/31/2016

     46,989        —        197,738        (219,034 )      —        25,693        476,260        —        1,771,729        (2,199,100 )      —        48,889   

3/31/2015

     56,352        —        78,989        (216,841 )      —        (81,500 )      621,754        —        849,127        (2,414,293 )      —        (943,412 ) 

 

* Capital Innovations Global Resources and Infrastructure Fund had a fiscal year date change from November 30 to March 31 and a reorganization on February 19, 2016 (See Note 8).
** IS Shares commenced operations on August 1, 2014 (September 1, 2015 for International Equity Fund).

 

74

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

5. Investment Transactions

The cost of security purchases and the proceeds from sales of securities, excluding securities maturing less than one year from acquisition and U.S. government securities, for the fiscal year or period ended March 31, 2016 were as follows:

 

     Purchases      Sales  

Aggressive Growth Stock Fund

      $19,143,085         $25,748,049   

Capital Innovations Global Resources and Infrastructure Fund*

      878,176         2,650,085   

International Equity Fund

      43,629,152         29,375,860   

Large Cap Growth Stock Fund

      27,362,450         64,567,518   

Large Cap Value Equity Fund

      1,406,462,194         1,668,313,036   

Mid-Cap Value Equity Fund

      3,724,099,803         4,279,517,650   

Small Cap Growth Stock Fund

      66,385,249         149,667,220   

Small Cap Value Equity Fund

      383,676,495         711,637,360   

Aggressive Growth Allocation Strategy

      3,666,602         5,935,041   

Conservative Allocation Strategy

      26,790,663         25,719,354   

Growth Allocation Strategy

      16,752,736         28,752,167   

Moderate Allocation Strategy

      24,934,734         76,088,231   

 

* For the period December 1, 2015 to March 31, 2016.

 

6. Federal Income Tax Information

The following information is presented on an income tax basis and takes into consideration differences between amounts for financial statement and income tax purposes. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature (i.e., foreign currency transactions and return of capital on securities) such amounts are reclassified within the composition of net assets based on their U.S. federal tax-basis treatment; temporary differences do not require reclassification.

The effects of certain differences reclassified as of March 31, 2016 were as follows:

     Paid in
Capital		     Accumulated
Net Realized
Gain (Loss)		     Undistributed
Net Investment
Income (Loss)		  

Aggressive Growth Stock Fund

    $ (469,283 )      $—        $469,283   

Capital Innovations Global Resources and Infrastructure Fund

      (223,648 )      40,109        183,539   

International Equity Fund

      —        124,840        (124,840 ) 

Large Cap Growth Stock Fund

      (743,567 )      —        743,567   

Mid-Cap Value Equity Fund

      (15,790 )      621,881        (606,091 ) 

Small Cap Growth Stock Fund

      (987,184 )      1,167        986,017   

Small Cap Value Equity Fund

      —        1,217,953        (1,217,953 ) 

Aggressive Growth Allocation Strategy

      —        (12,249 )      12,249   

Conservative Allocation Strategy

      —        (38,860 )      38,860   

Growth Allocation Strategy

      —        (57,387 )      57,387   

Moderate Allocation Strategy

      —        (59,578 )      59,578   

The cost of investments and aggregate gross unrealized appreciation and depreciation for securities held by the Funds as of March 31, 2016 were as follows:

 

Fund

    Tax Cost      Aggregate
Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net Unrealized
Appreciation
(Depreciation)		  

Aggressive Growth Stock Fund

      $17,209,030         $10,859,215         $(1,839,367 )      $9,019,848   

Capital Innovations Global Resources and Infrastructure Fund

      3,589,788         202,298         (405,792 )      203,494   

International Equity Fund

      40,272,673         1,947,596         (765,712 )      1,181,884   

 

75

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Fund

    Tax Cost      Aggregate Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net Unrealized
Appreciation
(Depreciation)		  

Large Cap Growth Stock Fund

      $138,319,815         $119,898,655         $(5,567,454 )      $114,331,201   

Large Cap Value Equity Fund

      1,788,053,491         363,101,198         (47,252,407 )      315,848,791   

Mid-Cap Value Equity Fund

      3,322,126,297         318,389,892         (118,988,287 )      199,401,605   

Small Cap Growth Stock Fund

      54,913,826         9,711,036         (4,940,105 )      4,770,931   

Small Cap Value Equity Fund

      804,926,531         200,233,428         (46,649,615 )      153,583,813   

Aggressive Growth Allocation Strategy

      6,183,497         1,052,598         (71,108 )      981,490   

Conservative Allocation Strategy

      63,521,834         1,800,763         (543,862 )      1,256,901   

Growth Allocation Strategy

      43,023,122         5,562,116         (507,880 )      5,054,236   

Moderate Allocation Strategy

      61,927,611         7,853,975         (496,485 )      7,357,490   

The tax character of distributions paid to shareholders during the period or fiscal year ended March 31, 2016 was as follows:

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

Aggressive Growth Stock Fund

      $—         $2,095,754         $—         $—         $2,095,754   

Capital Innovations Global Resources and Infrastructure Fund

      82,228         —         —         —         82,228   

International Equity Fund

      144,980         2,000,010         —         —         2,144,990   

Large Cap Growth Stock Fund

      —         23,322,257         —         —         23,322,257   

Large Cap Value Equity Fund

      30,971,375         172,233,852         —         —         203,205,227   

Mid-Cap Value Equity Fund

      113,394,437         125,921,077         —         —         239,315,514   

Small Cap Growth Stock Fund

      —         21,567,281         —         —         21,567,281   

Small Cap Value Equity Fund

      15,453,362         246,896,505         —         —         262,349,867   

Aggressive Growth Allocation Strategy

      95,850         1,657,102         —         —         1,752,952   

Conservative Allocation Strategy

      952,544         1,610,853         —         —         2,563,397   

Growth Allocation Strategy

      689,495         3,848,880         —         —         4,538,375   

Moderate Allocation Strategy

      1,314,012         10,251,561         —         —         11,565,573   

 

* Total distributions paid are recognized on a when declared basis for the period or fiscal year ended March 31, 2016.
** Net Investment income includes taxable market discount income and net short-term capital gains, if any.

Amounts designated as “—” are $0 or have been rounded to $0.

The tax character of distributions paid to shareholders during the period or fiscal year ended March 31, 2015 was as follows:

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

Aggressive Growth Stock Fund

      $—         $1,294,356         $—         $—         $1,294,356   

International Equity Fund

      467,780         2,269,103         —         —         2,736,883   

Large Cap Growth Stock Fund

      2,744,037         19,617,946         —         —         22,361,983   

Large Cap Value Equity Fund

      88,513,542         126,834,813         —         —         215,348,355   

Mid-Cap Value Equity Fund

      225,539,947         171,610,800         —         —         397,150,747   

Small Cap Growth Stock Fund

      2,542,173         21,385,596         —         —         23,927,769   

Small Cap Value Equity Fund

      25,139,745         227,729,507         —         —         252,869,252   

Aggressive Growth Allocation Strategy

      337,523         2,101,925         —         —         2,439,448   

Conservative Allocation Strategy

      1,368,516         1,403,606         —         —         2,772,122   

Growth Allocation Strategy

      1,301,918         2,801,375         —         —         4,103,293   

Moderate Allocation Strategy

      2,783,658         6,465,824         —         —         9,249,482   

 

* Total distributions paid are recognized on a when declared basis for the year ended March 31, 2015.
** Net Investment income includes taxable market discount income and net short-term capital gains, if any.

Amounts designated as “—” are $0 or have been rounded to $0.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

The tax character of distributions paid to shareholders during the fiscal years ended November 30 were as follows:

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

Capital Innovations Global Resources and Infrastructure Fund***

      $136,051         $—         $—         $—         $136,051   

Capital Innovations Global Resources and Infrastructure Fund****

      76,036         17,208           —         47,976         141,220   

 

* Total distributions paid are recognized on a when declared basis for the fiscal years ended November 30, 2015 and 2014, respectively.
** Net Investment income includes taxable market discount income and net short-term capital gains, if any.
*** Fiscal year ended November 30, 2015.
**** Fiscal year ended November 30, 2014.

Amounts designated as “—” are $0 or have been rounded to $0.

As of March 31, 2016, the components of distributable earnings (accumulated losses) on a federal income tax basis were as follows:

 

Fund

   Undistributed
Tax Exempt
Income		     Undistributed
Ordinary
Income		     Undistributed
Long Term
Capital Gains		     Net Unrealized
Appreciation
(Depreciation)*		     Loss
Carryforwards
and Deferrals		     Total  

Aggressive Growth Stock Fund

     $—        $—        $1,894,557        $9,019,851        $(1,451,938)        $9,462,470   

Capital Innovations Global Resources and Infrastructure Fund

     —        82,904        —        (203,490 )      (892,311 )      (1,012,897 ) 

International Equity Fund

     —        225,035        335,989        1,188,590        (1,649,094 )      100,520   

Large Cap Growth Stock Fund

     —        —        3,766,399        114,331,200        (1,832,824 )      116,264,775   

Large Cap Value Equity Fund

     —        5,948,067        —        315,848,792        (49,248,431 )      272,548,428   

Mid-Cap Value Equity Fund

     —        10,529,606        —        199,401,606        (42,719,379 )      167,211,833   

Small Cap Growth Stock Fund

     —        —        2,614,535        4,770,935        (82,837 )      7,302,633   

Small Cap Value Equity Fund

     —        1,382,858        —        153,585,376        (22,866,869 )      132,101,365   

Aggressive Growth Allocation Strategy

     —        —        416,887        981,490        —        1,398,377   

Conservative Allocation Strategy

     —        125,027        161,228        1,256,903        —        1,543,158   

Growth Allocation Strategy

     —        14,594        1,947,694        5,054,237        —        7,016,525   

Moderate Allocation Strategy

     —        62,875        2,340,616        7,357,493        —        9,760,984   

 

* The differences between book-basis and tax-basis unrealized appreciation is attributable primarily to: tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains/losses on investments in passive foreign investment companies, return of capital adjustments, forward contracts marked to market and partnership basis adjustments.

The Funds utilize the provisions of the federal income tax laws that provide for the carry forward of capital losses from prior years, offsetting such losses against any future realized capital gains. Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized in taxable years beginning after December 22, 2010 (“post-enactment”), may be carried forward indefinitely, and their character is retained as short-term and/or long-term losses. Previously, net capital losses were carried forward for eight years and treated as short-term losses (“pre-enactment”). The Act requires that post-enactment net capital losses be used before pre-enactment net capital losses.

As of March 31, 2016, the post-enactment accumulated short-term and long-term capital loss carry forwards were as follows:

 

Fund

    Short Term      Long Term      Total  

Aggressive Growth Stock Fund*

      $—         $—         $—   

Capital Innovations Global Resources and Infrastructure Fund

      661,695         166,419         828,114   

 

* Of the $363,926 of remaining capital loss carryforwards acquired on April 27, 2012, in the merger with the RidgeWorth Emerging Growth Stock Fund and subject to limitations as a result of this acquisition, the entire amount was utilized.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

As of March 31, 2016, the pre-enactment accumulated capital loss carryforwards and expiration dates were as follows:

 

Fund

    Expiring
2017		      Expiring
2018		      Total  

Aggressive Growth Stock Fund*

    $ 1,372,837         $—       $ 1,372,837   

International Equity Fund**

      —         1,649,094         1,649,094   

Large Cap Growth Stock Fund***

      1,639,873         —         1,639,873   

 

* Of the $1,600,850 of remaining capital loss carryforwards acquired on April 27, 2012, in the merger with the RidgeWorth Emerging Growth Stock Fund and subject to limitations as a result of this acquisition, $228,013 was utilized. The remaining $1,372,837 will expire in 2017.
** Of the $2,473,641 of remaining capital loss carryforwards subject to limitations due to an ownership change on May 22, 2013, $824,547 was utilized, and the remaining $1,649,094, will expire in 2018.
*** Of the $3,279,747 of remaining capital loss carryforwards acquired on March 1, 2013, in the merger with the RidgeWorth Large Cap Core Growth Stock Fund and subject to limitations as a result of this acquisition, $1,639,874 was utilized, and the remaining $1,639,873, will expire in 2017.

Capital loss carryforwards may be applied to offset future realized capital gains and therefore may reduce future capital gain distributions.

During the fiscal year ended March 31, 2016, the following Funds utilized capital loss carry forwards as follows:

 

Fund

    Amount  

Aggressive Growth Stock Fund

      $591,939   

International Equity Fund

      824,547   

Large Cap Growth Stock Fund

      1,639,874   

Net capital losses incurred after October 31, and within the taxable year are deemed to arise on the first business day of the Funds’ next fiscal year. During the fiscal year ended March 31, 2016, the following Funds had net capital losses:

 

Fund

    Short Term      Long Term     Total  

Large Cap Value Equity Fund

      $76,570,240         $(27,321,809 )      $49,248,431   

Mid-Cap Value Equity Fund

      57,488,324         (14,768,945 )      42,719,379   

Small Cap Value Equity Fund

      9,263,579         13,603,290        22,866,869   

Pursuant to federal income tax rules applicable to regulated investment companies, the Funds may elect to treat certain capital losses, between November 1 and March 31, and late year ordinary losses (i) ordinary losses between January 1 and March 31, and (ii) specified ordinary and currency losses between November 1 and March 31 as occurring on the first day of the following tax year. For the period or fiscal year ended March 31, 2016, any amount of losses elected as late year ordinary losses within the tax return will not be recognized for federal income tax purposes until April 1, 2016.

 

7. Investments in Affiliated Issuers

Affiliated holdings are holdings in mutual funds which are managed by the Investment Adviser or an affiliate of the Investment Adviser or which are distributed by an affiliate of the Funds’ distributor. An investment by a Fund representing greater than 10% of the voting securities of an issuer makes that issuer an affiliated holding of the Fund. With respect to each Fund, the Investment Adviser was paid an investment advisory fee by the affiliated investments listed beneath its name below. Investments in affiliated issuers as of March 31, 2016 were as follows:

 

Name of Affiliated Issuer

   Share
Balance at
March 31,
2015		     Purchases     Sales     Share
Balance at
March 31,
2016		     Value at
March 31,
2016		     Dividend
Income		     Realized
Gain
Distributions		     Net Realized
Gain (Loss)		  

Aggressive Growth Allocation Strategy

  

RidgeWorth Intermediate Bond Fund* — I Shares

     30        0        30        —        $—        $1        $2        $—   

RidgeWorth International Equity Fund — I Shares

     53,242        7,061        60,303        —        —        3,482        —        (703 ) 

RidgeWorth International Equity Fund — IS Shares**

     —        64,628        27,650        36,978        344,261        —        48,387        (37,554 ) 

RidgeWorth Large Cap Growth Stock Fund — IS Shares

     289,497        49,375        110,429        228,443        2,145,082        —        192,051        34,757   

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Name of Affiliated Issuer

   Share
Balance at
March 31,
2015		     Purchases     Sales     Share
Balance at
March 31,
2016		     Value at
March 31,
2016		     Dividend
Income		     Realized
Gain
Distributions		     Net Realized
Gain (Loss)		  

RidgeWorth Large Cap Value Equity Fund — IS Shares

     119,178        26,918        47,184        98,912        $1,460,925        $29,221        $132,026        $113,046   

RidgeWorth Mid-Cap Value Equity Fund — IS Shares

     64,981        6,848        25,787        46,042        569,076        10,140        34,529        73,268   

RidgeWorth Seix Core Bond Fund*† — I Shares

     —        31        31        —        —        1        —        (8 ) 

RidgeWorth Seix Core Bond Fund*† — IS Shares**

     —        28        —        28        307        4        1        —   

RidgeWorth Seix Corporate Bond Fund† — I Shares

     7,013        1,601        5,499        3,115        26,354        1,092        510        (1,993 ) 

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     5,709        965        5,651        1,023        8,522        1,604        —        (2,152 ) 

RidgeWorth Seix High Income Fund† — IS Shares

     5,686        1,250        5,452        1,484        8,784        1,757        —        (5,113 ) 

RidgeWorth Seix High Yield Fund — I Shares

     4,347        922        4,155        1,114        8,689        1,583        —        (6,054 ) 

RidgeWorth Seix Total Return Bond Fund† — IS Shares

     65,453        12,150        40,496        37,107        395,935        13,967        692        (8,058 ) 

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond† Fund — I Shares

     5,014        5,016        3,564        6,466        64,857        401        —        (131 ) 

RidgeWorth Small Cap Growth Stock Fund — IS Shares

     25,991        12,054        22,545        15,500        132,837        —        96,911        (15,565 ) 

RidgeWorth Small Cap Value Equity Fund — I Shares

     22,908        8,229        18,692        12,445        140,623        3,743        68,796        31,686   
         

 

 

    

 

 

    

 

 

    

 

 

  

Total

             $5,306,252        $66,996        $573,905        $175,426   
         

 

 

    

 

 

    

 

 

    

 

 

  

Conservative Allocation Strategy

  

RidgeWorth Intermediate Bond Fund* — I Shares

     846        11        857        —        $—        $12        $80        $—   

RidgeWorth International Equity Fund — I Shares

     140,074        25,848        165,922        —        —        10,607        —        (818 ) 

RidgeWorth International Equity Fund — IS Shares**

     —        198,489        65,056        133,433        1,242,262        —        152,302        (137,970 ) 

RidgeWorth Large Cap Growth Stock Fund — IS Shares

     800,484        132,202        101,616        831,070        7,803,743        —        636,015        (124,270 ) 

RidgeWorth Large Cap Value Equity Fund — IS Shares

     336,060        68,026        42,949        361,137        5,333,996        96,687        436,844        (42,662)   

RidgeWorth Mid-Cap Value Equity Fund — IS Shares

     170,731        26,525        31,106        166,150        2,053,609        33,542        114,209        (26,227)   

RidgeWorth Seix Core Bond Fund*† — I Shares

     —        859        859        —        —        13        —        —   

RidgeWorth Seix Core Bond Fund*† — IS Shares**

     —        787        —        787        8,551        99        21        —   

RidgeWorth Seix Corporate Bond Fund† — I Shares

     237,896        25,071        136,728        126,239        1,067,983        42,840        24,076        (55,492 ) 

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     193,727        21,265        172,888        42,104        350,728        63,140        —        (108,553)   

RidgeWorth Seix High Income Fund† — IS Shares

     193,100        27,916        159,662        61,354        363,213        69,966        —        (162,280)   

RidgeWorth Seix High Yield Fund — I Shares

     147,635        20,333        121,911        46,057        359,242        63,012        —        (183,328)   

RidgeWorth Seix Total Return Bond Fund† — IS Shares

     2,456,217        329,786        1,074,353        1,711,650        18,263,309        539,379        26,748        (310,576)   

 

79

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Name of Affiliated Issuer

   Share
Balance at
March 31,
2015		     Purchases     Sales     Share
Balance at
March 31,
2016		     Value at
March 31,
2016		     Dividend
Income		     Realized
Gain
Distributions		     Net Realized
Gain (Loss)		  

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund† — I Shares

     170,248        145,834        51,328        264,754        $2,655,483        $16,383        $—        $(1,739)   

RidgeWorth Small Cap Growth Stock Fund — IS Shares

     65,213        39,002        48,348        55,867        478,779        —        304,420        (303,895)   

RidgeWorth Small Cap Value Equity Fund — I Shares

     59,404        26,957        41,400        44,961        508,059        11,811        217,075        (130,297)   
         

 

 

    

 

 

    

 

 

    

 

 

  

Total

             $40,488,957        $947,491        $1,911,790        $(1,588,107 ) 
         

 

 

    

 

 

    

 

 

    

 

 

  

Growth Allocation Strategy

  

RidgeWorth Intermediate Bond Fund* — I Shares

     278        4        282        —        $—        $3        $27        $—   

RidgeWorth International Equity Fund — I Shares

     293,689        28,393        322,082        —        —        20,485        —        (5,715)   

RidgeWorth International Equity Fund — IS Shares**

     —        353,642        128,174        225,468        2,099,109        —        288,805        (287,246)   

RidgeWorth Large Cap Growth Stock Fund — IS Shares

     1,670,450        153,903        426,769        1,397,584        13,123,311        —        1,139,700        (112,681)   

RidgeWorth Large Cap Value Equity Fund — IS Shares

     699,500        88,135        181,177        606,458        8,957,381        173,293        782,957        219,700   

RidgeWorth Mid-Cap Value Equity Fund — IS Shares

     358,060        30,855        108,444        280,471        3,466,626        60,098        204,628        157,668   

RidgeWorth Seix Core Bond Fund*† — I Shares

     —        282        282        —        —        4        —        (3)   

RidgeWorth Seix Core Bond Fund*† — IS Shares**

     —        259        —        259        2,809        33        7        —   

RidgeWorth Seix Corporate Bond Fund† — I Shares

     85,827        5,812        57,749        33,890        286,706        13,819        7,114        (23,413)   

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     69,713        5,150        63,666        11,197        93,273        20,550        —        (22,900)   

RidgeWorth Seix High Income Fund† — IS Shares

     69,443        6,483        59,409        16,517        97,783        22,444        —        (56,858)   

RidgeWorth Seix High Yield Fund — I Shares

     53,114        4,538        45,384        12,268        95,690        20,215        —        (11,434)   

RidgeWorth Seix Total Return Bond Fund† — IS Shares

     884,055        80,020        504,960        459,115        4,898,755        169,711        7,986        (88,683)   

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund† — I Shares

     61,330        41,735        32,174        70,891        711,041        5,061        —        (820)   

RidgeWorth Small Cap Growth Stock Fund — IS Shares

     136,435        63,332        105,826        93,941        805,071        —        545,542        (305,935)   

RidgeWorth Small Cap Value Equity Fund — I Shares

     124,172        42,872        91,276        75,768        856,181        21,190        389,433        24,908   
         

 

 

    

 

 

    

 

 

    

 

 

  

Total

             $35,493,736        $526,906        $3,366,199        $(513,412 ) 
         

 

 

    

 

 

    

 

 

    

 

 

  

Moderate Allocation Strategy

  

RidgeWorth Intermediate Bond Fund* — I Shares

     1,377        14        1,391        —        $—        $23        $93        $(173 ) 

RidgeWorth International Equity Fund — I Shares

     414,134        22,765        436,899        —        —        27,776        —        (7,576)   

RidgeWorth International Equity Fund — IS Shares**

     —        467,590        237,917        229,673        2,138,257        —        275,495        (289,608)   

RidgeWorth Large Cap Growth Stock Fund — IS Shares

     2,366,578        132,781        1,071,982        1,427,377        13,403,070        —        1,107,166        523,909   

 

80

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Name of Affiliated Issuer

   Share
Balance at
March 31,
2015		     Purchases     Sales     Share
Balance at
March 31,
2016		     Value at
March 31,
2016		     Dividend
Income		     Realized
Gain
Distributions		     Net Realized
Gain (Loss)		  

RidgeWorth Large Cap Value Equity Fund — IS Shares

     994,919        77,447        452,506        619,860        $9,155,333        $168,382        $760,768        $1,766,551   

RidgeWorth Mid-Cap Value Equity Fund — IS Shares

     505,509        26,254        246,191        285,572        3,529,675        58,414        198,894        786,007   

RidgeWorth Seix Core Bond*† — I Shares

     —        998        998        —        —        15        —        —   

RidgeWorth Seix Core Bond*† — IS Shares**

     —        981        277        704        7,647        93        19        (159)   

RidgeWorth Seix Corporate Bond Fund† — I Shares

     307,648        25,590        242,128        91,110        770,788        44,567        18,248        (86,217)   

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     250,415        24,983        244,851        30,547        254,453        66,230        —        (27,580)   

RidgeWorth Seix High Income Fund† — IS Shares

     249,423        30,830        235,552        44,701        264,632        71,150        —        (176,895)   

RidgeWorth Seix High Yield Fund — I Shares

     190,705        23,092        180,525        33,272        259,521        63,922        —        (4,743)   

RidgeWorth Seix Total Return Bond Fund† — IS Shares

     3,177,401        185,706        2,128,399        1,234,708        13,174,330        498,573        15,438        203,257   

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund† — I Shares

     220,114        138,624        167,538        191,200        1,917,741        15,541        —        494   

RidgeWorth Small Cap Growth Stock Fund — IS Shares

     192,129        59,070        155,065        96,134        823,866        —        530,718        (81,527)   

RidgeWorth Small Cap Value Equity Fund — I Shares

     172,283        39,472        134,443        77,312        873,622        20,568        378,003        348,917   
         

 

 

    

 

 

    

 

 

    

 

 

  

Total

             $46,572,935        $1,035,254        $3,284,842        $2,954,658   
         

 

 

    

 

 

    

 

 

    

 

 

  

 

* On August 1, 2015, RidgeWorth Intermediate Bond Fund reorganized into RidgeWorth Seix Core Bond Fund.
** IS Shares commenced operations on August 3, 2015 for Seix Core Bond Fund and September 1, 2015 for International Equity Fund.
† On August 1, 2015, affiliated fixed income funds were rebranded from “RidgeWorth” to “RidgeWorth Seix”.

 

8. Reorganizations

On November 18, 2014, the Board approved the reorganization of the RidgeWorth Select Large Cap Growth Fund (the “Target Fund”) into the RidgeWorth Large Cap Growth Stock Fund (the “Acquiring Fund”), a separate series of the Trust. On January 26, 2015 the Acquiring Fund acquired all of the net assets of the Target Fund in a tax-free exchange of shares. The purpose of the transaction was to combine two portfolios with comparable investment objectives and strategies.

 

Target Fund

    Shares Prior to
Reorganization		      Shares Issued
by the
Acquiring
Fund		      Net Assets
Prior to
Reorganization		  

I Shares

      180,651         387,177         $3,780,324   

A Shares

      19,446         46,639         386,118   

C Shares

      864,356         2,121,925         12,809,849   

The appreciation (depreciation) of the acquired fund was $5,729,275 as of the date of the merger.

The combined net assets of the Acquiring Fund immediately after the reorganization were $287,227,781.

 

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NOTES TO FINANCIAL STATEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Assuming the acquisition had been completed on April 1, 2014, the beginning of the reporting period of the Acquiring Fund, the Acquiring Fund’s pro forma results of operations for the fiscal year ended March 31, 2015 were as follows:

 

Net Investment Income (Loss)

    $ (645,883 ) 

Net Realized and Unrealized Gains/Losses on Investments

    $ 40,828,634   

Net Increase/Decrease in Net Assets resulting from Operations

    $ 40,182,751   

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Target Fund that has been included in the Acquiring Fund’s Statement of Operations as of March 31, 2015.

Effective the close of business on February 19, 2016, Capital Innovations Global Resources and Infrastructure Fund, a new series of the Trust, acquired the assets and assumed the liabilities of the Predecessor Fund, a series of Investment Managers Series Trust. As part of the reorganization there was a change to the independent registered public accounting firm. The reorganization was accomplished by the following tax-free reorganization in which each shareholder of the Predecessor Fund received the same aggregate share net asset value in the corresponding classes as noted below:

 

     Shares Issued      Net Assets  

I Shares

      224,274         $1,806,342   

A Shares

      127,824         1,028,373   

C Shares

      24,776         196,668   

The appreciation (depreciation) of the Predecessor Fund was $588,102 as of the date of the acquisition.

The undistributed net investment income of the Predecessor Fund was $18,436 as of the date of the acquisition.

 

9. Recently Issued Accounting Pronouncements

In May 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-07 Disclosure for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent). The amendments in ASU No. 2015-07 remove the requirement to categorize within the fair value hierarchy investments measured using the net asset value per share (“NAV”) practical expedient. The ASU also removes certain disclosure requirements for investments that qualify, but do not utilize, the NAV practical expedient. The amendments in the ASU are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Management is currently evaluating the impact these changes will have on the Fund’s financial statements and related disclosures.

 

10. Subsequent Events

Management has evaluated subsequent events through the date these financial statements were available to be issued. Management has determined that there are no material events that would require disclosure in the Funds’ financial statements through this date.

 

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

RIDGEWORTH FUNDS    March 31, 2016

 

To the Board of Trustees and Shareholders of RidgeWorth Funds:

In our opinion, the accompanying statements of assets and liabilities, including the schedules of portfolio investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Aggressive Growth Stock Fund, Capital Innovations Global Resources and Infrastructure Fund, International Equity Fund, Large Cap Growth Stock Fund, Large Cap Value Equity Fund, Mid-Cap Value Equity Fund, Small Cap Growth Stock Fund, Small Cap Value Equity Fund, Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy, and Moderate Allocation Strategy (twelve of the funds constituting RidgeWorth Funds, collectively the “Funds”) at March 31, 2016, the results of their operations for the periods then ended, the changes in their net assets and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at March 31, 2016 by correspondence with the custodian, transfer agent and brokers, and application of alternative auditing procedures where securities purchased had not been received, provide a reasonable basis for our opinion.

The statements of operations and of changes in net assets and the financial highlights of the Capital Innovations Global Resources and Infrastructure Fund for the year or periods ended on November 30, 2015 and prior were audited by another independent registered public accounting firm whose report dated January 29, 2016 expressed an unqualified opinion on those statements and financial highlights.

PricewaterhouseCoopers LLP

Boston, Massachusetts

May 26, 2016

 

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OTHER FEDERAL TAX INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

The following Funds have designated long term capital gain distributions as follows:

 

Fund

    Amount  

Aggressive Growth Stock Fund

      $2,095,754   

International Equity Fund

      2,000,010   

Large Cap Growth Stock Fund

      23,322,257   

Large Cap Value Equity Fund

      172,233,852   

Mid-Cap Value Equity Fund

      125,921,077   

Small Cap Growth Stock Fund

      21,567,281   

Small Cap Value Equity Fund

      246,896,505   

Aggressive Growth Allocation Strategy

      1,657,102   

Conservative Allocation Strategy

      1,610,853   

Growth Allocation Strategy

      3,848,880   

Moderate Allocation Strategy

      10,251,561   

For corporate shareholders, the following percentages of the total ordinary income distributions paid by the following Funds during the fiscal year ended March 31, 2016 qualify for the corporate dividends received deductions:

 

Fund

    Dividend Received
Deduction		  

Large Cap Value Equity Fund

      95.60 % 

Capital Innovations Global Resources and Infrastructure Fund

     
 79.95
   

Mid-Cap Value Equity Fund

      48.17   

Small Cap Value Equity Fund

      100.00   

Aggressive Growth Allocation Strategy

     54.09   

Conservative Allocation Strategy

     15.51   

Growth Allocation Strategy

     40.78   

Moderate Allocation Strategy

     22.75   

In addition, the Funds may elect to pass through foreign taxes paid by the Funds to shareholders under Section 853 of the Internal Revenue Code. For the fiscal year ended March 31, 2016 the following funds elected to pass through foreign taxes as follows:

 

Fund

    Amount  

International Equity Fund

      $58,858   

Aggressive Growth Allocation Strategy

     8,353   

Conservative Allocation Strategy

     26,092   

Growth Allocation Strategy

     48,919   

Moderate Allocation Strategy

     56,669   

For the fiscal year ended March 31, 2016, the following Funds paid qualified dividend income:

 

Fund

    Qualified Dividend
Income		  

International Equity Fund

      100.00 % 

Capital Innovations Global Resources and Infrastructure Fund

      100.00   

Large Cap Value Equity Fund

      97.32   

Mid-Cap Value Equity Fund

      50.98   

Small Cap Value Equity Fund

      100.00   

Aggressive Growth Allocation Strategy

     73.08   

Conservative Allocation Strategy

     24.52   

Growth Allocation Strategy

     66.63   

Moderate Allocation Strategy

     39.24   

 

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OTHER FEDERAL TAX INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

The following RidgeWorth Funds intend to elect to pass through to shareholders the income tax credit for taxes paid to foreign countries for the fiscal year ended March 31, 2016.

 

Fund

    Foreign
Source
Income		      Foreign
Tax
Expense		  

International Equity Fund

      $617,915         $58,858   

Aggressive Growth Allocation Strategy

     32,642         8,353   

Conservative Allocation Strategy

     99,496         26,092   

Growth Allocation Strategy

     190,223         48,919   

Moderate Allocation Strategy

     229,043         56,669   

 

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Set forth below are the names, age, position with the Trust, length of term of office, and the principal occupations and, if applicable, other directorships held during at least the last five years of each of the persons currently serving as a Trustee or officer of the Trust. Unless otherwise noted, the address of each Trustee and officer is c/o RidgeWorth Investments®, 3333 Piedmont Road, Suite 1500, Atlanta, Georgia 30305. The Funds’ Statement of Additional Information includes more information about the Trustees and is available without charge, upon request, by calling 1-888-784-3863 and on the Funds’ website at www.ridgeworth.com.

 

Name and Age   Position
Held
with the
Trust		   Term of Office
and Length of
Time Served		  

Principal Occupation(s)

During the Past 5 Years

   Number of
Portfolios
in the RidgeWorth
Complex
Overseen by
Trustees		     Other Directorships Held By
Trustee During the Past 5 Years

INDEPENDENT TRUSTEE

        

Tim E. Bentsen

(August 1953)

   Trustee   Indefinite; since 2012   Lecturer—J.M. Tull School of Accounting, Terry College of Business at University of Georgia (2013-Present); Retired. Audit Partner and Account Executive (1993-2012); Lead Area Managing Partner (2005-2009); Atlanta Office Managing Partner (2003-2009), KPMG LLP.     29      Synovus Financial Corp.: Krispy Kreme Doughnuts, Inc.

Jeffrey M. Biggar

(February 1950)

   Trustee   Indefinite; since 2007   Director of Special Gifts for Hawken School (since May 2013); Managing Director, Little Mountain Group, LLC (an independent Registered Investment Advisor consulting firm) (2011-2013); Chief Operating Officer, Cedar Brook Financial Partners LLC (2008-2010); Chief Executive Officer and Senior Managing Director, Sterling (National City Corp.) (2000-2006).     29     

Multi-Manager

Master Portfolios LLC (3 portfolios; thru 2013)

George C. Guynn

(December 1942)

   Trustee   Indefinite; since 2008   Retired. President and CEO, Federal Reserve Bank of Atlanta (1996-2006).     29      SUSA Registered Fund, LLC; Oxford Industries; Acuity Brands, Inc. (thru 2014); Multi-Manager Master Portfolios LLC (3 portfolios; thru 2013); Genuine Parts Company (thru 2015)

Sidney E. Harris

(July 1949)

   Trustee   Indefinite; since 2004   Professor and Dean Emeritus (since April 2015), Professor (1997-2014), Dean (1997-2004), J. Mack Robinson College of Business, Georgia State University.     29      Total System Services, Inc.; Multi-Manager Master Portfolios LLC (3 portfolios; thru 2013).

Connie D. McDaniel

(April 1958)

   Trustee   Indefinite; since 2005   Retired. Vice President, Chief of Internal Audit, Corporate Audit Department (2009-2013); Vice President Global Finance Transformation (2007-2009); Vice President and Controller (1999-2007), The Coca-Cola Company.     29      Total System Services, Inc.

INTERESTED TRUSTEE

        

Ashi S. Parikh*

(February 1966)

  

Trustee

   Indefinite; since 2013   Chief Executive Officer and Chief Investment Officer, RidgeWorth Investments (2010-present); President and Chief Investment Officer (2008-2010).     29      None

 

* Mr. Parikh is an “interested person” of the Trust, as defined in the 1940 Act, because he is an employee of the Investment Adviser.

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Name, Address

and Age

   Position(s) Held with
the Trust		   Term of Office
and Length of
Time Served		  

Principal Occupation(s)

During the Past 5 Years

Julia R. Short

(November 1972)

   President and Chief Executive
Officer		   One year;
since 2007		   Managing Director, Product Manager, RidgeWorth Investments (since 2004).

James L. Love

(December 1968)

   Chief Compliance Officer   One year;
since 2016		   Managing Director and Chief Compliance Officer, RidgeWorth Investments (since 2016); Chief Compliance Officer and Deputy General Counsel, U.S. Global Investors (2007–2015).

Benjamin H. Lowe

(March 1978)

   Treasurer
and Chief Financial
Officer		   One year;
since 2015		  

Director of Fund Administration, RidgeWorth Investments (since 2011);

Fund Controller, ALPS Fund Services, Inc. (2005–2011).

James Bacik

State Street Bank and Trust Co.

1 Iron Street

Boston, MA 02210

(May 1975)

   Assistant Treasurer   One year;
since 2010		   Vice President, State Street Bank and Trust Company (since 2001).*

Patrick J. Keniston Foreside Fund Officer Services, LLC

Three Canal Plaza, Suite 100

Portland, ME 04101

(January 1964)

   Anti-Money Laundering Officer and Identity
Theft
Prevention Officer		   One year;
since 2013		   Managing Director, Foreside Fund Officer Services, LLC (October 2008 – present).

Karen Jacoppo-Wood

State Street Bank and Trust Company

100 Huntington Avenue

Tower 2, Third Floor,

CPH0326

Boston, MA 02116

(December 1966)

   Secretary and Chief Legal Officer   One year;
since 2014		   Vice President and Managing Counsel, State Street Bank and Trust Company (since 2014); Vice President, RMR Advisors, Inc./RMR Funds (2007–2014).*

 

* During the period indicated the officer has held various positions at State Street Bank and Trust Company and has provided his or her current title.

 

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APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Renewal of Advisory and Subadvisory Agreements

The continuance of the Trust’s investment advisory agreement with RidgeWorth Capital Management LLC (the “Adviser”) and subadvisory agreements between the Adviser and each of Ceredex Value Advisors LLC, Silvant Capital Management LLC, and Zevenbergen Capital Investments LLC (collectively, the “Subadvisers”) must be specifically approved at least annually by (i) the vote of the Trustees or a vote of the shareholders of the Funds and (ii) the vote of a majority of the Trustees who are not parties to the agreements or “interested persons” of any party thereto (the “Independent Trustees”), as defined in the Investment Company Act of 1940 (the “1940 Act”), cast in person at a meeting called for the purpose of voting on such approval. New advisory agreements for the Trust are also subject to such approval initially and annually after their initial term is complete.

Each year, the Board of Trustees calls and holds a meeting to decide whether to approve the continuance of the Trust’s agreements for another year. In preparation for the meeting, the Board requests and reviews a wide variety of information from the Adviser and Subadvisers. The Trustees use this information, as well as other information that the Adviser, Subadvisers, and other service providers may submit to the Board, to help them decide whether to approve the agreements.

In considering the renewal of the agreements with the Adviser and Subadvisers, the Board requested and received material from the Adviser and Subadvisers in preparation for a special meeting of the Board held on October 8, 2015, and requested and reviewed additional material from the Adviser and Subadvisers in preparation for its quarterly meeting held on November 16-17, 2015, at which it specifically considered the renewal of the agreements. Such material included, among other things, information about: (a) the quality of the Adviser’s and Subadvisers’ investment management and other services; (b) the Adviser’s and Subadvisers’ investment management personnel; (c) the Adviser’s and Subadvisers’ operations and financial condition; (d) the Adviser’s and Subadvisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (e) the level of the advisory fees that the Adviser and Subadvisers charge the Funds compared with the fees they charge to comparable mutual funds or accounts; (f) the Funds’ overall fees and operating expenses compared with similar mutual funds; (g) the level of the Adviser’s and Subadvisers’ profitability from their Fund-related operations; (h) the Adviser’s and Subadvisers’ compliance systems; (i) the Adviser’s and Subadvisers’ policies and procedures for personal securities transactions; (j) the Adviser’s and Subadvisers’ reputation, expertise, and resources in domestic financial markets; and (k) the Funds’ performance compared with similar mutual funds. The Board also received a memorandum from fund counsel regarding the responsibilities of the Trustees in connection with their consideration of the agreements.

At the meetings, representatives from the Adviser and Subadvisers presented additional oral and written information to the Board to help the Board evaluate the Adviser’s and Subadvisers’ fees and other aspects of the agreements. The Board also considered information presented by the Adviser, Subadvisers, and other service providers at meetings held throughout the year. The Trustees discussed the written materials, oral presentations, and any other information that the Board received, and considered the approval of the agreements in light of this information.

Based on the Board’s deliberations and evaluation of the information it received, the Board, all of whose members are Independent Trustees, approved the renewal of the agreements with the Adviser and Subadvisers and determined that the compensation under the agreements is fair and reasonable in light of the services to be performed. The Board considered the following specific factors, none of which was controlling, and made the following conclusions:

Nature, Extent, and Quality of Services. The Board received and considered information regarding the nature, extent, and quality of services provided to the Funds by the Adviser and Subadvisers. In this regard, the Trustees evaluated, among other things, the Adviser’s and Subadvisers’ personnel, experience, track record, and compliance program. The Board considered the background and experience of the Adviser’s and Subadvisers’ senior management and the expertise of, and amount of attention given to the Funds by, their portfolio management teams. The Board reviewed the qualifications and backgrounds of the portfolio managers responsible for the day-to-day management of the Funds. The Board also reviewed information pertaining to the Adviser’s and Subadvisers’ organizational structure, senior management, investment operations, and other relevant information. The Board concluded that, within the context of its full deliberations, the nature, extent, and quality of the services provided to the Funds by the Adviser and Subadvisers supported the approval of the agreements.

 

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APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Performance. The Board considered the investment performance of each Fund, including any periods of outperformance and underperformance, both on an absolute basis and a comparative basis to indices and other funds within the same investment categories. Specifically, the Board considered Fund performance relative to peer groups and appropriate benchmarks in light of total return, yield, and market trends. As part of this review, the Board considered the composition of the peer group and selection criteria, as well as market risk and shareholder risk expectations. The Board considered the Adviser’s and Subadvisers’ explanations regarding specific performance issues. The Board concluded that, within the context of its full deliberations, the performance of the Funds, the Adviser, and the Subadvisers supported the approval of the agreements.

Fund Expenses. With respect to advisory fees, the Board considered the rate of compensation under the agreements and each Fund’s net operating expense ratio in comparison to those of comparable mutual funds. The Trustees also considered information about average expense ratios of comparable mutual funds in each Fund’s peer group. Finally, the Trustees considered the effect of the Adviser’s and Subadvisers’ waiver and reimbursement of fees and expenses, where applicable, to prevent total expenses from exceeding a specified amount and that, due to these waivers and reimbursements, net operating expenses have been maintained at competitive levels. The Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported the approval of the agreements.

Profitability. The Board reviewed information about the profitability of the Funds to the Adviser and Subadvisers and considered whether the level of profitability, if any, was reasonable and justified in light of the quality of the services rendered to the Funds. The Board concluded that, within the context of its full deliberations, the profitability of the Adviser and Subadvisers is within the range the Board considered reasonable.

Economies of Scale. The Board considered the existence of economies of scale and whether they were passed along to Fund shareholders through a graduated advisory fee schedule or other means, including any fee waivers and expense reimbursements by the Adviser and Subadvisers. The Board concluded that, within the context of its full deliberations, the Funds obtain reasonable benefit from economies of scale.

Approval of New Advisory and Subadvisory Agreements

At a meeting held on November 16-17, 2015, the Board of Trustees considered the proposed advisory agreement between RidgeWorth Capital Management LLC (the “Adviser”) and the Trust and the proposed subadvisory agreement between the Adviser and Capital Innovations LLC (the “Subadviser”), both with respect to the RidgeWorth Capital Innovations Global Resources and Infrastructure Fund (the “Fund”). After their initial two-year term, the agreements must be specifically approved at least annually by (i) the vote of the Trustees or a vote of the shareholders of the Fund and (ii) the vote of a majority of the Trustees who are not parties to the agreements or “interested persons” of any party thereto (the “Independent Trustees”), as defined in the Investment Company Act of 1940, cast in person at a meeting called for the purpose of voting on such approval. Each year after the initial two-year term, the Board will call and hold a meeting to decide whether to continue the agreements for an additional one-year term. In preparation for such meetings, the Board will request and review a wide variety of information from the Adviser and the Subadviser. The Trustees use this information, as well as other information that the Adviser, the Subadviser, and other service providers may submit to the Board, to help them decide whether to renew the agreements.

Prior to and at the November meeting at which the Trustees considered the agreements, the Board requested and reviewed materials from the Adviser and Subadviser to help the Trustees evaluate the proposed fees and other aspects of the agreements. The agreements were considered as part of the proposed reorganization of the Capital Innovations Global Agri, Timber, Infrastructure Fund (the “Predecessor Fund”) into the Fund, which was being proposed at the meeting as a new series of the Trust.

In considering whether to approve the agreements, the Board considered and discussed information and analysis provided by the Adviser and Subadviser. The Board considered all factors that it deemed to be relevant. In its deliberations, the Board did not identify any single factor that was paramount or controlling and individual Trustees may have attributed different weights to various factors. Certain factors considered by the Board are addressed in more detail below.

Nature, Extent, and Quality of Services. In considering the nature, extent, and quality of the services proposed to be provided by the Adviser and Subadviser, the Board reviewed the services to be provided and the qualifications and

 

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APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

backgrounds of the portfolio managers proposed to be responsible for managing the Fund. The Board also reviewed information set forth in the Subadviser’s Form ADV, which provides information about the firm, its management, and its business activities and affiliations. The Board considered the professional experience and qualifications of the Subadviser’s senior management and key professional personnel. The Board also considered the Subadviser’s operational capabilities and resources and its experience in managing investment portfolios. The Board noted that the Subadviser serves as subadviser to the Predecessor Fund and reviewed the Subadviser’s record in that role. The Board also noted that the Adviser serves as investment adviser to each series of the Trust and that its advisory agreement with respect to the existing series of the Trust also was being considered for renewal at the meeting. Based on its review, within the context of its full deliberations, the Board determined that it was satisfied with the nature, extent, and quality of services to be provided to the Fund by the Adviser and Subadviser.

Performance. In connection with the assessment of the Subadviser’s ability to perform its duties under the subadvisory agreement, the Board considered the sufficiency of its resources and concluded that the Subadviser had the financial resources necessary to perform its obligations under the agreement. The Board heard an overview of the Subadviser’s investment philosophy, the proposed portfolio construction of the assets of the Fund, and the investment techniques to be employed. The Board also reviewed the Subadviser’s investment performance with respect to the strategies proposed to be used in managing the Fund and the investment performance of the Subadviser with respect to its other accounts, including mutual funds and other pooled investment vehicles, and, specifically, the Predecessor Fund. The Board also assessed the Adviser’s ability to perform its duties under the advisory agreement, noting that the Adviser’s performance with respect to the other series of the Trust also was being assessed at the meeting. Based on its review, within the context of its full deliberations, the Board determined that it was satisfied with the information regarding the performance of the Adviser and the Subadviser.

Cost of Services. The Board considered the cost of the services to be provided by the Adviser and Subadviser, including estimated profitability analyses, and reviewed the fees to be paid pursuant to the agreements. In addition, the Board discussed the fee arrangement between the Adviser and the Subadviser, noting that the Adviser would pay the Subadviser out of the advisory fee it receives from the Fund. The Board also reviewed information regarding advisory fees of comparable funds and evaluated the proposed fee arrangement in light of this information and the factors that judicial decisions have specified as pertinent generally. The Board also considered the Adviser’s and the Subadviser’s contractual arrangement with the Fund to waive the advisory fee and/or reimburse expenses in an effort to control the expense ratio of the Fund, if necessary. Based on its review, within the context of its full deliberations, the Board determined that the fees proposed to be paid to the Adviser and Subadviser were fair and reasonable.

Economies of Scale. The Board considered the potential for economies of scale and noted that both the Adviser’s and the Subadviser’s fees include breakpoints.

Conclusion. Based on its deliberations and evaluation of the information described above, the Board, including the Independent Trustees, unanimously: (i) concluded that the terms of the agreements are fair and reasonable; (ii) concluded that the proposed compensation for the Adviser and Subadviser is fair and reasonable in light of the services that they will provide to the Fund; and (iii) agreed to approve the agreements for an initial term of two years.

 

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ADDITIONAL INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Shareholder Meeting Results

The Capital Innovations Global Agri, Timber, Infrastructure Fund (“Target Fund”), a series of Investment Managers Series Trust, reorganized into the RidgeWorth Capital Innovations Global Resources and Infrastructure Fund on February 19, 2016. As part of the reorganization there was a change to the independent registered public accounting firm. The Target Fund was audited by Tait, Weller & Baker LLP. RidgeWorth Capital Innovations Global Resources and Infrastructure Fund will be audited by PricewaterhouseCoopers LLP. A special meeting of shareholders of the Target Fund was held on February 17, 2016 at which shareholders were asked to approve the following:

Proposal: An Agreement and Plan of Reorganization providing for (i) the transfer of all of the assets of the Target Fund to the RidgeWorth Capital Innovations Global Resources and Infrastructure Fund (the “Acquiring Fund”), a newly created series of RidgeWorth Funds (the “Trust”), in exchange for (a) shares of each class of the Acquiring Fund corresponding to an outstanding class of shares of the Target Fund with an aggregate net asset value (“NAV”) equal to the aggregate NAV of the corresponding class of shares of the Target Fund, and (b) the Acquiring Fund’s assumption of all of the liabilities of the Target Fund, followed by (ii) the liquidating distribution by the Target Fund to its shareholders holding each class of its shares of the shares of the corresponding class of the Acquiring Fund in proportion to their respective holdings of shares of the applicable class of the Target Fund.

The proposal received the required number of affirmative votes for approval. The voting results are shown below.

 

Affirmative

Votes

  

Objecting

Votes

  

Abstaining

Votes

225,887.424

   50.000   184.831

Expense Examples

As a shareholder of the RidgeWorth Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases; and (2) ongoing costs, including management fees, 12b-1 distribution and/or service fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the RidgeWorth Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2015 through March 31, 2016.

Actual Expenses

The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

 

Fund

    Class      Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During  Period*
10/01/15-03/31/16		      Expense Ratio
During  Period**
10/01/15-03/31/16		  

Aggressive Growth Stock Fund

      I Shares         $1,000.00         $970.20         $6.45         1.31 % 
     A Shares         1,000.00         969.10         7.63         1.55   

Capital Innovations Global Resources and Infrastructure Fund***

      I Shares         1,000.00         930.70         4.12         1.28   
     A Shares         1,000.00         929.90         4.92         1.53   
     C Shares         1,000.00         927.60         7.32         2.28   

International Equity Fund

      I Shares         1,000.00         1,057.40         6.38         1.24   
     A Shares         1,000.00         1,055.80         7.56         1.47   
     IS Shares         1,000.00         1,058.50         5.87         1.14   

Large Cap Growth Stock Fund

      I Shares         1,000.00         1,030.00         4.92         0.97   
     A Shares         1,000.00         1,028.10         6.19         1.22   
     C Shares         1,000.00         1,025.30         9.62         1.90   
     IS Shares         1,000.00         1,028.80         4.51         0.89   

Large Cap Value Equity Fund

      I Shares         1,000.00         1,073.90         5.03         0.97   
     A Shares         1,000.00         1,072.30         6.58         1.27   
     C Shares         1,000.00         1,070.70         8.85         1.71   
     IS Shares         1,000.00         1,076.00         3.68         0.71   

 

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ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Fund

    Class      Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During Period*
10/01/15-03/31/16		      Expense Ratio
During Period**
10/01/15-03/31/16		  

Mid-Cap Value Equity Fund

      I Shares         $1,000.00         $1,088.30         $5.85         1.12 % 
     A Shares         1,000.00         1,087.60         7.31         1.40   
     C Shares         1,000.00         1,085.30         9.33         1.79   
     IS Shares         1,000.00         1,091.60         4.18         0.80   

Small Cap Growth Stock Fund

      I Shares         1,000.00         956.70         6.36         1.30   
     A Shares         1,000.00         956.50         6.85         1.40   
     C Shares         1,000.00         952.80         10.01         2.05   
     IS Shares         1,000.00         957.00         5.14         1.05   

Small Cap Value Equity Fund

      I Shares         1,000.00         1,072.00         6.22         1.20   
     A Shares         1,000.00         1,070.20         8.02         1.55   
     C Shares         1,000.00         1,068.00         9.77         1.89   

Aggressive Growth Allocation Strategy

      I Shares         1,000.00         1,029.50         2.54         0.50   
     A Shares         1,000.00         1,026.90         3.55         0.70   
     C Shares         1,000.00         1,025.00         6.58         1.30   

Conservative Allocation Strategy

      I Shares         1,000.00         1,020.20         1.52         0.30   
     A Shares         1,000.00         1,019.40         3.03         0.60   
     C Shares         1,000.00         1,015.60         6.55         1.30   

Growth Allocation Strategy

      I Shares         1,000.00         1,031.00         2.54         0.50   
     A Shares         1,000.00         1,029.30         3.30         0.65   
     C Shares         1,000.00         1,025.60         6.58         1.30   

Moderate Allocation Strategy

      I Shares         1,000.00         1,024.10         2.53         0.50   
     A Shares         1,000.00         1,023.40         3.29         0.65   
     C Shares         1,000.00         1,020.40         6.47         1.28   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year.

 

** Annualized.

 

*** Effective February 22, 2016, Capital Innovations Global Resources and Infrastructure Fund had a fiscal year date change from November 30 to March 31. Expenses are equal to annualized expense ratio, multiplied by the average account value over the period, multiplied by 122 (the number of days since February 22, 2016), then divided by 366.

Hypothetical Example

The table below provides information about hypothetical account values and hypothetical expenses based on each RidgeWorth Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

Fund

    Class     Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During  Period*
10/01/15-03/31/16		      Expense Ratio
During  Period**
10/01/15-03/31/16		  

Aggressive Growth Stock Fund

      I Shares        $1,000.00         $1,018.50         $6.61         1.31 % 
     A Shares        1,000.00         1,017.30         7.82         1.55   

Capital Innovations Global Resources and Infrastructure Fund***

      I Shares        1,000.00         1,012.40         4.29         1.28   
     A Shares        1,000.00         1,011.60         5.13         1.53   
     C Shares        1,000.00         1,009.10         7.63         2.28   

International Equity Fund

      I Shares        1,000.00         1,018.80         6.26         1.24   
     A Shares        1,000.00         1,017.70         7.42         1.47   
     IS Shares ****      1,000.00         1,019.30         5.76         1.14   

Large Cap Growth Stock Fund

      I Shares        1,000.00         1,020.20         4.90         0.97   
     A Shares        1,000.00         1,018.90         6.16         1.22   
     C Shares        1,000.00         1,015.50         9.57         1.90   
     IS Shares        1,000.00         1,020.55         4.50         0.89   

Large Cap Value Equity Fund

      I Shares        1,000.00         1,020.20         4.90         0.97   
     A Shares        1,000.00         1,018.70         6.41         1.27   
     C Shares        1,000.00         1,016.50         8.62         1.71   
     IS Shares        1,000.00         1,021.45         3.59         0.71   

 

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ADDITIONAL INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Fund

    Class      Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During Period*
10/01/15-03/31/16		      Expense Ratio
During Period**
10/01/15-03/31/16		  

Mid-Cap Value Equity Fund

      I Shares         $1,000.00         $1,019.40         $5.65         1.12 % 
     A Shares         1,000.00         1,018.00         7.06         1.40   
     C Shares         1,000.00         1,016.10         9.02         1.79   
     IS Shares         1,000.00         1,021.00         4.04         0.80   

Small Cap Growth Stock Fund

      I Shares         1,000.00         1,018.50         6.56         1.30   
     A Shares         1,000.00         1,018.00         7.06         1.40   
     C Shares         1,000.00         1,014.80         10.33         2.05   
     IS Shares         1,000.00         1,019.75         5.30         1.05   

Small Cap Value Equity Fund

      I Shares         1,000.00         1,019.00         6.06         1.20   
     A Shares         1,000.00         1,017.30         7.82         1.55   
     C Shares         1,000.00         1,015.60         9.52         1.89   

Aggressive Growth Allocation Strategy

      I Shares         1,000.00         1,022.50         2.53         0.50   
     A Shares         1,000.00         1,021.50         3.54         0.70   
     C Shares         1,000.00         1,018.50         6.56         1.30   

Conservative Allocation Strategy

      I Shares         1,000.00         1,023.50         1.52         0.30   
     A Shares         1,000.00         1,022.00         3.03         0.60   
     C Shares         1,000.00         1,018.50         6.56         1.30   

Growth Allocation Strategy

      I Shares         1,000.00         1,022.50         2.53         0.50   
     A Shares         1,000.00         1,021.80         3.29         0.65   
     C Shares         1,000.00         1,018.50         6.56         1.30   

Moderate Allocation Strategy

      I Shares         1,000.00         1,022.50         2.53         0.50   
     A Shares         1,000.00         1,021.80         3.29         0.65   
     C Shares         1,000.00         1,018.60         6.46         1.28   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year.

 

** Annualized.

 

*** Effective February 22, 2016, Capital Innovations Global Resources and Infrastructure Fund had a fiscal year date change from November 30 to March 31. Expenses (hypothetical expenses if IS Shares had been in existence from April 1, 2015) are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 183 (the number of days in the most recent six-month period), then divided by 366.

 

**** IS Shares for International Equity Fund commenced operations on September 1, 2015. Expenses (hypothetical expenses if IS Shares had been in existence from April 1, 2015) are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 183 (the number of days in the most recent six-month period), then divided by 366.

Proxy Voting Information

Information regarding the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1-888-784-3863. The information also is included in the Funds’ Statement of Additional Information, which is available on the Funds’ website at www.ridgeworth.com and on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Information relating to how each Fund voted proxies relating to portfolio securities held during the most recent twelve months ended June 30 is available on the Funds’ website at www.ridgeworth.com and on the SEC’s website at www.sec.gov.

Quarterly Portfolio Holdings Information

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available free of charge on the SEC’s website at www.sec.gov. You may also review or, for a fee, copy those documents by visiting the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330.

 

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INVESTMENT ADVISER:

RidgeWorth Investments

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.ridgeworth.com

INVESTMENT SUBADVISERS:

 

Capital Innovations, LLC

325 Forest Grove Drive, Suite 100

Pewaukee, WI 53072

www.capinnovations.com

Silvant Capital Management LLC

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.silvantcapital.com

Zevenbergen Capital Investments LLC

601 Union Street, Suite 4600

Seattle, Washington 98101

www.zci.com

Ceredex Value Advisors LLC

301 East Pine Street, Suite 500

Orlando, Florida 32801

www.ceredexvalue.com

WCM Investment Management

281 Brooks Street

Laguna Beach, CA 92651

www.wcminvest.com

 

 

This information must be preceded or accompanied by a current prospectus for each Fund described. Before investing, investors should carefully read the prospectus or summary prospectus and consider the fund’s investment objectives, risks, charges and expenses. Please call 888.784.3863 or visit ridgeworth.com to obtain a prospectus or summary prospectus, which contains this and other information about the funds.

DISTRIBUTOR:

RIDGEWORTH DISTRIBUTORS LLC

 

LOGO

 

RFAR-EQ-0316

 

LOGO

Table of Contents

LOGO

 

2016 ANNUAL REPORT

FIXED INCOME FUNDS

MARCH 31, 2016

 

LOGO

 

RidgeWorth Investments is the trade name of RidgeWorth Capital Management LLC.

Table of Contents

TABLE OF CONTENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Letter to Shareholders      1   
Management Discussion of Fund Performance   
Fixed Income Funds:   

Seix Core Bond Fund

      2   

Seix Corporate Bond Fund

      4   

Seix Floating Rate High Income Fund

      6   

Seix Georgia Tax-Exempt Bond Fund

      8   

Seix High Grade Municipal Bond Fund

      10   

Seix High Income Fund

      12   

Seix High Yield Fund

      14   

Seix Investment Grade Tax-Exempt Bond Fund

      16   

Seix Limited Duration Fund

      18   

Seix North Carolina Tax-Exempt Bond Fund

      20   

Seix Short-Term Bond Fund

      22   

Seix Short-Term Municipal Bond Fund

      24   

Seix Total Return Bond Fund

      26   

Seix U.S. Government Securities Ultra-Short Bond Fund

      28   

Seix U.S. Mortgage Fund

      30   

Seix Ultra-Short Bond Fund

      32   

Seix Virginia Intermediate Municipal Bond Fund

      34   
Financial Statements   
Schedules of Portfolio Investments      36   
Statements of Assets and Liabilities      111   
Statements of Operations      115   
Statements of Changes in Net Assets      119   
Financial Highlights      125   
Notes to Financial Statements      132   
Report of Independent Registered Public Accounting Firm      159   
Other Information   
Other Federal Tax Information      160   
Trustees and Officers of the RidgeWorth Funds      161   
Additional Information      165   

Table of Contents

LETTER TO SHAREHOLDERS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Dear Valued Shareholder,

We sincerely thank you for your continued business and support. Our primary objective is to help you achieve your investment goals, and we’re grateful you have placed your confidence in us. We aim to earn your trust through competitive investment performance and excellent client service. We hope we have met your expectations in both of these measures, and we look forward to continuing to serve as your asset manager in the months and years to come.

During the 12 months through March 31, 2016, the U.S. economy continued to grow, albeit at a slower pace than last year. The U.S. Federal Reserve in December 2015 took its first steps toward unwinding its long-running stimulus efforts, raising the federal funds rate by 25 basis points. However, the relatively weak improvement of the U.S. economy suggests that the Fed will move slowly to raise interest rates in the near term.

Two major themes during the period were the sharp decline in commodity prices and the strength of the U.S. dollar. These factors caused corporate earnings to struggle, posing headwinds for stocks. However, these headwinds currently appear to be ebbing as commodity prices—particularly the price of oil—have rebounded and the dollar has given back some of the considerable gains experienced since 2014.

Outside the U.S., countries such as China and Brazil struggled to realign economic priorities, contain excess debt and limit political turmoil, while slow economic growth challenged the euro zone. Central banks in many international markets adopted increasingly aggressive stimulus measures. We remain concerned that monetary policies abroad may be nearing the limits of their effectiveness, and we believe the decision by the European Central Bank and other central banks to push interest rates into uncharted negative territory has the potential to disrupt the global economy. We do expect, however, international developed markets to continue to recover, due in part to the continued strength of the U.S. economy, which is shouldering much of the burden of the global economic recovery.

Looking ahead, we believe bond yields will remain relatively low, but the Fed’s intention is to normalize monetary policy. The decline in commodity prices stoked concerns about certain bond issuers over the past year, especially those in the energy sector. This year will be key in terms of observing which ones will be able to service their debt.

Our outlook for the equity markets remains favorable, but with increased volatility due to the presidential race and global macro- headlines. We see opportunities in all equity styles. Finally, we continue to believe that a gradually firming economic environment will offer fresh opportunities to selective investors. We expect this opportunistic environment should mesh well with RidgeWorth’s bottom-up approach to security selection. We at RidgeWorth wish to thank you again for the trust and confidence you have placed in us, and we look forward to another successful year together.

Sincerely,

 

LOGO

Ashi Parikh

Chief Executive Officer, Chief Investment Officer

RidgeWorth Investments

 

1

Table of Contents

SEIX CORE BOND FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Core Bond Fund returned 1.18% (I Shares). That compared to a 1.96% return for the Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Treasuries and high-grade corporate bonds benefited from a flight to quality among investors concerned about global economic growth. Those worries were fueled in part by a slowdown in China, related weakness in commodities and questions about the Fed’s future rate path. Corporate spreads widened during the period, detracting from absolute returns.

Security selection and asset allocation in the corporate sector dragged on the Fund’s return relative to its benchmark. A consistent underweight position in government-related issues such as agency bonds contributed positively to relative performance.

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of productive capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy continues to prioritize safe income at a reasonable price.

 

2

Table of Contents

SEIX CORE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Aggregate Bond Index, which covers the U.S. dollar-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM passthroughs), ABS and CMBS sectors. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Core Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          1.01%           1.94%           3.63%           4.86%   
     with sales charge*            –3.78%           0.29%           2.62%           4.35%   

R Shares^

                 0.78%           1.75%           3.41%           4.48%   

I Shares

                 1.18%           2.17%           3.89%           5.15%   

IS Shares**

                 2.51%           2.19%           3.91%           5.16%   
Barclays U.S. Aggregate Bond Index            1.96%           2.50%           3.78%           4.90%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.62%   
R Shares                                                  0.85%   
I Shares                                                  0.45%   
IS Shares                                                  0.33%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

^ Effective at the close of business on 7/31/09, C Shares converted to R Shares and C Shares are no longer available for purchase. The performance shown prior to such date is based on the performance of the C Shares of the Fund and has not been adjusted to reflect R Shares expenses.

 

**IS Shares were offered beginning on 8/3/15. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

3

Table of Contents

SEIX CORPORATE BOND FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Corporate Bond Fund (I Shares) delivered a –0.29% return, versus 0.92% for the Barclays U.S. Corporate Investment Grade Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Treasuries and high-grade corporate bonds benefited from a flight to quality among investors concerned about global economic growth. Those worries were fueled in part by a slowdown in China, related weakness in commodities and questions about the Fed’s future rate path. Corporate spreads widened during the period, detracting from absolute returns.

The Fund’s performance relative to its benchmark benefited from tactical shifts in its allocation to the energy sector. The Fund’s underweight position in the financials sector also was a positive contributor.

Asset allocation and security selection within the oil field services and mid-stream energy sectors were the main detractors from performance relative to the index.

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of productive capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy continues to prioritize safe income at a reasonable price.

 

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SEIX CORPORATE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Corporate Investment Grade Index, which covers U.S. dollar-denominated, investment grade, fixed-rate, taxable securities sold by industrial, utility and financial issuers. The Index includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Corporate Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –0.52%           2.09%           4.25%           5.17%   
     with sales charge*            –5.26%           0.44%           3.24%           4.67%   

C Shares

    without CDSC          –1.22%           1.42%           3.56%           4.46%   
     with CDSC*            –2.17%           1.42%           3.56%           4.46%   

I Shares

                 –0.29%           2.41%           4.57%           5.50%   
Barclays U.S. Corporate Investment Grade Index            0.92%           3.03%           5.17%           5.82%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.99%   
C Shares                                                  1.67%   
I Shares                                                  0.69%   

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.95%, 1.65% and 0.70% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

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5

Table of Contents

SEIX FLOATING RATE HIGH INCOME FUND

 

 

Portfolio Managers

 

•   George Goudelias
•   Vincent Flanagan, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price. Floating rate loans generally offer less interest rate risk than longer-term bonds and a lower rate of return.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

Floating rate loans are typically senior and secured, in contrast to other below-investment grade securities. However, there is no guarantee that the value of the collateral will not decline, causing a loan to be substantially unsecured. Loans generally are subject to restrictions on resale, and they sometimes trade infrequently in the secondary market. Certain types of loans may limit the ability of the Fund to enforce its rights and may involve assuming additional credit risks.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Floating Rate High Income Fund returned –1.50% (I Shares). That compared to a 1.70% return for the Credit Suisse Institutional Leveraged Loan Index, and a –1.11% return for the Credit Suisse Leveraged Loan Index.

The Fund employed the Credit Suisse Institutional Leveraged Loan Index for the first nine months of the 12-month period. Effective December 31, 2015, the Fund’s official benchmark has changed to the Credit Suisse Leveraged Loan Index, which we believe is more appropriate.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Investors sought out relatively safe parts of the fixed income markets during the period due to a range of macroeconomic issues, including worries about slower global economic growth, weakness in commodity prices and questions about the Federal Reserve’s interest rate strategy. Challenging technical factors, such as high levels of mutual fund redemptions, put pressure on the leveraged loan market and contributed to the Fund’s negative returns.

Even though security selection in the Energy sector was positive, the Fund’s overweight in the sector detracted from performance due to a decrease in oil prices, which impacted energy and energy-related credits. We tend to favor the Refiners sub-sector, which benefits from the decline in oil prices because it is their largest cost, and demand for diesel and gasoline has been consistent. Secondly, negative security selection in Broadcasting detracted from Fund performance; this underperformance mostly comes from one issuer—a large radio broadcasting credit with digital streaming services. The issuer is in the process of revising their earnings projections and providing more clarity on its capital structure.

Positive security selection in Utilities was additive to the Fund’s performance. Additionally, an overweight in BBs and split BB/Bs contributed, as these securities outperformed lower quality counterparts.

How do you plan to position the Fund, based on market conditions?

The outlook for leveraged loans remains constructive given attractive valuations. We will continue to watch fund flows and how they impact market technicals, as well as monitor corporate fundamentals throughout the upcoming earnings season. Ultimately, the current market conditions and global macro backdrop will steer investors towards active management, and further justify the need for fundamental analysis and risk mitigation; this is core to our investment style and management.

 

6

Table of Contents

SEIX FLOATING RATE HIGH INCOME FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO

    

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

Effective December 31, 2015 the benchmark index for the Fund changed from the Credit Suisse First Boston Leveraged Loan Index to the Credit Suisse Institutional Leveraged Loan Index.

 

Credit Suisse Leveraged Loan Index is a market-weighted index that tracks the performance of institutional leveraged loans. Credit Suisse Institutional Leveraged Loan Index is a subindex of the Credit Suisse Leveraged Loan Index which contains only institutional loan facilities priced above 90, excluding TL and TLa facilities and loans rated CC, C or in default. It is designed to more closely reflect the investment criteria of institutional investors. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Floating Rate High Income Fund  

Inception Date†

     

1 Year

       

3 Year

       

5 Year

        10 Year  

A Shares

    without sales charge   03/01/06        –1.79%           1.29%           2.84%           3.59%   
     with sales charge*            –4.27%           0.44%           2.32%           3.32%   

C Shares

    without CDSC   03/01/06        –2.37%           0.68%           2.17%           3.05%   
     with CDSC*            –3.31%           0.68%           2.17%           3.05%   

I Shares

        03/01/06        –1.50%           1.58%           3.12%           3.89%   

IS Shares**

        02/02/15        –1.39%           1.62%           3.14%           3.90%   
Credit Suisse Leveraged Loan Index        –1.11%           2.22%           3.49%           4.01%   

Credit Suisse Institutional Leveraged Loan Index

        1.70%           3.34%           4.22%           3.21%   
                                                      
Prospectus Expense Ratio1                                         Gross  
A Shares                                             0.91%   
C Shares                                             1.50%   
I Shares                                             0.61%   
IS Shares                                             0.47%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

** IS Shares were offered beginning on 2/2/15. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

† The A Shares and C Shares were offered beginning on 5/8/06 and 8/2/07, respectively. The performance shown prior to such dates is based on the performance of the I Shares of the Fund, and has not been adjusted to reflect A Share or C Share expenses. If it had been, the performance would have been lower.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

* Less than 0.05% of Net Assets.

 

 

7

Table of Contents

SEIX GEORGIA TAX-EXEMPT BOND FUND

 

 

Portfolio Manager

 

•   Chris Carter, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The geographical concentration of portfolio holdings in the Fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Georgia Tax-Exempt Bond Fund (I Shares) posted a total return of 3.50%. That compared to 12-month returns of 2.99% and 3.98% for the Lipper Other States Municipal Debt Funds Category and the Barclays U.S. Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Municipal bonds (munis) benefited from increased investor demand, which helped drive prices up and yields down on five-, 10- and 30-year AAA-rated munis. Investors were attracted to munis as they searched for income and stability in a relatively volatile low-interest rate environment. Demand was strong enough to more than offset the impact of high new issuance.

Credit spreads tightened. Holdings issued by transportation and health care entities led performance among the larger sectors of the Fund’s benchmark.

The Fund’s greater-than-benchmark holdings of munis with maturities of 22 years or longer added to relative results, as the long bond sector outperformed the five-year bond sector by a wide margin. Overweight positions in the education and water and sewer sectors also helped boost the Fund’s relative return.

An underweight allocation to state general obligation bonds dragged on relative results, as did underweight allocations to the transportation and leasing sectors.

How do you plan to position the Fund, based on market conditions?

We remain constructive on the municipal sector because of its tax-exempt income, strong technical factors, healthy fundamentals, and attractive yields relative to other fixed income alternatives. Negative headlines still persist from some entities experiencing fiscal strain but do not reflect the financial condition of most municipal borrowers. Tight credit spreads continue to warrant a degree of caution at this point in the economic/credit cycle.

The Fund’s present curve posture and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process and all activity will occur within an investment grade construct.

 

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Table of Contents

SEIX GEORGIA TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Municipal Bond Index, which covers the U.S. dollar-denominated long-term tax-exempt bond market. The Index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. The Index is unmanaged and does not reflect the deduction of fees such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Georgia Tax-Exempt Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          3.40%           3.21%           5.36%           4.07%   
     with sales charge*            –1.49%           1.55%           4.33%           3.57%   

I Shares

                 3.50%           3.33%           5.50%           4.22%   
Barclays U.S. Municipal Bond Index                 3.98%           3.63%           5.59%           4.86%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.73%   
I Shares                                                  0.64%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

9

Table of Contents

SEIX HIGH GRADE MUNICIPAL BOND FUND

 

 

Portfolio Manager

 

•   Ronald Schwartz, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

The geographical concentration of portfolio holdings in the Fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix High Grade Municipal Bond Fund (I Shares) posted a total return of 3.85%. That compared to 12-month returns of 3.45% and 3.98% for the Lipper General & Insured Municipal Debt Funds Category and the Barclays U.S. Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Municipal bonds (munis) benefited from rising investor demand during the 12-month period, which drove up prices on five-, 10- and 30-year AAA-rated munis and pushed yields down. Credit spreads continued to tighten as well. Investors were attracted to munis as they searched for income and stability amid low interest rates and relatively high volatility. The strong demand was enough to absorb the high volume of new munis issued during the period.

The Fund’s absolute performance benefited from holdings of transportation and health care issuers, which led returns among the larger sectors of the Fund’s benchmark. The Fund also benefited from exposure to bonds with maturities of 20 years or more, as longer duration bonds helped drive positive performance over the 12-month period.

In this positive environment, the Fund outperformed one benchmark while underperforming the other. The Fund’s greater-than-benchmark holdings with maturities of 22 years or longer added to relative results. Overweight positions in general obligation municipal bonds at the state and local levels also made strong contributions to relative performance. Meanwhile, underweight exposure to the strong-performing transportation sector detracted from relative performance, as did an underweight allocation to A-rated bonds, which also performed well during the period. The Fund’s allocation to cash dragged on relative performance.

How do you plan to position the Fund, based on market conditions?

Munis remain attractive based on their healthy fundamentals, strong technical factors, tax-exempt income and attractive yields relative to other fixed income investments. While fiscal strains on some issuers continue to generate negative headlines, the sector as a whole remains financially sound. However, the tight credit spreads at this late stage of the current economic and credit cycles mean a degree of caution is warranted.

 

10

Table of Contents

SEIX HIGH GRADE MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Municipal Bond Index, which covers the U.S. dollar-denominated long-term tax-exempt bond market. The Index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. The Index is unmanaged and does not reflect the deduction of fees such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix High Grade Municipal Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          3.70%           4.08%           6.45%           5.11%  
     with sales charge*            –1.20%           2.42%           5.43%           4.60%  

I Shares

                 3.85%           4.26%           6.61%           5.28%  
Barclays U.S. Municipal Bond Index            3.98%           3.63%           5.59%           4.86%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.81%  
I Shares                                                  0.70%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.80% and 0.65% for A and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.01% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

* Class A Share performance reflects the maximum front–end sales charge of 4.75%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

11

Table of Contents

SEIX HIGH INCOME FUND

 

 

Portfolio Managers

 

•   Michael Kirkpatrick
•   James FitzPatrick, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix High Income Fund (I Shares) returned –5.31%. That compared to a –3.69% return for the Fund’s benchmark, the Barclays U.S. Corporate High Yield Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

The decrease in oil and other commodity prices was the largest negative influence on credit markets during the period. At the beginning of the 12-month period, the energy and metals and mining sectors accounted for nearly 20% of the benchmark. Although there were pockets of difficulty among some lower-quality issuers not related to energy or metals and mining, the majority of distress was experienced by issuers whose revenues were hurt by the downturn in commodity prices. The Fund’s absolute returns suffered in this environment.

Relative to its benchmark, the Fund benefited from underweight positions in both the energy and metals and mining sectors, and from an overweight position in the cable industry. Security selection among issuers in the chemical and retail industries also boosted relative results. Additionally, the Fund’s overweight position in cash positions helped buoy returns in a challenging market environment.

Underweight positions in the paper, construction and gaming industries hurt the Fund’s relative results. Security selection in the technology, satellite and transportation industries also weighed on relative performance.

How do you plan to position the Fund, based on market conditions?

Energy prices continue to stabilize and the fundamentals of non-commodity-related sectors remain moderately positive. Given that environment, we expect high-yield bonds to continue the recovery that began in February. We expect to see higher levels of defaults, especially in the energy and metals and mining sectors, but believe that current prices in those sectors more than account for the potential for losses. In our view, unfavorable technical factors pushed high-yield bond prices down to unsustainably low levels by the middle of February. Although high-yield bonds have rebounded, we believe that spreads have additional room to tighten, and more than compensate investors for any increase in defaults.

We have rotated into bonds with attractive potential upside, including specialty finance companies with stable cash flows that could provide a kind of backstop if the credit market deteriorates. We also have worked to identify investment grade energy companies that we expected to be downgraded to high-yield status, but offered very generous double-digit yields.

 

12

Table of Contents

SEIX HIGH INCOME FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Corporate High Yield Bond Index, which covers the U.S. dollar-denominated, non-investment grade, fixed-rate, taxable corporate bond market. Securities are classified as high yield if the middle rating of Moody’s, Fitch, and S&P is Ba1/BB+/BB+ or below. The Index excludes Emerging Markets debt. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix High Income Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –5.68%           0.54%           3.34%           6.61%   
     with sales charge*            –10.12%           –1.10%           2.35%           6.09%   

R Shares^

                 –5.87%           0.37%           3.09%           6.20%   

I Shares

                 –5.31%           0.81%           3.62%           6.92%   

IS Shares**

                 –5.30%           0.90%           3.67%           6.95%   
Barclays U.S. Corporate High Yield Bond Index            –3.69%           1.84%           4.93%           7.01%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.99%   
R Shares                                                  1.21%   
I Shares                                                  0.77%   
IS Shares                                                  0.63%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

^ Effective at the close of business on 7/31/09, C Shares converted to R Shares and C Shares are no longer available for purchase. The performance shown prior to such date is based on the performance of the C Shares of the Fund and has not been adjusted to reflect R Share expenses.
** IS Shares were offered beginning on 8/1/14. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

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13

Table of Contents

SEIX HIGH YIELD FUND

 

 

Portfolio Managers

 

•   Michael Kirkpatrick
•   James FitzPatrick, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix High Yield Fund (I Shares) returned –5.23%. That compared to a –2.34% return for the Fund’s benchmark, the Bank of America Merrill Lynch U.S. High Yield BB-B Rated Constrained Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

The decrease in oil and other commodity prices was the largest negative influence on credit markets during the period. At the beginning of the 12-month period, the energy and metals and mining sectors accounted for nearly 20% of the benchmark. Although there were pockets of difficulty among some lower-quality issuers not related to energy or metals and mining, the majority of distress was experienced by issuers whose revenues were hurt by the downturn in commodity prices. The Fund’s absolute returns suffered in this environment.

Relative to its benchmark, the Fund benefited from an underweight position in the energy sector, and from an overweight position in the cable industry. Security selection among issuers in the chemical and retail industries also boosted relative results. Additionally, the Fund’s overweight exposure to cash helped buoy returns in a challenging market environment.

Underweight positions in the telecommunications, gaming and healthcare industries hurt the Fund’s relative results. Security selection in the technology, satellite and steel industries also hurt relative performance.

How do you plan to position the Fund, based on market conditions?

Energy prices continue to stabilize and the fundamentals of non-commodity-related sectors remain moderately positive. Given that environment, we expect high-yield bonds to continue the recovery that began in February. We expect to see higher levels of defaults, especially in the energy and metals and mining sectors, but believe that current prices in those sectors more than account for the potential for losses. In our view, unfavorable technical factors pushed high-yield bond prices down to unsustainably low levels by the middle of February. And while high-yield bonds have rebounded, we believe that spreads have additional room to tighten, and more than compensate investors for any increase in defaults.

We have rotated into bonds with attractive potential upside, including specialty finance companies with stable cash flows that could provide a kind of backstop if the credit environment deteriorates. We also have worked to identify investment grade energy companies that we expected to be downgraded to high-yield status, but offered very generous double-digit yields.

 

14

Table of Contents

SEIX HIGH YIELD FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Bank of America Merrill Lynch BB-B U.S. High Yield Constrained Index, which tracks the performance of BB1 through B3 U.S. Dollar-denominated corporate bonds publicly issued in the U.S. domestic market and is restricted to a maximum of 2% per issuer. This Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix High Yield Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –5.36%           0.64%           3.44%           5.21%   
     with sales charge*            –9.81%           –0.98%           2.44%           4.70%   

R Shares^

                 –5.52%           0.41%           3.16%           4.67%   

I Shares

                 –5.23%           0.87%           3.67%           5.37%   
Bank of America Merrill Lynch BB-B U.S. High Yield
Constrained Index		            –2.34%           2.53%           5.15%           6.52%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.87%   
R Shares                                                  1.04%   
I Shares                                                  0.58%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

^ Effective at the close of business on 7/31/09, C Shares converted to R Shares and C Shares are no longer available for purchase. The performance shown prior to such date is based on the performance of the C Shares of the Fund and has not been adjusted to reflect R Share expenses.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

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15

Table of Contents

SEIX INVESTMENT GRADE TAX-EXEMPT BOND FUND

 

 

Portfolio Manager

 

•   Ronald Schwartz, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Investment Grade Tax-Exempt Bond Fund (I Shares) posted a total return of 2.96%. That compared to 12-month returns of 3.02% and 3.46% for the Lipper Intermediate Municipal Debt Funds Category and the Barclays U.S. Municipal Bond 1-15 Blend Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Municipal bonds (munis) benefited from rising investor demand during the 12-month period, which drove up prices on five-, 10- and 30-year AAA-rated munis and pushed yields down. Credit spreads continued to tighten. Investors were attracted to munis as they searched for income and stability amid low interest rates and relatively high volatility. The strong demand was enough to absorb the high volume of new munis issued during the period.

The Fund’s absolute performance benefited from its holdings of transportation and health care issuers, which led returns among the larger sectors of the Fund’s benchmark. The Fund also benefited from exposure to bonds with maturities of 20 years or more, as longer duration bonds helped drive positive performance over the 12-month period.

Underweight exposure to the strong-performing transportation sector detracted from relative performance, as did an underweight allocation to A-rated bonds, which also performed well during the period. The Fund’s allocation to cash also dragged on relative performance. The Fund’s greater-than-benchmark holdings of bonds with maturities of 20 years or longer added to relative results. An overweight position in the special tax sector also added to relative return, as did exposure to market refunding events.

How do you plan to position the Fund, based on market conditions?

Munis remain attractive based on their healthy fundamentals, strong technical factors, tax-exempt income and attractive yields relative to other fixed income investments. While fiscal strains on some issuers continue to generate negative headlines, the sector as a whole remains financially sound. However, the tight credit spreads at this late stage of the current economic and credit cycles warrant a degree of caution.

We feel the Fund’s current focus on longer term bonds targets the appropriate part of the yield curve. We will continue to take a tactical approach with a focus on a higher credit quality.

 

16

Table of Contents

SEIX INVESTMENT GRADE TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Barclays U.S. Municipal Bond 1-15 Year Blend Index is composed of tax-exempt bonds with maturities ranging between 1 and 15 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Investment Grade Tax-Exempt Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          2.89%           2.72%           4.61%           4.51%   
     with sales charge*            –1.97%           1.07%           3.59%           4.00%   

I Shares

                 2.96%           2.88%           4.78%           4.76%   

Barclays U.S. Municipal Bond 1-15 Year Blend Index

            3.46%           3.05%           4.42%           4.56%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.91%   
I Shares                                                  0.68%   

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.80% and 0.65% for A and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

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17

Table of Contents

SEIX LIMITED DURATION FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger
•   Seth Antiles, Ph.D
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Limited Duration Fund (I Shares) returned 0.26%. That compared to a 0.12% return for the Fund’s benchmark, the Bank of America Merrill Lynch 3 month U.S. Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

The U.S. Federal Reserve raised the federal funds rate by 25 basis points in December. Nevertheless, short-term interest rates remained near historical lows during the 12-month period. The Fund held a variety of short-duration mortgage- and asset-backed securities, which provided somewhat higher yields than Treasury bills of comparable durations. The income from such issues helped the Fund to provide a positive absolute return for the period, and to modestly outperform its Treasury-only benchmark index.

How do you plan to position the Fund, based on market conditions?

We expect the Fed to maintain a relatively soft approach to interest rate increases, given the U.S. economy’s anemic growth. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of productive capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy continues to prioritize safe income at a reasonable price.

 

18

Table of Contents

SEIX LIMITED DURATION FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Bank of America Merrill Lynch 3 Month U.S. Treasury Bill Index, which tracks the monthly price-only and total return performance of a three-month Treasury bill, based on monthly average auction rates. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                    Average Annual Total Returns as of 3/31/16  
Seix Limited Duration Fund                  1 Year        3 Year        5 Year        10 Year  

I Shares

                  0.26%           0.22%           0.46%           1.38%   
Bank of America Merrill Lynch 3 Month U.S. Treasury Bill Index        0.12%           0.07%           0.08%           1.15%   
                                                       
Prospectus Expense Ratio1                                                Gross  
I Shares                                                   0.46%   

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.35%. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

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19

Table of Contents

SEIX NORTH CAROLINA TAX-EXEMPT BOND FUND

 

 

Portfolio Manager

 

•   Chris Carter, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The geographical concentration of portfolio holdings in this Fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform relative to its benchmark for the fiscal year ended March 31, 2016?

The Seix North Carolina Tax-Exempt Bond Fund (I Shares) posted a total return of 3.39%. That compared to 12-month returns of 2.99% and 3.98% for the Lipper Other States Municipal Debt Funds Category and the Barclays U.S. Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Municipal bonds (munis) benefited from increased investor demand, which helped drive prices up and yields down on five-, 10- and 30-year AAA-rated munis. Investors were attracted to munis as they searched for income and stability in a relatively volatile low-interest rate environment. Demand was strong enough to more than offset the impact of high new issuance.

Credit spreads tightened. Holdings issued by transportation and health care entities led performance among the larger sectors of the Fund’s benchmark.

The Fund’s greater-than-benchmark holdings of munis with maturities of 22 years or longer added to relative results, as the long bond sector outperformed the five-year bond sector by a wide margin. Overweight positions in the education and water and sewer sectors also helped boost the Fund’s relative return.

Underweight allocations to state and local general obligation bonds and to special tax and transportation sectors weighed on relative results, as did higher-than-benchmark holdings of AAA-rated securities.

How do you plan to position the Fund, based on market conditions?

We remain constructive on the municipal sector because of its tax-exempt income, strong technical factors, healthy fundamentals, and attractive yields relative to other fixed income alternatives. Negative headlines still persist from some entities experiencing fiscal strain but do not reflect the financial condition of most municipal borrowers. Tight credit spreads continue to warrant a degree of caution at this point in the economic/credit cycle.

The Fund’s present curve posture and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process and all activity will occur within an investment grade construct.

 

20

Table of Contents

SEIX NORTH CAROLINA TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Municipal Bond Index, which covers the U.S. dollar-denominated long-term tax-exempt bond market. The Index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix North Carolina Tax-Exempt Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          3.23%           3.08%           5.02%           4.06%  
     with sales charge*            –1.66%           1.42%           4.00%           3.56%  

I Shares

                 3.39%           3.23%           5.17%           4.22%  
Barclays U.S. Municipal Bond Index            3.98%           3.63%           5.59%           4.86%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.79%  
I Shares                                                  0.69%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.80% and 0.65% for A and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75% .
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

21

Table of Contents

SEIX SHORT-TERM BOND FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Short-Term Bond Fund (I Shares) returned 0.68%. That compares to a 1.04% return for the Fund’s benchmark, the Barclays 1-3 Year Government/Credit Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Treasuries and high-grade corporate bonds benefited from a flight to quality among investors concerned about global economic growth. Those worries were fueled in part by a slowdown in China, related weakness in commodities and questions about the Fed’s future rate path. The Federal Reserve’s December decision to raise the federal funds rate moved short-term Treasury yields higher, reducing absolute returns. Coupon income during the period helped offset the negative impact of higher interest rates.

The primary driver of the Fund’s performance relative to its benchmark was the overweight position in primary spread sectors, including corporate bonds, and securitized sectors such as asset-back securities (ABS), residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS). In this low-rate environment, the Fund’s fees were the largest detractor from relative results.

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of productive capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy continues to prioritize safe income at a reasonable price.

 

22

Table of Contents

SEIX SHORT-TERM BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays 1-3 Year Government/Credit Index. The Barclays 1-3 Year Government/Credit Index (Barclay’s Index) is the 1-3 year component of the U.S. Government/Credit Index. The Barclays Index includes securities in the Barclays Government and Credit Indices. The Government Index includes treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year) and agencies (i.e., publicly issued debt of U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government). The Barclay’s Index includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                 Average Annual Total Returns as of 3/31/16  
Seix Short-Term Bond Fund               1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge        0.58%           0.58%           1.09%           2.54%  
     with sales charge*          –1.97%           –0.27%           0.57%           2.28%  

C Shares

    without CDSC        0.00%           0.02%           0.44%           1.81%  
     with CDSC*          –1.00%           0.02%           0.44%           1.81%  

I Shares

               0.68%           0.79%           1.32%           2.76%  

Barclays 1-3 Year Government/Credit Index

          1.04%           0.95%           1.14%           2.80%  
                                                    
Prospectus Expense Ratio1                                             Gross  
A Shares                                                0.81%  
C Shares                                                1.58%  
I Shares                                                0.67%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.80%, 1.60% and 0.60% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

23

Table of Contents

SEIX SHORT-TERM MUNICIPAL BOND FUND

 

 

Portfolio Managers

 

•   Ronald Schwartz, CFA
•   Dusty L. Self

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The geographical concentration of portfolio holdings in this fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Short-Term Municipal Bond Fund (I Shares) posted a total return of 0.41%. That compares to 12-month returns of 0.56% and 1.51% for the Lipper Short Municipal Debt Funds Category and the Barclays 1-5 Year Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Rising investor demand for longer-term municipal bonds (munis) resulted in a flattening of the yield curve during the 12-month period. Yields on five and 10-year AAA-rated munis declined while the yield on 2-year AAA-rated munis rose. Credit spreads continued to tighten as well. Investors were attracted to munis as they searched for income and stability amid low interest rates and relatively high volatility. The strong demand was enough to absorb the high volume of new munis issued during the period.

The Fund’s absolute performance benefited from holdings of pre-refunded and state general obligation bonds, which led performance among the larger sectors of the Fund’s benchmark.

An underweight allocation to the strong- performing pre-refunded sector dragged on relative results. The Fund’s allocation to cash also detracted, as did a lower-than-benchmark allocation to the three- and five-year durations section of the muni yield curve. Security selection in the lease sector and exposure to A-rated electric issuers also weighed on the Fund’s performance relative to its benchmarks. Meanwhile, the Fund’s overweight allocation to the water and sewer sector and to AAA-rated securities helped relative results.

How do you plan to position the Fund, based on market conditions?

Munis remain attractive based on their healthy fundamentals, strong technical factors, tax-exempt income and attractive yields relative to other fixed income investments. While fiscal strains on some issuers continue to generate negative headlines, the sector as a whole remains financially sound. However, the tight credit spreads at this late stage of the current economic and credit cycles mean a degree of caution is warranted.

We feel the Fund’s current yield curve focus and sector allocations remain appropriate given our economic forecasts. We will continue to take a tactical approach with a focus on a higher credit quality.

 

24

Table of Contents

SEIX SHORT-TERM MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays 1-5 Year Municipal Bond Index, which covers investment grade tax-exempt municipal bonds with maturities of 1-6 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Short-Term Municipal Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares*

    without sales charge          0.23%           0.51%           2.82%           3.31%  
     with sales charge**            –2.31%           –0.34%           2.30%           3.05%  

I Shares

                 0.41%           0.66%           2.97%           3.42%  
Barclays 1-5 Year Municipal Bond Index            1.51%           1.27%           1.77%           3.01%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.76%  
I Shares                                                  0.63%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.68% and 0.48% for A and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.01% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

* Prior to August 1, 2009, there were no assets in Class A Shares. The performance shown prior to such date is based on the performance of the I Shares of the Fund and has not been adjusted to reflect A Shares expenses. If it had been, performance would have been lower.

 

** Class A Shares performance reflects the maximum front-end sales charge of 2.50%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

25

Table of Contents

SEIX TOTAL RETURN BOND FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger
•   Seth Antiles, Ph.D.
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix Total Return Bond Fund (I Shares) returned 1.35%. That compares to a 1.96% return for the Fund’s benchmark, the Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Treasuries and high-grade corporate bonds benefited from a flight to quality among investors concerned about global economic growth. Those worries were fueled in part by a slowdown in China, related weakness in commodities and questions about the Fed’s future rate path. Corporate spreads widened during the period, detracting from absolute returns.

An underweight position in agency bonds was a positive contributor to the Fund’s performance relative to its benchmark. The Fund also benefited modestly from its global overlay strategies. The Fund’s relative results were hurt by security selection and asset allocation within the corporate sector.

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of productive capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy continues to prioritize safe income at a reasonable price.

 

26

Table of Contents

SEIX TOTAL RETURN BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Aggregate Bond Index, which covers the U.S. dollar-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM passthroughs), ABS and CMBS sectors. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Total Return Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          1.02%           1.84%           3.68%           4.96%  
     with sales charge*            –3.74%           0.19%           2.66%           4.44%  

R Shares

                 0.74%           1.52%           3.37%           4.57%  

I Shares

                 1.35%           2.11%           3.95%           5.28%  

IS Shares**

                 1.49%           2.22%           4.02%           5.31%  
Barclays U.S. Aggregate Bond Index            1.96%           2.50%           3.78%           4.90%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.71%  
R Shares                                                  1.06%  
I Shares                                                  0.44%  
IS Shares                                                  0.31%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.75%, 1.10%, 0.50% and 0.40% for A, R, I and IS Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

** IS Shares were offered beginning on 8/1/14. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect IS Share expenses. If it had been, performance would have been higher.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

* Less than 0.05% of Net Assets.

 

 

27

Table of Contents

SEIX U.S. GOVERNMENT SECURITIES ULTRA-SHORT BOND FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger

 

 

INVESTMENT CONCERNS

 

Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix U.S. Government Securities Ultra-Short Bond Fund (I Shares) returned –0.11%. That compared to a 0.24% return for the Fund’s benchmark, the Barclays 3-6 month U.S. Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Short-term interest rates moved higher during the 12-month period as the U.S. Federal Reserve raised overnight interest rates in December 2015. The rising-rate environment hurt absolute returns.

The spreads between the yields on Treasuries and government-guaranteed securitized issues widened during the period, and was the primary detractor from relative performance. The Fund’s return relative to its benchmark benefited from an overweight exposure to higher-yielding securities.

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of production capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy for the Fund will continue to emphasize well-structured short-duration government mortgage-backed securities (MBS) that will provide higher coupon income relative to its benchmark.

 

28

Table of Contents

SEIX U.S. GOVERNMENT SECURITIES ULTRA-SHORT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays 3-6 Month U.S. Treasury Bill Index (“Index”). The Index is the 3-6 month component of the Barclays U.S. Treasury Bills Index, which includes U.S. Treasury bills with a remaining maturity from 1 up to (but not including) 12 months. It excludes zero coupon strips. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                    Average Annual Total Returns as of 3/31/16  
Seix U.S. Government Securities Ultra-Short Bond Fund                  1 Year        3 Year        5 Year        10 Year  

I Shares

                  –0.11%           0.26%           0.73%           2.39%   
Barclays 3-6 Month U.S. Treasury Bill Index                  0.24%           0.14%           0.15%           1.32%   
                                                       
Prospectus Expense Ratio1                                                Gross  
I Shares                                                   0.39%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

29

Table of Contents

SEIX U.S. MORTGAGE FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger
•   Seth Antiles, Ph.D
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2016?

The Seix U.S. Mortgage Fund (I Shares) returned 1.84%. That compares to a 2.43% return for the Fund’s benchmark, the Barclays U.S. Mortgage Backed Securities Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Treasuries and high-grade corporate bonds benefited from a flight to quality among investors concerned about global economic growth. Those worries were fueled in part by a slowdown in China, related weakness in commodities and questions about the Fed’s future rate path. Corporate spreads widened during the period.

The Fund’s allocation to 30-year Government National Mortgage Association (GNMA) bonds detracted from performance relative to the benchmark. Conversely, relative performance benefited from an overweight position in commercial mortgage-backed securities. Another positive contributor was the Fund’s underweight position in conventional 15-year residential mortgage-backed securities (RMBS).

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of productive capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy continues to prioritize safe income at a reasonable price.

 

30

Table of Contents

SEIX U.S. MORTGAGE FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Mortgage Backed Securities Index, which covers agency pass-through securities (both fixed-rate and hybrid ARM) issued by Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC). The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix U.S. Mortgage Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          1.72%           2.30%           3.14%           4.25%   
     with sales charge*            –0.83%           1.43%           2.62%           3.99%   

C Shares

    without CDSC          0.88%           1.52%           2.33%           3.43%   
     with CDSC*            –0.12%           1.52%           2.33%           3.43%   

I Shares

                 1.84%           2.51%           3.34%           4.47%   
Barclays U.S. Mortgage Backed Securities Index            2.43%           2.70%           3.24%           4.85%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  1.33%   
C Shares                                                  2.05%   
I Shares                                                  1.16%   

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2016 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.90%, 1.65% and 0.70% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

31

Table of Contents

SEIX ULTRA-SHORT BOND FUND

 

 

Portfolio Managers

 

•   James F. Keegan
•   Perry Troisi
•   Michael Rieger
•   Jonathan Yozzo
•   Carlos Catoya

 

 

INVESTMENT CONCERNS

 

Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform relative to its benchmark for the fiscal year ended March 31, 2016?

The Seix Ultra-Short Bond Fund (I Shares) returned 0.42%. That compared to a 0.24% return for the Fund’s benchmark, the Barclays 3-6 Month Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Short-term interest rates moved higher during the 12-month period as the U.S. Federal Reserve raised overnight interest rates in December 2015. The rising-rate environment muted absolute returns.

The Fund held an overweight position in “spread sectors” such as corporate paper and securitized bonds, which provide higher yield than Treasury bills. That positioning provided the largest positive contribution to relative performance during the fiscal year.

How do you plan to position the Fund, based on market conditions?

We expect the U.S. economy’s anemic growth to cause the Fed to maintain a relatively soft approach to interest rate increases. The direction of the financial markets is likely to have an increasing impact on the Fed’s interest rate strategy in the near term.

Concerns persist about the health of U.S. and world economies. U.S. economic growth has consistently underwhelmed throughout this recovery. Across the globe, deflationary pressures continue to persist due to excessive debt, slow productivity growth and a surplus of production capacity. Given this environment, we expect interest rates to remain range-bound, with a bias toward the lower end, and we think credit spreads will remain volatile for the foreseeable future. Our investment strategy for the Fund continues to emphasize higher quality short-duration spread product that will provide higher coupon income relative to its benchmark.

 

32

Table of Contents

SEIX ULTRA-SHORT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays 3-6 Month U.S. Treasury Bill Index. The Barclays 3-6 Month U.S. Treasury Bill Index (“Index”) is the 3-6 month component of the Barclays U.S. Treasury Bills Index, which includes U.S. Treasury bills with a remaining maturity from 1 up to (but not including) 12 months. It excludes zero coupon strips. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                    Average Annual Total Returns as of 3/31/16  
Seix Ultra-Short Bond Fund                  1 Year        3 Year        5 Year        10 Year  

I Shares

                  0.42%           0.58%           0.89%           2.20%   
Barclays 3-6 Month U.S. Treasury Bill Index                  0.24%           0.14%           0.15%           1.32%   
                                                       
Prospectus Expense Ratio1                                                Gross  
I Shares                                                   0.37%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

33

Table of Contents

SEIX VIRGINIA INTERMEDIATE MUNICIPAL BOND FUND

 

 

Portfolio Manager

 

•   Chris Carter, CFA

 

 

INVESTMENT CONCERNS

 

The geographical concentration of portfolio holdings in this Fund may involve increased risk.

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform relative to its benchmark for the fiscal year ended March 31, 2016?

The Seix Virginia Intermediate Municipal Bond Fund (I Shares) posted a total return of 3.30%. That compared to 12-month returns of 2.82% and 3.46% for the Lipper Other States Intermediate Municipal Debt Funds Category and the Barclays U.S. Municipal Bond 1-15 Year Blend Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2016?

Municipal bonds (munis) benefited from increased investor demand, which helped drive prices up and yields down on five-, 10- and 30-year AAA-rated munis. Investors were attracted to munis as they searched for income and stability in a relatively volatile low-interest rate environment. Demand was strong enough to more than offset the impact of high new issuance.

Credit spreads tightened. Holdings issued by transportation and health care entities led performance among the larger sectors of the Fund’s benchmark.

The Fund’s greater-than-benchmark holdings of munis with maturities of 10 years and longer added to relative results, as the long bond sector outperformed the five-year bond sector by a wide margin. Overweight positions in the leasing and water and sewer sectors added to relative results, as did security selection in the special tax arena.

Underweight allocations to state and local general obligation bonds and to the power sector weighed on results, as did higher-than-benchmark holdings of AAA-rated securities.

How do you plan to position the Fund, based on market conditions?

We remain constructive on the municipal sector because of its tax-exempt income, strong technical factors, healthy fundamentals, and attractive yields relative to other fixed income alternatives. Negative headlines still persist from some entities experiencing fiscal strain but do not reflect the financial condition of most municipal borrowers. Tight credit spreads continue to warrant a degree of caution at this point in the economic/credit cycle.

The Fund’s present curve posture and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process and all activity will occur within an investment grade construct.

 

34

Table of Contents

SEIX VIRGINIA INTERMEDIATE MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2016)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/06. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays U.S. Municipal Bond 1-15 Year Blend Index (“Index”) which is an index of tax-exempt bonds with maturities ranging between 1 and 15 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/16  
Seix Virginia Intermediate Municipal Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          3.29%           2.44%           3.81%           3.92%   
     with sales charge*            –1.61%           0.78%           2.80%           3.41%   

I Shares

                 3.30%           2.53%           3.94%           4.06%   
Barclays U.S. Municipal Bond 1-15
Year Blend Index		            3.46%           3.05%           4.42%           4.56%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.74%   
I Shares                                                  0.65%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/16 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2016)

as a percentage of investments

 

LOGO

 

 

35

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  

Asset-Backed Securities 3.1%

  

Automobiles 0.3%

     

Ford Credit Auto Owner Trust, Series 2016-1, Cl A,
2.310%, 08/15/27(a)

     845,000         845,407   
    

 

 

  

Credit Card 1.2%

     

Barclays Dryrock Issuance Trust, Series 2014-3, Cl A,
2.410%, 07/15/22

     2,125,000         2,176,090   

Cabela’s Credit Card Master Note Trust,
Series 2014-2, Cl A,

0.886%, 07/15/22(b)

     953,000         937,474   
    

 

 

  
       3,113,564   
    

 

 

  

Other 1.6%

     

DB Master Finance LLC, Series 2015-1A, Cl A2II,
3.980%, 02/20/45(a)

     2,603,700         2,546,418   

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2,
5.216%, 01/25/42(a)

     1,156,084         1,183,082   

Ohio Phase-In-Recovery Funding LLC, Series 2013-1, Cl A2, 2.049%, 07/01/20

     685,000         694,812   
    

 

 

  
       4,424,312   
    

 

 

  

Total Asset-Backed Securities
(Cost $8,375,189)

        8,383,283   
    

 

 

  

Collateralized Mortgage Obligations 5.0%

  

Commercial Mortgage Backed Securities 5.0%

  

Federal Home Loan Mortgage Corporation

     

Series KP02, Cl A2, 2.355%, 04/25/21(b)

     1,967,000         2,015,158   
    

 

 

  

FREMF Mortgage Trust

     

Series 2016-K52, Cl B, 3.921%, 01/25/49(a)(b)

     745,000         652,897   
    

 

 

  

GS Mortgage Securities Corp. II

     

Series 2012-ALOH, Cl A, 3.551%, 04/10/34(a)

     980,000         1,043,191   

Series 2012-BWTR, Cl B, 3.255%, 11/05/34(a)

     1,195,000         1,187,834   
    

 

 

  
       2,231,025   
    

 

 

  

GS Mortgage Securities Trust

     

Series 2010-C1, Cl A2, 4.592%, 08/10/43(a)

     1,011,000         1,104,770   
    

 

 

  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2012-HSBC, Cl B, 3.722%, 07/05/32(a)

     380,000         388,088   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

  

Madison Avenue Trust

     

Series 2013-650M, Cl B, 4.034%, 10/12/32(a)(b)

     1,815,000         1,888,823   
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2014-CPT, Cl A, 3.350%, 07/13/29(a)

     3,285,000         3,450,212   
    

 

 

  

VNDO Mortgage Trust

     

Series 2013-PENN, Cl B, 3.947%, 12/13/29(a)(b)

     1,125,000         1,173,387   
    

 

 

  

Wells Fargo Commercial Mortgage Trust

     

Series 2013-BTC, Cl A, 3.544%, 04/16/35(a)

     510,000         539,405   
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $13,376,967)

        13,443,765   
    

 

 

  

Corporate Bonds 27.7%

     

Aerospace/Defense 0.3%

     

L-3 Communications Corp., 3.950%, 05/28/24

     244,000         234,832   

Lockheed Martin Corp.,
4.700%, 05/15/46

     447,000         499,805   
    

 

 

  
       734,637   
    

 

 

  

Agriculture 0.4%

     

Japan Tobacco, Inc.,

2.100%, 07/23/18(a)

     1,187,000         1,198,218   
    

 

 

  

Airlines 1.3%

     

American Airlines Pass Through Trust, Series 2013-2, 4.950%, 07/15/24

     819,993         877,327   

American Airlines Pass Through Trust, Series 2015-2, 3.600%, 03/22/29

     127,000         130,810   

American Airlines Pass Through Trust, Series 2016-1, Cl A, 4.100%, 07/15/29

     858,000         887,944   

Delta Air Lines Pass Through Trust, Series 2015-1, 3.625%, 07/30/27

     191,138         188,988   

Southwest Airlines Co., 2.650%, 11/05/20

     415,000         423,140   

Spirit Airlines Pass Through Trust, Series 2015-1, 4.100%, 04/01/28

     227,000         228,135   

United Airlines Pass Through Trust, Series 2014-1, Cl A, 4.000%, 04/11/26

     862,579         890,612   
    

 

 

  
       3,626,956   
    

 

 

  
 

 

See Notes to Financial Statements.

 

36

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Auto Manufacturers 1.2%

     

Daimler Finance North America LLC, 2.250%, 03/02/20(a)

     564,000         567,485   

Ford Motor Credit Co. LLC, 3.336%, 03/18/21

     1,153,000         1,186,488   

General Motors Co., 5.200%, 04/01/45

     835,000         784,960   

Volkswagen International Finance, 2.375%, 03/22/17(a)

     742,000         745,176   
    

 

 

  
       3,284,109   
    

 

 

  

Auto Parts & Equipment 0.5%

     

Delphi Automotive PLC, 4.250%, 01/15/26

     482,000         503,121   

Magna International, Inc., 4.150%, 10/01/25

     811,000         859,294   
    

 

 

  
       1,362,415   
    

 

 

  

Banks 5.8%

     

Bank of America Corp., 1.700%, 08/25/17, MTN

     644,000         644,867   

Bank of America Corp., 4.450%, 03/03/26

     450,000         463,585   

Bank of America NA, 1.750%, 06/05/18

     498,000         497,881   

BPCE SA, 2.650%, 02/03/21

     715,000         721,479   

Citigroup, Inc., 2.500%, 09/26/18

     1,039,000         1,054,890   

Cooperatieve Rabobank UA, 2.500%, 01/19/21, MTN

     479,000         483,481   

Credit Suisse Group Funding Guernsey Ltd., 3.800%, 09/15/22

     877,000         872,856   

Fifth Third Bank, 3.850%, 03/15/26

     980,000         1,003,910   

Goldman Sachs Group, Inc. (The), 2.550%, 10/23/19

     552,000         560,352   

Goldman Sachs Group, Inc. (The), 5.150%, 05/22/45

     558,000         566,863   

Huntington National Bank (The), 1.300%, 11/20/16

     1,072,000         1,072,045   

ING Bank NV, 1.800%, 03/16/18(a)

     684,000         685,993   

JPMorgan Chase & Co., 2.250%, 01/23/20

     823,000         829,510   

KeyCorp, 2.900%, 09/15/20, MTN

     423,000         429,933   

Lloyds Bank PLC, 2.050%, 01/22/19

     600,000         600,124   

Morgan Stanley, 3.950%, 04/23/27

     464,000         464,490   
     Shares or
Principal
Amount($)		      Value($)  

Banks—continued

     

Morgan Stanley, 4.300%, 01/27/45

     1,458,000         1,467,099   

US Bancorp, 2.350%, 01/29/21, MTN

     392,000         397,981   

US Bancorp, 3.600%, 09/11/24, MTN

     639,000         673,377   

US Bank NA, 1.100%, 01/30/17

     1,229,000         1,231,731   

Wells Fargo & Co., 4.300%, 07/22/27, MTN

     894,000         948,573   
    

 

 

  
       15,671,020   
    

 

 

  

Beverages 0.9%

     

Anheuser-Busch InBev Finance, Inc., 2.650%, 02/01/21

     337,000         346,297   

Anheuser-Busch InBev Finance, Inc., 3.650%, 02/01/26

     209,000         219,787   

Anheuser-Busch InBev Finance, Inc., 4.900%, 02/01/46

     645,000         720,827   

SABMiller Holdings, Inc., 2.450%, 01/15/17(a)

     1,133,000         1,143,390   
    

 

 

  
       2,430,301   
    

 

 

  

Biotechnology 0.5%

     

Biogen, Inc., 5.200%, 09/15/45

     428,000         474,734   

Celgene Corp., 4.625%, 05/15/44

     288,000         293,424   

Celgene Corp., 5.000%, 08/15/45

     422,000         456,323   
    

 

 

  
       1,224,481   
    

 

 

  

Commercial Services 0.7%

     

ERAC USA Finance LLC, 2.750%, 03/15/17(a)

     567,000         573,742   

ERAC USA Finance LLC, 3.850%, 11/15/24(a)

     310,000         324,076   

ERAC USA Finance LLC, 4.500%, 02/15/45(a)

     337,000         331,967   

ERAC USA Finance LLC, 5.250%, 10/01/20(a)

     504,000         555,956   
    

 

 

  
       1,785,741   
    

 

 

  

Computers 0.3%

     

Apple, Inc., 3.200%, 05/13/25

     852,000         892,609   
    

 

 

  

Diversified Financial Services 1.2%

  

   

Air Lease Corp., 2.625%, 09/04/18

     1,276,000         1,267,945   

American Express Credit Corp., 2.375%, 03/24/17, MTN

     360,000         364,223   

Lazard Group LLC, 3.750%, 02/13/25

     1,189,000         1,097,466   
 

 

See Notes to Financial Statements.

 

37

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Diversified Financial Services—continued

  

   

TD Ameritrade Holding Corp., 2.950%, 04/01/22

     391,000         399,082   
    

 

 

  
       3,128,716   
    

 

 

  

Electric 0.3%

     

Berkshire Hathaway Energy Co., 6.125%, 04/01/36

     220,000         272,366   

Dominion Resources, Inc., 1.950%, 08/15/16

     322,000         323,017   

Exelon Generation Co. LLC, 6.200%, 10/01/17

     291,000         309,418   
    

 

 

  
       904,801   
    

 

 

  

Healthcare-Products 0.3%

     

Becton Dickinson and Co., 4.685%, 12/15/44

     211,000         227,914   

Medtronic, Inc., 3.500%, 03/15/25

     176,000         187,852   

Medtronic, Inc., 4.625%, 03/15/45

     450,000         503,648   
    

 

 

  
       919,414   
    

 

 

  

Healthcare-Services 0.2%

     

Howard Hughes Medical Institute, 3.500%, 09/01/23

     405,000         433,305   
    

 

 

  

Housewares 0.3%

     

Newell Rubbermaid, Inc., 5.500%, 04/01/46

     620,000         673,566   
    

 

 

  

Insurance 0.9%

     

Chubb INA Holdings, Inc., 4.350%, 11/03/45

     270,000         294,249   

MassMutual Global Funding LLC, 2.000%, 04/05/17(a)

     702,000         708,952   

Nationwide Financial Services, Inc., 5.375%, 03/25/21(a)

     975,000         1,068,953   

Reinsurance Group of America, Inc., 4.700%, 09/15/23, MTN

     259,000         270,058   
    

 

 

  
       2,342,212   
    

 

 

  

Media 0.5%

     

Comcast Corp., 4.650%, 07/15/42

     1,167,000         1,298,125   
    

 

 

  

Mining 1.6%

     

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

     1,098,000         987,650   

Barrick International Barbados Corp., 6.350%, 10/15/36(a)

     658,000         597,446   

BHP Billiton Finance USA Ltd., 5.000%, 09/30/43

     544,000         553,414   

Newmont Mining Corp., 6.250%, 10/01/39

     1,793,000         1,791,831   
     Shares or
Principal
Amount($)		      Value($)  

Mining—continued

     

Rio Tinto Finance USA Ltd., 3.750%, 06/15/25

     445,000         433,686   
    

 

 

  
       4,364,027   
    

 

 

  

Miscellaneous Manufacturer 0.7%

  

   

3M Co., 1.375%, 09/29/16

     327,000         328,154   

General Electric Co., 3.450%, 05/15/24, MTN

     940,000         1,013,079   

General Electric Co., 4.125%, 10/09/42

     240,000         253,104   

General Electric Co., 5.250%, 12/06/17

     247,000         264,692   
    

 

 

  
       1,859,029   
    

 

 

  

Oil & Gas 3.3%

  

Apache Corp., 3.250%, 04/15/22

     649,000         624,432   

BP Capital Markets PLC, 2.248%, 11/01/16

     471,000         474,631   

ConocoPhillips Co., 5.950%, 03/15/46

     696,000         748,730   

Devon Energy Corp.,
5.850%, 12/15/25(c)

     649,000         626,439   

Ensco PLC, 4.500%, 10/01/24(c)

     262,000         145,410   

Ensco PLC, 5.200%, 03/15/25(c)

     337,000         188,720   

Ensco PLC, 5.750%, 10/01/44

     637,000         315,315   

EOG Resources, Inc., 4.150%, 01/15/26

     938,000         975,383   

Exxon Mobil Corp., 1.912%, 03/06/20

     625,000         632,015   

Exxon Mobil Corp., 3.043%, 03/01/26

     1,210,000         1,238,388   

Marathon Oil Corp., 3.850%, 06/01/25(c)

     648,000         526,566   

Marathon Petroleum Corp., 3.625%, 09/15/24

     96,000         87,785   

Marathon Petroleum Corp., 5.000%, 09/15/54

     363,000         284,119   

Shell International Finance BV, 3.250%, 05/11/25

     737,000         743,954   

Woodside Finance Ltd., 3.650%, 03/05/25(a)

     642,000         596,389   

Woodside Finance Ltd., 4.600%, 05/10/21(a)

     590,000         611,359   
    

 

 

  
       8,819,635   
    

 

 

  

Oil & Gas Services 0.8%

     

FMC Technologies, Inc., 3.450%, 10/01/22

     185,000         164,398   
 

 

See Notes to Financial Statements.

 

38

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas Services—continued

     

Schlumberger Holdings Corp., 3.000%, 12/21/20(a)

     515,000         522,125   

Schlumberger Holdings Corp., 4.000%, 12/21/25(a)

     1,008,000         1,040,689   

Schlumberger Investment SA, 3.300%, 09/14/21(a)

     442,000         455,256   
    

 

 

  
       2,182,468   
    

 

 

  

Pharmaceuticals 0.4%

     

AbbVie, Inc., 3.600%, 05/14/25

     569,000         597,289   

Express Scripts Holding Co., 2.650%, 02/15/17

     358,000         362,676   

Novartis Securities Investment Ltd., 5.125%, 02/10/19

     215,000         238,006   
    

 

 

  
       1,197,971   
    

 

 

  

Pipelines 0.1%

     

Phillips 66 Partners LP, 3.605%, 02/15/25

     105,000         95,414   

Phillips 66 Partners LP, 4.680%, 02/15/45

     131,000         108,796   
    

 

 

  
       204,210   
    

 

 

  

Real Estate Investment Trust 1.2%

  

   

American Tower Corp., 3.500%, 01/31/23

     361,000         364,422   

American Tower Corp., 5.000%, 02/15/24

     711,000         780,232   

Boston Properties LP, 3.650%, 02/01/26

     416,000         431,664   

Digital Realty Trust LP, 3.950%, 07/01/22

     730,000         743,301   

Digital Realty Trust LP, 4.750%, 10/01/25

     473,000         481,564   

Simon Property Group LP, 3.300%, 01/15/26

     306,000         317,564   
    

 

 

  
       3,118,747   
    

 

 

  

Retail 0.8%

     

CVS Health Corp., 5.125%, 07/20/45

     375,000         434,296   

Home Depot, Inc. (The), 2.625%, 06/01/22

     364,000         376,534   

Kohl’s Corp., 5.550%, 07/17/45

     260,000         235,309   

Wal-Mart Stores, Inc., 1.125%, 04/11/18

     1,133,000         1,141,515   
    

 

 

  
       2,187,654   
    

 

 

  

Semiconductors 1.3%

     

Analog Devices, Inc., 5.300%, 12/15/45

     933,000         1,047,036   

Intel Corp., 1.950%, 10/01/16

     380,000         382,638   

Intel Corp., 4.900%, 07/29/45

     366,000         410,494   
     Shares or
Principal
Amount($)		      Value($)  

Semiconductors—continued

     

TSMC Global Ltd., 1.625%, 04/03/18(a)

     1,673,000         1,663,464   
    

 

 

  
       3,503,632   
    

 

 

  

Software 0.4%

  

   

Fidelity National Information Services, Inc., 4.500%, 10/15/22

     494,000         526,804   

Oracle Corp., 1.200%, 10/15/17

     272,000         273,588   

Oracle Corp., 2.375%, 01/15/19

     305,000         316,174   
    

 

 

  
       1,116,566   
    

 

 

  

Telecommunication Services 1.5%

  

AT&T, Inc., 2.375%, 11/27/18

     532,000         543,457   

AT&T, Inc., 3.950%, 01/15/25

     168,000         174,608   

AT&T, Inc., 4.350%, 06/15/45

     208,000         190,548   

AT&T, Inc., 4.750%, 05/15/46

     400,000         390,183   

CC Holdings GS V LLC/Crown Castle GS III Corp., 3.849%, 04/15/23

     956,000         985,589   

Cisco Systems, Inc., 2.125%, 03/01/19

     460,000         473,272   

Crown Castle Towers LLC, 3.222%, 05/15/42(a)

     675,000         676,012   

Verizon Communications, Inc., 5.012%, 08/21/54

     615,000         616,986   
    

 

 

  
       4,050,655   
    

 

 

  

Total Corporate Bonds
(Cost $72,749,809)

        74,515,220   
    

 

 

  

U.S. Government Agency Mortgages 24.9%

  

Federal Home Loan Mortgage Corporation

     

Pool #G30614, 3.500%, 12/01/32

     943,669         1,000,958   

Pool #C91768, 3.500%, 07/01/34

     1,213,036         1,278,278   

Pool #G01779, 5.000%, 04/01/35

     153,638         170,411   

Pool #G01837, 5.000%, 07/01/35

     591,925         656,229   

Pool #G01838, 5.000%, 07/01/35

     33,827         37,530   

Pool #G03296, 6.000%, 09/01/37

     324,408         367,345   

Pool #G05326, 5.000%, 02/01/38

     149,843         165,988   

Pool #G08347, 4.500%, 06/01/39

     166,942         181,636   

Pool #G08353, 4.500%, 07/01/39

     213,140         231,914   
 

 

See Notes to Financial Statements.

 

39

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #G06079, 6.000%, 07/01/39

     71,635         81,646   

Pool #A89148, 4.000%, 10/01/39

     387,968         415,197   

Pool #A89384, 4.000%, 10/01/39

     71,578         76,536   

Pool #G08372, 4.500%, 11/01/39

     624,258         679,537   

Pool #A93101, 5.000%, 07/01/40

     74,589         82,231   

Pool #G06061, 4.000%, 10/01/40

     560,542         601,945   

Pool #A95085, 4.000%, 11/01/40

     382,516         409,323   

Pool #A95796, 4.000%, 12/01/40

     232,319         248,791   

Pool #A95822, 4.000%, 12/01/40

     611,981         660,185   

Pool #G60126, 4.500%, 11/01/41

     62,322         67,798   

Pool #Q18522, 3.500%, 05/01/43(d)

     1,223,088         1,286,011   

Pool #849167, 2.947%, 10/01/43(b)

     861,067         892,115   

Pool #G60019, 4.500%, 03/01/44

     1,936,969         2,110,738   

Pool #Q29416, 4.000%, 11/01/44

     276,954         296,250   

Pool #Q31066, 4.000%, 02/01/45

     221,087         238,070   

Pool #Q31645, 4.000%, 02/01/45

     174,290         187,010   

Pool #Q35611, 4.000%, 09/01/45

     1,451,672         1,557,622   
    

 

 

  
       13,981,294   
    

 

 

  

Federal National Mortgage Association

     

Pool #AM6855, 3.150%, 11/01/24

     90,000         94,671   

Pool #AM6979, 3.310%, 11/01/24

     378,000         402,289   

Pool #AN0432, 2.970%, 12/01/25

     520,000         544,489   

Pool #AN0818, 3.050%, 01/01/26

     207,000         218,186   

Pool #AN0632, 3.210%, 01/01/26

     1,550,000         1,625,601   

Pool #AP9592, 3.500%, 10/01/32

     970,864         1,029,449   

Pool #MA1630, 4.000%, 10/01/33

     339,568         366,233   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #MA1763, 3.500%, 01/01/34

     931,266         984,572   

Pool #190370, 6.000%, 06/01/36

     301,016         343,932   

Pool #890248, 6.000%, 08/01/37

     91,493         105,988   

Pool #889529, 6.000%, 03/01/38

     97,740         112,533   

Pool #AE0814, 6.000%, 09/01/39

     1,548,781         1,768,320   

Pool #AC2817, 4.000%, 10/01/39

     99,411         106,208   

Pool #AX3605, 3.500%, 01/01/40

     374,685         393,704   

Pool #932441, 4.000%, 01/01/40

     935,571         999,540   

Pool #AC9564, 4.500%, 02/01/40

     257,012         282,130   

Pool #AL7497, 3.500%, 09/01/40

     6,530,088         6,860,253   

Pool #AD9725, 3.500%, 10/01/40

     206,266         216,704   

Pool #AE3860, 5.000%, 10/01/40

     1,572,585         1,745,810   

Pool #AE4414, 4.000%, 11/01/40

     572,397         613,396   

Pool #AE5143, 4.000%, 11/01/40

     77,763         83,333   

Pool #AE9284, 4.000%, 11/01/40

     138,151         147,790   

Pool #AB2071, 3.500%, 01/01/41

     93,285         98,012   

Pool #MA0639, 4.000%, 02/01/41

     260,915         279,554   

Pool #AL0215, 4.500%, 04/01/41

     890,229         971,820   

Pool #AB3274, 4.500%, 07/01/41

     457,991         501,484   

Pool #AB3865, 3.500%, 11/01/41

     195,093         205,923   

Pool #AT8263, 3.500%, 01/01/42

     22,321         23,532   

Pool #AW8154, 3.500%, 01/01/42

     4,402,405         4,633,963   

Pool #AB5188, 3.500%, 05/01/42

     1,090,681         1,146,184   

Pool #AP7874, 3.500%, 10/01/42

     327,514         344,183   

Pool #AB8726, 3.500%, 03/01/43

     1,698,962         1,785,277   
 

 

See Notes to Financial Statements.

 

40

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AL3657, 3.500%, 06/01/43

     665,926         703,828   

Pool #AU3742, 3.500%, 08/01/43

     249,519         262,728   

Pool #AL5939, 3.500%, 09/01/43(d)

     1,405,535         1,479,469   

Pool #AL6223, 4.500%, 08/01/44

     887,019         965,798   

Pool #AY2685, 4.500%, 01/01/45

     132,792         145,804   

Pool #AX8835, 2.801%, 02/01/45(b)

     656,399         676,323   

Pool #AZ7723, 4.500%, 10/01/45

     213,202         232,603   

Pool #BC2470, 3.500%, 02/01/46

     564,003         594,945   
    

 

 

  
     34,096,561   
    

 

 

  

Government National Mortgage Association

     

Pool #MA0321, 5.000%, 08/20/42

     96,691         107,789   

Pool #666413, 4.000%, 09/15/43

     270,300         291,916   

Pool #MA2681, 5.000%, 03/20/45

     405,879         441,939   

Pool #AM0226, 4.000%, 05/15/45

     2,819,752         3,020,415   

Pool #AM9875, 4.000%, 06/15/45

     459,852         493,918   

Pool #AN7421, 4.000%, 06/15/45

     247,100         264,959   

Pool #AM7092, 4.500%, 06/15/45

     394,554         429,933   

Pool #AN8476, 3.500%, 07/15/45

     774,014         818,440   

Pool #626960, 3.500%, 07/15/45

     1,544,897         1,641,781   

Pool #AM8631, 4.000%, 07/15/45

     673,409         721,501   

Pool #AN5745, 4.000%, 07/15/45

     939,278         1,009,007   

Pool #AN5781, 4.000%, 07/15/45

     509,258         546,236   

Pool #AN5764, 4.000%, 07/15/45

     383,434         411,959   

Pool #AN5766, 4.000%, 07/15/45

     421,336         452,019   

Pool #AN6811, 4.000%, 07/15/45

     196,739         210,762   

Pool #AO0509, 3.500%, 08/15/45

     1,009,051         1,068,148   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #626970, 3.500%, 08/15/45

     607,031         645,119   

Pool #AO3608, 4.000%, 08/15/45

     1,904,792         2,043,544   

Pool #AM9046, 4.500%, 08/15/45

     2,736,945         2,985,072   

Pool #AB5970, 4.000%, 10/15/45

     447,758         482,009   

Pool #AB5975, 4.000%, 11/15/45

     901,826         970,802   
    

 

 

  
     19,057,268   
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $65,899,861)

   

      67,135,123   
    

 

 

  
U.S. Treasury Obligations 36.6%   

U.S. Treasury Bond 4.9%

     

3.000%, 11/15/45

     12,210,000         13,181,550   
    

 

 

  

U.S. Treasury Notes 31.7%

  

0.500%, 06/15/16

     37,600,000         37,616,882   

1.250%, 10/31/18(e)

     13,389,000         13,534,391   

1.375%, 02/29/20

     4,798,000         4,850,668   

1.625%, 02/15/26(c)

     29,779,000         29,346,281   
    

 

 

  
     85,348,222   
    

 

 

  

Total U.S. Treasury Obligations
(Cost $98,717,241)

   

      98,529,772   
    

 

 

  

Foreign Government Bond 0.2%

  

   

Sovereign 0.2%

     

Mexico Government International Bond,
5.550%, 01/21/45

     396,000         438,570   
    

 

 

  

Total Foreign Government Bond
(Cost $404,958)

   

      438,570   
    

 

 

  

Money Market Funds 8.1%

  

   

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.19%(f)

     8,951,394         8,951,394   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(f)(g)

     12,791,803         12,791,803   
    

 

 

  

Total Money Market Funds
(Cost $21,743,197)

   

      21,743,197   
    

 

 

  

Total Investments
(Cost $281,267,222) — 105.6%

   

      284,188,930   

Liabilities in Excess of
Other Assets — (5.6)%

        (15,026,075 ) 
    

 

 

  

Net Assets — 100.0%

      $ 269,162,855   
    

 

 

  
 

 

See Notes to Financial Statements.

 

41

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Core Bond Fund — concluded

 

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 11.2% of net assets as of March 31, 2016.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(c) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $12,492,396.

 

(d) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.
(e) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(f) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(g) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(k)).

Investment Abbreviation

MTN — Medium Term Note

 

 

See Notes to Financial Statements.

 

42

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Corporate Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Corporate Bonds 95.3%     

Aerospace/Defense 1.2%

     

L-3 Communications Corp.,
3.950%, 05/28/24

     71,000         68,333   

Lockheed Martin Corp.,
4.700%, 05/15/46

     124,000         138,648   
    

 

 

  
       206,981   
    

 

 

  

Agriculture 1.4%

     

Japan Tobacco, Inc.,
2.100%, 07/23/18(a)

     250,000         252,363   
    

 

 

  

Airlines 4.5%

     

American Airlines Pass Through Trust, Series 2015-2,
3.600%, 09/22/27

     128,000         131,840   

American Airlines Pass Through Trust, Series 2016-1, Cl A,
4.100%, 01/15/28

     200,000         206,980   

Delta Air Lines Pass Through Trust, Series 2015-1,
3.625%, 07/30/27

     66,653         65,903   

Southwest Airlines Co., 2.650%, 11/05/20

     117,000         119,295   

Spirit Airlines Pass Through Trust, Series 2015-1,
4.100%, 04/01/28

     115,000         115,575   

United Airlines Pass Through Trust, Series 2014-1, Cl A, 4.000%, 04/11/26

     150,393         155,281   
    

 

 

  
       794,874   
    

 

 

  

Auto Manufacturers 3.1%

     

Ford Motor Credit Co. LLC,
3.336%, 03/18/21

     306,000         314,887   

General Motors Co.,
5.200%, 04/01/45

     235,000         220,917   
    

 

 

  
       535,804   
    

 

 

  

Auto Parts & Equipment 3.2%

     

Delphi Automotive PLC,
4.250%, 01/15/26

     128,000         133,609   

Lear Corp., 4.750%, 01/15/23

     135,000         138,713   

Magna International, Inc.,
4.150%, 10/01/25

     270,000         286,078   
    

 

 

  
       558,400   
    

 

 

  

Banks 17.0%

     

Bank of America Corp.,
4.450%, 03/03/26

     206,000         212,218   

Bank of America Corp.,
6.300%(b)(c)

     151,000         155,530   

BPCE SA, 2.650%, 02/03/21

     250,000         252,265   

Fifth Third Bank, 3.850%, 03/15/26

     259,000         265,319   
     Shares or
Principal
Amount($)		      Value($)  

Banks—continued

     

Goldman Sachs Group, Inc. (The),
5.150%, 05/22/45

     187,000         189,970   

ING Bank NV, 1.800%, 03/16/18(a)

     200,000         200,583   

JPMorgan Chase & Co.,
2.250%, 01/23/20

     224,000         225,772   

KeyCorp, 2.900%, 09/15/20, MTN

     138,000         140,262   

Morgan Stanley,
2.650%, 01/27/20

     209,000         212,090   

Morgan Stanley,
3.950%, 04/23/27

     181,000         181,191   

Toronto-Dominion Bank,
2.125%, 04/07/21(d)

     375,000         375,079   

US Bancorp,
2.350%, 01/29/21, MTN

     109,000         110,663   

US Bancorp,
3.600%, 09/11/24, MTN

     198,000         208,652   

Wells Fargo & Co.,
4.300%, 07/22/27, MTN

     233,000         247,223   
    

 

 

  
       2,976,817   
    

 

 

  

Beverages 1.5%

     

Anheuser-Busch InBev Finance, Inc., 3.650%, 02/01/26

     57,000         59,942   

Anheuser-Busch InBev Finance, Inc., 4.900%, 02/01/46

     176,000         196,691   
    

 

 

  
       256,633   
    

 

 

  

Biotechnology 1.6%

     

Biogen, Inc., 5.200%, 09/15/45

     124,000         137,540   

Celgene Corp., 4.625%, 05/15/44

     67,000         68,262   

Celgene Corp., 5.000%, 08/15/45

     69,000         74,612   
    

 

 

  
       280,414   
    

 

 

  

Commercial Services 3.0%

     

ERAC USA Finance LLC, 2.750%, 03/15/17(a)

     215,000         217,557   

ERAC USA Finance LLC, 4.500%, 02/15/45(a)

     72,000         70,925   

ERAC USA Finance LLC, 5.250%, 10/01/20(a)

     221,000         243,782   
    

 

 

  
       532,264   
    

 

 

  

Computers 1.4%

     

Apple, Inc., 3.200%, 05/13/25

     230,000         240,963   
    

 

 

  

Diversified Financial Services 4.8%

     

Air Lease Corp., 2.625%, 09/04/18

     348,000         345,803   

Lazard Group LLC, 3.750%, 02/13/25(e)

     401,000         370,130   

TD Ameritrade Holding Corp., 2.950%, 04/01/22

     115,000         117,377   
    

 

 

  
       833,310   
    

 

 

  
 

 

See Notes to Financial Statements.

 

43

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Corporate Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Electric 2.6%

     

Berkshire Hathaway Energy Co., 6.125%, 04/01/36

     91,000         112,660   

Exelon Generation Co. LLC, 6.200%, 10/01/17

     149,000         158,431   

FirstEnergy Transmission LLC, 5.450%, 07/15/44(a)

     184,000         191,779   
    

 

 

  
       462,870   
    

 

 

  

Healthcare-Products 1.5%

     

Becton Dickinson and Co., 4.685%, 12/15/44

     57,000         61,569   

Medtronic, Inc., 3.500%, 03/15/25

     56,000         59,771   

Medtronic, Inc., 4.625%, 03/15/45

     128,000         143,260   
    

 

 

  
       264,600   
    

 

 

  

Healthcare-Services 1.3%

     

Roche Holdings, Inc., 2.250%, 09/30/19(a)

     216,000         222,586   
    

 

 

  

Housewares 1.0%

     

Newell Rubbermaid, Inc., 5.500%, 04/01/46

     166,000         180,342   
    

 

 

  

Insurance 1.0%

     

Chubb INA Holdings, Inc., 4.350%, 11/03/45

     76,000         82,826   

Reinsurance Group of America, Inc., 4.700%, 09/15/23, MTN

     92,000         95,928   
    

 

 

  
       178,754   
    

 

 

  

Media 0.6%

     

Comcast Corp., 4.650%, 07/15/42

     92,000         102,337   
    

 

 

  

Mining 4.4%

     

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

     119,000         107,040   

Barrick International Barbados Corp., 6.350%, 10/15/36(a)

     219,000         198,846   

BHP Billiton Finance USA Ltd., 5.000%, 09/30/43

     178,000         181,080   

Newmont Mining Corp., 6.250%, 10/01/39

     178,000         177,884   

Rio Tinto Finance USA Ltd., 3.750%, 06/15/25

     116,000         113,051   
    

 

 

  
       777,901   
    

 

 

  

Miscellaneous Manufacturer 3.2%

     

General Electric Co., 3.450%, 05/15/24, MTN

     253,000         272,669   

General Electric Co., 4.125%, 10/09/42

     112,000         118,115   

General Electric Co., 5.250%, 12/06/17

     158,000         169,317   
    

 

 

  
       560,101   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas 15.0%

     

Apache Corp., 3.250%, 04/15/22

     176,000         169,338   

ConocoPhillips Co., 5.950%, 03/15/46

     181,000         194,713   

Devon Energy Corp., 5.850%, 12/15/25(f)

     176,000         169,882   

Ensco PLC, 4.500%, 10/01/24(f)

     143,000         79,365   

Ensco PLC, 5.200%, 03/15/25(f)

     344,000         192,640   

Ensco PLC, 5.750%, 10/01/44

     125,000         61,875   

EOG Resources, Inc., 4.150%, 01/15/26

     257,000         267,242   

Exxon Mobil Corp., 1.912%, 03/06/20

     183,000         185,054   

Exxon Mobil Corp., 3.043%, 03/01/26

     338,000         345,930   

Marathon Oil Corp., 3.850%, 06/01/25(f)

     177,000         143,831   

Marathon Petroleum Corp., 3.625%, 09/15/24

     27,000         24,689   

Marathon Petroleum Corp., 5.000%, 09/15/54

     211,000         165,149   

Shell International Finance BV, 3.250%, 05/11/25

     244,000         246,302   

Woodside Finance Ltd., 3.650%, 03/05/25(a)

     96,000         89,180   

Woodside Finance Ltd., 4.600%, 05/10/21(a)(e)

     277,000         287,028   
    

 

 

  
       2,622,218   
    

 

 

  

Oil & Gas Services 2.7%

     

FMC Technologies, Inc., 3.450%, 10/01/22

     49,000         43,543   

Schlumberger Holdings Corp., 3.000%, 12/21/20(a)

     142,000         143,965   

Schlumberger Holdings Corp., 4.000%, 12/21/25(a)

     278,000         287,015   
    

 

 

  
       474,523   
    

 

 

  

Pharmaceuticals 2.7%

     

AbbVie, Inc., 3.600%, 05/14/25

     188,000         197,347   

Express Scripts Holding Co., 2.650%, 02/15/17

     275,000         278,591   
    

 

 

  
       475,938   
    

 

 

  

Pipelines 1.8%

     

NuStar Logistics LP, 4.800%, 09/01/20(e)

     300,000         264,000   

Phillips 66 Partners LP, 3.605%, 02/15/25

     30,000         27,261   

Phillips 66 Partners LP, 4.680%, 02/15/45

     26,000         21,593   
    

 

 

  
       312,854   
    

 

 

  
 

 

See Notes to Financial Statements.

 

44

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Corporate Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Real Estate Investment Trust 5.6%

     

American Tower Corp., 3.500%, 01/31/23

     190,000         191,801   

American Tower Corp., 5.000%, 02/15/24

     215,000         235,935   

Boston Properties LP, 3.650%, 02/01/26

     114,000         118,293   

Digital Realty Trust LP, 3.950%, 07/01/22

     220,000         224,008   

Digital Realty Trust LP, 4.750%, 10/01/25

     123,000         125,227   

Simon Property Group LP, 3.300%, 01/15/26

     84,000         87,175   
    

 

 

  
       982,439   
    

 

 

  

Retail 1.9%

     

CVS Health Corp., 5.125%, 07/20/45

     110,000         127,393   

Home Depot, Inc. (The), 2.625%, 06/01/22

     122,000         126,201   

Kohl’s Corp., 5.550%, 07/17/45

     83,000         75,118   
    

 

 

  
       328,712   
    

 

 

  

Semiconductors 1.1%

     

TSMC Global Ltd., 1.625%, 04/03/18(a)(e)

     200,000         198,860   
    

 

 

  

Software 1.6%

     

Fidelity National Information Services, Inc., 4.500%, 10/15/22

     155,000         165,293   

Microsoft Corp., 2.000%, 11/03/20

     118,000         120,897   
    

 

 

  
       286,190   
    

 

 

  

Telecommunication Services 4.6%

     

AT&T, Inc., 3.950%, 01/15/25

     54,000         56,124   

AT&T, Inc., 4.350%, 06/15/45

     37,000         33,896   

AT&T, Inc., 4.750%, 05/15/46

     165,000         160,950   

CC Holdings GS V LLC/Crown Castle GS III Corp., 3.849%, 04/15/23

     254,000         261,861   

Verizon Communications, Inc., 5.012%, 08/21/54

     300,000         300,969   
    

 

 

  
       813,800   
    

 

 

  

Total Corporate Bonds
(Cost $16,617,631)

        16,713,848   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Funds 7.3%

  

   

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.19%(g)

     813,998         813,998   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(g)(h)

     471,458         471,458   
    

 

 

  

Total Money Market Funds
(Cost $1,285,456)

        1,285,456   
    

 

 

  

Total Investments
(Cost $17,903,087) — 102.6%

        17,999,304   

Liabilities in Excess of
Other Assets — (2.6)%

        (450,994 ) 
    

 

 

  

Net Assets — 100.0%

      $ 17,548,310   
    

 

 

  

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 14.8% of net assets as of March 31, 2016.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(c) Perpetual maturity.

 

(d) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(e) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(f) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $452,997.

 

(g) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(h) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(k)).

Investment Abbreviation

MTN —Medium Term Note

 

 

See Notes to Financial Statements.

 

45

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Security 0.0%(a)      

Other 0.0%(a)

     

Cutwater 2015-I Ltd., Series 2015-1A, Cl D1, 4.522%, 07/15/27(b)(c)

     1,294,000         1,058,470   
    

 

 

  

Total Asset-Backed Security
(Cost $1,041,779)

        1,058,470   
    

 

 

  
Bank Loans 93.8%      

Aerospace 3.2%

     

Air Canada, 2015 Term Loan B, 4.000%, 09/26/19(b)(c)

     13,215,333         13,202,910   

AM General LLC, Term Loan B, 10.250%, 03/22/18(c)(d)

     14,910,143         10,884,404   

AWAS Finance Luxembourg S.A.R.L., Term Loan B, 06/10/16(b)(e)(f)

     10,216,294         10,193,920   

Computer Sciences Government Services, Inc., Term Loan B, 3.750%, 11/28/22(b)(c)

     13,940,063         13,961,809   

DAE Aviation Holdings, Inc., 1st Lien Term Loan, 5.250%, 07/07/22(b)(c)

     2,691,475         2,679,713   

Engility Corp., 2014 Term Loan B, 7.000%, 05/30/20(b)(c)

     16,256,371         15,606,116   

Engility Corp., 2nd Lien Term Loan, 12.000%, 05/30/21(b)(c)

     10,605,000         9,915,675   

Transdigm, Inc., 2015 Term Loan E, 3.500%, 05/14/22(b)(c)

     24,330,934         23,935,557   

Transdigm, Inc., Term Loan C, 3.750%, 02/28/20(b)(c)

     22,276,287         21,957,959   

Transdigm, Inc., Term Loan D, 3.750%, 06/04/21(b)(c)

     8,876,887         8,740,538   

US Airways Group, Inc., New Term Loan B1, 3.500%, 05/23/19(b)(c)

     1,650,608         1,646,069   

WP CPP Holdings LLC, Term Loan B3, 4.500%, 12/28/19(b)(c)

     6,654,028         6,130,024   

WP CPP Holdings LLC, New 2nd Lien Term Loan, 8.750%, 04/30/21(b)(c)

     1,413,475         1,206,161   
    

 

 

  
       140,060,855   
    

 

 

  

Broadcasting 4.1%

     

Cumulus Media Holdings, Inc., 2013 Term Loan, 4.250%, 12/23/20(b)(c)

     8,810,805         5,925,266   
     Shares or
Principal
Amount($)		      Value($)  

Broadcasting—continued

     

EIG Investors Corp., 2016 Term Loan, 02/02/23(b)(e)(f)

     6,915,000         6,396,375   

iHeartCommunications, Inc., Term Loan D, 7.183%, 01/30/19(b)(c)(g)

     36,585,459         25,335,430   

iHeartCommunications, Inc., USD Extended Term Loan E, 7.933%, 07/30/19(b)(c)(g)

     85,742,285         59,076,434   

Tribune Media Co., Term Loan, 3.750%, 12/27/20(b)(c)

     33,452,776         33,299,563   

Univision Communications, Inc., Term Loan C3, 4.000%, 03/01/20(b)(c)

     35,022,499         34,635,851   

Univision Communications, Inc., Term Loan C4, 4.000%, 03/01/20(b)(c)

     15,488,066         15,318,627   
    

 

 

  
       179,987,546   
    

 

 

  

Cable/Wireless Video 6.5%

  

   

CCO Safari III LLC, Term Loan H, 3.250%, 08/24/21(b)(c)

     8,260,000         8,231,338   

CCO Safari III LLC, Term Loan I, 3.500%, 01/24/23(b)(c)

     3,880,000         3,881,086   

Charter Communications Operating LLC, Term Loan E, 3.000%, 07/01/20(b)(c)

     25,437,748         25,306,489   

Charter Communications Operating LLC, Term Loan F, 3.000%, 01/04/21(b)(c)

     3,852,016         3,833,449   

CSC Holdings, Inc., New Term Loan B, 2.933%, 04/17/20(b)(c)

     2,499,967         2,496,842   

Liberty Cablevision of Puerto Rico LLC, 1st Lien Term Loan,

4.500%, 01/07/22(b)(c)

     13,560,000         12,915,900   

Liberty Cablevision of Puerto Rico LLC, 2nd Lien Term Loan, 7.750%, 07/07/23(b)(c)(e)

     7,945,000         7,349,125   

MCC Iowa LLC, Term Loan H, 3.250%, 01/29/21(b)(c)

     11,373,336         11,297,476   

Neptune Finco Corp., 2015 Term Loan B, 5.000%, 10/09/22(b)(c)

     17,935,000         17,932,130   

Quebecor Media, Inc., Term Loan B1, 3.250%, 08/17/20(b)(c)

     29,159,832         28,734,682   

UPC Financing Partnership, USD Term Loan AH, 3.344%, 06/30/21(b)(c)

     5,726,632         5,674,462   
 

 

See Notes to Financial Statements.

 

46

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Cable/Wireless Video—continued

  

   

Virgin Media Investment Holdings Ltd., USD Term Loan F, 3.500%, 06/30/23(b)(c)

     38,273,621         37,924,565   

WideOpenWest Finance LLC, Term Loan B1, 3.750%, 07/17/17(b)(c)

     736,224         730,048   

WideOpenWest Finance LLC, 2015 Term Loan B, 4.500%, 04/01/19(b)(c)

     3,039,648         3,003,294   

Ziggo Financing Partnership, USD Term Loan B1, 3.500%, 01/15/22(b)(c)

     42,336,940         41,895,790   

Ziggo Financing Partnership, USD Term Loan B2A, 3.500%-3.601%, 01/15/22(b)(c)

     27,282,723         26,998,438   

Ziggo Financing Partnership, USD Term Loan B3, 3.601%, 01/15/22(b)(c)

     44,870,336         44,402,787   
    

 

 

  
       282,607,901   
    

 

 

  

Chemicals 4.4%

  

   

Axalta Coating Systems US Holdings, Inc., USD Term Loan, 3.750%, 02/01/20(b)(c)

     10,182,995         10,110,900   

Chemours Co., (The), Term Loan B, 3.750%, 05/12/22(b)(c)

     10,024,250         9,548,098   

Gemini HDPE LLC, Term Loan B, 4.750%, 08/07/21(b)(c)(e)

     15,741,229         15,524,787   

Huntsman International LLC, 2016 Term Loan B, 03/23/23(b)(e)(f)

     13,200,000         13,134,000   

Ineos Group Holdings S.A., US 2020 Term Loan, 3.750%, 12/15/20(b)(c)

     59,084,836         58,050,851   

Ineos US Finance LLC, USD 6 Year Term Loan, 3.750%, 05/04/18(b)(c)

     8,496,409         8,390,204   

Ineos US Finance LLC, 2015 USD Term Loan, 4.250%, 03/31/22(b)(c)

     5,172,723         5,091,925   

Kraton Polymers LLC, Term Loan B, 6.000%, 01/06/22(b)(c)(e)

     8,385,000         7,896,574   

MacDermid, Inc., USD 1st Lien Term Loan, 5.500%, 06/07/20(b)(c)

     11,278,855         10,873,493   
     Shares or
Principal
Amount($)		      Value($)  

Chemicals—continued

  

   

MacDermid, Inc., USD Term Loan B3, 5.500%, 06/07/20(b)(c)

     8,044,575         7,762,049   

Minerals Technologies, Inc., 2015 Term Loan B1,
3.750%-5.500%, 05/09/21(b)(c)

     9,827,184         9,778,048   

Minerals Technologies, Inc., Fixed Rate Term Loan, 4.750%, 05/09/21(b)(c)

     3,580,000         3,575,525   

Styrolution US Holding LLC, USD Term Loan B, 6.500%, 11/07/19(b)(c)

     23,393,875         23,452,360   

Univar Inc., 2015 Term Loan, 4.250%, 07/01/22(b)(c)

     8,905,250         8,766,150   
    

 

 

  
       191,954,964   
    

 

 

  

Consumer Durables 0.1%

  

   

Steinway Musical Instruments, Inc., 1st Lien Term Loan, 4.750%, 09/19/19(b)(c)

     5,804,295         5,572,123   
    

 

 

  

Consumer Non-Durables 0.9%

  

   

Coty, Inc., USD Term Loan B, 3.750%, 10/27/22(b)(c)

     3,191,667         3,180,496   

Eastman Kodak Co., Exit Term Loan, 7.250%, 09/03/19(b)(c)

     8,949,239         8,516,722   

Galleria Co., USD Term Loan B, 3.750%, 01/26/23(b)(c)

     8,128,333         8,097,852   

Party City Holdings, Inc., 2015 Term Loan B, 4.250%, 08/19/22(b)(c)

     6,129,420         6,073,213   

Spectrum Brands, Inc., USD Term Loan, 3.500%, 06/23/22(b)(c)

     3,338,729         3,346,241   

Varsity Brands, Inc., 1st Lien Term Loan, 5.000%-6.500%, 12/11/21(b)(c)

     8,870,088         8,836,825   
    

 

 

  
       38,051,349   
    

 

 

  

Diversified Media 6.4%

  

   

Affinion Group, Inc., Term Loan B, 6.750%, 04/30/18(b)(c)

     5,003,344         4,424,407   

ALM Media Holdings, Inc., 1st Lien Term Loan, 5.500%, 07/31/20(b)(c)

     5,144,563         4,887,334   

AP NMT Acquisition BV, USD 1st Lien Term Loan, 6.750%, 08/13/21(b)(c)

     10,480,078         9,117,668   

Deluxe Entertainment Services Group, Inc., Term Loan 2014, 6.500%, 02/28/20(b)(c)

     15,875,402         15,022,099   
 

 

See Notes to Financial Statements.

 

47

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Diversified Media—continued

  

   

Emerald Expositions Holding, Inc., Term Loan B, 4.750%, 06/17/20(b)(c)

     5,972,762         5,927,966   

Harland Clarke Holdings Corp., Extended Term Loan B2, 5.881%, 06/30/17(b)(c)

     20,038,031         19,737,460   

Harland Clarke Holdings Corp., Term Loan B4, 6.000%, 08/04/19(b)(c)

     31,900,433         30,704,167   

Harland Clarke Holdings Corp., Term Loan B3, 7.000%, 05/22/18(b)(c)(g)

     94,499,301         92,727,439   

Learfield Communications, Inc., New 1st Lien Term Loan, 4.250%, 10/09/20(b)(c)

     4,073,672         4,048,212   

Lions Gate Entertainment Corp., 2015 2nd Lien Term Loan, 5.000%, 03/17/22(b)(c)

     14,085,000         13,697,663   

Live Nation Entertainment, Inc., 2020 Term Loan B1, 3.500%, 08/16/20(b)(c)

     9,487,717         9,475,858   

McGraw-Hill Global Education Holdings LLC, 2015 Term Loan B,
4.750%-6.250%, 03/22/19(b)(c)

     3,568,785         3,553,904   

Merrill Communications LLC, 2015 Term Loan, 6.250%, 06/01/22(b)(c)

     8,707,612         6,987,858   

Quincy Newspapers, Inc., Term Loan B,
5.500%-7.000%, 10/13/22(b)(c)

     5,990,765         5,885,926   

Rovi Solutions Corp., New Term Loan B, 3.750%, 07/02/21(b)(c)

     7,702,788         7,587,246   

William Morris Endeavor Entertainment LLC, 1st Lien Term Loan, 5.250%, 05/06/21(b)(c)

     34,503,434         34,438,913   

William Morris Endeavor Entertainment LLC, 2nd Lien Term Loan, 8.250%, 05/06/22(b)(c)

     8,855,000         8,412,250   

WMG Acquisition Corp., New Term Loan, 3.750%, 07/01/20(b)(c)

     4,382,686         4,315,105   
    

 

 

  
       280,951,475   
    

 

 

  

Energy 4.7%

     

Alon USA Energy, Inc., Master Limited Partnership Term Loan, 9.250%, 11/26/18(b)(c)

     17,790,763         17,701,809   
     Shares or
Principal
Amount($)		      Value($)  

Energy—continued

     

Azure Midstream Energy LLC, Term Loan B, 7.500%, 11/15/18(b)(c)

     7,471,851         3,735,926   

Chief Exploration & Development LLC, 2nd Lien Term Loan, 7.500%, 05/16/21(b)(c)

     3,210,000         1,875,186   

CITGO Holding, Inc., 2015 Term Loan B, 9.500%, 05/12/18(b)(c)

     37,318,047         37,329,615   

Drillships Financing Holding, Inc., Term Loan B1, 6.000%, 03/31/21(b)(c)

     25,293,030         8,994,960   

EMG Utica LLC, Term Loan, 4.750%, 03/27/20(b)(c)

     20,710,530         15,947,108   

Energy Transfer Equity, L.P., New Term Loan, 3.250%, 12/02/19(b)(c)(e)

     63,012,288         55,968,144   

EP Energy LLC, Term Loan B2, 04/30/19(b)(e)(f)

     315,426         206,604   

FTS International, Inc., New Term Loan B, 5.750%, 04/16/21(c)(d)

     15,936,000         1,872,480   

Glenn Pool Oil & Gas Trust, Term Loan, 4.500%, 05/02/16(c)(d)

     1,847,611         1,829,135   

HGIM Corp., Term Loan B, 5.500%, 06/18/20(b)(c)

     6,973,082         3,713,166   

KCA Deutag US Finance LLC, Term Loan, 6.250%, 05/15/20(b)(c)

     6,159,781         4,147,566   

Osum Productions Corp., Term Loan, 6.500%, 07/28/20(c)(d)

     1,302,600         560,118   

Philadelphia Energy Solutions LLC, Term Loan B, 6.250%, 04/04/18(b)(c)

     14,716,419         13,980,598   

Pinnacle Holdco S.A.R.L., Term Loan, 4.750%, 07/30/19(b)(c)

     3,269,485         2,354,029   

Seadrill Partners Finco LLC, Term Loan B, 4.000%, 02/21/21(b)(c)

     17,063,712         7,508,033   

Sheridan Investment Partners II L.P., Term Loan B, 4.250%, 12/16/20(c)(d)

     4,771,947         1,908,779   

Sheridan Investment Partners II L.P., Term Loan A, 4.250%, 12/16/20(c)(d)

     663,812         265,525   

Sheridan Investment Partners II L.P., Term Loan M, 4.250%, 12/16/20(c)(d)

     247,566         99,026   
 

 

See Notes to Financial Statements.

 

48

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Energy—continued

     

Southcross Holdings Borrower LP, Term Loan B, 7.500%, 08/04/21(b)(c)

     4,383,250         449,283   

Stonewall Gas Gathering LLC, Term Loan B, 8.750%, 01/28/22(b)(c)

     8,652,746         8,522,954   

Templar Energy LLC, New 2nd Lien Term Loan, 8.500%, 11/25/20(b)(c)(h)

     56,810,000         5,624,190   

Western Refining, Inc., Term Loan B, 4.250%, 11/12/20(b)(c)

     10,012,317         9,711,948   
    

 

 

  
       204,306,182   
    

 

 

  

Financial 1.0%

     

Grosvenor Capital Management Holdings LLP, New Term Loan B, 3.750%, 01/04/21(b)(c)

     6,387,501         6,243,782   

RCS Capital Corp., 1st Lien Term Loan, 7.500%, 04/29/19(c)(d)

     12,122,563         8,000,891   

RCS Capital Corp., Delayed Draw DIP Term Loan, 8.000%, 08/08/16(b)(c)

     1,585,000         1,585,000   

Starwood Property Trust, Inc., Term Loan B, 3.500%, 04/17/20(b)(c)

     6,146,233         6,084,771   

USI, Inc., Term Loan B, 4.250%, 12/27/19(b)(c)

     9,592,293         9,432,390   

Victory Capital Management, Inc., Term Loan B, 7.000%, 10/31/21(c)(d)

     5,711,875         5,511,959   

Walter Investment Management Corp., 2013 Term Loan, 12/19/20(b)(e)(f)

     5,575,607         4,839,627   
    

 

 

  
       41,698,420   
    

 

 

  

Food and Drug 0.9%

     

Albertsons LLC, Term Loan B3, 5.125%, 08/25/19(b)(c)

     7,186,750         7,177,767   

Albertsons LLC, Term Loan B2, 5.500%, 03/21/19(b)(c)

     28,237,048         28,221,235   

Albertsons LLC, Term Loan B4, 5.500%, 08/25/21(b)(c)

     2,608,650         2,609,954   
    

 

 

  
       38,008,956   
    

 

 

  

Food/Tobacco 1.4%

     

1011778 B.C. Unlimited Liability Company, Term Loan B2, 3.750%, 12/10/21(b)(c)

     26,315,643         26,279,064   
     Shares or
Principal
Amount($)		      Value($)  

Food/Tobacco—continued

     

JBS USA LLC, Incremental Term Loan, 3.750%, 09/18/20(b)(c)

     10,900,500         10,818,746   

JBS USA LLC, 2015 Term Loan B, 4.000%, 10/30/22(b)(c)

     6,578,513         6,537,397   

Landry’s, Inc., Term Loan B, 4.000%, 04/24/18(b)(c)

     5,238,288         5,220,268   

Maple Holdings Acquisition Corp., USD Term Loan B, 5.250%, 03/03/23(b)(c)

     12,874,667         12,853,166   
    

 

 

  
       61,708,641   
    

 

 

  

Forest Prod/Containers 1.5%

  

   

Ardagh Holdings USA, Inc., Incremental Term Loan, 4.000%, 12/17/19(b)(c)

     7,207,900         7,195,863   

Berry Plastics Holding Corp., Term Loan D, 3.500%, 02/08/20(b)(c)(g)

     33,420,207         33,253,106   

Caraustar Industries, Inc., Term Loan B, 8.000%, 05/01/19(b)(c)

     9,310,580         9,054,539   

Mauser US Corporate LLC, USD 2nd Lien Term Loan, 8.750%, 07/31/22(b)(c)

     3,610,000         3,107,993   

Owens-Illinois Inc., Term Loan B, 3.500%, 09/01/22(b)(c)

     3,490,812         3,490,812   

Signode Industrial Group US, Inc., USD Term Loan B, 3.750%, 05/01/21(b)(c)(e)

     10,320,392         10,010,780   
    

 

 

  
       66,113,093   
    

 

 

  

Gaming/Leisure 8.3%

  

   

Amaya Holdings B.V., USD 1st Lien Term Loan, 5.000%, 08/01/21(b)(c)

     17,466,124         16,012,768   

Belmond Interfin Ltd., USD Term Loan B, 4.000%, 03/21/21(b)(c)

     9,692,200         9,558,932   

Boyd Gaming Corp., Term Loan B, 4.000%, 08/14/20(b)(c)

     5,475,118         5,469,971   

Caesars Entertainment Operating Co., Term Loan B7(Non RSA), 03/01/17(b)(c)(h)

     18,571,675         17,039,512   

Caesars Entertainment Operating Co., Extended Term Loan B6, 03/01/17(b)(c)

     75,756,845         69,453,118   

Caesars Entertainment Resort Properties LLC, Term Loan B, 7.000%, 10/11/20(b)(c)

     45,942,721         42,313,246   
 

 

See Notes to Financial Statements.

 

49

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Gaming/Leisure—continued

  

   

Diamond Resorts Corp., New Term Loan, 5.500%, 05/09/21(b)(c)

     9,910,200         9,612,894   

Diamond Resorts Corp., Incremental Term Loan, 5.500%, 05/09/21(b)(c)

     4,355,000         4,202,575   

Four Seasons Holdings, Inc., New 1st Lien Term Loan, 3.500%, 06/27/20(b)(c)

     14,931,698         14,805,675   

Four Seasons Holdings, Inc., 2nd Lien Term Loan, 6.250%, 12/27/20(b)(c)

     7,111,600         7,028,608   

Global Cash Access LLC, New Term Loan B, 6.250%, 12/18/20(b)(c)

     8,653,125         8,009,592   

Hilton Worldwide Finance LLC, USD Term Loan B2, 3.500%, 10/26/20(b)(c)

     92,208,795         92,180,210   

La Quinta Intermediate Holdings LLC, Term Loan B, 3.750%, 04/14/21(b)(c)

     15,106,533         14,816,941   

LTF Merger Sub, Inc., Term Loan B, 4.250%, 06/10/22(b)(c)

     3,306,915         3,262,272   

MGM Resorts International, Term Loan A, 3.183%, 12/20/17(b)(c)

     2,288,494         2,280,484   

MGM Resorts International, Term Loan B, 3.500%, 12/20/19(b)(c)

     16,095,684         16,049,650   

Mohegan Tribal Gaming Authority, New Term Loan B, 5.500%, 06/15/18(b)(c)

     8,596,684         8,301,216   

Playa Resorts Holding B.V., Term Loan B, 4.000%, 08/09/19(b)(c)

     6,059,625         5,908,134   

Scientific Games International, Inc., 2014 Term Loan B1, 6.000%, 10/18/20(b)(c)

     17,836,611         17,245,863   
    

 

 

  
       363,551,661   
    

 

 

  

Healthcare 6.7%

     

Alere, Inc., 2015 Term Loan A, 3.440%, 06/18/20(b)(c)

     6,422,314         6,352,761   

Ardent Legacy Acquisitions, Inc., 2015 Term Loan B, 6.500%, 08/04/21(b)(c)

     4,363,075         4,363,075   

CDRH Parent, Inc., New 1st Lien Term Loan, 5.250%, 07/01/21(b)(c)

     1,974,937         1,803,769   
     Shares or
Principal
Amount($)		      Value($)  

Healthcare—continued

     

Community Health Systems, Inc., New Term Loan A, 2.886%, 01/22/19(b)(c)

     8,250,000         8,002,500   

Community Health Systems, Inc., Term Loan F, 3.683%-3.886%, 12/31/18(b)(c)

     28,893,863         28,579,787   

Community Health Systems, Inc., Term Loan G, 3.750%, 12/31/19(b)(c)

     14,867,054         14,586,215   

Community Health Systems, Inc., Term Loan H, 4.000%, 01/27/21(b)(c)

     13,844,965         13,596,863   

Convatec, Inc., USD Term Loan, 4.250%, 06/15/20(b)(c)

     9,661,257         9,564,645   

DPx Holdings B.V., 2014 USD Incremental Term Loan, 4.250%, 03/11/21(b)(c)

     8,378,938         8,062,968   

Emdeon Business Services LLC, Term Loan B2, 3.750%, 11/02/18(b)(c)

     6,082,967         6,049,510   

Endo Luxembourg Finance Co. I S.A R.L., 2015 Term Loan B, 3.750%, 09/26/22(b)(c)

     19,236,788         18,924,190   

eResearchTechnology, Inc., Term Loan B, 5.500%, 05/08/22(b)(c)

     5,290,025         5,280,133   

Genoa, a QoL Healthcare Co. LLC, 2nd Lien Term Loan, 8.750%, 04/30/23(b)(c)

     945,000         878,850   

Greatbatch Ltd., Term Loan B, 5.250%, 10/27/22(b)(c)(e)

     11,150,000         11,132,606   

Grifols Worldwide Operations USA, Inc., USD Term Loan B, 3.433%, 02/27/21(b)(c)

     16,288,867         16,266,877   

Halyard Health, Inc., Term Loan B, 4.000%, 11/01/21(b)(c)

     5,592,358         5,564,396   

IMS Health Incorporated, New USD Term Loan, 3.500%, 03/17/21(b)(c)

     5,958,714         5,940,123   

Indivior Finance S.a.r.l., USD Term Loan B, 7.000%, 12/19/19(b)(c)

     9,558,503         9,048,748   

inVentiv Health, Inc., Term Loan B4, 7.750%, 05/15/18(b)(c)

     11,200,000         11,172,000   

Kindred Healthcare, Inc., New Term Loan, 4.250%, 04/09/21(b)(c)

     6,859,606         6,653,818   
 

 

See Notes to Financial Statements.

 

50

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Healthcare—continued

     

Kinetic Concepts, Inc., USD Term Loan E1, 4.500%, 05/04/18(b)(c)

     4,798,636         4,770,132   

Lannett Co., Inc., Term Loan A, 11/25/20(b)(e)(f)

     4,270,938         3,971,972   

MI Opco Holdings, Inc., Term Loan, 5.750%, 10/27/22(b)(c)

     8,497,125         8,475,882   

MPH Acquisition Holdings LLC, Term Loan, 3.750%, 03/31/21(b)(c)

     24,146,079         23,892,545   

RCHP, Inc., 1st Lien Term Loan, 6.000%, 04/23/19(b)(c)

     17,521,525         17,382,754   

RCHP, Inc., 2nd Lien Term Loan, 11.250%, 10/23/19(b)(c)

     1,790,000         1,798,950   

RPI Finance Trust, Term Loan B4, 3.500%, 11/09/20(b)(c)

     31,625,012         31,688,262   

Surgical Care Affiliates, Inc., Term Loan B, 4.250%, 03/17/22(b)(c)

     985,025         980,918   

U.S. Renal Care, Inc., 2015 Term Loan B, 5.250%, 12/31/22(b)(c)

     2,892,750         2,879,501   

Valeant Pharmaceuticals International, Inc., Series A3 Tranche A, 10/20/18(b)(e)(f)

     2,590,000         2,470,212   
    

 

 

  
       290,134,962   
    

 

 

  

Housing 1.5%

     

ABC Supply Co., Inc., Term Loan, 3.500%, 04/16/20(b)(c)

     5,533,032         5,524,733   

Beazer Homes USA, Inc., Term Loan, 6.406%, 03/11/18(b)(c)

     4,545,000         4,499,550   

Continental Building Products LLC, 1st Lien Term Loan, 4.000%, 08/28/20(b)(c)

     7,959,389         7,772,820   

DTZ U.S. Borrower LLC, 2nd Lien Term Loan, 11/04/22(b)(e)(f)

     2,530,000         2,479,400   

DTZ U.S. Borrower LLC, 2015 1st Lien Term Loan, 4.250%, 11/04/21(b)(c)

     31,983,213         31,663,381   

IMC OP, LP, 2nd Lien Term Loan, 08/15/21(b)(e)(f)

     500,000         455,000   

Quikrete Holdings, Inc., 1st Lien Term Loan, 4.000%, 09/28/20(b)(c)

     4,715,492         4,703,703   

Realogy Corp., New Term Loan B, 3.750%, 03/05/20(b)(c)

     9,484,023         9,468,185   
    

 

 

  
       66,566,772   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Information Technology 8.0%

  

Active Network, Inc. (The), 1st Lien Term Loan, 5.500%, 11/13/20(c)(d)

     6,086,005         5,766,490   

Aricent Technologies, 1st Lien Term Loan, 5.500%, 04/14/21(b)(c)

     3,082,998         2,705,331   

Arris Group, Inc., 2015 Term Loan A, 06/18/20(b)(e)(f)

     3,430,449         3,400,432   

Arris Group, Inc., 2015 Term Loan B, 3.250%, 04/17/20(b)(c)

     11,595,008         11,302,234   

Avago Technologies Cayman Ltd., 2016 USD Term Loan B1, 4.250%, 02/01/23(b)(c)

     97,450,000         96,907,203   

Avaya, Inc., Term Loan B7, 6.250%, 05/29/20(b)(c)

     58,985,032         39,246,281   

Avaya, Inc., Term Loan B6, 6.500%, 03/30/18(b)(c)

     9,557,913         7,001,171   

Blackboard, Inc., Term Loan B3, 4.750%, 10/04/18(b)(c)

     10,198,129         9,428,987   

CompuCom Systems, Inc., Refinance Term Loan B, 4.250%, 05/11/20(b)(c)

     6,566,522         4,596,565   

Dell International LLC, USD Term Loan B2, 4.000%, 04/29/20(b)(c)

     22,948,464         22,923,909   

Imagine! Print Solutions, Inc., Term Loan B, 03/16/22(b)(e)(f)

     2,530,000         2,530,000   

Infor(US), Inc., USD Term Loan B5, 3.750%, 06/03/20(b)(c)

     6,928,864         6,709,080   

Infor(US), Inc., USD Term Loan B3, 3.750%, 06/03/20(b)(c)

     7,512,095         7,274,187   

Internap Corp., Term Loan, 6.000%, 11/26/19(b)(c)

     9,167,256         8,067,185   

iParadigms Holdings LLC, 1st Lien Term Loan, 5.000%, 07/31/21(b)(c)

     3,196,325         3,004,546   

IPC Corp., 2015 Term Loan B, 5.500%, 08/06/21(b)(c)

     5,222,250         4,839,302   

NXP B.V., 2015 Term Loan B, 3.750%, 12/07/20(b)(c)

     8,683,238         8,696,783   

ON Semiconductor Corp., Term Loan B, 03/31/23(b)(e)(f)

     4,435,000         4,436,375   
 

 

See Notes to Financial Statements.

 

51

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Information Technology—continued

  

Presidio, Inc., Refinance Term Loan, 5.250%, 02/02/22(b)(c)

     10,791,403         10,575,575   

Riverbed Technology, Inc., Term Loan B, 6.000%, 04/24/22(b)(c)

     8,199,862         8,215,933   

Semiconductor Components Industries LLC, Term Loan A,
2.362%, 01/02/18(c)(d)

     30,737,198         29,968,768   

Sirius Computer Solutions, Inc., 1st Lien Term Loan, 6.000%, 10/30/22(b)(c)

     4,612,584         4,566,458   

Solera Holdings, Inc., USD Term Loan B, 5.750%, 03/03/23(b)(c)

     2,000,000         1,996,080   

Southern Graphics, Inc., New Term Loan B,
4.250%, 10/17/19(b)(c)

     6,734,000         6,658,243   

SS&C Technologies, Inc., 2015 Term Loan B1,
4.000%-4.083%, 07/08/22(b)(c)

     3,704,933         3,710,157   

SS&C Technologies, Inc., 2015 Term Loan B2,
4.000%-4.083%, 07/08/22(b)(c)

     537,052         537,809   

TTM Technologies, Inc., 1st Lien Term Loan, 6.000%, 05/31/21(b)(c)

     10,471,685         9,921,921   

Vertafore, Inc., 1st Lien Term Loan, 4.250%, 10/03/19(b)(c)

     4,840,598         4,830,530   

Western Digital Corp., USD Term Loan B, 03/16/23(b)(e)(f)

     12,650,000         12,487,954   

Zebra Technologies Corp., Term Loan B, 4.750%, 10/27/21(b)(c)

     7,105,506         7,143,094   
    

 

 

  
       349,448,583   
    

 

 

  

Manufacturing 0.6%

     

Dynacast International LLC, Term Loan B, 4.500%, 01/28/22(b)(c)

     6,900,300         6,839,922   

LTI Holdings, Inc., 2nd Lien Term Loan, 10.250%, 04/16/23(b)(c)

     2,325,000         1,953,000   

Mirror Bidco Corp., New Term Loan, 4.250%, 12/28/19(b)(c)

     11,586,867         11,466,132   

Otter Products LLC, 2014 Term Loan, 5.750%, 06/03/20(b)(c)

     6,971,493         5,995,484   
    

 

 

  
       26,254,538   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Metals/Minerals 3.0%

     

Atkore International, Inc., 1st Lien Term Loan, 4.500%, 04/09/21(b)(c)

     11,647,463         11,327,158   

Atkore International, Inc., 2nd Lien Term Loan, 7.750%, 10/09/21(b)(c)

     3,715,000         3,380,650   

Atlas Iron Ltd., Term Loan B, 8.750%, 12/10/17(c)(d)

     8,473,792         932,117   

FMG Resources (August 2006) Pty Ltd., New Term Loan B, 4.250%, 06/30/19(b)(c)

     114,878,108         96,880,155   

Novelis, Inc., 2015 Term Loan B, 4.000%, 06/02/22(b)(c)

     18,436,471         17,929,468   
    

 

 

  
       130,449,548   
    

 

 

  

Retail 8.1%

     

BJ’s Wholesale Club, Inc., New 2nd Lien Term Loan,
8.500%, 03/26/20(b)(c)

     11,199,201         10,285,795   

Capital Automotive LP, New Term Loan B, 4.000%, 04/10/19(b)(c)(g)

     29,678,498         29,678,498   

Capital Automotive LP, New 2nd Lien Term Loan, 6.000%, 04/30/20(b)(c)

     19,425,000         19,352,156   

CWGS Group LLC, Term Loan, 5.750%, 02/20/20(b)(c)

     14,950,067         14,613,691   

Dollar Tree, Inc., Term Loan B1, 3.500%, 07/06/22(b)(c)

     24,621,510         24,695,375   

Dollar Tree, Inc., Term Loan B2, 4.250%, 07/06/22(b)(c)

     25,055,000         25,013,158   

Hudson’s Bay Co., 2015 Term Loan B, 4.750%, 09/30/22(b)(c)

     15,919,355         15,859,657   

J. Crew Group, Inc., New Term Loan B, 4.000%, 03/05/21(b)(c)

     24,900,987         19,325,407   

J.C. Penney Corp., Inc., 1st Lien Term Loan, 6.000%, 05/22/18(b)(c)

     52,042,239         52,094,281   

Kate Spade & Co., Term Loan B, 4.000%, 04/10/21(b)(c)

     6,540,400         6,442,294   

Men’s Wearhouse, Inc. (The), Term Loan B, 4.500%, 06/18/21(b)(c)

     3,042,256         2,922,482   
 

 

See Notes to Financial Statements.

 

52

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Retail—continued

     

Men’s Wearhouse, Inc. (The), 2015 Term Loan, 5.000%, 06/18/21(b)(c)

     425,000         401,625   

Michaels Stores, Inc., Term Loan B, 3.750%, 01/28/20(b)(c)

     9,382,755         9,354,888   

Neiman Marcus Group, Inc. (The), 2020 Term Loan, 4.250%, 10/25/20(b)(c)

     13,378,866         12,231,628   

PetSmart, Inc., Term Loan B, 4.250%, 03/11/22(b)(c)

     13,454,492         13,390,583   

Sears Holding Corp., Incremental Term Loan, 07/20/20(b)(e)(f)

     7,290,000         7,180,650   

Sears Roebuck Acceptance Corp., 2015 Term Loan, 5.500%, 06/30/18(b)(c)

     35,365,136         33,596,880   

Toys ‘R’ Us Property Co. I LLC, New Term Loan B, 6.000%, 08/21/19(b)(c)

     31,375,126         27,531,673   

Toys ‘R’ Us-Delaware, Inc., Term Loan B3, 5.250%, 05/25/18(b)(c)

     1,132,738         953,391   

Toys ‘R’ Us-Delaware, Inc., FILO Term Loan, 8.250%, 10/24/19(b)(c)

     3,404,464         3,298,075   

Toys ‘R’ Us-Delaware, Inc., FILO CAD Term Loan, 8.250%, 10/24/19(b)(c)

     2,745,536         2,659,738   

Toys ‘R’ Us-Delaware, Inc., Term Loan B4, 9.750%, 04/24/20(b)(c)

     25,219,338         20,259,451   
    

 

 

  
       351,141,376   
    

 

 

  

Service 9.1%

     

4L Holdings LLC, 1st Lien Term Loan,
5.500%-7.000%, 05/08/20(c)(d)

     1,552,930         1,389,872   

ADS Waste Holdings, Inc., Term Loan B2, 3.750%, 10/09/19(b)(c)

     10,790,895         10,691,942   

Asurion LLC, New Term Loan B2, 4.250%, 07/08/20(b)(c)

     37,885,900         36,465,179   

Asurion LLC, New Term Loan B1, 5.000%, 05/24/19(b)(c)(g)

     21,411,072         21,089,906   

Asurion LLC, Term Loan B4, 5.000%, 08/04/22(b)(c)

     45,334,625         44,343,157   
     Shares or
Principal
Amount($)		      Value($)  

Service—continued

     

Asurion LLC, New 2nd Lien Term Loan, 8.500%, 03/03/21(b)(c)

     44,086,489         41,184,276   

Evertec Group LLC, New Term Loan A, 2.682%, 04/17/18(b)(c)

     16,422,000         15,436,680   

First Data Corp., Extended 2021 Term Loan, 03/24/21(b)(e)(f)

     7,175,000         7,151,466   

First Data Corp., New 2018 Extended Term Loan, 3.932%, 03/24/18(b)(c)

     65,641,994         65,461,479   

First Data Corp., New 2018 Term Loan, 3.932%, 09/24/18(b)(c)

     33,273,139         33,203,931   

First Data Corp., 2022 Term Loan, 4.182%, 07/08/22(b)(c)

     19,347,407         19,211,975   

IQOR US, Inc., Term Loan B, 6.000%, 04/01/21(b)(c)

     28,869,412         23,312,050   

RedTop Luxembourg S.A.R.L., USD 2nd Lien Term Loan,
8.250%, 06/03/21(b)(c)

     5,252,800         4,924,500   

Sedgwick Claims Management Services, Inc., 1st Lien Term Loan, 3.750%, 03/01/21(b)(c)

     24,696,517         23,996,865   

Sedgwick Claims Management Services, Inc., 2nd Lien Term Loan, 6.750%, 02/28/22(b)(c)

     9,490,000         8,790,112   

Spin Holdco, Inc., New Term Loan B, 4.250%, 11/14/19(b)(c)

     8,292,704         8,066,728   

STG-Fairway Acquisitions, Inc., 2015 1st Lien Term Loan, 6.250%, 06/30/22(b)(c)

     3,294,254         3,195,427   

TransUnion LLC, Term Loan B2, 3.500%, 04/09/21(b)(c)(e)

     9,133,333         9,037,433   

Travelport Finance(Luxembourg) S.A.R.L., 2014 Term Loan B, 5.750%, 09/02/21(b)(c)

     19,161,929         19,128,395   

Weight Watchers International, Inc., Term Loan B2, 04/02/20(b)(e)(f)

     1,994,859         1,466,221   
    

 

 

  
       397,547,594   
    

 

 

  

Telecommunications 7.2%

     

Altice Financing SA, USD Term Loan, 5.250%, 02/04/22(b)(c)

     4,396,775         4,400,424   
 

 

See Notes to Financial Statements.

 

53

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Telecommunications—continued

  

   

Altice Financing SA, Delayed Draw Term Loan, 5.500%, 07/02/19(b)(c)

     73,170,082         73,279,837   

Altice US Finance I Corp., USD Extended Term Loan, 4.250%, 12/14/22(b)(c)

     23,629,395         23,492,817   

Frontier Communications Corp., Unsecured Term Loan, 2.815%, 10/14/16(b)(c)

     532,586         521,934   

Integra Telecom, Inc., 2015 1st Lien Term Loan, 5.250%, 08/14/20(b)(c)

     7,829,248         7,363,408   

Level 3 Financing, Inc., 2015 Term Loan B2, 3.500%, 05/31/22(b)(c)

     1,000,000         997,290   

Level 3 Financing, Inc., 2013 Term Loan B, 4.000%, 01/15/20(b)(c)(g)

     86,095,000         86,283,548   

LTS Buyer LLC, 1st Lien Term Loan, 4.000%, 04/13/20(b)(c)

     10,370,770         10,241,135   

New Lightsquared LLC, 2015 2nd Lien Term Loan, 13.500%, 12/07/20(b)(c)

     13,054,146         9,072,631   

Numericable Group SA, USD Term Loan B5, 4.563%, 07/31/22(b)(c)

     6,114,675         6,034,451   

Numericable U.S. LLC, USD Term Loan B2, 4.500%, 05/21/20(b)(c)

     26,415,031         26,193,937   

Numericable U.S. LLC, USD Term Loan B1, 4.500%, 05/21/20(b)(c)

     30,532,797         30,277,238   

Sable International Finance Ltd., Term Loan B1, 11/23/22(b)(e)(f)

     3,718,000         3,703,388   

Sable International Finance Ltd., Term Loan B2, 11/23/22(b)(e)(f)

     3,042,000         3,030,045   

Zayo Group LLC, PIK, Term Loan B, 3.750%, 05/06/21(b)(c)(g)

     29,505,470         29,333,453   
    

 

 

  
       314,225,536   
    

 

 

  

Transportation 1.6%

     

Commercial Barge Line Co., 2015 1st Lien Term Loan,
9.750%, 11/12/20(b)(c)

     8,730,000         7,769,700   

CS Intermediate Holdco 2 LLC, New Term Loan B, 4.000%, 04/04/21(b)(c)

     6,961,013         6,895,788   
     Shares or
Principal
Amount($)		      Value($)  

Transportation—continued

     

FCA US LLC, 2018 Term Loan B, 3.250%, 12/31/18(b)(c)

     6,217,481         6,205,855   

FCA US LLC, New Term Loan B, 3.500%, 05/24/17(b)(c)

     3,171,222         3,169,034   

Gruden Acquisition, Inc., 1st Lien Term Loan,
5.750%, 08/18/22(b)(c)

     4,374,038         3,780,831   

KAR Auction Services, Inc., Term Loan B3,
4.250%, 03/09/23(b)(c)

     1,575,000         1,578,276   

MPG Holdco I Inc., 2015 Term Loan B, 3.750%, 10/20/21(b)(c)

     6,467,062         6,371,414   

Navios Maritime Midstream Partners L.P., Term Loan B,
5.500%, 06/18/20(c)(d)

     2,689,675         2,363,552   

Navios Partners Finance (US), Inc., Term Loan B, 5.250%, 06/27/18(c)(d)

     15,811,197         13,755,741   

Tower Automotive Holdings USA LLC, New Term Loan,
4.000%, 04/23/20(b)(c)

     8,589,071         8,513,916   

Visteon Corp., Delayed Draw Term Loan B,
3.500%, 04/09/21(b)(c)

     2,746,667         2,737,520   

Wabash National Corp., 2015 Term Loan B,
4.250%-5.750%, 03/16/22(b)(c)

     7,749,231         7,716,917   
    

 

 

  
       70,858,544   
    

 

 

  

Utility 4.0%

  

Bronco Midstream Funding LLC, Term Loan B, 5.000%, 08/15/20(c)(d)

     18,090,830         10,854,498   

Calpine Construction Finance Co., L.P., Original Term Loan B1, 3.000%, 05/03/20(b)(c)

     22,348,050         21,845,219   

Calpine Corp., Term Loan B3, 4.000%, 10/09/19(b)(c)

     32,524,755         32,362,132   

Calpine Corp., Delayed Draw Term Loan, 4.000%, 10/31/20(b)(c)

     8,981,528         8,897,371   

Empire Generating Co. LLC, Term Loan B, 5.250%, 03/14/21(b)(c)

     15,152,246         12,576,364   

Empire Generating Co. LLC, Term Loan C, 5.250%, 03/14/21(b)(c)

     1,111,304         922,383   
 

 

See Notes to Financial Statements.

 

54

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Utility—continued

  

Green Energy Partners/Stonewall LLC, Delayed Draw Term Loan B2, 6.500%, 11/10/21(b)(c)

     1,000,000         920,000   

Green Energy Partners/Stonewall LLC, Term Loan B1, 6.500%, 11/13/21(b)(c)

     4,475,000         4,161,750   

La Frontera Generation LLC, Term Loan, 4.500%, 09/30/20(b)(c)

     19,362,956         18,757,864   

Lonestar Generation LLC, Term Loan B, 5.250%, 02/22/21(c)(d)

     6,812,769         4,326,108   

Longview Power LLC, Term Loan B, 7.000%, 04/13/21(b)(c)

     4,549,640         4,015,057   

NRG Energy, Inc., Refinance Term Loan B, 2.750%, 07/02/18(b)(c)

     5,447,064         5,385,784   

Panda Temple II Power LLC, New Term Loan B, 7.250%, 04/03/19(b)(c)

     4,673,288         3,902,195   

Power Team Services LLC, 1st Lien Term Loan, 4.250%, 05/06/20(b)(c)

     15,136,896         14,834,158   

Power Team Services LLC, 2nd Lien Term Loan, 8.250%, 11/06/20(b)(c)

     7,890,000         7,298,250   

Texas Competitive Electric Holdings Co. LLC, Non-Extended Term Loan, 10/10/16(b)(e)(f)(h)

     10,000,000         2,783,300   

Texas Competitive Electric Holdings Co. LLC, Extended Term Loan,
10/10/17(b)(e)(f)(h)

     5,000,000         1,425,000   

TPF Generation Holdings LLC, Term Loan B, 4.750%, 12/31/17(b)(c)

     22,295,457         21,069,207   
    

 

 

  
       176,336,640   
    

 

 

  

Wireless Communications 0.6%

  

NTELOS, Inc., New Term Loan B, 5.750%, 11/09/19(b)(c)

     21,161,855         21,003,142   

Syniverse Holdings, Inc., Term Loan B, 4.000%, 04/23/19(b)(c)

     6,682,042         4,933,552   
     Shares or
Principal
Amount($)		      Value($)  

Wireless Communications—continued

  

Syniverse Holdings, Inc., Term Loan, 4.000%, 04/23/19(b)(c)

     1,113,013         821,548   
    

 

 

  
       26,758,242   
    

 

 

  

Total Bank Loans
(Cost $4,392,472,918)

   

      4,094,295,501   
    

 

 

  
Corporate Bonds 2.0%   

Auto Manufacturers 0.0%(a)

  

General Motors Co. Escrow, 7.200% (d)(h)(i)(j)

     10,000,000         —   

General Motors Co. Escrow, 8.375% (d)(h)(i)(j)

     10,000,000         —   
    

 

 

  
       —   
    

 

 

  

Coal 0.0%(a)

  

CONSOL Energy, Inc., 8.000%, 04/01/23

     1,000,000         747,200   
    

 

 

  

Commercial Services 0.2%

  

Harland Clarke Holdings Corp., 9.250%, 03/01/21(b)

     5,330,000         4,084,112   

Harland Clarke Holdings Corp., 9.750%, 08/01/18(b)

     3,715,000         3,659,275   
    

 

 

  
       7,743,387   
    

 

 

  

Media 0.7%

  

Altice US Finance SA, 7.750%, 07/15/25(b)

     9,210,000         9,002,775   

Cequel Communications Holdings I LLC/Cequel Capital Corp., 7.750%, 07/15/25(b)

     4,000,000         3,940,000   

WideOpenWest Finance LLC/WideOpenWest Capital Corp., 10.250%, 07/15/19

     10,000,000         10,000,000   

WideOpenWest Finance LLC/WideOpenWest Capital Corp., 13.375%, 10/15/19

     9,170,000         8,986,600   
    

 

 

  
       31,929,375   
    

 

 

  

Oil & Gas 0.6%

     

Carrizo Oil & Gas, Inc., 6.250%, 04/15/23

     1,000,000         881,250   

Linn Energy LLC/Linn Energy Finance Corp., 8.625%, 04/15/20

     7,800,000         897,000   

Glenn Pool Oil & Gas Trust, 6.000%, 08/02/21(d)(i)

     31,815,372         24,497,837   
 

 

See Notes to Financial Statements.

 

55

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Floating Rate High Income Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

     

SandRidge Energy, Inc., 8.750%, 06/01/20(b)

     745,000         180,663   

Southwestern Energy Co., 7.500%, 02/01/18

     1,000,000         837,500   
    

 

 

  
       27,294,250   
    

 

 

  

Telecommunication Services 0.5%

  

   

Intelsat Luxembourg SA, 7.750%, 06/01/21

     1,175,000         349,563   

Trilogy International Partners LLC/Trilogy International Finance, Inc., 10.250%, 08/15/16(d)

     15,033,000         13,266,622   

Wind Acquisition Finance SA, 7.375%, 04/23/21(b)

     9,000,000         8,145,000   
    

 

 

  
       21,761,185   
    

 

 

  

Total Corporate Bonds
(Cost $109,227,429)

        89,475,397   
    

 

 

  
Preferred Stock 0.1%     

Banks 0.1%

     

GMAC Capital Trust I, Series 2,
6.402%(c)

     94,025         2,304,553   
    

 

 

  

Total Preferred Stock
(Cost $2,350,625)

        2,304,553   
    

 

 

  
Common Stocks 0.1%     

Oil & Gas 0.1%

     

Vantage Drilling International (Stapled Unit)*

     35,085         3,859,350   
    

 

 

  

Telecommunication Services 0.0%(a)

  

   

NII Holding, Inc.*

     303,451         1,678,084   
    

 

 

  

Total Common Stocks
(Cost $25,923,249)

        5,537,434   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Fund 4.1%

     

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(k)

     178,369,305         178,369,305   
    

 

 

  

Total Money Market Fund
(Cost $178,369,305)

        178,369,305   
    

 

 

  

Total Investments
(Cost $4,709,385,305) — 100.1%

   

      4,371,040,660   

Liabilities in Excess of Other
Assets — (0.1)%

        (4,299,775 ) 
    

 

 

  

Net Assets — 100.0%

      $ 4,366,740,885   
    

 

 

  

 

* Non-income producing security.

 

(a) Less than 0.05% of Net Assets.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 92.2% of net assets as of March 31, 2016.

 

(c) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(d) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees. These securities represent 3.2% of net assets as of March 31, 2016.

 

(e) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(f) The security does not have a stated settlement date and will receive a rate upon settling with the custodian.

 

(g) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(h) Security is in default.

 

(i) Valued at fair value using procedures approved by the Board of Trustees (See Note 2(a)). Fair valued securities held by the Fund represent 0.6% of net assets as of March 31, 2016.

 

(j) Perpetual maturity.

 

(k) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

DIP    

   —   Debtor-in-Possession
PIK   —   Payment in-kind
 

 

See Notes to Financial Statements.

 

56

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Georgia Tax-Exempt Bond Fund

 

    

Shares or

Principal

Amount($)

      Value($)  
Municipal Bonds 97.9%     

Alabama 0.6%

     

Birmingham, Series A, GO, 0.000%, 03/01/32(a)

     640,000         694,944   
    

 

 

  

Georgia 92.0%

     

Athens-Clarke County Unified Government Development Authority, RB, 5.250%, 07/01/27

     2,885,000         3,368,035   

Athens-Clarke County Unified Government Development Authority, RB, 5.250%, 07/01/29

     1,690,000         1,946,914   

Athens-Clarke County Unified Government Development Authority, Catholic Health East, RB, 6.250%, 11/15/32

     1,410,000         1,607,485   

Athens-Clarke County Unified Government Water & Sewerage, RB, 5.000%, 01/01/17

     1,185,000         1,224,223   

Athens-Clarke County Unified Government Water & Sewerage, RB,
5.500%, 01/01/38,
Pre-refunded 01/01/2019 @ 100

     4,000,000         4,500,960   

Athens-Clarke County Unified Government Water & Sewerage, RB,
5.625%, 01/01/33,
Pre-refunded 01/01/2019 @ 100

     3,000,000         3,385,890   

Athens-Clarke County Unified Government Water & Sewerage Revenue, RB,
5.000%, 01/01/24

     1,250,000         1,564,787   

Atlanta Airport Passenger Facility Charge, Series B, RB, 5.000%, 01/01/21

     2,000,000         2,298,480   

Atlanta Airport Project, Series B, RB, 5.000%, 01/01/23

     2,500,000         2,863,800   

Atlanta Airport Project, Series B, RB, 5.000%, 01/01/42

     2,235,000         2,504,452   

Atlanta Development Authority, RB, ETM, 5.000%, 09/01/19

     1,025,000         1,163,846   

Atlanta Development Authority, Series A, RB, 5.000%, 07/01/34

     1,000,000         1,181,720   

Atlanta Development Authority, Series A, RB, 5.250%, 07/01/40

     2,500,000         2,973,550   
    

Shares or

Principal

Amount($)

      Value($)  

Georgia—continued

     

Atlanta GA Water & Wastewater Revenue, RB, 5.000%, 11/01/35

     2,000,000         2,370,080   

Atlanta GA Water & Wastewater Revenue, RB, 5.000%, 11/01/40

     4,000,000         4,680,400   

Bartow County School District, GO, 5.000%, 10/01/19

     2,000,000         2,271,140   

Carroll City-County Hospital Authority, Tanner Medical Center, Inc., RB, 5.000%, 07/01/41, Country Guaranteed

     3,000,000         3,463,050   

Clarke County Hospital Authority, Athens Regional Medical Center, RB, 5.000%, 01/01/32, Country Guaranteed

     1,180,000         1,344,504   

DeKalb County, Water & Sewerage Revenue, Series A, RB, 5.000%, 10/01/22

     1,000,000         1,203,590   

DeKalb County, Water & Sewerage Revenue, Series A, RB, 5.250%, 10/01/23

     1,500,000         1,815,285   

DeKalb County, Water & Sewerage Revenue, Series A, RB, 5.250%, 10/01/36

     2,000,000         2,354,620   

DeKalb Private Hospital Authority, Children’s Healthcare of Atlanta, Inc., RB, 5.000%, 11/15/29

     4,300,000         4,832,641   

Forsyth County, Series A, GO, 5.000%, 03/01/25,
Pre-refunded 03/01/2019 @ 100

     5,000,000         5,590,850   

Fulton County Development Authority, Series A, RB, 5.000%, 03/15/36

     2,000,000         2,330,800   

Fulton County Development Authority, Series A, RB, 5.000%, 05/01/39

     5,145,000         5,938,513   

Fulton County Development Authority, Robert Woodruff Arts Center, Inc., Series B, RB, 5.250%, 03/15/24

     1,300,000         1,439,295   

Fulton County Water & Sewerage Revenue, RB, 5.000%, 01/01/18

     1,600,000         1,717,104   

Georgia State, Series A, GO, 5.000%, 01/01/19

     2,360,000         2,627,671   

Georgia State, Series A, GO, 5.000%, 02/01/28

     1,000,000         1,254,190   
 

 

See Notes to Financial Statements.

 

57

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Georgia Tax-Exempt Bond Fund — concluded

 

    

Shares or

Principal

Amount($)

      Value($)  

Georgia—continued

     

Georgia State, Series E, GO, 5.000%, 08/01/22,
Pre-refunded 08/01/2017 @ 100

     1,450,000         1,533,114   

Greene County Development Authority, RB, 5.000%, 11/15/37

     2,955,000         3,351,118   

Gwinnett County School District, GO, 5.000%, 02/01/20,
Pre-refunded 02/01/2018 @ 100

     1,635,000         1,759,391   

Henry County Water & Sewerage Authority, RB, 6.150%, 02/01/20, AMBAC

     2,100,000         2,463,888   

Municipal Electric Authority of Georgia, Series A, RB, 5.000%, 01/01/21

     2,000,000         2,340,760   

Municipal Electric Authority of Georgia, Series D, RB,
5.750%, 01/01/19

     1,290,000         1,433,629   

Private Colleges & Universities Authority, Emory University, Series C, RB, 5.250%, 09/01/39

     2,000,000         2,240,320   

Private Colleges & Universities Authority, Savannah College Of Art & Design, RB, 5.000%, 04/01/30

     1,000,000         1,157,100   

Private Colleges & Universities Authority, Savannah College Of Art & Design, RB, 5.000%, 04/01/44

     3,500,000         3,873,870   

Sandy Springs Public Facilities Authority, RB, 5.000%, 05/01/41

     3,000,000         3,587,910   

Thomasville Hospital Authority, John D. Archhold Memorial Hospital, RB, 5.375%, 11/01/40

     2,510,000         2,860,296   
    

 

 

  
       102,419,271   
    

 

 

  

Guam 1.4%

     

Guam Waterworks Authority, RB, 5.000%, 01/01/46

     1,065,000         1,208,424   

Territory of Guam, Series D, RB, 5.000%, 11/15/39

     350,000         395,615   
    

 

 

  
       1,604,039   
    

 

 

  
    

Shares or

Principal

Amount($)

      Value($)  

North Carolina 1.7%

     

North Carolina Capital Facilities Finance Agency, Educational Facilities, RB, 5.000%, 05/01/32

     1,700,000         1,867,569   
    

 

 

  

South Carolina 2.2%

     

South Carolina State Public Service Authority, Series A, RB, 5.750%, 12/01/43

     2,000,000         2,439,940   
    

 

 

  

Total Municipal Bonds
(Cost $101,838,667)

   

      109,025,763   
    

 

 

  

Money Market Fund 1.2%

     

Federated Tax-Free Obligations Fund, Institutional Shares, 0.14%(b)

     1,297,273         1,297,273   
    

 

 

  

Total Money Market Fund
(Cost $1,297,273)

   

      1,297,273   
    

 

 

  

Total Investments (Cost $103,135,940) — 99.1%

   

      110,323,036   

Other Assets in Excess of Liabilities — 0.9%

  

      988,846   
    

 

 

  

Net Assets — 100.0%

      $ 111,311,882   
    

 

 

  

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2016.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

  AMBAC   —   Security guaranteed by American Municipal Bond Assurance Corporation
  ETM   —   Escrowed to Maturity
  GO   —   General Obligation
  RB   —   Revenue Bond
 

 

See Notes to Financial Statements.

 

58

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Grade Municipal Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 87.5%     

Alabama 3.9%

     

Birmingham, Series A, GO,
0.000%, 03/01/37(a)

     2,000,000         2,134,760   

Birmingham Special Care Facilities Financing Authority Health Care Facilities, Children’s Hospital of Alabama, RB, 6.000%, 06/01/39, AGC

     2,000,000         2,306,380   
    

 

 

  
       4,441,140   
    

 

 

  

Alaska 2.1%

     

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, AGC

     730,000         849,968   

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, Pre-refunded 09/01/2019 @ 100, AGC

     1,270,000         1,485,557   
    

 

 

  
       2,335,525   
    

 

 

  

California 13.5%

     

California Infrastructure & Economic Development Bank, RB, 5.000%, 11/01/34

     1,000,000         1,178,510   

California Municipal Finance Authority, Series A, RB, 5.000%, 06/01/50

     1,750,000         1,932,578   

California State, GO, 4.000%, 09/01/45

     1,000,000         1,078,650   

California State, GO, 5.000%, 09/01/30

     1,000,000         1,178,570   

California State, GO, 5.000%, 08/01/35

     1,000,000         1,197,720   

California State, GO, 5.000%, 09/01/45

     3,500,000         4,177,495   

California State, GO, 6.500%, 04/01/33(b)

     2,000,000         2,332,060   

San Diego Redevelopment Agency Successor, Series A, 5.000%, 09/01/28

     500,000         620,715   

San Diego Redevelopment Agency Successor, Series A, 5.000%, 09/01/29

     405,000         499,802   

Santa Clara Valley Water District, Series A, RB, 5.000%, 06/01/46

     1,000,000         1,189,820   
    

 

 

  
       15,385,920   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

District of Columbia 2.0%

     

District of Columbia, Income Tax, Series A, RB, 5.500%, 12/01/30(b)

     2,000,000         2,327,380   
    

 

 

  

Florida 8.2%

     

Florida State, Series D, GO, 5.000%, 06/01/18

     3,000,000         3,273,810   

Orlando FL Contract Tourist DE, Series A, RB, 5.250%, 11/01/32

     1,000,000         1,207,440   

South Florida Water Management District, COP, 5.000%, 10/01/36

     1,000,000         1,191,690   

Tampa Bay Water, Series A, RB, 5.000%, 10/01/37

     1,000,000         1,201,970   

Tampa FL Health System Revenue, Series A, RB, 4.000%, 11/15/46(c)

     1,000,000         1,041,450   

Tampa FL Health System Revenue, Series A, RB, 5.000%, 11/15/46(c)

     1,250,000         1,461,675   
    

 

 

  
       9,378,035   
    

 

 

  

Georgia 11.7%

     

Fulton County Development Authority, Georgia Tech Athletic Association, RB, 5.750%, 10/01/36

     1,250,000         1,466,475   

Gwinnett County School District, GO, 5.000%, 02/01/35

     2,000,000         2,432,440   

Private Colleges & Universities Authority, RB, 5.000%, 04/01/31

     1,000,000         1,150,520   

Private Colleges & Universities Authority, RB, 5.000%, 04/01/33

     1,000,000         1,138,260   

Sandy Springs Public Facilities Authority, RB, 5.000%, 05/01/41

     3,000,000         3,587,910   

Sandy Springs Public Facilities Authority, RB, 5.000%, 05/01/47

     3,000,000         3,569,490   
    

 

 

  
       13,345,095   
    

 

 

  

Guam 1.0%

     

Guam Power Authority, Series A, RB, 5.000%, 10/01/31

     1,000,000         1,136,220   
    

 

 

  

Hawaii 1.3%

  

University of Hawaii, Series E, RB, 5.000%, 10/01/32(c)

     1,205,000         1,493,453   
    

 

 

  
 

 

See Notes to Financial Statements.

 

59

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Grade Municipal Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Idaho 2.5%

  

Idaho Health Facilities Authority, Series A, RB, 6.750%, 11/01/37(b)

     2,500,000         2,821,100   
    

 

 

  

Illinois 4.6%

  

Chicago O’Hare International Airport, Series B, RB, 5.000%, 01/01/33

     3,500,000         4,105,605   

University of Illinois, Auxiliary Facilities System, Series A, RB, 5.750%, 04/01/38

     1,000,000         1,141,000   
    

 

 

  
       5,246,605   
    

 

 

  

Kansas 1.5%

  

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, RB, 5.750%, 11/15/38(b)

     1,500,000         1,722,765   
    

 

 

  

Maine 2.6%

  

Maine State Turnpike Authority, RB, 6.000%, 07/01/38(b)

     2,500,000         2,907,425   
    

 

 

  

Massachusetts 1.6%

  

Commonwealth of Massachusetts, Series A, GO, 5.000%, 04/01/25

     1,500,000         1,775,025   
    

 

 

  

Missouri 1.6%

  

Metropolitan St Louis Sewer District, Series B, RB, 5.000%, 05/01/45

     1,500,000         1,773,570   
    

 

 

  

New York 8.3%

  

Erie County Industrial Development Agency, City School District Buffalo, Series A, RB, 5.750%, 05/01/29, BHAC

     1,000,000         1,102,940   

New York City Transitional Finance Authority Future Tax Secured Revenue, Series E-1, RB, 5.000%, 02/01/35

     1,000,000         1,205,100   

New York City Transitional Finance Authority Future Tax Secured Revenue, Series E-1, RB, 5.000%, 02/01/37

     2,000,000         2,392,960   

New York City Transitional Finance Authority Future Tax Secured Revenue, Series E-1, RB, 5.000%, 02/01/39

     3,000,000         3,563,790   

Utility Debt Securitization Authority, RB, 5.000%, 12/15/37

     1,000,000         1,208,480   
    

 

 

  
       9,473,270   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Ohio 2.7%

  

Ohio State, Series C, GO,
5.000%, 09/15/16

     3,005,000         3,067,624   
    

 

 

  

Tennessee 1.5%

  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, 5.000%, 07/01/46(c)

     1,500,000         1,720,155   
    

 

 

  

Texas 12.5%

  

Arlington Higher Education Finance Corp., Series A, RB, 5.000%, 08/15/39, PSF-GTD

     1,000,000         1,142,300   

Dallas Independent School District, GO, 6.375%, 02/15/34,
PSF-GTD(b)

     4,000,000         4,416,320   

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB, 5.000%, 07/01/35

     2,000,000         2,195,420   

San Antonio TX Water System, Series A, RB, 5.000%, 05/15/33

     2,000,000         2,430,680   

San Antonio TX Water System, Series A, RB, 5.000%, 05/15/34

     1,250,000         1,511,738   

Texas State, Series C, GO, 5.250%, 08/01/16

     2,500,000         2,540,525   
    

 

 

  
       14,236,983   
    

 

 

  

Washington 4.4%

  

Seattle Washington Municipal Light & Power, RB,
5.750%, 04/01/29,
BHAC(b)

     1,635,000         1,868,151   

Washington State, Series C, GO, 5.000%, 02/01/35

     2,570,000         3,097,107   
    

 

 

  
       4,965,258   
    

 

 

  

Total Municipal Bonds
(Cost $94,399,941)

        99,552,548   
    

 

 

  

Money Market Fund 15.2%

  

Federated Tax-Free Obligations Fund, Institutional Shares,
0.14%(d)

     17,339,825         17,339,825   
    

 

 

  

Total Money Market Fund
(Cost $17,339,825)

   

      17,339,825   
    

 

 

  
 

 

See Notes to Financial Statements.

 

60

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Grade Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)		    Value($)  

Total Investments
(Cost $111,739,766) — 102.7%

      116,892,373   

Liabilities in Excess of Other
Assets — (2.7)%

        (3,093,235 ) 
    

 

 

  
    

Net Assets — 100.0%

      $ 113,799,138   
    

 

 

  
    

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2016.

 

(b) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

AGC   —   Security guaranteed by Assured Guaranty Corporation
BHAC   —   Security guaranteed by Berkshire Hathaway Assurance Corporation
COP   —   Certificate of Participation
GO   —   General Obligation
PSF-GTD   —   Security guaranteed by Permanent School Fund Guarantee Program
RB   —   Revenue Bond
 

 

See Notes to Financial Statements.

 

61

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Bank Loans 3.6%     

Broadcasting 0.3%

     

iHeartCommunications, Inc., Term Loan D,
7.183%, 01/30/19(a)(b)

     2,065,000         1,430,013   
    

 

 

  

Energy 0.2%

     

Azure Midstream Energy LLC, Term Loan B,
7.500%, 11/15/18(a)(b)

     1,512,849         756,424   

Templar Energy LLC, New 2nd Lien Term Loan, 8.500%, 11/25/20(a)(b)(c)

     6,572,409         650,669   
    

 

 

  
       1,407,093   
    

 

 

  

Healthcare 0.3%

     

inVentiv Health, Inc.,
Term Loan B4,
7.750%, 05/15/18(a)(b)

     1,925,000         1,920,188   
    

 

 

  

Metals/Minerals 0.6%

     

FMG Resources (August 2006) Pty Ltd., New Term Loan B,
4.250%, 06/30/19(a)(b)

     4,531,899         3,821,886   
    

 

 

  

Retail 1.5%

     

J.C. Penney Corporation, Inc., 1st Lien Term Loan, 6.000%, 05/22/18(a)(b)

     2,117,858         2,119,976   

Sears Roebuck Acceptance Corp., 2015 Term Loan, 5.500%, 06/30/18(a)(b)

     4,943,683         4,696,499   

Toys ‘R’ Us-Delaware, Inc., Term Loan B4, 9.750%, 04/24/20(a)(b)

     2,545,382         2,044,781   
    

 

 

  
       8,861,256   
    

 

 

  

Service 0.7%

     

Asurion LLC, New 2nd Lien Term Loan, 8.500%, 03/03/21(a)(b)

     4,360,000         4,072,981   
    

 

 

  

Total Bank Loans
(Cost $29,859,074)

   

      21,513,417   
    

 

 

  
Corporate Bonds 89.7%     

Advertising 0.3%

     

MDC Partners, Inc., 6.500%, 05/01/24(a)

     1,550,000         1,582,938   
    

 

 

  

Aerospace/Defense 0.6%

     

TransDigm, Inc.,
6.000%, 07/15/22

     3,400,000         3,387,250   
    

 

 

  

Airlines 1.1%

     

American Airlines Pass Through Trust, Series 2013-2, Cl B,
5.600%, 07/15/20(a)

     3,531,917         3,567,236   
     Shares or
Principal
Amount($)		      Value($)  

Airlines—continued

     

United Airlines Pass Through Trust, Series 2014-1, Cl B, 4.750%, 04/11/22

     2,374,519         2,350,774   

VistaJet Malta Finance PLC/VistaJet Co. Finance LLC, 7.750%, 06/01/20(d)

     2,220,000         982,350   
    

 

 

  
     6,900,360   
    

 

 

  

Auto Manufacturers 0.0%(e)

     

General Motors Co. Escrow,
7.200%(c)(d)(f)(g)(h)

     17,182,000         —   

General Motors Co. Escrow,
8.375%(c)(d)(f)(g)(h)

     36,800,000         —   
    

 

 

  
     —   
    

 

 

  

Banks 1.0%

     

CIT Group, Inc., 5.375%, 05/15/20

     1,650,000         1,711,875   

Provident Funding Associates LP/PFG Finance Corp., 6.750%, 06/15/21(a)

     4,740,000         4,491,150   
    

 

 

  
     6,203,025   
    

 

 

  

Biotechnology 0.7%

     

Concordia Healthcare Corp., 9.500%, 10/21/22(a)(f)

     4,268,000         4,129,290   
    

 

 

  

Building Materials 0.9%

     

GCP Applied Technologies, Inc., 9.500%, 02/01/23(a)

     897,000         973,245   

Summit Materials LLC/Summit Materials Finance Corp., 6.125%, 07/15/23

     1,225,000         1,163,750   

US Concrete, Inc., 8.500%, 12/01/18

     1,330,000         1,383,200   

USG Corp., 5.875%, 11/01/21(a)

     1,730,000         1,807,850   
    

 

 

  
       5,328,045   
    

 

 

  

Chemicals 2.8%

     

Blue Cube Spinco, Inc., 9.750%, 10/15/23(a)

     2,543,000         2,905,377   

Blue Cube Spinco, Inc., 10.000%, 10/15/25(a)(f)

     2,415,000         2,759,138   

Chemours Co. (The),
7.000%, 05/15/25(a)

     4,455,000         3,564,000   

Kraton Polymers LLC/Kraton Polymers Capital Corp., 10.500%, 04/15/23(a)

     2,600,000         2,450,500   

Nufarm Australia Ltd.,
6.375%, 10/15/19(a)

     1,685,000         1,651,300   

Platform Specialty Products Corp., 10.375%, 05/01/21(a)

     4,010,000         3,879,675   
    

 

 

  
       17,209,990   
    

 

 

  
 

 

See Notes to Financial Statements.

 

62

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Coal 1.1%

     

CONSOL Energy, Inc.,
5.875%, 04/15/22(f)

     6,120,000         4,410,194   

CONSOL Energy, Inc.,
8.000%, 04/01/23(f)

     2,615,000         1,953,928   
    

 

 

  
       6,364,122   
    

 

 

  

Commercial Services 5.3%

     

Cenveo Corp., 6.000%, 08/01/19(a)

     2,040,000         1,484,100   

Flexi-Van Leasing, Inc., 7.875%, 08/15/18(a)

     835,000         826,650   

Harland Clarke Holdings Corp., 6.875%, 03/01/20(a)(i)

     1,680,000         1,495,200   

Harland Clarke Holdings Corp., 9.250%, 03/01/21(a)(i)

     3,290,000         2,520,963   

Harland Clarke Holdings Corp., 9.750%, 08/01/18(a)(i)

     8,877,000         8,743,845   

Hertz Corp. (The), 4.250%, 04/01/18

     180,000         180,000   

Hertz Corp. (The), 5.875%, 10/15/20(f)

     3,030,000         3,065,148   

Hertz Corp. (The), 6.750%, 04/15/19

     3,074,000         3,118,542   

Prospect Medical Holdings, Inc., 8.375%, 05/01/19(a)

     2,817,000         2,908,552   

Quad/Graphics, Inc., 7.000%, 05/01/22

     3,980,000         3,303,400   

TMS International Corp., 7.625%, 10/15/21(d)

     4,350,000         2,544,750   

United Rentals North America, Inc., 7.625%, 04/15/22

     1,680,000         1,789,200   
    

 

 

  
       31,980,350   
    

 

 

  

Computers 0.4%

     

Project Homestake Merger Corp., 8.875%, 03/01/23(a)

     2,615,000         2,601,925   
    

 

 

  

Distribution/Wholesale 0.7%

     

Univar USA, Inc., 6.750%, 07/15/23(a)

     4,395,000         4,290,619   
    

 

 

  

Diversified Financial Services 9.9%

  

   

AerCap Ireland Capital Ltd./AerCap Global Aviation Trust, 4.625%, 10/30/20

     1,325,000         1,358,125   

Ally Financial, Inc., 3.250%, 11/05/18

     5,692,000         5,598,082   

Ally Financial, Inc., 7.500%, 09/15/20

     3,709,000         4,107,717   

Ally Financial, Inc., 8.000%, 03/15/20

     2,619,000         2,933,280   

International Lease Finance Corp., 6.250%, 05/15/19

     2,450,000         2,612,313   
     Shares or
Principal
Amount($)		      Value($)  

Diversified Financial Services—continued

  

   

International Lease Finance Corp., 8.250%, 12/15/20

     10,560,000         12,328,800   

Jefferies Finance LLC/JFIN
Co-Issuer Corp.,
7.375%, 04/01/20(a)

     3,350,000         2,897,750   

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 08/01/18

     4,640,000         4,495,000   

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 07/01/21

     3,171,000         2,814,263   

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20(f)

     3,890,000         3,724,675   

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19(f)

     1,025,000         1,060,875   

Navient Corp., 4.875%, 06/17/19, MTN

     2,600,000         2,509,000   

Navient Corp., 5.000%, 10/26/20

     2,010,000         1,824,075   

Navient Corp., 5.500%, 01/15/19, MTN

     250,000         245,625   

Navient Corp.,
8.000%, 03/25/20, MTN

     1,855,000         1,845,725   

Navient Corp.,
8.450%, 06/15/18, MTN

     1,805,000         1,933,606   

Quicken Loans, Inc.,
5.750%, 05/01/25(a)

     6,045,000         5,863,650   

Walter Investment Management Corp., 7.875%, 12/15/21(f)

     2,905,000         1,888,250   
    

 

 

  
       60,040,811   
    

 

 

  

Electric 2.2%

  

Dynegy, Inc., 6.750%, 11/01/19

     3,775,000         3,756,125   

Dynegy, Inc., 7.375%, 11/01/22

     2,365,000         2,187,625   

Dynegy, Inc., 7.625%, 11/01/24

     985,000         893,888   

GenOn Energy, Inc., 7.875%, 06/15/17

     996,000         747,000   

GenOn Energy, Inc., 9.500%, 10/15/18

     3,370,000         2,460,100   

NRG Energy, Inc., 8.250%, 09/01/20

     3,535,000         3,561,512   
    

 

 

  
       13,606,250   
    

 

 

  

Electronics 0.3%

     

Allegion PLC, 5.875%, 09/15/23

     1,743,000         1,834,508   
    

 

 

  
 

 

See Notes to Financial Statements.

 

63

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Entertainment 0.9%

     

Greektown Holdings LLC/Greektown Mothership Corp.,
8.875%, 03/15/19(a)

     3,345,000         3,428,625   

WMG Acquisition Corp., 5.625%, 04/15/22(a)

     1,778,000         1,804,670   
    

 

 

  
       5,233,295   
    

 

 

  

Environmental Control 0.2%

     

GFL Environmental, Inc., 9.875%, 02/01/21(a)

     1,125,000         1,170,000   
    

 

 

  

Food 2.2%

     

JBS USA LLC/JBS USA Finance, Inc., 5.750%, 06/15/25(a)

     3,610,000         3,158,750   

JBS USA LLC/JBS USA Finance, Inc., 8.250%, 02/01/20(a)

     1,820,000         1,865,500   

Post Holdings, Inc., 7.375%, 02/15/22

     3,390,000         3,584,925   

Post Holdings, Inc.,
8.000%, 07/15/25(a)(f)

     4,425,000         4,911,750   
    

 

 

  
       13,520,925   
    

 

 

  

Forest Products & Paper 0.4%

  

Resolute Forest Products, Inc., 5.875%, 05/15/23

     3,984,000         2,689,200   
    

 

 

  

Healthcare-Products 1.1%

  

Greatbatch Ltd., 9.125%, 11/01/23(a)

     2,227,000         2,207,514   

Kinetic Concepts, Inc./KCI USA, Inc., 7.875%, 02/15/21(a)

     449,000         474,818   

Kinetic Concepts, Inc./KCI USA, Inc., 10.500%, 11/01/18

     2,685,000         2,691,712   

Teleflex, Inc., 5.250%, 06/15/24

     1,208,000         1,236,690   
    

 

 

  
       6,610,734   
    

 

 

  

Healthcare-Services 5.9%

     

Centene Escrow Corp., 5.625%, 02/15/21(a)

     3,390,000         3,534,075   

Centene Escrow Corp., 6.125%, 02/15/24(a)

     855,000         899,888   

CHS/Community Health Systems, Inc., 6.875%, 02/01/22(f)

     2,335,000         2,107,338   

CHS/Community Health Systems, Inc., 8.000%, 11/15/19

     3,535,000         3,442,206   

HCA Holdings, Inc., 6.250%, 02/15/21

     2,865,000         3,079,875   

HCA, Inc., 6.500%, 02/15/20

     2,215,000         2,430,962   
     Shares or
Principal
Amount($)		      Value($)  

Healthcare-Services—continued

  

IASIS Healthcare LLC/IASIS Capital Corp., 8.375%, 05/15/19

     1,790,000         1,765,388   

inVentiv Health, Inc.,
9.000%, 01/15/18(a)

     3,170,000         3,273,025   

Kindred Healthcare, Inc., 8.000%, 01/15/20

     2,425,000         2,406,812   

Tenet Healthcare Corp., 6.750%, 06/15/23

     1,945,000         1,862,338   

Tenet Healthcare Corp., 8.000%, 08/01/20(f)

     680,000         699,550   

Tenet Healthcare Corp., 8.125%, 04/01/22

     8,730,000         8,980,987   

WellCare Health Plans, Inc., 5.750%, 11/15/20

     1,280,000         1,324,800   
    

 

 

  
       35,807,244   
    

 

 

  

Home Builders 1.2%

     

CalAtlantic Group, Inc., 5.875%, 11/15/24

     1,650,000         1,736,625   

DR Horton, Inc., 4.000%, 02/15/20

     1,095,000         1,127,850   

Lennar Corp., 4.750%, 04/01/21

     1,230,000         1,245,375   

PulteGroup, Inc., 4.250%, 03/01/21

     878,000         891,170   

Shea Homes LP/Shea Homes Funding Corp., 5.875%, 04/01/23(a)

     1,665,000         1,642,106   

Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.250%, 04/15/21(a)

     680,000         666,400   
    

 

 

  
       7,309,526   
    

 

 

  

Household Products/Wares 0.1%

  

Century Intermediate Holding Co. 2, PIK, 9.750%, 02/15/19(a)

     863,000         877,024   
    

 

 

  

Insurance 1.1%

     

Assured Guaranty US Holdings, Inc., Series A, 6.400%, 12/15/66(b)(d)

     595,000         410,550   

Radian Group, Inc., 5.500%, 06/01/19

     2,880,000         2,930,400   

Radian Group,Inc., 7.000%, 03/15/21

     2,937,000         3,041,263   
    

 

 

  
       6,382,213   
    

 

 

  

Internet 0.3%

     

Zayo Group LLC/Zayo Capital, Inc., 6.000%, 04/01/23

     1,770,000         1,766,672   
    

 

 

  
 

 

See Notes to Financial Statements.

 

64

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Iron/Steel 0.5%

     

Signode Industrial Group Lux SA/Signode Industrial Group US, Inc., 6.375%, 05/01/22(a)

     1,805,000         1,640,294   

Steel Dynamics, Inc., 5.125%, 10/01/21

     1,470,000         1,484,700   
    

 

 

  
       3,124,994   
    

 

 

  

Leisure Time 0.6%

     

NCL Corp. Ltd., 5.250%, 11/15/19(a)

     1,175,000         1,198,500   

Viking Cruises Ltd., 8.500%, 10/15/22(a)

     2,860,000         2,702,700   
    

 

 

  
       3,901,200   
    

 

 

  

Lodging 0.7%

     

Boyd Gaming Corp., 9.000%, 07/01/20

     935,000         988,762   

Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.500%, 07/01/19(a)(i)

     3,240,000         3,078,000   
    

 

 

  
       4,066,762   
    

 

 

  

Media 7.1%

     

Altice Financing SA,
6.500%, 01/15/22(a)

     1,030,000         1,048,025   

Altice Financing SA,
6.625%, 02/15/23(a)

     2,205,000         2,210,512   

Altice Luxembourg SA, 7.750%, 05/15/22(a)

     1,175,000         1,156,294   

Altice US Finance SA,
7.750%, 07/15/25(a)

     5,260,000         5,141,650   

CCO Holdings LLC/Cap Corp., 5.750%, 09/01/23

     1,060,000         1,099,750   

Cequel Communications Holdings I LLC/Cequel Capital Corp., 5.125%, 12/15/21(a)

     1,940,000         1,809,050   

Cequel Communications Holdings I LLC/Cequel Capital Corp., 7.750%, 07/15/25(a)(f)

     3,175,000         3,127,375   

Clear Channel Worldwide Holdings, Inc., Series B, 6.500%, 11/15/22

     2,640,000         2,626,800   

DISH DBS Corp., 5.125%, 05/01/20

     6,310,000         6,262,675   

DISH DBS Corp., 7.875%, 09/01/19

     560,000         616,000   

iHeartCommunications, Inc., 10.625%, 03/15/23

     465,000         322,013   
     Shares or
Principal
Amount($)		      Value($)  

Media—continued

     

Lee Enterprises, Inc.,
9.500%, 03/15/22(a)(f)

     2,960,000         2,911,900   

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 9.750%, 04/01/21

     825,000         895,125   

MHGE Parent LLC/MHGE Parent Finance, Inc., 8.500%, 08/01/19(a)(f)

     3,470,000         3,452,650   

Numericable-SFR, 6.000%, 05/15/22(a)

     2,425,000         2,364,375   

Univision Communications, Inc., 6.750%, 09/15/22(a)

     1,434,000         1,520,040   

VTR Finance BV,
6.875%, 01/15/24(a)

     3,000,000         2,925,000   

WideOpenWest Finance LLC/WideOpenWest Capital Corp., 10.250%, 07/15/19

     2,405,000         2,405,000   

Ziggo Bond Finance BV, 5.875%, 01/15/25(a)

     1,315,000         1,288,700   
    

 

 

  
       43,182,934   
    

 

 

  

Metal Fabricate/Hardware 0.5%

  

JMC Steel Group, Inc.,
8.250%, 03/15/18(a)(f)

     3,365,000         2,994,850   
    

 

 

  

Mining 1.0%

     

FMG Resources August 2006 Pty Ltd., 9.750%, 03/01/22(a)(f)

     1,225,000         1,221,937   

Imperial Metals Corp.,
7.000%, 03/15/19(d)(f)

     5,860,000         5,098,200   
    

 

 

  
       6,320,137   
    

 

 

  

Miscellaneous Manufacturer 1.4%

  

Bombardier, Inc., 7.500%, 03/15/18(a)

     7,730,000         7,614,050   

Gates Global LLC/Gates Global Co., 6.000%, 07/15/22(a)(f)

     805,000         688,275   
    

 

 

  
       8,302,325   
    

 

 

  

Oil & Gas 10.0%

     

Antero Resources Corp., 6.000%, 12/01/20

     5,014,000         4,763,300   

Atwood Oceanics, Inc., 6.500%, 02/01/20(f)

     3,400,000         1,615,000   

Carrizo Oil & Gas, Inc., 7.500%, 09/15/20(f)

     3,155,000         2,942,037   

Chesapeake Energy Corp., 5.750%, 03/15/23(f)

     5,405,000         1,837,700   

Chesapeake Energy Corp., 6.625%, 08/15/20(f)

     4,845,000         1,889,550   
 

 

See Notes to Financial Statements.

 

65

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

     

Chesapeake Energy Corp., 6.875%, 11/15/20

     5,310,000         2,084,175   

CITGO Petroleum Corp., 6.250%, 08/15/22(a)

     1,870,000         1,804,550   

Concho Resources, Inc., 7.000%, 01/15/21

     1,015,000         1,025,150   

Continental Resources, Inc., 5.000%, 09/15/22

     675,000         581,766   

Continental Resources, Inc., 7.125%, 04/01/21

     80,000         74,800   

Eclipse Resources Corp., 8.875%, 07/15/23(a)

     3,705,000         1,926,600   

EP Energy LLC/Everest Acquisition Finance, Inc., 9.375%, 05/01/20

     1,890,000         953,269   

Halcon Resources Corp., 8.625%, 02/01/20(a)(f)

     3,095,000         2,197,450   

Hilcorp Energy I LP/Hilcorp Finance Co., 5.000%, 12/01/24(a)

     3,410,000         2,872,925   

Hilcorp Energy I LP/Hilcorp Finance Co., 7.625%, 04/15/21(a)(f)

     3,489,000         3,323,272   

Linn Energy LLC/Linn Energy Finance Corp., 8.625%, 04/15/20(c)

     6,487,000         746,005   

Offshore Drilling Holding SA, 8.375%, 09/20/20(a)

     2,380,000         1,136,450   

PBF Holding Co. LLC/PBF Finance Corp., 7.000%, 11/15/23(a)

     2,115,000         2,006,606   

Petrobras Global Finance BV, 5.625%, 05/20/43

     2,635,000         1,712,750   

Precision Drilling Corp., 5.250%, 11/15/24

     2,285,000         1,616,638   

Precision Drilling Corp., 6.625%, 11/15/20

     1,689,843         1,351,875   

Range Resources Corp., 5.750%, 06/01/21

     2,659,000         2,346,567   

Rice Energy, Inc., 6.250%, 05/01/22

     2,885,000         2,509,950   

Rowan Cos., Inc., 5.000%, 09/01/17

     1,890,000         1,819,478   

Sanchez Energy Corp., 7.750%, 06/15/21(f)

     3,045,000         1,788,938   

SandRidge Energy, Inc., 8.125%, 10/15/22(c)

     1,935,000         111,263   

SandRidge Energy, Inc., 8.750%, 06/01/20(a)

     1,615,000         391,638   

Seven Generations Energy Ltd., 6.750%, 05/01/23(a)(f)

     2,521,000         2,376,042   
     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

     

Southwestern Energy Co., 4.050%, 01/23/20

     1,890,000         1,370,250   

Southwestern Energy Co., 7.500%, 02/01/18(f)

     5,035,000         4,216,812   

Whiting Petroleum Corp., 5.000%, 03/15/19

     1,305,000         903,713   

Whiting Petroleum Corp., 6.250%, 04/01/23(f)

     3,860,000         2,595,850   

WPX Energy, Inc., 5.250%, 01/15/17(f)

     1,495,000         1,472,575   
    

 

 

  
       60,364,944   
    

 

 

  

Oil & Gas Services 0.5%

     

FTS International, Inc.,
8.134%, 06/15/20(a)(b)(f)

     2,095,000         1,413,054   

KCA Deutag UK Finance PLC, 7.250%, 05/15/21(d)

     2,820,000         1,762,500   
    

 

 

  
       3,175,554   
    

 

 

  

Pharmaceuticals 2.5%

     

Endo Finance LLC/Endo Finco, Inc., 7.750%, 01/15/22(a)

     1,715,000         1,749,317   

Endo Finance LLC/Endo Ltd./Endo Finco, Inc., 6.000%, 07/15/23(a)

     4,075,000         3,835,594   

Valeant Pharmaceuticals International, 6.750%, 08/15/21(a)

     1,975,000         1,609,625   

Valeant Pharmaceuticals International, 7.000%, 10/01/20(a)

     3,375,000         2,835,000   

Valeant Pharmaceuticals International, Inc., 6.750%, 08/15/18(a)(f)

     5,280,000         4,791,600   
    

 

 

  
       14,821,136   
    

 

 

  

Pipelines 5.4%

     

Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.125%, 03/01/22

     4,075,000         3,056,250   

DCP Midstream Operating LP, 2.500%, 12/01/17

     2,285,000         2,176,478   

Energy Transfer Equity LP, 7.500%, 10/15/20

     2,860,000         2,752,750   

Kinder Morgan Energy Partners LP, 9.000%, 02/01/19

     3,825,000         4,341,031   

Rockies Express Pipeline LLC, 6.000%, 01/15/19(a)

     3,175,000         3,095,625   

Rockies Express Pipeline LLC, 6.850%, 07/15/18(a)

     1,241,000         1,237,897   
 

 

See Notes to Financial Statements.

 

66

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Pipelines—continued

     

Sabine Pass Liquefaction LLC, 5.625%, 02/01/21

     9,720,000         9,343,350   

Targa Resources Partners LP/Targa Resources Partners Finance Corp., 5.000%, 01/15/18

     605,000         603,488   

Targa Resources Partners LP/Targa Resources Partners Finance Corp., 5.250%, 05/01/23

     1,115,000         1,028,588   

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 5.500%, 10/15/19(a)

     3,004,000         2,988,980   

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 6.125%, 10/15/21

     875,000         875,000   

Williams Cos., Inc. (The), 5.750%, 06/24/44

     1,840,000         1,223,600   
    

 

 

  
       32,723,037   
    

 

 

  

Private Equity 0.7%

     

Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.000%, 08/01/20

     4,515,000         4,390,837   
    

 

 

  

Real Estate 1.4%

     

Greystar Real Estate Partners LLC, 8.250%, 12/01/22(a)

     370,000         382,025   

Howard Hughes Corp. (The), 6.875%, 10/01/21(a)

     5,770,000         5,683,450   

Realogy Group LLC/Realogy Co-Issuer Corp., 5.250%, 12/01/21(a)(f)

     2,195,000         2,266,337   
    

 

 

  
       8,331,812   
    

 

 

  

Real Estate Investment Trust 2.1%

  

iStar, Inc., 5.000%, 07/01/19

     1,450,000         1,392,000   

iStar, Inc., 6.500%, 07/01/21

     3,303,000         3,216,296   

iStar, Inc., 7.125%, 02/15/18

     5,765,000         5,837,063   

iStar, Inc., 9.000%, 06/01/17

     2,220,000         2,308,800   
    

 

 

  
       12,754,159   
    

 

 

  

Retail 3.0%

     

Guitar Center, Inc., 6.500%, 04/15/19(a)

     3,285,000         2,956,500   

JC Penney Corp., Inc., 6.375%, 10/15/36

     3,552,000         2,921,520   

Landry’s Holdings II, Inc., 10.250%, 01/01/18(a)

     720,000         716,400   

Men’s Wearhouse, Inc. (The), 7.000%, 07/01/22

     2,060,000         1,745,850   

New Albertsons, Inc., 7.450%, 08/01/29

     1,050,000         952,875   
     Shares or
Principal
Amount($)		      Value($)  

Retail—continued

     

Rite Aid Corp., 6.125%, 04/01/23(a)

     3,700,000         3,922,000   

Rite Aid Corp., 6.750%, 06/15/21

     2,515,000         2,656,469   

Toys R Us Property Co. II LLC, 8.500%, 12/01/17

     2,441,000         2,379,975   
    

 

 

  
       18,251,589   
    

 

 

  

Semiconductors 0.5%

     

Micron Technology, Inc., 5.625%, 01/15/26(a)

     2,070,000         1,635,300   

Micron Technology, Inc., 5.875%, 02/15/22

     1,365,000         1,180,725   
    

 

 

  
       2,816,025   
    

 

 

  

Software 1.0%

     

First Data Corp., 7.000%, 12/01/23(a)

     4,360,000         4,403,600   

Solera LLC/Solera Finance, Inc., 10.500%, 03/01/24(a)

     1,610,000         1,618,050   
    

 

 

  
       6,021,650   
    

 

 

  

Telecommunication Services 8.6%

  

Avaya, Inc., 7.000%, 04/01/19(a)(f)

     1,835,000         1,238,625   

Avaya, Inc., 9.000%, 04/01/19(a)

     580,000         391,500   

CenturyLink, Inc., Series Y, 7.500%, 04/01/24(j)

     2,270,000         2,275,675   

DigitalGlobe, Inc., 5.250%, 02/01/21(d)

     1,690,000         1,537,900   

Intelsat Jackson Holdings SA, 7.250%, 04/01/19

     3,125,000         2,304,688   

Intelsat Jackson Holdings SA, 7.250%, 10/15/20

     2,090,000         1,348,050   

Intelsat Jackson Holdings SA, 8.000%, 02/15/24(a)(f)

     1,102,000         1,135,060   

Intelsat Luxembourg SA, 7.750%, 06/01/21

     1,354,000         402,815   

Level 3 Financing, Inc., 6.125%, 01/15/21

     6,895,000         7,222,512   

Sprint Capital Corp., 8.750%, 03/15/32

     3,335,000         2,609,638   

Sprint Communications, Inc., 11.500%, 11/15/21

     3,795,000         3,377,550   

Sprint Corp., 7.875%, 09/15/23

     9,350,000         7,150,786   

T-Mobile USA, Inc., 6.500%, 01/15/24

     1,990,000         2,069,600   

T-Mobile USA, Inc., 6.542%, 04/28/20

     1,940,000         2,003,050   

T-Mobile USA, Inc., 6.633%, 04/28/21

     2,490,000         2,602,050   
 

 

See Notes to Financial Statements.

 

67

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Income Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Telecommunication Services—continued

  

Trilogy International Partners LLC/Trilogy International Finance, Inc., 10.250%, 08/15/16(d)(i)

     8,260,000         7,289,450   

ViaSat, Inc., 6.875%, 06/15/20

     3,945,000         4,097,869   

West Corp.,
5.375%, 07/15/22(a)

     670,000         614,591   

Wind Acquisition Finance SA, 7.375%, 04/23/21(a)

     2,885,000         2,610,925   
    

 

 

  
       52,282,334   
    

 

 

  

Transportation 1.5%

  

   

Eletson Holdings,
9.625%, 01/15/22(d)

     2,420,000         1,887,600   

Florida East Coast Holdings Corp., 6.750%, 05/01/19(a)

     2,985,000         2,985,000   

Hornbeck Offshore Services, Inc., 1.500%, 09/01/19

     1,985,000         1,177,353   

Hornbeck Offshore Services, Inc., 5.000%, 03/01/21(d)

     4,575,000         2,745,000   
    

 

 

  
       8,794,953   
    

 

 

  

Total Corporate Bonds
(Cost $579,379,480)

        543,447,548   
    

 

 

  

Convertible Preferred Stock 0.2%

  

   

Telecommunication Services 0.2%

  

T-Mobile US, Inc.,
5.500%, 12/15/17

     16,490         1,091,638   
    

 

 

  

Total Convertible Preferred Stock
(Cost $824,500)

   

      1,091,638   
    

 

 

  

Preferred Stock 0.5%

  

   

Banks 0.5%

     

GMAC Capital Trust I,
Series 2, 6.402%(b)

     121,110         2,968,406   
    

 

 

  

Total Preferred Stock
(Cost $3,027,750)

        2,968,406   
    

 

 

  

Common Stocks 1.2%

  

   

Auto Manufacturers 0.9%

     

General Motors Co.

     179,362         5,637,348   
    

 

 

  

Energy-Alternate Sources 0.0%(e)

  

   

Pacific Ethanol, Inc.*

     55,001         257,402   
    

 

 

  

Telecommunication Services 0.3%

  

   

NII Holding, Inc.*(f)

     284,455         1,573,036   
    

 

 

  

Total Common Stocks
(Cost $14,691,746)

        7,467,786   
    

 

 

  

Money Market Funds 13.4%

  

   

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.19%(k)

     19,562,804         19,562,804   
     Shares or
Principal
Amount($)		      Value($)  

Money Market Funds—continued

  

   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(k)(l)

     61,871,816         61,871,816   
    

 

 

  

Total Money Market Funds
(Cost $81,434,620)

        81,434,620   
    

 

 

  

Total Investments
(Cost $709,217,170) — 108.6%

        657,923,415   

Liabilities in Excess of Other
Assets — (8.6)%

        (52,005,218 ) 
    

 

 

  

Net Assets — 100.0%

      $ 605,918,197   
    

 

 

  

 

* Non-income producing security.

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 40.1% of net assets as of March 31, 2016.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(c) Security is in default.

 

(d) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees. These securities represent 4.0% of net assets as of March 31, 2016.

 

(e) Less than 0.05% of Net Assets.

 

(f) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $61,452,599.

 

(g) Valued at fair value using procedures approved by the Board of Trustees (See Note 2(a)). Fair valued securities held by the Fund represent 0.0% of net assets as of March 31, 2016.

 

(h) Perpetual maturity.

 

(i) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(j) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(k) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(l) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $64,192,704. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,320,888. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(k)).

Investment Abbreviations

 

MTN   —   Medium Term Note
PIK   —   Payment in-kind
 

 

See Notes to Financial Statements.

 

68

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund

 

     Shares or
Principal
Amount($)		      Value($)  

Bank Loans 3.8%

     

Chemicals 0.4%

     

Kraton Polymers LLC, Term Loan B, 6.000%, 01/06/22(a)(b)(c)

     2,220,000         2,090,685   
    

 

 

  

Energy 0.2%

     

Azure Midstream Energy LLC, Term Loan B, 7.500%, 11/15/18(a)(b)

     1,200,846         600,423   

Templar Energy LLC, New 2nd Lien Term Loan, 8.500%, 11/25/20(a)(b)(d)

     5,525,271         547,002   
    

 

 

  
       1,147,425   
    

 

 

  

Healthcare 0.3%

     

inVentiv Health, Inc., Term Loan B4, 7.750%, 05/15/18(a)(b)

     1,735,000         1,730,662   
    

 

 

  

Metals/Minerals 0.6%

     

FMG Resources (August 2006) Pty Ltd., New Term Loan B,
4.250%, 06/30/19(a)(b)

     3,860,506         3,255,681   
    

 

 

  

Retail 1.9%

     

J.C. Penney Corp., Inc., 1st Lien Term Loan, 6.000%, 05/22/18(a)(b)

     4,206,603         4,210,809   

Sears Roebuck Acceptance Corp., 2015 Term Loan, 5.500%, 06/30/18(a)(b)

     4,283,252         4,069,089   

Toys ‘R’ Us-Delaware, Inc.,
Term Loan B4,
9.750%, 04/24/20(a)(b)

     2,301,202         1,848,625   
    

 

 

  
       10,128,523   
    

 

 

  

Service 0.4%

     

Asurion LLC, New Term
Loan B1,
5.000%, 05/24/19(a)(b)

     2,213,501         2,180,299   
    

 

 

  

Total Bank Loans
(Cost $26,853,553)

        20,533,275   
    

 

 

  

Corporate Bonds 87.8%

     

Advertising 0.3%

     

MDC Partners, Inc., 6.500%, 05/01/24(b)

     1,340,000         1,368,475   
    

 

 

  

Airlines 1.9%

     

Air Canada, 6.750%, 10/01/19(b)

     2,600,000         2,691,000   

American Airlines Pass Through Trust, Series 2013-2, Cl B,
5.600%, 07/15/20(b)

     3,427,545         3,461,821   
     Shares or
Principal
Amount($)		      Value($)  

Airlines—continued

     

United Airlines Pass Through Trust, Series 2014-1, Cl B, 4.750%, 04/11/22

     3,256,157         3,223,595   

VistaJet Malta Finance PLC/VistaJet Co. Finance LLC, 7.750%, 06/01/20(e)

     1,850,000         818,625   
    

 

 

  
       10,195,041   
    

 

 

  

Banks 1.1%

     

CIT Group, Inc., 5.375%, 05/15/20

     1,452,000         1,506,450   

Provident Funding Associates LP/PFG Finance Corp., 6.750%, 06/15/21(b)

     4,320,000         4,093,200   
    

 

 

  
       5,599,650   
    

 

 

  

Building Materials 1.0%

     

GCP Applied Technologies, Inc., 9.500%, 02/01/23(b)

     813,000         882,105   

Summit Materials LLC/Summit Materials Finance Corp., 6.125%, 07/15/23

     1,080,000         1,026,000   

USG Corp., 5.875%, 11/01/21(b)

     3,385,000         3,537,325   
    

 

 

  
       5,445,430   
    

 

 

  

Chemicals 2.4%

     

Blue Cube Spinco, Inc., 9.750%, 10/15/23(b)

     2,285,000         2,610,612   

Blue Cube Spinco, Inc., 10.000%, 10/15/25(b)

     2,060,000         2,353,550   

Chemours Co. (The),
7.000%, 05/15/25(b)

     2,705,000         2,164,000   

Nufarm Australia Ltd.,
6.375%, 10/15/19(b)

     2,480,000         2,430,400   

Platform Specialty Products Corp., 10.375%, 05/01/21(b)

     3,570,000         3,453,975   
    

 

 

  
       13,012,537   
    

 

 

  

Coal 1.0%

     

CONSOL Energy, Inc.,
5.875%, 04/15/22(f)

     5,379,000         3,876,215   

CONSOL Energy, Inc.,
8.000%, 04/01/23(f)

     2,250,000         1,681,200   
    

 

 

  
       5,557,415   
    

 

 

  

Commercial Services 6.2%

     

Flexi-Van Leasing, Inc., 7.875%, 08/15/18(b)

     1,600,000         1,584,000   

Harland Clarke Holdings Corp.,
6.875%, 03/01/20(b)

     5,195,000         4,623,550   

Harland Clarke Holdings Corp.,
9.750%, 08/01/18(b)

     7,474,000         7,361,890   
 

 

See Notes to Financial Statements.

 

69

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Commercial Services—continued

  

Hertz Corp. (The), 4.250%, 04/01/18

     160,000         160,000   

Hertz Corp. (The), 5.875%, 10/15/20(f)

     3,170,000         3,206,772   

Hertz Corp. (The), 6.750%, 04/15/19

     2,662,000         2,700,572   

Prospect Medical Holdings, Inc., 8.375%, 05/01/19(b)

     2,535,000         2,617,388   

Quad/Graphics, Inc., 7.000%, 05/01/22

     3,530,000         2,929,900   

TMS International Corp., 7.625%, 10/15/21(e)(g)

     8,591,000         5,025,735   

United Rentals North America, Inc., 7.625%, 04/15/22

     2,530,000         2,694,450   
    

 

 

  
       32,904,257   
    

 

 

  

Distribution/Wholesale 0.6%

     

Univar USA, Inc., 6.750%, 07/15/23(b)

     3,270,000         3,192,338   
    

 

 

  

Diversified Financial Services 10.4%

  

   

AerCap Ireland Capital Ltd./AerCap Global Aviation Trust, 4.625%, 10/30/20

     1,200,000         1,230,000   

Alliance Data Systems Corp., 5.375%, 08/01/22(b)

     1,395,000         1,307,813   

Ally Financial, Inc., 3.250%, 11/05/18

     1,450,000         1,426,075   

Ally Financial, Inc., 7.500%, 09/15/20

     5,201,000         5,760,107   

Ally Financial, Inc., 8.000%, 03/15/20

     5,673,000         6,353,760   

ILFC E-Capital Trust I,
4.240%, 12/21/65(a)(e)

     6,750,000         5,467,500   

International Lease Finance Corp., 8.250%, 12/15/20

     5,890,000         6,876,575   

Jefferies Finance LLC/JFIN Co-Issuer Corp., 7.375%, 04/01/20(b)

     2,765,000         2,391,725   

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 08/01/18

     3,985,000         3,860,469   

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 07/01/21

     4,115,000         3,652,062   

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20(f)

     2,055,000         1,967,663   

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19(f)

     855,000         884,925   
     Shares or
Principal
Amount($)		      Value($)  

Diversified Financial Services—continued

  

   

Navient Corp., 4.875%, 06/17/19, MTN

     2,000,000         1,930,000   

Navient Corp., 5.000%, 10/26/20

     1,690,000         1,533,675   

Navient Corp., 5.500%, 01/15/19, MTN

     225,000         221,063   

Navient Corp., 8.000%, 03/25/20, MTN

     1,545,000         1,537,275   

Navient Corp., 8.450%, 06/15/18, MTN

     1,900,000         2,035,375   

Quicken Loans, Inc.,
5.750%, 05/01/25(b)

     5,390,000         5,228,300   

Walter Investment Management Corp., 7.875%, 12/15/21(f)

     2,585,000         1,680,250   
    

 

 

  
       55,344,612   
    

 

 

  

Electric 1.8%

     

Dynegy, Inc., 6.750%, 11/01/19

     3,755,000         3,736,225   

Dynegy, Inc., 7.375%, 11/01/22

     2,010,000         1,859,250   

Dynegy, Inc., 7.625%, 11/01/24

     865,000         784,988   

NRG Energy, Inc., 8.250%, 09/01/20

     3,105,000         3,128,287   
    

 

 

  
       9,508,750   
    

 

 

  

Electronics 0.3%

     

Allegion PLC, 5.875%, 09/15/23

     1,563,000         1,645,058   
    

 

 

  

Entertainment 0.6%

     

Greektown Holdings LLC/Greektown Mothership Corp.,
8.875%, 03/15/19(b)

     2,940,000         3,013,500   
    

 

 

  

Environmental Control 0.2%

     

GFL Environmental, Inc., 9.875%, 02/01/21(b)

     1,006,000         1,046,240   
    

 

 

  

Food 2.6%

     

JBS USA LLC/JBS USA Finance, Inc., 5.750%, 06/15/25(b)

     3,400,000         2,975,000   

JBS USA LLC/JBS USA Finance, Inc., 8.250%, 02/01/20(b)

     1,610,000         1,650,250   

Pilgrim’s Pride Corp.,
5.750%, 03/15/25(b)

     1,730,000         1,736,487   

Post Holdings, Inc., 7.375%, 02/15/22

     3,510,000         3,711,825   

Post Holdings, Inc.,
8.000%, 07/15/25(b)(f)

     3,475,000         3,857,250   
    

 

 

  
       13,930,812   
    

 

 

  
 

 

See Notes to Financial Statements.

 

70

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Forest Products & Paper 0.4%

  

   

Resolute Forest Products, Inc., 5.875%, 05/15/23(f)

     3,447,000         2,326,725   
    

 

 

  

Healthcare-Products 0.8%

  

   

Kinetic Concepts, Inc./KCI USA, Inc., 7.875%, 02/15/21(b)

     3,216,000         3,400,920   

Teleflex, Inc., 5.250%, 06/15/24

     1,078,000         1,103,603   
    

 

 

  
       4,504,523   
    

 

 

  

Healthcare-Services 6.6%

     

Centene Escrow Corp., 5.625%, 02/15/21(b)

     3,535,000         3,685,237   

Centene Escrow Corp.,
6.125%, 02/15/24(b)

     760,000         799,900   

CHS/Community Health Systems, Inc., 5.125%, 08/15/18

     1,260,000         1,269,450   

CHS/Community Health Systems, Inc., 6.875%, 02/01/22(f)

     2,075,000         1,872,688   

CHS/Community Health Systems, Inc., 8.000%, 11/15/19(f)

     3,160,000         3,077,050   

HCA Holdings, Inc., 6.250%, 02/15/21

     2,548,000         2,739,100   

HCA, Inc., 5.250%, 06/15/26

     2,085,000         2,137,125   

HCA, Inc., 6.500%, 02/15/20

     3,195,000         3,506,512   

inVentiv Health, Inc.,
9.000%, 01/15/18(b)

     2,735,000         2,823,888   

Kindred Healthcare, Inc., 8.000%, 01/15/20

     2,405,000         2,386,963   

Tenet Healthcare Corp., 6.000%, 10/01/20

     3,575,000         3,807,375   

Tenet Healthcare Corp., 6.750%, 06/15/23

     5,170,000         4,950,275   

Tenet Healthcare Corp., 8.000%, 08/01/20(f)

     595,000         612,106   

WellCare Health Plans, Inc., 5.750%, 11/15/20

     1,250,000         1,293,750   
    

 

 

  
       34,961,419   
    

 

 

  

Home Builders 1.9%

     

DR Horton, Inc., 4.000%, 02/15/20

     1,895,000         1,951,850   

Lennar Corp., 4.750%, 04/01/21

     2,022,000         2,047,275   

PulteGroup, Inc., 4.250%, 03/01/21

     2,187,000         2,219,805   

Shea Homes LP/Shea Homes Funding Corp., 5.875%, 04/01/23(b)

     1,755,000         1,730,869   
     Shares or
Principal
Amount($)		      Value($)  

Home Builders—continued

     

Shea Homes LP/Shea Homes Funding Corp., 6.125%, 04/01/25(b)

     1,755,000         1,719,900   

Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.250%, 04/15/21(b)

     595,000         583,100   
    

 

 

  
       10,252,799   
    

 

 

  

Household Products/Wares 0.3%

  

   

Century Intermediate Holding Co. 2, PIK, 9.750%, 02/15/19(b)

     1,368,000         1,390,230   
    

 

 

  

Insurance 1.7%

     

Assured Guaranty US Holdings, Inc., Series A, 6.400%, 12/15/66(a)(e)

     337,000         232,530   

Radian Group, Inc., 5.500%, 06/01/19

     3,549,000         3,611,107   

Radian Group,Inc., 7.000%, 03/15/21

     1,617,000         1,674,404   

Sirius International Group Ltd.,
7.506%(a)(b)(h)

     3,570,000         3,525,375   
    

 

 

  
       9,043,416   
    

 

 

  

Iron/Steel 0.3%

     

Steel Dynamics, Inc., 5.125%, 10/01/21

     1,380,000         1,393,800   
    

 

 

  

Leisure Time 0.7%

     

NCL Corp. Ltd., 5.250%, 11/15/19(b)

     1,285,000         1,310,700   

Viking Cruises Ltd., 8.500%, 10/15/22(b)

     2,825,000         2,669,625   
    

 

 

  
       3,980,325   
    

 

 

  

Lodging 0.8%

     

Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.500%, 07/01/19(b)(g)

     2,690,000         2,555,500   

MGM Resorts International, 6.000%, 03/15/23(f)

     1,485,000         1,536,975   
    

 

 

  
       4,092,475   
    

 

 

  

Media 7.0%

     

Altice Financing SA,
6.500%, 01/15/22(b)

     2,655,000         2,701,462   

Altice Financing SA,
6.625%, 02/15/23(b)

     2,510,000         2,516,275   

Altice Finco SA, 7.625%, 02/15/25(b)

     1,675,000         1,603,813   

Altice Luxembourg SA, 7.750%, 05/15/22(b)

     1,625,000         1,599,130   
 

 

See Notes to Financial Statements.

 

71

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Media—continued

     

Cablevision Systems Corp., 8.000%, 04/15/20

     2,140,000         2,075,800   

CCO Holdings LLC/Cap Corp., 5.750%, 09/01/23

     2,485,000         2,578,187   

Clear Channel Worldwide Holdings, Inc., Series B, 6.500%, 11/15/22

     2,265,000         2,253,675   

DISH DBS Corp., 5.125%, 05/01/20

     4,600,000         4,565,500   

DISH DBS Corp., 6.750%, 06/01/21

     2,335,000         2,410,888   

DISH DBS Corp., 7.875%, 09/01/19

     500,000         550,000   

Lee Enterprises, Inc.,

9.500%, 03/15/22(b)(f)

     2,590,000         2,547,912   

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 9.750%, 04/01/21

     2,790,000         3,027,150   

Numericable-SFR, 6.000%, 05/15/22(b)

     2,615,000         2,549,625   

Univision Communications, Inc., 5.125%, 05/15/23(b)

     1,655,000         1,646,725   

Univision Communications, Inc., 6.750%, 09/15/22(b)

     1,495,000         1,584,700   

VTR Finance BV, 6.875%, 01/15/24(b)

     2,000,000         1,950,000   

Ziggo Bond Finance BV, 5.875%, 01/15/25(b)

     815,000         798,700   
    

 

 

  
       36,959,542   
    

 

 

  

Mining 0.8%

     

FMG Resources August 2006 Pty Ltd., 9.750%, 03/01/22(b)(f)

     2,140,000         2,134,650   

Imperial Metals Corp.,
7.000%, 03/15/19(e)

     2,314,000         2,013,180   
    

 

 

  
       4,147,830   
    

 

 

  

Miscellaneous Manufacturer 1.2%

  

Bombardier, Inc., 7.500%, 03/15/18(b)(f)

     6,640,000         6,540,400   
    

 

 

  

Office/Business Equipment 0.2%

  

CDW LLC/CDW Finance Corp., 6.000%, 08/15/22

     1,230,000         1,299,950   
    

 

 

  

Oil & Gas 9.1%

     

Antero Resources Corp., 6.000%, 12/01/20

     4,480,000         4,256,000   

Atwood Oceanics, Inc., 6.500%, 02/01/20(f)

     2,933,000         1,393,175   
     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

     

Carrizo Oil & Gas, Inc., 7.500%, 09/15/20(f)

     3,080,000         2,872,100   

Chesapeake Energy Corp., 5.750%, 03/15/23(f)

     4,725,000         1,606,500   

Chesapeake Energy Corp., 6.625%, 08/15/20(f)

     855,000         333,450   

Chesapeake Energy Corp., 6.875%, 11/15/20

     4,625,000         1,815,313   

CITGO Petroleum Corp., 6.250%, 08/15/22(b)

     1,670,000         1,611,550   

Concho Resources, Inc., 7.000%, 01/15/21

     920,000         929,200   

Continental Resources, Inc., 5.000%, 09/15/22

     1,190,000         1,025,631   

Continental Resources, Inc., 7.125%, 04/01/21

     70,000         65,450   

Diamondback Energy, Inc., 7.625%, 10/01/21(f)

     1,440,000         1,483,200   

EP Energy LLC/Everest Acquisition Finance, Inc., 9.375%, 05/01/20

     915,000         461,503   

Hilcorp Energy I LP/Hilcorp Finance Co., 5.000%, 12/01/24(b)

     2,810,000         2,367,425   

Hilcorp Energy I LP/Hilcorp Finance Co., 7.625%, 04/15/21(b)(f)

     3,065,000         2,919,412   

Oasis Petroleum, Inc.,
7.250%, 02/01/19(f)

     1,925,000         1,467,813   

Offshore Drilling Holding SA, 8.375%, 09/20/20(b)

     2,020,000         964,550   

PBF Holding Co. LLC/PBF Finance Corp., 7.000%, 11/15/23(b)

     1,745,000         1,655,569   

Petrobras Global Finance BV, 5.625%, 05/20/43

     2,335,000         1,517,750   

Precision Drilling Corp., 5.250%, 11/15/24

     2,167,000         1,533,153   

Precision Drilling Corp., 6.625%, 11/15/20

     1,491,588         1,193,270   

Range Resources Corp., 5.750%, 06/01/21

     2,860,000         2,523,950   

Rice Energy, Inc., 6.250%, 05/01/22

     430,000         374,100   

Rice Energy, Inc., 7.250%, 05/01/23

     2,200,000         1,925,000   

Rowan Cos., Inc., 5.000%, 09/01/17

     1,640,000         1,578,807   

RSP Permian, Inc., 6.625%, 10/01/22

     1,865,000         1,837,025   
 

 

See Notes to Financial Statements.

 

72

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

     

Seven Generations Energy Ltd., 6.750%, 05/01/23(b)(f)

     2,858,000         2,693,665   

Southwestern Energy Co., 4.050%, 01/23/20

     1,720,000         1,247,000   

Southwestern Energy Co., 7.500%, 02/01/18(f)

     3,215,000         2,692,562   

Whiting Petroleum Corp., 5.000%, 03/15/19

     780,000         540,150   

WPX Energy, Inc., 5.250%, 01/15/17(f)

     1,290,000         1,270,650   
    

 

 

  
       48,154,923   
    

 

 

  

Oil & Gas Services 0.8%

  

   

FTS International, Inc.,
8.134%, 06/15/20(a)(b)(f)

     1,755,000         1,183,728   

KCA Deutag UK Finance PLC, 7.250%, 05/15/21(e)

     2,670,000         1,668,750   

Oceaneering International, Inc., 4.650%, 11/15/24

     1,440,000         1,240,127   
    

 

 

  
       4,092,605   
    

 

 

  

Pharmaceuticals 2.5%

  

   

Endo Finance LLC/Endo Finco, Inc., 7.750%, 01/15/22(b)

     1,370,000         1,397,414   

Endo Finance LLC/Endo Ltd./Endo Finco, Inc., 6.000%, 07/15/23(b)

     4,025,000         3,788,531   

Valeant Pharmaceuticals International, 6.750%, 08/15/21(b)

     1,680,000         1,369,200   

Valeant Pharmaceuticals International, 7.000%, 10/01/20(b)

     2,900,000         2,436,000   

Valeant Pharmaceuticals International, Inc., 6.750%, 08/15/18(b)(f)

     4,605,000         4,179,037   
    

 

 

  
       13,170,182   
    

 

 

  

Pipelines 5.2%

  

   

Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.125%, 03/01/22

     3,725,000         2,793,750   

DCP Midstream Operating LP, 2.500%, 12/01/17

     2,040,000         1,943,114   

Energy Transfer Equity LP, 7.500%, 10/15/20

     2,095,000         2,016,437   

Kinder Morgan Energy Partners LP, 9.000%, 02/01/19

     3,420,000         3,881,392   

Rockies Express Pipeline LLC, 6.000%, 01/15/19(b)

     2,650,000         2,583,750   
     Shares or
Principal
Amount($)		      Value($)  

Pipelines—continued

  

   

Rockies Express Pipeline LLC, 6.850%, 07/15/18(b)

     1,105,000         1,102,238   

Sabine Pass Liquefaction LLC, 5.625%, 02/01/21

     7,085,000         6,810,456   

Sabine Pass Liquefaction LLC, 5.625%, 04/15/23

     1,515,000         1,439,250   

Targa Resources Partners LP/Targa Resources Partners Finance Corp., 5.000%, 01/15/18

     535,000         533,663   

Targa Resources Partners LP/Targa Resources Partners Finance Corp., 5.250%, 05/01/23

     989,000         912,353   

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 5.500%, 10/15/19(b)

     2,591,000         2,578,045   

Williams Cos., Inc. (The), 5.750%, 06/24/44

     1,590,000         1,057,350   
    

 

 

  
       27,651,798   
    

 

 

  

Private Equity 0.7%

  

   

Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.000%, 08/01/20

     4,005,000         3,894,862   
    

 

 

  

Real Estate 1.8%

  

   

Greystar Real Estate Partners LLC, 8.250%, 12/01/22(b)

     326,000         336,595   

Howard Hughes Corp. (The), 6.875%, 10/01/21(b)

     7,195,000         7,087,075   

Realogy Group LLC/Realogy Co-Issuer Corp., 5.250%, 12/01/21(b)(f)

     1,935,000         1,997,887   
    

 

 

  
       9,421,557   
    

 

 

  

Real Estate Investment Trust 2.1%

  

   

iStar, Inc., 5.000%, 07/01/19

     1,100,000         1,056,000   

iStar, Inc., 6.500%, 07/01/21

     2,900,000         2,823,875   

iStar, Inc., 7.125%, 02/15/18

     5,030,000         5,092,875   

iStar, Inc., 9.000%, 06/01/17

     1,990,000         2,069,600   
    

 

 

  
       11,042,350   
    

 

 

  

Retail 2.0%

     

Guitar Center, Inc.,
6.500%, 04/15/19(b)(f)

     2,893,000         2,603,700   

Limited Brands, Inc., 6.625%, 04/01/21

     1,135,000         1,276,762   

Men’s Wearhouse, Inc. (The), 7.000%, 07/01/22

     1,785,000         1,512,787   

Rite Aid Corp., 6.125%, 04/01/23(b)

     3,175,000         3,365,500   
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Retail—continued

     

Toys R Us Property Co. II LLC, 8.500%, 12/01/17

     2,120,000         2,067,000   
    

 

 

  
       10,825,749   
    

 

 

  

Semiconductors 0.5%

  

   

Micron Technology, Inc., 5.625%, 01/15/26(b)

     1,855,000         1,465,450   

Micron Technology, Inc., 5.875%, 02/15/22

     1,110,000         960,150   
    

 

 

  
       2,425,600   
    

 

 

  

Software 0.4%

  

   

First Data Corp., 6.750%, 11/01/20(b)

     2,020,000         2,124,030   
    

 

 

  

Telecommunication Services 8.1%

  

   

Avaya, Inc., 7.000%, 04/01/19(b)(f)

     750,000         506,250   

Avaya, Inc., 9.000%, 04/01/19(b)

     1,385,000         934,875   

CenturyLink, Inc., Series Y, 7.500%, 04/01/24(c)

     1,995,000         1,999,987   

DigitalGlobe, Inc., 5.250%, 02/01/21(e)

     1,450,000         1,319,500   

Intelsat Jackson Holdings SA, 8.000%, 02/15/24(b)(f)

     2,632,000         2,710,960   

Level 3 Financing, Inc., 6.125%, 01/15/21

     5,500,000         5,761,250   

Sprint Capital Corp.,
8.750%, 03/15/32(g)

     2,430,000         1,901,475   

Sprint Communications, Inc., 7.000%, 03/01/20(b)(f)

     2,590,000         2,590,000   

Sprint Communications, Inc., 9.000%, 11/15/18(b)

     2,430,000         2,545,425   

Sprint Communications, Inc., 11.500%, 11/15/21

     3,740,000         3,328,600   

Sprint Corp., 7.875%, 09/15/23

     2,995,000         2,290,546   

T-Mobile USA, Inc., 6.500%, 01/15/24

     1,930,000         2,007,200   

T-Mobile USA, Inc., 6.542%, 04/28/20

     1,655,000         1,708,787   

T-Mobile USA, Inc., 6.633%, 04/28/21

     4,865,000         5,083,925   

ViaSat, Inc., 6.875%, 06/15/20

     5,285,000         5,489,794   

West Corp., 5.375%, 07/15/22(b)

     585,000         536,621   

Wind Acquisition Finance SA, 7.375%, 04/23/21(b)

     2,560,000         2,316,800   
    

 

 

  
       43,031,995   
    

 

 

  

Transportation 1.5%

     

Eletson Holdings, 9.625%, 01/15/22(e)

     2,070,000         1,614,600   
     Shares or
Principal
Amount($)		      Value($)  

Transportation—continued

     

Florida East Coast Holdings Corp., 6.750%, 05/01/19(b)

     3,035,000         3,035,000   

Hornbeck Offshore Services, Inc., 1.500%, 09/01/19

     1,775,000         1,052,797   

Hornbeck Offshore Services, Inc., 5.000%, 03/01/21(e)

     4,045,000         2,427,000   
    

 

 

  
       8,129,397   
    

 

 

  

Total Corporate Bonds
(Cost $487,597,191)

        466,622,597   
    

 

 

  
Convertible Preferred Stock 0.2%      

Telecommunication Services 0.2%

  

   

T-Mobile US, Inc., 5.500%, 12/15/17

     14,325         948,315   
    

 

 

  

Total Convertible Preferred Stock
(Cost $716,250)

   

      948,315   
    

 

 

  
Common Stock 0.2%     

Telecommunication Services 0.2%

  

   

NII Holding, Inc.*(f)

     174,597         965,521   
    

 

 

  

Total Common Stock
(Cost $2,946,329)

        965,521   
    

 

 

  

Money Market Funds 16.3%

  

   

State Street Institutional Treasury Money Market Fund, Institutional Class,
0.19%(i)

     39,832,036         39,832,036   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(i)(j)

     46,697,565         46,697,565   
    

 

 

  

Total Money Market Funds
(Cost $86,529,601)

        86,529,601   
    

 

 

  

Total Investments
(Cost $604,642,924) — 108.3%

   

      575,599,309   

Liabilities in Excess of Other
Assets — (8.3)%

        (44,357,233 ) 
    

 

 

  

Net Assets — 100.0%

      $ 531,242,076   
    

 

 

  

 

* Non-income producing security.

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 40.2% of net assets as of March 31, 2016.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Security is in default.
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund — concluded

 

 

(e) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees. These securities represent 3.9% of net assets as of March 31, 2016.

 

(f) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $46,040,107.

 

(g) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(h) Perpetual maturity.
(i) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(j) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $47,835,215. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,137,650. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(k)).

Investment Abbreviations

 

MTN   —   Medium Term Note
PIK   —   Payment in-kind
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix Investment Grade Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 88.5%     

Alabama 2.5%

     

Birmingham, Series A, GO, 0.000%, 03/01/27(a)

     2,500,000         2,778,775   

Birmingham, Series A, GO, 0.000%, 03/01/37(a)

     3,000,000         3,202,140   

Birmingham Special Care Facilities Financing Authority Health Care Facilities, Children’s Hospital of Alabama, RB, 6.000%, 06/01/39,
AGC(b)

     9,000,000         10,378,710   
    

 

 

  
       16,359,625   
    

 

 

  

Alaska 7.2%

     

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 5.500%, 09/01/23, AGC(b)

     18,000,000         20,602,800   

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, Pre-refunded 09/01/2019 @ 100, AGC

     9,850,000         11,521,840   

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, AGC

     5,650,000         6,578,521   

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/32, AGC

     7,250,000         8,480,543   
    

 

 

  
       47,183,704   
    

 

 

  

Arizona 1.4%

     

Salt River Project Agricultural Improvement & Power District, Series A, RB, 5.000%, 12/01/36

     7,500,000         8,966,175   
    

 

 

  

California 17.9%

     

California Health Facilities Financing Authority, Series C, RB, 6.250%, 10/01/24

     3,500,000         3,977,750   

California Health Facilities Financing Authority, Series C, RB, 6.500%, 10/01/38(b)

     5,400,000         6,164,694   

California Infrastructure & Economic Development Bank, RB, 5.000%, 11/01/35

     2,000,000         2,347,940   
     Shares or
Principal
Amount($)		      Value($)  

California—continued

     

California State, GO, 4.000%, 09/01/35

     1,800,000         1,976,886   

California State, GO, 4.000%, 09/01/36

     1,000,000         1,093,560   

California State, GO, 5.000%, 08/01/35

     1,000,000         1,197,720   

California State, GO, 5.000%, 09/01/35

     5,000,000         6,088,750   

California State, GO, 5.000%, 09/01/36

     2,000,000         2,425,340   

California State, GO, 5.000%, 09/01/45

     6,980,000         8,331,119   

California State, GO,
6.500%, 04/01/33(b)

     24,500,000         28,567,735   

California State, Series C, GO, 5.000%, 09/01/32

     9,950,000         12,099,896   

Los Angeles California Wastewater System, Series A, RB, 5.750%, 06/01/34

     2,225,000         2,544,243   

Los Angeles California Wastewater System, Series A, RB, 5.750%, 06/01/34, Pre-refunded
06/01/2019 @ 100

     2,775,000         3,201,129   

Los Angeles County Regional Financing Authority, Series B-2, RB, 3.000%, 11/15/20, CA MTG INS

     1,500,000         1,503,315   

San Diego Redevelopment Agency Successor Agency, Series A, 5.000%, 09/01/27

     500,000         625,720   

San Francisco City & County Airports Commission, AMT, RB, 5.750%, 05/01/24, AGM

     5,000,000         5,509,550   

Santa Clara Valley Water District, Series A, RB, 5.000%, 06/01/46

     4,000,000         4,759,280   

University of California, Series A, RB, 5.000%, 11/01/31(c)

     3,000,000         3,697,650   

University of California, Series O, RB, 5.750%, 05/15/27

     3,000,000         3,457,500   

University of California, Series O, RB, 5.750%, 05/15/28(b)

     10,000,000         11,525,000   

University of California, Series O, RB, 5.750%, 05/15/29(b)

     5,095,000         5,871,988   
    

 

 

  
       116,966,765   
    

 

 

  
 

 

See Notes to Financial Statements.

 

76

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Delaware 0.3%

     

Delaware Transportation Authority, RB, 5.000%, 06/01/45

     1,750,000         2,034,708   
    

 

 

  

District of Columbia 1.4%

     

District of Columbia, Income Tax, Series A, RB, 5.500%, 12/01/30(b)

     8,000,000         9,309,520   
    

 

 

  

Florida 5.0%

     

Florida State, Series D, GO, 5.000%, 06/01/18

     5,000,000         5,456,350   

Miami Beach Redevelopment Agency, 5.000%, 02/01/34

     1,470,000         1,701,598   

Miami-Dade County, Building Better Communities Program, Series B, GO, 6.000%, 07/01/23

     2,000,000         2,227,640   

Miami-Dade County, Building Better Communities Program, Series B, GO, 6.125%, 07/01/25

     3,000,000         3,349,800   

Orlando FL Contract Tourist DE, Series A, RB, 5.250%, 11/01/34

     3,785,000         4,533,257   

South Florida Water Management District, COP, 5.000%, 10/01/36

     4,000,000         4,766,760   

Tampa Bay Water, Series A, RB, 5.000%, 10/01/36

     3,760,000         4,538,433   

Tampa Bay Water, Series A, RB, 5.000%, 10/01/37

     4,000,000         4,807,880   

Tampa FL Health System Revenue, Series A, RB, 4.000%, 11/15/46(c)

     1,000,000         1,041,450   
    

 

 

  
       32,423,168   
    

 

 

  

Georgia 4.7%

     

Georgia State, Series A, GO, 5.000%, 01/01/26

     5,000,000         6,104,950   

Gwinnett County School District, GO, 5.000%, 02/01/35

     11,000,000         13,378,420   

Sandy Springs Public Facilities Authority, RB, 5.000%, 05/01/41

     9,660,000         11,553,070   
    

 

 

  
       31,036,440   
    

 

 

  

Guam 0.2%

     

Guam Power Authority, Series A, RB, 5.000%, 10/01/28

     1,000,000         1,153,940   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Hawaii 2.7%

     

Hawaii State, Series EE, GO, 5.000%, 11/01/29

     6,750,000         8,050,455   

University of Hawaii, Series E, RB, 5.000%, 10/01/32(c)

     8,000,000         9,915,040   
    

 

 

  
       17,965,495   
    

 

 

  

Illinois 3.2%

     

Chicago O’Hare International Airport, AMT, RB, 4.000%, 01/01/27

     2,730,000         2,885,746   

Chicago O’Hare International Airport, RB, 5.000%, 01/01/31

     9,080,000         10,744,092   

Chicago O’Hare International Airport, Series B, RB, 5.000%, 01/01/33

     4,080,000         4,785,962   

University of Illinois, Auxiliary Facilities System, Series A, RB, 5.750%, 04/01/38

     2,000,000         2,282,000   
    

 

 

  
       20,697,800   
    

 

 

  

Kansas 4.9%

     

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, RB, 5.750%, 11/15/38(b)

     26,090,000         29,964,626   

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, Series D, RB, 5.000%, 11/15/22

     2,000,000         2,129,980   
    

 

 

  
       32,094,606   
    

 

 

  

Maryland 2.7%

     

Maryland State, Series A, GO, 5.000%, 03/01/24

     3,640,000         4,306,156   

Maryland State, Series B, GO, 5.000%, 08/01/25

     5,920,000         7,216,599   

Montgomery County, Series A, GO, 5.000%, 11/01/27

     5,000,000         6,262,600   
    

 

 

  
       17,785,355   
    

 

 

  

Massachusetts 4.6%

     

Commonwealth of Massachusetts, Series A, GO, 5.000%, 04/01/25

     5,520,000         6,532,092   

Massachusetts School Building Authority, Series C, RB, 5.000%, 08/15/36

     5,000,000         5,973,900   

Massachusetts State, Series A, GO, 5.000%, 07/01/30

     2,525,000         3,165,264   

Massachusetts State, Series A, GO, 5.000%, 07/01/31

     2,500,000         3,113,150   
 

 

See Notes to Financial Statements.

 

77

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Massachusetts—continued

     

Massachusetts State, Series A, GO, 5.000%, 07/01/32

     2,000,000         2,476,100   

Massachusetts State College Building Authority, Series B, RB, 5.000%, 05/01/34, ST INTERCEPT

     4,045,000         4,771,158   

Massachusetts State College Building Authority, Series B, RB, 5.000%, 05/01/39, ST INTERCEPT

     3,250,000         3,771,593   
    

 

 

  
       29,803,257   
    

 

 

  

Michigan 2.9%

     

Michigan Finance Authority, RB, 5.000%, 07/01/21

     14,000,000         15,325,100   

University of Michigan, RB, 5.000%, 04/01/36

     3,000,000         3,651,090   
    

 

 

  
       18,976,190   
    

 

 

  

Missouri 1.2%

     

Metropolitan St Louis Sewer District, Series B, RB, 5.000%, 05/01/35

     1,500,000         1,811,130   

Metropolitan St Louis Sewer District, Series B, RB, 5.000%, 05/01/36

     5,000,000         6,010,000   
    

 

 

  
       7,821,130   
    

 

 

  

New York 10.9%

     

Erie County Industrial Development Agency, City School District Buffalo, Series A, RB, 5.750%, 05/01/29, BHAC-CR-AGM

     5,340,000         5,889,700   

New York City Municipal Water Finance Authority, Water & Sewer System, Series A, RB, 5.750%, 06/15/40(b)

     15,330,000         16,936,584   

New York City Transitional Finance Authority, Building Aid, Series S-2, RB, 6.000%, 07/15/38, State Aid Withholding(b)

     7,500,000         8,342,325   

New York City Transitional Finance Authority Future Tax Secured Revenue, RB, 5.000%, 02/01/28

     5,000,000         5,384,200   

New York City Transitional Finance Authority Future Tax Secured Revenue, Series E-1, RB, 5.000%, 02/01/35

     3,500,000         4,217,850   
     Shares or
Principal
Amount($)		      Value($)  

New York—continued

     

New York City Transitional Finance Authority Future Tax Secured Revenue, Series E-1, RB, 5.000%, 02/01/37

     8,000,000         9,571,840   

New York City Transitional Finance Authority Future Tax Secured Revenue, Series E-1, RB, 5.000%, 02/01/39

     7,000,000         8,315,510   

New York State Dormitory Authority, Series A, RB, 5.000%, 03/15/28

     2,500,000         3,077,550   

Utility Debt Securitization Authority, RB, 5.000%, 12/15/37

     8,000,000         9,667,840   
    

 

 

  
       71,403,399   
    

 

 

  

North Carolina 0.3%

     

North Carolina State, Series C, GO, 5.000%, 05/01/18

     1,880,000         2,046,361   
    

 

 

  

Ohio 0.8%

     

Ohio State Water Development Authority Water Pollution Control Revenue, Series B, 5.000%, 12/01/28

     4,140,000         5,219,008   
    

 

 

  

Pennsylvania 2.8%

     

Pennsylvania Economic Development Financing Authority, RB, 5.000%, 07/01/21

     7,500,000         8,046,225   

University of Pittsburgh, Commonwealth System of Higher Education, Series B, RB, 5.500%, 09/15/23, GO of University

     6,750,000         7,654,770   

University of Pittsburgh, Commonwealth System of Higher Education, Series B, RB, 5.500%, 09/15/24, GO of University

     2,500,000         2,832,750   
    

 

 

  
       18,533,745   
    

 

 

  

Tennessee 0.4%

     

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Series A, RB, 5.000%, 07/01/40(c)

     2,000,000         2,304,760   
    

 

 

  

Texas 5.1%

     

Dallas Community College District, GO, 5.000%, 02/15/24

     5,850,000         6,291,967   
 

 

See Notes to Financial Statements.

 

78

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Investment Grade Tax-Exempt Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Texas—continued

     

Dallas Independent School District, GO, 6.375%, 02/15/34, PSF-GTD(b)

     6,000,000         6,624,480   

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB, 5.000%, 07/01/35

     7,100,000         7,793,741   

San Antonio City Water System Revenue, Series A, RB, 5.000%, 05/15/31

     1,750,000         2,149,613   

Texas State Public Finance Authority, Unemployment Comp., Series B, RB, 4.000%, 07/01/17

     10,000,000         10,268,500   
    

 

 

  
       33,128,301   
    

 

 

  

Washington 5.4%

     

Energy Northwest, RB, 5.000%, 07/01/24, Pre-refunded
07/01/2018 @ 100

     965,000         1,054,504   

Energy Northwest, RB, 5.000%, 07/01/24

     3,035,000         3,300,138   

Energy Northwest, Series A, RB, 5.000%, 07/01/26(c)

     3,250,000         4,166,077   

Washington State, Series A, GO, 5.000%, 08/01/24

     8,880,000         10,560,806   

Washington State, Series C, GO, 5.000%, 02/01/35

     13,500,000         16,268,850   
    

 

 

  
       35,350,375   
    

 

 

  

Total Municipal Bonds
(Cost $544,860,381)

        578,563,827   
    

 

 

  

Money Market Fund 12.3%

     

Federated Tax-Free Obligations Fund, Institutional Shares, 0.14%(d)

     80,641,465         80,641,465   
    

 

 

  

Total Money Market Fund
(Cost $80,641,465)

        80,641,465   
    

 

 

  
     Shares or
Principal
Amount($)		    Value($)  

Total Investments
(Cost $625,501,846) — 100.8%

        659,205,292   

Liabilities in Excess of Other
Assets — (0.8)%

        (4,909,619 ) 
    

 

 

  

Net Assets — 100.0%

      $ 654,295,673   
    

 

 

  

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2016.

 

(b) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

AGC   —   Security guaranteed by Assured Guaranty Corporation
AGM   —   Security guaranteed by Assured Guaranty Municipal Corporation
AMT   —   Income subject to Alternative Minimum Tax
BHAC   —   Security guaranteed by Berkshire Hathaway Assurance Corporation
CA MTG INS   —   California Mortgage Insurance
COP   —   Certificate of Participation
CR   —   Custodial Receipts
GO   —   General Obligation
PSF-GTD   —   Security guaranteed by Permanent School Fund Guarantee Program
RB   —   Revenue Bond
ST INTERCEPT   —   State Interception
 

 

See Notes to Financial Statements.

 

79

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Limited Duration Fund

 

    

Shares or

Principal

Amount($)

      Value($)  
Asset-Backed Securities 24.5%      

Automobiles 7.9%

     

Fifth Third Auto Trust, Series 2015-1, Cl A2B, 0.986%, 05/15/18(a)

     270,000         270,137   

Harley-Davidson Motorcycle Trust,
Series 2014-1, Cl A2B, 0.606%, 04/15/18(a)

     85,656         85,644   

World Omni Automobile Lease Securitization Trust, Series 2014-A, Cl A2A, 0.710%, 03/15/17

     171,295         171,110   
    

 

 

  
       526,891   
    

 

 

  

Credit Card 15.0%

     

American Express Issuance Trust II, Series 2013-1, Cl B, 0.886%, 02/15/19(a)

     400,000         398,102   

Barclays Dryrock Issuance Trust, Series 2014-1, Cl A, 0.796%, 12/16/19(a)

     300,000         299,910   

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A, 0.886%, 07/15/22(a)

     300,000         295,113   
    

 

 

  
       993,125   
    

 

 

  

Student Loan Asset Backed Security 1.6%

  

   

SLM Student Loan Trust, Series 2013-1, Cl A2, 0.683%, 09/25/19(a)

     109,837         108,484   
    

 

 

  

Total Asset-Backed Securities
(Cost $1,634,078)

        1,628,500   
    

 

 

  
Collateralized Mortgage Obligations 55.4%   

Agency Collateralized Mortgage Obligations 35.2%

  

Federal Home Loan Mortgage Corporation

     

Series 3066, Cl FG, REMIC,
0.636%, 03/15/24(a)

     889,726         892,763   

Series 4231, Cl FD, REMIC,
0.786%, 10/15/32(a)

     719,029         720,278   
    

 

 

  
       1,613,041   
    

 

 

  

Federal National Mortgage Association

     

Series 2004-79, Cl FM, 0.733%, 11/25/24(a)

     668,873         670,873   

Series 2005-107, Cl PF, 0.883%, 11/25/32(a)

     40,385         40,396   

Series 2010-90, Cl MF, 0.833%, 04/25/28(a)

     15,176         15,178   
    

 

 

  
       726,447   
    

 

 

  
    

Shares or

Principal

Amount($)

      Value($)  

Commercial Mortgage Backed Securities 20.2%

  

Federal Home Loan Mortgage Corporation

     

Series KF03, Cl A, 0.781%, 01/25/21(a)

     522,180         521,096   

Series KF05, Cl A, 0.782%, 09/25/21(a)

     822,393         819,083   
    

 

 

  
       1,340,179   
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $3,663,667)

        3,679,667   
    

 

 

  

U.S. Government Agency Mortgages 15.6%

  

   

Federal National Mortgage Association

     

Pool #AM6261, 0.645%, 07/01/19(a)

     620,000         619,973   

Pool #AM7028, 0.665%, 10/01/19(a)

     420,000         419,825   
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $1,039,219)

        1,039,798   
    

 

 

  

Money Market Fund 4.5%

     

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.19%(b)

     299,524         299,524   
    

 

 

  

Total Money Market Fund
(Cost $299,524)

        299,524   
    

 

 

  

Total Investments
(Cost $6,636,488) — 100.0%

        6,647,489   

Other Assets in Excess of Liabilities — 0.0%(c)

        1,077   
    

 

 

  

Net Assets — 100.0%

      $ 6,648,566   
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(c) Less than 0.05% of Net Assets.

Investment Abbreviation

REMIC — Real Estate Mortgage Investment Conduit

 

 

See Notes to Financial Statements.

 

80

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix North Carolina Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 95.8%     

Alabama 0.8%

     

Birmingham, Series A, GO, 0.000%, 03/01/32(a)

     215,000         233,458   
    

 

 

  

Guam 5.4%

     

Guam Power Authority, Series A, RB, 5.000%, 10/01/44, AGM

     1,000,000         1,145,040   

Guam Waterworks Authority, RB, 5.000%, 01/01/46

     270,000         306,361   

Territory of Guam, Series D, RB, 5.000%, 11/15/39

     100,000         113,033   
    

 

 

  
       1,564,434   
    

 

 

  

North Carolina 86.5%

     

Buncombe County Metropolitan Sewerage District, RB, 5.000%, 07/01/39

     1,000,000         1,165,020   

Charlotte Airport Revenue, Series B, AMT, RB, 5.500%, 07/01/23

     700,000         808,605   

Charlotte Water & Sewer System, RB, 5.000%, 07/01/21

     1,080,000         1,182,719   

Charlotte Water & Sewer System, RB, 5.000%, 07/01/40

     1,000,000         1,196,160   

Charlotte-Mecklenburg Hospital Authority (The), Series A, RB, 5.250%, 01/15/42

     1,000,000         1,133,980   

Forsyth County, GO, 5.000%, 02/01/22, Pre-refunded 02/01/2019 @ 100

     750,000         836,865   

New Hanover County Hospital, New Hanover Regional Medical Center, Series B, RB, 5.125%, 10/01/31, AGM(b)

     1,000,000         1,106,910   

North Carolina Capital Facilities Finance Agency, RB, 5.000%, 04/01/30

     1,000,000         1,162,950   

North Carolina Capital Facilities Finance Agency, RB, 5.250%, 03/01/33

     1,000,000         1,105,010   

North Carolina Infrastructure Finance Corp., Series A, COP, 5.000%, 02/01/24,
Pre-refunded
02/01/2017 @ 100, AGM

     1,000,000         1,036,960   

North Carolina Medical Care Commission Health Care Facilities, University Health Systems, Series D, RB,
6.250%, 12/01/33(b)

     1,500,000         1,712,955   
     Shares or
Principal
Amount($)		      Value($)  

North Carolina—continued

     

North Carolina Municipal Power Agency No. 1, Series A, RB, 5.000%, 01/01/30, Pre-refunded 01/01/2019 @ 100

     710,000         789,293   

North Carolina Municipal Power Agency No. 1, Series A, RB, 5.000%, 01/01/30

     290,000         318,475   

North Carolina State, Series A, GO, 5.000%, 06/01/17

     1,450,000         1,524,283   

North Carolina State Ports Authority Facilities, Series A, RB, 5.250%, 02/01/40(b)

     1,000,000         1,119,610   

North Carolina State University at Raleigh, Series A, RB, 5.000%, 10/01/37

     1,000,000         1,182,760   

Pitt County, RB, 5.000%, 04/01/28

     1,000,000         1,224,290   

Raleigh, RB, 5.000%, 02/01/23

     850,000         1,043,180   

Raleigh Combined Enterprise System Revenue, Series B, RB, 5.000%, 12/01/24

     1,000,000         1,278,740   

University of North Carolina at Charlotte, RB, 5.000%, 04/01/45

     1,500,000         1,750,545   

Wake County, Series A, GO, 4.000%, 02/01/27

     1,000,000         1,138,060   

Western Carolina University, Student Housing Project, RB,
4.000%, 06/01/39(c)

     1,250,000         1,326,775   
    

 

 

  
       25,144,145   
    

 

 

  

South Carolina 3.1%

     

South Carolina State Public Service Authority, Series A, RB, 5.750%, 12/01/43

     750,000         914,977   
    

 

 

  

Total Municipal Bonds
(Cost $26,074,868)

        27,857,014   
    

 

 

  

Money Market Fund 3.6%

     

Federated Tax-Free Obligations Fund, Institutional Shares, 0.14%(d)

     1,042,292         1,042,292   
    

 

 

  

Total Money Market Fund (Cost $1,042,292)

        1,042,292   
    

 

 

  

Total Investments
(Cost $27,117,160) — 99.4%

        28,899,306   

Other Assets in Excess of Liabilities — 0.6%

        168,825   
    

 

 

  

Net Assets — 100.0%

      $ 29,068,131   
    

 

 

  
 

 

See Notes to Financial Statements.

 

81

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix North Carolina Tax-Exempt Bond Fund — concluded

 

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2016.

 

(b) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

AGM   —   Security guaranteed by Assured Guaranty Municipal Corporation
AMT   —   Income subject to Alternative Minimum Tax
COP   —   Certificate of Participation
GO   —   General Obligation
RB   —   Revenue Bond
 

 

See Notes to Financial Statements.

 

82

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Short-Term Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 9.0%     

Automobiles 0.7%

     

AmeriCredit Automobile Receivables Trust 2014-2, Series 2014-2, Cl B, 1.600%, 07/08/19

     110,000         109,796   

California Republic Auto Receivables Trust, Series 2014-1, Cl A3, 0.850%, 05/15/18

     77,822         77,759   

Nissan Auto Lease Trust, Series 2015-A, Cl A2A, 0.990%, 11/15/17

     200,472         200,446   
    

 

 

  
       388,001   
    

 

 

  

Credit Card 5.2%

     

BA Credit Card Trust, Series 2015-A2, Cl A, 1.360%, 09/15/20

     490,000         491,666   

Cabela’s Master Credit Card Trust, Series 2014-1, Cl A, 0.786%, 03/16/20(a)

     627,000         626,178   

Capital One Multi-Asset Execution Trust, Series 2014-A5, Cl A, 1.480%, 07/15/20

     325,000         326,742   

Capital One Multi-Asset Execution Trust, Series 2015-A1, Cl A, 1.390%, 01/15/21

     312,000         313,006   

Chase Issuance Trust, Series 2014-A7, Cl A, 1.380%, 11/15/19

     500,000         501,629   

Discover Card Execution Note Trust, Series 2013-A1, Cl A1, 0.736%, 08/17/20(a)

     272,000         271,932   

Discover Card Execution Note Trust, Series 2016-A1, Cl A1, 1.640%, 07/15/21

     275,000         277,065   
    

 

 

  
       2,808,218   
    

 

 

  

Other 2.3%

     

AEP Texas Central Transition Funding III LLC, Series 2012-1, Cl A1, 0.880%, 12/01/18

     239,182         238,885   

Centerpoint Energy Transition Bond Co. II LLC, Series 2005-A, Cl A4, 5.170%, 08/01/19

     60,816         62,508   

CenterPoint Energy Transition Bond Co. IV LLC, Series 2012-1, Cl A1, 0.901%, 04/15/18

     161,263         161,134   

FirstEnergy Ohio PIRB Special Purpose Trust, Series 2013-1, Cl A2, 1.726%, 01/15/22

     440,000         442,868   
     Shares or
Principal
Amount($)		      Value($)  

Other—continued

     

Ohio Phase-In-Recovery Funding LLC, Series 2013-1, Cl A1, 0.958%, 07/01/18

     309,141         308,433   

Oncor Electric Delivery Transition Bond Co. LLC, Series 2004-1, Cl A3, 5.290%, 05/15/18

     14,479         14,553   
    

 

 

  
       1,228,381   
    

 

 

  

Student Loan Asset Backed Security 0.8%

  

SLM Student Loan Trust, Series 2013-1, Cl A2, 0.683%, 09/25/19(a)

     412,986         407,901   
    

 

 

  

Total Asset-Backed Securities (Cost $4,826,206)

        4,832,501   
    

 

 

  
Collateralized Mortgage Obligations 9.3%   

Commercial Mortgage Backed Securities 9.3%

  

Citigroup Commercial Mortgage Trust

     

Series 2012-GC8, Cl A1, 0.685%, 09/10/45

     26,971         26,915   
    

 

 

  

Commercial Mortgage Trust

     

Series 2012-9W57, Cl A, 2.365%, 02/10/29(b)

     500,000         503,120   

Series 2013-CR9, Cl A1, 1.344%, 07/10/45

     51,619         51,608   
    

 

 

  
       554,728   
    

 

 

  

Credit Suisse Commercial Mortgage Trust

     

Series 2006-C5, Cl A3, 5.311%, 12/15/39

     483,402         486,439   
    

 

 

  

GS Mortgage Securities Trust

     

Series 2012-GCJ7, Cl A2, 2.318%, 05/10/45

     385,000         387,440   

Series 2013-GC14, Cl A1, 1.217%, 08/10/46

     46,102         45,971   
    

 

 

  
       433,411   
    

 

 

  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2010-C2, Cl A2, 3.616%, 11/15/43(b)

     780,000         798,123   

Series 2011-C3, Cl A3, 4.388%, 02/15/46(b)

     325,000         339,200   

Series 2013-C13, Cl A1, 1.303%, 01/15/46

     232,876         232,438   
    

 

 

  
       1,369,761   
    

 

 

  

Morgan Stanley Bank of America Merrill Lynch Trust

     

Series 2013-C12, Cl A1, 1.313%, 10/15/46

     379,861         377,953   
 

 

See Notes to Financial Statements.

 

83

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Short-Term Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

  

Series 2014-C14, Cl A1, 1.250%, 02/15/47

     117,748         117,042   
    

 

 

  
       494,995   
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2012-C4, Cl A3, 2.991%, 03/15/45

     196,000         202,262   
    

 

 

  

WFRBS Commercial Mortgage Trust

     

Series 2012-C10, Cl A2, 1.765%, 12/15/45

     600,000         601,126   

Series 2012-C8, Cl A2, 1.881%, 08/15/45

     785,731         788,286   
    

 

 

  
       1,389,412   
    

 

 

  

Total Collateralized Mortgage Obligations (Cost $4,963,744)

        4,957,923   
    

 

 

  

Corporate Bonds 34.8%

     

Aerospace/Defense 2.2%

     

Boeing Co. (The), 0.743%, 10/30/17(a)

     530,000         529,683   

L-3 Communications Corp., 1.500%, 05/28/17

     379,000         377,701   

Lockheed Martin Corp., 1.850%, 11/23/18

     265,000         268,026   
    

 

 

  
       1,175,410   
    

 

 

  

Auto Manufacturers 0.8%

     

PACCAR Financial Corp., 1.236%, 12/06/18, MTN(a)

     200,000         200,429   

PACCAR Financial Corp., 1.450%, 03/09/18, MTN

     239,000         239,551   
    

 

 

  
       439,980   
    

 

 

  

Banks 8.4%

     

Citigroup, Inc., 1.350%, 03/10/17

     541,000         541,222   

Credit Suisse New York, 1.375%, 05/26/17, MTN

     845,000         842,602   

Goldman Sachs Group, Inc. (The), 5.950%, 01/18/18

     783,000         839,682   

ING Bank NV, 1.800%, 03/16/18(b)

     414,000         415,206   

JPMorgan Chase & Co., 6.125%, 06/27/17

     558,000         587,300   

Lloyds Bank PLC, 1.750%, 05/14/18

     543,000         541,749   

Wells Fargo & Co., 1.250%, 07/20/16, MTN

     740,000         741,312   
    

 

 

  
       4,509,073   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Beverages 1.2%

     

Anheuser-Busch InBev Finance, Inc., 1.900%, 02/01/19

     642,000         651,168   
    

 

 

  

Biotechnology 0.6%

     

Celgene Corp.,
2.125%, 08/15/18

     309,000         312,499   
    

 

 

  

Chemicals 1.1%

     

Chevron Phillips Chemical Co. LLC, 1.700%, 05/01/18(b)

     602,000         597,710   
    

 

 

  

Commercial Services 1.2%

     

ERAC USA Finance LLC, 1.400%, 04/15/16(b)

     632,000         632,105   
    

 

 

  

Computers 1.0%

     

Apple, Inc.,
1.050%, 05/05/17

     266,000         267,009   

Hewlett Packard Enterprise Co., 2.850%, 10/05/18(b)

     257,000         261,315   
    

 

 

  
       528,324   
    

 

 

  

Diversified Financial Services 2.2%

  

   

Air Lease Corp., 2.625%, 09/04/18

     266,000         264,321   

American Express Credit Corp., 1.300%, 07/29/16

     916,000         917,500   
    

 

 

  
       1,181,821   
    

 

 

  

Electric 0.3%

     

Duke Energy Corp., 1.009%, 04/03/17(a)

     141,000         140,055   
    

 

 

  

Healthcare-Products 1.4%

     

Becton Dickinson and Co., 1.800%, 12/15/17

     265,000         266,114   

Medtronic, Inc., 1.500%, 03/15/18

     498,000         502,287   
    

 

 

  
       768,401   
    

 

 

  

Healthcare-Services 0.6%

     

UnitedHealth Group, Inc., 1.875%, 11/15/16

     349,000         351,438   
    

 

 

  

Housewares 0.8%

     

Newell Rubbermaid, Inc., 2.600%, 03/29/19

     424,000         430,166   
    

 

 

  

Insurance 3.1%

     

Berkshire Hathaway Finance Corp., 1.700%, 03/15/19

     266,000         269,691   

Berkshire Hathaway, Inc., 1.900%, 01/31/17

     596,000         601,314   

MetLife, Inc., 6.750%, 06/01/16

     800,000         807,672   
    

 

 

  
       1,678,677   
    

 

 

  

Internet 0.4%

     

eBay, Inc., 2.500%, 03/09/18

     222,000         225,601   
    

 

 

  
 

 

See Notes to Financial Statements.

 

84

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Short-Term Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Machinery-Diversified 1.0%

     

John Deere Capital Corp., 1.350%, 01/16/18, MTN

     528,000         529,206   
    

 

 

  

Oil & Gas 2.1%

     

Chevron Corp., 1.365%, 03/02/18

     552,000         553,966   

Exxon Mobil Corp., 1.305%, 03/06/18

     553,000         555,483   
    

 

 

  
       1,109,449   
    

 

 

  

Oil & Gas Services 0.9%

     

Schlumberger Holdings Corp., 1.900%, 12/21/17(b)

     461,000         459,905   
    

 

 

  

Pharmaceuticals 0.6%

     

AbbVie, Inc., 1.800%, 05/14/18

     318,000         320,136   
    

 

 

  

Pipelines 0.8%

     

Kinder Morgan, Inc., 2.000%, 12/01/17

     269,000         266,118   

Spectra Energy Partners LP, 2.950%, 09/25/18

     158,000         158,620   
    

 

 

  
       424,738   
    

 

 

  

Real Estate Investment Trust 0.4%

  

   

American Tower Corp., 4.500%, 01/15/18

     225,000         234,450   
    

 

 

  

Retail 0.6%

     

CVS Health Corp., 1.900%, 07/20/18

     306,000         310,465   
    

 

 

  

Semiconductors 0.4%

     

TSMC Global Ltd., 1.625%, 04/03/18(b)

     200,000         198,860   
    

 

 

  

Software 0.5%

     

Fidelity National Information Services, Inc., 2.850%, 10/15/18

     276,000         280,499   
    

 

 

  

Telecommunication Services 1.2%

  

   

AT&T, Inc.,
5.500%, 02/01/18

     488,000         522,831   

Verizon Communications, Inc., 2.500%, 09/15/16

     97,000         97,747   
    

 

 

  
       620,578   
    

 

 

  

Transportation 1.0%

     

Canadian National Railway Co., 0.787%, 11/14/17(a)

     554,000         552,615   
    

 

 

  

Total Corporate Bonds
(Cost $18,605,938)

        18,663,329   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Municipal Bonds 2.0%

  

Louisiana 1.0%

     

Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2010-ELL, CI A3, RB, 3.450%, 02/01/22

     515,000         533,319   
    

 

 

  

New Jersey 1.0%

     

New Jersey Economic Development Authority, Series Q, RB, 1.096%, 06/15/16

     530,000         530,037   
    

 

 

  

Total Municipal Bonds
(Cost $1,068,313)

        1,063,356   
    

 

 

  

U.S. Government Agency Mortgages 12.0%

  

Federal Home Loan Mortgage Corporation

     

Pool #J06026, 5.500%, 11/01/20

     96,008         98,798   

Pool #G14525, 2.500%, 08/01/22

     205,201         211,583   

Pool #J22421, 2.000%, 02/01/23

     141,867         144,690   

Pool #J23435, 2.500%, 04/01/23

     544,056         560,995   

Pool #J24206, 2.000%, 06/01/23

     160,274         163,461   

Pool #J28472, 3.000%, 06/01/24

     1,204,359         1,261,752   
    

 

 

  
     2,441,279   
    

 

 

  

Federal National Mortgage Association

     

Pool #958815, 4.506%, 06/01/19

     361,000         376,117   

Pool #AB4704, 2.500%, 03/01/22

     282,029         290,269   

Pool #AP9597, 2.500%, 10/01/22(c)

     622,734         641,006   

Pool #AL3486, 2.000%, 05/01/23

     130,711         133,292   

Pool #AL5640, 2.271%, 08/01/44(a)

     276,085         284,890   

Pool #AX3644, 2.397%, 10/01/44(a)

     331,134         340,981   

Pool #AX2167, 2.501%, 11/01/44(a)

     1,326,953         1,362,385   

Pool #AX5937, 2.581%, 11/01/44(a)

     531,239         547,242   
    

 

 

  
     3,976,182   
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $6,334,763)

        6,417,461   
    

 

 

  
 

 

See Notes to Financial Statements.

 

85

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Short-Term Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Treasury Obligations 32.2%

  

   

U.S. Treasury Notes 32.2%

     

1.250%, 10/31/18(d)

     10,062,000         10,171,263   

1.500%, 01/31/19

     6,957,000         7,082,824   
    

 

 

  

Total U.S. Treasury Obligations
(Cost $17,152,803)

        17,254,087   
    

 

 

  

Money Market Fund 1.6%

     

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(e)

     876,056         876,056   
    

 

 

  

Total Money Market Fund (Cost $876,056)

        876,056   
    

 

 

  

Total Investments
(Cost $53,827,823) — 100.9%

        54,064,713   
    

 

 

  

Liabilities in Excess of Other Assets — (0.9)%

        (470,595 ) 
    

 

 

  

Net Assets — 100.0%

      $ 53,594,118   
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 7.8% of net assets as of March 31, 2016.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(e) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

MTN — Medium Term Note

PIRB — Phase-in-Recovery Bonds

RB — Revenue Bond

 

 

See Notes to Financial Statements.

 

86

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Short-Term Municipal Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 93.3%     
Alabama 3.6%     

Baldwin County Board of Education, RB, 5.000%, 06/01/19

     1,250,000         1,406,988   
    

 

 

  

Arizona 5.1%

     

Arizona Department of Transportation State Highway Fund Revenue, RB, 5.000%, 07/01/25, Pre-refunded 07/01/2016 @ 100

     1,000,000         1,011,420   

Phoenix Civic Improvement Corp., Series B, RB, 5.000%, 07/01/16

     1,000,000         1,011,480   
    

 

 

  
       2,022,900   
    

 

 

  

California 8.2%

     

California Municipal Finance Authority, Series A, RB, 4.000%, 06/01/21

     200,000         220,334   

California State, GO, 5.000%, 08/01/17

     1,000,000         1,058,220   

Los Angeles County Regional Financing Authority, Series B-1, RB, 3.000%, 11/15/21, CA MTG INS

     1,500,000         1,503,375   

Santa Clara Valley Water District, Series C, RB, 5.000%, 06/01/21

     400,000         476,620   
    

 

 

  
       3,258,549   
    

 

 

  

District of Columbia 2.9%

     

District of Columbia Water & Sewer Authority, Series A, RB, 6.000%, 10/01/35, Pre-refunded 10/01/2018 @ 100

     1,000,000         1,128,850   
    

 

 

  

Illinois 4.2%

     

Chicago O’Hare International Airport, RB, 5.000%, 01/01/19

     1,500,000         1,658,445   
    

 

 

  

Indiana 5.5%

     

Indiana Finance Authority, Series B, RB, 5.000%, 02/01/21(a)

     1,000,000         1,179,780   

Indiana University, Series R, RB, 5.000%, 08/01/16, AMBAC

     1,000,000         1,015,240   
    

 

 

  
       2,195,020   
    

 

 

  

Maryland 9.3%

     

Maryland State, GO, 5.000%, 08/01/18, Pre-refunded 08/01/2016 @ 100

     1,000,000         1,015,000   
     Shares or
Principal
Amount($)		      Value($)  

Maryland—continued

     

Maryland State, Series A, GO, 5.000%, 11/01/16

     1,000,000         1,026,550   

Maryland State Transportation Authority, Transportation Facilities Project, RB, 5.000%, 07/01/23(b)

     500,000         544,440   

Montgomery County, Series A, GO, 5.000%, 07/01/17

     1,040,000         1,096,888   
    

 

 

  
       3,682,878   
    

 

 

  

Massachusetts 2.7%

     

Commonwealth of Massachusetts,
Series C, GO, 5.000%, 08/01/27, Pre-refunded 08/01/2017 @ 100, AGM

     1,000,000         1,056,770   
    

 

 

  

Missouri 3.3%

     

Missouri State Board of Public Buildings, Series B, RB, 4.000%, 04/01/18

     1,235,000         1,315,164   
    

 

 

  

Nevada 2.7%

     

Clark County Department of Aviation,
Series B, AMT, RB, 5.000%, 07/01/17

     1,000,000         1,050,060   
    

 

 

  

North Carolina 2.8%

     

Raleigh Combined Enterprise System Revenue, Series B, RB, 5.000%, 12/01/18

     1,000,000         1,110,910   
    

 

 

  

Ohio 5.1%

     

Crawford County, RB, 1.430%, 11/01/17

     2,000,000         1,999,560   
    

 

 

  

Rhode Island 8.0%

     

Rhode Island Health & Educational Building Corp., RB, 4.000%, 05/15/20, AGM, ST APPROP

     750,000         823,222   

State of Rhode Island, GO, 5.000%, 08/01/18(b)

     2,150,000         2,352,874   
    

 

 

  
       3,176,096   
    

 

 

  

South Carolina 1.9%

     

SCAGO Educational Facilities Corp. for Pickens School District, RB, 5.000%, 12/01/16

     750,000         771,825   
    

 

 

  

Texas 17.6%

     

Metropolitan Transit Authority of Harris County, Series A, RB, 5.000%, 08/15/18

     1,255,000         1,377,212   
 

 

See Notes to Financial Statements.

 

87

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Short-Term Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Texas—continued

     

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB, 4.000%, 04/01/17, AGM

     200,000         205,824   

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB, 4.000%, 04/01/18, AGM

     200,000         210,566   

Nueces River Authority, RB, 3.000%, 07/15/17

     1,000,000         1,028,220   

Plano, GO, 5.000%, 09/01/18

     1,000,000         1,099,470   

Texas Public Finance Authority, Series B, RB, 4.000%, 01/01/18(b)

     3,000,000         3,027,390   
    

 

 

  
       6,948,682   
    

 

 

  

Virginia 4.7%

     

Chesterfield County, GO, 4.000%, 01/01/17, State Aid Withholding

     1,795,000         1,841,688   
    

 

 

  

Washington 5.7%

     

Port of Seattle, AMT, GO, 5.250%, 12/01/20

     1,030,000         1,216,430   

Snohomish County Public Utility District No. 1, RB, 5.000%, 12/01/16

     1,000,000         1,030,290   
    

 

 

  
       2,246,720   
    

 

 

  

Total Municipal Bonds
(Cost $36,692,175)

        36,871,105   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Fund 8.8%

     

Federated Tax-Free Obligations Fund, Institutional Shares, 0.14%(c)

     3,491,966         3,491,966   
    

 

 

  

Total Money Market Fund (Cost $3,491,966)

        3,491,966   
    

 

 

  

Total Investments
(Cost $40,184,141) — 102.1%

        40,363,071   

Liabilities in Excess of Other Assets — (2.1)%

        (824,338 ) 
    

 

 

  

Net Assets — 100.0%

      $ 39,538,733   
    

 

 

  

 

(a) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(b) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

AGM   —   Security guaranteed by Assured Guaranty Municipal Corporation
AMBAC   —   Security guaranteed by American Municipal Bond Assurance Corporation
AMT   —   Income subject to Alternative Minimum Tax
CA MTG INS   —   California Mortgage Insurance
GO   —   General Obligation
RB   —   Revenue Bond
ST APPROP   —   State Appropriation
 

 

See Notes to Financial Statements.

 

88

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  

Asset-Backed Securities 2.7%

  

   

Automobiles 0.3%

     

Ford Credit Auto Owner Trust, Series 2016-1, Cl A, 2.310%, 08/15/27(a)

     3,525,000         3,526,697   
    

 

 

  

Credit Card 1.2%

     

Barclays Dryrock Issuance Trust, Series 2014-3, Cl A, 2.410%, 07/15/22

     8,995,000         9,211,259   

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A, 0.886%, 07/15/22(b)

     4,063,000         3,996,808   
    

 

 

  
       13,208,067   
    

 

 

  

Other 1.2%

     

DB Master Finance LLC, Series 2015-1A, Cl A2II, 3.980%, 02/20/45(a)

     6,108,300         5,973,917   

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(a)

     4,828,738         4,941,502   

Ohio Phase-In-Recovery Funding LLC, Series 2013-1, Cl A2, 2.049%, 07/01/20

     2,895,000         2,936,467   
    

 

 

  
       13,851,886   
    

 

 

  

Total Asset-Backed Securities
(Cost $30,491,724)

        30,586,650   
    

 

 

  

Collateralized Mortgage Obligations 4.0%

  

Commercial Mortgage Backed Securities 4.0%

  

Extended Stay America Trust

     

Series 2013-ESH5, Cl B5, 2.278%, 12/05/31(a)

     254,282         253,779   
    

 

 

  

Federal Home Loan Mortgage Corporation

     

Series KP02, Cl A2, 2.355%, 04/25/21(b)

     6,205,000         6,356,915   
    

 

 

  

FREMF Mortgage Trust

     

Series 2016-K52, Cl B, 3.921%, 01/25/49(a)(b)

     3,170,000         2,778,100   
    

 

 

  

GS Mortgage Securities Corp. II

     

Series 2012-ALOH, Cl A, 3.551%, 04/10/34(a)

     8,728,000         9,290,789   

Series 2012-BWTR, Cl A, 2.954%, 11/05/34(a)

     3,111,000         3,167,366   

Series 2012-BWTR, Cl B, 3.255%, 11/05/34(a)

     2,890,000         2,872,668   
    

 

 

  
     15,330,823   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

  

GS Mortgage Securities Trust

     

Series 2010-C1, Cl A2, 4.592%, 08/10/43(a)

     3,822,000         4,176,490   
    

 

 

  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2012-HSBC, Cl B, 3.722%, 07/05/32(a)

     1,790,000         1,828,100   
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2014-CPT, Cl A, 3.350%, 07/13/29(a)

     4,815,000         5,057,160   
    

 

 

  

OBP Depositor LLC Trust

     

Series 2010-OBP, Cl A, 4.646%, 07/15/45(a)

     2,126,000         2,352,876   
    

 

 

  

VNDO 2013-PENN Mortgage Trust

     

Series 2013-PENN, Cl A, 3.808%, 12/13/29(a)

     3,315,000         3,497,418   
    

 

 

  

Wells Fargo Commercial Mortgage Trust

     

Series 2013-BTC, Cl A, 3.544%, 04/16/35(a)

     2,900,000         3,067,206   
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $44,017,534)

        44,698,867   
    

 

 

  

Bank Loan 0.0%(c)

     

Information Technology 0.0%(c)

  

Semiconductor Components Industries LLC, Term Loan A, 2.362%, 01/02/18(b)(d)

     240,625         234,610   
    

 

 

  

Total Bank Loan
(Cost $237,073)

        234,610   
    

 

 

  

Corporate Bonds 26.7%

     

Aerospace/Defense 0.3%

     

L-3 Communications Corp., 3.950%, 05/28/24

     1,092,000         1,050,969   

Lockheed Martin Corp., 4.700%, 05/15/46

     1,863,000         2,083,078   
    

 

 

  
       3,134,047   
    

 

 

  

Agriculture 0.2%

     

Japan Tobacco, Inc., 2.100%, 07/23/18(a)

     2,346,000         2,368,172   
    

 

 

  

Airlines 1.2%

     

American Airlines Pass Through Trust, Series 2013-2, 4.950%, 01/15/23

     2,702,785         2,891,764   
 

 

See Notes to Financial Statements.

 

89

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Airlines—continued

     

American Airlines Pass Through Trust, Series 2015-2, 3.600%, 09/22/27

     1,887,000         1,943,610   

American Airlines Pass Through Trust, Series 2016-1, Cl A, 4.100%, 01/15/28, Series A

     2,366,000         2,448,573   

Delta Air Lines Pass Through Trust, Series 2015-1, 3.625%, 07/30/27, Series 15-1

     867,471         857,712   

Southwest Airlines Co., 2.650%, 11/05/20

     1,717,000         1,750,676   

Spirit Airlines Pass Through Trust, Series 2015-1, 4.100%, 04/01/28, Series A

     1,820,000         1,829,100   

United Airlines Pass Through Trust, Series 2014-1, Cl A, 4.000%, 04/11/26, Series A

     1,362,272         1,406,546   
    

 

 

  
       13,127,981   
    

 

 

  

Auto Manufacturers 1.2%

     

Daimler Finance North America LLC, 2.250%, 03/02/20(a)

     1,622,000         1,632,024   

Ford Motor Credit Co. LLC, 3.336%, 03/18/21

     4,908,000         5,050,548   

General Motors Co., 5.200%, 04/01/45

     5,520,000         5,189,197   

Volkswagen International Finance, 2.375%, 03/22/17(a)

     1,539,000         1,545,587   
    

 

 

  
       13,417,356   
    

 

 

  

Auto Parts & Equipment 0.7%

  

Delphi Automotive PLC, 4.250%, 01/15/26

     2,014,000         2,102,251   

Lear Corp., 4.750%, 01/15/23

     1,338,000         1,374,795   

Magna International, Inc., 4.150%, 10/01/25

     4,038,000         4,278,459   
    

 

 

  
       7,755,505   
    

 

 

  

Banks 4.9%

     

Bank of America Corp., 4.450%, 03/03/26

     2,000,000         2,060,378   

Bank of America Corp., 6.300%(b)(e)

     2,380,000         2,451,400   
     Shares or
Principal
Amount($)		      Value($)  

Banks—continued

     

BPCE SA, 2.650%, 02/03/21

     3,090,000         3,118,002   

Cooperatieve Rabobank UA, 2.500%, 01/19/21, MTN

     2,039,000         2,058,073   

Credit Suisse Group Funding Guernsey Ltd., 3.800%, 09/15/22

     3,366,000         3,350,096   

Fifth Third Bank, 3.850%, 03/15/26

     4,032,000         4,130,373   

Goldman Sachs Group, Inc. (The), 5.150%, 05/22/45

     2,940,000         2,986,696   

Huntington National Bank (The), 1.300%, 11/20/16

     1,869,000         1,869,078   

ING Bank NV, 1.800%, 03/16/18(a)

     1,452,000         1,456,230   

JPMorgan Chase & Co., 2.250%, 01/23/20

     3,742,000         3,771,599   

KeyCorp, 2.900%, 09/15/20, MTN

     2,118,000         2,152,712   

Lloyds Bank PLC, 2.050%, 01/22/19

     2,240,000         2,240,461   

Morgan Stanley, 2.650%, 01/27/20

     2,379,000         2,414,174   

Morgan Stanley, 3.950%, 04/23/27

     1,498,000         1,499,583   

Morgan Stanley, 4.300%, 01/27/45

     6,246,000         6,284,981   

Regions Bank, 2.250%, 09/14/18

     1,095,000         1,093,120   

US Bancorp, 2.350%, 01/29/21, MTN

     1,639,000         1,664,006   

US Bancorp, 3.600%, 09/11/24, MTN

     3,148,000         3,317,356   

US Bank NA, 1.100%, 01/30/17

     2,968,000         2,974,595   

Wells Fargo & Co., 4.300%, 07/22/27, MTN

     3,709,000         3,935,412   
    

 

 

  
       54,828,325   
    

 

 

  

Beverages 0.7%

     

Anheuser-Busch InBev Finance, Inc., 2.650%, 02/01/21

     1,488,000         1,529,049   

Anheuser-Busch InBev Finance, Inc., 3.650%, 02/01/26

     921,000         968,536   

Anheuser-Busch InBev Finance, Inc., 4.900%, 02/01/46

     2,747,000         3,069,943   

SABMiller Holdings, Inc., 2.450%, 01/15/17(a)

     2,020,000         2,038,523   
    

 

 

  
       7,606,051   
    

 

 

  
 

 

See Notes to Financial Statements.

 

90

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Biotechnology 0.4%

     

Biogen, Inc., 5.200%, 09/15/45

     1,850,000         2,052,007   

Celgene Corp., 4.625%, 05/15/44

     1,038,000         1,057,548   

Celgene Corp., 5.000%, 08/15/45

     1,217,000         1,315,983   
    

 

 

  
       4,425,538   
    

 

 

  

Commercial Services 0.4%

     

ERAC USA Finance LLC, 2.750%, 03/15/17(a)

     935,000         946,118   

ERAC USA Finance LLC, 3.850%, 11/15/24(a)

     1,167,000         1,219,989   

ERAC USA Finance LLC, 4.500%, 02/15/45(a)

     1,078,000         1,061,899   

ERAC USA Finance LLC, 5.250%, 10/01/20(a)

     1,149,000         1,267,448   
    

 

 

  
       4,495,454   
    

 

 

  

Computers 0.3%

     

Apple, Inc., 3.200%, 05/13/25

     3,568,000         3,738,062   
    

 

 

  

Diversified Financial Services 1.2%

  

Air Lease Corp., 2.625%, 09/04/18

     5,155,000         5,122,456   

American Express Credit Corp., 2.375%, 03/24/17, MTN

     1,487,000         1,504,443   

Lazard Group LLC, 3.750%, 02/13/25

     5,127,000         4,732,303   

TD Ameritrade Holding Corp., 2.950%, 04/01/22

     1,836,000         1,873,952   
    

 

 

  
       13,233,154   
    

 

 

  

Electric 0.7%

     

Berkshire Hathaway Energy Co., 6.125%, 04/01/36

     1,331,000         1,647,814   

Dominion Resources, Inc., 1.950%, 08/15/16

     468,000         469,479   

Exelon Generation Co. LLC, 6.200%, 10/01/17

     1,189,000         1,264,255   

FirstEnergy Transmission LLC, 5.450%, 07/15/44(a)

     4,376,000         4,561,013   
    

 

 

  
       7,942,561   
    

 

 

  

Healthcare-Products 0.4%

     

Becton Dickinson and Co., 4.685%, 12/15/44

     964,000         1,041,275   

Medtronic, Inc., 3.500%, 03/15/25

     730,000         779,159   

Medtronic, Inc., 4.625%, 03/15/45

     2,024,000         2,265,297   
    

 

 

  
       4,085,731   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Healthcare-Services 0.2%

     

Howard Hughes Medical Institute, 3.500%, 09/01/23

     1,842,000         1,970,736   
    

 

 

  

Housewares 0.3%

     

Newell Rubbermaid, Inc., 5.500%, 04/01/46

     2,561,000         2,782,260   
    

 

 

  

Insurance 0.5%

     

Chubb INA Holdings, Inc., 4.350%, 11/03/45

     1,114,000         1,214,049   

MassMutual Global Funding LLC, 2.000%, 04/05/17(a)

     1,291,000         1,303,785   

Nationwide Financial Services, Inc., 5.375%, 03/25/21(a)

     2,212,000         2,425,153   

Reinsurance Group of America, Inc., 4.700%, 09/15/23, MTN

     1,080,000         1,126,113   
    

 

 

  
       6,069,100   
    

 

 

  

Media 0.5%

     

Comcast Corp., 4.650%, 07/15/42

     5,267,000         5,858,805   
    

 

 

  

Mining 1.5%

     

Barrick(PD) Australia Finance Property Ltd., 5.950%, 10/15/39

     4,512,000         4,058,539   

Barrick International Barbados Corp., 6.350%, 10/15/36(a)

     1,083,000         983,334   

BHP Billiton Finance USA Ltd., 5.000%, 09/30/43

     2,676,000         2,722,311   

Newmont Mining Corp., 6.250%, 10/01/39

     7,239,000         7,234,280   

Rio Tinto Finance USA Ltd., 3.750%, 06/15/25

     1,852,000         1,804,913   
    

 

 

  
       16,803,377   
    

 

 

  

Miscellaneous Manufacturer 0.7%

  

3M Co., 1.375%, 09/29/16

     971,000         974,428   

General Electric Co., 2.700%, 10/09/22

     1,444,000         1,501,806   

General Electric Co., 3.450%, 05/15/24, MTN

     2,615,000         2,818,301   

General Electric Co., 4.125%, 10/09/42

     1,142,000         1,204,353   

General Electric Co., 5.250%, 12/06/17

     1,036,000         1,110,203   
    

 

 

  
       7,609,091   
    

 

 

  
 

 

See Notes to Financial Statements.

 

91

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas 3.7%

     

Apache Corp., 3.250%, 04/15/22

     2,775,000         2,669,952   

BP Capital Markets PLC, 2.248%, 11/01/16

     2,052,000         2,067,817   

ConocoPhillips Co., 5.950%, 03/15/46

     2,873,000         3,090,664   

Devon Energy Corp., 5.850%, 12/15/25(f)

     2,771,000         2,674,675   

Ensco PLC, 4.500%, 10/01/24(f)

     1,419,000         787,545   

Ensco PLC, 5.200%, 03/15/25(f)

     5,836,000         3,268,160   

Ensco PLC, 5.750%, 10/01/44

     2,369,000         1,172,655   

EOG Resources, Inc., 4.150%, 01/15/26

     3,987,000         4,145,898   

Exxon Mobil Corp., 1.912%, 03/06/20

     2,976,000         3,009,403   

Exxon Mobil Corp., 3.043%, 03/01/26

     5,005,000         5,122,422   

Marathon Oil Corp., 3.850%, 06/01/25(f)

     2,774,000         2,254,158   

Marathon Petroleum Corp., 3.625%, 09/15/24

     442,000         404,175   

Marathon Petroleum Corp., 5.000%, 09/15/54

     3,017,000         2,361,400   

Shell International Finance BV, 3.250%, 05/11/25

     3,302,000         3,333,158   

Woodside Finance Ltd., 3.650%, 03/05/25(a)

     1,995,000         1,853,263   

Woodside Finance Ltd., 4.600%, 05/10/21(a)

     2,643,000         2,738,679   
    

 

 

  
       40,954,024   
    

 

 

  

Oil & Gas Services 0.8%

     

FMC Technologies, Inc., 3.450%, 10/01/22

     656,000         582,946   

Schlumberger Holdings Corp., 3.000%, 12/21/20(a)

     2,187,000         2,217,257   

Schlumberger Holdings Corp., 4.000%, 12/21/25(a)

     4,297,000         4,436,352   

Schlumberger Investment SA, 3.300%, 09/14/21(a)

     1,659,000         1,708,755   
    

 

 

  
       8,945,310   
    

 

 

  

Pharmaceuticals 0.5%

     

AbbVie, Inc., 3.600%, 05/14/25

     2,751,000         2,887,771   

Express Scripts Holding Co., 2.650%, 02/15/17

     1,560,000         1,580,374   
     Shares or
Principal
Amount($)		      Value($)  

Pharmaceuticals—continued

  

   

Novartis Securities Investment Ltd., 5.125%, 02/10/19

     969,000         1,072,688   
    

 

 

  
       5,540,833   
    

 

 

  

Pipelines 0.3%

     

NuStar Logistics LP, 4.800%, 09/01/20

     2,870,000         2,525,600   

Phillips 66 Partners LP, 3.605%, 02/15/25

     468,000         425,274   

Phillips 66 Partners LP, 4.680%, 02/15/45

     595,000         494,149   
    

 

 

  
       3,445,023   
    

 

 

  

Real Estate Investment Trust 1.3%

  

American Tower Corp., 3.500%, 01/31/23

     1,779,000         1,795,865   

American Tower Corp., 5.000%, 02/15/24

     3,313,000         3,635,593   

Boston Properties LP, 3.650%, 02/01/26

     1,857,000         1,926,924   

Digital Realty Trust LP, 3.950%, 07/01/22

     3,127,000         3,183,974   

Digital Realty Trust LP, 4.750%, 10/01/25

     1,965,000         2,000,578   

Simon Property Group LP, 3.300%, 01/15/26

     1,321,000         1,370,923   
    

 

 

  
       13,913,857   
    

 

 

  

Retail 0.9%

     

CVS Health Corp., 5.125%, 07/20/45

     1,738,000         2,012,816   

Home Depot, Inc. (The), 2.625%, 06/01/22

     2,008,000         2,077,143   

Kohl’s Corp., 5.550%, 07/17/45

     1,201,000         1,086,946   

Wal-Mart Stores, Inc., 1.125%, 04/11/18

     5,246,000         5,285,429   
    

 

 

  
       10,462,334   
    

 

 

  

Semiconductors 1.0%

     

Analog Devices, Inc., 5.300%, 12/15/45

     3,949,000         4,431,667   

Intel Corp., 1.950%, 10/01/16

     1,031,000         1,038,156   

Intel Corp., 4.900%, 07/29/45

     1,677,000         1,880,871   

TSMC Global Ltd.,
1.625%, 04/03/18(a)

     3,589,000         3,568,543   
    

 

 

  
       10,919,237   
    

 

 

  

Software 0.5%

     

Fidelity National Information Services, Inc., 4.500%, 10/15/22

     2,243,000         2,391,949   
 

 

See Notes to Financial Statements.

 

92

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Software—continued

     

Oracle Corp., 1.200%, 10/15/17

     1,341,000         1,348,829   

Oracle Corp., 2.375%, 01/15/19

     1,638,000         1,698,008   
    

 

 

  
       5,438,786   
    

 

 

  

Telecommunication Services 1.4%

  

   

AT&T, Inc., 2.375%, 11/27/18

     2,349,000         2,399,586   

AT&T, Inc., 3.950%, 01/15/25

     750,000         779,499   

AT&T, Inc., 4.350%, 06/15/45

     886,000         811,661   

AT&T, Inc., 4.750%, 05/15/46

     2,192,000         2,138,202   

CC Holdings GS V LLC/Crown Castle GS III Corp., 3.849%, 04/15/23

     3,187,000         3,285,641   

Cisco Systems, Inc., 2.125%, 03/01/19

     2,111,000         2,171,909   

Crown Castle Towers LLC, 3.222%, 05/15/22(a)

     1,465,000         1,467,197   

Verizon Communications, Inc., 5.012%, 08/21/54

     2,406,000         2,413,769   
    

 

 

  
       15,467,464   
    

 

 

  

Total Corporate Bonds
(Cost $291,243,519)

        296,338,174   
    

 

 

  

U.S. Government Agency Mortgages 26.0%

  

Federal Home Loan Mortgage Corporation

     

Pool #G30614, 3.500%, 12/01/32

     4,724,107         5,010,902   

Pool #C91768, 3.500%, 07/01/34

     2,048,856         2,159,052   

Pool #G01779, 5.000%, 04/01/35

     336,351         373,072   

Pool #G01838, 5.000%, 07/01/35

     300,229         333,099   

Pool #G01837, 5.000%, 07/01/35

     2,259,283         2,504,721   

Pool #A47828, 3.500%, 08/01/35

     1,071,986         1,131,945   

Pool #G05326, 5.000%, 02/01/38

     1,390,107         1,539,891   

Pool #G07135, 6.000%, 10/01/38

     1,766,304         2,015,849   

Pool #G08347, 4.500%, 06/01/39

     2,795,022         3,041,040   

Pool #G08353, 4.500%, 07/01/39

     3,484,795         3,791,744   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #G06079, 6.000%, 07/01/39

     855,322         974,849   

Pool #A89384, 4.000%, 10/01/39

     198,146         211,870   

Pool #A89148, 4.000%, 10/01/39

     1,512,753         1,618,926   

Pool #G08372, 4.500%, 11/01/39

     2,031,798         2,211,714   

Pool #A93101, 5.000%, 07/01/40

     1,472,759         1,623,653   

Pool #G06061, 4.000%, 10/01/40

     2,991,193         3,212,126   

Pool #A95796, 4.000%, 12/01/40

     1,235,542         1,323,143   

Pool #A95822, 4.000%, 12/01/40

     2,986,249         3,221,467   

Pool #Q04085, 3.500%, 10/01/41

     158,750         167,098   

Pool #G60126, 4.500%, 11/01/41

     463,154         503,851   

Pool #G07491, 4.500%, 03/01/42

     56,924         62,096   

Pool #Q18522, 3.500%, 05/01/43(g)

     5,045,526         5,305,095   

Pool #849167, 2.947%, 10/01/43(b)

     4,249,175         4,402,393   

Pool #G60019, 4.500%, 03/01/44

     8,753,825         9,539,150   

Pool #Q29416, 4.000%, 11/01/44

     2,136,472         2,285,330   

Pool #Q31066, 4.000%, 02/01/45

     1,249,480         1,345,455   

Pool #Q31645, 4.000%, 02/01/45

     6,042,357         6,483,337   

Pool #Q35611, 4.000%, 09/01/45

     6,198,914         6,651,341   
    

 

 

  
       73,044,209   
    

 

 

  

Federal National Mortgage Association

  

Pool #AM6855, 3.150%, 11/01/24

     2,168,000         2,280,528   

Pool #AM6979, 3.310%, 11/01/24

     5,084,000         5,410,687   

Pool #AM7421, 3.030%, 12/01/24

     9,316,000         9,714,917   

Pool #AN0818, 3.050%, 01/01/26

     923,000         972,877   

Pool #AN0632, 3.210%, 01/01/26

     6,555,000         6,874,721   

Pool #AP9592, 3.500%, 10/01/32

     3,311,726         3,511,565   

Pool #MA1630, 4.000%, 10/01/33

     1,996,203         2,152,954   
 

 

See Notes to Financial Statements.

 

93

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #MA1688, 3.500%, 12/01/33

     135,431         143,192   

Pool #MA1763, 3.500%, 01/01/34

     6,187,275         6,541,436   

Pool #190370, 6.000%, 06/01/36

     1,717,935         1,962,865   

Pool #745950, 6.000%, 11/01/36

     1,736,669         1,983,050   

Pool #888128, 6.000%, 01/01/37

     274,378         313,392   

Pool #890248, 6.000%, 08/01/37

     399,045         462,263   

Pool #889529, 6.000%, 03/01/38

     142,247         163,776   

Pool #889579, 6.000%, 05/01/38

     677,669         772,809   

Pool #995724, 6.000%, 04/01/39

     1,266,868         1,460,788   

Pool #AE0814, 6.000%, 09/01/39

     271,940         310,487   

Pool #AC2817, 4.000%, 10/01/39

     495,405         529,278   

Pool #AX3605, 3.500%, 01/01/40

     2,806,207         2,948,651   

Pool #932441, 4.000%, 01/01/40

     6,737,387         7,198,050   

Pool #AC9564, 4.500%, 02/01/40

     805,328         884,032   

Pool #AL7497, 3.500%, 09/01/40

     23,939,194         25,149,575   

Pool #AD9725, 3.500%, 10/01/40

     1,260,398         1,324,177   

Pool #AE3860, 5.000%, 10/01/40

     528,582         586,806   

Pool #AE4414, 4.000%, 11/01/40

     3,142,569         3,367,660   

Pool #AE5143, 4.000%, 11/01/40

     414,432         444,116   

Pool #AE9284, 4.000%, 11/01/40

     696,004         744,563   

Pool #AH4161, 3.500%, 01/01/41

     1,082,975         1,137,865   

Pool #AB2071, 3.500%, 01/01/41

     569,769         598,645   

Pool #AL0215, 4.500%, 04/01/41

     4,525,670         4,940,456   

Pool #AB3274, 4.500%, 07/01/41

     1,912,873         2,094,529   

Pool #AB3865, 3.500%, 11/01/41

     1,199,415         1,265,995   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AW8154, 3.500%, 01/01/42

     12,651,697         13,317,150   

Pool #AT8263, 3.500%, 01/01/42

     1,663,366         1,753,615   

Pool #AB5188, 3.500%, 05/01/42

     6,686,049         7,026,289   

Pool #AP7874, 3.500%, 10/01/42

     2,004,676         2,106,701   

Pool #AB8726, 3.500%, 03/01/43

     7,304,720         7,675,835   

Pool #AL3657, 3.500%, 06/01/43

     4,098,114         4,331,368   

Pool #AU3742, 3.500%, 08/01/43

     1,020,760         1,074,795   

Pool #AL5939,
3.500%, 09/01/43(g)

     5,779,859         6,083,889   

Pool #AS2037, 4.500%, 03/01/44

     3,169,850         3,452,940   

Pool #AL6223, 4.500%, 08/01/44

     3,686,115         4,013,488   

Pool #AY2685, 4.500%, 01/01/45

     757,645         831,889   

Pool #AX8835,
2.801%, 02/01/45(b)

     3,650,173         3,760,969   

Pool #AZ7723, 4.500%, 10/01/45

     1,066,418         1,163,460   

Pool #BC2470, 3.500%, 02/01/46

     2,323,893         2,451,384   
    

 

 

  
     157,290,477   
    

 

 

  

Government National Mortgage Association

     

Pool #MA0321, 5.000%, 08/20/42

     550,028         613,159   

Pool #666413, 4.000%, 09/15/43

     1,534,805         1,657,542   

Pool #MA2681, 5.000%, 03/20/45

     2,302,528         2,507,097   

Pool #AM0226, 4.000%, 05/15/45

     1,252,359         1,341,481   

Pool #AM9875, 4.000%, 06/15/45

     1,724,665         1,852,428   

Pool #AN7421, 4.000%, 06/15/45

     1,509,335         1,618,426   

Pool #AM7092, 4.500%, 06/15/45

     2,427,618         2,645,304   

Pool #626960, 3.500%, 07/15/45

     4,622,852         4,912,763   

Pool #AN8476, 3.500%, 07/15/45

     3,212,887         3,397,299   

Pool #AM8631, 4.000%, 07/15/45

     2,527,614         2,708,125   
 

 

See Notes to Financial Statements.

 

94

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AN5745, 4.000%, 07/15/45

     3,506,534         3,766,847   

Pool #AN5781, 4.000%, 07/15/45

     1,901,712         2,039,796   

Pool #AN5764, 4.000%, 07/15/45

     1,431,751         1,538,265   

Pool #AN5766, 4.000%, 07/15/45

     1,577,360         1,692,229   

Pool #AN6811, 4.000%, 07/15/45

     1,142,478         1,223,910   

Pool #AO0509, 3.500%, 08/15/45

     3,658,284         3,872,540   

Pool #626970, 3.500%, 08/15/45

     2,232,292         2,372,356   

Pool #AO3608, 4.000%, 08/15/45

     7,116,554         7,634,953   

Pool #AM9046, 4.500%, 08/15/45

     1,536,448         1,675,740   

Pool #AP5075, 4.000%, 09/15/45

     1,068,467         1,161,818   

Pool #AP5076, 4.000%, 09/15/45

     1,136,417         1,235,785   

Pool #AP5077, 4.000%, 09/15/45

     1,010,125         1,098,588   

Pool #AB5970, 4.000%, 10/15/45

     2,571,070         2,767,738   

Pool #AB5975, 4.000%, 11/15/45

     2,332,307         2,510,694   
    

 

 

  
     57,844,883   
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $281,941,726)

   

      288,179,569   
    

 

 

  
U.S. Treasury Obligations 35.8%   

U.S. Treasury Bond 4.2%

     

3.000%, 11/15/45

     43,578,000         47,045,501   
    

 

 

  

U.S. Treasury Notes 31.6%

     

0.500%, 06/15/16(h)

     102,584,000         102,630,060   

0.875%, 07/15/17

     40,105,000         40,202,134   

0.625%, 09/30/17

     32,635,000         32,592,934   

1.250%, 10/31/18

     44,036,000         44,514,187   

1.500%, 10/31/19

     21,028,000         21,390,249   

1.375%, 02/29/20

     10,454,000         10,568,754   

1.625%, 02/15/26(f)

     99,671,000         98,222,681   
    

 

 

  
     350,120,999   
    

 

 

  

Total U.S. Treasury Obligations
(Cost $397,332,762)

   

      397,166,500   
    

 

 

  
Foreign Government Bonds 2.1%   

Sovereign 2.1%

     

Argentina Bonar Bonds, 8.750%, 05/07/24(f)

     20,310,000         21,264,570   
     Shares or
Principal
Amount($)		      Value($)  

Sovereign—continued

  

   

Mexico Government International Bond, 4.600%, 01/23/46

     1,600,000         1,560,000   
    

 

 

  

Total Foreign Government Bonds
(Cost $22,791,872)

   

      22,824,570   
    

 

 

  

Money Market Funds 12.7%

     

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.19%(i)

     37,082,162         37,082,162   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(i)(j)

     103,422,458         103,422,458   
    

 

 

  

Total Money Market Funds
(Cost $140,504,620)

   

      140,504,620   
    

 

 

  

Total Investments
(Cost $1,208,560,830) — 110.0%

   

      1,220,533,560   

Liabilities in Excess of Other
Assets — (10.0)%

        (110,473,972 ) 
    

 

 

  

Net Assets — 100.0%

      $ 1,110,059,588   
    

 

 

  

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 8.4% of net assets as of March 31, 2016.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(c) Less than 0.05% of Net Assets.

 

(d) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees. These securities represent 0.0% of net assets as of March 31, 2016.

 

(e) Perpetual maturity.

 

(f) The security or a partial position of the security was on loan as of March 31, 2016. The total value of securities on loan as of March 31, 2016 was $101,018,998.

 

(g) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(h) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(i) Rate disclosed, the 7 day yield, is as of March 31, 2016.

 

(j) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2016 (See Note 2(k)).

 

Investment Abbreviation
MTN   —   Medium Term Note
 

 

See Notes to Financial Statements.

 

95

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Total Return Bond Fund — concluded

 

Forward Foreign Currency Contracts

At March 31, 2016, the Fund’s open forward foreign currency contracts were as follows:

 

Currency

   Counterparty   Delivery
Date		     Contract
Amount
in Local
Currency		     Contract
Value in
USD		     Market
Value		     Unrealized
Appreciation
(Depreciation)		  

Short:

            

Australian Dollar

   JPMorgan     04/13/16        15,608,887      $ 11,125,000      $ 11,960,135      $ (835,135 ) 

Australian Dollar

   JPMorgan     04/19/16        15,568,118        11,140,000        11,925,564        (785,564 ) 

Chilean Peso

   JPMorgan     04/04/16        4,873,519,600        6,861,793        7,274,996        (413,203 ) 

Euro

   JPMorgan     04/11/16        19,934,897        22,000,000        22,688,899        (688,899 ) 

Mexican Peso

   JPMorgan     04/04/16        377,105,679        22,023,856        21,826,845        197,011   

Mexican Peso

   JPMorgan     07/05/16        191,801,581        11,080,000        11,011,562        68,438   

New Zealand Dollar

   JPMorgan     04/08/16        16,888,379        11,125,000        11,670,740        (545,740 ) 

New Zealand Dollar

   JPMorgan     04/15/16        16,625,104        11,100,000        11,484,520        (384,520 ) 

New Zealand Dollar

   JPMorgan     06/07/16        16,037,796        11,080,000        11,048,600        31,400   

Yuan Renminbi Offshore

   JPMorgan     08/19/16        148,957,310        22,300,000        22,896,061        (596,061 ) 
       

 

 

    

 

 

    

 

 

  

Total Short Contracts

         $ 139,835,649      $ 143,787,922      $ (3,952,273 ) 
       

 

 

    

 

 

    

 

 

  

Long:

            

Australian Dollar

   JPMorgan     04/19/16        15,568,118      $ 11,053,286      $ 11,925,564      $ 872,278   

Chilean Peso

   JPMorgan     04/04/16        4,873,519,600        6,784,797        7,274,996        490,199   

Mexican Peso

   JPMorgan     04/04/16        377,105,679        20,294,390        21,826,845        1,532,455   

Mexican Peso

   JPMorgan     07/05/16        377,105,679        21,846,508        21,650,095        (196,413 ) 

New Zealand Dollar

   JPMorgan     04/15/16        16,625,104        11,030,241        11,484,520        454,279   
       

 

 

    

 

 

    

 

 

  

Total Long Contracts

         $ 71,009,222      $ 74,162,020      $ 3,152,798   
       

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

96

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Government Securities Ultra-Short Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Security 0.7%     

Agency Collateralized Mortgage Obligation 0.7%

  

NCUA Guaranteed Notes Trust 2010-A1, Series 2010-A1, Cl A, 0.792%, 12/07/20(a)

     11,442,120         11,415,574   
    

 

 

  

Total Asset-Backed Security
(Cost $11,445,955)

        11,415,574   
    

 

 

  

Collateralized Mortgage Obligations 37.5%

  

   

Agency Collateralized Mortgage Obligations 19.5%

  

Federal Home Loan Mortgage Corporation

     

Series 3135, Cl FC, 0.736%, 04/15/26(a)

     1,910,111         1,914,831   

Series 3223, Cl FP, REMIC, 0.836%, 04/15/32(a)

     2,866,496         2,870,043   

Series 328, Cl F4, STRIPS, 0.776%, 02/15/38(a)

     20,362,819         20,331,289   

Series 3320, Cl FC, 0.606%, 05/15/37(a)

     3,928,468         3,917,666   

Series 3418, Cl FB, REMIC, 0.736%, 04/15/20(a)

     9,761,610         9,782,731   

Series 3511, Cl FA, 1.436%, 02/15/39(a)

     3,877,247         3,937,063   

Series 3593, Cl F,
0.926%, 03/15/36(a)

     3,868,153         3,884,142   

Series 4093, Cl FB, REMIC, 0.786%, 07/15/39(a)

     6,798,370         6,814,406   

Series 4247, Cl EF, REMIC, 0.836%, 03/15/32(a)

     2,320,503         2,331,830   

Series 4281, Cl BA, REMIC, 1.250%, 11/15/33

     390,132         390,009   

Series 4413, Cl WF, REMIC, 0.776%, 10/15/41(a)

     6,490,947         6,481,570   

Series 4416, Cl FB, REMIC, 0.746%, 01/15/40(a)

     15,200,923         15,156,980   

Series 4448, Cl TF, REMIC, 0.746%, 05/15/40(a)

     22,928,903         22,855,735   

Series 4474, Cl WF, REMIC, 0.776%, 12/15/36(a)

     26,348,311         26,319,644   
    

 

 

  
       126,987,939   
    

 

 

  

Federal National Mortgage Association

     

Series 2010-110, Cl AP, REMIC, 2.000%, 06/25/35

     1,223,759         1,226,605   

Series 2012-120, Cl AF, REMIC, 0.683%, 02/25/32(a)

     1,976,054         1,975,191   

Series 2012-73, Cl LF, REMIC, 0.883%, 06/25/39(a)

     4,061,660         4,052,919   

Series 2014-75, Cl FK, REMIC, 0.783%, 12/25/41(a)

     4,797,897         4,820,306   
     Shares or
Principal
Amount($)		      Value($)  

Agency Collateralized Mortgage Obligations—continued

  

Series 2015-42, Cl BF, REMIC, 0.736%, 06/25/45(a)

     29,932,169         29,858,344   
    

 

 

  
       41,933,365   
    

 

 

  

Government National Mortgage Association

     

Series 2012-98, Cl FM, 0.632%, 12/20/38(a)

     2,332,594         2,330,299   
    

 

 

  

NCUA Guaranteed Notes

     

Series 2010-R1, Cl 1A, 0.888%, 10/07/20(a)

     28,314,855         28,297,558   

Series 2010-R2, Cl 1A, 0.808%, 11/06/17(a)

     47,910,320         47,860,958   

Series 2010-R2, Cl 2A, 0.908%, 11/05/20(a)

     27,297,585         27,271,928   

Series 2010-R3, Cl 1A, 0.998%, 12/08/20(a)

     2,792,249         2,796,244   

Series 2011-R1, Cl 1A, 0.888%, 01/08/20(a)

     11,353,518         11,347,453   

Series 2011-R2, Cl 1A, 0.838%, 02/06/20(a)

     14,904,762         14,867,186   
    

 

 

  
       132,441,327   
    

 

 

  
       303,692,930   
    

 

 

  

Agency Collateralized Planned Amortization Class Mortgage Obligations 3.0%

   

Federal Home Loan Mortgage Corporation

     

Series 3071, Cl ZX, REMIC, 0.736%, 04/15/35(a)

     2,368,443         2,352,716   

Series 3767, Cl JF, REMIC, 0.736%, 02/15/39(a)

     1,904,905         1,910,640   

Series 3925, Cl FD, REMIC, 0.886%, 07/15/40(a)

     2,410,567         2,417,486   

Series 4203, Cl PF, REMIC, 0.686%, 09/15/42(a)

     24,246,149         24,289,908   
    

 

 

  
       30,970,750   
    

 

 

  

Federal National Mortgage Association

     

Series 2006-113, Cl NF, REMIC, 0.783%, 09/25/36(a)

     11,770,512         11,801,616   

Series 2008-24, Cl PF, REMIC, 1.083%, 02/25/38(a)

     2,458,024         2,472,640   

Series 2012-113, Cl PF, REMIC, 0.783%, 10/25/40(a)

     1,326,973         1,326,843   
    

 

 

  
       15,601,099   
    

 

 

  
       46,571,849   
    

 

 

  
 

 

See Notes to Financial Statements.

 

97

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Agency Collateralized Support Mortgage
Obligation 0.0%(b)

   

Federal National Mortgage Association

     

Series 1994-22, Cl F, REMIC, 1.633%, 01/25/24(a)

     331,770         338,247   
    

 

 

  

Commercial Mortgage Backed Securities 15.0%

  

Federal Home Loan Mortgage Corporation

     

Series KF03, Cl A,
0.781%, 01/25/21(a)

     2,744,345         2,738,649   

Series KF04, Cl A,
0.744%, 06/25/21(a)

     5,090,923         5,067,163   

Series KF05, Cl A,
0.782%, 09/25/21(a)

     12,018,157         11,969,786   

Series KF09, Cl A,
0.814%, 05/25/22(a)

     14,139,004         13,914,162   

Series KF10, Cl A,
0.813%, 07/25/22(a)

     11,896,621         11,699,012   

Series KF11, Cl A,
1.075%, 09/25/25(a)

     17,000,000         16,968,797   
    

 

 

  
       62,357,569   
    

 

 

  

Federal National Mortgage Association

     

Series 2011-M1, Cl FA, 0.883%, 06/25/21(a)

     29,179,135         28,970,624   

Series 2012-M13, Cl ASQ2, 1.246%, 08/25/17

     94,521         94,450   

Series 2012-M9, Cl ASQ2, 1.513%, 12/25/17

     4,041,455         4,053,581   

Series 2013-M14, Cl FA, 0.783%, 08/25/18(a)

     24,079,267         24,004,012   

Series 2014-M5, Cl ASQ2, 2.034%, 03/25/19

     10,000,000         10,143,216   

Series 2014-M6, Cl FA, 0.692%, 12/25/17(a)

     2,439,937         2,433,203   

Series 2014-M8, Cl FA, 0.653%, 05/25/18(a)

     6,487,762         6,446,486   

Series 2015-M1, Cl ASQ2, 1.626%, 02/25/18

     6,557,000         6,599,725   

Series 2015-M10, Cl FA, 0.653%, 03/25/19(a)

     22,754,537         22,662,616   

Series 2015-M12, Cl FA, 0.764%, 04/25/20(a)

     37,072,172         36,910,593   

Series 2015-M13, Cl ASQ2, 1.646%, 09/25/19

     10,615,000         10,686,476   

Series 2015-M14, Cl FA, 1.053%, 10/25/25(a)

     9,984,985         9,887,035   
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

  

Series 2015-M7, Cl ASQ2, 1.550%, 04/25/18

     7,215,000         7,241,740   

Series 2015-M8, Cl FA, 0.576%, 11/25/18(a)

     1,094,500         1,085,323   
    

 

 

  
       171,219,080   
    

 

 

  
       233,576,649   
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $585,790,262)

        584,179,675   
    

 

 

  

U.S. Government Agency Mortgages 56.2%

  

   

Federal Home Loan Mortgage Corporation

     

Pool #G14742, 2.000%, 05/01/23

     500,069         510,014   

Pool #847615, 2.728%, 07/01/33(a)

     4,438,788         4,686,373   

Pool #1B8683, 2.577%, 04/01/34(a)

     12,120,700         12,755,862   

Pool #848744, 2.580%, 05/01/34(a)

     17,027,563         17,860,977   

Pool #847991, 2.518%, 03/01/35(a)

     8,188,851         8,591,398   

Pool #848736, 2.536%, 05/01/35(a)

     26,987,755         28,252,060   

Pool #848797, 2.488%, 07/01/35(a)

     4,338,436         4,563,343   

Pool #1Q0025, 2.564%, 02/01/36(a)

     3,053,242         3,205,592   

Pool #1H2602, 2.570%, 03/01/36(a)

     3,365,444         3,511,624   

Pool #1Q1407, 2.557%, 07/01/36(a)

     9,497,948         10,017,180   

Pool #848747, 2.590%, 07/01/36(a)

     15,311,682         16,155,010   

Pool #848569, 2.529%, 11/01/36(a)

     13,235,155         13,955,328   

Pool #1Q1404, 2.572%, 01/01/37(a)

     13,926,513         14,657,655   

Pool #1Q1195, 2.320%, 05/01/37(a)

     13,856,060         14,508,875   

Pool #848796, 2.541%, 05/01/37(a)

     28,496,121         29,990,758   

Pool #1Q1282, 2.321%, 07/01/37(a)

     4,275,401         4,489,757   

Pool #848852, 2.532%, 08/01/37(a)

     19,335,375         20,370,760   

Pool #1Q0652, 2.561%, 02/01/38(a)

     2,063,623         2,179,444   
 

 

See Notes to Financial Statements.

 

98

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #1Q1405, 2.537%, 04/01/39(a)

     4,440,503         4,676,489   

Pool #1Q1420, 2.588%, 09/01/39(a)

     19,453,406         20,556,393   

Pool #849139, 3.128%, 09/01/43(a)

     3,259,568         3,394,547   

Pool #2B4993, 2.857%, 12/01/45(a)

     4,739,208         4,903,358   

Pool #2B5072, 2.852%, 01/01/46(a)

     5,601,803         5,795,267   
    

 

 

  
       249,588,064   
    

 

 

  

Federal National Mortgage Association

     

Pool #745530, 5.408%, 04/01/16

     1,013         1,010   

Pool #995887, 4.723%, 05/01/16

     4,665         4,654   

Pool #745764, 5.750%, 07/01/16

     7,470,382         7,469,430   

Pool #888015, 5.867%, 11/01/16

     131,473         131,383   

Pool #874196, 5.360%, 12/01/16

     730,000         737,078   

Pool #735745, 5.600%, 01/01/17

     2,720         2,719   

Pool #889232, 5.475%, 06/01/17

     2,023,780         2,077,568   

Pool #888969, 5.911%, 11/01/17

     2,699,353         2,839,450   

Pool #467010, 3.520%, 01/01/18

     5,438,443         5,611,599   

Pool #385912, 5.350%, 02/01/18

     5,508,115         5,737,991   

Pool #467288, 2.800%, 03/01/18

     1,548,865         1,587,616   

Pool #468279, 3.470%, 06/01/18

     3,773,849         3,892,161   

Pool #AL0561, 3.743%, 06/01/18

     19,315,514         20,063,345   

Pool #254906, 4.500%, 10/01/18

     12,814,557         13,256,224   

Pool #AM7163, 0.875%, 05/01/19(a)

     10,805,995         10,796,786   

Pool #310089, 5.000%, 05/01/19

     28,912,991         29,850,935   

Pool #958815, 4.506%, 06/01/19

     2,455,000         2,557,803   

Pool #AM6261, 0.645%, 07/01/19(a)

     15,370,000         15,369,335   

Pool #AM7028, 0.665%, 10/01/19(a)

     18,405,000         18,397,357   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AB0351, 4.500%, 04/01/20

     17,626,115         18,263,204   

Pool #AM9893, 0.805%, 10/01/21(a)

     27,500,000         27,484,210   

Pool #469856, 1.215%, 12/01/21(a)

     17,690,000         17,650,564   

Pool #AM9040, 0.695%, 06/01/22(a)

     17,995,000         17,986,565   

Pool #AM9651, 0.725%, 08/01/22(a)

     14,330,000         14,322,541   

Pool #AM7213, 1.075%, 08/01/22(a)

     4,540,000         4,536,172   

Pool #MA1415, 2.000%, 04/01/23

     508,496         518,519   

Pool #793025, 2.141%, 07/01/34(a)

     638,581         663,609   

Pool #AL0222, 2.498%, 07/01/34(a)

     9,356,044         9,835,230   

Pool #AD0064, 2.147%, 01/01/35(a)

     8,750,017         9,093,001   

Pool #805338, 2.407%, 01/01/35(a)

     107,293         110,284   

Pool #813718, 2.462%, 01/01/35(a)

     7,623,224         8,042,480   

Pool #809384, 2.590%, 01/01/35(a)

     363,010         380,592   

Pool #809324, 2.223%, 02/01/35(a)

     7,178         7,455   

Pool #814686, 2.634%, 03/01/35(a)

     183,130         189,813   

Pool #AD7165, 2.126%, 04/01/35(a)

     1,823,581         1,915,892   

Pool #995609, 2.612%, 04/01/35(a)

     1,863,919         1,970,575   

Pool #822302, 2.726%, 05/01/35(a)

     3,258,592         3,434,557   

Pool #AD0886, 2.590%, 07/01/35(a)

     2,696,739         2,839,663   

Pool #AL0505, 2.423%, 11/01/35(a)

     8,487,741         8,971,538   

Pool #AL0345, 2.542%, 11/01/35(a)

     4,100,889         4,324,970   

Pool #AD0377, 2.115%, 01/01/36(a)

     2,117,185         2,190,507   

Pool #888722, 2.294%, 01/01/36(a)

     1,841,300         1,937,061   

Pool #995540, 2.477%, 01/01/36(a)

     6,613,530         6,959,534   

Pool #888782, 2.454%, 03/01/36(a)

     1,521,046         1,599,073   
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AL1015, 2.467%, 04/01/36(a)

     2,160,611         2,277,347   

Pool #AL2202, 2.547%, 06/01/36(a)

     9,113,290         9,579,087   

Pool #AL0854, 2.552%, 06/01/36(a)

     5,811,669         6,122,514   

Pool #888859, 2.517%, 10/01/36(a)

     742,470         782,384   

Pool #AA3517, 2.363%, 11/01/36(a)

     5,483,916         5,741,511   

Pool #903166, 2.628%, 11/01/36(a)

     2,534,748         2,681,270   

Pool #AL0968, 2.530%, 12/01/36(a)

     14,769,443         15,562,791   

Pool #906216, 2.552%, 01/01/37(a)

     2,109,862         2,213,527   

Pool #AL0872, 2.069%, 07/01/37(a)

     3,890,382         4,050,746   

Pool #AL0960, 2.485%, 07/01/37(a)

     15,282,993         16,097,686   

Pool #AD0380, 2.468%, 10/01/37(a)

     7,690,140         8,083,743   

Pool #AL0966, 2.583%, 11/01/37(a)

     5,836,673         6,140,368   

Pool #AE0332, 2.634%, 11/01/37(a)

     6,032,058         6,369,114   

Pool #AL0270, 2.384%, 08/01/38(a)

     13,449,320         14,141,560   

Pool #AE0066, 2.432%, 09/01/39(a)

     13,670,322         14,454,045   

Pool #725874, 2.550%, 09/01/39(a)

     67,384         70,902   

Pool #AL2013, 2.467%, 10/01/39

     320,658         338,499   

Pool #AL6516, 2.601%, 04/01/40(a)

     14,780,776         15,509,979   

Pool #AE0544, 2.575%, 11/01/40(a)

     8,565,507         8,982,315   

Pool #AL0323, 3.203%, 06/01/41(a)

     10,646,147         11,240,328   

Pool #AL1801, 2.935%, 05/01/42(a)

     6,487,616         6,730,385   

Pool #AT1150, 2.802%, 09/01/43(a)

     11,847,680         12,230,439   

Pool #AT1155, 2.980%, 09/01/43(a)

     3,564,512         3,704,688   

Pool #AL7562, 2.692%, 10/01/43

     20,431,373         20,998,626   

Pool #AY4058, 2.756%, 05/01/44(a)

     4,265,081         4,397,873   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AW2489, 2.407%, 06/01/44

     11,411,778         11,709,983   

Pool #AL5406, 3.213%, 06/01/44(a)

     9,086,295         9,514,583   

Pool #AW6998, 3.216%, 06/01/44(a)

     2,702,045         2,829,688   

Pool #AW9723, 2.299%, 07/01/44(a)

     6,528,935         6,727,440   

Pool #AL5640, 2.271%, 08/01/44(a)

     4,006,245         4,134,014   

Pool #AW2253, 3.030%, 08/01/44(a)

     3,495,666         3,636,593   

Pool #AL5643, 2.978%, 09/01/44(a)

     2,293,576         2,379,022   

Pool #AL5793, 3.129%, 09/01/44(a)

     4,480,288         4,678,691   

Pool #AX5937, 2.581%, 11/01/44(a)

     1,261,117         1,299,108   

Pool #AX9332, 3.040%, 12/01/44(a)

     9,456,604         9,827,445   

Pool #AY0836, 2.274%, 01/01/45(a)

     1,995,858         2,048,967   

Pool #AY3142, 2.604%, 01/01/45(a)

     1,088,799         1,123,510   

Pool #AY2431, 2.249%, 02/01/45(a)

     4,931,392         5,069,242   

Pool #AY7185, 2.442%, 04/01/45(a)

     5,057,956         5,186,516   

Pool #AZ7163, 2.610%, 07/01/45

     1,768,757         1,818,991   

Pool #AZ8772, 2.707%, 09/01/45

     5,618,032         5,786,130   
    

 

 

  
       581,883,703   
    

 

 

  

Government National Mortgage Association

     

Pool #082480, 3.000%, 02/20/40

     986,479         1,022,798   

Pool #082542, 1.750%, 05/20/40

     2,778,577         2,858,358   

Pool #082540, 3.000%, 05/20/40(a)

     6,222,553         6,409,102   

Pool #082580, 2.750%, 07/20/40(a)

     2,285,625         2,362,998   

Pool #082627, 3.000%, 09/20/40(a)

     3,589,949         3,715,519   

Pool #082852, 1.750%, 06/20/41(a)

     20,075,371         20,652,416   

Pool #082904, 1.880%, 08/20/41(a)

     1,763,295         1,810,998   
 

 

See Notes to Financial Statements.

 

100

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Government Securities Ultra-Short Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #MA0414, 1.875%, 09/20/42(a)

     5,641,148         5,799,770   
    

 

 

  
       44,631,959   
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $861,816,947)

        876,103,726   
    

 

 

  

U.S. Treasury Obligation 0.1%

  

   

U.S. Treasury Bill 0.1%

     

0.000%, 07/21/16(c)

     1,000,000         999,175   
    

 

 

  

Total U.S. Treasury Obligation
(Cost $998,844)

        999,175   
    

 

 

  

Money Market Fund 5.3%

     

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.24%(d)

     81,726,491         81,726,491   
    

 

 

  

Total Money Market Fund
(Cost $81,726,491)

        81,726,491   
    

 

 

  
     Shares or
Principal
Amount($)		    Value($)  

Total Investments
(Cost $1,541,778,499) — 99.8%

      1,554,424,641   

Other Assets in Excess of
Liabilities — 0.2%

        3,474,619   
    

 

 

  

Net Assets — 100.0%

      $ 1,557,899,260   
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(b) Less than 0.05% of Net Assets.

 

(c) Zero coupon bond.

 

(d) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

REMIC   —   Real Estate Mortgage Investment Conduit
STRIPS   —   Separate Trading of Registered Interest and Principal Securities
 

 

Open Futures Contracts

At March 31, 2016, the Fund’s open futures contracts were as follows:

 

Description

    Position    Notional
Amount		      Expiration
Month		      Contracts      Unrealized
Depreciation		  

U.S. Treasury 2 Year Note

    Short      $(102,999,877)         June 2016         471         $(31,373)   

U.S. Treasury 5 Year Note

    Short      (19,735,056)         June 2016         163         (14,686)   
              

 

 

  
                 $(46,059)   
              

 

 

  

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Mortgage Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Collateralized Mortgage Obligations 4.8%   

Commercial Mortgage Backed Securities 4.8%

  

Federal Home Loan Mortgage Corporation

     

Series KP02, Cl A2, 2.355%, 04/25/21(a)

     140,000         143,428   
    

 

 

  

Federal National Mortgage Association

     

Series 2006-M2, Cl A2A, 5.271%, 10/25/32

     269,363         293,273   
    

 

 

  

GS Mortgage Securities Corp. II

     

Series 2012-ALOH, Cl A,
3.551%, 04/10/34(b)

     365,000         388,535   

Series 2012-BWTR, Cl B,
3.255%, 11/05/34(b)

     109,000         108,346   
    

 

 

  
     496,881   
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2014-CPT, Cl A,
3.350%, 07/13/29(b)

     300,000         315,088   
    

 

 

  

OBP Depositor LLC Trust

     

Series 2010-OBP, Cl A,
4.646%, 07/15/45(b)

     500,000         553,358   
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $1,779,451)

        1,802,028   
    

 

 

  

U.S. Government Agency Mortgages 92.1%

  

Federal Home Loan Mortgage Corporation

     

Pool #J23359, 2.500%, 04/01/23

     515,884         530,913   

Pool #C01785, 5.000%, 02/01/34

     188,687         209,493   

Pool #C91768, 3.500%, 07/01/34

     950,863         1,002,005   

Pool #G01838, 5.000%, 07/01/35

     160,979         178,604   

Pool #A47828, 3.500%, 08/01/35

     812,529         857,976   

Pool #Z40004, 6.000%, 08/01/36

     56,086         64,122   

Pool #A85718, 4.000%, 04/01/39

     66,371         72,038   

Pool #G08347, 4.500%, 06/01/39

     43,513         47,343   

Pool #A89148, 4.000%, 10/01/39

     133,353         142,712   

Pool #G08372, 4.500%, 11/01/39

     210,215         228,829   

Pool #A93101, 5.000%, 07/01/40

     263,538         290,539   

Pool #G06061, 4.000%, 10/01/40

     148,353         159,310   

Pool #A95085, 4.000%, 11/01/40

     752,459         805,192   

Pool #A95796, 4.000%, 12/01/40

     92,011         98,535   

Pool #G07068, 5.000%, 07/01/41

     593,505         651,930   

Pool #G60126, 4.500%, 11/01/41

     263,604         286,767   

Pool #G07031, 4.000%, 05/01/42

     599,868         644,382   

Pool #Q10929, 3.500%, 09/01/42

     470,212         492,766   

Pool #Q18522, 3.500%, 05/01/43(c)

     509,301         535,502   

Pool #849167, 2.947%, 10/01/43(a)

     788,216         816,638   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #G60019, 4.500%, 03/01/44

     678,203         739,046   

Pool #Q26366, 4.000%, 05/01/44

     257,284         277,515   

Pool #V81283, 4.000%, 07/01/44

     481,859         514,681   

Pool #Q31645, 4.000%, 02/01/45

     133,385         143,120   
    

 

 

  
     9,789,958   
    

 

 

  

Federal National Mortgage Association

     

Pool #AM9210, 2.400%, 12/01/20

     494,384         510,574   

Pool #AN0371, 2.910%, 11/01/22

     1,190,911         1,255,913   

Pool #AL2855, 2.500%, 01/01/23

     417,836         430,073   

Pool #MA1688, 3.500%, 12/01/33

     70,841         74,900   

Pool #MA1763, 3.500%, 01/01/34

     126,991         134,260   

Pool #AL0049, 6.000%, 12/01/35

     44,963         51,650   

Pool #AB6401, 3.000%, 10/01/37

     366,211         377,620   

Pool #889529, 6.000%, 03/01/38

     292,729         337,034   

Pool #889579, 6.000%, 05/01/38

     190,212         216,916   

Pool #AE0814, 6.000%, 09/01/39

     525,940         600,492   

Pool #AC2817, 4.000%, 10/01/39

     11,010         11,762   

Pool #AX3605, 3.500%, 01/01/40

     234,178         246,065   

Pool #AL7497, 3.500%, 09/01/40

     1,896,325         1,992,205   

Pool #AD9725, 3.500%, 10/01/40

     85,543         89,872   

Pool #AE3860, 5.000%, 10/01/40

     730,364         810,815   

Pool #AE4414, 4.000%, 11/01/40

     41,052         43,993   

Pool #AE5143, 4.000%, 11/01/40

     37,030         39,682   

Pool #AB2071, 3.500%, 01/01/41

     92,827         97,532   

Pool #AH4161, 3.500%, 01/01/41(d)

     1,073,528         1,127,939   

Pool #MA0639, 4.000%, 02/01/41

     620,041         664,337   

Pool #AL0215, 4.500%, 04/01/41

     176,494         192,670   

Pool #890381, 3.500%, 10/01/41

     366,711         385,285   

Pool #AB3865, 3.500%, 11/01/41

     59,594         62,902   

Pool #AW8154, 3.500%, 01/01/42

     1,085,112         1,142,186   

Pool #AI9101, 3.500%, 04/01/42

     445,294         469,466   

Pool #AB5188, 3.500%, 05/01/42

     78,174         82,152   

Pool #AO8632, 3.500%, 07/01/42

     296,281         311,827   

Pool #AP7874, 3.500%, 10/01/42

     140,363         147,507   

Pool #AB8726, 3.500%, 03/01/43

     100,120         105,207   

Pool #AL3657, 3.500%, 06/01/43

     202,058         213,558   

Pool #AL5939, 3.500%, 09/01/43(c)

     844,492         888,913   

Pool #AL5528, 4.000%, 05/01/44

     330,681         356,146   

Pool #AL6223, 4.500%, 08/01/44(d)

     763,315         831,107   

Pool #AY2685, 4.500%, 01/01/45

     90,976         99,891   

Pool #AX8835, 2.801%, 02/01/45(a)

     170,272         175,441   
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix U.S. Mortgage Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AZ5755, 3.500%, 09/01/45

     721,024         759,776   

Pool #AZ7723, 4.500%, 10/01/45

     1,369,663         1,494,300   

Pool #BC2470, 3.500%, 02/01/46

     204,638         215,865   
    

 

 

  
     17,047,833   
    

 

 

  

Government National Mortgage Association

     

Pool #004396, 4.000%, 03/20/39

     231,015         247,685   

Pool #004637, 5.000%, 02/20/40

     216,941         240,039   

Pool #AA5471, 4.000%, 12/15/41

     926,413         993,950   

Pool #MA0321, 5.000%, 08/20/42

     25,679         28,626   

Pool #666413, 4.000%, 09/15/43

     71,915         77,666   

Pool #MA2681, 5.000%, 03/20/45

     799,943         871,014   

Pool #AM0226, 4.000%, 05/15/45

     199,327         213,512   

Pool #AM9875, 4.000%, 06/15/45

     215,124         231,060   

Pool #AN7421, 4.000%, 06/15/45

     614,481         658,894   

Pool #AN8476, 3.500%, 07/15/45

     229,448         242,618   

Pool #626960, 3.500%, 07/15/45

     298,932         317,678   

Pool #AN5781, 4.000%, 07/15/45

     134,775         144,561   

Pool #AN6811, 4.000%, 07/15/45

     692,047         741,373   

Pool #AO0509, 3.500%, 08/15/45

     255,231         270,179   

Pool #626970, 3.500%, 08/15/45

     316,368         336,218   

Pool #AO3608, 4.000%, 08/15/45

     1,027,186         1,102,011   

Pool #AM9046, 4.500%, 08/15/45

     324,408         353,818   

Pool #AB5970, 4.000%, 10/15/45

     176,721         190,238   

Pool #AB5975, 4.000%, 11/15/45

     76,561         82,417   
    

 

 

  
     7,343,557   
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $33,714,106)

        34,181,348   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  
U.S. Treasury Obligations 1.8%     

U.S. Treasury Notes 1.8%

     

1.375%, 02/29/20

     360,000         363,952   

1.625%, 02/15/26

     300,000         295,641   
    

 

 

  

Total U.S. Treasury Obligations
(Cost $653,163)

        659,593   
    

 

 

  

Money Market Fund 6.6%

     

State Street Institutional Treasury Money Market Fund, Institutional Class,
0.19%(e)

     2,438,560         2,438,560   
    

 

 

  

Total Money Market Fund
(Cost $2,438,560)

        2,438,560   
    

 

 

  

Total Investments
(Cost $38,585,280) —105.3%

        39,081,529   

Liabilities in Excess of
Other Assets — (5.3)%

        (1,976,006 ) 
    

 

 

  

Net Assets — 100.0%

      $ 37,105,523   
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 3.7% of net assets as of March 31, 2016.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(e) Rate disclosed, the 7 day yield, is as of March 31, 2016.
 

 

See Notes to Financial Statements.

 

103

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix Ultra-Short Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 20.6%      

Auto Floor Plan 1.1%

  

   

BMW Floorplan Master Owner Trust, Series 2015-1A, Cl A,
0.936%, 07/15/20(a)(b)

     1,100,000         1,100,443   
    

 

 

  

Automobiles 7.2%

     

AmeriCredit Automobile Receivables Trust, Series 2013-5, Cl B, 1.520%, 01/08/19

     1,055,000         1,055,002   

California Republic Auto Receivables Trust, Series 2014-1, Cl A3, 0.850%, 05/15/18

     238,434         238,240   

Capital Auto Receivables Asset Trust, Series 2013-3, Cl A4, 1.680%, 04/20/18

     880,000         881,423   

Chrysler Capital Auto Receivables Trust, Series 2013-BA, Cl B,
1.780%, 06/17/19(b)

     500,000         499,536   

Fifth Third Auto Trust, Series 2015-1, Cl A2B,
0.986%, 05/15/18(a)

     1,000,000         1,000,507   

First Investors Auto Owner Trust, Series 2013-1A, Cl B,
1.810%, 10/15/18(b)

     500,000         499,854   

Harley-Davidson Motorcycle Trust, Series 2014-1, Cl A2B, 0.606%, 04/15/18(a)

     115,635         115,619   

Honda Auto Receivables Owner Trust, Series 2013-2, Cl A3, 0.530%, 02/16/17

     167,575         167,532   

Hyundai Auto Receivables Trust, Series 2014-A, Cl B, 1.730%, 08/15/19

     585,000         586,544   

Mercedes Benz Auto Lease Trust, Series 2015-B, Cl A2B, 0.956%, 01/16/18(a)

     935,000         935,579   

Toyota Auto Receivables 2015-A Owner Trust, Series 2015-A, Cl A3, 1.120%, 02/15/19

     1,600,000         1,600,997   
    

 

 

  
       7,580,833   
    

 

 

  

Credit Card 8.6%

     

American Express Credit Account Master Trust, Series 2013-1, Cl A, 0.856%, 02/16/21(a)

     1,463,000         1,466,033   

American Express Credit Account Master Trust, Series 2013-2, Cl A, 0.856%, 05/17/21(a)

     125,000         125,200   
     Shares or
Principal
Amount($)		      Value($)  

Credit Card—continued

     

American Express Issuance Trust II, Series 2013-1, Cl A,
0.716%, 02/15/19(a)

     750,000         750,065   

Barclays Dryrock Issuance Trust, Series 2014-1, Cl A,
0.796%, 12/16/19(a)

     1,280,000         1,279,616   

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A,
0.886%, 07/15/22(a)

     1,512,000         1,487,367   

Capital One Multi-Asset Execution Trust, Series 2015-A1, Cl A, 1.390%, 01/15/21

     873,000         875,816   

Chase Issuance Trust, Series 2007-A2, Cl A2, 0.486%, 04/15/19(a)

     924,000         922,454   

Discover Card Execution Note Trust, Series 2014-A1, Cl A1, 0.866%, 07/15/21(a)

     1,050,000         1,050,840   

Nordstrom Credit Card Master Note Trust II, Series 2011-1A, Cl A, 2.280%, 11/15/19(b)

     1,045,000         1,051,396   
    

 

 

  
       9,008,787   
    

 

 

  

Other 2.4%

     

Centerpoint Energy Transition Bond Co. III LLC, Series 2008-A, Cl A1, 4.192%, 02/01/20

     293,421         296,459   

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(b)

     1,019,023         1,042,820   

Ohio Phase-In-Recovery Funding LLC, Series 2013-1, Cl A1, 0.958%, 07/01/18

     916,180         914,082   

Oncor Electric Delivery Transition Bond Co. LLC, Series 2004-1, Cl A3, 5.290%, 05/15/18

     259,483         260,802   
    

 

 

  
       2,514,163   
    

 

 

  

Student Loan Asset Backed Security 1.3%

  

SLM Student Loan Trust, Series 2013-1, Cl A2, 0.683%, 09/25/19(a)

     1,377,901         1,360,934   
    

 

 

  

Total Asset-Backed Securities
(Cost $21,570,373)

        21,565,160   
    

 

 

  

Collateralized Mortgage Obligations 17.4%

  

Agency Collateralized Mortgage Obligations 2.0%

  

Federal Home Loan Mortgage Corporation

     

Series 2839, Cl TS, REMIC, 5.000%, 08/15/19

     1,745,867         1,806,482   
 

 

See Notes to Financial Statements.

 

104

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Agency Collateralized Mortgage Obligations—continued

  

Series 3728, Cl EH, REMIC, 3.000%, 09/15/20

     106,022         106,265   

Series 4513, Cl MB, REMIC, 4.000%, 03/15/22

     34,240         34,202   
    

 

 

  
       1,946,949   
    

 

 

  

NCUA Guaranteed Notes

     

Series 2011-R5, Cl 1A,
0.818%, 04/06/20(a)

     126,450         126,466   
    

 

 

  
       2,073,415   
    

 

 

  

Commercial Mortgage Backed Securities 15.2%

  

Commercial Mortgage Trust

     

Series 2012-9W57, Cl A, 2.365%, 02/10/29(b)

     1,250,000         1,257,800   

Series 2012-CR2, Cl A2, 2.025%, 08/15/45

     179,353         180,177   

Series 2012-LC4, Cl A2, 2.256%, 12/10/44

     548,684         550,802   
    

 

 

  
       1,988,779   
    

 

 

  

Credit Suisse Commercial Mortgage Trust

     

Series 2006-C5, Cl A3, 5.311%, 12/15/39

     1,376,172         1,384,817   
    

 

 

  

Federal National Mortgage Association

     

Series 2011-M1, Cl FA,
0.883%, 06/25/21(a)

     1,361,214         1,351,487   

Series 2014-M12, Cl FA,
0.724%, 10/25/21(a)

     1,684,305         1,663,932   

Series 2014-M6, Cl FA,
0.692%, 12/25/17(a)

     798,888         796,683   

Series 2014-M8, Cl FA,
0.653%, 05/25/18(a)

     380,567         378,146   

Series 2015-M12, Cl FA, 0.764%, 04/25/20(a)

     1,824,108         1,816,158   
    

 

 

  
       6,006,406   
    

 

 

  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2013-C13, Cl A1, 1.303%, 01/15/46

     776,253         774,795   
    

 

 

  

ML-CFC Commercial Mortgage Trust

     

Series 2006-3, Cl A1A,
5.409%, 07/12/46(a)

     360,921         363,757   
    

 

 

  

Morgan Stanley Bank of America Merrill Lynch Trust

     

Series 2013-C12, Cl A1, 1.313%, 10/15/46

     762,599         758,769   

Series 2014-C14, Cl A1, 1.250%, 02/15/47

     299,416         297,621   
    

 

 

  
       1,056,390   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

  

Morgan Stanley Capital I Trust

     

Series 2006-IQ12, Cl A1A, 5.319%, 12/15/43

     911,957         924,142   

Series 2012-C4, Cl A2, 2.111%, 03/15/45

     1,830,000         1,835,321   
    

 

 

  
       2,759,463   
    

 

 

  

WF-RBS Commercial Mortgage Trust

     

Series 2011-C5, Cl A1, 1.456%, 11/15/44

     191,326         191,235   

Series 2012-C10, Cl A2, 1.765%, 12/15/45

     1,500,000         1,502,814   
    

 

 

  
       1,694,049   
    

 

 

  
       16,028,456   
    

 

 

  

Whole Loan Collateral Mortgage Obligation 0.2%

  

Banc of America Mortgage Securities, Inc.

     

Series 2003-F, Cl 1A1,
2.623%, 07/25/33(a)

     204,177         193,785   
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $18,331,184)

        18,295,656   
    

 

 

  

Corporate Bonds 43.8%

     

Advertising 0.5%

     

Omnicom Group, Inc., 5.900%, 04/15/16

     505,000         505,680   
    

 

 

  

Aerospace/Defense 0.5%

     

Lockheed Martin Corp., 1.850%, 11/23/18

     499,000         504,698   
    

 

 

  

Auto Manufacturers 3.9%

     

Daimler Finance North America LLC, 1.476%, 08/01/18(a)(b)

     1,665,000         1,659,174   

Ford Motor Credit Co. LLC, 1.400%, 01/17/17,
Series 00, MTN(a)

     550,000         550,506   

Ford Motor Credit Co. LLC, 2.145%, 01/09/18

     206,000         205,756   

Ford Motor Credit Co. LLC, 5.000%, 05/15/18

     465,000         491,005   

PACCAR Financial Corp., 1.236%, 12/06/18, MTN(a)

     445,000         445,953   

Volkswagen International Finance, 1.058%, 11/18/16(a)(b)

     785,000         781,181   
    

 

 

  
       4,133,575   
    

 

 

  

Banks 11.1%

     

Bank of America Corp., 2.000%, 01/11/18

     1,432,000         1,437,897   
 

 

See Notes to Financial Statements.

 

105

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Banks—continued

     

Branch Banking & Trust Co., 1.050%, 12/01/16

     1,650,000         1,651,393   

Goldman Sachs Group, Inc. (The), 5.950%, 01/18/18

     1,750,000         1,876,684   

ING Bank NV, 1.800%, 03/16/18(b)

     1,537,000         1,541,477   

JPMorgan Chase & Co., 6.125%, 06/27/17

     1,150,000         1,210,385   

KeyBank NA, 1.119%, 11/25/16(a)

     1,620,000         1,620,624   

Lloyds Bank PLC, 1.750%, 05/14/18

     1,401,000         1,397,772   

Wells Fargo & Co., 1.250%, 07/20/16, MTN

     860,000         861,525   
    

 

 

  
       11,597,757   
    

 

 

  

Beverages 1.2%

     

Anheuser-Busch InBev Finance, Inc., 1.900%, 02/01/19

     1,288,000         1,306,393   
    

 

 

  

Biotechnology 0.7%

     

Celgene Corp., 2.125%, 08/15/18

     685,000         692,758   
    

 

 

  

Chemicals 1.5%

     

Chevron Phillips Chemical Co. LLC, 1.700%, 05/01/18(b)

     1,553,000         1,541,933   
    

 

 

  

Computers 0.4%

     

Hewlett Packard Enterprise Co., 2.850%, 10/05/18(b)

     431,000         438,237   
    

 

 

  

Electric 2.1%

     

Duke Energy Corp., 1.009%, 04/03/17(a)

     1,010,000         1,003,229   

MidAmerican Energy Co., 5.300%, 03/15/18

     1,100,000         1,179,539   
    

 

 

  
       2,182,768   
    

 

 

  

Healthcare-Products 2.7%

     

Becton Dickinson and Co., 1.800%, 12/15/17

     1,502,000         1,508,315   

Medtronic, Inc., 1.500%, 03/15/18

     1,342,000         1,353,553   
    

 

 

  
       2,861,868   
    

 

 

  

Healthcare-Services 4.7%

     

Aetna, Inc., 1.750%, 05/15/17

     590,000         592,720   

Providence Health & Services Obligated Group, 1.425%, 10/01/16(a)

     1,520,000         1,520,763   

UnitedHealth Group, Inc., 1.875%, 11/15/16

     1,450,000         1,460,130   

UnitedHealth Group, Inc., 6.000%, 02/15/18

     1,254,000         1,361,529   
    

 

 

  
       4,935,142   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Housewares 0.9%

     

Newell Rubbermaid, Inc., 2.600%, 03/29/19

     882,000         894,826   
    

 

 

  

Insurance 0.5%

     

Berkshire Hathaway Finance Corp., 1.700%, 03/15/19

     550,000         557,632   
    

 

 

  

Internet 0.4%

     

eBay, Inc.,
2.500%, 03/09/18

     451,000         458,315   
    

 

 

  

Media 1.7%

     

Comcast Corp.,
5.875%, 02/15/18

     1,650,000         1,792,426   
    

 

 

  

Oil & Gas 2.9%

     

BP Capital Markets PLC, 1.260%, 09/26/18(a)

     1,450,000         1,426,185   

Shell International Finance BV, 0.900%, 11/15/16

     1,650,000         1,652,363   
    

 

 

  
       3,078,548   
    

 

 

  

Oil & Gas Services 0.8%

     

Schlumberger Holdings Corp., 1.900%, 12/21/17(b)

     876,000         873,920   
    

 

 

  

Pharmaceuticals 1.1%

     

AbbVie, Inc., 1.800%, 05/14/18

     821,000         826,514   

McKesson Corp., 2.284%, 03/15/19

     375,000         379,513   
    

 

 

  
       1,206,027   
    

 

 

  

Pipelines 1.7%

     

Enbridge, Inc., 1.275%, 10/01/16(a)

     636,000         629,790   

Kinder Morgan, Inc., 2.000%, 12/01/17

     719,000         711,296   

Spectra Energy Partners LP, 2.950%, 06/15/16

     488,000         488,595   
    

 

 

  
       1,829,681   
    

 

 

  

Real Estate Investment Trust 0.7%

  

American Tower Corp., 4.500%, 01/15/18

     670,000         698,139   
    

 

 

  

Retail 0.7%

     

CVS Health Corp., 1.900%, 07/20/18

     687,000         697,025   
    

 

 

  

Software 0.5%

     

Fidelity National Information Services, Inc., 2.850%, 10/15/18

     488,000         495,954   
    

 

 

  

Telecommunication Services 1.2%

  

Verizon Communications, Inc., 1.036%, 06/09/17(a)

     390,000         389,223   
 

 

See Notes to Financial Statements.

 

106

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Telecommunication Services—continued

  

Verizon Communications, Inc., 2.550%, 06/17/19

     815,000         838,386   
    

 

 

  
       1,227,609   
    

 

 

  

Transportation 1.4%

     

Canadian National Railway Co., 0.787%, 11/14/17(a)

     1,454,000         1,450,365   
    

 

 

  

Total Corporate Bonds (Cost $45,877,906)

        45,961,276   
    

 

 

  
Municipal Bonds 2.5%     

Louisiana 0.8%

     

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, 2.470%, 02/01/19

     823,063         826,232   
    

 

 

  

New Jersey 1.7%

     

New Jersey Economic Development Authority, Series Q, RB, 1.096%, 06/15/16

     1,755,000         1,755,123   
    

 

 

  

Total Municipal Bonds
(Cost $2,586,372)

        2,581,355   
    

 

 

  

U.S. Government Agency Mortgages 12.2%

  

Federal Home Loan Mortgage Corporation

     

Pool #1Q1404, 2.576%, 01/01/37(a)

     727,674         765,877   

Pool #848852, 2.576%, 08/01/37(a)

     904,992         953,453   
    

 

 

  
       1,719,330   
    

 

 

  

Federal National Mortgage Association

     

Pool #467863, 3.860%, 04/01/18

     103,677         108,048   

Pool #468123, 3.840%, 05/01/18

     200,000         208,974   

Pool #958815, 4.506%, 06/01/19

     1,500,000         1,562,812   

Pool #AB0351, 4.500%, 04/01/20

     1,363,983         1,413,284   

Pool #AL0968, 2.530%, 12/01/36(a)

     282,277         297,439   

Pool #AD0380, 2.467%, 10/01/37(a)

     404,258         424,949   

Pool #AL0966, 2.583%, 11/01/37(a)

     367,710         386,843   

Pool #AT1150, 2.802%, 09/01/43(a)

     960,627         991,662   
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AL7562, 2.692%, 10/01/43

     2,431,193         2,498,693   
    

 

 

  
       7,892,704   
    

 

 

  

Government National Mortgage Association

     

Pool #082649, 2.000%, 10/20/40(a)

     1,722,941         1,770,585   

Pool #082852, 1.750%, 06/20/41(a)

     1,380,364         1,420,042   
    

 

 

  
       3,190,627   
    

 

 

  

Total U.S. Government Agency Mortgages (Cost $12,679,093)

        12,802,661   
    

 

 

  
U.S. Treasury Obligation 0.1%   

U.S. Treasury Bill 0.1%

     

0.000%, 07/21/16(c)

     110,000         109,910   
    

 

 

  

Total U.S. Treasury Obligation
(Cost $109,873)

   

      109,910   
    

 

 

  

Money Market Fund 3.1%

     

State Street Institutional U.S. Government Money Market Fund, Institutional Class,
0.24%(d)

     3,270,974         3,270,974   
    

 

 

  

Total Money Market Fund
(Cost $3,270,974)

        3,270,974   
    

 

 

  

Money Market Fund—continued

  

   

Total Investments
(Cost $104,425,775) — 99.7%

        104,586,992   

Other Assets in Excess of Liabilities — 0.3%

        363,302   
    

 

 

  

Net Assets — 100.0%

      $ 104,950,294   
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2016.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 11.7% of net assets as of March 31, 2016.

 

(c) Zero coupon bond.

 

(d) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

MTN   —   Medium Term Note
RB   —   Revenue Bond
REMIC   —   Real Estate Mortgage Investment Conduit
 

 

See Notes to Financial Statements.

 

107

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Ultra-Short Bond Fund — concluded

 

Open Futures Contracts

At March 31, 2016, the Fund’s open futures contracts were as follows:

 

Description

    Position    Notional
Amount		      Expiration
Month		      Contracts      Unrealized
Depreciation		  

U.S. Treasury 2 Year Note

    Short      $(17,713,354)         June 2016         81         $(5,396)   

U.S. Treasury 5 Year Note

    Short      (3,995,441)         June 2016         33         (2,973)   
              

 

 

  
                 $(8,369)   
              

 

 

  

 

See Notes to Financial Statements.

 

108

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Virginia Intermediate Municipal Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 95.4%      

Alabama 1.0%

     

Birmingham, Series A, GO, 0.000%, 03/01/32(a)

     645,000         700,373   
    

 

 

  

District of Columbia 5.1%

  

   

Metropolitan Washington D.C. Airports Authority, Airport System, Series A, AMT, RB, 5.125%, 10/01/23

     1,000,000         1,096,640   

Metropolitan Washington D.C. Airports Authority, Airport System, Series B, RB, 5.000%, 10/01/26, BHAC

     2,175,000         2,452,661   
    

 

 

  
       3,549,301   
    

 

 

  

Guam 1.6%

  

   

Guam Waterworks Authority Water & Watstewater System, RB, 5.000%, 01/01/46

     665,000         754,556   

Territory of Guam, Series D, RB, 5.000%, 11/15/39

     300,000         339,099   
    

 

 

  
       1,093,655   
    

 

 

  

North Carolina 2.8%

  

   

North Carolina Capital Facilities Finance Agency, Educational Facilities, RB, 5.000%, 05/01/32

     1,740,000         1,911,512   
    

 

 

  

Virginia 84.9%

  

   

Fairfax County Economic Development Authority, RB, 5.000%, 08/01/22

     1,700,000         1,982,336   

Fairfax County Industrial Development Authority, RB, 5.500%, 05/15/35

     1,000,000         1,129,070   

Fairfax County Industrial Development Authority, Series D, RB, 5.000%, 05/15/27

     1,300,000         1,530,555   

Fairfax County Water Authority, RB, 5.000%, 04/01/25

     3,050,000         3,693,489   

Fairfax County Water Authority, RB, 5.000%, 04/01/27

     600,000         721,698   

Greater Richmond Convention Center Authority, RB, 5.000%, 06/15/28

     1,375,000         1,682,422   

Greater Richmond Convention Center Authority, RB, 5.000%, 06/15/30

     1,000,000         1,207,650   

Greater Richmond Convention Center Authority, RB, 5.000%, 06/15/32

     1,000,000         1,194,420   
     Shares or
Principal
Amount($)		      Value($)  

Virginia—continued

  

   

Hampton Roads Sanitation District Wastewater, RB, 5.000%, 04/01/23

     1,060,000         1,148,489   

Hampton Roads Sanitation District Wastewater, RB, 5.000%, 04/01/24

     2,425,000         2,627,439   

Hampton Roads Sanitation District Wastewater, Series A, RB, 5.000%, 08/01/30

     1,860,000         2,338,969   

Hanover County Economic Development Authority, Regional Medical Care Project, RB, 6.375%, 08/15/18, NATL-RE

     2,645,000         2,776,007   

Isle County Wight, Series A, GO, 5.000%, 07/01/35, State Aid Withholding

     750,000         885,292   

James City County Economic Development Authority, Public Facility Project, RB, 5.000%, 06/15/21, AGM

     2,215,000         2,330,490   

Loudoun County Industrial Development Authority, Series A, RB, 5.000%, 06/01/31

     1,000,000         1,144,170   

New Kent County Economic Development Authority, School & Governmental Projects, RB, 5.000%, 02/01/18, AGM

     1,225,000         1,269,651   

Norfolk Water Revenue, Series A, RB, 5.250%, 11/01/44

     1,750,000         2,098,705   

Northern Virginia Transportation Authority, RB, 5.000%, 06/01/26

     1,250,000         1,543,600   

Richmond Industrial Development Authority, Government Facilities, RB, 5.000%, 07/15/18, AMBAC

     1,795,000         1,912,465   

Roanoke Economic Development Authority, Hospital Revenue, RB, 5.000%, 07/01/27

     1,000,000         1,149,730   

Virginia College Building Authority, Series A, RB, 5.000%, 02/01/27

     1,500,000         1,826,745   

Virginia College Building Authority, Educational Facilities Project, Washington & Lee University, RB, 5.375%, 01/01/21

     3,390,000         3,785,409   
 

 

See Notes to Financial Statements.

 

109

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

Seix Virginia Intermediate Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Virginia—continued

  

   

Virginia College Building Authority, Educational Facilities Project, Washington & Lee University, Series B, RB, 5.000%, 09/01/26, ST INTERCEPT

     1,190,000         1,502,780   

Virginia Commonwealth Transportation Board, Series A, RB, 5.000%, 05/15/19

     1,440,000         1,621,498   

Virginia Commonwealth University, Health System Authority, RB, 5.000%, 07/01/30

     1,460,000         1,665,101   

Virginia Housing Development Authority, Commonwealth Mortgage, Series A-1, RB, 3.650%, 01/01/18, GO of Authority

     1,205,000         1,262,394   

Virginia Port Authority, Series A, AMT, RB, 5.000%, 07/01/32

     4,000,000         4,687,680   

Virginia Public Building Authority, Series A, RB, 5.000%, 08/01/31, Pre-refunded
08/01/2021 @ 100

     10,000         11,976   

Virginia Public School Authority, Series A, RB, 5.000%, 08/01/27, State Aid Withholding

     2,060,000         2,494,660   

Virginia Public School Authority, School Financing, RB, 5.000%, 07/15/26, State Aid Withholding

     2,000,000         2,188,980   

Virginia Resources Authority, Series A, RB, 5.000%, 11/01/32

     300,000         360,996   

Virginia Resources Authority Infrastructure, Pooled Financing Program, Series A, RB, 5.000%, 11/01/28

     2,300,000         2,805,218   
    

 

 

  
       58,580,084   
    

 

 

  

Total Municipal Bonds
(Cost $62,165,057)

   

      65,834,925   
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Funds 2.0%

  

   

Federated Tax-Free Obligations Fund, Institutional Shares, 0.14%(b)

     23         23   

Federated Virginia Municipal Cash Trust, Institutional Share, 0.01%(b)

     1,373,933         1,373,933   
    

 

 

  

Total Money Market Funds
(Cost $1,373,956)

   

      1,373,956   
    

 

 

  

Total Investments
(Cost $63,539,013) — 97.4%

        67,208,881   

Other Assets in Excess of Liabilities — 2.6%

        1,808,752   
    

 

 

  

Net Assets — 100.0%

      $ 69,017,633   
    

 

 

  

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2016.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2016.

Investment Abbreviations

 

AGM   —   Security guaranteed by Assured Guaranty Municipal Corporation
AMBAC   —   Security guaranteed by American Municipal Bond Assurance Corporation
AMT   —   Income subject to Alternative Minimum Tax
BHAC   —   Security guaranteed by Berkshire Hathaway Assurance Corporation
GO   —   General Obligation
NATL-RE   —   Reinsurance provided by National Public Finance Guarantee Corporation
RB   —   Revenue Bond
ST INTERCEPT   —   State Interception
 

 

See Notes to Financial Statements.

 

110

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Seix Core Bond
Fund		     Seix Corporate
Bond Fund		     Seix Floating Rate
High Income Fund		     Seix Georgia
Tax-Exempt
Bond Fund		     Seix High Grade
Municipal Bond
Fund		  

Assets:

           

Total Investments, at Cost

      $281,267,222        $17,903,087        $4,709,385,305        $103,135,940        $111,739,766   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $284,188,930        $17,999,304        $4,371,040,660        $110,323,036        $116,892,373   

Cash

      —        —        5,013        —        —   

Interest Receivable

      1,295,340        164,492        27,332,385        1,402,563        1,091,112   

Securities Lending Income Receivable

      28,156        771        —        —        —   

Receivable for Capital Shares Issued

      106,487        3,493        3,557,375        109,109        319,680   

Receivable for Investment Securities Sold

      493,900        250,352        108,337,812        —        1,210,541   

Receivable for Investment Securities Sold on a When-issued Basis

      —        —        3,012,300        —        —   

Receivable from Investment Adviser

      —        3,425        —        4,076        6,065   

Prepaid Expenses and Other Assets

      32,076        22,047        108,515        8,586        14,818   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      286,144,889        18,443,884        4,513,394,060        111,847,370        119,534,589   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

           

Payable for Investment Securities Purchased

      853,880        —        —        —        —   

Payable for Investment Securities Purchased on a When-issued Basis

      2,758,364        374,363        116,840,585        —        5,469,415   

Payable for Capital Shares Redeemed

      359,714        28,554        22,210,914        450,075        137,080   

Payable Upon Return of Securities Loaned

      12,791,803        471,458        —        —        —   

Income Distributions Payable

      42,568        1,021        4,285,641        5,293        47,821   

Investment Advisory Fees Payable

      56,596        5,812        1,532,274        47,229        47,871   

Compliance and Fund Services Fees Payable

      5,851        377        96,139        2,438        2,481   

Distribution and Service Fees Payable

      3,590        6,895        83,072        456        1,763   

Trustee Fees Payable

      11        1        194        5        5   

Other Accrued Expenses

      109,657        7,093        1,604,356        29,992        29,015   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      16,982,034        895,574        146,653,175        535,488        5,735,451   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $269,162,855        $17,548,310        $4,366,740,885        $111,311,882        $113,799,138   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

           

Capital

      $265,622,759        $17,812,408        $4,917,797,459        $103,427,653        $107,072,008   

Accumulated Net Investment Income (Loss)

      (328,472 )      (39,531 )      4,095,610        190,525        (7,042 ) 

Accumulated Net Realized Gain (Loss) from Investments, Unfunded Commitments, Swaps and Foreign Currency Transactions

      946,860        (320,784 )      (216,807,539 )      506,608        1,581,565   

Net Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies

      2,921,708        96,217        (338,344,645 )      7,187,096        5,152,607   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $269,162,855        $17,548,310        $4,366,740,885        $111,311,882        $113,799,138   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

I Shares

      $255,522,418        $8,943,244        $3,040,875,463        $107,690,606        $99,803,316   

A Shares

      10,169,782        500,131        143,324,813        3,621,276        13,995,822   

C Shares

      —        8,104,935        55,203,462        —        —   

R Shares

      3,448,263        —        —        —        —   

IS Shares

      22,392        —        1,127,337,147        —        —   

Shares Outstanding (unlimited number of shares authorized, no par value)

           

I Shares

      23,522,489        1,056,688        365,069,560        9,826,583        8,075,586   

A Shares

      936,429        58,847        17,204,927        329,936        1,132,023   

C Shares

      —        957,920        6,625,165        —        —   

R Shares

      317,196        —        —        —        —   

IS Shares

      2,062        —        135,275,384        —        —   

Net Asset Value and Redemption Price Per Share:

           

I Shares

      $10.86        $8.46        $8.33        $10.96        $12.36   

A Shares

      10.86        8.50        8.33        10.98        12.36   

C Shares(a)

      —        8.46        8.33        —        —   

R Shares

      10.87        —        —        —        —   

IS Shares

      10.86        —        8.33        —        —   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

           

A Shares

      $11.40        $8.92        $8.54        $11.53        $12.98   

Maximum Sales Charge — A Shares

      4.75 %      4.75 %      2.50 %      4.75 %      4.75 % 

 

* Investments include securities on loan of $12,492,396, $452,997, $—, $— and $—, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

111

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STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Seix High
Income Fund		     Seix High
Yield Fund		     Seix Investment
Grade Tax-
Exempt
Bond Fund		     Seix Limited
Duration Fund		     Seix North
Carolina Tax-
Exempt
Bond Fund		  

Assets:

           

Total Investments, at Cost

      $709,217,170        $604,642,924        $625,501,846        $6,636,488        $27,117,160   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $657,923,415        $575,599,309        $659,205,292        $6,647,489        $28,899,306   

Cash

      35,953        —        —        —        —   

Interest Receivable

      12,637,495        9,936,956        6,527,913        2,035        387,819   

Securities Lending Income Receivable

      52,258        35,353        —        —        —   

Receivable for Capital Shares Issued

      334,425        694,537        419,202        —        789   

Receivable for Investment Securities Sold

      2,288,951        380,105        17,488,039        —        1,167,216   

Receivable for Investment Securities Sold on a When-issued Basis

      891,973        780,851        1,546,740        —        —   

Receivable from Investment Adviser

      —        —        26,834        1,081        2,564   

Prepaid Expenses and Other Assets

      32,269        38,337        25,278        4,135        7,931   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      674,196,739        587,465,448        685,239,298        6,654,740        30,465,625   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

           

Payable for Investment Securities Purchased

      609,325        2,861,420        8,180,933        —        —   

Payable for Investment Securities Purchased on a When-issued Basis

      3,153,000        3,339,875        21,301,637        —        1,323,688   

Payable for Capital Shares Redeemed

      2,022,657        1,155,609        835,096        —        48,186   

Payable Upon Return of Securities Loaned

      61,871,816        46,697,565        —        —        —   

Income Distributions Payable

      98,442        774,985        133,517        2,682        1,990   

Line of Credit Payable

      —        1,044,906        —        —        —   

Investment Advisory Fees Payable

      278,956        200,280        271,080        563        12,167   

Compliance and Fund Services Fees Payable

      13,488        11,593        14,149        146        628   

Distribution and Service Fees Payable

      17,431        1,765        6,316        —        62   

Trustee Fees Payable

      25        22        28        —        1   

Other Accrued Expenses

      213,402        135,352        200,869        2,783        10,772   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      68,278,542        56,223,372        30,943,625        6,174        1,397,494   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $605,918,197        $531,242,076        $654,295,673        $6,648,566        $29,068,131   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

           

Capital

      $738,064,960        $625,665,314        $614,851,410        $7,466,031        $27,179,342   

Accumulated Net Investment Income (Loss)

      (411,451 )      (1,279,544 )      (228,333 )      (772 )      (57,474 ) 

Accumulated Net Realized Gain (Loss) from Investments and Swaps Transactions

      (80,441,557 )      (64,100,079 )      5,969,150        (827,694 )      164,117   

Net Unrealized Appreciation (Depreciation) on Investments and Swaps

      (51,293,755 )      (29,043,615 )      33,703,446        11,001        1,782,146   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $605,918,197        $531,242,076        $654,295,673        $6,648,566        $29,068,131   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

I Shares

      $546,793,012        $523,206,423        $629,434,612        $6,648,566        $28,576,475   

A Shares

      43,433,305        7,463,012        24,861,061        —        491,656   

R Shares

      14,574,391        572,641        —        —        —   

IS Shares

      1,117,489        —        —        —        —   

Shares Outstanding (unlimited number of shares authorized, no par value)

           

I Shares

      92,393,166        67,036,289        51,500,876        676,440        2,714,697   

A Shares

      7,333,069        980,587        2,031,704        —        46,816   

R Shares

      2,461,084        73,418        —        —        —   

IS Shares

      188,769        —        —        —        —   

Net Asset Value and Redemption Price Per Share:

           

I Shares

      $5.92        $7.80        $12.22        $9.83        $10.53   

A Shares

      5.92        7.61        12.24        —        10.50   

R Shares

      5.92        7.80        —        —        —   

IS Shares

      5.92        —        —        —        —   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

           

A Shares

      $6.22        $7.99        $12.85        $—        $11.02   

Maximum Sales Charge — A Shares

      4.75 %      4.75 %      4.75 %      —        4.75 % 

 

* Investments include securities on loan of $61,452,599, $46,040,107, $-, $- and $-, respectively.

 

See Notes to Financial Statements.

 

112

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STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Seix
Short-Term
Bond Fund		     Seix Short-Term
Municipal
Bond Fund		     Seix Total Return
Bond Fund		     Seix U.S.
Government
Securities Ultra-
Short Bond Fund		     Seix U.S.
Mortgage Fund		  

Assets:

           

Total Investments, at Cost

      $53,827,823        $40,184,141        $1,208,560,830        $1,541,778,499        $38,585,280   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $54,064,713        $40,363,071        $1,220,533,560        $1,554,424,641        $39,081,529   

Cash

      —        —        5,113,600        —        —   

Interest Receivable

      205,460        405,999        5,962,259        2,692,133        108,393   

Securities Lending Income Receivable

      —        —        106,820        —        —   

Receivable for Capital Shares Issued

      1,720        45,324        1,310,725        2,029,320        8,919   

Receivable for Investment Securities Sold

      —        —        2,261,289        4,615,624        177,277   

Unrealized Appreciation on Forward Foreign Currency Contracts

      —        —        3,646,060        —        —   

Receivable from Investment Adviser

      4,205        5,772        2,074        —        5,832   

Prepaid Expenses and Other Assets

      20,396        9,863        41,837        34,872        24,039   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      54,296,494        40,830,029        1,238,978,224        1,563,796,590        39,405,989   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

           

Payable for Investment Securities Purchased

      —        —        7,574,577        3,332,149        644,375   

Payable for Investment Securities Purchased on a When-issued Basis

      638,551        1,175,250        11,359,674        —        1,420,838   

Payable for Capital Shares Redeemed

      19,274        77,950        1,418,178        1,544,242        198,110   

Payable Upon Return of Securities Loaned

      —        —        103,422,458        —        —   

Income Distributions Payable

      4,496        7,278        27,840        135,797        537   

Unrealized Depreciation on Forward Foreign Currency Contracts

      —        —        4,445,535        —        —   

Investment Advisory Fees Payable

      18,274        11,662        225,773        236,871        12,623   

Compliance and Fund Services Fees Payable

      1,183        865        24,070        32,064        812   

Payable for Variation Margin on Futures Contracts

      —        —        —        72,453        —   

Distribution and Service Fees Payable

      1,860        932        27,985        —        5,755   

Trustee Fees Payable

      2        2        48        65        2   

Other Accrued Expenses

      18,736        17,357        392,498        543,689        17,414   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      702,376        1,291,296        128,918,636        5,897,330        2,300,466   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $53,594,118        $39,538,733        $1,110,059,588        $1,557,899,260        $37,105,523   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

           

Capital

      $54,585,488        $39,361,182        $1,098,566,966        $1,566,935,482        $36,650,006   

Accumulated Net Investment Loss

      (2,124 )      (1,437 )      (2,006,504 )      (2,617 )      (15,736 ) 

Accumulated Net Realized Gain (Loss) from Investments, Futures, Swaps and Foreign Currency Transactions

      (1,226,136 )      58        2,325,869        (21,633,688 )      (24,996 ) 

Net Unrealized Appreciation on Investments, Futures, Swaps and Foreign Currencies

      236,890        178,930        11,173,257        12,600,083        496,249   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $53,594,118        $39,538,733        $1,110,059,588        $1,557,899,260        $37,105,523   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

I Shares

      $49,748,525        $32,184,245        $971,158,593        $1,557,899,260        $25,067,724   

A Shares

      2,104,032        7,354,488        32,365,962        —        6,559,921   

C Shares

      1,741,561        —        —        —        5,477,878   

R Shares

      —        —        50,402,070        —        —   

IS Shares

      —        —        56,132,963        —        —   

Shares Outstanding (unlimited number of shares authorized, no par value)

           

I Shares

      4,983,092        3,224,097        91,056,152        155,312,919        2,211,936   

A Shares

      210,240        737,033        2,936,824        —        579,907   

C Shares

      174,086        —        —        —        483,397   

R Shares

      —        —        4,724,578        —        —   

IS Shares

      —        —        5,261,574        —        —   

Net Asset Value and Redemption Price Per Share:

           

I Shares

      $9.98        $9.98        $10.67        $10.03        $11.33   

A Shares

      10.01        9.98        11.02        —        11.31   

C Shares(a)

      10.00        —        —        —        11.33   

R Shares

      —        —        10.67        —        —   

IS Shares

      —        —        10.67        —        —   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

           

A Shares

      $10.27        $10.24        $11.57        $—        $11.60   

Maximum Sales Charge — A Shares

      2.50 %      2.50 %      4.75 %      —        2.50 % 

 

* Investments include securities on loan of $-, $-, $101,018,998, $- and $-, respectively.
(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

113

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STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Seix Ultra-Short
Bond Fund		     Seix Virginia
Intermediate
Municipal
Bond Fund		  

Assets:

     

Total Investments, at Cost

      $104,425,775        $63,539,013   
  

 

 

    

 

 

  

Total Investments, at Value

      $104,586,992        $67,208,881   

Interest Receivable

      336,650        842,104   

Receivable for Capital Shares Issued

      129,110        293   

Receivable for Investment Securities Sold

      476,068        1,219,638   

Prepaid Expenses and Other Assets

      14,175        9,112   
  

 

 

    

 

 

  

Total Assets

      105,542,995        69,280,028   
  

 

 

    

 

 

  

Liabilities:

     

Payable for Investment Securities Purchased

      499,692        —   

Payable for Capital Shares Redeemed

      18,379        104,992   

Income Distributions Payable

      12,356        103,649   

Investment Advisory Fees Payable

      20,348        30,121   

Compliance and Fund Services Fees Payable

      2,444        1,506   

Payable for Variation Margin on Futures Contracts

      13,547        —   

Distribution and Service Fees Payable

      —        552   

Trustee Fees Payable

      5        3   

Other Accrued Expenses

      25,930        21,572   
  

 

 

    

 

 

  

Total Liabilities

      592,701        262,395   
  

 

 

    

 

 

  

Total Net Assets

      $104,950,294        $69,017,633   
  

 

 

    

 

 

  

Net Assets Consist of:

     

Capital

      $107,276,833        $63,981,553   

Accumulated Net Investment Income (Loss)

      (2,389 )      19,172   

Accumulated Net Realized Gain (Loss) from Investments and Futures Transactions

      (2,476,998 )      1,347,040   

Net Unrealized Appreciation on Investments and Futures

      152,848        3,669,868   
  

 

 

    

 

 

  

Net Assets

      $104,950,294        $69,017,633   
  

 

 

    

 

 

  

Net Assets:

     

I Shares

      $104,950,294        $64,652,957   

A Shares

      —        4,364,676   

Shares Outstanding (unlimited number of shares authorized, no par value)

     

I Shares

      10,573,414        6,424,488   

A Shares

      —        433,827   

Net Asset Value and Redemption Price Per Share:

     

I Shares

      $9.93        $10.06   

A Shares

      —        10.06   

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) adjusted to the nearest cent):

     

A Shares

      $—        $10.56   

Maximum Sales Charge — A Shares

      —        4.75 % 

 

See Notes to Financial Statements.

 

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STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2016

 

     Seix Core
Bond Fund		     Seix Corporate
Bond Fund		     Seix Floating
Rate High
Income Fund		     Seix Georgia
Tax-Exempt
Bond Fund		     Seix High Grade
Municipal
Bond Fund		  

Investment Income:

           

Interest Income

      $5,728,569        $793,370        $306,075,514        $4,029,526        $3,286,727   

Dividend Income

      —        —        255,594        —        —   

Net Income from Securities Lending

      57,730        1,828        —        —        —   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      5,786,299        795,198        306,331,108        4,029,526        3,286,727   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

           

Investment Advisory Fees

      629,875        88,233        23,465,997        635,725        573,994   

Administration Fees

      25,326        2,224        580,141        12,800        11,548   

Fund Accounting Fees

      24,884        2,300        590,267        13,339        12,617   

Transfer Agency Fees

      36,107        16,225        2,054,161        19,022        33,689   

Compliance & Fund Services Fees

      18,261        1,702        448,446        10,105        9,155   

Distribution and Service Fees — A Shares

      23,825        1,806        453,519        5,303        21,761   

Distribution and Service Fees — C Shares

      —        85,089        604,184        —        —   

Distribution and Service Fees — R Shares

      17,125        —        —        —        —   

Shareholder Servicing Fees — I Shares

      307,434        7,246        5,043,808        116,445        73,877   

Shareholder Servicing Fees — A Shares

      3,122        108        158,251        439        3,372   

Shareholder Servicing Fees — R Shares

      993        —        —        —        —   

Custodian Fees

      17,852        9,345        955,423        8,254        8,415   

Printing Fees

      8,279        1,857        348,395        3,302        6,506   

Registration Fees

      56,973        40,786        90,120        14,919        34,324   

Trustee Fees

      9,173        973        248,590        5,591        4,921   

Other Fees

      47,708        9,287        648,163        19,263        17,731   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      1,226,937        267,181        35,689,465        864,507        811,910   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      —        (30,054 )      —        (32,454 )      (43,026 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      1,226,937        237,127        35,689,465        832,053        768,884   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      4,559,362        558,071        270,641,643        3,197,473        2,517,843   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Unfunded Commitments, Swaps and Foreign Currencies:

           

Net Realized Gain (Loss) from:

           

Investments, Unfunded Commitments and Foreign Currency Transactions

      2,205,179        (298,035 )      (165,631,300 )      1,669,446        1,682,084   

Swap Contracts

      —        (24,948 )      —        —        —   

Net Change in Unrealized Appreciation (Depreciation) on:

           

Investments, Unfunded Commitments and Foreign Currencies

      (2,686,468 )      (721,324 )      (230,916,711 )      (736,695 )      196,585   

Swap Contracts

      —        1,656        —        —        —   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Unfunded Commitments, Swaps and Foreign Currencies

      (481,289 )      (1,042,651 )      (396,548,011 )      932,751        1,878,669   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $4,078,073        $(484,580)        $(125,906,368)        $4,130,224        $4,396,512   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

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STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2016

 

     Seix High
Income Fund		     Seix High
Yield Fund		     Seix
Investment Grade
Tax-Exempt
Bond Fund		     Seix
Limited
Duration Fund		     Seix
North Carolina
Tax-Exempt
Bond Fund		  

Investment Income:

           

Interest Income

      $51,746,684        $40,233,693        $19,457,318        $42,739        $988,780   

Dividend Income

      706,588        57,599        —        —        —   

Net Income from Securities Lending

      635,442        375,768        —        —        —   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      53,088,714        40,667,060        19,457,318        42,739        988,780   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

           

Investment Advisory Fees

      4,029,645        2,862,692        3,238,901        6,647        167,104   

Administration Fees

      75,040        64,797        65,959        670        3,365   

Fund Accounting Fees

      77,454        64,720        69,253        701        3,447   

Transfer Agency Fees

      149,611        197,169        165,412        1,414        7,119   

Compliance & Fund Services Fees

      59,077        50,079        52,047        530        2,677   

Distribution and Service Fees — A Shares

      164,836        19,352        81,639        —        900   

Distribution and Service Fees — R Shares

      87,348        3,202        —        —        —   

Shareholder Servicing Fees — I Shares

      1,022,325        493,838        677,451        —        29,309   

Shareholder Servicing Fees — A Shares

      52,467        3,541        14,035        —        107   

Shareholder Servicing Fees — R Shares

      16,453        —        —        —        —   

Custodian Fees

      28,782        19,931        13,853        5,350        6,634   

Printing Fees

      109,306        38,134        28,224        642        1,095   

Registration Fees

      66,360        54,762        36,046        7,676        12,885   

Trustee Fees

      31,816        27,345        27,977        283        1,488   

Other Fees

      85,768        76,422        73,182        7,203        9,921   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      6,056,288        3,975,984        4,543,979        31,116        246,051   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      —        —        (230,521 )      (7,767 )      (27,322 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      6,056,288        3,975,984        4,313,458        23,349        218,729   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      47,032,426        36,691,076        15,143,860        19,390        770,051   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Swaps:

           

Net Realized Gain (Loss) from:

           

Investment Transactions

      (58,364,351 )      (43,751,931 )      5,969,610        (658 )      555,848   

Swap Contracts

      290,557        421,799        —        —        —   

Net Change in Unrealized Depreciation on:

           

Investments

      (37,995,417 )      (31,692,945 )      (2,477,315 )      (2,502 )      (368,882 ) 

Swap Contracts

      (224,551 )      (367,750 )      —        —        —   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Swaps

      (96,293,762 )      (75,390,827 )      3,492,295        (3,160 )      186,966   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $(49,261,336)        $(38,699,751)        $18,636,155        $16,230        $957,017   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

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STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2016

 

     Seix
Short-Term
Bond Fund		     Seix
Short-Term
Municipal
Bond Fund		     Seix
Total Return
Bond Fund		     Seix U.S.
Government
Securities
Ultra-Short
Bond Fund		     Seix U.S.
Mortgage
Fund		  

Investment Income:

           

Interest Income

    $ 637,060      $ 390,315      $ 25,572,663      $ 15,668,573      $ 467,776   

Net Income from Securities Lending

      —        —        276,577        —        —   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      637,060        390,315        25,849,240        15,668,573        467,776   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

           

Investment Advisory Fees

      215,055        149,091        2,747,820        3,029,253        114,410   

Administration Fees

      5,409        4,286        114,491        160,974        2,757   

Fund Accounting Fees

      6,411        4,546        121,657        167,669        3,003   

Transfer Agency Fees

      11,784        14,555        105,417        182,432        15,135   

Compliance & Fund Services Fees

      4,310        3,339        90,465        126,604        2,129   

Distribution and Service Fees — A Shares

      4,408        7,944        92,399        —        11,629   

Distribution and Service Fees — C Shares

      16,208        —        —        —        50,842   

Distribution and Service Fees — R Shares

      —        —        280,219        —        —   

Shareholder Servicing Fees — I Shares

      50,067        33,019        1,367,901        2,471,321        21,919   

Shareholder Servicing Fees — A Shares

      748        1,727        52,955        —        5,991   

Shareholder Servicing Fees — R Shares

      —        —        137,909        —        —   

Custodian Fees

      8,186        7,063        36,983        29,607        10,697   

Printing Fees

      2,718        2,536        103,419        113,036        2,292   

Registration Fees

      42,198        30,096        63,178        39,854        43,272   

Trustee Fees

      2,333        1,848        48,916        69,741        1,015   

Other Fees

      12,297        10,900        130,493        168,027        12,613   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      382,132        270,950        5,494,222        6,558,518        297,704   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (43,104 )      (46,670 )      (2,074 )      —        (44,867 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      339,028        224,280        5,492,148        6,558,518        252,837   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      298,032        166,035        20,357,092        9,110,055        214,939   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Futures, Swaps and Foreign Currencies:

           

Net Realized Gain (Loss) from:

           

Investment and Foreign Currency Transactions

      38,645        130        5,811,666        897,215        255,310   

Futures Contracts

      —        —        —        (1,463,126 )      —   

Swap Contracts

      —        —        (87,731 )      —        —   

Forward Foreign Currency Contracts

      —        —        1,867,571        —        —   

Net Change in Unrealized Appreciation (Depreciation) on:

           

Investments and Foreign Currencies

      40,850        20,433        (13,041,312 )      (10,546,528 )      181,370   

Futures Contracts

      —        —        —        479,018        —   

Swap Contracts

      —        —        50,260        —        —   

Forward Foreign Currency Contracts

      —        —        (1,351,317 )      —        —   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Futures, Swaps and Foreign Currencies

      79,495        20,563        (6,750,863 )      (10,633,421 )      436,680   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

    $ 377,527      $ 186,598      $ 13,606,229      $ (1,523,366 )    $ 651,619   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

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STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2016

 

     Seix
Ultra-Short
Bond Fund		     Seix Virginia
Intermediate
Municipal
Bond Fund		  

Investment Income:

     

Interest Income

      $1,305,834        $3,075,079   
  

 

 

    

 

 

  

Total Investment Income

      1,305,834        3,075,079   
  

 

 

    

 

 

  

Expenses:

     

Investment Advisory Fees

      248,510        507,743   

Administration Fees

      11,371        10,236   

Fund Accounting Fees

      11,829        10,641   

Transfer Agency Fees

      35,778        19,318   

Compliance & Fund Services Fees

      9,072        7,993   

Distribution and Service Fees — A Shares

      —        7,101   

Shareholder Servicing Fees — I Shares

      59,465        82,342   

Shareholder Servicing Fees — A Shares

      —        521   

Custodian Fees

      11,284        8,049   

Printing Fees

      4,309        2,202   

Registration Fees

      21,017        18,519   

Trustee Fees

      4,851        4,559   

Other Fees

      17,284        16,400   
  

 

 

    

 

 

  

Total Expenses

      434,770        695,624   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      —        (28,628 ) 
  

 

 

    

 

 

  

Net Expenses

      434,770        666,996   
  

 

 

    

 

 

  

Net Investment Income

      871,064        2,408,083   
  

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Futures:

     

Net Realized Gain (Loss) from:

     

Investment Transactions

      (19,782 )      2,374,971   

Futures Contracts

      (220,838 )      —   

Net Change in Unrealized Appreciation (Depreciation) on:

     

Investments

      (262,722 )      (1,983,765 ) 

Futures Contracts

      37,451        —   
  

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Futures

      (465,891 )      391,206   
  

 

 

    

 

 

  

Change in Net Assets from Operations

      $405,173        $2,799,289   
  

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

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STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Seix Core Bond Fund     Seix Corporate Bond Fund     Seix Floating Rate High Income Fund  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income

   $ 4,559,362      $ 3,940,354      $ 558,071      $ 963,462      $ 270,641,643      $ 328,336,131   

Net Realized Gain (Loss)

     2,205,179        5,407,610        (322,983 )      1,209,494        (165,631,300 )      (10,116,412 ) 

Net Change in Unrealized Appreciation (Depreciation)

     (2,686,468 )      2,544,019        (719,668 )      21,209        (230,916,711 )      (173,529,364 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     4,078,073        11,891,983        (484,580 )      2,194,165        (125,906,368 )      144,690,355   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (4,785,178 )      (4,024,505 )      (354,519 )      (745,708 )      (206,044,061 )      (319,113,755 ) 

A Shares

     (165,495 )      (153,575 )      (15,352 )      (22,880 )      (6,594,772 )      (7,712,075 ) 

C Shares

     —        —        (159,856 )      (194,180 )      (2,272,834 )      (2,637,461 ) 

R Shares

     (54,464 )      (63,070 )      —        —        —        —   

IS Shares*

     (272 )      —        —        —        (52,282,087 )      (58,635 ) 

Tax Return of Capital:

            

I Shares

     —        —        (15,032 )      —        —        —   

A Shares

     —        —        (698 )      —        —        —   

C Shares

     —        —        (9,948 )      —        —        —   

Net Realized Gains:

            

I Shares

     (1,672,598 )      —        (208,083 )      (450,254 )      —        —   

A Shares

     (65,096 )      —        (10,866 )      (15,424 )      —        —   

C Shares

     —        —        (193,921 )      (179,318 )      —        —   

R Shares

     (28,138 )      —        —        —        —        —   

IS Shares*

     (54 )      —        —        —        —        —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (6,771,295 )      (4,241,150 )      (968,275 )      (1,607,764 )      (267,193,754 )      (329,521,926 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     69,050,058        (19,178,943 )      (15,267,803 )      (5,503,208 )      (1,513,564,786 )      (2,802,560,007 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     66,356,836        (11,528,110 )      (16,720,658 )      (4,916,807 )      (1,906,664,908 )      (2,987,391,578 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Period

     202,806,019        214,334,129        34,268,968        39,185,775        6,273,405,793        9,260,797,371   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

   $ 269,162,855      $ 202,806,019      $ 17,548,310      $ 34,268,968      $ 4,366,740,885      $ 6,273,405,793   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Period

   $ (328,472 )    $ (340,461 )    $ (39,531 )    $ (64,835 )    $ 4,095,610      $ 511,077   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 3, 2015 for Seix Core Bond Fund and February 2, 2015 for Seix Floating Rate High Income Fund.

 

See Notes to Financial Statements.

 

119

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

     Seix Georgia Tax-Exempt Bond Fund     Seix High Grade Municipal
Bond Fund		     Seix High Income Fund  
     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

             

Net Investment Income

    $ 3,197,473      $ 3,369,667      $ 2,517,843      $ 2,142,287      $ 47,032,426      $ 51,106,250   

Net Realized Gain (Loss)

      1,669,446        2,134,836        1,682,084        2,385,295        (58,073,794 )      (9,175,361 ) 

Net Change in Unrealized Appreciation (Depreciation)

      (736,695 )      3,204,295        196,585        1,292,519        (38,219,968 )      (40,095,151 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      4,130,224        8,708,798        4,396,512        5,820,101        (49,261,336 )      1,835,738   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

             

Net Investment Income:

             

I Shares

      (3,111,493 )      (3,271,526 )      (2,217,002 )      (1,802,016 )      (42,544,235 )      (44,865,842 ) 

A Shares

      (85,979 )      (98,214 )      (300,812 )      (340,203 )      (3,358,446 )      (5,308,612 ) 

R Shares

      —        —        —        —        (1,038,413 )      (1,140,516 ) 

IS Shares*

      —        —        —        —        (286,022 )      (203,040 ) 

Net Realized Gains:

             

I Shares

      —        —        (990,891 )      (1,021,985 )      —        (22,443,420 ) 

A Shares

      —        —        (140,501 )      (188,454 )      —        (2,009,392 ) 

R Shares

      —        —        —        —        —        (657,683 ) 

IS Shares*

      —        —        —        —        —        (166,118 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

      (3,197,472 )      (3,369,740 )      (3,649,206 )      (3,352,658 )      (47,227,116 )      (76,794,623 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

      (25,139,236 )      5,205,351        792,328        53,088,287        (140,908,042 )      (44,475,816 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

      (24,206,484 )      10,544,409        1,539,634        55,555,730        (237,396,494 )      (119,434,701 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

             

Beginning of Period

      135,518,366        124,973,957        112,259,504        56,703,774        843,314,691        962,749,392   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

    $ 111,311,882      $ 135,518,366      $ 113,799,138      $ 112,259,504      $ 605,918,197      $ 843,314,691   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Period

    $ 190,525      $ 190,524      $ (7,042 )    $ (7,071 )    $ (411,451 )    $ (367,341 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 1, 2014.

 

See Notes to Financial Statements.

 

120

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Seix High Yield Fund     Seix Investment Grade
Tax-Exempt Bond Fund		     Seix Limited Duration Fund  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income

   $ 36,691,076      $ 50,221,962      $ 15,143,860      $ 16,915,643      $ 19,390      $ 13,703   

Net Realized Gain (Loss)

     (43,330,132 )      8,735,325        5,969,610        15,090,036        (658 )      (350 ) 

Net Change in Unrealized Appreciation (Depreciation)

     (32,060,695 )      (49,591,809 )      (2,477,315 )      2,178,271        (2,502 )      (1,950 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     (38,699,751 )      9,365,478        18,636,155        34,183,950        16,230        11,403   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (36,915,937 )      (49,018,736 )      (14,552,251 )      (16,227,546 )      (17,332 )      (11,822 ) 

A Shares

     (432,905 )      (1,686,559 )      (591,504 )      (688,148 )      —        —   

R Shares

     (34,562 )      (55,575 )      —        —        —        —   

Net Realized Gains:

            

I Shares

     —        (63,887,145 )      (7,129,553 )      (8,172,201 )      —        —   

A Shares

     —        (626,273 )      (294,359 )      (354,453 )      —        —   

R Shares

     —        (79,485 )      —        —        —        —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (37,383,404 )      (115,353,773 )      (22,567,667 )      (25,442,348 )      (17,332 )      (11,822 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (96,627,566 )      (472,362,184 )      (29,063,575 )      4,621,212        —        —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (172,710,721 )      (578,350,479 )      (32,995,087 )      13,362,814        (1,102 )      (419 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Period

     703,952,797        1,282,303,276        687,290,760        673,927,946        6,649,668        6,650,087   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

   $ 531,242,076      $ 703,952,797      $ 654,295,673      $ 687,290,760      $ 6,648,566      $ 6,649,668   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Period

   $ (1,279,544 )    $ (1,258,535 )    $ (228,333 )    $ (228,438 )    $ (772 )    $ (715 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

121

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Seix North Carolina Tax-Exempt
Bond Fund		     Seix Short-Term Bond Fund     Seix Short-Term Municipal
Bond Fund		  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income

   $ 770,051      $ 881,151      $ 298,032      $ 238,274      $ 166,035      $ 162,464   

Net Realized Gain

     555,848        736,445        38,645        240,074        130        210,677   

Net Change in Unrealized Appreciation (Depreciation)

     (368,882 )      831,457        40,850        (101,238 )      20,433        93,039   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     957,017        2,449,053        377,527        377,110        186,598        466,180   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (757,161 )      (863,258 )      (339,902 )      (259,957 )      (153,305 )      (149,835 ) 

A Shares

     (12,890 )      (17,921 )      (10,552 )      (10,802 )      (12,722 )      (12,625 ) 

C Shares

     —        —        —        (76 )      —        —   

Net Realized Gains:

            

I Shares

     (159,925 )      —        —        —        (72,254 )      (260,009 ) 

A Shares

     (2,916 )      —        —        —        (13,070 )      (31,379 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (932,892 )      (881,179 )      (350,454 )      (270,835 )      (251,351 )      (453,848 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (8,940,946 )      (1,754,966 )      (1,168,383 )      11,582,335        (2,929,472 )      5,768,419   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (8,916,821 )      (187,092 )      (1,141,310 )      11,688,610        (2,994,225 )      5,780,751   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Period

     37,984,952        38,172,044        54,735,428        43,046,818        42,532,958        36,752,207   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

   $ 29,068,131      $ 37,984,952      $ 53,594,118      $ 54,735,428      $ 39,538,733      $ 42,532,958   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Loss, End of Period

   $ (57,474 )    $ (63,143 )    $ (2,124 )    $ (1,569 )    $ (1,437 )    $ (1,445 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

122

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Seix Total Return Bond Fund     Seix U.S. Government Securities
Ultra-Short Bond Fund		     Seix U.S. Mortgage Fund  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

            

Net Investment Income

   $ 20,357,092      $ 22,666,079      $ 9,110,055      $ 9,706,534      $ 214,939      $ 140,771   

Net Realized Gain (Loss)

     7,591,506        21,763,347        (565,911 )      7,988,412        255,310        217,709   

Net Change in Unrealized Appreciation (Depreciation)

     (14,342,369 )      12,963,935        (10,067,510 )      (3,881,129 )      181,370        244,661   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     13,606,229        57,393,361        (1,523,366 )      13,813,817        651,619        603,141   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (19,336,958 )      (21,115,553 )      (12,422,092 )      (13,488,002 )      (291,602 )      (77,129 ) 

A Shares

     (635,699 )      (830,587 )      —        —        (89,133 )      (59,757 ) 

C Shares

     —        —        —        —        (39,997 )      (54,737 ) 

R Shares

     (769,627 )      (1,171,743 )      —        —        —        —   

IS Shares*

     (1,476,134 )      (1,094,613 )      —        —        —        —   

Net Realized Gains:

            

I Shares

     (1,023,082 )      —        —        —        —        —   

A Shares

     (34,543 )      —        —        —        —        —   

R Shares

     (55,720 )      —        —        —        —        —   

IS Shares*

     (72,019 )      —        —        —        —        —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (23,403,782 )      (24,212,496 )      (12,422,092 )      (13,488,002 )      (420,732 )      (191,623 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (31,719,301 )      (17,395,124 )      (94,042,939 )      (327,653,113 )      24,033,593        2,236,092   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (41,516,854 )      15,785,741        (107,988,397 )      (327,327,298 )      24,264,480        2,647,610   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Period

     1,151,576,442        1,135,790,701        1,665,887,657        1,993,214,955        12,841,043        10,193,433   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

   $ 1,110,059,588      $ 1,151,576,442      $ 1,557,899,260      $ 1,665,887,657      $ 37,105,523      $ 12,841,043   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Loss, End of Period

   $ (2,006,504 )    $ (3,037,962 )    $ (2,617 )    $ (517 )    $ (15,736 )    $ (15,691 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 1, 2014.

 

See Notes to Financial Statements.

 

123

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS  (concluded)

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Seix Ultra-Short Bond Fund     Seix Virginia Intermediate
Municipal Bond Fund		  
    04/01/15-
03/31/16		     04/01/14-
03/31/15		     04/01/15-
03/31/16		     04/01/14-
03/31/15		  

Operations:

        

Net Investment Income

   $ 871,064      $ 819,017      $ 2,408,083      $ 3,007,076   

Net Realized Gain (Loss)

     (240,620 )      (29,150 )      2,374,971        2,395,690   

Net Change in Unrealized Appreciation (Depreciation)

     (225,271 )      (2,958 )      (1,983,765 )      198,008   
 

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     405,173        786,909        2,799,289        5,600,774   
 

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

        

Net Investment Income:

        

I Shares

     (924,985 )      (932,817 )      (2,299,604 )      (2,866,071 ) 

A Shares

     —        —        (108,482 )      (141,063 ) 

Net Realized Gains:

        

I Shares

     —        —        (1,946,468 )      (973,740 ) 

A Shares

     —        —        (115,930 )      (44,134 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (924,985 )      (932,817 )      (4,470,484 )      (4,025,008 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (37,209,500 )      20,772,412        (53,566,152 )      (5,588,926 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (37,729,312 )      20,626,504        (55,237,347 )      (4,013,160 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

        

Beginning of Period

     142,679,606        122,053,102        124,254,980        128,268,140   
 

 

 

    

 

 

    

 

 

    

 

 

  

End of Period

   $ 104,950,294      $ 142,679,606      $ 69,017,633      $ 124,254,980   
 

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Period

   $ (2,389 )    $ (2,391 )    $ 19,172      $ 19,175   
 

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

124

Table of Contents

Financial Highlights

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Seix Core Bond Fund

  

                            

I Shares

                              

Year Ended March 31, 2016

     $11.04        $0.20        $(0.08 )      $0.12        $(0.21 )      $—        $(0.09 )      $(0.30 )      $10.86        $255,522        1.18 %      0.48 %      0.48 %      1.82 %      232 % 

Year Ended March 31, 2015

     10.65        0.21        0.40        0.61        (0.22 )      —        —        (0.22 )      11.04        191,905        5.80        0.45        0.45        1.90        168   

Year Ended March 31, 2014

     11.16        0.18        (0.23 )      (0.05 )      (0.22 )      —        (0.24 )      (0.46 )      10.65        200,371        (0.38 )      0.42        0.42        1.67        208   

Year Ended March 31, 2013

     11.10        0.15        0.24        0.39        (0.20 )      —        (0.13 )      (0.33 )      11.16        370,455        3.53        0.38        0.38        1.33        151   

Year Ended March 31, 2012

     11.00        0.24        0.81        1.05        (0.27 )      —        (0.68 )      (0.95 )      11.10        439,017        9.65        0.48        0.48        2.15        211   

A Shares

                              

Year Ended March 31, 2016

     11.04        0.18        (0.07 )      0.11        (0.20 )      —        (0.09 )      (0.29 )      10.86        10,170        1.01        0.65        0.65        1.65        232   

Year Ended March 31, 2015

     10.65        0.18        0.41        0.59        (0.20 )      —        —        (0.20 )      11.04        7,411        5.58        0.67        0.67        1.70        168   

Year Ended March 31, 2014

     11.16        0.15        (0.23 )      (0.08 )      (0.19 )      —        (0.24 )      (0.43 )      10.65        9,848        (0.66 )      0.71        0.71        1.38        208   

Year Ended March 31, 2013

     11.10        0.11        0.24        0.35        (0.16 )      —        (0.13 )      (0.29 )      11.16        20,687        3.20        0.70        0.69        1.02        151   

Year Ended March 31, 2012

     11.00        0.21        0.80        1.01        (0.23 )      —        (0.68 )      (0.91 )      11.10        21,644        9.29        0.82        0.82        1.84        211   

R Shares

                              

Year Ended March 31, 2016

     11.05        0.15        (0.07 )      0.08        (0.17 )      —        (0.09 )      (0.26 )      10.87        3,448        0.78        0.88        0.88        1.41        232   

Year Ended March 31, 2015

     10.66        0.16        0.41        0.57        (0.18 )      —        —        (0.18 )      11.05        3,490        5.37        0.85        0.85        1.51        168   

Year Ended March 31, 2014

     11.17        0.14        (0.24 )      (0.10 )      (0.17 )      —        (0.24 )      (0.41 )      10.66        4,115        (0.80 )      0.85        0.85        1.29        208   

Year Ended March 31, 2013

     11.10        0.10        0.24        0.34        (0.14 )      —        (0.13 )      (0.27 )      11.17        5,135        3.15        0.84        0.84        0.87        151   

Year Ended March 31, 2012

     11.01        0.18        0.78        0.96        (0.19 )      —        (0.68 )      (0.87 )      11.10        5,952        8.83        1.16        1.16        1.55        211   

IS Shares(e)

                              

Year Ended March 31, 2016

     10.77        0.14        0.13        0.27        (0.15 )      —        (0.03 )      (0.18 )      10.86        22        2.51        0.34        0.34        2.00        232   

Seix Corporate Bond Fund

                              

I Shares

                              

Year Ended March 31, 2016

     8.95        0.25        (0.29 )      (0.04 )      (0.24 )      (0.01 )      (0.20 )      (0.45 )      8.46        8,943        (0.29 )      0.70        0.83        2.86        84   

Year Ended March 31, 2015

     8.80        0.26        0.32        0.58        (0.26 )      —        (0.17 )      (0.43 )      8.95        24,172        6.73        0.66        0.69        2.95        90   

Year Ended March 31, 2014

     9.30        0.28        (0.21 )      0.07        (0.28 )      —        (0.29 )      (0.57 )      8.80        28,017        0.91        0.63        0.64        3.18        143   

Year Ended March 31, 2013

     9.35        0.32        0.30        0.62        (0.32 )      —        (0.35 )      (0.67 )      9.30        51,828        6.71        0.60        0.61        3.36        58   

Year Ended March 31, 2012

     9.59        0.39        0.46        0.85        (0.39 )      —        (0.70 )      (1.09 )      9.35        57,203        9.10        0.61        0.61        3.98        88   

A Shares

                              

Year Ended March 31, 2016

     8.99        0.23        (0.29 )      (0.06 )      (0.22 )      (0.01 )      (0.20 )      (0.43 )      8.50        500        (0.52 )      0.95        1.11        2.68        84   

Year Ended March 31, 2015

     8.84        0.24        0.32        0.56        (0.24 )      —        (0.17 )      (0.41 )      8.99        807        6.40        0.95        0.99        2.67        90   

Year Ended March 31, 2014

     9.35        0.25        (0.21 )      0.04        (0.26 )      —        (0.29 )      (0.55 )      8.84        783        0.52        0.92        0.93        2.76        143   

Year Ended March 31, 2013

     9.40        0.29        0.30        0.59        (0.29 )      —        (0.35 )      (0.64 )      9.35        4,020        6.39        0.88        0.88        3.06        58   

Year Ended March 31, 2012

     9.64        0.36        0.46        0.82        (0.36 )      —        (0.70 )      (1.06 )      9.40        4,325        8.78        0.88        0.88        3.68        88   

C Shares

                              

Year Ended March 31, 2016

     8.95        0.17        (0.29 )      (0.12 )      (0.16 )      (0.01 )      (0.20 )      (0.37 )      8.46        8,105        (1.22 )      1.65        1.80        2.01        84   

Year Ended March 31, 2015

     8.80        0.18        0.32        0.50        (0.18 )      —        (0.17 )      (0.35 )      8.95        9,289        5.69        1.64        1.67        1.97        90   

Year Ended March 31, 2014

     9.30        0.19        (0.21 )      (0.02 )      (0.19 )      —        (0.29 )      (0.48 )      8.80        10,385        (0.07 )      1.62        1.63        2.18        143   

Year Ended March 31, 2013

     9.35        0.23        0.30        0.53        (0.23 )      —        (0.35 )      (0.58 )      9.30        15,558        5.67        1.57        1.58        2.39        58   

Year Ended March 31, 2012

     9.59        0.29        0.46        0.75        (0.29 )      —        (0.70 )      (0.99 )      9.35        18,317        8.05        1.58        1.58        3.00        88   

Seix Floating Rate High Income Fund

  

                            

I Shares

                              

Year Ended March 31, 2016

     8.86        0.40        (0.53 )      (0.13 )      (0.40 )      —        —        (0.40 )      8.33        3,040,875        (1.50 )      0.62        0.62        4.69        33   

Year Ended March 31, 2015

     9.06        0.39        (0.20 )      0.19        (0.39 )      —        —        (0.39 )      8.86        6,048,771        2.17        0.61        0.61        4.34        29   

Year Ended March 31, 2014

     9.06        0.38        (0.01 )      0.37        (0.37 )      —        —        (0.37 )      9.06        8,965,312        4.16        0.60        0.60        4.13        47   

Year Ended March 31, 2013

     8.83        0.46        0.20        0.66        (0.43 )      —        —        (0.43 )      9.06        5,780,847        7.67        0.60        0.60        5.13        70   

Year Ended March 31, 2012

     9.01        0.50        (0.22 )      0.28        (0.46 )      —        —        (0.46 )      8.83        3,419,351        3.31        0.60        0.60        5.69        72   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

125

Table of Contents

Financial Highlights

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

A Shares

                              

Year Ended March 31, 2016

     $8.86        $0.38        $(0.54 )      $(0.16 )      $(0.37 )      $—        $—        $(0.37 )      $8.33        $143,325        (1.79 )%      0.92 %      0.92 %      4.42 %      33 % 

Year Ended March 31, 2015

     9.06        0.36        (0.19 )      0.17        (0.37 )      —        —        (0.37 )      8.86        147,560        1.88        0.91        0.91        4.06        29   

Year Ended March 31, 2014

     9.06        0.35        (0.01 )      0.34        (0.34 )      —        —        (0.34 )      9.06        212,336        3.86        0.89        0.89        3.82        47   

Year Ended March 31, 2013

     8.83        0.43        0.21        0.64        (0.41 )      —        —        (0.41 )      9.06        99,040        7.39        0.85        0.85        4.85        70   

Year Ended March 31, 2012

     9.01        0.48        (0.22 )      0.26        (0.44 )      —        —        (0.44 )      8.83        51,185        3.05        0.85        0.85        5.47        72   

C Shares

                              

Year Ended March 31, 2016

     8.86        0.33        (0.54 )      (0.21 )      (0.32 )      —        —        (0.32 )      8.33        55,203        (2.37 )      1.51        1.51        3.82        33   

Year Ended March 31, 2015

     9.07        0.31        (0.21 )      0.10        (0.31 )      —        —        (0.31 )      8.86        64,445        1.16        1.50        1.50        3.46        29   

Year Ended March 31, 2014

     9.06        0.29        0.01        0.30        (0.29 )      —        —        (0.29 )      9.07        83,149        3.33        1.51        1.51        3.21        47   

Year Ended March 31, 2013

     8.83        0.38        0.20        0.58        (0.35 )      —        —        (0.35 )      9.06        40,493        6.69        1.51        1.51        4.22        70   

Year Ended March 31, 2012

     9.02        0.42        (0.23 )      0.19        (0.38 )      —        —        (0.38 )      8.83        30,132        2.26        1.52        1.52        4.77        72   

IS Shares

                              

Year Ended March 31, 2016

     8.86        0.41        (0.53 )      (0.12 )      (0.41 )      —        —        (0.41 )      8.33        1,127,337        (1.39 )      0.51        0.51        4.83        33   

Period Ended March 31, 2015(f)

     8.74        0.07        0.12        0.19        (0.07 )      —        —        (0.07 )      8.86        12,629        2.15        0.47        0.47        5.08        29   

Seix Georgia Tax-Exempt Bond Fund

  

                            

I Shares

                              

Year Ended March 31, 2016

     10.86        0.27        0.10        0.37        (0.27 )      —        —        (0.27 )      10.96        107,691        3.50        0.65        0.68        2.52        41   

Year Ended March 31, 2015

     10.42        0.28        0.44        0.72        (0.28 )      —        —        (0.28 )      10.86        131,881        7.00        0.64        0.64        2.63        55   

Year Ended March 31, 2014

     10.78        0.31        (0.36 )      (0.05 )      (0.31 )      —        —        (0.31 )      10.42        120,835        (0.37 )      0.57        0.57        3.01        67   

Year Ended March 31, 2013

     10.55        0.34        0.23        0.57        (0.34 )      —        —        (0.34 )      10.78        148,153        5.44        0.59        0.59        3.15        50   

Year Ended March 31, 2012

     9.73        0.36        0.82        1.18        (0.36 )      —        —        (0.36 )      10.55        145,803        12.33        0.62        0.62        3.55        57   

A Shares

                              

Year Ended March 31, 2016

     10.88        0.26        0.10        0.36        (0.26 )      —        —        (0.26 )      10.98        3,621        3.40        0.75        0.75        2.43        41   

Year Ended March 31, 2015

     10.44        0.27        0.44        0.71        (0.27 )      —        —        (0.27 )      10.88        3,637        6.89        0.73        0.73        2.55        55   

Year Ended March 31, 2014

     10.80        0.30        (0.36 )      (0.06 )      (0.30 )      —        —        (0.30 )      10.44        4,139        (0.52 )      0.72        0.72        2.87        67   

Year Ended March 31, 2013

     10.57        0.32        0.23        0.55        (0.32 )      —        —        (0.32 )      10.80        4,566        5.27        0.74        0.74        2.99        50   

Year Ended March 31, 2012

     9.75        0.35        0.82        1.17        (0.35 )      —        —        (0.35 )      10.57        4,280        12.14        0.77        0.77        3.39        57   

Seix High Grade Municipal Bond Fund

  

                            

I Shares

                              

Year Ended March 31, 2016

     12.29        0.27        0.19        0.46        (0.27 )      —        (0.12 )      (0.39 )      12.36        99,803        3.85        0.65        0.69        2.21        171   

Year Ended March 31, 2015

     11.86        0.31        0.59        0.90        (0.31 )      —        (0.16 )      (0.47 )      12.29        95,761        7.64        0.65        0.69        2.53        228   

Year Ended March 31, 2014

     12.10        0.34        (0.19 )      0.15        (0.34 )      —        (0.05 )      (0.39 )      11.86        47,737        1.40        0.65        0.68        2.90        227   

Year Ended March 31, 2013

     11.96        0.34        0.50        0.84        (0.34 )      —        (0.36 )      (0.70 )      12.10        54,892        7.12        0.65        0.68        2.78        168   

Year Ended March 31, 2012

     10.92        0.38        1.07        1.45        (0.38 )      —        (0.03 )      (0.41 )      11.96        42,963        13.43        0.64        0.66        3.29        218   

A Shares

                              

Year Ended March 31, 2016

     12.29        0.25        0.19        0.44        (0.25 )      —        (0.12 )      (0.37 )      12.36        13,996        3.70        0.79        0.79        2.07        171   

Year Ended March 31, 2015

     11.86        0.29        0.59        0.88        (0.29 )      —        (0.16 )      (0.45 )      12.29        16,499        7.48        0.80        0.80        2.38        228   

Year Ended March 31, 2014

     12.11        0.32        (0.20 )      0.12        (0.32 )      —        (0.05 )      (0.37 )      11.86        8,967        1.16        0.80        0.82        2.75        227   

Year Ended March 31, 2013

     11.97        0.32        0.50        0.82        (0.32 )      —        (0.36 )      (0.68 )      12.11        11,363        6.97        0.80        0.83        2.63        168   

Year Ended March 31, 2012

     10.92        0.36        1.08        1.44        (0.36 )      —        (0.03 )      (0.39 )      11.97        8,155        13.36        0.79        0.81        3.15        218   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

126

Table of Contents

Financial Highlights

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Seix High Income Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     $6.67        $0.40        $(0.75 )      $(0.35 )      $(0.40 )      $—        $—        $(0.40 )      $5.92        $546,793        (5.31 )%      0.79 %      0.79 %      6.34 %      77 % 

Year Ended March 31, 2015

     7.26        0.40        (0.38 )      0.02        (0.40 )      —        (0.21 )      (0.61 )      6.67        753,851        0.47        0.77        0.77        5.63        86   

Year Ended March 31, 2014

     7.32        0.43        0.11        0.54        (0.44 )      —        (0.16 )      (0.60 )      7.26        783,072        7.68        0.77        0.77        6.00        110   

Year Ended March 31, 2013

     6.89        0.45        0.43        0.88        (0.45 )      —        —        (0.45 )      7.32        784,870        13.17        0.74        0.75        6.33        118   

Year Ended March 31, 2012

     7.29        0.51        (0.32 )      0.19        (0.52 )      —        (0.07 )      (0.59 )      6.89        576,626        3.04        0.71        0.71        7.37        148   

A Shares

                              

Year Ended March 31, 2016

     6.68        0.38        (0.75 )      (0.37 )      (0.39 )      —        —        (0.39 )      5.92        43,433        (5.68 )      1.03        1.03        6.08        77   

Year Ended March 31, 2015

     7.27        0.38        (0.38 )      —        (0.38 )      —        (0.21 )      (0.59 )      6.68        65,121        0.26        0.99        0.99        5.34        86   

Year Ended March 31, 2014

     7.32        0.42        0.11        0.53        (0.42 )      —        (0.16 )      (0.58 )      7.27        157,360        7.60 (g)      0.97        0.97        5.82        110   

Year Ended March 31, 2013

     6.90        0.43        0.42        0.85        (0.43 )      —        —        (0.43 )      7.32        119,006        12.72        0.99        0.99        6.09        118   

Year Ended March 31, 2012

     7.29        0.49        (0.31 )      0.18        (0.50 )      —        (0.07 )      (0.57 )      6.90        99,210        2.74        1.00        1.00        7.09        148   

R Shares

                              

Year Ended March 31, 2016

     6.68        0.37        (0.76 )      (0.39 )      (0.37 )      —        —        (0.37 )      5.92        14,574        (5.87 )      1.23        1.23        5.92        77   

Year Ended March 31, 2015

     7.27        0.37        (0.38 )      (0.01 )      (0.37 )      —        (0.21 )      (0.58 )      6.68        20,887        0.05        1.21        1.21        5.20        86   

Year Ended March 31, 2014

     7.32        0.40        0.12        0.52        (0.41 )      —        (0.16 )      (0.57 )      7.27        22,317        7.37        1.20        1.20        5.57        110   

Year Ended March 31, 2013

     6.89        0.41        0.43        0.84        (0.41 )      —        —        (0.41 )      7.32        23,956        12.61        1.23        1.23        5.85        118   

Year Ended March 31, 2012

     7.29        0.47        (0.33 )      0.14        (0.47 )      —        (0.07 )      (0.54 )      6.89        20,317        2.25        1.35        1.35        6.76        148   

IS Shares

                              

Year Ended March 31, 2016

     6.68        0.40        (0.75 )      (0.35 )      (0.41 )      —        —        (0.41 )      5.92        1,117        (5.30 )      0.63        0.63        6.27        77   

Period Ended March 31, 2015(h)

     7.22        0.28        (0.33 )      (0.05 )      (0.28 )      —        (0.21 )      (0.49 )      6.68        3,455        (0.51 )      0.63        0.63        5.99        86   

Seix High Yield Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     8.73        0.47        (0.92 )      (0.45 )      (0.48 )      —        —        (0.48 )      7.80        523,206        (5.23 )      0.61        0.61        5.71        76   

Year Ended March 31, 2015

     9.95        0.54        (0.43 )      0.11        (0.54 )      —        (0.79 )      (1.33 )      8.73        695,060        1.53        0.58        0.58        5.63        72   

Year Ended March 31, 2014

     10.26        0.58        0.06        0.64        (0.59 )      —        (0.36 )      (0.95 )      9.95        1,211,146        6.65        0.55        0.55        5.79        89   

Year Ended March 31, 2013

     9.69        0.64        0.56        1.20        (0.63 )      —        —        (0.63 )      10.26        1,792,768        12.80        0.54        0.54        6.41        79   

Year Ended March 31, 2012

     10.07        0.70        (0.38 )      0.32        (0.70 )      —        —        (0.70 )      9.69        2,123,625        3.44        0.54        0.54        7.27        83   

A Shares

                              

Year Ended March 31, 2016

     8.51        0.44        (0.89)        (0.45)        (0.45 )      —        —        (0.45 )      7.61        7,463        (5.36 )      0.84        0.84        5.48        76   

Year Ended March 31, 2015

     9.72        0.51        (0.43)        0.08        (0.50 )      —        (0.79 )      (1.29 )      8.51        8,110        1.24        0.87        0.87        5.31        72   

Year Ended March 31, 2014

     10.03        0.55        0.05        0.60        (0.55 )      —        (0.36 )      (0.91 )      9.72        69,921        6.39        0.81        0.81        5.57        89   

Year Ended March 31, 2013

     9.47        0.59        0.56        1.15        (0.59 )      —        —        (0.59 )      10.03        72,703        12.56        0.79        0.79        6.09        79   

Year Ended March 31, 2012

     9.84        0.65        (0.36)        0.29        (0.66 )      —        —        (0.66 )      9.47        38,016        3.21        0.78        0.78        6.91        83   

R Shares

                              

Year Ended March 31, 2016

     8.72        0.44        (0.91)        (0.47)        (0.45 )      —        —        (0.45 )      7.80        573        (5.52 )      1.04        1.04        5.29        76   

Year Ended March 31, 2015

     9.94        0.49        (0.42)        0.07        (0.50 )      —        (0.79 )      (1.29 )      8.72        782        1.05        1.04        1.04        5.18        72   

Year Ended March 31, 2014

     10.26        0.53        0.05        0.58        (0.54 )      —        (0.36 )      (0.90 )      9.94        1,237        6.04        1.04        1.04        5.31        89   

Year Ended March 31, 2013

     9.68        0.59        0.57        1.16        (0.58 )      —        —        (0.58 )      10.26        2,385        12.36        1.03        1.03        5.92        79   

Year Ended March 31, 2012

     10.07        0.65        (0.40)        0.25        (0.64 )      —        —        (0.64 )      9.68        2,427        2.69        1.18        1.18        6.68        83   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

127

Table of Contents

Financial Highlights

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Seix Investment Grade Tax-Exempt Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     $12.29        $0.28        $0.07        $0.35        $(0.28 )      $—        $(0.14 )      $(0.42 )      $12.22        $629,435        2.96 %      0.65 %      0.68 %      2.32 %      139 % 

Year Ended March 31, 2015

     12.13        0.31        0.32        0.63        (0.31 )      —        (0.16 )      (0.47 )      12.29        657,851        5.25        0.65        0.68        2.53        144   

Year Ended March 31, 2014

     12.45        0.28        (0.23 )      0.05        (0.28 )      —        (0.09 )      (0.37 )      12.13        643,828        0.48        0.64        0.64        2.29        104   

Year Ended March 31, 2013

     12.49        0.25        0.35        0.60        (0.25 )      —        (0.39 )      (0.64 )      12.45        982,171        4.87        0.62        0.63        1.98        151   

Year Ended March 31, 2012

     11.65        0.29        0.93        1.22        (0.29 )      —        (0.09 )      (0.38 )      12.49        950,629        10.62        0.61        0.61        2.38        199   

A Shares

                              

Year Ended March 31, 2016

     12.30        0.26        0.08        0.34        (0.26 )      —        (0.14 )      (0.40 )      12.24        24,861        2.89        0.80        0.93        2.17        139   

Year Ended March 31, 2015

     12.14        0.29        0.32        0.61        (0.29 )      —        (0.16 )      (0.45 )      12.30        29,439        5.09        0.80        0.91        2.37        144   

Year Ended March 31, 2014

     12.47        0.26        (0.24 )      0.02        (0.26 )      —        (0.09 )      (0.35 )      12.14        30,100        0.23        0.80        0.90        2.13        104   

Year Ended March 31, 2013

     12.50        0.23        0.36        0.59        (0.23 )      —        (0.39 )      (0.62 )      12.47        36,958        4.75        0.82        0.87        1.78        151   

Year Ended March 31, 2012

     11.66        0.26        0.93        1.19        (0.26 )      —        (0.09 )      (0.35 )      12.50        37,840        10.33        0.87        0.87        2.12        199   

Seix Limited Duration Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     9.83        0.03        — (i)      0.03        (0.03 )      —        —        (0.03 )      9.83        6,649        0.26        0.35        0.47        0.29        50   

Year Ended March 31, 2015

     9.83        0.02        — (i)      0.02        (0.02 )      —        —        (0.02 )      9.83        6,650        0.18        0.34        0.46        0.21        45   

Year Ended March 31, 2014

     9.83        0.03        (0.01 )      0.02        (0.02 )      —        —        (0.02 )      9.83        6,650        0.21        0.32        0.43        0.27        104   

Year Ended March 31, 2013

     9.76        0.05        0.06        0.11        (0.04 )      —        —        (0.04 )      9.83        9,357        1.08        0.30        0.33        0.50        56   

Year Ended March 31, 2012

     9.76        0.07        (0.01 )      0.06        (0.06 )      —        —        (0.06 )      9.76        16,002        0.58        0.28        0.28        0.68        58   

Seix North Carolina Tax-Exempt Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     10.49        0.24        0.11        0.35        (0.24 )      —        (0.07 )      (0.31 )      10.53        28,576        3.39        0.65        0.73        2.31        42   

Year Ended March 31, 2015

     10.06        0.25        0.43        0.68        (0.25 )      —        —        (0.25 )      10.49        37,190        6.80        0.65        0.69        2.40        51   

Year Ended March 31, 2014

     10.68        0.26        (0.31 )      (0.05 )      (0.27 )      —        (0.30 )      (0.57 )      10.06        37,311        (0.38 )      0.61        0.61        2.59        77   

Year Ended March 31, 2013

     10.47        0.30        0.21        0.51        (0.30 )      —        —        (0.30 )      10.68        50,991        4.88        0.62        0.62        2.79        79   

Year Ended March 31, 2012

     9.70        0.33        0.77        1.10        (0.33 )      —        —        (0.33 )      10.47        50,412        11.51        0.67        0.67        3.27        39   

A Shares

                              

Year Ended March 31, 2016

     10.46        0.22        0.12        0.34        (0.23 )      —        (0.07 )      (0.30 )      10.50        492        3.23        0.80        0.81        2.15        42   

Year Ended March 31, 2015

     10.04        0.23        0.42        0.65        (0.23 )      —        —        (0.23 )      10.46        795        6.56        0.79        0.79        2.27        51   

Year Ended March 31, 2014

     10.65        0.25        (0.31 )      (0.06 )      (0.25 )      —        (0.30 )      (0.55 )      10.04        861        (0.45 )      0.77        0.77        2.44        77   

Year Ended March 31, 2013

     10.45        0.28        0.20        0.48        (0.28 )      —        —        (0.28 )      10.65        910        4.63        0.77        0.77        2.60        79   

Year Ended March 31, 2012

     9.67        0.32        0.78        1.10        (0.32 )      —        —        (0.32 )      10.45        633        11.47        0.82        0.82        3.11        39   

Seix Short-Term Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     9.98        0.06        0.01        0.07        (0.07 )      —        —        (0.07 )      9.98        49,749        0.68        0.60        0.68        0.58        87   

Year Ended March 31, 2015

     9.95        0.05        0.04        0.09        (0.06 )      —        —        (0.06 )      9.98        50,689        0.93        0.60        0.67        0.52        199   

Year Ended March 31, 2014

     10.00        0.12        (0.05 )      0.07        (0.12 )      —        —        (0.12 )      9.95        38,400        0.75        0.58        0.58        1.22        79   

Year Ended March 31, 2013

     9.99        0.15        0.01        0.16        (0.15 )      —        —        (0.15 )      10.00        78,383        1.65        0.48        0.48        1.51        128   

Year Ended March 31, 2012

     9.95        0.20        0.06        0.26        (0.22 )      —        —        (0.22 )      9.99        310,854        2.60        0.48        0.48        2.00        86   

A Shares

                              

Year Ended March 31, 2016

     10.00        0.04        0.02        0.06        (0.05 )      —        —        (0.05 )      10.01        2,104        0.58        0.80        0.81        0.38        87   

Year Ended March 31, 2015

     9.98        0.04        0.02        0.06        (0.04 )      —        —        (0.04 )      10.00        2,316        0.63        0.80        0.81        0.37        199   

Year Ended March 31, 2014

     10.03        0.10        (0.05 )      0.05        (0.10 )      —        —        (0.10 )      9.98        2,748        0.54        0.78        0.80        1.00        79   

Year Ended March 31, 2013

     10.02        0.13        0.01        0.14        (0.13 )      —        —        (0.13 )      10.03        2,069        1.40        0.73        0.74        1.27        128   

Year Ended March 31, 2012

     9.98        0.17        0.06        0.23        (0.19 )      —        —        (0.19 )      10.02        2,478        2.32        0.76        0.76        1.75        86   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

128

Table of Contents

Financial Highlights

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

C Shares

                              

Year Ended March 31, 2016

     $10.00        $(0.01 )      $0.01        $—        $— (i)      $—        $—        $— (i)      $10.00        $1,742        — %      1.29 %      1.58 %      (0.10 )%      87 % 

Year Ended March 31, 2015

     9.97        (0.01 )      0.04        0.03        — (i)      —        —        — (i)      10.00        1,730        0.31        1.22        1.58        (0.06 )      199   

Year Ended March 31, 2014

     10.02        0.02        (0.04 )      (0.02 )      (0.03 )      —        —        (0.03 )      9.97        1,899        (0.24 )      1.56        1.56        0.23        79   

Year Ended March 31, 2013

     10.01        0.05        0.01        0.06        (0.05 )      —        —        (0.05 )      10.02        2,425        0.65        1.48        1.48        0.52        128   

Year Ended March 31, 2012

     9.98        0.10        0.05        0.15        (0.12 )      —        —        (0.12 )      10.01        3,009        1.48        1.48        1.48        1.01        86   

Seix Short-Term Municipal Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     10.00        0.04        — (i)      0.04        (0.04 )      —        (0.02 )      (0.06 )      9.98        32,184        0.41        0.51        0.62        0.41        82   

Year Ended March 31, 2015

     9.99        0.04        0.08        0.12        (0.04 )      —        (0.07 )      (0.11 )      10.00        38,669        1.21        0.55        0.62        0.42        148   

Year Ended March 31, 2014

     10.01        0.02        0.01        0.03        (0.02 )      —        (0.03 )      (0.05 )      9.99        30,852        0.37        0.54        0.71        0.21        260   

Year Ended March 31, 2013

     10.73        0.05        0.27        0.32        (0.06 )      —        (0.98 )      (1.04 )      10.01        11,121        3.01        0.58        0.91        0.52        199   

Year Ended March 31, 2012

     10.16        0.32        0.70        1.02        (0.31 )      —        (0.14 )      (0.45 )      10.73        5,956        10.16        0.67        0.77        3.00        27   

A Shares

                              

Year Ended March 31, 2016

     10.00        0.02        — (i)      0.02        (0.02 )      —        (0.02 )      (0.04 )      9.98        7,354        0.23        0.67        0.72        0.24        82   

Year Ended March 31, 2015

     9.99        0.03        0.08        0.11        (0.03 )      —        (0.07 )      (0.10 )      10.00        3,863        1.06        0.70        0.75        0.26        148   

Year Ended March 31, 2014

     10.01        0.01        0.01        0.02        (0.01 )      —        (0.03 )      (0.04 )      9.99        5,900        0.25        0.65        0.82        0.10        260   

Year Ended March 31, 2013

     10.73        0.04        0.26        0.30        (0.04 )      —        (0.98 )      (1.02 )      10.01        3,694        2.86        0.73        1.04        0.39        199   

Year Ended March 31, 2012

     10.16        0.29        0.71        1.00        (0.29 )      —        (0.14 )      (0.43 )      10.73        3,445        10.00        0.82        0.97        2.77        27   

Seix Total Return Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     10.75        0.19        (0.05 )      0.14        (0.21 )      —        (0.01 )      (0.22 )      10.67        971,159        1.35 (g)      0.45        0.45        1.82        181   

Year Ended March 31, 2015

     10.43        0.23        0.34        0.57        (0.25 )      —        —        (0.25 )      10.75        972,117        5.47        0.44        0.44        2.17        173   

Year Ended March 31, 2014

     10.79        0.22        (0.26 )      (0.04 )      (0.22 )      —        (0.10 )      (0.32 )      10.43        1,022,101        (0.31 )      0.41        0.41        2.12        217   

Year Ended March 31, 2013

     10.77        0.18        0.25        0.43        (0.21 )      —        (0.20 )      (0.41 )      10.79        1,204,228        4.01        0.39        0.40        1.69        139   

Year Ended March 31, 2012

     10.40        0.25        0.73        0.98        (0.36 )      —        (0.25 )      (0.61 )      10.77        996,213        9.62        0.37        0.37        2.30        170   

A Shares

                              

Year Ended March 31, 2016

     11.11        0.17        (0.06 )      0.11        (0.19 )      —        (0.01 )      (0.20 )      11.02        32,366        1.02        0.71        0.71        1.55        181   

Year Ended March 31, 2015

     10.77        0.21        0.35        0.56        (0.22 )      —        —        (0.22 )      11.11        43,401        5.28        0.71        0.71        1.90        173   

Year Ended March 31, 2014

     11.15        0.20        (0.28 )      (0.08 )      (0.20 )      —        (0.10 )      (0.30 )      10.77        41,134        (0.70 )      0.70        0.70        1.82        217   

Year Ended March 31, 2013

     11.12        0.16        0.25        0.41        (0.18 )      —        (0.20 )      (0.38 )      11.15        50,279        3.76        0.66        0.68        1.42        139   

Year Ended March 31, 2012

     10.73        0.22        0.76        0.98        (0.34 )      —        (0.25 )      (0.59 )      11.12        44,359        9.31        0.65        0.65        1.95        170   

R Shares

                              

Year Ended March 31, 2016

     10.75        0.13        (0.05 )      0.08        (0.15 )      —        (0.01 )      (0.16 )      10.67        50,402        0.74        1.06        1.06        1.21        181   

Year Ended March 31, 2015

     10.43        0.17        0.33        0.50        (0.18 )      —        —        (0.18 )      10.75        64,539        4.83        1.05        1.06        1.56        173   

Year Ended March 31, 2014

     10.80        0.16        (0.27 )      (0.11 )      (0.16 )      —        (0.10 )      (0.26 )      10.43        72,556        (1.02 )      1.03        1.07        1.52        217   

Year Ended March 31, 2013

     10.78        0.12        0.25        0.37        (0.15 )      —        (0.20 )      (0.35 )      10.80        72,697        3.34        0.96        1.05        1.11        139   

Year Ended March 31, 2012

     10.40        0.18        0.76        0.94        (0.31 )      —        (0.25 )      (0.56 )      10.78        20,315        9.15        0.90        0.90        1.63        170   

IS Shares

                              

Year Ended March 31, 2016

     10.75        0.21        (0.06 )      0.15        (0.22 )      —        (0.01 )      (0.23 )      10.67        56,133        1.49        0.31        0.31        1.95        181   

Period Ended March 31, 2015(h)

     10.56        0.16        0.20        0.36        (0.17 )      —        —        (0.17 )      10.75        71,520        3.39        0.31        0.31        2.20        173   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

129

Table of Contents

Financial Highlights

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period		     Net
Investment
Income
(Loss)(a)		     Net
Realized
and
Unrealized
Gains
(Losses) on
Investments		     Total from
Operations		     Dividends
from Net
Investment
Income		     Distributions
from Tax
Return of
Capital		     Distributions
from
Realized
Capital
Gains		     Total
Dividends
and
Distributions		     Net Asset
Value,
End of
Period		     Net Assets
End of
Period
(000)		     Total
Return(b)		     Ratio of
Net
Expenses
to Average
Net
Assets(c)		     Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Seix U.S. Government Securities Ultra-Short Bond Fund

   

                          

I Shares

                              

Year Ended March 31, 2016

     $10.12        $0.06        $(0.07 )      $(0.01 )      $(0.08 )      $—        $—        $(0.08 )      $10.03        $1,557,899        (0.11 )%      0.41 %      0.41 %      0.57 %      52 % 

Year Ended March 31, 2015

     10.12        0.06        0.02        0.08        (0.08 )      —        —        (0.08 )      10.12        1,665,888        0.77        0.39        0.39        0.55        34   

Year Ended March 31, 2014

     10.17        0.03        (0.02 )      0.01        (0.06 )      —        —        (0.06 )      10.12        1,993,215        0.13        0.38        0.38        0.31        36   

Year Ended March 31, 2013

     10.14        0.03        0.08        0.11        (0.08 )      —        —        (0.08 )      10.17        2,331,913        1.10        0.36        0.36        0.29        137   

Year Ended March 31, 2012

     10.07        0.06        0.12        0.18        (0.11 )      —        —        (0.11 )      10.14        2,033,765        1.76        0.36        0.36        0.55        70   

Seix U.S. Mortgage Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     11.32        0.12        0.09        0.21        (0.20 )      —        —        (0.20 )      11.33        25,068        1.84        0.70        0.86        1.03        223   

Year Ended March 31, 2015

     10.90        0.19        0.48        0.67        (0.25 )      —        —        (0.25 )      11.32        3,650        6.16        0.69        1.26        1.75        165   

Year Ended March 31, 2014

     11.16        0.12        (0.16 )      (0.04 )      (0.22 )      —        —        (0.22 )      10.90        3,692        (0.38 )      0.66        1.10        1.08        236   

Year Ended March 31, 2013

     11.09        0.04        0.21        0.25        (0.18 )      —        —        (0.18 )      11.16        8,851        2.26        0.66        0.85        0.37        163   

Year Ended March 31, 2012

     10.59        0.12        0.62        0.74        (0.24 )      —        —        (0.24 )      11.09        24,688        7.01        0.66        0.72        1.06        299   

A Shares

                              

Year Ended March 31, 2016

     11.29        0.08        0.11        0.19        (0.17 )      —        —        (0.17 )      11.31        6,560        1.72        0.90        1.10        0.76        223   

Year Ended March 31, 2015

     10.88        0.16        0.47        0.63        (0.22 )      —        —        (0.22 )      11.29        5,201        5.86        0.89        1.43        1.45        165   

Year Ended March 31, 2014

     11.14        0.11        (0.18 )      (0.07 )      (0.19 )      —        —        (0.19 )      10.88        1,721        (0.58 )      0.86        1.27        1.02        236   

Year Ended March 31, 2013

     11.07        0.02        0.21        0.23        (0.16 )      —        —        (0.16 )      11.14        2,271        2.06        0.86        1.05        0.15        163   

Year Ended March 31, 2012

     10.57        0.09        0.62        0.71        (0.21 )      —        —        (0.21 )      11.07        6,279        6.81        0.86        0.93        0.78        299   

C Shares

                              

Year Ended March 31, 2016

     11.32        — (i)      0.10        0.10        (0.09 )      —        —        (0.09 )      11.33        5,478        0.88        1.65        1.79        0.01        223   

Year Ended March 31, 2015

     10.90        0.09        0.47        0.56        (0.14 )      —        —        (0.14 )      11.32        3,989        5.15        1.65        2.15        0.79        165   

Year Ended March 31, 2014

     11.16        0.03        (0.18 )      (0.15 )      (0.11 )      —        —        (0.11 )      10.90        4,780        (1.36 )      1.66        2.04        0.23        236   

Year Ended March 31, 2013

     11.09        (0.07 )      0.21        0.14        (0.07 )      —        —        (0.07 )      11.16        6,039        1.25        1.66        1.84        (0.65 )      163   

Year Ended March 31, 2012

     10.59        0.01        0.62        0.63        (0.13 )      —        —        (0.13 )      11.09        7,376        5.94        1.66        1.71        0.06        299   

Seix Ultra-Short Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     9.97        0.08        (0.04 )      0.04        (0.08 )      —        —        (0.08 )      9.93        104,950        0.42        0.38        0.38        0.77        59   

Year Ended March 31, 2015

     9.98        0.06        — (i)      0.06        (0.07 )      —        —        (0.07 )      9.97        142,680        0.55        0.37        0.37        0.57        54   

Year Ended March 31, 2014

     9.98        0.07        0.01        0.08        (0.08 )      —        —        (0.08 )      9.98        122,053        0.76        0.35        0.35        0.65        134   

Year Ended March 31, 2013

     9.95        0.10        0.04        0.14        (0.11 )      —        —        (0.11 )      9.98        109,224        1.39        0.33        0.33        0.98        127   

Year Ended March 31, 2012

     9.93        0.10        0.03        0.13        (0.11 )      —        —        (0.11 )      9.95        112,617        1.34        0.34        0.34        0.99        97   

Seix Virginia Intermediate Municipal Bond Fund

  

                          

I Shares

                              

Year Ended March 31, 2016

     10.24        0.24        0.08        0.32        (0.24 )      —        (0.26 )      (0.50 )      10.06        64,653        3.30        0.65        0.68        2.38        48   

Year Ended March 31, 2015

     10.12        0.25        0.21        0.46        (0.25 )      —        (0.09 )      (0.34 )      10.24        119,103        4.54        0.65        0.65        2.42        59   

Year Ended March 31, 2014

     10.54        0.29        (0.32 )      (0.03 )      (0.29 )      —        (0.10 )      (0.39 )      10.12        120,600        (0.20 )      0.58        0.58        2.83        65   

Year Ended March 31, 2013

     10.63        0.31        0.08        0.39        (0.31 )      —        (0.17 )      (0.48 )      10.54        144,889        3.70        0.59        0.59        2.93        33   

Year Ended March 31, 2012

     10.21        0.33        0.53        0.86        (0.33 )      —        (0.11 )      (0.44 )      10.63        147,599        8.55        0.63        0.63        3.12        23   

A Shares

                              

Year Ended March 31, 2016

     10.23        0.23        0.09        0.32        (0.23 )      —        (0.26 )      (0.49 )      10.06        4,365        3.29        0.76        0.76        2.29        48   

Year Ended March 31, 2015

     10.11        0.24        0.21        0.45        (0.24 )      —        (0.09 )      (0.33 )      10.23        5,152        4.45        0.74        0.74        2.34        59   

Year Ended March 31, 2014

     10.53        0.27        (0.32 )      (0.05 )      (0.27 )      —        (0.10 )      (0.37 )      10.11        7,668        (0.35 )      0.73        0.73        2.67        65   

Year Ended March 31, 2013

     10.63        0.30        0.07        0.37        (0.30 )      —        (0.17 )      (0.47 )      10.53        10,996        3.45        0.74        0.74        2.78        33   

Year Ended March 31, 2012

     10.21        0.31        0.53        0.84        (0.31 )      —        (0.11 )      (0.42 )      10.63        12,509        8.38        0.78        0.78        2.97        23   

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

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NOTES TO FINANCIAL HIGHLIGHTS

 

 

(a) Per share data calculated using average shares outstanding method.

 

(b) Total return excludes sales charge. Not annualized for periods less than one year.

 

(c) Annualized for periods less than one year.

 

(d) Not annualized for periods less than one year.

 

(e) IS Shares commenced operations on August 3, 2015.

 

(f) IS Shares commenced operations on February 2, 2015.

 

(g) Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes, and as such, the net asset values for shareholder transactions and the returns based on those net asset values may differ from the net asset values and returns reported in the management’s discussion of Fund performance.

 

(h) IS Shares commenced operations on August 1, 2014.

 

(i) Rounds to less than $0.005 per share

 

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NOTES TO FINANCIAL STATEMENTS

 

RIDGEWORTH FUNDS    March 31, 2016

 

1. Organization

RidgeWorth Funds (the “Trust”) is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is authorized to issue an unlimited number of shares without par value. The financial statements presented herein are those of the Seix Core Bond Fund (formerly, “Core Bond Fund”), Seix Corporate Bond Fund (formerly, “Corporate Bond Fund”), Seix Floating Rate High Income Fund, Seix Georgia Tax-Exempt Bond Fund (formerly, “Georgia Tax-Exempt Bond Fund”), Seix High Grade Municipal Bond Fund (formerly, “High Grade Municipal Bond Fund”), Seix High Income Fund (formerly, “High Income Fund”), Seix High Yield Fund, Seix Investment Grade Tax-Exempt Bond Fund (formerly, “Investment Grade Tax-Exempt Bond Fund”), Seix Limited Duration Fund (formerly, “Limited Duration Fund”), Seix North Carolina Tax-Exempt Bond Fund (formerly, “North Carolina Tax-Exempt Bond Fund”), Seix Short-Term Bond Fund (formerly, “Short-Term Bond Fund”), Seix Short-Term Municipal Bond Fund (formerly, “Short-Term Municipal Bond Fund”), Seix Total Return Bond Fund (formerly, “Total Return Bond Fund”), Seix U.S. Government Securities Ultra-Short Bond Fund (formerly, “U.S. Government Securities Ultra-Short Bond Fund”), Seix U.S. Mortgage Fund (formerly, “Limited-Term Federal Mortgage Securities Fund”), Seix Ultra-Short Bond Fund (formerly, “Ultra-Short Bond Fund”) and Seix Virginia Intermediate Municipal Bond Fund (formerly, “Virginia Intermediate Municipal Bond Fund”) (each, a “Fund” and collectively, the “Funds” or “Fixed Income Funds”), which are each (except Seix North Carolina Tax-Exempt Bond Fund) a diversified series of the Trust.

The Seix Limited Duration Fund, Seix U.S. Government Securities Ultra-Short Bond Fund and Seix Ultra-Short Bond Fund offer I Shares only. The Seix Georgia Tax-Exempt Bond Fund, Seix High Grade Municipal Bond Fund, Seix Investment Grade Tax-Exempt Bond Fund, Seix North Carolina Tax-Exempt Bond Fund, Seix Short-Term Municipal Bond Fund and Seix Virginia Intermediate Bond Fund offer I Shares and A Shares. The Seix High Yield Fund offers I Shares, A Shares and R Shares. The Seix Core Bond Fund, Seix High Income Fund and Seix Total Return Bond Fund offer I Shares, A Shares, R Shares and IS Shares. The Seix Floating Rate High Income Fund offers I Shares, A Shares, C Shares and IS Shares. The remaining Funds offer I Shares, A Shares and C Shares.

The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which shares are held. Each class of shares has identical rights and privileges except with respect to the fees paid under the Distribution and Service Plan and the Shareholder Servicing Plan (“Plan”), voting rights on matters affecting a single class of shares and sales charges. The A Shares of the Funds (except Seix Floating Rate High Income Fund, Seix Short-Term Bond Fund, Seix Short-Term Municipal Bond Fund and Seix U.S. Mortgage Fund) have a maximum sales charge on purchases of 4.75% as a percentage of original purchase price. The A Shares of the Seix Floating Rate High Income Fund, Seix Short-Term Bond Fund, Seix Short-Term Municipal Bond and Seix U.S. Mortgage Fund have a maximum sales charge on purchases of 2.50% as a percentage of original purchase price. Certain purchases of A Shares will not be subject to a front-end sales charge but will be subject to a contingent deferred sales charge (“CDSC”) of 0.50%, if redeemed within two years of purchase. The deferred sale charges may be waived from time to time for certain broker-dealers that waive payment of compensation to them. The C Shares have a maximum CDSC of 1.00% as a percentage of either the original purchase price or the next calculated price after the Funds receive a redemption request, whichever is less, if shares are redeemed within one year of purchase. There is no sales charge on purchases of I, R or IS Shares.

The Trust’s officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that provide for general indemnifications. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust. However, based on experience, the Trust expects that risk of loss to be remote.

The Funds are each an investment company and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board Codification (“FASB”) Topic 946 Financial Services — Investment Companies.

 

2. Significant Accounting Policies

The following are significant accounting policies consistently followed by the Funds which are in conformity with accounting principles generally accepted in the U.S. (“GAAP”). Estimates and assumptions are required to be made

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ.

(a) Investment Valuation — Debt securities are valued at the last quoted bid price provided by independent pricing vendors approved by the Board of Trustees of the Trust (the “Board”) that are based on transactions in debt obligations, quotations from bond dealers, market transactions in comparable securities and various other relationships between securities.

The Funds, in accordance with GAAP, have adopted FASB Codification Topic 820 (“ASC Topic 820”). ASC Topic 820 establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Funds’ investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below:

 

  •   Level 1 — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities. Investments in underlying funds and money market funds are valued at their Net Asset Value (“NAV”) daily and are classified as Level 1 prices.

 

  •   Level 2 — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain asset and mortgage backed products, less liquid listed equities, and state, municipal and provincial obligations.

 

  •   Level 3 — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the Funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the Funds in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Funds in the absence of market information. Assumptions used by the Funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the Funds’ results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

The independent pricing vendor may value bank loans and debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, and/or other methodologies designed to identify the market value for such securities and such securities are considered Level 2 in the fair value hierarchy. Publicly-traded foreign government debt securities are typically traded internationally in the over-the-counter market and are valued at the bid prices as of the close of business of that market and such securities are considered Level 2 in the fair value hierarchy. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded and such securities may be considered Level 1 in the fair value hierarchy. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade and such securities may be considered Level 1 in the fair value hierarchy. Centrally cleared credit default and interest rate swaps are valued at the price determined by the relevant exchange and such securities may be considered Level 2 in the fair value hierarchy. Forward foreign exchange contracts are valued using daily forward exchange rates and such securities may be considered Level 2 in the fair value hierarchy. Short-term obligations with maturities of 60 days or less are valued at amortized cost, which approximates fair value and such securities are considered Level 2

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

in the fair value hierarchy. Under the Pricing and Valuation Procedures, such securities may be considered Level 2 or Level 3 in the fair value hierarchy.

When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before each Fund calculates its NAV, each of the Funds will value the security as determined in accordance with the Pricing and Valuation Procedures approved by the Board. The Pricing and Valuation Procedures are performed and monitored by a Valuation Committee (the “Committee”) designated by the Board. Some of the more common reasons which may necessitate that a security be fair valued in accordance with the Pricing and Valuation Procedures include, but are not limited to: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when, under normal conditions, it would be open; or the security’s primary pricing source is not able or willing to provide a price. When a security is fair valued in accordance with the Pricing and Valuation Procedures, the Committee determines the value after taking into consideration relevant information reasonably available to the Committee.

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value as of March 31, 2016:

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		     Total  

Seix Core Bond Fund

           

Assets

           

Asset-Backed Securities1

      $—         $8,383,283         $—        $8,383,283   

Collateralized Mortgage Obligations1

      —         13,443,765         —        13,443,765   

Corporate Bonds1

      —         74,515,220         —        74,515,220   

U.S. Government Agency Mortgages1

      —         67,135,123         —        67,135,123   

U.S. Treasury Obligations1

      —         98,529,772         —        98,529,772   

Foreign Government Bond

      —         438,570         —        438,570   

Money Market Funds

      21,743,197         —         —        21,743,197   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      21,743,197         262,445,733         —        284,188,930   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Corporate Bond Fund

           

Assets

           

Corporate Bonds1

      —         16,713,848         —        16,713,848   

Money Market Funds

      1,285,456         —         —        1,285,456   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      1,285,456         16,713,848         —        17,999,304   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Floating Rate High Income Fund

           

Assets

           

Asset-Backed Security1

      —         1,058,470         —        1,058,470   

Bank Loans1

      —         4,094,295,501         —        4,094,295,501   

Corporate Bonds1

      —         64,977,560         24,497,837 4      89,475,397   

Preferred Stock1

      2,304,553         —         —        2,304,553   

Common Stocks1

      5,537,434         —         —        5,537,434   

Money Market Fund

      178,369,305         —         —        178,369,305   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      186,211,292         4,160,331,531         24,497,837 4      4,371,040,660   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Georgia Tax-Exempt Bond Fund

           

Assets

           

Municipal Bonds2

      —         109,025,763         —        109,025,763   

Money Market Fund

      1,297,273         —         —        1,297,273   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      1,297,273         109,025,763         —        110,323,036   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix High Grade Municipal Bond Fund

           

Assets

           

Municipal Bonds2

      —         99,552,548         —        99,552,548   

Money Market Fund

      17,339,825         —         —        17,339,825   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      17,339,825         99,552,548         —        116,892,373   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		     Total  

Seix High Income Fund

           

Assets

           

Bank Loans1

      $—         $21,513,417         $—        $21,513,417   

Corporate Bonds1

      —         543,447,548         0 4      543,447,548   

Convertible Preferred Stock1

      1,091,638         —         —        1,091,638   

Preferred Stock1

      2,968,406         —         —        2,968,406   

Common Stocks1

      7,467,786         —         —        7,467,786   

Money Market Funds

      81,434,620         —         —        81,434,620   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      92,962,450         564,960,965         0 4      657,923,415   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix High Yield Fund

           

Assets

           

Bank Loans1

      —         20,533,275         —        20,533,275   

Corporate Bonds1

      —         466,622,597         —        466,622,597   

Convertible Preferred Stock1

      948,315         —         —        948,315   

Common Stock1

      965,521         —         —        965,521   

Money Market Funds

      86,529,601         —         —        86,529,601   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      88,443,437         487,155,872         —        575,599,309   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Investment Grade Tax-Exempt Bond Fund

           

Assets

           

Municipal Bonds2

      —         578,563,827         —        578,563,827   

Money Market Fund

      80,641,465         —         —        80,641,465   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      80,641,465         578,563,827         —        659,205,292   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Limited Duration Fund

           

Assets

           

Asset-Backed Securities1

      —         1,628,500         —        1,628,500   

Collateralized Mortgage Obligations1

      —         3,679,667         —        3,679,667   

U.S. Government Agency Mortgages1

      —         1,039,798         —        1,039,798   

Money Market Fund

      299,524         —         —        299,524   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      299,524         6,347,965         —        6,647,489   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix North Carolina Tax-Exempt Bond Fund

           

Assets

           

Municipal Bonds2

      —         27,857,014         —        27,857,014   

Money Market Fund

      1,042,292         —         —        1,042,292   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      1,042,292         27,857,014         —        28,899,306   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Short-Term Bond Fund

           

Assets

           

Asset-Backed Securities1

      —         4,832,501         —        4,832,501   

Collateralized Mortgage Obligations1

      —         4,957,923         —        4,957,923   

Corporate Bonds1

      —         18,663,329         —        18,663,329   

Municipal Bonds2

      —         1,063,356         —        1,063,356   

U.S. Government Agency Mortgages1

      —         6,417,461         —        6,417,461   

U.S. Treasury Obligations1

      —         17,254,087         —        17,254,087   

Money Market Fund

      876,056         —         —        876,056   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      876,056         53,188,657         —        54,064,713   
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Short-Term Municipal Bond Fund

           

Assets

           

Municipal Bonds2

      —         36,871,105         —        36,871,105   

Money Market Fund

      3,491,966         —         —        3,491,966   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      3,491,966         36,871,105         —        40,363,071   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Level 1 -
Quoted
Prices		     Level 2 -
Other
Significant
Observable
Inputs		     Level 3 -
Significant
Unobservable
Inputs		      Total  

Seix Total Return Bond Fund

          

Assets

          

Asset-Backed Securities1

      $—        $30,586,650        $—         $30,586,650   

Collateralized Mortgage Obligations1

      —        44,698,867        —         44,698,867   

Bank Loan1

      —        234,610        —         234,610   

Corporate Bonds1

      —        296,338,174        —         296,338,174   

U.S. Government Agency Mortgages1

      —        288,179,569        —         288,179,569   

U.S. Treasury Obligations1

      —        397,166,500        —         397,166,500   

Foreign Government Bonds

      —        22,824,570        —         22,824,570   

Money Market Funds

      140,504,620        —        —         140,504,620   
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      140,504,620        1,080,028,940        —         1,220,533,560   
  

 

 

    

 

 

    

 

 

     

 

 

  

Other Financial Instruments3

          

Forward Foreign Currency Contracts

      —        3,646,060        —         3,646,060   
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Assets

      140,504,620        1,083,675,000        —         1,224,179,620   
  

 

 

    

 

 

    

 

 

     

 

 

  

Liabilities

          

Forward Foreign Currency Contracts

      —        (4,445,535 )      —         (4,445,535 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Liabilities

      —        (4,445,535 )      —         (4,445,535 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Seix U.S. Government Securities Ultra-Short Bond Fund

          

Assets

          

Asset-Backed Security1

      —        11,415,574        —         11,415,574   

Collateralized Mortgage Obligations1

      —        584,179,675        —         584,179,675   

U.S. Government Agency Mortgages1

      —        876,103,726        —         876,103,726   

U.S. Treasury Obligation1

      —        999,175        —         999,175   

Money Market Fund

      81,726,491        —        —         81,726,491   
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      81,726,491        1,472,698,150        —         1,554,424,641   
  

 

 

    

 

 

    

 

 

     

 

 

  

Other Financial Instruments3

          

Liabilities

          

Futures Contracts

      (46,059 )      —        —         (46,059 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Liabilities

      (46,059 )      —        —         (46,059 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Seix U.S. Mortgage Fund

          

Assets

          

Collateralized Mortgage Obligations1

      —        1,802,028        —         1,802,028   

U.S. Government Agency Mortgages1

      —        34,181,348        —         34,181,348   

U.S. Treasury Obligations1

      —        659,593        —         659,593   

Money Market Fund

      2,438,560        —        —         2,438,560   
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      2,438,560        36,642,969        —         39,081,529   
  

 

 

    

 

 

    

 

 

     

 

 

  

Seix Ultra-Short Bond Fund

          

Assets

          

Asset-Backed Securities1

      —        21,565,160        —         21,565,160   

Collateralized Mortgage Obligations1

      —        18,295,656        —         18,295,656   

Corporate Bonds1

      —        45,961,276        —         45,961,276   

Municipal Bonds2

      —        2,581,355        —         2,581,355   

U.S. Government Agency Mortgages1

      —        12,802,661        —         12,802,661   

U.S. Treasury Obligation1

      —        109,910        —         109,910   

Money Market Fund

      3,270,974        —        —         3,270,974   
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      3,270,974        101,316,018        —         104,586,992   
  

 

 

    

 

 

    

 

 

     

 

 

  

Other Financial Instruments3

          

Liabilities

          

Futures Contracts

      (8,369 )      —        —         (8,369 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Liabilities

      (8,369 )      —        —         (8,369 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		      Total  

Seix Virginia Intermediate Municipal Bond Fund

            

Assets

            

Municipal Bonds2

      $—         $65,834,925         $—         $65,834,925   

Money Market Funds

      1,373,956         —         —         1,373,956   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      1,373,956         65,834,925         —         67,208,881   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

1  Please see the Schedules of Portfolio Investments for Sector Classifications.

 

2  Please see the Schedules of Portfolio Investments for State Classifications.

 

3  Other Financial Instruments are derivative instruments and depreciation on unfunded loan commitments not reflected in the value of Total Investments in the Schedules of Portfolio Investments, such as credit default swaps, forward foreign currency contracts, futures and interest rate swaps, which are shown at the unrealized appreciation (depreciation) on the instrument.

 

4  As of March 31, 2016, the securities designated as Level 3 were fair valued using significant unobservable inputs under procedures adopted by the Board. Such valuations were based on a review of inputs such as, but not limited to, similar securities, company specific financial information, and company specific news. Each of these securities are Board fair valued securities for the fiscal year ended March 31, 2016. The Level 3 securities comprised 0.0% of net assets of Seix High Income Fund and 0.6% of net assets of Seix Floating Rate High Income Fund.

The following is a reconciliation of investments as of March 31, 2016 in which significant unobservable inputs (Level 3) were used in determining fair value:

 

    Balance
as of
3/31/2015		     Accrued
Discounts		     Realized
Gain		     Change in
Unrealized
Depreciation		     Purchases     Sales     Transfers
into
Level 3		     Transfers
out of
Level 3		     Balance
as of
3/31/2016		     Net Change
in Unrealized
Depreciation
from
Investments
Still Held
as of
3/31/2016		  

Seix Floating Rate High Income Fund

                    

Corporate Bonds

                    

Oil and Gas

     $—        $—        $—        $—        $—        $—        $24,497,837        $—        $24,497,837        $—   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    $—        $—        $—        $—        $—        $—        $24,497,837        $—        $24,497,837        $—   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

The Funds’ policy is to disclose transfers between levels based on valuations at the end of the reporting period. Each portfolio may hold securities which are periodically fair valued in accordance with the Pricing and Valuation Procedures. This may result in movements between Level 1 and Level 2 throughout the period. As of March 31, 2016, there were no transfers from Level 1 to Level 2 pursuant to the Pricing and Valuation Procedures. As of March 31, 2016, a security was transferred from Level 2 to Level 3 pursuant to the Pricing and Valuation Procedures for Seix Floating Rate High Income Fund. The transfer was a result of a review of the use of the Barclays broker quote and other pricing inputs. Based on the fact pattern, it was deemed the security illiquid, and classified it as Level 3.

(b) Security Transactions and Investment Income — Security transactions are accounted for on a trade date basis. Interest income, adjusted for amortization of premium and accretion of discount over the life of the securities, is recorded on the accrual basis. Domestic and foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults or a credit event occurs that impacts the issuer, the Funds may halt any additional interest income accruals and consider the Funds’ ability to realize interest accrued up to the date of default or credit event. Distributions from gains from underlying funds, if any, are recorded as realized gains on the ex-dividend date. Paydown gains and losses on mortgage- and asset-backed securities are recorded as adjustments to interest income.

(c) Distributions to Shareholders — Distributions from net investment income of each of the Funds are declared each business day to shareholders of record and are paid monthly. Distributions of net realized capital gains, if any, are declared at least annually. Distributions to shareholders from each of the Funds are recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

(d) Expenses and Share Class Accounting — Expenses that are directly related to a specific Fund are charged to that Fund. Other operating expenses of the Trust are allocated pro-rata to the Funds on the basis of relative net assets or another appropriate basis. Investment income, common expenses, and realized/unrealized capital gains (losses) on investments are allocated to the various share classes of the Funds on the basis of relative daily net assets of each share class. Fees relating to a specific share class are charged directly to the share class.

(e) Securities Traded on a To-Be-Announced Basis — Certain Funds may trade securities on a to-be-announced (“TBA”) basis. In a TBA transaction, a Fund commits to purchasing or selling securities which have not yet been issued by the issuer and for which specific information, such as the face amount, maturity date and underlying pool of investments in U.S. government agency mortgage pass-through securities, is not announced. Securities purchased on a TBA basis are not settled until they are delivered to the Fund. Beginning on the date a Fund enters into a TBA transaction, cash, U.S. government securities or other liquid high-grade debt obligations are segregated in an amount equal in value to the purchase price of the TBA security. These securities are subject to market fluctuations and their current value is determined in the same manner as for other securities.

(f) Derivative Instruments — Certain Funds may enter into derivative contracts for purposes of pursuing their investment objectives, to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks. Open derivative positions as of March 31, 2016 are included on each Fund’s Schedule of Portfolio Investments.

(g) Forward Foreign Currency Contracts — Certain Funds may enter into forward foreign currency contracts to hedge against foreign currency exchange rate risk on non-U.S. dollar denominated securities or to facilitate settlement of a foreign currency denominated portfolio transaction. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. When a forward foreign currency contract is closed, through either delivery or offset by entering into another forward foreign currency contract, the Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it is closed.

Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected on the Statements of Assets and Liabilities. The Funds bear the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

(h) Futures Contracts — Certain Funds may enter into futures contracts to gain exposure to, or hedge against, changes in interest rates or gain exposure to, or hedge against, changes in certain asset classes. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.

Upon entering into a futures contract, the Fund is required to deposit cash or cash equivalents with a broker in an amount equal to a certain percentage of the contract amount. This is known as the “initial margin” and subsequent payments (“variation margin”) are made or received by the Fund each day, depending on the daily fluctuation in the value of the contract. For certain futures, including foreign denominated futures, variation margin is not settled daily, but is recorded as a net variation margin payable or receivable. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. The daily changes in contract value are recorded as unrealized gains or losses in the Statements of Operations and the Fund recognizes a realized gain or loss when the contract is closed.

Futures contracts involve, to varying degrees, risk of loss in excess of the amounts reflected in the Statements of Assets and Liabilities. In addition, there is the risk that the Funds may not be able to enter into a closing transaction because of an illiquid secondary market.

(i) Foreign Currency Translation — Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates, as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time), on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

 

138

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

The Funds do not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments and foreign currencies.

Net realized foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency contracts, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the amount actually received.

(j) Swap Contracts — Certain Funds may invest in swap contracts for the purpose of managing exposure to interest rate, credit or market risk, or for other purposes. The use of swap contracts involves risks that are different from those associated with ordinary portfolio transactions. Swap contracts may be privately negotiated in the over-the-counter market (“OTC swaps”) or may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“centrally cleared swaps”).

OTC swap contracts are marked-to-market daily using an independent pricing vendor and changes in value are recorded as unrealized appreciation or depreciation in the Statements of Assets and Liabilities. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a receivable or payable, as applicable, for variation margin on centrally cleared swaps on the Statement of Assets and Liabilities. Gains or losses are realized upon termination of the swap contract. Collateral, in the form of restricted cash or securities, may be required to be held in segregated accounts with the Funds’ custodian in compliance with the terms of the swap contracts. Securities posted as collateral for swap contracts are identified in the Schedules of Portfolio Investments and restricted cash, if any, is identified on the Statements of Assets and Liabilities. Risks may exceed amounts recorded in the Statements of Assets and Liabilities. These risks include changes in the returns of the underlying instruments, failure of the counterparties to perform under the contracts’ terms, and the possible lack of liquidity with respect to the swap contracts. Payments received or made at the beginning of the measurement period are reflected as a premium or deposit, respectively, on the Statements of Assets and Liabilities. These upfront payments are amortized over the life of the swap and are recognized as realized gain or loss in the Statements of Operations. Net periodic payments received or paid by the Funds are recognized as a realized gain or loss in the Statements of Operations.

Credit Default Swaps

Certain Funds enter into credit default swap (“CDS”) contracts for investment purposes, to manage credit risk or to add leverage. CDS contracts involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default by a third party, typically corporate or sovereign issuers, on a specified obligation, or in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising a credit index. The Funds may use a CDS contract to provide protection against defaults of the issuers (i.e., to reduce risk where the Funds have exposure to an issuer) or to take an active long or short position with respect to the likelihood of a particular issuer’s default.

As a seller of protection, a Fund generally receives an upfront payment or a stream of payments throughout the term of the swap contracts provided that there is no credit event. These amounts of potential payments will be partially offset by any recovery of values from the respective referenced obligations. As a seller of protection, a Fund effectively adds leverage to its portfolio because, in addition to its total net assets, a Fund is subject to investment exposure on the notional amount of the swap contract. As a buyer of protection, a Fund generally receives an amount up to the notional value of the swap contract if a defined credit event occurs.

The Funds’ maximum risk of loss from counterparty risk, as the protection buyer, is the fair value of the swap contract (this risk is mitigated by the posting of collateral by the counterparty to the Fund to cover the Funds’ exposure to the counterparty). As the protection seller, the Funds’ maximum risk is the notional amount of the contract. CDS contracts are considered to have credit risk-related contingent features since they require payment by the protection seller to the protection buyer upon the occurrence of a defined credit event.

Implied spreads are the theoretical prices a lender receives for credit default protection. When spreads rise, market perceived credit risk rises and when spreads fall, market perceived credit risk falls. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to enter into the contract. Wider credit spreads and decreasing market values, when compared

 

139

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

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 contract. Credit spreads utilized in determining the period end market value of CDS contracts on corporate or sovereign issues are disclosed in the Schedules of Portfolio Investments and serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for credit derivatives. The quoted market prices and resulting values, particularly in relation to the notional amount of the contract as well as the annual payment rate, serve as an indication of the current status of the payment/performance risk for CDS contracts on asset-backed securities and credit indices.

Entering into a CDS contract involves, to varying degrees, elements of credit, market and documentation risk. Such risks involve the possibility that there will be no liquid market for these contracts, and that the counterparty to the contract may default on its obligation to perform or disagree as to the meaning of the contractual terms in the contract, and that there are unfavorable changes in net interest rates. As of March 31, 2016, the Funds had no outstanding CDS contracts.

Interest Rate Swaps

Certain Funds may enter into interest rate swap (“IRS”) contracts to manage exposure to interest rate risk. IRS contracts are agreements between two parties to exchange cash flows based on a notional principal amount. The Fund may elect to pay a fixed rate and receive a floating rate, or, receive a fixed rate and pay a floating rate on a notional principal amount. IRS contracts are marked-to-market daily based upon quotations from market makers. When a swap contract is terminated early, the Fund records a realized gain or loss equal to the difference between the original cost and the settlement amount of the closing transaction.

The risks of IRS contracts include changes in market conditions that will affect the value of the contract or changes in the present value of the future cash flow streams and the possible inability of the counterparty to fulfill its obligations under the contract. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life, to the extent that that amount is positive. This risk is mitigated by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty. As of March 31, 2016, the Funds had no outstanding IRS contracts.

The fair value of derivative instruments not accounted for as hedging instruments on the Statements of Assets and Liabilities and the effect of derivative instruments not accounted for as hedging instruments, on the Statements of Operations as of March 31, 2016, are presented in the table below:

 

     Credit
Risk		     Foreign
Exchange
Risk		      Interest
Rate
Risk		      Total  
Seix Corporate Bond Fund           

Realized Gain (Loss)#

           

Swaps Contracts

    $ (24,948 )    $ —       $ —       $ (24,948 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

Total Realized Gain (Loss)

    $ (24,948 )    $ —       $ —       $ (24,948 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

Change in Unrealized Appreciation (Depreciation)##

           

Swaps Contracts

    $ 1,656      $ —       $ —       $ 1,656   
  

 

 

    

 

 

     

 

 

     

 

 

  

Total Change in Appreciation (Depreciation)

    $ 1,656      $ —       $ —       $ 1,656   
  

 

 

    

 

 

     

 

 

     

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

           

Swaps Contracts

      783,333        —         —         783,333   
  

 

 

    

 

 

     

 

 

     

 

 

  
Seix High Income Fund           

Realized Gain (Loss)#

           

Swaps Contracts

    $ 290,557      $ —       $ —       $ 290,557   
  

 

 

    

 

 

     

 

 

     

 

 

  

Total Realized Gain (Loss)

    $ 290,557      $ —       $ —       $ 290,557   
  

 

 

    

 

 

     

 

 

     

 

 

  

Change in Unrealized Appreciation (Depreciation)##

           

Swaps Contracts

    $ (224,551 )    $ —       $ —       $ (224,551 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

Total Change in Appreciation (Depreciation)

    $ (224,551 )    $ —       $ —       $ (224,551 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

           

Swaps Contracts

      24,500,000        —         —         24,500,000   
  

 

 

    

 

 

     

 

 

     

 

 

  

 

140

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Credit
Risk		     Foreign
Exchange
Risk		     Interest
Rate
Risk		     Total  
Seix High Yield Fund         

Realized Gain (Loss)#

         

Swaps Contracts

    $ 421,799      $ —      $ —      $ 421,799   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Realized Gain (Loss)

    $ 421,799      $ —      $ —      $ 421,799   
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Unrealized Appreciation (Depreciation)##

         

Swaps Contracts

    $ (367,750 )    $ —      $ —      $ (367,750 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Change in Appreciation (Depreciation)

    $ (367,750 )    $ —      $ —      $ (367,750 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

         

Swaps Contracts

      26,800,000        —        —        26,800,000   
  

 

 

    

 

 

    

 

 

    

 

 

  
Seix Total Return Bond Fund         

Asset Derivatives

         

Forward Contracts*

    $ —      $ 3,646,060      $ —      $ 3,646,060   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Value

    $ —      $ 3,646,060      $ —      $ 3,646,060   
  

 

 

    

 

 

    

 

 

    

 

 

  

Liability Derivatives

         

Forward Contracts^

    $ —      $ (4,445,535 )    $ —      $ (4,445,535 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Value

    $ —      $ (4,445,535 )    $ —      $ (4,445,535 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Realized Gain (Loss)#

         

Forward Contracts

    $ —      $ 1,867,571      $ —      $ 1,867,571   

Swaps Contracts

      (87,731 )      —        —        (87,731 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Realized Gain (Loss)

    $ (87,731 )    $ 1,867,571      $ —      $ 1,779,840   
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Unrealized Appreciation (Depreciation)##

         

Forward Contracts

    $ —      $ (1,351,317 )    $ —      $ (1,351,317 ) 

Swaps Contracts

      50,260        —        —        50,260   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Change in Appreciation (Depreciation)

    $ 50,260      $ (1,351,317 )    $ —      $ (1,301,057 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

         

Forward Currency Contracts

      —        229,076,896        —        229,076,896   
  

 

 

    

 

 

    

 

 

    

 

 

  

Swaps Contracts

      26,598,850        —        —        26,598,850   
  

 

 

    

 

 

    

 

 

    

 

 

  
Seix U.S. Government Securities Ultra-Short Bond Fund         

Asset Derivatives

         

Liability Derivatives

         

Futures Contracts^

    $ —      $ —      $ (46,059 )    $ (46,059 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Value

    $ —      $ —      $ (46,059 )    $ (46,059 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Realized Gain (Loss)#

         

Futures Contracts

    $ —      $ —      $ (1,463,126 )    $ (1,463,126 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Realized Gain (Loss)

    $ —      $ —      $ (1,463,126 )    $ (1,463,126 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Unrealized Appreciation (Depreciation)##

         

Futures Contracts

    $ —      $ —      $ 479,018      $ 479,018   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Change in Appreciation (Depreciation)

    $ —      $ —      $ 479,018      $ 479,018   
  

 

 

    

 

 

    

 

 

    

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

         

Futures Short Contracts

      —        —        (776 )      (776 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

141

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Credit
Risk		      Foreign
Exchange
Risk		      Interest
Rate
Risk		     Total  
Seix Ultra-Short Bond Fund           

Liability Derivatives

           

Futures Contracts^

    $ —       $ —       $ (8,369 )    $ (8,369 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Value

    $ —       $ —       $ (8,369 )    $ (8,369 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Realized Gain (Loss)#

           

Futures Contracts

    $ —       $ —       $ (220,838 )    $ (220,838 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Realized Gain (Loss)

    $ —       $ —       $ (220,838 )    $ (220,838 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Change in Unrealized Appreciation (Depreciation)##

           

Futures Contracts

    $ —       $ —       $ 37,451      $ 37,451   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Change in Appreciation (Depreciation)

    $ —       $ —       $ 37,451      $ 37,451   
  

 

 

     

 

 

     

 

 

    

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

           

Futures Short Contracts

      —         —         (125 )      (125 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

 

* Statements of Assets and Liabilities location: Appreciated Swap Contracts, at Value, Unrealized Appreciation on Forward Foreign Currency Contracts, as applicable. Futures Contracts value represents cumulative unrealized appreciation. Only the current day’s variation margin on futures contracts is reported within the Statement of Assets and Liabilities as receivable or payable for variation margin, as applicable.

 

^ Statements of Assets and Liabilities location: Depreciated Swap Contracts, at Value, Unrealized Depreciation on Forward Foreign Currency Contracts, as applicable. Futures Contracts value represents cumulative unrealized depreciation. Only the current day’s variation margin on futures contracts is reported within the Statement of Assets and Liabilities as receivable or payable for variation margin, as applicable.

 

# Statements of Operations location: Net Realized Gain (Loss) from: Futures Contracts, Swap Contracts, or Forward Foreign Currency Contracts, as applicable.

 

## Statements of Operations location: Net Change in Unrealized Appreciation (Depreciation) on: Futures Contracts, Swap Contracts, or Forward Foreign Currency Contracts, as applicable.

 

+ Amount(s) disclosed represent the average number of contracts for futures contracts, notional amounts for forward foreign currency contracts and swap contracts, which are indicative of volume of this derivative type, for the months that the Fund held such derivatives during the fiscal year ended March 31, 2016.

The following table summarizes any OTC derivatives at March 31, 2016 that are subject to an enforceable master netting agreement or similar agreement and net of the related collateral received by the Funds.

 

     Gross Amounts of
Assets/Liabilities
Presented in the
Statement of
Assets and
Liabilities(a)		      Financial
Instruments and
Derivatives
Available for
Offset		      Collateral
(Received)/Pledged(b)		     Net Amount of
Derivative
Assets/Liabilities		  
Seix Total Return Bond Fund           

Assets Counterparty

           

JPMorgan

    $ 3,646,060       $ —       $ —      $ 3,646,060   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 3,646,060       $ —       $ —      $ 3,646,060   
  

 

 

     

 

 

     

 

 

    

 

 

  

Liabilities Counterparty

           

JPMorgan

    $ 4,445,535       $ —       $ (542,212 )    $ 3,903,323   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 4,445,535       $ —       $ (542,212 )    $ 3,903,323   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

(a) Absent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset in the Statement of Asset and Liabilities.

 

(b) The amount presented here may be less than the total amount of collateral received/pledged, as the net amount of the derivative assets and liabilities for a counterparty cannot be less than $0.

(k) Securities Lending — Each Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Board. These loans may not exceed either (i) 50% of the sum of the market value of all securities of the Fund and the market value of securities purchased with cash collateral or (ii) 33.33% of the total market value of all securities of the Fund. No Fund will lend portfolio securities to its investment adviser, subadviser, or its affiliates unless it has applied for and received specific authority to do so from the Securities and Exchange Commission. Loans of

 

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RIDGEWORTH FUNDS    March 31, 2016

 

portfolio securities are required to be fully collateralized by cash, letters of credit or U.S. government securities. The initial value of the collateral must be at least 102% of the market value of the securities loaned, if the securities loaned are U.S. securities (105% for non-U.S. securities); and maintained in an amount equal to at least 100% (103% for non-U.S. securities) thereafter. However, due to market fluctuations during the day, the value of securities loaned on a particular day may exceed the value of collateral. On each business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity. Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks; including the risk that a Fund may be delayed or prevented from recovering the collateral if the borrower fails to return the securities. A fee will be obtained from the borrower if letters of credit or U.S. government securities are used as collateral.

The Funds, in accordance with guidance presented, have adopted FASB Accounting Standards Update (‘‘ASU 2014-11”), Balance Sheet (Topic) 860: Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. ASU 2014-11 is intended to provide increased transparency about the types of collateral pledged in repurchase agreements and other similar transactions that are accounted for as secured borrowing.

For Seix Core Bond Fund, Seix Corporate Bond Fund, Seix High Income Fund, Seix High Yield Fund and Seix Total Return Bond Fund the value of the security loan obligation is classified as follows as of March 31, 2016:

Seix Core Bond Fund

 

     Remaining Contractual Maturity of the Agreements
As of March 31, 2016		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

               

Corporate Bonds

    $ 1,234,668       $ —       $ —       $ —       $ 1,234,668   

U.S. Treasury Obligations

      11,557,135         —         —         —         11,557,135   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 12,791,803       $ —       $ —       $ —       $ 12,791,803   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

    $ 12,791,803       $ —       $ —       $ —       $ 12,791,803   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

  

          $ 12,791,803   
              

 

 

  
Seix Corporate Bond Fund   
     Remaining Contractual Maturity of the Agreements
As of March 31, 2016		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

               

Corporate Bonds

    $ 471,458       $ —       $ —       $ —       $ 471,458   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

    $ 471,458       $ —       $ —       $ —       $ 471,458   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

  

          $ 471,458   
              

 

 

  
Seix High Income Fund   
     Remaining Contractual Maturity of the Agreements
As of March 31, 2016		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

               

Common Stocks

    $ 1,643,728       $ —       $ —       $ —       $ 1,643,728   

Corporate Bonds

      60,228,088         —         —         —         60,228,088   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 61,871,816       $ —       $ —       $ —       $ 61,871,816   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

    $ 61,871,816       $ —       $ —       $ —       $ 61,871,816   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

  

          $ 61,871,816   
              

 

 

  

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Seix High Yield Fund   
     Remaining Contractual Maturity of the Agreements
As of March 31, 2016		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

               

Common Stocks

    $ 964,231       $ —       $ —       $ —       $ 964,231   

Corporate Bonds

      45,733,334         —         —         —         45,733,334   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 46,697,565       $ —       $ —       $ —       $ 46,697,565   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

    $ 46,697,565       $ —       $ —       $ —       $ 46,697,565   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

  

          $ 46,697,565   
              

 

 

  
Seix Total Return Fund   
     Remaining Contractual Maturity of the Agreements
As of March 31, 2016		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

               

Corporate Bonds

    $ 4,856,675       $ —       $ —       $ —       $ 4,856,675   

Foreign Government Bonds

      2,145,247         —         —         —         2,145,247   

U.S. Treasury Obligations

      96,420,536         —         —         —         96,420,536   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 103,422,458       $ —       $ —       $ —       $ 103,422,458   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

    $ 103,422,458       $ —       $ —       $ —       $ 103,422,458   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

  

          $ 103,422,458   
              

 

 

  

(l) When-Issued Securities and Forward Commitments — Delivery and payment for securities that have been purchased by a Fund on a forward commitment or when-issued basis can take place up to a month or more after the transaction date at a fixed price. During this period, such securities are subject to market fluctuations. The purchase of securities on a when-issued or forward commitment basis may increase the volatility of a Fund’s NAV if the Fund makes such investments while remaining substantially fully invested. A Fund records when-issued securities on trade date and will segregate or earmark liquid assets in an amount at least equal in value to its commitments to purchase when-issued and forward commitment securities or engage in other appropriate measures to “cover” its obligation. When-issued securities and the segregated liquid assets associated with such investments are presented within the Funds’ Schedules of Portfolio Investments.

(m) Bank Loans — Certain Funds may invest in first and second lien senior floating-rate loans (“bank loans”). These loans are made by banks and other large financial institutions to various companies and are senior in the borrowing companies’ capital structure. Coupon rates are floating, not fixed, and are tied to a benchmark lending rate. A Fund records an investment when the borrower withdraws money and records the interest as earned. Some types of senior loans in which these Funds may invest require that an open loan for a specific amount be continually offered to a borrower. These types of senior loans, commonly referred to as revolvers, contractually obligate the lender (and therefore those with an interest in the loan) to fund the loan at the borrower’s discretion. A Fund will maintain, on a daily basis, high quality, liquid assets in an amount at least equal in value to its contractual obligation to fulfill the revolving senior loan. Therefore, a Fund must have funds sufficient to cover its contractual obligation. In addition, bank loans generally are subject to extended settlement periods, which may impair the Fund’s ability to sell or realize the full value of its loans in the event of a need to liquidate such loans. As of March 31, 2016, the Funds had no unfunded loan commitments.

(n) Restricted Securities — Certain Funds’ investments are restricted as to resale. As of March 31, 2016, all of these restricted securities have been deemed liquid by the Funds’ investment adviser based upon procedures approved by the Board, unless stated otherwise on the Funds’ Schedules of Portfolio Investments.

(o) Credit and Market Risk — Certain Funds’ investments in securities that are collateralized by residential real estate mortgages are subject to certain credit and liquidity risks. When market conditions result in an increase in default rates of the underlying mortgages and the foreclosure values of underlying real estate properties are

 

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materially below the outstanding amount of these underlying mortgages, collection of the full amount of accrued interest and principal on these investments may be doubtful. Such market conditions may significantly impair the value and liquidity of these investments and may result in a lack of correlation between their credit ratings and values.

(p) Foreign Investment Risks — Certain Funds’ investments in foreign securities may involve risks not present in domestic investments. Since securities may be denominated in foreign currencies, may require settlement in foreign currencies or pay interest or dividends in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of the Fund. Foreign investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which affect the market and/or credit risk of the investments.

For securities subject to foreign withholding tax upon disposition, liabilities are recorded on the Statement of Assets and Liabilities for the estimated tax withholding based on the securities’ current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

(q) Counterparty Risk and Credit-Risk-Related Contingent Features of Derivative Instruments — Certain Funds may invest in certain securities or engage in other transactions where the Funds are exposed to counterparty credit risk in addition to broader market risks. The Funds may invest in securities of issuers, which may also be considered counterparties as trading partners in other transactions. This may increase the risk of loss in the event of default or bankruptcy by the counterparty or if the counterparty otherwise fails to meet its contractual obligations. The Funds’ Investment Adviser attempts to mitigate counterparty risk by (i) periodically assessing the creditworthiness of its trading partners, (ii) monitoring and/or limiting the amount of its net exposure to each individual counterparty based on its assessment and (iii) requiring collateral from the counterparty for certain transactions. Market events and changes in overall economic conditions may impact the assessment of such counterparty risk by the investment manager. In addition, declines in the values of underlying collateral received may expose the Funds to increased risk of loss.

(r) Other Risks — Certain Funds invest in high yield corporate, government, and other debt instruments of U.S. and non-U.S. issuers. High yield securities involve greater risk of default or downgrade and are more volatile than investment grade securities. A Fund’s concentration of investments in securities of issuers located in a specific region or state, subjects that Fund to the economic and government policies of the region or state, and may increase risk versus that of a fund whose investments are more diversified. Please refer to each Fund’s prospectus for additional risks that may be associated with the Funds.

At March 31, 2016, one shareholder owned 100% of Seix Limited Duration Fund. Transaction activities of these shareholders may have a material effect on the respective Fund. Redemptions of these shareholders’ holdings in the Fund may impact the Fund’s liquidity and net asset value. Such redemptions may force the Fund to sell securities.

(s) Federal and Other Taxes — It is the Funds’ policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the “Code”), as amended, applicable to regulated investment companies. Accordingly, the Funds intend to distribute taxable income and net realized gains, if any, to shareholders in accordance with timing requirements imposed by the Code. Therefore, no federal or state income tax provision is required in the Funds’ financial statements.

Management has analyzed the Funds’ tax positions taken on income tax returns for all open tax years and has concluded that as of March 31, 2016, no provision for income tax is required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue. As of March 31, 2016, open tax years include the tax years of March 31, 2013 through 2016.

Under the applicable foreign tax laws, a withholding tax may be imposed on interest, dividends and capital gains at various rates. The Funds will accrue such taxes and recoveries as applicable, based upon their current interpretation of tax rules and regulations that exist in the markets in which they invest.

(t) Reclassification — GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share.

 

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(u) Line of Credit —The Funds entered into a committed unsecured revolving line of credit agreement (“LOC”) with a syndicate of banks which includes State Street Bank and Trust (“State Street Bank”) and Royal Bank of Canada (“RBC”), for an aggregate amount of $200,000,000. The proceeds may be used only to (1) temporarily finance the purchase and sale of securities; or (2) finance the redemption of shares of the Funds. The Funds will pay a commitment fee on a pro rata basis to State Street Bank and RBC, in the amount of 0.15% per annum on the daily unused portion of the LOC. Borrowings under the LOC will accrue interest at the higher of (a) the Federal Funds Rate, or (b) the One-month LIBOR Rate, plus 1.25% per annum. Generally, repayments must be made within 60 days of the borrowings. Commitment fees and interest expense paid to State Street Bank and RBC pursuant to this agreement are reflected on the Statements of Operations as a component of Other Fees. Prior to the September 23, 2015 syndicated agreement, a credit agreement with State Street Bank permitted an aggregate amount of $250,000,000 under similar terms and interest rates as described above. As of March 31, 2016, the Seix High Yield Fund had outstanding borrowings under the LOC.

The following Funds had an outstanding loan during the year. The borrowings were valued at cost, which approximates fair value.

 

Fund

    Interest Incurred
on Borrowing		      Average Dollar
Amount of Borrowing		      Weighted Average
Interest Rate on
Borrowing		     Days Loan
was Open		  

Seix Floating Rate High Income Fund

      $6,094         $14,607,655         1.69 %      9   

Seix High Yield Fund

      49         1,044,906         1.72        1   

Seix Short-Term Municipal Bond Fund

      49         1,047,982         1.70        1   

Seix Virginia Intermediate Municipal Bond Fund

      32         794,813         1.47        1   

 

3. Investment Adviser and Other Service Providers

Investment Adviser — RidgeWorth Investments (“Investment Adviser”) serves as the investment adviser to the Funds. The Trust and the Investment Adviser have entered into an investment advisory agreement (“Advisory Agreement”). The Investment Adviser is a money-management holding company with multiple style-focused investment boutiques. The subadviser for the Funds is Seix Investment Advisors LLC (“Subadviser”). Seix is a wholly-owned subsidiary of the Investment Adviser. The Investment Adviser pays the Subadviser out of the investment advisory fees it receives from the Funds.

Under the terms of the Advisory Agreement, the Funds are charged annual advisory fees, which are computed daily and paid monthly based upon average daily net assets. Breakpoints are used in computing the overall annual advisory fee. The maximum annual advisory fee is charged on average daily net assets of each Fund up to $500 million. A discount of 5% applies on the next $500 million, a discount of 10% applies on the next $4 billion and a discount of 15% applies on amounts over $5 billion. Fee rates for the fiscal year ended March 31, 2016 were as follows:

 

Fund

    Maximum
Advisory Fee		     Discounted
Annual
Advisory Fee		     Advisory Fees
Waived		     Net Annual
fees Paid*		  

Seix Core Bond Fund

      0.25 %      0.25 %      — %      0.25 % 

Seix Corporate Bond Fund

      0.40        0.40        (0.07 )      0.33   

Seix Floating Rate High Income Fund

      0.45        0.41        —        0.41   

Seix Georgia Tax-Exempt Bond Fund

      0.50        0.50        —        0.50   

Seix High Grade Municipal Bond Fund

      0.50        0.50        —        0.50   

Seix High Income Fund

      0.55        0.54        —        0.54   

Seix High Yield Fund

      0.45        0.44        —        0.44   

Seix Investment Grade Tax-Exempt Bond Fund

      0.50        0.49        —        0.49   

Seix Limited Duration Fund

      0.10        0.10        —        0.10   

Seix North Carolina Tax-Exempt Bond Fund

      0.50        0.50        —        0.50   

Seix Short-Term Bond Fund

      0.40        0.40        —        0.40   

Seix Short-Term Municipal Bond Fund

      0.35        0.35        (0.04 )      0.31   

Seix Total Return Bond Fund

      0.25        0.24        —        0.24   

Seix U.S. Government Securities Ultra-Short Bond Fund

      0.20        0.19        —        0.19   

Seix U.S. Mortgage Fund**

      0.40        0.40        (0.03 )      0.37   

 

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RIDGEWORTH FUNDS    March 31, 2016

 

Fund

    Maximum
Advisory Fee		     Discounted
Annual
Advisory Fee		     Advisory Fees
Waived		     Net Annual
fees Paid*		  

Seix Ultra-Short Bond Fund

      0.22 %      0.22 %      — %      0.22 % 

Seix Virginia Intermediate Municipal Bond Fund

      0.50        0.50        —        0.50   

 

* Aggregate annual fees paid to the Investment Adviser, who pays the Subadviser a portion of the fees for its services to the Funds.

 

** Effective September 1, 2015, the Seix U.S. Mortgage Fund’s investment advisory fee was reduced from 0.50% to 0.40%. The Maximum and Discounted Annual Advisory Fee reflects the reduced annual advisory fee for the period September 1, 2015 through March 31, 2016. For the period ended August 31, 2015, the Maximum and Discounted Annual Advisory Fee would have been 0.42%, respectively.

Amounts designated as “—” are 0%.

The Investment Adviser and the Subadviser have contractually agreed, until at least August 1, 2016, to waive fees and/or reimburse expenses for each of the following Funds to the extent necessary to maintain each Fund’s total annual fund operating expenses (excluding, as applicable, taxes, brokerage commissions, substitute dividend expenses on securities sold short, interest expense, extraordinary expenses and indirect expenses attributable to the Fund’s investment in other funds), expressed as a percentage of average daily net assets, as noted below:

 

     Contractual Expense Limitations
August 1, 2015 to March 31, 2016*		  

Fund

    I Shares     A Shares     C Shares     R Shares     IS Shares  

Seix Core Bond Fund**

      0.50 %      0.75 %      N/A %      1.05 %      0.40 % 

Seix Corporate Bond Fund

      0.70        0.95        1.65        N/A        N/A   

Seix Floating Rate High Income Fund

      0.70        1.00        1.60        N/A        0.60   

Seix Georgia Tax-Exempt Bond Fund

      0.65        0.80        N/A        N/A        N/A   

Seix High Grade Municipal Bond Fund

      0.65        0.80        N/A        N/A        N/A   

Seix High Income Fund

      0.80        1.05        N/A        1.50        0.70   

Seix High Yield Fund

      0.65        0.90        N/A        1.30        N/A   

Seix Investment Grade Tax-Exempt Bond Fund

      0.65        0.80        N/A        N/A        N/A   

Seix Limited Duration Fund

      0.35        N/A        N/A        N/A        N/A   

Seix North Carolina Tax-Exempt Bond Fund

      0.65        0.80        N/A        N/A        N/A   

Seix Short-Term Bond Fund

      0.60        0.80        1.60        N/A        N/A   

Seix Short-Term Municipal Bond Fund**

      0.48        0.68        N/A        N/A        N/A   

Seix Total Return Bond Fund**

      0.50        0.75        N/A        1.10        0.40   

Seix U.S. Government Securities Ultra-Short Bond Fund

      0.46        N/A        N/A        N/A        N/A   

Seix U.S. Mortgage Fund

      0.70        0.90        1.65        N/A        N/A   

Seix Ultra-Short Bond Fund

      0.46        N/A        N/A        N/A        N/A   

Seix Virginia Intermediate Municipal Bond Fund

      0.65        0.80        N/A        N/A        N/A   

 

*  These contractual Expense Limitations were in effect for the entire fiscal year except for the Funds listed below.
** For the period April 1, 2015 to July 31, 2015, the Contractual Expense Limitations were as follows:

 

Fund

    I Shares     A Shares     C Shares     R Shares     IS Shares  

Seix Core Bond Fund

      0.50 %      0.75 %      N/A %      1.05 %      N/A % 

Seix Short-Term Municipal Bond Fund

      0.55        0.70        N/A        N/A        N/A   

Seix Total Return Bond Fund

      0.50        0.75        N/A        1.05        0.40   

Under the Expense Limitation Agreement, the Investment Adviser may retain the difference between the Contractual Expense Limitation identified above and the actual total expenses to recapture any of its prior contractual waivers or reimbursements at a date not to exceed three years from the date of such waivers or reimbursements. Such repayments shall be made monthly, but only to the extent that such repayments would not cause the annualized total expense ratio to exceed, if lower, the contractual expense limitation in place at the time of the waiver or reimbursement.

Under certain circumstances, the Investment Advisor may choose to voluntarily waive fees. In the event that the Investment Advisor voluntarily waives any fees, these waived fees are not subject to recoupment by the Investment Advisor. The Investment Adviser has voluntarily undertaken to reduce and/or subsidize certain expenses of the Seix Limited Duration Fund, Seix Short-Term Bond Fund and Seix U.S. Mortgage Fund to the extent necessary to maintain a minimum annualized yield of 0.0% for each of the Fund’s share classes. This voluntary expense reduction and/or expense subsidy may be modified or discontinued at any time without prior notice and is not subject to recoupment. There can be no assurance that this fee reduction will be sufficient to avoid any loss. During the fiscal year ended March 31, 2016, Seix Limited Duration Fund, Seix Short-Term Bond Fund, Seix Short-Term Municipal Bond Fund and Seix U.S. Mortgage Fund had voluntary reimbursements in the amount of $34, $4,722, $24 and $7, respectively.

 

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RIDGEWORTH FUNDS    March 31, 2016

 

During the fiscal year ended March 31, 2016, the Investment Adviser did not recapture any of its prior contractual waivers or reimbursements. As of March 31, 2016, the cumulative potential recoupments recoverable pursuant to this agreement are as follows:

 

     Expires  
     2017      2018      2019  

Seix Core Bond Fund

      $42         $3,506         $—   

Seix Corporate Bond Fund

      5,345         11,677         30,054   

Seix Floating Rate High Income Fund

      122         —         —   

Seix Georgia Tax-Exempt Bond Fund

      —         —         32,454   

Seix High Grade Municipal Bond Fund

      18,165         26,689         43,026   

Seix High Income Fund

      26,432         —         —   

Seix Investment Grade Tax-Exempt Bond Fund

      32,500         189,341         230,521   

Seix Limited Duration Fund

      8,029         8,039         7,767   

Seix North Carolina Tax-Exempt Bond Fund

      —         14,868         27,322   

Seix Short-Term Bond Fund

      1,467         31,360         43,104   

Seix Short-Term Municipal Bond Fund

      35,071         28,407         46,670   

Seix Total Return Bond Fund

      30,144         5,518         2,074   

Seix U.S. Mortgage Fund

      56,990         58,174         44,867   

Seix Virginia Intermediate Municipal Bond Fund

      —         —         28,628   

Amounts designated as “—” are $0.

Fund Accounting, Custody, Administration, and Transfer Agency — State Street Bank and Trust Company (“State Street Bank”) serves as the fund accounting agent and custodian for the Trust pursuant to a Master Custodian Agreement. The custodian is responsible for the safekeeping of the assets of the Funds and the fund accounting agent is responsible for calculating the Funds’ NAVs. State Street Bank, as the Funds’ custodian and fund accounting agent, is paid on the basis of net assets and transaction costs of the Funds. State Street Bank also serves as the administrator for the Trust pursuant to an administration agreement. State Street Bank, as the Funds’ administrator, is paid on the basis of net assets of the Funds which are allocated among the series of the Trust, on the basis of relative net assets.

Boston Financial Data Services, Inc. (“BFDS”) serves as the transfer agent to the Trust pursuant to a Transfer Agency and Service Agreement. BFDS is paid on the basis of net assets, per account fees and certain transaction costs.

Custodian Credits — The Funds have an agreement with their custodian under which custody fees may be reduced by balance credits. These credits, if any, are shown as a reduction of custody expenses on the Statements of Operations.

Distribution — The Trust and RidgeWorth Distributors LLC (the “Distributor”) are parties to a Distribution Agreement.

In addition, with respect to the A Shares, C Shares and R Shares, the Distributor receives amounts, pursuant to a Distribution and Service Plan, based upon average daily net assets of each respective class, which are computed daily and paid monthly. For the fiscal year ended March 31, 2016, the Distributor did not retain any of the front end sales charges assessed on the sale of Class A shares. For the fiscal year ended March 31, 2016, the Distributor did not retain any commissions from contingent deferred sales charges assessed on redemptions of Class C Shares. These current board approved fees, expressed as a percentage of average daily net assets, for the fiscal year ended March 31, 2016, were as follows:

 

Fund

    A Share
Distribution
and Service
Fee		     C Share
Distribution
and Service
Fee		     R Share
Distribution
and Service
Fee		     IS Share
Distribution
and Service
Fee		  

Seix Core Bond Fund

      0.25 %      N/A %      0.50 %      N/A % 

Seix Corporate Bond Fund

      0.30        1.00        N/A        N/A   

Seix Floating Rate High Income Fund

      0.30        1.00        N/A        N/A   

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Fund

    A Share
Distribution
and Service
Fee		     C Share
Distribution
and Service
Fee		     R Share
Distribution
and Service
Fee		     IS Share
Distribution
and Service
Fee		  

Seix Georgia Tax-Exempt Bond Fund

      0.15 %      N/A %      N/A %      N/A % 

Seix High Grade Municipal Bond Fund

      0.15        N/A        N/A        N/A   

Seix High Income Fund

      0.30        N/A        0.50        N/A   

Seix High Yield Fund

      0.25        N/A        0.50        N/A   

Seix Investment Grade Tax-Exempt Bond Fund

      0.30        N/A        N/A        N/A   

Seix North Carolina Tax-Exempt Bond Fund

      0.15        N/A        N/A        N/A   

Seix Short-Term Bond Fund

      0.20        1.00        N/A        N/A   

Seix Short-Term Municipal Bond Fund

      0.15        N/A        N/A        N/A   

Seix Total Return Bond Fund

      0.25        N/A        0.50        N/A   

Seix U.S. Mortgage Fund

      0.20        1.00        N/A        N/A   

Seix Virginia Intermediate Municipal Bond Fund

      0.15        N/A        N/A        N/A   

Shareholder Servicing Fees — The Funds have adopted shareholder services fees for the I Shares and A Shares of such Funds. Each of these Funds (or class thereof, as the case may be) may pay a services fee to financial institutions that provide certain services to the Funds. The services under each of these Plans may include, among others, providing general shareholder liaison services (including responding to shareholder inquiries) providing information on shareholder investments, and establishing and maintaining shareholder accounts and records. The Funds may pay a fee under the Plan up to an annual rate of 0.20% of average daily net assets of a Fund’s I Shares or A Shares. The Seix Core Bond Fund, Seix High Income Fund, Seix High Yield Fund and Seix Total Return Bond Fund have adopted a shareholder services fee for the R Shares. Each Fund pays specified benefit plans or other financial service firms for shareholder support services they provide, at an annual rate of up to 0.25% of the average daily net assets of R Shares.

Compliance & Fund Services Fees — The Investment Adviser provides compliance and certain administrative services to the Trust to ensure compliance with applicable laws and regulations. For the fiscal year ended March 31, 2016, the Investment Adviser was paid $1,483,680 for these services. Foreside Fund Officer Services, LLC (‘‘FFOS’’) (formerly Foreside Compliance Services, LLC), an affiliate of the Distributor, provides an Anti-Money Laundering Officer/Identity Theft Prevention Officer (“AML Officer”) to the Trust. Effective October 2015, Foreside Management Services, LLC (“FMS”), an affiliate of the Distributor, provides Principal Financial Officer (“PFO”) support services to the Trust. Fees paid to FFOS and FMS pursuant to these agreements are reflected on the Statements of Operations as a component of the caption “Other Fees”.

Neither FFOS nor any of their officers or employees who serve as an officer of the Trust, have any role in determining the Funds’ investment policies or which securities are to be purchased or sold by the Trust or its Funds.

Certain officers of the Trust are also officers or employees of the Investment Adviser, FFOS and the administrator. Such officers receive no fees from the Trust for serving as officers of the Trust.

Each of the Trustees receives an annual retainer and an additional fee for each meeting attended, plus reimbursement for certain expenses incurred. Trustees receive an additional fee for committee service, paid on a per committee meeting basis. Information on the aggregate remuneration paid to the Trustees can be found on the Statements of Operations.

 

4. Capital Stock Transactions

Transactions in capital shares and dollars for the fiscal years ended March 31 were as follows:

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Converted		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Shares
Converted		     Change in
Net Assets
from Capital
Transactions		  

Seix Core Bond Fund

  

                      

I Shares

                        

3/31/2016

     3,773,694        18,121,184        514,563        (16,264,183 )      —        6,145,258        $40,652,397        $195,102,886        $5,532,336        $(175,119,070 )      $—        $66,168,549   

3/31/2015

     4,510,931        —        302,569        (6,253,876 )      —        (1,440,376 )      49,062,356        —        3,294,024        (68,021,150 )      —        (15,664,770 ) 

 

149

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Converted		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Shares
Converted		     Change in
Net Assets
from Capital
Transactions		  

A Shares

                        

3/31/2016

     114,909        312,495        19,263        (181,459 )      —        265,208        $1,234,908        $3,363,629        $207,022        $(1,960,111 )      $—        $2,845,448   

3/31/2015

     54,092        —        13,538        (321,519 )      —        (253,889 )      589,429        —        147,238        (3,486,043 )      —        (2,749,376 ) 

R Shares

                        

3/31/2016

     63,349        1,392        7,188        (70,497 )      —        1,432        681,606        14,994        77,357        (760,012 )      —        13,945   

3/31/2015

     17,918        —        5,424        (93,708 )      —        (70,366 )      194,681        —        59,073        (1,018,551 )      —        (764,797 ) 

IS Shares*

  

                      

3/31/2016

     2,309        —        30        (277 )      —        2,062        24,783        —        327        (2,994 )      —        22,116   

Seix Corporate Bond Fund

  

                  

I Shares

                        

3/31/2016

     332,069        —        66,369        (2,042,573 )      —        (1,644,135 )      2,874,849        —        559,900        (17,746,984 )      —        (14,312,235 ) 

3/31/2015

     955,616        —        134,258        (1,573,782 )      —        (483,908 )      8,532,909        —        1,191,441        (13,966,065 )      —        (4,241,715 ) 

A Shares

                        

3/31/2016

     40,688        —        2,578        (74,224 )      —        (30,958 )      345,153        —        21,778        (637,354 )      —        (270,423 ) 

3/31/2015

     90,712        —        3,551        (93,103 )      —        1,160        814,568        —        31,615        (834,348 )      —        11,835   

C Shares

                        

3/31/2016

     39,199        —        42,617        (161,946 )      —        (80,130 )      328,481        —        355,742        (1,369,368 )      —        (685,145 ) 

3/31/2015

     4,778        —        41,097        (188,550 )      —        (142,675 )      42,519        —        363,642        (1,679,489 )      —        (1,273,328 ) 

Seix Floating Rate High Income Fund

  

                

I Shares

                        

3/31/2016

     170,340,033        —        20,764,128        (508,778,380 )      —        (317,674,219 )      1,471,672,628        —        178,035,065        (4,367,322,310 )      —        (2,717,614,617 ) 

3/31/2015

     250,862,178        —        25,936,211        (583,258,962 )      —        (306,460,573 )      2,241,961,673        —        231,690,008        (5,212,104,240 )      —        (2,738,452,559 ) 

A Shares

                        

3/31/2016

     8,169,669        —        715,765        (8,337,227 )      —        548,207        70,528,471        —        6,117,753        (71,544,260 )      —        5,101,964   

3/31/2015

     5,311,892        —        789,523        (12,877,326 )      —        (6,775,911 )      47,521,598        —        7,051,575        (114,351,918 )      —        (59,778,745 ) 

C Shares

                        

3/31/2016

     1,195,922        —        201,422        (2,044,517 )      —        (647,173 )      10,336,524        —        1,718,817        (17,473,145 )      —        (5,417,804 ) 

3/31/2015

     1,255,960        —        186,092        (3,342,098 )      —        (1,900,046 )      11,262,053        —        1,660,627        (29,808,639 )      —        (16,885,959 ) 

IS Shares*

  

                      

3/31/2016

     224,292,881        —        1,963,926        (92,406,634 )      —        133,850,173        1,966,663,031        —        16,665,384        (778,962,744 )      —        1,204,365,671   

3/31/2015

     1,578,189        —        4,668        (157,646 )      —        1,425,211        13,911,350        —        41,378        (1,395,472 )      —        12,557,256   

Seix Georgia Tax-Exempt Bond Fund

  

                  

I Shares

                        

3/31/2016

     2,112,609        —        281,773        (4,711,514 )      —        (2,317,132 )      22,739,783        —        3,045,225        (50,879,549 )      —        (25,094,541 ) 

3/31/2015

     2,592,909        —        224,078        (2,270,543 )      —        546,444        27,818,184        —        2,418,136        (24,363,603 )      —        5,872,717   

A Shares

                        

3/31/2016

     17,533        —        7,749        (29,719 )      —        (4,437 )      191,368        —        83,945        (320,008 )      —        (44,695 ) 

3/31/2015

     8,488        —        8,921        (79,653 )      —        (62,244 )      90,157        —        96,012        (853,535 )      —        (667,366 ) 

Seix High Grade Municipal Bond Fund

  

                  

I Shares

                      

3/31/2016

     3,082,083        —        189,300        (2,989,888 )      —        281,495        37,610,574        —        2,310,363        (36,571,732 )      —        3,349,205   

3/31/2015

     4,745,372        —        159,946        (1,137,834 )      —        3,767,484        57,975,527        —        1,960,186        (13,933,474 )      —        46,002,239   

A Shares

                      

3/31/2016

     191,190        —        30,996        (432,490 )      —        (210,304 )      2,332,202        —        378,352        (5,267,431 )      —        (2,556,877 ) 

3/31/2015

     1,054,618        —        37,938        (506,285 )      —        586,271        12,792,276        —        464,617        (6,170,845 )      —        7,086,048   

Seix High Income Fund

  

                  

I Shares

                      

3/31/2016

     53,888,034        —        6,491,068        (80,951,480 )      —        (20,572,378 )      337,896,385        —        40,140,348        (498,500,450 )      —        (120,463,717 ) 

3/31/2015

     82,575,974        —        8,843,693        (86,288,928 )      —        5,130,739        579,568,804        —        60,279,865        (601,990,156 )      —        37,858,513   

A Shares

                      

3/31/2016

     4,030,897        —        497,172        (6,945,176 )      —        (2,417,107 )      25,894,346        —        3,085,138        (43,754,670 )      —        (14,775,186 ) 

3/31/2015

     7,667,812        —        976,856        (20,543,905 )      —        (11,899,237 )      54,340,109        —        6,753,578        (147,628,392 )      —        (86,534,705 ) 

R Shares

                      

3/31/2016

     359,333        —        161,075        (1,187,358 )      —        (666,950 )      2,219,409        —        997,383        (7,386,173 )      —        (4,169,381 ) 

3/31/2015

     810,510        —        254,230        (1,008,275 )      —        56,465        5,667,370        —        1,729,645        (7,052,708 )      —        344,307   

IS Shares*

                      

3/31/2016

     679,195        —        42,294        (1,050,372 )      —        (328,883 )      4,520,923        —        267,858        (6,288,539 )      —        (1,499,758 ) 

3/31/2015

     835,524        —        55,114        (372,986 )      —        517,652        5,992,270        —        369,144        (2,505,345 )      —        3,856,069   

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Converted		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Shares
Converted		     Change in
Net Assets
from Capital
Transactions		  

Seix High Yield Fund

  

                

I Shares

                      

3/31/2016

     41,765,800        —        2,677,794        (57,054,822 )      —        (12,611,228 )      $344,971,553        $—        $21,784,528        $(463,492,389 )      $—        $(96,736,308 ) 

3/31/2015

     59,991,586        —        5,890,762        (107,955,053 )      —        (42,072,705 )      566,345,748        —        51,929,938        (1,029,523,302 )      —        (411,247,616 ) 

A Shares

                      

3/31/2016

     1,826,899        —        49,068        (1,848,225 )      —        27,742        14,701,000        —        392,138        (14,843,739 )      —        249,399   

3/31/2015

     4,637,962        —        224,812        (11,103,725 )      —        (6,240,951 )      43,055,711        —        2,074,573        (105,914,466 )      —        (60,784,182 ) 

R Shares

                      

3/31/2016

     2,247        —        4,222        (22,713 )      —        (16,244 )      18,090        —        34,524        (193,271 )      —        (140,657 ) 

3/31/2015

     2,288        —        15,091        (52,067 )      —        (34,688 )      21,707        —        133,652        (485,745 )      —        (330,386 ) 

Seix Investment Grade Tax-Exempt Bond Fund

  

                

I Shares

                      

3/31/2016

     13,026,768        —        1,590,200        (16,652,152 )      —        (2,035,184 )      158,312,240        —        19,300,261        (202,281,494 )      —        (24,668,993 ) 

3/31/2015

     14,602,298        —        1,646,853        (15,797,083 )      —        452,068        179,985,612        —        20,298,292        (194,601,088 )      —        5,682,816   

A Shares

                      

3/31/2016

     270,002        —        61,646        (692,731 )      —        (361,083 )      3,278,639        —        748,831        (8,422,052 )      —        (4,394,582 ) 

3/31/2015

     602,590        —        67,708        (756,290 )      —        (85,992 )      7,434,825        —        835,425        (9,331,854 )      —        (1,061,604 ) 

Seix Limited Duration Fund

  

                  

I Shares

                      

3/31/2016

     1        —        —        (1 )      —        —        10        —        —        (10 )      —        —   

3/31/2015

     —        —        —        —        —        —        —        —        —        —        —        —   

Seix North Carolina Tax-Exempt Bond Fund

  

                  

I Shares

                      

3/31/2016

     844,230        —        22,593        (1,697,037 )      —        (830,214 )      8,794,686        —        235,955        (17,670,389 )      —        (8,639,748 ) 

3/31/2015

     456,959        —        7,666        (627,800 )      —        (163,175 )      4,742,649        —        79,506        (6,477,472 )      —        (1,655,317 ) 

A Shares

                      

3/31/2016

     3,850        —        1,440        (34,435 )      —        (29,145 )      40,276        —        14,957        (356,431 )      —        (301,198 ) 

3/31/2015

     970        —        1,647        (12,431 )      —        (9,814 )      10,050        —        17,015        (126,714 )      —        (99,649 ) 

Seix Short-Term Bond Fund

  

                  

I Shares

                      

3/31/2016

     2,020,005        —        28,202        (2,144,798 )      —        (96,591 )      20,069,817        —        280,754        (21,316,782 )      —        (966,211 ) 

3/31/2015

     4,689,209        —        15,007        (3,483,051 )      —        1,221,165        46,705,550        —        149,489        (34,661,784 )      —        12,193,255   

A Shares

                      

3/31/2016

     39,217        —        1,049        (61,581 )      —        (21,315 )      390,439        —        10,466        (613,864 )      —        (212,959 ) 

3/31/2015

     31,643        —        1,080        (76,545 )      —        (43,822 )      315,855        —        10,786        (764,100 )      —        (437,459 ) 

C Shares

                      

3/31/2016

     34,023        —        —        (32,941 )      —        1,082        339,111        —        —        (328,324 )      —        10,787   

3/31/2015

     30,224        —        7        (47,609 )      —        (17,378 )      301,471        —        69        (475,001 )      —        (173,461 ) 

Seix Short-Term Municipal Bond Fund

  

                

I Shares

                      

3/31/2016

     953,169        —        7,278        (1,603,161 )      —        (642,714 )      9,508,130        —        72,544        (16,004,683 )      —        (6,424,009 ) 

3/31/2015

     2,495,504        —        13,203        (1,730,406 )      —        778,301        25,027,144        —        131,989        (17,344,646 )      —        7,814,487   

A Shares

                      

3/31/2016

     451,219        —        1,966        (102,645 )      —        350,540        4,498,824        —        19,585        (1,023,872 )      —        3,494,537   

3/31/2015

     112,743        —        4,253        (321,367 )      —        (204,371 )      1,130,952        —        42,495        (3,219,515 )      —        (2,046,068 ) 

Seix Total Return Bond Fund

  

                  

I Shares

                      

3/31/2016

     24,445,338        —        1,895,924        (25,707,163 )      —        634,099        258,433,518        —        20,024,042        (271,413,458 )      —        7,044,102   

3/31/2015

     34,898,907        —        1,913,702        (44,413,678 )      —        (7,601,069 )      370,723,813        —        20,363,610        (469,786,413 )      —        (78,698,990 ) 

A Shares

                      

3/31/2016

     462,175        —        55,139        (1,487,568 )      —        (970,254 )      5,047,588        —        601,829        (16,200,651 )      —        (10,551,234 ) 

3/31/2015

     1,172,422        —        67,076        (1,150,420 )      —        89,078        12,923,984        —        737,622        (12,606,489 )      —        1,055,117   

R Shares

                      

3/31/2016

     795,487        —        77,532        (2,150,252 )      —        (1,277,233 )      8,396,594        —        819,135        (22,713,931 )      —        (13,498,202 ) 

3/31/2015

     1,423,952        —        108,564        (2,487,736 )      —        (955,220 )      15,230,786        —        1,154,903        (26,504,553 )      —        (10,118,864 ) 

IS Shares*

                      

3/31/2016

     2,408,963        —        141,104        (3,939,256 )      —        (1,389,189 )      25,424,750        —        1,490,984        (41,629,701 )      —        (14,713,967 ) 

3/31/2015

     7,452,851        —        102,410        (904,498 )      —        6,650,763        78,912,819        —        1,094,608        (9,639,814 )      —        70,367,613   

 

151

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

    Shares
Issued		     Shares
Issued-
Merger		     Shares
Reinvested		     Shares
Redeemed		     Shares
Converted		     Net
Increase
(Decrease)
in Shares
Outstanding		     Proceeds
from Shares
Issued		     Issued-
Merger		     Dividends
Reinvested		     Cost of Shares
Redeemed		     Shares
Converted		     Change in
Net Assets
from Capital
Transactions		  

Seix U.S. Government Securities Ultra-Short Bond Fund

  

                

I Shares

                      

3/31/2016

     69,731,135        —        1,082,880        (80,130,245 )      —        (9,316,230 )      $702,624,532        $—        $10,908,593        $(807,576,064 )      $—        $(94,042,939 ) 

3/31/2015

     83,380,029        784,751        1,171,622        (117,688,966 )      —        (32,352,564 )      844,619,459        7,953,747        11,867,837        (1,192,094,156 )      —        (327,653,113 ) 

Seix U.S. Mortgage Fund

  

                

I Shares

                      

3/31/2016

     911,814        1,506,410        25,558        (554,435 )      —        1,889,347        10,270,176        16,905,776        287,767        (6,240,251 )      —        21,223,468   

3/31/2015

     111,347        —        6,642        (134,103 )      —        (16,114 )      1,244,455        —        74,071        (1,490,918 )      —        (172,392 ) 

A Shares

                      

3/31/2016

     184,007        49,212        7,846        (121,669 )      —        119,396        2,066,876        551,248        88,138        (1,363,719 )      —        1,342,543   

3/31/2015

     435,295        —        5,234        (138,224 )      —        302,305        4,856,654        —        58,527        (1,550,996 )      —        3,364,185   

C Shares

                      

3/31/2016

     72,081        104,870        3,533        (49,636 )      —        130,848        809,121        1,176,793        39,767        (558,099 )      —        1,467,582   

3/31/2015

     6,873        —        4,872        (97,786 )      —        (86,041 )      76,671        —        54,280        (1,086,652 )      —        (955,701 ) 

Seix Ultra-Short Bond Fund

  

                

I Shares

                        

3/31/2016

     3,877,331        —        78,994        (7,694,691 )      —        (3,738,366 )      38,499,137        —        784,778        (76,493,415 )      —        (37,209,500 ) 

3/31/2015

     8,677,771        —        74,912        (6,674,417 )      —        2,078,266        86,577,985        —        747,060        (66,552,633 )      —        20,772,412   

Seix Virginia Intermediate Municipal Bond Fund

  

                

I Shares

                        

3/31/2016

     1,119,433        —        116,554        (6,446,425 )      —        (5,210,438 )      11,308,335        —        1,164,775        (65,333,009 )      —        (52,859,899 ) 

3/31/2015

     1,641,414        —        61,789        (1,991,032 )      —        (287,829 )      16,795,290        —        633,563        (20,408,382 )      —        (2,979,529 ) 

A Shares

                        

3/31/2016

     15,992        —        20,643        (106,197 )      —        (69,562 )      161,455        —        206,765        (1,074,473 )      —        (706,253 ) 

3/31/2015

     57,972        —        16,745        (329,656 )      —        (254,939 )      593,372        —        171,735        (3,374,504 )      —        (2,609,397 ) 

 

* IS Shares commenced operations on August 1, 2014 (August 3, 2015 for Seix Core Bond Fund and February 2, 2015 for Seix Floating Rate High Income Fund).

 

5. Investment Transactions

The cost of security purchases and the proceeds from sales and maturities of securities, excluding securities maturing less than one year from acquisition and U.S. government securities, for the fiscal year ended March 31, 2016, were as follows:

 

     Purchases      Sales and
Maturities		  

Seix Core Bond Fund

      $83,317,978         $143,926,797   

Seix Corporate Bond Fund

      17,616,024         28,790,961   

Seix Floating Rate High Income Fund

      1,822,420,772         3,353,171,117   

Seix Georgia Tax-Exempt Bond Fund

      50,702,173         68,843,102   

Seix High Grade Municipal Bond Fund

      166,034,983         169,042,340   

Seix High Income Fund

      520,833,374         611,214,021   

Seix High Yield Fund

      425,050,821         470,565,502   

Seix Investment Grade Tax-Exempt Bond Fund

      828,255,095         903,227,128   

Seix Limited Duration Fund

      3,190,831         3,166,389   

Seix North Carolina Tax-Exempt Bond Fund

      13,339,565         20,297,570   

Seix Short-Term Bond Fund

      9,478,202         13,713,426   

Seix Short-Term Municipal Bond Fund

      35,900,403         28,896,514   

Seix Total Return Bond Fund

      361,898,708         341,017,144   

Seix U.S. Government Securities Ultra-Short Bond Fund

      440,887,758         451,142,260   

Seix U.S. Mortgage Fund

      5,350,888         6,362,303   

Seix Ultra-Short Bond Fund

      53,546,413         98,606,747   

Seix Virginia Intermediate Municipal Bond Fund

      46,432,319         102,097,616   

 

152

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

The cost of security purchases and proceeds from sales and maturities of U.S. government securities, excluding short-term investments, for the fiscal year ended March 31, 2016, were as follows:

 

     Purchases—U.S.
Government
Securities		      Sales—U.S.
Government
Securities		  

Seix Core Bond Fund

      $456,632,051         $555,422,667   

Seix Corporate Bond Fund

      149,503         147,330   

Seix Limited Duration Fund

      —         226,245   

Seix Short-Term Bond Fund

      36,925,764         32,161,608   

Seix Total Return Bond Fund

      1,499,755,753         1,594,181,285   

Seix U.S. Government Securities Ultra-Short Bond Fund

      358,881,431         469,932,719   

Seix U.S. Mortgage Fund

      62,170,018         54,256,064   

Seix Ultra-Short Bond Fund

      10,163,307         7,722,183   

 

6. Federal Income Tax Information

The following information is presented on an income tax basis and takes into consideration differences between amounts for financial statement and income tax purposes. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature (e.g., foreign currency transactions and return of capital on securities), such amounts are reclassified within the composition of net assets based on their U.S. federal tax-basis treatment; temporary differences do not require reclassification.

The effects of certain differences reclassified as of March 31, 2016 were as follows:

 

     Paid in
Capital		     Accumulated
Net Realized
Gain (Loss)		     Undistributed
Net Investment
Income (Loss)		  

Seix Core Bond Fund

      $105,418        $(563,454 )      $458,036   

Seix Corporate Bond Fund

      —        3,040        (3,040 ) 

Seix Floating Rate High Income Fund

      —        (136,644 )      136,644   

Seix High Income Fund

      —        (150,580 )      150,580   

Seix High Yield Fund

      —        (671,319 )      671,319   

Seix Limited Duration Fund

      —        2,115        (2,115 ) 

Seix North Carolina Tax-Exempt Bond Fund

      —        (5,669 )      5,669   

Seix Short-Term Bond Fund

      —        (51,867 )      51,867   

Seix Total Return Bond Fund

      —        (2,892,784 )      2,892,784   

Seix U.S. Government Securities Ultra-Short Bond Fund

      —        (3,309,937 )      3,309,937   

Seix U.S. Mortgage Fund

      (621,703 )      415,955        205,748   

Seix Ultra-Short Bond Fund

      —        (53,923 )      53,923   

The cost of investments and aggregate gross unrealized appreciation and depreciation for securities held by the Funds as of March 31, 2016 were as follows:

 

Fund

    Tax Cost      Aggregate
Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net Unrealized
Appreciation
(Depreciation)		  

Seix Core Bond Fund

      $281,404,939         $3,992,232         $(1,208,241 )      $2,783,991   

Seix Corporate Bond Fund

      17,903,774         467,430         (371,900 )      95,530   

Seix Floating Rate High Income Fund

      4,714,220,887         10,392,605         (353,572,832 )      (343,180,227 ) 

Seix Georgia Tax-Exempt Bond Fund

      103,135,940         7,210,428         (23,332 )      7,187,096   

Seix High Grade Municipal Bond Fund

      111,739,766         5,179,237         (26,630 )      5,152,607   

Seix High Income Fund

      710,665,250         10,680,961         (63,422,796 )      (52,741,835 ) 

Seix High Yield Fund

      605,294,977         9,683,505         (39,379,173 )      (29,695,668 ) 

Seix Investment Grade Tax-Exempt Bond Fund

      625,501,846         33,825,351         (121,905 )      33,703,446   

Seix Limited Duration Fund

      6,636,488         11,001         —        11,001   

Seix North Carolina Tax-Exempt Bond Fund

      27,117,160         1,793,611         (11,465 )      1,782,146   

 

153

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Fund

    Tax Cost      Aggregate
Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net Unrealized
Appreciation
(Depreciation)		  

Seix Short-Term Bond Fund

      $53,835,048         $269,009         $(39,344 )      $229,665   

Seix Short-Term Municipal Bond Fund

      40,184,141         182,949         (4,019 )      178,930   

Seix Total Return Bond Fund

      1,208,924,251         17,631,743         (6,022,434 )      11,609,309   

Seix U.S. Government Securities Ultra-Short Bond Fund

      1,541,778,499         14,946,786         (2,300,644 )      12,646,142   

Seix U.S. Mortgage Fund

      38,585,705         495,824         —        495,824   

Seix Ultra-Short Bond Fund

      104,425,775         326,591         (165,374 )      161,217   

Seix Virginia Intermediate Municipal Bond Fund

      63,539,013         3,684,570         (14,702 )      3,669,868   

Amounts designated as “—” are $0.

The tax character of distributions paid to shareholders during the fiscal year ended March 31, 2016 was as follows:

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

Seix Core Bond Fund

      $5,472,740         $1,298,555         $—         $—         $6,771,295   

Seix Corporate Bond Fund

      670,776         271,821         —         25,678         968,275   

Seix Floating Rate High Income Fund

      267,193,754         —         —         —         267,193,754   

Seix Georgia Tax-Exempt Bond Fund

      35         —         3,197,437         —         3,197,472   

Seix High Grade Municipal Bond Fund

      1,029,211         102,216         2,517,779         —         3,649,206   

Seix High Income Fund

      47,227,116         —         —         —         47,227,116   

Seix High Yield Fund

      37,383,404         —         —         —         37,383,404   

Seix Investment Grade Tax-Exempt Bond Fund

      2,968,203         4,455,803         15,143,661         —         22,567,667   

Seix Limited Duration Fund

      17,332         —         —         —         17,332   

Seix North Carolina Tax-Exempt Bond Fund

      —         168,510         764,382         —         932,892   

Seix Short-Term Bond Fund

      350,454         —         —         —         350,454   

Seix Short-Term Municipal Bond Fund

      31,579         54,861         164,911         —         251,351   

Seix Total Return Bond Fund

      22,218,418         1,185,364         —         —         23,403,782   

Seix U.S. Government Securities Ultra-Short Bond Fund

      12,422,092         —         —         —         12,422,092   

Seix U.S. Mortgage Fund

      420,732         —         —         —         420,732   

Seix Ultra-Short Bond Fund

      924,985         —         —         —         924,985   

Seix Virginia Intermediate Municipal Bond Fund

      118,135         1,944,263         2,408,086         —         4,470,484   

 

* Net Investment income includes taxable market discount income and short-term capital gains, if any.

 

** The Funds hereby designate these amounts as Exempt Interest Dividends.

Amounts designated as “—” are $0.

The tax character of distributions paid to shareholders during the fiscal year ended March 31, 2015 was as follows:

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

Seix Core Bond Fund

      $4,241,150         $—         $—         $—         $4,241,150   

Seix Corporate Bond Fund

      1,518,635         89,129         —         —         1,607,764   

Seix Floating Rate High Income Fund

      329,521,926         —         —         —         329,521,926   

Seix Georgia Tax-Exempt Bond Fund

      42         —         3,369,698         —         3,369,740   

Seix High Grade Municipal Bond Fund

      1,210,439         —         2,142,219         —         3,352,658   

Seix High Income Fund

      63,083,214         13,711,409         —         —         76,794,623   

Seix High Yield Fund

      71,059,727         44,294,046         —         —         115,353,773   

Seix Investment Grade Tax-Exempt Bond Fund

      6,178,999         2,347,656         16,915,693         —         25,442,348   

Seix Limited Duration Fund

      11,822         —         —         —         11,822   

 

154

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

Seix North Carolina Tax-Exempt Bond Fund

      $—         $—         $881,179         $—         $881,179   

Seix Short-Term Bond Fund

      270,835         —         —         —         270,835   

Seix Short-Term Municipal Bond Fund

      274,833         22,750         156,265         —         453,848   

Seix Total Return Bond Fund

      24,212,496         —         —         —         24,212,496   

Seix U.S. Government Securities Ultra-Short Bond Fund

      13,488,002         —         —         —         13,488,002   

Seix U.S. Mortgage Fund

      191,623         —         —         —         191,623   

Seix Ultra-Short Bond Fund

      932,817         —         —         —         932,817   

Seix Virginia Intermediate Municipal Bond Fund

      21,988         995,886         3,007,134         —         4,025,008   

 

* Net Investment income includes taxable market discount income and short-term capital gains, if any.

 

** The Funds hereby designate these amounts as Exempt Interest Dividends.

Amounts designated as “—” are $0.

As of March 31, 2016 the components of distributable earnings (accumulated losses) on a federal income tax basis were as follows:

 

Fund

   Undistributed
Tax Exempt
Income		     Undistributed
Ordinary
Income		     Undistributed
Long Term
Capital Gains		     Net Unrealized
Appreciation
(Depreciation)*		     Loss
Carryforwards
and Deferrals		     Total  

Seix Core Bond Fund

     $—        $793,355        $422,874        $2,783,991        $—        $4,000,220   

Seix Corporate Bond Fund

     —        —        —        95,529        (320,096 )      (224,567 ) 

Seix Floating Rate High Income Fund

     —        22,272,734        —        (343,180,227 )      (211,971,957 )      (532,879,450 ) 

Seix Georgia Tax-Exempt Bond Fund

     433,903        —        506,608        7,187,096        —        8,127,607   

Seix High Grade Municipal Bond Fund

     189,390        1,114,762        466,803        5,152,607        —        6,923,562   

Seix High Income Fund

     —        3,368,878        —        (52,741,832 )      (78,993,481 )      (128,366,435 ) 

Seix High Yield Fund

     —        1,460,015        —        (29,695,663 )      (63,448,031 )      (91,683,679 ) 

Seix Investment Grade Tax- Exempt Bond Fund

     956,636        4,500,936        1,468,214        33,703,446        —        40,629,232   

Seix Limited Duration Fund

     —        1,910        —        11,001        (827,694 )      (814,783 ) 

Seix North Carolina Tax- Exempt Bond Fund

     —        —        164,117        1,782,146        —        1,946,263   

Seix Short-Term Bond Fund

     —        31,408        —        229,664        (1,218,910 )      (957,838 ) 

Seix Short-Term Municipal Bond Fund

     11,337        58        —        178,931        —        190,326   

Seix Total Return Bond Fund

     —        411,613        1,281,193        11,806,320        —        13,499,126   

Seix U.S. Government Securities Ultra-Short Bond Fund

     —        1,202,089        —        12,646,145        (21,679,750 )      (7,831,516 ) 

Seix U.S. Mortgage Fund

     —        37,100        —        495,824        (24,571 )      508,353   

Seix Ultra-Short Bond Fund

     —        89,560        —        161,215        (2,485,365 )      (2,234,590 ) 

Seix Virginia Intermediate Municipal Bond Fund

     161,306        407,871        939,168        3,669,868        —        5,178,213   

 

* The differences between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to tax deferral of losses on wash sales, futures contract mark to market, dividends payable, bank loan adjustments, forward contracts mark to market 988(a)(1)(b), mark to market on credit default swaps, trust adjustments and straddle loss deferrals.

Amounts designated as “—” are $0.

The Funds utilize the provisions of the federal income tax laws that provide for the carryforward of capital losses from prior years, offsetting such losses against any future realized capital gains. Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized in taxable years beginning after December 22, 2010 (“post-enactment”), may be carried forward indefinitely, and their character is retained as

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

short-term and/or long-term losses. Previously, net capital losses were carried forward for eight years and treated as short-term losses (“pre-enactment”). The Act requires that post-enactment net capital losses be used before pre-enactment net capital losses.

As of March 31, 2016, the post-enactment accumulated short-term and long-term capital loss carryforwards were as follows:

 

Fund

    Short Term      Long Term      Total  

Seix Corporate Bond Fund

      $156,102         $—         $156,102   

Seix Floating Rate High Income Fund

      40,806,533         146,126,939         186,933,472   

Seix High Income Fund

      29,363,462         49,630,019         78,993,481   

Seix High Yield Fund

      24,340,402         39,107,629         63,448,031   

Seix U.S. Government Securities Ultra-Short Bond Fund

      10,992,974         2,278,292         13,271,266   

Seix Ultra-Short Bond Fund

      237,470         231,205         468,675   

As of March 31, 2016, the pre-enactment accumulated capital loss carryforwards and expiration dates were as follows:

 

Fund

    Expiring
2017		      Expiring
2018		      Expiring
2019		      Expiring
2020		      Total  

Seix Floating Rate High Income Fund

    $ 25,038,485         $—         $—       $ —       $ 25,038,485   

Seix Limited Duration Fund*

      —         827,086         —         —         827,086   

Seix Short-Term Bond Fund

      —         1,200,277         —         —         1,200,277   

Seix U.S. Government Securities Ultra-Short Bond Fund

      —         —         8,408,484         —         8,408,484   

Seix U.S. Mortgage Fund**

      —         —         —         —        
 —
   

Seix Ultra-Short Bond Fund

      202,726         1,362,740         451,224         —         2,016,690   

 

* Of the $829,060 of capital loss carryforwards subject to limitations due to an ownership change on June 30, 2013, $1,974 was utilized, and the remaining $827,086, will expire in 2018.

 

** Of the $695,758 of capital loss carryforwards subject to limitations due to an ownership change on January 31, 2014, $74,055 was utilized, and the remaining $621,703 expired unused.

Amounts designated as “—” are $0.

Capital loss carryforwards may be applied to offset future realized capital gains and therefore may reduce future capital gain distributions.

During the fiscal year ended March 31, 2016, the following Funds utilized capital loss carryforwards as follows:

 

Fund

    Amount  

Seix Georgia Tax-Exempt Bond Fund

      $1,162,838   

Seix Limited Duration Fund

      1,974   

Seix North Carolina Tax-Exempt Bond Fund

      223,221   

Seix Short-Term Bond Fund

      1,472   

Seix U.S. Mortgage Fund

      74,055   

During the fiscal year ended March 31, 2016, the following Fund had capital loss carryforwards that expired in fiscal 2016 as follows:

 

Fund

    Amount  

Seix U.S. Mortgage Fund

      $621,703   

Net capital losses incurred after October 31, and within the taxable year are deemed to arise on the first business day of the Funds’ next fiscal year. During the fiscal year ended March 31, 2016, the following Funds had net capital losses:

 

Fund

    Short Term      Long Term     Total  

Seix Corporate Bond Fund

      $137,223         $26,771        $163,994   

Seix Limited Duration Fund

      —         608        608   

Seix Short-Term Bond Fund

      7,996         10,637        18,633   

Seix U.S. Mortgage Fund

      49,293         (24,722 )      24,571   

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

 

Pursuant to federal income tax rules applicable to regulated investment companies, the Funds may elect to treat certain capital losses between November 1 and March 31 and late year ordinary losses (i) ordinary losses between January 1 and March 31, and (ii) specified ordinary and currency losses between November 1 and March 31 as occurring on the first day of the following tax year. For the fiscal year ended March 31, 2016, any amount of losses elected as late year ordinary losses within the tax return will not be recognized for federal income tax purposes until April 1, 2016.

 

7. Reorganizations

On May 20, 2014, the Board approved the reorganization of the RidgeWorth Short-Term U.S. Treasury Securities Fund (the “Target Fund”) into the RidgeWorth U.S. Government Securities Ultra-Short Bond Fund (the “Acquiring Fund”), a separate series of the Trust. On August 1, 2014, the Acquiring Fund acquired all of the net assets of the Target Fund in a tax-free exchange of shares. The purpose of the transaction was to combine two portfolios with comparable investment objectives and strategies.

 

Target Fund

    Shares Prior to
Reorganization		      Shares
Issued by the
Acquiring
Fund		      Net Assets
Prior to
Reorganization		  

I Shares

      292,773         282,619         $2,864,452   

A Shares

      106,635         102,792         $1,041,835   

C Shares

      414,503         399,340         $4,047,460   

The appreciation (depreciation) of the acquired fund was $9,669 as of the date of the merger. The combined net assets of the Acquiring Fund immediately after the reorganization were $1,786,800,909.

Assuming the acquisition had been completed on April 1, 2014, the beginning of the reporting period of the Acquiring Fund, the Acquiring Fund’s pro forma results of operations for the fiscal year ended March 31, 2015, were as follows:

 

Net Investment Income (Loss)

      $9,708,863   

Net Realized and Unrealized Gains/Losses on Investments

      $4,096,899   

Net Increase/Decrease in Net Assets resulting from Operations

      $13,805,762   

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Target Fund that has been included in the Acquiring Fund’s Statement of Operations as of March 31, 2015.

On May 21, 2015, the Board approved the reorganization of the RidgeWorth Intermediate Bond Fund (the “Target Fund”) into the RidgeWorth Core Bond Fund (the “Acquiring Fund”), a separate series of the Trust. On August 3, 2015, the Acquiring Fund acquired all of the net assets of the Target Fund in a tax-free exchange of shares. The purpose of the transaction was to combine two portfolios with comparable investment objectives and strategies.

 

Target Fund

    Shares Prior to
Reorganization		      Shares
Issued by the
Acquiring
Fund		      Net Assets
Prior to
Reorganization		  

I Shares

      20,078,785         18,121,184         $195,102,886   

A Shares

      345,825         312,495         $3,363,629   

R Shares

      1,543         1,392         $14,994   

The appreciation (depreciation) of the acquired fund was $841,440 as of the date of the merger. The combined net assets of the Acquiring Fund immediately after the reorganization were $387,705,719.

Assuming the acquisition had been completed on April 1, 2015, the beginning of the reporting period of the Acquiring Fund, the Acquiring Fund’s pro forma results of operations for the year ended March 31, 2016, were as follows:

 

Net Investment Income (Loss)

      $5,701,046   

Net Realized and Unrealized Gains/Losses on Investments

      $(3,299,477 ) 

Net Increase/Decrease in Net Assets resulting from Operations

      $(2,401,569 ) 

 

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NOTES TO FINANCIAL STATEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

 

On May 21, 2015, the Board approved the reorganization of the RidgeWorth U.S. Government Securities Fund (the “Target Fund”) into the RidgeWorth Limited-Term Federal Mortgage Securities Fund (the “Acquiring Fund”), a separate series of the Trust. On August 1, 2015, the Acquiring Fund was renamed RidgeWorth Seix U.S. Mortgage Fund and acquired all of the net assets of the Target Fund in a taxable exchange of shares. The purpose of the transaction was to combine two portfolios with comparable investment objectives and strategies.

 

Target Fund

    Shares Prior to
Reorganization		      Shares
Issued by the
Acquiring
Fund		      Net Assets
Prior to
Reorganization		  

I Shares

      2,019,210         1,506,410         $16,905,776   

A Shares

      65,853         49,212         $551,248   

C Shares

      140,575         104,870         $1,176,793   

The appreciation (depreciation) of the acquired fund was $113,976 as of the date of the merger. The combined net assets of the Acquiring Fund immediately after the reorganization were $32,289,899.

Assuming the acquisition had been completed on April 1, 2015, the beginning of the reporting period of the Acquiring Fund, the Acquiring Fund’s pro forma results of operations for the year ended March 31, 2016, were as follows:

 

Net Investment Income (Loss)

      $(159,812 ) 

Net Realized and Unrealized Gains/Losses on Investments

      $71,615   

Net Increase/Decrease in Net Assets resulting from Operations

      $(88,197 ) 

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Target Fund that has been included in the Acquiring Fund’s Statement of Operations as of March 31, 2016.

 

8. Recently Issued Accounting Pronouncements

In May 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-07 Disclosure for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent). The amendments in ASU No. 2015-07 remove the requirement to categorize within the fair value hierarchy investments measured using the net asset value per share (“NAV”) practical expedient. The ASU also removes certain disclosure requirements for investments that qualify, but do not utilize, the NAV practical expedient. The amendments in the ASU are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Management is currently evaluating the impact these changes will have on the Fund’s financial statements and related disclosures.

 

9. Subsequent Events

Management has evaluated subsequent events through the date these financial statements were available to be issued. Management has determined that there are no material events that would require disclosure in the Funds’ financial statements through this date.

 

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

RIDGEWORTH FUNDS    March 31, 2016

 

To the Board of Trustees and Shareholders of RidgeWorth Funds:

In our opinion, the accompanying statements of assets and liabilities, including the schedules of portfolio investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Seix Core Bond Fund (formerly, “Core Bond Fund”), Seix Corporate Bond Fund (formerly, “Corporate Bond Fund”), Seix Floating Rate High Income Fund, Seix Georgia Tax-Exempt Bond Fund (formerly, “Georgia Tax-Exempt Bond Fund”), Seix High Grade Municipal Bond Fund (formerly, “High Grade Municipal Bond Fund”), Seix High Income Fund (formerly, “High Income Fund”), Seix High Yield Fund, Seix Investment Grade Tax-Exempt Bond Fund (formerly, “Investment Grade Tax-Exempt Bond Fund”), Seix Limited Duration Fund (formerly, “Limited Duration Fund”), Seix North Carolina Tax-Exempt Bond Fund (formerly, “North Carolina Tax-Exempt Bond Fund”), Seix Short-Term Bond Fund (formerly, “Short-Term Bond Fund”), Seix Short-Term Municipal Bond Fund (formerly, “Short-Term Municipal Bond Fund”), Seix Total Return Bond Fund (formerly, “Total Return Bond Fund”), Seix U.S. Government Securities Ultra-Short Bond Fund (formerly, “U.S. Government Securities Ultra-Short Bond Fund”), Seix U.S. Mortgage Fund (formerly, “Limited-Term Federal Mortgage Securities Fund”), Seix Ultra-Short Bond Fund (formerly, “Ultra-Short Bond Fund”), and Seix Virginia Intermediate Municipal Bond Fund (formerly, “Virginia Intermediate Municipal Bond Fund”) (seventeen of the funds constituting RidgeWorth Funds, collectively the “Funds”) at March 31, 2016, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at March 31, 2016 by correspondence with the custodian, transfer agent and brokers, and application of alternative auditing procedures where securities purchased had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

May 26, 2016

 

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OTHER FEDERAL TAX INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

The following Funds hereby designate the following amounts as long term capital gain distributions:

 

Fund

    Long Term
Capital
Dividend		  

Seix Core Bond Fund

      $1,298,555   

Seix Corporate Bond Fund

      271,821   

Seix High Grade Municipal Bond Fund

      102,216   

Seix Investment Grade Tax-Exempt Bond Fund

      4,455,803   

Seix North Carolina Tax-Exempt Bond Fund

      168,510   

Seix Short-Term Municipal Bond Fund

      54,861   

Seix Total Return Bond Fund

      1,185,364   

Seix Virginia Intermediate Municipal Bond Fund

      1,944,263   

For corporate shareholders, the following percentages of the total ordinary income distributions paid by the following Funds during the fiscal year ended March 31, 2016 qualify for the corporate dividends received deduction:

 

Fund

    Dividends
Received
Deductions		  

Seix Floating Rate High Income Fund

      0.07 % 

Siex High Income Fund

      1.29   

Seix High Yield Fund

      0.15   

For the fiscal year ended March 31, 2016, the following Funds paid qualified dividend income:

 

Fund

    Qualified
Dividend
Income		  

Seix Floating Rate High Income Fund

      0.07 % 

Siex High Income Fund

      1.40   

Seix High Yield Fund

      0.15   

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Set forth below are the names, age, position with the Trust, length of term of office, and the principal occupations and applicable, other directorships held during at least the last five years of each of the persons currently serving as a Trustee or Officer of the Trust. Unless otherwise noted, the address of each Trustee and officer is c/o RidgeWorth Investments®, 3333 Piedmont Road, Suite 1500, Atlanta, Georgia 30305. The Funds’ Statement of Additional Information includes more information about the Trustees and is available without charge, upon request, by calling 1-888-784-3863 and on the Funds’ website at www.ridgeworth.com.

 

Name and Age  

Position

Held With

the Trust

   Term of Office
and Length of
Time Served		  

Principal Occupation(s)

During the Past 5 Years

   Number of
Portfolios in the
RidgeWorth
Complex Overseen
by  Trustees		    

Other Directorships

Held By Trustee

During the Past

5 Years

INDEPENDENT TRUSTEE

                    

Tim E. Bentsen

(August 1953)

   Trustee   Indefinite; since 2012   Lecturer- J.M. Tull School of Accounting, Terry College of Business at University of Georgia (2013-Present); Retired. Audit Partner and Account Executive (1993-2012); Lead Area Managing Partner (2005-2009); Atlanta Office Managing Partner (2003-2009), KPMG LLP.     29      Synovus Financial Corp.: Krispy Kreme Doughnuts, Inc.

Jeffrey M. Biggar

(February 1950)

   Trustee   Indefinite; since 2007   Director of Special Gifts for Hawken School (since May 2013); Managing Director, Little Mountain Group, LLC (an independent Registered Investment Advisor consulting firm) (2011-2013); Chief Operating Officer, Cedar Brook Financial Partners LLC (2008-2010); Chief Executive Officer and Senior Managing Director, Sterling (National City Corp.) (2000-2006).     29     

Multi-Manager

Master Portfolios LLC (3 portfolios; thru 2013)

George C. Guynn

(December 1942)

   Trustee   Indefinite; since 2008   Retired. President and CEO, Federal Reserve Bank of Atlanta (1996-2006).     29      SUSA Registered Fund, LLC; Oxford Industries; Acuity Brands, Inc. (thru 2014); Multi-Manager Master Portfolios LLC (3 portfolios; thru 2013); Genuine Parts Company (thru 2015)

Sidney E. Harris

(July 1949)

   Trustee   Indefinite; since 2004   Professor and Dean Emeritus (since April 2015), Professor (1997-2014), Dean (1997-2004), J. Mack Robinson College of Business, Georgia State University.     29      Total System Services, Inc.; Multi-Manager Master Portfolios LLC (3 portfolios; thru 2013).

Connie D. McDaniel

(April 1958)

   Trustee   Indefinite; since 2005   Retired. Vice President, Chief of Internal Audit, Corporate Audit Department (2009-2013); Vice President Global Finance Transformation (2007-2009); Vice President and Controller (1999-2007), The Coca-Cola Company.     29      Total System Services, Inc.

INTERESTED TRUSTEE

                    

Ashi S. Parikh*

(February 1966)

  

Trustee

   Indefinite; since 2013   Chief Executive Officer and Chief Investment Officer, RidgeWorth Investments (2010-present); President and Chief Investment Officer (2008-2010).     29      None

 

* Mr. Parikh is an “interested person” of the Trust, as defined in the 1940 Act, because he is an employee of the Investment Adviser.

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Name, Address

and Age

  

Position(s) Held With

the Trust

   Term of Office
and Length of
Time Served		  

Principal Occupation(s)

During the Past 5 Years

Julia R. Short

(November 1972)

   President and Chief Executive Officer   One year; since 2007   Managing Director, Product Manager, RidgeWorth Investments (since 2004).

James L. Love

(December 1968)

   Chief Compliance Officer   One year; since 2016   Managing Director and Chief Compliance Officer, RidgeWorth Investments (since 2016); Chief Compliance Officer and Deputy General Counsel, U.S. Global Investors (2007-2015).

Benjamin H. Lowe

(March 1978)

   Treasurer and Chief Financial Officer   One year; since 2015  

Director of Fund Administration, RidgeWorth Investments (since 2011);

Fund Controller, ALPS Fund Services, Inc. (2005–2011).

James Bacik

State Street Bank and

Trust Co.

1 Iron Street

Boston, MA 02210

(May 1975)

   Assistant Treasurer   One year; since 2010   Vice President, State Street Bank and Trust Company (since 2001).*

Patrick J. Keniston Foreside Fund Officer Services, LLC

Three Canal Plaza, Suite 100 Portland,

ME 04101

(January 1964)

   Anti-Money Laundering Officer and Identity Theft Prevention Officer   One year; since 2013   Managing Director, Foreside Fund Officer Services, LLC (October 2008 – present).

Karen Jacoppo-Wood

State Street Bank and Trust Company

100 Huntington Avenue

Tower 2, Third Floor,

CPH0326

Boston, MA 02116

(December 1966)

   Secretary and Chief Legal Officer   One year; since 2014   Vice President and Managing Counsel, State Street Bank and Trust Company (since 2014); Vice President, RMR Advisors, Inc./RMR Funds (2007-2014).*

 

* During the period indicated the officer has held various positions at State Street Bank and Trust Company and has provided his or her current title.

 

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INVESTMENT ADVISORY AGREEMENT

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS

The continuance of the Trust’s investment advisory agreement with RidgeWorth Capital Management LLC (the “Adviser”) and subadvisory agreement between the Adviser and Seix Investment Advisors LLC (the “Subadviser”) must be specifically approved at least annually by (i) the vote of the Trustees or a vote of the shareholders of the Funds and (ii) the vote of a majority of the Trustees who are not parties to the agreements or “interested persons” of any party thereto (the “Independent Trustees”), as defined in the Investment Company Act of 1940 (the “1940 Act”), cast in person at a meeting called for the purpose of voting on such approval. New advisory agreements for the Trust are also subject to such approval initially and annually after their initial term is complete.

Each year, the Board of Trustees calls and holds a meeting to decide whether to approve the continuance of the Trust’s agreements for another year. In preparation for the meeting, the Board requests and reviews a wide variety of information from the Adviser and Subadviser. The Trustees use this information, as well as other information that the Adviser, Subadviser, and other service providers may submit to the Board, to help them decide whether to approve the agreements.

In considering the renewal of the agreements with the Adviser and Subadviser, the Board requested and received material from the Adviser and Subadviser in preparation for a special meeting of the Board held on October 8, 2015, and requested and reviewed additional material from the Adviser and Subadviser in preparation for its quarterly meeting held on November 16-17, 2015, at which it specifically considered the renewal of the agreements. Such material included, among other things, information about: (a) the quality of the Adviser’s and Subadviser’s investment management and other services; (b) the Adviser’s and Subadviser’s investment management personnel; (c) the Adviser’s and Subadviser’s operations and financial condition; (d) the Adviser’s and Subadviser’s brokerage practices (including any soft dollar arrangements) and investment strategies; (e) the level of the advisory fees that the Adviser and Subadviser charge the Funds compared with the fees they charge to comparable mutual funds or accounts; (f) the Funds’ overall fees and operating expenses compared with similar mutual funds; (g) the level of the Adviser’s and Subadviser’s profitability from their Fund-related operations; (h) the Adviser’s and Subadviser’s compliance systems; (i) the Adviser’s and Subadviser’s policies and procedures for personal securities transactions; (j) the Adviser’s and Subadviser’s reputation, expertise, and resources in domestic financial markets; and (k) the Funds’ performance compared with similar mutual funds. The Board also received a memorandum from fund counsel regarding the responsibilities of the Trustees in connection with their consideration of the agreements.

At the meetings, representatives from the Adviser and Subadviser presented additional oral and written information to the Board to help the Board evaluate the Adviser’s and Subadviser’s fees and other aspects of the agreements. The Board also considered information presented by the Adviser, Subadviser, and other service providers at meetings held throughout the year. The Trustees discussed the written materials, oral presentations, and any other information that the Board received, and considered the approval of the agreements in light of this information.

Based on the Board’s deliberations and evaluation of the information it received, the Board, all of whose members are Independent Trustees, approved the renewal of the agreements with the Adviser and Subadviser and determined that the compensation under the agreements is fair and reasonable in light of the services to be performed. The Board considered the following specific factors, none of which was controlling, and made the following conclusions:

Nature, Extent, and Quality of Services.    The Board received and considered information regarding the nature, extent, and quality of services provided to the Funds by the Adviser and Subadviser. In this regard, the Trustees evaluated, among other things, the Adviser’s and Subadviser’s personnel, experience, track record, and compliance program. The Board considered the background and experience of the Adviser’s and Subadviser’s senior management and the expertise of, and amount of attention given to the Funds by, their portfolio management teams. The Board reviewed the qualifications and backgrounds of the portfolio managers responsible for the day-to-day management of the Funds. The Board also reviewed information pertaining to the Adviser’s and Subadviser’s organizational structure, senior management, investment operations, and other relevant information. The Board concluded that, within the context of its full deliberations, the nature, extent, and quality of the services provided to the Funds by the Adviser and Subadviser supported the approval of the agreements.

 

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INVESTMENT ADVISORY AGREEMENT  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Performance.    The Board considered the investment performance of each Fund, including any periods of outperformance and underperformance, both on an absolute basis and a comparative basis to indices and other funds within the same investment categories. Specifically, the Board considered Fund performance relative to peer groups and appropriate benchmarks in light of total return, yield, and market trends. As part of this review, the Board considered the composition of the peer group and selection criteria, as well as market risk and shareholder risk expectations. The Board considered the Adviser’s and Subadviser’s explanations regarding specific performance issues. The Board concluded that, within the context of its full deliberations, the performance of the Funds, the Adviser, and the Subadviser supported the approval of the agreements.

Fund Expenses.    With respect to advisory fees, the Board considered the rate of compensation under the agreements and each Fund’s net operating expense ratio in comparison to those of comparable mutual funds. The Trustees also considered information about average expense ratios of comparable mutual funds in each Fund’s peer group. Finally, the Trustees considered the effect of the Adviser’s and Subadviser’s waiver and reimbursement of fees and expenses, where applicable, to prevent total expenses from exceeding a specified amount and that, due to these waivers and reimbursements, net operating expenses have been maintained at competitive levels. The Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported the approval of the agreements.

Profitability.    The Board reviewed information about the profitability of the Funds to the Adviser and Subadviser and considered whether the level of profitability, if any, was reasonable and justified in light of the quality of the services rendered to the Funds. The Board concluded that, within the context of its full deliberations, the profitability of the Adviser and Subadviser is within the range the Board considered reasonable.

Economies of Scale.    The Board considered the existence of economies of scale and whether they were passed along to Fund shareholders through a graduated advisory fee schedule or other means, including any fee waivers and expense reimbursements by the Adviser and Subadviser. The Board concluded that, within the context of its full deliberations, the Funds obtain reasonable benefit from economies of scale.

 

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Table of Contents

ADDITIONAL INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Expense Examples

As a shareholder of the RidgeWorth Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases; and (2) ongoing costs, including management fees, 12b-1 distribution and/or service fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the RidgeWorth Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2015 through March 31, 2016.

Actual Expenses

The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

 

Fund

    Class      Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During  Period*
10/01/15-03/31/16		      Expense Ratio
During  Period**
10/01/15-03/31/16		  

Seix Core Bond Fund

      I Shares         $1,000.00         $1,020.90         $2.48         0.49 % 
     A Shares         1,000.00         1,020.20         3.23         0.64   
     R Shares         1,000.00         1,018.90         4.49         0.89   
     IS Shares         1,000.00         1,021.60         1.97         0.39   

Seix Corporate Bond Fund

      I Shares         1,000.00         1,026.90         3.55         0.70   
     A Shares         1,000.00         1,025.60         4.81         0.95   
     C Shares         1,000.00         1,022.10         8.34         1.65   

Seix Floating Rate High Income Fund

      I Shares         1,000.00         994.80         3.09         0.62   
     A Shares         1,000.00         993.40         4.58         0.92   
     C Shares         1,000.00         990.50         7.51         1.51   
     IS Shares         1,000.00         995.40         2.54         0.51   

Seix Georgia Tax-Exempt Bond Fund

      I Shares         1,000.00         1,030.00         3.30         0.65   
     A Shares         1,000.00         1,029.50         3.86         0.76   

Seix High Grade Municipal Bond Fund

      I Shares         1,000.00         1,034.30         3.31         0.65   
     A Shares         1,000.00         1,032.70         4.07         0.80   

Seix High Income Fund

      I Shares         1,000.00         1,004.60         4.01         0.80   
     A Shares         1,000.00         1,001.70         5.20         1.04   
     R Shares         1,000.00         1,000.80         6.15         1.23   
     IS Shares         1,000.00         1,005.40         12.63         2.52   

Seix High Yield Fund

      I Shares         1,000.00         992.60         3.09         0.62   
     A Shares         1,000.00         991.80         4.13         0.83   
     R Shares         1,000.00         990.60         5.08         1.02   

Seix Investment Grade Tax-Exempt Bond Fund

      I Shares         1,000.00         1,027.40         3.29         0.65   
     A Shares         1,000.00         1,027.50         4.06         0.80   

Seix Limited Duration Fund

      I Shares         1,000.00         1,001.70         1.75         0.35   

Seix North Carolina Tax-Exempt Bond Fund

      I Shares         1,000.00         1,029.20         3.30         0.65   
     A Shares         1,000.00         1,027.40         4.21         0.83   

Seix Short-Term Bond Fund

      I Shares         1,000.00         1,004.60         3.01         0.60   
     A Shares         1,000.00         1,004.60         4.01         0.80   
     C Shares         1,000.00         1,001.00         6.65         1.33   

Seix Short-Term Municipal Bond Fund

      I Shares         1,000.00         1,003.00         2.40         0.48   
     A Shares         1,000.00         1,002.10         3.30         0.66   

Seix Total Return Bond Fund

      I Shares         1,000.00         1,019.90         2.32         0.46   
     A Shares         1,000.00         1,019.20         3.58         0.71   
     R Shares         1,000.00         1,017.80         5.30         1.05   
     IS Shares         1,000.00         1,020.60         1.57         0.31   

Seix U.S. Government Securities Ultra-Short Bond Fund

      I Shares         1,000.00         998.20         2.10         0.42   

Seix U.S. Mortgage Fund

      I Shares         1,000.00         1,015.20         3.53         0.70   
     A Shares         1,000.00         1,014.10         4.53         0.90   
     C Shares         1,000.00         1,010.30         8.29         1.65   

 

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ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Fund

    Class      Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During Period*
10/01/15-03/31/16		      Expense Ratio
During Period**
10/01/15-03/31/16		  

Seix Ultra-Short Bond Fund

      I Shares         $1,000.00         $1,004.40         $1.60         0.32 % 

Seix Virginia Intermediate Municipal Bond Fund

      I Shares         1,000.00         1,028.10         3.30         0.65   
     A Shares         1,000.00         1,027.50         3.90         0.77   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year.

 

** Annualized.

Hypothetical Example

The table below provides information about hypothetical account values and hypothetical expenses based on each RidgeWorth Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

Fund

    Class     Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During  Period*
010/01/15-03/31/16		      Expense Ratio
During  Period**
010/01/15-03/31/16		  

Seix Core Bond Fund

      I Shares        $1,000.00         $1,022.60         $2.48         0.49 % 
     A Shares        1,000.00         1,021.80         3.23         0.64   
     R Shares        1,000.00         1,020.60         4.50         0.89   
     IS Shares ***      1,000.00         1,023.05         1.97         0.39   

Seix Corporate Bond Fund

      I Shares        1,000.00         1,021.50         3.54         0.70   
     A Shares        1,000.00         1,020.30         4.80         0.95   
     C Shares        1,000.00         1,016.80         8.32         1.65   

Seix Floating Rate High Income Fund

      I Shares        1,000.00         1,021.90         3.13         0.62   
     A Shares        1,000.00         1,020.40         4.65         0.92   
     C Shares        1,000.00         1,017.50         7.62         1.51   
     IS Shares        1,000.00         1,022.45         2.58         0.51   

Seix Georgia Tax-Exempt Bond Fund

      I Shares        1,000.00         1,021.80         3.29         0.65   
     A Shares        1,000.00         1,021.20         3.84         0.76   

Seix High Grade Municipal Bond Fund

      I Shares        1,000.00         1,021.80         3.29         0.65   
     A Shares        1,000.00         1,021.00         4.04         0.80   

Seix High Income Fund

      I Shares        1,000.00         1,021.00         4.04         0.80   
     A Shares        1,000.00         1,019.80         5.25         1.04   
     R Shares        1,000.00         1,018.90         6.21         1.23   
     IS Shares        1,000.00         1,012.40         12.68         2.52   

Seix High Yield Fund

      I Shares        1,000.00         1,021.90         3.13         0.62   
     A Shares        1,000.00         1,020.90         4.19         0.83   
     R Shares        1,000.00         1,019.90         5.15         1.02   

Seix Investment Grade Tax-Exempt Bond Fund

      I Shares        1,000.00         1,021.80         3.29         0.65   
     A Shares        1,000.00         1,021.00         4.04         0.80   

Seix Limited Duration Fund

      I Shares        1,000.00         1,023.30         1.77         0.35   

Seix North Carolina Tax-Exempt Bond Fund

      I Shares        1,000.00         1,021.80         3.29         0.65   
     A Shares        1,000.00         1,020.90         4.19         0.83   

Seix Short-Term Bond Fund

      I Shares        1,000.00         1,022.00         3.03         0.60   
     A Shares        1,000.00         1,021.00         4.04         0.80   
     C Shares        1,000.00         1,018.40         6.71         1.33   

Seix Short-Term Municipal Bond Fund

      I Shares        1,000.00         1,022.60         2.43         0.48   
     A Shares        1,000.00         1,021.70         3.34         0.66   

Seix Total Return Bond Fund

      I Shares        1,000.00         1,022.70         2.33         0.46   
     A Shares        1,000.00         1,021.50         3.59         0.71   
     R Shares        1,000.00         1,019.80         5.30         1.05   
     IS Shares        1,000.00         1,023.45         1.57         0.31   

 

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ADDITIONAL INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2016

(Unaudited)

 

Fund

    Class      Beginning
Account Value
10/01/15		      Ending
Account Value
03/31/16		      Expenses Paid
During Period*
010/01/15-03/31/16		      Expense Ratio
During Period**
010/01/15-03/31/16		  

Seix U.S. Government Securities Ultra-Short Bond Fund

      I Shares         $1,000.00         $1,022.90         $2.12         0.42 % 

Seix U.S. Mortgage Fund

      I Shares         1,000.00         1,021.50         3.54         0.70   
     A Shares         1,000.00         1,020.50         4.55         0.90   
     C Shares         1,000.00         1,016.80         8.32         1.65   

Seix Ultra-Short Bond Fund

      I Shares         1,000.00         1,023.40         1.62         0.32   

Seix Virginia Intermediate Municipal Bond Fund

      I Shares         1,000.00         1,021.80         3.29         0.65   
     A Shares         1,000.00         1,021.20         3.89         0.77   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year.

 

** Annualized.

 

*** IS Shares for Seix Core Bond Fund commenced operations on August 3, 2015. Expenses (hypothetical expenses if IS Shares had been in existence from April 1, 2015) are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 183 (the number of days in the most recent six-month period), then divided by 366.

Proxy Voting Information

Information regarding the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1-888-784-3863. The information also is included in the Funds’ Statement of Additional Information, which is available on the Funds’ website at www.ridgeworth.com and on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Information relating to how each Fund voted proxies relating to portfolio securities held during the most recent twelve months ended June 30 is available on the Funds’ website at www.ridgeworth.com and on the SEC’s website at www.sec.gov.

Quarterly Portfolio Holdings Information

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available free of charge on the SEC’s website at www.sec.gov. You may also review or, for a fee, copy those documents by visiting the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330.

 

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INVESTMENT ADVISER:

RidgeWorth Investments

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.ridgeworth.com

INVESTMENT SUBADVISER:

Seix Investment Advisors LLC

One Maynard Drive

Suite 3200

Park Ridge, NJ USA 07656

www.seixadvisors.com

This information must be preceded or accompanied by a current prospectus for each Fund described. Before investing, investors should carefully read the prospectus or summary prospectus and consider the fund’s investment objectives, risks, charges and expenses. Please call 888.784.3863 or visit ridgeworth.com to obtain a prospectus or summary prospectus, which contains this and other information about the funds.

DISTRIBUTOR:

RIDGEWORTH DISTRIBUTORS LLC

 

LOGO

RFAR-FI-0316

 

LOGO

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Item 2. Code of Ethics.

 

(a) RidgeWorth Funds (the “Registrant”) has adopted a Code of Ethics that applies to the Registrant’s principal executive officer and principal financial officer.

 

(b) No disclosures are required by this Item 2(b).

 

(c) The Registrant has not made any amendments to its Code of Ethics during the reporting period for this Form N-CSR.

 

(d) There have been no waivers granted by the Registrant to individuals covered by the Registrant’s Code of Ethics during the reporting period for this Form N-CSR.

 

(e) Not applicable.

 

(f) A copy of the Registrant’s Code of Ethics is attached as an exhibit to this Form N-CSR.

Item 3. Audit Committee Financial Expert.

 

(a)    (1) The Board of Trustees of the Registrant has determined that the Registrant has at least one member serving on the Registrant’s Audit Committee that possesses the attributes identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as “audit committee financial expert.”

 

  (2) The names of the audit committee financial expert are Connie D. McDaniel and Tim E. Bentsen. Each audit committee financial expert has been deemed to be “independent” as that term is defined in Item 3(a)(2) of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

(a)    Audit Fees – The aggregate fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the Registrant for the annual audit of the Registrant’s financial statements or services normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years are set forth below.

 

     March 31, 2016    March 31, 2015

Audit Fees

    $474,230    $483,490

(b)    Audit-Related Fees – The aggregate fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the Registrant for assurance and related services rendered by the principal accountant to the Registrant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item 4 are set forth below.

 

     March 31, 2016    March 31, 2015

Audit-Related Fees

    $0    $0

There were no fees billed for the last two fiscal years ended March 31 for assurance and related services rendered by the principal accountant to the investment adviser that are reasonably related to the performance of the audit of the Registrant’s financial statements that were required to be pre-approved by the Audit Committee as described in paragraph (e)(1) of this Item 4.

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(c)    Tax Fees – The aggregate fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the Registrant for tax compliance, tax advice and tax planning are set forth below. The principal accountant is engaged to review and sign the Federal Income and Excise returns, along with reviewing excise distributions.

 

     March 31, 2016    March 31, 2015

Tax Fees

    $177,364    $186,500

There were no fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the investment adviser for tax compliance, tax advice and tax planning that were required to be pre-approved by the Audit Committee as described in paragraph (e)(1) of this Item 4.

(d)    All Other Fees – The aggregate fees billed for the last two fiscal years ended March 31 for products and services provided by the principal accountant to the Registrant, other than the services reported in paragraphs (a) – (c) of this Item 4 are set forth below.

 

     March 31, 2016    March 31, 2015

All Other Fees

    $0    $0

There were no fees billed for the last two fiscal years ended March 31 for products and services provided by the principal accountant to the investment adviser that were required to be pre-approved by the Audit Committee as described in paragraph (e)(1) of this Item 4.

(e)(1) Audit Committee’s Pre-Approval Policies and Procedures

RIDGEWORTH FUNDS

Audit and Non-Audit Services Pre-Approval Policy

 

I. Statement of Principles

As set forth in the chart below, the Sarbanes-Oxley Act of 2002 (the “Act”), and rules adopted by the Securities and Exchange Commission (“SEC”) require that the Audit Committee of the Board of Trustees pre-approve all audit services and non-audit services provided to RidgeWorth Funds (the “Trust”) and its portfolios (the “Funds”) by its independent accountant (“Auditor”), as well as non-audit services provided by the Auditor to the Funds’ investment adviser and to affiliates of the adviser that provide ongoing services to the Funds (“Service Affiliates”), listed on Appendix A, if the services directly impact the Funds’ operations and financial reporting.1

Where Pre-Approval is Required

 

     Audit Service   

Non-Audit Service

Fund

    Yes    Yes

Adviser

    No    Yes, if directly related to Fund operation and financial reporting

Service Affiliate

    No    Yes, if directly related to Fund operation and financial reporting

 

 

 

1  The Audit Committee also is permitted to ratify the provision of inadvertent non-audit services, but only if:
¡ the value of all such services do not exceed 5% of total revenues paid by the Trust and Service Affiliates to the Auditor in the fiscal year when services are provided;
¡ the services were not recognized as non-audit services at the time they were provided; and
¡ the services are promptly brought to the attention of the Audit Committee and approved prior to the completion of the audit.

 

 

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The following policies and procedures (except Section IX) govern the ways in which the Audit Committee will pre-approve audit and various types of non-audit services that the Auditor provides to the Trust and to Service Affiliates. These policies and procedures do not apply in the case of audit services that the Auditor provides to Service Affiliates, nor do they apply to services that an audit firm other than the Auditor provides to such entities.

These policies and procedures comply with the requirements for pre-approval, but also provide a mechanism by which management of the Trust may request and secure pre-approval of audit and non-audit services in an orderly manner with minimal disruption to normal business operations. Pre-approval of non-audit services by the Auditor may be achieved through a combination of the procedures described in Section VI below.

With respect to non-audit services that may be provided to the Trust by an accounting firm other than the Auditor, the Chairperson of the Audit Committee is authorized to pre-approve such services in accordance with the procedures described in Section IX below.

 

II. Audit Services

The annual audit services engagement scope and terms will be subject to the specific pre-approval of the Audit Committee. Audit services include the annual financial statement audit (including required rating agency reviews) and other procedures required to be performed by the independent auditor to be able to form an opinion on the Trust’s financial statements. The Audit Committee will monitor the audit services engagement throughout the year and will also approve, if necessary, any changes in terms and conditions resulting from changes in audit scope, Fund structure or other items. The Audit Committee will pre-approve all audit services for the Trust.

 

III. Audit-related Services

Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of the Trust’s financial statements or that are traditionally performed by the Auditor. The Audit Committee will pre-approve all audit-related services for the Trust.

 

IV. Tax Services

Tax services to the Trust include tax compliance, tax planning and tax advice. The Audit Committee will review all proposed tax related services to assure that their provision would not impair the independence of the Auditor. The Audit Committee will pre-approve all tax services for the Trust.

 

V. All Other Services

While the SEC’s rules prohibit the Auditor from providing specific non-audit services, as listed on Appendix A, certain other types of non-audit services are permitted. Accordingly, the Audit Committee believes it may pre-approve those permissible non-audit services classified as All Other Services that it believes would not impair the independence of the Auditor, and are consistent with the SEC’s rules on auditor independence. The Audit Committee will pre-approve all other services for the Trust.

 

VI. Procedures

 

  A. Regular Pre-Approval Procedures

The Audit Committee shall pre-approve at its regularly scheduled meetings the audit, audit-related, tax and other non-audit services to be rendered by the Auditor to the Trust and those non-audit services to be rendered by the Auditor to the Service Affiliates that require pre-approval by the Audit Committee. In connection with such pre-approvals, the Auditor, or the President and/or Treasurer with the assistance of the Auditor, shall provide the Audit Committee with a report containing information about each type of service to be pre-approved at the meeting, an explanation of why the service is being performed, and projected fees.

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The Auditor shall notify the President, Treasurer, and Chairperson of the Audit Committee as soon as practicable regarding its engagement to provide Fund-related non-audit services to Service Affiliates.

 

  B. Interim Pre-Approval Procedures

If, in the opinion of the President and/or Treasurer, a proposed engagement needs to commence before the next regularly scheduled Audit Committee meeting, the Chairperson of the Audit Committee (the “Chairperson”) is authorized to pre-approve the engagement so long as the amount to be paid to the Auditor would not exceed $50,000. The President and/or Treasurer will coordinate with the Chairperson and provide to the Chairperson, with the assistance of the Auditor, information about the service to be considered for pre-approval. The Auditor may not commence the engagement under consideration until the President and/or Treasurer has indicated that pre-approval has been obtained from the Chairperson. The Chairperson will report any interim pre-approval decisions to the Audit Committee at its next regularly scheduled meeting.

 

VII. Recordkeeping

The Trust shall maintain a written record of all decisions made by the Audit Committee or by the Chairperson of the Audit Committee pursuant to these procedures, together with appropriate supporting material. In connection with the ratification of any inadvertent non-audit services, a record shall be made indicating that each of the conditions for this exception to the pre-approval requirement has been satisfied.

 

VIII. Amendment

The Audit Committee may review and amend these policies and procedures from time to time as it deems appropriate.

 

IX. Interim Pre-Approval of Non-Audit Services By Other Accounting Firms

If, in the opinion of the President and/or Treasurer, a proposed engagement for non-audit services to the Trust by an accounting firm other than the Auditor needs to commence before the next regularly scheduled Audit Committee meeting, the Chairperson is authorized to pre-approve the engagement so long as the amount to be paid to the accounting firm would not exceed $50,000. The Chairperson will report any interim pre-approval decisions to the Audit Committee at its next regularly scheduled meeting.

Adopted: March 1, 2012

Appendix A

Service Affiliates Subject to Pre-Approval of Non-Audit Services

Including, but not limited to:

RidgeWorth Capital Management LLC and its subsidiaries.

Zevenbergen Capital Investments LLC

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Prohibited Non-Audit Services

 

  •   Bookkeeping or other services related to the accounting records or financial statements of the audit client;

 

  •   Financial information systems design and implementation;

 

  •   Appraisal or valuation services, fairness opinions, or contribution-in-kind reports;

 

  •   Actuarial services;

 

  •   Internal audit outsourcing services;

 

  •   Management functions or human resources;

 

  •   Broker or dealer, investment adviser, or investment banking services;

 

  •   Legal services and expert services unrelated to the audit.

(e)(2) Percentage of Services – None of the services summarized in paragraphs (b)-(d), above, were approved by the Audit Committee pursuant to Rule 2-01(c)(7)(i)(C) of Regulation S-X.

(f)     No disclosures are required by this Item 4(f).

(g)    The aggregate non-audit fees billed for the last two fiscal years ended March 31 for services rendered by the principal accountant to the Registrant are set forth below.

 

March 31, 2016

     

March 31, 2015

$161,264

      $179,000

The approximate aggregate non-audit fees billed for the last two fiscal years ended March 31 for services rendered by the Registrant’s principal accountant to the Registrant’s investment adviser, and any other entity controlling, controlled by, or under common control with the Registrant’s investment adviser that provides ongoing services to the Registrant are set forth below.

 

March 31, 2016

     

March 31, 2015

$0

      $0

Services for which the non-audit fees were billed relate principally to mortgage compliance reviews, general corporate and state and local tax assistance and accounting matters, and various strategic reporting consulting projects.

(h)     In regards to Item 4(g), the Audit Committee has considered that the provision of non-audit services that were rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

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Item 6. Schedule of Investments.

 

(a) Schedule of Investments is included as a part of the reports to shareholders filed under Item 1 of this Form N-CSR.

 

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

The Board of Trustees has not adopted formal procedures by which shareholders may recommend nominees to the Board of Trustees.

Item 11. Controls and Procedures.

(a)    The Registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b)    There were no changes in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Exhibits.

 

(a)    (1) Code of Ethics described in Item 2 is attached hereto.

 

  (2) The certifications required by Rule 30a-2(a) of the 1940 Act are attached hereto.

 

  (3) Not applicable.

(b)    The certifications required by Rule 30a-2(b) of the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

Table of Contents

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.

 

RIDGEWORTH FUNDS
By:   /s/ Julia R. Short
  Julia R. Short
  President
Date:   June 3, 2016

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:   /s/ Julia R. Short
  Julia R. Short
  President
Date:   June 3, 2016
By:   /s/ Benjamin H. Lowe
  Benjamin H. Lowe
  Treasurer
Date:   June 3, 2016