Fannie Mae Pool

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

June

30,

2024

(Unaudited)

See

accompanying

Notes

the

Schedule

Portfolio

Investments.

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

9.7%

5,625,000‌

ARI

Fleet

Lease

Trust,

Series

2023-B,

Class

A3,

5.890%,

7/15/32(a)

........

5,718,532‌

1,403,000‌

Avis

Budget

Rental

Car

Funding

AESOP,

LLC,

Series

2020-2A,

Class

2.020%,

2/20/27(a)

.....................

1,331,873‌

6,250,000‌

Avis

Budget

Rental

Car

Funding

AESOP,

LLC,

Series

2021-1A,

Class

1.380%,

8/20/27(a)

.....................

5,770,283‌

4,543,000‌

Avis

Budget

Rental

Car

Funding

AESOP,

LLC,

Series

2023-8A,

Class

6.020%,

2/20/30(a)

.....................

4,655,824‌

3,127,000‌

Avis

Budget

Rental

Car

Funding

AESOP,

LLC,

Series

2024-1A,

Class

5.360%,

6/20/30(a)

.....................

3,113,994‌

5,730,000‌

CarMax

Auto

Owner

Trust,

Series

2023-4,

Class

A4,

5.960%,

5/15/29

..........

5,864,183‌

8,720,000‌

Carvana

Auto

Receivables

Trust,

Series

2021-P2,

Class

1.270%,

3/10/27

....

8,115,660‌

4,791,000‌

Citibank

Credit

Card

Issuance

Trust,

Series

2007-A3,

Class

A3,

6.150%,

6/15/39

5,130,037‌

284‌

Citicorp

Residential

Mortgage

Trust,

STEP,

Series

2007-2,

Class

A6,

4.543%,

6/25/37

.......................

282‌

7,000,000‌

Enterprise

Fleet

Financing,

LLC,

Series

2022-1,

Class

A3,

3.270%,

1/20/28(a)

6,818,092‌

7,101,000‌

Enterprise

Fleet

Financing,

LLC,

Series

2023-1,

Class

A3,

5.420%,

10/22/29(a)

7,097,032‌

11,959,000‌

Ford

Credit

Auto

Owner

Trust,

Series

2021-2,

Class

1.530%,

5/15/34(a)

...

10,984,697‌

6,000,000‌

Financial

Revolving

Receivables

Trust,

Series

2021-1,

Class

1.170%,

6/12/34(a)

.....................

5,499,435‌

15,735,000‌

Hertz

Vehicle

Financing

III

L.P.,

Series

2021-2A,

Class

1.680%,

12/27/27(a)

14,360,936‌

7,000,000‌

Hertz

Vehicle

Financing,

LLC,

Series

2022-2A,

Class

2.330%,

6/26/28(a)

6,420,082‌

327,505‌

New

Century

Home

Equity

Loan

Trust,

Series

2003-4,

Class

M1,

6.585%,

(TSFR1M

plus

1.24%),

10/25/33(b)

...

324,691‌

13,050,000‌

OneMain

Direct

Auto

Receivables

Trust,

Series

2023-1A,

Class

5.410%,

11/14/29(a)

.....................

13,035,561‌

20,805,000‌

OneMain

Financial

Issuance

Trust,

Series

2021-1A,

Class

A1,

1.550%,

6/16/36(a)

18,925,559‌

3,950,000‌

OneMain

Financial

Issuance

Trust,

Series

2022-S1,

Class

4.130%,

5/14/35(a)

3,864,842‌

35,857‌

RAAC

Trust,

STEP,

Series

2004-SP1,

Class

AI3,

6.118%,

3/25/34

.............

34,993‌

1,529,959‌

Saxon

Asset

Securities

Trust,

Series

2004-

Class

M1,

6.360%,

(TSFR1M

plus

1.01%),

12/26/34(c)

..............

1,465,297‌

5,037,000‌

SBA

Tower

Trust,

Series

2014-2A,

Class

3.869%,

10/15/49(a)

..............

5,004,425‌

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

8,614,000‌

Verizon

Master

Trust,

Series

2024-3,

Class

A1A,

5.340%,

4/22/30

.............

8,690,442‌

Total

Asset

Backed

Securities

(Cost

$148,894,314)

..............

142,226,752‌

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

3.2%

15,308‌

Adjustable

Rate

Mortgage

Trust,

Series

2004-5,

Class

4A1,

5.031%,

4/25/35(d)

15,175‌

9,080‌

Citigroup

Mortgage

Loan

Trust,

Inc.,

Series

2004-NCM2,

Class

3CB2,

6.500%,

8/25/19(b)

.....................

9,026‌

40,710‌

Countrywide

Home

Loan

Mortgage

Pass-

Through

Trust,

Series

2004-3,

Class

A4,

5.750%,

4/25/34

.................

38,577‌

60,479‌

Credit

Suisse

First

Boston

Mortgage-

Backed

Pass-Through

Certificates,

Series

2004-1,

Class

2A1,

6.500%,

2/25/34

...

59,811‌

576,270‌

Fannie

Mae,

Series

2011-38,

Class

4.500%,

5/25/41(b)

...............

564,600‌

836,582‌

Fannie

Mae,

Series

2013-16,

Class

1.750%,

1/25/40

.................

814,775‌

891,000‌

Fannie

Mae,

Series

2013-70,

Class

CY,

3.500%,

7/25/43

.................

755,810‌

375,698‌

Fannie

Mae,

Series

2014-39,

Class

VP,

3.000%,

8/25/27

.................

372,212‌

126,939‌

Fannie

Mae,

Series

2017-64,

Class

PD,

2.500%,

7/25/47

.................

108,985‌

206,929‌

Freddie

Mac,

Series

3632,

Class

PK,

5.000%,

2/15/40

.................

206,148‌

730,000‌

Freddie

Mac,

Series

3762,

Class

LN,

4.000%,

11/15/40

................

674,826‌

208,543‌

Freddie

Mac,

Series

4077,

Class

PJ,

3.500%,

11/15/40

................

205,292‌

1,387,470‌

Freddie

Mac,

Series

4100,

Class

PA,

3.000%,

1/15/42

.................

1,297,684‌

6,956,976‌

Freddie

Mac,

Series

4112,

Class

PB,

4.000%,

9/15/42

.................

6,398,207‌

507,000‌

Freddie

Mac,

Series

4120,

Class

YK,

2.000%,

10/15/32

................

409,571‌

441,023‌

Freddie

Mac,

Series

4136,

Class

HZ,

3.500%,

11/15/27

................

425,338‌

324,000‌

Freddie

Mac,

Series

4160,

Class

HH,

2.500%,

12/15/32

................

293,966‌

295,062‌

Freddie

Mac,

Series

4328,

Class

KD,

3.000%,

8/15/43

.................

277,547‌

1,304,146‌

Freddie

Mac,

Series

4427,

Class

KA,

2.250%,

7/15/44

.................

1,186,217‌

139,407‌

Freddie

Mac,

Series

4710,

Class

GA,

3.000%,

3/15/44

.................

136,764‌

9,772,909‌

Freddie

Mac,

Series

5300,

Class

AB,

5.500%,

1/25/49

.................

9,765,085‌

120,884‌

Ginnie

Mae,

Series

2008-51,

Class

PG,

5.000%,

6/20/38

.................

120,274‌

2,638,354‌

Ginnie

Mae,

Series

2014-2,

Class

AG,

2.287%,

3/20/40(d)

...............

2,272,245‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

8,776,332‌

Ginnie

Mae,

Series

2023-132,

Class

DV,

6.000%,

7/20/34

.................

8,947,969‌

11,282,216‌

Ginnie

Mae,

Series

2023-154,

Class

GA,

6.000%,

4/20/50

.................

11,452,111‌

Total

Collateralized

Mortgage

Obligations

(Cost

$47,381,185)

...............

46,808,215‌

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

13.2%

1,796,000‌

BANK5,

Series

2023-5YR3,

Class

AS,

7.559%,

9/15/56(d)

...............

1,904,685‌

9,898,000‌

BANK5

Trust,

Series

2024-5YR6,

Class

A3,

6.225%,

5/15/57

..............

10,230,807‌

9,377,000‌

BANK5

Trust,

Series

2024-5YR6,

Class

AS,

6.790%,

5/15/57(d)

............

9,772,312‌

2,940,000‌

BBCMS

Mortgage

Trust,

Series

2024-

5C25,

Class

A3,

5.946%,

3/15/57

.....

3,013,574‌

2,002,000‌

BBCMS

Mortgage

Trust,

Series

2024-

5C25,

Class

AS,

6.358%,

3/15/57(d)

...

2,050,675‌

3,398,000‌

BBCMS

Mortgage

Trust,

Series

2024-C26,

Class

A5,

5.829%,

5/15/57

..........

3,543,950‌

3,049,000‌

BBCMS

Mortgage

Trust,

Series

2024-C26,

Class

AS,

6.094%,

5/15/57(d)

.......

3,161,241‌

3,127,000‌

Benchmark

Mortgage

Trust,

Series

2023-

V2,

Class

AS,

6.537%,

5/15/55(d)

....

3,203,046‌

8,434,000‌

Benchmark

Mortgage

Trust,

Series

2024-

V5,

Class

A3,

5.805%,

1/10/57

.......

8,571,860‌

1,396,000‌

Benchmark

Mortgage

Trust,

Series

2024-

V6,

Class

A3,

5.926%,

3/15/29

.......

1,426,815‌

5,293,000‌

Benchmark

Mortgage

Trust,

Series

2024-

V6,

Class

AS,

6.384%,

3/15/29

......

5,433,869‌

8,156,000‌

Benchmark

Mortgage

Trust,

Series

2024-

V7,

Class

A3,

6.228%,

5/15/56(d)

....

8,426,189‌

6,548,000‌

Benchmark

Mortgage

Trust,

Series

2024-

V7,

Class

AS,

6.533%,

5/15/56(d)

....

6,770,594‌

7,717,000‌

BMO

Mortgage

Trust,

Series

2024-C9,

Class

A5,

5.759%,

7/15/57(e)

........

7,948,479‌

6,115,000‌

BMO

Mortgage

Trust,

Series

2024-C9,

Class

AS,

6.127%,

7/15/57(d)(e)

.....

6,298,438‌

3,222,843‌

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

6.943%,

(TSFR1M

plus

1.61%),

11/15/38(a)(c)

3,176,539‌

2,972,000‌

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

6.714%,

(TSFR1M

plus

1.39%),

12/15/38(a)(c)

.........

2,933,012‌

3,106,909‌

Trust,

Series

2021-RISE,

Class

6.893%,

(TSFR1M

plus

1.56%),

11/15/36(a)(c)

...................

3,049,626‌

4,314,000‌

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.526%,

11/10/49(d)

.......

4,023,674‌

530,000‌

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.631%,

2/10/50

..........

491,643‌

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

3,447,000‌

CFCRE

Commercial

Mortgage

Trust,

Series

2016-C7,

Class

A3,

3.839%,

12/10/54

.......................

3,284,272‌

1,337,000‌

Citigroup

Commercial

Mortgage

Trust,

Series

2017-P7,

Class

A4,

3.712%,

4/14/50

.......................

1,256,871‌

1,643,000‌

COMM

Mortgage

Trust,

Series

2014-

CR20,

Class

A4,

3.590%,

11/10/47

....

1,632,015‌

1,070,000‌

COMM

Mortgage

Trust,

Series

2014-

UBS4,

Class

A5,

3.694%,

8/10/47

....

1,067,491‌

7,241,000‌

COMM

Mortgage

Trust,

Series

2017-

COR2,

Class

A3,

3.510%,

9/10/50

....

6,777,817‌

1,337,000‌

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C4,

Class

A4,

3.808%,

11/15/48

1,300,850‌

3,080,414‌

ELP

Commercial

Mortgage

Trust,

Series

2021-ELP,

Class

6.763%,

(TSFR1M

plus

1.43%),

11/15/38(a)(c)

.........

3,038,199‌

2,898,894‌

Fannie

Mae-Aces,

Series

2017-M8,

Class

A2,

3.061%,

5/25/27(d)

............

2,759,418‌

1,833,733‌

Fannie

Mae-Aces,

Series

2019-M9,

Class

A2,

2.937%,

6/25/29

..............

1,694,599‌

3,386,000‌

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

Series

K153,

Class

A3,

3.117%,

10/25/31(d)

...........

3,043,729‌

8,536,000‌

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

Series

K155,

Class

A3,

3.750%,

4/25/33

..............

7,872,657‌

4,507,788‌

FRESB

Mortgage

Trust,

Series

2018-SB52,

Class

A10F,

3.480%,

6/25/28(d)

......

4,270,572‌

150,436‌

Mortgage

Securities

Trust,

Series

2010-

C1,

Class

5.148%,

8/10/43(a)

......

150,180‌

2,042,336‌

Mortgage

Securities

Trust,

Series

2014-

GC24,

Class

A5,

3.931%,

9/10/47

....

2,034,060‌

2,209,000‌

Mortgage

Securities

Trust,

Series

2016-

GS4,

Class

A4,

3.442%,

11/10/49(d)

...

2,098,011‌

1,565,360‌

Morgan

Chase

Commercial

Mortgage

Securities

Trust,

Series

2011-C3,

Class

5.013%,

2/15/46(a)(d)

...........

1,465,166‌

1,517,000‌

Morgan

Chase

Commercial

Mortgage

Securities

Trust,

Series

2016-JP4,

Class

A4,

3.648%,

12/15/49(d)

...........

1,433,126‌

3,742,000‌

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

2017-JP5,

Class

A5,

3.723%,

3/15/50

.................

3,556,373‌

3,343,454‌

Med

Trust,

Series

2021-MDLN,

Class

7.243%,

(TSFR1M

plus

1.91%),

11/15/38(a)(c)

...................

3,342,403‌

346,892‌

Morgan

Stanley

Bank

America

Merrill

Lynch

Trust,

Series

2014-C18,

Class

A4,

3.923%,

10/15/47

................

345,135‌

5,198,000‌

Morgan

Stanley

Bank

America

Merrill

Lynch

Trust,

Series

2016-C32,

Class

A4,

3.720%,

12/15/49

................

4,972,439‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

2,562,000‌

Morgan

Stanley

Capital

Trust,

Series

2016-BNK2,

Class

A4,

3.049%,

11/15/49

.......................

2,383,030‌

9,850,000‌

Morgan

Stanley

Capital

Trust,

Series

2018-H3,

Class

A5,

4.177%,

7/15/51

9,365,319‌

8,910,000‌

Morgan

Stanley

Capital

Inc.,

Series

2017-HR2,

Class

A4,

3.587%,

12/15/50

8,367,107‌

4,830,150‌

OPG

Trust,

Series

2021-PORT,

Class

6.275%,

(TSFR1M

plus

0.95%),

10/15/36(a)(c)

...................

4,741,094‌

2,631,955‌

SMR

Mortgage

Trust,

Series

2022-IND,

Class

6.979%,

(TSFR1M

plus

1.65%),

2/15/39(a)(c)

...................

2,567,263‌

2,812,000‌

Wells

Fargo

Commercial

Mortgage

Trust,

Series

2015-P2,

Class

A4,

3.809%,

12/15/48

.......................

2,736,194‌

723,000‌

Wells

Fargo

Commercial

Mortgage

Trust,

Series

2016-C37,

Class

A5,

3.794%,

12/15/49

.......................

692,602‌

8,591,000‌

Wells

Fargo

Commercial

Mortgage

Trust,

Series

2017-C40,

Class

A4,

3.581%,

10/15/50

.......................

8,105,585‌

899,000‌

WFRBS

Commercial

Mortgage

Trust,

Series

2014-C23,

Class

A5,

3.917%,

10/15/57

.......................

888,714‌

Total

Commercial

Mortgage-Backed

Securities

(Cost

$200,088,922)

..............

192,673,319‌

CORPORATE

BONDS

—

29.2%

Aerospace

Defense

—

1.0%

2,729,000‌

BAE

Systems

PLC,

5.300%,

3/26/34(a)

2,709,509‌

3,703,000‌

Boeing

Co.

(The),

5.705%,

5/1/40

......

3,425,009‌

1,667,000‌

Boeing

Co.

(The),

6.298%,

5/1/29(a)

....

1,691,458‌

2,684,000‌

L3Harris

Technologies,

Inc.,

5.400%,

7/31/33

.......................

2,680,761‌

1,903,000‌

Lockheed

Martin

Corp.,

4.450%,

5/15/28

1,875,034‌

2,961,000‌

RTX

Corp.,

4.500%,

6/1/42

...........

2,574,585‌

14,956,356‌

Automobiles

—

0.5%

1,149,000‌

Ford

Motor

Co.,

6.100%,

8/19/32

......

1,149,415‌

3,213,000‌

General

Motors

Financial

Co.,

Inc.,

5.850%,

4/6/30

..................

3,254,226‌

3,388,000‌

Mercedes-Benz

Finance

North

America,

LLC,

5.050%,

8/3/33(a)

............

3,342,731‌

7,746,372‌

Banks

—

4.5%

4,961,000‌

Bank

America

Corp.,

3.419%,

(TSFR3M

plus

1.30%),

12/20/28(f)

...........

4,665,439‌

4,748,000‌

Bank

America

Corp.,

5.288%,

(SOFR

plus

1.91%),

4/25/34(f)

............

4,703,900‌

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Banks

—

(continued)

2,716,000‌

Citizens

Financial

Group,

Inc.,

5.841%,

(SOFR

plus

2.01%),

1/23/30(f)

......

2,708,691‌

1,867,000‌

Comerica,

Inc.,

5.982%,

(SOFR

plus

2.16%),

1/30/30(f)

...............

1,840,671‌

2,864,000‌

Fifth

Third

Bancorp,

4.055%,

(SOFR

plus

1.36%),

4/25/28(f)

...............

2,745,860‌

1,210,000‌

Fifth

Third

Bancorp,

4.337%,

(SOFR

plus

1.66%),

4/25/33(f)

...............

1,104,421‌

4,266,000‌

First

Citizens

BancShares,

Inc.,

3.375%,

(TSFR3M

plus

2.47%),

3/15/30(f)

....

4,084,178‌

3,382,000‌

Huntington

Bancshares,

Inc.,

6.208%,

(SOFR

plus

2.02%),

8/21/29(f)

......

3,454,613‌

4,698,000‌

JPMorgan

Chase

Co.,

5.012%,

(SOFR

plus

1.31%),

1/23/30(f)

............

4,664,833‌

2,335,000‌

KeyCorp,

MTN,

2.550%,

10/1/29

......

1,980,368‌

3,730,000‌

Lloyds

Banking

Group

PLC,

4.582%,

12/10/25

.......................

3,661,952‌

3,659,000‌

Macquarie

Group,

Ltd.,

1.340%,

(SOFR

plus

1.07%),

1/12/27(a)(f)

..........

3,424,869‌

3,357,000‌

Morgan

Stanley,

MTN,

5.250%,

(SOFR

plus

1.87%),

4/21/34(f)

............

3,310,981‌

3,419,000‌

PNC

Financial

Services

Group,

Inc.

(The),

5.068%,

(SOFR

plus

1.93%),

1/24/34(f)

3,309,273‌

4,192,000‌

Sumitomo

Mitsui

Financial

Group,

Inc.,

2.130%,

7/8/30

..................

3,507,155‌

4,064,000‌

Toronto-Dominion

Bank

(The),

3.625%,

yr.

Swap

Semi

30/360

USD

plus

2.21%),

9/15/31(d)

.....................

3,869,043‌

1,760,000‌

U.S.

Bancorp,

5.850%,

(SOFR

plus

2.09%),

10/21/33(f)

...............

1,790,594‌

6,004,000‌

Wells

Fargo

Co.,

5.389%,

(SOFR

plus

2.02%),

4/24/34(f)

...............

5,946,865‌

2,893,000‌

Wells

Fargo

Co.,

MTN,

4.808%,

(SOFR

plus

1.98%),

7/25/28(f)

............

2,853,455‌

2,552,000‌

Westpac

Banking

Corp.,

GMTN,

4.322%,

(USISOA05

plus

2.24%),

11/23/31(d)

2,463,376‌

66,090,537‌

Beverages

—

0.3%

2,144,000‌

Anheuser-Busch

InBev

Finance,

Inc.,

4.900%,

2/1/46

..................

1,970,859‌

2,641,000‌

Bacardi,

Ltd./Bacardi-Martini

BV,

5.400%,

6/15/33(a)

.....................

2,579,139‌

4,549,998‌

Chemicals

—

0.2%

2,867,000‌

LYB

International

Finance

III,

LLC,

5.500%,

3/1/34

..................

2,838,774‌

Construction

Materials

—

0.4%

3,274,000‌

CRH

America

Finance,

Inc.,

5.400%,

5/21/34

.......................

3,250,662‌

2,321,000‌

Vulcan

Materials

Co.,

4.500%,

6/15/47

1,941,643‌

5,192,305‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Consumer

Discretionary

Distribution

Retail

—

0.1%

3,517,000‌

Amazon.com,

Inc.,

2.700%,

6/3/60(b)

...

2,083,903‌

Consumer

Staples

Distribution

Retail

—

0.2%

3,820,000‌

Kraft

Heinz

Foods

Co.,

4.875%,

10/1/49

3,344,823‌

Diversified

Consumer

Services

—

0.3%

2,317,000‌

Duke

University,

3.299%,

10/1/46

......

1,740,562‌

3,898,000‌

Lehigh

University,

3.479%,

11/15/46

....

2,856,281‌

4,596,843‌

Diversified

REITs

—

0.6%

3,279,000‌

American

Tower

Trust,

3.652%,

3/23/28(b)

3,082,565‌

2,764,000‌

LXP

Industrial

Trust,

2.700%,

9/15/30

...

2,334,107‌

3,428,000‌

VICI

Properties

L.P.,

5.750%,

4/1/34

....

3,397,765‌

8,814,437‌

Diversified

Telecommunication

Services

—

0.5%

29,062‌

Sprint

Spectrum

Co.,

LLC/Sprint

Spectrum

Co.

II,

LLC/Sprint

Spectrum

Co.

III,

LLC,

4.738%,

3/20/25(a)

...........

28,820‌

4,358,000‌

T-Mobile

USA,

Inc.,

6.000%,

6/15/54

...

4,529,525‌

2,700,000‌

Warnermedia

Holdings,

Inc.,

4.279%,

3/15/32

.......................

2,359,975‌

6,918,320‌

Electric

Utilities

—

1.8%

2,658,000‌

CenterPoint

Energy

Houston

Electric,

LLC,

5.150%,

3/1/34

..................

2,642,121‌

2,683,000‌

DTE

Electric

Co.,

5.200%,

4/1/33

......

2,684,821‌

2,206,000‌

Duke

Energy

Florida,

LLC,

6.400%,

6/15/38

.......................

2,369,806‌

4,927,000‌

Duke

Energy

Progress,

LLC,

3.600%,

9/15/47

.......................

3,573,385‌

2,688,000‌

Georgia

Power

Co.,

4.950%,

5/17/33

....

2,626,153‌

4,336,000‌

Indiana

Michigan

Power

Co.,

Series

4.550%,

3/15/46

.................

3,661,038‌

4,682,000‌

NextEra

Energy

Capital

Holdings,

Inc.,

2.440%,

1/15/32

.................

3,843,962‌

2,000,000‌

Southern

California

Edison

Co.,

5.750%,

4/15/54

.......................

1,967,353‌

2,636,000‌

Southern

California

Edison

Co.,

5.950%,

11/1/32

.......................

2,729,175‌

26,097,814‌

Energy

Equipment

Services

—

1.7%

3,568,000‌

Aker

ASA,

3.750%,

1/15/30(a)

......

3,270,733‌

2,108,000‌

Cheniere

Corpus

Christi

Holdings,

LLC,

3.700%,

11/15/29

................

1,949,452‌

2,167,000‌

Cheniere

Energy,

Inc.,

4.625%,

10/15/28

2,103,017‌

1,936,000‌

Energy

Transfer

L.P.,

6.550%,

12/1/33

...

2,051,540‌

3,496,000‌

Enterprise

Products

Operating,

LLC,

5.950%,

2/1/41

..................

3,604,209‌

1,537,000‌

Hess

Corp.,

7.875%,

10/1/29(b)

........

1,720,280‌

2,318,000‌

ONEOK,

Inc.,

7.150%,

1/15/51

........

2,557,650‌

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Energy

Equipment

Services

—

(continued)

2,396,000‌

Sempra

Infrastructure

Partners

L.P.,

3.250%,

1/15/32(a)

...............

1,978,252‌

1,896,000‌

Targa

Resources

Corp.,

6.500%,

3/30/34

2,010,263‌

3,194,000‌

Transcanada

Trust,

5.600%,

(5-Year

Treasury

Constant

Maturity

plus

3.99%),

3/7/82(d)

......................

2,895,736‌

24,141,132‌

Equity

Real

Estate

Investment

Trusts

(REITS)

—

0.2%

2,961,000‌

Store

Capital,

LLC,

2.750%,

11/18/30

...

2,455,647‌

Financial

Services

—

3.7%

3,650,000‌

AerCap

Ireland

Capital

DAC/AerCap

Global

Aviation

Trust,

6.150%,

9/30/30

3,775,968‌

2,160,000‌

Apollo

Debt

Solutions

BDC,

6.900%,

4/13/29(a)

.....................

2,171,806‌

2,477,000‌

Ares

Capital

Corp.,

3.875%,

1/15/26

....

2,391,482‌

1,893,000‌

Ares

Management

Corp.,

6.375%,

11/10/28

1,972,380‌

3,445,000‌

Avolon

Holdings

Funding,

Ltd.,

5.750%,

3/1/29(a)

......................

3,427,221‌

2,360,000‌

Barings

BDC,

Inc.,

3.300%,

11/23/26

...

2,178,782‌

3,509,000‌

BlackRock,

Inc.,

1.900%,

1/28/31(b)

....

2,911,484‌

3,049,000‌

Blackstone

Private

Credit

Fund,

5.950%,

7/16/29(a)

.....................

2,987,815‌

2,125,000‌

Blue

Owl

Capital

Corp.,

3.400%,

7/15/26

2,002,326‌

3,890,000‌

Blue

Owl

Finance,

LLC,

4.125%,

10/7/51(a)

.....................

2,792,863‌

3,464,000‌

Citigroup,

Inc.,

3.057%,

(SOFR

plus

1.35%),

1/25/33(f)

...............

2,948,003‌

1,977,000‌

Citigroup,

Inc.,

6.174%,

(SOFR

plus

2.66%),

5/25/34(f)

...............

2,013,317‌

1,805,000‌

Jefferies

Financial

Group,

Inc.,

4.150%,

1/23/30

.......................

1,677,862‌

4,496,000‌

JPMorgan

Chase

Co.,

4.912%,

(SOFR

plus

2.08%),

7/25/33(f)

............

4,374,010‌

2,730,000‌

LPL

Holdings,

Inc.,

6.750%,

11/17/28

...

2,864,991‌

1,823,000‌

Mitsubishi

UFJ

Financial

Group,

Inc.,

5.422%,

(1-Year

Treasury

Constant

Maturity

plus

1.38%),

2/22/29(d)

.....

1,834,460‌

4,031,000‌

Morgan

Stanley,

3.591%,

7/22/28(d)

....

3,834,317‌

2,684,000‌

S&P

Global,

Inc.,

5.250%,

9/15/33(a)

...

2,714,646‌

5,242,000‌

UBS

Group

AG,

4.988%,

(1-Year

Treasury

Constant

Maturity

plus

2.40%),

8/5/33(a)

(d)

...........................

5,008,831‌

53,882,564‌

Gas

Utilities

—

0.9%

2,971,000‌

Entergy

Louisiana,

LLC,

2.350%,

6/15/32

2,416,383‌

3,686,000‌

Entergy

Louisiana,

LLC,

5.700%,

3/15/54

3,644,448‌

2,758,000‌

National

Grid

PLC,

5.809%,

6/12/33

....

2,776,289‌

5,830,000‌

Sempra,

3.800%,

2/1/38

.............

4,776,168‌

13,613,288‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Ground

Transportation

—

0.2%

3,094,000‌

Burlington

Northern

Santa

Fe,

LLC,

4.950%,

9/15/41

.................

2,917,452‌

Health

Care

Equipment

Services

—

0.3%

2,271,000‌

HealthCare

Technologies,

Inc.,

5.857%,

3/15/30

.......................

2,335,420‌

2,671,000‌

HCA,

Inc.,

5.500%,

6/1/33

...........

2,654,099‌

4,989,519‌

Health

Care

Providers

Services

—

1.2%

1,666,000‌

AbbVie,

Inc.,

5.050%,

3/15/34

........

1,664,594‌

2,569,000‌

Amgen,

Inc.,

5.250%,

3/2/30

..........

2,589,429‌

4,990,000‌

Bristol-Myers

Squibb

Co.,

2.550%,

11/13/50

.......................

2,937,563‌

2,801,000‌

CSL

Finance

PLC,

4.250%,

4/27/32(a)

...

2,636,241‌

5,020,000‌

CVS

Health

Corp.,

2.700%,

8/21/40

....

3,349,196‌

1,446,000‌

IQVIA,

Inc.,

6.250%,

2/1/29

..........

1,486,132‌

2,931,000‌

Pfizer

Investment

Enterprises

Pte,

Ltd.,

4.750%,

5/19/33

.................

2,861,216‌

17,524,371‌

Household

Products

—

0.2%

2,695,000‌

Kenvue,

Inc.,

5.000%,

3/22/30

.........

2,705,624‌

Industrial

—

0.1%

1,361,000‌

L.P.

Industrial

Trust,

6.750%,

11/15/28

...

1,412,225‌

Industrial

REITs

—

0.2%

2,380,000‌

Prologis

Targeted

U.S.

Logistics

Fund

L.P.,

5.500%,

4/1/34(a)

................

2,386,327‌

Insurance

—

2.8%

6,075,000‌

Athene

Holding,

Ltd.,

5.875%,

1/15/34

6,023,051‌

2,214,000‌

AXIS

Specialty

Finance,

LLC,

3.900%,

7/15/29

.......................

2,071,134‌

1,715,000‌

CNO

Financial

Group,

Inc.,

6.450%,

6/15/34

.......................

1,716,733‌

3,016,000‌

Corebridge

Financial,

Inc.,

3.900%,

4/5/32

2,706,482‌

2,662,000‌

Enstar

Group,

Ltd.,

3.100%,

9/1/31

.....

2,198,883‌

2,141,000‌

F&G

Annuities

Life,

Inc.,

7.400%,

1/13/28

.......................

2,212,483‌

2,147,000‌

Global

Funding

Trust,

5.500%,

1/8/29(a)

......................

2,148,155‌

1,973,000‌

Global

Atlantic

Fin

Co.,

6.750%,

3/15/54(a)

.....................

1,960,422‌

2,074,000‌

KKR

Group

Finance

Co.

III,

LLC,

5.125%,

6/1/44(a)

......................

1,878,864‌

4,064,000‌

Meiji

Yasuda

Life

Insurance

Co.,

5.200%,

yr.

Swap

Semi

30/360

USD

plus

4.23%),

10/20/45(a)(d)

............

4,022,541‌

2,770,000‌

Nippon

Life

Insurance

Co.,

5.950%,

(5-

Year

Treasury

Constant

Maturity

plus

2.59%),

4/16/54(a)(d)

.............

2,736,544‌

2,535,000‌

RGA

Global

Funding,

5.500%,

1/11/31(a)

2,533,225‌

1,793,000‌

Sammons

Financial

Group,

Inc.,

3.350%,

4/16/31(a)

.....................

1,490,249‌

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Insurance

—

(continued)

1,722,000‌

SBL

Holdings,

Inc.,

5.000%,

2/18/31(a)

1,510,899‌

2,806,000‌

SBL

Holdings,

Inc.,

5.125%,

11/13/26(a)

2,700,036‌

2,480,000‌

Transatlantic

Holdings,

Inc.,

8.000%,

11/30/39

.......................

3,121,098‌

41,030,799‌

Services

—

0.1%

2,010,000‌

Fiserv,

Inc.,

5.450%,

3/15/34

..........

2,001,377‌

Media

—

0.5%

1,900,000‌

Charter

Communications

Operating,

LLC/

Charter

Communications

Operating

Capital,

6.550%,

6/1/34

............

1,905,937‌

4,343,000‌

FactSet

Research

Systems,

Inc.,

3.450%,

3/1/32

........................

3,790,677‌

2,132,000‌

Time

Warner

Cable,

LLC,

6.550%,

5/1/37

2,023,823‌

7,720,437‌

Metal

Glass

Containers

—

0.2%

2,617,000‌

Smurfit

Kappa

Treasury

ULC,

5.438%,

4/3/34(a)

......................

2,593,325‌

Metals

Mining

—

0.3%

2,453,000‌

Steel

Dynamics,

Inc.,

3.250%,

10/15/50

1,625,247‌

2,088,000‌

Steel

Dynamics,

Inc.,

5.375%,

8/15/34

...

2,055,046‌

3,680,293‌

Multi-Utilities

—

0.6%

3,070,000‌

CMS

Energy

Corp.,

4.700%,

3/31/43

....

2,651,524‌

3,778,000‌

Newmont

Corp.,

2.800%,

10/1/29

......

3,393,667‌

3,916,000‌

Puget

Sound

Energy,

Inc.,

4.223%,

6/15/48

3,121,870‌

9,167,061‌

Office

—

0.2%

3,420,000‌

Alexandria

Real

Estate

Equities,

Inc.,

5.625%,

5/15/54

.................

3,221,557‌

Oil,

Gas

Consumable

Fuels

—

1.2%

2,583,000‌

Apache

Corp.,

5.100%,

9/1/40

.........

2,212,225‌

2,484,000‌

Diamondback

Energy,

Inc.,

5.400%,

4/18/34

.......................

2,462,300‌

2,018,000‌

Halliburton

Co.,

4.850%,

11/15/35

.....

1,922,497‌

2,605,000‌

Ovintiv,

Inc.,

6.250%,

7/15/33

.........

2,690,219‌

3,409,000‌

Pioneer

Natural

Resources

Co.,

1.900%,

8/15/30

.......................

2,857,202‌

2,368,000‌

Schlumberger

Investment

SA,

2.650%,

6/26/30

.......................

2,086,018‌

2,633,000‌

TotalEnergies

Capital

SA,

5.488%,

4/5/54

2,609,360‌

16,839,821‌

Pharmaceuticals

—

0.1%

2,275,000‌

Johnson

Son,

Inc.,

4.750%,

10/15/46(a)

.....................

1,964,514‌

Residential

REITs

—

0.2%

1,870,000‌

Invitation

Homes

Operating

Partnership

L.P.,

4.150%,

4/15/32

.............

1,709,002‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Residential

REITs

—

(continued)

2,254,000‌

Tanger

Properties

L.P.,

2.750%,

9/1/31

...

1,839,563‌

3,548,565‌

Retail

REITs

—

0.4%

1,670,000‌

Kimco

Realty

OP,

LLC,

6.400%,

3/1/34

1,769,044‌

1,106,000‌

Phillips

Edison

Grocery

Center

Operating

Partnership

L.P.,

5.750%,

7/15/34

....

1,094,307‌

2,480,000‌

Retail

Opportunity

Investments

Partnership

L.P.,

6.750%,

10/15/28

............

2,568,290‌

5,431,641‌

Semiconductors

Semiconductor

Equipment

—

1.1%

3,093,000‌

Broadcom,

Inc.,

4.926%,

5/15/37(a)

.....

2,916,221‌

2,059,000‌

KLA

Corp.,

4.700%,

2/1/34

..........

2,004,760‌

2,980,000‌

Marvell

Technology,

Inc.,

2.950%,

4/15/31

2,574,759‌

1,527,000‌

Marvell

Technology,

Inc.,

5.950%,

9/15/33

1,580,015‌

1,515,000‌

Microchip

Technology,

Inc.,

5.050%,

3/15/29

.......................

1,503,608‌

2,613,000‌

NVIDIA

Corp.,

2.850%,

4/1/30

........

2,371,206‌

3,460,000‌

NXP

Funding,

LLC/NXP

USA,

Inc.,

5.000%,

1/15/33

.............

3,380,819‌

16,331,388‌

Software

—

0.7%

2,028,000‌

Concentrix

Corp.,

6.850%,

8/2/33

......

2,017,401‌

2,772,000‌

Dell

International,

LLC/EMC

Corp.,

5.400%,

4/15/34

.................

2,748,512‌

2,815,000‌

Oracle

Corp.,

4.900%,

2/6/33

.........

2,737,180‌

2,653,000‌

Take-Two

Interactive

Software,

Inc.,

5.000%,

3/28/26

.................

2,635,407‌

10,138,500‌

Specialty

Retail

—

0.3%

3,160,000‌

ERAC

USA

Finance,

LLC,

4.200%,

11/1/46(a)

.....................

2,590,582‌

1,909,000‌

Home

Depot,

Inc.

(The),

4.950%,

6/25/34

1,893,386‌

4,483,968‌

Technology

Hardware,

Storage

Peripherals

—

0.1%

2,145,000‌

Gartner,

Inc.,

4.500%,

7/1/28(a)

.......

2,067,327‌

Telecommunication

Services

—

0.7%

1,344,000‌

AT&T,

Inc.,

3.500%,

6/1/41

..........

1,031,955‌

3,783,000‌

AT&T,

Inc.,

3.550%,

9/15/55(b)

.......

2,565,290‌

2,900,000‌

AT&T,

Inc.,

3.850%,

6/1/60(b)

........

2,034,743‌

2,611,000‌

Sprint

Capital

Corp.,

8.750%,

3/15/32

...

3,142,482‌

2,327,000‌

Verizon

Communications,

Inc.,

2.650%,

11/20/40

.......................

1,609,027‌

10,383,497‌

Thrifts

Mortgage

Finance

—

0.2%

2,094,000‌

Radian

Group,

Inc.,

6.200%,

5/15/29

....

2,113,954‌

Tobacco

—

0.4%

1,823,000‌

BAT

Capital

Corp.,

6.421%,

8/2/33

.....

1,909,582‌

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

Tobacco

—

(continued)

3,343,000‌

Philip

Morris

International,

Inc.,

5.625%,

9/7/33

........................

3,377,805‌

5,287,387‌

Total

Corporate

Bonds

(Cost

$441,073,470)

..............

427,264,042‌

MORTGAGE-BACKED

SECURITIES

—

27.1%

Fannie

Mae

—

15.1%

3,267‌

5.000%,

9/1/25,

Pool

#255892

.........

3,243‌

866,363‌

4.000%,

12/1/33,

Pool

#MA1689

.......

838,483‌

510,734‌

4.000%,

6/1/34,

Pool

#MA1922

........

493,009‌

475,034‌

4.000%,

3/1/35,

Pool

#MA2211

........

457,717‌

208,461‌

5.500%,

8/1/37,

Pool

#995082

.........

209,473‌

2,286,013‌

3.500%,

8/1/38,

Pool

#FM2472

........

2,148,509‌

82,522‌

4.500%,

10/1/39,

Pool

#AC2645

.......

79,821‌

88,650‌

5.000%,

6/1/40,

Pool

#AD4927

........

87,811‌

88,017‌

5.000%,

6/1/40,

Pool

#AD8718

........

87,174‌

5,363,739‌

4.000%,

8/1/40,

Pool

#FM4673

........

5,163,285‌

11,327,756‌

1.500%,

12/1/40,

Pool

#MA4202

.......

9,205,721‌

174,073‌

4.500%,

12/1/40,

Pool

#AH1100

.......

169,364‌

110,606‌

4.500%,

3/1/41,

Pool

#AB2467

........

107,613‌

184,158‌

4.500%,

5/1/41,

Pool

#AI1023

.........

177,945‌

136,479‌

4.500%,

11/1/41,

Pool

#AJ4994

........

132,786‌

161,215‌

4.500%,

12/1/41,

Pool

#AJ7696

........

156,853‌

398,976‌

3.500%,

6/1/42,

Pool

#AB5373

........

364,152‌

695,381‌

3.500%,

5/1/43,

Pool

#AL3605

........

627,782‌

347,293‌

3.500%,

5/1/43,

Pool

#AB9368

........

315,903‌

8,283,942‌

3.000%,

8/1/43,

Pool

#AL9500

........

7,321,361‌

918,501‌

3.500%,

8/1/43,

Pool

#AU0613

........

836,569‌

189,239‌

4.500%,

11/1/44,

Pool

#MA2100

.......

183,183‌

554,784‌

4.500%,

1/1/45,

Pool

#MA2158

........

537,028‌

671,666‌

4.000%,

3/1/45,

Pool

#MA2217(b)

.....

630,009‌

607,229‌

4.000%,

6/1/46,

Pool

#MA2653

........

569,410‌

550,753‌

4.500%,

7/1/46,

Pool

#AS7568

........

532,621‌

755,081‌

4.000%,

11/1/46,

Pool

#MA2808

.......

707,741‌

1,013,380‌

4.000%,

5/1/47,

Pool

#BE9598

........

947,095‌

1,206,006‌

4.000%,

8/1/47,

Pool

#BH5117

........

1,128,204‌

3,112,787‌

4.000%,

4/1/48,

Pool

#BM3900

........

2,904,285‌

1,169,561‌

5.000%,

8/1/48,

Pool

#CA2219

........

1,154,570‌

2,898,190‌

3.000%,

11/1/48,

Pool

#BM5822

.......

2,534,985‌

9,755,200‌

4.500%,

11/1/48,

Pool

#BM7046

.......

9,442,856‌

4,065,140‌

3.500%,

10/1/49,

Pool

#CA4431

.......

3,646,194‌

10,088,400‌

3.000%,

3/1/50,

Pool

#FM2870

........

8,764,251‌

5,828,921‌

3.000%,

3/1/50,

Pool

#FM2714

........

5,036,682‌

6,700,273‌

2.000%,

7/1/50,

Pool

#CA6301

........

5,326,237‌

8,360,111‌

2.500%,

9/1/50,

Pool

#BQ0538

........

6,907,770‌

3,512,427‌

3.000%,

10/1/50,

Pool

#CA7381

.......

3,025,953‌

4,273,450‌

3.000%,

11/1/51,

Pool

#CB2170

.......

3,649,252‌

14,318,295‌

3.500%,

4/1/52,

Pool

#FS1475

........

12,823,520‌

11,094,910‌

3.500%,

4/1/52,

Pool

#FS1185

........

9,854,553‌

1,774,615‌

4.000%,

5/1/52,

Pool

#FS1790

........

1,626,934‌

8,707,771‌

4.500%,

6/1/52,

Pool

#FS2157

........

8,316,055‌

6,493,735‌

4.500%,

11/1/52,

Pool

#FS3809

........

6,141,668‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

6,501,024‌

5.000%,

11/1/52,

Pool

#CB5278

.......

6,300,380‌

7,283,339‌

5.500%,

3/1/53,

Pool

#FS3925

........

7,240,057‌

7,482,505‌

4.500%,

5/1/53,

Pool

#CB6304

........

7,076,801‌

16,273,396‌

5.000%,

5/1/53,

Pool

#FS4929

........

15,981,713‌

9,161,630‌

5.500%,

5/1/53,

Pool

#FS4571

........

9,073,688‌

9,884,505‌

6.000%,

6/1/53,

Pool

#FS6616

........

9,951,694‌

12,421,095‌

5.500%,

7/1/53,

Pool

#FS5589

........

12,304,239‌

6,651,905‌

6.000%,

7/1/53,

Pool

#FS5233

........

6,704,868‌

19,903,692‌

6.000%,

9/1/53,

Pool

#CB7124

........

20,214,293‌

220,223,363‌

Freddie

Mac

—

11.6%

4,086‌

5.000%,

7/1/25,

Pool

#ZA1892

........

4,046‌

48,876‌

2.500%,

1/1/28,

Pool

#ZK4918

........

46,946‌

183,329‌

3.500%,

7/1/30,

Pool

#ZS8575

........

177,032‌

26,540‌

5.000%,

3/1/36,

Pool

#ZS4230

........

26,251‌

862,217‌

4.000%,

4/1/36,

Pool

#ZA2413

........

831,321‌

1,101,127‌

3.500%,

6/1/36,

Pool

#ZA2414(b)

......

1,039,219‌

7,789‌

5.000%,

7/1/36,

Pool

#ZS1139

........

7,714‌

641,258‌

3.500%,

8/1/36,

Pool

#ZA2425

........

603,238‌

84,552‌

6.500%,

9/1/36,

Pool

#ZS4257

........

87,221‌

1,631,133‌

3.500%,

11/1/36,

Pool

#ZA2439

.......

1,536,429‌

34,950‌

5.000%,

2/1/37,

Pool

#ZI5759

.........

34,640‌

1,270,478‌

4.000%,

5/1/37,

Pool

#ZA2461

........

1,220,208‌

30,712‌

4.500%,

10/1/39,

Pool

#ZI9349

........

29,708‌

4,260,907‌

3.000%,

5/1/40,

Pool

#RB5049

........

3,825,336‌

95,680‌

5.000%,

6/1/40,

Pool

#ZA1049

........

94,774‌

233,000‌

5.000%,

7/1/40,

Pool

#ZJ0194

.........

230,698‌

27,581‌

5.000%,

9/1/40,

Pool

#ZA1066

........

27,303‌

5,757,520‌

2.000%,

12/1/40,

Pool

#RB5090

.......

4,851,733‌

347,354‌

4.000%,

12/1/42,

Pool

#ZS3671

.......

326,270‌

263,135‌

3.500%,

5/1/43,

Pool

#ZL5915

........

239,504‌

140,294‌

4.000%,

5/1/44,

Pool

#ZA4468

........

131,614‌

69,990‌

4.000%,

7/1/44,

Pool

#ZS4573

........

65,678‌

124,320‌

4.000%,

9/1/44,

Pool

#ZL8439

........

116,350‌

1,520,557‌

3.500%,

1/1/45,

Pool

#ZL8964

........

1,381,341‌

1,395,596‌

3.500%,

5/1/46,

Pool

#ZS4663

........

1,265,640‌

394,636‌

4.000%,

8/1/46,

Pool

#ZS4673

........

369,935‌

950,011‌

3.500%,

9/1/46,

Pool

#ZS4678

........

864,969‌

2,126,003‌

3.500%,

9/1/47,

Pool

#ZM4305

........

1,922,605‌

595,065‌

3.500%,

1/1/48,

Pool

#ZM5375

........

538,882‌

516,403‌

4.000%,

2/1/48,

Pool

#ZT1639

........

483,273‌

479,888‌

4.000%,

6/1/48,

Pool

#ZT0541

........

448,754‌

5,538,322‌

2.500%,

11/1/49,

Pool

#QA4396

.......

4,584,433‌

2,441,394‌

3.000%,

11/1/49,

Pool

#QA4336

.......

2,114,576‌

2,140,831‌

3.500%,

6/1/50,

Pool

#RA2794

........

1,921,560‌

8,857,214‌

2.500%,

7/1/50,

Pool

#RA2970

........

7,311,322‌

218,206‌

3.000%,

1/1/51,

Pool

#SD8123

........

187,035‌

1,218,358‌

3.000%,

12/1/51,

Pool

#SD8184

.......

1,040,006‌

4,952,153‌

3.500%,

4/1/52,

Pool

#RA7191

........

4,421,960‌

9,595,176‌

4.000%,

5/1/52,

Pool

#RA7306

........

8,854,624‌

11,444,862‌

3.500%,

6/1/52,

Pool

#SD2670

........

10,250,254‌

10,230,558‌

4.000%,

8/1/52,

Pool

#SD3617

........

9,526,678‌

9,392,353‌

4.500%,

8/1/52,

Pool

#SD1515

........

8,883,073‌

9,539,960‌

5.000%,

9/1/52,

Pool

#RA7936

........

9,254,307‌

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

(continued)

8,837,807‌

5.000%,

10/1/52,

Pool

#SD1710

.......

8,598,318‌

8,965,779‌

5.500%,

2/1/53,

Pool

#QF8052

........

8,874,705‌

11,462,444‌

4.000%,

3/1/53,

Pool

#SD3107

........

10,577,122‌

3,039,963‌

5.000%,

3/1/53,

Pool

#SD2390

........

2,956,900‌

16,047,780‌

5.500%,

3/1/53,

Pool

#SD2774

........

15,893,737‌

5,628,946‌

6.000%,

5/1/53,

Pool

#SD3072

........

5,667,182‌

9,802,220‌

5.000%,

8/1/53,

Pool

#SD3814

........

9,503,306‌

3,639,373‌

6.000%,

8/1/53,

Pool

#SD3636

........

3,668,336‌

1,667,353‌

5.000%,

9/1/53,

Pool

#SD4220

........

1,617,758‌

11,399,593‌

6.000%,

10/1/53,

Pool

#SD4222

.......

11,490,358‌

170,026,182‌

Ginnie

Mae

—

0.4%

47,555‌

5.000%,

2/15/40,

Pool

#737037

........

47,348‌

6,175,083‌

4.000%,

7/20/52,

Pool

#786280

........

5,733,101‌

5,780,449‌

Total

Mortgage-Backed

Securities

(Cost

$420,583,054)

..............

396,029,994‌

MUNICIPAL

BONDS

—

1.0%

Alabama

—

0.1%

2,675,000‌

Alabama

Economic

Settlement

Authority,

Economic

Imports,

Taxable

Settlement

Revenue,

Series

4.263%,

9/15/32(b)

.....................

2,572,227‌

California

—

0.1%

1,145,000‌

State

California,

Build

America

Bonds,

School

Improvements

G.O.,

7.625%,

3/1/40(b)

......................

1,357,649‌

New

York

—

0.8%

345,000‌

Metropolitan

Transportation

Authority,

Taxable

Revenue

Bonds,

Series

C2,

5.175%,

11/15/49

.............

311,176‌

7,130,000‌

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Public

Improvements,

Taxable

Revenue,

Sub

Series

B3,

Callable

11/1/29

100,

3.000%,

11/1/33

.....

6,032,978‌

5,000,000‌

New

York,

NY,

Public

Improvements

G.O.,

Series

B-2,

5.675%,

10/1/33

.........

5,263,450‌

11,607,604‌

Total

Municipal

Bonds

(Cost

$16,456,678)

...............

15,537,480‌

U.S.

GOVERNMENT

AGENCIES

—

0.6%

Federal

Farm

Credit

Banks

Funding

Corp.

—

0.6%

4,769,000‌

4.125%,

12/15/32

..................

4,612,793‌

Sterling

Capital

Total

Return

Bond

Fund

Schedule

Portfolio

Investments

—

(continued)

June

30,

2024

(Unaudited)

Continued

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

AGENCIES

—

(continued)

Federal

Farm

Credit

Banks

Funding

Corp.

—

(continued)

5,325,000‌

2.400%,

3/24/36

...................

4,138,044‌

8,750,837‌

Total

U.S.

Government

Agencies

(Cost

$9,046,948)

................

8,750,837‌

U.S.

TREASURY

BONDS

—

7.1%

132,943,700‌

2.500%,

2/15/45

.................

95,309,208‌

15,628,900‌

1.375%,

8/15/50

.................

8,059,262‌

Total

U.S.

Treasury

Bonds

(Cost

$101,722,897)

..............

103,368,470‌

U.S.

TREASURY

NOTES

—

8.5%

93,256,500‌

4.125%,

11/15/32(b)

..............

91,839,438‌

33,035,300‌

4.000%,

2/15/34

.................

32,137,153‌

Total

U.S.

Treasury

Notes

(Cost

$121,874,711)

..............

123,976,591‌

MONEY

MARKET

FUND

—

0.9%

13,512,773‌

Federated

Treasury

Obligations

Fund,

Institutional

Shares,

5.17%(g)

.......

13,512,773‌

Total

Money

Market

Fund

(Cost

$13,512,773)

...............

13,512,773‌

Total

Investments

—

100.5%

(Cost

$1,520,634,952)

..........................

1,470,148,473‌

Net

Other

Assets

(Liabilities)

—

(0.5)%

..............

(7,060,587‌)

NET

ASSETS

—

100.0%

.......................

1,463,087,886‌

(a)

Rule

144A,

Section

4(a)(2)

other

security

that

restricted

resale

qualified

institutional

investors.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

portion

these

securities

liquid.

(b)

Represents

that

all

portion

the

security

was

pledged

collateral

for

securities

purchased

when-issued

basis.

(c)

The

interest

rate

for

this

floating

rate

note,

which

will

change

periodically,

based

either

the

prime

rate

index

market

rates.

The

reflected

rate

effect

June

30,

2024.

The

maturity

date

reflected

the

final

maturity

date.

(d)

The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

based

either

the

prime

rate

index

market

rates.

The

reflected

rate

effect

June

30,

2024.

The

maturity

date

reflected

the

final

maturity

date.

(e)

Represents

securities

purchased

when-issued

basis.

June

30,

2024,

total

cost

investments

purchased

when-issued

basis

was

$14,246,917.

(f)

Security

fix-to-float

security,

which

carries

fixed

coupon

until

certain

date,

upon

which

switches

floating

rate.

Rate

shown

the

fixed

rate.

(g)

Represents

the

current

yield

report

date.

GMTN

Global

Medium

Term

Note

G.O.

General

Obligation

MTN

Medium

Term

Note

STEP

Step

Coupon

Bond

Sterling

Capital

Funds

Notes

Schedule

Portfolio

Investments

Sterling

Capital

Total

Return

Bond

Fund

June

30,

2024

(Unaudited)

Organization:

Sterling

Capital

Funds

(the

“Trust”)

commenced

operations

October

1992

and

registered

under

the

Investment

Company

Act

1940,

amended

(“the

1940

Act”),

open-end

investment

company

established

Massachusetts

business

trust.

The

Trust

offers

Sterling

Capital

Total

Return

Bond

Fund

(referred

“Fund”).

The

Fund

“diversified”

fund

defined

the

1940

Act.

Significant

Accounting

Policies:

The

Fund

investment

company

and

accordingly

follows

the

investment

company

accounting

and

reporting

guidance

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standard

Codification

Topic

946

Financial

Services-

Investment

Companies.

The

following

summary

significant

accounting

policies

followed

the

Fund.

The

policies

are

conformity

with

United

States

generally

accepted

accounting

principles

(“U.S.

GAAP”).

The

preparation

this

schedule

requires

management

make

estimates

and

assumptions

that

affect

the

reported

amounts

assets

and

liabilities

and

disclosure

contingent

assets

and

liabilities

the

date

the

schedule

and

the

reported

amount

income

and

expense

for

the

reporting

period.

Actual

result

could

differ

from

those

estimates.

Securities

Valuation

—

Investments

the

Fund

securities

traded

national

securities

exchange

the

over-the-

counter

market

are

valued

the

closing

price

the

principal

exchange

market

(including

the

NASDAQ

Closing

Price

for

securities

traded

NASDAQ),

typically

4:00

or,

absent

such

price,

reference

the

latest

available

bid

prices

the

principal

market

which

such

securities

are

normally

traded.

The

Fund

may

also

use

independent

pricing

service

approved

the

Board

Trustees

(the

“Board”)

value

certain

securities,

including

the

use

electronic

and

matrix

techniques.

Investments

open-end

investment

companies

are

valued

their

respective

net

asset

values

reported

such

companies.

Investments

closed-end

investment

companies

and

exchange-traded

funds

are

valued

their

market

values

based

upon

the

latest

available

sale

price

or,

absent

such

price,

reference

the

latest

available

bid

prices

the

principal

market

which

such

securities

are

normally

traded.

The

differences

between

cost

and

fair

value

investments

are

reflected

either

unrealized

appreciation

depreciation.

Securities

for

which

market

quotations

are

not

readily

available

deemed

unreliable

(e.g.,

approved

pricing

service

does

not

provide

price,

furnished

price

error,

certain

stale

prices,

event

occurs

that

materially

affects

the

furnished

price)

will

fair

valued

accordance

with

procedures

established

good

faith

under

the

general

supervision

the

Board.

Fair

Value

Measurements

—

The

objective

fair

value

measurement

determine

the

price

that

would

received

sell

asset

paid

transfer

liability

orderly

transaction

between

market

participants

the

measurement

date

(an

exit

price).

Accordingly,

the

fair

value

hierarchy

gives

the

highest

priority

quoted

prices

(unadjusted)

active

markets

for

identical

assets

liabilities

(Level

and

the

lowest

priority

unobservable

inputs

(Level

3).

The

three

levels

the

fair

value

hierarchy

are

described

follows:

Level

–

quoted

prices

active

markets

for

identical

securities

Level

–

based

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

–

based

significant

unobservable

inputs

(including

Fund’s

own

assumptions

determining

the

fair

value

investments)

The

inputs

methodology

used

for

valuing

securities

are

not

necessarily

indication

the

risk

associated

with

investing

those

securities.

During

the

period

ended

June

30,

2024

there

were

significant

changes

the

valuation

policies

and

procedures.

Sterling

Capital

Funds

Notes

Schedule

Portfolio

Investments

Sterling

Capital

Total

Return

Bond

Fund

—

(continued)

June

30,

2024

(Unaudited)

The

summary

inputs

used

determine

the

fair

value

the

Fund’s

investments

June

30,

2024

follows:

Cash

and

Cash

Equivalents

—

The

Fund

considers

liquid

assets

deposited

with

bank,

and

certain

short

term

debt

instruments

with

original

maturities

three

months

less

cash

equivalents.

These

investments

represent

amounts

held

with

financial

institutions

that

are

readily

accessible

pay

Fund

expenses

investments.

The

Fund

may

invest

its

excess

cash

the

Federated

Treasury

Obligations

Fund

similar

money

market

fund

other

short-term

investment.

Credit

Enhancements

—

Certain

obligations

held

the

Fund

have

credit

enhancement

liquidity

features

that

may,

under

certain

circumstances,

provide

for

repayment

principal

and

interest

the

obligation

upon

demand

date,

interest

rate

reset

date

final

maturity.

These

enhancements

may

include:

letters

credit;

liquidity

guarantees;

security

purchase

agreements;

tender

option

purchase

agreements;

and

third

party

insurance

(i.e.,

AMBAC).

Foreign

Currency

Translation

—

The

accounting

records

the

Fund

are

maintained

U.S.

dollars.

Foreign

currency

amounts

are

translated

into

U.S.

dollars

the

latest

foreign

exchange

bid

quotation

(from

approved

pricing

vendor)

determine

the

fair

value

investments,

assets

and

liabilities.

Purchases

and

sales

securities,

income

and

expenses

are

translated

the

prevailing

rate

exchange,

the

respective

dates

such

transactions.

Such

fluctuations

are

included

with

the

net

realized

and

unrealized

gain

loss

from

investments

and

foreign

currencies.

Forward

Foreign

Currency

Exchange

Contracts

—

The

Fund

may

enter

into

forward

foreign

currency

exchange

contracts

(foreign

currency

exchange

risk)

connection

with

planned

purchases

sales

securities

hedge

the

U.S.

dollar

value

Funds

securities

denominated

particular

currency.

foreign

currency

exchange

contract

agreement

between

two

parties

buy

and

sell

currency

set

exchange

rate

future

date.

The

Fund

can

exposed

risks

the

counterparties

the

contracts

are

unable

meet

the

terms

their

contracts

and

from

unanticipated

movements

the

value

foreign

currency

relative

the

U.S.

dollar.

the

event

default

the

counterparty

the

transaction,

the

Fund’s

maximum

amount

loss,

either

the

buyer

seller,

the

unrealized

gain

the

contract.

The

forward

foreign

currency

exchange

contracts

are

adjusted

the

daily

exchange

rate

the

underlying

currency

and

any

gains

losses

are

recorded

for

purposes

this

schedule

unrealized

gains

losses

until

the

contract

settlement

date.

When

the

contract

closed,

the

Fund

records

realized

gain

(loss)

equal

the

difference

between

the

value

the

time

was

opened

and

the

value

the

time

was

closed.

Mortgage

Dollar

Rolls

—

The

Fund

may

sell

mortgage-backed

securities

for

delivery

the

current

month

and

simultaneously

contract

repurchase

substantially

similar

(same

type,

coupon

and

maturity)

securities

specific

future

date

agreed-upon

price.

The

market

value

the

securities

that

Fund

required

purchase

may

decline

below

the

agreed

upon

repurchase

price

those

securities.

Pools

mortgages

collateralizing

those

securities

may

have

different

prepayment

histories

than

those

sold.

During

the

period

between

the

sale

and

repurchase,

Fund

will

not

entitled

receive

interest

and

principal

payments

the

securities

sold.

Proceeds

the

sale

will

invested

additional

instruments

for

Fund,

and

the

income

from

these

investments

will

generate

income

for

Fund.

such

income

does

not

exceed

the

income,

capital

appreciation

and

gain

loss

that

would

have

been

realized

the

securities

sold

part

the

dollar

roll,

the

use

this

technique

will

diminish

the

investment

performance

Fund

compared

with

what

the

performance

would

have

been

without

the

use

dollar

rolls.

The

Fund

accounts

for

mortgage

dollar

roll

transactions

purchases

and

sales.

The

Fund

did

not

hold

any

mortgage

dollar

rolls

during

the

period.

Risks

Associated

with

Foreign

Securities

and

Currencies

—

Investments

securities

foreign

issuers

carry

certain

risks

not

ordinarily

associated

with

investments

securities

domestic

issuers.

Such

risks

include

future

political

and

economic

developments

and

the

possible

imposition

exchange

controls

other

foreign

governmental

laws

and

restrictions.

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Significant

Unobservable

Inputs

Total

Assets:

Investments

Securities

Sterling

Capital

Total

Return

Bond

Fund

...............

13,512,773(a)

1,456,635,700(b)

—

1,470,148,473

(a)

Represents

money

market

funds

and/or

certain

preferred

stocks.

(b)

Industries,

countries

security

types

are

disclosed

the

Schedule

Portfolio

Investments.

Sterling

Capital

Funds

Notes

Schedule

Portfolio

Investments

Sterling

Capital

Total

Return

Bond

Fund

—

(continued)

June

30,

2024

(Unaudited)

addition,

with

respect

certain

countries,

there

the

possibility

expropriation

assets,

confiscatory

taxation,

political

social

instability

diplomatic

developments

which

could

adversely

affect

investments

those

countries.

Certain

foreign

investments

may

also

subject

foreign

withholding

taxes.

When-Issued

—

The

Fund

may

purchase

securities

“when-issued”

basis.

The

Fund

records

when-issued

securities

the

trade

date

and

pledge

assets

with

value

least

equal

the

purchase

commitment

for

payment

the

securities

purchased.

The

value

the

securities

underlying

when-issued

forward

commitments

purchase

securities,

and

any

subsequent

fluctuation

their

value,

taken

into

account

when

determining

the

net

asset

value

the

Fund

commencing

with

the

date

the

Fund

agrees

purchase

the

securities.

The

Fund

does

not

accrue

interest

dividends

“when-issued”

securities

until

the

underlying

securities

are

received.