Sterling Capital Ultra Short Bond Fund

---

Sterling Capital Ultra Short Bond Fund Portfolio Holdings, January 31, 2019 (unaudited)

Security Name HERTZ VEHICLE FINANCING, LLC, SERIES 201 ENTERPRISE FLEET FINANCING LLC, SERIES 2 FORD CREDIT AUTO OWNER TRUST, SERIES 201 CARMAX AUTO OWNER TRUST, SERIES 2015-1, FORD CREDIT AUTO OWNER TRUST/FORD CREDIT KINDER MORGAN, INC. (DE) AVIS BUDGET RENTAL CAR FUNDING AESOP, LL CHESAPEAKE FUNDING II, LLC, SERIES 2017ENERGY TRANSFER PART LP 20190201 WHEELS SPV 2, LLC, SERIES 2018-1A, CLASS ALLY AUTO RECEIVABLES TRUST, SERIES 2017 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST CHESAPEAKE FUNDING II, LLC, SERIES 2017AMERICAN EXPRESS CREDIT CORP. AMERICAN TOWER CORP WF-RBS COMMERCIAL MORTGAGE TRUST, SERIES AVIS BUDGET RENTAL CAR FUNDING AESOP, LL ISTAR, INC. MARTIN MARIETTA MATERIALS, INC. DBUBS MORTGAGE TRUST, SERIES 2011-LC2A, CITIGROUP, INC. FMC CORP. VERIZON COMMUNICATIONS INC NBCUNIVERSAL ENTERPRISE, INC. GOLDMAN SACHS GROUP, INC. (THE) EXELON GENERATION CO., LLC SBA TOWER TRUST CAPITAL ONE NA FREEPORT-MCMORAN INC INVISTA FINANCE LLC CENTURYLINK INC CITIZENS BANK NA/PROVIDENCE RI FIFTH THIRD AUTO TRUST, SERIES 2017-1, C WEA FINANCE LLC / WESTFIELD UK & EUROPE SPECTRA ENERGY PARTNERS L.P. AVALONBAY COMMUNITIES, INC. GENERAL DYNAMICS CORP CAPITAL AUTO RECEIVABLES ASSET TRUST, SE CELGENE CORP. BECTON DICKINSON AND CO COUNTRYWIDE ASSET-BACKED CERTIFICATES TOYOTA AUTO RECEIVABLES OWNER TRUST SERI HUGHES SATELLITE SYSTEMS CORP. UNITEDHEALTH GROUP INC MUFG BANK LTD MORGAN STANLEY CVS HEALTH CORP NORDEA BANK ABP NEXTERA ENERGY CAPITAL HOLDINGS, INC. MARSH & MCLENNAN COS, INC. SPRINT CAPITAL CORP. SVENSKA HANDELSBANKEN AB BARCLAYS BANK PLC NEW CENTURY HOME EQUITY LOAN TRUST, SERI RYDER SYSTEM, INC., SERIES MTN TORONTO-DOMINION BANK (THE) ING BANK NV BP CAPITAL MARKETS PLC SEMPRA ENERGY ASSOCIATED BANC-CORP. ERAC USA FINANCE LLC SL GREEN OPERATING PARTNERSHIP LP DOMINION ENERGY, INC. SHERWIN-WILLIAMS CO. (THE) WILLIAMS PARTNERS L.P. AERCAP IRELAND CAPITAL DAC / AERCAP GLOB CARMAX AUTO OWNER TRUST 2015-3 BANK OF NOVA SCOTIA/THE PHILIP MORRIS INTERNATIONAL, INC. SUNTRUST BANK/ATLANTA GA EI DU PONT DE NEMOURS & CO. GEORGIA-PACIFIC, LLC FORD CREDIT AUTO OWNER TRUST, SERIES 20 DR HORTON, INC. PENNSYLVANIA ELECTRIC CO. HARRIS CORP.

Security ID 42806DAY5 29372EBQ0 34530PAG7 14313WAE2 34530MAA7 49456BAE1 05377RBX1 165183AR5 29277FP13 96328DBF0 02007HAD3 03065KAF8 165183BB9 0258M0EJ4 03027XAC4 92935VAG3 05377RBN3 45031UCC3 573284AS5 23305XAD3 172967KL4 302491AQ8 92343VDZ4 63946CAD0 38148FAB5 30161MAP8 78403DAG5 14042RFH9 35671DBG9 46186RAA7 156700AN6 17401QAJ0 31679RAD7 92890HAB8 84756NAJ8 05348EBD0 369550BB3 13975WAE3 151020AN4 075887CF4 126670VZ8 89231UAE7 444454AB8 91324PDG4 064255BP6 61746BEH5 126650DD9 65557CAV5 65339KAR1 571748BE1 852060AG7 86960BAS1 06744CFY2 64352VLL3 78355HJU4 89114QC22 449786BD3 05565QCT3 816851BC2 045487AA3 26884TAM4 78444FAG1 25746UCT4 824348AT3 96950FAD6 00772BAD3 14313VAE4 064159LH7 718172BW8 86787EAS6 263534CL1 37331NAF8 34531PAE1 23331ABJ7 708696BW8 413875AQ8

Ticker 42806DAY5 29372EBQ0 34530PAG7 14313WAE2 34530MAA7 49456BAE1 05377RBX1 165183AR5 29277FP13 96328DBF0 02007HAD3 03065KAF8 165183BB9 0258M0EJ4 03027XAC4 92935VAG3 05377RBN3 45031UCC3 573284AS5 23305XAD3 172967KL4 302491AQ8 92343VDZ4 63946CAD0 38148FAB5 30161MAP8 78403DAG5 14042RFH9 35671DBG9 46186RAA7 156700AN6 17401QAJ0 31679RAD7 92890HAB8 84756NAJ8 05348EBD0 369550BB3 13975WAE3 151020AN4 075887CF4 126670VZ8 89231UAE7 444454AB8 91324PDG4 064255BP6 61746BEH5 126650DD9 65557CAV5 65339KAR1 571748BE1 852060AG7 86960BAS1 06744CFY2 64352VLL3 78355HJU4 89114QC22 449786BD3 05565QCT3 816851BC2 045487AA3 26884TAM4 78444FAG1 25746UCT4 824348AT3 96950FAD6 00772BAD3 14313VAE4 064159LH7 718172BW8 86787EAS6 263534CL1 37331NAF8 34531PAE1 23331ABJ7 708696BW8 413875AQ8

Shares or Par 1,125,000 758,889 695,000 600,000 600,000 544,000 515,000 512,774 500,000 500,000 500,000 493,735 491,053 475,000 475,000 450,000 450,000 450,000 413,000 399,650 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 396,000 381,000 375,000 380,000 370,000 360,000 360,000 355,000 350,000 355,000 350,000 350,000 348,679 340,000 327,000 325,000 325,000 320,000 310,000 310,000 305,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 288,000 290,000 285,000 277,000 275,000 274,000 275,000 268,000 265,000 260,000 250,000 255,000

Market Value $ 1,119,819 757,052 694,357 599,018 598,741 544,107 510,753 507,739 499,959 499,677 494,035 493,376 484,186 475,144 474,980 459,645 449,313 446,625 412,362 411,036 407,212 405,651 401,304 399,383 399,013 399,000 398,615 397,460 391,545 381,000 378,750 375,109 366,356 359,102 357,722 352,492 350,632 350,559 349,448 348,457 346,627 336,635 330,394 323,669 322,078 320,000 310,546 307,613 304,774 302,985 301,950 300,115 299,939 299,932 299,868 299,698 299,087 299,079 299,025 298,637 298,511 298,126 297,369 296,768 294,801 290,516 283,689 277,096 274,837 274,485 273,528 267,226 262,893 259,950 256,113 252,920

% of Total Coupon Rate Maturity or Market Value* (%) Expiration Date 2.43% 2.27 7/25/2020 1.64% 2.08 9/20/2021 1.51% 2.16 8/15/2020 1.30% 2.17 10/15/2020 1.30% 2.26 11/15/2025 1.18% 3.05 12/1/2019 1.11% 2.50 7/20/2021 1.10% 1.91 8/15/2029 1.08% 3.36 2/1/2019 1.08% 3.06 4/20/2027 1.07% 2.10 3/15/2022 1.07% 2.51 1/8/2021 1.05% 2.12 11/15/2029 1.03% 2.91 5/3/2019 1.03% 3.40 2/15/2019 1.00% 4.38 3/1/2044 0.97% 2.46 7/20/2020 0.97% 4.63 9/15/2020 0.89% 3.29 12/20/2019 0.89% 4.54 7/1/2044 0.88% 4.18 3/30/2021 0.88% 5.20 12/15/2019 0.87% 3.20 5/22/2020 0.87% 1.97 4/15/2019 0.87% 2.55 10/23/2019 0.87% 2.95 1/15/2020 0.86% 2.90 10/15/2019 0.86% 2.35 1/31/2020 0.85% 3.10 3/15/2020 0.83% 4.25 10/15/2019 0.82% 6.15 9/15/2019 0.81% 2.20 5/26/2020 0.79% 1.80 2/15/2022 0.78% 2.70 9/17/2019 0.78% 3.45 6/5/2020 0.76% 3.22 1/15/2021 0.76% 2.91 5/11/2020 0.76% 2.43 5/20/2022 0.76% 2.25 5/15/2019 0.76% 3.68 12/29/2020 0.75% 2.80 6/25/2036 0.73% 1.52 8/16/2021 0.72% 6.50 6/15/2019 0.70% 3.05 6/15/2021 0.70% 2.30 3/5/2020 0.69% 3.41 2/14/2020 0.67% 3.49 3/9/2021 0.67% 1.63 9/30/2019 0.66% 2.30 4/1/2019 0.66% 3.50 12/29/2020 0.66% 6.90 5/1/2019 0.65% 3.13 9/8/2020 0.65% 3.14 8/7/2019 0.65% 3.28 7/25/2035 0.65% 2.35 2/26/2019 0.65% 3.05 6/11/2020 0.65% 2.50 10/1/2019 0.65% 2.52 1/15/2020 0.65% 3.04 7/15/2019 0.65% 2.75 11/15/2019 0.65% 2.35 10/15/2019 0.65% 3.61 8/16/2021 0.65% 2.58 7/1/2020 0.64% 2.25 5/15/2020 0.64% 5.25 3/15/2020 0.63% 3.75 5/15/2019 0.62% 2.28 4/15/2021 0.60% 3.20 4/20/2021 0.60% 1.63 2/21/2019 0.60% 3.27 1/31/2020 0.59% 2.20 5/1/2020 0.58% 2.54 11/15/2019 0.57% 1.60 6/15/2021 0.56% 3.75 3/1/2019 0.56% 5.20 4/1/2020 0.55% 2.70 4/27/2020

The coupon rate represents the rates of the underlying Bonds in the portfolio and does not represent the performance of the Fund itself. Holdings are subject to change.

1 of 3

Sterling Capital Ultra Short Bond Fund Portfolio Holdings, January 31, 2019 (unaudited)

Security Name TAKEDA PHARMACEUTICAL CO., LTD. ANDEAVOR LOGISTICS L.P. / TESORO LOGISTI BANK OF MONTREAL SUMITOMO MITSUI BANKING CORP TENET HEALTHCARE CORP. DNB BANK ASA DBS GROUP HOLDINGS, LTD. US BANK NA/CINCINNATI OH DELL INTERNATIONAL LLC / EMC CORP PHILLIPS 66 REALOGY GROUP LLC / REALOGY CO-ISSUER CO TRI POINTE GROUP INC / TRI POINTE HOMES SWEDBANK AB AXIS SPECIALTY FINANCE PLC CREDIT AGRICOLE SA (LONDON) CANADIAN IMPERIAL BANK OF COMMERCE GLENCORE FUNDING LLC ENABLE MIDSTREAM PARTNERS L.P. COMPASS BANK ALLY AUTO RECEIVABLES TRUST, SERIES 2016 CATERPILLAR FINANCIAL SERVICES CORP. ABBVIE, INC. DXC TECHNOLOGY CO. HYUNDAI CAPITAL AMERICA SCENTRE GROUP TRUST 1/2 NISSAN MOTOR ACCEPTANCE CORP. FEDERATION DES CAISSES DESJARDINS DU QUE GMRF MORTGAGE ACQUISITION CO., LLC, SERI COMM MORTGAGE TRUST, SERIES 2014-CR21, C STATE OF ILLINOIS VULCAN MATERIALS CO DOLLAR TREE, INC. AMGEN, INC. SANTANDER UK PLC MISSISSIPPI POWER CO SANTANDER DRIVE AUTO RECEIVABLES TRUST, SPIRIT AEROSYSTEMS INC PRUDENTIAL FINANCIAL, INC. ALEXANDRIA REAL ESTATE EQUITIES INC DOWDUPONT, INC. ALLY FINANCIAL, INC. LOWE'S COS, INC. ACTAVIS FUNDING SCS GENERAL MOTORS FINANCIAL CO., INC. KEYSIGHT TECHNOLOGIES INC JPMORGAN CHASE & CO. EXPORT-IMPORT BANK OF KOREA JACKSON NATIONAL LIFE GLOBAL FUNDING CONSTELLATION BRANDS, INC. KOREA HYDRO & NUCLEAR POWER CO., LTD. COMMSCOPE, INC. DISCOVERY COMMUNICATIONS, LLC FORD MOTOR CREDIT CO., LLC TEXTRON, INC. DAIMLER FINANCE NORTH AMERICA, LLC PENSKE TRUCK LEASING CO., L.P. / PTL FIN CENTENE CORP. AMERICREDIT AUTOMOBILE RECEIVABLES TRUST TD AMERITRADE HOLDING CORP. SPRINT SPECTRUM CO., LLC AMERICREDIT AUTOMOBILE RECEIVABLES TRUST CENOVUS ENERGY, INC. ASSURANT INC SAXON ASSET SECURITIES TRUST, SERIES 200 WHEELS SPV 2 LLC CHEVRON PHILLIPS CHEMICAL CO LLC / CHEVR UNITED TECHNOLOGIES CORP. PROTECTIVE LIFE GLOBAL FUNDING BAT CAPITAL CORP. COMM MORTGAGE TRUST, SERIES 2015-CR22, C COUNTRYWIDE ASSET-BACKED CERTIFICATES, S ALLY AUTO RECEIVABLES TRUST 2016-2 MASTR SEASONED SECURITIZATION TRUST, SER FANNIE MAE REMICS WORLD OMNI AUTO RECEIVABLES TRUST, SERIE CAPITAL AUTO RECEIVABLES ASSET TRUST, SE

Security ID 874060AK2 88160QAK9 06367TPY0 865622CK8 88033GCJ7 23329PAB6 24023KAD0 90331HNW9 25272KAA1 718546AP9 75606DAA9 962178AL3 87020PAD9 05464HAA8 22532LAL8 136069XZ9 378272AG3 292480AG5 20451PKN5 02007XAD8 14913Q2H1 00287YAT6 23355LAB2 44891AAV9 806213AA2 654740BG3 31429KAB9 36418GAU8 12592RBD0 452152V81 929160AX7 256746AE8 031162BT6 80283LAK9 605417CA0 80285FAD6 85205TAH3 74432QBM6 015271AF6 26078JAG5 02005NAW0 548661DB0 00507UAP6 37045XBJ4 49338LAD5 46625HLW8 302154BM0 46849LTD3 21036PBA5 50064YAK9 203372AL1 25470DAN9 345397YD9 883203BZ3 233851AR5 709599AQ7 15135BAF8 03065HAE8 87236YAG3 85208NAA8 03066FAF8 15135UAD1 04621XAL2 80556XAE7 96328DAZ7 166754AN1 913017CK3 74368CAL8 05526DAR6 12592XAZ9 126673NW8 02007XAE6 55265WDB6 3136A25F6 98160YAF2 13975WAC7

Ticker 874060AK2 88160QAK9 06367TPY0 865622CK8 88033GCJ7 23329PAB6 24023KAD0 90331HNW9 25272KAA1 718546AP9 75606DAA9 962178AL3 87020PAD9 05464HAA8 22532LAL8 136069XZ9 378272AG3 292480AG5 20451PKN5 02007XAD8 14913Q2H1 00287YAT6 23355LAB2 44891AAV9 806213AA2 654740BG3 31429KAB9 36418GAU8 12592RBD0 452152V81 929160AX7 256746AE8 031162BT6 80283LAK9 605417CA0 80285FAD6 85205TAH3 74432QBM6 015271AF6 26078JAG5 02005NAW0 548661DB0 00507UAP6 37045XBJ4 49338LAD5 46625HLW8 302154BM0 46849LTD3 21036PBA5 50064YAK9 203372AL1 25470DAN9 345397YD9 883203BZ3 233851AR5 709599AQ7 15135BAF8 03065HAE8 87236YAG3 85208NAA8 03066FAF8 15135UAD1 04621XAL2 80556XAE7 96328DAZ7 166754AN1 913017CK3 74368CAL8 05526DAR6 12592XAZ9 126673NW8 02007XAE6 55265WDB6 3136A25F6 98160YAF2 13975WAC7

Shares or Par 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 240,651 243,381 240,000 240,000 225,000 220,000 220,000 215,000 215,000 215,000 200,000 205,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 190,000 185,000 180,000 181,000 175,000 171,875 170,000 159,615 158,000 158,038 155,033 150,000 150,000 150,000 150,000 145,000 139,325 135,000 134,564 127,850 125,000 122,000

Market Value 252,611 252,373 251,034 250,401 250,250 250,135 250,118 250,109 250,084 250,013 250,000 250,000 249,906 249,809 249,780 249,451 249,323 249,217 249,083 248,657 248,628 248,509 248,491 248,490 248,469 248,043 246,870 244,318 243,392 241,546 238,494 224,090 220,287 219,968 214,882 214,640 213,784 206,346 204,225 201,051 200,250 200,127 199,834 199,808 199,803 199,634 199,474 199,345 199,282 198,946 198,750 198,551 198,374 198,357 189,394 184,633 182,700 178,858 175,256 170,930 167,568 161,832 157,962 157,222 153,940 150,308 150,191 149,260 147,967 144,726 139,632 134,412 134,229 127,113 124,217 121,241

% of Total Coupon Rate Maturity or Market Value* (%) Expiration Date 0.55% 3.80 11/26/2020 0.55% 5.50 10/15/2019 0.54% 3.38 12/12/2019 0.54% 3.12 1/17/2020 0.54% 5.50 3/1/2019 0.54% 3.17 10/2/2020 0.54% 3.26 6/8/2020 0.54% 3.03 7/24/2020 0.54% 3.48 6/1/2019 0.54% 3.54 4/15/2020 0.54% 4.50 4/15/2019 0.54% 4.38 6/15/2019 0.54% 2.38 2/27/2019 0.54% 2.65 4/1/2019 0.54% 2.50 4/15/2019 0.54% 2.87 2/2/2021 0.54% 3.13 4/29/2019 0.54% 2.40 5/15/2019 0.54% 2.75 9/29/2019 0.54% 1.60 1/15/2021 0.54% 3.02 3/15/2021 0.54% 2.50 5/14/2020 0.54% 2.88 3/27/2020 0.54% 3.74 7/8/2021 0.54% 2.38 11/5/2019 0.54% 3.31 3/15/2021 0.54% 2.25 10/30/2020 0.53% 4.50 10/1/2058 0.53% 3.10 12/1/2047 0.52% 5.00 5/1/2019 0.52% 3.39 3/1/2021 0.49% 3.47 4/17/2020 0.48% 3.25 5/22/2019 0.48% 2.50 3/14/2019 0.47% 3.47 3/27/2020 0.47% 2.75 9/15/2021 0.46% 3.59 6/15/2021 0.45% 5.38 6/21/2020 0.44% 2.75 1/15/2020 0.44% 3.42 11/15/2020 0.43% 3.75 11/18/2019 0.43% 3.19 9/10/2019 0.43% 3.00 3/12/2020 0.43% 2.40 5/9/2019 0.43% 3.30 10/30/2019 0.43% 2.75 6/23/2020 0.43% 2.38 8/12/2019 0.43% 3.09 10/15/2020 0.43% 3.21 11/15/2021 0.43% 2.38 10/28/2019 0.43% 5.00 6/15/2021 0.43% 2.20 9/20/2019 0.43% 1.90 8/12/2019 0.43% 3.17 11/10/2020 0.41% 2.25 7/31/2019 0.40% 2.50 6/15/2019 0.40% 5.63 2/15/2021 0.39% 2.24 6/19/2023 0.38% 2.97 11/1/2021 0.37% 3.36 9/20/2021 0.36% 2.36 12/19/2022 0.35% 5.70 10/15/2019 0.34% 4.07 3/26/2021 0.34% 2.66 9/25/2036 0.33% 1.88 4/20/2026 0.33% 3.29 5/1/2020 0.33% 2.89 11/1/2019 0.32% 3.33 6/28/2021 0.32% 2.30 8/14/2020 0.31% 2.86 3/1/2048 0.30% 3.94 3/25/2035 0.29% 2.15 4/15/2021 0.29% 5.13 10/1/2032 0.28% 1.75 7/1/2021 0.27% 2.15 8/15/2022 0.26% 2.02 8/20/2021

The coupon rate represents the rates of the underlying Bonds in the portfolio and does not represent the performance of the Fund itself. Holdings are subject to change.

2 of 3

Sterling Capital Ultra Short Bond Fund Portfolio Holdings, January 31, 2019 (unaudited)

Security Name FNMA, SERIES 2011-55, CLASS AC AMERICAN HONDA FINANCE CORP. AXIS SPECIALTY FINANCE, LLC AT&T, INC. SOFI PROFESSIONAL LOAN PROGRAM, LLC, SER ENLINK MIDSTREAM PARTNERS L.P. DUKE ENERGY FLORIDA, LLC PUBLIC SERVICE ELECTRIC & GAS CO. FREDDIE MAC REMICS JP MORGAN MORTGAGE ACQUISITION CORP., SE CITICORP RESIDENTIAL MORTGAGE TRUST, SER JP MORGAN CHASE COMMERCIAL MORTGAGE SECU FORTIVE CORP. SANTANDER DRIVE AUTO RECEIVABLES TRUST, WF-RBS COMMERCIAL MORTGAGE TRUST, SERIES * % of Total Market Value may not sum to 100.00% due to rounding.

Security ID 31397UFY0 02665WBN0 05463HAA9 00206RCD2 78470RAA5 29336UAA5 26444HAD3 74456QBG0 3137A7AS9 46626LEL0 17312HAF6 46642CBE9 34959JAE8 80284BAF1 92935VAE8

Ticker 31397UFY0 02665WBN0 05463HAA9 00206RCD2 78470RAA5 29336UAA5 26444HAD3 74456QBG0 3137A7AS9 46626LEL0 17312HAF6 46642CBE9 34959JAE8 80284BAF1 92935VAE8

Shares or Par 120,559 116,000 100,000 100,000 99,555 100,000 100,000 85,000 62,014 55,437 53,619 47,250 35,000 24,383 6,687

Market Value 120,314 116,176 103,182 100,055 99,996 99,750 99,684 84,658 62,448 55,422 54,341 47,169 34,812 24,364 6,718 $ 46,092,306

% of Total Coupon Rate Maturity or Market Value* (%) Expiration Date 0.26% 3.00 7/1/2025 0.25% 2.95 2/14/2020 0.22% 5.88 6/1/2020 0.22% 3.44 3/11/2019 0.22% 3.36 7/25/2039 0.22% 2.70 4/1/2019 0.22% 2.10 12/15/2019 0.18% 1.80 6/1/2019 0.14% 4.00 6/1/2040 0.12% 2.94 12/25/2035 0.12% 5.12 6/1/2037 0.10% 2.87 7/1/2047 0.08% 1.80 6/15/2019 0.05% 2.44 4/15/2021 0.01% 4.00 3/1/2044 99.95%

The coupon rate represents the rates of the underlying Bonds in the portfolio and does not represent the performance of the Fund itself. Holdings are subject to change.

3 of 3