N-CSR 1 d390262dncsr.htm RIDGEWORTH FUNDS Ridgeworth Funds
Table of Contents

 

 

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    W. John McGuire, Esq.
RidgeWorth Funds    Thomas S. Harman, Esq.
3333 Piedmont Road, Suite 1500    Morgan, Lewis & Bockius LLP
Atlanta, GA 30305    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, 2017

 

 

 

Table of Contents
Item 1. Reports to Shareholders.

Table of Contents

LOGO

 

2017 ANNUAL REPORT

EQUITY FUNDS

MARCH 31, 2017

 

LOGO

 

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

Table of Contents

TABLE OF CONTENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

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

Capital Innovations Global Resources and Infrastructure Fund

     2  

Ceredex Large Cap Value Equity Fund

     4  

Ceredex Mid-Cap Value Equity Fund

     6  

Ceredex Small Cap Value Equity Fund

     8  

Innovative Growth Stock Fund

     10  

International Equity Fund

     12  

Silvant Large Cap Growth Stock Fund

     14  

Silvant Small Cap Growth Stock Fund

     16  
Allocation Strategies:   

Conservative Allocation Strategy

      18  

Growth Allocation Strategy

      20  

Moderate Allocation Strategy

      22  
Financial Statements   
Schedules of Portfolio Investments      24  
Statements of Assets and Liabilities      41  
Statements of Operations      44  
Statements of Changes in Net Assets      47  
Financial Highlights      51  
Notes to Financial Statements      57  
Report of Independent Registered Public Accounting Firm      79  
Other Information   
Other Federal Tax Information      80  
Trustees and Officers of the RidgeWorth Funds      82  
Annual Approval of Investment Advisory and Subadvisory Agreements      84  
Additional Information      88  

 

Table of Contents

LETTER TO SHAREHOLDERS

 

RIDGEWORTH FUNDS    March 31, 2017

 

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 are grateful you have placed your confidence in us. We aim to earn your trust through competitive investment performance and excellent client service, and strive to exceed your expectations in both areas.

We are pleased to announce our plans to be acquired by Virtus Investment Partners, Inc., which is expected to be finalized in the second quarter of this year. We believe the transaction will provide strength and continuity for our investors, who will continue to partner with the same investment teams they have come to know through their relationship with RidgeWorth. In addition, clients will benefit from a combined company that can deliver an enhanced level of support and more resources to our investors. We look forward to continuing to serve as your asset manager in the months and years to come.

The past year saw a transition from an environment of sluggish growth, and heightened geopolitical uncertainty to one characterized by diminishing downside risks, steadied earnings growth, and rising consumer and business confidence. In short, despite all of the headline volatility, the backdrop for investing improved.

The U.S. economy began this past year battling the negative effects of a strong U.S. dollar and weak oil prices, as well as geopolitical unrest and slowing growth in China. The U.K.’s vote to leave the European Union contributed to heightened volatility. However, on the positive side, moderate job growth continued and housing prices recovered, which helped strengthen consumer incomes and balance sheets, and led to a further rise in consumer durables. In addition, inflation pressures were muted and the Federal Reserve erred on the side of caution and delayed its latest expected interest rate increase.

As the year progressed, oil prices recovered and the value of the dollar edged lower providing a bit of a macro tailwind to the economy and corporate earnings, while moderate job gains continued to support consumer spending. With volatility fears subsiding following the U.K. Brexit vote, evidence of a stabilizing global economy and a return of modest economic momentum in Europe, investor confidence improved. While the U.S. presidential election was one of the more turbulent ones in recent memory, the Trump victory appeared to rekindle and re-energize both consumers and businesses alike amid hopes for the growth engendering effects of lower tax rates, increased infrastructure spending, and reduced regulatory burdens. This combination of moderating headwinds, improved economic momentum, and renewed optimism regarding more pro-cyclical and stimulative fiscal policies helped lift domestic and global equity markets. Indeed, the improvement was sufficient to help prod the Federal Reserve to raise the overnight federal funds rate in December and then again in March.

Looking ahead, we believe the underlying economic fundamentals remain steady. Corporate profits are moving higher and beating expectations. The economy is improving even though the pace of growth is well short of historic averages. With improved earnings momentum, we believe the market can continue to provide reasonable risk-adjusted returns, despite relatively extended valuations.

That said, we are not entirely sanguine about the future. There is a mix of both positive and negative possibilities that are likely to evolve slowly but generate daily headline risk and market volatility. Tax cuts and tax reform are a major potential positive that we believe may only partially be priced into the markets. Repatriation of offshore corporate profits could also likely boost stock repurchase levels and provide a further lift to stock prices. Cuts in personal tax rates would increase both after tax paychecks as well as confidence.

Downside risks are also evident. The Fed’s Federal Open Market Committee (FOMC) is likely to increase short-term interest rates in the coming year. This will increase the cost of credit. Elections in France, the U.K., and Germany could affect confidence and stability in Europe. Most recently, a spike in tensions related to North Korea have eclipsed the already challenging situation in the Middle East. All of these factors (and more) could tilt market momentum to the downside. So, while we are cautiously positive, we are also aware of the multiple risks facing global growth and the markets.

Despite that uncertainty, we continue to see opportunities in the both the equity and fixed income markets. We believe that RidgeWorth’s bottom-up approach to security selection is well-positioned to capitalize on those opportunities, and we wish to thank you again for the trust and confidence you have placed in us.

Sincerely,

 

LOGO

Ashi Parikh

Chief Executive Officer, Chief Investment Officer

RidgeWorth Investments

 

1

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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.

 

 

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2017?

The Capital Innovations Global Resources and Infrastructure Fund (I Shares) delivered a 30.02% return. That compared to a 23.81% return for the S&P Global Natural Resources Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Economic conditions were favorable during the period under review, and global growth indicators showed encouraging signs. Commodity prices rose, with a rally in select base metals, energy exploration and production industries, and oil services. This environment contributed to the Fund’s positive absolute returns.

The Fund’s relative performance benefited from stock selection in the materials and energy sectors, particularly within the metals and mining industry. An overweight position in a U.S. producer of steel helped relative returns, as markets expected that policies by the new administration, led by President Donald Trump, would boost demand for steel and related products. Exposure to a Swiss mining and agricultural firm also boosted relative performance, as raw material prices rebounded and investors responded positively to the company’s efforts to strengthen its balance sheet. In addition, relative returns were helped by an overweight position in a Swiss agribusiness company. Shares of the company were buoyed by an agreement to be acquired by a Chinese chemical company.

The choice of stocks in the materials and energy sectors dragged on relative returns. The Fund was hurt by an overweight position in a Canadian gold mining firm, as gold prices fell and demand for precious metals decreased. Exposure to a multinational provider of oil drilling and rig services also detracted from relative performance, as markets anticipated a decline in offshore drilling. In addition, investment in a Canadian wood products company dragged on the Fund’s relative returns amid rising prices for raw materials and uncertainty over a softwood trade agreement between the U.S. and Canada.

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

We remain cautiously optimistic about equities, in spite of some investor anxiety about the potential for overheated markets. We expect the energy sector to benefit from moderate oil price increases and consolidation in the industry. We are also bullish on metals, but more cautious about agriculture due to its trading seasonality and barriers to entry.

Strong earnings and sales growth suggest that the fundamentals underpinning the equity market remain intact, and we expect to see more record highs throughout the year if the economy continues to expand and inflation accelerates further.

 

2

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CAPITAL INNOVATIONS GLOBAL RESOURCES AND INFRASTRUCTURE FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

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  3/31/17  
Capital Innovations Global Resources and Infrastructure Fund         1 Year      3 Year        Since
Inception		  

A Shares

    without sales charge   29.72%        1.02%          4.60%  
     with sales charge*   22.27%        –0.96%          3.23%  

C Shares

    without CDSC   28.68%        0.24%          3.80%  
     with CDSC*   27.68%        0.24%          3.80%  

I Shares

        30.02%        1.26%          4.85%  
S&P Global Natural Resources Index        23.81%        –2.84%          –1.23%  
                                
Prospectus Expense Ratio1                           Gross  
A Shares                            2.11%  
C Shares                            2.84%  
I Shares                            1.87%  

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, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

** 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.

 

Sector Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

3

Table of Contents

CEREDEX 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. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

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, 2017?

The Ceredex Large Cap Value Equity Fund (I Shares) delivered an 18.63% return. That compared to a 19.22% return for the Russell 1000 Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Stocks faced major headwinds early in the period, including fears of a global banking crisis, the fallout from the U.K.’s Brexit decision and concerns surrounding the U.S. presidential election. After the U.S. election, however, investment dynamics shifted: Investors sought out stocks with higher growth potential amid expectations that the new administration’s policies would benefit corporate and economic growth. The Fund’s absolute returns benefited from that environment.

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 overweight positions in the consumer discretionary and healthcare sectors. Relative returns were also negatively affected by exposure to a pharmaceutical company, a multinational computer technology company and a wireless telecommunications company.

The Fund benefited from individual exposure to shares of two semiconductor companies, as well as to shares of a leading technology and software company, a petroleum and natural gas company, and a holding company focused on real estate and railways.

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 industrials sectors, and underweight positions in the utilities and consumer staples sectors.

 

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CEREDEX LARGE CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Ceredex Large Cap Value Equity Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   18.31%        7.27%          11.90%          6.78%  
     with sales charge*   11.51%        5.18%          10.58%          6.14%  

C Shares

    without CDSC   17.70%        6.78%          11.34%          6.14%  
     with CDSC*   16.70%        6.78%          11.34%          6.14%  

I Shares

        18.63%        7.56%          12.20%          7.08%  

IS Shares**

        18.92%        7.82%          12.37%          7.16%  
Russell 1000® Value Index        19.22%        8.67%          13.13%          5.93%  
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.37%  
C Shares                                       1.71%  
I Shares                                       1.09%  
IS Shares                                       0.72%  

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, 2017 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.24%, 1.90%, 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

5

Table of Contents

CEREDEX 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. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

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, 2017?

For the fiscal year ended March 31, 2017, the Ceredex Mid-Cap Value Equity Fund (I Shares) delivered a 23.08% return. That compared to a 19.82% return for the Russell Midcap Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Stocks faced major headwinds early in the period, including fears of a global banking crisis, the fallout from the U.K.’s Brexit decision and concerns surrounding the U.S. presidential election. After the U.S. election, however, investment dynamics shifted: Investors sought out stocks with higher growth potential amid expectations that the new administration’s policies would benefit corporate and economic growth. The Fund’s absolute returns benefited from that environment.

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.

Stock selection in the energy, healthcare, information technology and real estate sectors boosted the Fund’s relative performance. In particular, the Fund benefited from exposure to two semiconductor companies, a bank holding company and two U.S.-based banks.

Holdings in two clothing companies, an airline, and two health services companies detracted from the Fund’s relative performance.

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 energy, healthcare and industrials sectors, and underweight positions in the utilities, real estate and consumer staples sectors.

 

6

Table of Contents

CEREDEX MID-CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Ceredex Mid-Cap Value Equity Fund   1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge     22.69%          8.12%          12.93%          8.87%  
     with sales charge*     15.60%          6.02%          11.60%          8.22%  

C Shares

    without CDSC     22.14%          7.69%          12.45%          8.25%  
     with CDSC*     21.14%          7.69%          12.45%          8.25%  

I Shares

          23.08%          8.44%          13.26%          9.18%  

IS Shares**

          23.34%          8.74%          13.44%          9.27%  
Russell Midcap® Value Index          19.82%          8.94%          14.07%          7.47%  
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           1.45%  
C Shares                                           1.78%  
I Shares                                           1.12%  
IS Shares                                           0.80%  

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, 2017 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.38%, 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

7

Table of Contents

CEREDEX 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. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

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, 2017?

The Ceredex Small Cap Value Equity Fund (I Shares) delivered a 21.15% return. That compared to a 29.37% return for the Russell 2000 Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Stocks faced major headwinds early in the period, including fears of a global banking crisis, the fallout from the U.K.’s Brexit decision and concerns surrounding the U.S. presidential election. After the U.S. election, however, investment dynamics shifted: Investors sought out stocks with higher growth potential amid expectations that the new administration’s policies would benefit corporate and economic growth. The Fund’s absolute returns benefited from that environment.

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 stock selection in the consumer discretionary, industrials and information technology sectors. Exposure to two retailers, an advertising and marketing holding company, and an insurance company dragged on relative returns. In addition, the Fund’s overweight position in the consumer discretionary sector and underweight position in the financials sector adversely affected relative returns.

Stock selection in the materials, healthcare and consumer staples sectors aided the Fund’s relative performance. In particular, relative results were boosted by holdings in a precious metals mining company, an insurance and financial services company, a global investment banking firm, a manufacturer of recreational vehicles, and a battery manufacturer. The Fund’s relative performance also benefited from underweight positions in the energy, real estate and utilities sectors.

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, energy, and financials sectors.

 

8

Table of Contents

CEREDEX SMALL CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Ceredex Small Cap Value Equity Fund   1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   20.70%        7.45%          11.87%          7.90%  
     with sales charge*   13.75%        5.36%          10.55%          7.26%  

C Shares

    without CDSC   20.35%        7.08%          11.45%          7.42%  
     with CDSC*   19.35%        7.08%          11.45%          7.42%  

I Shares

        21.15%        7.80%          12.22%          8.22%  
Russell 2000® Value Index        29.37%        7.62%          12.54%          6.09%  
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.55%  
C Shares                                       1.90%  
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 3/31/17 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2017)

as a percentage of Investments

 

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9

Table of Contents

INNOVATIVE 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, 2017?

The Innovative Growth Stock Fund (I Shares) returned 20.63%. That compared to a 16.27% return for the Russell 3000 Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Equity markets in general were buoyed by the outcome of the November presidential election and optimism for the new administration’s growth initiatives.

The Fund’s absolute returns benefited primarily from individual holdings in the consumer discretionary and healthcare sectors. Some of these holdings had performed poorly during the previous year, but rebounded sharply during the 12 months through March 31, 2017.

The Fund’s outperformance compared to the benchmark was largely driven by stock selection among consumer discretionary, healthcare and industrials companies. Individual stocks that contributed to relative results included a logistics company that benefited from enhanced execution in Europe and synergies from recent merger-and-acquisition activity. An e-commerce leader in Latin America was another major contributor. The firm’s shares were boosted by more efficient payments and shipping results. A medical diagnostics company also aided relative performance amid growing acceptance of its services by physicians and the government.

The Fund’s stock selection in financials lagged the benchmark, primarily due to poor performance of an online marketplace lending company.

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

Much of the Fund’s outpeformance this year has been driven by our patience and high conviction in stocks that had, in many cases, underperformed just 12 months before.

We continue to focus on our fundamental research discipline, searching for companies with high secular growth potential and excellent leadership to navigate an everchanging business climate. Piloting through the market’s ups and downs, we remain focused on the long term. Our vision for a company’s prospects beyond the current quarter, or even next year, can provide Fund shareholders the potential for higher returns and wealth creation.

 

10

Table of Contents

INNOVATIVE GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Innovative Growth Stock Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   20.42%        6.14%          11.75%          8.63%  
     with sales charge*   13.50%        4.06%          10.44%          8.00%  

I Shares

        20.63%        6.33%          11.96%          8.91%  
Russell 3000® Growth Index        16.27%        10.90%          13.22%          9.04%  
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.49%  
I Shares                                       1.39%  

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, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2017)

as a percentage of Investments

 

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11

Table of Contents

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. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2017?

The International Equity Fund (I Shares) returned 10.65%. That compared to a return of 13.13% for the MSCI ACWI ex-U.S. Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

On an absolute basis, the strongest returns came from the Fund’s holdings in the technology sector. Holdings in the consumer discretionary and financials sectors were also significant contributors to the Fund’s absolute returns.

Relative to the benchmark, stock selection among technology companies and an overweight allocation to that sector were meaningful contributors to relative performance. Individual holdings that benefited relative results included a Chinese Internet firm and semiconductor companies in Taiwan and the U.K.

A significant underweight position in the financials sector and an overweight weighting in the healthcare sector detracted from relative performance. The largest individual detractors during the period included a Danish pharmaceutical company and an Ireland-domiciled drugmaker. Both holdings are no longer in the Fund’s portfolio.

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

We continue to expect market volatility will be the norm. Rather than trying to predict economic or political events, we will continue to prepare for various outcome scenarios and work to identify stocks to capitalize on as opportunities emerge. Most importantly, we believe our focus on large companies with high-quality growth characteristics and the ability to navigate through uncertainty is well suited for unsettled environments such as these. We are confident that the Fund can deliver solid performance through difficult global conditions and take advantage of short-term mispricing of stocks that turmoil may create.

 

12

Table of Contents

INTERNATIONAL EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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.

 

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 3/31/17  
RidgeWorth International Equity Fund   1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   10.41%        1.05%          6.31%          1.18%  
     with sales charge*   4.06%        –0.92%          5.06%          0.58%  

I Shares

        10.65%        1.28%          6.51%          1.43%  

IS Shares**

        10.62%        1.30%          6.52%          1.43%  
Morgan Stanley MSCI ACWI Ex-U.S. Index        13.13%        0.56%          4.36%          1.35%  
                                           
Prospectus Expense Ratio1                               Gross  
A Shares                                       1.78%  
I Shares                                       1.68%  
IS Shares                                       1.55%  

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, 2017 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.48%, 1.25% and 1.10% for A, I and IS 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 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of investments

 

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13

Table of Contents

SILVANT 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.

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, 2017?

The Silvant Large Cap Growth Stock Fund (I Shares) returned 8.14%. That compared to a 15.76% return for the Russell 1000 Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Stocks benefited from improving U.S. economic data. Consumer and small-business confidence moved sharply higher and corporate earnings continued to grow. Investors responded positively to the election of Donald Trump as President. In that environment, financial stocks performed well as the Federal Reserve raised interest rates twice and investors expected the Trump administration to ease regulations in the financials sector. Energy stocks benefited from rising oil prices.

The majority of the Fund’s underperformance relative to the benchmark index was due to stock selection within the healthcare and technology sectors. The Fund’s healthcare stocks were hurt by political rhetoric over drug pricing during the presidential election cycle, illustrated by the decline of a branded and generic pharmaceutical maker. Negative clinical trial results for a large pharmaceutical maker and a biotechnology company also hampered relative results.

Within the technology sector, most of the Fund’s underperformance occurred because it did not own a position in a major consumer technology company that outperformed the benchmark by a significant amount during the period under review.

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

The market rally during the last half of the 12-month period was largely based on expectations for policy shifts from the Trump administration. However, initial efforts to pass healthcare reform failed and stocks that may benefit from tax reform, trade policy, and infrastructure spending will likely experience elevated volatility as these policy issues move through Washington. Stock fundamentals appear solid, but valuations remain at the higher end of historical norms with moderate revenue and earnings expectations. This suggests security selection may be increasingly important from both return and risk perspectives.

As such, we remain focused on bottom-up research and disciplined risk management, searching for stocks that we believe will exceed investors’ expectations. These stocks typically have positive fundamental secular trends that lead to above average growth with disruptive products or services leading to a change in business landscape. While the last 12 months have been especially difficult, the team does not react solely to price action. Instead, we invest and make decisions based on company fundamentals, and believe that many of the stocks that hurt the Fund’s relative returns in 2016 will recover.

 

14

Table of Contents

SILVANT LARGE CAP GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Silvant Large Cap Growth Stock Fund   1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   7.83%        6.61%          9.74%          7.65%  
     with sales charge*   1.58%        4.53%          8.45%          7.02%  

C Shares

    without CDSC   7.16%        5.97%          9.03%          6.93%  
     with CDSC*   6.31%        5.97%          9.03%          6.93%  

I Shares

        8.14%        6.90%          10.03%          7.95%  

IS Shares**

        8.23%        6.96%          10.06%          7.96%  
Russell 1000® Growth Index        15.76%        11.27%          13.32%          9.13%  
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.21%  
C Shares                                       1.89%  
I Shares                                       1.24%  
IS Shares                                       0.89%  

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, 2017 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.23%, 1.95%, 0.97% 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of investments

 

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15

Table of Contents

SILVANT 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. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

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, 2017?

The Silvant Small Cap Growth Stock Fund (I Shares) returned 19.45%. That compared to a 23.03% return for the Russell 2000 Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Stocks benefited from improving U.S. economic data. Consumer and small-business confidence moved sharply higher and corporate earnings continued to grow. Investors responded positively to the election of Donald Trump as President. In that environment, financial stocks performed well as the Federal Reserve raised interest rates twice and investors expected the Trump administration to ease regulations in the financials sector. Materials stocks benefited from the potential for increased infrastructure spending.

The Fund underperformed relative to the benchmark index, primarily due to stock selection within the energy and industrials sectors. Volatility in the price of oil caused the performance of the Fund’s energy holdings to differ significantly from energy stocks in the benchmark. The Fund’s focus on industrial stocks in the airline, mechanical contracting, transportation and agriculture areas also hurt results relative to the benchmark.

The Fund’s stock selection within the healthcare sector helped relative results. In particular, the Fund benefited from shares of a biotechnology firm that rose amid encouraging news for its pipeline of late-stage cancer treatments.

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

The market rally during the last half of the 12-month period was largely based on expectations for policy shifts from the Trump administration. However, initial efforts to pass healthcare reform failed and stocks that may benefit from tax reform, trade policy, and infrastructure spending will likely experience elevated volatility as these policy issues move through Washington. Stock fundamentals appear solid, but valuations remain at the higher end of historical norms with moderate revenue and earnings expectations. This suggests security selection may be increasingly important from both return and risk perspectives.

As such, we remain focused on bottom-up research and disciplined risk management, searching for stocks that we believe will exceed investors’ expectations. These stocks typically have positive fundamental secular trends that lead to above average growth with disruptive products or services leading to a change in business landscape. While the last 12 months have been challenging, the team does not react solely to price action. Instead, we invest and make decisions based on company fundamentals, and believe that many of the stocks that hurt the Fund’s relative returns in 2016 will recover.

 

16

Table of Contents

SILVANT SMALL CAP GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Silvant Small Cap Growth Stock Fund   1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   19.30%        2.50%          9.11%          6.06%  
     with sales charge*   12.51%        0.50%          7.83%          5.43%  

C Shares

    without CDSC   18.39%        1.81%          8.39%          5.34%  
     with CDSC*   17.53%        1.81%          8.39%          5.34%  

I Shares

        19.45%        2.58%          9.21%          6.26%  

IS Shares**

        19.82%        2.82%          9.36%          6.34%  
Russell 2000® Growth Index   23.03%        6.72%          12.10%          8.06%  
                                           
Prospectus Expense Ratio1                               Gross  
A Shares                                       1.37%  
C Shares                                       2.02%  
I Shares                                       1.39%  
IS Shares                                       1.02%  

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, 2017 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 1.50%, 2.15%, 1.30% and 1.10% 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of Investments

 

LOGO

 

 

17

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, 2017?

The RidgeWorth Conservative Allocation Strategy (I Shares) returned 5.66% compared to a 6.84% return for the Lipper Mixed-Asset Target Allocation (Conservative Classification)*, and a 5.27% return for its hybrid benchmark made up of a 30% weighting in the S&P 500 Index and a 70% weighting in the Bloomberg Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

RidgeWorth Investments manages three 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.

Equity markets advanced during the 12-month period due in part to improving economic conditions and investor expectations for greater economic expansion under the new presidential administration. After a period of relatively tepid growth, both U.S. and global economies showed signs of strengthening, a development that prompted the Federal Reserve to raise interest rates in December and again in March. Stocks rallied in the second half of the period amid hopes that proposals to ease regulations and implement more pro-economic policies in Washington, D.C., would drive companies’ future earnings.

In that environment, equities soundly outperformed fixed income securities, led by the performance of small- and mid-cap stocks. The Fund benefited from its sizable overweight in equities, as well as from its exposure to small- and mid-cap positions. Investments in large-cap stocks and developed and emerging market international stocks hurt relative results. However, late in the period, we increased exposure to developed and emerging international equities. We also favored pro-cyclical ETF positions over defensively oriented sectors.

Among fixed income holdings, the Fund’s exposure to credit-oriented issues and a shorter-than-benchmark duration position benefited relative results. We increased the Fund’s cash position toward the end of the period in response to elevated valuations and increased volatility.

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

Over the next quarter, we expect markets to react to uncertainty over a variety of issues, from corporate earnings and the progress of policy, to potential geopolitical events. Regardless, we see a number of encouraging signs for stocks going forward: Steady job and wage growth, a recovering housing market, stabilizing oil prices, and improving economic momentum overseas all give us reason to remain cautiously positive about equities. To that end, the Fund will maintain a moderately overweight allocation to equities relative to its benchmarks.

 

* 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.

 

18

Table of Contents

CONSERVATIVE ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Conservative Allocation Strategy         1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   5.28%        2.99%          4.27%          5.02%  
     with sales charge*   0.27%        1.33%          3.26%          4.51%  

C Shares

    without CDSC   4.61%        2.30%          3.54%          4.28%  
     with CDSC*   3.61%        2.30%          3.54%          4.28%  

I Shares

        5.66%        3.33%          4.57%          5.33%  
Hybrid 30/70 Blend Index (30% of the S&P 500 Index, 70% of the Barclays U.S. Aggregate Bond Index)   5.27%        5.06%          5.65%          5.50%  
S&P 500 Index        17.17%        10.37%          13.30%          7.51%  
Barclays U.S. Aggregate Bond Index        0.44%        2.68%          2.34%          4.27%  
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.13%  
C Shares                                       1.78%  
I Shares                                       0.90%  

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, 2017 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 0.46% 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% 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of Investments

 

LOGO

 

 

19

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, 2017?

The RidgeWorth Growth Allocation Strategy (I Shares) returned 10.83% compared to a 11.16% return for the Lipper Mixed-Asset Target Allocation (Growth Classification)*, and a 11.96% return for its hybrid benchmark made up of a 70% weighting in the S&P 500 Index and a 30% weighting in the Bloomberg Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

RidgeWorth Investments manages three 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.

Equity markets advanced during the 12-month period due in part to improving economic conditions and investor expectations for greater economic expansion under the new presidential administration. After a period of relatively tepid growth, both U.S. and global economies showed signs of strengthening, a development that prompted the Federal Reserve to raise interest rates in December and again in March. Stocks rallied in the second half of the period amid hopes that proposals to ease regulations and implement more pro-economic policies in Washington, D.C., would drive companies’ future earnings.

In that environment, equities soundly outperformed fixed income securities, led by the performance of small- and mid-cap stocks. The Fund benefited from its sizable overweight in equities, as well as from its exposure to small- and mid-cap positions. Investments in large-cap stocks and developed and emerging market international stocks hurt relative results. However, late in the period, we increased exposure to developed and emerging international equities. We also favored pro-cyclical ETF positions over defensively oriented sectors.

Among fixed income holdings, the Fund’s exposure to credit-oriented issues and a shorter-than-benchmark duration position benefited relative results. We increased the Fund’s cash position toward the end of the period in response to elevated valuations and increased volatility.

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

Over the next quarter, we expect markets to react to uncertainty over a variety of issues, from corporate earnings and the progress of policy, to potential geopolitical events. Regardless, we see a number of encouraging signs for stocks going forward: Steady job and wage growth, a recovering housing market, stabilizing oil prices, and improving economic momentum overseas all give us reason to remain cautiously positive about equities. To that end, the Fund will maintain a moderately overweight allocation to equities relative to its benchmarks.

 

* 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.

 

20

Table of Contents

GROWTH ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Growth Allocation Strategy   1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge   10.66%        4.48%          7.20%          5.16%  
     with sales charge**   4.34%        2.44%          5.94%          4.53%  

C Shares*

    without CDSC   10.00%        3.84%          6.54%          4.44%  
     with CDSC**   9.00%        3.84%          6.54%          4.44%  

I Shares

        10.83%        4.69%          7.42%          5.41%  
Hybrid 70/30 Blend Index (70% of the S&P 500 Index, 30% of the Barclays U.S. Aggregate Bond Index)   11.96%        8.14%          10.04%          6.80%  
S&P 500 Index        17.17%        10.37%          13.30%          7.51%  
Barclays U.S. Aggregate Bond Index   0.44%        2.68%          2.34%          4.27%  
                                      
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.33%  
C Shares                                       1.97%  
I Shares                                       1.36%  

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, 2017 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 0.66% 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 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of Investments

 

LOGO

 

 

21

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, 2017?

The RidgeWorth Moderate Allocation Strategy (I Shares) returned 8.08% compared to a 9.86% return for the Lipper Mixed-Asset Target Allocation (Moderate Classification)*, and a 8.58% return for its hybrid benchmark made up of a 50% weighting in the S&P 500 Index and a 50% weighting in the Bloomberg Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

RidgeWorth Investments manages three 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.

Equity markets advanced during the 12-month period due in part to improving economic conditions and investor expectations for greater economic expansion under the new presidential administration. After a period of relatively tepid growth, both U.S. and global economies showed signs of strengthening, a development that prompted the Federal Reserve to raise interest rates in December and again in March. Stocks rallied in the second half of the period amid hopes that proposals to ease regulations and implement more pro-economic policies in Washington, D.C., would drive companies’ future earnings.

In that environment, equities soundly outperformed fixed income securities, led by the performance of small- and mid-cap stocks. The Fund benefited from its sizable overweight in equities, as well as from its exposure to small- and mid-cap positions. Investments in large-cap stocks and developed and emerging market international stocks hurt relative results. However, late in the period, we increased exposure to developed and emerging international equities. We also favored pro-cyclical ETF positions over defensively oriented sectors.

Among fixed income holdings, the Fund’s exposure to credit-oriented issues and a shorter-than-benchmark duration position benefited relative results. We increased the Fund’s cash position toward the end of the period in response to elevated valuations and increased volatility.

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

Over the next quarter, we expect markets to react to uncertainty over a variety of issues, from corporate earnings and the progress of policy, to potential geopolitical events. Regardless, we see a number of encouraging signs for stocks going forward: Steady job and wage growth, a recovering housing market, stabilizing oil prices, and improving economic momentum overseas all give us reason to remain cautiously positive about equities. To that end, the Fund will maintain a moderately overweight allocation to equities relative to its benchmarks.

 

* 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.

 

22

Table of Contents

MODERATE ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
RidgeWorth Moderate Allocation Strategy      1 Year      3 Year        5 Year        10 Year  

A Shares

    without sales charge      7.84%        3.67%          5.73%          4.99%  
     with sales charge**      1.64%        1.65%          4.48%          4.38%  

C Shares*

    without CDSC      7.12%        3.07%          5.10%          4.31%  
     with CDSC**      6.13%        3.07%          5.10%          4.31%  

I Shares

           8.08%        3.85%          5.90%          5.24%  
Hybrid 50/50 Blend Index (50% of the Barclays U.S. Aggregate Bond Index, 50% of the S&P 500 Index )      8.58%        6.62%          7.85%          6.20%  
S&P 500 Index      17.17%        10.37%          13.30%          7.51%  
Barclays U.S. Aggregate Bond Index           0.44%        2.68%          2.34%          4.27%  
                                              
Prospectus Expense Ratio1                                  Gross  
A Shares                                          1.24%  
C Shares                                          1.82%  
I Shares                                          1.13%  

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, 2017 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 0.56% 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 3/31/17 expense ratios can be found in the financial highlights.

 

Sector Weightings (as of March 31, 2017)

as a percentage of Investments

 

LOGO

 

 

23

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Capital Innovations Global Resources and Infrastructure Fund

 

     Shares      Value($)  
Common Stocks 97.5%  

Consumer Staples 3.7%

 

Archer-Daniels-Midland Co.

     2,330        107,273  

Bunge Ltd.

     685        54,293  

Mondelez International, Inc., Cl A

     4,120        177,490  
    

 

 

  
       339,056  
    

 

 

  

Energy 39.8%

 

Anadarko Petroleum Corp.

     2,825        175,150  

BP PLC SP ADR

     3,315        114,434  

Canadian Natural Resources Ltd.

     2,109        69,154  

Cheniere Energy, Inc.*

     2,230        105,412  

Chevron Corp.

     1,290        138,507  

CNOOC Ltd. SP ADR(a)

     625        74,875  

ConocoPhillips

     910        45,382  

CONSOL Energy, Inc.*

     4,310        72,322  

Eni SpA SP ADR

     2,070        67,751  

EOG Resources, Inc.

     705        68,773  

Exxon Mobil Corp.

     2,200        180,422  

Fairmount Santrol Holdings, Inc.*(a)

     11,170        81,876  

Gazprom PJSC SP ADR

     15,080        67,785  

Halliburton Co.

     3,620        178,140  

Lukoil PJSC SP ADR

     875        46,428  

Marathon Petroleum Corp.

     2,775        140,248  

Nabors Industries Ltd.

     10,875        142,136  

PetroChina Co. Ltd. ADR

     500        36,625  

Petroleo Brasileiro SA SP ADR*

     4,995        48,402  

Pioneer Natural Resources Co.

     925        172,263  

PrairieSky Royalty Ltd.(a)

     20        422  

Range Resources Corp.

     3,145        91,519  

Royal Dutch Shell PLC SP ADR, Cl A

     4,455        234,912  

Schlumberger Ltd.

     1,620        126,522  

Suncor Energy, Inc.

     6,100        187,575  

Tenaris SA ADR

     1,650        56,331  

Tesoro Corp.

     1,580        128,075  

Total SA SP ADR

     4,524        228,100  

Transocean Ltd.*(a)

     3,340        41,583  

Ultrapar Participacoes SA SP ADR

     4,235        96,262  

Valero Energy Corp.

     1,360        90,154  

Weatherford International PLC*(a)

     27,830        185,069  

Whiting Petroleum Corp.*

     14,030        132,724  
    

 

 

  
       3,625,333  
    

 

 

  

Financials 2.0%

 

Weyerhaeuser Co., REIT

     5,210        177,036  
    

 

 

  

Health Care 0.9%

 

Bayer AG SP ADR

     670        77,264  
    

 

 

  

Industrials 2.8%

 

Deere & Co.(a)

     1,270        138,252  

Grupo Aeroportuario del Sureste SAB de CV ADR

     375        64,965  

Kansas City Southern

     635        54,458  
    

 

 

  
       257,675  
    

 

 

  
     Shares      Value($)  

Materials 48.3%

 

Agrium, Inc.

     500        47,775  

Air Products & Chemicals, Inc.

     765        103,497  

Albemarle Corp.

     1,375        145,255  

Alcoa Corp.

     3,998        137,531  

Anglo American PLC*

     12,700        194,045  

ArcelorMittal*

     22,310        186,288  

Barrick Gold Corp.

     7,655        145,368  

BHP Billiton Ltd. SP ADR(a)

     6,505        236,262  

CF Industries Holdings, Inc.(a)

     4,860        142,641  

E.I. du Pont de Nemours & Co.

     1,180        94,789  

First Quantum Minerals Ltd.

     11,000        116,878  

Freeport-McMoRan, Inc.*(a)

     7,900        105,544  

Glencore PLC*

     86,200        338,202  

Goldcorp, Inc.(a)

     4,430        64,634  

International Paper Co.

     555        28,183  

KapStone Paper and Packaging Corp.

     6,625        153,038  

Monsanto Co.

     2,540        287,528  

Newmont Mining Corp.

     3,780        124,589  

Nucor Corp.

     1,770        105,704  

Packaging Corp. of America

     600        54,972  

Platinum Group Metals Ltd.*(a)

     17,460        28,460  

Potash Corp. of Saskatchewan, Inc.

     4,610        78,739  

Randgold Resources Ltd. ADR

     175        15,274  

Rio Tinto PLC SP ADR

     2,890        117,565  

Silver Wheaton Corp.(a)

     2,940        61,270  

Smurfit Kappa Group PLC

     3,340        88,757  

Southern Copper Corp.

     2,545        91,340  

Steel Dynamics, Inc.

     5,580        193,961  

Syngenta AG ADR

     2,360        208,860  

Teck Resources Ltd., Cl B(a)

     2,670        58,473  

Turquoise Hill Resources Ltd.*

     16,000        49,120  

United States Steel Corp.

     4,910        166,007  

Vale SA SP ADR

     17,000        161,500  

Vulcan Materials Co.

     1,150        138,552  

West Fraser Timber Co. Ltd.

     1,630        68,174  

WestRock Co.

     1,110        57,753  
    

 

 

  
       4,396,528  
    

 

 

  

Total Common Stocks
(Cost $8,208,903)

        8,872,892  
    

 

 

  

Money Market Funds 5.1%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(b)

     190,308        190,308  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(b)(c)

     275,536        275,536  
    

 

 

  

Total Money Market Funds
(Cost $465,844)

        465,844  
    

 

 

  
 

 

See Notes to Financial Statements.

 

24

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Capital Innovations Global Resources and Infrastructure Fund — concluded

 

     Shares      Value($)  

Total Investments
(Cost $8,674,747) — 102.6%

        9,338,736  

Liabilities in Excess of Other Assets — (2.6)%

        (236,949 ) 
    

 

 

  

Net Assets — 100.0%

      $ 9,101,787  
    

 

 

  

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $1,102,933.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2017.
(c) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $1,136,975. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $861,439. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(g)).

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.

 

25

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Ceredex Large Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 99.4%  

Consumer Discretionary 2.6%

 

Comcast Corp., Cl A

     1,449,686        54,493,697  
    

 

 

  

Consumer Staples 4.8%

 

Mondelez International, Inc., Cl A

     1,095,535        47,195,648  

Procter & Gamble Co. (The)

     605,263        54,382,880  
    

 

 

  
       101,578,528  
    

 

 

  

Energy 15.1%

 

Chevron Corp.

     753,004        80,850,039  

EOG Resources, Inc.

     502,144        48,984,147  

Exxon Mobil Corp.

     899,278        73,749,789  

Royal Dutch Shell PLC SP ADR, Cl B

     1,080,944        60,349,104  

Schlumberger Ltd.

     701,865        54,815,657  
    

 

 

  
       318,748,736  
    

 

 

  

Financials 30.7%

 

Aon PLC

     236,925        28,120,628  

BlackRock, Inc.

     150,410        57,683,739  

Capital One Financial Corp.

     478,136        41,435,266  

Chubb Ltd.

     310,446        42,298,267  

Citigroup, Inc.

     1,011,390        60,501,350  

Crown Castle International Corp., REIT

     490,089        46,288,906  

JPMorgan Chase & Co.

     834,060        73,263,830  

MetLife, Inc.

     682,435        36,046,217  

Progressive Corp. (The)

     542,655        21,261,223  

Public Storage, REIT

     197,879        43,317,692  

Regency Centers Corp., REIT

     341,705        22,685,795  

Synchrony Financial

     823,906        28,259,976  

U.S. Bancorp

     1,259,888        64,884,232  

Wells Fargo & Co.

     932,348        51,894,490  

Willis Towers Watson PLC

     224,742        29,416,480  
    

 

 

  
       647,358,091  
    

 

 

  

Health Care 9.0%

 

Abbott Laboratories

     1,064,800        47,287,768  

Cigna Corp.

     346,186        50,712,787  

Johnson & Johnson

     270,107        33,641,827  

Pfizer, Inc.

     817,250        27,958,123  

UnitedHealth Group, Inc.

     188,904        30,982,145  
    

 

 

  
       190,582,650  
    

 

 

  

Industrials 16.3%

 

Eaton Corp. PLC

     660,560        48,980,524  

FedEx Corp.

     277,144        54,084,652  

General Electric Co.

     1,751,387        52,191,333  

Honeywell International, Inc.

     396,812        49,549,914  

Northrop Grumman Corp.

     201,558        47,938,555  

PACCAR, Inc.

     634,470        42,636,384  
     Shares      Value($)  

Industrials—continued

United Technologies Corp.

     427,735        47,996,144  
    

 

 

  
       343,377,506  
    

 

 

  

Information Technology 9.3%

 

Apple, Inc.

     328,810        47,236,845  

Microsoft Corp.

     969,123        63,826,441  

Oracle Corp.

     1,181,119        52,689,718  

Texas Instruments, Inc.

     409,472        32,987,064  
    

 

 

  
       196,740,068  
    

 

 

  

Materials 5.9%

 

Dow Chemical Co. (The)

     442,132        28,093,067  

PPG Industries, Inc.

     338,280        35,546,462  

Praxair, Inc.(a)

     229,931        27,269,817  

Vulcan Materials Co.

     272,591        32,841,764  
    

 

 

  
       123,751,110  
    

 

 

  

Telecommunication Services 2.5%

 

Verizon Communications, Inc.

     1,076,067        52,458,266  
    

 

 

  

Utilities 3.2%

 

Edison International

     435,970        34,707,572  

NextEra Energy, Inc.(a)

     260,939        33,496,739  
    

 

 

  
       68,204,311  
    

 

 

  

Total Common Stocks
(Cost $1,644,690,178)

        2,097,292,963  
    

 

 

  

Money Market Fund 1.0%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(b)

     20,759,114        20,759,114  
    

 

 

  

Total Money Market Fund
(Cost $20,759,114)

        20,759,114  
    

 

 

  

Total Investments
(Cost $1,665,449,292) — 100.4%

 

      2,118,052,077  

Liabilities in Excess of Other Assets — (0.4)%

        (9,080,193 ) 
    

 

 

  

Net Assets — 100.0%

      $ 2,108,971,884  
    

 

 

  

 

(a) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $9,073,947. The total value of the collateral received is in the form of securities having a value of $9,257,844. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(g)).

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

REIT   —   Real Estate Investment Trust
SP ADR   —   Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

26

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Ceredex Mid-Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 95.5%  

Consumer Discretionary 4.5%

 

Coach, Inc.

     1,000,000        41,330,000  

Ralph Lauren Corp.

     875,000        71,417,500  

Williams-Sonoma, Inc.(a)

     750,000        40,215,000  
    

 

 

  
       152,962,500  
    

 

 

  

Consumer Staples 2.6%

 

Dr Pepper Snapple Group, Inc.

     375,000        36,720,000  

Molson Coors Brewing Co., Cl B

     535,000        51,204,850  
    

 

 

  
       87,924,850  
    

 

 

  

Energy 10.4%

 

Cabot Oil & Gas Corp.

     2,050,000        49,015,500  

Core Laboratories NV(a)

     325,000        37,544,000  

Devon Energy Corp.

     1,100,000        45,892,000  

Ensco PLC, CL A

     2,450,000        21,927,500  

Marathon Petroleum Corp.

     1,150,000        58,121,000  

Noble Energy, Inc.

     1,540,000        52,883,600  

Patterson-UTI Energy, Inc.

     1,475,000        35,798,250  

Williams Cos., Inc. (The)

     1,850,000        54,741,500  
    

 

 

  
       355,923,350  
    

 

 

  

Financials 29.6%

 

Affiliated Managers Group, Inc.

     225,000        36,886,500  

American Campus Communities, Inc., REIT

     700,000        33,313,000  

BankUnited, Inc.

     1,300,000        48,503,000  

CIT Group, Inc.

     1,225,000        52,589,250  

Citizens Financial Group, Inc.

     1,000,000        34,550,000  

Cousins Properties, Inc., REIT

     4,700,000        38,869,000  

CyrusOne, Inc., REIT

     1,075,000        55,330,250  

Hartford Financial Services Group, Inc. (The)

     950,000        45,666,500  

KeyCorp

     2,670,000        47,472,600  

Lazard Ltd., Cl A

     750,000        34,492,500  

Life Storage, Inc., REIT

     630,000        51,735,600  

MB Financial, Inc.

     1,180,000        50,527,600  

Medical Properties Trust, Inc., REIT

     3,100,000        39,959,000  

National Retail Properties, Inc., REIT

     850,000        37,077,000  

Progressive Corp. (The)

     1,275,000        49,954,500  

Prologis, Inc., REIT

     840,000        43,579,200  

Retail Opportunity Investments Corp., REIT

     1,850,000        38,905,500  

Synchrony Financial

     1,785,000        61,225,500  

Taubman Centers, Inc., REIT

     630,000        41,592,600  

Weyerhaeuser Co., REIT

     1,950,000        66,261,000  
     Shares      Value($)  

Financials—continued

Willis Towers Watson PLC

     450,000        58,900,500  

XL Group Ltd.

     1,250,000        49,825,000  
    

 

 

  
       1,017,215,600  
    

 

 

  

Health Care 8.2%

 

AmerisourceBergen Corp.(a)

     400,000        35,400,000  

Cigna Corp.

     465,000        68,117,850  

Cooper Cos., Inc. (The)

     135,000        26,985,150  

Humana, Inc.

     310,000        63,903,400  

STERIS PLC

     885,000        61,472,100  

Zimmer Biomet Holdings, Inc.

     220,000        26,864,200  
    

 

 

  
       282,742,700  
    

 

 

  

Industrials 12.7%

 

Acuity Brands, Inc.

     215,000        43,860,000  

Alaska Air Group, Inc.

     360,000        33,199,200  

Allison Transmission Holdings, Inc.

     1,000,000        36,060,000  

AMETEK, Inc.

     800,000        43,264,000  

Donaldson Co., Inc.

     400,000        18,208,000  

Fortive Corp.

     575,000        34,626,500  

Hubbell, Inc.

     280,000        33,614,000  

Macquarie Infrastructure Corp.

     700,000        56,406,000  

Pentair PLC

     550,000        34,529,000  

Rockwell Automation, Inc.

     80,000        12,456,800  

Rockwell Collins, Inc.

     440,000        42,750,400  

Xylem, Inc.

     950,000        47,709,000  
    

 

 

  
       436,682,900  
    

 

 

  

Information Technology 9.6%

 

Analog Devices, Inc.

     820,000        67,199,000  

Cypress Semiconductor Corp.(a)

     3,700,000        50,912,000  

Fair Isaac Corp.

     280,000        36,106,000  

Harris Corp.

     465,000        51,740,550  

Motorola Solutions, Inc.

     260,600        22,468,932  

NetApp, Inc.

     350,000        14,647,500  

Sabre Corp.

     1,850,000        39,201,500  

Western Digital Corp.

     580,000        47,867,400  
    

 

 

  
       330,142,882  
    

 

 

  

Materials 8.2%

 

Air Products & Chemicals, Inc.

     375,000        50,733,750  

International Paper Co.

     825,000        41,893,500  

Martin Marietta Materials, Inc.

     215,000        46,923,750  

RPM International, Inc.

     750,000        41,272,500  

Sherwin-Williams Co. (The)

     165,000        51,181,350  

Valvoline, Inc.(a)

     2,040,000        50,082,000  
    

 

 

  
       282,086,850  
    

 

 

  
 

 

See Notes to Financial Statements.

 

27

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Ceredex Mid-Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Telecommunication Services 1.5%

 

CenturyLink, Inc.(a)

     2,250,000        53,032,500  
    

 

 

  

Utilities 8.2%

 

American Water Works Co., Inc.

     710,000        55,216,700  

CMS Energy Corp.

     800,000        35,792,000  

Edison International

     560,000        44,581,600  

Great Plains Energy, Inc.

     1,550,000        45,291,000  

PG&E Corp.

     750,000        49,770,000  

Sempra Energy

     450,000        49,725,000  
    

 

 

  
       280,376,300  
    

 

 

  

Total Common Stocks
(Cost $2,838,262,041)

        3,279,090,432  
    

 

 

  

Money Market Funds 6.1%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(b)

     138,450,258        138,450,258  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(b)(c)

     69,152,134        69,152,134  
    

 

 

  

Total Money Market Funds
(Cost $207,602,392)

        207,602,392  
    

 

 

  
     Shares      Value($)  

Total Investments
(Cost $3,045,864,433) — 101.6%

 

      3,486,692,824  

Liabilities in Excess of Other Assets — (1.6)%

        (53,897,220 ) 
    

 

 

  

Net Assets — 100.0%

      $ 3,432,795,604  
    

 

 

  

 

(a) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $74,559,593.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2017.

 

(c) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $76,712,546. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $7,560,412. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(g)).

Investment Abbreviation

REIT — Real Estate Investment Trust

 

 

See Notes to Financial Statements.

 

28

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Ceredex Small Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 99.8%  

Consumer Discretionary 25.2%

 

AMC Entertainment Holdings, Inc., Cl A

     824,640        25,934,928  

American Eagle Outfitters, Inc.

     795,500        11,160,865  

Bloomin’ Brands, Inc.

     1,411,000        27,839,030  

Chico’s FAS, Inc.

     1,092,500        15,513,500  

DSW, Inc., Cl A

     885,800        18,318,344  

Guess?, Inc.

     1,124,954        12,543,237  

HSN, Inc.

     627,460        23,278,766  

Lithia Motors, Inc., Cl A

     201,600        17,267,040  

Matthews International Corp., Cl A

     44,740        3,026,661  

Meredith Corp.

     9,890        638,894  

Papa John’s International, Inc.

     237,500        19,009,500  

Regal Entertainment Group, Cl A

     620,800        14,017,664  

Ruth’s Hospitality Group, Inc.

     173,170        3,472,059  

Scholastic Corp.

     154,890        6,593,667  

Sonic Automotive, Inc., Cl A

     683,570        13,705,578  

Sonic Corp.

     752,996        19,095,979  

Tupperware Brands Corp.

     64,400        4,039,168  
    

 

 

  
       235,454,880  
    

 

 

  

Consumer Staples 9.1%

 

B&G Foods, Inc.

     544,000        21,896,000  

Calavo Growers, Inc.

     131,700        7,981,020  

Energizer Holdings, Inc.

     682,300        38,038,225  

Inter Parfums, Inc.

     207,600        7,587,780  

J&J Snack Foods Corp.

     39,000        5,286,840  

PriceSmart, Inc.

     22,400        2,065,280  

Sanderson Farms, Inc.

     24,501        2,544,184  
    

 

 

  
       85,399,329  
    

 

 

  

Energy 0.3%

 

Bristow Group, Inc.

     204,660        3,112,879  
    

 

 

  

Financials 18.9%

 

Alexander & Baldwin, Inc.

     269,510        11,998,585  

Banco Latinoamericano de Comercio Exterior SA, Cl E

     49,470        1,372,298  

Bank of Hawaii Corp.

     225,540        18,575,474  

Cohen & Steers, Inc.

     333,200        13,318,004  

DiamondRock Hospitality Co., REIT

     643,800        7,178,370  

Education Realty Trust, Inc., REIT

     541,300        22,112,105  

Evercore Partners, Inc., Cl A

     337,120        26,261,648  

First Interstate BancSystem, Inc., Cl A

     32,200        1,276,730  

Hanover Insurance Group, Inc. (The)

     195,682        17,623,121  

Horace Mann Educators Corp.

     345,100        14,166,355  

Monmouth Real Estate Investment Corp., REIT

     57,050        814,104  

Oppenheimer Holdings, Inc., Cl A

     12,610        215,631  
     Shares      Value($)  

Financials—continued

Outfront Media, Inc., REIT

     791,995        21,027,467  

Retail Opportunity Investments Corp., REIT

     442,693        9,309,834  

Tanger Factory Outlet Centers, Inc., REIT

     307,200        10,066,944  

Trust Co Bank Corp. NY

     169,350        1,329,397  
    

 

 

  
       176,646,067  
    

 

 

  

Health Care 6.3%

 

Ensign Group, Inc. (The)

     142,340        2,675,992  

Hill-Rom Holdings, Inc.

     453,730        32,033,338  

Landauer, Inc.

     227,140        11,073,075  

Phibro Animal Health Corp., Cl A

     450,200        12,650,620  
    

 

 

  
       58,433,025  
    

 

 

  

Industrials 26.4%

 

AAR Corp.

     282,570        9,502,829  

ABM Industries, Inc.

     106,027        4,622,777  

Advanced Drainage Systems, Inc.

     10,900        238,710  

Apogee Enterprises, Inc.

     121,400        7,236,654  

Badger Meter, Inc.

     195,182        7,172,938  

China Yuchai International Ltd.

     50,790        940,123  

Covanta Holding Corp.

     1,540,300        24,182,710  

Cubic Corp.

     345,200        18,226,560  

EMCOR Group, Inc.

     112,440        7,078,098  

Forward Air Corp.

     375,400        17,857,778  

Granite Construction, Inc.

     176,240        8,845,486  

Herman Miller, Inc.

     643,480        20,301,794  

Interface, Inc.

     124,261        2,367,172  

ITT, Inc.

     56,957        2,336,376  

Kelly Services, Inc., Cl A

     786,210        17,186,551  

Kforce, Inc.

     316,100        7,507,375  

Knoll, Inc.

     676,900        16,116,989  

Korn/Ferry International

     307,437        9,681,191  

Luxfer Holdings PLC ADR

     158,210        1,923,834  

Mueller Water Products, Inc., Cl A

     1,320,530        15,608,665  

Multi-Color Corp.

     104,900        7,447,900  

NN, Inc.

     108,800        2,741,760  

Sun Hydraulics Corp.

     146,320        5,283,615  

Tennant Co.

     33,780        2,454,117  

Tetra Tech, Inc.

     527,800        21,560,630  

Viad Corp.

     186,390        8,424,828  
    

 

 

  
       246,847,460  
    

 

 

  

Information Technology 8.0%

 

Black Box Corp.

     39,200        350,840  

Daktronics, Inc.

     597,050        5,642,122  

Fair Isaac Corp.

     384,550        49,587,722  

Plantronics, Inc.

     354,960        19,206,886  
    

 

 

  
       74,787,570  
    

 

 

  
 

 

See Notes to Financial Statements.

 

29

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Ceredex Small Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Materials 2.3%

 

Carpenter Technology Corp.

     181,900        6,784,870  

Haynes International, Inc.

     82,430        3,142,232  

Hecla Mining Co.

     2,097,340        11,094,928  
    

 

 

  
       21,022,030  
    

 

 

  

Utilities 3.3%

 

ALLETE, Inc.

     167,840        11,364,446  

California Water Service Group

     318,890        11,432,207  

NorthWestern Corp.

     141,100        8,282,570  
    

 

 

  
       31,079,223  
    

 

 

  

Total Common Stocks
(Cost $724,979,210)

        932,782,463  
    

 

 

  

Money Market Fund 0.2%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(a)

     1,500,791        1,500,791  
    

 

 

  

Total Money Market Fund
(Cost $1,500,791)

        1,500,791  
    

 

 

  
     Shares      Value($)  

Total Investments
(Cost $726,480,001) — 100.0%

        934,283,254  

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

        (13,443 ) 
    

 

 

  

Net Assets — 100.0%

      $ 934,269,811  
    

 

 

  

 

(a) Rate disclosed, the 7 day yield, is as of March 31, 2017.

 

(b) Less than 0.05% of Net Assets.

Investment Abbreviations

 

ADR   —   American Depositary Receipt
REIT   —   Real Estate Investment Trust
 

 

See Notes to Financial Statements.

 

30

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Innovative Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 98.6%  

Consumer Discretionary 27.9%

 

Amazon.com, Inc.*

     2,100        1,861,734  

Chipotle Mexican Grill, Inc.*

     1,100        490,072  

Lululemon Athletica, Inc.*

     8,300        430,521  

Netflix, Inc.*

     11,300        1,670,253  

Priceline Group, Inc. (The)*

     550        978,984  

Shake Shack, Inc., Cl A*

     16,000        534,400  

Tesla, Inc.*

     5,200        1,447,160  

Ulta Salon Cosmetics & Fragrance, Inc.*

     2,100        598,983  
    

 

 

  
       8,012,107  
    

 

 

  

Financials 10.5%

 

Bank of the Ozarks, Inc.

     12,200        634,522  

Charles Schwab Corp. (The)

     28,800        1,175,328  

First Republic Bank

     5,900        553,479  

Signature Bank*

     4,400        652,916  
    

 

 

  
       3,016,245  
    

 

 

  

Health Care 19.7%

 

Alexion Pharmaceuticals, Inc.*

     2,350        284,914  

BioMarin Pharmaceutical, Inc.*

     4,700        412,566  

Celgene Corp.*

     10,050        1,250,522  

DexCom, Inc.*

     9,100        771,043  

Exact Sciences Corp.*

     32,000        755,840  

Medidata Solutions, Inc.*

     7,600        438,444  

Nevro Corp.*

     6,200        580,940  

Portola Pharmaceuticals, Inc.*

     3,400        133,246  

Regeneron Pharmaceuticals, Inc.*

     2,300        891,273  

Teladoc, Inc.*

     5,800        145,000  
    

 

 

  
       5,663,788  
    

 

 

  

Industrials 4.7%

 

XPO Logistics, Inc.*

     28,000        1,340,920  
    

 

 

  
     Shares      Value($)  

Information Technology 35.8%

 

2U, Inc.*

     6,000        237,960  

Adobe Systems, Inc.*

     4,500        585,585  

Alphabet, Inc., Cl A*

     1,000        847,800  

Ellie Mae, Inc.*

     8,200        822,214  

Facebook, Inc., Cl A*

     10,500        1,491,525  

Inphi Corp.*

     8,000        390,560  

MercadoLibre, Inc.

     5,900        1,247,673  

Monolithic Power Systems, Inc.

     10,000        921,000  

Palo Alto Networks, Inc.*

     5,600        631,008  

Pandora Media, Inc.*

     31,800        375,558  

Proofpoint, Inc.*

     5,000        371,800  

ServiceNow, Inc.*

     6,950        607,916  

Shopify, Inc., Cl A*

     7,900        537,911  

Twilio, Inc., Cl A*

     10,300        297,361  

Zillow Group, Inc., Cl C*

     26,500        892,255  
    

 

 

  
       10,258,126  
    

 

 

  

Total Common Stocks
(Cost $17,177,082)

        28,291,186  
    

 

 

  

Money Market Fund 2.3%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(a)

     672,185        672,185  
    

 

 

  

Total Money Market Fund
(Cost $672,185)

        672,185  
    

 

 

  

Total Investments
(Cost $17,849,267) — 100.9%

        28,963,371  

Liabilities in Excess of Other
Assets — (0.9)%

        (257,919 ) 
    

 

 

  

Net Assets — 100.0%

      $ 28,705,452  
    

 

 

  

 

* Non-income producing security.

 

(a) Rate disclosed, the 7 day yield, is as of March 31, 2017.
 

 

See Notes to Financial Statements.

 

31

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

International Equity Fund

 

     Shares      Value($)  
Common Stocks 98.3%  

Australia 4.7%

 

CSL Ltd.

     35,320        3,381,964  
    

 

 

  

Bermuda 2.3%

 

Lazard Ltd., Cl A

     35,089        1,613,743  
    

 

 

  

Brazil 2.9%

 

Ambev SA ADR(a)

     364,491        2,099,468  
    

 

 

  

Canada 5.4%

 

Canadian Pacific Railway Ltd.(a)

     18,273        2,684,669  

Constellation Software, Inc.

     2,473        1,215,254  
    

 

 

  
       3,899,923  
    

 

 

  

China 6.7%

 

Ctrip.com International Ltd. ADR*(a)

     45,862        2,254,117  

Tencent Holdings Ltd.

     88,340        2,532,607  
    

 

 

  
       4,786,724  
    

 

 

  

Denmark 7.8%

 

Chr. Hansen Holding A/S

     27,725        1,779,527  

Coloplast A/S, Cl B

     27,494        2,146,737  

Novozymes A/S, Cl B

     42,571        1,687,310  
    

 

 

  
       5,613,574  
    

 

 

  

France 8.1%

 

Essilor International SA

     14,894        1,809,748  

Hermes International

     3,692        1,749,143  

LVMH Moet Hennessy Louis Vuitton SE

     10,190        2,237,731  
    

 

 

  
       5,796,622  
    

 

 

  

Germany 2.4%

 

Adidas AG

     8,988        1,709,611  
    

 

 

  

Hong Kong 2.3%

 

AIA Group Ltd.

     260,400        1,641,845  
    

 

 

  

India 3.2%

 

HDFC Bank Ltd. ADR

     30,633        2,304,214  
    

 

 

  

Ireland 9.8%

 

Accenture PLC, Cl A

     22,884        2,743,334  

Experian PLC

     138,787        2,830,869  

ICON PLC*

     18,451        1,470,914  
    

 

 

  
       7,045,117  
    

 

 

  

Italy 2.0%

 

Luxottica Group SpA

     26,420        1,458,566  
    

 

 

  

Japan 5.6%

 

Keyence Corp.

     6,400        2,562,760  

Sysmex Corp.(a)

     23,540        1,427,243  
    

 

 

  
       3,990,003  
    

 

 

  

Mexico 2.7%

 

Wal-Mart de Mexico SAB de CV

     852,890        1,967,971  
    

 

 

  
     Shares      Value($)  

Netherlands 5.2%

 

Core Laboratories NV(a)

     18,623        2,151,329  

Yandex NV, Cl A*

     71,327        1,564,201  
    

 

 

  
       3,715,530  
    

 

 

  

South Korea 1.6%

 

Amorepacific Corp.

     4,702        1,179,389  
    

 

 

  

Spain 1.4%

 

Industria de Diseno Textil SA

     29,185        1,028,686  
    

 

 

  

Sweden 1.5%

 

Atlas Copco AB, Cl A

     29,537        1,042,620  
    

 

 

  

Switzerland 11.0%

 

Chubb Ltd.

     23,271        3,170,674  

Nestle SA

     36,587        2,807,079  

SGS SA

     902        1,924,399  
    

 

 

  
       7,902,152  
    

 

 

  

Taiwan 3.5%

 

Taiwan Semiconductor Manufacturing Co. Ltd. SP ADR

     77,429        2,542,768  
    

 

 

  

United Kingdom 8.2%

 

Compass Group PLC

     145,919        2,753,299  

Reckitt Benckiser Group PLC

     34,037        3,107,113  
    

 

 

  
       5,860,412  
    

 

 

  

Total Common Stocks
(Cost $63,452,994)

        70,580,902  
    

 

 

  

Money Market Funds 5.2%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(b)

     1,673,055        1,673,055  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(b)(c)

     2,043,412        2,043,412  
    

 

 

  

Total Money Market Funds
(Cost $3,716,467)

        3,716,467  
    

 

 

  

Total Investments
(Cost $67,169,461) — 103.5%

        74,297,369  

Liabilities in Excess of Other Assets — (3.5)%

        (2,503,533 ) 
    

 

 

  

Net Assets — 100.0%

      $ 71,793,836  
    

 

 

  

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $4,116,565.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2017.
 

 

See Notes to Financial Statements.

 

32

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

International Equity Fund — concluded

 

 

(c) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $4,207,310. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,163,898. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(g)).

Investment Abbreviations

 

ADR   —   American Depositary Receipt
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.

 

33

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Silvant Large Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 97.6%  

Consumer Discretionary 22.4%

 

Adient PLC

     3,716        270,042  

Amazon.com, Inc.*

     11,722        10,392,022  

Chipotle Mexican Grill, Inc.*(a)

     6,030        2,686,486  

Comcast Corp., Cl A

     115,201        4,330,406  

DR Horton, Inc.

     88,898        2,961,192  

Johnson Controls International PLC

     37,151        1,564,800  

Las Vegas Sands Corp.

     27,209        1,552,818  

Netflix, Inc.*

     21,356        3,156,630  

Priceline Group, Inc. (The)*

     3,814        6,788,805  

Royal Caribbean Cruises Ltd.

     26,569        2,606,685  

Starbucks Corp.

     62,851        3,669,870  

Twenty-First Century Fox, Inc., Cl A

     64,154        2,077,948  

Ulta Salon Cosmetics & Fragrance, Inc.*

     4,746        1,353,701  

Walt Disney Co. (The)

     40,687        4,613,499  
    

 

 

  
       48,024,904  
    

 

 

  

Consumer Staples 6.0%

 

Blue Buffalo Pet Products, Inc.*

     75,457        1,735,511  

Colgate-Palmolive Co.

     34,994        2,561,211  

Costco Wholesale Corp.

     27,312        4,579,949  

Estee Lauder Cos., Inc. (The), Cl A

     33,319        2,825,118  

WhiteWave Foods Co. (The)*

     20,028        1,124,572  
    

 

 

  
       12,826,361  
    

 

 

  

Energy 1.6%

 

Devon Energy Corp.

     28,270        1,179,425  

EOG Resources, Inc.

     23,284        2,271,354  
    

 

 

  
       3,450,779  
    

 

 

  

Financials 7.4%

 

American Express Co.

     40,656        3,216,296  

Charles Schwab Corp. (The)

     82,275        3,357,643  

Discover Financial Services

     40,538        2,772,394  

Equinix, Inc., REIT

     5,777        2,312,937  

Morgan Stanley

     62,042        2,657,879  

SunTrust Banks, Inc.

     28,267        1,563,165  
    

 

 

  
       15,880,314  
    

 

 

  

Health Care 12.9%

 

Agilent Technologies, Inc.

     23,348        1,234,409  

Alexion Pharmaceuticals, Inc.*

     34,195        4,145,802  

Allergan PLC

     12,194        2,913,390  

Biogen, Inc.*

     12,629        3,453,021  

Bristol-Myers Squibb Co.

     59,675        3,245,127  

Edwards Lifesciences Corp.*

     39,239        3,691,213  

HCA Holdings, Inc.*

     24,000        2,135,760  

Mettler-Toledo International, Inc.*

     2,596        1,243,250  

Shire PLC ADR

     10,049        1,750,837  
     Shares      Value($)  

Health Care—continued

UnitedHealth Group, Inc.

     23,460        3,847,675  
    

 

 

  
       27,660,484  
    

 

 

  

Industrials 10.1%

 

A.O. Smith Corp.

     45,500        2,327,780  

Emerson Electric Co.

     36,809        2,203,387  

Fortune Brands Home & Security, Inc.

     43,062        2,620,323  

HD Supply Holdings, Inc.*

     68,069        2,799,338  

Honeywell International, Inc.

     40,205        5,020,398  

IHS Markit Ltd.*

     36,774        1,542,669  

J.B. Hunt Transport Services, Inc.

     20,147        1,848,286  

Waste Management, Inc.

     21,663        1,579,666  

Xylem, Inc.

     31,243        1,569,023  
    

 

 

  
       21,510,870  
    

 

 

  

Information Technology 36.6%

 

Adobe Systems, Inc.*

     32,318        4,205,541  

Alphabet, Inc., Cl C*

     7,106        5,894,853  

Alphabet, Inc., Cl A*

     6,913        5,860,841  

Analog Devices, Inc.

     33,783        2,768,517  

Apple, Inc.

     54,981        7,898,571  

Applied Materials, Inc.

     82,890        3,224,421  

Autodesk, Inc.*

     40,792        3,527,284  

Facebook, Inc., Cl A*

     69,013        9,803,297  

Microchip Technology, Inc.(a)

     35,587        2,625,609  

Microsoft Corp.

     182,696        12,032,359  

NXP Semiconductors NV*

     27,498        2,846,043  

Oracle Corp.

     28,233        1,259,474  

Salesforce.com, Inc.*

     36,607        3,019,711  

Splunk, Inc.*

     34,334        2,138,665  

Visa, Inc., Cl A(a)

     102,684        9,125,527  

Workday, Inc., Cl A*(a)

     23,556        1,961,744  
    

 

 

  
       78,192,457  
    

 

 

  

Materials 0.6%

 

Vulcan Materials Co.

     10,649        1,282,991  
    

 

 

  

Total Common Stocks
(Cost $128,132,153)

        208,829,160  
    

 

 

  

Money Market Fund 2.5%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(b)

     5,329,074        5,329,074  
    

 

 

  

Total Money Market Fund
(Cost $5,329,074)

        5,329,074  
    

 

 

  

Total Investments
(Cost $133,461,227) — 100.1%

        214,158,234  

Liabilities in Excess of Other
Assets — (0.1)%

        (219,559 ) 
    

 

 

  

Net Assets — 100.0%

      $ 213,938,675  
    

 

 

  
 

 

See Notes to Financial Statements.

 

34

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Silvant 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, 2017. The total value of securities on loan as of March 31, 2017 was $4,356,267. The total value of the collateral received is in the form of securities having a value of $4,453,144. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017. (See Note 2(g)).

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

ADR   —   American Depositary Receipt
REIT   —   Real Estate Investment Trust
 

 

See Notes to Financial Statements.

 

35

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Silvant Small Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 99.7%  

Consumer Discretionary 11.1%

 

Cheesecake Factory, Inc. (The)

     9,600        608,256  

Cracker Barrel Old Country Store, Inc.(a)

     3,118        496,542  

Denny’s Corp.*

     31,033        383,878  

Dorman Products, Inc.*

     6,608        542,715  

ILG, Inc.

     24,324        509,831  

Monro Muffler Brake, Inc.

     6,370        331,877  

Panera Bread Co., Cl A*(a)

     1,560        408,517  

Tenneco, Inc.

     9,063        565,712  

Texas Roadhouse, Inc.

     9,335        415,688  

Winnebago Industries, Inc.

     9,899        289,546  
    

 

 

  
       4,552,562  
    

 

 

  

Consumer Staples 3.4%

 

Energizer Holdings, Inc.

     8,042        448,342  

Lancaster Colony Corp.

     2,355        303,418  

Snyder’s-Lance, Inc.(a)

     7,572        305,227  

WD-40 Co.(a)

     2,899        315,846  
    

 

 

  
       1,372,833  
    

 

 

  

Energy 2.7%

 

Carrizo Oil & Gas, Inc.*(a)

     16,954        485,902  

Fairmount Santrol Holdings, Inc.*(a)

     20,546        150,602  

PBF Energy, Inc., Cl A(a)

     10,336        229,149  

Precision Drilling Corp.*

     46,295        218,512  
    

 

 

  
       1,084,165  
    

 

 

  

Financials 9.3%

 

AMERISAFE, Inc.

     8,715        565,603  

BNC Bancorp

     11,447        401,217  

Coresite Realty Corp., REIT(a)

     3,330        299,866  

Employers Holdings, Inc.

     14,946        567,201  

First Financial Bankshares, Inc.(a)

     7,025        281,703  

Greenhill & Co., Inc.(a)

     15,237        446,444  

Home BancShares, Inc.

     25,737        696,701  

QTS Realty Trust, Inc., Cl A, REIT

     11,165        544,294  
    

 

 

  
       3,803,029  
    

 

 

  

Health Care 25.4%

 

AMN Healthcare Services, Inc.*(a)

     12,620        512,372  

ANI Pharmaceuticals, Inc.*(a)

     6,372        315,478  

Array BioPharma, Inc.*(a)

     39,216        350,591  

Cantel Medical Corp.

     4,610        369,261  

Chemed Corp.

     2,617        478,100  

Coherus Biosciences, Inc.*

     13,663        288,972  

CorVel Corp.*

     6,287        273,485  

Depomed, Inc.*(a)

     23,384        293,469  

Dermira, Inc.*

     8,695        296,586  

HealthSouth Corp.

     9,824        420,565  

ICU Medical, Inc.*

     4,084        623,627  

Inogen, Inc.*

     10,911        846,257  
     Shares      Value($)  

Health Care—continued

Insmed, Inc.*

     28,033        490,858  

Ironwood Pharmaceuticals, Inc.*(a)

     36,025        614,586  

La Jolla Pharmaceutical Co.*(a)

     7,616        227,338  

Neurocrine Biosciences, Inc.*

     5,805        251,357  

NuVasive, Inc.*

     8,080        603,414  

NxStage Medical, Inc.*

     20,929        561,525  

Portola Pharmaceuticals, Inc.*

     10,394        407,341  

Prestige Brands Holdings, Inc.*

     8,549        474,982  

Radius Health, Inc.*(a)

     8,385        324,080  

Supernus Pharmaceuticals, Inc.*

     9,915        310,340  

TESARO, Inc.*(a)

     2,388        367,442  

Ultragenyx Pharmaceutical, Inc.*

     5,476        371,163  

Vanda Pharmaceuticals, Inc.*

     23,425        327,950  
    

 

 

  
       10,401,139  
    

 

 

  

Industrials 16.9%

 

AAON, Inc.

     13,075        462,201  

Air Transport Services Group, Inc.*

     36,356        583,514  

Alamo Group, Inc.

     6,584        501,635  

Astec Industries, Inc.

     6,029        370,753  

AZZ, Inc.

     8,083        480,938  

Beacon Roofing Supply, Inc.*

     10,022        492,682  

Dycom Industries, Inc.*(a)

     4,344        403,775  

Forward Air Corp.

     9,695        461,191  

Franklin Electric Co., Inc.

     9,122        392,702  

Hawaiian Holdings, Inc.*

     7,267        337,552  

II-VI, Inc.*

     14,424        519,985  

Multi-Color Corp.

     4,584        325,464  

Simpson Manufacturing Co., Inc.

     10,085        434,563  

Swift Transportation Co.*(a)

     13,840        284,274  

Teledyne Technologies, Inc.*

     3,219        407,075  

Universal Forest Products, Inc.

     4,463        439,784  
    

 

 

  
       6,898,088  
    

 

 

  

Information Technology 23.3%

 

Aspen Technology, Inc.*

     9,497        559,563  

Coherent, Inc.*

     3,072        631,726  

Fair Isaac Corp.

     3,382        436,109  

Gigamon, Inc.*

     9,151        325,318  

Inphi Corp.*(a)

     11,830        577,541  

Integrated Device Technology, Inc.*

     15,474        366,269  

InterXion Holding NV*

     15,569        615,910  

Littelfuse, Inc.

     4,203        672,102  

LogMeIn, Inc.

     3,542        345,345  

MaxLinear, Inc., Cl A*

     20,871        585,431  

Methode Electronics, Inc.

     10,269        468,266  

MINDBODY, Inc., Cl A*

     13,700        376,065  

Monolithic Power Systems, Inc.

     3,847        354,309  

Oclaro, Inc.*

     42,557        417,910  

Paycom Software, Inc.*(a)

     5,844        336,088  
 

 

See Notes to Financial Statements.

 

36

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Silvant Small Cap Growth Stock Fund — concluded

 

     Shares      Value($)  

Information Technology—continued

Pegasystems, Inc.

     9,793        429,423  

Proofpoint, Inc.*(a)

     6,360        472,930  

Q2 Holdings, Inc.*

     27,669        964,265  

Versum Materials, Inc.*

     12,247        374,758  

ViaSat, Inc.*(a)

     3,577        228,284  
    

 

 

  
       9,537,612  
    

 

 

  

Materials 6.6%

 

Balchem Corp.(a)

     6,653        548,340  

HB Fuller Co.

     8,994        463,731  

Olin Corp.(a)

     11,738        385,828  

Quaker Chemical Corp.

     4,364        574,564  

Stepan Co.

     4,906        386,642  

Valvoline, Inc.(a)

     14,629        359,142  
    

 

 

  
       2,718,247  
    

 

 

  

Telecommunication Services 1.0%

 

8x8, Inc.*

     27,915        425,704  
    

 

 

  

Total Common Stocks
(Cost $33,544,721)

        40,793,379  
    

 

 

  

Money Market Funds 9.7%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(b)

     196,569        196,569  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(b)(c)

     3,785,707        3,785,707  
    

 

 

  

Total Money Market Funds
(Cost $3,982,276)

        3,982,276  
    

 

 

  
     Shares      Value($)  

Total Investments
(Cost $37,526,997) — 109.4%

        44,775,655  

Liabilities in Excess of Other Assets — (9.4)%

        (3,855,887 ) 
    

 

 

  

Net Assets — 100.0%

      $ 40,919,768  
    

 

 

  

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $5,972,653.

 

(b) Rate disclosed, the 7 day yield, is as of March 31, 2017.

 

(c) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $6,113,686. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,327,979. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(g)).

Investment Abbreviation

REIT — Real Estate Investment Trust

 

 

See Notes to Financial Statements.

 

37

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Conservative Allocation Strategy

 

     Shares      Value($)  

Equity Funds 29.9%

 

RidgeWorth Capital Innovations Global Resources and Infrastructure Fund(a)

     13,141        151,643  

RidgeWorth Ceredex Large Cap Value Equity Fund(b)

     227,361        3,906,070  

RidgeWorth Ceredex Mid-Cap Value Equity Fund(b)

     106,388        1,541,562  

RidgeWorth Ceredex Small Cap Value Equity Fund(a)

     38,988        506,460  

RidgeWorth International Equity Fund(b)

     130,382        1,329,896  

RidgeWorth Silvant Large Cap Growth Stock Fund(b)

     531,429        4,750,979  

RidgeWorth Silvant Small Cap Growth Stock Fund(b)

     51,368        464,363  
    

 

 

  

Total Equity Funds
(Cost $10,556,679)

        12,650,973  
    

 

 

  

Fixed Income Funds 44.5%

 

RidgeWorth Seix Core Bond Fund(b)

     773        8,168  

RidgeWorth Seix Corporate Bond Fund(a)

     86,594        749,042  

RidgeWorth Seix Floating Rate High Income Fund(b)

     20,542        179,950  

RidgeWorth Seix High Income Fund(b)

     44,052        283,695  

RidgeWorth Seix High Yield Fund(b)

     32,627        273,089  

RidgeWorth Seix Total Return Bond Fund(b)

     1,491,595        15,542,421  

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

     176,210        1,769,150  
    

 

 

  

Total Fixed Income Funds
(Cost $18,797,777)

        18,805,515  
    

 

 

  

Exchange Traded Funds 23.7%

 

Consumer Discretionary Select Sector SPDR Fund

     1,153        101,406  

Consumer Staples Select Sector SPDR Fund

     115        6,277  

Energy Select Sector SPDR Fund

     977        68,292  

Financial Select Sector SPDR Fund

     5,864        139,153  

Health Care Select Sector SPDR Fund

     1,736        129,089  

Industrial Select Sector SPDR Fund

     1,313        85,424  

iShares Barclays 20+ Year Treasury Bond Fund

     1,319        159,217  

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     2,518        288,689  
     Shares      Value($)  

Exchange Traded Funds—continued

iShares Core S&P 500 Fund

     362        85,892  

iShares Core U.S. Aggregate Bond Fund

     66,127        7,174,118  

iShares Currency Hedged MSCI EAFE Fund

     12,705        349,642  

iShares Currency Hedged MSCI Emerging Markets Fund

     254        5,781  

iShares Dow Jones U.S. Real Estate Index Fund

     41        3,218  

iShares MSCI EAFE Fund

     9,744        606,954  

iShares MSCI Emerging Markets Index Fund

     13,654        537,831  

iShares MSCI India Fund

     36        1,133  

iShares Russell 2000 Index Fund

     102        14,023  

iShares U.S. Telecommunications Fund

     651        21,053  

Materials Select Sector SPDR Fund

     432        22,641  

Real Estate Select Sector SPDR Fund

     108        3,413  

Technology Select Sector SPDR Fund

     4,085        217,771  

Utilities Select Sector SPDR Fund

     113        5,798  

VanEck Vectors Gold Miners Fund

     161        3,694  
    

 

 

  

Total Exchange Traded Funds
(Cost $9,492,313)

        10,030,509  
    

 

 

  

Money Market Fund 1.7%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     713,569        713,569  
    

 

 

  

Total Money Market Fund
(Cost $713,569)

        713,569  
    

 

 

  

Total Investments
(Cost $39,560,338) — 99.8%

        42,200,566  

Other Assets in Excess of Liabilities — 0.2%

        67,574  
    

 

 

  

Net Assets — 100.0%

      $ 42,268,140  
    

 

 

  

 

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

 

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

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

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

 

See Notes to Financial Statements.

 

38

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Growth Allocation Strategy

 

     Shares      Value($)  

Equity Funds 64.2%

 

RidgeWorth Capital Innovations Global Resources and Infrastructure Fund(a)

     26,682        307,914  

RidgeWorth Ceredex Large Cap Value Equity Fund(b)

     470,190        8,077,873  

RidgeWorth Ceredex Mid-Cap Value Equity Fund(b)

     216,642        3,139,143  

RidgeWorth Ceredex Small Cap Value Equity Fund(a)

     75,879        985,664  

RidgeWorth International Equity Fund(b)

     265,739        2,710,541  

RidgeWorth Silvant Large Cap Growth Stock Fund(b)

     1,095,764        9,796,127  

RidgeWorth Silvant Small Cap Growth Stock Fund(b)

     100,689        910,233  
    

 

 

  

Total Equity Funds
(Cost $20,192,831)

        25,927,495  
    

 

 

  

Fixed Income Funds 12.8%

 

RidgeWorth Seix Core Bond Fund(b)

     269        2,845  

RidgeWorth Seix Corporate Bond Fund(a)

     28,983        250,707  

RidgeWorth Seix Floating Rate High Income Fund(b)

     6,841        59,927  

RidgeWorth Seix High Income Fund(b)

     14,695        94,633  

RidgeWorth Seix High Yield Fund(b)

     10,887        91,124  

RidgeWorth Seix Total Return Bond Fund(b)

     389,416        4,057,717  

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

     58,957        591,923  
    

 

 

  

Total Fixed Income Funds
(Cost $4,882,205)

        5,148,876  
    

 

 

  

Exchange Traded Funds 20.9%

 

Consumer Discretionary Select Sector SPDR Fund

     2,051        180,385  

Consumer Staples Select Sector SPDR Fund

     189        10,316  

Energy Select Sector SPDR Fund

     1,745        121,975  

Financial Select Sector SPDR Fund

     10,470        248,453  

Health Care Select Sector SPDR Fund

     3,091        229,847  

Industrial Select Sector SPDR Fund

     2,347        152,696  

iShares Barclays 20+ Year Treasury Bond Fund

     441        53,233  

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     839        96,191  
     Shares      Value($)  

Exchange Traded Funds—continued

iShares Core S&P 500 Fund

     555        131,685  

iShares Core U.S. Aggregate Bond Fund

     32,646        3,541,764  

iShares Currency Hedged MSCI EAFE Fund

     25,884        712,328  

iShares Currency Hedged MSCI Emerging Markets Fund

     476        10,834  

iShares Dow Jones U.S. Real Estate Index Fund

     82        6,436  

iShares MSCI EAFE Fund

     19,840        1,235,834  

iShares MSCI Emerging Markets Index Fund

     27,800        1,095,042  

iShares MSCI India Fund

     59        1,858  

iShares Russell 2000 Index Fund

     792        108,884  

iShares U.S. Telecommunications Fund

     1,132        36,609  

Materials Select Sector SPDR Fund

     790        41,404  

Real Estate Select Sector SPDR Fund

     217        6,857  

Technology Select Sector SPDR Fund

     7,287        388,470  

Utilities Select Sector SPDR Fund

     197        10,108  

VanEck Vectors Gold Miners Fund

     280        6,387  
    

 

 

  

Total Exchange Traded Funds
(Cost $7,518,636)

        8,427,596  
    

 

 

  

Money Market Fund 1.8%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     743,657        743,657  
    

 

 

  

Total Money Market Fund
(Cost $743,657)

        743,657  
    

 

 

  

Total Investments
(Cost $33,337,329) — 99.7%

        40,247,624  

Other Assets in Excess of Liabilities — 0.3%

        130,301  
    

 

 

  

Net Assets — 100.0%

      $ 40,377,925  
    

 

 

  

 

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

 

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

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

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, 2017

 

Moderate Allocation Strategy

 

     Shares      Value($)  

Equity Funds 47.3%

 

RidgeWorth Capital Innovations Global Resources and Infrastructure Fund(a)

     24,821        286,431  

RidgeWorth Ceredex Large Cap Value Equity Fund(b)

     435,818        7,487,355  

RidgeWorth Ceredex Mid-Cap Value Equity Fund(b)

     201,228        2,915,791  

RidgeWorth Ceredex Small Cap Value Equity Fund(a)

     71,289        926,049  

RidgeWorth International Equity Fund(b)

     246,652        2,515,854  

RidgeWorth Silvant Large Cap Growth Stock Fund(b)

     1,016,688        9,089,187  

RidgeWorth Silvant Small Cap Growth Stock Fund(b)

     94,148        851,096  
    

 

 

  

Total Equity Funds
(Cost $17,651,394)

        24,071,763  
    

 

 

  

Fixed Income Funds 24.3%

 

RidgeWorth Seix Core Bond Fund(b)

     515        5,445  

RidgeWorth Seix Corporate Bond Fund(a)

     70,112        606,471  

RidgeWorth Seix Floating Rate High Income Fund(b)

     16,626        145,640  

RidgeWorth Seix High Income Fund(b)

     35,619        229,386  

RidgeWorth Seix High Yield Fund(b)

     26,416        221,101  

RidgeWorth Seix Total Return Bond Fund(b)

     936,152        9,754,708  

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

     142,666        1,432,366  
    

 

 

  

Total Fixed Income Funds
(Cost $11,760,765)

        12,395,117  
    

 

 

  

Exchange Traded Funds 26.3%

 

Consumer Discretionary Select Sector SPDR Fund

     1,967        172,998  

Consumer Staples Select Sector SPDR Fund

     170        9,279  

Energy Select Sector SPDR Fund

     1,676        117,152  

Financial Select Sector SPDR Fund

     10,050        238,486  

Health Care Select Sector SPDR Fund

     2,960        220,106  

Industrial Select Sector SPDR Fund

     2,245        146,060  

iShares Barclays 20+ Year Treasury Bond Fund

     1,067        128,797  

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

     2,029        232,625  
     Shares      Value($)  

Exchange Traded Funds—continued

iShares Core S&P 500 Fund

     466        110,568  

iShares Core U.S. Aggregate Bond Fund

     79,601        8,635,912  

iShares Currency Hedged MSCI EAFE Fund

     23,992        660,260  

iShares Currency Hedged MSCI Emerging Markets Fund

     430        9,787  

iShares Dow Jones U.S. Real Estate Index Fund

     56        4,395  

iShares MSCI EAFE Fund

     18,450        1,149,250  

iShares MSCI Emerging Markets Index Fund

     25,858        1,018,547  

iShares MSCI India Fund

     70        2,204  

iShares Russell 2000 Index Fund

     623        85,650  

iShares U.S. Telecommunications Fund

     1,069        34,571  

Materials Select Sector SPDR Fund

     753        39,465  

Real Estate Select Sector SPDR Fund

     218        6,889  

Technology Select Sector SPDR Fund

     6,975        371,837  

Utilities Select Sector SPDR Fund

     186        9,544  

VanEck Vectors Gold Miners Fund

     239        5,452  
    

 

 

  

Total Exchange Traded Funds
(Cost $12,436,597)

        13,409,834  
    

 

 

  

Money Market Fund 2.3%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     1,169,898        1,169,898  
    

 

 

  

Total Money Market Fund
(Cost $1,169,898)

        1,169,898  
    

 

 

  

Total Investments
(Cost $43,018,654) — 100.2%

        51,046,612  

Liabilities in Excess of Other Assets — (0.2)%

        (124,282 ) 
    

 

 

  

Net Assets — 100.0%

      $ 50,922,330  
    

 

 

  

 

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

 

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

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

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

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     Capital
Innovations
Global Resources
and Infrastructure
Fund		     Ceredex Large
Cap Value Equity
Fund		     Ceredex Mid-Cap
Value Equity
Fund		     Ceredex Small
Cap Value Equity
Fund		  

Assets:

         

Total Investments, at Cost

      $8,674,747       $1,665,449,292       $3,045,864,433       $726,480,001  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $9,338,736       $2,118,052,077       $3,486,692,824       $934,283,254  

Cash

      2,532       —       —       231  

Interest and Dividends Receivable

      14,680       2,268,541       5,048,527       1,391,216  

Securities Lending Income Receivable

      159       1,028       182,705       —  

Foreign Currency, at Value (Cost $14, $-, $- and $-, respectively)

      14       —       —       —  

Receivable for Capital Shares Issued

      15,750       9,122,402       3,659,051       732,258  

Receivable for Investment Securities Sold

      —       25,792,436       67,914,579       —  

Reclaims Receivable

      4,265       —       —       —  

Receivable from Investment Adviser

      10,365       167,215       —       —  

Prepaid Expenses and Other Assets

      13,287       54,910       69,677       30,559  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      9,399,788       2,155,458,609       3,563,567,363       936,437,518  
  

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

         

Payable for Investment Securities Purchased

      —       28,952,130       53,574,703       —  

Payable for Capital Shares Redeemed

      9,804       14,735,057       4,024,033       824,613  

Payable Upon Return of Securities Loaned

      275,536       —       69,152,134       —  

Investment Advisory Fees Payable

      7,712       1,202,670       2,011,554       659,606  

Compliance and Fund Services Fees Payable

      114       26,947       42,457       11,544  

Distribution and Service Fees Payable

      559       105,712       142,047       52,310  

Trustee Fees Payable

      6       1,322       2,082       563  

Other Accrued Expenses

      4,270       1,462,887       1,822,749       619,071  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      298,001       46,486,725       130,771,759       2,167,707  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $9,101,787       $2,108,971,884       $3,432,795,604       $934,269,811  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

         

Capital

      $9,154,083       $1,514,733,416       $2,747,251,474       $672,517,259  

Accumulated Net Investment Income (Loss)

      25,924       8,367,620       2,004,033       —  

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

      (742,206 )      133,268,063       242,711,706       53,949,299  

Net Unrealized Appreciation on Investments and Foreign Currencies

      663,986       452,602,785       440,828,391       207,803,253  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $9,101,787       $2,108,971,884       $3,432,795,604       $934,269,811  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

         

I Shares

      $7,420,615       $1,432,996,052       $2,716,559,620       $786,245,447  

A Shares

      1,409,104       335,256,465       369,102,077       123,494,970  

C Shares

      272,068       18,590,129       55,579,656       24,529,394  

IS Shares

      —       322,129,238       291,554,251       —  

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

         

I Shares

      642,859       83,731,242       187,594,954       60,525,813  

A Shares

      122,573       19,747,542       25,759,334       9,815,329  

C Shares

      24,199       1,120,574       3,965,427       2,140,790  

IS Shares

      —       18,751,703       20,118,468       —  

Net Asset Value and Redemption Price Per Share:

         

I Shares

      $11.54       $17.11       $14.48       $12.99  

A Shares

      11.50       16.98       14.33       12.58  

C Shares(a)

      11.24       16.59       14.02       11.46  

IS Shares

      —       17.18       14.49       —  

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

         

A Shares

      $12.20       $18.02       $15.20       $13.35  

Maximum Sales Charge — A Shares

      5.75 %      5.75 %      5.75 %      5.75 % 

 

* Investments include securities on loan of $1,102,933, $9,073,947, $74,559,593 and $-, respectively.

 

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

 

See Notes to Financial Statements.

 

41

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     Innovative
Growth Stock
Fund		     International
Equity Fund		     Silvant Large Cap
Growth Stock
Fund		     Silvant Small Cap
Growth Stock
Fund		  

Assets:

         

Total Investments, at Cost

      $17,849,267       $67,169,461       $133,461,227       $37,526,997  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $28,963,371       $74,297,369       $214,158,234       $44,775,655  

Interest and Dividends Receivable

      3,001       57,937       57,975       11,842  

Securities Lending Income Receivable

      —       881       508       2,033  

Foreign Currency, at Value (Cost $-, $22,446, $- and $-, respectively)

      —       23,107       —       —  

Receivable for Capital Shares Issued

      25,487       90,663       203,946       7,657  

Receivable for Investment Securities Sold

      71,213       193,330       —       —  

Reclaims Receivable

      —       71,079       —       —  

Receivable from Investment Adviser

      —       11,525       18,803       1,314  

Prepaid Expenses and Other Assets

      8,104       14,549       15,657       19,548  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      29,071,176       74,760,440       214,455,123       44,818,049  
  

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

         

Payable for Investment Securities Purchased

      290,199       798,627       —       —  

Payable for Capital Shares Redeemed

      36,764       40,036       217,701       42,012  

Payable Upon Return of Securities Loaned

      —       2,043,412       —       3,785,707  

Investment Advisory Fees Payable

      21,421       50,945       128,877       29,998  

Compliance and Fund Services Fees Payable

      356       888       2,683       517  

Distribution and Service Fees Payable

      1,664       3,533       46,519       5,858  

Trustee Fees Payable

      17       —       132       25  

Other Accrued Expenses

      15,303       29,163       120,536       34,164  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      365,724       2,966,604       516,448       3,898,281  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $28,705,452       $71,793,836       $213,938,675       $40,919,768  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

         

Capital

      $16,752,883       $66,587,830       $111,640,206       $31,213,043  

Accumulated Net Investment Income (Loss)

      (78,294 )      109,720       (128,809 )      (66,579 ) 

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

      916,759       (2,028,108 )      21,730,271       2,524,646  

Net Unrealized Appreciation on Investments and Foreign Currencies

      11,114,104       7,124,394       80,697,007       7,248,658  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $28,705,452       $71,793,836       $213,938,675       $40,919,768  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

         

I Shares

      $22,330,007       $51,120,285       $92,637,677       $26,928,856  

A Shares

      6,375,445       14,115,614       60,899,600       7,008,005  

C Shares

      —       —       36,140,851       4,757,770  

IS Shares

      —       6,557,937       24,260,547       2,225,137  

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

         

I Shares

      1,145,718       5,014,264       10,390,977       3,007,920  

A Shares

      343,475       1,405,019       8,453,750       962,568  

C Shares

      —       —       7,827,800       1,410,665  

IS Shares

      —       642,774       2,712,669       246,205  

Net Asset Value and Redemption Price Per Share:

         

I Shares

      $19.49       $10.19       $8.92       $8.95  

A Shares

      18.56       10.05       7.20       7.28  

C Shares(a)

      —       —       4.62       3.37  

IS Shares

      —       10.20       8.94       9.04  

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

         

A Shares

      $19.69       $10.66       $7.64       $7.72  

Maximum Sales Charge — A Shares

      5.75 %      5.75 %      5.75 %      5.75 % 

 

* Investments include securities on loan of $-, $4,116,565, $4,356,267 and $5,972,653, respectively.

 

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

 

See Notes to Financial Statements.

 

42

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     Conservative
Allocation
Strategy		     Growth
Allocation
Strategy		     Moderate
Allocation
Strategy		  

Assets:

       

Total Investments, at Cost

      $39,560,338       $33,337,329       $43,018,654  
  

 

 

    

 

 

    

 

 

  

Investments in Affiliates, at Value

      $31,456,488       $31,076,371       $36,466,880  

Investments in Unaffiliated, at Value

      10,744,078       9,171,253       14,579,732  
  

 

 

    

 

 

    

 

 

  

Total Investments

      42,200,566       40,247,624       51,046,612  
  

 

 

    

 

 

    

 

 

  

Dividends Receivable

      78,708       21,900       51,853  

Receivable for Capital Shares Issued

      2,499       90,764       72,813  

Receivable for Investment Securities Sold

      132,400       127,000       18,000  

Receivable from Investment Adviser

      3,729       3,775       4,557  

Prepaid Expenses and Other Assets

      16,771       15,144       17,089  
  

 

 

    

 

 

    

 

 

  

Total Assets

      42,434,673       40,506,207       51,210,924  
  

 

 

    

 

 

    

 

 

  

Liabilities:

       

Payable for Investment Securities Purchased

      78,518       56,581       132,285  

Payable for Capital Shares Redeemed

      54,442       25,676       97,701  

Investment Advisory Fees Payable

      3,634       3,429       4,405  

Compliance and Fund Services Fees Payable

      526       510       649  

Distribution and Service Fees Payable

      16,046       3,187       11,451  

Trustee Fees Payable

      26       25       32  

Other Accrued Expenses

      13,341       38,874       42,071  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      166,533       128,282       288,594  
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      $42,268,140       $40,377,925       $50,922,330  
  

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

       

Capital

      $38,983,678       $32,092,089       $40,933,677  

Accumulated Net Investment Loss

      114,183       5,361       54,943  

Accumulated Net Realized Gain from Investments Transactions

      530,051       1,370,180       1,905,752  

Net Unrealized Appreciation on Investments

      2,640,228       6,910,295       8,027,958  
  

 

 

    

 

 

    

 

 

  

Net Assets

      $42,268,140       $40,377,925       $50,922,330  
  

 

 

    

 

 

    

 

 

  

Net Assets:

       

I Shares

      $17,927,505       $32,561,998       $29,987,867  

A Shares

      8,047,405       5,812,703       10,864,245  

C Shares

      16,293,230       2,003,224       10,070,218  

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

       

I Shares

      1,453,083       3,128,729       3,327,287  

A Shares

      651,574       561,450       1,212,445  

C Shares

      1,336,588       198,510       1,134,663  

Net Asset Value and Redemption Price Per Share:

 

I Shares

      $12.34       $10.41       $9.01  

A Shares

      12.35       10.35       8.96  

C Shares(a)

      12.19       10.09       8.88  

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

       

A Shares

      $12.97       $10.98       $9.51  

Maximum Sales Charge — A Shares

      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.

 

43

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     Capital
Innovations
Global
Resources and
Infrastructure
Fund		     Ceredex Large
Cap Value
Equity Fund		     Ceredex Mid-Cap
Value Equity
Fund		     Ceredex Small
Cap Value
Equity Fund		  

Investment Income:

         

Dividend Income

      $123,498       $57,565,486       $71,415,918       $19,876,413  

Net Income from Securities Lending

      178       27,705       553,949       —  

Less: Foreign Taxes Withheld

      (5,512 )      —       —       (43,392 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      118,164       57,593,191       71,969,867       19,833,021  
  

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

         

Investment Advisory Fees

      52,660       13,960,279       22,594,937       7,779,690  

Administration Fees

      686       211,567       323,824       92,970  

Fund Accounting Fees

      561       263,116       398,661       116,187  

Transfer Agency Fees

      4,566       165,286       1,358,753       113,979  

Compliance & Fund Services Fees

      304       118,702       183,031       51,863  

Distribution and Service Fees — A Shares

      3,483       1,066,010       1,133,134       365,724  

Distribution and Service Fees — C Shares

      2,320       189,371       564,071       268,637  

Shareholder Servicing Fees — I Shares

      3,084       5,526,628       7,405,233       2,653,716  

Shareholder Servicing Fees — A Shares

      2       1,221,361       1,352,646       426,230  

Custodian Fees

      8,293       30,554       47,316       18,883  

Printing Fees

      216       127,804       362,968       83,451  

Registration Fees

      37,115       57,823       110,558       50,960  

Trustee Fees

      281       121,693       187,326       53,626  

Professional Fees

      3,558       108,696       166,653       48,283  

Tax Fees

      10,414       —       —       —  

Miscellaneous Fees

      2,143       —       —       —  

Other Fees

      168       145,996       225,519       71,133  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      129,854       23,314,886       36,414,630       12,195,332  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (63,379 )      (2,178,652 )      (243,891 )      (2,929 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      66,475       21,136,234       36,170,739       12,192,403  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      51,689       36,456,957       35,799,128       7,640,618  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

         

Net Realized Gain (Loss) from:

         

Investment Transactions and Foreign Currency Transactions

      157,651       198,054,112       416,381,930       123,270,633  

Net Change in Unrealized Appreciation on:

         

Investments and Foreign Currencies

      847,865       129,586,427       220,580,870       47,650,389  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain on Investments and Foreign Currencies

      1,005,516       327,640,539       636,962,800       170,921,022  
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $1,057,205       $364,097,496       $672,761,928       $178,561,640  
  

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

44

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     Innovative
Growth Stock
Fund		     International
Equity Fund		     Silvant Large
Cap Growth
Stock Fund		     Silvant Small
Cap Growth
Stock Fund		  

Investment Income:

         

Dividend Income

      $28,298       $972,485       $2,133,472       $358,016  

Net Income from Securities Lending

      —       11,095       58,969       47,762  

Less: Foreign Taxes Withheld

      —       (90,967 )      —       —  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      28,298       892,613       2,192,441       405,778  
  

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

         

Investment Advisory Fees

      203,727       515,041       1,604,583       401,915  

Administration Fees

      2,378       6,012       22,739       4,690  

Fund Accounting Fees

      2,818       7,586       28,082       5,748  

Transfer Agency Fees

      13,314       35,405       276,224       23,092  

Compliance & Fund Services Fees

      1,405       3,312       12,913       2,665  

Distribution and Service Fees — A Shares

      20,366       27,233       182,043       21,273  

Distribution and Service Fees — C Shares

      —       —       375,982       47,366  

Shareholder Servicing Fees — I Shares

      47,621       45,088       353,264       107,937  

Shareholder Servicing Fees — A Shares

      5,535       1,478       19,851       2,600  

Custodian Fees

      6,590       18,502 (a)      4,453       4,005  

Printing Fees

      3,296       12,448       18,435       4,983  

Registration Fees

      30,453       49,267       53,589       52,955  

Trustee Fees

      1,436       3,269       13,441       2,772  

Professional Fees

      1,311       9,122       11,490       2,409  

Other Fees

      11,631       29,905       24,992       12,319  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      351,881       763,668       3,002,081       696,729  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (26,011 )      (64,503 )      (292,474 )      (46,193 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      325,870       699,165       2,709,607       650,536  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income (Loss)

      (297,572 )      193,448       (517,166 )      (244,758 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

         

Net Realized Gain (Loss) from:

         

Investment Transactions and Foreign Currency Transactions

      3,192,828       (210,548 )      51,578,602       6,629,706  

Net Change in Unrealized Appreciation (Depreciation) on:

         

Investments and Foreign Currencies

      1,488,150       5,750,729       (34,342,881 )      2,167,591  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies

      4,680,978       5,540,181       17,235,721       8,797,297  
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $4,383,406       $5,733,629       $16,718,555       $8,552,539  
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Includes a non-recurring refund for overbilling of prior years’.

 

See Notes to Financial Statements.

 

45

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     Conservative
Allocation
Strategy		     Growth
Allocation
Strategy		     Moderate
Allocation
Strategy		  

Investment Income:

 

Dividend Income

      $410,517       $227,626       $386,306  

Dividend Income from Affiliated Investment Companies

      642,543       359,951       569,149  
  

 

 

    

 

 

    

 

 

  

Total Investment Income

      1,053,060       587,577       955,455  
  

 

 

    

 

 

    

 

 

  

Expenses:

 

Investment Advisory Fees

      55,209       41,377       57,682  

Administration Fees

      5,475       4,105       5,722  

Fund Accounting Fees

      20,073       20,072       20,073  

Transfer Agency Fees

      24,461       12,854       24,591  

Compliance & Fund Services Fees

      3,138       2,381       3,283  

Distribution and Service Fees — A Shares

      34,779       18,580       33,015  

Distribution and Service Fees — C Shares

      181,193       23,747       108,534  

Shareholder Servicing Fees — I Shares

      29,208       119,496       141,217  

Shareholder Servicing Fees — A Shares

      7,175       987       9,720  

Custodian Fees

      16,390       13,934       13,534  

Printing Fees

      7,229       2,951       5,202  

Registration Fees

      42,169       41,924       39,934  

Trustee Fees

      3,292       2,446       3,414  

Professional Fees

      2,536       2,030       2,807  

Other Fees

      10,250       9,518       10,753  
  

 

 

    

 

 

    

 

 

  

Total Expenses

      442,577       316,402       479,481  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (59,801 )      (78,160 )      (81,002 ) 
  

 

 

    

 

 

    

 

 

  

Net Expenses

      382,776       238,242       398,479  
  

 

 

    

 

 

    

 

 

  

Net Investment Income

      670,284       349,335       556,976  
  

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

 

Net Realized Gain from:

 

Investment Transactions

      76,962       737,751       1,733,770  

Capital Gain Received from Investments in Affiliated Investment Companies

      1,180,208       1,618,807       1,748,446  

Net Change in Unrealized Appreciation on:

 

Investments

      900,241       1,451,357       381,584  
  

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain on Investments

      2,157,411       3,807,915       3,863,800  
  

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $2,827,695       $4,157,250       $4,420,776  
  

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

46

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

     Capital Innovations Global Resources and
Infrastructure Fund		     Ceredex Large Cap Value
Equity Fund		  
     04/01/16-
03/31/17		     12/01/15-
03/31/16*		     12/01/14-
11/30/15		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

           

Net Investment Income

    $ 51,689     $ 28,941     $ 135,116     $ 36,456,957     $ 29,744,157  

Net Realized Gain (Loss)

      157,651       (405,694 )      (197,517 )      198,054,112       61,008,493  

Net Change in Unrealized Appreciation (Depreciation)

      847,865       (22,799 )      (1,484,391 )      129,586,427       (146,176,551 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      1,057,205       (399,552 )      (1,546,792 )      364,097,496       (55,423,901 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

      (68,970 )      (47,940 )      (100,601 )      (23,505,845 )      (24,293,067 ) 

A Shares

      (26,765 )      (29,983 )      (32,013 )      (4,823,580 )      (4,596,165 ) 

C Shares

      (4,692 )      (4,305 )      (3,437 )      (171,194 )      (151,415 ) 

IS Shares

      —       —       —       (5,536,785 )      (1,930,728 ) 

Net Realized Gains:

           

I Shares

      —       —       —       (5,721,019 )      (130,478,463 ) 

A Shares

      —       —       —       (1,413,158 )      (31,413,333 ) 

C Shares

      —       —       —       (75,218 )      (1,618,805 ) 

IS Shares

      —       —       —       (1,160,657 )      (8,723,251 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

      (100,427 )      (82,228 )      (136,051 )      (42,407,456 )      (203,205,227 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

      4,736,381       (1,509,530 )      (9,219,400 )      (308,024,134 )      (93,522,505 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

      5,693,159       (1,991,310 )      (10,902,243 )      13,665,906       (352,151,633 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

Beginning of Year

      3,408,628       5,399,938       16,302,181       2,095,305,978       2,447,457,611  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

    $ 9,101,787     $ 3,408,628     $ 5,399,938     $ 2,108,971,884     $ 2,095,305,978  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

    $ 25,924     $ 18,707     $ (111,545 )    $ 8,367,620     $ 5,948,067  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

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

 

See Notes to Financial Statements.

 

47

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Ceredex Mid-Cap Value
Equity Fund		     Ceredex Small Cap Value
Equity Fund		     Innovative Growth
Stock Fund		  
    04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income (Loss)

   $ 35,799,128     $ 43,781,852     $ 7,640,618     $ 9,401,534     $ (297,572 )    $ (418,433 ) 

Net Realized Gain

     416,381,930       58,903,761       123,270,633       160,397,157       3,192,828       2,936,733  

Net Change in Unrealized Appreciation (Depreciation)

     220,580,870       (309,127,228 )      47,650,389       (185,414,369 )      1,488,150       (4,840,884 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     672,761,928       (206,441,615 )      178,561,640       (15,615,678 )      4,383,406       (2,322,584 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

     (31,948,717 )      (35,723,021 )      (7,849,349 )      (11,307,431 )      —       —  

A Shares

     (3,509,056 )      (3,557,031 )      (918,795 )      (1,360,683 )      —       —  

C Shares

     (286,575 )      (401,359 )      (130,786 )      (231,971 )      —       —  

IS Shares

     (3,721,071 )      (2,319,371 )      —       —       —       —  

Net Realized Gains:

 

I Shares

     (91,348,699 )      (161,562,467 )      (33,290,941 )      (207,814,500 )      (2,004,924 )      (1,394,244 ) 

A Shares

     (13,157,105 )      (23,673,405 )      (5,439,162 )      (33,547,089 )      (970,891 )      (701,510 ) 

C Shares

     (1,988,365 )      (4,181,619 )      (1,281,420 )      (8,088,193 )      —       —  

IS Shares

     (8,470,043 )      (7,897,241 )      —       —       —       —  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (154,429,631 )      (239,315,514 )      (48,910,453 )      (262,349,867 )      (2,975,815 )      (2,095,754 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (457,696,242 )      (435,212,555 )      (164,281,528 )      (67,849,231 )      967,671       (4,108,103 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     60,636,055       (880,969,684 )      (34,630,341 )      (345,814,776 )      2,375,262       (8,526,441 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

     3,372,159,549       4,253,129,233       968,900,152       1,314,714,928       26,330,190       34,856,631  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 3,432,795,604     $ 3,372,159,549     $ 934,269,811     $ 968,900,152     $ 28,705,452     $ 26,330,190  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ 2,004,033     $ 10,555,383     $ —     $ 1,382,858     $ (78,294 )    $ (79,099 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

48

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    International Equity Fund     Silvant Large Cap Growth
Stock Fund		     Silvant Small Cap Growth
Stock Fund		  
    04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income (Loss)

   $ 193,448     $ 268,555     $ (517,166 )    $ (930,659 )    $ (244,758 )    $ (718,976 ) 

Net Realized Gain (Loss)

     (210,548 )      2,971,796       51,578,602       12,550,924       6,629,706       23,215,285  

Net Change in Unrealized Appreciation (Depreciation)

     5,750,729       (3,563,428 )      (34,342,881 )      (16,825,838 )      2,167,591       (34,291,359 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     5,733,629       (323,077 )      16,718,555       (5,205,573 )      8,552,539       (11,795,050 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

     (197,965 )      (121,394 )      —       —       —       —  

A Shares

     (61,299 )      (23,586 )      —       —       —       —  

IS Shares

     (32,825 )      —       —       —       —       —  

Net Realized Gains:

 

I Shares

     (225,940 )      (879,695 )      (11,447,462 )      (9,096,956 )      (3,661,429 )      (14,333,125 ) 

A Shares

     (78,574 )      (354,394 )      (8,690,053 )      (5,723,860 )      (1,015,963 )      (2,962,694 ) 

C Shares

     —       —       (7,642,508 )      (5,426,509 )      (1,293,435 )      (2,793,870 ) 

IS Shares

     (31,540 )      (765,921 )      (3,486,146 )      (3,074,932 )      (439,680 )      (1,477,592 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (628,143 )      (2,144,990 )      (31,266,169 )      (23,322,257 )      (6,410,507 )      (21,567,281 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     28,344,755       17,666,205       (21,363,216 )      (14,457,456 )      (12,488,352 )      (64,115,362 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     33,450,241       15,198,138       (35,910,830 )      (42,985,286 )      (10,346,320 )      (97,477,693 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

     38,343,595       23,145,457       249,849,505       292,834,791       51,266,088       148,743,781  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 71,793,836     $ 38,343,595     $ 213,938,675     $ 249,849,505     $ 40,919,768     $ 51,266,088  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ 109,720     $ 225,036     $ (128,809 )    $ (192,950 )    $ (66,579 )    $ (82,836 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

49

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Conservative Allocation Strategy     Growth Allocation Strategy     Moderate Allocation Strategy  
    04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income

   $ 670,284     $ 853,413     $ 349,335     $ 488,808     $ 556,976     $ 952,973  

Net Realized Gain

     1,257,170       69,982       2,356,558       2,558,148       3,482,216       6,381,339  

Net Change in Unrealized Appreciation (Depreciation)

     900,241       (2,319,723 )      1,451,357       (5,495,254 )      381,584       (10,430,565 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     2,827,695       (1,396,328 )      4,157,250       (2,448,298 )      4,420,776       (3,096,253 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

     (491,676 )      (572,569 )      (399,125 )      (479,108 )      (511,434 )      (805,343 ) 

A Shares

     (170,167 )      (204,021 )      (62,334 )      (67,349 )      (147,917 )      (206,746 ) 

C Shares

     (231,265 )      (157,737 )      (11,852 )      (11,099 )      (85,894 )      (124,573 ) 

Net Realized Gains:

 

I Shares

     (84,915 )      (799,647 )      (1,921,798 )      (3,232,886 )      (2,095,188 )      (6,865,380 ) 

A Shares

     (36,161 )      (349,352 )      (358,017 )      (545,095 )      (672,061 )      (1,841,985 ) 

C Shares

     (72,207 )      (480,071 )      (134,813 )      (202,838 )      (680,613 )      (1,721,546 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (1,086,391 )      (2,563,397 )      (2,887,939 )      (4,538,375 )      (4,193,107 )      (11,565,573 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (24,138,818 )      1,826,875       (8,953,205 )      (10,236,774 )      (18,536,293 )      (41,933,238 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (22,397,514 )      (2,132,850 )      (7,683,894 )      (17,223,447 )      (18,308,624 )      (56,595,064 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

     64,665,654       66,798,504       48,061,819       65,285,266       69,230,954       125,826,018  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 42,268,140     $ 64,665,654     $ 40,377,925     $ 48,061,819     $ 50,922,330     $ 69,230,954  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ 114,183     $ 125,029     $ 5,361     $ 14,594     $ 54,943     $ 62,876  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

50

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		     Payments
by
Affiliates		     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
Reimburse
ments)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Capital Innovations Global Resources and Infrastructure Fund

 

                      

I Shares

                                

Year Ended March 31, 2017

     $9.04       $0.12       $2.58       $2.70       $(0.20 )      $—       $—       $(0.20 )      $—       $11.54       $7,421       30.02 %      1.15 %      2.38 %      1.12 %      52 % 

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  

A Shares

                                

Year Ended March 31, 2017

     9.03       0.08       2.59       2.67       (0.20 )      —       —       (0.20 )      —       11.50       1,409       29.72       1.40       2.54       0.79       52  

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  

C Shares

                                

Year Ended March 31, 2017

     8.90       — (f)      2.54       2.54       (0.20 )      —       —       (0.20 )      —       11.24       272       28.68       2.15       3.29       0.01       52  

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       — (f)      —       —       —       —       11.41       819       14.03       2.35       7.57       (0.15 )      7  

Ceredex Large Cap Value Equity Fund

 

                        

I Shares

                                

Year Ended March 31, 2017

     14.71       0.28       2.45       2.73       (0.27 )      —       (0.06 )      (0.33 )      —       17.11       1,432,996       18.63       0.97       1.09       1.73       77  

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  

A Shares

                                

Year Ended March 31, 2017

     14.60       0.23       2.43       2.66       (0.22 )      —       (0.06 )      (0.28 )      —       16.98       335,256       18.31       1.25       1.36       1.45       77  

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  

C Shares

                                

Year Ended March 31, 2017

     14.28       0.15       2.37       2.52       (0.15 )      —       (0.06 )      (0.21 )      —       16.59       18,590       17.70       1.72       1.72       0.98       77  

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  

IS Shares

                                

Year Ended March 31, 2017

     14.77       0.32       2.46       2.78       (0.31 )      —       (0.06 )      (0.37 )      —       17.18       322,129       18.92       0.72       0.72       1.98       77  

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(g)

     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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

51

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		     Payments
by
Affiliates		     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
Reimburse
ments)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Ceredex Mid-Cap Value Equity Fund

 

                        

I Shares

                                

Year Ended March 31, 2017

   $ 12.34     $ 0.15     $ 2.66     $ 2.81     $ (0.17 )    $ —     $ (0.50 )    $ (0.67 )    $ —     $ 14.48     $ 2,716,560       23.08 %       1.08 %       1.08 %       1.12 %       108 %  

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  

A Shares

                                

Year Ended March 31, 2017

     12.22       0.11       2.63       2.74       (0.13 )      —       (0.50 )      (0.63 )      —       14.33       369,102       22.69       1.39       1.45       0.81       108  

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  

C Shares

                                

Year Ended March 31, 2017

     11.96       0.05       2.58       2.63       (0.07 )      —       (0.50 )      (0.57 )      —       14.02       55,580       22.23 (h)      1.80       1.80       0.39       108  

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  

IS Shares

                                

Year Ended March 31, 2017

     12.36       0.19       2.66       2.85       (0.22 )      —       (0.50 )      (0.72 )      —       14.49       291,554       23.34       0.80       0.80       1.44       108  

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(g)

     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  

Ceredex Small Cap Value Equity Fund

 

                            

I Shares

                                

Year Ended March 31, 2017

     11.30       0.11       2.27       2.38       (0.13 )      —       (0.56 )      (0.69 )      —       12.99       $786,245       21.15       1.24       1.24       0.87       29  

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  

A Shares

                                

Year Ended March 31, 2017

     10.96       0.07       2.20       2.27       (0.09 )      —       (0.56 )      (0.65 )      —       12.58       123,495       20.81 (h)      1.55       1.55       0.58       29  

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 )(h)      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  

C Shares

                                

Year Ended March 31, 2017

     10.04       0.02       2.02       2.04       (0.06 )      —       (0.56 )      (0.62 )      —       11.46       24,529       20.35       1.90       1.90       0.22       29  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

52

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		     Payments
by
Affiliates		     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
Reimburse
ments)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

Innovative Growth Stock Fund

 

                            

I Shares

                                

Year Ended March 31, 2017

   $ 19.11     $ (0.23 )    $ 3.83     $ 3.60     $ —     $ —     $ (3.22 )    $ (3.22 )    $ —     $ 19.49     $ 22,330       20.63 %       1.30 %       1.44 %       (1.18 ) %       64 %  

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  

A Shares

                                

Year Ended March 31, 2017

     18.37       (0.26 )      3.67       3.41       —       —       (3.22 )      (3.22 )      —       18.56       6,375       20.42       1.50       1.55       (1.39 )      64  

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  

International Equity Fund

 

                            

I Shares

                                

Year Ended March 31, 2017

     9.30       0.03       0.94       0.97       (0.04 )      —       (0.04 )      (0.08 )      —       10.19       51,120       10.54 (h)      1.14 (i)      1.24 (i)      0.34       37  

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 (j)      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  

A Shares

                                

Year Ended March 31, 2017

     9.18       0.01       0.93       0.94       (0.03 )      —       (0.04 )      (0.07 )      —       10.05       14,116       10.41       1.33 (i)      1.43 (i)      0.12       37  

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  

IS Shares

                                

Year Ended March 31, 2017

     9.31       0.05       0.93       0.98       (0.05 )      —       (0.04 )      (0.09 )      —       10.20       6,558       10.62       1.03 (i)      1.14 (i)      0.49       37  

Period Ended March 31, 2016(k)

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

Silvant Large Cap Growth Stock Fund

 

                            

I Shares

                                

Year Ended March 31, 2017

     9.38       — (f)      0.70       0.70       —       —       (1.16 )      (1.16 )      —       8.92       92,638       8.14       0.97       1.26       (0.02 )      42  

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  

A Shares

                                

Year Ended March 31, 2017

     7.81       (0.02 )      0.57       0.55       —       —       (1.16 )      (1.16 )      —       7.20       60,900       7.83       1.23       1.24       (0.27 )      42  

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

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

53

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		     Payments
by
Affiliates		     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
Reimburse
ments)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

C Shares

                                

Year Ended March 31, 2017

   $ 5.45     $ (0.05 )    $ 0.38     $ 0.33     $ —     $ —     $ (1.16 )    $ (1.16 )    $ —     $ 4.62     $ 36,141       7.16 %       1.90 %       1.90 %       (0.95 ) %       42 %  

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  

IS Shares

                                

Year Ended March 31, 2017

     9.39       0.01       0.70       0.71       —       —       (1.16 )      (1.16 )      —       8.94       24,261       8.23       0.90       0.90       0.05       42  

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(g)

     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  

Silvant Small Cap Growth Stock Fund

 

                            

I Shares

                                

Year Ended March 31, 2017

     8.52       (0.04 )      1.66       1.62       —       —       (1.19 )      (1.19 )      —       8.95       26,929       19.45       1.29       1.43       (0.44 )      56  

Year Ended March 31, 2016

     14.83       (0.10 )      (1.54 )      (1.64 )      —       —       (4.67 )      (4.67 )      —       8.52       36,436       (13.36 )(h)      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 (h)      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  

A Shares

                                

Year Ended March 31, 2017

     7.13       (0.04 )      1.38       1.34       —       —       (1.19 )      (1.19 )      —       7.28       7,008       19.30       1.41       1.43       (0.55 )      56  

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  

C Shares

                                

Year Ended March 31, 2017

     3.88       (0.05 )      0.73       0.68       —       —       (1.19 )      (1.19 )      —       3.37       4,758       18.39       2.08       2.09       (1.21 )      56  

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  

IS Shares

                                

Year Ended March 31, 2017

     8.57       (0.02 )      1.68       1.66       —       —       (1.19 )      (1.19 )      —       9.04       2,225       19.82       1.08       1.10       (0.20 )      56  

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(g)

     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  

Conservative Allocation Strategy(l)

 

                            

I Shares

                                

Year Ended March 31, 2017

     12.01       0.20       0.47       0.67       (0.29 )      —       (0.05 )      (0.34 )      —       12.34       17,928       5.66       0.30       0.46       1.59       14  

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 (h)      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 (h)      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  

A Shares

                                

Year Ended March 31, 2017

     12.01       0.16       0.47       0.63       (0.24 )      —       (0.05 )      (0.29 )      —       12.35       8,047       5.28       0.60       0.70       1.26       14  

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  

 

See Notes to Financial Highlights and 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		     Payments
by
Affiliates		     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
Reimburse
ments)(c)		     Ratio of
Net
Investment
Income to
Average
Net
Assets(c)		     Portfolio
Turnover
Rate(d)		  

C Shares

                                

Year Ended March 31, 2017

   $ 11.86     $ 0.08     $ 0.46     $ 0.54     $ (0.16 )    $ —     $ (0.05 )    $ (0.21 )    $ —     $ 12.19     $ 16,293       4.61 %       1.30 %       1.35 %       0.65 %       14 %  

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 (h)      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 (h)      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  

Growth Allocation Strategy(l)

 

                            

I Shares

                                

Year Ended March 31, 2017

     10.13       0.10       0.96       1.06       (0.13 )      —       (0.65 )      (0.78 )      —       10.41       32,562       10.83       0.50       0.74       0.92       20  

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  

A Shares

                                

Year Ended March 31, 2017

     10.07       0.07       0.97       1.04       (0.11 )      —       (0.65 )      (0.76 )      —       10.35       5,813       10.66       0.69       0.69       0.72       20  

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  

C Shares

                                

Year Ended March 31, 2017

     9.84       0.01       0.95       0.96       (0.06 )      —       (0.65 )      (0.71 )      —       10.09       2,003       10.00       1.30       1.37       0.07       20  

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       — (f)      0.73       0.73       (0.16 )      —       (0.52 )      (0.68 )      —       11.18       3,192       6.70       1.30       1.30       — (f)      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  

Moderate Allocation Strategy(l)

 

                            

I Shares

                                

Year Ended March 31, 2017

     9.05       0.10       0.61       0.71       (0.15 )      —       (0.60 )      (0.75 )      —       9.01       29,988       8.08       0.50       0.72       1.14       15  

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  

A Shares

                                

Year Ended March 31, 2017

     9.01       0.09       0.59       0.68       (0.13 )      —       (0.60 )      (0.73 )      —       8.96       10,864       7.84       0.70       0.71       0.98       15  

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  

C Shares

                                

Year Ended March 31, 2017

     8.93       0.03       0.60       0.63       (0.08 )      —       (0.60 )      (0.68 )      —       8.88       10,070       7.24 (h)      1.30       1.33       0.38       15  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

55

Table of Contents

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 the Predecessor Fund.

 

(f) Rounds to less than $0.005 per share.

 

(g) IS Shares commenced operations on August 1, 2014.

 

(h) 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.

 

(i) Net investment income per share and the ratio of net investment income to average net assets include a non-recurring refund for overbilling of prior years’ custodian out-of-pocket fees which amounted to $0.01 per share and 0.07%, 0.09%, and 0.07% of average net assets for the I Shares, A Shares, and IS Shares, respectively.

 

(j) The amount shown for the net investment income ratio does not represent the actual pro rata amount allocated to the share class due to large redemptions during the year.

 

(k) IS Shares commenced operations on September 1, 2015.

 

(l) 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.

 

56

Table of Contents

NOTES TO FINANCIAL STATEMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

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 Capital Innovations Global Resources and Infrastructure Fund, Ceredex Large Cap Value Equity Fund, Ceredex Mid-Cap Value Equity Fund, Ceredex Small Cap Value Equity Fund, Innovative Growth Stock Fund, International Equity Fund, Silvant Large Cap Growth Stock Fund, Silvant Small Cap Growth Stock Fund, 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 Innovative 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, Ceredex Small Cap Value Equity Fund, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy offer I Shares, A Shares and C Shares. The Ceredex Large Cap Value Equity Fund, Ceredex Mid-Cap Value Equity Fund, Silvant Large Cap Growth Stock Fund and Silvant 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”), and 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 (“FASB”) Codification Topic 946 (“ASC 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 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

 

57

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

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 are classified as Level 1 prices, which includes 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 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. Equity securities for which market quotations are available are valued at the last reported sales price of 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. 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 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.

 

58

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

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.

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value as of March 31, 2017:

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		      Total  

Capital Innovations Global Resources and Infrastructure Fund

            

Assets

 

Common Stocks1

      $8,872,892        $—        $—        $8,872,892  

Money Market Funds

      465,844        —        —        465,844  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      9,338,736        —        —        9,338,736  
  

 

 

     

 

 

     

 

 

     

 

 

  

Ceredex Large Cap Value Equity Fund

            

Assets

 

Common Stocks1

      2,097,292,963        —        —        2,097,292,963  

Money Market Fund

      20,759,114        —        —        20,759,114  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      2,118,052,077        —        —        2,118,052,077  
  

 

 

     

 

 

     

 

 

     

 

 

  

Ceredex Mid-Cap Value Equity Fund

 

Assets

 

Common Stocks1

      3,279,090,432        —        —        3,279,090,432  

Money Market Funds

      207,602,392        —        —        207,602,392  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      3,486,692,824        —        —        3,486,692,824  
  

 

 

     

 

 

     

 

 

     

 

 

  

Ceredex Small Cap Value Equity Fund

 

Assets

 

Common Stocks1

      932,782,463        —        —        932,782,463  

Money Market Fund

      1,500,791        —        —        1,500,791  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      934,283,254        —        —        934,283,254  
  

 

 

     

 

 

     

 

 

     

 

 

  

Innovative Growth Stock Fund

 

Assets

 

Common Stocks1

      28,291,186        —        —        28,291,186  

Money Market Fund

      672,185        —        —        672,185  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      28,963,371        —        —        28,963,371  
  

 

 

     

 

 

     

 

 

     

 

 

  

International Equity Fund

 

Assets

 

Common Stocks1

     70,580,902        —        —        70,580,902  

Money Market Funds

      3,716,467        —        —        3,716,467  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      74,297,369        —        —        74,297,369  
  

 

 

     

 

 

     

 

 

     

 

 

  

Silvant Large Cap Growth Stock Fund

 

Assets

 

Common Stocks1

      208,829,160        —        —        208,829,160  

Money Market Fund

      5,329,074        —        —        5,329,074  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      214,158,234        —        —        214,158,234  
  

 

 

     

 

 

     

 

 

     

 

 

  

Silvant Small Cap Growth Stock Fund

 

Assets

 

Common Stocks1

      40,793,379        —        —        40,793,379  

Money Market Funds

      3,982,276        —        —        3,982,276  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      44,775,655        —        —        44,775,655  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

59

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		      Total  

Conservative Allocation Strategy2

 

Assets

 

Equity Funds

    $ 12,650,973      $ —      $ —      $ 12,650,973  

Fixed Income Funds

      18,805,515        —        —        18,805,515  

Exchange Traded Funds

      10,030,509        —        —        10,030,509  

Money Market Fund

      713,569        —        —        713,569  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      42,200,566        —        —        42,200,566  
  

 

 

     

 

 

     

 

 

     

 

 

  

Growth Allocation Strategy2

 

Assets

 

Equity Funds

      25,927,495        —        —        25,927,495  

Fixed Income Funds

      5,148,876        —        —        5,148,876  

Exchange Traded Funds

      8,427,596        —        —        8,427,596  

Money Market Fund

      743,657        —        —        743,657  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      40,247,624        —        —        40,247,624  
  

 

 

     

 

 

     

 

 

     

 

 

  

Moderate Allocation Strategy2

 

Assets

 

Equity Funds

      24,071,763        —        —        24,071,763  

Fixed Income Funds

      12,395,117        —        —        12,395,117  

Exchange Traded Funds

      13,409,834        —        —        13,409,834  

Money Market Fund

      1,169,898        —        —        1,169,898  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      51,046,612        —        —        51,046,612  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

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 period. As of March 31, 2017, there were no transfers between Level 1 and Level 2 pursuant to the Pricing and Valuation Procedures.

(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 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

 

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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 which is reflected on the Statements of Operations as a component of the caption “Net Income from Securities Lending”.

For Capital Innovations Global Resources and Infrastructure Fund, Ceredex Large Cap Value Equity Fund, Ceredex Mid-Cap Value Equity Fund, International Equity Fund, Silvant Large Cap Growth Stock Fund and Silvant 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, 2017.

(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, 2017, 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

 

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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, as amended (the “Code”), 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, 2017, 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, 2017, open tax years include the tax years of March 31, 2014 through 2017.

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 Company (“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 0.17% 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. As of March 31, 2017, the Funds had no 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		  

Ceredex Small Cap Value Equity Fund

      $1,959        $3,465,467        1.85 %      11  

Innovative Growth Stock Fund

      1,674        310,628        1.80       108  

International Equity Fund

      724        1,847,324        2.02       7  

Silvant Large Cap Growth Stock Fund

      177        584,257        1.82       6  

Silvant Small Cap Growth Stock Fund

      419        273,942        1.84       30  

Growth Allocation Strategy

      16        304,916        1.87       1  

(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

 

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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 Ceredex Large Cap Value Equity Fund, Ceredex Mid-Cap Value Equity Fund and Ceredex Small Cap Value Equity Fund; WCM Investment Management serves as the Subadviser for the International Equity Fund; Silvant Capital Management LLC serves as the Subadviser for the Silvant Large Cap Growth Stock Fund and Silvant Small Cap Growth Stock Fund; and Zevenbergen Capital Investments LLC serves as the Subadviser for the Innovative 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. Each of the other Subadvisers is a wholly-owned subsidiary 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 the 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, 2017 were as follows:

 

Fund

    Maximum Annual
Advisory Fee		     Discounted Annual
Advisory Fee		     Advisory Fees
Waived*		     Net Annual
Fees Paid**		  

Capital Innovations Global Resources and Infrastructure Fund

      1.00 %      1.00 %      (1.00 )%      — % 

Ceredex Large Cap Value Equity Fund

      0.70       0.65       —       0.65  

Ceredex Mid-Cap Value Equity Fund

      0.75       0.69       —       0.69  

Ceredex Small Cap Value Equity Fund

      0.85       0.83       —       0.83  

 

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Fund

    Maximum Annual
Advisory Fee		     Discounted Annual
Advisory Fee		     Advisory Fees
Waived		     Net Annual
Fees Paid*		  

Innovative Growth Stock Fund

      0.85 %       0.85 %       — %       0.85 %  

International Equity Fund

      0.85       0.85       (0.11 )      0.74  

Silvant Large Cap Growth Stock Fund

      0.70       0.70       —       0.70  

Silvant Small Cap Growth Stock Fund

      0.85       0.85       (0.02 )      0.83  

Conservative Allocation Strategy

      0.10       0.10       (0.04 )      0.06  

Growth Allocation Strategy

      0.10       0.10       —       0.10  

Moderate Allocation Strategy

      0.10       0.10       —       0.10  

 

* See additional information below related to contractual expense limitations.

 

** Aggregate annual fees paid to the Investment Adviser, who pays the applicable Subadviser a portion of the fees for its services to the Funds.

Amounts designated as “—” are 0%.

The Investment Adviser and the applicable Subadviser have contractually agreed, until at least August 1, 2017, 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, 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  

Fund

    I Shares     A Shares     C Shares     IS Shares  

Capital Innovations Global Resources and Infrastructure Fund

      1.15 %      1.40 %      2.15 %      N/A % 

Ceredex Large Cap Value Equity Fund*

      0.97       1.24       1.90       0.85  

Ceredex Mid-Cap Value Equity Fund*

      1.15       1.38       1.95       0.95  

Ceredex Small Cap Value Equity Fund

      1.30       1.55       2.15       N/A  

Innovative Growth Stock Fund

      1.30       1.50       N/A       N/A  

International Equity Fund*

      1.25       1.48       N/A       1.10  

Silvant Large Cap Growth Stock Fund*

      0.97       1.23       1.95       0.95  

Silvant Small Cap Growth Stock Fund*

      1.30       1.50       2.15       1.10  

Conservative Allocation Strategy

      0.30       0.60       1.30       N/A  

Growth Allocation Strategy

      0.50       0.70       1.30       N/A  

Moderate Allocation Strategy

      0.50       0.70       1.30       N/A  

 

* For the period ended July 31, 2016 the Contractual Expense Limitations were as follows:

 

Fund

    I Shares     A Shares     C Shares     IS Shares  

Ceredex Large Cap Value Equity Fund

      0.97 %      1.27 %      1.97 %      0.85 % 

Ceredex Mid-Cap Value Equity Fund

      1.15       1.40       1.95       0.95  

International Equity Fund

      1.25       1.50       N/A       1.10  

Silvant Large Cap Growth Stock Fund

      0.97       1.25       1.95       0.90  

Silvant Small Cap Growth Stock Fund

      1.30       1.50       2.20       1.05  

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, 2017, the Investment Adviser did

 

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not recapture any of its prior contractual waivers or reimbursements. As of March 31, 2017, the cumulative potential recoupments recoverable pursuant to this agreement are as follows:

 

     Expires  

Fund

    2018      2019      2020  

Capital Innovations Global Resources and Infrastructure Fund*

 

   

I Shares

      $N/A        $46,237        $44,767  

A Shares

      N/A        26,974        15,955  

C Shares

      N/A        4,936        2,657  

Ceredex Large Cap Value Equity Fund

         

I Shares

      2,390,881        2,067,589        1,790,007  

A Shares

      453,683        390,166        388,645  

Ceredex Mid-Cap Value Equity Fund

         

A Shares

      159,275        239,140        243,891  

Ceredex Small Cap Value Equity Fund

         

A Shares

      —        —        2,929  

Innovative Growth Stock Fund

         

I Shares

      10,874        17,391        23,041  

A Shares

      —        —        2,970  

International Equity Fund

         

I Shares

      23,969        64,243        48,268  

A Shares

      4,126        10,677        9,674  

IS Shares

      —        19,575        6,561  

Silvant Large Cap Growth Stock Fund

         

I Shares

      320,304        317,821        286,670  

A Shares

      9,682        5,664        5,804  

C Shares

      5,537        3,898        —  

IS Shares

      7,840        4,355        —  

Silvant Small Cap Growth Stock Fund

         

I Shares

      79,058        63,957        43,558  

A Shares

      —        —        1,246  

C Shares

      —        —        829  

IS Shares

      —        —        560  

Conservative Allocation Strategy

         

I Shares

      45,720        43,476        39,672  

A Shares

      11,261        9,950        11,887  

C Shares

      5,643        3,732        8,242  

Growth Allocation Strategy

         

I Shares

      100,956        92,695        76,506  

C Shares

      —        288        1,654  

Moderate Allocation Strategy

         

I Shares

      21,110        48,623        77,274  

A Shares

      —        —        1,240  

C Shares

      —        —        2,488  

 

* 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.

Amounts designated as “—” are $0.

Fund Accounting, Custody, Administration, and Transfer Agency — 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

 

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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. 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 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, 2017, the Distributor did not retain any of the front end sales charges assessed on the sale of A Shares. For the fiscal year ended March 31, 2017, the Distributor did not retain any commissions from contingent deferred sales charges assessed on the redemption of C Shares. These fees, expressed as a percentage of average daily net assets, for the fiscal year ended March 31, 2017, were as follows:

 

Fund

    A Shares
Distribution
and Service
Fee		     C Shares
Distribution
and Service
Fee		  

Capital Innovations Global Resources and Infrastructure Fund

      0.25 %      1.00 % 

Ceredex Large Cap Value Equity Fund

      0.30       1.00  

Ceredex Mid-Cap Value Equity Fund

      0.30       1.00  

Ceredex Small Cap Value Equity Fund

      0.30       1.00  

Innovative Growth Stock Fund

      0.30       N/A  

International Equity Fund

      0.30       N/A  

Silvant Large Cap Growth Stock Fund

      0.30       1.00  

Silvant Small Cap Growth Stock Fund

      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  

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 fiscal year ended March 31, 2017, the Investment Adviser was paid $404,235 for these services. Foreside Fund Officer Services, LLC (‘‘FFOS’’), an affiliate of the Distributor, provides an Anti-Money Laundering Officer/Identity Theft Prevention Officer (“AML Officer”) to the Trust. Effective October 2015 through November 2016, Foreside Management Services, LLC (“FMS”), an affiliate of the Distributor, provided Principal Financial Officer (“PFO”) support services to the Trust.

 

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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 ended 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 ended March 31, 2017 and March 31, 2016 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		  

Capital Innovations Global Resources and Infrastructure Fund*

 

              

I Shares

                        

3/31/2017

     502,373       —       6,228       (81,941 )      —       426,660       $5,686,313       $—       $68,970       $(860,899 )      $—       $4,894,384  

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 ) 

A Shares

                        

3/31/2017

     20,213       —       2,416       (38,446 )      —       (15,817 )      217,563       —       26,663       (419,044 )      —       (174,818 ) 

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 ) 

C Shares

                        

3/31/2017

     8,870       —       434       (8,058 )      —       1,246       96,555       —       4,692       (84,432 )      —       16,815  

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 ) 

Ceredex Large Cap Value Equity Fund

 

                  

I Shares

                        

3/31/2017

     14,988,265       —       1,747,398       (30,906,879 )      —       (14,171,216 )      240,164,941       —       28,989,334       (498,951,552 )      —       (229,797,277 ) 

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 ) 

A Shares

                        

3/31/2017

     2,363,238       —       364,044       (7,828,487 )      —       (5,101,205 )      37,561,361       —       5,995,801       (124,608,935 )      —       (81,051,773 ) 

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 ) 

C Shares

                        

3/31/2017

     47,311       —       13,812       (275,201 )      —       (214,078 )      737,892       —       222,644       (4,244,464 )      —       (3,283,928 ) 

3/31/2016

     168,986       —       104,345       (252,165 )      —       21,166       2,586,038       —       1,506,746       (3,803,478 )      —       289,306  

IS Shares

                        

3/31/2017

     3,915,176       —       398,431       (4,037,944 )      —       275,663       64,141,015       —       6,629,892       (64,662,063 )      —       6,108,844  

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  

 

67

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

    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		  

Ceredex Mid-Cap Value Equity Fund

 

                  

I Shares

                        

3/31/2017

     47,771,106       —       8,628,119       (88,992,626 )      —       (32,593,401 )    $ 642,136,104     $ —     $ 118,377,786     $ (1,177,162,609 )    $ —     $ (416,648,719 ) 

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 ) 

A Shares

                        

3/31/2017

     6,033,650       —       1,198,122       (14,007,426 )      —       (6,775,654 )      79,220,050       —       16,294,452       (183,470,633 )      —       (87,956,131 ) 

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 ) 

C Shares

                        

3/31/2017

     455,258       —       138,160       (1,991,762 )      —       (1,398,344 )      5,984,175       —       1,838,913       (25,263,426 )      —       (17,440,338 ) 

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 ) 

IS Shares

                        

3/31/2017

     10,499,421       —       826,515       (6,799,186 )      —       4,526,750       144,036,763       —       11,348,056       (91,035,873 )      —       64,348,946  

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  

Ceredex Small Cap Value Equity Fund

 

                  

I Shares

                        

3/31/2017

     16,018,969       —       3,186,214       (31,259,343 )      —       (12,054,160 )      199,169,013       —       40,942,846       (383,588,374 )      —       (143,476,515 ) 

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 ) 

A Shares

                        

3/31/2017

     1,682,266       —       502,520       (3,438,376 )      —       (1,253,590 )      20,261,513       —       6,261,402       (40,822,963 )      —       (14,300,048 ) 

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 ) 

C Shares

                        

3/31/2017

     35,448       —       117,673       (743,026 )      —       (589,905 )      392,457       —       1,336,770       (8,234,192 )      —       (6,504,965 ) 

3/31/2016

     125,149       —       824,781       (580,956 )      —       368,974       1,457,675       —       7,777,689       (6,562,360 )      —       2,673,004  

Innovative Growth Stock Fund

 

                  

I Shares

                        

3/31/2017

     736,308       —       100,983       (644,245 )      —       193,046       14,007,147       —       1,778,313       (12,797,826 )      —       2,987,634  

3/31/2016

     548,154       —       53,058       (780,401 )      —       (179,189 )      11,930,895       —       1,137,563       (16,749,913 )      —       (3,681,455 ) 

A Shares

                        

3/31/2017

     62,700       —       55,290       (216,865 )      —       (98,875 )      1,151,181       —       927,774       (4,098,918 )      —       (2,019,963 ) 

3/31/2016

     491,401       —       32,204       (588,841 )      —       (65,236 )      10,889,054       —       664,359       (11,980,061 )      —       (426,648 ) 

International Equity Fund

 

                  

I Shares

                        

3/31/2017

     4,013,629       —       40,074       (2,131,409 )      —       1,922,294       38,584,117       —       366,283       (20,316,050 )      —       18,634,350  

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  

A Shares

                        

3/31/2017

     1,537,897       —       15,277       (557,247 )      —       995,927       14,514,137       —       137,643       (5,135,110 )      —       9,516,670  

3/31/2016

     62,804       —       39,888       (92,288 )      —       10,404       607,480       —       368,947       (879,026 )      —       97,401  

IS Shares**

                        

3/31/2017

     265,447       —       7,042       (256,382 )      —       16,107       2,584,033       —       64,365       (2,454,663 )      —       193,735  

3/31/2016

     1,003,460       —       82,004       (458,797 )      —       626,667       9,776,110       —       765,921       (4,203,512 )      —       6,338,519  

Silvant Large Cap Growth Stock Fund

 

                  

I Shares

                        

3/31/2017

     974,017       —       1,339,865       (3,715,671 )      —       (1,401,789 )      9,013,948       —       11,295,064       (34,169,639 )      —       (13,860,627 ) 

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 ) 

A Shares

                        

3/31/2017

     605,401       —       1,101,478       (1,204,269 )      —       502,610       4,478,342       —       7,512,079       (9,073,048 )      —       2,917,373  

3/31/2016

     852,332       —       636,361       (1,077,242 )      —       411,451       7,111,443       —       5,249,983       (9,296,236 )      —       3,065,190  

C Shares

                        

3/31/2017

     54,733       —       1,726,887       (1,312,187 )      —       469,433       271,089       —       7,563,765       (6,659,683 )      —       1,175,171  

3/31/2016

     206,005       —       923,411       (1,092,958 )      —       36,458       1,295,039       —       5,318,850       (6,604,447 )      —       9,442  

IS Shares

                        

3/31/2017

     58,843       —       412,074       (1,705,823 )      —       (1,234,906 )      541,033       —       3,486,146       (15,622,312 )      —       (11,595,133 ) 

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 ) 

 

68

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

    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		  

Silvant Small Cap Growth Stock Fund

 

              

I Shares

                        

3/31/2017

     816,767       —       416,059       (2,502,597 )      —       (1,269,771 )    $ 7,443,252     $ —     $ 3,603,071     $ (22,802,170 )    $ —     $ (11,755,847 ) 

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 ) 

A Shares

                        

3/31/2017

     21,351       —       140,699       (161,539 )      —       511       158,769       —       991,925       (1,228,080 )      —       (77,386 ) 

3/31/2016

     21,550       —       375,807       (182,679 )      —       214,678       202,393       —       2,889,957       (2,025,759 )      —       1,066,591  

C Shares

                        

3/31/2017

     2,389       —       393,663       (194,024 )      —       202,028       8,917       —       1,287,279       (733,595 )      —       562,601  

3/31/2016

     33,324       —       659,605       (155,405 )      —       537,524       169,847       —       2,763,745       (1,031,867 )      —       1,901,725  

IS Shares

                        

3/31/2017

     75,254       —       50,307       (263,000 )      —       (137,439 )      704,760       —       439,680       (2,362,160 )      —       (1,217,720 ) 

3/31/2016

     139,519       —       159,913       (335,556 )      —       (36,124 )      1,172,382       —       1,477,592       (3,442,521 )      —       (792,547 ) 

Conservative Allocation Strategy

 

                      

I Shares

                        

3/31/2017

     678,866       —       42,720       (1,855,155 )      —       (1,133,569 )      8,294,920       —       511,354       (22,782,951 )      —       (13,976,677 ) 

3/31/2016

     852,015       —       89,107       (910,633 )      —       30,489       10,523,543       —       1,062,151       (11,175,084 )      —       410,610  

A Shares

                        

3/31/2017

     122,826       —       16,700       (692,615 )      —       (553,089 )      1,505,933       —       200,405       (8,524,344 )      —       (6,818,006 ) 

3/31/2016

     222,317       —       45,758       (317,990 )      —       (49,915 )      2,695,221       —       545,889       (3,912,015 )      —       (670,905 ) 

C Shares

                        

3/31/2017

     118,197       —       23,331       (418,311 )      —       (276,783 )      1,435,378       —       276,700       (5,056,213 )      —       (3,344,135 ) 

3/31/2016

     401,289       —       47,982       (279,667 )      —       169,604       4,921,132       —       566,671       (3,400,633 )      —       2,087,170  

Growth Allocation Strategy

 

                      

I Shares

                        

3/31/2017

     728,875       —       231,846       (1,604,058 )      —       (643,337 )      7,586,141       —       2,313,824       (16,525,742 )      —       (6,625,777 ) 

3/31/2016

     826,999       —       362,432       (2,067,210 )      —       (877,779 )      9,049,400       —       3,700,426       (22,159,053 )      —       (9,409,227 ) 

A Shares

                        

3/31/2017

     8,556       —       42,162       (209,452 )      —       (158,734 )      88,487       —       418,666       (2,148,089 )      —       (1,640,936 ) 

3/31/2016

     52,273       —       60,102       (163,704 )      —       (51,329 )      527,166       —       610,632       (1,773,011 )      —       (635,213 ) 

C Shares

                        

3/31/2017

     3,692       —       14,404       (85,042 )      —       (66,946 )      36,678       —       139,724       (862,894 )      —       (686,492 ) 

3/31/2016

     59,127       —       19,997       (99,143 )      —       (20,019 )      599,150       —       198,973       (990,457 )      —       (192,334 ) 

Moderate Allocation Strategy

 

                      

I Shares

                        

3/31/2017

     587,339       —       299,279       (2,638,171 )      —       (1,751,553 )      5,344,198       —       2,603,731       (24,157,013 )      —       (16,209,084 ) 

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 ) 

A Shares

                        

3/31/2017

     73,479       —       93,480       (283,363 )      —       (116,404 )      667,404       —       808,602       (2,604,083 )      —       (1,128,077 ) 

3/31/2016

     75,028       —       222,574       (535,529 )      —       (237,927 )      766,987       —       2,007,615       (5,698,032 )      —       (2,923,430 ) 

C Shares

                        

3/31/2017

     51,235       —       85,229       (265,103 )      —       (128,639 )      465,014       —       732,114       (2,396,260 )      —       (1,199,132 ) 

3/31/2016

     46,989       —       197,738       (219,034 )      —       25,693       476,260       —       1,771,729       (2,199,100 )      —       48,889  

 

* 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 September 1, 2015 for International Equity Fund.

 

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 ended March 31, 2017 were as follows:

 

Fund

    Purchases      Sales  

Capital Innovations Global Resources and Infrastructure Fund

      $7,392,481        $2,711,234  

Ceredex Large Cap Value Equity Fund

      1,583,146,567        1,816,582,245  

Ceredex Mid-Cap Value Equity Fund

      3,427,554,432        4,035,994,438  

Ceredex Small Cap Value Equity Fund

      269,889,936        462,946,218  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

Fund

    Purchases      Sales  

Innovative Growth Stock Fund

    $ 15,443,700      $ 18,025,755  

International Equity Fund

      49,940,191        20,932,514  

Silvant Large Cap Growth Stock Fund

      94,765,137        152,211,393  

Silvant Small Cap Growth Stock Fund

      26,032,126        45,110,039  

Conservative Allocation Strategy

      7,683,006        30,248,910  

Growth Allocation Strategy

      8,333,130        17,422,559  

Moderate Allocation Strategy

      8,847,170        27,393,670  

 

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, 2017 were as follows:

 

     Paid-in
Capital		     Accumulated
Net Realized
Gain (Loss)		     Undistributed
Investment
Income (Loss)		  

Capital Innovations Global Resources and Infrastructure Fund

      $(3,823 )      $(52,132 )      $55,955  

Ceredex Mid-Cap Value Equity Fund

      —       4,885,059       (4,885,059 ) 

Ceredex Small Cap Value Equity Fund

      —       124,546       (124,546 ) 

Innovative Growth Stock Fund

      (1,082,508 )      784,131       298,377  

International Equity Fund

      —       16,675       (16,675 ) 

Silvant Large Cap Growth Stock Fund

      (581,307 )      —       581,307  

Silvant Small Cap Growth Stock Fund

      (262,060 )      1,045       261,015  

Conservative Allocation Strategy

      —       (211,978 )      211,978  

Growth Allocation Strategy

      —       (114,743 )      114,743  

Moderate Allocation Strategy

      —       (180,336 )      180,336  

The cost of investments and aggregate gross unrealized appreciation and depreciation for securities held by the Funds as of March 31, 2017 were as follows:

 

Fund

    Tax Cost      Aggregate
Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net
Unrealized
Appreciation
(Depreciation)		  

Capital Innovations Global Resources and Infrastructure Fund

      $8,696,655        $842,093        $(200,012 )      $642,081  

Ceredex Large Cap Value Equity Fund

      1,671,671,940        450,559,971        (4,179,834 )      446,380,137  

Ceredex Mid-Cap Value Equity Fund

      3,067,515,333        445,671,655        (26,494,164 )      419,177,491  

Ceredex Small Cap Value Equity Fund

      734,492,586        231,776,476        (31,985,808 )      199,790,668  

Innovative Growth Stock Fund

      18,057,397        11,207,458        (301,484 )      10,905,974  

International Equity Fund

      67,426,463        7,313,153        (442,247 )      6,870,906  

Silvant Large Cap Growth Stock Fund

      133,970,674        82,949,382        (2,761,822 )      80,187,560  

Silvant Small Cap Growth Stock Fund

      37,611,944        8,708,592        (1,544,881 )      7,163,711  

Conservative Allocation Strategy

      40,065,847        2,176,077        (41,358 )      2,134,719  

Growth Allocation Strategy

      33,662,621        6,590,434        (5,431 )      6,585,003  

Moderate Allocation Strategy

      43,338,001        7,718,406        (9,795 )      7,708,611  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

The tax character of distributions paid to shareholders during the fiscal year ended March 31, 2017 was 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

      $100,427        $—        $—        $—        $100,427  

Ceredex Large Cap Value Equity Fund

      34,037,404        8,370,052        —        —        42,407,456  

Ceredex Mid-Cap Value Equity Fund

      115,777,045        38,652,586        —        —        154,429,631  

Ceredex Small Cap Value Equity Fund

      8,201,724        40,708,729        —        —        48,910,453  

Innovative Growth Stock Fund

      —        2,975,815        —        —        2,975,815  

International Equity Fund

      292,154        335,989        —        —        628,143  

Silvant Large Cap Growth Stock Fund

      —        31,266,169        —        —        31,266,169  

Silvant Small Cap Growth Stock Fund

      —        6,410,507        —        —        6,410,507  

Conservative Allocation Strategy

      925,161        161,230        —        —        1,086,391  

Growth Allocation Strategy

      518,240        2,369,699        —        —        2,887,939  

Moderate Allocation Strategy

      897,005        3,296,102        —        —        4,193,107  

 

* Total distributions paid are recognized on a when declared basis for the fiscal year ended March 31, 2017.
** 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, 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		  

Capital Innovations Global Resources and Infrastructure Fund

      $82,228        $—        $—        $—        $82,228  

Ceredex Large Cap Value Equity Fund

      30,971,375        172,233,852        —        —        203,205,227  

Ceredex Mid-Cap Value Equity Fund

      113,394,437        125,921,077        —        —        239,315,514  

Ceredex Small Cap Value Equity Fund

      15,453,362        246,896,505        —        —        262,349,867  

Innovative Growth Stock Fund

      —        2,095,754        —        —        2,095,754  

International Equity Fund

      144,980        2,000,010        —        —        2,144,990  

Silvant Large Cap Growth Stock Fund

      —        23,322,257        —        —        23,322,257  

Silvant Small Cap Growth Stock Fund

      —        21,567,281        —        —        21,567,281  

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 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 fiscal year ended November 30, 2015 was as follows:

 

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  

 

* Total distributions paid are recognized on a when declared basis for the fiscal year ended November 30, 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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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

As of March 31, 2017, 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  

Capital Innovations Global Resources and Infrastructure Fund

     $—       $25,954       $—       $642,078       $(720,328 )      $(52,296 ) 

Ceredex Large Cap Value Equity Fund

     —       8,367,620       139,490,710       446,380,138       —       594,238,468  

Ceredex Mid-Cap Value Equity Fund

     —       117,973,236       148,393,402       419,177,491       —       685,544,129  

Ceredex Small Cap Value Equity Fund

     —       —       61,961,885       199,790,667       —       261,752,552  

Innovative Growth Stock Fund

     —       —       1,124,887       10,905,977       (78,295 )      11,952,569  

International Equity Fund

     —       109,543       —       6,867,852       (1,771,389 )      5,206,006  

Silvant Large Cap Growth Stock Fund

     —       —       22,239,718       80,187,560       (128,809 )      102,298,469  

Silvant Small Cap Growth Stock Fund

     —       —       2,609,590       7,163,715       (66,580 )      9,706,725  

Conservative Allocation Strategy

     —       257,815       891,925       2,134,722       —       3,284,462  

Growth Allocation Strategy

     —       43,792       1,657,039       6,585,005       —       8,285,836  

Moderate Allocation Strategy

     —       93,112       2,186,927       7,708,614       —       9,988,653  

 

* 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, 2017, the post-enactment accumulated short-term and long-term capital loss carry forwards were as follows:

 

Fund

    Short Term      Long Term      Total  

Capital Innovations Global Resources and Infrastructure Fund

      $416,457        $303,871        $720,328  

International Equity Fund

      122,295        —        122,295  

As of March 31, 2017, the pre-enactment accumulated capital loss carryforwards and expiration dates were as follows:

 

Fund

    Expiring
2018		      Expiring
2019		      Expiring
2020		      Total  

Innovative Growth Stock Fund*

      $—        $—        $—        $—  

International Equity Fund**

      1,649,094        —        —        1,649,094  

Silvant Large Cap Growth Stock Fund***

      —        —        —        —  

 

* Of the $1,372,838 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, $593,723 of the 2017 layer was utilized, and the remaining $779,115 expired unused.

 

** Of the $1,649,094 of remaining capital loss carryforwards subject to limitations due to an ownership change on May 22, 2013 and expiring in 2018, nothing was utilized.

 

*** Of the remaining $1,639,874 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, the entire amount was utilized.

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.

 

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

During the fiscal year ended March 31, 2017, the following Funds utilized capital loss carry forwards as follows:

 

Fund

    Amount  

Capital Innovations Global Resources and Infrastructure Fund

      $107,786  

Innovative Growth Stock Fund

      593,723  

Silvant Large Cap Growth Stock Fund

      1,639,874  

During the fiscal year ended March 31, 2017, the following Fund had capital loss carryforwards that expired in fiscal 2017 as follows:

 

Fund

    Amount  

Innovative Growth Stock Fund

      $779,115  

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, 2017, 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, 2017.

During the fiscal year ended March 31, 2017, the following Funds had late year ordinary losses as follows:

 

Fund

    Amount  

Innovative Growth Stock Fund

      $78,295  

Silvant Large Cap Growth Stock Fund

      128,809  

Silvant Small Cap Growth Stock Fund

      66,580  

 

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, 2017 were as follows:

 

Underlying Funds

   Market Value
March 31,
2016		     Purchases
at Cost*		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Gain (Loss)		     Market
Value
March 31, 2017		     Share
Balance at
March 31,
2017		     Dividend
Income		     Realized
Gain
Distributions		  

Conservative Allocation Strategy

                  

RidgeWorth Capital Innovations Global Resources and Infrastructure Fund — I Shares

     $—       $177,030       $(30,920 )      $228       $5,305       $151,643       13,141       $2,030       $—  

RidgeWorth Ceredex Large Cap Value Equity Fund — IS Shares

     5,333,996       303,261       (2,508,800 )      288,716       488,897       3,906,070       227,361       86,607       18,155  

RidgeWorth Ceredex Mid-Cap Value Equity Fund — IS Shares

     2,053,609       102,947       (932,700 )      150,715       166,991       1,541,562       106,388       28,370       64,577  

RidgeWorth Ceredex Small Cap Value Equity Fund — I Shares

     508,059       190,474       (272,100 )      9,658       70,369       506,460       38,988       6,387       27,087  

RidgeWorth International Equity Fund — IS Shares

     1,242,262       569,990       (587,800 )      (40,700 )      146,144       1,329,896       130,382       6,879       6,610  

RidgeWorth Seix Core Bond Fund — IS Shares

     8,551       325       (500 )      (13 )      (195 )      8,168       773       170       155  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

Underlying Funds

   Market Value
March 31,
2016		     Purchases
at Cost*		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Gain (Loss)		     Market
Value
March 31, 2017		     Share
Balance at
March 31,
2017		     Dividend
Income		     Realized
Gain
Distributions		  

RidgeWorth Seix Corporate Bond Fund — I Shares

   $ 1,067,983     $ 53,660     $ (398,700 )    $ (10,283 )    $ 36,382     $ 749,042       86,594     $ 28,313     $ 7,438  

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     350,728       18,081       (204,820 )      1,577       14,384       179,950       20,542       14,032       —  

RidgeWorth Seix High Income Fund — IS Shares

     363,213       33,239       (143,330 )      (4,730 )      35,303       283,695       44,052       21,761       —  

RidgeWorth Seix High Yield Fund — I Shares

     359,242       7,119       (38,600 )      530       (328,291 )      —       —       7,364       —  

RidgeWorth Seix High Yield Fund — IS Shares**

     —       22,896       (102,180 )      3,743       348,630       273,089       32,627       11,605       —  

RidgeWorth Seix Total Return Bond Fund — IS Shares

     18,263,309       1,221,982       (3,559,500 )      (78,247 )      (305,123 )      15,542,421       1,491,595       404,745       268,776  

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund — I Shares

     2,655,483       8,141       (263,700 )      (1,769 )      (2,398,155 )      —       —       8,442       —  

RidgeWorth Seix U.S. Government Securities Ultra Short Bond Fund — IS Shares**

     —       51,077       (681,550 )      (5,081 )      2,404,704       1,769,150       176,210       15,838       —  

RidgeWorth Silvant Large Cap Growth Stock Fund — IS Shares

     7,803,743       716,960       (3,516,400 )      (425,141 )      171,817       4,750,979       531,429       —       716,960  

RidgeWorth Silvant Small Cap Growth Stock Fund — IS Shares

     478,779       223,449       (265,550 )      (56,966 )      84,651       464,363       51,368       —       70,450  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $40,488,957       $3,700,631       $(13,507,150 )      $(167,763 )      $941,813       $31,456,488       2,951,450       $642,543       $1,180,208  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Growth Allocation Strategy

                  

RidgeWorth Capital Innovations Global Resources and Infrastructure Fund — I Shares

     $—       $322,188       $(21,900 )      $(309 )      $7,935       $307,914       26,682       $3,297       $—  

 

74

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

Underlying Funds

   Market Value
March 31,
2016		     Purchases
at Cost*		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Gain (Loss)		     Market
Value
March 31, 2017		     Share
Balance at
March 31,
2017		     Dividend
Income		     Realized
Gain
Distributions		  

RidgeWorth Ceredex Large Cap Value Equity Fund — IS Shares

   $ 8,957,381     $ 384,257     $ (2,480,485 )    $ 526,587     $ 690,133     $ 8,077,873       470,190     $ 149,019     $ 31,238  

RidgeWorth Ceredex Mid-Cap Value Equity Fund — IS Shares

     3,466,626       202,507       (1,026,593 )      227,185       269,418       3,139,143       216,642       48,838       111,168  

RidgeWorth Ceredex Small Cap Value Equity Fund — I Shares

     856,181       312,633       (302,240 )      39,856       79,234       985,664       75,879       10,407       44,139  

RidgeWorth International Equity Fund — IS Shares

     2,099,109       974,148       (561,300 )      (70,228 )      268,812       2,710,541       265,739       11,839       11,376  

RidgeWorth Seix Core Bond Fund — IS Shares

     2,809       112       (— )      —       (76 )      2,845       269       59       54  

RidgeWorth Seix Corporate Bond Fund — I Shares

     286,705       35,594       (77,875 )      (2,518 )      8,801       250,707       28,983       7,910       2,208  

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     93,273       10,402       (48,010 )      6,423       (2,161 )      59,927       6,841       3,855       —  

RidgeWorth Seix High Income Fund — IS Shares

     97,783       17,589       (28,900 )      (1,219 )      9,380       94,633       14,695       6,074       —  

RidgeWorth Seix High Yield Fund — I Shares

     95,690       1,841       (8,025 )      83       (89,589 )      —       —       1,907       —  

RidgeWorth Seix High Yield Fund — IS Shares**

     —       16,460       (21,450 )      441       95,673       91,124       10,887       3,358       —  

RidgeWorth Seix Total Return Bond Fund — IS Shares

     4,898,755       176,524       (912,000 )      20,101       (125,663 )      4,057,717       389,416       106,587       70,315  

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund — I Shares

     711,041       2,114       (60,550 )      (403 )      (652,202 )      —       —       2,195       —  

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund — IS Shares**

     —       66,271       (126,900 )      (965 )      653,517       591,923       58,957       4,606       —  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

Underlying Funds

   Market Value
March 31,
2016		     Purchases
at Cost*		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Gain (Loss)		     Market
Value
March 31, 2017		     Share
Balance at
March 31,
2017		     Dividend
Income		     Realized
Gain
Distributions		  

RidgeWorth Silvant Large Cap Growth Stock Fund — IS Shares

   $ 13,123,312     $ 1,345,638     $ (4,232,550 )    $ (241,130 )    $ (199,143 )    $ 9,796,127       1,095,764     $ —     $ 1,231,638  

RidgeWorth Silvant Small Cap Growth Stock Fund — IS Shares

     805,071       361,671       (292,218 )      (15,846 )      51,555       910,233       100,689       —       116,671  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $35,493,736       $4,229,949       $(10,200,996 )      $488,058       $1,065,624       $31,076,371       2,761,633       $359,951       $1,618,807  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Moderate Allocation Strategy

                  

RidgeWorth Capital Innovations Global Resources and Infrastructure Fund — I Shares

     $—       $319,075       $(40,900 )      $(234 )      $8,490       $286,431       24,821       $3,275       $—  

RidgeWorth Ceredex Large Cap Value Equity Fund — IS Shares

     9,155,333       482,995       (3,421,500 )      930,024       340,503       7,487,355       435,818       151,283       31,713  

RidgeWorth Ceredex Mid-Cap Value Equity Fund — IS Shares

     3,529,675       184,434       (1,315,100 )      399,811       116,971       2,915,791       201,228       49,396       112,438  

RidgeWorth Ceredex Small Cap Value Equity Fund — I Shares

     873,622       310,316       (385,050 )      49,020       78,141       926,049       71,289       10,764       45,652  

RidgeWorth International Equity Fund — IS Shares

     2,138,257       935,493       (760,800 )      (50,634 )      253,538       2,515,854       246,652       11,981       11,512  

RidgeWorth Seix Core Bond — IS Shares

     7,647       223       (2,300 )      (87 )      (38 )      5,445       515       120       103  

RidgeWorth Seix Corporate Bond Fund — I Shares

     770,788       54,445       (236,425 )      (6,226 )      23,889       606,471       70,112       20,309       5,701  

RidgeWorth Seix Floating Rate High Income Fund — IS Shares

     254,453       16,688       (136,845 )      18,824       (7,480 )      145,640       16,626       9,924       —  

RidgeWorth Seix High Income Fund — IS Shares

     264,632       26,053       (82,700 )      (2,722 )      24,123       229,386       35,619       15,615       —  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

Underlying Funds

   Market Value
March 31,
2016		     Purchases
at Cost*		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Gain (Loss)		     Market
Value
March 31, 2017		     Share
Balance at
March 31,
2017		     Dividend
Income		     Realized
Gain
Distributions		  

RidgeWorth Seix High Yield Fund — I Shares

   $ 259,521     $ 4,923     $ (41,350 )    $ 632       $(223,726)     $ —       —     $ 5,093     $ —  

RidgeWorth Seix High Yield Fund — IS Shares**

     —       18,894       (38,170 )      1,028       239,349       221,101       26,416       8,514       —  

RidgeWorth Seix Total Return Bond Fund — IS Shares

     13,174,330       440,406       (3,624,000 )      240,260       (476,288)       9,754,708       936,152       265,413       171,134  

RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund — I Shares

     1,917,741       5,612       (301,800 )      (746 )      (1,620,807 )      —       —       5,819       —  

RidgeWorth Seix U.S. Government Securities Ultra Short Bond Fund — IS Shares**

     —       78,805       (268,150 )      (930 )      1,622,641       1,432,366       142,666       11,643       —  

RidgeWorth Silvant Large Cap Growth Stock Fund — IS Shares

     13,403,070       1,325,663       (5,204,500 )      (216,555 )      (218,491 )      9,089,187       1,016,688       —       1,250,663  

RidgeWorth Silvant Small Cap Growth Stock Fund — IS Shares

     823,866       354,030       (369,750 )      (11,641 )      54,591       851,096       94,148       —       119,530  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $46,572,935       $4,558,055       $(16,229,340 )      $1,349,824       $215,406       $36,466,880       3,318,750       $569,149       $1,748,446  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* Includes reinvestment of distributions.

 

** IS Shares commenced operations on August 1, 2016.

 

8. Reorganizations

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 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.

 

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NOTES TO FINANCIAL STATEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

 

The undistributed net investment income of the Predecessor Fund was $18,436 as of the date of the acquisition.

9. Subsequent Events

Management has evaluated subsequent events through the date the financial statements are issued. Management has determined, except as set forth below, that there are no material events that would require disclosure in the Funds’ financial statements through this date.

On December 16, 2016, Virtus Investment Partners, Inc. entered into an agreement to acquire all outstanding equity securities of the Investment Adviser from Lightyear Capital and a group of employees of the Investment Adviser. On December 14, 2016, the Board had approved, subject to shareholder approval, an agreement and plan of reorganization pursuant to which each Fund will be reorganized into a newly created series of Virtus Asset Trust (the “Plan”), and recommends that shareholders of each Fund approve the Plan. As a result, shareholders of each Fund (except the RidgeWorth Capital Innovations Global Resources and Infrastructure Fund) were asked at a special meeting of shareholders on May 9, 2017 to approve the Plan. Further, in accordance with the Plan, the RidgeWorth Moderate Allocation Strategy and the RidgeWorth Growth Allocation Strategy will reorganize into the same newly created series of Virtus Asset Trust called the Virtus Growth Allocation Strategy Fund. The special meeting of shareholders on May 9, 2017 was adjourned to May 30, 2017 with respect to certain Funds that had not yet reached quorum.

At a special meeting of shareholders scheduled for June 28, 2017, shareholders of the RidgeWorth Capital Innovations Global Resources and Infrastructure Fund will be asked to approve an agreement and plan of reorganization pursuant to which the Fund will be reorganized into the Oak Ridge Global Resources & Infrastructure Fund (the “Reorganization”), a newly created series of Investment Managers Series Trust. On April 17, 2017, the Board approved the Reorganization and recommends that shareholders of the Fund approve the Reorganization.

Effective April 1, 2017, each Fund’s A Shares Rule 12b-1 Plan distribution and service fee was reduced to a maximum of 0.25% annually, as a percentage of the value of your investment.

 

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

RIDGEWORTH FUNDS    March 31, 2017

 

To the Board of Trustees and Shareholders of RidgeWorth Funds:

In our opinion, the (i) 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 the Ceredex Large Cap Value Equity Fund, Ceredex Mid-Cap Value Equity Fund, Ceredex Small Cap Value Equity Fund, Innovative Growth Stock Fund (formerly known as the Aggressive Growth Stock Fund), International Equity Fund, Silvant Large Cap Growth Stock Fund, Silvant Small Cap Growth Stock Fund, Conservative Allocation Strategy, Growth Allocation Strategy, and Moderate Allocation Strategy as of March 31, 2017, 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 herein, and (ii) accompanying statement of assets and liabilities, including the schedule 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 the Capital Innovations Global Resources and Infrastructure Fund as of March 31, 2017, the results of its operations for the year then ended, the changes in its net assets for the year then ended and for the period December 1, 2015 through March 31, 2016, and each of its financial highlights for the year then ended and for the period December 1, 2015 through March 31, 2016, (eleven of the funds constituting RidgeWorth funds, hereinafter referred to as the “Funds”), 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 audit 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 as of March 31, 2017 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 financial statements of the Capital Innovations Global Resources and Infrastructure Fund as of and for the year ended November 30, 2015 and the financial highlights for each of the periods ended on or prior to November 30, 2015 (not presented herein, other than the statement of changes in net assets and the financial highlights) were audited by other auditors whose report, dated January 29, 2016 expressed an unqualified opinion on those financial statements and financial highlights.

As discussed in Note 9 to the financial statements, on December 14, 2016, the Board of Trustees approved a plan to reorganize the Moderate Allocation Strategy and the Growth Allocation Strategy into the newly created series of Virtus Asset Trust called the Virtus Growth Allocation Strategy. The reorganization is pursuant to approval by the Moderate Allocation Strategy and Growth Allocation Strategy shareholders’ at a special meeting of shareholders scheduled for May 30, 2017

PricewaterhouseCoopers LLP

Boston, Massachusetts

May 25, 2017

 

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OTHER FEDERAL TAX INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

The following Funds have designated long term capital gain distributions as follows:

 

Fund

    Amount  

Ceredex Large Cap Value Equity Fund

      $8,370,052  

Ceredex Mid-Cap Value Equity Fund

      38,652,586  

Ceredex Small Cap Value Equity Fund

      40,708,729  

Innovative Growth Stock Fund

      2,975,815  

International Equity Fund

      335,989  

Silvant Large Cap Growth Stock Fund

      31,266,169  

Silvant Small Cap Growth Stock Fund

      6,410,507  

Conservative Allocation Strategy

      161,230  

Growth Allocation Strategy

      2,369,699  

Moderate Allocation Strategy

      3,296,102  

For corporate shareholders, the following percentages of the total ordinary income distributions paid by the following Funds during the fiscal year ended March 31, 2017 qualify for the corporate dividends received deductions:

 

Fund

    Dividend Received
Deduction		  

Capital Innovations Global Resources and Infrastructure Fund

      17.45 % 

Ceredex Large Cap Value Equity Fund

      100.00  

Ceredex Mid-Cap Value Equity Fund

      28.08  

Ceredex Small Cap Value Equity Fund

      100.00  

Conservative Allocation Strategy

      12.89  

Growth Allocation Strategy

      39.73  

Moderate Allocation Strategy

      23.98  

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, 2017 the following funds elected to pass through foreign taxes as follows:

 

Fund

    Amount  

International Equity Fund

      $79,034  

Conservative Allocation Strategy

      10,673  

Growth Allocation Strategy

      17,240  

Moderate Allocation Strategy

      17,529  

For the fiscal year ended March 31, 2017, the following Funds paid qualified dividend income:

 

Fund

    Qualified Dividend
Income		  

Capital Innovations Global Resources and Infrastructure Fund

      17.45 % 

Ceredex Large Cap Value Equity Fund

      100.00  

Ceredex Mid-Cap Value Equity Fund

      30.36  

Ceredex Small Cap Value Equity Fund

      100.00  

International Equity Fund

      100.00  

Conservative Allocation Strategy

      18.83  

Growth Allocation Strategy

      55.82  

Moderate Allocation Strategy

      34.31  

 

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OTHER FEDERAL TAX INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

(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, 2017.

 

Fund

    Foreign
Source
Income		      Foreign
Tax
Expense		  

International Equity Fund

      $869,469        $79,034  

Conservative Allocation Strategy

      60,210        10,673  

Growth Allocation Strategy

      94,268        17,240  

Moderate Allocation Strategy

      96,176        17,529  

 

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS

 

RIDGEWORTH FUNDS    March 31, 2017

(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 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
(month/year of birth)

   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.     28     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).     28    

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).     28     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.     28     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.     28     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).     28     None

 

* Mr. Parikh is an “interested person” of the Trust, as defined in the 1940 Act, because he is an employee of the Adviser.

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Name, Address and
(month/year of birth)		   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

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(November 1972)

   President and Chief Executive Officer   One year; since 2007   Managing Director, Product Manager, RidgeWorth Investments (since 2004).

James L. Love

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(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

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(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).

Sean Nossaman

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(June 1982)

   Assistant Treasurer   One year; since 2016   Assistant Treasurer, RidgeWorth Investment (since 2016); Assistant Fund Controller, ALPS Fund Services, Inc. (2007) to (2016)**

James Bacik

State Street Bank and Trust Co.

1 Iron Street

Boston, MA 02110

(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 Summer Street

Boston, MA 02111

(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).

Rebecca Gilding

State Street Bank and Trust Company

100 Summer Street

Boston, MA 02111

(December 1979)

   Assistant Secretary   One year; since May 2016  

Vice President and Counsel, State Street Bank and Trust Company (since 2016); Assistant Vice President and Associate Counsel, Brown Brothers Harriman and Co. (2013-2016); Assistant Vice President Citi Fund Services, Inc.

(2005-2013).*

 

* 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.

 

** During the period indicated the Officer has held various positions at ALPS Fund Services, Inc. and has provided his most recent title.

 

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INVESTMENT ADVISORY AGREEMENT

 

RIDGEWORTH FUNDS    March 31, 2017

(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, WCM Investment Management, 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 most recent 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 13, 2016, and reviewed additional material from the Adviser and Subadvisers in preparation for its quarterly meeting held on November 14-15, 2016, 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 and over the years. 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, including all of the 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.

 

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INVESTMENT ADVISORY AGREEMENT  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

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.

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 Interim Advisory and Subadvisory Agreements

Following its consideration of the annual continuance of the existing advisory and subadvisory agreements discussed above, at a special meeting held on December 14, 2016, the Board of Trustees considered a proposed interim advisory agreement between the Adviser and the Trust and proposed interim subadvisory agreements between the Adviser and each Subadviser. The Board noted that the interim agreements are the same as the existing advisory and subadvisory agreements they are intended to replace, including the rate of compensation thereunder, except for differences reflecting the requirements of Rule 15a-4 under the 1940 Act, such as the date of execution, effectiveness, termination, and compensation conditions. In approving the interim advisory and subadvisory agreements, the Board noted its recent comprehensive review, described above, in connection with its consideration of the annual continuance of the existing advisory and subadvisory agreements.

Approval of Interim Advisory and Subadvisory Agreements and Short-Term Advisory Agreement

At a special meeting held on April 17, 2017, the Board considered, with respect to the Capital Innovations Global Resources and Infrastructure Fund (the “Fund”), the approval of an interim advisory agreement between the Adviser and the Trust, an interim subadvisory agreement between the Adviser and Capital Innovations, LLC, and a short-term advisory agreement between the Adviser and the Trust (collectively, the “Agreements”). The interim advisory and subadvisory agreements are the same as the existing agreements they are intended to replace, including the rate of compensation thereunder, except for differences reflecting the requirements of Rule 15a-4 under the 1940 Act, such as the date of execution, duration of the agreement, termination, and compensation conditions. The short-term advisory agreement is the same in all materials respects to the existing advisory agreement between the Trust and the Adviser except for the date of execution and the duration of the agreement.

In evaluating the Agreements, the Board discussed its initial consideration and approval, at a meeting held on November 16-17, 2015, of the existing advisory agreement between the Adviser and the Trust and the existing

 

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INVESTMENT ADVISORY AGREEMENT  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

subadvisory agreement between the Adviser and Capital Innovations, which went into effect on February 19, 2016. The Board also noted that it recently had conducted an in depth review of the Adviser and its advisory services at its November 2016 meeting when it considered the annual renewal of the Adviser’s investment advisory agreements for the other series of the Trust.

Prior to and at the November 2015 meeting, the Board had requested and reviewed materials from the Adviser and Capital Innovations 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 same meeting as a new series of the Trust. In determining whether to initially approve the agreements, the Board considered and discussed information and analysis provided by the Adviser and Capital Innovations. 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.

In considering whether to approve the Agreements, the Board considered, among other things, its initial evaluation of the existing advisory and subadvisory agreements during the November 2015 meeting. Certain factors considered by the Board at the November 2015 meeting, as well as the conclusions reached, 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 Capital Innovations, the Board reviewed the services to be provided and the qualifications and backgrounds of the portfolio managers proposed to be responsible for managing the Fund. The Board also reviewed information set forth in the Adviser’s and Capital Innovations’ Form ADVs, each of which provides information about the firm, its management, and its business activities and affiliations. The Board considered the professional experience and qualifications of senior management and key professional personnel. The Board also considered operational capabilities and resources and experience in managing investment portfolios. The Board noted that Capital Innovations served as subadviser to the Predecessor Fund and reviewed its record in that role. The Board also noted that the Adviser serves as investment adviser to each series of the Trust. 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 Capital Innovations.

Performance. In connection with the assessment of Capital Innovations’ ability to perform its duties under the subadvisory agreement, the Board considered the sufficiency of its resources and concluded that Capital Innovations had the financial resources necessary to perform its obligations under the agreement. The Board heard an overview of Capital Innovations’ investment philosophy, the proposed portfolio construction of the assets of the Fund, and the investment techniques to be employed. The Board also reviewed Capital Innovations’ investment performance with respect to the strategies proposed to be used in managing the Fund and the investment performance of Capital Innovations 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. 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 Capital Innovations.

Cost of Services. The Board considered the cost of the services to be provided by the Adviser and Capital Innovations, 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 Capital Innovations, noting that the Adviser would pay Capital Innovations 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 Capital Innovations’ 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 Capital Innovations were fair and reasonable.

 

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INVESTMENT ADVISORY AGREEMENT  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Economies of Scale. The Board considered the potential for economies of scale and noted that both the Adviser’s and Capital Innovations’ 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 Capital Innovations is fair and reasonable in light of the services that they will provide to the Fund; and (iii) approved the agreements for an initial term of two years.

 

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ADDITIONAL INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Shareholder Meeting Results

A Special Meeting of the shareholders (the “Meeting”) of each series of RidgeWorth Funds (the “Trust”) was held on May 9, 2017. The details of the voting with respect to the Proposal are shown below. The Proposal received the required number of affirmative votes for approval.

The May 9, 2017 Meeting was held to consider and act on the following proposal:

Proposal: To approve The Agreement and Plan of Reorganization by and among RidgeWorth Funds on behalf of the acquired Fund Virtus Asset Trust on behalf of the corresponding acquiring fund RidgeWorth Capital Management LLC and Virtus Investment Partners Inc.

 

     Number of Shares(1)  
     Affirmative      Objecting      Abstaining(2)      Uninstructed(2)  

Innovative Growth Stock Fund

      727,197        4,085        12,281        79,947  

International Equity Fund

      4,732,286        9,062        22,792        —  

Conservative Allocation Strategy

      1,306,703        15,983        46,187        491,036  

Growth Allocation Strategy

      2,291,153        —        8,168        —  

 

 

(1) Excludes fractional shares.

 

(2) Uninstructed shares (i.e., proxies from brokers or nominees indicating that such persons have not received instructions from the beneficial owner or other person entitled to vote shares on a particular matter with respect to which the brokers or nominees do not have discretionary power) were treated as shares that were present at the meeting for purposes of establishing a quorum, but had the effect of a vote against the Proposal. Uninstructed shares are sometimes referred to as broker non-votes. Abstentions were also treated in this manner.

 

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ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

(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, 2016 through March 31, 2017.

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
10/01/16		      Ending
Account Value
03/31/17		      Expenses Paid
During Period*
10/01/16-03/31/17		      Expense Ratio
During Period**
10/01/16-03/31/17		  

Capital Innovations Global Resources and Infrastructure Fund

      I Shares        $1,000.00        $1,114.10        $6.11        1.16 % 
     A Shares        1,000.00        1,113.40        7.32        1.39  
     C Shares        1,000.00        1,108.70        11.25        2.14  

Ceredex Large Cap Value Equity Fund

      I Shares        1,000.00        1,102.30        5.08        0.97  
     A Shares        1,000.00        1,101.60        6.50        1.24  
     C Shares        1,000.00        1,098.50        9.00        1.72  
     IS Shares        1,000.00        1,104.00        3.78        0.72  

Ceredex Mid-Cap Value Equity Fund

      I Shares        1,000.00        1,133.40        5.48        1.03  
     A Shares        1,000.00        1,131.60        7.33        1.38  
     C Shares        1,000.00        1,128.90        9.50        1.79  
     IS Shares        1,000.00        1,135.10        4.21        0.79  

Ceredex Small Cap Value Equity Fund

      I Shares        1,000.00        1,077.10        6.42        1.24  
     A Shares        1,000.00        1,074.80        8.02        1.55  
     C Shares        1,000.00        1,073.10        9.82        1.90  

Innovative Growth Stock Fund

      I Shares        1,000.00        1,091.50        6.78        1.30  
     A Shares        1,000.00        1,090.20        7.82        1.50  

International Equity Fund

      I Shares        1,000.00        1,033.20        5.73        1.13  
     A Shares        1,000.00        1,032.20        6.89        1.36  
     IS Shares        1,000.00        1,032.90        5.32        1.05  

Silvant Large Cap Growth Stock Fund

      I Shares        1,000.00        1,057.80        4.98        0.97  
     A Shares        1,000.00        1,055.30        6.30        1.23  
     C Shares        1,000.00        1,054.20        9.78        1.91  
     IS Shares        1,000.00        1,057.50        4.62        0.90  

Silvant Small Cap Growth Stock Fund

      I Shares        1,000.00        1,065.70        6.59        1.28  
     A Shares        1,000.00        1,064.60        7.26        1.41  
     C Shares        1,000.00        1,060.90        10.69        2.08  
     IS Shares        1,000.00        1,066.30        5.62        1.09  

Conservative Allocation Strategy

      I Shares        1,000.00        1,016.90        1.51        0.30  
     A Shares        1,000.00        1,014.80        3.01        0.60  
     C Shares        1,000.00        1,011.10        6.52        1.30  

Growth Allocation Strategy

      I Shares        1,000.00        1,053.20        2.56        0.50  
     A Shares        1,000.00        1,051.30        3.43        0.67  
     C Shares        1,000.00        1,048.80        6.64        1.30  

Moderate Allocation Strategy

      I Shares        1,000.00        1,034.00        2.54        0.50  
     A Shares        1,000.00        1,032.60        3.55        0.70  
     C Shares        1,000.00        1,028.60        6.57        1.30  

 

* 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.

 

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ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

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
10/01/16		      Ending
Account Value
03/31/17		      Expenses Paid
During Period*
10/01/16-03/31/17		      Expense Ratio
During Period**
10/01/16-03/31/17		  

Capital Innovations Global Resources and Infrastructure Fund

      I Shares        $1,000.00        $1,019.10        $5.84        1.16 % 
     A Shares        1,000.00        1,018.00        6.99        1.39  
     C Shares        1,000.00        1,014.30        10.75        2.14  

Ceredex Large Cap Value Equity Fund

      I Shares        1,000.00        1,020.10        4.89        0.97  
     A Shares        1,000.00        1,018.70        6.24        1.24  
     C Shares        1,000.00        1,016.40        8.65        1.72  
     IS Shares        1,000.00        1,021.34        3.63        0.72  

Ceredex Mid-Cap Value Equity Fund

      I Shares        1,000.00        1,019.80        5.19        1.03  
     A Shares        1,000.00        1,018.10        6.94        1.38  
     C Shares        1,000.00        1,016.00        9.00        1.79  
     IS Shares        1,000.00        1,020.99        3.98        0.79  

Ceredex Small Cap Value Equity Fund

      I Shares        1,000.00        1,018.70        6.24        1.24  
     A Shares        1,000.00        1,017.20        7.80        1.55  
     C Shares        1,000.00        1,015.50        9.55        1.90  

Innovative Growth Stock Fund

      I Shares        1,000.00        1,018.40        6.54        1.30  
     A Shares        1,000.00        1,017.50        7.54        1.50  

International Equity Fund

      I Shares        1,000.00        1,019.58        5.69        1.13  
     A Shares        1,000.00        1,018.47        6.84        1.36  
     IS Shares        1,000.00        1,020.04        5.29        1.05  

Silvant Large Cap Growth Stock Fund

      I Shares        1,000.00        1,020.10        4.89        0.97  
     A Shares        1,000.00        1,018.80        6.19        1.23  
     C Shares        1,000.00        1,015.40        9.60        1.91  
     IS Shares        1,000.00        1,020.44        4.53        0.90  

Silvant Small Cap Growth Stock Fund

      I Shares        1,000.00        1,018.50        6.44        1.28  
     A Shares        1,000.00        1,017.90        7.09        1.41  
     C Shares        1,000.00        1,014.60        10.45        2.08  
     IS Shares        1,000.00        1,019.50        5.49        1.09  

Conservative Allocation Strategy

      I Shares        1,000.00        1,023.40        1.51        0.30  
     A Shares        1,000.00        1,021.90        3.02        0.60  
     C Shares        1,000.00        1,018.40        6.54        1.30  

Growth Allocation Strategy

      I Shares        1,000.00        1,022.40        2.52        0.50  
     A Shares        1,000.00        1,021.60        3.38        0.67  
     C Shares        1,000.00        1,018.40        6.54        1.30  

Moderate Allocation Strategy

      I Shares        1,000.00        1,022.40        2.52        0.50  
     A Shares        1,000.00        1,021.40        3.53        0.70  
     C Shares        1,000.00        1,018.40        6.54        1.30  

 

* 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.

 

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ADDITIONAL INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

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-0317

 

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Table of Contents

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2017 ANNUAL REPORT

FIXED INCOME FUNDS

MARCH 31, 2017

 

LOGO

 

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

Table of Contents

TABLE OF CONTENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

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      117  
Statements of Operations      121  
Statements of Changes in Net Assets      125  
Financial Highlights      131  
Notes to Financial Statements      139  
Report of Independent Registered Public Accounting Firm      165  
Other Information   
Other Federal Tax Information      166  
Trustees and Officers of the RidgeWorth Funds      167  
Annual Approval of Advisory and Subadvisory Agreements      169  
Additional Information      171  

Table of Contents

LETTER TO SHAREHOLDERS

 

RIDGEWORTH FUNDS    March 31, 2017

 

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 are grateful you have placed your confidence in us. We aim to earn your trust through competitive investment performance and excellent client service, and strive to exceed your expectations in both areas.

We are pleased to announce our plans to be acquired by Virtus Investment Partners, Inc., which is expected to be finalized in the second quarter of this year. We believe the transaction will provide strength and continuity for our investors, who will continue to partner with the same investment teams they have come to know through their relationship with RidgeWorth. In addition, clients will benefit from a combined company that can deliver an enhanced level of support and more resources to our investors. We look forward to continuing to serve as your asset manager in the months and years to come.

The past year saw a transition from an environment of sluggish growth, and heightened geopolitical uncertainty to one characterized by diminishing downside risks, steadied earnings growth, and rising consumer and business confidence. In short, despite all of the headline volatility, the backdrop for investing improved.

The U.S. economy began this past year battling the negative effects of a strong U.S. dollar and weak oil prices, as well as geopolitical unrest and slowing growth in China. The U.K.’s vote to leave the European Union contributed to heightened volatility. However, on the positive side, moderate job growth continued and housing prices recovered, which helped strengthen consumer incomes and balance sheets, and led to a further rise in consumer durables. In addition, inflation pressures were muted and the Federal Reserve erred on the side of caution and delayed its latest expected interest rate increase.

As the year progressed, oil prices recovered and the value of the dollar edged lower providing a bit of a macro tailwind to the economy and corporate earnings, while moderate job gains continued to support consumer spending. With volatility fears subsiding following the U.K. Brexit vote, evidence of a stabilizing global economy and a return of modest economic momentum in Europe, investor confidence improved. While the U.S. presidential election was one of the more turbulent ones in recent memory, the Trump victory appeared to rekindle and re-energize both consumers and businesses alike amid hopes for the growth engendering effects of lower tax rates, increased infrastructure spending, and reduced regulatory burdens. This combination of moderating headwinds, improved economic momentum, and renewed optimism regarding more pro-cyclical and stimulative fiscal policies helped lift domestic and global equity markets. Indeed, the improvement was sufficient to help prod the Federal Reserve to raise the overnight federal funds rate in December and then again in March.

Looking ahead, we believe the underlying economic fundamentals remain steady. Corporate profits are moving higher and beating expectations. The economy is improving even though the pace of growth is well short of historic averages. With improved earnings momentum, we believe the market can continue to provide reasonable risk-adjusted returns, despite relatively extended valuations.

That said, we are not entirely sanguine about the future. There is a mix of both positive and negative possibilities that are likely to evolve slowly but generate daily headline risk and market volatility. Tax cuts and tax reform are a major potential positive that we believe may only partially be priced into the markets. Repatriation of offshore corporate profits could also likely boost stock repurchase levels and provide a further lift to stock prices. Cuts in personal tax rates would increase both after tax paychecks as well as confidence.

Downside risks are also evident. The Fed’s Federal Open Market Committee (FOMC) is likely to increase short-term interest rates in the coming year. This will increase the cost of credit. Elections in France, the U.K., and Germany could affect confidence and stability in Europe. Most recently, a spike in tensions related to North Korea have eclipsed the already challenging situation in the Middle East. All of these factors (and more) could tilt market momentum to the downside. So, while we are cautiously positive, we are also aware of the multiple risks facing global growth and the markets.

Despite that uncertainty, we continue to see opportunities in the both the equity and fixed income markets. We believe that RidgeWorth’s bottom-up approach to security selection is well-positioned to capitalize on those opportunities, and we wish to thank you again for the trust and confidence you have placed in us.

Sincerely,

 

LOGO

Ashi Parikh

Chief Executive Officer, Chief Investment Officer

RidgeWorth Investments

 

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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, 2017?

The Seix Core Bond Fund returned 1.15% (I Shares). That compared to a 0.44% return for the Fund’s benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Interest rates moved higher across the Treasury yield curve during the period, and spread levels for corporate and securitized assets tightened. In this environment, the Fund’s absolute returns benefited from higher income and price appreciation from tighter spreads.

Security selection in the Fund’s corporate sleeve was the primary driver of relative outperformance, particularly within the energy sector, metals/mining and banking. Security selection within residential mortgage-backed securities (RMBS), as well as asset allocation to commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS), also contributed positively to relative performance. However, an underweight position in government-related issues detracted from relative performance.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

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Table of Contents

SEIX CORE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix Core Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          1.00%          2.51%          2.00%          4.41%  
     with sales charge*            –3.78%          0.86%          1.02%          3.90%  

R Shares^

                 0.73%          2.27%          1.82%          4.06%  

I Shares

                 1.15%          2.69%          2.23%          4.68%  

IS Shares**

                 1.29%          2.76%          2.28%          4.71%  
Bloomberg Barclays U.S. Aggregate Bond Index            0.44%          2.68%          2.34%          4.27%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.65%  
R Shares                                                  0.88%  
I Shares                                                  0.48%  
IS Shares                                                  0.34%  

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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

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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, 2017?

The Seix Corporate Bond Fund returned 6.29% (I Shares). That compared to a 3.31% return for the Fund’s benchmark, the Bloomberg Barclays U.S. Corporate Investment Grade Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

The overall tone was positive for the corporate debt market during the fiscal year, as market participants looked past many of the global and macro uncertainties such as Brexit, U.S. Federal Reserve monetary policy and the U.S. elections. Interest rates moved higher across the Treasury yield curve during the period, and spread levels for corporate assets tightened. In this environment, the Fund’s absolute returns benefited from higher income and price appreciation from tighter spreads.

The Fund’s overweight position in the energy sector strongly contributed to relative performance, especially its position in oil field services, independents and refiners. An overweight position in metals/mining also boosted relative performance. Yield curve positioning detracted modestly from performance during the period. Underweight positions in transportation and home construction, as well as a modest cash position, also dragged on relative performance.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

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Table of Contents

SEIX CORPORATE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix Corporate Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          6.01%          3.92%          3.71%          4.95%  
     with sales charge*            1.02%          2.25%          2.71%          4.44%  

C Shares

    without CDSC          5.29%          3.20%          3.03%          4.24%  
     with CDSC*            4.29%          3.20%          3.03%          4.24%  

I Shares

                 6.29%          4.19%          4.02%          5.26%  
Bloomberg Barclays U.S. Corporate Invesment Grade Index            3.31%          3.65%          3.96%          5.44%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  1.11%  
C Shares                                                  1.80%  
I Shares                                                  0.83%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

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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, 2017?

The Seix Floating Rate High Income Fund returned 10.13% (I Shares). That compared to a 9.74% return for the Credit Suisse Leveraged Loan Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Positive technical conditions and a historically low default environment boosted the leveraged loan asset class overall. Security selection in the broadcasting and utilities sectors benefited results relative to the benchmark, as did an overweight allocation and positive security selection in the gaming/leisure sector.

The Fund’s relative performance was hurt by an overweight position in the cable/wireless sector and negative security selection in the telecom sector. The Fund’s minimal exposure to cash also dragged on relative results.

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

In response to a cooperative macroeconomic backdrop and steadily improving capital market conditions, loan default rate forecasts have been reduced from 2.0% to 1.5% for 2017. As we look beyond 2017, both economic and political uncertainty persist. However, lower expected default rate implies near-term market conditions would not cause default volumes to spike. We believe this to be a benign forecast—positive in the short-term and constructive in the long-term. As a result of these market conditions, we believe leveraged loans are an attractive asset class, and we expect security selection will continue to drive the Fund’s performance.

 

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Table of Contents

SEIX FLOATING RATE HIGH INCOME FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO

    

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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.

 

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 3/31/17  
Seix Floating Rate High Income Fund   Inception Date†      1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge   03/01/06        9.78%          3.18%          4.14%          3.83%  
     with sales charge*            7.08%          2.32%          3.61%          3.56%  

C Shares

    without CDSC   03/01/06        9.28%          2.57%          3.54%          3.22%  
     with CDSC*            8.28%          2.57%          3.54%          3.22%  

I Shares

        03/01/06        10.13%          3.49%          4.44%          4.14%  

IS Shares**

        02/02/15        10.37%          3.60%          4.52%          4.18%  
Credit Suisse Leveraged Loan Index        9.74%          3.72%          4.88%          4.24%  
                                                      
Prospectus Expense Ratio1                                         Gross  
A Shares                                             0.92%  
C Shares                                             1.51%  
I Shares                                             0.62%  
IS Shares                                             0.51%  

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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

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* Less than 0.05% of Net Assets.

 

 

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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, 2017?

The Seix Georgia Tax-Exempt Bond Fund (I Shares) posted a total return of –0.47%. That compared to 12-month returns of –0.27% and 0.15% for the Lipper Other States Municipal Debt Objective* and the Bloomberg Barclays Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Municipal bond (muni) prices declined over the 12-month period as yields rose moderately on five-, 10- and 30-year AAA-rated munis. Credit spreads tightened and total returns generally were higher for lower-quality bonds. Bonds issued by transportation, leasing and health care entities led performance among the larger sectors in the Fund’s benchmark.

The Fund’s relative performance was hurt by its choice of sectors and securities among munis with maturities of 17 years or longer. For instance, an overweight position in the poor-performing special tax sector and select holdings in the electric sector dragged on relative returns. The Fund’s below-benchmark exposure to the top-performing transportation and leasing sectors also detracted.

The Fund’s underweight exposure to the lagging state general obligation sector added to relative results, however, as did the choice of securities in the eight- to 17-year portion of the yield curve.

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

Munis remain attractive based on strong technical factors and healthy fundamentals. The opportunity to capture tax-exempt income and yields that are attractive relative to other fixed-income investments also are constructive for muni bonds in the current environment. Even so, discussion of changes in fiscal policy could lead to increased volatility in muni markets, underscoring the value of a cautious approach.

We feel the Fund’s current yield curve position and its sector allocations are appropriate given our forecasts for the economy and for financial markets. We will continue to invest tactically and focus on securities with relatively high credit quality.

 

* Lipper Other States Municipal Debt Funds: Funds that limit assets to those securities exempt from taxation in a specified state (double tax-exempt) or city (triple tax-exempt).

 

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Table of Contents

SEIX GEORGIA TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix Georgia Tax-Exempt Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –0.66%          3.16%          2.83%          3.53%  
     with sales charge*            –5.40%          1.51%          1.83%          3.03%  

I Shares

                 –0.47%          3.30%          2.97%          3.67%  
Bloomberg Barclays U.S. Municipal Bond Index            0.15%          3.55%          3.24%          4.33%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.75%  
I Shares                                                  0.68%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix High Grade Municipal Bond Fund (I Shares) posted a total return of 0.33%. That compared to 12-month returns of –0.06% and 0.15% for the Lipper General & Insured Municipal Debt Objective* and the Bloomberg Barclays Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Municipal bond (muni) prices declined over the 12-month period as yields rose modestly on five-, 10- and 30-year AAA-rated munis. Credit spreads tightened through September 2016, but then reversed course following the U.S. Presidential election in November. By the end of the period under review credit spreads were only modestly tighter than they were at the beginning of the period. Bonds issued by entities in the transportation, leasing, health care, and industrial development and pollution control sectors led performance among the larger sectors in the Fund’s benchmark. State general obligation bonds posted a negative return in the Index.

The Fund’s underweight exposure to bonds with maturities in the seven- to 10-year portion of the yield curve added to relative results, as did above-benchmark exposure to bonds with maturities of 20 years or longer, which outperformed. Refunding events by a number of bonds in the portfolio also benefited the Fund on a relative basis. The Fund’s allocation to higher quality bonds and its defensive, underweight position in longer duration bonds helped it weather the sharp decline in prices during the fourth quarter of 2016.

The Fund’s choice of lower-coupon lease bonds in the 20-year maturity range dragged on relative results, as those securities underperformed. An above-benchmark exposure to California general obligation bonds also detracted.

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

Munis remain attractive based on strong technical factors and healthy fundamentals. The opportunity to capture tax-exempt income and yields that are attractive relative to other fixed-income investments also are constructive for muni bonds in the current environment. Even so, discussion of changes in fiscal policy could lead to increased volatility in muni markets, underscoring the value of a cautious approach.

We feel the Fund’s current yield curve position and its sector allocations are appropriate given our forecasts for the economy and for financial markets. We will continue to invest tactically and focus on securities with relatively high credit quality.

 

* Lipper General and Insured Municipal Debt Funds: Funds that either invest primarily in municipal debt issues rated in the top four credit ratings or invest primarily in municipal debt issues insured as to timely payment.

 

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Table of Contents

SEIX HIGH GRADE MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix High Grade Municipal Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          0.27%          3.77%          3.87%          4.69%  
     with sales charge*            –4.52%          2.11%          2.86%          4.18%  

I Shares

                 0.33%          3.90%          4.03%          4.85%  
Bloomberg Barclays U.S. Municipal Bond Index            0.15%          3.55%          3.24%          4.33%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.80%  
I Shares                                                  0.70%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix High Income Fund returned 15.95%. That compared to a 16.39% return for the Fund’s benchmark, the Bloomberg Barclays U.S. Corporate High Yield Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

The high-yield bond market benefited from a robust recovery in the commodity-related sectors during the fiscal year. Oil prices essentially doubled from a low point in the first quarter of 2016, and many domestic producers were able to profit in this new price environment. Prices for gas, coal and other commodities followed suit, which increased overall optimism. As a result, the return of the Bloomberg Barclays High Yield Energy Index rose 36.6% during the 12 months ended March 31, 2017, while the Metals and Mining Index was up 33.0%.

In this environment, the Fund’s underweight position in the metals and mining sector and an overweight position in healthcare detracted from relative performance. A modest allocation to cash in a strongly recovering market, as well as unfavorable security selection in health care, transportation and utilities, also hurt relative performance. However, an overweight position in the energy sector and an underweight position among food producers boosted returns relative to the benchmark. Favorable security selection in the energy, telecommunications, chemicals, metals and mining, paper, and cable sectors also contributed to relative performance.

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

Given the relative stability of the market, we are looking for opportunities in more volatile sectors. For example, we have added to exposure in the energy services sector. In our opinion, there are opportunities to invest in deeply discounted bonds at attractive yields from energy services companies that would be high-quality issuers in a normalized energy environment. Also, uncertainty surrounding healthcare and retail has dropped the price of certain bonds to attractive levels.

We expect fundamentals to remain stable in the high-yield market. For example, given the forecast of a relatively healthy economy along with financial strength among issuers, JPMorgan Chase lowered its default rate projection from 2.50% to 2.0% for 2017. Technicals continue to be neutral, with the flow of money into high-yield bonds dependent on the absolute level of yields. Valuations improved toward the end of the fiscal year, but spreads remain below historic averages.

 

12

Table of Contents

SEIX HIGH INCOME FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix High Income Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          15.69%          3.04%          5.82%          6.75%  
     with sales charge*            10.11%          1.39%          4.81%          6.23%  

R Shares^

                 15.47%          2.84%          5.63%          6.39%  

I Shares

                 15.95%          3.33%          6.10%          7.05%  

IS Shares**

                 15.96%          3.42%          6.15%          7.08%  
Bloomberg Barclays U.S. Corporate High Yield Bond Index            16.39%          4.56%          6.82%          7.46%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  1.03%  
R Shares                                                  1.23%  
I Shares                                                  0.79%  
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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix High Yield Fund (I Shares) returned 13.48%. That compared to a 13.76% 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, 2017?

The robust recovery in the commodity-related sectors boosted the returns of high yield issues. Oil prices nearly doubled from their 2016 low, and the outlook for gas, coal and other commodities was positive. As a result, the default expectations for the overall market were revised downward.

The Fund’s relative returns benefited from an overweight position in the energy sector and an underweight allocation in the retail sector benefited the Fund’s relative return, as did security selection in the chemicals, metals and mining, paper, healthcare, energy, and finance sectors.

Despite positive security selection, an underweight allocation to the mining and metals and telecommunications sectors, as well as overweight allocations to the healthcare and finance sectors hurt the Fund’s relative results. A modest allocation to cash and unfavorable security selection in the telecommunications and transportation sector also dragged on performance.

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

Fundamentals are expected to remain stable in the high yield asset class. Given a relatively healthy economy along with financial strength among many high yield issuers, default rate projections are down for 2017. Additionally, technicals continue to be neutral and dependent on the absolute level of yields. Valuations are more attractive now than at the end of February 2017, but spreads remain below historical averages.

Given the relative stability of the market in the first quarter of 2017, we are looking to more volatile sectors to identify potential opportunities to generate returns. We see opportunities to invest in deeply discounted bonds at attractive yields issued by energy services companies. These companies would be high-quality issuers in a normalized energy environment, and we have added to the Fund’s exposure in the energy services sector. Additionally, uncertainty surrounding healthcare and retail has caused the price of certain bonds in those sectors to drop to levels that we find attractive.

 

14

Table of Contents

SEIX HIGH YIELD FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
Seix High Yield Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          13.20%          2.74%          5.37%          5.64%  
     with sales charge*            7.81%          1.11%          4.35%          5.13%  

R Shares^

                 12.90%          2.53%          5.13%          5.17%  

I Shares**

                 13.48%          2.97%          5.61%          5.83%  

IS Shares**

                 13.56%          3.00%          5.62%          5.84%  
Bank of America Merrill Lynch BB-B U.S. High Yield Constrained Index            13.76%          4.66%          6.61%          6.92%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.84%  
R Shares                                                  1.04%  
I Shares                                                  0.61%  
IS Shares                                                  0.54%  

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 8/1/16. 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

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, 2017?

The Seix Investment Grade Tax-Exempt Bond Fund (I Shares) posted a total return of –0.24%. That compared to 12-month returns of –0.25% and 0.10% for the Lipper Intermediate Municipal Debt Objective* and the Bloomberg 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, 2017?

Municipal bond (muni) prices declined over the 12-month period as yields rose modestly on five-, 10- and 30-year AAA-rated munis. Credit spreads tightened through September 2016, but then reversed course following the U.S. Presidential election in November. By the end of the period under review credit spreads were only modestly tighter than they were at the beginning of the period. Holdings of bonds issued by transportation, leasing, health care, and industrial development and pollution control entities led performance among the larger sectors in the Fund’s benchmark. State general obligation bonds posted a negative return in the Index.

The Fund’s choice of securities within the 10-year sector of the yield curve reduced relative results, as did an overweight position in California general obligation bonds. A below-benchmark exposure to the strong-performing transportation sector also weighed on relative returns.

Above-benchmark exposure to longer maturities, most notably to securities with maturities of 20 years and longer, added to relative results as those outperformed the 10-year bond sector for the period under review. An overweight position in the special tax and water/sewer sectors also enhanced relative performance, as did security selection in the education sector. Refunding events by a number of bonds held in the portfolio added to relative results as well. The Fund’s allocation to relatively high-quality bonds and its defensive, underweight position in relatively long-duration bonds helped it weather the sharp decline in prices during the fourth quarter of 2016.

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

Munis remain attractive based on strong technical factors and healthy fundamentals. The opportunity to capture tax-exempt income and yields that are attractive relative to other fixed-income investments also are constructive for muni bonds in the current environment. Even so, discussion of changes in fiscal policy could lead to increased volatility in muni markets, underscoring the value of a cautious approach.

We feel the Fund’s current yield curve position and its sector allocations are appropriate given our forecasts for the economy and for financial markets. We will continue to invest tactically and focus on securities with relatively high credit quality.

 

* Lipper Intermediate Municipal Debt Funds: Funds that invest in municipal debt issues with dollar-weighted average maturities of five to ten years.

 

16

Table of Contents

SEIX INVESTMENT GRADE TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix Investment Grade Tax-Exempt Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –0.48%          2.47%          2.47%          4.03%  
     with sales charge*            –5.20%          0.81%          1.48%          3.53%  

I Shares

                 –0.24%          2.63%          2.64%          4.27%  
Bloomberg Barclays U.S. Municipal Bond 1-15 Year Blend Index            0.10%          2.79%          2.68%          4.07%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.94%  
I Shares                                                  0.69%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

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, 2017?

The Seix Limited Duration Fund returned 0.86%. That compared to a 0.36% return for the Fund’s benchmark, the BofA Merrill Lynch 3-Month U.S. Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

The U.S. Federal Reserve raised the federal funds rate by 25 basis points in both December and March. The Fund primarily held high-quality mortgage- and asset-backed securities, which offered higher yields than Treasury bills of comparable duration. The income from such issues benefited the Fund’s absolute return for the period, and helped the Fund outperform its Treasury-only benchmark index.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

18

Table of Contents

SEIX LIMITED DURATION FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 3/31/17  
Seix Limited Duration Fund                  1 Year        3 Year        5 Year        10 Year  

I Shares

                  0.86%          0.43%          0.52%          0.97%  
Bank of America Merrill Lynch 3 Month U.S. Treasury Bill Index        0.36%          0.17%          0.14%          0.69%  
                                                       
Prospectus Expense Ratio1                                                Gross  
I Shares                                                   0.47%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

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, 2017?

The Seix North Carolina Tax-Exempt Bond Fund (I Shares) posted a total return of –0.53%. That compared to 12-month returns of –0.27% and 0.15% for the Lipper Other States Municipal Debt Objective* and the Bloomberg Barclays Municipal Bond Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Municipal bond (muni) prices declined over the 12-month period as yields rose moderately on five-, 10- and 30-year AAA-rated munis. Credit spreads tightened and total returns generally were higher for lower-quality bonds. Bonds issued by transportation, leasing and health care entities led performance among the larger sectors in the Fund’s benchmark.

The Fund’s sector and security selection among bonds with maturities of 17 years or longer dragged on relative results. Overweight positions and holdings in the electric and leasing sectors weighed on performance relative to the benchmark, as longer maturity bonds in these sectors underperformed.

An underweight exposure to the lagging state general obligation sector added to relative performance, as did the Fund’s security selection among bonds with maturities between 12 and 17 years.

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

Munis remain attractive based on strong technical factors and healthy fundamentals. The opportunity to capture tax-exempt income and yields that are attractive relative to other fixed-income investments also are constructive for muni bonds in the current environment. Even so, discussion of changes in fiscal policy could lead to increased volatility in muni markets, underscoring the value of a cautious approach.

We feel the Fund’s current yield curve position and its sector allocations are appropriate given our forecasts for the economy and for financial markets. We will continue to invest tactically and focus on securities with relatively high credit quality.

 

* Lipper Other States Municipal Debt Funds: Funds that limit assets to those securities exempt from taxation in a specified state (double tax-exempt) or city (triple tax-exempt).

 

20

Table of Contents

SEIX NORTH CAROLINA TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix North Carolina Tax-Exempt Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –0.59%          3.03%          2.64%          3.49%  
     with sales charge*            –5.28%          1.37%          1.65%          2.99%  

I Shares

                 –0.53%          3.18%          2.79%          3.65%  
Bloomberg Barclays U.S. Municipal Bond Index            0.15%          3.55%          3.24%          4.33%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.81%  
I Shares                                                  0.73%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix Short-Term Bond Fund returned 0.23% (I Shares). That compared to a 0.71% return for the Fund’s benchmark, the Bloomberg Barclays 1-3 Year Government/Credit Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Interest rates moved higher across the short-term Treasury yield curve, while spread levels for short duration corporate and securitized assets tightened. In this environment, the Fund’s absolute returns were driven by higher income and price appreciation from tighter spreads.

Security selection among corporate assets was the primary detractor from relative performance, as the Fund remained essentially neutral versus the benchmark for most of the year. The Fund’s holdings among higher quality issuers also detracted from performance, as lower quality securities outperformed. However, the Fund’s relative performance benefitted from asset allocation to securitized assets.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

22

Table of Contents

SEIX SHORT-TERM BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg Barclays 1-3 Year Government/Credit Index. The Bloomberg Barclays 1-3 Year Government/Credit Index (Barclay’s Index) is the 1-3 year component of the U.S. Government/Credit Index. The Bloomberg Barclays Index includes securities in the Bloomberg 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 3/31/17  
Seix Short-Term Bond Fund               1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge        0.03%          0.41%          0.64%          2.04%  
     with sales charge*          –2.50%          –0.45%          0.12%          1.78%  

C Shares

    without CDSC        –0.47%          –0.06%          0.05%          1.33%  
     with CDSC*          –1.46%          –0.06%          0.05%          1.33%  

I Shares

               0.23%          0.61%          0.85%          2.26%  
Bloomberg Barclays 1-3 Year Government/Credit Index          0.71%          0.96%          0.93%          2.34%  
                                                    
Prospectus Expense Ratio1                                             Gross  
A Shares                                                0.81%  
C Shares                                                1.58%  
I Shares                                                0.68%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.80%, 1.58% 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix Short-Term Municipal Bond Fund (I Shares) posted a total return of 0.40%. That compared to 12-month returns of 0.25% and 0.57% for the Lipper Short Municipal Debt Objective* and the Bloomberg Barclays Municipal Bond 1-5 Year Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Municipal bond (muni) prices declined over the 12-month period as yields rose modestly on five-, 10- and 30-year AAA-rated munis. Credit spreads tightened through September 2016, but then reversed course following the U.S. Presidential election in November. By the end of the period under review credit spreads were only modestly tighter than they were at the beginning of the period. Bonds issued by entities in the transportation, industrial development and pollution control, leasing and health care sectors led performance among the larger sectors in the Fund’s benchmark. State general obligation bonds posted a negative return in the Index.

An underweight position in the three- and five-year area of the yield curve dragged on the Fund’s relative returns, as did underweight positions in the strong-performing electric and education sectors. The Fund’s holdings of A-rated transportation and lease bonds also detracted from results, as those securities underperformed.

The Fund’s above-benchmark exposure to AAA-rated securities added to relative results. An overweight position in bonds with maturities of one year or less also added, as did overweight positions in the transportation, water/sewer and special tax sectors, which all outperformed.

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

Munis remain attractive based on strong technical factors and healthy fundamentals. The opportunity to capture tax-exempt income and yields that are attractive relative to other fixed-income investments also are constructive for muni bonds in the current environment. Even so, discussion of changes in fiscal policy could lead to increased volatility in muni markets, underscoring the value of a cautious approach.

We feel the Fund’s current yield curve position and its sector allocations are appropriate given our forecasts for the economy and for financial markets. We will continue to invest tactically and focus on securities with relatively high credit quality.

 

* Short Municipal Debt Funds: Funds that invest in municipal debt issues with dollar-weighted average maturities of less than three years.

 

24

Table of Contents

SEIX SHORT-TERM MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg Barclays Municipal Bond 1-5 Year 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 3/31/17  
Seix Short-Term Municipal Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares*

    without sales charge          0.26%          0.52%          0.93%          2.85%  
     with sales charge**            –2.28%          –0.34%          0.41%          2.59%  

I Shares

                 0.40%          0.67%          1.07%          2.96%  
Bloomberg Barclays Municipal Bond 1-5 Year Index            0.57%          1.14%          1.21%          2.67%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.73%  
I Shares                                                  0.63%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix Total Return Bond Fund returned 1.53% (I Shares). That compared to a 0.44% return for the Fund’s benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Interest rates moved higher across the Treasury yield curve during the period, and spread levels for corporate and securitized assets tightened. In this environment, the Fund’s absolute returns benefited from higher income and price appreciation from tighter spreads.

Security selection within the energy, metals and mining, and banking sectors were the primary drivers of relative performance. Security selection within residential mortgage-backed securities (RMBS), as well the Fund’s allocation to commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS), also contributed positively to relative performance. The Fund’s relative performance also benefited from global investments, including exposure to emerging markets and to foreign currencies.

By contrast, the Fund’s use of high-yield credit default swaps to position against the continuation of high-yield outperformance detracted from relative returns. An underweight position in government-related issues also hurt relative performance.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

26

Table of Contents

SEIX TOTAL RETURN BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix Total Return Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          1.22%          2.49%          2.09%          4.49%  
     with sales charge*            –3.59%          0.83%          1.11%          3.99%  

R Shares

                 0.83%          2.11%          1.74%          4.13%  

I Shares

                 1.53%          2.73%          2.37%          4.81%  

IS Shares**

                 1.58%          2.86%          2.45%          4.85%  
Bloomberg Barclays U.S. Aggregate Bond Index            0.44%          2.68%          2.34%          4.27%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.71%  
R Shares                                                  1.06%  
I Shares                                                  0.45%  
IS Shares                                                  0.31%  

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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

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, 2017?

The Seix U.S. Government Securities Ultra-Short Bond Fund (I Shares) returned 0.98%. That compared to a 0.45% return for the Fund’s benchmark, the Bloomberg Barclays 3-6 Month Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Over the 12-month period, rising interest rates, coupon income and spread tightening were the largest contributors to the Fund’s absolute return. Interest rates rose across the short-term Treasury yield curve, and tighter spread levels for short duration agency securitized assets offset the negative impact of those rising rates. The Fund’s exposure to higher yielding sectors generated additional coupon income.

An overweight position in higher yielding agency securitized assets boosted results relative to the Fund’s benchmark. There were no meaningful detractors from the Fund’s performance during the period.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

28

Table of Contents

SEIX U.S. GOVERNMENT SECURITIES ULTRA-SHORT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg Barclays 3-6 Month U.S. Treasury Bill Index (“Index”). The Index is the 3-6 month component of the Bloomberg 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 3/31/17  
Seix U.S. Government Securities Ultra-Short Bond Fund                  1 Year        3 Year        5 Year        10 Year  

I Shares

                  0.98%          0.54%          0.57%          1.94%  

IS Shares*

                  1.19%          0.61%          0.61%          1.96%  
Bloomberg Barclays 3-6 Month U.S. Treasury Bill Index                  0.45%          0.26%          0.21%          0.87%  
                                                       
Prospectus Expense Ratio1                                                Gross  
I Shares                                                   0.41%  
IS Shares                                                   0.26%  

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.

 

* IS Shares were offered beginning on 8/1/16. 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 3/31/17 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

* Less than 0.05% of Net Assets.

 

 

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, 2017?

The Seix U.S. Mortgage Fund returned –0.03% (I Shares). That compared to a 0.17% return for the Fund’s benchmark, the Bloomberg Barclays U.S. Mortgage Backed Securities Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Interest rates moved higher across the Treasury yield curve during the period, and spread levels for securitized assets tightened. In this environment, the Fund’s absolute returns benefited from higher income and price appreciation from tighter spreads.

The Fund’s allocation to adjustable rate mortgages and 15-year mortgage-backed securities detracted from relative performance during the period. However, positions in commercial mortgage-backed securities, 30-year mortgage-backed securities and Ginnie Mae 30-year mortgages helped relative performance.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

30

Table of Contents

SEIX U.S. MORTGAGE FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix U.S. Mortgage Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –0.23%          2.42%          1.74%          3.72%  
     with sales charge*            –2.73%          1.55%          1.23%          3.46%  

C Shares

    without CDSC          –0.97%          1.65%          0.96%          2.91%  
     with CDSC*            –1.95%          1.65%          0.96%          2.91%  

I Shares

                 –0.03%          2.62%          1.94%          3.92%  
Bloomberg Barclays U.S. Mortgage Backed Securities Index            0.17%          2.69%          2.04%          4.16%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  1.10%  
C Shares                                                  1.79%  
I Shares                                                  0.86%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

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 against its benchmark for the fiscal year ended March 31, 2017?

The Seix Ultra-Short Bond Fund (I Shares) returned 1.41%. That compared to a 0.45% return for the Fund’s benchmark, the Bloomberg Barclays 3-6 Month Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Over the 12-month period, rising interest rates, coupon income and spread tightening were the largest contributors to the Fund’s absolute return. As interest rates rose across the short-term Treasury yield curve, tighter spread levels for short duration corporate and securitized assets helped to offset the negative impact of these rising yields.

The Fund’s overweight allocation to higher yielding sectors generated additional coupon income. Income, price appreciation from tighter spreads, and price depreciation from the rise in interest rates drove absolute returns.

Relative to the benchmark, the Fund benefited from overweight positions to the primary spread sectors of corporate and securitized bonds, including residential and commercial mortgage-backed securities and asset-backed securities. There were no meaningful detractors from the Fund’s performance during the period.

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

We continue to monitor the Trump administration’s pro-growth business agenda, primarily around regulatory relief and potential fiscal spending, largely within the defense department. However, specifics related to tax reform and infrastructure spending have yet to materialize, and continued back-and-forth over the status of a new healthcare bill adds to uncertainty. Looking abroad, European elections could threaten the European Union and put additional pressure on the euro. In Asia, China’s continued growth slowdown, troubling debt levels and overvalued currency could prove problematic.

Given this uncertain landscape, our investment strategy will continue to seek safe income at a reasonable price. We expect demand for high-quality U.S. fixed income assets to remain strong, especially when viewed through a global relative value framework. However, spread sector valuations appear rich in the near term. Security selection will continue to drive performance in this unprecedented market environment.

 

32

Table of Contents

SEIX ULTRA-SHORT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg Barclays 3-6 Month U.S. Treasury Bill Index. The Bloomberg Barclays 3-6 Month U.S. Treasury Bill Index (“Index”) is the 3-6 month component of the Bloomberg 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 3/31/17  
Seix Ultra-Short Bond Fund                  1 Year        3 Year        5 Year        10 Year  

I Shares

                  1.41%          0.79%          0.91%          1.80%  
Bloomberg Barclays 3-6 Month U.S. Treasury Bill Index                  0.45%          0.26%          0.21%          0.87%  
                                                       
Prospectus Expense Ratio1                                                Gross  
I Shares                                                   0.38%  

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 3/31/17 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2017)

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, 2017?

The Seix Virginia Intermediate Municipal Bond Fund (I Shares) posted a total return of 0.13%. That compared to 12-month returns of -0.82% and 0.10% for the Lipper Other States Intermediate Municipal Debt Objective* and the Bloomberg Barclays Municipal Bond 1-15 Year Blend Index, respectively.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2017?

Municipal bond (muni) prices declined over the 12-month period as yields rose moderately on five-, 10- and 30-year AAA-rated munis. Credit spreads tightened and total returns generally were higher for lower-quality bonds. Bonds issued by transportation, leasing and health care entities led performance among the larger sectors in the Fund’s benchmark.

The Fund’s choice of securities with maturities between eight and 17 years added to relative performance, as did an overweight position in the strong-performing leasing sector. The advance refunding of a large holding also boosted relative returns.

An underweight allocation to the strong-performing four- to six-year section of the yield curve dragged on relative results. The Fund’s higher-than-benchmark exposure to the weak-performing special tax sector also detracted.

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

Munis remain attractive based on strong technical factors and healthy fundamentals. The opportunity to capture tax-exempt income and yields that are attractive relative to other fixed-income investments also are constructive for muni bonds in the current environment. Even so, discussion of changes in fiscal policy could lead to increased volatility in muni markets, underscoring the value of a cautious approach.

We feel the Fund’s current yield curve position and its sector allocations are appropriate given our forecasts for the economy and for financial markets. We will continue to invest tactically and focus on securities with relatively high credit quality.

 

* Lipper Other States Intermediate Municipal Debt Funds: Funds that invest in municipal debt issues with dollar-weighted average maturities of five to ten years and are exempt from taxation on a specified city or state basis.

 

34

Table of Contents

SEIX VIRGINIA INTERMEDIATE MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2017)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/07. 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 Bloomberg 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 3/31/17  
Seix Virginia Interm Muni Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

    without sales charge          –0.01%          2.56%          2.15%          3.46%  
     with sales charge*            –4.74%          0.92%          1.16%          2.96%  

I Shares

                 0.13%          2.64%          2.28%          3.60%  
Bloomberg Barclays U.S. Municipal Bond 1-15 Year Blend Index            0.10%          2.79%          2.68%          4.07%  
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.76%  
I Shares                                                  0.68%  

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2017 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 3/31/17 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2017)

as a percentage of investments

 

LOGO

 

 

35

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Core Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 4.4%  

Automobiles 0.7%

 

Ford Credit Auto Owner Trust, Series 2014-2, Cl A, 2.310%,
04/15/26(a)

     1,060,000        1,068,968  

Ford Credit Auto Owner Trust/Ford Credit, Series 2014-1, Cl A, 2.260%,
11/15/25(a)

     340,000        342,819  
    

 

 

  
       1,411,787  
    

 

 

  

Credit Card 1.7%

 

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A, 1.362%,
07/15/22(b)

     1,435,000        1,438,302  

Capital One Multi-Asset Execution Trust, Series 2005-B3, Cl B3, 1.573%, 05/15/28(b)

     396,000        381,193  

Master Credit Card Trust II, Series 2017-1A, Cl A, 2.260%, 07/21/21(a)

     960,000        965,563  

World Financial Network Credit Card Master Trust, Series 2016-B, Cl A, 1.440%, 06/15/22

     815,000        812,776  
    

 

 

  
       3,597,834  
    

 

 

  

Other 2.0%

 

DB Master Finance LLC, Series 2015-1A, Cl A2II, 3.980%, 02/20/45(a)

     1,141,700        1,160,336  

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(a)

     1,121,199        1,135,811  

Taco Bell Funding LLC, Series 2016-1A, Cl A2I, 3.832%, 05/25/46(a)

     1,198,975        1,215,419  

Verizon Owner Trust, Series 2016-1A, Cl A, 1.420%, 01/20/21(a)

     890,000        884,542  
    

 

 

  
       4,396,108  
    

 

 

  

Total Asset-Backed Securities
(Cost $9,328,567)

        9,405,729  
    

 

 

  

Collateralized Mortgage Obligations 5.5%

 

Commercial Mortgage Backed Securities 5.5%

 

Federal National Mortgage Association

     

Series 2017-M3, Cl A2, 2.569%,
12/25/26(b)

     1,190,000        1,141,564  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

 

FREMF Mortgage Trust

     

Series 2012-K21, Cl B, 3.938%,
07/25/45(a)(b)

     490,000        508,503  

Series 2013-K25, Cl B, 3.619%,
11/25/45(a)(b)

     740,000        756,300  

Series 2013-K713, Cl B, 3.166%, 04/25/46(a)(b)

     480,000        487,002  

Series 2016-K52, Cl B, 3.922%,
01/25/49(a)(b)

     745,000        737,428  
    

 

 

  
       2,489,233  
    

 

 

  

GS Mortgage Securities Corp. II

     

Series 2012-BWTR, Cl B, 3.255%, 11/05/34(a)

     1,195,000        1,210,541  
    

 

 

  

GS Mortgage Securities Trust

     

Series 2010-C1, Cl A2, 4.592%,
08/10/43(a)

     1,011,000        1,071,077  
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2014-CPT, Cl A, 3.350%,
07/13/29(a)

     770,000        796,969  

Series 2014-CPT, Cl AM, 3.402%, 07/13/29(a)(b)

     615,000        628,287  
    

 

 

  
       1,425,256  
    

 

 

  

Queens Center Mortgage Trust

     

Series 2013-QCA, Cl A, 3.275%,
01/11/37(a)

     265,000        266,621  
    

 

 

  

VNDO Mortgage Trust

     

Series 2013-PENN, Cl B, 3.947%, 12/13/29(a)(b)

     1,125,000        1,170,606  
    

 

 

  

WFRBS Commercial Mortgage Trust

     

Series 2012-C10, Cl AS, 3.241%, 12/15/45

     995,000        1,008,125  

Series 2012-C6, Cl AS, 3.835%, 04/15/45

     638,000        666,331  

Series 2012-C8, Cl AFL, 1.943%, 08/15/45(a)(b)

     1,380,000        1,394,074  
    

 

 

  
       3,068,530  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $11,810,064)

        11,843,428  
    

 

 

  

Corporate Bonds 24.8%

 

Aerospace/Defense 0.6%

 

L-3 Communications, Inc., 3.850%, 12/15/26

     305,000        309,243  

Rockwell Collins, Inc., 3.500%,
03/15/27(c)

     933,000        933,270  
    

 

 

  
       1,242,513  
    

 

 

  
 

 

See Notes to Financial Statements.

 

36

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Agriculture 0.6%

 

Japan Tobacco, Inc., 2.100%, 07/23/18(a)

     1,187,000        1,192,193  
    

 

 

  

Airlines 0.2%

 

United Airlines Pass Through Trust, Series 2016-1, Cl A, 3.450%, 07/07/28

     342,000        335,160  
    

 

 

  

Auto Manufacturers 0.5%

 

Daimler Finance North America LLC, 2.250%, 03/02/20(a)

     349,000        348,786  

General Motors Co., 5.200%, 04/01/45

     835,000        818,478  
    

 

 

  
       1,167,264  
    

 

 

  

Banks 6.5%

 

Bank of America Corp., 1.700%, 08/25/17, MTN

     644,000        644,999  

Bank of America Corp., 3.124%, 01/20/23, MTN(b)

     1,112,000        1,117,715  

Bank of New York Mellon Corp. (The), 3.000%, 10/30/28, MTN

     436,000        414,848  

Barclays PLC, 4.337%, 01/10/28

     495,000        494,023  

Citigroup, Inc., 2.500%, 09/26/18

     1,039,000        1,048,288  

Citigroup, Inc., 4.750%, 05/18/46

     497,000        490,975  

Credit Suisse Group AG, 4.282%, 01/09/28(a)

     730,000        726,825  

Goldman Sachs Group, Inc. (The), 3.850%, 01/26/27

     604,000        606,946  

Lloyds Banking Group PLC, 3.750%, 01/11/27

     847,000        832,661  

Morgan Stanley, 3.125%, 07/27/26, MTN

     1,522,000        1,452,711  

Morgan Stanley, 3.625%, 01/20/27

     436,000        432,815  

Morgan Stanley, 4.375%, 01/22/47

     602,000        602,436  

PNC Bank NA, 2.150%, 04/29/21, MTN

     715,000        707,976  

Royal Bank of Scotland Group PLC, 3.875%, 09/12/23

     1,299,000        1,280,242  

U.S. Bancorp, 2.625%, 01/24/22, MTN

     801,000        804,023  

U.S. Bancorp, 5.300%(b)(d)

     576,000        586,800  

Wells Fargo & Co., 3.069%, 01/24/23

     1,046,000        1,052,362  

Westpac Banking Corp., 4.322%, 11/23/31, GMTN(b)

     690,000        697,251  
    

 

 

  
       13,993,896  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Beverages 0.2%

 

Molson Coors Brewing Co., 4.200%, 07/15/46

     457,000        427,940  
    

 

 

  

Biotechnology 0.2%

 

Celgene Corp., 4.625%, 05/15/44

     235,000        233,071  

Celgene Corp., 5.000%, 08/15/45

     221,000        231,324  
    

 

 

  
       464,395  
    

 

 

  

Building Materials 0.2%

 

Johnson Controls International PLC, 4.500%, 02/15/47

     501,000        508,495  
    

 

 

  

Commercial Services 0.2%

 

ERAC USA Finance LLC, 4.500%, 02/15/45(a)

     211,000        201,742  

ERAC USA Finance LLC, 5.250%, 10/01/20(a)

     283,000        306,679  
    

 

 

  
       508,421  
    

 

 

  

Computers 0.9%

 

Apple, Inc., 4.250%, 02/09/47

     496,000        503,955  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 8.350%, 07/15/46(a)

     753,000        972,497  

Everett Spinco, Inc., 4.250%, 04/15/24(a)

     445,000        452,488  
    

 

 

  
       1,928,940  
    

 

 

  

Diversified Financial Services 1.3%

 

Air Lease Corp., 4.250%, 09/15/24

     1,372,000        1,420,314  

Lazard Group LLC, 3.750%, 02/13/25

     1,016,000        1,009,973  

TD Ameritrade Holding Corp., 2.950%, 04/01/22

     361,000        365,456  
    

 

 

  
       2,795,743  
    

 

 

  

Electric 0.6%

 

Berkshire Hathaway Energy Co., 6.125%, 04/01/36

     220,000        274,654  

Duke Energy Corp., 3.750%, 09/01/46

     728,000        653,574  

Exelon Generation Co. LLC, 6.200%, 10/01/17

     291,000        297,343  
    

 

 

  
       1,225,571  
    

 

 

  

Healthcare-Products 0.3%

 

Medtronic, Inc., 3.500%, 03/15/25

     176,000        180,091  

Medtronic, Inc., 4.625%, 03/15/45

     450,000        483,170  
    

 

 

  
       663,261  
    

 

 

  
 

 

See Notes to Financial Statements.

 

37

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Healthcare-Services 0.2%

 

Howard Hughes Medical Institute, 3.500%, 09/01/23

     334,000        349,881  
    

 

 

  

Insurance 0.6%

 

MassMutual Global Funding LLC, 2.000%, 04/05/17(a)

     702,000        702,000  

Nationwide Financial Services, Inc., 5.375%, 03/25/21(a)

     556,000        605,239  
    

 

 

  
       1,307,239  
    

 

 

  

Lodging 0.1%

 

Wyndham Worldwide Corp., 4.500%, 04/01/27

     219,000        220,625  
    

 

 

  

Machinery-Diversified 0.1%

 

Xylem, Inc., 3.250%, 11/01/26

     298,000        294,263  
    

 

 

  

Media 0.6%

 

Time Warner, Inc., 3.800%, 02/15/27

     795,000        786,331  

Viacom, Inc., 3.450%, 10/04/26

     422,000        401,388  
    

 

 

  
       1,187,719  
    

 

 

  

Mining 1.6%

 

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

     775,000        888,705  

Barrick International Barbados Corp., 6.350%, 10/15/36(a)

     658,000        747,688  

Newmont Mining Corp., 6.250%, 10/01/39

     1,532,000        1,777,532  
    

 

 

  
       3,413,925  
    

 

 

  

Miscellaneous Manufacturer 0.4%

 

General Electric Co., 4.125%, 10/09/42

     189,000        192,516  

General Electric Co., 5.250%, 12/06/17

     653,000        669,537  
    

 

 

  
       862,053  
    

 

 

  

Oil & Gas 1.5%

 

BP Capital Markets PLC, 2.112%, 09/16/21

     232,000        227,837  

HollyFrontier Corp., 5.875%, 04/01/26

     1,025,000        1,088,261  

Nabors Industries, Inc., 5.500%, 01/15/23(a)

     289,000        294,961  

Shell International Finance BV, 1.750%, 09/12/21

     402,000        390,760  

Shell International Finance BV, 4.375%, 05/11/45

     659,000        668,294  

Woodside Finance Ltd., 4.600%, 05/10/21(a)

     550,000        576,725  
    

 

 

  
       3,246,838  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas Services 0.8%

 

Schlumberger Holdings Corp., 3.000%, 12/21/20(a)

     454,000        464,226  

Schlumberger Holdings Corp., 4.000%, 12/21/25(a)

     887,000        924,411  

Schlumberger Investment SA, 3.300%, 09/14/21(a)

     285,000        293,661  

TechnipFMC PLC, 3.450%, 10/01/22

     127,000        125,928  
    

 

 

  
       1,808,226  
    

 

 

  

Pharmaceuticals 0.1%

 

Novartis Securities Investment Ltd., 5.125%, 02/10/19

     215,000        228,431  
    

 

 

  

Pipelines 1.8%

 

Boardwalk Pipelines LP, 4.450%, 07/15/27

     280,000        282,890  

Energy Transfer Partners LP, 5.300%, 04/15/47

     663,000        634,446  

EnLink Midstream Partners LP, 4.150%, 06/01/25

     838,000        827,918  

MPLX LP, 5.200%, 03/01/47

     465,000        467,914  

Sabine Pass Liquefaction LLC, 4.200%, 03/15/28(a)

     1,121,000        1,107,338  

Transcanada Trust, 5.300%, 03/15/77(b)

     117,000        115,611  

Valero Energy Partners LP, 4.375%, 12/15/26

     431,000        434,947  
    

 

 

  
       3,871,064  
    

 

 

  

Real Estate Investment Trust 1.1%

 

American Tower Corp., 3.500%, 01/31/23

     312,000        313,845  

American Tower Corp., 5.000%, 02/15/24

     572,000        617,724  

Boston Properties LP, 3.650%, 02/01/26

     375,000        373,535  

Digital Realty Trust LP, 3.950%, 07/01/22

     627,000        653,000  

Digital Realty Trust LP, 4.750%, 10/01/25

     425,000        448,547  
    

 

 

  
       2,406,651  
    

 

 

  

Retail 0.2%

 

Home Depot, Inc. (The), 2.625%, 06/01/22

     345,000        347,815  
    

 

 

  

Semiconductors 1.9%

 

Analog Devices, Inc., 3.500%, 12/05/26

     616,000        610,071  

Applied Materials, Inc., 3.300%, 04/01/27

     628,000        630,494  
 

 

See Notes to Financial Statements.

 

38

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Semiconductors—continued

 

Broadcom Corp./Broadcom Cayman Finance Ltd., 3.875%, 01/15/27(a)

     667,000        670,517  

NVIDIA Corp., 3.200%, 09/16/26

     444,000        430,661  

TSMC Global Ltd., 1.625%, 04/03/18(a)

     1,673,000        1,668,751  
    

 

 

  
       4,010,494  
    

 

 

  

Software 0.6%

 

Oracle Corp., 2.650%, 07/15/26

     1,329,000        1,265,484  
    

 

 

  

Telecommunication Services 0.9%

 

AT&T, Inc., 2.375%, 11/27/18

     532,000        535,687  

AT&T, Inc., 4.350%, 06/15/45

     598,000        526,348  

Cisco Systems, Inc., 2.125%, 03/01/19

     460,000        464,799  

Verizon Communications, Inc., 5.500%, 03/16/47

     323,000        338,551  
    

 

 

  
       1,865,385  
    

 

 

  

Total Corporate Bonds
(Cost $52,070,598)

        53,139,885  
    

 

 

  

U.S. Government Agency Mortgages 22.8%

 

Federal Home Loan Mortgage Corporation

     

Pool #G30614, 3.500%, 12/01/32

     747,877        780,275  

Pool #C91768, 3.500%, 07/01/34

     940,135        975,539  

Pool #G01779, 5.000%, 04/01/35

     116,269        127,517  

Pool #G01838, 5.000%, 07/01/35

     25,467        27,967  

Pool #G01837, 5.000%, 07/01/35

     53,119        58,201  

Pool #Z40115, 6.000%, 05/01/36

     768,124        868,451  

Pool #G03296, 6.000%, 09/01/37

     267,661        309,973  

Pool #G05326, 5.000%, 02/01/38

     111,190        121,410  

Pool #G08347, 4.500%, 06/01/39

     123,817        133,023  

Pool #G08353, 4.500%, 07/01/39

     160,251        172,245  

Pool #G05606, 4.500%, 07/01/39

     1,421,890        1,528,596  

Pool #G06079, 6.000%, 07/01/39

     50,490        57,186  

Pool #A89148, 4.000%, 10/01/39

     302,845        318,715  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #A89384, 4.000%, 10/01/39

     57,857        60,931  

Pool #G08372, 4.500%, 11/01/39

     474,976        510,470  

Pool #A93101, 5.000%, 07/01/40

     56,320        61,398  

Pool #G06061, 4.000%, 10/01/40

     453,331        478,363  

Pool #A95085, 4.000%, 11/01/40

     290,939        306,427  

Pool #V82101, 4.000%, 11/01/40

     215,843        227,351  

Pool #A95822, 4.000%, 12/01/40

     500,361        529,161  

Pool #A95796, 4.000%, 12/01/40

     176,812        186,212  

Pool #G60126, 4.500%, 11/01/41

     45,815        49,225  

Pool #C04123, 4.000%, 07/01/42

     828,609        876,009  

Pool #Q13801, 3.000%, 12/01/42

     204,297        203,707  

Pool #G60019, 4.500%, 03/01/44

     1,636,865        1,759,927  

Pool #Q29416, 4.000%, 11/01/44

     237,007        249,718  

Pool #Q31645, 4.000%, 02/01/45

     132,072        139,148  

Pool #Q31066, 4.000%, 02/01/45

     182,067        192,079  

Pool #G60589, 4.000%, 02/01/45

     1,618,475        1,699,102  

Pool #Q35611, 4.000%, 09/01/45

     1,170,483        1,233,328  

Pool #Q36238, 4.000%, 09/01/45

     221,939        232,975  

Pool #Q37163, 3.500%, 11/01/45

     645,283        662,398  

Pool #Q38473, 4.000%, 01/01/46

     787,077        826,215  

Pool #Q40240, 4.000%, 03/01/46

     247,853        260,177  

Pool #Q40124, 3.500%, 04/01/46

     815,909        837,555  

Pool #Q40123, 3.500%, 04/01/46

     637,441        654,932  

Pool #Q40723, 4.000%, 05/01/46

     712,126        747,537  
    

 

 

  
       18,463,443  
    

 

 

  
 

 

See Notes to Financial Statements.

 

39

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Core Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Federal National Mortgage Association

     

Pool #AP9592, 3.500%, 10/01/32

     773,905        808,258  

Pool #MA1630, 4.000%, 10/01/33

     273,183        289,308  

Pool #MA1763, 3.500%, 01/01/34

     312,620        326,502  

Pool #890248, 6.000%, 08/01/37

     72,720        83,171  

Pool #AE0814, 6.000%, 09/01/39

     745,104        841,267  

Pool #AC2817, 4.000%, 10/01/39

     76,180        79,965  

Pool #AX3605, 3.500%, 01/01/40

     229,694        236,356  

Pool #AC9564, 4.500%, 02/01/40

     210,044        227,182  

Pool #AL7497, 3.500%, 09/01/40

     2,279,922        2,347,642  

Pool #AE3860, 5.000%, 10/01/40

     811,165        888,538  

Pool #AE9284, 4.000%, 11/01/40

     99,058        104,167  

Pool #AE5143, 4.000%, 11/01/40

     64,092        67,495  

Pool #AE4414, 4.000%, 11/01/40

     453,698        477,303  

Pool #MA0639, 4.000%, 02/01/41

     207,660        218,590  

Pool #AL0215, 4.500%, 04/01/41

     705,165        759,099  

Pool #AB3274, 4.500%, 07/01/41

     370,368        399,259  

Pool #AW8154, 3.500%, 01/01/42

     1,158,298        1,192,473  

Pool #AB5188, 3.500%, 05/01/42

     405,666        417,266  

Pool #AZ0572, 3.000%, 06/01/42

     448,933        447,542  

Pool #AP7874, 3.500%, 10/01/42

     285,520        293,454  

Pool #AB8726, 3.500%, 03/01/43

     1,131,183        1,162,624  

Pool #AT4912, 4.000%, 05/01/43

     430,319        453,244  

Pool #AT0536, 4.000%, 10/01/43

     303,959        319,092  

Pool #AS0653, 4.000%, 10/01/43

     172,204        181,534  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AV3452, 4.000%, 02/01/44

     588,814        617,831  

Pool #AL6223, 4.500%, 08/01/44

     791,786        850,021  

Pool #AL9127, 4.000%, 10/01/44

     1,750,636        1,844,959  

Pool #AY2685, 4.500%, 01/01/45

     104,264        112,359  

Pool #BD9394, 3.500%, 06/01/45

     293,334        300,581  

Pool #MA2341, 4.500%, 06/01/45

     53,023        56,908  

Pool #AZ9213, 4.000%, 10/01/45

     1,312,285        1,384,820  

Pool #AS6515, 4.000%, 01/01/46

     1,209,296        1,268,918  

Pool #BC2470, 3.500%, 02/01/46

     525,701        542,623  

Pool #AX5534, 4.000%, 06/01/46

     141,213        150,072  

Pool #AS7561, 4.000%, 06/01/46

     200,994        213,603  

Pool #BC8441, 4.000%, 06/01/46

     334,628        351,144  

Pool #BC5673, 4.000%, 08/01/46

     977,814        1,026,079  

Pool #BD4896, 4.000%, 08/01/46

     889,882        933,803  

Pool #BC5696, 4.000%, 09/01/46

     828,022        868,891  
    

 

 

  
       23,143,943  
    

 

 

  

Government National Mortgage Association

     

Pool #736663, 5.000%, 03/15/40

     844,452        923,011  

Pool #783653, 5.000%, 08/15/40

     133,165        146,504  

Pool #MA0321, 5.000%, 08/20/42

     75,997        82,512  

Pool #AM0226, 4.000%, 05/15/45

     857,859        906,083  

Pool #AM9875, 4.000%, 06/15/45

     373,001        394,886  

Pool #AN6811, 4.000%, 07/15/45

     177,772        187,839  

Pool #AM8631, 4.000%, 07/15/45

     593,632        627,294  

Pool #AN5745, 4.000%, 07/15/45

     737,734        782,464  
 

 

See Notes to Financial Statements.

 

40

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Core Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AN5764, 4.000%, 07/15/45

     278,241        293,914  

Pool #AN5766, 4.000%, 07/15/45

     297,860        314,607  

Pool #MA3875, 4.000%, 08/20/46

     972,675        1,028,070  

Pool #AV6530, 4.000%, 08/20/46

     347,821        367,630  

Pool #MA4005, 4.000%, 10/20/46

     691,360        730,734  

Pool #MA4072, 5.000%, 11/20/46

     423,835        455,610  
    

 

 

  
       7,241,158  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $48,758,130)

        48,848,544  
    

 

 

  

U.S. Treasury Obligations 40.1%

 

U.S. Treasury Bond 2.8%

 

2.875%, 11/15/46

     6,125,000        5,942,922  
    

 

 

  

U.S. Treasury Inflation Indexed Bond 2.8%

 

1.000%, 02/15/46

     5,888,893        5,978,399  
    

 

 

  

U.S. Treasury Notes 34.5%

 

0.625%, 09/30/17

     2,650,000        2,646,274  

1.250%, 10/31/18

     1,594,000        1,595,245  

0.750%, 08/15/19

     14,961,000        14,750,020  

1.375%, 04/30/20

     5,652,000        5,621,089  

1.625%, 07/31/20(e)

     22,494,000        22,496,632  

2.000%, 05/31/21

     12,324,000        12,417,391  

2.250%, 02/15/27

     14,746,000        14,557,649  
    

 

 

  
       74,084,300  
    

 

 

  

Total U.S. Treasury Obligations
(Cost $86,264,674)

        86,005,621  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Fund 6.3%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(f)

     13,510,206        13,510,206  
    

 

 

  

Total Money Market Fund
(Cost $13,510,206)

        13,510,206  
    

 

 

  

Total Investments
(Cost $221,742,239) — 103.9%

 

      222,753,413  

Liabilities in Excess of Other Assets — (3.9)%

        (8,292,147 ) 
    

 

 

  

Net Assets — 100.0%

      $ 214,461,266  
    

 

 

  

 

(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 13.1% of net assets as of March 31, 2017.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Perpetual maturity.

 

(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, 2017.

Investment Abbreviation

 

MTN   —   Medium Term Note
GMTN   —   Global Medium Term Note
 

 

See Notes to Financial Statements.

 

41

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Corporate Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Corporate Bonds 88.3%  

Aerospace/Defense 2.1%

 

L-3 Communications, Inc., 3.850%, 12/15/26

     97,000        98,349  

Rockwell Collins, Inc., 3.500%, 03/15/27(a)

     338,000        338,098  
    

 

 

  
       436,447  
    

 

 

  

Agriculture 1.2%

 

Japan Tobacco, Inc., 2.100%, 07/23/18(b)

     250,000        251,094  
    

 

 

  

Airlines 0.5%

 

United Airlines Pass Through Trust, Series 2016-1, Cl A, 3.450%, 07/07/28

     110,000        107,800  
    

 

 

  

Auto Manufacturers 1.3%

 

General Motors Co., 5.200%, 04/01/45

     267,000        261,717  
    

 

 

  

Banks 23.3%

 

Bank of America Corp., 3.124%, 01/20/23, MTN(c)

     374,000        375,922  

Bank of New York Mellon Corp. (The), 3.000%, 10/30/28, MTN

     227,000        215,988  

Barclays PLC, 4.337%, 01/10/28

     200,000        199,605  

Citigroup, Inc., 4.750%, 05/18/46

     250,000        246,970  

Credit Suisse Group AG, 4.282%,
01/09/28(b)

     252,000        250,904  

Goldman Sachs Group, Inc. (The), 3.850%, 01/26/27

     209,000        210,019  

JPMorgan Chase & Co., 1.800%, 01/25/18

     255,000        255,392  

Lloyds Banking Group PLC, 3.750%, 01/11/27

     293,000        288,040  

Morgan Stanley, 2.625%, 11/17/21, MTN

     190,000        188,748  

Morgan Stanley, 3.625%, 01/20/27

     151,000        149,897  

Morgan Stanley, 4.375%, 01/22/47

     208,000        208,151  

National Australia Bank Ltd., 1.875%, 07/12/21

     434,000        421,481  

PNC Bank NA, 2.150%, 04/29/21, MTN

     250,000        247,544  

Royal Bank of Scotland Group PLC, 3.875%, 09/12/23

     649,000        639,628  

U.S. Bancorp, 2.625%, 01/24/22, MTN

     124,000        124,468  

U.S. Bancorp, 5.300%(c)(d)

     209,000        212,919  

Wells Fargo & Co., 3.069%, 01/24/23

     351,000        353,135  
     Shares or
Principal
Amount($)		      Value($)  

Banks—continued

 

Westpac Banking Corp., 4.322%, 11/23/31, MTN(c)

     219,000        221,301  
    

 

 

  
       4,810,112  
    

 

 

  

Biotechnology 0.8%

 

Celgene Corp., 4.625%, 05/15/44

     76,000        75,376  

Celgene Corp., 5.000%, 08/15/45

     78,000        81,644  
    

 

 

  
       157,020  
    

 

 

  

Building Materials 1.0%

 

Johnson Controls International PLC, 4.500%, 02/15/47

     202,000        205,022  
    

 

 

  

Computers 4.2%

 

Apple, Inc., 1.000%, 05/03/18

     401,000        399,769  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 8.350%, 07/15/46(b)

     239,000        308,668  

Everett Spinco, Inc., 4.250%, 04/15/24(b)

     160,000        162,692  
    

 

 

  
       871,129  
    

 

 

  

Diversified Financial Services 6.5%

 

   

Air Lease Corp., 4.250%, 09/15/24

     395,000        408,910  

Jefferies Group LLC, 4.850%, 01/15/27(e)

     415,000        423,626  

Lazard Group LLC, 3.750%, 02/13/25(f)

     401,000        398,621  

TD Ameritrade Holding Corp., 2.950%, 04/01/22

     115,000        116,419  
    

 

 

  
       1,347,576  
    

 

 

  

Electric 4.4%

 

Berkshire Hathaway Energy Co., 6.125%, 04/01/36

     104,000        129,836  

Duke Energy Corp., 3.750%, 09/01/46

     227,000        203,793  

Exelon Generation Co. LLC, 6.200%, 10/01/17

     370,000        378,065  

FirstEnergy Transmission LLC, 5.450%, 07/15/44(b)

     184,000        200,985  
    

 

 

  
       912,679  
    

 

 

  

Healthcare-Products 1.1%

 

Medtronic, Inc., 3.500%, 03/15/25

     63,000        64,464  

Medtronic, Inc., 4.625%, 03/15/45

     145,000        155,688  
    

 

 

  
       220,152  
    

 

 

  

Healthcare-Services 1.1%

 

Roche Holdings, Inc., 2.250%, 09/30/19(b)

     216,000        217,825  
    

 

 

  
 

 

See Notes to Financial Statements.

 

42

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Corporate Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Lodging 0.4%

 

Wyndham Worldwide Corp., 4.500%, 04/01/27

     78,000        78,579  
    

 

 

  

Media 3.1%

 

Time Warner, Inc., 3.800%, 02/15/27

     252,000        249,252  

Viacom, Inc., 3.450%, 10/04/26

     133,000        126,504  

Viacom, Inc., 5.875%, 02/28/57(c)

     262,000        267,240  
    

 

 

  
       642,996  
    

 

 

  

Mining 3.6%

 

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

     217,000        248,837  

Barrick International Barbados Corp., 6.350%, 10/15/36(b)

     219,000        248,851  

Newmont Mining Corp., 6.250%, 10/01/39

     202,000        234,374  
    

 

 

  
       732,062  
    

 

 

  

Miscellaneous Manufacturer 0.6%

 

General Electric Co., 4.125%, 10/09/42

     127,000        129,362  
    

 

 

  

Oil & Gas 9.9%

 

Chevron Corp., 1.718%, 06/24/18

     399,000        400,281  

Ensco PLC, 4.500%, 10/01/24

     161,000        135,643  

Ensco PLC, 5.200%, 03/15/25

     387,000        335,723  

Ensco PLC, 5.750%, 10/01/44

     142,000        107,210  

Exxon Mobil Corp., 1.305%, 03/06/18

     309,000        308,756  

HollyFrontier Corp., 5.875%, 04/01/26

     325,000        345,058  

Nabors Industries, Inc., 5.500%, 01/15/23(b)

     90,000        91,856  

Shell International Finance BV, 1.750%, 09/12/21

     123,000        119,561  

Shell International Finance BV, 2.000%, 11/15/18

     190,000        190,824  
    

 

 

  
       2,034,912  
    

 

 

  

Oil & Gas Services 2.7%

 

Schlumberger Holdings Corp., 3.000%, 12/21/20(b)

     162,000        165,649  

Schlumberger Holdings Corp., 4.000%, 12/21/25(b)

     313,000        326,201  

TechnipFMC PLC, 3.450%, 10/01/22

     55,000        54,536  
    

 

 

  
       546,386  
    

 

 

  

Pipelines 9.4%

 

Boardwalk Pipelines LP, 4.450%, 07/15/27

     97,000        98,001  
     Shares or
Principal
Amount($)		      Value($)  

Pipelines—continued

 

Energy Transfer Partners LP, 5.300%, 04/15/47

     229,000        219,138  

EnLink Midstream Partners LP, 4.150%, 06/01/25

     310,000        306,270  

MPLX LP, 5.200%, 03/01/47

     168,000        169,053  

NuStar Logistics LP, 4.800%, 09/01/20(f)

     300,000        303,570  

Sabine Pass Liquefaction LLC, 4.200%, 03/15/28(b)

     408,000        403,028  

Transcanada Trust, 5.300%, 03/15/77(c)

     307,000        303,354  

Valero Energy Partners LP, 4.375%, 12/15/26

     134,000        135,227  
    

 

 

  
       1,937,641  
    

 

 

  

Real Estate Investment Trust 1.7%

 

Digital Realty Trust LP, 3.950%, 07/01/22

     220,000        229,123  

Digital Realty Trust LP, 4.750%, 10/01/25

     123,000        129,815  
    

 

 

  
       358,938  
    

 

 

  

Retail 0.7%

 

Home Depot, Inc. (The), 2.625%, 06/01/22

     138,000        139,126  
    

 

 

  

Semiconductors 4.8%

 

Analog Devices, Inc., 3.500%, 12/05/26

     195,000        193,123  

Applied Materials, Inc., 3.300%, 04/01/27

     227,000        227,902  

Broadcom Corp./Broadcom Cayman Finance Ltd., 3.875%, 01/15/27(b)

     230,000        231,212  

NVIDIA Corp., 3.200%, 09/16/26

     144,000        139,674  

TSMC Global Ltd., 1.625%, 04/03/18(b)(f)

     200,000        199,492  
    

 

 

  
       991,403  
    

 

 

  

Software 2.3%

 

Microsoft Corp., 1.100%, 08/08/19

     481,000        475,747  
    

 

 

  

Telecommunication Services 1.6%

 

AT&T, Inc., 4.350%, 06/15/45

     230,000        202,442  

Verizon Communications, Inc., 5.500%, 03/16/47

     117,000        122,633  
    

 

 

  
       325,075  
    

 

 

  

Total Corporate Bonds
(Cost $18,030,893)

        18,190,800  
    

 

 

  
 

 

See Notes to Financial Statements.

 

43

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Corporate Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Treasury Obligations 6.8%

 

U.S. Treasury Bond 1.0%

 

2.875%, 11/15/46

     209,000        202,787  
    

 

 

  

U.S. Treasury Note 5.8%

 

2.250%, 02/15/27

     1,223,000        1,207,379  
    

 

 

  

Total U.S. Treasury Obligations (Cost $1,403,664)

        1,410,166  
    

 

 

  

Foreign Government Bond 1.1%

 

Sovereign 1.1%

 

Argentine Republic Government International Bond, 7.500%, 04/22/26(b)

     217,000        230,671  
    

 

 

  

Total Foreign Government Bond (Cost $239,729)

        230,671  
    

 

 

  

Money Market Funds 11.0%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(g)

     2,251,957        2,251,957  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(g)(h)

     10,525        10,525  
    

 

 

  

Total Money Market Funds
(Cost $2,262,482)

        2,262,482  
    

 

 

  

Total Investments
(Cost $21,936,768) — 107.2%

        22,094,119  

Liabilities in Excess of Other Assets — (7.2)%

        (1,484,127 ) 
    

 

 

  

Net Assets — 100.0%

      $ 20,609,992  
    

 

 

  

 

(a) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(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 16.0% of net assets as of March 31, 2017.

 

(c) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(d) Perpetual maturity.

 

(e) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $10,208.

 

(f) 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.

 

(g) Rate disclosed, the 7 day yield, is as of March 31, 2017.

 

(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, 2017 (See Note 2(k)).

Investment Abbreviation

MTN — Medium Term Note

 

 

See Notes to Financial Statements.

 

44

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Security 0.1%  

Other 0.1%

 

CIFC Funding Ltd., Series 2015-1A, Cl F, 7.541%, 01/22/27(a)(b)

     5,000,000        4,592,235  
    

 

 

  

Total Asset-Backed Security
(Cost $4,600,000)

        4,592,235  
    

 

 

  

Bank Loans 91.4%

 

Aerospace 2.5%

 

Aerojet Rocketdyne Holdings, Inc., Delayed Draw Term Loan,
06/17/21(b)(c)(d)

     8,825,385        8,737,131  

Air Canada, 2016 Term Loan B, 3.755%, 10/06/23(a)(b)

     12,875,000        12,931,393  

AM General LLC, 2nd Lien Term Loan, 12.750%, 06/21/22(a)(b)

     7,000,000        7,070,000  

AWAS Finance Luxembourg S.A.R.L., Term Loan B, 4.360%,
06/10/18(a)(b)

     8,772,816        8,800,275  

DAE Aviation Holdings, Inc., 1st Lien Term Loan, 5.250%,
07/07/22(a)(b)(d)

     10,212,622        10,250,920  

Engility Corp., Term Loan B1, 4.232%, 08/12/20(a)(b)(d)

     12,835,718        12,891,938  

Engility Corp., Term Loan B2, 4.750%-6.750%, 08/12/23(a)(b)

     20,204,206        20,286,235  

TransDigm, Inc., Term Loan D, 3.982%-4.147%, 06/04/21(a)(b)

     9,379,339        9,347,543  

TransDigm, Inc., 2015 Term Loan E, 3.982%-4.147%, 05/14/22(a)(b)(d)

     18,393,177        18,311,143  

TransDigm, Inc., 2016 Extended Term Loan F, 3.982%,
06/09/23(a)(b)(d)(e)

     31,793,607        31,629,552  

WP CPP Holdings LLC, Term Loan B3, 4.539%, 12/28/19(a)(b)

     8,161,089        7,671,424  
    

 

 

  
       147,927,554  
    

 

 

  

Broadcasting 2.6%

 

CBS Radio, Inc., 2017 Term Loan B, 03/02/24(b)(c)(d)

     6,740,000        6,773,700  

CBS Radio, Inc., Term Loan B, 4.500%, 10/17/23(a)(b)

     6,127,943        6,171,329  

Cumulus Media Holdings, Inc., 2013 Term Loan, 4.250%, 12/23/20(a)(b)

     8,810,805        6,598,676  
     Shares or
Principal
Amount($)		      Value($)  

Broadcasting—continued

 

iHeartCommunications, Inc., USD Extended Term Loan E, 8.482%, 07/30/19(a)(b)(e)

     72,072,285        61,549,731  

Mission Broadcasting, Inc., 2016 Term Loan B2, 3.943%,
01/17/24(a)(b)

     490,153        493,981  

Nexstar Broadcasting, Inc., 2017 Term Loan B, 3.943%,
01/17/24(a)(b)

     5,055,756        5,095,242  

Quincy Newspapers, Inc., Term Loan B, 5.000%-7.000%, 10/13/22(a)(b)

     4,462,415        4,490,305  

Sinclair Television Group, Inc., Term Loan B2, 3.240%, 01/03/24(a)(b)

     3,356,588        3,361,622  

Tribune Media Co., Term Loan, 3.982%, 12/27/20(a)(b)

     1,094,306        1,103,202  

Tribune Media Co., Term Loan C, 3.982%, 01/27/24(a)(b)

     13,673,314        13,741,681  

Univision Communications, Inc., Term Loan C5, 3.750%, 03/15/24(a)(b)(d)

     47,321,905        47,006,268  
    

 

 

  
       156,385,737  
    

 

 

  

Cable/Wireless Video 6.3%

 

Altice U.S. Finance I Corp., 2016 Term Loan B, 3.982%,
01/15/25(a)(b)

     21,232,897        21,193,192  

Charter Communications Operating LLC, Repriced Term Loan E, 2.990%, 07/01/20(a)(b)

     13,529,014        13,559,049  

Charter Communications Operating LLC, Repriced Term Loan F, 2.990%, 01/03/21(a)(b)

     3,812,406        3,820,031  

Charter Communications Operating LLC, 2016 Term Loan H Add, 2.990%, 01/15/22(a)(b)

     16,433,030        16,464,910  

Charter Communications Operating LLC, 2016 Term Loan I Add, 3.232%, 01/15/24(a)(b)

     10,787,891        10,834,386  

CSC Holdings LLC, 2017 1st Lien Term Loan, 07/09/25(b)(c)(d)

     415,000        414,377  
 

 

See Notes to Financial Statements.

 

45

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Cable/Wireless Video—continued

 

CSC Holdings LLC, 2017 Delayed Draw Term Loan, 07/15/25(b)(c)(d)

     3,465,000        3,452,006  

CSC Holdings LLC, 2016 Term Loan, 3.943%, 10/11/24(a)(b)

     11,769,844        11,736,770  

Intelsat Jackson Holdings S.A., Term Loan B2, 3.887%, 06/30/19(a)(b)

     30,470,000        29,801,489  

Liberty Cablevision of Puerto Rico LLC, 1st Lien Term Loan, 4.523%, 01/07/22(a)(b)

     18,525,893        18,441,045  

Liberty Cablevision of Puerto Rico LLC, 2nd Lien Term Loan, 7.773%, 07/07/23(a)(b)

     7,945,000        7,726,512  

MCC Iowa LLC, Term Loan H, 3.450%, 01/29/21(a)(b)

     4,806,644        4,827,697  

Mediacom Illinois LLC, Term Loan K, 3.200%, 02/15/24(a)(b)

     12,780,000        12,833,293  

Quebecor Media, Inc., Term Loan B1, 3.539%, 08/17/20(a)(b)

     26,860,658        26,905,515  

Radiate Holdco LLC, 1st Lien Term Loan, 3.982%, 02/01/24(a)(b)

     11,740,000        11,785,669  

UPC Financing Partnership, USD Term Loan AP, 3.662%,
04/15/25(a)(b)

     23,845,000        23,894,598  

Virgin Media Investment Holdings Ltd., USD Term Loan I, 3.662%, 01/31/25(a)(b)

     42,970,000        43,064,104  

WideOpenWest Finance LLC, 2016 Term Loan B, 4.482%-4.554%, 08/18/23(a)(b)

     32,989,225        33,135,697  

Ziggo Secured Finance Partnership, USD Term Loan E, 3.412%, 04/15/25(a)(b)

     84,360,000        84,219,119  
    

 

 

  
       378,109,459  
    

 

 

  

Chemicals 3.6%

 

Albaugh LLC, Term Loan B, 6.000%, 05/31/21(a)(b)

     4,052,785        4,078,115  
     Shares or
Principal
Amount($)		      Value($)  

Chemicals—continued

 

Axalta Coating Systems U.S. Holdings, Inc., Term Loan B1, 3.647%, 02/01/23(a)(b)

     3,991,779        4,022,835  

Emerald Performance Materials LLC, New 1st Lien Term Loan, 4.500%, 08/01/21(a)(b)

     1,140,340        1,151,743  

Emerald Performance Materials LLC, New 2nd Lien Term Loan, 8.750%, 08/01/22(a)(b)(d)

     17,561,391        17,512,044  

Ferro Corp., USD 2017 Term Loan B, 3.536%, 02/14/24(a)(b)

     8,515,000        8,557,575  

Gemini HDPE LLC, Term Loan B, 4.039%, 08/07/21(a)(b)(d)

     17,797,581        17,964,522  

INEOS Styrolution Group GmbH, USD 2017 1st Lien Term Loan, 3.902%, 03/07/24(a)

     13,765,500        13,771,281  

Ineos U.S. Finance LLC, 2022 USD Term Loan, 3.732%, 03/31/22(a)(b)

     67,936,607        68,264,062  

Ineos U.S. Finance LLC, 2024 USD Term Loan, 3.732%, 04/01/24(a)(b)

     16,997,400        17,077,118  

Kraton Polymers LLC, 2016 Term Loan B, 5.000%, 01/06/22(a)(b)

     10,610,509        10,703,351  

MacDermid, Inc., USD Term Loan B5, 4.500%, 06/07/20(a)(b)

     4,562,884        4,605,273  

MacDermid, Inc., 2016 USD Term Loan, 4.982%, 06/07/23(a)(b)

     7,090,203        7,103,532  

Minerals Technologies, Inc., 2017 Term Loan B, 3.410%-5.250%, 02/14/24(a)(b)

     8,046,138        8,076,311  

Minerals Technologies, Inc., Fixed Rate Term Loan, 4.750%,
05/09/21(a)(b)

     16,808,083        16,850,103  

New Arclin U.S. Holding Corp., 1st Lien Term Loan, 5.670%,
02/14/24(a)(b)

     1,795,000        1,808,462  

Royal Holdings, Inc., 2017 Term Loan B, 4.397%, 06/19/22(a)(b)

     6,873,106        6,935,377  
 

 

See Notes to Financial Statements.

 

46

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Chemicals—continued

 

Univar, Inc., 2017 Term Loan B, 3.732%, 07/01/22(a)(b)

     4,374,705        4,382,229  
    

 

 

  
       212,863,933  
    

 

 

  

Consumer Durables 0.3%

 

American Bath Group LLC, 2017 Term Loan B, 6.397%, 09/30/23(a)(b)(d)

     10,386,516        10,472,204  

Comfort Holding LLC, 1st Lien Term Loan, 5.750%, 02/05/24(a)(b)

     4,255,000        4,273,637  

Serta Simmons Bedding LLC, 1st Lien Term Loan, 4.538%, 11/08/23(a)(b)

     3,810,000        3,819,525  
    

 

 

  
       18,565,366  
    

 

 

  

Consumer Non-Durables 0.8%

 

Eastman Kodak Co., Exit Term Loan, 7.250%, 09/03/19(a)(b)

     8,804,692        8,812,000  

Galleria Co., USD Term Loan B, 3.813%, 09/29/23(a)(b)

     8,128,333        8,189,296  

Nature’s Bounty Co. (The), 2017 USD Term Loan B, 4.647%,
05/05/23(a)(b)

     11,691,827        11,755,197  

Prestige Brands, Inc., Term Loan B4, 3.732%, 01/26/24(a)(b)

     10,318,998        10,404,955  

Varsity Brands, Inc., 1st Lien Term Loan, 5.000%, 12/11/21(a)(b)

     8,780,264        8,887,823  
    

 

 

  
       48,049,271  
    

 

 

  

Diversified Media 5.8%

 

Affinion Group, Inc., Term Loan B, 6.750%, 04/30/18(a)(b)

     5,298,718        5,273,231  

ALM Media Holdings, Inc., 1st Lien Term Loan, 5.500%, 07/31/20(a)

     5,010,938        4,729,072  

AP NMT Acquisition B.V., USD 1st Lien Term Loan, 6.750%,
08/13/21(a)(b)

     14,998,161        13,279,672  

Camelot UK Holdco Ltd., Term Loan B, 4.750%, 10/03/23(a)(b)

     9,910,200        9,916,443  

Creative Artists Agency LLC, 2017 1st Lien Term Loan B, 4.500%-6.500%, 02/15/24(a)(b)

     11,665,762        11,818,934  
     Shares or
Principal
Amount($)		      Value($)  

Diversified Media—continued

 

Delta 2 (LUX) S.A.R.L., USD Term Loan B3, 02/01/24(b)(c)(d)

     9,430,000        9,420,570  

Deluxe Entertainment Services Group, Inc., Term Loan 2014, 6.539%, 02/28/20(a)(b)

     16,897,900        17,003,512  

Donnelley Financial Solutions, Inc., Term Loan B, 5.000%,
09/30/23(a)(b)

     3,912,857        3,945,451  

Harland Clarke Holdings Corp., Term Loan B6, 6.647%, 02/09/22(a)(b)(d)

     97,827,801        98,439,225  

Harland Clarke Holdings Corp., Term Loan B5, 7.147%, 12/31/21(a)(b)(e)

     24,083,153        24,275,818  

Learfield Communications, Inc., 2016 1st Lien Term Loan, 4.250%, 11/17/23(a)(b)

     2,508,713        2,533,800  

Lions Gate Entertainment Corp., Term Loan A, 3.482%, 12/08/21(a)(b)

     14,812,500        14,886,563  

Lions Gate Entertainment Corp., 2016 1st Lien Term Loan, 3.982%, 12/08/23(a)(b)

     25,912,000        26,049,593  

McGraw-Hill Global Education Holdings LLC, 2016 Term Loan B, 5.000%, 05/04/22(a)(b)

     5,776,480        5,705,891  

Merrill Communications LLC, 2015 Term Loan, 6.289%, 06/01/22(a)(b)

     12,379,147        12,379,147  

MH Sub I LLC, 2017 Incremental 1st Lien Term Loan, 4.750%,
07/08/21(a)(b)

     2,713,909        2,720,694  

Nielsen Finance LLC, USD Term Loan B3, 3.354%, 10/04/23(a)(b)

     9,850,313        9,896,018  

Rovi Solutions Corp., New Term Loan B, 3.490%, 07/02/21(a)(b)

     9,286,569        9,293,162  

UFC Holdings LLC, 2nd Lien Term Loan, 8.500%, 08/18/24(a)(b)

     2,085,000        2,121,488  

William Morris Endeavor Entertainment LLC, 1st Lien Term Loan, 4.250%-4.290%,
05/06/21(a)(b)(e)

     44,602,949        44,762,181  
 

 

See Notes to Financial Statements.

 

47

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Diversified Media—continued

 

William Morris Endeavor Entertainment LLC, 2nd Lien Term Loan, 8.290%, 05/06/22(a)(b)

     16,942,782        17,112,210  
    

 

 

  
       345,562,675  
    

 

 

  

Energy 5.9%

 

Alon USA Energy, Inc., Master Limited Partnership Term Loan, 9.250%, 11/26/18(a)(b)

     17,606,879        17,606,879  

Azure Midstream Energy LLC, Term Loan B, 7.500%, 11/15/18(a)(b)

     9,739,847        9,220,421  

Blackhawk Mining LLC, 2017 Term Loan, 10.650%, 02/14/22(a)(b)(d)

     17,280,000        16,761,600  

California Resources Corp., Second Out Term Loan, 11.375%,
12/31/21(a)(b)(d)

     8,790,000        9,698,271  

Chesapeake Energy Corp., Term Loan, 8.553%, 08/23/21(a)(b)

     19,355,000        20,588,881  

Chief Exploration & Development LLC, 2nd Lien Term Loan, 7.932%, 05/16/21(a)(b)(d)

     16,930,000        16,464,425  

CITGO Holding, Inc., 2015 Term Loan B, 9.647%, 05/12/18(a)(b)(e)

     38,830,352        39,380,578  

Crestwood Holdings LLC, Term Loan B1, 9.042%, 06/19/19(a)(b)

     11,084,621        11,075,420  

EMG Utica LLC, Term Loan, 4.897%, 03/27/20(a)(b)

     23,376,835        23,435,277  

Energy Transfer Equity L.P., 2017 Term Loan B, 3.539%,
02/02/24(a)(b)(d)

     86,605,000        86,320,936  

FTS International, Inc., New Term Loan B, 5.750%, 04/16/21(a)(b)(d)

     26,971,455        23,403,401  

Gavilan Resources LLC, 2nd Lien Term Loan, 7.000%, 03/01/24(a)(b)

     15,190,000        15,000,125  

Hi-Crush Partners L.P., Term Loan B, 4.897%, 04/28/21(a)(b)

     6,836,450        6,554,446  

KCA Deutag U.S. Finance LLC, Term Loan, 6.807%, 05/15/20(a)(b)(d)

     13,583,328        12,921,141  
     Shares or
Principal
Amount($)		      Value($)  

Energy—continued

 

MEG Energy Corp., 2017 Term Loan B, 4.540%, 12/31/23(a)(b)

     8,520,000        8,515,229  

Philadelphia Energy Solutions LLC, Term Loan B, 6.250%,
04/04/18(a)(b)

     11,826,834        10,723,035  

Pinnacle Holdco S.A.R.L., Term Loan, 4.750%,
07/30/19(a)(b)

     3,235,692        2,620,910  

Sheridan Investment Partners II L.P., Term Loan B, 4.560%,
12/16/20(a)(d)

     6,177,803        5,065,798  

Sheridan Investment Partners II L.P., Term Loan A, 4.560%,
12/16/20(a)(d)

     859,377        704,689  

Sheridan Investment Partners II L.P., Term Loan M, 4.560%,
12/16/20(a)(d)

     320,501        262,810  

Western Refining, Inc., Term Loan B, 5.250%, 11/12/20(a)(b)

     7,845,558        7,845,558  

Western Refining, Inc., Term Loan B2, 5.500%, 06/23/23(a)(b)

     5,491,532        5,491,532  
    

 

 

  
       349,661,362  
    

 

 

  

Financial 5.0%

 

Altisource Solutions S.A.R.L., Term Loan B, 4.500%, 12/09/20(a)(b)

     5,219,147        5,036,477  

AmWINS Group, Inc., 2017 Term Loan B, 3.750%-5.750%,
01/25/24(a)(b)

     1,995,000        1,995,000  

AmWINS Group, Inc., 2017 2nd Lien Term Loan, 7.750%, 01/25/25(a)(b)

     1,000,000        1,018,330  

Aretec Group, Inc., 2nd Lien Term Loan, 2.000%-4.500%,
05/23/21(a)(b)

     19,348,583        18,381,154  

Aretec Group, Inc., Exit Term Loan, 8.000%, 11/23/20(a)(b)

     2,070,606        2,086,136  

Asurion LLC, 2016 Term Loan B2, 4.232%, 07/08/20(a)(b)(e)

     36,371,271        36,568,403  

Asurion LLC, New Term Loan B4, 4.250%, 08/04/22(a)(b)(e)

     44,032,545        44,219,683  
 

 

See Notes to Financial Statements.

 

48

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Financial—continued

 

Asurion LLC, New 2nd Lien Term Loan, 8.500%, 03/03/21(a)(b)(e)

     54,556,489        55,170,250  

Avolon TLB Borrower 1 (Luxembourg) S.A.R.L., Term Loan B2, 3.728%, 03/20/22(a)(b)(d)

     27,270,000        27,622,328  

EVO Payments International LLC, 1st Lien Term Loan, 6.000%,
12/22/23(a)(b)

     6,775,000        6,828,658  

EVO Payments International LLC, 2nd Lien Term Loan, 10.000%, 11/15/24(a)(b)

     1,280,000        1,280,000  

Freedom Mortgage Corp., 1st Lien Term Loan, 6.862%, 02/26/22(a)(b)

     5,800,000        5,879,750  

Istar, Inc., 2016 Term Loan B, 4.750%, 07/01/20(a)(b)

     17,800,624        17,956,379  

Lonestar Intermediate Super Holdings LLC, PIK Term Loan B, 10.000%, 08/31/21(a)(b)

     13,965,000        14,506,144  

LPL Holdings, Inc., 2017 Term Loan B, 3.609%-3.921%, 03/10/24(a)(b)

     3,440,000        3,442,167  

Ocwen Financial Corp., 2016 Term Loan B, 6.000%, 12/05/20(a)(b)

     13,267,063        13,358,340  

Russell Investment Group, Term Loan B, 6.750%, 06/01/23(a)(b)

     9,046,962        9,143,131  

Victory Capital Management, Inc., Term Loan B, 8.647%,
10/31/21(a)(b)

     10,807,563        10,906,668  

Walter Investment Management Corp., 2013 Term Loan, 4.750%, 12/18/20(a)(b)

     23,637,426        20,336,696  
    

 

 

  
       295,735,694  
    

 

 

  

Food and Drug 2.1%

 

1011778 B.C. Unlimited Liability Co., Term Loan B3, 3.250%-3.397%, 02/16/24(a)(b)(d)

     37,483,191        37,498,934  

Albertsons LLC, USD 2016 Term Loan B4, 3.982%, 08/22/21(a)(b)

     8,020,397        8,053,200  
     Shares or
Principal
Amount($)		      Value($)  

Food and Drug—continued

 

Albertsons LLC, USD 2016 Term Loan B6, 4.302%, 06/22/23(a)(b)

     18,433,069        18,525,234  

Amplify Snack Brands, Inc., Term Loan, 6.500%, 08/24/23(a)(b)

     12,121,669        11,742,866  

ASP MSG Acquisition Co., Inc., 2017 Term Loan B, 5.147%,
08/16/23(a)(b)

     10,522,125        10,601,041  

JBS USA LLC, 2017 Term Loan B, 3.289%, 10/30/22(a)(b)

     20,350,000        20,413,696  

Landry’s, Inc., 2016 Term Loan B, 4.039%-4.230%, 10/04/23(a)(b)

     3,274,200        3,298,167  

NPC International, Inc., 1st Lien Term Loan, 03/17/24(b)(c)(d)

     3,545,000        3,572,686  

NPC International, Inc., 2nd Lien Term Loan, 03/17/25(b)(c)(d)

     1,265,000        1,274,488  

U.S. Foods, Inc., 2016 Term Loan B, 3.732%, 06/27/23(a)(b)

     12,103,538        12,207,507  
    

 

 

  
       127,187,819  
    

 

 

  

Forest Products/Containers 1.9%

 

Anchor Glass Container Corp., 2016 1st Lien Term Loan, 4.250%, 12/07/23(a)(b)

     6,683,250        6,720,877  

Anchor Glass Container Corp., 2016 2nd Lien Term Loan, 8.750%, 12/07/24(a)(b)

     850,000        864,875  

Berry Plastics Group, Inc., Term Loan K, 3.108%, 02/08/20(a)(b)

     8,515,000        8,561,577  

Berry Plastics Group, Inc., Term Loan I, 3.482%-3.524%, 10/01/22(a)(b)

     3,489,665        3,510,009  

Berry Plastics Group, Inc., Term Loan J, 3.524%, 01/19/24(a)(b)

     4,310,000        4,335,731  

BWAY Corp., Bridge Term Loan, 03/02/18(b)(c)(d)

     10,000,000        10,000,000  

BWAY Holding Co., 2017 Term
Loan B, 03/22/24(b)(c)(d)

     19,020,000        18,960,658  
 

 

See Notes to Financial Statements.

 

49

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Forest Products/Containers—continued

 

Caraustar Industries, Inc., 2017 Term Loan B, 6.647%, 03/14/22(a)(b)

     12,475,000        12,568,562  

Mauser U.S. Corporate LLC, USD 1st Lien Term Loan, 4.500%,
07/31/21(a)(b)

     2,977,099        2,980,076  

Mauser U.S. Corporate LLC, USD 2nd Lien Term Loan, 8.750%,
07/31/22(a)(b)

     9,260,000        9,265,834  

Proampac PG Borrower LLC, 2016 1st Lien Term Loan, 5.057%-7.000%, 11/18/23(a)(b)

     9,366,525        9,432,091  

Reynolds Group Holdings, Inc., USD 2017 Term Loan, 3.982%,
02/05/23(a)(b)

     10,895,318        10,932,798  

Signode Industrial Group U.S., Inc., USD Term Loan B, 4.000%-4.147%, 05/01/21(a)(b)

     17,424,981        17,446,762  
    

 

 

  
       115,579,850  
    

 

 

  

Gaming/Leisure 8.8%

 

Amaya Holdings B.V., Repriced Term Loan B, 4.647%, 08/01/21(a)(b)(d)

     15,933,301        15,959,910  

Belmond Interfin Ltd., USD Term Loan B, 4.147%, 03/21/21(a)(b)

     9,586,552        9,592,592  

Boyd Gaming Corp., 2017 Term Loan B2, 03/06/24(b)(c)(d)

     6,445,000        6,476,194  

Caesars Entertainment Operating Co., Term Loan B5 (Non RSA),
10/31/17(b)(c)(d)

     27,514,861        31,126,187  

Caesars Entertainment Operating Co., Extended Term Loan B6,
03/01/22(b)(c)(d)

     64,549,680        74,603,293  

Caesars Entertainment Operating Co., Term Loan B7 (Non RSA),
03/01/22(b)(c)(d)

     20,230,000        24,593,813  

Caesars Entertainment Resort Properties LLC, Term Loan B, 7.000%, 10/11/20(a)(b)

     45,472,719        45,671,889  

Casablanca U.S. Holdings, Inc., 1st Lien Term Loan, 03/15/24(b)(c)(d)

     6,415,000        6,382,925  
     Shares or
Principal
Amount($)		      Value($)  

Gaming/Leisure—continued

 

Diamond Resorts Corp., 2016 Term Loan B, 7.000%, 08/11/23(a)(b)

     28,092,279        28,285,554  

Eldorado Resorts LLC, 2017 Term Loan B, 03/13/24(b)(c)(d)

     11,870,000        11,840,325  

Equinox Holdings, Inc., 2017 2nd Lien Term Loan, 8.000%, 03/03/25(a)(b)

     1,710,000        1,732,093  

ESH Hospitality, Inc., 2017 Term Loan B, 3.482%, 08/30/23(a)(b)(d)

     15,678,979        15,749,535  

Four Seasons Holdings, Inc., New 1st Lien Term Loan, 4.147%,
11/30/23(a)(b)

     12,508,650        12,633,737  

Gateway Casinos & Entertainment Ltd., Term Loan B1, 4.800%, 02/22/23(a)(b)

     2,565,000        2,590,650  

Global Cash Access, Inc., New Term Loan B, 6.304%, 12/18/20(a)(b)

     12,227,472        12,349,747  

GLP Financing LLC, Incremental Term Loan A, 2.580%,
04/29/21(a)(b)

     50,066,294        49,503,048  

Greektown Holdings LLC, 2017 Term Loan B, 03/21/24(b)(c)(d)

     11,115,000        11,108,109  

Hilton Worldwide Finance LLC, Term Loan B2, 2.928%-2.982%,
10/25/23(a)(b)(d)(e)

     81,418,555        82,039,779  

La Quinta Intermediate Holdings LLC, Term Loan B,
3.772%,
04/14/21(a)(b)

     11,390,120        11,449,463  

Las Vegas Sands LLC, 2017 Term Loan B, 2.980%, 12/19/20(a)(b)(d)

     4,135,971        4,137,129  

MGM Growth Prop. Operating Partnership L.P., 2016 Term Loan B, 3.482%,
04/25/23(a)(b)

     11,118,857        11,165,222  

MGM Resorts International, 2016 Term Loan A, 3.232%, 04/25/21(a)(b)

     8,110,667        8,110,667  

Mohegan Tribal Gaming Authority, 2016 Term Loan B, 5.500%,
09/28/23(a)(b)(d)

     14,812,185        14,827,589  
 

 

See Notes to Financial Statements.

 

50

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Gaming/Leisure—continued

 

Penn National Gaming, Inc., 2017 Term Loan B, 3.524%,
01/19/24(a)(b)

     2,585,000        2,598,571  

Playa Resorts Holding B.V., Term Loan B, 4.040%, 08/09/19(a)(b)

     5,997,475        6,001,253  

Scientific Games International, Inc., 2017 Term Loan B3, 4.846%-4.943%, 10/01/21(a)(b)

     14,783,305        14,965,731  

Station Casinos LLC, 2016 Term Loan B, 3.450%, 06/08/23(a)(b)

     2,461,400        2,462,015  

UFC Holdings LLC, 1st Lien Term Loan, 4.250%, 08/18/23(a)(b)

     4,989,925        5,012,180  

Wynn America LLC, Delayed Draw Term Loan, 11/19/20(b)(c)

     4,235,000        4,201,459  
    

 

 

  
       527,170,659  
    

 

 

  

Healthcare 8.4%

 

Albany Molecular Research, Inc., Term Loan B, 6.006%,
07/16/21(a)(b)

     4,982,065        5,013,203  

Ardent Legacy Acquisitions, Inc., 2015 Term Loan B, 6.647%,
08/04/21(a)(b)

     13,375,294        13,341,856  

CDRH Parent, Inc., New 1st Lien Term Loan, 5.320%, 07/01/21(a)(b)

     3,563,694        3,313,345  

Change Healthcare Holdings, Inc., 2017 Term Loan B, 3.750%, 03/01/24(a)(b)(d)

     56,760,000        56,830,950  

Community Health Systems, Inc., New Term Loan A, 3.482%-3.554%, 01/22/19(a)(b)

     7,124,962        7,109,359  

Community Health Systems, Inc., Term Loan G, 3.750%-3.804%, 12/31/19(a)(b)

     40,098,787        39,820,902  

Community Health Systems, Inc., Term Loan H, 4.000%-4.054%, 01/27/21(a)(b)(d)

     51,557,321        50,822,629  

Convatec, Inc., USD 2016 Term Loan B, 3.482%, 10/31/23(a)(b)

     2,920,000        2,936,440  
     Shares or
Principal
Amount($)		      Value($)  

Healthcare—continued

 

CPI Holdco LLC, 2017 1st Lien Term Loan, 03/15/24(b)(c)(d)

     3,165,000        3,180,825  

Endo Luxembourg Finance Co. I S.A.R.L., 2015 Term Loan B, 4.000%, 09/26/22(a)(b)

     10,383,526        10,367,639  

Explorer Holdings, Inc., 2016 Term Loan B, 6.035%, 05/02/23(a)(b)

     4,153,613        4,195,149  

Greatbatch Ltd., 2017 Term Loan B, 4.500%, 10/27/22(a)(b)

     18,139,034        18,116,360  

Grifols Worldwide Operations USA, Inc., 2017 Acquisition Term Loan, 3.194%, 01/31/25(a)(b)

     35,075,000        35,119,545  

Halyard Health, Inc., Term Loan B, 3.732%, 11/01/21(a)(b)

     7,910,000        7,974,308  

HCA, Inc., Term Loan B8, 3.232%, 02/15/24(a)(b)

     26,505,792        26,718,898  

Iasis Healthcare LLC, Term Loan B2, 4.500%, 05/03/18(a)(b)

     19,466,063        19,453,994  

Indivior Finance S.A.R.L., USD Term Loan B, 7.040%, 12/19/19(a)(b)

     20,277,254        20,378,641  

inVentiv Health, Inc., 2016 Term Loan B, 4.804%, 11/09/23(a)(b)

     4,104,713        4,113,250  

Kindred Healthcare, Inc., New Term Loan, 4.563%, 04/09/21(a)(b)

     6,149,779        6,147,196  

Kinetic Concepts, Inc., 2017 USD Term Loan B, 4.397%,
02/02/24(a)(b)

     10,350,000        10,350,000  

Lannett Co., Inc., Term Loan A, 5.750%, 11/25/20(a)(b)

     27,436,911        27,025,357  

Lannett Co., Inc., Term Loan B, 6.375%, 11/25/22(a)(b)

     1,894,359        1,883,712  

Mallinckrodt International Finance S.A., USD Term Loan B, 3.897%, 09/24/24(a)(b)(d)

     9,171,112        9,159,648  

MPH Acquisition Holdings LLC, 2016 Term Loan B, 4.897%,
06/07/23(a)(b)(d)

     18,762,922        18,990,704  
 

 

See Notes to Financial Statements.

 

51

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Healthcare—continued

 

Quintiles IMS, Inc., 2017 USD Term Loan B, 2.834%-3.102%,
03/01/24(a)(b)

     4,241,082        4,273,951  

Quorum Health Corp., Term Loan B, 6.789%, 04/29/22(a)(b)

     3,857,142        3,761,408  

RPI Finance Trust, Delayed Draw Term Loan B6, 03/07/23(b)(c)(d)

     631,790        633,104  

RPI Finance Trust, Term Loan B6, 3.153%, 03/07/23(a)(b)

     18,595,000        18,633,677  

RPI Finance Trust, Term Loan B5, 3.647%, 10/14/22(a)(b)(d)

     11,996,747        12,017,741  

Team Health Holdings, Inc., 1st Lien Term Loan, 3.750%, 02/06/24(a)(b)

     6,795,000        6,741,184  

Valeant Pharmaceuticals International, Inc., Term Loan B F1, 5.570%, 04/01/22(a)(b)(d)

     48,879,670        48,987,694  
    

 

 

  
       497,412,669  
    

 

 

  

Housing 2.2%

 

American Builders & Contractors Supply Co., Inc., Term Loan B, 3.732%, 10/31/23(a)(b)

     12,865,000        12,887,128  

Capital Automotive L.P., 2017 1st Lien Term Loan, 4.000%, 03/17/24(a)(b)

     19,415,000        19,609,150  

Capital Automotive L.P., 2017 2nd Lien Term Loan, 7.000%,
03/17/25(a)(b)(d)

     39,230,000        39,622,300  

DTZ U.S. Borrower LLC, 2015 1st Lien Term Loan, 4.289%-4.397%, 11/04/21(a)(b)(e)

     46,198,661        46,437,046  

DTZ U.S. Borrower LLC, 2nd Lien Term Loan, 9.289%, 11/04/22(a)(b)

     1,017,216        1,013,829  

Quikrete Holdings, Inc., 2016 1st Lien Term Loan, 4.232%, 11/15/23(a)(b)

     4,778,025        4,817,253  

Realogy Corp., 2017 Term Loan B, 3.232%, 07/20/22(a)(b)

     8,401,618        8,480,425  
    

 

 

  
       132,867,131  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Information Technology 8.7%

 

Abacus Innovations Corp., Term Loan B, 3.250%, 08/16/23(a)(b)

     6,329,138        6,381,353  

Aricent Technologies, 1st Lien Term Loan, 5.500%, 04/14/21(a)(b)

     6,264,699        6,266,015  

Arris Group, Inc., 2015 Term Loan A, 2.732%, 06/18/20(a)(b)

     3,252,244        3,200,761  

Arris Group, Inc., 2015 Term Loan B, 3.732%, 04/17/20(a)(b)

     11,595,008        11,658,780  

Avaya, Inc., Term Loan B7, 6.282%, 05/29/20(a)(b)(f)

     42,615,788        33,992,910  

Avaya, Inc., Term Loan B6, 6.532%, 03/30/18(a)(b)(f)

     9,557,913        7,591,372  

Avaya, Inc., DIP Term Loan, 8.500%, 01/24/18(a)(b)

     17,343,698        17,820,650  

Blackboard, Inc., Term Loan B4, 6.023%, 06/30/21(a)(b)

     8,239,856        8,198,657  

Cavium, Inc., 2017 Term Loan B, 3.228%, 08/16/22(a)(b)

     5,781,389        5,803,069  

CCC Information Services, Inc., 2017 1st Lien Term Loan,
03/29/24(b)(c)(d)

     2,500,000        2,509,375  

CCC Information Services, Inc., 2017 2nd Lien Term Loan,
03/29/25(b)(c)(d)

     845,000        848,524  

Cologix, Inc., 2017 1st Lien Term Loan, 03/20/24(b)(c)(d)

     2,637,500        2,638,318  

Cologix, Inc., 2017 2nd Lien Term Loan, 03/20/25(b)(c)(d)

     800,000        796,504  

Cologix, Inc., 2017 Delayed Draw Term Loan, 11/08/21(b)(c)(d)

     527,500        526,514  

CompuCom Systems, Inc., Refinance Term Loan B, 4.250%,
05/09/20(a)(b)

     3,771,522        3,130,363  

Computer Sciences Government Services, Inc., Term Loan B, 3.482%, 11/30/23(a)(b)

     8,139,387        8,205,560  

Compuware Corp., Term Loan B3, 5.250%, 12/15/21(a)(b)

     4,216,625        4,222,950  
 

 

See Notes to Financial Statements.

 

52

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Information Technology—continued

 

Cortes NP Acquisition Corp., 2017 Term Loan B, 5.000%-5.039%, 11/30/23(a)(b)

     12,013,653        12,126,341  

Cypress Semiconductor Corp., 2016 Term Loan B, 4.580%,
07/05/21(a)(b)

     6,439,875        6,493,519  

Dell, Inc., Term Loan A3, 2.990%, 12/31/18(a)(b)

     12,760,000        12,763,956  

Dell, Inc., Term Loan A2, 3.240%, 09/07/21(a)(b)(d)(e)

     52,141,625        52,102,519  

Dell, Inc., 2017 Term Loan B, 3.490%, 09/07/23(a)(b)

     42,836,513        42,979,158  

EIG Investors Corp., 2016 Term Loan, 6.042%, 02/09/23(a)(b)

     6,776,005        6,821,201  

Epicor Software Corp., 2016 Term Loan, 5.000%, 06/01/22(a)(b)

     1,922,103        1,925,313  

GlobalLogic Holdings, Inc., 2016 Term Loan B, 5.652%, 06/13/22(a)(b)

     4,640,000        4,651,600  

Imagine! Print Solutions, Inc., Term Loan B, 7.147%, 03/30/22(a)(b)

     3,725,452        3,753,393  

Inovalon Holdings, Inc., Term Loan, 2.232%, 09/19/19(a)(b)

     30,224,559        29,620,068  

Internap Corp., Term Loan, 7.000%, 11/26/19(a)(b)

     6,618,934        6,618,934  

iParadigms Holdings LLC, 1st Lien Term Loan, 5.147%, 07/31/21(a)(b)

     1,531,148        1,519,664  

IPC Corp., 2015 Term Loan B, 5.500%, 08/06/21(a)(b)(d)

     9,202,545        8,558,367  

LANDesk Group, Inc., 2017 Term Loan B, 5.250%, 01/20/24(a)(b)

     7,235,000        7,266,689  

Lionbridge Technologies, Inc., 1st Lien Term Loan, 6.554%,
02/03/24(a)(b)

     3,405,000        3,396,487  

Optiv Security, Inc., 1st Lien Term Loan, 4.250%, 02/01/24(a)(b)

     8,515,000        8,552,296  

Optiv Security, Inc., 2nd Lien Term Loan, 8.250%, 02/01/25(a)(b)

     1,725,000        1,750,875  

Presidio, Inc., 2017 Term Loan B, 4.250%, 02/02/22(a)(b)

     12,067,583        12,180,777  
     Shares or
Principal
Amount($)		      Value($)  

Information Technology—continued

 

Quest Software U.S. Holdings, Inc., Term Loan B, 7.000%,
10/31/22(a)(b)

     2,463,200        2,495,837  

Rackspace Hosting, Inc., 1st Lien Term Loan, 4.535%, 11/03/23(a)(b)

     7,072,275        7,115,487  

RP Crown Parent LLC, 2016 Term Loan B, 4.500%, 10/12/23(a)(b)

     2,897,738        2,914,052  

Salient CRGT, Inc., 2017 Term Loan, 6.750%, 02/25/22(a)(b)

     5,150,000        5,059,875  

Semiconductor Components Industries LLC, Term Loan A, 2.748%, 01/02/18(a)(b)

     23,293,738        23,264,621  

Sirius Computer Solutions, Inc., 2016 Term Loan, 5.250%, 10/30/22(a)(b)

     4,967,953        5,009,882  

SolarWinds Holdings, Inc., 2017 Term Loan, 4.500%, 02/05/23(a)(b)

     2,977,538        2,976,049  

Solera LLC, USD Term Loan B, 4.250%, 03/03/23(a)(b)

     17,826,103        17,895,446  

Sophia L.P., 2017 Term Loan B, 4.397%, 09/30/22(a)(b)

     2,512,597        2,510,235  

Southern Graphics, Inc., New Term Loan B, 4.250%-4.397%,
10/17/19(a)(b)

     6,629,055        6,662,200  

SS&C Technologies, Inc., 2017 Term Loan B1, 3.232%, 07/08/22(a)(b)

     3,216,753        3,230,843  

SS&C Technologies, Inc., 2017 Term Loan B2, 3.232%, 07/08/22(a)(b)

     274,982        276,187  

Symantec Corp., Term Loan A3, 2.330%, 08/01/19(a)(b)

     16,739,077        16,571,686  

Symantec Corp., Term Loan A2, 2.375%, 07/28/19(a)(b)

     6,956,308        6,904,136  

Synchronoss Technologies, Inc., Term Loan, 4.082%, 01/19/24(a)(b)

     4,250,000        4,222,375  

Tempo Acquisition LLC, Bridge Term Loan, 08/16/17(b)(c)(d)

     20,000,000        20,000,000  
 

 

See Notes to Financial Statements.

 

53

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Information Technology—continued

 

TTM Technologies, Inc., 1st Lien Term Loan, 5.250%, 05/31/21(a)(b)

     9,612,808        9,757,000  

VF Holding Corp., Reprice Term Loan, 4.250%, 06/30/23(a)(b)

     12,328,050        12,378,718  

Western Digital Corp., USD Term Loan A, 2.982%, 04/29/21(a)(b)

     3,000,000        3,008,430  

Western Digital Corp., 2017 USD Term Loan B, 3.732%,
04/29/23(a)(b)

     10,044,227        10,093,041  

Xerox Business Services LLC, USD Term Loan B, 6.334%,
12/07/23(a)(b)

     8,523,638        8,611,005  
    

 

 

  
       517,829,937  
    

 

 

  

Manufacturing 2.3%

 

Alpha 3 B.V., 2017 Term Loan B1, 4.147%, 01/31/24(a)(b)

     4,260,000        4,268,009  

American Axle and Manufacturing, Inc., Bridge Term Loan, 01/18/18(b)(c)(d)

     25,000,000        25,000,000  

Columbus McKinnon Corp., Term Loan B, 4.147%, 01/31/24(a)(b)

     4,145,197        4,178,897  

Dynacast International LLC, Term Loan B, 4.500%, 01/28/22(a)(b)(d)

     8,641,246        8,657,492  

Flex Acquisition Co., Inc., 1st Lien Term Loan, 4.250%, 12/29/23(a)(b)

     2,480,000        2,493,169  

Gates Global LLC, 2017 USD Term Loan B, 03/17/24(b)(c)(d)

     244,772        244,956  

Gates Global, LLC, Term Loan B, 4.397%, 07/06/21(a)(b)

     19,686,593        19,701,358  

Keurig Green Mountain, Inc., USD Term Loan A, 2.750%,
03/03/21(a)(b)

     27,100,860        27,066,984  

LTI Holdings, Inc., 2nd Lien Term Loan, 10.397%, 04/16/23(a)(b)

     1,545,000        1,467,750  

Lumileds Holding B.V., Term Loan B, 02/27/24(b)(c)(d)

     9,490,000        9,545,326  

Milacron LLC, Amended Term Loan B, 3.982%, 09/28/23(a)(b)

     3,526,163        3,541,607  
     Shares or
Principal
Amount($)		      Value($)  

Manufacturing—continued

 

Otter Products LLC, 2014 Term Loan, 5.750%, 06/03/20(a)(b)

     15,163,096        14,948,235  

Safway Group Holding LLC, Term Loan B, 5.750%, 08/19/23(a)(b)

     7,801,289        7,881,720  

Unifrax Corp., 2017 USD Term Loan B, 03/29/24(b)(c)(d)

     6,260,000        6,291,300  
    

 

 

  
       135,286,803  
    

 

 

  

Metals/Minerals 1.6%

 

Arch Coal, Inc., 2017 Term Loan B, 5.000%, 03/07/24(a)(b)

     7,205,000        7,189,221  

Atkore International, Inc., 2016 1st Lien Term Loan, 4.150%,
12/22/23(a)(b)

     17,620,838        17,725,505  

Atlas Iron Ltd., Capex Term Loan B, 8.580%, 05/06/21(a)(b)(g)

     2,798,498        2,627,090  

Contura Energy, Inc., 2017 Term Loan, 6.000%, 03/18/24(a)(b)

     6,335,000        6,255,813  

Fairmount Santrol, Inc., New Term Loan B2, 4.647%, 09/05/19(a)(b)

     6,049,478        5,917,176  

FMG Resources (August 2006) Pty Ltd., New Term Loan B, 3.750%, 06/30/19(a)(b)(e)

     20,329,193        20,434,091  

Foresight Energy LLC, 2017 1st Lien Term Loan, 03/10/24(b)(c)(d)

     9,495,000        9,233,888  

Global Brass & Copper, Inc., 2016 Term Loan B, 5.250%,
07/18/23(a)(b)

     3,726,275        3,777,511  

Peabody Energy Corp., Exit Term Loan, 01/30/22(b)(c)(d)

     4,255,000        4,249,681  

U.S. Silica Co., New Term Loan B, 4.188%, 07/23/20(a)(b)

     2,421,653        2,413,323  

U.S. Silica Co., Incremental Term Loan, 4.688%, 07/23/20(a)(b)

     6,812,577        6,804,061  

Zekelman Industries, Inc., Term Loan B, 4.906%, 06/14/21(a)(b)

     7,376,329        7,477,753  
    

 

 

  
       94,105,113  
    

 

 

  
 

 

See Notes to Financial Statements.

 

54

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Retail 4.7%

 

Abercrombie & Fitch Management Co., Term Loan B, 4.750%, 08/07/21(a)(b)

     3,000,000        2,880,000  

Ascena Retail Group, Inc., 2015 Term Loan B, 5.500%, 08/21/22(a)(b)(d)

     12,305,803        11,035,721  

Bass Pro Group LLC, Term Loan B, 6.147%, 12/16/23(a)(b)

     13,245,000        12,740,101  

Belk, Inc., Term Loan, 5.760%, 12/12/22(a)(b)

     8,226,393        6,927,774  

CWGS Group LLC, 2016 Term Loan, 4.604%-4.732%, 11/08/23(a)(b)(d)

     14,393,925        14,447,902  

Dollar Tree, Inc., Term Loan B2, 4.250%, 07/06/22(a)(b)(e)

     42,790,259        43,111,185  

Harbor Freight Tools USA, Inc., 2016 Term Loan B, 4.232%,
08/19/23(a)(b)

     4,205,200        4,195,991  

Hudson’s Bay Co., 2015 Term Loan B, 4.250%, 09/30/22(a)(b)(d)

     25,870,230        24,757,810  

J. Crew Group, Inc., Term Loan B, 4.000%, 03/05/21(a)(b)

     27,177,471        16,467,102  

J.C. Penney Corp., Inc., 2016 Term Loan B, 5.304%,
06/23/23(a)(b)(d)(e)

     27,632,575        27,411,514  

Kate Spade & Co., Term Loan B, 4.000%, 04/10/21(a)(b)

     6,474,000        6,457,815  

Men’s Wearhouse, Inc. (The), Term Loan B, 4.500%-4.563%,
06/18/21(a)(b)

     5,378,860        5,100,934  

Men’s Wearhouse, Inc. (The), 2015 Term Loan, 5.000%,
06/18/21(a)(b)

     8,333,050        7,833,067  

Neiman Marcus Group Ltd. LLC, 2020 Term Loan, 4.250%,
10/25/20(a)(b)(d)

     8,606,393        6,903,532  

Sears Holding Corp., Incremental Term Loan, 8.500%, 07/20/20(a)(b)

     5,547,945        5,596,490  

Sears Roebuck Acceptance Corp., 2015 Term Loan, 5.500%,
06/30/18(a)(b)(e)

     28,680,961        28,295,489  
     Shares or
Principal
Amount($)		      Value($)  

Retail—continued

 

Toys ‘R’ Us Property Co. I LLC, New Term Loan B, 6.000%,
08/21/19(a)(b)

     33,064,710        31,576,798  

Toys ‘R’ Us-Delaware, Inc., Term Loan B3, 5.250%, 05/25/18(a)(b)

     1,722,082        1,569,247  

Toys ‘R’ Us-Delaware, Inc., FILO Term Loan, 8.289%, 10/24/19(a)(b)

     3,404,464        3,391,697  

Toys ‘R’ Us-Delaware, Inc., FILO CAD Term Loan, 8.289%, 10/24/19(a)(b)

     2,745,536        2,735,240  

Toys ‘R’ Us-Delaware, Inc., Term Loan B4, 9.804%, 04/24/20(a)(b)

     19,792,081        15,696,308  
    

 

 

  
       279,131,717  
    

 

 

  

Service 5.6%

 

AlixPartners LLP, 2017 Term Loan B, 04/29/24(c)(d)

     6,360,000        6,391,800  

Casella Waste Systems, Inc., Term Loan B, 4.000%, 10/17/23(a)(b)

     1,705,725        1,714,254  

Coinstar LLC, 1st Lien Term Loan, 5.250%, 09/27/23(a)(b)

     3,716,325        3,746,056  

Coinstar LLC, 2nd Lien Term Loan, 9.750%, 09/27/24(a)(b)

     4,000,000        4,020,000  

DigitalGlobe, Inc., 2016 Term Loan B, 3.732%, 01/15/24(a)(b)

     4,199,475        4,212,619  

Evertec Group LLC, New Term Loan A, 3.097%, 04/17/18(a)(b)

     2,437,656        2,420,909  

First Data Corp., USD Term Loan A, 2.984%, 06/02/20(a)(b)

     29,625,000        29,620,556  

First Data Corp., 2016 USD Term Loan, 3.984%, 03/24/21(a)(b)(e)

     41,856,448        42,162,838  

First Data Corp., USD 2016 Repriced Term Loan, 3.984%,
07/10/22(a)(b)(e)

     42,539,077        42,849,187  

Gartner, Inc., 2016 Term Loan A, 06/17/21(b)(c)(d)

     5,940,000        5,962,275  

Gartner, Inc., Term Loan B,
03/14/24(b)(c)(d)

     5,545,000        5,586,587  

Geo Group, Inc. (The), 2017 Term Loan B, 03/17/24(b)(c)(d)

     3,165,000        3,178,863  
 

 

See Notes to Financial Statements.

 

55

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Service—continued

 

GFL Environmental, Inc., USD Term Loan B, 3.897%, 09/29/23(a)(b)

     4,129,250        4,142,175  

Hertz Corp., (The), 2016 Term Loan B, 3.732%, 06/30/23(a)(b)

     2,636,717        2,641,437  

IQOR U.S., Inc., Term Loan B, 6.000%, 04/01/21(a)(b)

     28,576,321        27,754,752  

Premiere Global Services, Inc., 1st Lien Term Loan, 12/08/21(b)(c)(d)

     2,385,000        2,372,073  

Prime Security Services Borrower LLC, 2016 1st Lien Term Loan, 4.250%, 05/02/22(a)(b)

     9,159,831        9,247,582  

Redbox Automated Retail LLC, Term Loan B, 8.500%, 09/27/21(a)(b)

     5,897,386        5,890,014  

Sedgwick Claims Management Services, Inc., 1st Lien Term Loan, 3.750%, 03/01/21(a)(b)

     24,444,512        24,406,378  

Sedgwick Claims Management Services, Inc., 2nd Lien Term Loan, 6.750%, 02/28/22(a)(b)

     10,175,000        10,149,562  

Sedgwick Claims Management Services, Inc., Incremental 2nd Lien Term Loan, 6.804%, 02/28/22(a)(b)

     3,440,000        3,431,400  

SGS Cayman L.P., 2014 Term Loan B, 6.000%, 04/23/21(a)(b)

     4,153,086        4,018,110  

Spin Holdco, Inc., New Term Loan B, 4.284%, 11/14/19(a)(b)

     3,459,175        3,457,307  

St. Georges University, 2016 Term Loan B, 6.274%-6.397%,
07/06/22(a)(b)

     2,651,182        2,681,008  

Sutherland Global Services, Inc., Term Loan B, 6.147%,
04/23/21(a)(b)

     17,843,396        17,263,486  

TKC Holdings, Inc., 2017 Term Loan, 4.750%, 02/01/23(a)(b)

     5,190,000        5,237,592  

TKC Holdings, Inc., 2017 2nd Lien Term Loan, 8.500%,
02/01/24(a)(b)(d)

     2,685,000        2,686,692  
     Shares or
Principal
Amount($)		      Value($)  

Service—continued

 

TransUnion LLC, Term Loan B2, 3.482%, 04/09/23(a)(b)

     6,478,306        6,514,779  

Travelport Finance (Luxembourg) S.A.R.L., 2017 Term Loan B, 4.289%, 09/02/21(a)(b)

     21,819,073        21,964,606  

USIC Holdings, Inc., 2016 1st Lien Term Loan, 5.170%, 12/08/23(a)(b)

     2,937,638        2,952,326  

Ventia Deco LLC, 2016 Term Loan B, 4.662%, 05/21/22(a)(b)(d)

     2,908,979        2,916,252  

Vivid Seats Ltd., Term Loan B, 6.750%, 10/07/22(a)(b)

     4,200,000        4,210,500  

Weight Watchers International, Inc., Term Loan B2, 4.070%-4.250%, 04/02/20(a)(b)(d)

     13,585,812        12,629,235  

Worldwide Express Operations LLC, 1st Lien Term Loan, 5.530%, 01/31/24(a)(b)

     2,290,000        2,299,549  
    

 

 

  
       330,732,759  
    

 

 

  

Telecommunications 4.0%

 

Altice U.S. Finance I Corp., 2017 USD Term Loan B, 06/21/25(b)(c)(d)

     9,500,000        9,500,000  

Colorado Buyer, Inc., Term Loan B, 03/28/24(b)(c)(d)

     3,165,000        3,180,825  

Colorado Buyer, Inc., 2nd Lien Term Loan, 03/28/25(b)(c)(d)

     2,400,000        2,409,000  

Communications Sales & Leasing, Inc., 2017 Term Loan B, 4.000%, 10/24/22(a)(b)

     3,333,016        3,320,517  

Coral-U.S. Co-Borrower LLC, Term Loan B1, 5.732%, 12/30/22(a)(b)

     7,595,000        7,648,773  

Go Daddy Operating Co. LLC, 2017 Term Loan B, 3.412%,
02/15/24(a)(b)

     3,656,592        3,659,809  

Hargray Communications Group, Inc., 2017 Term Loan B,
06/17/23(b)(c)(d)

     5,545,000        5,553,650  

Level 3 Financing, Inc., 2017 Term Loan B, 3.227%, 02/22/24(a)(b)

     78,145,000        78,242,681  
 

 

See Notes to Financial Statements.

 

56

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Telecommunications—continued

 

Ligado Networks LLC, PIK Exit Term Loan, 9.852%, 12/07/20(a)(b)

     8,195,000        8,002,418  

Ligado Networks LLC, 2015 2nd Lien Term Loan, 13.600%,
12/07/20(a)(b)

     10,358,504        8,112,055  

NeuStar, Inc., Term Loan B2,
02/28/24(b)(c)(d)

     6,975,000        7,053,469  

NeuStar, Inc., 2nd Lien Term Loan, 02/24/25(b)(c)(d)

     2,750,000        2,774,063  

Numericable Group S.A., USD Term Loan B11, 06/21/25(b)(c)(d)

     27,795,000        27,682,152  

Numericable U.S. LLC, USD Term Loan B10, 4.289%, 01/14/25(a)(b)

     18,229,313        18,229,313  

Numericable U.S. LLC, USD Term Loan B7, 5.289%, 01/15/24(a)(b)(e)

     26,618,850        26,637,749  

West Corp., 2016 Term Loan B12, 3.482%-3.647%, 06/17/23(a)(b)

     1,603,368        1,605,773  

West Corp., 2016 Term Loan B14, 3.482%, 06/17/21(a)(b)

     5,790,975        5,794,623  

Zayo Group LLC, 2017 Term Loan B2, 3.500%, 01/19/24(a)(b)

     21,535,000        21,609,726  
    

 

 

  
       241,016,596  
    

 

 

  

Transportation 2.5%

 

American Axle and Manufacturing, Inc., Term Loan B,
03/08/24(b)(c)(d)

     9,135,000        9,123,581  

CH Hold Corp., 1st Lien Term Loan, 4.000%, 02/01/24(a)(b)

     6,986,364        7,030,028  

CH Hold Corp., 2nd Lien Term Loan, 8.250%, 02/01/25(a)(b)

     1,000,000        1,012,500  

Commercial Barge Line Co., 2015 1st Lien Term Loan, 9.750%,
11/12/20(a)(b)

     8,293,500        7,588,553  

Daseke, Inc., 2017 1st Lien Term Loan, 6.500%, 02/02/24(a)(b)

     2,678,571        2,695,313  

Federal-Mogul Holdings Corp., New Term Loan C, 4.750%,
04/15/21(a)(b)(d)(e)

     35,210,546        35,070,408  
     Shares or
Principal
Amount($)		      Value($)  

Transportation—continued

 

HGIM Corp., Term Loan A, 5.387%-7.250%, 06/18/18(a)(b)(d)

     14,904,072        12,929,282  

HGIM Corp., Term Loan B, 5.637%-7.500%, 06/18/20(a)(b)(d)

     12,529,497        8,749,724  

K&N Engineering, Inc., 1st Lien Term Loan, 5.750%, 10/19/23(a)(b)

     2,488,763        2,494,984  

K&N Engineering, Inc., 2nd Lien Term Loan, 9.750%, 10/18/24(a)(b)

     1,710,000        1,688,625  

Kenan Advantage Group, Inc., 2015 Term Loan, 4.000%, 07/31/22(a)(b)

     1,580,991        1,581,481  

MPG Holdco I, Inc., 2015 Term Loan B, 3.750%, 10/20/21(a)(b)

     3,485,432        3,483,549  

Navios Maritime Midstream Partners L.P., Term Loan B, 5.660%,
06/18/20(a)(b)

     5,116,331        5,084,354  

Navios Maritime Partners L.P., 2017 Term Loan B, 6.130%,
09/04/20(a)(b)

     13,151,844        12,995,732  

Navistar International Corp., 2017 Term Loan B, 5.000%,
08/07/20(a)(b)

     8,945,000        9,034,450  

OSG Bulk Ships, Inc., OBS Term Loan, 5.290%, 08/05/19(a)(b)

     8,565,196        8,479,544  

Tower Automotive Holdings USA LLC, 2017 Term Loan B, 3.625%, 03/07/24(a)(b)

     14,390,423        14,327,537  

Wabash National Corp., 2017 Term Loan B, 3.740%-5.750%,
03/18/22(a)(b)

     7,671,299        7,703,288  
    

 

 

  
       151,072,933  
    

 

 

  

Utility 4.6%

 

APLP Holdings Ltd. Partnership, 2016 Term Loan B, 6.000%,
04/13/23(a)(b)

     4,436,797        4,464,527  

Aria Energy Operating LLC, Term Loan, 5.554%, 05/27/22(a)(b)(d)

     2,046,473        2,056,706  

Bronco Midstream Funding LLC, Term Loan B, 5.057%, 08/15/20(a)(b)

     20,668,581        20,720,253  
 

 

See Notes to Financial Statements.

 

57

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Utility—continued

 

Calpine Construction Finance Co. L.P., Original Term Loan B1, 3.232%, 05/03/20(a)(b)

     5,798,723        5,793,273  

Calpine Corp., 1st Lien Term Loan, 11/30/17(b)(c)(d)

     3,054,545        3,055,492  

Calpine Corp., Term Loan B8, 2.600%, 12/26/19(a)(b)

     2,130,000        2,125,570  

Calpine Corp., Term Loan B7, 3.900%, 05/31/23(a)(b)

     5,220,550        5,240,962  

Dynegy, Inc., 2017 Term Loan C, 4.250%, 06/27/23(a)(b)

     24,806,964        24,854,841  

EFS Cogen Holdings I LLC, 2016 Term Loan B, 4.650%,
06/28/23(a)(b)

     5,311,370        5,354,073  

Empire Generating Co. LLC, Term Loan C, 5.290%, 03/14/21(a)(b)(d)

     1,682,530        1,672,721  

Empire Generating Co. LLC, Term Loan B, 5.290%, 03/14/21(a)(b)(d)

     21,390,670        21,265,962  

Energy Future Intermediate Holding Co. LLC, 2016 DIP Term Loan, 06/30/17(b)(c)(d)(f)

     13,535,000        13,520,924  

Helix Gen Funding LLC, Term Loan B, 02/23/24(b)(c)(d)

     3,325,000        3,370,719  

Lonestar Generation LLC, Term Loan B, 5.304%, 02/22/21(a)(b)

     6,743,335        6,406,168  

Longview Power LLC, Term Loan B, 7.000%, 04/13/21(a)(b)

     4,503,800        3,775,670  

Middle River Power LLC, Term Loan B, 8.000%-8.147%,
09/29/22(a)(b)(d)

     17,858,922        17,747,303  

NRG Energy, Inc., 2016 Term Loan B, 3.232%, 06/30/23(a)(b)(e)

     43,714,663        43,868,538  

Power Team Services LLC, 1st Lien Term Loan, 4.397%, 05/06/20(a)(b)

     14,989,233        14,979,939  

Power Team Services LLC, 2nd Lien Term Loan, 8.397%, 11/06/20(a)(b)

     7,960,000        7,920,200  
     Shares or
Principal
Amount($)		      Value($)  

Utility—continued

 

Summit Midstream Holdings LLC, Term Loan B, 7.022%,
05/13/22(a)(b)

     16,620,000        16,910,850  

Talen Energy Supply LLC, Term Loan B, 6.060%, 12/06/23(a)(b)

     3,112,200        3,131,651  

TEX Operations Co. LLC, Exit Term Loan C, 3.732%, 08/04/23(a)(b)(d)

     5,131,286        5,118,458  

TEX Operations Co. LLC, Exit Term Loan B, 3.732%, 08/04/23(a)(b)(d)

     22,442,468        22,386,361  

TPF II Power LLC, Term Loan B, 5.000%, 10/02/21(a)(b)(d)

     10,756,627        10,791,586  

Vistra Operations Co. LLC, 2016 Term Loan B2, 4.193%,
12/14/23(a)(b)

     6,289,238        6,293,954  
    

 

 

  
       272,826,701  
    

 

 

  

Wireless Communications 1.2%

 

SBA Senior Finance II LLC, Term Loan B1, 3.240%, 03/24/21(a)(b)

     1,994,872        1,998,482  

Sprint Communications, Inc., 1st Lien Term Loan B, 3.500%,
02/02/24(a)(b)(d)

     68,885,000        68,836,092  
    

 

 

  
       70,834,574  
    

 

 

  

Total Bank Loans
(Cost $5,449,571,545)

        5,445,916,312  
    

 

 

  

Corporate Bonds 4.4%

 

Auto Manufacturers 0.0%(h)

 

Motors Liquidation Co. Escrow, 7.200% (f)(i)(j)

     10,000,000        —  

Motors Liquidation Co. Escrow, 8.375% (f)(i)(j)

     10,000,000        —  
    

 

 

  
       —  
    

 

 

  

Coal

 

Contura Energy, Inc., 10.000%, 08/01/21(b)

     5,000,000        5,390,500  
    

 

 

  

Commercial Services 0.1%

 

Laureate Education, Inc., 9.250%, 09/01/19(b)

     5,000,000        5,200,000  
    

 

 

  

Computers 0.3%

 

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 7.125%, 06/15/24(b)

     8,000,000        8,843,832  

Harland Clarke Holdings Corp., 9.250%, 03/01/21(b)

     5,330,000        5,190,087  
 

 

See Notes to Financial Statements.

 

58

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Computers—continued

 

Western Digital Corp., 10.500%, 04/01/24

     1,000,000        1,178,750  
    

 

 

  
       15,212,669  
    

 

 

  

Diversified Financial Services 0.5%

 

Alliance Data Systems Corp., 5.875%, 11/01/21(b)

     5,000,000        5,175,000  

Ally Financial, Inc., 7.500%, 09/15/20

     6,000,000        6,738,750  

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20

     5,517,000        5,720,439  

Navient Corp., 8.000%, 03/25/20, MTN

     10,000,000        10,862,500  

Walter Investment Management Corp., 7.875%, 12/15/21

     4,000,000        2,350,000  
    

 

 

  
       30,846,689  
    

 

 

  

Electric 0.1%

 

Dynegy, Inc., 6.750%, 11/01/19

     5,000,000        5,137,500  
    

 

 

  

Engineering & Construction 0.3%

 

Engility Corp., 8.875%, 09/01/24(b)

     15,000,000        15,881,250  
    

 

 

  

Entertainment 0.0%(h)

 

Lions Gate Entertainment Corp., 5.875%, 11/01/24(b)

     1,650,000        1,711,875  
    

 

 

  

Food 0.1%

 

U.S. Foods, Inc., 5.875%, 06/15/24(b)

     8,000,000        8,300,000  
    

 

 

  

Healthcare-Services 0.3%

 

CHS/Community Health Systems, Inc., 8.000%, 11/15/19

     14,000,000        13,737,500  

HCA Holdings, Inc., 6.250%, 02/15/21

     5,000,000        5,396,875  
    

 

 

  
       19,134,375  
    

 

 

  

Home Builders 0.1%

 

Mattamy Group Corp., 6.500%, 11/15/20(b)

     5,000,000        5,137,500  
    

 

 

  

Lodging 0.1%

 

MGM Resorts International, 7.750%, 03/15/22

     5,019,000        5,790,671  
    

 

 

  

Media 0.4%

 

CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 05/01/27(b)

     1,000,000        1,005,000  
     Shares or
Principal
Amount($)		      Value($)  

Media—continued

 

Cequel Communications Holdings I LLC/Cequel Capital Corp., 7.750%, 07/15/25(b)

     10,000,000        11,056,250  

CSC Holdings LLC, 10.125%, 01/15/23(b)

     2,000,000        2,320,000  

WideOpenWest Finance LLC/WideOpenWest Capital Corp., 10.250%, 07/15/19

     8,847,000        9,211,939  
    

 

 

  
       23,593,189  
    

 

 

  

Miscellaneous Manufacturer 0.1%

 

Bombardier, Inc., 7.750%, 03/15/20(b)

     7,000,000        7,472,500  
    

 

 

  

Oil & Gas 0.9%

 

Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.000%, 04/01/22(b)(d)

     1,000,000        1,035,000  

Chesapeake Energy Corp., 6.625%, 08/15/20

     5,073,000        5,066,659  

Chesapeake Energy Corp., 8.000%, 01/15/25(b)

     5,000,000        5,000,000  

Glenn Pool Oil & Gas Trust, 6.000%, 08/02/21(d)(i)

     44,814,583        44,142,364  
    

 

 

  
       55,244,023  
    

 

 

  

Packaging & Containers 0.1%

 

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu, 7.000%, 07/15/24(b)

     5,000,000        5,353,125  
    

 

 

  

Pharmaceuticals 0.1%

 

Valeant Pharmaceuticals International, Inc., 7.500%, 07/15/21(b)

     5,000,000        4,381,250  
    

 

 

  

Real Estate 0.1%

 

Realogy Group LLC/Realogy Co-Issuer Corp., 5.250%,
12/01/21(b)

     5,000,000        5,200,000  
    

 

 

  

Real Estate Investment Trust 0.4%

 

iStar, Inc., 5.000%, 07/01/19

     5,000,000        5,031,250  

iStar, Inc., 6.000%, 04/01/22

     10,000,000        10,150,000  

iStar, Inc., 6.500%, 07/01/21

     1,400,000        1,438,500  

iStar, Inc., 7.125%, 02/15/18

     500,000        517,500  
 

 

See Notes to Financial Statements.

 

59

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Real Estate Investment Trust—continued

 

Starwood Property Trust, Inc., 5.000%, 12/15/21(b)

     5,250,000        5,446,875  
    

 

 

  
       22,584,125  
    

 

 

  

Telecommunication Services 0.3%

 

Digicel Group Ltd., 8.250%, 09/30/20(b)

     5,000,000        4,297,000  

Intelsat Jackson Holdings S.A., 7.250%, 10/15/20

     4,625,000        4,214,531  

Trilogy International Partners LLC/Trilogy International Finance, Inc., 13.375%, 05/15/19

     12,245,000        12,398,063  
    

 

 

  
       20,909,594  
    

 

 

  

Total Corporate Bonds
(Cost $260,920,927)

        262,480,835  
    

 

 

  

Preferred Stock 0.0%(h)

 

Banks 0.0%(h)

 

GMAC Capital Trust I, Series 2, 6.824%(a)

     34,000        864,620  
    

 

 

  

Total Preferred Stock
(Cost $850,000)

        864,620  
    

 

 

  

Rights 0.0%(h)

 

Utility 0.0%(h)

 

Texas Competitive Electric Holdings Co. LLC*

     410,667        441,467  
    

 

 

  

Total Rights
(Cost $554,399)

        441,467  
    

 

 

  

Common Stocks 0.4%

 

Diversified Financial Services 0.0%(h)

 

Aretec Group, Inc.*(i)

     104,182        1,354,366  
    

 

 

  

Electric 0.1%

     

Vistra Energy Corp.

     410,667        6,693,872  
    

 

 

  

Oil & Gas 0.3%

 

Linn Energy, Inc.*

     140,363        4,070,527  

SandRidge Energy, Inc.*

     16,109        297,856  

Templar Energy LLC, Cl A*(i)

     1,378,328        10,165,170  
    

 

 

  
       14,533,553  
    

 

 

  

Telecommunication Services 0.0%(h)

 

NII Holding, Inc.*

     303,451        394,486  
    

 

 

  

Total Common Stocks
(Cost $67,093,123)

        22,976,277  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Fund 12.2%

 

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(j)

     730,190,606        730,190,606  
    

 

 

  

Total Money Market Fund
(Cost $730,190,606)

        730,190,606  
    

 

 

  

Unlisted Call Option Purchased 0.0%(h)

 

Metals/Minerals 0.0%(h)

 

Atlas Iron Ltd.(i)
Expiration Date 07/31/7, Exercise Price $0.075 AUD

     147,913,466        —  
    

 

 

  

Total Unlisted Call Option Purchased
(Cost $—)

        —  
    

 

 

  

Total Investments
(Cost $6,513,780,600) — 108.5%

 

      6,467,462,352  

Liabilities in Excess of Other Assets — (8.5)%

        (507,772,632 ) 
    

 

 

  

Net Assets — 100.0%

      $ 5,959,689,720  
    

 

 

  

 

* Non-income producing security.

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(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 92.8% of net assets as of March 31, 2017.

 

(c) The security does not have a stated settlement date and will receive a rate upon settling with the custodian.

 

(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) Security is in default.

 

(g) Rate shown is 5.580% Cash and 3.000% PIK.

 

(h) Less than 0.05% of Net Assets.

 

(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 0.9% of net assets as of March 31, 2017.

 

(j) Perpetual maturity.

 

(k) Rate disclosed, the 7 day yield, is as of March 31, 2017.
 

 

See Notes to Financial Statements.

 

60

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Floating Rate High Income Fund — concluded

 

Investment Abbreviations

 

AUD   —   Australian Dollar
DIP   —   Debtor-in-Possession
MTN   —   Medium Term Note
PIK   —   Payment in-kind

As of March 31, 2017, the Fund had the following unfunded loan commitments:

 

Borrower

    Unfunded
Commitments		      Unrealized
Appreciation		  

CH Hold Corp.

    $ 698,636      $ 6,086  

Daseke, Inc.

      1,071,429        17,359  

Go Daddy Operating Company, LLC

      4,858,408        16,303  

MH Sub I, LLC

      1,484,118        7,381  
  

 

 

     

 

 

  

Total

    $ 8,112,591      $ 47,129  
  

 

 

     

 

 

  

The commitments are available until the maturity date of the respective security.

 

 

See Notes to Financial Statements.

 

61

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Georgia Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 96.5%  

Georgia 87.9%

 

Athens Housing Authority, RB, 5.000%, 06/15/31

     1,000,000        1,155,620  

Athens-Clarke County Unified Government Development Authority, RB, 5.250%, 07/01/27, Pre-refunded 07/01/2021 @ 100

     2,885,000        3,330,069  

Athens-Clarke County Unified Government Development Authority, Catholic Health East, RB, 6.250%, 11/15/32

     1,360,000        1,475,913  

Athens-Clarke County Unified Government Water & Sewerage Revenue, RB, 5.000%, 01/01/24

     1,250,000        1,491,737  

Athens-Clarke County Unified Government Water & Sewerage Revenue, RB, 5.500%, 01/01/38, Pre-refunded 01/01/2019 @ 100(a)

     4,000,000        4,307,040  

Athens-Clarke County Unified Government Water & Sewerage Revenue, RB, 5.625%, 01/01/33, Pre-refunded 01/01/2019 @ 100(a)

     3,000,000        3,236,790  

Atlanta Airport Passenger Facility Charge, Series B, RB, 5.000%, 01/01/21

     2,000,000        2,195,800  

Atlanta Airport Project, Series B, RB, 5.000%, 01/01/23(a)

     2,500,000        2,779,150  

Atlanta Airport Project, Series B, RB, 5.000%, 01/01/42

     2,235,000        2,450,096  

Atlanta Beltline Project, Series B, Tax Allocation, 5.000%, 01/01/28

     855,000        994,664  

Atlanta Beltline Project, Series D, Tax Allocation, 5.000%, 01/01/30

     1,055,000        1,207,215  

Atlanta Beltline Project, Series D, Tax Allocation, 5.000%, 01/01/31

     1,500,000        1,705,680  

Atlanta Development Authority, RB, ETM, 5.000%, 09/01/19

     1,025,000        1,117,742  

Atlanta Development Authority, Series A, RB, 5.000%, 07/01/34

     1,000,000        1,124,930  

Atlanta Development Authority, Series A, RB, 5.250%, 07/01/40

     2,500,000        2,851,400  
     Shares or
Principal
Amount($)		      Value($)  

Georgia—continued

 

Atlanta Eastside Project, Tax Allocation, 5.000%, 01/01/28

     850,000        984,190  

Atlanta Eastside Project, Tax Allocation, 5.000%, 01/01/30

     250,000        284,708  

Atlanta GA Water & Wastewater Revenue, RB, 5.000%, 11/01/40

     4,000,000        4,509,160  

Atlanta GA Water & Wastewater Revenue, Series A, RB, 6.250%, 11/01/39, Pre-refunded 11/01/2019 @ 100

     1,875,000        2,115,619  

Carroll City-County Hospital Authority, Tanner Medical Center, Inc., RB, 5.000%, 07/01/41, Country Guaranteed

     3,000,000        3,326,700  

Clarke County Hospital Authority, Athens Regional Medical Center, RB, 5.000%, 01/01/32, Pre-refunded 01/01/2022 @ 100, Country Guaranteed

     1,180,000        1,362,782  

DeKalb Private Hospital Authority, Children’s Healthcare of Atlanta, Inc., RB, 5.000%, 11/15/29

     2,000,000        2,171,480  

Forsyth County, Series A, GO, 5.000%, 03/01/25, Pre-refunded 03/01/2019 @ 100

     5,000,000        5,370,500  

Fulton County Development Authority, Series A, RB, 5.000%, 05/01/39

     2,145,000        2,386,484  

Fulton County Development Authority, Robert Woodruff Arts Center, Inc., Series A, RB, 5.000%, 03/15/36

     2,000,000        2,219,160  

Fulton County Development Authority, Robert Woodruff Arts Center, Inc., Series B, RB, 5.250%, 03/15/24

     1,645,000        1,762,634  

Georgia State, Series A-1, GO, 5.000%, 02/01/24

     1,025,000        1,229,139  

Georgia State, Series B, GO, 5.000%, 10/01/17

     2,000,000        2,042,280  

Georgia State, Series E-2, GO, 4.000%, 09/01/19

     1,000,000        1,069,200  

Greene County Development Authority, RB, 5.000%, 11/15/37

     2,955,000        3,226,594  
 

 

See Notes to Financial Statements.

 

62

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Georgia Tax-Exempt Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Georgia—continued

 

Henry County Water & Sewerage Authority, RB, 6.150%, 02/01/20, AMBAC

     2,100,000        2,303,784  

Metropolitan Atlanta Rapid Transit Authority, Series A, RB, 5.000%, 07/01/30

     1,465,000        1,680,604  

Private Colleges & Universities Authority, Emory University, Series B, RB, 5.000%, 10/01/38

     4,000,000        4,599,960  

Private Colleges & Universities Authority, Emory University, Series C, RB, 5.250%, 09/01/39

     2,000,000        2,165,560  

Private Colleges & Universities Authority, Savannah College Of Art & Design, RB, 5.000%, 04/01/30

     1,000,000        1,087,560  

Private Colleges & Universities Authority, Savannah College Of Art & Design, RB, 5.000%, 04/01/44

     3,500,000        3,714,060  

Thomasville Hospital Authority, John D. Archhold Memorial Hospital, RB, 5.375%, 11/01/40

     2,510,000        2,741,397  
    

 

 

  
       83,777,401  
    

 

 

  

Guam 2.1%

 

Territory of Guam, Series A, RB, 5.000%, 12/01/33

     620,000        670,300  

Territory of Guam, Series A, RB, 5.000%, 12/01/34

     460,000        494,261  

Territory of Guam, Series A, RB, 5.000%, 12/01/46

     795,000        847,661  
    

 

 

  
       2,012,222  
    

 

 

  

North Carolina 4.4%

 

North Carolina Capital Facilities Finance Agency, Educational Facilities, RB, 5.000%, 05/01/32

     1,700,000        1,812,863  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/27(b)

     620,000        741,619  
     Shares or
Principal
Amount($)		      Value($)  

North Carolina—continued

 

North Carolina Medical Care Commission, RB, 5.000%, 10/01/33(b)

     805,000        924,205  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/35(b)

     620,000        705,076  
    

 

 

  
       4,183,763  
    

 

 

  

South Carolina 2.1%

 

South Carolina State Public Service Authority, Series A, RB, 5.750%, 12/01/43

     1,800,000        1,990,386  
    

 

 

  

Total Municipal Bonds
(Cost $89,278,300)

        91,963,772  
    

 

 

  

Money Market Fund 5.5%

 

Federated Government Obligations Tax-Managed Fund, Institutional Shares, 0.50%(c)

     5,181,314        5,181,314  
    

 

 

  

Total Money Market Fund
(Cost $5,181,314)

        5,181,314  
    

 

 

  

Total Investments
(Cost $94,459,614) — 102.0%

        97,145,086  

Liabilities in Excess of Other Assets — (2.0)%

        (1,858,408 ) 
    

 

 

  

Net Assets — 100.0%

      $ 95,286,678  
    

 

 

  

 

(a) 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.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

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.

 

63

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Grade Municipal Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 91.6%  

Alabama 2.4%

 

Birmingham Special Care Facilities Financing Authority Health Care Facilities, Children’s Hospital of Alabama, RB, 6.000%, 06/01/39, Pre-refunded 06/01/2019 @ 100, AGC

     2,000,000        2,206,100  
    

 

 

  

Alaska 2.5%

 

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, Pre-refunded 09/01/2019 @ 100, AGC

     730,000        813,016  

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, Pre-refunded 09/01/2019 @ 100, AGC

     1,270,000        1,414,424  
    

 

 

  
       2,227,440  
    

 

 

  

California 16.4%

 

California Infrastructure & Economic Development Bank, RB, 5.000%, 11/01/34

     1,000,000        1,137,200  

California Municipal Finance Authority, Series A, RB, 5.000%, 06/01/50

     1,750,000        1,834,735  

California State, GO, 5.000%, 08/01/23

     3,090,000        3,654,945  

California State, GO, 5.000%, 09/01/30

     1,000,000        1,127,140  

California State, GO, 6.500%, 04/01/33(a)

     2,000,000        2,212,240  

Los Angeles Department of Airports, Series B, AMT, RB, 5.000%, 05/15/35

     1,000,000        1,130,410  

Los Angeles Department of Airports, Series B, AMT, RB, 5.000%, 05/15/46

     1,000,000        1,110,460  

Norman Y Mineta San Jose International Airport SJC, Series A, AMT, RB, 5.000%, 03/01/47(b)

     1,500,000        1,656,285  

San Diego Redevelopment Agency Successor, Series A, 5.000%, 09/01/28

     500,000        594,750  
     Shares or
Principal
Amount($)		      Value($)  

California—continued

 

San Diego Redevelopment Agency Successor, Series A, 5.000%, 09/01/29

     405,000        476,478  
    

 

 

  
       14,934,643  
    

 

 

  

Connecticut 1.7%

 

South Central Connecticut Regional Water Authority, Series B, RB, 5.000%, 08/01/37

     1,400,000        1,586,172  
    

 

 

  

District of Columbia 2.4%

 

District of Columbia, Income Tax, Series A, RB, 5.500%, 12/01/30(a)

     2,000,000        2,223,880  
    

 

 

  

Florida 1.3%

 

Orlando FL Contract Tourist DE, Series A, RB, 5.250%, 11/01/32, Pre-refunded 05/01/2014 @ 100

     1,000,000        1,213,650  
    

 

 

  

Georgia 1.6%

 

Fulton County Development Authority, Georgia Tech Athletic Association, RB, 5.750%, 10/01/36

     1,250,000        1,413,788  
    

 

 

  

Idaho 2.9%

 

Idaho Health Facilities Authority, Series A, RB, 6.750%, 11/01/37(a)

     2,500,000        2,678,425  
    

 

 

  

Illinois 6.8%

 

Chicago O’Hare International Airport, Series A, AMT, RB, 5.000%, 01/01/33

     1,100,000        1,193,984  

Chicago O’Hare International Airport, Series B, RB, 5.000%, 01/01/33(a)

     3,500,000        3,898,720  

University of Illinois, Auxiliary Facilities System, Series A, RB, 5.750%, 04/01/38, Pre-refunded 04/01/2019 @ 100

     1,000,000        1,090,590  
    

 

 

  
       6,183,294  
    

 

 

  

Kansas 1.8%

 

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, RB, 5.750%, 11/15/38(a)

     1,500,000        1,644,180  
    

 

 

  
 

 

See Notes to Financial Statements.

 

64

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Grade Municipal Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Maine 3.0%

 

Maine State Turnpike Authority, RB, 6.000%, 07/01/38, Pre-refunded 07/01/2019 @ 100(a)

     2,500,000        2,768,500  
    

 

 

  

Michigan 2.8%

 

University of Michigan, Series B, RB, 0.850%, 04/01/28

     2,500,000        2,500,000  
    

 

 

  

Missouri 3.8%

 

Metropolitan St Louis Sewer District, Series B, RB, 5.000%, 05/01/36(a)

     3,000,000        3,437,040  
    

 

 

  

New York 7.1%

 

Erie County Industrial Development Agency, City School District Buffalo, Series A, RB, 5.750%, 05/01/29, Pre-refunded 05/01/2018 @ 100, BHAC-CR-AGM

     1,000,000        1,052,240  

New York State Dormitory Authority, RB, 5.000%, 03/15/28

     2,000,000        2,420,180  

Utility Debt Securitization Authority, Series A, RB, 5.000%, 12/15/34

     2,500,000        2,952,400  
    

 

 

  
       6,424,820  
    

 

 

  

North Carolina 10.7%

 

Charlotte NC Water & Sewer System Revenue, Series B, RB, 0.880%, 07/01/36

     4,375,000        4,375,000  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/35(b)

     1,625,000        1,847,983  

North Carolina Turnpike Authority, RB, 5.000%, 01/01/32

     1,000,000        1,130,900  

North Carolina Turnpike Authority, RB, 5.000%, 01/01/39, AGM

     700,000        784,840  

Raleigh, COP, 0.850%, 02/01/34

     1,615,000        1,615,000  
    

 

 

  
       9,753,723  
    

 

 

  

Oregon 12.2%

 

Clackamas County School District No. 12 North Clackamas, Series B, GO, 5.000%, 06/15/34, SCH BD GTY

     1,000,000        1,168,910  
     Shares or
Principal
Amount($)		      Value($)  

Oregon—continued

 

Oregon State, Series A, GO, 5.000%, 05/01/33

     2,785,000        3,290,422  

Oregon State, Series A, GO, 5.000%, 05/01/35

     2,250,000        2,634,727  

Port of Portland OR Airport Revenue, AMT, RB, 5.000%, 07/01/42

     1,000,000        1,115,080  

Port of Portland OR Airport Revenue, RB, 5.000%, 07/01/47

     1,000,000        1,132,540  

Washington Clackamas & Yamhill Counties School District No. 88J, Series B, GO, 5.000%, 06/15/31, SCH BD GTY

     1,500,000        1,783,785  
    

 

 

  
       11,125,464  
    

 

 

  

Texas 3.6%

 

Arlington Higher Education Finance Corp., Series A, RB, 5.000%, 08/15/39, PSF-GTD

     1,000,000        1,118,730  

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB, 5.000%, 07/01/35

     2,000,000        2,117,620  
    

 

 

  
       3,236,350  
    

 

 

  

Utah 6.6%

 

Salt Lake City Corp., Airport Revenue, Series A, AMT, RB, 5.000%, 07/01/33

     2,300,000        2,622,529  

Salt Lake City Corp., Airport Revenue, Series A, AMT, RB, 5.000%, 07/01/34

     3,000,000        3,404,010  
    

 

 

  
       6,026,539  
    

 

 

  

Washington 2.0%

 

Seattle Washington Municipal Light & Power, RB, 5.750%, 04/01/29, Pre-refunded 04/01/2019 @ 100, BHAC-CR(a)

     1,635,000        1,785,158  
    

 

 

  

Total Municipal Bonds
(Cost $81,298,305)

        83,369,166  
    

 

 

  
 

 

See Notes to Financial Statements.

 

65

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Grade Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Money Market Fund 11.4%

 

Federated Government Obligations Tax-Managed Fund, Institutional Shares, 0.50%(c)

     10,321,638        10,321,638  
    

 

 

  

Total Money Market Fund
(Cost $10,321,638)

        10,321,638  
    

 

 

  

Total Investments
(Cost $91,619,943) — 103.0%

        93,690,804  

Liabilities in Excess of Other Assets — (3.0)%

        (2,686,303 ) 
    

 

 

  

Net Assets — 100.0%

      $ 91,004,501  
    

 

 

  

 

(a) 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.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

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
COP   —   Certificate of Participation
CR   —   Custodial Receipts
GO   —   General Obligation
PSF-GTD   —   Security guaranteed by Permanent School Fund Guarantee Program
RB   —   Revenue Bond
SCH BD GTY   —   School Bond Guaranty Program
 

 

See Notes to Financial Statements.

 

66

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Bank Loans 2.6%  

Cable/Wireless Video 0.2%

 

Liberty Cablevision of Puerto Rico LLC, 1st Lien Term Loan,
4.523%, 01/07/22(a)(b)

     1,005,000        1,000,397  
    

 

 

  

Energy 0.5%

 

California Resources Corp., Second Out Term Loan, 11.375%, 12/31/21(a)(b)

     1,430,000        1,577,762  

Chesapeake Energy Corp., Term Loan, 8.553%, 08/23/21(a)(b)

     1,180,000        1,255,225  
    

 

 

  
       2,832,987  
    

 

 

  

Financial 0.8%

 

Asurion LLC, New 2nd Lien Term Loan, 8.500%, 03/03/21(a)(b)

     2,955,000        2,988,244  

Freedom Mortgage Corp., 1st Lien Term Loan, 6.862%, 02/26/22(a)(b)

     1,055,000        1,069,506  
    

 

 

  
       4,057,750  
    

 

 

  

Metals/Minerals 0.1%

 

FMG Resources (August 2006) Pty Ltd., New Term Loan B,
3.750%, 06/30/19(a)(b)

     505,071        507,677  
    

 

 

  

Retail 1.0%

 

Neiman Marcus Group Ltd. LLC, 2020 Term Loan, 4.250%, 10/25/20(a)(b)(c)

     1,910,000        1,532,087  

Sears Holding Corp., Incremental Term Loan, 8.500%, 07/20/20(a)(b)

     163,623        165,054  

Sears Roebuck Acceptance Corp., 2015 Term Loan, 5.500%, 06/30/18(a)(b)

     3,893,459        3,841,131  
    

 

 

  
       5,538,272  
    

 

 

  

Total Bank Loans
(Cost $13,871,030)

        13,937,083  
    

 

 

  

Corporate Bonds 91.1%

 

Airlines 2.3%

 

Air Canada Pass Through Trust, Series 2013-1, Cl C,
6.625%, 05/15/18(b)

     875,000        910,000  

Air Canada Pass Through Trust, Series 2015-1, Cl C,
5.000%, 03/15/20(b)

     543,000        550,493  
     Shares or
Principal
Amount($)		      Value($)  

Airlines—continued

     

American Airlines Pass Through Trust, Series 2013-2, Cl B,
5.600%, 01/15/22(b)

     5,013,587        5,182,796  

U.S. Airways Pass Through Trust, Series 2012-2, Cl B, 6.750%, 12/03/22

     2,814,972        3,047,208  

United Airlines Pass Through Trust, Series 2014-1, Cl B, 4.750%, 10/11/23

     2,715,145        2,769,448  
    

 

 

  
       12,459,945  
    

 

 

  

Auto Manufacturers 0.0%(d)

 

Motors Liquidation Co. Escrow,
7.200% (e)(f)(g)(h)

     17,182,000        —  

Motors Liquidation Co. Escrow,
8.375% (e)(f)(g)(h)

     36,800,000        —  
    

 

 

  
       —  
    

 

 

  

Auto Parts & Equipment 1.4%

     

Allison Transmission, Inc., 5.000%, 10/01/24(b)

     1,985,000        2,004,850  

American Axle & Manufacturing, Inc., 6.250%, 04/01/25(b)(e)

     1,599,000        1,600,999  

American Axle & Manufacturing, Inc., 6.500%, 04/01/27(b)

     1,599,000        1,593,995  

Deck Chassis Acquisition, Inc., 10.000%, 06/15/23(b)

     1,333,000        1,426,310  

TI Group Automotive Systems LLC, 8.750%, 07/15/23(b)

     1,015,000        1,076,742  
    

 

 

  
       7,702,896  
    

 

 

  

Banks 1.2%

 

Provident Funding Associates LP/PFG Finance Corp., 6.750%, 06/15/21(b)

     4,740,000        4,834,800  

Royal Bank of Scotland Group PLC, 8.625% (a)(h)

     1,310,000        1,365,675  
    

 

 

  
       6,200,475  
    

 

 

  

Building Materials 0.4%

 

Summit Materials LLC/Summit Materials Finance Corp., 8.500%, 04/15/22

     1,845,000        2,029,500  
    

 

 

  

Chemicals 1.6%

 

Axalta Coating Systems LLC, 4.875%, 08/15/24(b)

     1,955,000        2,003,875  

Blue Cube Spinco, Inc.,
9.750%, 10/15/23(e)

     2,453,000        2,937,467  
 

 

See Notes to Financial Statements.

 

67

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Chemicals—continued

 

Chemours Co. (The), 7.000%, 05/15/25(e)

     1,985,000        2,136,853  

CVR Partners LP/CVR Nitrogen Finance Corp., 9.250%, 06/15/23(b)(e)

     835,000        856,919  

Platform Specialty Products Corp., 10.375%, 05/01/21(b)

     490,000        545,125  

Valvoline, Inc., 5.500%, 07/15/24(b)

     322,000        338,100  
    

 

 

  
       8,818,339  
    

 

 

  

Coal 2.1%

 

CONSOL Energy, Inc., 5.875%, 04/15/22

     1,560,000        1,542,450  

CONSOL Energy, Inc., 8.000%, 04/01/23

     3,415,000        3,590,019  

Contura Energy, Inc.,
10.000%, 08/01/21(b)(e)

     4,160,000        4,484,896  

Foresight Energy LLC/Foresight Energy Finance Corp., 11.500%, 04/01/23(b)(e)

     1,965,000        1,837,275  
    

 

 

  
       11,454,640  
    

 

 

  

Commercial Services 3.3%

 

Cardtronics, Inc., 5.500%, 05/01/25(b)

     870,000        879,787  

Flexi-Van Leasing, Inc., 7.875%, 08/15/18

     835,000        755,675  

Gartner, Inc., 5.125%, 04/01/25(b)

     775,000        789,531  

Herc Rentals, Inc., 7.500%, 06/01/22(b)

     1,390,000        1,476,875  

Laureate Education, Inc., 9.250%, 09/01/19(b)(e)

     3,880,000        4,035,200  

Prime Security Services Borrower LLC/Prime Finance, Inc., 9.250%, 05/15/23(b)

     1,015,000        1,112,694  

Quad/Graphics, Inc., 7.000%, 05/01/22

     1,290,000        1,290,000  

Rent-A-Center, Inc., 4.750%, 05/01/21(e)

     1,756,000        1,439,920  

Rent-A-Center, Inc., 6.625%, 11/15/20(e)

     1,063,000        940,755  

Ritchie Bros Auctioneers, Inc., 5.375%, 01/15/25(b)

     1,290,000        1,319,025  

Team Health Holdings, Inc., 6.375%, 02/01/25(b)(e)

     670,000        656,600  

TMS International Corp., 7.625%, 10/15/21

     2,665,000        2,684,987  

United Rentals North America, Inc., 7.625%, 04/15/22

     602,000        626,833  
    

 

 

  
       18,007,882  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Computers 2.8%

 

Conduent Finance, Inc./Xerox Business Services LLC, 10.500%, 12/15/24(b)

     728,000        839,020  

Dell, Inc., 6.500%, 04/15/38

     1,342,000        1,308,450  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 7.125%, 06/15/24(b)(e)

     1,430,000        1,580,835  

Harland Clarke Holdings Corp., 6.875%, 03/01/20(b)(i)

     1,680,000        1,705,200  

Harland Clarke Holdings Corp., 8.375%, 08/15/22(b)

     2,180,000        2,234,500  

Harland Clarke Holdings Corp., 9.250%, 03/01/21(b)

     1,910,000        1,859,862  

Western Digital Corp., 10.500%, 04/01/24

     4,525,000        5,333,844  
    

 

 

  
       14,861,711  
    

 

 

  

Distribution/Wholesale 0.3%

 

Univar USA, Inc., 6.750%, 07/15/23(b)

     1,555,000        1,613,313  
    

 

 

  

Diversified Financial Services 9.6%

 

Alliance Data Systems Corp., 5.875%, 11/01/21(b)(i)

     4,690,000        4,854,150  

Ally Financial, Inc., 5.750%, 11/20/25

     700,000        716,625  

Ally Financial, Inc., 8.000%, 03/15/20

     1,369,000        1,536,702  

Ally Financial, Inc., 8.000%, 11/01/31

     450,000        534,375  

Jefferies Finance LLC/JFIN Co-Issuer Corp., 7.375%, 04/01/20(b)

     2,425,000        2,449,250  

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 08/01/18

     5,200,000        5,265,000  

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 07/01/21

     4,166,000        4,218,075  

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 06/01/22

     827,000        827,000  

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20

     3,890,000        4,033,444  

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19

     1,025,000        1,053,188  

Navient Corp., 5.500%, 01/15/19, MTN

     875,000        906,500  
 

 

See Notes to Financial Statements.

 

68

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Diversified Financial Services—continued

 

Navient Corp., 6.500%, 06/15/22

     1,089,000        1,098,529  

Navient Corp., 8.000%, 03/25/20, MTN

     2,415,000        2,623,294  

Navient Corp., 8.450%, 06/15/18, MTN

     1,805,000        1,922,325  

Ocwen Loan Servicing LLC, 8.375%, 11/15/22(b)

     4,870,000        4,943,050  

OneMain Financial Holdings LLC, 7.250%, 12/15/21(b)

     1,625,000        1,702,187  

Quicken Loans, Inc.,
5.750%, 05/01/25(b)(e)

     5,330,000        5,236,725  

Springleaf Finance Corp., 8.250%, 12/15/20(e)

     1,755,000        1,917,337  

Springleaf Finance Corp., 8.250%, 10/01/23

     2,985,000        3,145,444  

Walter Investment Management Corp., 7.875%, 12/15/21(e)

     4,350,000        2,555,625  
    

 

 

  
       51,538,825  
    

 

 

  

Electric 1.5%

 

Dynegy, Inc., 7.375%, 11/01/22(e)

     1,220,000        1,207,800  

GenOn Energy, Inc., 7.875%, 06/15/17

     1,442,000        998,585  

NRG Energy, Inc., 6.250%, 07/15/22

     570,000        582,825  

NRG Energy, Inc., 6.625%, 03/15/23(e)

     620,000        634,337  

NRG Energy, Inc., 7.250%, 05/15/26(e)

     2,130,000        2,193,900  

NRG Energy, Inc., 7.875%, 05/15/21

     802,000        824,055  

NRG Yield Operating LLC, 5.000%, 09/15/26(b)(e)

     1,620,000        1,575,450  
    

 

 

  
       8,016,952  
    

 

 

  

Electrical Components & Equipment 0.3%

 

WESCO Distribution, Inc., 5.375%, 06/15/24

     1,750,000        1,793,750  
    

 

 

  

Electronics 0.3%

 

Allegion PLC, 5.875%, 09/15/23

     1,743,000        1,860,653  
    

 

 

  

Energy-Alternate Sources 0.1%

 

Enviva Partners LP/Enviva Partners Finance Corp., 8.500%, 11/01/21(b)

     500,000        530,000  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Engineering & Construction 0.6%

 

AECOM, 5.125%, 03/15/27(b)

     1,383,000        1,386,458  

Engility Corp., 8.875%, 09/01/24(b)

     1,930,000        2,043,387  
    

 

 

  
       3,429,845  
    

 

 

  

Entertainment 1.5%

 

CCM Merger, Inc., 6.000%, 03/15/22(b)

     400,000        408,000  

Eagle II Acquisition Co. LLC, 6.000%, 04/01/25(b)

     1,005,000        1,035,150  

EMI Music Publishing Group North America Holdings, Inc., 7.625%, 06/15/24(b)

     852,000        928,680  

Gateway Casinos & Entertainment Ltd., 8.250%, 03/01/24(b)

     310,000        313,875  

Lions Gate Entertainment Corp., 5.875%, 11/01/24(b)

     1,405,000        1,457,687  

Mohegan Tribal Gaming Authority, 7.875%, 10/15/24(b)(e)

     1,745,000        1,768,994  

WMG Acquisition Corp.,
5.000%, 08/01/23(b)

     630,000        636,300  

WMG Acquisition Corp.,
5.625%, 04/15/22(b)

     1,600,000        1,656,000  
    

 

 

  
       8,204,686  
    

 

 

  

Environmental Control 0.3%

 

GFL Environmental, Inc., 9.875%, 02/01/21(b)

     1,685,000        1,824,013  
    

 

 

  

Food 1.9%

 

JBS USA LLC/JBS USA Finance, Inc., 8.250%, 02/01/20(b)

     1,815,000        1,860,375  

Lamb Weston Holdings, Inc.,
4.625%, 11/01/24(b)

     585,000        596,700  

Post Holdings, Inc.,
5.000%, 08/15/26(b)(e)

     1,970,000        1,886,275  

Post Holdings, Inc., 5.500%, 03/01/25(b)

     457,000        459,285  

Post Holdings, Inc., 5.750%, 03/01/27(b)

     571,000        569,573  

Post Holdings, Inc., 8.000%, 07/15/25(b)

     2,070,000        2,323,575  

U.S. Foods, Inc., 5.875%, 06/15/24(b)

     2,481,000        2,574,037  
    

 

 

  
       10,269,820  
    

 

 

  

Forest Products & Paper 0.2%

 

Resolute Forest Products, Inc., 5.875%, 05/15/23(e)

     1,140,000        1,040,250  
    

 

 

  
 

 

See Notes to Financial Statements.

 

69

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Gas 0.3%

 

AmeriGas Partners LP/AmeriGas Finance Corp., 5.750%, 05/20/27

     1,520,000        1,500,620  
    

 

 

  

Healthcare-Products 0.7%

 

Greatbatch Ltd., 9.125%, 11/01/23(b)

     2,347,000        2,476,085  

Teleflex, Inc., 5.250%, 06/15/24

     1,263,000        1,288,260  
    

 

 

  
       3,764,345  
    

 

 

  

Healthcare-Services 7.1%

 

Centene Corp., 5.625%, 02/15/21

     2,530,000        2,647,898  

CHS/Community Health Systems, Inc., 6.250%, 03/31/23

     1,146,000        1,166,055  

CHS/Community Health Systems, Inc., 6.875%, 02/01/22(e)

     2,145,000        1,844,700  

CHS/Community Health Systems, Inc., 8.000%, 11/15/19(e)

     2,640,000        2,590,500  

DaVita, Inc., 5.000%, 05/01/25

     4,810,000        4,822,025  

DaVita, Inc., 5.750%, 08/15/22

     1,405,000        1,454,175  

HCA Holdings, Inc.,
6.250%, 02/15/21(e)(i)

     2,865,000        3,092,409  

HCA, Inc., 5.250%, 06/15/26

     1,020,000        1,073,550  

HCA, Inc., 6.500%, 02/15/20

     2,215,000        2,424,052  

HCA, Inc., 7.500%, 11/06/33

     280,000        306,250  

HCA, Inc., 7.500%, 11/15/95

     720,000        702,900  

Kindred Healthcare, Inc., 8.000%, 01/15/20

     2,595,000        2,637,169  

Kindred Healthcare, Inc., 8.750%, 01/15/23(e)

     1,160,000        1,162,900  

MPH Acquisition Holdings LLC, 7.125%, 06/01/24(b)

     1,003,000        1,078,350  

Opal Acquisition, Inc.,
8.875%, 12/15/21(b)

     1,005,000        874,350  

Tenet Healthcare Corp., 6.000%, 10/01/20

     1,585,000        1,676,138  

Tenet Healthcare Corp.,
8.125%, 04/01/22(e)

     4,620,000        4,822,125  

WellCare Health Plans, Inc., 5.250%, 04/01/25

     2,245,000        2,297,308  

WellCare Health Plans, Inc., 5.750%, 11/15/20

     1,400,000        1,440,600  
    

 

 

  
       38,113,454  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Home Builders 3.3%

 

CalAtlantic Group, Inc., 5.875%, 11/15/24

     1,650,000        1,732,500  

Century Communities, Inc., 6.875%, 05/15/22(b)

     2,180,000        2,267,200  

Lennar Corp., 4.750%, 04/01/21

     1,160,000        1,209,300  

Mattamy Group Corp., 6.500%,
11/15/20(b)

     1,070,000        1,099,425  

Mattamy Group Corp., 6.875%,
12/15/23(b)

     528,000        547,800  

New Home Co., Inc. (The), 7.250%, 04/01/22(b)(e)

     735,000        740,513  

PulteGroup, Inc., 4.250%, 03/01/21

     1,755,000        1,803,262  

PulteGroup, Inc., 5.500%, 03/01/26

     695,000        719,325  

Shea Homes LP/Shea Homes Funding Corp., 5.875%, 04/01/23(b)

     1,665,000        1,673,325  

Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.250%, 04/15/21(b)

     935,000        963,050  

TRI Pointe Group, Inc., 4.875%, 07/01/21

     3,201,000        3,297,030  

TRI Pointe Group, Inc./TRI Pointe Homes, Inc., 5.875%, 06/15/24

     1,590,000        1,637,700  
    

 

 

  
       17,690,430  
    

 

 

  

Insurance 1.0%

 

MGIC Investment Corp., 5.750%, 08/15/23

     2,640,000        2,785,200  

Radian Group, Inc., 7.000%, 03/15/21

     2,252,000        2,491,275  
    

 

 

  
       5,276,475  
    

 

 

  

Internet 0.4%

 

Cogent Communications Group, Inc., 5.375%, 03/01/22(b)

     520,000        533,650  

Zayo Group LLC/Zayo Capital, Inc., 6.000%, 04/01/23

     1,770,000        1,869,562  
    

 

 

  
       2,403,212  
    

 

 

  

Leisure Time 0.6%

 

Silversea Cruise Finance Ltd., 7.250%, 02/01/25(b)

     1,340,000        1,407,000  

Viking Cruises Ltd., 8.500%, 10/15/22(b)

     1,550,000        1,608,125  
    

 

 

  
       3,015,125  
    

 

 

  
 

 

See Notes to Financial Statements.

 

70

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Lodging 4.3%

 

Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Prope, 11.000%, 10/01/21

     3,485,000        3,798,650  

Caesars Growth Properties Holdings LLC/Caesars Growth Properties Finance, Inc., 9.375%, 05/01/22

     3,570,000        3,837,750  

Diamond Resorts International, Inc., 10.750%, 09/01/24(b)(e)

     1,055,000        1,097,200  

Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.500%, 07/01/19(b)

     1,680,000        1,638,000  

Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 6.125%, 12/01/24(b)

     820,000        861,000  

Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.625%, 04/01/25(b)

     933,000        944,383  

Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp.,
10.250%, 11/15/22(b)(e)

     1,207,000        1,294,133  

MGM Resorts International, 6.000%, 03/15/23

     3,075,000        3,321,000  

MGM Resorts International, 6.750%, 10/01/20

     545,000        599,500  

MGM Resorts International, 7.750%, 03/15/22(i)

     4,945,000        5,705,294  
    

 

 

  
       23,096,910  
    

 

 

  

Media 6.3%

 

Altice Finco SA, 7.625%, 02/15/25(b)(e)

     1,500,000        1,541,250  

Altice Luxembourg SA,
7.750%, 05/15/22(b)(e)

     2,175,000        2,308,219  

CBS Radio, Inc., 7.250%, 11/01/24(b)(e)

     809,000        849,450  

CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 05/01/27(b)(c)

     2,905,000        2,919,525  

CCO Holdings LLC/CCO Holdings Capital Corp., 5.750%, 09/01/23

     505,000        525,200  

CCO Holdings LLC/CCO Holdings Capital Corp., 5.750%, 02/15/26(b)

     1,405,000        1,475,250  
     Shares or
Principal
Amount($)		      Value($)  

Media—continued

 

Cequel Communications Holdings I LLC/Cequel Capital Corp., 6.375%, 09/15/20(b)

     320,000        329,600  

Cequel Communications Holdings I LLC/Cequel Capital Corp., 7.750%, 07/15/25(b)

     2,510,000        2,775,119  

Clear Channel Worldwide Holdings, Inc., Series B, 6.500%, 11/15/22

     1,475,000        1,534,000  

CSC Holdings LLC, 10.125%, 01/15/23(b)

     1,000,000        1,160,000  

CSC Holdings LLC, 10.875%, 10/15/25(b)

     2,650,000        3,186,625  

DISH DBS Corp., 7.875%, 09/01/19

     2,310,000        2,546,775  

Lee Enterprises, Inc.,
9.500%, 03/15/22(b)(e)

     2,040,000        2,141,082  

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 7.875%, 05/15/24(b)(e)

     615,000        595,012  

SFR Group SA, 7.375%, 05/01/26(b)

     2,450,000        2,523,500  

Univision Communications, Inc., 6.750%, 09/15/22(b)

     1,434,000        1,504,252  

Viacom, Inc., 6.250%, 02/28/57(a)(e)

     1,240,000        1,249,920  

WideOpenWest Finance LLC/WideOpenWest Capital Corp., 10.250%, 07/15/19

     1,508,000        1,570,205  

Ziggo Bond Finance BV, 5.875%, 01/15/25(b)

     1,850,000        1,863,875  

Ziggo Secured Finance BV, 5.500%, 01/15/27(b)

     1,090,000        1,089,891  
    

 

 

  
       33,688,750  
    

 

 

  

Metal Fabricate/Hardware 0.4%

 

Grinding Media, Inc./MC Grinding Media Canada, Inc., 7.375%, 12/15/23(b)

     210,000        220,500  

Novelis Corp., 6.250%, 08/15/24(b)

     1,645,000        1,714,912  
    

 

 

  
       1,935,412  
    

 

 

  

Mining 0.8%

 

Imperial Metals Corp., 7.000%, 03/15/19

     2,948,000        2,793,230  

Kaiser Aluminum Corp., 5.875%, 05/15/24

     1,324,000        1,379,860  
    

 

 

  
       4,173,090  
    

 

 

  
 

 

See Notes to Financial Statements.

 

71

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Miscellaneous Manufacturer 0.8%

 

Bombardier, Inc., 7.500%, 03/15/25(b)

     1,950,000        1,998,750  

Bombardier, Inc., 7.750%, 03/15/20(b)

     585,000        624,487  

Bombardier, Inc., 8.750%, 12/01/21(b)

     1,475,000        1,615,125  
    

 

 

  
       4,238,362  
    

 

 

  

Oil & Gas 9.5%

 

Antero Resources Corp., 5.625%, 06/01/23

     195,000        199,388  

Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.000%, 04/01/22(b)(c)

     940,000        972,900  

Atwood Oceanics, Inc.,
6.500%, 02/01/20(e)

     1,550,000        1,396,938  

California Resources Corp.,
8.000%, 12/15/22(b)

     2,515,000        2,043,437  

Callon Petroleum Co.,
6.125%, 10/01/24(b)

     1,025,000        1,066,000  

Chesapeake Energy Corp., 6.625%, 08/15/20

     4,220,000        4,214,725  

Chesapeake Energy Corp., 6.875%, 11/15/20

     2,975,000        2,967,562  

Chesapeake Energy Corp., 8.000%, 12/15/22(b)(e)

     4,015,000        4,205,712  

Chesapeake Energy Corp., 8.000%, 01/15/25(b)(e)

     1,300,000        1,300,000  

CITGO Petroleum Corp., 6.250%, 08/15/22(b)

     1,475,000        1,493,437  

Denbury Resources, Inc., 9.000%, 05/15/21(b)

     1,170,000        1,234,350  

Diamondback Energy, Inc., 4.750%, 11/01/24(b)

     998,000        1,003,888  

Diamondback Energy, Inc., 5.375%, 05/31/25(b)

     1,083,000        1,110,075  

Eclipse Resources Corp., 8.875%, 07/15/23

     2,480,000        2,529,600  

Ensco PLC, 5.750%, 10/01/44

     1,815,000        1,370,325  

Ensco PLC, 8.000%, 01/31/24(e)

     1,383,000        1,400,288  

EP Energy LLC/Everest Acquisition Finance, Inc., 8.000%, 02/15/25(b)

     1,183,000        1,100,190  

EP Energy LLC/Everest Acquisition Finance, Inc., 9.375%, 05/01/20

     3,166,000        2,984,588  

MEG Energy Corp.,
6.500%, 01/15/25(b)(e)

     235,000        235,000  
     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

 

MEG Energy Corp., 7.000%, 03/31/24(b)

     1,980,000        1,772,100  

Nabors Industries, Inc.,
5.500%, 01/15/23(b)(e)

     1,260,000        1,285,988  

Precision Drilling Corp., 6.625%, 11/15/20

     1,010,374        1,015,426  

Precision Drilling Corp.,
7.750%, 12/15/23(b)

     800,000        842,000  

Pride International LLC, 7.875%, 08/15/40

     1,050,000        971,250  

Range Resources Corp., 5.750%, 06/01/21(b)

     2,819,000        2,889,475  

Rice Energy, Inc., 6.250%, 05/01/22

     1,797,000        1,850,910  

Rowan Cos., Inc., 4.750%, 01/15/24

     1,210,000        1,085,975  

Rowan Cos., Inc., 4.875%, 06/01/22

     1,349,000        1,288,295  

Rowan Cos., Inc., 5.850%, 01/15/44

     1,410,000        1,085,700  

SandRidge Energy, Inc., Escrow, 8.125%, 10/15/22(f)(g)

     1,935,000        3,870  

Seven Generations Energy Ltd., 6.750%, 05/01/23(b)(e)

     1,571,000        1,641,695  

Transocean, Inc., 6.800%, 03/15/38

     675,000        555,188  

Transocean, Inc., 7.500%, 04/15/31

     585,000        526,500  

Transocean, Inc., 9.000%, 07/15/23(b)

     1,275,000        1,361,063  
    

 

 

  
       51,003,838  
    

 

 

  

Oil & Gas Services 1.6%

 

FTS International, Inc., 8.631%,
06/15/20(a)(b)

     1,400,000        1,419,250  

KCA Deutag UK Finance PLC, 7.250%, 05/15/21

     2,005,000        1,875,297  

KCA Deutag UK Finance PLC, 9.875%, 04/01/22(b)(c)

     1,960,000        2,011,450  

SESI LLC, 6.375%, 05/01/19

     2,500,000        2,493,750  

SESI LLC, 7.125%, 12/15/21(e)

     790,000        799,875  
    

 

 

  
       8,599,622  
    

 

 

  

Packaging & Containers 0.5%

 

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu, 5.125%, 07/15/23(b)

     2,445,000        2,512,237  
    

 

 

  

Pharmaceuticals 2.8%

 

Endo Finance LLC/Endo Finco, Inc., 7.250%, 01/15/22(b)

     2,495,000        2,357,775  
 

 

See Notes to Financial Statements.

 

72

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Pharmaceuticals—continued

 

Horizon Pharma, Inc., 6.625%,
05/01/23(e)

     1,080,000        1,058,400  

inVentiv Group Holdings, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc., 7.500%, 10/01/24(b)

     1,945,000        2,000,919  

Valeant Pharmaceuticals International, Inc., 6.125%, 04/15/25(b)(e)

     3,040,000        2,340,800  

Valeant Pharmaceuticals International, Inc., 6.500%, 03/15/22(b)(e)

     899,000        924,846  

Valeant Pharmaceuticals International, Inc., 6.750%, 08/15/21(b)

     975,000        840,937  

Valeant Pharmaceuticals International, Inc., 7.000%, 03/15/24(b)

     1,855,000        1,903,694  

Valeant Pharmaceuticals International, Inc., 7.500%, 07/15/21(b)

     4,380,000        3,837,975  
    

 

 

  
       15,265,346  
    

 

 

  

Pipelines 1.7%

 

Cheniere Corpus Christi Holdings LLC, 7.000%, 06/30/24(b)

     1,190,000        1,310,487  

Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.750%, 04/01/25(b)(e)

     1,146,000        1,170,353  

Rockies Express Pipeline LLC, 5.625%, 04/15/20(b)

     390,000        410,475  

Rockies Express Pipeline LLC, 6.000%, 01/15/19(b)

     2,635,000        2,746,987  

Rockies Express Pipeline LLC, 6.850%, 07/15/18(b)

     1,241,000        1,296,845  

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 5.250%, 01/15/25

     606,000        633,270  

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 6.125%, 10/15/21

     1,755,000        1,836,169  
    

 

 

  
       9,404,586  
    

 

 

  

Private Equity 0.5%

 

Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.000%, 08/01/20

     2,742,000        2,837,970  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Real Estate 1.0%

 

Greystar Real Estate Partners LLC, 8.250%, 12/01/22(b)

     370,000        399,137  

Howard Hughes Corp. (The), 5.375%, 03/15/25(b)

     1,955,000        1,935,450  

Realogy Group LLC/Realogy Co-Issuer Corp., 4.875%, 06/01/23(b)

     1,610,000        1,573,775  

Realogy Group LLC/Realogy Co-Issuer Corp., 5.250%, 12/01/21(b)(e)

     1,470,000        1,528,800  
    

 

 

  
       5,437,162  
    

 

 

  

Real Estate Investment Trust 3.5%

 

Care Capital Properties LP, 5.125%, 08/15/26

     1,675,000        1,656,900  

iStar, Inc., 6.000%, 04/01/22(e)

     1,118,000        1,134,770  

iStar, Inc., 6.500%, 07/01/21

     3,353,000        3,445,208  

iStar, Inc., 7.125%, 02/15/18

     5,265,000        5,449,275  

iStar, Inc., 9.000%, 06/01/17

     2,220,000        2,244,975  

SBA Communications Corp., 4.875%, 09/01/24(b)

     630,000        621,999  

Starwood Property Trust, Inc., 5.000%, 12/15/21(b)

     4,173,000        4,329,487  
    

 

 

  
       18,882,614  
    

 

 

  

Retail 2.8%

 

DriveTime Automotive Group, Inc./Bridgecrest Acceptance Corp., 8.000%, 06/01/21(b)

     645,000        632,100  

L Brands, Inc., 6.750%, 07/01/36

     625,000        595,500  

Men’s Wearhouse, Inc. (The), 7.000%, 07/01/22(e)

     2,690,000        2,387,375  

New Albertsons, Inc., 7.450%, 08/01/29

     1,790,000        1,696,025  

Penske Automotive Group, Inc., 5.375%, 12/01/24

     640,000        641,600  

Rite Aid Corp., 6.125%, 04/01/23(b)(e)

     3,700,000        3,667,625  

Rite Aid Corp., 6.750%, 06/15/21(e)

     2,515,000        2,526,003  

Sears Holdings Corp.,
8.000%, 12/15/19(e)

     1,695,000        1,322,100  

TRU Taj LLC/TRU Taj Finance, Inc., 12.000%, 08/15/21(b)

     2,095,000        1,848,838  
    

 

 

  
       15,317,166  
    

 

 

  

Software 2.3%

 

Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.750%, 03/01/25(b)

     1,595,000        1,634,875  
 

 

See Notes to Financial Statements.

 

73

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Software—continued

 

Donnelley Financial Solutions, Inc., 8.250%, 10/15/24(b)(e)

     1,705,000        1,760,412  

First Data Corp., 5.375%, 08/15/23(b)

     1,620,000        1,686,825  

First Data Corp., 7.000%, 12/01/23(b)(e)

     2,215,000        2,375,587  

Infor US, Inc., 6.500%, 05/15/22

     730,000        750,148  

Nuance Communications, Inc., 5.625%, 12/15/26(b)

     1,551,000        1,585,898  

Quintiles IMS, Inc., 5.000%, 10/15/26(b)

     1,390,000        1,395,213  

Solera LLC/Solera Finance, Inc., 10.500%, 03/01/24(b)

     1,090,000        1,245,325  
    

 

 

  
       12,434,283  
    

 

 

  

Telecommunication Services 5.8%

 

Cincinnati Bell, Inc., 7.000%, 07/15/24(b)

     4,460,000        4,677,425  

Cogent Communications Finance, Inc., 5.625%, 04/15/21(b)

     745,000        759,900  

Digicel Group Ltd., 8.250%, 09/30/20(b)

     1,425,000        1,224,645  

Frontier Communications Corp., 7.875%, 01/15/27

     730,000        599,388  

Frontier Communications Corp., 11.000%, 09/15/25

     2,230,000        2,168,675  

HC2 Holdings, Inc., 11.000%, 12/01/19(b)

     1,125,000        1,147,500  

Intelsat Jackson Holdings S.A., 7.250%, 10/15/20

     4,065,000        3,704,231  

Level 3 Financing, Inc., 5.375%, 05/01/25

     735,000        747,863  

Sprint Communications, Inc., 11.500%, 11/15/21

     3,045,000        3,821,475  

Sprint Corp., 7.875%, 09/15/23

     2,145,000        2,375,588  

Trilogy International Partners LLC/Trilogy International Finance, Inc., 13.375%, 05/15/19(i)

     5,215,000        5,280,187  

ViaSat, Inc., 6.875%, 06/15/20(e)

     2,745,000        2,806,763  

West Corp., 5.375%, 07/15/22(b)

     1,760,000        1,729,200  
    

 

 

  
       31,042,840  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Transportation 1.4%

 

Florida East Coast Holdings Corp., 6.750%, 05/01/19(b)

     2,830,000        2,914,900  

Hornbeck Offshore Services, Inc., 1.500%, 09/01/19(e)

     985,000        640,250  

Hornbeck Offshore Services, Inc., 5.000%, 03/01/21

     1,960,000        1,185,800  

Hornbeck Offshore Services, Inc., 5.875%, 04/01/20

     2,302,000        1,473,280  

Navios South American Logistics, Inc./Navios Logistics Finance US, Inc., 7.250%, 05/01/22(b)

     1,230,000        1,205,400  
    

 

 

  
       7,419,630  
    

 

 

  

Total Corporate Bonds
(Cost $474,776,309)

        490,710,974  
    

 

 

  

Convertible Preferred Stock 0.1%

 

Telecommunication Services 0.1%

 

T-Mobile US, Inc., 5.500%, 12/15/17

     6,065        641,738  
    

 

 

  

Total Convertible Preferred Stock
(Cost $303,250)

        641,738  
    

 

 

  

Preferred Stock 0.2%

 

Banks 0.2%

 

GMAC Capital Trust I, Series 2,
6.824%(a)

     42,810        1,088,658  
    

 

 

  

Total Preferred Stock
(Cost $1,070,250)

        1,088,658  
    

 

 

  

Warrants 0.0%(d)

 

Oil & Gas 0.0%(d)

 

SandRidge Energy, Inc.*(g)

     3,760        4,700  

SandRidge Energy, Inc.*(g)

     1,583        1,979  
    

 

 

  

Total Warrants
(Cost $—)

        6,679  
    

 

 

  

Common Stocks 1.6%

 

Auto Manufacturers 0.5%

 

General Motors Co.

     76,364        2,700,231  
    

 

 

  

Oil & Gas 1.0%

     

Linn Energy, Inc.*

     116,734        3,385,286  

SandRidge Energy, Inc.*

     39,265        726,010  

Templar Energy LLC, Cl A*

     159,460        1,176,019  
    

 

 

  
       5,287,315  
    

 

 

  

Telecommunication Services 0.1%

 

NII Holding, Inc.*(e)

     284,455        369,792  
    

 

 

  

Total Common Stocks
(Cost $16,208,753)

        8,357,338  
    

 

 

  
 

 

See Notes to Financial Statements.

 

74

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Income Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Money Market Funds 9.4%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(j)

     3,189,676        3,189,676  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(j)(k)

     47,734,256        47,734,256  
    

 

 

  

Total Money Market Funds
(Cost $50,923,932)

        50,923,932  
    

 

 

  

Total Investments
(Cost $557,153,524) — 105.0%

 

      565,666,402  

Liabilities in Excess of Other Assets — (5.0)%

        (26,811,200 ) 
    

 

 

  

Net Assets — 100.0%

      $ 538,855,202  
    

 

 

  

 

* Non-income producing security.

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(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 47.6% of net assets as of March 31, 2017.
(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Less than 0.05% of Net Assets.

 

(e) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $56,090,727.

 

(f) Security is in default.

 

(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, 2017.

 

(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) Rate disclosed, the 7 day yield, is as of March 31, 2017.

 

(k) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $59,760,661. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $12,026,405. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(k)).

Investment Abbreviations

MTN — Medium Term Note

 

 

See Notes to Financial Statements.

 

75

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Bank Loans 2.6%  

Cable/Wireless Video 0.2%

 

Liberty Cablevision of Puerto Rico LLC, 1st Lien Term Loan, 4.523%,
01/07/22(a)(b)

     1,025,000        1,020,306  
    

 

 

  

Chemicals 0.4%

 

Chemours Co. (The), Term Loan B, 6.000%, 05/12/22(a)(b)

     1,400,647        1,407,651  

Kraton Polymers LLC, 2016 Term Loan B, 5.000%, 01/06/22(a)(b)

     734,867        741,297  
    

 

 

  
       2,148,948  
    

 

 

  

Energy 0.3%

 

California Resources Corp., Second Out Term Loan, 11.375%, 12/31/21(a)(b)

     1,195,000        1,318,479  
    

 

 

  

Financial 0.6%

 

Freedom Mortgage Corp., 1st Lien Term Loan, 6.862%, 02/26/22(a)(b)

     880,000        892,100  

Walter Investment Management Corp., 2013 Term Loan,
4.750%, 12/18/20(a)(b)

     2,757,926        2,372,809  
    

 

 

  
       3,264,909  
    

 

 

  

Retail 0.9%

 

Neiman Marcus Group Ltd. LLC, 2020 Term Loan, 4.250%, 10/25/20(a)(b)(c)

     1,585,000        1,271,392  

Sears Holding Corp., Incremental Term Loan, 8.500%, 07/20/20(a)(b)

     171,233        172,731  

Sears Roebuck Acceptance Corp., 2015 Term Loan, 5.500%, 06/30/18(a)(b)

     3,280,691        3,236,599  
    

 

 

  
       4,680,722  
    

 

 

  

Service 0.2%

 

Laureate Education, Inc., 2016 Term Loan, 8.509%, 03/17/21(a)(b)

     1,205,191        1,214,230  
    

 

 

  

Total Bank Loans
(Cost $13,701,224)

        13,647,594  
    

 

 

  

Corporate Bonds 88.8%

 

Airlines 1.9%

 

Air Canada Pass Through Trust, Series 2013-1, Cl C,
6.625%, 05/15/18(b)

     790,000        821,600  
     Shares or
Principal
Amount($)		      Value($)  

Airlines—continued

 

Air Canada Pass Through Trust, Series 2015-1, Cl C,
5.000%, 03/15/20(b)

     490,000        496,762  

American Airlines Pass Through Trust, Series 2013-2, Cl B,
5.600%, 07/15/20(b)

     3,058,065        3,161,274  

U.S. Airways Pass Through Trust, Series 2012-2, Cl B, 6.750%, 06/03/21

     2,533,640        2,742,665  

United Airlines Pass Through Trust, Series 2014-1, Cl B, 4.750%, 04/11/22

     2,944,133        3,003,016  
    

 

 

  
       10,225,317  
    

 

 

  

Auto Parts & Equipment 1.4%

 

Allison Transmission, Inc., 5.000%, 10/01/24(b)

     2,295,000        2,317,950  

American Axle & Manufacturing, Inc., 6.250%, 04/01/25(b)(d)

     1,360,000        1,361,700  

American Axle & Manufacturing, Inc., 6.500%, 04/01/27(b)

     1,360,000        1,355,743  

Deck Chassis Acquisition, Inc., 10.000%, 06/15/23(b)

     1,320,000        1,412,400  

TI Group Automotive Systems LLC, 8.750%, 07/15/23(b)

     1,080,000        1,145,697  
    

 

 

  
       7,593,490  
    

 

 

  

Banks 1.1%

 

Provident Funding Associates LP/PFG Finance Corp., 6.750%, 06/15/21(b)

     4,320,000        4,406,400  

Royal Bank of Scotland Group PLC, 8.625%(a)(e)

     1,295,000        1,350,037  
    

 

 

  
       5,756,437  
    

 

 

  

Building Materials 0.4%

 

Summit Materials LLC/Summit Materials Finance Corp., 8.500%, 04/15/22

     1,865,000        2,051,500  
    

 

 

  

Chemicals 1.7%

 

Axalta Coating Systems LLC, 4.875%, 08/15/24(b)

     1,550,000        1,588,750  

Blue Cube Spinco, Inc., 9.750%,
10/15/23(d)

     2,285,000        2,736,287  

Chemours Co. (The), 7.000%, 05/15/25(d)

     1,730,000        1,862,345  

GCP Applied Technologies, Inc., 9.500%, 02/01/23(b)

     1,005,000        1,140,675  
 

 

See Notes to Financial Statements.

 

76

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Chemicals—continued

 

Platform Specialty Products Corp., 10.375%, 05/01/21(b)

     495,000        550,688  

Valvoline, Inc., 5.500%, 07/15/24(b)(d)

     1,107,000        1,162,350  
    

 

 

  
       9,041,095  
    

 

 

  

Coal 1.6%

 

CONSOL Energy, Inc., 5.875%, 04/15/22

     1,854,000        1,833,142  

CONSOL Energy, Inc., 8.000%, 04/01/23

     3,015,000        3,169,519  

Contura Energy, Inc.,
10.000%, 08/01/21(b)(d)

     3,100,000        3,342,110  
    

 

 

  
       8,344,771  
    

 

 

  

Commercial Services 2.4%

 

Cardtronics, Inc., 5.500%, 05/01/25(b)

     1,295,000        1,309,569  

Gartner, Inc., 5.125%, 04/01/25(b)

     710,000        723,313  

Herc Rentals, Inc., 7.500%, 06/01/22(b)

     1,129,000        1,199,563  

Prime Security Services Borrower LLC/Prime Finance, Inc., 9.250%, 05/15/23(b)

     1,073,000        1,176,276  

Quad/Graphics, Inc., 7.000%, 05/01/22

     1,090,000        1,090,000  

Rent-A-Center, Inc., 4.750%, 05/01/21(d)

     1,840,000        1,508,800  

Rent-A-Center, Inc., 6.625%, 11/15/20(d)

     995,000        880,575  

Ritchie Bros Auctioneers, Inc., 5.375%, 01/15/25(b)

     1,185,000        1,211,662  

TMS International Corp., 7.625%, 10/15/21

     2,465,000        2,483,487  

United Rentals North America, Inc., 7.625%, 04/15/22(d)

     907,000        944,414  
    

 

 

  
       12,527,659  
    

 

 

  

Computers 2.7%

 

Conduent Finance, Inc./Xerox Business Services LLC, 10.500%, 12/15/24(b)

     681,000        784,852  

Dell, Inc., 6.500%, 04/15/38

     1,120,000        1,092,000  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 7.125%, 06/15/24(b)(d)

     1,200,000        1,326,575  

Harland Clarke Holdings Corp., 6.875%, 03/01/20(b)(f)

     5,195,000        5,272,925  

Harland Clarke Holdings Corp., 8.375%, 08/15/22(b)

     1,815,000        1,860,375  

Western Digital Corp., 7.375%,
04/01/23(b)

     795,000        871,519  
     Shares or
Principal
Amount($)		      Value($)  

Computers—continued

 

Western Digital Corp., 10.500%, 04/01/24

     2,780,000        3,276,925  
    

 

 

  
       14,485,171  
    

 

 

  

Distribution/Wholesale 0.3%

 

Univar USA, Inc., 6.750%, 07/15/23(b)

     1,295,000        1,343,563  
    

 

 

  

Diversified Financial Services 10.2%

 

Alliance Data Systems Corp., 5.375%, 08/01/22(b)

     1,395,000        1,405,463  

Alliance Data Systems Corp., 5.875%, 11/01/21(b)

     3,120,000        3,229,200  

Ally Financial, Inc., 5.750%, 11/20/25(d)

     1,095,000        1,121,006  

Ally Financial, Inc., 8.000%, 03/15/20

     2,268,000        2,545,830  

Ally Financial, Inc., 8.000%, 11/01/31

     470,000        558,125  

ILFC E-Capital Trust I,
4.660%, 12/21/65(a)

     5,450,000        5,150,250  

International Lease Finance Corp., 8.250%, 12/15/20

     2,155,000        2,543,340  

Jefferies Finance LLC/JFIN Co-Issuer Corp., 7.375%, 04/01/20(b)

     2,340,000        2,363,400  

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 08/01/18

     4,980,000        5,042,250  

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 07/01/21

     5,300,000        5,366,250  

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 06/01/22

     773,000        773,000  

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20

     2,055,000        2,130,778  

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19

     955,000        981,263  

Navient Corp., 5.500%, 01/15/19, MTN

     735,000        761,460  

Navient Corp., 6.500%, 06/15/22

     903,000        910,901  

Navient Corp., 8.000%, 03/25/20, MTN

     2,810,000        3,052,362  

Navient Corp., 8.450%, 06/15/18, MTN

     1,900,000        2,023,500  

Ocwen Loan Servicing LLC, 8.375%, 11/15/22(b)

     3,215,000        3,263,225  
 

 

See Notes to Financial Statements.

 

77

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Diversified Financial Services—continued

 

OneMain Financial Holdings LLC, 7.250%, 12/15/21(b)

     1,540,000        1,613,150  

Quicken Loans, Inc.,
5.750%, 05/01/25(b)(d)

     5,175,000        5,084,437  

Springleaf Finance Corp., 8.250%, 12/15/20

     1,395,000        1,524,038  

Springleaf Finance Corp., 8.250%, 10/01/23

     2,615,000        2,755,556  
    

 

 

  
       54,198,784  
    

 

 

  

Electric 1.7%

 

Calpine Corp., 5.750%, 01/15/25(d)

     900,000        894,375  

Dynegy, Inc., 6.750%, 11/01/19

     1,540,000        1,582,350  

NRG Energy, Inc., 6.250%, 07/15/22

     605,000        618,613  

NRG Energy, Inc., 6.625%, 03/15/23(d)

     660,000        675,262  

NRG Energy, Inc., 7.250%, 05/15/26

     2,235,000        2,302,050  

NRG Energy, Inc., 7.875%, 05/15/21

     807,000        829,192  

NRG Yield Operating LLC, 5.000%, 09/15/26(b)(d)

     1,350,000        1,312,875  

NRG Yield Operating LLC, 5.375%, 08/15/24(d)

     685,000        695,275  
    

 

 

  
       8,909,992  
    

 

 

  

Electrical Components & Equipment 0.3%

 

WESCO Distribution, Inc., 5.375%, 06/15/24

     1,755,000        1,798,875  
    

 

 

  

Electronics 0.3%

 

Allegion PLC, 5.875%, 09/15/23

     1,563,000        1,668,503  
    

 

 

  

Energy-Alternate Sources 0.1%

 

Enviva Partners LP/Enviva Partners Finance Corp., 8.500%, 11/01/21(b)

     520,000        551,200  
    

 

 

  

Engineering & Construction 0.3%

 

AECOM, 5.125%, 03/15/27(b)

     1,538,000        1,541,845  
    

 

 

  

Entertainment 1.7%

 

Eagle II Acquisition Co. LLC, 6.000%, 04/01/25(b)

     915,000        942,450  

EMI Music Publishing Group North America Holdings, Inc., 7.625%, 06/15/24(b)

     771,000        840,390  

Greektown Holdings LLC/Greektown Mothership Corp.,
8.875%, 03/15/19(b)(d)

     1,880,000        1,967,890  
     Shares or
Principal
Amount($)		      Value($)  

Entertainment—continued

 

Lions Gate Entertainment Corp., 5.875%, 11/01/24(b)(d)

     1,815,000        1,883,062  

Six Flags Entertainment Corp., 5.500%, 04/15/27(b)(c)

     1,310,000        1,306,725  

WMG Acquisition Corp.,
5.000%, 08/01/23(b)

     600,000        606,000  

WMG Acquisition Corp.,
5.625%, 04/15/22(b)

     1,408,000        1,457,280  
    

 

 

  
       9,003,797  
    

 

 

  

Environmental Control 0.5%

 

Covanta Holding Corp., 5.875%, 07/01/25

     570,000        571,069  

GFL Environmental, Inc., 9.875%, 02/01/21(b)

     1,759,000        1,904,117  
    

 

 

  
       2,475,186  
    

 

 

  

Food 2.5%

 

JBS USA LLC/JBS USA Finance, Inc., 5.750%, 06/15/25(b)

     1,745,000        1,762,450  

JBS USA LLC/JBS USA Finance, Inc., 8.250%, 02/01/20(b)

     2,115,000        2,167,875  

Lamb Weston Holdings, Inc., 4.625%, 11/01/24(b)

     620,000        632,400  

Pilgrim’s Pride Corp., 5.750%, 03/15/25(b)

     1,105,000        1,113,288  

Post Holdings, Inc., 5.000%, 08/15/26(b)

     1,805,000        1,728,287  

Post Holdings, Inc., 5.500%, 03/01/25(b)

     380,000        381,900  

Post Holdings, Inc., 5.750%, 03/01/27(b)

     474,000        472,815  

Post Holdings, Inc., 8.000%, 07/15/25(b)

     2,045,000        2,295,512  

U.S. Foods, Inc., 5.875%, 06/15/24(b)

     2,550,000        2,645,625  
    

 

 

  
       13,200,152  
    

 

 

  

Forest Products & Paper 0.2%

 

Resolute Forest Products, Inc., 5.875%, 05/15/23(d)

     1,127,000        1,028,388  
    

 

 

  

Gas 0.2%

 

AmeriGas Partners LP/AmeriGas Finance Corp., 5.750%, 05/20/27

     1,270,000        1,253,808  
    

 

 

  

Healthcare-Products 0.5%

 

Hologic, Inc., 5.250%, 07/15/22(b)

     1,050,000        1,101,187  
 

 

See Notes to Financial Statements.

 

78

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Healthcare-Products—continued

 

Teleflex, Inc., 5.250%, 06/15/24

     1,569,000        1,600,380  
    

 

 

  
       2,701,567  
    

 

 

  

Healthcare-Services 6.5%

 

Centene Corp., 5.625%, 02/15/21

     2,500,000        2,616,500  

Centene Corp., 6.125%, 02/15/24

     590,000        633,513  

CHS/Community Health Systems, Inc., 6.250%, 03/31/23

     950,000        966,625  

CHS/Community Health Systems, Inc., 6.875%, 02/01/22(d)

     2,115,000        1,818,900  

CHS/Community Health Systems, Inc., 8.000%, 11/15/19(d)

     2,600,000        2,551,250  

DaVita, Inc., 5.000%, 05/01/25

     3,940,000        3,949,850  

DaVita, Inc., 5.750%, 08/15/22

     2,310,000        2,390,850  

Envision Healthcare Corp., 5.625%, 07/15/22

     1,000,000        1,025,000  

HCA Holdings, Inc., 6.250%, 02/15/21(d)

     3,028,000        3,268,347  

HCA, Inc., 5.250%, 06/15/26

     1,035,000        1,089,338  

HCA, Inc., 6.500%, 02/15/20

     2,535,000        2,774,253  

HCA, Inc., 7.500%, 11/06/33

     235,000        257,031  

HCA, Inc., 7.500%, 11/15/95

     605,000        590,631  

Kindred Healthcare, Inc., 8.000%, 01/15/20

     2,415,000        2,454,244  

Kindred Healthcare, Inc., 8.750%, 01/15/23(d)

     710,000        711,775  

MEDNAX, Inc., 5.250%, 12/01/23(b)

     1,045,000        1,065,900  

Tenet Healthcare Corp., 6.000%, 10/01/20

     3,110,000        3,288,825  

WellCare Health Plans, Inc., 5.250%, 04/01/25

     1,895,000        1,939,154  

WellCare Health Plans, Inc., 5.750%, 11/15/20

     1,370,000        1,409,730  
    

 

 

  
       34,801,716  
    

 

 

  

Home Builders 3.8%

 

CalAtlantic Group, Inc., 5.875%, 11/15/24

     1,326,000        1,392,300  

Century Communities, Inc., 6.875%, 05/15/22(b)

     1,820,000        1,892,800  

Lennar Corp., 4.750%, 04/01/21

     994,000        1,036,245  

Mattamy Group Corp.,
6.500%, 11/15/20(b)

     990,000        1,017,225  
     Shares or
Principal
Amount($)		      Value($)  

Home Builders—continued

 

Mattamy Group Corp.,
6.875%, 12/15/23(b)

     490,000        508,375  

New Home Co., Inc. (The), 7.250%, 04/01/22(b)(d)

     670,000        675,025  

PulteGroup, Inc., 4.250%, 03/01/21

     1,527,000        1,568,992  

PulteGroup, Inc., 5.500%, 03/01/26

     1,920,000        1,987,200  

PulteGroup, Inc., 7.875%, 06/15/32

     400,000        449,000  

Shea Homes LP/Shea Homes Funding Corp., 5.875%, 04/01/23(b)

     1,755,000        1,763,775  

Shea Homes LP/Shea Homes Funding Corp., 6.125%, 04/01/25(b)

     1,755,000        1,763,775  

Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.250%, 04/15/21(b)

     820,000        844,600  

TRI Pointe Group, Inc., 4.875%, 07/01/21

     3,390,000        3,491,700  

TRI Pointe Group, Inc./TRI Pointe Homes, Inc., 5.875%, 06/15/24

     1,500,000        1,545,000  
    

 

 

  
       19,936,012  
    

 

 

  

Insurance 1.7%

 

MGIC Investment Corp., 5.750%, 08/15/23

     3,380,000        3,565,900  

Radian Group, Inc., 7.000%, 03/15/21

     1,877,000        2,076,431  

Sirius International Group Ltd.,
7.506%(a)(e)(f)

     3,570,000        3,641,400  
    

 

 

  
       9,283,731  
    

 

 

  

Internet 0.2%

 

Cogent Communications Group, Inc., 5.375%, 03/01/22(b)

     1,055,000        1,082,694  
    

 

 

  

Iron/Steel 0.2%

 

Steel Dynamics, Inc., 5.125%, 10/01/21

     1,010,000        1,041,563  
    

 

 

  

Leisure Time 0.8%

 

NCL Corp. Ltd., 4.625%, 11/15/20(b)

     1,295,000        1,322,519  

Silversea Cruise Finance Ltd., 7.250%, 02/01/25(b)

     1,227,000        1,288,350  

Viking Cruises Ltd., 8.500%, 10/15/22(b)

     1,580,000        1,639,250  
    

 

 

  
       4,250,119  
    

 

 

  
 

 

See Notes to Financial Statements.

 

79

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Lodging 3.5%

 

Caesars Entertainment Resort Properties LLC, 8.000%, 10/01/20(f)

     2,290,000        2,387,325  

Diamond Resorts International, Inc., 7.750%, 09/01/23(b)(d)

     1,765,000        1,844,425  

Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.500%, 07/01/19(b)

     1,680,000        1,638,000  

Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 6.125%, 12/01/24(b)

     825,000        866,250  

Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.625%, 04/01/25(b)(d)

     780,000        789,516  

Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp., 6.750%, 11/15/21(b)

     1,070,000        1,107,450  

MGM Resorts International, 6.000%, 03/15/23(d)

     2,820,000        3,045,600  

MGM Resorts International, 6.750%, 10/01/20

     1,305,000        1,435,500  

MGM Resorts International, 7.750%, 03/15/22

     4,575,000        5,278,406  
    

 

 

  
       18,392,472  
    

 

 

  

Media 6.8%

 

Altice Financing SA,
6.500%, 01/15/22(b)(d)

     2,140,000        2,242,699  

Altice Finco SA, 7.625%, 02/15/25(b)(d)

     1,675,000        1,721,062  

Altice Luxembourg SA,
7.750%, 05/15/22(b)(d)

     2,205,000        2,340,056  

Cablevision Systems Corp., 8.000%, 04/15/20(d)

     2,140,000        2,370,050  

CBS Radio, Inc., 7.250%, 11/01/24(b)(d)

     848,000        890,400  

CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 05/01/27(b)(c)

     2,640,000        2,653,200  

CCO Holdings LLC/CCO Holdings Capital Corp., 5.750%, 09/01/23

     2,485,000        2,584,400  

CCO Holdings LLC/CCO Holdings Capital Corp., 5.750%, 02/15/26(b)

     2,190,000        2,299,500  

Clear Channel Worldwide Holdings, Inc., Series B, 6.500%, 11/15/22

     1,350,000        1,404,000  
     Shares or
Principal
Amount($)		      Value($)  

Media—continued

 

CSC Holdings LLC, 6.625%, 10/15/25(b)

     1,125,000        1,223,438  

CSC Holdings LLC, 10.125%, 01/15/23(b)

     550,000        638,000  

CSC Holdings LLC, 10.875%, 10/15/25(b)

     2,275,000        2,735,687  

DISH DBS Corp., 6.750%, 06/01/21

     1,018,000        1,098,804  

DISH DBS Corp., 7.875%, 09/01/19

     3,645,000        4,018,612  

Lee Enterprises, Inc.,
9.500%, 03/15/22(b)(d)

     1,695,000        1,778,987  

SFR Group SA, 7.375%, 05/01/26(b)

     1,550,000        1,596,500  

Univision Communications, Inc., 6.750%, 09/15/22(b)

     1,495,000        1,568,240  

Viacom, Inc., 6.250%, 02/28/57(a)

     1,040,000        1,048,320  

Ziggo Bond Finance BV, 5.875%, 01/15/25(b)

     815,000        821,113  

Ziggo Secured Finance BV, 5.500%, 01/15/27(b)

     1,105,000        1,104,890  
    

 

 

  
       36,137,958  
    

 

 

  

Metal Fabricate/Hardware 0.4%

 

Grinding Media, Inc./MC Grinding Media Canada, Inc., 7.375%, 12/15/23(b)

     203,000        213,150  

Novelis Corp., 6.250%, 08/15/24(b)

     1,690,000        1,761,825  
    

 

 

  
       1,974,975  
    

 

 

  

Mining 0.7%

 

Imperial Metals Corp., 7.000%, 03/15/19

     2,314,000        2,192,515  

Kaiser Aluminum Corp., 5.875%, 05/15/24

     1,665,000        1,735,246  
    

 

 

  
       3,927,761  
    

 

 

  

Miscellaneous Manufacturer 0.7%

 

Bombardier, Inc., 7.500%, 03/15/25(b)

     1,790,000        1,834,750  

Bombardier, Inc., 7.750%, 03/15/20(b)

     490,000        523,075  

Bombardier, Inc., 8.750%, 12/01/21(b)

     1,350,000        1,478,250  
    

 

 

  
       3,836,075  
    

 

 

  

Office/Business Equipment 0.5%

 

CDW LLC/CDW Finance Corp., 5.000%, 09/01/25

     955,000        974,100  
 

 

See Notes to Financial Statements.

 

80

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Office/Business Equipment—continued

 

CDW LLC/CDW Finance Corp., 6.000%, 08/15/22

     1,730,000        1,836,949  
    

 

 

  
       2,811,049  
    

 

 

  

Oil & Gas 7.5%

 

Antero Resources Corp., 5.000%, 03/01/25(b)

     530,000        519,729  

Antero Resources Corp., 5.375%, 11/01/21

     600,000        616,254  

Antero Resources Corp., 5.625%, 06/01/23

     185,000        189,163  

Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.000%, 04/01/22(b)

     890,000        921,150  

Callon Petroleum Co.,
6.125%, 10/01/24(b)

     1,045,000        1,086,800  

Chesapeake Energy Corp., 6.875%, 11/15/20(d)

     3,675,000        3,665,812  

Chesapeake Energy Corp., 8.000%, 12/15/22(b)(d)

     4,900,000        5,132,750  

CITGO Petroleum Corp., 6.250%, 08/15/22(b)

     1,115,000        1,128,937  

Denbury Resources, Inc., 9.000%, 05/15/21(b)

     975,000        1,028,625  

Diamondback Energy, Inc., 4.750%, 11/01/24(b)

     1,045,000        1,051,166  

Diamondback Energy, Inc., 5.375%, 05/31/25(b)

     943,000        966,575  

Ensco PLC, 5.750%, 10/01/44

     1,712,000        1,292,560  

Ensco PLC, 8.000%, 01/31/24(d)

     1,145,000        1,159,312  

MEG Energy Corp.,
6.500%, 01/15/25(b)(d)

     196,000        196,000  

MEG Energy Corp., 7.000%, 03/31/24(b)

     1,640,000        1,467,800  

Nabors Industries, Inc.,
5.500%, 01/15/23(b)(d)

     1,220,000        1,245,162  

Oasis Petroleum, Inc., 7.250%, 02/01/19

     1,925,000        1,905,750  

Precision Drilling Corp.,
6.625%, 11/15/20(d)

     891,835        896,294  

Precision Drilling Corp.,
7.750%, 12/15/23(b)

     805,000        847,263  

Pride International LLC, 7.875%, 08/15/40

     875,000        809,375  

Range Resources Corp.,
5.750%, 06/01/21(b)

     2,535,000        2,598,375  

Rice Energy, Inc., 6.250%, 05/01/22

     430,000        442,900  

Rice Energy, Inc., 7.250%, 05/01/23(d)

     1,590,000        1,693,350  
     Shares or
Principal
Amount($)		      Value($)  

Oil & Gas—continued

 

Rowan Cos., Inc., 4.750%, 01/15/24

     1,705,000        1,530,237  

Rowan Cos., Inc., 4.875%, 06/01/22

     1,580,000        1,508,900  

Rowan Cos., Inc., 5.850%, 01/15/44

     1,330,000        1,024,100  

RSP Permian, Inc., 6.625%, 10/01/22

     1,055,000        1,110,388  

Seven Generations Energy Ltd., 6.750%, 05/01/23(b)(d)

     1,623,000        1,696,035  

Transocean, Inc., 6.800%, 03/15/38

     640,000        526,400  

Transocean, Inc., 7.500%, 04/15/31

     545,000        490,500  

Transocean, Inc., 9.000%, 07/15/23(b)(d)

     1,200,000        1,281,000  
    

 

 

  
       40,028,662  
    

 

 

  

Oil & Gas Services 0.8%

 

FTS International, Inc.,
8.631%, 06/15/20(a)(b)

     1,420,000        1,439,525  

SESI LLC, 6.375%, 05/01/19

     2,535,000        2,528,662  
    

 

 

  
       3,968,187  
    

 

 

  

Packaging & Containers 0.7%

 

Ardagh Packaging Finance PLC/Ardagh Holdings USA,
Inc., 4.625%, 05/15/23(b)

     1,675,000        1,687,563  

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu, 5.125%, 07/15/23(b)

     2,053,000        2,109,457  
    

 

 

  
       3,797,020  
    

 

 

  

Pharmaceuticals 1.5%

 

Endo Finance LLC/Endo Finco, Inc., 7.250%, 01/15/22(b)

     2,070,000        1,956,150  

Horizon Pharma, Inc.,
6.625%, 05/01/23(d)

     1,000,000        980,000  

Valeant Pharmaceuticals International, Inc., 6.500%, 03/15/22(b)(d)

     760,000        781,850  

Valeant Pharmaceuticals International, Inc., 7.000%, 03/15/24(b)

     1,750,000        1,795,937  

Valeant Pharmaceuticals International, Inc., 7.500%, 07/15/21(b)

     2,655,000        2,326,444  
    

 

 

  
       7,840,381  
    

 

 

  
 

 

See Notes to Financial Statements.

 

81

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Pipelines 2.1%

 

Cheniere Corpus Christi Holdings LLC, 7.000%, 06/30/24(b)

     1,075,000        1,183,844  

Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.750%, 04/01/25(b)(d)

     945,000        965,081  

Holly Energy Partners LP/Holly Energy Finance Corp., 6.000%, 08/01/24(b)

     1,415,000        1,482,213  

Rockies Express Pipeline LLC, 5.625%, 04/15/20(b)

     730,000        768,325  

Rockies Express Pipeline LLC, 6.000%, 01/15/19(b)

     2,650,000        2,762,625  

Rockies Express Pipeline LLC, 6.850%, 07/15/18(b)

     1,105,000        1,154,725  

Sabine Pass Liquefaction LLC, 5.875%, 06/30/26(b)

     1,205,000        1,328,617  

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 5.250%, 01/15/25

     504,000        526,680  

Tesoro Logistics LP/Tesoro Logistics Finance Corp., 6.125%, 10/15/21

     789,000        825,491  
    

 

 

  
       10,997,601  
    

 

 

  

Private Equity 0.5%

 

Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.000%, 08/01/20

     2,710,000        2,804,850  
    

 

 

  

Real Estate 1.4%

 

Greystar Real Estate Partners LLC, 8.250%, 12/01/22(b)

     326,000        351,673  

Howard Hughes Corp. (The), 5.375%, 03/15/25(b)(d)

     2,145,000        2,123,550  

Realogy Group LLC/Realogy Co-Issuer Corp., 4.875%, 06/01/23(b)

     1,405,000        1,373,387  

Realogy Group LLC/Realogy Co-Issuer Corp., 5.250%, 12/01/21(b)(d)

     3,329,000        3,462,160  
    

 

 

  
       7,310,770  
    

 

 

  

Real Estate Investment Trust 3.6%

 

Care Capital Properties LP, 5.125%, 08/15/26

     1,445,000        1,429,385  

iStar, Inc., 6.000%, 04/01/22(d)

     975,000        989,625  

iStar, Inc., 6.500%, 07/01/21

     3,775,000        3,878,812  

iStar, Inc., 7.125%, 02/15/18(f)

     5,030,000        5,206,050  

iStar, Inc., 9.000%, 06/01/17

     1,990,000        2,012,388  
     Shares or
Principal
Amount($)		      Value($)  

Real Estate Investment Trust—continued

 

SBA Communications Corp., 4.875%, 09/01/24(b)

     525,000        518,333  

Starwood Property Trust, Inc., 5.000%, 12/15/21(b)

     2,885,000        2,993,188  

VEREIT Operating Partnership LP, 4.125%, 06/01/21

     2,197,000        2,248,783  
    

 

 

  
       19,276,564  
    

 

 

  

Retail 1.9%

 

Dollar Tree, Inc., 5.750%, 03/01/23

     1,525,000        1,624,125  

DriveTime Automotive Group, Inc./Bridgecrest Acceptance Corp., 8.000%, 06/01/21(b)

     550,000        539,000  

L Brands, Inc., 6.750%, 07/01/36

     530,000        504,984  

Men’s Wearhouse, Inc. (The), 7.000%, 07/01/22(d)

     2,870,000        2,547,125  

New Albertsons, Inc., 7.450%, 08/01/29

     1,491,000        1,412,722  

Penske Automotive Group, Inc., 5.375%, 12/01/24

     530,000        531,325  

Rite Aid Corp., 6.125%, 04/01/23(b)(d)

     3,175,000        3,147,219  
    

 

 

  
       10,306,500  
    

 

 

  

Software 2.5%

 

Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.750%, 03/01/25(b)

     1,333,000        1,366,325  

Donnelley Financial Solutions, Inc., 8.250%, 10/15/24(b)

     1,730,000        1,786,225  

First Data Corp., 5.375%, 08/15/23(b)

     2,640,000        2,748,900  

First Data Corp., 7.000%, 12/01/23(b)(d)

     1,925,000        2,064,563  

Nuance Communications, Inc., 5.625%, 12/15/26(b)

     1,530,000        1,564,425  

Quintiles IMS, Inc., 5.000%, 10/15/26(b)

     2,015,000        2,022,556  

Quintiles Transnational Corp., 4.875%, 05/15/23(b)

     1,660,000        1,682,825  
    

 

 

  
       13,235,819  
    

 

 

  

Telecommunication Services 7.8%

 

Cincinnati Bell, Inc., 7.000%, 07/15/24(b)

     3,875,000        4,063,906  

CommScope Technologies LLC, 6.000%, 06/15/25(b)(d)

     1,665,000        1,744,088  
 

 

See Notes to Financial Statements.

 

82

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Telecommunication Services—continued

 

Frontier Communications Corp., 7.875%, 01/15/27

     610,000        500,859  

Frontier Communications Corp., 11.000%, 09/15/25

     2,105,000        2,047,113  

Intelsat Jackson Holdings SA, 8.000%, 02/15/24(b)(d)

     1,290,000        1,367,400  

Level 3 Financing, Inc., 5.125%, 05/01/23

     620,000        633,950  

Level 3 Financing, Inc., 5.375%, 08/15/22

     1,330,000        1,374,888  

Level 3 Financing, Inc., 5.375%, 05/01/25

     1,695,000        1,724,663  

Level 3 Financing, Inc., 6.125%, 01/15/21

     5,500,000        5,692,500  

Sprint Communications, Inc., 11.500%, 11/15/21

     2,810,000        3,526,550  

Sprint Corp., 7.875%, 09/15/23

     1,910,000        2,115,325  

T-Mobile USA, Inc., 6.542%, 04/28/20

     1,655,000        1,688,100  

T-Mobile USA, Inc., 6.633%, 04/28/21

     4,865,000        5,027,977  

ViaSat, Inc., 6.875%, 06/15/20(d)

     5,285,000        5,403,912  

West Corp., 4.750%, 07/15/21(b)(f)

     2,845,000        2,894,787  

West Corp., 5.375%, 07/15/22(b)

     1,860,000        1,827,450  
    

 

 

  
       41,633,468  
    

 

 

  

Transportation 0.7%

 

Florida East Coast Holdings Corp., 6.750%, 05/01/19(b)

     2,790,000        2,873,700  

Navios South American Logistics, Inc./Navios Logistics Finance U.S., Inc., 7.250%, 05/01/22(b)

     1,035,000        1,014,300  
    

 

 

  
       3,888,000  
    

 

 

  

Total Corporate Bonds
(Cost $456,819,562)

        472,265,047  
    

 

 

  

Common Stocks 0.2%

 

Oil & Gas 0.2%

     

Templar Energy LLC, Cl A*

     134,055        988,652  
    

 

 

  

Telecommunication Services 0.0%(g)

 

NII Holding, Inc.*(d)

     174,597        226,976  
    

 

 

  

Total Common Stocks
(Cost $7,727,374)

        1,215,628  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Funds 12.5%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(h)

     25,857,365        25,857,365  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(h)(i)

     40,822,863        40,822,863  
    

 

 

  

Total Money Market Funds
(Cost $66,680,228)

        66,680,228  
    

 

 

  

Total Investments
(Cost $544,928,388) — 104.1%

 

      553,808,497  

Liabilities in Excess of Other Assets — (4.1)%

        (21,689,309 ) 
    

 

 

  

Net Assets — 100.0%

      $ 532,119,188  
    

 

 

  

 

* Non-income producing security.

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(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 44.6% of net assets as of March 31, 2017.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $48,063,923.

 

(e) Perpetual maturity.

 

(f) 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.

 

(g) Less than 0.05% of Net Assets.

 

(h) Rate disclosed, the 7 day yield, is as of March 31, 2017.

 

(i) Purchased with cash collateral held from securities lending. The total value of the collateral held by the Fund was $50,035,833. The total value of the collateral includes non-cash U.S. Government securities collateral having a value of $9,212,970. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2017 (See Note 2(k)).

Investment Abbreviations

MTN — Medium Term Note

 

 

See Notes to Financial Statements.

 

83

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Investment Grade Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 90.5%  

Alabama 1.8%

 

Birmingham Special Care Facilities Financing Authority Health Care Facilities, Children’s Hospital of Alabama, RB,
6.000%, 06/01/39, Pre-refunded
06/01/2019 @ 100, AGC(a)

     9,000,000        9,927,450  
    

 

 

  

Alaska 8.4%

 

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 5.500%, 09/01/23, Pre-refunded 09/01/2019 @ 100, AGC(a)

     18,000,000        19,833,300  

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, Pre-refunded 09/01/2019 @ 100, AGC

     5,650,000        6,292,518  

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, Pre-refunded 09/01/2019 @ 100, AGC

     9,850,000        10,970,142  

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/32, Pre-refunded 09/01/2019 @ 100, AGC

     7,250,000        8,074,470  
    

 

 

  
       45,170,430  
    

 

 

  

California 20.3%

 

California Health Facilities Financing Authority, Series C, RB, 6.250%, 10/01/24, Pre-refunded 10/01/2018 @ 100

     3,500,000        3,772,335  

California Health Facilities Financing Authority, Series C, RB, 6.500%, 10/01/38, Pre-refunded 10/01/2018 @ 100(a)

     5,400,000        5,841,504  

California Infrastructure & Economic Development Bank, RB, 5.000%, 11/01/35

     2,000,000        2,267,960  
     Shares or
Principal
Amount($)		      Value($)  

California—continued

 

California Infrastructure & Economic Development Bank, Series A, RB, 1.179%, 04/01/38(b)

     3,825,000        3,824,541  

California State, GO, 5.000%, 08/01/24

     5,000,000        5,983,700  

California State, GO, 6.500%, 04/01/33(a)

     24,500,000        27,099,940  

Los Angeles California Wastewater System, Series A, RB, 5.750%, 06/01/34, Pre-refunded 06/01/2019 @ 100

     2,775,000        3,049,114  

Los Angeles California Wastewater System, Series A, RB, 5.750%, 06/01/34

     2,225,000        2,437,510  

Los Angeles Department of Airports, Series A, AMT, RB, 5.000%, 05/15/24

     3,465,000        4,047,917  

Los Angeles Department of Airports, Series A, AMT, RB, 5.000%, 05/15/25

     1,425,000        1,674,275  

Los Angeles Department of Airports, Series A, AMT, RB, 5.000%, 05/15/26

     2,500,000        2,951,150  

Los Angeles Department of Airports, Series B, AMT, RB, 5.000%, 05/15/30

     740,000        853,020  

Los Angeles Department of Airports, Series B, AMT, RB, 5.000%, 05/15/32

     1,250,000        1,426,750  

Los Angeles Department of Airports, Series B, AMT, RB, 5.000%, 05/15/33

     1,255,000        1,425,015  

Los Angeles Department of Airports, Series B, AMT, RB, 5.000%, 05/15/34

     1,000,000        1,134,620  

Los Angeles Department of Water, Series A, RB, 5.000%, 07/01/34

     2,645,000        3,055,954  

Los Angeles Department of Water, Series A, RB, 5.000%, 07/01/36

     2,000,000        2,297,440  

Metropolitan Water District of Southern California, Series A, RB, 5.000%, 07/01/28

     2,250,000        2,713,095  
 

 

See Notes to Financial Statements.

 

84

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

California—continued

 

Norman Y Mineta San Jose International Airport SJC, Series A, AMT, RB, 5.000%, 03/01/35(c)

     1,000,000        1,118,230  

Norman Y Mineta San Jose International Airport SJC, Series A, AMT, RB, 5.000%, 03/01/36(c)

     1,000,000        1,115,580  

Norman Y Mineta San Jose International Airport SJC, Series A, AMT, RB, 5.000%, 03/01/41(c)

     1,000,000        1,108,550  

Norman Y Mineta San Jose International Airport SJC, Series B, RB, 5.000%, 03/01/35(c)

     500,000        572,570  

Norman Y Mineta San Jose International Airport SJC, Series B, RB, 5.000%, 03/01/36(c)

     750,000        857,490  

San Francisco City & County Airports Commission, AMT, RB, 5.750%, 05/01/24, AGM

     2,710,000        2,846,313  

San Francisco City & County Airports Commission, AMT, RB, 5.750%, 05/01/24, Pre-refunded 05/01/2018 @ 100, AGM

     2,290,000        2,406,813  

University of California, RB, 5.000%, 05/15/34

     2,000,000        2,313,640  

University of California, RB, 5.000%, 05/15/35

     1,500,000        1,728,765  

University of California, Series O, RB, 5.750%, 05/15/27, Pre-refunded 05/15/2019 @ 100

     3,000,000        3,291,990  

University of California, Series O, RB, 5.750%, 05/15/28, Pre-refunded 05/15/2019 @ 100(a)

     10,000,000        10,973,300  

University of California, Series O, RB, 5.750%, 05/15/29, Pre-refunded 05/15/2019 @ 100(a)

     5,095,000        5,590,896  
    

 

 

  
       109,779,977  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

District of Columbia 1.6%

 

District of Columbia, Income Tax, Series A, RB, 5.500%, 12/01/30(a)

     8,000,000        8,895,520  
    

 

 

  

Florida 1.8%

 

Miami-Dade County, Building Better Communities Program, Series B, GO, 6.000%, 07/01/23, Pre-refunded 07/01/2018 @ 100

     2,000,000        2,124,400  

Miami-Dade County, Building Better Communities Program, Series B, GO, 6.125%, 07/01/25, Pre-refunded 07/01/2018 @ 100

     3,000,000        3,191,250  

Orlando FL Contract Tourist DE, Series A, RB, 5.250%, 11/01/34, Pre-refunded 05/01/2024 @ 100

     3,785,000        4,593,665  
    

 

 

  
       9,909,315  
    

 

 

  

Georgia 1.1%

 

Georgia State, Series A, GO, 5.000%, 01/01/26

     5,000,000        5,852,250  
    

 

 

  

Hawaii 1.5%

 

Hawaii State, GO, 5.000%, 11/01/29

     6,690,000        7,754,044  

Hawaii State, GO, 5.000%, 11/01/29, Pre-refunded 11/01/2022 @ 100

     60,000        70,450  
    

 

 

  
       7,824,494  
    

 

 

  

Illinois 4.3%

 

Chicago O’Hare International Airport, AMT, RB, 4.000%, 01/01/27

     2,730,000        2,832,757  

Chicago O’Hare International Airport, Series A, AMT, RB, 5.000%, 01/01/33

     2,000,000        2,170,880  

Chicago O’Hare International Airport, Series B, RB, 5.000%, 01/01/33

     6,580,000        7,329,594  

Chicago O’Hare International Airport, Series C, RB, 5.000%, 01/01/33

     1,550,000        1,736,263  

Chicago O’Hare International Airport, Series C, RB, 5.000%, 01/01/34

     1,000,000        1,116,960  
 

 

See Notes to Financial Statements.

 

85

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Illinois—continued

 

Chicago O’Hare International Airport, Series D, RB, 5.250%, 01/01/35

     5,000,000        5,766,400  

University of Illinois, Auxiliary Facilities System, Series A, RB, 5.750%, 04/01/38, Pre-refunded 04/01/2019 @ 100

     2,000,000        2,181,180  
    

 

 

  
       23,134,034  
    

 

 

  

Kansas 5.3%

 

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, RB, 5.750%, 11/15/38(a)

     26,090,000        28,597,771  
    

 

 

  

Maryland 3.1%

 

Frederick County, Series A, GO, 5.000%, 08/01/28

     3,165,000        3,853,767  

Maryland State, Series B, GO, 5.000%, 08/01/25

     5,920,000        6,894,965  

Montgomery County, Series A, GO, 5.000%, 11/01/27

     5,000,000        5,985,000  
    

 

 

  
       16,733,732  
    

 

 

  

Massachusetts 2.8%

 

Massachusetts Development Finance Agency, Series A, RB, 5.000%, 07/15/24

     4,675,000        5,644,829  

Massachusetts School Building Authority, Series C, RB, 5.000%, 08/15/36

     5,000,000        5,683,800  

Massachusetts State College Building Authority, Series B, RB, 5.000%, 05/01/34, ST INTERCEPT

     3,545,000        3,991,918  
    

 

 

  
       15,320,547  
    

 

 

  

Michigan 2.7%

 

Michigan Finance Authority, RB, 5.000%, 07/01/21

     14,000,000        14,700,840  
    

 

 

  

Missouri 0.3%

 

Metropolitan St Louis Sewer District, Series B, RB, 5.000%, 05/01/35

     1,500,000        1,722,000  
    

 

 

  

Nevada 0.3%

 

Clark County School District, Series C, GO, 5.000%, 06/15/27

     1,305,000        1,531,809  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

New York 10.3%

 

Erie County Industrial Development Agency, City School District Buffalo, Series A, RB, 5.750%, 05/01/29, Pre-refunded 05/01/2018 @ 100, BHAC-CR-AGM

     5,340,000        5,618,962  

New York City Transitional Finance Authority, Building Aid, Series S-2, RB, 6.000%, 07/15/38, State Aid Withholding(a)

     7,500,000        7,966,050  

New York City Water & Sewer System, Series A, RB, 5.750%, 06/15/40

     11,800,000        12,475,550  

New York City Water & Sewer System, Series A, RB, 5.750%, 06/15/40, Pre-refunded 06/15/2018 @ 100

     3,530,000        3,734,210  

New York State Dormitory Authority, RB, 5.000%, 03/15/28

     5,385,000        6,516,335  

New York State Dormitory Authority, Series A, RB, 5.000%, 03/15/28

     2,500,000        2,931,175  

New York State Environmental Facilities Corp., RB, 5.000%, 06/15/31(c)

     2,725,000        3,268,392  

New York State Environmental Facilities Corp., RB, 5.000%, 06/15/32(c)

     5,000,000        5,943,300  

Utility Debt Securitization Authority, Series A, RB, 5.000%, 12/15/34

     5,955,000        7,032,617  
    

 

 

  
       55,486,591  
    

 

 

  

North Carolina 0.7%

 

North Carolina Medical Care Commission, RB, 5.000%, 10/01/31(c)

     1,650,000        1,917,036  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/33(c)

     1,535,000        1,762,303  
    

 

 

  
       3,679,339  
    

 

 

  

Oregon 8.5%

 

Clackamas County School District No. 12 North Clackamas, Series B, GO, 5.000%, 06/15/32, SCH BD GTY

     3,500,000        4,134,935  
 

 

See Notes to Financial Statements.

 

86

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Oregon—continued

 

Clackamas County School District No. 12 North Clackamas, Series B, GO, 5.000%, 06/15/33, SCH BD GTY

     10,075,000        11,834,699  

Clackamas County School District No. 12 North Clackamas, Series B, GO, 5.000%, 06/15/34, SCH BD GTY

     6,755,000        7,895,987  

Oregon State, Series A, GO, 5.000%, 05/01/30

     2,660,000        3,200,326  

Oregon State, Series A, GO, 5.000%, 05/01/31

     3,010,000        3,599,870  

Oregon State, Series A, GO, 5.000%, 05/01/32

     2,500,000        2,970,525  

Oregon State, Series A, GO, 5.000%, 05/01/34

     2,000,000        2,351,480  

Oregon State, Series C, GO, 5.000%, 06/01/33

     1,745,000        2,063,899  

Port of Portland OR Airport Revenue, AMT, RB, 5.000%, 07/01/26

     750,000        886,980  

Port of Portland OR Airport Revenue, AMT, RB, 5.000%, 07/01/30

     1,000,000        1,161,520  

Port of Portland OR Airport Revenue, AMT, RB, 5.000%, 07/01/33

     1,000,000        1,141,590  

Port of Portland OR Airport Revenue, AMT, RB, 5.000%, 07/01/34

     1,000,000        1,136,230  

Port of Portland OR Airport Revenue, AMT, RB, 5.000%, 07/01/35

     1,000,000        1,130,900  

Washington Clackamas & Yamhill Counties School District No. 88J, Series B, GO, 5.000%, 06/15/31, SCH BD GTY

     2,000,000        2,378,380  
    

 

 

  
       45,887,321  
    

 

 

  

Pennsylvania 3.7%

 

Pennsylvania Economic Development Financing Authority, RB, 5.000%, 07/01/21

     7,500,000        7,739,025  

Philadelphia Gas Works Co., RB, 5.000%, 10/01/26

     2,000,000        2,311,520  
     Shares or
Principal
Amount($)		      Value($)  

Pennsylvania—continued

 

University of Pittsburgh, Commonwealth System of Higher Education, Series B, RB, 5.500%, 09/15/23, Pre-refunded 03/15/2019 @ 100, GO of University

     6,750,000        7,324,627  

University of Pittsburgh, Commonwealth System of Higher Education, Series B, RB, 5.500%, 09/15/24, Pre-refunded 03/15/2019 @ 100, GO of University

     2,500,000        2,712,825  
    

 

 

  
       20,087,997  
    

 

 

  

Texas 6.3%

 

Austin Water & Wastewater System Revenue, RB, 0.920%, 05/15/31(b)

     8,315,000        8,315,000  

Harris County, Series A, RB, 5.000%, 08/15/35

     2,000,000        2,284,220  

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB, 5.000%, 07/01/35

     7,100,000        7,517,551  

Texas State Public Finance Authority, Unemployment Comp., Series B, RB, 4.000%, 07/01/17

     10,000,000        10,028,300  

Texas Water Development Board, Series A, RB, 5.000%, 10/15/29

     5,000,000        5,906,300  
    

 

 

  
       34,051,371  
    

 

 

  

Utah 1.5%

 

Salt Lake City Corp., Airport Revenue, Series A, AMT, RB, 5.000%, 07/01/31

     2,250,000        2,597,175  

Salt Lake City Corp., Airport Revenue, Series A, AMT, RB, 5.000%, 07/01/32

     2,250,000        2,580,233  

Salt Lake City Corp., Airport Revenue, Series A, AMT, RB, 5.000%, 07/01/34

     2,500,000        2,836,675  
    

 

 

  
       8,014,083  
    

 

 

  

Virginia 1.5%

 

Virginia Resources Authority, RB, 4.000%, 11/01/35

     5,000,000        5,302,350  
 

 

See Notes to Financial Statements.

 

87

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Investment Grade Tax-Exempt Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Virginia—continued

 

Virginia Resources Authority, RB, 5.000%, 11/01/31

     2,150,000        2,553,061  
    

 

 

  
       7,855,411  
    

 

 

  

Washington 2.7%

 

Energy Northwest, RB, 5.000%, 07/01/24

     3,035,000        3,176,431  

Energy Northwest, RB, 5.000%, 07/01/24, Pre-refunded 07/01/2018 @ 100

     965,000        1,013,192  

Washington State, Series A, GO, 5.000%, 08/01/24

     8,880,000        10,172,218  
    

 

 

  
       14,361,841  
    

 

 

  

Total Municipal Bonds
(Cost $473,276,139)

        488,524,123  
    

 

 

  

Money Market Fund 9.8%

 

Federated Government Obligations Tax-Managed Fund, Institutional Shares, 0.50%(d)

     52,943,786        52,943,786  
    

 

 

  

Total Money Market Fund
(Cost $52,943,786)

        52,943,786  
    

 

 

  

Total Investments
(Cost $526,219,925) — 100.3%

 

      541,467,909  

Liabilities in Excess of Other Assets — (0.3)%

        (1,402,885 ) 
    

 

 

  

Net Assets — 100.0%

      $ 540,065,024  
    

 

 

  

 

(a) 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.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(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, 2017.

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
CR   —   Custodial Receipts
GO   —   General Obligation
RB   —   Revenue Bond
SCH BD GTY   —   School Bond Guaranty Program
ST INTERCEPT   —   State Interception

The aggregate percentage insured by Assured Guaranty Corporation was 10.2% of total investments.

 

 

See Notes to Financial Statements.

 

88

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Limited Duration Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 9.4%  

Automobiles 0.8%

 

Capital Auto Receivables Asset Trust, Series 2015-3, Cl A1A, 1.390%, 02/20/18(a)

     30,706        30,706  

Fifth Third Auto Trust, Series 2015-1, Cl A2B, 1.462%, 05/15/18(b)

     22,410        22,413  
    

 

 

  
       53,119  
    

 

 

  

Credit Card 7.5%

 

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A, 1.362%, 07/15/22(b)

     300,000        300,690  

MBNA Credit Card Master Note Trust, Series 2004-A3, Cl A3, 1.172%, 08/16/21(b)

     200,000        200,431  
    

 

 

  
       501,121  
    

 

 

  

Student Loan Asset Backed Security 1.1%

 

NCUA Guaranteed Notes, Series 2010-A1, Cl A, 1.208%, 12/07/20(b)

     73,845        73,845  
    

 

 

  

Total Asset-Backed Securities
(Cost $624,856)

        628,085  
    

 

 

  

Collateralized Mortgage Obligations 71.1%

 

Agency Collateralized Mortgage Obligations 48.7%

 

Federal Home Loan Mortgage Corporation

     

Series 3066, Cl FG, REMIC, 1.112%, 03/15/24(b)

     690,257        692,518  
    

 

 

  

Federal National Mortgage Association

     

Series 2004-79, Cl FM, REMIC, 1.282%, 11/25/24(b)

     514,071        515,741  
    

 

 

  

NCUA Guaranteed Notes

     

Series 2010-R1, Cl 1A, 1.432%, 10/07/20(b)

     990,344        991,427  

Series 2010-R3, Cl 1A, 1.337%, 12/08/20(b)

     344,483        345,877  

Series 2010-R3, Cl 2A, 1.337%, 12/08/20(b)

     406,287        408,326  

Series 2011-R1, Cl 1A, 1.304%, 01/08/20(b)

     155,719        155,957  

Series 2011-R3, Cl 1A, 1.291%, 03/11/20(b)

     135,106        135,185  
    

 

 

  
       2,036,772  
    

 

 

  

Commercial Mortgage Backed Securities 22.4%

 

Federal Home Loan Mortgage Corporation

     

Series KS02, Cl A, 1.362%, 08/25/23(b)

     279,128        279,297  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

 

Federal National Mortgage Association

     

Series 2012-M11, Cl FA, 1.184%, 08/25/19(b)

     122,090        121,705  

Series 2015-M4, Cl FA, 0.979%, 09/25/18(b)

     205,086        205,093  

Series 2016-M9, Cl FA, 1.269%, 09/25/23(b)

     745,709        746,127  
    

 

 

  
       1,072,925  
    

 

 

  

WFRBS Commercial Mortgage Trust

     

Series 2012-C8, Cl AFL, 1.943%,
08/15/45(a)(b)

     135,000        136,377  
    

 

 

  
       1,488,599  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $4,723,317)

        4,733,630  
    

 

 

  

U.S. Government Agency Mortgages 20.0%

 

Federal National Mortgage Association

     

Pool #AM6261, 0.999%, 07/01/19(b)

     620,000        619,296  

Pool #AM7028, 1.019%, 10/01/19(b)

     485,000        484,486  

Pool #AN3539, 1.249%, 11/01/21(b)

     228,485        228,419  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $1,333,200)

        1,332,201  
    

 

 

  

Money Market Fund 0.3%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     19,970        19,970  
    

 

 

  

Total Money Market Fund
(Cost $19,970)

        19,970  
    

 

 

  

Total Investments
(Cost $6,701,343) — 100.8%

        6,713,886  

Liabilities in Excess of Other Assets — (0.8)%

        (52,750 ) 
    

 

 

  

Net Assets — 100.0%

      $ 6,661,136  
    

 

 

  

 

(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 2.5% of net assets as of March 31, 2017.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviation

REMIC — Real Estate Mortgage Investment Conduit

 

 

See Notes to Financial Statements.

 

89

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix North Carolina Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 98.3%  

Guam 5.6%

 

Guam Power Authority, Series A, RB, 5.000%, 10/01/44, AGM

     1,000,000        1,094,740  

Territory of Guam, Series A, RB, 5.000%, 12/01/46

     220,000        234,573  
    

 

 

  
       1,329,313  
    

 

 

  

North Carolina 89.5%

 

Buncombe County Metropolitan Sewerage District, RB, 5.000%, 07/01/39

     1,000,000        1,122,470  

Cape Fear Public Utility Authority, RB, 5.000%, 08/01/23, Pre-refunded 08/01/2018 @ 100

     1,000,000        1,053,630  

Charlotte Airport Revenue, RB, 5.000%, 07/01/26

     1,000,000        1,183,360  

Charlotte Airport Revenue, Series B, AMT, RB, 5.500%, 07/01/23

     700,000        779,268  

Charlotte-Mecklenburg Hospital Authority (The), Series A, RB, 5.250%, 01/15/42

     1,000,000        1,104,120  

Forsyth County, GO, 5.000%, 02/01/22, Pre-refunded 02/01/2019 @ 100

     750,000        803,707  

Mecklenburg County, Series A, GO, 5.000%, 09/01/24

     1,000,000        1,209,630  

North Carolina Capital Facilities Finance Agency, RB, 5.000%, 04/01/30

     1,000,000        1,113,430  

North Carolina Capital Facilities Finance Agency, RB, 5.250%, 03/01/33

     1,000,000        1,072,590  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/26(a)

     900,000        1,068,777  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/35(a)

     1,125,000        1,279,372  

North Carolina Medical Care Commission Health Care Facilities, University Health Systems, Series D, RB, 6.250%, 12/01/33, Pre-refunded 12/01/2018 @ 100(b)

     1,500,000        1,626,840  
     Shares or
Principal
Amount($)		      Value($)  

North Carolina—continued

 

North Carolina Municipal Power Agency No. 1, Series A, RB, 5.000%, 01/01/30

     290,000        307,615  

North Carolina Municipal Power Agency No. 1, Series A, RB, 5.000%, 01/01/30, Pre-refunded 01/01/2019 @ 100

     710,000        757,982  

North Carolina State Ports Authority Facilities, Series A, RB, 5.250%,
02/01/40(b)

     1,000,000        1,084,590  

North Carolina Turnpike Authority, RB, 5.000%, 01/01/32

     750,000        848,175  

Pitt County, RB, 5.000%, 04/01/28(b)

     1,000,000        1,175,110  

Raleigh Durham Airport Authority, Series A, AMT, RB, 5.000%, 05/01/36

     1,000,000        1,132,850  

University of North Carolina at Charlotte, RB, 5.000%, 04/01/45(b)

     1,000,000        1,119,420  

Wake County, GO, 5.000%, 09/01/18

     500,000        528,565  

Wake County, Series A, GO, 4.000%, 02/01/27

     1,000,000        1,090,630  
    

 

 

  
       21,462,131  
    

 

 

  

South Carolina 3.2%

 

South Carolina State Public Service Authority, Series A, RB, 5.750%, 12/01/43

     700,000        774,039  
    

 

 

  

Total Municipal Bonds
(Cost $22,895,444)

        23,565,483  
    

 

 

  

Money Market Fund 11.0%

 

Federated Government Obligations Tax-Managed Fund, Institutional Shares, 0.50%(c)

     2,642,353        2,642,353  
    

 

 

  

Total Money Market Fund
(Cost $2,642,353)

        2,642,353  
    

 

 

  

Total Investments
(Cost $25,537,797) — 109.3%

        26,207,836  

Liabilities in Excess of Other Assets — (9.3)%

        (2,224,619 ) 
    

 

 

  

Net Assets — 100.0%

      $ 23,983,217  
    

 

 

  
 

 

See Notes to Financial Statements.

 

90

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix North Carolina Tax-Exempt Bond Fund — concluded

 

 

(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, 2017.

Investment Abbreviations

 

AGM   —   Security guaranteed by Assured Guaranty Municipal Corporation
AMT   —   Income subject to Alternative Minimum Tax
GO   —   General Obligation
RB   —   Revenue Bond
 

 

See Notes to Financial Statements.

 

91

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Short-Term Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 12.5%  

Auto Floor Plan 1.6%

 

Mercedes-Benz Master Owner Trust, Series 2016-AA, Cl A, 1.492%,
05/15/20(a)(b)

     510,000        512,013  

Nissan Master Owner Trust Receivables, Series 2016-A, Cl A2, 1.540%, 06/15/21

     355,000        352,309  
    

 

 

  
       864,322  
    

 

 

  

Automobiles 1.9%

 

AmeriCredit Automobile Receivables Trust, Series 2014-2, Cl B, 1.600%, 07/08/19

     480,000        480,320  

Ford Credit Auto Owner Trust/Ford Credit, Series 2014-1, Cl A, 2.260%, 11/15/25(a)

     550,000        554,561  
    

 

 

  
       1,034,881  
    

 

 

  

Credit Card 5.8%

 

BA Credit Card Trust, Series 2015-A2, Cl A, 1.360%, 09/15/20

     490,000        489,500  

Barclays Dryrock Issuance Trust, Series 2016-1, Cl A, 1.520%, 05/16/22

     505,000        500,572  

Capital One Multi-Asset Execution Trust, Series 2014-A5, Cl A5, 1.480%, 07/15/20

     325,000        325,309  

Capital One Multi-Asset Execution Trust, Series 2015-A1, Cl A1, 1.390%, 01/15/21

     312,000        311,859  

Chase Issuance Trust, Series 2014-A7, Cl A, 1.380%, 11/15/19

     500,000        500,236  

Discover Card Execution Note Trust, Series 2013-A1, Cl A1, 1.212%,
08/17/20(b)

     272,000        272,476  

Discover Card Execution Note Trust, Series 2016-A1, Cl A1, 1.640%, 07/15/21

     275,000        274,940  

Trillium Credit Card Trust II, Series 2016-1A, Cl A, 1.702%, 05/26/21(a)(b)

     255,000        256,188  

World Financial Network Credit Card Master Trust, Series 2016-B, Cl A, 1.440%, 06/15/22

     310,000        309,154  
    

 

 

  
       3,240,234  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Other 3.2%

 

AEP Texas Central Transition Funding III LLC, Series 2012-1, Cl A1, 0.880%, 12/01/18

     87,074        86,989  

CenterPoint Energy Transition Bond Co. IV LLC, Series 2012-1, Cl A1, 0.901%, 04/15/18

     51,546        51,537  

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%,
01/25/42(a)

     216,727        219,551  

FirstEnergy Ohio PIRB Special Purpose Trust, Series 2013-1, Cl A2, 1.726%, 01/15/22

     403,197        401,642  

Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2010-ELL, CI A3, RB, 3.450%, 02/01/22

     463,030        471,563  

Ohio Phase-In-Recovery Funding LLC, Series 2013-1, Cl A1, 0.958%, 07/01/18

     81,210        81,116  

Verizon Owner Trust, Series 2016-1A, Cl A, 1.420%, 01/20/21(a)

     500,000        496,934  
    

 

 

  
       1,809,332  
    

 

 

  

Total Asset-Backed Securities
(Cost $6,965,765)

        6,948,769  
    

 

 

  

Collateralized Mortgage Obligations 6.0%

 

Agency Collateralized Planned Amortization Class Mortgage Obligations 1.1%

 

Federal Home Loan Mortgage Corporation

     

Series 3786, Cl EB, REMIC, 4.000%, 08/15/35

     220,284        225,486  

Series 3971, Cl PG, REMIC, 2.500%, 12/15/26

     407,978        411,585  
    

 

 

  
       637,071  
    

 

 

  

Commercial Mortgage Backed Securities 4.9%

 

CSMC Trust

     

Series 2014-TIKI, Cl A, 1.862%,
09/15/38(a)(b)

     570,000        568,456  
    

 

 

  

Federal Home Loan Mortgage Corporation

     

Series K707, Cl A2, 2.220%, 12/25/18

     230,000        231,861  

Series K712, Cl A2, 1.869%, 11/25/19

     240,000        239,949  
    

 

 

  
       471,810  
    

 

 

  
 

 

See Notes to Financial Statements.

 

92

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix Short-Term Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

 

GS Mortgage Securities Trust

     

Series 2013-GC14, Cl A1, 1.217%, 08/10/46

     12,198        12,187  
    

 

 

  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2011-C3, Cl A3, 4.388%, 02/15/46(a)

     282,230        288,243  

Series 2013-C13, Cl A1, 1.303%, 01/15/46

     37,640        37,618  
    

 

 

  
       325,861  
    

 

 

  

Morgan Stanley Bank of America Merrill Lynch Trust

     

Series 2013-C12, Cl A1, 1.313%, 10/15/46

     228,829        228,401  

Series 2014-C14, Cl A1, 1.250%, 02/15/47

     78,448        78,130  
    

 

 

  
       306,531  
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2012-C4, Cl A3, 2.991%, 03/15/45

     169,199        172,338  
    

 

 

  

WFRBS Commercial Mortgage Trust

     

Series 2012-C10, Cl A2, 1.765%, 12/15/45

     518,054        520,104  

Series 2012-C8, Cl A2, 1.881%, 08/15/45

     337,710        337,692  
    

 

 

  
       857,796  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $3,359,280)

        3,352,050  
    

 

 

  

Corporate Bonds 30.2%

 

Aerospace/Defense 1.4%

 

Boeing Co. (The), 1.164%, 10/30/17(b)

     530,000        530,340  

Lockheed Martin Corp., 1.850%, 11/23/18

     265,000        265,734  
    

 

 

  
       796,074  
    

 

 

  

Auto Manufacturers 2.9%

 

BMW U.S. Capital LLC, 1.500%, 04/11/19(a)

     355,000        352,583  

General Motors Financial Co., Inc., 2.400%, 05/09/19

     821,000        822,766  

PACCAR Financial Corp., 1.450%, 03/09/18, MTN

     239,000        239,145  

PACCAR Financial Corp., 1.700%, 12/06/18, MTN(b)

     200,000        201,577  
    

 

 

  
       1,616,071  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Banks 4.4%

 

Bank of Montreal, 2.100%, 12/12/19, MTN

     550,000        551,989  

Citigroup, Inc., 2.500%, 09/26/18

     550,000        554,917  

Goldman Sachs Group, Inc. (The), 5.950%, 01/18/18

     783,000        808,582  

JPMorgan Chase & Co., 6.125%, 06/27/17

     558,000        563,858  
    

 

 

  
       2,479,346  
    

 

 

  

Beverages 0.5%

 

Molson Coors Brewing Co., 1.450%, 07/15/19

     257,000        253,674  
    

 

 

  

Biotechnology 0.6%

 

Celgene Corp., 2.125%, 08/15/18

     309,000        310,245  
    

 

 

  

Chemicals 1.1%

 

Chevron Phillips Chemical Co. LLC, 1.700%, 05/01/18(a)

     602,000        602,157  
    

 

 

  

Computers 2.2%

 

Apple, Inc., 1.550%, 02/08/19

     562,000        563,015  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 3.480%, 06/01/19(a)

     641,000        656,840  
    

 

 

  
       1,219,855  
    

 

 

  

Diversified Financial Services 0.5%

 

Air Lease Corp., 2.625%, 09/04/18

     266,000        268,230  
    

 

 

  

Electric 1.2%

 

Duke Energy Corp., 1.378%, 04/03/17(b)

     141,000        141,000  

Emera U.S. Finance LP, 2.150%, 06/15/19

     527,000        526,841  
    

 

 

  
       667,841  
    

 

 

  

Electronics 0.9%

 

Fortive Corp., 1.800%, 06/15/19(a)

     480,000        477,013  
    

 

 

  

Healthcare-Products 1.4%

 

Becton Dickinson and Co., 1.800%, 12/15/17

     265,000        265,198  

Medtronic, Inc., 1.500%, 03/15/18

     498,000        498,123  
    

 

 

  
       763,321  
    

 

 

  

Housewares 0.8%

 

Newell Brands, Inc., 2.600%, 03/29/19

     424,000        429,242  
    

 

 

  

Insurance 0.5%

 

Berkshire Hathaway Finance Corp., 1.700%, 03/15/19

     266,000        266,460  
    

 

 

  
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix Short-Term Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Internet 0.4%

 

eBay, Inc., 2.500%, 03/09/18

     222,000        223,688  
    

 

 

  

Machinery-Diversified 0.9%

 

John Deere Capital Corp., 1.350%, 01/16/18, MTN

     528,000        528,347  
    

 

 

  

Miscellaneous Manufacturer 1.0%

 

Siemens Financieringsmaatschappij NV, 2.200%, 03/16/20(a)

     577,000        579,124  
    

 

 

  

Oil & Gas 3.0%

 

Chevron Corp., 1.365%, 03/02/18

     552,000        551,681  

Exxon Mobil Corp., 1.305%, 03/06/18

     553,000        552,558  

Shell International Finance BV, 1.375%, 09/12/19

     555,000        548,364  
    

 

 

  
       1,652,603  
    

 

 

  

Oil & Gas Services 0.8%

 

Schlumberger Holdings Corp., 1.900%, 12/21/17(a)

     461,000        461,812  
    

 

 

  

Pipelines 1.2%

 

Kinder Morgan, Inc., 2.000%, 12/01/17

     519,000        519,378  

Spectra Energy Partners LP, 2.950%, 09/25/18

     158,000        160,089  
    

 

 

  
       679,467  
    

 

 

  

Real Estate Investment Trust 0.4%

 

American Tower Corp., 4.500%, 01/15/18

     225,000        229,801  
    

 

 

  

Retail 0.5%

 

CVS Health Corp., 1.900%, 07/20/18

     306,000        306,605  
    

 

 

  

Semiconductors 1.2%

 

Broadcom Corp./Broadcom Cayman Finance Ltd., 2.375%, 01/15/20(a)

     483,000        482,942  

TSMC Global Ltd., 1.625%, 04/03/18(a)

     200,000        199,492  
    

 

 

  
       682,434  
    

 

 

  

Telecommunication Services 1.4%

 

AT&T, Inc., 5.500%, 02/01/18

     488,000        503,163  

Verizon Communications, Inc., 1.375%, 08/15/19

     258,000        254,051  
    

 

 

  
       757,214  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Transportation 1.0%

 

Canadian National Railway Co., 1.206%, 11/14/17(b)

     554,000        554,327  
    

 

 

  

Total Corporate Bonds
(Cost $16,787,671)

        16,804,951  
    

 

 

  

U.S. Government Agency Mortgages 6.2%

 

Federal Home Loan Mortgage Corporation

     

Pool #J28472, 3.000%, 06/01/24

     932,966        959,434  
    

 

 

  

Federal National Mortgage Association

     

Pool #471989, 2.010%, 07/01/19

     227,297        228,160  

Pool #AM0186, 1.910%, 08/01/19

     227,520        227,846  

Pool #AH0967, 3.500%, 12/01/25

     1,923,385        2,011,411  
    

 

 

  
       2,467,417  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $3,410,242)

        3,426,851  
    

 

 

  

U.S. Treasury Obligations 44.1%

 

U.S. Treasury Inflation Indexed Bond 6.6%

 

0.125%, 04/15/20

     3,601,774        3,655,480  
    

 

 

  

U.S. Treasury Notes 37.5%

 

1.500%, 05/31/19

     1,951,000        1,959,460  

0.750%, 08/15/19

     1,466,000        1,445,326  

1.500%, 10/31/19

     9,802,000        9,821,908  

1.375%, 02/29/20

     7,665,000        7,635,957  
    

 

 

  
       20,862,651  
    

 

 

  

Total U.S. Treasury Obligations
(Cost $24,535,103)

        24,518,131  
    

 

 

  

Money Market Fund 0.4%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     254,053        254,053  
    

 

 

  

Total Money Market Fund
(Cost $254,053)

        254,053  
    

 

 

  

Total Investments
(Cost $55,312,114) — 99.4%

        55,304,805  

Other Assets in Excess of Liabilities — 0.6%

        337,658  
    

 

 

  

Net Assets — 100.0%

      $ 55,642,463  
    

 

 

  
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix Short-Term 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 12.1% of net assets as of March 31, 2017.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

MTN   —   Medium Term Note
PIRB   —   Phase-in-Recovery Bonds
RB   —   Revenue Bond
REMIC   —   Real Estate Mortgage Investment Conduit
 

 

See Notes to Financial Statements.

 

95

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix Short-Term Municipal Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 96.3%  

Alabama 4.7%

 

Baldwin County Board of Education, RB, 5.000%, 06/01/19

     1,250,000        1,351,637  
    

 

 

  

California 11.5%

 

California Infrastructure & Economic Development Bank, Series A, RB, 1.179%, 04/01/38

     1,250,000        1,249,850  

California Municipal Finance Authority, Series A, RB, 4.000%, 06/01/21

     200,000        211,470  

California State, GO, 5.000%, 08/01/17

     1,000,000        1,014,200  

California State, GO, 5.000%, 08/01/23

     500,000        591,415  

Los Angeles County Regional Financing Authority, Series B-1, RB, 3.000%, 11/15/21, CA MTG INS

     205,000        205,320  
    

 

 

  
       3,272,255  
    

 

 

  

District of Columbia 3.8%

 

District of Columbia Water & Sewer Authority, Series A, RB, 6.000%, 10/01/35, Pre-refunded 10/01/2018 @ 100

     1,000,000        1,074,330  
    

 

 

  

Illinois 5.6%

 

Chicago O’Hare International Airport, RB, 5.000%, 01/01/19

     1,500,000        1,599,195  
    

 

 

  

Maryland 1.8%

 

Maryland State Transportation Authority, Transportation Facilities Project, RB, 5.000%, 07/01/23(a)

     500,000        524,135  
    

 

 

  

Massachusetts 3.6%

 

Commonwealth of Massachusetts, Series C, GO, 5.000%, 08/01/27, Pre-refunded 08/01/2017 @ 100, AGM

     1,000,000        1,013,970  
    

 

 

  

Michigan 4.0%

 

Michigan State, RB, 5.000%, 03/15/22

     1,000,000        1,150,230  
    

 

 

  

Missouri 4.5%

 

Missouri State Board of Public Buildings, Series B, RB, 4.000%, 04/01/18

     1,235,000        1,273,347  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Nevada 3.5%

 

Clark County Department of Aviation, Series B, AMT, RB, 5.000%, 07/01/17

     1,000,000        1,010,170  
    

 

 

  

New Jersey 3.7%

 

New Jersey Transportation Trust Fund Authority, RB, 5.000%, 06/15/19

     1,000,000        1,054,100  
    

 

 

  

North Carolina 9.8%

 

North Carolina Medical Care Commission, RB, 5.000%, 10/01/18(b)

     745,000        777,177  

North Carolina Turnpike Authority, RB, 5.000%, 01/01/22

     350,000        395,815  

North Carolina Turnpike Authority, RB, 5.000%, 01/01/23

     500,000        570,860  

Raleigh Combined Enterprise System Revenue, Series B, RB, 5.000%, 12/01/18

     1,000,000        1,065,850  
    

 

 

  
       2,809,702  
    

 

 

  

Ohio 8.9%

 

Crawford County, RB, 1.430%, 11/01/17

     2,000,000        2,000,760  

Ohio State, RB, 5.000%, 12/15/19

     500,000        550,100  
    

 

 

  
       2,550,860  
    

 

 

  

Pennsylvania 3.7%

 

Philadelphia Gas Works Co., RB, 5.000%, 10/01/18

     1,000,000        1,054,480  
    

 

 

  

Rhode Island 8.0%

 

State of Rhode Island, GO, 5.000%,
08/01/18(a)

     2,150,000        2,268,465  
    

 

 

  

Texas 11.1%

 

Austin Independent School District, GO, 5.000%, 08/01/33, Pre-refunded
08/01/2018 @ 100

     1,000,000        1,052,950  

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB,
4.000%, 04/01/17, AGM

     200,000        200,000  

New Hope Cultural Education Facilities Financing Corp., Student Housing Corp., Series A, RB,
4.000%, 04/01/18, AGM

     200,000        204,884  
 

 

See Notes to Financial Statements.

 

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix Short-Term Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Texas—continued

 

Nueces River Authority, RB, 3.000%, 07/15/17

     1,000,000        1,006,310  

Texas Public Finance Authority, Series B, RB, 4.000%, 01/01/18(a)

     695,000        696,869  
    

 

 

  
       3,161,013  
    

 

 

  

Washington 8.1%

 

Port of Seattle, AMT, GO, 5.250%, 12/01/20

     1,030,000        1,169,112  

Tacoma Sewer Revenue, Series B, RB, 5.000%, 12/01/20

     1,000,000        1,128,840  
    

 

 

  
       2,297,952  
    

 

 

  

Total Municipal Bonds
(Cost $27,435,729)

        27,465,841  
    

 

 

  

Money Market Fund 5.8%

 

Federated Government Obligations Tax-Managed Fund, Institutional Shares, 0.50%(c)

     1,647,224        1,647,224  
    

 

 

  

Total Money Market Fund
(Cost $1,647,224)

        1,647,224  
    

 

 

  

Total Investments
(Cost $29,082,953) — 102.1%

        29,113,065  

Liabilities in Excess of Other Assets — (2.1)%

        (592,623 ) 
    

 

 

  

Net Assets — 100.0%

      $ 28,520,442  
    

 

 

  

 

(a) 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.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

AGM   —   Security guaranteed by Assured Guaranty Municipal Corporation
AMT   —   Income subject to Alternative Minimum Tax
CA MTG INS   —   California Mortgage Insurance
GO   —   General Obligation
RB   —   Revenue Bond
 

 

See Notes to Financial Statements.

 

97

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 4.1%  

Automobiles 0.7%

 

Ford Credit Auto Owner Trust, Series 2014-2, Cl A, 2.310%, 04/15/26(a)

     4,485,000        4,522,943  

Ford Credit Auto Owner Trust/Ford Credit, Series 2014-1, Cl A, 2.260%, 11/15/25(a)

     1,950,000        1,966,171  
    

 

 

  
       6,489,114  
    

 

 

  

Credit Card 1.6%

 

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A, 1.362%, 07/15/22(b)

     6,349,000        6,363,610  

Capital One Multi-Asset Execution Trust, Series 2005-B3, Cl B3, 1.573%, 05/15/28(b)

     1,632,000        1,570,977  

Master Credit Card Trust II, Series 2017-1A, Cl A, 2.260%, 07/21/21(a)

     4,140,000        4,163,990  

World Financial Network Credit Card Master Trust, Series 2016-B, Cl A, 1.440%, 06/15/22

     3,300,000        3,290,994  
    

 

 

  
       15,389,571  
    

 

 

  

Other 1.8%

 

DB Master Finance LLC, Series 2015-1A, Cl A2II, 3.980%, 02/20/45(a)

     4,169,900        4,237,965  

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(a)

     4,683,028        4,744,061  

Taco Bell Funding LLC, Series 2016-1A, Cl A2I, 3.832%, 05/25/46(a)

     4,950,125        5,018,016  

Verizon Owner Trust, Series 2016-1A, Cl A, 1.420%, 01/20/21(a)

     3,955,000        3,930,744  
    

 

 

  
       17,930,786  
    

 

 

  

Total Asset-Backed Securities
(Cost $39,511,665)

        39,809,471  
    

 

 

  

Collateralized Mortgage Obligations 4.9%

 

Commercial Mortgage Backed Securities 4.9%

 

Federal Home Loan Mortgage Corporation

     

Series K021, Cl X1, IO 1.478%, 06/25/22(b)

     18,893,500        1,195,433  

Series K027, Cl X1, IO 0.816%, 01/25/23(b)

     59,044,161        2,243,690  
    

 

 

  
       3,439,123  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

 

Federal National Mortgage Association

     

Series 2017-M3, Cl A2, 2.569%, 12/25/26(b)

     5,265,000        5,050,700  
    

 

 

  

FREMF Mortgage Trust

     

Series 2012-K21, Cl B, 3.938%, 07/25/45(a)(b)

     2,320,000        2,407,604  

Series 2013-K25, Cl B, 3.619%, 11/25/45(a)(b)

     2,980,000        3,045,639  

Series 2013-K713, Cl B, 3.166%, 04/25/46(a)(b)

     1,925,000        1,953,082  

Series 2016-K52, Cl B, 3.922%, 01/25/49(a)(b)

     3,170,000        3,137,783  
    

 

 

  
       10,544,108  
    

 

 

  

GS Mortgage Securities Corp. II

     

Series 2012-BWTR, Cl B, 3.255%, 11/05/34(a)

     2,890,000        2,927,584  
    

 

 

  

GS Mortgage Securities Trust

     

Series 2010-C1, Cl A2, 4.592%, 08/10/43(a)

     3,822,000        4,049,115  
    

 

 

  

Morgan Stanley Capital I Trust

     

Series 2014-CPT, Cl A, 3.350%, 07/13/29(a)

     2,285,000        2,365,031  

Series 2014-CPT, Cl AM, 3.402%, 07/13/29(a)(b)

     2,530,000        2,584,661  
    

 

 

  
       4,949,692  
    

 

 

  

Queens Center Mortgage Trust

     

Series 2013-QCA, Cl A, 3.275%, 01/11/37(a)

     1,185,000        1,192,250  
    

 

 

  

VNDO 2013-PENN Mortgage Trust

     

Series 2013-PENN, Cl A, 3.808%, 12/13/29(a)

     5,275,000        5,529,491  
    

 

 

  

WFRBS Commercial Mortgage Trust

     

Series 2012-C10, Cl AS, 3.241%, 12/15/45

     4,040,000        4,093,291  

Series 2012-C8, Cl AFL, 1.943%, 08/15/45(a)(b)

     5,585,000        5,641,959  
    

 

 

  
       9,735,250  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $47,309,788)

        47,417,313  
    

 

 

  

Corporate Bonds 23.9%

 

Aerospace/Defense 0.6%

 

L-3 Communications, Inc., 3.850%, 12/15/26

     1,262,000        1,279,556  
 

 

See Notes to Financial Statements.

 

98

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Aerospace/Defense—continued

 

Rockwell Collins, Inc., 3.500%,
03/15/27(c)

     4,248,000        4,249,227  
    

 

 

  
       5,528,783  
    

 

 

  

Agriculture 0.2%

 

Japan Tobacco, Inc., 2.100%,
07/23/18(a)

     1,852,000        1,860,102  
    

 

 

  

Airlines 0.1%

 

United Airlines Pass Through Trust, Series 2016-1, Cl A, 3.450%, 07/07/28

     1,377,000        1,349,460  
    

 

 

  

Auto Manufacturers 0.6%

 

Daimler Finance North America LLC, 2.250%, 03/02/20(a)

     1,280,000        1,279,217  

General Motors Co., 5.200%, 04/01/45

     4,357,000        4,270,788  
    

 

 

  
       5,550,005  
    

 

 

  

Banks 6.2%

 

Bank of America Corp., 3.124%, 01/20/23, MTN(b)

     5,000,000        5,025,695  

Bank of New York Mellon Corp. (The), 3.000%, 10/30/28, MTN

     1,780,000        1,693,647  

Barclays PLC, 4.337%, 01/10/28

     2,086,000        2,081,884  

Citigroup, Inc., 4.750%, 05/18/46

     2,714,000        2,681,101  

Credit Suisse Group AG, 3.574%, 01/09/23(a)

     1,383,000        1,380,814  

Credit Suisse Group AG, 4.282%, 01/09/28(a)

     3,100,000        3,086,518  

Goldman Sachs Group, Inc. (The), 3.850%, 01/26/27

     2,563,000        2,575,500  

Lloyds Banking Group PLC, 3.750%, 01/11/27

     3,574,000        3,513,496  

Morgan Stanley, 2.625%, 11/17/21, MTN

     1,501,000        1,491,108  

Morgan Stanley, 3.125%, 07/27/26, MTN

     6,246,000        5,961,651  

Morgan Stanley, 3.625%, 01/20/27

     1,844,000        1,830,531  

Morgan Stanley, 4.375%, 01/22/47

     2,541,000        2,542,840  

PNC Bank NA, 2.150%, 04/29/21, MTN

     1,221,000        1,209,005  

Regions Bank, 2.250%, 09/14/18

     845,000        847,603  

Royal Bank of Scotland Group PLC, 3.875%, 09/12/23

     10,209,000        10,061,582  
     Shares or
Principal
Amount($)		      Value($)  

Banks—continued

 

U.S. Bancorp, 2.625%, 01/24/22, MTN

     3,396,000        3,408,817  

U.S. Bancorp, 5.300%(b)(d)

     2,576,000        2,624,300  

Wells Fargo & Co., 3.069%, 01/24/23

     4,309,000        4,335,207  

Westpac Banking Corp., 4.322%, 11/23/31, MTN(b)

     2,871,000        2,901,168  
    

 

 

  
       59,252,467  
    

 

 

  

Beverages 0.2%

 

Molson Coors Brewing Co., 4.200%, 07/15/46

     1,846,000        1,728,616  
    

 

 

  

Biotechnology 0.2%

 

Celgene Corp., 4.625%, 05/15/44

     819,000        812,277  

Celgene Corp., 5.000%, 08/15/45

     961,000        1,005,893  
    

 

 

  
       1,818,170  
    

 

 

  

Building Materials 0.2%

 

Johnson Controls International PLC, 4.500%, 02/15/47

     2,231,000        2,264,378  
    

 

 

  

Commercial Services 0.2%

 

ERAC USA Finance LLC, 4.500%, 02/15/45(a)

     851,000        813,660  

ERAC USA Finance LLC, 5.250%, 10/01/20(a)

     1,149,000        1,245,138  
    

 

 

  
       2,058,798  
    

 

 

  

Computers 0.9%

 

Apple, Inc., 4.250%, 02/09/47

     2,215,000        2,250,526  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 8.350%, 07/15/46(a)

     3,110,000        4,016,553  

Everett Spinco, Inc., 4.250%,
04/15/24(a)

     1,973,000        2,006,200  
    

 

 

  
       8,273,279  
    

 

 

  

Diversified Financial Services 1.0%

 

Air Lease Corp., 4.250%, 09/15/24

     4,376,000        4,530,096  

Lazard Group LLC, 3.750%, 02/13/25

     3,968,000        3,944,462  

TD Ameritrade Holding Corp., 2.950%, 04/01/22

     1,449,000        1,466,885  
    

 

 

  
       9,941,443  
    

 

 

  

Electric 1.0%

 

Berkshire Hathaway Energy Co., 6.125%, 04/01/36

     1,050,000        1,310,849  
 

 

See Notes to Financial Statements.

 

99

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Electric—continued

 

Duke Energy Corp., 3.750%, 09/01/46

     2,903,000        2,606,217  

Exelon Generation Co. LLC, 6.200%, 10/01/17

     1,189,000        1,214,917  

FirstEnergy Transmission LLC, 5.450%, 07/15/44(a)

     4,376,000        4,779,940  
    

 

 

  
       9,911,923  
    

 

 

  

Healthcare-Products 0.2%

 

Medtronic, Inc., 3.500%, 03/15/25

     565,000        578,134  

Medtronic, Inc., 4.625%, 03/15/45

     1,597,000        1,714,715  
    

 

 

  
       2,292,849  
    

 

 

  

Healthcare-Services 0.2%

 

Howard Hughes Medical Institute, 3.500%, 09/01/23

     1,426,000        1,493,802  
    

 

 

  

Insurance 0.3%

 

MassMutual Global Funding LLC, 2.000%, 04/05/17(a)

     1,291,000        1,291,000  

Nationwide Financial Services, Inc., 5.375%, 03/25/21(a)

     1,746,000        1,900,626  
    

 

 

  
       3,191,626  
    

 

 

  

Lodging 0.1%

 

Wyndham Worldwide Corp., 4.500%, 04/01/27

     970,000        977,197  
    

 

 

  

Machinery-Diversified 0.1%

 

Xylem, Inc., 3.250%, 11/01/26

     1,212,000        1,196,803  
    

 

 

  

Media 0.9%

 

Time Warner, Inc., 3.800%, 02/15/27

     3,289,000        3,253,134  

Viacom, Inc., 3.450%, 10/04/26

     1,715,000        1,631,234  

Viacom, Inc., 5.875%, 02/28/57(b)(e)

     3,192,000        3,255,840  
    

 

 

  
       8,140,208  
    

 

 

  

Mining 1.5%

 

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

     3,977,000        4,560,490  

Barrick International Barbados Corp., 6.350%, 10/15/36(a)

     1,083,000        1,230,617  

Newmont Mining Corp., 6.250%, 10/01/39

     7,239,000        8,399,187  
    

 

 

  
       14,190,294  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Miscellaneous Manufacturer 0.4%

 

General Electric Co., 2.700%, 10/09/22

     1,118,000        1,126,370  

General Electric Co., 4.125%, 10/09/42

     901,000        917,759  

General Electric Co., 5.250%, 12/06/17

     2,161,000        2,215,727  
    

 

 

  
       4,259,856  
    

 

 

  

Oil & Gas 2.0%

 

BP Capital Markets PLC, 2.112%, 09/16/21(e)

     925,000        908,402  

Ensco PLC, 4.500%, 10/01/24

     1,098,000        925,065  

Ensco PLC, 5.200%, 03/15/25(e)

     4,517,000        3,918,497  

Ensco PLC, 5.750%, 10/01/44

     1,833,000        1,383,915  

HollyFrontier Corp., 5.875%, 04/01/26

     4,294,000        4,559,017  

Nabors Industries, Inc., 5.500%, 01/15/23(a)

     1,196,000        1,220,668  

Shell International Finance BV, 1.750%, 09/12/21(e)

     1,606,000        1,561,098  

Shell International Finance BV, 4.375%, 05/11/45

     2,730,000        2,768,501  

Woodside Finance Ltd., 4.600%, 05/10/21(a)

     2,086,000        2,187,361  
    

 

 

  
       19,432,524  
    

 

 

  

Oil & Gas Services 0.8%

 

Schlumberger Holdings Corp., 3.000%, 12/21/20(a)

     1,726,000        1,764,878  

Schlumberger Holdings Corp., 4.000%, 12/21/25(a)

     3,391,000        3,534,022  

Schlumberger Investment SA, 3.300%, 09/14/21(a)

     1,309,000        1,348,779  

TechnipFMC PLC, 3.450%, 10/01/22(e)

     508,000        503,711  
    

 

 

  
       7,151,390  
    

 

 

  

Pharmaceuticals 0.1%

 

Novartis Securities Investment Ltd., 5.125%, 02/10/19

     765,000        812,789  
    

 

 

  

Pipelines 2.0%

 

Boardwalk Pipelines LP, 4.450%, 07/15/27

     1,170,000        1,182,075  

Energy Transfer Partners LP, 5.300%, 04/15/47

     2,810,000        2,688,982  

EnLink Midstream Partners LP, 4.150%, 06/01/25

     3,296,000        3,256,346  

MPLX LP, 5.200%, 03/01/47

     2,070,000        2,082,971  
 

 

See Notes to Financial Statements.

 

100

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Pipelines—continued

 

NuStar Logistics LP, 4.800%, 09/01/20

     2,870,000        2,904,153  

Sabine Pass Liquefaction LLC, 4.200%, 03/15/28(a)

     4,942,000        4,881,772  

Transcanada Trust, 5.300%, 03/15/77(b)

     517,000        510,861  

Valero Energy Partners LP, 4.375%, 12/15/26

     1,788,000        1,804,374  
    

 

 

  
       19,311,534  
    

 

 

  

Real Estate Investment Trust 1.0%

 

American Tower Corp., 3.500%, 01/31/23(e)

     1,377,000        1,385,142  

American Tower Corp., 5.000%, 02/15/24

     2,564,000        2,768,961  

Boston Properties LP, 3.650%, 02/01/26

     1,437,000        1,431,386  

Digital Realty Trust LP, 3.950%, 07/01/22

     2,468,000        2,570,340  

Digital Realty Trust LP, 4.750%, 10/01/25

     1,521,000        1,605,271  
    

 

 

  
       9,761,100  
    

 

 

  

Retail 0.2%

 

Home Depot, Inc. (The), 2.625%, 06/01/22

     1,554,000        1,566,681  
    

 

 

  

Semiconductors 1.4%

 

Analog Devices, Inc., 3.500%, 12/05/26

     2,550,000        2,525,456  

Applied Materials, Inc., 3.300%, 04/01/27

     2,937,000        2,948,666  

Broadcom Corp./Broadcom Cayman Finance Ltd., 3.875%, 01/15/27(a)

     2,813,000        2,827,830  

NVIDIA Corp., 3.200%, 09/16/26

     1,789,000        1,735,251  

TSMC Global Ltd., 1.625%, 04/03/18(a)

     3,589,000        3,579,886  
    

 

 

  
       13,617,089  
    

 

 

  

Software 0.5%

 

Oracle Corp., 2.650%, 07/15/26

     5,376,000        5,119,070  
    

 

 

  

Telecommunication Services 0.8%

 

AT&T, Inc., 2.375%, 11/27/18

     1,854,000        1,866,848  

AT&T, Inc., 4.350%, 06/15/45

     2,457,000        2,162,605  

Cisco Systems, Inc., 2.125%, 03/01/19

     1,666,000        1,683,382  

Verizon Communications, Inc., 5.500%, 03/16/47

     1,450,000        1,519,810  
    

 

 

  
       7,232,645  
    

 

 

  

Total Corporate Bonds
(Cost $224,008,295)

        229,284,881  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages 22.5%

 

Federal Home Loan Mortgage Corporation

     

Pool #G30614, 3.500%, 12/01/32

     3,743,951        3,906,142  

Pool #C91768, 3.500%, 07/01/34

     1,587,918        1,647,717  

Pool #G01779, 5.000%, 04/01/35

     254,541        279,167  

Pool #G01838, 5.000%, 07/01/35

     226,032        248,222  

Pool #G01837, 5.000%, 07/01/35

     796,783        873,008  

Pool #Z40115, 6.000%, 05/01/36

     3,632,584        4,107,050  

Pool #G05326, 5.000%, 02/01/38

     1,031,518        1,126,333  

Pool #G07135, 6.000%, 10/01/38

     1,301,937        1,475,690  

Pool #G08347, 4.500%, 06/01/39

     2,073,008        2,227,146  

Pool #G05606, 4.500%, 07/01/39

     5,936,086        6,381,561  

Pool #G08353, 4.500%, 07/01/39

     2,620,078        2,816,174  

Pool #G06079, 6.000%, 07/01/39

     602,846        682,800  

Pool #A89384, 4.000%, 10/01/39

     160,161        168,671  

Pool #A89148, 4.000%, 10/01/39

     1,180,844        1,242,726  

Pool #G08372, 4.500%, 11/01/39

     1,545,922        1,661,445  

Pool #A93101, 5.000%, 07/01/40

     1,112,028        1,212,294  

Pool #G06061, 4.000%, 10/01/40

     2,419,085        2,552,664  

Pool #V82101, 4.000%, 11/01/40

     852,960        898,440  

Pool #A95796, 4.000%, 12/01/40

     940,338        990,328  

Pool #A95822, 4.000%, 12/01/40

     2,441,583        2,582,116  

Pool #G60126, 4.500%, 11/01/41

     340,480        365,823  

Pool #G07491, 4.500%, 03/01/42

     41,999        45,163  

Pool #G06973, 4.000%, 04/01/42

     543,082        572,064  

Pool #C04123, 4.000%, 07/01/42

     3,365,306        3,557,816  
 

 

See Notes to Financial Statements.

 

101

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #Q13801, 3.000%, 12/01/42

     830,042        827,645  

Pool #G60019, 4.500%, 03/01/44

     5,946,829        6,393,923  

Pool #Q31066, 4.000%, 02/01/45

     1,028,953        1,085,541  

Pool #Q31645, 4.000%, 02/01/45

     4,578,724        4,824,019  

Pool #G60589, 4.000%, 02/01/45

     5,563,917        5,841,091  

Pool #Q35611, 4.000%, 09/01/45

     4,998,185        5,266,543  

Pool #Q36238, 4.000%, 09/01/45

     2,094,088        2,198,217  

Pool #Q37163, 3.500%, 11/01/45

     2,672,080        2,742,956  

Pool #Q40240, 4.000%, 03/01/46

     990,497        1,039,750  

Pool #Q40123, 3.500%, 04/01/46

     2,623,323        2,695,308  

Pool #Q40124, 3.500%, 04/01/46

     3,364,058        3,453,309  

Pool #Q40723, 4.000%, 05/01/46

     2,844,292        2,985,726  
    

 

 

  
       80,974,588  
    

 

 

  

Federal National Mortgage Association

     

Pool #AP9592, 3.500%, 10/01/32

     2,639,878        2,757,058  

Pool #MA1630, 4.000%, 10/01/33

     1,605,949        1,700,740  

Pool #MA1688, 3.500%, 12/01/33

     109,743        114,605  

Pool #MA1763, 3.500%, 01/01/34

     2,862,939        2,990,071  

Pool #745950, 6.000%, 11/01/36

     1,293,032        1,460,000  

Pool #888128, 6.000%, 01/01/37

     224,771        254,336  

Pool #890248, 6.000%, 08/01/37

     317,165        362,747  

Pool #995724, 6.000%, 04/01/39

     987,788        1,129,379  

Pool #AC3352, 4.000%, 08/01/39

     347,466        364,742  

Pool #AC2817, 4.000%, 10/01/39

     379,637        398,499  

Pool #AX3605, 3.500%, 01/01/40

     3,289,066        3,384,462  

Pool #932441, 4.000%, 01/01/40

     5,253,788        5,514,676  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AC9564, 4.500%, 02/01/40

     658,156        711,856  

Pool #AL7497, 3.500%, 09/01/40

     6,135,683        6,317,931  

Pool #AE5143, 4.000%, 11/01/40

     341,572        359,709  

Pool #AE9284, 4.000%, 11/01/40

     499,053        524,790  

Pool #AL0215, 4.500%, 04/01/41

     3,584,857        3,859,041  

Pool #AB3573, 3.500%, 05/01/41

     331,035        340,623  

Pool #AB3274, 4.500%, 07/01/41

     1,546,902        1,667,572  

Pool #AW8154, 3.500%, 01/01/42

     5,699,595        5,867,759  

Pool #AB5188, 3.500%, 05/01/42

     3,383,401        3,480,155  

Pool #AZ0572, 3.000%, 06/01/42

     1,795,016        1,789,456  

Pool #AP7874, 3.500%, 10/01/42

     1,747,636        1,796,195  

Pool #AB8726, 3.500%, 03/01/43

     5,625,907        5,782,274  

Pool #AT4912, 4.000%, 05/01/43

     1,714,865        1,806,222  

Pool #AS0653, 4.000%, 10/01/43

     682,219        719,182  

Pool #AT0536, 4.000%, 10/01/43

     1,241,455        1,303,262  

Pool #AV3452, 4.000%, 02/01/44

     3,626,359        3,805,064  

Pool #AS2037, 4.500%, 03/01/44

     2,451,702        2,632,915  

Pool #AL6223, 4.500%, 08/01/44

     537,898        577,460  

Pool #AL9127, 4.000%, 10/01/44

     10,991,198        11,583,394  

Pool #AY2685, 4.500%, 01/01/45

     594,879        641,069  

Pool #MA2279, 4.000%, 05/01/45

     1,851,485        1,942,483  

Pool #BD9394, 3.500%, 06/01/45

     125,952        129,064  

Pool #AZ9213, 4.000%, 10/01/45

     5,253,451        5,543,833  

Pool #AS6515, 4.000%, 01/01/46

     4,945,113        5,188,920  

Pool #BC2470, 3.500%, 02/01/46

     2,166,073        2,235,797  
 

 

See Notes to Financial Statements.

 

102

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #BC8441, 4.000%, 06/01/46

     1,359,358        1,426,454  

Pool #AS7561, 4.000%, 06/01/46

     848,315        901,532  

Pool #AX5534, 4.000%, 06/01/46

     601,389        639,120  

Pool #BD4896, 4.000%, 08/01/46

     3,607,766        3,785,830  

Pool #BC5673, 4.000%, 08/01/46

     3,979,934        4,176,383  

Pool #BC5696, 4.000%, 09/01/46

     3,308,408        3,471,706  
    

 

 

  
       105,438,366  
    

 

 

  

Government National Mortgage Association

     

Pool #736663, 5.000%, 03/15/40

     4,093,394        4,474,202  

Pool #783653, 5.000%, 08/15/40

     529,660        582,713  

Pool #MA0321, 5.000%, 08/20/42

     432,311        469,373  

Pool #MA2681, 5.000%, 03/20/45

     1,489,114        1,599,134  

Pool #AM0226, 4.000%, 05/15/45

     1,085,996        1,147,044  

Pool #AM9875, 4.000%, 06/15/45

     1,398,933        1,481,009  

Pool #AN5745, 4.000%, 07/15/45

     2,754,127        2,921,110  

Pool #AN5764, 4.000%, 07/15/45

     1,038,959        1,097,481  

Pool #AN5766, 4.000%, 07/15/45

     1,115,100        1,177,797  

Pool #AN6811, 4.000%, 07/15/45

     1,032,338        1,090,798  

Pool #AM8631, 4.000%, 07/15/45

     2,228,176        2,354,524  

Pool #AV6530, 4.000%, 08/20/46

     1,408,294        1,488,498  

Pool #MA3875, 4.000%, 08/20/46

     3,945,709        4,170,421  

Pool #MA4005, 4.000%, 10/20/46

     2,830,199        2,991,382  

Pool #MA4072, 5.000%, 11/20/46

     1,830,311        1,967,531  
    

 

 

  
       29,013,017  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $214,437,662)

        215,425,971  
    

 

 

  
     Shares or
Principal
Amount($)		     Value($)  

U.S. Treasury Obligations 38.0%

 

U.S. Treasury Bond 2.7%

 

2.875%, 11/15/46

     26,333,000       25,550,199  
   

 

 

  

U.S. Treasury Inflation Indexed Bond 2.7%

 

1.000%, 02/15/46

     24,993,214       25,373,086  
   

 

 

  

U.S. Treasury Notes 32.6%

 

0.750%, 08/15/19

     71,083,000       70,080,588  

1.375%, 04/30/20

     19,176,000       19,071,126  

1.625%, 07/31/20(f)

     147,049,000       147,066,205  

2.000%, 05/31/21

     21,708,000       21,872,503  

2.250%, 02/15/27

     55,777,000       55,064,560  
   

 

 

  
      313,154,982  
   

 

 

  

Total U.S. Treasury Obligations
(Cost $365,627,814)

       364,078,267  
   

 

 

  

Foreign Government Bonds 5.4%

 

Sovereign 5.4%

 

Argentine Bonos del Tesoro, 21.200%, 09/19/18

     ARS 149,950,000       10,187,667  

Argentine Bonos del Tesoro, 22.750%, 03/05/18

     ARS 153,210,000       10,390,594  

Argentine Republic Government International Bond, 7.500%,
04/22/26(a)

     ARS 13,690,000       14,552,470  

Mexican Bonos, 8.500%, 12/13/18

     MXN 300,444,200       16,498,053  
   

 

 

  

Total Foreign Government Bonds
(Cost $50,476,055)

       51,628,784  
   

 

 

  

Money Market Funds 3.7%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(g)

     29,913,948     $ 29,913,948  

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.62%(g)(h)

     5,199,918       5,199,918  
   

 

 

  

Total Money Market Funds
(Cost $35,113,866)

       35,113,866  
   

 

 

  

Total Investments
(Cost $976,485,145) — 102.5%

 

     982,758,553  

Liabilities in Excess of Other Assets — (2.5)%

       (23,914,808 ) 
   

 

 

  

Net Assets — 100.0%

     $ 958,843,745  
   

 

 

  
 

 

See Notes to Financial Statements.

 

103

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Total Return 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 13.0% of net assets as of March 31, 2017.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Perpetual maturity.

 

(e) The security or a partial position of the security was on loan as of March 31, 2017. The total value of securities on loan as of March 31, 2017 was $5,073,159.
(f) 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.

 

(g) Rate disclosed, the 7 day net yield, is as of March 31, 2017.

 

(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, 2017 (See Note 2(k)).

Investment Abbreviation

 

ARS   —   Argentine Peso
MTN   —   Medium Term Note
MXN   —   Mexician Peso
IO   —   Interest Only security for which the fund receives interest on notional principal
 

 

At March 31, 2017, the Fund’s open credit default swap contract was as follows:

OTC Credit Default Swap Contract — Sell Protection

 

Underlying
Instrument

   Broker (Exchange)   Notional
Amount		     Fixed
Rate		     Expiration
Date		     Implied
Credit
Spread*		     Premiums
Receivable		     Upfront
Payments
Made		     Value     Unrealized
Appreciation		  

Argentina Republic

   Credit Suisse International     12,500,000       5.000       06/20/22       3.672%       $20,833       $754,843       $768,092       $13,249  

The notional amount represents the maximum potential amount the Fund could be required to pay as seller of credit protection if a credit event occurs, as defined under the terms of the swap contract, for each security included in Argentina Republic.

The value column indicates the impact each respective swap agreement has on the Fund’s Net Assets at March 31, 2017.

 

* Implied credit spreads serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular reference entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the reference entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

Forward Foreign Currency Contracts

At March 31, 2017, the Fund’s 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     06/13/17       26,138,955     $ 19,583,174     $ 19,944,868     $ (361,694 ) 

Euro

   JPMorgan     06/13/17       17,076,742       18,166,665       18,276,940       (110,275 ) 

New Zealand Dollar

   Credit Suisse International     05/08/17       13,926,877       10,160,005       9,754,220       405,785  

South Korean Won

   Credit Suisse International     05/08/17       11,630,300,000       10,252,832       10,404,576       (151,744 ) 

Yuan Renminbi Offshore

   JPMorgan     01/17/18       139,434,750       19,500,000       19,871,450       (371,450 ) 
       

 

 

    

 

 

    

 

 

  

Total Short Contracts

         $ 77,662,676     $ 78,252,054     $ (589,378 ) 
       

 

 

    

 

 

    

 

 

  

Long:

 

Euro

   JPMorgan     06/13/17       17,076,742       18,434,343       18,276,940       (157,403 ) 
       

 

 

    

 

 

    

 

 

  

Total Long Contracts

         $ 18,434,343     $ 18,276,940     $ (157,403 ) 
       

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

104

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix U.S. Government Securities Ultra-Short Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Security 1.1%  

Student Loan Asset Backed Security 1.1%

 

NCUA Guaranteed Notes Trust, Series 2010-A1, Cl A, 1.208%, 12/07/20(a)

     15,564,795        15,564,795  
    

 

 

  

Total Asset-Backed Security
(Cost $15,566,620)

        15,564,795  
    

 

 

  

Collateralized Mortgage Obligations 53.2%

 

Agency Collateralized Mortgage Obligations 25.9%

 

Federal Home Loan Mortgage Corporation

     

Series 2781, Cl FA, REMIC, 1.262%, 04/15/34(a)

     8,637,370        8,619,359  

Series 2796, Cl F, REMIC, 1.412%, 05/15/34(a)

     5,518,863        5,538,760  

Series 3346, Cl FA, REMIC, 1.142%, 02/15/19(a)

     4,425,210        4,424,746  

Series 3418, Cl FB, REMIC, 1.212%, 04/15/20(a)

     4,813,958        4,818,475  

Series 3593, Cl F, REMIC, 1.280%, 03/15/36(a)

     3,066,587        3,078,357  

Series 3710, Cl FL, REMIC, 1.412%, 05/15/36(a)

     1,121,247        1,127,235  

Series 4057, Cl CF, REMIC, 1.362%, 04/15/39(a)

     10,599,711        10,599,250  

Series 4247, Cl EF, REMIC, 1.312%, 03/15/32(a)

     1,721,696        1,729,733  

Series 4474, Cl WF, REMIC, 1.130%, 12/15/36(a)

     20,163,883        20,090,265  
    

 

 

  
       60,026,180  
    

 

 

  

Federal National Mortgage Association

     

Series 2005-58, Cl KF, REMIC, 1.482%, 07/25/35(a)

     7,821,955        7,839,753  

Series 2010-137, Cl WB, REMIC, 3.063%, 07/25/40(a)

     5,654,395        5,886,658  

Series 2011-58, Cl AC, REMIC, 2.500%, 06/25/24

     564,633        569,585  

Series 2012-60, Cl WF, REMIC, 1.332%, 06/25/27(a)

     15,298,534        15,302,316  

Series 2013-34, Cl PF, REMIC, 1.332%, 08/25/42(a)

     13,571,885        13,535,569  

Series 2015-42, Cl BF, REMIC, 1.090%, 06/25/45(a)

     23,341,521        23,337,035  
     Shares or
Principal
Amount($)		      Value($)  

Agency Collateralized Mortgage Obligations—continued

 

Series 2016-32, Cl FA, REMIC, 1.382%, 10/25/34(a)

     28,515,308        28,609,030  

Series 2016-36, Cl FB, REMIC, 1.482%, 03/25/43(a)

     12,092,921        12,073,565  
    

 

 

  
       107,153,511  
    

 

 

  

Government National Mortgage Association

     

Series 2011-133, Cl PF, REMIC, 1.378%, 12/20/35(a)

     5,839,890        5,850,052  

Series 2012-98, Cl FM, 1.178%, 12/20/38(a)

     2,332,594        2,326,433  

Series 2016-H22, Cl FJ, 1.170%, 10/20/66(a)

     18,603,962        18,606,599  
    

 

 

  
       26,783,084  
    

 

 

  

NCUA Guaranteed Notes

     

Series 2010-R1, Cl 1A, 1.432%, 10/07/20(a)

     29,570,918        29,603,253  

Series 2010-R2, Cl 1A, 1.148%, 11/06/17(a)

     35,732,731        35,738,645  

Series 2010-R2, Cl 2A, 1.324%, 11/05/20(a)

     31,614,030        31,662,944  

Series 2010-R3, Cl 1A, 1.337%, 12/08/20(a)

     6,627,760        6,654,584  

Series 2010-R3, Cl 2A, 1.337%, 12/08/20(a)

     2,161,655        2,172,503  

Series 2011-R1, Cl 1A, 1.304%, 01/08/20(a)

     23,977,218        24,013,996  

Series 2011-R2, Cl 1A, 1.254%, 02/06/20(a)

     36,853,806        36,869,196  

Series 2011-R3, Cl 1A, 1.291%, 03/11/20(a)

     1,291,016        1,291,765  
    

 

 

  
       168,006,886  
    

 

 

  
       361,969,661  
    

 

 

  

Agency Collateralized Planned Amortization Class Mortgage Obligations 5.4%

 

Federal Home Loan Mortgage Corporation

     

Series 3071, Cl ZX, REMIC, 1.212%, 04/15/35(a)

     2,388,599        2,379,794  

Series 3260, Cl PF, REMIC, 1.212%, 01/15/37(a)

     1,267,512        1,265,696  

Series 3990, Cl GF, REMIC, 1.312%, 03/15/41(a)

     10,737,427        10,745,264  

Series 3995, Cl PF, REMIC, 1.362%, 05/15/39(a)

     11,316,113        11,348,185  
 

 

See Notes to Financial Statements.

 

105

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Agency Collateralized Planned Amortization Class Mortgage Obligations—continued

 

Series 4203, Cl PF, REMIC, 1.162%, 09/15/42(a)

     20,932,640        20,881,630  

Series 4571, Cl FK, REMIC, 1.512%, 02/15/44(a)

     5,827,472        5,820,862  
    

 

 

  
       52,441,431  
    

 

 

  

Federal National Mortgage Association

     

Series 2006-113, Cl NF, REMIC, 1.332%, 09/25/36(a)

     9,360,095        9,334,809  
    

 

 

  

Government National Mortgage Association

     

Series 2003-67, Cl FP, 1.878%, 08/20/33(a)

     5,621,875        5,713,439  

Series 2005-41, Cl FC, 1.278%, 05/20/35(a)

     8,520,966        8,483,987  
    

 

 

  
       14,197,426  
    

 

 

  
       75,973,666  
    

 

 

  

Commercial Mortgage Backed Securities 21.9%

 

Federal Home Loan Mortgage Corporation

     

Series KF15, Cl A, 1.449%, 02/25/23(a)

     11,593,599        11,651,531  

Series KF22, Cl A, 1.279%, 07/25/23(a)

     12,740,192        12,772,114  

Series KLH3, Cl A, 1.489%, 11/25/22(a)

     9,817,548        9,868,098  

Series KLSF, Cl A, 1.109%, 11/25/21(a)

     14,167,700        14,167,698  

Series KS05, Cl A, 1.289%, 01/25/23(a)

     5,980,799        5,995,789  
    

 

 

  
       54,455,230  
    

 

 

  

Federal National Mortgage Association

     

Series 2011-M1, Cl FA, 1.432%, 06/25/21(a)

     26,218,331        26,245,541  

Series 2014-M5, Cl ASQ2, 2.034%, 03/25/19

     11,353,833        11,377,978  

Series 2015-M10, Cl FA, 1.019%, 03/25/19(a)

     2,046,298        2,047,252  

Series 2015-M14, Cl FA, 1.602%, 10/25/25(a)

     1,982,594        1,997,322  

Series 2015-M4, Cl FA, 0.979%, 09/25/18(a)

     1,004,921        1,004,958  

Series 2016-M13, Cl FA, 1.439%, 11/25/23(a)

     19,223,549        19,216,845  
     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

 

Series 2016-M8, Cl FA, 1.483%, 07/25/26(a)

     20,577,501        20,625,868  

Series 2016-M9, Cl FA, 1.269%, 09/25/23(a)

     62,639,573        62,674,651  

Series 2017-M2, Cl FA, 1.299%, 02/25/24(a)

     15,989,279        16,016,011  
    

 

 

  
       161,206,426  
    

 

 

  

FREMF Multifamily Aggregation Risk Transfer Trust

     

Series 2017-KT01, Cl A, 1.090%, 02/25/20(a)

     12,070,000        12,088,804  
    

 

 

  

FRESB Mortgage Trust

     

Series 2015-SB3, Cl A5, 2.012%, 08/25/42(a)

     12,275,038        12,225,938  

Series 2015-SB9, Cl A5, 2.434%, 11/25/35(a)

     39,232,401        39,489,844  

Series 2016-SB20, Cl A5H, 2.140%, 07/25/36(a)

     12,984,255        12,863,502  

Series 2017-SB27, Cl A5H, 2.600%, 01/25/37(a)

     2,499,812        2,516,811  

Series 2017-SB28, Cl A5H, 2.720%, 01/25/37(a)

     12,000,000        12,138,000  
    

 

 

  
       79,234,095  
    

 

 

  
       306,984,555  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $744,805,884)

        744,927,882  
    

 

 

  

U.S. Government Agencies 1.7%

 

Federal Agricultural Mortgage Corp. 0.4%

 

1.228%, 01/03/22, MTN(a)

     4,900,000        4,922,643  
    

 

 

  

Federal Farm Credit Bank 1.3%

 

1.447%, 12/08/26(a)

     4,700,000        4,695,784  

1.532%, 01/26/27(a)

     14,700,000        14,659,899  
    

 

 

  
       19,355,683  
    

 

 

  

Total U.S. Government Agencies
(Cost $24,300,000)

        24,278,326  
    

 

 

  

U.S. Government Agency Mortgages 41.9%

 

Federal Home Loan Mortgage Corporation

     

Pool #G11520, 5.000%, 01/01/19

     1,030,788        1,060,747  

Pool #J17872, 2.500%, 01/01/22

     223,476        225,043  

Pool #J21160, 2.500%, 11/01/22

     581,892        591,463  
 

 

See Notes to Financial Statements.

 

106

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #G13080, 4.000%, 03/01/23

     491,598        509,605  

Pool #J29659, 3.000%, 10/01/24

     1,058,330        1,088,396  

Pool #J13242, 3.500%, 10/01/25

     201,204        210,664  

Pool #E02806, 3.000%, 12/01/25

     461,353        473,822  

Pool #848744, 3.165%, 05/01/34(a)

     12,867,620        13,645,422  

Pool #848736, 3.167%, 05/01/35(a)

     20,244,941        21,251,278  

Pool #848747, 3.138%, 07/01/36(a)

     12,103,481        12,803,757  

Pool #1Q1195, 2.946%, 05/01/37(a)

     10,536,429        11,108,042  

Pool #848796, 3.247%, 05/01/37(a)

     22,316,047        23,512,606  

Pool #1Q1420, 3.113%, 09/01/39(a)

     16,159,531        17,062,351  

Pool #849139, 3.091%, 09/01/43(a)

     2,564,048        2,640,496  
    

 

 

  
       106,183,692  
    

 

 

  

Federal National Mortgage Association

     

Pool #AM0687, 1.560%, 10/01/17

     1,539,882        1,540,339  

Pool #888969, 5.909%, 11/01/17

     2,118,532        2,117,208  

Pool #467010, 3.520%, 01/01/18

     5,683,154        5,721,441  

Pool #385912, 5.350%, 02/01/18

     5,318,723        5,393,719  

Pool #467288, 2.800%, 03/01/18

     1,509,723        1,527,022  

Pool #468279, 3.470%, 06/01/18

     3,669,666        3,721,308  

Pool #AM7163, 1.229%, 05/01/19(a)

     10,610,991        10,596,855  

Pool #AM6261, 0.999%, 07/01/19(a)

     15,370,000        15,352,535  

Pool #AM7028, 1.019%, 10/01/19(a)

     18,405,000        18,385,494  

Pool #463520, 4.550%, 10/01/19

     2,274,172        2,405,522  

Pool #463617, 4.910%, 10/01/19

     3,613,875        3,839,860  

Pool #AM2078, 1.670%, 01/01/20

     11,223,311        11,120,289  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AM5902, 1.119%, 05/01/20(a)

     18,500,854        18,512,411  

Pool #AN3353, 1.349%, 09/01/21(a)

     10,750,000        10,754,934  

Pool #AM9893, 1.159%, 10/01/21(a)

     27,500,000        27,501,504  

Pool #AN3539, 1.249%, 11/01/21(a)

     17,404,595        17,399,593  

Pool #469856, 1.569%, 12/01/21(a)

     17,627,201        17,691,736  

Pool #AN5208, 1.171%, 03/01/22(a)

     4,800,000        4,801,265  

Pool #AM9040, 1.049%, 06/01/22(a)

     17,995,000        17,976,810  

Pool #AM9651, 1.079%, 08/01/22(a)

     14,330,000        14,333,194  

Pool #AM7213, 1.429%, 08/01/22(a)

     4,540,000        4,535,058  

Pool #AM2292, 1.129%, 01/01/23(a)

     4,567,820        4,552,779  

Pool #AN3414, 1.379%, 01/01/23(a)

     11,938,958        11,954,696  

Pool #AN2256, 1.359%, 07/01/23(a)

     17,775,000        17,751,679  

Pool #AN2605, 1.239%, 08/01/23(a)

     10,000,000        9,999,517  

Pool #MA1535, 2.000%, 08/01/23

     491,694        494,311  

Pool #AN1582, 1.219%, 09/01/23(a)

     14,525,000        14,532,972  

Pool #AU7196, 2.000%, 09/01/23

     512,212        514,937  

Pool #AM4611, 1.239%, 11/01/23(a)

     4,692,625        4,710,546  

Pool #AM4510, 1.269%, 11/01/23(a)

     1,782,185        1,779,194  

Pool #AN3845, 1.319%, 12/01/23(a)

     16,548,259        16,494,196  

Pool #AN4300, 1.339%, 01/01/24(a)

     14,679,928        14,657,065  

Pool #AN4364, 1.369%, 01/01/24(a)

     2,990,000        2,997,664  

Pool #AN3434, 1.429%, 09/01/24(a)

     2,684,000        2,684,693  

Pool #AN2868, 1.269%, 12/01/24(a)

     4,700,000        4,679,552  

Pool #AN3661, 1.359%, 11/01/26(a)

     3,000,000        3,006,341  

Pool #AL0222, 2.776%, 07/01/34(a)

     7,182,021        7,578,491  
 

 

See Notes to Financial Statements.

 

107

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix U.S. Government Securities Ultra-Short Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AD0064, 2.781%, 01/01/35(a)

     6,376,489        6,636,918  

Pool #AD7165, 2.491%, 04/01/35(a)

     1,735,845        1,837,372  

Pool #995540, 2.755%, 01/01/36(a)

     5,377,722        5,674,921  

Pool #AL2202, 3.118%, 06/01/36(a)

     6,720,553        7,049,940  

Pool #AL0960, 3.058%, 07/01/37(a)

     12,026,420        12,737,647  

Pool #AL0270, 2.929%, 08/01/38(a)

     10,273,905        10,816,029  

Pool #AL6516, 3.249%, 04/01/40(a)

     10,619,523        11,230,253  

Pool #AL7812, 3.089%, 11/01/40(a)

     21,273,245        22,476,808  

Pool #AE0544, 3.166%, 11/01/40(a)

     6,863,619        7,251,216  

Pool #AL0323, 3.029%, 06/01/41(a)

     7,438,316        7,877,397  

Pool #AL1801, 2.947%, 05/01/42(a)

     4,881,328        5,037,585  

Pool #AT1155, 2.946%, 09/01/43(a)

     2,979,234        3,074,778  

Pool #AU6696, 2.706%, 10/01/43(a)

     15,908,985        16,356,840  

Pool #BD2950, 2.396%, 07/01/46(a)

     5,944,593        6,019,648  

Pool #BA3816, 2.573%, 07/01/46(a)

     6,675,619        6,804,492  

Pool #BD2257, 2.433%, 08/01/46(a)

     5,455,501        5,528,431  

Pool #BD3394, 2.546%, 08/01/46(a)

     3,945,993        4,012,150  
    

 

 

  
       474,039,155  
    

 

 

  

Government National Mortgage Association

     

Pool #082904, 2.125%, 08/20/41(a)

     1,238,607        1,273,535  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #MA0414, 2.125%, 09/20/42(a)

     4,122,169        4,234,715  
    

 

 

  
       5,508,250  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $580,130,888)

        585,731,097  
    

 

 

  

U.S. Treasury Obligation 0.0%(b)

 

U.S. Treasury Note 0.0%(b)

 

    

 

 

  

0.875%, 05/15/17

     400,000        400,094  
    

 

 

  

Total U.S. Treasury Obligation
(Cost $400,070)

        400,094  
    

 

 

  

Money Market Fund 2.0%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     27,461,735        27,461,735  
    

 

 

  

Total Money Market Fund
(Cost $27,461,735)

        27,461,735  
    

 

 

  

Total Investments
(Cost $1,392,665,197) — 99.9%

 

      1,398,363,929  

Other Assets in Excess of Liabilities — 0.1%

        1,535,471  
    

 

 

  

Net Assets — 100.0%

      $ 1,399,899,400  
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(b) Less than 0.05% of Net Assets.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviation

 

MTN   —   Medium Term Note
REMIC   —   Real Estate Mortgage Investment Conduit
 

 

Open Futures Contracts

At March 31, 2017, 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        $(65,960,262)        June 2017        305        $(57,941)  

U.S. Treasury 5 Year Note

      Short        (18,805,584)        June 2017        160        (30,666)  
              

 

 

  
                 $(88,607)  
              

 

 

  

 

See Notes to Financial Statements.

 

108

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix U.S. Mortgage Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Collateralized Mortgage Obligations 6.3%  

Agency Collateralized Mortgage Obligation 0.8%

 

Federal National Mortgage Association

     

Series 2010-134, Cl EB, REMIC, 4.000%, 12/25/25

     200,000        215,378  
    

 

 

  

Commercial Mortgage Backed Securities 5.5%

 

Federal National Mortgage Association

     

Series 2013-M6, Cl X1, IO 2.174%, 02/25/43(a)

     3,388,620        194,280  

Series 2017-M3, Cl A2, 2.569%, 12/25/26(a)

     242,000        232,150  
    

 

 

  
       426,430  
    

 

 

  

FREMF Mortgage Trust

     

Series 2012-K20, Cl X2A, IO 0.200%,
05/25/45(b)

     8,653,192        69,245  

Series 2012-K21, Cl B, 3.938%,
07/25/45(a)(b)

     500,000        518,880  

Series 2013-K25, Cl B, 3.619%,
11/25/45(a)(b)

     122,000        124,687  
    

 

 

  
       712,812  
    

 

 

  

GS Mortgage Securities Corp. II

     

Series 2012-BWTR, Cl B, 3.255%,
11/05/34(b)

     109,000        110,417  
    

 

 

  

Queens Center Mortgage Trust

     

Series 2013-QCA, Cl A, 3.275%, 01/11/37(b)

     150,000        150,918  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $1,616,457)

        1,615,955  
    

 

 

  

U.S. Government Agency Mortgages 89.3%

 

Federal Home Loan Mortgage Corporation

     

Pool #C01785, 5.000%, 02/01/34

     151,553        166,377  

Pool #C91768, 3.500%, 07/01/34

     736,944        764,697  

Pool #G01838, 5.000%, 07/01/35

     121,196        133,094  

Pool #Z40115, 6.000%, 05/01/36

     200,032        226,159  

Pool #Z40004, 6.000%, 08/01/36

     41,281        46,982  

Pool #A85718, 4.000%, 04/01/39

     53,270        56,316  

Pool #G05477, 4.500%, 05/01/39

     191,427        206,995  

Pool #G08347, 4.500%, 06/01/39

     32,273        34,672  

Pool #G05606, 4.500%, 07/01/39

     373,444        401,470  

Pool #A89148, 4.000%, 10/01/39

     104,094        109,549  

Pool #G08372, 4.500%, 11/01/39

     159,945        171,897  

Pool #A93101, 5.000%, 07/01/40

     205,071        223,562  

Pool #G06061, 4.000%, 10/01/40

     119,978        126,603  

Pool #A95085, 4.000%, 11/01/40

     572,316        602,782  

Pool #A95147, 4.000%, 11/01/40

     94,614        99,643  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #A95796, 4.000%, 12/01/40

     70,027        73,750  

Pool #G07068, 5.000%, 07/01/41

     436,024        474,869  

Pool #Q06771, 3.000%, 03/01/42

     242,176        241,464  

Pool #G07031, 4.000%, 05/01/42

     479,839        506,424  

Pool #C04123, 4.000%, 07/01/42

     314,396        332,381  

Pool #Q09949, 3.000%, 08/01/42

     162,364        161,887  

Pool #Q10929, 3.500%, 09/01/42

     406,904        417,996  

Pool #Q11651, 3.000%, 10/01/42

     109,357        109,036  

Pool #Q13801, 3.000%, 12/01/42

     182,650        182,122  

Pool #G60019, 4.500%, 03/01/44

     371,677        399,620  

Pool #Q26366, 4.000%, 05/01/44

     205,535        217,267  

Pool #V81283, 4.000%, 07/01/44

     385,223        404,379  

Pool #G60589, 4.000%, 02/01/45

     492,789        517,339  

Pool #Q31645, 4.000%, 02/01/45

     101,076        106,491  

Pool #Q36238, 4.000%, 09/01/45

     439,035        460,866  

Pool #Q38473, 4.000%, 01/01/46

     433,747        455,315  

Pool #Q40124, 3.500%, 04/01/46

     245,813        252,334  

Pool #Q40123, 3.500%, 04/01/46

     236,089        242,568  

Pool #Q40723, 4.000%, 05/01/46

     463,514        486,563  
    

 

 

  
       9,413,469  
    

 

 

  

Federal National Mortgage Association

     

Pool #AN4142, 3.260%, 01/01/27

     380,992        389,293  

Pool #MA1688, 3.500%, 12/01/33

     57,404        59,947  

Pool #AL0049, 6.000%, 12/01/35

     32,000        36,219  

Pool #AB6401, 3.000%, 10/01/37

     302,590        301,372  

Pool #AB7768, 3.000%, 02/01/38

     433,087        431,343  

Pool #AC2817, 4.000%, 10/01/39

     8,437        8,856  

Pool #932441, 4.000%, 01/01/40

     216,746        227,509  

Pool #AL7497, 3.500%, 09/01/40

     758,709        781,245  

Pool #AE5143, 4.000%, 11/01/40

     30,520        32,140  

Pool #AE4414, 4.000%, 11/01/40

     32,539        34,232  

Pool #MA0639, 4.000%, 02/01/41

     554,861        584,065  

Pool #AL0215, 4.500%, 04/01/41

     139,804        150,497  

Pool #AI5868, 4.500%, 07/01/41

     263,841        284,133  

Pool #890381, 3.500%, 10/01/41

     294,626        303,157  

Pool #AW8154, 3.500%, 01/01/42

     548,631        564,819  

Pool #AJ9327, 3.500%, 01/01/42

     130,823        134,554  

Pool #AJ9317, 4.000%, 01/01/42

     556,672        586,117  

Pool #MA0971, 4.000%, 02/01/42

     107,524        113,215  

Pool #AK5151, 3.000%, 03/01/42

     260,287        259,481  

Pool #AI9101, 3.500%, 04/01/42

     427,347        439,862  

Pool #AB5188, 3.500%, 05/01/42

     66,897        68,810  

Pool #AZ0572, 3.000%, 06/01/42

     94,465        94,172  

Pool #AO8632, 3.500%, 07/01/42

     1,216,365        1,250,176  
 

 

See Notes to Financial Statements.

 

109

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix U.S. Mortgage Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AP7874, 3.500%, 10/01/42

     122,366        125,766  

Pool #AB8726, 3.500%, 03/01/43

     86,198        88,594  

Pool #AT0536, 4.000%, 10/01/43

     176,858        185,663  

Pool #AV3452, 4.000%, 02/01/44

     178,601        187,402  

Pool #AL6223, 4.500%, 08/01/44

     584,157        627,121  

Pool #AL9127, 4.000%, 10/01/44

     165,746        174,676  

Pool #AY2685, 4.500%, 01/01/45

     71,432        76,978  

Pool #MA2279, 4.000%, 05/01/45

     164,255        172,328  

Pool #MA2341, 4.500%, 06/01/45

     162,857        174,789  

Pool #AY8851, 4.000%, 08/01/45

     278,461        292,318  

Pool #AZ5755, 3.500%, 09/01/45

     637,871        654,896  

Pool #AZ9213, 4.000%, 10/01/45

     669,515        706,522  

Pool #BC2470, 3.500%, 02/01/46

     190,741        196,881  

Pool #AX5534, 4.000%, 06/01/46

     90,186        95,844  

Pool #AS7561, 4.000%, 06/01/46

     118,554        125,992  

Pool #BD4896, 4.000%, 08/01/46

     247,454        259,667  
    

 

 

  
       11,280,651  
    

 

 

  

Government National Mortgage Association

     

Pool #AA5471, 4.000%, 12/15/41

     727,673        771,722  

Pool #MA0321, 5.000%, 08/20/42

     20,183        21,913  

Pool #MA2681, 5.000%, 03/20/45

     269,686        289,611  

Pool #AM9875, 4.000%, 06/15/45

     174,494        184,732  

Pool #AN6811, 4.000%, 07/15/45

     625,330        660,742  
     Shares or
Principal
Amount($)		      Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AV6530, 4.000%, 08/20/46

     155,625        164,488  
    

 

 

  
       2,093,208  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $22,850,614)

        22,787,328  
    

 

 

  

Money Market Fund 3.8%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     962,950        962,950  
    

 

 

  

Total Money Market Fund
(Cost $962,950)

        962,950  
    

 

 

  

Total Investments
(Cost $25,430,021) — 99.4%

        25,366,233  

Other Assets in Excess of Liabilities — 0.6%

        148,094  
    

 

 

  

Net Assets — 100.0%

      $ 25,514,327  
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(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 3.8% of net assets as of March 31, 2017.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

REMIC   —   Real Estate Mortgage Investment Conduit
IO   —   Interest Only security for which the fund receives interest on notional principal
 

 

See Notes to Financial Statements.

 

110

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Ultra-Short Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Asset-Backed Securities 18.6%  

Auto Floor Plan 3.2%

 

Ally Master Owner Trust, Series 2014-5, Cl A1, 1.402%, 10/15/19(a)

     475,000        475,513  

BMW Floorplan Master Owner Trust, Series 2015-1A, Cl A, 1.412%,
07/15/20(a)(b)

     1,100,000        1,102,342  

Nissan Master Owner Trust Receivables, Series 2016-A, Cl A2, 1.540%, 06/15/21

     1,250,000        1,240,526  
    

 

 

  
       2,818,381  
    

 

 

  

Automobiles 4.9%

 

AmeriCredit Automobile Receivables Trust, Series 2013-5, Cl B, 1.520%, 01/08/19

     295,180        295,198  

AmeriCredit Automobile Receivables Trust, Series 2014-2, Cl B, 1.600%, 07/08/19

     500,000        500,333  

Capital Auto Receivables Asset Trust, Series 2014-2, Cl B, 2.030%,
12/20/18

     1,250,000        1,252,518  

Capital Auto Receivables Asset Trust, Series 2015-3, Cl A1A, 1.390%,
02/20/18(b)

     40,942        40,941  

Chrysler Capital Auto Receivables Trust, Series 2013-BA, Cl A4, 1.270%,
03/15/19(b)

     625,238        624,946  

Chrysler Capital Auto Receivables Trust, Series 2013-BA, Cl B, 1.780%, 06/17/19(b)

     500,000        500,713  

Ford Credit Auto Owner Trust, Series 2013-B, Cl B, 1.110%, 10/15/18

     300,000        299,863  

GM Financial Automobile Leasing Trust, Series 2014-2A, Cl A3, 1.220%,
01/22/18(b)

     61,190        61,188  

Hyundai Auto Receivables Trust, Series 2013-B, Cl A4, 1.010%, 02/15/19

     141,275        141,248  

Hyundai Auto Receivables Trust, Series 2014-A, Cl B, 1.730%, 08/15/19

     585,000        585,996  
    

 

 

  
       4,302,944  
    

 

 

  

Credit Card 4.4%

 

Barclays Dryrock Issuance Trust, Series 2015-4, Cl A, 1.720%, 08/16/21

     152,000        152,062  
     Shares or
Principal
Amount($)		      Value($)  

Credit Card—continued

 

Cabela’s Credit Card Master Note Trust, Series 2014-2, Cl A, 1.362%, 07/15/22(a)

     1,512,000        1,515,479  

Capital One Multi-Asset Execution Trust, Series 2005-B3, Cl B3, 1.573%,
05/15/28(a)

     1,253,000        1,206,148  

Capital One Multi-Asset Execution Trust, Series 2014-A5, Cl A5, 1.480%, 07/15/20

     150,000        150,143  

Golden Credit Card Trust, Series 2015-3A, Cl A, 1.332%, 07/15/19(a)(b)

     825,000        825,477  
    

 

 

  
       3,849,309  
    

 

 

  

Other 5.4%

 

DB Master Finance LLC, Series 2015-1A, Cl A2I, 3.262%, 02/20/45(b)

     1,185,800        1,192,028  

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(b)

     1,060,515        1,074,337  

Taco Bell Funding LLC, Series 2016-1A, Cl A2I, 3.832%, 05/25/46(b)

     909,430        921,903  

Verizon Owner Trust, Series 2016-1A, Cl A, 1.420%, 01/20/21(b)

     1,497,000        1,487,818  
    

 

 

  
       4,676,086  
    

 

 

  

Student Loan Asset Backed Security 0.7%

 

SLM Student Loan Trust, Series 2013-1, Cl A2, 1.232%, 09/25/19(a)

     566,283        566,141  
    

 

 

  

Total Asset-Backed Securities
(Cost $16,133,170)

        16,212,861  
    

 

 

  

Collateralized Mortgage Obligations 14.2%

 

Agency Collateralized Mortgage Obligation 0.9%

 

Federal Home Loan Mortgage Corporation

     

Series 2839, Cl TS, REMIC, 5.000%, 08/15/19

     779,619        798,998  
    

 

 

  

Commercial Mortgage Backed Securities 13.3%

 

Chicago Skyscraper Trust

     

Series 2017-SKY, Cl A, 1.713%,
04/15/30(a)(b)

     1,000,000        1,000,560  
    

 

 

  

Commercial Mortgage Trust

 

Series 2012-CR2, Cl A2, 2.025%, 08/15/45

     15,320        15,313  
    

 

 

  
 

 

See Notes to Financial Statements.

 

111

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Commercial Mortgage Backed Securities—continued

 

CSMC Trust

     

Series 2014-TIKI, Cl A, 1.862%, 09/15/38(a)(b)

     1,250,000        1,246,613  
    

 

 

  

Federal Home Loan Mortgage Corporation

     

Series KS02, Cl A, 1.362%, 08/25/23(a)

     286,285        286,459  
    

 

 

  

Federal National Mortgage Association

     

Series 2014-M5, Cl ASQ2, 2.034%, 03/25/19

     934,857        936,845  

Series 2016-M9, Cl FA, 1.269%, 09/25/23(a)

     3,977,116        3,979,343  
    

 

 

  
       4,916,188  
    

 

 

  

FREMF Multifamily Aggregation Risk Transfer Trust

     

Series 2017-KT01, Cl A, 1.090%, 02/25/20(a)

     1,000,000        1,001,558  
    

 

 

  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2013-C13, Cl A1, 1.303%, 01/15/46

     125,468        125,392  
    

 

 

  

Morgan Stanley Bank of America Merrill Lynch Trust

     

Series 2013-C12, Cl A1, 1.313%, 10/15/46

     459,391        458,531  

Series 2014-C14, Cl A1, 1.250%, 02/15/47

     199,483        198,674  
    

 

 

  
       657,205  
    

 

 

  

WFRBS Commercial Mortgage Trust

     

Series 2012-C7, Cl AFL, 1.972%,
06/15/45(a)(b)

     515,000        525,345  

Series 2012-C8, Cl A2, 1.881%, 08/15/45

     866,055        866,009  

Series 2012-C8, Cl AFL, 1.943%,
08/15/45(a)(b)

     1,000,000        1,010,199  
    

 

 

  
       2,401,553  
    

 

 

  
       11,650,841  
    

 

 

  

Total Collateralized Mortgage Obligations
(Cost $12,425,400)

        12,449,839  
    

 

 

  

Corporate Bonds 47.8%

 

Aerospace/Defense 0.6%

 

Lockheed Martin Corp., 1.850%, 11/23/18

     484,000        485,341  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Auto Manufacturers 6.0%

 

BMW U.S. Capital LLC, 1.500%, 04/11/19(b)

     671,000        666,432  

Daimler Finance North America LLC, 1.894%, 08/01/18(a)(b)

     1,314,000        1,323,252  

Ford Motor Credit Co. LLC, 5.000%, 05/15/18

     1,371,000        1,416,481  

General Motors Financial Co., Inc., 2.400%, 05/09/19

     1,338,000        1,340,878  

PACCAR Financial Corp., 1.700%, 12/06/18, MTN(a)

     520,000        524,099  
    

 

 

  
       5,271,142  
    

 

 

  

Banks 8.1%

 

Bank of America Corp., 2.000%, 01/11/18

     1,537,000        1,540,929  

Bank of Montreal, 2.100%, 12/12/19, MTN

     905,000        908,273  

Citigroup, Inc., 2.500%, 09/26/18

     934,000        942,349  

Citigroup, Inc., 2.739%, 05/15/18(a)

     897,000        910,487  

Goldman Sachs Group, Inc. (The), 5.950%, 01/18/18

     1,688,000        1,743,150  

Morgan Stanley, 2.125%, 04/25/18

     1,051,000        1,055,015  
    

 

 

  
       7,100,203  
    

 

 

  

Beverages 1.6%

 

Molson Coors Brewing Co., 1.450%, 07/15/19

     1,406,000        1,387,806  
    

 

 

  

Biotechnology 0.7%

 

Celgene Corp., 2.125%, 08/15/18

     654,000        656,634  
    

 

 

  

Chemicals 1.7%

 

Chevron Phillips Chemical Co. LLC, 1.700%, 05/01/18(b)

     1,498,000        1,498,390  
    

 

 

  

Computers 2.3%

 

Apple, Inc., 1.550%, 02/08/19

     915,000        916,652  

Diamond 1 Finance Corp./Diamond 2 Finance Corp., 3.480%, 06/01/19(b)

     1,047,000        1,072,873  
    

 

 

  
       1,989,525  
    

 

 

  

Electric 3.4%

 

Duke Energy Corp., 1.378%, 04/03/17(a)

     917,000        917,000  

Emera U.S. Finance LP, 2.150%, 06/15/19

     963,000        962,709  

MidAmerican Energy Co., 5.300%, 03/15/18

     1,057,000        1,094,429  
    

 

 

  
       2,974,138  
    

 

 

  
 

 

See Notes to Financial Statements.

 

112

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)		      Value($)  

Electronics 1.5%

 

Fortive Corp., 1.800%, 06/15/19(b)

     1,328,000        1,319,737  
    

 

 

  

Healthcare-Products 2.2%

 

Becton Dickinson and Co., 1.800%, 12/15/17

     907,000        907,677  

Thermo Fisher Scientific, Inc., 2.400%, 02/01/19

     1,010,000        1,018,522  
    

 

 

  
       1,926,199  
    

 

 

  

Healthcare-Services 0.8%

 

Aetna, Inc., 1.750%, 05/15/17

     660,000        660,062  
    

 

 

  

Housewares 1.5%

 

Newell Brands, Inc., 2.600%, 03/29/19

     1,332,000        1,348,469  
    

 

 

  

Insurance 0.6%

 

Berkshire Hathaway Finance Corp., 1.700%, 03/15/19

     531,000        531,919  
    

 

 

  

Internet 0.3%

 

eBay, Inc., 2.500%, 03/09/18

     256,000        257,946  
    

 

 

  

Miscellaneous Manufacturer 1.2%

 

Siemens Financieringsmaatschappij NV, 2.200%, 03/16/20(b)

     1,019,000        1,022,752  
    

 

 

  

Oil & Gas 2.4%

 

BP Capital Markets PLC, 1.783%,
09/26/18(a)

     1,168,000        1,175,521  

Chevron Corp., 1.686%, 02/28/19

     897,000        897,943  
    

 

 

  
       2,073,464  
    

 

 

  

Oil & Gas Services 2.3%

 

TechnipFMC PLC, 2.000%,
10/01/17

     2,000,000        1,999,308  
    

 

 

  

Pharmaceuticals 0.2%

 

McKesson Corp., 2.284%, 03/15/19

     214,000        215,542  
    

 

 

  

Pipelines 4.3%

 

Kinder Morgan, Inc., 2.000%, 12/01/17

     1,536,000        1,537,120  

TransCanada PipeLines Ltd., 1.625%, 11/09/17

     2,227,000        2,227,120  
    

 

 

  
       3,764,240  
    

 

 

  

Real Estate Investment Trust 2.5%

 

American Tower Corp., 4.500%, 01/15/18

     2,148,000        2,193,834  
    

 

 

  

Retail 0.8%

 

CVS Health Corp., 1.900%, 07/20/18

     656,000        657,298  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Semiconductors 0.9%

 

Broadcom Corp./Broadcom Cayman Finance Ltd., 2.375%, 01/15/20(b)

     770,000        769,907  
    

 

 

  

Telecommunication Services 1.0%

 

Verizon Communications, Inc., 1.375%, 08/15/19

     472,000        464,776  

Verizon Communications, Inc., 1.506%, 06/09/17(a)

     379,000        379,164  
    

 

 

  
       843,940  
    

 

 

  

Transportation 0.9%

 

Canadian National Railway Co., 1.206%, 11/14/17(a)

     831,000        831,490  
    

 

 

  

Total Corporate Bonds
(Cost $41,719,521)

        41,779,286  
    

 

 

  

U.S. Government Agency Mortgages 16.6%

 

Federal National Mortgage Association

     

Pool #AM2712, 1.535%, 03/01/18

     480,278        479,931  

Pool #467699, 1.189%, 05/01/18(a)

     234,590        234,495  

Pool #468910, 1.179%, 08/01/18(a)

     224,483        224,775  

Pool #AN3353, 1.349%, 09/01/21(a)

     1,000,000        1,000,459  

Pool #AN3539, 1.249%, 11/01/21(a)

     993,413        993,127  

Pool #AM7617, 1.249%, 08/01/22(a)

     962,008        962,398  

Pool #AN3414, 1.379%, 01/01/23(a)

     993,588        994,898  

Pool #AN1582, 1.219%, 09/01/23(a)

     1,000,000        1,000,549  

Pool #AN3845, 1.319%, 12/01/23(a)

     2,686,541        2,677,765  

Pool #AN4300, 1.339%, 01/01/24(a)

     3,070,572        3,065,790  

Pool #AN4364, 1.369%, 01/01/24(a)

     1,000,000        1,002,563  

Pool #AN3434, 1.429%, 09/01/24(a)

     1,825,000        1,825,471  
    

 

 

  

Total U.S. Government Agency Mortgages
(Cost $14,474,394)

        14,462,221  
    

 

 

  
 

 

See Notes to Financial Statements.

 

113

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Ultra-Short Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

U.S. Treasury Obligation 0.1%

 

U.S. Treasury Note 0.1%

 

0.875%, 05/15/17

     100,000        100,024  
    

 

 

  

Total U.S. Treasury Obligation
(Cost $100,017)

        100,024  
    

 

 

  

Money Market Fund 2.6%

 

State Street Institutional Treasury Money Market Fund, Premier Class, 0.53%(c)

     2,272,691        2,272,691  
    

 

 

  

Total Money Market Fund
(Cost $2,272,691)

        2,272,691  
    

 

 

  

Total Investments
(Cost $87,125,193) — 99.9%

        87,276,922  

Other Assets in Excess of Liabilities — 0.1%

        67,305  
    

 

 

  

Net Assets — 100.0%

      $ 87,344,227  
    

 

 

  

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2017.

 

(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 22.1% of net assets as of March 31, 2017.

 

(c) Rate disclosed, the 7 day yield, is as of March 31, 2017.

Investment Abbreviations

 

MTN   —   Medium Term Note
REMIC   —   Real Estate Mortgage Investment Conduit
 

 

Open Futures Contracts

At March 31, 2017, 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      $(21,848,725)        June 2017        101        $(13,040)  
              

 

 

  

 

See Notes to Financial Statements.

 

114

Table of Contents

SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Virginia Intermediate Municipal Bond Fund

 

     Shares or
Principal
Amount($)		      Value($)  
Municipal Bonds 97.4%  

District of Columbia 6.9%

     

Metropolitan Washington D.C. Airports Authority, Airport System, Series A, AMT, RB, 5.125%, 10/01/23

     1,000,000        1,055,440  

Metropolitan Washington D.C. Airports Authority, Airport System, Series B, RB, 5.000%, 10/01/26, BHAC

     2,175,000        2,359,135  
    

 

 

  
       3,414,575  
    

 

 

  

Georgia 2.4%

 

Private Colleges & Universities Authority, RB, 5.000%, 04/01/23

     1,065,000        1,192,672  
    

 

 

  

Guam 2.5%

 

Territory of Guam, Series A, RB, 5.000%, 12/01/33

     380,000        410,829  

Territory of Guam, Series A, RB, 5.000%, 12/01/34

     290,000        311,599  

Territory of Guam, Series A, RB, 5.000%, 12/01/46

     485,000        517,127  
    

 

 

  
       1,239,555  
    

 

 

  

North Carolina 6.7%

 

North Carolina Capital Facilities Finance Agency, Educational Facilities, RB, 5.000%, 05/01/32

     1,740,000        1,855,518  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/27(a)

     380,000        454,541  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/33(a)

     495,000        568,300  

North Carolina Medical Care Commission, RB, 5.000%, 10/01/35(a)

     380,000        432,144  
    

 

 

  
       3,310,503  
    

 

 

  

Virginia 78.9%

 

Chesapeake, Series A, GO, 5.000%, 08/01/23

     2,000,000        2,379,900  

Fairfax County, Series B, GO, 5.000%, 04/01/24, State Aid Withholding

     1,000,000        1,202,300  

Fairfax County Economic Development Authority, RB, 5.000%, 08/01/22(b)

     1,200,000        1,340,460  
     Shares or
Principal
Amount($)		      Value($)  

Virginia—continued

 

Fairfax County Industrial Development Authority, Series D, RB, 5.000%, 05/15/27

     500,000        569,180  

Fairfax County Water Authority, RB, 5.000%, 04/01/25

     1,550,000        1,780,981  

Fairfax County Water Authority, RB, 5.000%, 04/01/27

     600,000        686,634  

Greater Richmond Convention Center Authority, RB, 5.000%, 06/15/28

     875,000        1,011,238  

Greater Richmond Convention Center Authority, RB, 5.000%, 06/15/30

     1,000,000        1,139,860  

Greater Richmond Convention Center Authority, RB, 5.000%, 06/15/32

     1,000,000        1,124,340  

Hampton Roads Sanitation District Wastewater, RB, 5.000%, 04/01/24, Pre-refunded 04/01/2018 @ 100

     1,425,000        1,483,112  

Hanover County Economic Development Authority, Regional Medical Care Project, RB, 6.375%, 08/15/18, NATL-RE

     1,815,000        1,869,232  

Isle County Wight, Series A, GO, 5.000%, 07/01/35, State Aid Withholding

     750,000        843,930  

Loudoun County Industrial Development Authority, Series A, RB, 5.000%, 06/01/31

     1,000,000        1,106,350  

Norfolk Water Revenue, Series A, RB, 5.250%, 11/01/44(b)

     1,750,000        2,008,860  

Northern Virginia Transportation Authority, RB, 5.000%, 06/01/26(b)

     1,250,000        1,474,213  

Richmond Industrial Development Authority, Government Facilities, RB, 5.000%, 07/15/18, AMBAC

     1,795,000        1,858,812  

Roanoke Economic Development Authority, Hospital Revenue, RB, 5.000%, 07/01/27

     1,000,000        1,114,700  

Virginia College Building Authority, Educational Facilities Project, Washington & Lee University, RB, 5.375%, 01/01/21

     2,795,000        3,057,031  
 

 

See Notes to Financial Statements.

 

115

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SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

Seix Virginia Intermediate Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)		      Value($)  

Virginia—continued

 

Virginia Commonwealth Transportation Board, RB, 5.000%, 03/15/24

     2,000,000        2,308,660  

Virginia Commonwealth University, Health System Authority, RB, 5.000%, 07/01/30

     1,460,000        1,595,152  

Virginia Port Authority, Series A, AMT, RB, 5.000%, 07/01/32, Pre-refunded 07/01/2025 @ 100

     3,000,000        3,615,480  

Virginia Public Building Authority, Series A, RB, 5.000%, 08/01/31, Pre-refunded 08/01/2021 @ 100

     10,000        11,479  

Virginia Public School Authority, Series A, RB, 5.000%, 08/01/27, State Aid Withholding

     1,560,000        1,811,784  

Virginia Public School Authority, School Financing, RB, 5.000%, 07/15/26, Pre-refunded 07/15/2018 @ 100, State Aid Withholding

     1,000,000        1,051,810  

Virginia Resources Authority, RB, 5.000%, 11/01/28, Pre-refunded 11/01/2022 @ 100

     330,000        387,473  

Virginia Resources Authority, RB, 5.000%, 11/01/28

     1,970,000        2,305,668  
    

 

 

  
       39,138,639  
    

 

 

  

Total Municipal Bonds
(Cost $46,724,883)

        48,295,944  
    

 

 

  
     Shares or
Principal
Amount($)		      Value($)  

Money Market Fund 4.8%

 

Federated Government Obligations Tax-Managed Fund, Institutional Shares, 0.50%(c)

     2,388,399        2,388,399  
    

 

 

  

Total Money Market Fund
(Cost $2,388,399)

        2,388,399  
    

 

 

  

Total Investments
(Cost $49,113,282) — 102.2%

        50,684,343  

Liabilities in Excess of Other Assets — (2.2)%

        (1,091,503 ) 
    

 

 

  

Net Assets — 100.0%

      $ 49,592,840  
    

 

 

  

 

(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, 2017.

Investment Abbreviations

 

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
 

 

See Notes to Financial Statements.

 

116

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     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

      $221,742,239       $21,936,768       $6,513,780,600       $94,459,614       $91,619,943  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $222,753,413       $22,094,119       $6,467,462,352       $97,145,086       $93,690,804  

Interest Receivable

      1,047,778       182,178       21,076,196       1,216,761       843,862  

Securities Lending Income Receivable

      4,489       329       —       —       —  

Receivable for Capital Shares Issued

      162,720       138       10,911,606       6,696       162,363  

Receivable for Investment Securities Sold

      —       —       71,742,488       —       —  

Receivable for Investment Securities Sold on a When-issued Basis

      —       —       30,753,760       —       —  

Unrealized Appreciation on Unfunded Commitments

      —       —       47,129       —       —  

Receivable from Investment Adviser

      —       4,229       —       2,782       3,072  

Prepaid Expenses and Other Assets

      15,523       17,916       90,271       6,165       12,773  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      223,983,923       22,298,909       6,602,083,802       98,377,490       94,712,874  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

           

Payable for Investment Securities Purchased

      8,302,872       1,305,747       1,725,180       370,535       —  

Payable for Investment Securities Purchased on a When-issued Basis

      931,461       337,442       621,787,652       2,469,218       3,569,828  

Due to Custodian

      —       —       36,633       —       —  

Payable for Capital Shares Redeemed

      145,044       13,822       10,863,780       187,309       43,895  

Payable Upon Return of Securities Loaned

      —       10,525       —       —       —  

Income Distributions Payable

      27,552       1,675       4,616,337       3,183       31,770  

Investment Advisory Fees Payable

      45,778       6,812       2,026,286       40,646       42,894  

Compliance and Fund Services Fees Payable

      2,677       248       72,981       1,184       1,129  

Distribution and Service Fees Payable

      3,444       6,464       86,577       444       1,558  

Trustee Fees Payable

      134       12       3,619       59       56  

Other Accrued Expenses

      63,695       6,170       1,175,037       18,234       17,243  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      9,522,657       1,688,917       642,394,082       3,090,812       3,708,373  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $214,461,266       $20,609,992       $5,959,689,720       $95,286,678       $91,004,501  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

           

Capital

      $216,908,461       $20,486,496       $6,266,957,632       $92,220,078       $90,015,718  

Accumulated Net Investment Income (Loss)

      (328,589 )      (39,559 )      1,482,689       190,464       (7,091 ) 

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

      (3,129,780 )      5,704       (262,479,482 )      190,664       (1,074,987 ) 

Net Unrealized Appreciation (Depreciation) on Investments, Unfunded Commitments and Foreign Currencies

      1,011,174       157,351       (46,271,119 )      2,685,472       2,070,861  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $214,461,266       $20,609,992       $5,959,689,720       $95,286,678       $91,004,501  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

I Shares

      $199,622,363       $12,650,732       $4,459,174,952       $91,782,462       $78,728,904  

A Shares

      10,363,031       590,556       135,833,426       3,504,216       12,275,597  

C Shares

      —       7,368,704       56,980,793       —       —  

R Shares

      3,123,900       —       —       —       —  

IS Shares

      1,351,972       —       1,307,700,549       —       —  

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

           

I Shares

      18,889,052       1,462,473       509,486,815       8,759,539       6,738,337  

A Shares

      980,883       67,970       15,517,566       333,916       1,050,276  

C Shares

      —       852,008       6,508,252       —       —  

R Shares

      295,380       —       —       —       —  

IS Shares

      127,898       —       149,332,815       —       —  

Net Asset Value and Redemption Price Per Share:

           

I Shares

      $10.57       $8.65       $8.75       $10.48       $11.68  

A Shares

      10.56       8.69       8.75       10.49       11.69  

C Shares(a)

      —       8.65       8.76       —       —  

R Shares

      10.58       —       —       —       —  

IS Shares

      10.57       —       8.76       —       —  

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

           

A Shares

      $11.09       $9.12       $8.97       $11.01       $12.27  

Maximum Sales Charge — A Shares

      4.75 %      4.75 %      2.50 %      4.75 %      4.75 % 

 

* Investments include securities on loan of $—, $10,208, $—, $— and $—, respectively.

 

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

 

See Notes to Financial Statements.

 

117

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     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

      $557,153,524       $544,928,388       $526,219,925       $6,701,343       $25,537,797  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $565,666,402       $553,808,497       $541,467,909       $6,713,886       $26,207,836  

Cash

      86,708       63,963       —       —       —  

Interest Receivable

      9,480,511       7,970,706       5,958,612       5,015       250,710  

Securities Lending Income Receivable

      27,889       14,931       —       —       —  

Receivable for Capital Shares Issued

      5,858,026       17,499,994       969,344       —       353  

Receivable for Investment Securities Sold

      15,527,924       3,436,343       14,889,758       —       —  

Receivable for Investment Securities Sold on a When-issued Basis

      2,842,481       2,653,090       3,811,834       —       631,993  

Receivable from Investment Adviser

      —       —       14,041       997       1,323  

Prepaid Expenses and Other Assets

      27,519       38,945       18,532       3,131       4,731  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      599,517,460       585,486,469       567,130,030       6,723,029       27,096,946  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

           

Payable for Investment Securities Purchased

      2,876,352       6,439,917       3,885,322       —       —  

Payable for Investment Securities Purchased on a When-issued Basis

      7,898,763       4,732,316       21,740,707       —       3,055,894  

Payable Due to Affiliate

      —       —       —       54,461       —  

Payable for Capital Shares Redeemed

      1,646,020       684,128       924,329       —       33,137  

Payable Upon Return of Securities Loaned

      47,734,256       40,822,863       —       —       —  

Income Distributions Payable

      60,346       390,619       134,822       5,320       8,145  

Investment Advisory Fees Payable

      270,504       197,506       230,253       570       10,358  

Compliance and Fund Services Fees Payable

      6,821       6,345       6,712       84       293  

Distribution and Service Fees Payable

      22,432       973       5,161       —       275  

Trustee Fees Payable

      335       313       334       4       15  

Other Accrued Expenses

      146,429       92,301       137,366       1,454       5,612  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      60,662,258       53,367,281       27,065,006       61,893       3,113,729  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $538,855,202       $532,119,188       $540,065,024       $6,661,136       $23,983,217  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

           

Capital

      $618,943,860       $588,847,295       $531,593,684       $7,466,031       $23,527,803  

Accumulated Net Investment Income (Loss)

      (413,377 )      (1,080,429 )      (228,988 )      (774 )      (46,482 ) 

Accumulated Net Realized Loss from Investments

      (88,188,159 )      (64,527,787 )      (6,547,656 )      (816,664 )      (168,143 ) 

Net Unrealized Appreciation on Investments

      8,512,878       8,880,109       15,247,984       12,543       670,039  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $538,855,202       $532,119,188       $540,065,024       $6,661,136       $23,983,217  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

I Shares

      $456,928,155       $483,080,164       $519,784,333       $6,661,136       $21,812,781  

A Shares

      63,103,766       6,213,518       20,280,691       —       2,170,436  

R Shares

      14,698,589       130,290       —       —       —  

IS Shares

      4,124,692       42,695,216       —       —       —  

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

           

I Shares

      70,765,291       57,746,156       44,661,911       676,440       2,176,302  

A Shares

      9,762,184       761,540       1,740,547       —       217,065  

R Shares

      2,274,779       15,577       —       —       —  

IS Shares

      639,133       5,101,099       —       —       —  

Net Asset Value and Redemption Price Per Share:

           

I Shares

      $6.46       $8.37       $11.64       $9.85       $10.02  

A Shares

      6.46       8.16       11.65       —       10.00  

R Shares

      6.46       8.36       —       —       —  

IS Shares

      6.45       8.37       —       —       —  

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

           

A Shares

      $6.78       $8.57       $12.23       $—       $10.50  

Maximum Sales Charge — A Shares

      4.75 %      4.75 %      4.75 %      —       4.75 % 

 

* Investments include securities on loan of $56,090,727, $48,063,923, $—, $— and $—, respectively.

 

See Notes to Financial Statements.

 

118

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     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

      $55,312,114       $29,082,953       $976,485,145       $1,392,665,197       $25,430,021  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments, at Value*

      $55,304,805       $29,113,065       $982,758,553       $1,398,363,929       $25,366,233  

Cash

      —       —       —       12,528       —  

Receivable Due from Affiliate

      —       —       —       —       54,461  

Interest Receivable

      191,735       297,614       5,558,304       1,945,153       82,519  

Upfront payments on Swap Contracts

      —       —       754,843       —       —  

Securities Lending Income Receivable

      —       —       23,418       —       —  

Foreign Currency, at Value (Cost $—, $—, $9,613, and $—, respectively)

      —       —       10,492       —       —  

Receivable for Capital Shares Issued

      261,159       57,462       2,111,520       1,787,210       36,569  

Receivable for Investment Securities Sold

      —       —       —       2,340,512       —  

Unrealized Appreciation on Forward Foreign Currency Contracts

      —       —       405,785       —       —  

Unrealized Appreciation on Swap Contracts

      —       —       13,249       —       —  

Premiums Receivable on Open Swap Agreements

      —       —       20,833       —       —  

Receivable from Investment Adviser

      4,445       4,886       —       —       6,657  

Prepaid Expenses and Other Assets

      18,614       7,415       40,097       40,726       10,387  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Assets

      55,780,758       29,480,442       991,697,094       1,404,490,058       25,556,826  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

           

Payable for Investment Securities Purchased

      —       —       20,462,223       2,047,111       —  

Payable for Investment Securities Purchased on a When-issued Basis

      —       777,780       4,240,991       —       —  

Payable for Capital Shares Redeemed

      98,711       155,230       1,259,918       1,778,792       13,481  

Payable Upon Return of Securities Loaned

      —       —       5,199,918       —       —  

Income Distributions Payable

      6,281       8,617       57,152       145,694       998  

Unrealized Depreciation on Forward Foreign Currency Contracts

      —       —       1,152,566       —       —  

Investment Advisory Fees Payable

      18,793       8,304       197,935       223,224       8,590  

Compliance and Fund Services Fees Payable

      686       340       11,841       17,061       315  

Payable for Variation Margin on Futures Contracts

      —       —       —       50,079       —  

Distribution and Service Fees Payable

      1,559       233       23,103       —       4,314  

Trustee Fees Payable

      34       17       589       845       16  

Other Accrued Expenses

      12,231       9,479       247,113       327,852       14,785  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Liabilities

      138,295       960,000       32,853,349       4,590,658       42,499  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Net Assets

      $55,642,463       $28,520,442       $958,843,745       $1,399,899,400       $25,514,327  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets Consist of:

           

Capital

      $56,943,492       $28,501,032       $969,850,603       $1,409,386,019       $25,702,847  

Accumulated Net Investment Loss

      (2,593 )      (1,434 )      (1,594,575 )      (2,436 )      (15,738 ) 

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

      (1,291,127 )      (9,268 )      (14,985,648 )      (15,094,308 )      (108,994 ) 

Net Unrealized Appreciation (Depreciation) on Investments, Futures, Swaps and Foreign Currencies

      (7,309 )      30,112       5,573,365       5,610,125       (63,788 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets

      $55,642,463       $28,520,442       $958,843,745       $1,399,899,400       $25,514,327  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

           

I Shares

      $52,023,791       $26,710,074       $790,996,864       $1,367,242,241       $17,619,681  

A Shares

      2,308,327       1,810,368       27,284,227       —       3,594,134  

C Shares

      1,310,345       —       —       —       4,300,512  

R Shares

      —       —       39,541,003       —       —  

IS Shares

      —       —       101,021,651       32,657,159       —  

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

           

I Shares

      5,242,222       2,688,568       75,929,656       136,337,553       1,585,214  

A Shares

      232,008       182,323       2,533,359       —       323,941  

C Shares

      131,762       —       —       —       386,937  

R Shares

      —       —       3,794,921       —       —  

IS Shares

      —       —       9,695,685       3,252,261       —  

Net Asset Value and Redemption Price Per Share:

           

I Shares

      $9.92       $9.93       $10.42       $10.03       $11.12  

A Shares

      9.95       9.93       10.77       —       11.10  

C Shares(a)

      9.94       —       —       —       11.11  

R Shares

      —       —       10.42       —       —  

IS Shares

      —       —       10.42       10.04       —  

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

           

A Shares

      $10.21       $10.18       $11.31       $—       $11.38  

Maximum Sales Charge — A Shares

      2.50 %      2.50 %      4.75 %      —       2.50 % 

* Investments include securities on loan of $—, $—, $5,073,159, $— and $—, respectively.

 

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

 

See Notes to Financial Statements.

 

119

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2017

 

     Seix Ultra-
Short Bond
Fund		     Seix Virginia
Intermediate
Municipal
Bond Fund		  

Assets:

     

Total Investments, at Cost

      $87,125,193       $49,113,282  
  

 

 

    

 

 

  

Total Investments, at Value

      $87,276,922       $50,684,343  

Cash

      2,000       —  

Interest Receivable

      298,590       640,581  

Receivable for Capital Shares Issued

      2,375       216  

Receivable from Investment Adviser

      —       480  

Prepaid Expenses and Other Assets

      12,635       5,928  
  

 

 

    

 

 

  

Total Assets

      87,592,522       51,331,548  
  

 

 

    

 

 

  

Liabilities:

     

Payable for Investment Securities Purchased on a When-issued Basis

      —       1,515,326  

Payable for Capital Shares Redeemed

      188,570       112,913  

Income Distributions Payable

      10,060       77,493  

Investment Advisory Fees Payable

      20,496       21,009  

Compliance and Fund Services Fees Payable

      1,125       612  

Payable for Variation Margin on Futures Contracts

      7,891       —  

Distribution and Service Fees Payable

      —       453  

Trustee Fees Payable

      54       30  

Other Accrued Expenses

      20,099       10,872  
  

 

 

    

 

 

  

Total Liabilities

      248,295       1,738,708  
  

 

 

    

 

 

  

Total Net Assets

      $87,344,227       $49,592,840  
  

 

 

    

 

 

  

Net Assets Consist of:

     

Capital

      $89,159,626       $47,997,389  

Accumulated Net Investment Income (Loss)

      (1,953 )      18,991  

Accumulated Net Realized Gain (Loss) from Investments and Futures

      (1,952,135 )      5,399  

Net Unrealized Appreciation on Investments and Futures

      138,689       1,571,061  
  

 

 

    

 

 

  

Net Assets

      $87,344,227       $49,592,840  
  

 

 

    

 

 

  

Net Assets:

     

I Shares

      $87,344,227       $45,969,150  

A Shares

      —       3,623,690  

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

     

I Shares

      8,772,190       4,812,704  

A Shares

      —       379,475  

Net Asset Value and Redemption Price Per Share:

     

I Shares

      $9.96       $9.55  

A Shares

      —       9.55  

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

     

A Shares

      $—       $10.03  

Maximum Sales Charge — A Shares

      —       4.75 % 

 

See Notes to Financial Statements.

 

120

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     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

    $ 5,053,736     $ 711,665     $ 256,394,283     $ 3,592,550     $ 2,951,315  

Dividend Income

      —       —       1,102,867       —       —  

Net Income from Securities Lending

      35,116       4,629       —       —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      5,088,852       716,294       257,497,150       3,592,550       2,951,315  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

 

Investment Advisory Fees

      611,681       77,773       19,502,286       543,382       531,149  

Administration Fees

      24,270       1,929       470,239       10,780       10,537  

Fund Accounting Fees

      30,595       2,399       565,248       13,564       13,206  

Transfer Agency Fees

      53,601       13,597       1,756,484       19,435       30,548  

Compliance & Fund Services Fees

      13,857       1,084       273,234       6,160       6,081  

Distribution and Service Fees — A Shares

      25,546       1,667       444,271       5,417       20,601  

Distribution and Service Fees — C Shares

      —       79,762       553,515       —       —  

Distribution and Service Fees — R Shares

      16,867       —       —       —       —  

Shareholder Servicing Fees — I Shares

      323,676       12,564       3,553,212       108,909       73,970  

Shareholder Servicing Fees — A Shares

      3,637       160       177,927       409       3,069  

Shareholder Servicing Fees — R Shares

      1,783       —       —       —       —  

Custodian Fees

      7,096       6,857       768,702       6,133       8,160  

Printing Fees

      14,753       2,177       346,172       4,271       6,193  

Registration Fees

      58,973       40,912       66,378       13,980       32,718  

Trustee Fees

      14,234       1,108       267,989       6,291       6,279  

Professional Fees

      11,725       1,122       257,040       5,279       5,127  

Other Fees

      25,378       10,273       358,720       13,776       14,382  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      1,237,672       253,384       29,361,417       757,786       762,020  

Recoupment of Prior Reimbursement

      42       —       122       —       476  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      —       (40,902 )      —       (47,286 )      (49,128 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      1,237,714       212,482       29,361,539       710,500       713,368  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      3,851,138       503,812       228,135,611       2,882,050       2,237,947  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Unfunded Commitments and Foreign Currencies:

           

Net Realized Gain (Loss) from:

           

Investments, Unfunded Commitments and Foreign Currency Transactions

      1,154,181       492,725       (77,680,897 )      1,101,405       952,328  

Net Change in Unrealized Appreciation (Depreciation) on:

           

Investments, Unfunded Commitments and Foreign Currencies

      (1,910,534 )      61,134       292,073,526       (4,501,624 )      (3,081,746 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Unfunded Commitments and Foreign Currencies

      (756,353 )      553,859       214,392,629       (3,400,219 )      (2,129,418 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

    $ 3,094,785     $ 1,057,671     $ 442,528,240     $ (518,169 )    $ 108,529  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

121

Table of Contents

STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     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

    $ 40,666,436     $ 34,573,648     $ 18,338,059     $ 68,399     $ 834,186  

Dividend Income

      384,196       —       —       —       1,769  

Net Income from Securities Lending

      381,897       217,620       —       —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      41,432,529       34,791,268       18,338,059       68,399       835,955  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

 

Investment Advisory Fees

      3,251,539       2,475,941       3,074,220       6,687       146,069  

Administration Fees

      59,127       54,843       61,585       663       2,898  

Fund Accounting Fees

      72,752       67,489       77,510       831       3,706  

Transfer Agency Fees

      131,297       126,494       145,061       950       10,209  

Compliance & Fund Services Fees

      32,387       30,846       35,367       378       1,597  

Distribution and Service Fees — A Shares

      155,257       13,861       67,889       —       3,054  

Distribution and Service Fees — R Shares

      74,853       1,367       —       —       —  

Shareholder Servicing Fees — I Shares

      846,494       551,624       711,816       —       20,748  

Shareholder Servicing Fees — A Shares

      48,105       1,687       8,808       —       103  

Shareholder Servicing Fees — R Shares

      11,717       5       —       —       —  

Custodian Fees

      19,549       14,505       13,977       4,905 (a)      4,723  

Printing Fees

      77,424       35,974       28,668       772       1,496  

Registration Fees

      61,850       60,123       34,550       7,595       11,527  

Trustee Fees

      34,406       32,016       36,524       384       1,690  

Professional Fees

      30,841       28,063       30,165       336       1,443  

Tax Fees

      —       —       —       5,990       —  

Miscellaneous Fees

      —       —       —       719       —  

Other Fees

      50,425       47,606       47,015       301       8,496  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      4,958,023       3,542,444       4,373,155       30,511       217,759  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (20,361 )      —       (291,442 )      (7,891 )      (26,028 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      4,937,662       3,542,444       4,081,713       22,620       191,731  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      36,494,867       31,248,824       14,256,346       45,779       644,224  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments:

 

Net Realized Gain (Loss) from:

 

Investment Transactions

      (7,973,253 )      (427,708 )      924,917       8,944       325,019  

Net Change in Unrealized Appreciation (Depreciation) on:

 

Investments

      59,806,633       37,923,724       (18,455,462 )      1,542       (1,112,107 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments

      51,833,380       37,496,016       (17,530,545 )      10,486       (787,088 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

    $ 88,328,247     $ 68,744,840     $ (3,274,199 )    $ 56,265     $ (142,864 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Includes a non-recurring refund for overbilling of prior years’.

 

See Notes to Financial Statements.

 

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STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     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

      $737,660       $413,792       $25,481,150       $17,078,485       $454,355  

Net Income from Securities Lending

      —       —       298,465       —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Investment Income

      737,660       413,792       25,779,615       17,078,485       454,355  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Expenses:

 

Investment Advisory Fees

      215,396       117,677       2,443,768       2,859,419       134,253  

Administration Fees

      5,342       3,335       99,557       149,311       3,329  

Fund Accounting Fees

      6,710       4,173       124,795       181,815       4,254  

Transfer Agency Fees

      8,685       12,786       89,462       179,508       22,701  

Compliance & Fund Services Fees

      3,013       1,966       57,189       86,219       1,895  

Distribution and Service Fees — A Shares

      4,202       6,391       78,296       —       12,999  

Distribution and Service Fees — C Shares

      16,014       —       —       —       48,902  

Distribution and Service Fees — R Shares

      —       —       232,457       —       —  

Shareholder Servicing Fees — I Shares

      59,382       28,192       1,204,869       2,351,981       33,863  

Shareholder Servicing Fees — A Shares

      749       986       41,198       —       4,996  

Shareholder Servicing Fees — R Shares

      —       —       115,398       —       —  

Custodian Fees

      5,654       6,976       33,752       18,258       9,183  

Printing Fees

      3,393       —       81,371       112,811       3,336  

Registration Fees

      41,901       31,139       56,376       34,903       42,753  

Trustee Fees

      3,094       1,991       58,855       87,064       1,982  

Professional Fees

      2,720       1,561       50,216       75,743       1,537  

Other Fees

      10,450       9,354       75,318       105,806       11,804  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Expenses

      386,705       226,527       4,842,877       6,242,838       337,787  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      (48,049 )      (57,092 )      —       —       (43,772 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Expenses

      338,656       169,435       4,842,877       6,242,838       294,015  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Investment Income

      399,004       244,357       20,936,738       10,835,647       160,340  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Futures, Swaps and Foreign Currencies:

           

Net Realized Gain (Loss) from:

           

Investments and Foreign Currency Transactions

      (32,738 )      32,037       4,586,392       9,086,927       389,589  

Futures Contracts

      —       —       —       1,242,812       —  

Swap Contracts

      —       —       (6,196,962 )      —       —  

Forward Foreign Currency Contracts

      —       —       852,628       —       —  

Net Change in Unrealized Appreciation (Depreciation) on:

           

Investments and Foreign Currencies

      (244,199 )      (148,818 )      (5,665,835 )      (6,947,410 )      (560,037 ) 

Futures Contracts

      —       —       —       (42,548 )      —  

Swap Contracts

      —       —       13,249       —       —  

Forward Foreign Currency Contracts

      —       —       52,694       —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments, Futures, Swaps and Foreign Currencies

      (276,937 )      (116,781 )      (6,357,834 )      3,339,781       (170,448 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      $122,067       $127,576       $14,578,904       $14,175,428       $(10,108 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

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STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Fiscal Year Ended March 31, 2017

 

     Seix
Ultra-Short
Bond Fund		     Seix Virginia
Intermediate
Municipal
Bond Fund		  

Investment Income:

     

Interest Income

      $1,482,478       $1,957,489  

Dividend Income

      —       1,510  
  

 

 

    

 

 

  

Total Investment Income

      1,482,478       1,958,999  
  

 

 

    

 

 

  

Expenses:

     

Investment Advisory Fees

      224,130       319,847  

Administration Fees

      10,109       6,345  

Fund Accounting Fees

      12,996       7,870  

Transfer Agency Fees

      37,996       16,003  

Compliance & Fund Services Fees

      5,273       3,660  

Distribution and Service Fees — A Shares

      —       6,151  

Shareholder Servicing Fees — I Shares

      59,958       48,131  

Shareholder Servicing Fees — A Shares

      —       511  

Custodian Fees

      10,518       5,669  

Printing Fees

      6,780       2,727  

Registration Fees

      20,757       18,483  

Trustee Fees

      5,750       3,762  

Professional Fees

      5,405       3,038  

Other Fees

      12,212       11,250  
  

 

 

    

 

 

  

Total Expenses

      411,884       453,447  

Less: Investment Advisory Fees Waived/Expenses Reimbursed

      —       (32,565 ) 
  

 

 

    

 

 

  

Net Expenses

      411,884       420,882  
  

 

 

    

 

 

  

Net Investment Income

      1,070,594       1,538,117  
  

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Futures:

     

Net Realized Gain from:

     

Investment Transactions

      282,215       437,460  

Futures Contracts

      95,342       —  

Net Change in Unrealized Depreciation on:

     

Investments

      (9,488 )      (2,098,807 ) 

Futures Contracts

      (4,671 )      —  
  

 

 

    

 

 

  

Net Realized and Unrealized Gain (Loss) on Investments and Futures

      363,398       (1,661,347 ) 
  

 

 

    

 

 

  

Change in Net Assets from Operations

      $1,433,992       $(123,230 ) 
  

 

 

    

 

 

  

 

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		  
    04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

            

Net Investment Income

   $ 3,851,138     $ 4,559,362     $ 503,812     $ 558,071     $ 228,135,611     $ 270,641,643  

Net Realized Gain (Loss)

     1,154,181       2,205,179       492,725       (322,983 )      (77,680,897 )      (165,631,300 ) 

Net Change in Unrealized Appreciation (Depreciation)

     (1,910,534 )      (2,686,468 )      61,134       (719,668 )      292,073,526       (230,916,711 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     3,094,785       4,078,073       1,057,671       (484,580 )      442,528,240       (125,906,368 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

            

Net Investment Income:

            

I Shares

     (4,356,627 )      (4,785,178 )      (326,605 )      (354,519 )      (158,634,322 )      (206,044,061 ) 

A Shares

     (179,400 )      (165,495 )      (15,305 )      (15,352 )      (6,541,229 )      (6,594,772 ) 

C Shares

     —       —       (161,930 )      (159,856 )      (2,131,510 )      (2,272,834 ) 

R Shares

     (50,106 )      (54,464 )      —       —       —       —  

IS Shares*

     (19,004 )      (272 )      —       —       (56,471,002 )      (52,282,087 ) 

Tax Return of Capital:

            

I Shares

     —       —       —       (15,032 )      —       —  

A Shares

     —       —       —       (698 )      —       —  

C Shares

     —       —       —       (9,948 )      —       —  

Net Realized Gains:

            

I Shares

     (4,194,889 )      (1,672,598 )      (91,294 )      (208,083 )      —       —  

A Shares

     (194,403 )      (65,096 )      (5,365 )      (10,866 )      —       —  

C Shares

     —       —       (69,578 )      (193,921 )      —       —  

R Shares

     (64,394 )      (28,138 )      —       —       —       —  

IS Shares*

     (23,253 )      (54 )      —       —       —       —  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (9,082,076 )      (6,771,295 )      (670,077 )      (968,275 )      (223,778,063 )      (267,193,754 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (48,714,298 )      69,050,058       2,674,088       (15,267,803 )      1,374,198,658       (1,513,564,786 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (54,701,589 )      66,356,836       3,061,682       (16,720,658 )      1,592,948,835       (1,906,664,908 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

            

Beginning of Year

     269,162,855       202,806,019       17,548,310       34,268,968       4,366,740,885       6,273,405,793  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 214,461,266     $ 269,162,855     $ 20,609,992     $ 17,548,310     $ 5,959,689,720     $ 4,366,740,885  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ (328,589 )    $ (328,472 )    $ (39,559 )    $ (39,531 )    $ 1,482,689     $ 4,095,610  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 3, 2015 for Seix Core Bond Fund.

 

See Notes to Financial Statements.

 

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STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

     Seix Georgia Tax-Exempt
Bond Fund		     Seix High Grade Municipal
Bond Fund		     Seix High Income Fund  
     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income

    $ 2,882,050     $ 3,197,473     $ 2,237,947     $ 2,517,843     $ 36,494,867     $ 47,032,426  

Net Realized Gain (Loss)

      1,101,405       1,669,446       952,328       1,682,084       (7,973,253 )      (58,073,794 ) 

Net Change in Unrealized Appreciation (Depreciation)

      (4,501,624 )      (736,695 )      (3,081,746 )      196,585       59,806,633       (38,219,968 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      (518,169 )      4,130,224       108,529       4,396,512       88,328,247       (49,261,336 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

      (2,789,673 )      (3,111,493 )      (1,965,284 )      (2,217,002 )      (31,378,042 )      (42,544,235 ) 

A Shares

      (92,375 )      (85,979 )      (272,649 )      (300,812 )      (3,042,304 )      (3,358,446 ) 

C Shares

      —       —       —       —       —       —  

R Shares

      —       —       —       —       (852,344 )      (1,038,413 ) 

IS Shares

      —       —       —       —       (997,452 )      (286,022 ) 

Net Realized Gains:

 

I Shares

      (1,369,638 )      —       (3,129,133 )      (990,891 )      —       —  

A Shares

      (47,774 )      —       (479,810 )      (140,501 )      —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

      (4,299,460 )      (3,197,472 )      (5,846,876 )      (3,649,206 )      (36,270,142 )      (47,227,116 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

      (11,207,575 )      (25,139,236 )      (17,056,290 )      792,328       (119,121,100 )      (140,908,042 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

      (16,025,204 )      (24,206,484 )      (22,794,637 )      1,539,634       (67,062,995 )      (237,396,494 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

      111,311,882       135,518,366       113,799,138       112,259,504       605,918,197       843,314,691  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

    $ 95,286,678     $ 111,311,882     $ 91,004,501     $ 113,799,138     $ 538,855,202     $ 605,918,197  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

    $ 190,464     $ 190,525     $ (7,091 )    $ (7,042 )    $ (413,377 )    $ (411,451 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

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STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

     Seix High Yield Fund     Seix Investment Grade
Tax-Exempt Bond Fund		     Seix Limited Duration Fund  
     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income

    $ 31,248,824     $ 36,691,076     $ 14,256,346     $ 15,143,860     $ 45,779     $ 19,390  

Net Realized Gain (Loss)

      (427,708 )      (43,330,132 )      924,917       5,969,610       8,944       (658 ) 

Net Change in Unrealized Appreciation (Depreciation)

      37,923,724       (32,060,695 )      (18,455,462 )      (2,477,315 )      1,542       (2,502 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      68,744,840       (38,699,751 )      (3,274,199 )      18,636,155       56,265       16,230  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

      (29,771,414 )      (36,915,937 )      (13,768,445 )      (14,552,251 )      (43,695 )      (17,332 ) 

A Shares

      (303,419 )      (432,905 )      (487,891 )      (591,504 )      —       —  

R Shares

      (14,449 )      (34,562 )      —       —       —       —  

IS Shares*

      (960,427 )      —       —       —       —       —  

Net Realized Gains:

 

I Shares

      —       —       (12,950,128 )      (7,129,553 )      —       —  

A Shares

      —       —       (492,260 )      (294,359 )      —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

      (31,049,709 )      (37,383,404 )      (27,698,724 )      (22,567,667 )      (43,695 )      (17,332 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

      (36,818,019 )      (96,627,566 )      (83,257,726 )      (29,063,575 )      —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

      877,112       (172,710,721 )      (114,230,649 )      (32,995,087 )      12,570       (1,102 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

      531,242,076       703,952,797       654,295,673       687,290,760       6,648,566       6,649,668  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

    $ 532,119,188     $ 531,242,076     $ 540,065,024     $ 654,295,673     $ 6,661,136     $ 6,648,566  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

    $ (1,080,429 )    $ (1,279,544 )    $ (228,988 )    $ (228,333 )    $ (774 )    $ (772 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

* IS Shares commenced operations on August 1, 2016 for Seix High Yield Fund.

 

See Notes to Financial Statements.

 

127

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

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		  
     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income

    $ 644,224     $ 770,051     $ 399,004     $ 298,032     $ 244,357     $ 166,035  

Net Realized Gain (Loss)

      325,019       555,848       (32,738 )      38,645       32,037       130  

Net Change in Unrealized Appreciation (Depreciation)

      (1,112,107 )      (368,882 )      (244,199 )      40,850       (148,818 )      20,433  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

      (142,864 )      957,017       122,067       377,527       127,576       186,598  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

      (603,099 )      (757,161 )      (417,866 )      (339,902 )      (221,552 )      (153,305 ) 

A Shares

      (41,126 )      (12,890 )      (13,419 )      (10,552 )      (22,800 )      (12,722 ) 

C Shares

      —       —       (441 )      —       —       —  

Net Realized Gains:

 

I Shares

      (601,845 )      (159,925 )      —       —       (38,814 )      (72,254 ) 

A Shares

      (55,483 )      (2,916 )      —       —       (2,551 )      (13,070 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

      (1,301,553 )      (932,892 )      (431,726 )      (350,454 )      (285,717 )      (251,351 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

      (3,640,497 )      (8,940,946 )      2,358,004       (1,168,383 )      (10,860,150 )      (2,929,472 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

      (5,084,914 )      (8,916,821 )      2,048,345       (1,141,310 )      (11,018,291 )      (2,994,225 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

      29,068,131       37,984,952       53,594,118       54,735,428       39,538,733       42,532,958  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

    $ 23,983,217     $ 29,068,131     $ 55,642,463     $ 53,594,118     $ 28,520,442     $ 39,538,733  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Loss, End of Year

    $ (46,482 )    $ (57,474 )    $ (2,593 )    $ (2,124 )    $ (1,434 )    $ (1,437 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

128

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

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  
    04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

            

Net Investment Income

   $ 20,936,738     $ 20,357,092     $ 10,835,647     $ 9,110,055     $ 160,340     $ 214,939  

Net Realized Gain (Loss)

     (757,942 )      7,591,506       10,329,739       (565,911 )      389,589       255,310  

Net Change in Unrealized Appreciation (Depreciation)

     (5,599,892 )      (14,342,369 )      (6,989,958 )      (10,067,510 )      (560,037 )      181,370  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     14,578,904       13,606,229       14,175,428       (1,523,366 )      (10,108 )      651,619  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

     (18,604,588 )      (19,336,958 )      (14,554,664 )      (12,422,092 )      (391,273 )      (291,602 ) 

A Shares

     (603,387 )      (635,699 )      —       —       (100,344 )      (89,133 ) 

C Shares

     —       —       —       —       (40,493 )      (39,997 ) 

R Shares

     (723,083 )      (769,627 )      —       —       —       —  

IS Shares*

     (1,825,589 )      (1,476,134 )      (71,161 )      —       —       —  

Net Realized Gains:

 

I Shares

     (12,508,663 )      (1,023,082 )      —       —       (63,289 )      —  

A Shares

     (428,975 )      (34,543 )      —       —       (23,506 )      —  

C Shares

     —       —       —       —       (15,024 )      —  

R Shares

     (705,156 )      (55,720 )      —       —       —       —  

IS Shares

     (1,678,943 )      (72,019 )      —       —       —       —  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (37,078,384 )      (23,403,782 )      (14,625,825 )      (12,422,092 )      (633,929 )      (420,732 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (128,716,363 )      (31,719,301 )      (157,549,463 )      (94,042,939 )      (10,947,159 )      24,033,593  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (151,215,843 )      (41,516,854 )      (157,999,860 )      (107,988,397 )      (11,591,196 )      24,264,480  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

     1,110,059,588       1,151,576,442       1,557,899,260       1,665,887,657       37,105,523       12,841,043  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 958,843,745     $ 1,110,059,588     $ 1,399,899,400     $ 1,557,899,260     $ 25,514,327     $ 37,105,523  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Loss, End of Year

   $ (1,594,575 )    $ (2,006,504 )    $ (2,436 )    $ (2,617 )    $ (15,738 )    $ (15,736 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* IS Shares commenced operations on August 1, 2016 for Seix U.S. Government Securities Ultra-Short Bond Fund.

 

See Notes to Financial Statements.

 

129

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Fiscal Years Indicated

 

    Seix Ultra-Short Bond Fund     Seix Virginia Intermediate
Municipal Bond Fund		  
    04/01/16-
03/31/17		     04/01/15-
03/31/16		     04/01/16-
03/31/17		     04/01/15-
03/31/16		  

Operations:

 

Net Investment Income

   $ 1,070,594     $ 871,064     $ 1,538,117     $ 2,408,083  

Net Realized Gain (Loss)

     377,557       (240,620 )      437,460       2,374,971  

Net Change in Unrealized Appreciation (Depreciation)

     (14,159 )      (225,271 )      (2,098,807 )      (1,983,765 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Operations

     1,433,992       405,173       (123,230 )      2,799,289  
 

 

 

    

 

 

    

 

 

    

 

 

  

Dividends and Distributions to Shareholders:

 

Net Investment Income:

 

I Shares

     (1,125,578 )      (924,985 )      (1,444,472 )      (2,299,604 ) 

A Shares

     —       —       (93,644 )      (108,482 ) 

Net Realized Gains:

 

I Shares

     —       —       (1,669,221 )      (1,946,468 ) 

A Shares

     —       —       (110,062 )      (115,930 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Total Dividends and Distributions

     (1,125,578 )      (924,985 )      (3,317,399 )      (4,470,484 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets from Capital Transactions

     (17,914,481 )      (37,209,500 )      (15,984,164 )      (53,566,152 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Change in Net Assets

     (17,606,067 )      (37,729,312 )      (19,424,793 )      (55,237,347 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Net Assets:

 

Beginning of Year

     104,950,294       142,679,606       69,017,633       124,254,980  
 

 

 

    

 

 

    

 

 

    

 

 

  

End of Year

   $ 87,344,227     $ 104,950,294     $ 49,592,840     $ 69,017,633  
 

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated Net Investment Income (Loss), End of Year

   $ (1,953 )    $ (2,389 )    $ 18,991     $ 19,172  
 

 

 

    

 

 

    

 

 

    

 

 

  

 

See Notes to Financial Statements.

 

130

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, 2017

     $10.86       $0.17       $(0.04 )      $0.13       $(0.21 )      $—       $(0.21 )      $(0.42 )      $10.57       $199,622       1.15 %      0.49 %      0.49 %      1.58 %      210 % 

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  

A Shares

                              

Year Ended March 31, 2017

     10.86       0.16       (0.06 )      0.10       (0.19 )      —       (0.21 )      (0.40 )      10.56       10,363       0.90 (g)      0.64       0.64       1.45       210  

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  

R Shares

                              

Year Ended March 31, 2017

     10.87       0.13       (0.05 )      0.08       (0.16 )      —       (0.21 )      (0.37 )      10.58       3,124       0.73       0.91       0.91       1.18       210  

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  

IS Shares

                              

Year Ended March 31, 2017

     10.86       0.19       (0.05 )      0.14       (0.22 )      —       (0.21 )      (0.43 )      10.57       1,352       1.29       0.35       0.35       1.78       210  

Period Ended March 31, 2016(e)

     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, 2017

     8.46       0.26       0.27       0.53       (0.26 )      —       (0.08 )      (0.34 )      8.65       12,651       6.29       0.70       0.93       2.99       182  

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  

A Shares

                              

Year Ended March 31, 2017

     8.50       0.24       0.27       0.51       (0.24 )      —       (0.08 )      (0.32 )      8.69       591       6.01       0.95       1.15       2.75       182  

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  

C Shares

                              

Year Ended March 31, 2017

     8.46       0.18       0.27       0.45       (0.18 )      —       (0.08 )      (0.26 )      8.65       7,369       5.29       1.65       1.82       2.03       182  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

131

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 Floating Rate High Income Fund

 

                            

I Shares

                              

Year Ended March 31, 2017

     $8.33       $0.41       $0.42       $0.83       $(0.41 )      $—       $—       $(0.41 )      $8.75       $4,459,175       10.13 %      0.63 %      0.63 %      4.80 %      79 % 

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  

A Shares

                              

Year Ended March 31, 2017

     8.33       0.39       0.41       0.80       (0.38 )      —       —       (0.38 )      8.75       135,833       9.78       0.94       0.94       4.51       79  

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  

C Shares

                              

Year Ended March 31, 2017

     8.33       0.34       0.42       0.76       (0.33 )      —       —       (0.33 )      8.76       56,981       9.28       1.52       1.52       3.94       79  

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  

IS Shares

                              

Year Ended March 31, 2017

     8.33       0.43       0.42       0.85       (0.42 )      —       —       (0.42 )      8.76       1,307,701       10.37       0.52       0.52       4.94       79  

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, 2017

     10.96       0.29       (0.34 )      (0.05 )      (0.29 )      —       (0.14 )      (0.43 )      10.48       91,782       (0.47 )      0.65       0.70       2.66       46  

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  

A Shares

                              

Year Ended March 31, 2017

     10.98       0.28       (0.35 )      (0.07 )      (0.28 )      —       (0.14 )      (0.42 )      10.49       3,504       (0.66 )      0.75       0.75       2.56       46  

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  

Seix High Grade Municipal Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     12.36       0.26       (0.23 )      0.03       (0.26 )      —       (0.45 )      (0.71 )      11.68       78,729       0.33       0.65       0.71       2.12       218  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

132

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, 2017

     $12.36       $0.24       $(0.22 )      $0.02       $(0.24 )      $—       $(0.45 )      $(0.69 )      $11.69       $12,276       0.27 %      0.80 %      0.80 %      1.99 %      218 % 

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  

Seix High Income Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     5.92       0.39       0.54       0.93       (0.39 )      —       —       (0.39 )      6.46       456,928       15.95       0.80       0.81       6.15       95  

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  

A Shares

                              

Year Ended March 31, 2017

     5.92       0.38       0.53       0.91       (0.37 )      —       —       (0.37 )      6.46       63,104       15.69       1.04       1.04       5.92       95  

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  

R Shares

                              

Year Ended March 31, 2017

     5.92       0.36       0.54       0.90       (0.36 )      —       —       (0.36 )      6.46       14,699       15.47       1.22       1.22       5.73       95  

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  

IS Shares

                              

Year Ended March 31, 2017

     5.92       0.40       0.53       0.93       (0.40 )      —       —       (0.40 )      6.45       4,125       15.96       0.64       0.64       6.26       95  

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, 2017

     7.80       0.46       0.57       1.03       (0.46 )      —       —       (0.46 )      8.37       483,080       13.48       0.64       0.64       5.65       87  

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  

A Shares

                              

Year Ended March 31, 2017

     7.61       0.44       0.55       0.99       (0.44 )      —       —       (0.44 )      8.16       6,214       13.20       0.82       0.82       5.51       87  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

133

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)		  

R Shares

                              

Year Ended March 31, 2017

     $7.80       $0.43       $0.56       $0.99       $(0.43 )      $—       $—       $(0.43 )      $8.36       $130       12.90 %      1.04 %      1.04 %      5.32 %      87 % 

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  

IS Shares

                              

Period Ended March 31, 2017(i)

     8.17       0.33       0.18       0.51       (0.31 )      —       —       (0.31 )      8.37       42,695       6.34 (g)      0.54       0.54       5.86       87  

Seix Investment Grade Tax-Exempt Bond Fund

 

I Shares

 

Year Ended March 31, 2017

     12.22       0.28       (0.31 )      (0.03 )      (0.28 )      —       (0.27 )      (0.55 )      11.64       519,784       (0.24 )      0.65       0.70       2.30       138  

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  

A Shares

                              

Year Ended March 31, 2017

     12.24       0.26       (0.32 )      (0.06 )      (0.26 )      —       (0.27 )      (0.53 )      11.65       20,281       (0.48 )      0.80       0.92       2.16       138  

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  

Seix Limited Duration Fund

 

I Shares

 

Year Ended March 31, 2017

     9.83       0.07       0.01       0.08       (0.06 )      —       —       (0.06 )      9.85       6,661       0.86       0.34 (k)      0.46 (k)      0.68       89  

Year Ended March 31, 2016

     9.83       0.03       — (j)      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       — (j)      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  

Seix North Carolina Tax-Exempt Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     10.53       0.23       (0.29 )      (0.06 )      (0.23 )      —       (0.22 )      (0.45 )      10.02       21,813       (0.53 )      0.65       0.74       2.22       61  

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  

A Shares

                              

Year Ended March 31, 2017

     10.50       0.21       (0.28 )      (0.07 )      (0.21 )      —       (0.22 )      (0.43 )      10.00       2,170       (0.59 )      0.80       0.82       2.02       61  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

134

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 Short-Term Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     $9.98       $0.08       $(0.06 )      $0.02       $(0.08 )      $—       $—       $(0.08 )      $9.92       $52,024       0.23 %      0.60 %      0.69 %      0.77 %      129 % 

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  

A Shares

                              

Year Ended March 31, 2017

     10.01       0.06       (0.06 )      —       (0.06 )      —       —       (0.06 )      9.95       2,308       0.03       0.80       0.80       0.58       129  

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  

C Shares

                              

Year Ended March 31, 2017

     10.00       — (j)      (0.06 )      (0.06 )      —       —       —       —       9.94       1,310       (0.57 )(g)      1.40       1.57       (0.03 )      129  

Year Ended March 31, 2016

     10.00       (0.01 )      0.01       —       — (j)      —       —       — (j)      10.00       1,742       —       1.29       1.58       (0.10 )      87  

Year Ended March 31, 2015

     9.97       (0.01 )      0.04       0.03       — (j)      —       —       — (j)      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  

Seix Short-Term Municipal Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     9.98       0.08       (0.04 )      0.04       (0.08 )      —       (0.01 )      (0.09 )      9.93       26,710       0.40       0.48       0.66       0.75       59  

Year Ended March 31, 2016

     10.00       0.04       — (j)      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  

A Shares

                              

Year Ended March 31, 2017

     9.98       0.05       (0.03 )      0.02       (0.06 )      —       (0.01 )      (0.07 )      9.93       1,810       0.26       0.65       0.74       0.54       59  

Year Ended March 31, 2016

     10.00       0.02       — (j)      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  

Seix Total Return Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     10.67       0.22       (0.07 )      0.15       (0.23 )      —       (0.17 )      (0.40 )      10.42       790,997       1.44 (g)      0.46       0.46       2.10       210  

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  

A Shares

                              

Year Ended March 31, 2017

     11.02       0.20       (0.06 )      0.14       (0.22 )      —       (0.17 )      (0.39 )      10.77       27,284       1.22       0.70       0.70       1.85       210  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

135

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)		  

R Shares

                              

Year Ended March 31, 2017

     $10.67       $0.16       $(0.07 )      $0.09       $(0.17 )      $—       $(0.17 )      $(0.34 )      $10.42       $39,541       0.83 %      1.06 %      1.06 %      1.48 %      210 % 

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  

IS Shares

                              

Year Ended March 31, 2017

     10.67       0.25       (0.08 )      0.17       (0.25 )      —       (0.17 )      (0.42 )      10.42       101,022       1.58       0.31       0.31       2.40       210  

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  

Seix U.S. Government Securities Ultra-Short Bond Fund

 

                        

I Shares

                              

Year Ended March 31, 2017

     10.03       0.07       0.03       0.10       (0.10 )      —       —       (0.10 )      10.03       1,367,242       0.98       0.42       0.42       0.72       77  

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  

IS Shares(i)

                              

Period Ended March 31, 2017

     10.04       0.08       —       0.08       (0.08 )      —       —       (0.08 )      10.04       32,657       0.77 (g)      0.26       0.26       1.12       77  

Seix U.S. Mortgage Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     11.33       0.07       (0.04 )      0.03       (0.20 )      —       (0.04 )      (0.24 )      11.12       17,620       0.24 (g)      0.70       0.86       0.66       118  

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  

A Shares

                              

Year Ended March 31, 2017

     11.31       0.05       (0.04 )      0.01       (0.18 )      —       (0.04 )      (0.22 )      11.10       3,594       0.04 (g)      0.90       0.98       0.41       118  

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  

C Shares

                              

Year Ended March 31, 2017

     11.33       (0.03 )      (0.06 )      (0.09 )      (0.09 )      —       (0.04 )      (0.13 )      11.11       4,301       (0.79 )(g)      1.65       1.71       (0.26 )      118  

Year Ended March 31, 2016

     11.32       — (j)      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  

Seix Ultra-Short Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     9.93       0.10       0.04       0.14       (0.11 )      —       —       (0.11 )      9.96       87,344       1.41       0.40       0.40       1.05       142  

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       — (j)      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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

136

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 Virginia Intermediate Municipal Bond Fund

 

                          

I Shares

                              

Year Ended March 31, 2017

     $10.06       $0.24       $(0.23 )      $0.01       $(0.24 )      $—       $(0.28 )      $(0.52 )      $9.55       $45,969       0.13 %      0.65 %      0.70 %      2.41 %      49 % 

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  

A Shares

                              

Year Ended March 31, 2017

     10.06       0.23       (0.23 )      —       (0.23 )      —       (0.28 )      (0.51 )      9.55       3,624       (0.01 )      0.79       0.79       2.28       49  

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  

 

See Notes to Financial Highlights and Notes to Financial Statements.

 

137

Table of Contents

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) IS Shares commenced operations on August 1, 2016.

 

(j) Rounds to less than $0.005 per share.

 

(k) Net investment income per share and the ratio of net investment income to average net assets include a non-recurring refund for overbilling of prior years’ custodian out-of-pocket fees which amounted to $0.00 per share and 0.01% of average net assets, respectively.

 

138

Table of Contents

NOTES TO FINANCIAL STATEMENTS

 

RIDGEWORTH FUNDS    March 31, 2017

 

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, Seix Corporate Bond Fund, Seix Floating Rate High Income Fund, Seix Georgia Tax-Exempt Bond Fund, Seix High Grade Municipal Bond Fund, 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, 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, Seix Ultra-Short Bond Fund and Seix 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 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 U.S. Government Securities Ultra-Short Bond Fund offers I Shares and IS Shares. The Seix Core Bond Fund, Seix High Income Fund, Seix High Yield 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”), and 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 (“FASB”) Codification Topic 946 (“ASC 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 — 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.

 

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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 are classified as Level 1 prices, which includes 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 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

 

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RIDGEWORTH FUNDS    March 31, 2017

 

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.

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value as of March 31, 2017:

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		     Total  

Seix Core Bond Fund

           

Assets

           

Asset-Backed Securities1

      $—        $9,405,729        $—       $9,405,729  

Collateralized Mortgage Obligations1

      —        11,843,428        —       11,843,428  

Corporate Bonds1

      —        53,139,885        —       53,139,885  

U.S. Government Agency Mortgages1

      —        48,848,544        —       48,848,544  

U.S. Treasury Obligation1

      —        86,005,621        —       86,005,621  

Money Market Fund

      13,510,206        —        —       13,510,206  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      13,510,206        209,243,207        —       222,753,413  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Corporate Bond Fund

           

Assets

           

Corporate Bonds1

      —        18,190,800        —       18,190,800  

U.S. Treasury Obligation1

      —        1,410,166        —       1,410,166  

Foreign Government Bond

      —        230,671        —       230,671  

Money Market Funds

      2,262,482        —        —       2,262,482  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      2,262,482        19,831,637        —       22,094,119  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Floating Rate High Income Fund

           

Assets

           

Asset-Backed Security1

      —        4,592,235        —       4,592,235  

Bank Loans1

      —        5,445,916,312        —       5,445,916,312  

Corporate Bonds1

      —        218,338,471        44,142,364 4      262,480,835  

Preferred Stock1

      864,620        —        —       864,620  

Rights1

      441,467        —        —       441,467  

Common Stocks1

      11,456,741        11,519,536        —       22,976,277  

Unlisted Call Option Purchased1

      —        —        0 4      0  

Money Market Fund

      730,190,606        —        —       730,190,606  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      742,953,434        5,680,366,554        44,142,364 4      6,467,462,352  
  

 

 

     

 

 

     

 

 

    

 

 

  

Other Financial Instruments3

           

Unfunded Loan Commitments

      —        47,129        —       47,129  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Assets

      742,953,434        5,680,413,683        44,142,364 4      6,467,509,481  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Georgia Tax-Exempt Bond Fund

           

Assets

           

Municipal Bonds2

      —        91,963,772        —       91,963,772  

Money Market Fund

      5,181,314        —        —       5,181,314  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      5,181,314        91,963,772        —       97,145,086  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix High Grade Municipal Bond Fund

           

Assets

           

Municipal Bonds2

      —        83,369,166        —       83,369,166  

Money Market Fund

      10,321,638        —        —       10,321,638  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      10,321,638        83,369,166        —       93,690,804  
  

 

 

     

 

 

     

 

 

    

 

 

  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

     Level 1 -
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		     Total  

Seix High Income Fund

           

Assets

           

Bank Loans1

      $—        $13,937,083        $—       $13,937,083  

Corporate Bonds1

      —        490,710,974        0 4      490,710,974  

Convertible Preferred Stock1

      641,738        —        —       641,738  

Preferred Stock1

      1,088,658        —        —       1,088,658  

Warrants1

      —        6,679        —       6,679  

Common Stocks1

      7,181,319        1,176,019        —       8,357,338  

Money Market Funds

      50,923,932        —        —       50,923,932  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      59,835,647        505,830,755        0 4      565,666,402  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix High Yield Fund

           

Assets

           

Bank Loans1

      —        13,647,594        —       13,647,594  

Corporate Bonds1

      —        472,265,047        —       472,265,047  

Common Stocks1

      226,976        988,652        —       1,215,628  

Money Market Funds

      66,680,228        —        —       66,680,228  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      66,907,204        486,901,293        —       553,808,497  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Investment Grade Tax-Exempt Bond Fund

           

Assets

           

Municipal Bonds2

      —        488,524,123        —       488,524,123  

Money Market Fund

      52,943,786        —        —       52,943,786  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      52,943,786        488,524,123        —       541,467,909  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Limited Duration Fund

           

Assets

           

Asset-Backed Securities1

      —        628,085        —       628,085  

Collateralized Mortgage Obligations1

      —        4,733,630        —       4,733,630  

U.S. Government Agency Mortgages1

      —        1,332,201        —       1,332,201  

Money Market Fund

      19,970        —        —       19,970  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      19,970        6,693,916        —       6,713,886  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix North Carolina Tax-Exempt Bond Fund

           

Assets

           

Municipal Bonds2

      —        23,565,483        —       23,565,483  

Money Market Fund

      2,642,353        —        —       2,642,353  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      2,642,353        23,565,483        —       26,207,836  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Short-Term Bond Fund

           

Assets

           

Asset-Backed Securities1

      —        6,948,769        —       6,948,769  

Collateralized Mortgage Obligations1

      —        3,352,050        —       3,352,050  

Corporate Bonds1

      —        16,804,951        —       16,804,951  

U.S. Government Agency Mortgages1

      —        3,426,851        —       3,426,851  

U.S. Treasury Obligations1

      —        24,518,131        —       24,518,131  

Money Market Fund

      254,053        —        —       254,053  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      254,053        55,050,752        —       55,304,805  
  

 

 

     

 

 

     

 

 

    

 

 

  

Seix Short-Term Municipal Bond Fund

           

Assets

           

Municipal Bonds2

      —        27,465,841        —       27,465,841  

Money Market Fund

      1,647,224        —        —       1,647,224  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Investments

      1,647,224        27,465,841        —       29,113,065  
  

 

 

     

 

 

     

 

 

    

 

 

  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

     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

      $—       $39,809,471       $—        $39,809,471  

Collateralized Mortgage Obligations1

      —       47,417,313       —        47,417,313  

Corporate Bonds1

      —       229,284,881       —        229,284,881  

U.S. Government Agency Mortgages1

      —       215,425,971       —        215,425,971  

U.S. Treasury Obligations1

      —       364,078,267       —        364,078,267  

Foreign Government Bonds

      —       51,628,784       —        51,628,784  

Money Market Funds

      35,113,866       —       —        35,113,866  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      35,113,866       947,644,687       —        982,758,553  
  

 

 

    

 

 

    

 

 

     

 

 

  

Other Financial Instruments3

          

Credit Default Swap Contracts

      —       13,249       —        13,249  

Forward Foreign Currency Contracts

      —       405,785       —        405,785  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Assets

      35,113,866       948,063,721       —        983,177,587  
  

 

 

    

 

 

    

 

 

     

 

 

  

Liabilities

          

Forward Foreign Currency Contracts

      —       (1,152,566 )      —        (1,152,566 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Liabilities

      —       (1,152,566 )      —        (1,152,566 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Seix U.S. Government Securities Ultra-Short Bond Fund

          

Assets

          

Asset-Backed Security1

      —       15,564,795       —        15,564,795  

Collateralized Mortgage Obligations1

      —       744,927,882       —        744,927,882  

U.S. Government Agencies1

      —       24,278,326       —        24,278,326  

U.S. Government Agency Mortgages1

      —       585,731,097       —        585,731,097  

U.S. Treasury Obligation1

      —       400,094       —        400,094  

Money Market Fund

      27,461,735       —       —        27,461,735  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      27,461,735       1,370,902,194       —        1,398,363,929  
  

 

 

    

 

 

    

 

 

     

 

 

  

Other Financial Instruments3

          

Liabilities

          

Futures Contracts

      (88,607 )      —       —        (88,607 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Liabilities

      (88,607 )      —       —        (88,607 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Seix U.S. Mortgage Fund

          

Assets

          

Collateralized Mortgage Obligations1

      —       1,615,955       —        1,615,955  

U.S. Government Agency Mortgages1

      —       22,787,328       —        22,787,328  

Money Market Fund

      962,950       —       —        962,950  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      962,950       24,403,283       —        25,366,233  
  

 

 

    

 

 

    

 

 

     

 

 

  

Seix Ultra-Short Bond Fund

          

Assets

          

Asset-Backed Securities1

      —       16,212,861       —        16,212,861  

Collateralized Mortgage Obligations1

      —       12,449,839       —        12,449,839  

Corporate Bonds1

      —       41,779,286       —        41,779,286  

U.S. Government Agency Mortgages1

      —       14,462,221       —        14,462,221  

U.S. Treasury Obligation1

      —       100,024       —        100,024  

Money Market Fund

      2,272,691       —       —        2,272,691  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments

      2,272,691       85,004,231       —        87,276,922  
  

 

 

    

 

 

    

 

 

     

 

 

  

Other Financial Instruments3

          

Liabilities

          

Futures Contracts

      (13,040 )      —       —        (13,040 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Liabilities

      (13,040 )      —       —        (13,040 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

     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

      $—        $48,295,944        $—        $48,295,944  

Money Market Fund

      2,388,399        —        —        2,388,399  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

      2,388,399        48,295,944        —        50,684,343  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

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 and futures, which are shown at the unrealized appreciation (depreciation) on the instrument.

 

4  As of March 31, 2017, 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, 2017. The Level 3 securities comprised 0.9% of net assets of Seix Floating Rate High Income Fund and 0.0% of net assets of Seix High Income Fund.

The following is a reconciliation of investments as of March 31, 2017 in which significant unobservable inputs (Level 3) were used in determining fair value:

 

    Balance
as of
3/31/2016		     Accrued
Discounts		     Realized
Gain		     Change in
Unrealized
Appreciation		     Purchases     Sales     Transfers
into
Level 3		     Transfers
out of
Level 3		     Balance
as of
3/31/2017		     Net Change
in Unrealized
Appreciation
from
Investments
Still Held
as of
3/31/2017		  

Seix Floating Rate High Income Fund

                    

Corporate Bonds Oil & Gas

     $24,497,837       $14,311       $14,147       $6,758,750       $18,569,002       $(5,711,683)       $—       $—       $44,142,364       $6,758,750  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

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, 2017, there were no transfers between Level 1 and Level 2 pursuant to the Pricing and Valuation Procedures.

(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.

(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

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

(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, 2017 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.

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

 

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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 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

 

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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 March 31, 2017, the Seix Total Return Bond Fund had 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 the 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, 2017, 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, 2017, are presented in the table below:

 

     Credit
Risk		     Foreign
Exchange
Risk		     Interest
Rate
Risk		      Total  
Seix Total Return Bond Fund          

Asset Derivatives

          

Swap Contracts*

    $ 13,249     $ —     $ —      $ 13,249  

Forward Contracts*

      —       405,785       —        405,785  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Value

    $ 13,249     $ 405,785     $ —      $ 419,034  
  

 

 

    

 

 

    

 

 

     

 

 

  

Liability Derivatives

          

Forward Contracts^

    $ —     $ (1,152,566 )    $ —      $ (1,152,566 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Value

    $ —     $ (1,152,566 )    $ —      $ (1,152,566 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Realized Gain (Loss)#

          

Swap Contracts

    $ (6,196,962 )    $ —     $      $ (6,196,962 ) 

Forward Contracts

      —       852,628       —        852,628  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Realized Gain (Loss)

    $ (6,196,962 )    $ 852,628     $ —      $ (5,344,334 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Change in Unrealized Appreciation (Depreciation)##

          

Swap Contracts

    $ 13,249     $ —     $      $ 13,249  

Forward Contracts

      —       52,694       —        52,694  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Change in Appreciation (Depreciation)

    $ 13,249     $ 52,694     $ —      $ 65,943  
  

 

 

    

 

 

    

 

 

     

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

          

Swap Contracts

      73,500,000       —       —        73,500,000  

Forward Currency Contracts

      —       167,825,705       —        167,825,705  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

     Credit
Risk		      Foreign
Exchange
Risk		      Interest
Rate
Risk		     Total  
Seix U.S. Government Securities Ultra-Short Bond Fund           

Liability Derivatives

           

Futures Contracts^

    $ —      $ —      $ (88,607 )    $ (88,607 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Value

    $ —      $ —      $ (88,607 )    $ (88,607 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Realized Gain (Loss)#

           

Futures Contracts

    $ —      $ —      $ 1,242,812     $ 1,242,812  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Realized Gain (Loss)

    $ —      $ —      $ 1,242,812     $ 1,242,812  
  

 

 

     

 

 

     

 

 

    

 

 

  

Change in Unrealized Appreciation (Depreciation)##

           

Futures Contracts

    $ —      $ —      $ (42,548 )    $ (42,548 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Change in Appreciation (Depreciation)

    $ —      $ —      $ (42,548 )    $ (42,548 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

           

Futures Short Contracts

      —        —        (622 )      (622 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  
Seix Ultra-Short Bond Fund           

Liability Derivatives

           

Futures Contracts^

    $ —      $ —      $ (13,040 )    $ (13,040 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Value

    $ —      $ —      $ (13,040 )    $ (13,040 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Realized Gain (Loss)#

           

Futures Contracts

    $ —      $ —      $ 95,342     $ 95,342  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Realized Gain (Loss)

    $ —      $ —      $ 95,342     $ 95,342  
  

 

 

     

 

 

     

 

 

    

 

 

  

Change in Unrealized Appreciation (Depreciation)##

           

Futures Contracts

    $ —      $ —      $ (4,671 )    $ (4,671 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Change in Appreciation (Depreciation)

    $ —      $ —      $ (4,671 )    $ (4,671 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Average Number of Contracts, Notional Amounts or Shares+

           

Futures Short Contracts

      —        —        (106 )      (106 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

 

* Statements of Assets and Liabilities location: Unrealized Appreciation on Swap Contracts and 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: Unrealized Depreciation on Swap Contracts and 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 and centrally cleared swaps 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, 2017.

The following table summarizes any OTC derivatives at March 31, 2017 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

 

Credit Suisse International

      $768,092        $—        $(525,000 )      $243,092  

Credit Suisse International

      405,785        —        (405,785 )      —  
  

 

 

     

 

 

     

 

 

    

 

 

  
     $1,173,877        $—        $(930,785 )      $243,092  
  

 

 

     

 

 

     

 

 

    

 

 

  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

     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		  

Liabilities

           

JPMorgan

    $ 1,000,822      $ —        $(1,000,822 )    $ —  

Credit Suisse International

      151,744        —        —       151,744  
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 1,152,566      $ —        $(1,000,822 )    $ 151,744  
  

 

 

     

 

 

     

 

 

    

 

 

  

 

(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 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. 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 which is reflected on the Statements of Operations as a component of the caption “Net Income from Securities Lending”.

For 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, 2017:

Seix Corporate Bond Fund

 

     Remaining Contractual Maturity of the Agreements
As of March 31, 2017		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

               

Corporate Bonds

      $10,525        $—        $—        $—        $10,525  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

      $10,525        $—        $—        $—        $10,525  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

 

      $10,525  
              

 

 

  
Seix High Income Fund  
     Remaining Contractual Maturity of the Agreements
As of March 31, 2017		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

 

Common Stocks

      $700        $—        $—        $—        $700  

Corporate Bonds

      47,733,556        —        —        —        47,733,556  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

      $47,734,256        $—        $—        $—        $47,734,256  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

      $47,734,256        $—        $—        $—        $47,734,256  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

 

      $47,734,256  
              

 

 

  

 

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RIDGEWORTH FUNDS    March 31, 2017

 

Seix High Yield Fund  
     Remaining Contractual Maturity of the Agreements
As of March 31, 2017		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

 

Common Stocks

      $249        $—        $—        $—        $249  

Corporate Bonds

      40,822,614        —        —        —        40,822,614  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

      $40,822,863        $—        $—        $—        $40,822,863  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

      $40,822,863        $—        $—        $—        $40,822,863  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

 

      $40,822,863  
              

 

 

  
Seix Total Return Bond Fund  
     Remaining Contractual Maturity of the Agreements
As of March 31, 2017		  
     Overnight and
Continuous		      <30 days      Between
30 & 90 days		      >90 days      Total  

Securities Lending Transactions

 

Corporate Bonds

      $5,199,918        $—        $—        $—        $5,199,918  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Borrowings

      $5,199,918        $—        $—        $—        $5,199,918  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Gross amount of recognized liabilities for securities lending transactions

 

      $5,199,918  
              

 

 

  

(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. 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. Seix Floating Rate High Income Fund had unfunded loan commitments that can be found on the Fund’s Schedule of Portfolio Investments.

(n) Restricted Securities — Certain Funds’ investments are subject to legal or contractual restrictions on resale. Prompt sale of such securities at an acceptable price may be difficult and may involve substantial delays and additional costs. As of March 31, 2017, 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 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.

 

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(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, 2017, 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, as amended (the “Code”), 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, 2017, 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, 2017, open tax years include the tax years of March 31, 2014 through 2017.

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.

(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 Company (“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

 

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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 0.17% 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. As of March 31, 2017, the Funds had no 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 High Income Fund

      $250        $903,032        2.00 %      5  

Seix High Yield Fund

      157        766,629        1.84       4  

Seix Total Return Bond Fund

      521        10,537,033        1.78       1  

Due to and Due from Affiliates — represents payment for proceeds received from a securities litigation settlement.

 

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 the 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, 2017 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       (0.12 )      0.28  

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       0.55       —       0.55  

Seix High Yield Fund

      0.45       0.45       —       0.45  

Seix Investment Grade Tax-Exempt Bond Fund

      0.50       0.50       —       0.50  

Seix Limited Duration Fund

      0.10       0.10       —       0.10  

Seix North Carolina Tax-Exempt Bond Fund

      0.50       0.50       (0.02 )      0.48  

Seix Short-Term Bond Fund

      0.40       0.40       —       0.40  

Seix Short-Term Municipal Bond Fund

      0.35       0.35       (0.09 )      0.26  

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       (0.01 )      0.39  

Seix Ultra-Short Bond Fund

      0.22       0.22       —       0.22  

Seix Virginia Intermediate Municipal Bond Fund

      0.50       0.50       —       0.50  

 

* See additional information below related to contractual expense limitations

 

** Aggregate annual fees paid to the Investment Adviser, who pays the Subadviser a portion of the fees for its services to the Funds.

Amounts designated as “—” are 0%.

 

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The Investment Adviser and the Subadviser have contractually agreed, until at least August 1, 2017, 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  

Fund

    I Shares     A Shares     C Shares     R Shares     IS Shares  

Seix Core Bond Fund*

      0.54 %      0.75 %      N/A %      1.05 %      0.44 % 

Seix Corporate Bond Fund

      0.70       0.95       1.65       N/A       N/A  

Seix Floating Rate High Income Fund*

      0.72       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*

      0.85       1.10       N/A       1.50       0.70  

Seix High Yield Fund*

      0.70       0.90       N/A       1.30       0.64  

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       1.58       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*

      0.54       0.75       N/A       1.15       0.44  

Seix U.S. Government Securities Ultra-Short Bond Fund

      0.46       N/A       N/A       N/A       0.40  

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  

 

* For the period ended July 31, 2016 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 %      0.40 % 

Seix Floating Rate High Income Fund

      0.70       1.00       1.60       N/A       0.60  

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 Short-Term Bond Fund

      0.60       0.80       1.60       N/A       N/A  

Seix Total Return Bond Fund

      0.50       0.75       N/A       1.10       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, 2017, Seix Short-Term Bond Fund C Shares had voluntary reimbursements in the amount of $2,796.

During the fiscal year ended March 31, 2017, the Investment Adviser recaptured prior contractual waivers or reimbursements in the following Funds, Seix Core Bond A Shares, Seix Floating Rate High Income Fund A Shares

 

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and Seix High Grade Municipal Bond Fund A Shares for $42, $122 and $476, respectively. As of March 31, 2017, the cumulative potential recoupments recoverable pursuant to this agreement are as follows:

 

     Expires  

Fund

    2018      2019      2020  

Seix Core Bond Fund

         

I Shares

      $3,506        $—        $—  

Seix Corporate Bond Fund

         

I Shares

      8,964        16,529        25,914  

A Shares

      307        960        1,128  

C Shares

      2,406        12,565        13,860  

Seix Georgia Tax-Exempt Bond Fund

         

I Shares

      —        32,454        47,286  

Seix High Grade Municipal Bond Fund

         

I Shares

      26,689        43,026        49,128  

Seix High Income Fund

         

I Shares

      —        —        20,361  

Seix Investment Grade Tax-Exempt Bond Fund

         

I Shares

      158,784        196,341        265,554  

A Shares

      30,557        34,180        25,888  

Seix Limited Duration Fund

         

I Shares

      8,039        7,733        7,891  

Seix North Carolina Tax-Exempt Bond Fund

         

I Shares

      14,868        27,262        25,589  

A Shares

      —        60        439  

Seix Short-Term Bond Fund

         

I Shares

      31,243        38,183        45,098  

A Shares

      117        199        155  

Seix Short-Term Municipal Bond Fund

         

I Shares

      26,182        44,128        53,428  

A Shares

      2,225        2,517        3,664  

Seix Total Return Bond Fund

         

R Shares

      5,518        2,074        —  

Seix U.S. Mortgage Fund

         

I Shares

      20,029        26,390        35,498  

A Shares

      16,585        11,553        5,181  

C Shares

      21,560        6,916        3,093  

Seix Virginia Intermediate Municipal Bond Fund

         

I Shares

      —        28,628        32,565  

Amounts designated as “—” are $0.

Fund Accounting, Custody, Administration, and Transfer Agency — 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’ net asset values. 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 RidgeWorth investment company complex and fees 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.

 

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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, 2017, the Distributor did not retain any of the front end sales charges assessed on the sale of A shares. For the fiscal year ended March 31, 2017, the Distributor did not retain any commissions from contingent deferred sales charges assessed on redemptions of C Shares. These current board approved fees, expressed as a percentage of average daily net assets, for the fiscal year ended March 31, 2017, were as follows:

 

Fund

    A Shares
Distribution
and Service
Fee		     C Shares
Distribution
and Service
Fee		     R Shares
Distribution
and Service
Fee		     IS Shares
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  

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 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 shareholder services fee 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, 2017, the Investment Adviser was paid $404,235 for these services. Foreside Fund Officer Services, LLC (“FFOS”), an affiliate of the Distributor, provides an Anti-Money Laundering Officer/Identity Theft Prevention Officer (“AML Officer”) to the Trust. Effective October 2015 through November 2016, Foreside Management Services, LLC (“FMS”), an affiliate of the Distributor, provided 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.

 

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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, 2017 and March 31, 2016 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

                        

3/31/2017

     3,325,643       —       748,805       (8,707,885 )      —       (4,633,437 )      $36,165,424       $—       $7,980,535       $(94,476,548 )      $—       $(50,330,589 ) 

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  

A Shares

                        

3/31/2017

     159,737       —       28,647       (143,930 )      —       44,454       1,723,682       —       304,935       (1,551,198 )      —       477,419  

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  

R Shares

                        

3/31/2017

     26,806       —       10,058       (58,680 )      —       (21,816 )      293,118       —       107,032       (632,106 )      —       (231,956 ) 

3/31/2016

     63,349       1,392       7,188       (70,497 )      —       1,432       681,606       14,994       77,357       (760,012 )      —       13,945  

IS Shares*

                        

3/31/2017

     122,422       —       3,983       (569 )      —       125,836       1,334,803       —       42,253       (6,228 )      —       1,370,828  

3/31/2016

     2,309       —       30       (277 )      —       2,062       24,783       —       327       (2,994 )      —       22,116  

Seix Corporate Bond Fund

 

I Shares

                        

3/31/2017

     828,065       —       47,093       (469,373 )      —       405,785       7,179,237       —       408,817       (4,091,907 )      —       3,496,147  

3/31/2016

     332,069       —       66,369       (2,042,573 )      —       (1,644,135 )      2,874,849       —       559,900       (17,746,984 )      —       (14,312,235 ) 

A Shares

                        

3/31/2017

     95,015       —       1,515       (87,407 )      —       9,123       843,561       —       13,207       (762,299 )      —       94,469  

3/31/2016

     40,688       —       2,578       (74,224 )      —       (30,958 )      345,153       —       21,778       (637,354 )      —       (270,423 ) 

C Shares

                        

3/31/2017

     12,236       —       25,715       (143,863 )      —       (105,912 )      106,691       —       222,675       (1,245,894 )      —       (916,528 ) 

3/31/2016

     39,199       —       42,617       (161,946 )      —       (80,130 )      328,481       —       355,742       (1,369,368 )      —       (685,145 ) 

Seix Floating Rate High Income Fund

 

I Shares

                        

3/31/2017

     289,063,783       —       15,590,389       (160,236,917 )      —       144,417,255       2,509,599,371       —       134,820,422       (1,379,328,214 )      —       1,265,091,579  

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 ) 

A Shares

                        

3/31/2017

     7,679,974       —       705,138       (10,072,473 )      —       (1,687,361 )      66,616,768       —       6,095,203       (87,424,923 )      —       (14,712,952 ) 

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  

C Shares

                        

3/31/2017

     1,369,748       —       203,486       (1,690,147 )      —       (116,913 )      11,881,102       —       1,758,616       (14,592,374 )      —       (952,656 ) 

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 ) 

IS Shares

                        

3/31/2017

     84,999,452       —       3,072,382       (74,014,403 )      —       14,057,431       737,726,687       —       26,612,949       (639,566,949 )      —       124,772,687  

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  

Seix Georgia Tax-Exempt Bond Fund

 

I Shares

                        

3/31/2017

     1,618,914       —       382,035       (3,067,993 )      —       (1,067,044 )      17,390,581       —       4,084,735       (32,726,917 )      —       (11,251,601 ) 

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 ) 

A Shares

                        

3/31/2017

     13,518       —       12,875       (22,413 )      —       3,980       147,460       —       137,721       (241,155 )      —       44,026  

3/31/2016

     17,533       —       7,749       (29,719 )      —       (4,437 )      191,368       —       83,945       (320,008 )      —       (44,695 ) 

Seix High Grade Municipal Bond Fund

 

I Shares

                        

3/31/2017

     2,706,709       —       354,720       (4,398,678 )      —       (1,337,249 )      32,497,259       —       4,178,501       (52,780,991 )      —       (16,105,231 ) 

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  

A Shares

                        

3/31/2017

     203,351       —       57,190       (342,288 )      —       (81,747 )      2,544,525       —       672,539       (4,168,123 )      —       (951,059 ) 

3/31/2016

     191,190       —       30,996       (432,490 )      —       (210,304 )      2,332,202       —       378,352       (5,267,431 )      —       (2,556,877 ) 

 

156

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

    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 Income Fund

 

I Shares

                        

3/31/2017

     36,931,887       —       4,836,232       (63,395,994 )      —       (21,627,875 )      $233,696,176       $—       $30,649,854       $(399,905,306 )      $—       $(135,559,276 ) 

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 ) 

A Shares

                        

3/31/2017

     9,701,530       —       444,005       (7,716,420 )      —       2,429,115       61,422,502       —       2,825,115       (48,627,457 )      —       15,620,160  

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 ) 

R Shares

                        

3/31/2017

     422,206       —       129,488       (737,999 )      —       (186,305 )      2,687,223       —       821,537       (4,667,884 )      —       (1,159,124 ) 

3/31/2016

     359,333       —       161,075       (1,187,358 )      —       (666,950 )      2,219,409       —       997,383       (7,386,173 )      —       (4,169,381 ) 

IS Shares

                        

3/31/2017

     3,829,041       —       157,157       (3,535,834 )      —       450,364       23,657,410       —       996,736       (22,677,006 )      —       1,977,140  

3/31/2016

     679,195       —       42,294       (1,050,372 )      —       (328,883 )      4,520,923       —       267,858       (6,288,539 )      —       (1,499,758 ) 

Seix High Yield Fund

 

I Shares

                        

3/31/2017

     26,284,862       —       2,743,807       (38,318,802 )      —       (9,290,133 )      215,421,169       —       22,583,441       (314,503,252 )      —       (76,498,642 ) 

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 ) 

A Shares

                        

3/31/2017

     584,118       —       35,550       (838,715 )      —       (219,047 )      4,707,293       —       284,743       (6,678,722 )      —       (1,686,686 ) 

3/31/2016

     1,826,899       —       49,068       (1,848,225 )      —       27,742       14,701,000       —       392,138       (14,843,739 )      —       249,399  

R Shares

                        

3/31/2017

     —       —       1,764       (59,605 )      —       (57,841 )      —       —       14,424       (484,312 )      —       (469,888 ) 

3/31/2016

     2,247       —       4,222       (22,713 )      —       (16,244 )      18,090       —       34,524       (193,271 )      —       (140,657 ) 

IS Shares†

                        

3/31/2017

     5,140,957       —       77,737       (117,595 )      —       5,101,099       42,159,384       —       648,902       (971,089 )      —       41,837,197  

Seix Investment Grade Tax-Exempt Bond Fund

 

I Shares

                        

3/31/2017

     16,053,018       —       2,015,150       (24,907,133 )      —       (6,838,965 )      191,642,052       —       23,780,536       (295,165,686 )      —       (79,743,098 ) 

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 ) 

A Shares

                        

3/31/2017

     90,352       —       69,969       (451,478 )      —       (291,157 )      1,088,691       —       826,011       (5,429,330 )      —       (3,514,628 ) 

3/31/2016

     270,002       —       61,646       (692,731 )      —       (361,083 )      3,278,639       —       748,831       (8,422,052 )      —       (4,394,582 ) 

Seix Limited Duration Fund

 

I Shares

                        

3/31/2017

     —       —       —       —       —       —       —       —       —       —       —       —  

3/31/2016

     1       —       —       (1 )      —       —       10       —       —       (10 )      —       —  

Seix North Carolina Tax-Exempt Bond Fund

 

I Shares

                        

3/31/2017

     732,240       —       113,615       (1,384,250 )      —       (538,395 )      7,453,872       —       1,155,981       (14,089,116 )      —       (5,479,263 ) 

3/31/2016

     844,230       —       22,593       (1,697,037 )      —       (830,214 )      8,794,686       —       235,955       (17,670,389 )      —       (8,639,748 ) 

A Shares

                        

3/31/2017

     209,039       —       6,712       (45,502 )      —       170,249       2,226,916       —       67,215       (455,365 )      —       1,838,766  

3/31/2016

     3,850       —       1,440       (34,435 )      —       (29,145 )      40,276       —       14,957       (356,431 )      —       (301,198 ) 

Seix Short-Term Bond Fund

 

I Shares

                        

3/31/2017

     1,737,971       —       36,874       (1,515,715 )      —       259,130       17,311,866       —       367,284       (15,114,327 )      —       2,564,823  

3/31/2016

     2,020,005       —       28,202       (2,144,798 )      —       (96,591 )      20,069,817       —       280,754       (21,316,782 )      —       (966,211 ) 

A Shares

                        

3/31/2017

     48,382       —       1,257       (27,871 )      —       21,768       480,970       —       12,550       (278,622 )      —       214,898  

3/31/2016

     39,217       —       1,049       (61,581 )      —       (21,315 )      390,439       —       10,466       (613,864 )      —       (212,959 ) 

C Shares

                        

3/31/2017

     8,622       —       41       (50,987 )      —       (42,324 )      86,473       —       412       (508,602 )      —       (421,717 ) 

3/31/2016

     34,023       —       —       (32,941 )      —       1,082       339,111       —       —       (328,324 )      —       10,787  

Seix Short-Term Municipal Bond Fund

 

I Shares

                        

3/31/2017

     1,181,181       —       11,513       (1,728,223 )      —       (535,529 )      11,749,587       —       114,431       (17,210,099 )      —       (5,346,081 ) 

3/31/2016

     953,169       —       7,278       (1,603,161 )      —       (642,714 )      9,508,130       —       72,544       (16,004,683 )      —       (6,424,009 ) 

A Shares

                        

3/31/2017

     21,045       —       1,750       (577,505 )      —       (554,710 )      210,348       —       17,405       (5,741,822 )      —       (5,514,069 ) 

3/31/2016

     451,219       —       1,966       (102,645 )      —       350,540       4,498,824       —       19,585       (1,023,872 )      —       3,494,537  

Seix Total Return Bond Fund

 

I Shares

                        

3/31/2017

     23,029,081       —       2,937,152       (41,092,729 )      —       (15,126,496 )      245,458,060       —       30,887,683       (438,059,791 )      —       (161,714,048 ) 

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  

A Shares

                        

3/31/2017

     488,978       —       79,906       (972,349 )      —       (403,465 )      5,404,276       —       868,410       (10,768,844 )      —       (4,496,158 ) 

3/31/2016

     462,175       —       55,139       (1,487,568 )      —       (970,254 )      5,047,588       —       601,829       (16,200,651 )      —       (10,551,234 ) 

R Shares

                        

3/31/2017

     683,303       —       135,661       (1,748,621 )      —       (929,657 )      7,285,574       —       1,421,889       (18,550,551 )      —       (9,843,088 ) 

3/31/2016

     795,487       —       77,532       (2,150,252 )      —       (1,277,233 )      8,396,594       —       819,135       (22,713,931 )      —       (13,498,202 ) 

IS Shares

                        

3/31/2017

     5,600,084       —       318,038       (1,484,011 )      —       4,434,111       59,720,229       —       3,323,284       (15,706,582 )      —       47,336,931  

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 ) 

 

157

Table of Contents

NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

    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

                        

3/31/2017

     50,879,485       —       1,292,838       (71,147,689 )      —       (18,975,366 )      510,267,724       —       12,961,891       (713,432,362 )      —       (190,202,747 ) 

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 ) 

IS Shares†

                        

3/31/2017

     4,058,772       —       7,089       (813,600 )      —       3,252,261       40,750,039       —       71,132       (8,167,887 )      —       32,653,284  

Seix U.S. Mortgage Fund

 

I Shares

                        

3/31/2017

     308,551       —       39,939       (975,212 )      —       (626,722 )      3,480,238       —       448,970       (10,974,567 )      —       (7,045,359 ) 

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  

A Shares

                        

3/31/2017

     111,205       —       10,790       (377,961 )      —       (255,966 )      1,251,909       —       120,989       (4,187,274 )      —       (2,814,376 ) 

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  

C Shares

                        

3/31/2017

     5,572       —       4,925       (106,957 )      —       (96,460 )      63,098       —       55,159       (1,205,681 )      —       (1,087,424 ) 

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  

Seix Ultra-Short Bond Fund

 

I Shares

                        

3/31/2017

     8,013,031       —       97,010       (9,911,265 )      —       (1,801,224 )      79,739,417       —       965,526       (98,619,424 )      —       (17,914,481 ) 

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 ) 

Seix Virginia Intermediate Municipal Bond Fund

 

I Shares

                        

3/31/2017

     1,487,647       —       106,417       (3,205,848 )      —       (1,611,784 )      14,610,297       —       1,023,765       (31,086,428 )      —       (15,452,366 ) 

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 ) 

A Shares

                        

3/31/2017

     38,738       —       19,353       (112,443 )      —       (54,352 )      382,686       —       187,007       (1,101,491 )      —       (531,798 ) 

3/31/2016

     15,992       —       20,643       (106,197 )      —       (69,562 )      161,455       —       206,765       (1,074,473 )      —       (706,253 ) 

 

* IS Shares commenced operations on August 3, 2015 for Seix Core Bond Fund and August 1, 2016 for Seix High Yield Fund and Seix U.S. Government Securities Ultra-Short Bond 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, 2017, were as follows:

 

Fund

    Purchases      Sales and
Maturities		  

Seix Core Bond Fund

      $94,292,258        $118,388,194  

Seix Corporate Bond Fund

      27,207,951        26,821,992  

Seix Floating Rate High Income Fund

      4,817,936,987        3,611,174,371  

Seix Georgia Tax-Exempt Bond Fund

      48,878,470        61,482,043  

Seix High Grade Municipal Bond Fund

      200,229,204        210,354,600  

Seix High Income Fund

      533,886,441        641,308,158  

Seix High Yield Fund

      452,815,796        491,147,103  

Seix Investment Grade Tax-Exempt Bond Fund

      786,376,729        851,906,978  

Seix Limited Duration Fund

      5,872,795        5,835,586  

Seix North Carolina Tax-Exempt Bond Fund

      16,808,193        19,984,738  

Seix Short-Term Bond Fund

      16,635,655        19,132,336  

Seix Short-Term Municipal Bond Fund

      19,006,524        27,418,781  

Seix Total Return Bond Fund

      461,743,655        498,882,269  

Seix U.S. Government Securities Ultra-Short Bond Fund

      716,911,902        553,441,627  

Seix U.S. Mortgage Fund

      4,152,333        4,204,337  

Seix Ultra-Short Bond Fund

      114,923,461        133,591,767  

Seix Virginia Intermediate Municipal Bond Fund

      30,048,325        45,224,449  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

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, 2017, were as follows:

 

Fund

    Purchases—U.S.
Government
Securities		      Sales—U.S.
Government
Securities		  

Seix Core Bond Fund

      $374,120,385        $365,794,443  

Seix Corporate Bond Fund

      8,314,394        6,915,506  

Seix Limited Duration Fund

      294,770        1,350  

Seix Short-Term Bond Fund

      54,435,107        49,795,733  

Seix Total Return Bond Fund

      1,506,272,212        1,491,535,783  

Seix U.S. Government Securities Ultra-Short Bond Fund

      407,648,250        668,424,292  

Seix U.S. Mortgage Fund

      34,011,809        45,118,821  

Seix Ultra-Short Bond Fund

      16,577,545        14,846,092  

 

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, 2017 were as follows:

 

     Paid-in
Capital		     Accumulated
Net Realized
Gain (Loss)		     Undistributed
Investment
Income (Loss)		  

Seix Core Bond Fund

      $—       $(753,882 )      $753,882  

Seix Floating Rate High Income Fund

      (25,038,485 )      32,008,954       (6,970,469 ) 

Seix Georgia Tax-Exempt Bond Fund

      —       63       (63 ) 

Seix High Grade Municipal Bond Fund

      —       63       (63 ) 

Seix High Income Fund

      —       226,651       (226,651 ) 

Seix Investment Grade Tax-Exempt Bond Fund

      —       665       (665 ) 

Seix Limited Duration Fund

      —       2,086       (2,086 ) 

Seix North Carolina Tax-Exempt Bond Fund

      (11,042 )      49       10,993  

Seix Short-Term Bond Fund

      —       (32,253 )      32,253  

Seix Short-Term Municipal Bond Fund

      —       2       (2 ) 

Seix Total Return Bond Fund

      —       (1,231,838 )      1,231,838  

Seix U.S. Government Securities Ultra-Short Bond Fund

      —       (3,790,359 )      3,790,359  

Seix U.S. Mortgage Fund

      —       (371,768 )      371,768  

Seix Ultra-Short Bond Fund

      (202,726 )      147,306       55,420  

Seix Virginia Intermediate Municipal Bond Fund

      —       182       (182 ) 

The cost of investments and aggregate gross unrealized appreciation and depreciation for securities held by the Funds as of March 31, 2017 were as follows:

 

Fund

    Tax Cost      Aggregate
Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net Unrealized
Appreciation
(Depreciation)		  

Seix Core Bond Fund

      $222,027,434        $1,968,697        $(1,242,718 )      $725,979  

Seix Corporate Bond Fund

      21,938,216        310,227        (154,324 )      155,903  

Seix Floating Rate High Income Fund

      6,514,541,926        58,518,417        (105,597,991 )      (47,079,574 ) 

Seix Georgia Tax-Exempt Bond Fund

      94,459,614        3,387,758        (702,286 )      2,685,472  

Seix High Grade Municipal Bond Fund

      91,619,943        2,514,297        (443,436 )      2,070,861  

Seix High Income Fund

      557,862,262        22,174,113        (14,369,973 )      7,804,140  

Seix High Yield Fund

      545,217,582        17,043,866        (8,452,951 )      8,590,915  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

Fund

    Tax Cost      Aggregate
Gross
Unrealized
Appreciation		      Aggregate
Gross
Unrealized
(Depreciation)		     Net Unrealized
Appreciation
(Depreciation)		  

Seix Investment Grade Tax-Exempt Bond Fund

      $526,219,925        $17,652,617        $(2,404,633 )      $15,247,984  

Seix Limited Duration Fund

      6,701,343        13,895        (1,352 )      12,543  

Seix North Carolina Tax-Exempt Bond Fund

      25,537,797        784,944        (114,905 )      670,039  

Seix Short-Term Bond Fund

      55,411,925        74,147        (181,267 )      (107,120 ) 

Seix Short-Term Municipal Bond Fund

      29,082,953        80,250        (50,138 )      30,112  

Seix Total Return Bond Fund

      977,630,532        11,725,556        (6,597,535 )      5,128,021  

Seix U.S. Government Securities Ultra-Short Bond Fund

      1,392,665,197        6,900,072        (1,201,340 )      5,698,732  

Seix U.S. Mortgage Fund

      25,430,021        129,311        (193,099 )      (63,788 ) 

Seix Ultra-Short Bond Fund

      87,125,193        190,347        (38,618 )      151,729  

Seix Virginia Intermediate Municipal Bond Fund

      49,113,282        1,830,174        (259,113 )      1,571,061  

The tax character of distributions paid to shareholders during the fiscal year ended March 31, 2017 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

      $7,693,563        $1,388,513        $—        $—        $9,082,076  

Seix Corporate Bond Fund

      594,391        75,686        —        —        670,077  

Seix Floating Rate High Income Fund

      223,778,063        —        —        —        223,778,063  

Seix Georgia Tax-Exempt Bond Fund

      73,892        1,343,503        2,882,065        —        4,299,460  

Seix High Grade Municipal Bond Fund

      2,782,913        826,599        2,237,364        —        5,846,876  

Seix High Income Fund

      36,270,142        —        —        —        36,270,142  

Seix High Yield Fund

      31,049,709        —        —        —        31,049,709  

Seix Investment Grade Tax-Exempt Bond Fund

      10,667,287        2,775,085        14,256,352        —        27,698,724  

Seix Limited Duration Fund

      43,695        —        —        —        43,695  

Seix North Carolina Tax-Exempt Bond Fund

      17,488        639,791        644,274        —        1,301,553  

Seix Short-Term Bond Fund

      431,726        —        —        —        431,726  

Seix Short-Term Municipal Bond Fund

      41,363        —        244,354        —        285,717  

Seix Total Return Bond Fund

      31,311,800        5,766,584        —        —        37,078,384  

Seix U.S. Government Securities Ultra-Short Bond Fund

      14,625,825        —        —        —        14,625,825  

Seix U.S. Mortgage Fund

      532,110        101,819        —        —        633,929  

Seix Ultra-Short Bond Fund

      1,125,578        —        —        —        1,125,578  

Seix Virginia Intermediate Municipal Bond Fund

      630,990        1,148,111        1,538,298        —        3,317,399  

 

* 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, 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  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

     Distributions paid from                       

Fund

    Net
Investment
Income*		      Net Long
Term Capital
Gains		      Tax-Exempt
Distributions**		      Return
of
Capital		      Total
Distributions
Paid		  

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 or have been rounded to $0.

As of March 31, 2017 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

      $—        $75,681        $—        $725,979       $(2,844,585 )      $(2,042,925 ) 

Seix Corporate Bond Fund

      —        14,998        —        155,902       (1 )      170,899  

Seix Floating Rate High Income Fund

      —        22,677,700        —        (47,032,445 )      (261,718,156 )      (286,072,901 ) 

Seix Georgia Tax-Exempt Bond Fund

      407,917        —        486,269        2,685,472       (295,605 )      3,284,053  

Seix High Grade Municipal Bond Fund

      164,948        —        —        2,070,861       (1,074,987 )      1,160,822  

Seix High Income Fund

      —        2,559,612        —        7,804,142       (87,479,424 )      (77,115,670 ) 

Seix High Yield Fund

      —        1,278,707        —        8,590,921       (64,238,599 )      (54,368,971 ) 

Seix Investment Grade Tax-Exempt Bond Fund

      907,096        —        —        15,247,984       (6,547,656 )      9,607,424  

Seix Limited Duration Fund

      —        4,546        —        12,543       (816,664 )      (799,575 ) 

Seix North Carolina Tax-Exempt Bond Fund

      —        —        —        670,039       (168,143 )      501,896  

Seix Short-Term Bond Fund

      —        55,475        —        (107,120 )      (1,191,316 )      (1,242,961 ) 

Seix Short-Term Municipal Bond Fund

      16,128        —        —        30,113       (9,268 )      36,973  

Seix Total Return Bond Fund

      —        2,599,659        —        5,161,508       (14,587,166 )      (6,825,999 ) 

Seix U.S. Government

Securities Ultra-Short Bond Fund

      —        1,261,245        —        5,698,734       (15,182,917 )      (8,222,938 ) 

Seix U.S. Mortgage Fund

      —        25,964        —        (63,788 )      (108,994 )      (146,818 ) 

Seix Ultra-Short Bond Fund

      —        106,115        —        151,728       (1,965,174 )      (1,707,331 ) 

Seix Virginia Intermediate Municipal Bond Fund

      121,265        —        477,743        1,571,061       (472,345 )      1,697,724  

 

* 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.

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

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 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, 2017, the post-enactment accumulated short-term and long-term capital loss carryforwards were as follows:

 

Fund

    Short Term      Long Term      Total  

Seix Floating Rate High Income Fund

      $63,944,150        $197,774,006        $261,718,156  

Seix High Income Fund

      21,609,345        65,870,079        87,479,424  

Seix High Yield Fund

      18,548,519        45,690,080        64,238,599  

Seix U.S. Government Securities Ultra-Short Bond Fund

      6,774,433        —        6,774,433  

Seix Ultra-Short Bond Fund

      94,668        56,542        151,210  

Amounts designated as “—” are $0.

As of March 31, 2017, the pre-enactment accumulated capital loss carryforwards and expiration dates were as follows:

 

Fund

    Expiring
2018		      Expiring
2019		      Expiring
2020		      Total  

Seix Limited Duration Fund*

      $816,664        $—        $—        $816,664  

Seix Short-Term Bond Fund

      1,102,167        —        —        1,102,167  

Seix U.S. Government Securities Ultra-Short Bond Fund

      —        8,408,484        —        8,408,484  

Seix Ultra-Short Bond Fund

      1,362,740        451,224        —        1,813,964  

 

* Of the $827,086 of capital loss carryforwards subject to limitations due to an ownership change on June 30, 2013, $10,422 was utilized, and the remaining $816,664 will expire in 2018.

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, 2017, the following Funds utilized capital loss carryforwards as follows:

 

Fund

    Amount  

Seix Corporate Bond Fund

      $156,102  

Seix Limited Duration Fund

      10,422  

Seix Short-Term Bond Fund

      98,110  

Seix U.S. Government Securities Ultra-Short Bond Fund

      6,496,833  

Seix Ultra-Short Bond Fund

      317,465  

During the fiscal year ended March 31, 2017, the following Fund had capital loss carryforwards that expired in fiscal 2017 as follows:

 

Fund

    Amount  

Seix Floating Rate High Income Fund

      $25,038,485  

Seix Ultra-Short Bond Fund

      202,726  

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, 2017, the following Funds had net capital losses:

 

Fund

    Short Term      Long Term     Total  

Seix Core Bond Fund

      $3,071,858        $(227,273 )      $2,844,585  

Seix Corporate Bond Fund

      116,480        (116,479 )      1  

 

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NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

 

Fund

    Short Term      Long Term     Total  

Seix Georgia Tax-Exempt Bond Fund

      $295,605        $—       $295,605  

Seix High Grade Municipal Bond Fund

      1,508,065        (433,078 )      1,074,987  

Seix Investment Grade Tax-Exempt Bond Fund

      7,549,227        (1,001,571 )      6,547,656  

Seix North Carolina Tax-Exempt Bond Fund

      221,860        (53,717 )      168,143  

Seix Short-Term Bond Fund

      87,334        1,815       89,149  

Seix Short-Term Municipal Bond Fund

      9,792        (524 )      9,268  

Seix Total Return Bond Fund

      14,817,124        (229,958 )      14,587,166  

Seix U.S. Mortgage Fund

      84,725        24,269       108,994  

Seix Virginia Intermediate Municipal Bond Fund

      472,345        —       472,345  

Amounts designated as “—” are $0.

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, 2017, 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, 2017.

 

7. Reorganizations

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 Target 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 fiscal 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 ) 

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  

R Shares

      140,575        104,870      $ 1,176,793  

 

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NOTES TO FINANCIAL STATEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

 

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. Subsequent Events

Management has evaluated subsequent events through the date the financial statements are issued. Management has determined, except as set forth below, that there are no material events that would require disclosure in the Funds’ financial statements through this date.

On December 16, 2016, Virtus Investment Partners, Inc. entered into an agreement to acquire all outstanding equity securities of the Investment Adviser from Lightyear Capital and a group of employees of the Investment Adviser. On December 14, 2016, the Board had approved, subject to shareholder approval, an agreement and plan of reorganization pursuant to which each Fund will be reorganized into a newly created series of Virtus Asset Trust (the “Plan”), and recommends that shareholders of each Fund approve the Plan. As a result, shareholders of each Fund were asked at a special meeting of shareholders on May 9, 2017 to approve the Plan. The special meeting of shareholders on May 9, 2017 was adjourned to May 30, 2017 with respect to certain Funds that had not yet reached quorum.

Effective April 1, 2017, Seix Corporate Bond Fund, Seix Floating Rate High Income Fund, Seix High Income Fund and Seix Investment Grade Tax-Exempt Bond Fund A Shares Rule 12b-1 Plan distribution and service fee was reduced to a maximum of 0.25% annually, as a percentage of the value of your investment.

 

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

RIDGEWORTH FUNDS    March 31, 2017

 

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 the 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, 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, 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, Seix Ultra-Short Bond Fund, and Seix Virginia Intermediate Municipal Bond (seventeen of the funds constituting RidgeWorth Funds, collectively the “Funds”) as of March 31, 2017, 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 herein, 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 audit 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 as of March 31, 2017 by correspondence with the custodian, agent banks 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 25, 2017

 

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OTHER FEDERAL TAX INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

The following Funds hereby designate the following amounts as long term capital gain distributions:

 

Fund

    Long Term
Capital
Dividend		  

Seix Core Bond Fund

      $1,388,513  

Seix Corporate Bond Fund

      75,686  

Seix Georgia Tax-Exempt Bond Fund

      1,343,503  

Seix High Grade Municipal Bond Fund

      826,599  

Seix Investment Grade Tax-Exempt Bond Fund

      2,775,085  

Seix North Carolina Tax-Exempt Bond Fund

      639,791  

Seix Total Return Bond Fund

      5,766,584  

Seix U.S. Mortgage Fund

      101,819  

Seix Virginia Intermediate Municipal Bond Fund

      1,148,111  

For corporate shareholders, the following percentages of the total ordinary income distributions paid by the following Funds during the fiscal year ended March 31, 2017 qualify for the corporate dividends received deduction:

 

Fund

    Dividends
Received
Deductions		  

Seix Floating Rate High Income Fund

      0.46 % 

Siex High Income Fund

      1.03  

Seix High Yield Fund

      0.01  

For the fiscal year ended March 31, 2017, the following Funds paid qualified dividend income:

 

Fund

    Qualified
Dividend
Income		  

Seix Floating Rate High Income Fund

      0.46 % 

Siex High Income Fund

      1.04  

Seix High Yield Fund

      0.01  

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS

 

RIDGEWORTH FUNDS    March 31, 2017

(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 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

(month/year of

birth)

   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.     28     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).     28    

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).     28     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.     28     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.     28     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).     28     None

 

* Mr. Parikh is an “interested person” of the Trust, as defined in the 1940 Act, because he is an employee of the Adviser.

 

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TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Name, Address and

(month/year of birth)

  

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

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(November 1972)

   President and Chief Executive Officer   One year; since 2007   Managing Director, Product Manager, RidgeWorth Investments (since 2004).

James L. Love

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(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

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(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).

Sean Nossaman

3333 Piedmont Road,

NE, Suite 1500, Atlanta, GA 30305

(June 1982)

   Assistant Treasurer   One year; since 2016   Assistant Treasurer, RidgeWorth Investment (since 2016); Assistant Fund Controller, ALPS Fund Services, Inc. (2007) to (2016)**

James Bacik
State Street Bank and Trust Co.
1 Iron Street
Boston, MA 02110

(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 Summer Street

Boston, MA 02111

(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).

Rebecca Gilding

State Street Bank and Trust Company

100 Summer Street

Boston, MA 02111

(December 1979)

   Assistant Secretary   One year; since May 2016  

Vice President and Counsel, State Street Bank and Trust Company (since 2016); Assistant Vice President and Associate Counsel, Brown Brothers Harriman and Co. (2013-2016); Assistant Vice President Citi Fund Services, Inc.

(2005-2013).*

 

* 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.

 

** During the period indicated the Officer has held various positions at ALPS Fund Services, Inc. and has provided his most recent title.

 

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INVESTMENT ADVISORY AGREEMENT

 

RIDGEWORTH FUNDS    March 31, 2017

(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 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 most recent 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 13, 2016, and reviewed additional material from the Adviser and Subadviser in preparation for its quarterly meeting held on November 14-15, 2016, 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 and over the years. 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, including all of the 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, 2017

(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.

Approval of Interim Advisory and Subadvisory Agreements

Following its consideration of the annual continuance of the existing advisory and subadvisory agreements discussed above, at a special meeting held on December 14, 2016, the Board of Trustees considered a proposed interim advisory agreement between the Adviser and the Trust and proposed interim subadvisory agreements between the Adviser and the Subadviser. The Board noted that the interim agreements are the same as the existing advisory and subadvisory agreements they are intended to replace, including the rate of compensation thereunder, except for differences reflecting the requirements of Rule 15a-4 under the 1940 Act, such as the date of execution, effectiveness, termination, and compensation conditions. In approving the interim advisory and subadvisory agreements, the Board noted its recent comprehensive review, described above, in connection with its consideration of the annual continuance of the existing advisory and subadvisory agreements.

 

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ADDITIONAL INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Shareholder Meeting Results

A Special Meeting of the shareholders (the “Meeting”) of each series of RidgeWorth Funds (the “Trust”) was held on May 9, 2017. The details of the voting with respect to the Proposal are shown below. The Proposal received the required number of affirmative votes for approval.

The May 9, 2017 Meeting was held to consider and act on the following proposal:

Proposal: To approve The Agreement and Plan of Reorganization by and among RidgeWorth Funds on behalf of the acquired Fund Virtus Asset Trust on behalf of the corresponding acquiring fund RidgeWorth Capital Management LLC and Virtus Investment Partners Inc.

 

     Number of Shares(1)  
     Affirmative      Objecting      Abstaining(2)      Uninstructed(2)  

Seix Corporate Bond Fund

     1,259,034        8,513        32,234        —  

Seix Floating Rate High Income Fund

      341,966,628        4,370,147        3,421,870        —  

Seix Georgia Tax-Exempt Bond Fund

      7,213,225        125,065        3,029        —  

Seix High Grade Municipal Bond Fund

      3,363,337        70,771        34,596        883,894  

Seix High Yield Fund

     33,903,148        442,753        590,194        989,332  

Seix Investment Grade Tax-Exempt Fund

      25,551,400        130,743        121,514        4,005,965  

Seix Limited Duration Fund

     676,439        —        —        —  

Seix North Carolina Tax-Exempt Bond Fund

      2,092,956        27,358        12,542        —  

Seix Short-Term Municipal Bond Fund

      1,915,322        22,805        4,613        —  

Seix U.S. Government Securities Ultra-Short Bond Fund

      75,510,428        2,698,602        1,053,985        —  

Seix Ultra-Short Bond Fund

     7,683,261        32,555        45,203        —  

Seix Virginia Intermediate Municipal Bond Fund

      4,420,620        28,181        48,370        —  

 

 

(1) Excludes fractional shares.

 

(2) Uninstructed shares (i.e., proxies from brokers or nominees indicating that such persons have not received instructions from the beneficial owner or other person entitled to vote shares on a particular matter with respect to which the brokers or nominees do not have discretionary power) were treated as shares that were present at the meeting for purposes of establishing a quorum, but had the effect of a vote against the Proposal. Uninstructed shares are sometimes referred to as broker non-votes. Abstentions were also treated in this manner.

 

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ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

(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, 2016 through March 31, 2017.

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
10/01/16		      Ending
Account Value
03/31/17		      Expenses Paid
During Period*
10/01/16-03/31/17		      Expense Ratio
During Period**
10/01/16-03/31/17		  

Seix Core Bond Fund

      I Shares        $1,000.00        $980.60        $2.42        0.49 % 
     A Shares        1,000.00        979.90        3.11        0.63  
     R Shares        1,000.00        978.60        4.49        0.91  
     IS Shares        1,000.00        981.30        2.67        0.54  

Seix Corporate Bond Fund

      I Shares        1,000.00        994.00        3.43        0.69  
     A Shares        1,000.00        992.80        4.67        0.94  
     C Shares        1,000.00        989.30        8.13        1.64  

Seix Floating Rate High Income Fund

      I Shares        1,000.00        1,033.70        3.09        0.61  
     A Shares        1,000.00        1,032.00        4.71        0.93  
     C Shares        1,000.00        1,030.20        7.64        1.51  
     IS Shares        1,000.00        1,034.20        2.59        0.51  

Seix Georgia Tax-Exempt Bond Fund

      I Shares        1,000.00        975.20        3.20        0.65  
     A Shares        1,000.00        973.90        3.69        0.75  

Seix High Grade Municipal Bond Fund

      I Shares        1,000.00        978.20        3.21        0.65  
     A Shares        1,000.00        978.30        4.00        0.81  

Seix High Income Fund

      I Shares        1,000.00        1,037.70        4.06        0.80  
     A Shares        1,000.00        1,036.50        5.23        1.03  
     R Shares        1,000.00        1,035.60        6.09        1.20  
     IS Shares        1,000.00        1,038.50        7.17        1.41  

Seix High Yield Fund

      I Shares        1,000.00        1,035.10        3.30        0.65  
     A Shares        1,000.00        1,034.50        4.16        0.82  
     R Shares        1,000.00        1,033.20        5.22        1.03  
     IS Shares        1,000.00        1,035.80        2.74        0.54  

Seix Investment Grade Tax-Exempt Bond Fund

      I Shares        1,000.00        980.30        3.21        0.65  
     A Shares        1,000.00        978.80        3.95        0.80  

Seix Limited Duration Fund

      I Shares        1,000.00        1,005.00        1.60        0.32  

Seix North Carolina Tax-Exempt Bond Fund

      I Shares        1,000.00        975.20        3.15        0.64  
     A Shares        1,000.00        975.30        3.89        0.79  

Seix Short-Term Bond Fund

      I Shares        1,000.00        997.20        2.94        0.59  
     A Shares        1,000.00        996.30        3.93        0.79  
     C Shares        1,000.00        993.30        6.86        1.38  

Seix Short-Term Municipal Bond Fund

      I Shares        1,000.00        1,000.70        2.39        0.48  
     A Shares        1,000.00        1,000.40        2.94        0.59  

Seix Total Return Bond Fund

      I Shares        1,000.00        984.00        2.28        0.46  
     A Shares        1,000.00        982.90        3.36        0.68  
     R Shares        1,000.00        981.10        5.24        1.06  
     IS Shares        1,000.00        984.70        1.53        0.31  

Seix U.S. Government Securities Ultra- Short Bond Fund

      I Shares        1,000.00        1,005.10        2.10        0.42  
     IS Shares        1,000.00        1,005.90        1.30        0.26  

 

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ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Fund

    Class      Beginning
Account Value
10/01/16		      Ending
Account Value
03/31/17		      Expenses Paid
During Period*
10/01/16-03/31/17		      Expense Ratio
During Period**
10/01/16-03/31/17		  

Seix U.S. Mortgage Fund

      I Shares        $1,000.00        $985.10        $3.41        0.69 % 
     A Shares        1,000.00        984.00        4.45        0.90  
     C Shares        1,000.00        980.40        8.10        1.64  

Seix Ultra-Short Bond Fund

      I Shares        1,000.00        1,005.60        2.05        0.41  

Seix Virginia Intermediate Municipal Bond Fund

      I Shares        1,000.00        985.40        3.22        0.65  
     A Shares        1,000.00        985.80        3.86        0.78  

 

* 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
10/01/16		      Ending
Account Value
03/31/17		      Expenses Paid
During Period*
10/01/16-03/31/17		      Expense Ratio
During Period**
10/01/16-03/31/17		  

Seix Core Bond Fund

      I Shares        $1,000.00        $1,022.50        $2.47        0.49 % 
     A Shares        1,000.00        1,021.80        3.18        0.63  
     R Shares        1,000.00        1,020.40        4.58        0.91  
     IS Shares        1,000.00        1,022.24        2.72        0.54  

Seix Corporate Bond Fund

      I Shares        1,000.00        1,021.50        3.48        0.69  
     A Shares        1,000.00        1,020.20        4.73        0.94  
     C Shares        1,000.00        1,016.80        8.25        1.64  

Seix Floating Rate High Income Fund

      I Shares        1,000.00        1,021.90        3.07        0.61  
     A Shares        1,000.00        1,020.30        4.68        0.93  
     C Shares        1,000.00        1,017.40        7.59        1.51  
     IS Shares        1,000.00        1,022.39        2.57        0.51  

Seix Georgia Tax-Exempt Bond Fund

      I Shares        1,000.00        1,021.70        3.28        0.65  
     A Shares        1,000.00        1,021.20        3.78        0.75  

Seix High Grade Municipal Bond Fund

      I Shares        1,000.00        1,021.70        3.28        0.65  
     A Shares        1,000.00        1,020.90        4.08        0.81  

Seix High Income Fund

      I Shares        1,000.00        1,020.90        4.03        0.80  
     A Shares        1,000.00        1,019.80        5.19        1.03  
     R Shares        1,000.00        1,018.90        6.04        1.20  
     IS Shares        1,000.00        1,017.90        7.09        1.41  

Seix High Yield Fund

      I Shares        1,000.00        1,021.70        3.28        0.65  
     A Shares        1,000.00        1,020.80        4.13        0.82  
     R Shares        1,000.00        1,019.80        5.19        1.03  
     IS Shares        1,000.00        1,022.24        2.72        0.54  

Seix Investment Grade Tax-Exempt Bond Fund

      I Shares        1,000.00        1,021.70        3.28        0.65  
     A Shares        1,000.00        1,020.90        4.03        0.80  

Seix Limited Duration Fund

      I Shares        1,000.00        1,023.30        1.61        0.32  

Seix North Carolina Tax-Exempt Bond Fund

      I Shares        1,000.00        1,021.70        3.23        0.64  
     A Shares        1,000.00        1,021.00        3.98        0.79  

Seix Short-Term Bond Fund

      I Shares        1,000.00        1,022.00        2.97        0.59  
     A Shares        1,000.00        1,021.00        3.98        0.79  
     C Shares        1,000.00        1,018.10        6.94        1.38  

Seix Short-Term Municipal Bond Fund

      I Shares        1,000.00        1,022.50        2.42        0.48  
     A Shares        1,000.00        1,022.00        2.97        0.59  

 

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ADDITIONAL INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2017

(Unaudited)

 

Fund

    Class      Beginning
Account Value
10/01/16		      Ending
Account Value
03/31/17		      Expenses Paid
During Period*
10/01/16-03/31/17		      Expense Ratio
During Period**
10/01/16-03/31/17		  

Seix Total Return Bond Fund

      I Shares        $1,000.00        $1,022.60        $2.32        0.46 % 
     A Shares        1,000.00        1,021.50        3.43        0.68  
     R Shares        1,000.00        1,019.60        5.34        1.06  
     IS Shares        1,000.00        1,023.39        1.56        0.31  

Seix U.S. Government Securities Ultra- Short Bond Fund

      I Shares        1,000.00        1,022.80        2.12        0.42  
     IS Shares        1,000.00        1,023.64        1.31        0.26  

Seix U.S. Mortgage Fund

      I Shares        1,000.00        1,021.50        3.48        0.69  
     A Shares        1,000.00        1,020.40        4.53        0.90  
     C Shares        1,000.00        1,016.80        8.25        1.64  

Seix Ultra-Short Bond Fund

      I Shares        1,000.00        1,022.90        2.07        0.41  

Seix Virginia Intermediate Municipal Bond Fund

      I Shares        1,000.00        1,021.70        3.28        0.65  
     A Shares        1,000.00        1,021.00        3.93        0.78  

 

* 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.

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-0317

 

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, 2017      March 31, 2016  

Audit Fees

    $ 461,415      $ 474,230  

(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, 2017      March 31, 2016  

Audit-Related Fees

    $ 73,000      $ 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.

(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, 2017      March 31, 2016  

Tax Fees

    $ 223,690      $ 177,364  

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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, 2017      March 31, 2016
  

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 Service Affiliates.

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. The Audit Committee also will pre-approve All Other Services for Service Affiliates if such services relate directly to the operations or financial reporting of the Funds.

 

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

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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.

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 permanent 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

WCM Capital Management

Capital Innovations

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Prohibited Non-Audit Services

The SEC categorically prohibits the following non-audit services for audit clients:

 

  •   Management functions

 

  •   Human resources/Executive recruitment

 

  •   Broker-dealer, investment adviser, or investment banking services

 

  •   Legal services

 

  •   Expert services unrelated to the audit

The SEC classifies certain other non-audit services as ‘conditionally prohibited’ which may only be delivered to SEC-restricted clients that are not subject to audit by the Auditor. Conditionally prohibited services are defined to include the following:

 

  •   Bookkeeping services, including payroll

 

  •   Financial information systems design and implementation services

 

  •   Appraisal or valuation services

 

  •   Actuarial Services

 

  •   Internal audit outsourcing services

(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, 2017     March 31, 2016  
$ 166,140     $ 161,264  

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, 2017     March 31, 2016  
$ 0     $ 0  

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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.

 

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.

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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.

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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:   May 31, 2017

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:   May 31, 2017
By:  

/s/ Benjamin H. Lowe

  Benjamin H. Lowe
  Treasurer
Date:   May 31, 2017