FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Registrant Name: STERLING CAPITAL CORPORATION
File Number: 811-1537
Registrant CIK Number: 0000102754
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Report as of the end of semiannual period: 06/30/2000 (a)
or fiscal year: / / (b)
Is this a transition report? (Y or N): N
Is this form being completed by the registrant? (Y or N): Y
Is this an amendment to a previous filing? (Y or N): N
Is this a change to a previous filing? (Y or N): N
1.A) Registrant Name: STERLING CAPITAL CORPORATION
B) File Number: 811-1537
C) Telephone Number: 2129803360
2.A) Street: 635 MADISON AVENUE
B) City: NEW YORK C) State: NY D) Zip Code: 10022 Zip Ext.: 1067
E) Foreign Country: Foreign Postal Code:
3. Is this the first filing on this form by the Registrant?(Y or N) ----- N
4. Is this the last filing on this form by the Registrant?(Y or N) ------ N
5. Is Registrant a small business investment company (SBIC)?(Y or N) --- N
6. Is Registrant a unit investment trust (UIT)?(Y or N) ----------------- N
7. A) Is Registrant a series or multiple portfolio company?(Y or N) ----- N
B) How many separate series or portfolios did Registrant have
at the end of the period? -----------------------------------------
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20. Brokerage commissions paid on portfolio transactions of Registrant:
List the 10 brokers which received the largest amount of brokerage commissions
(excluding dealer concessions in underwritings) by virtue of direct or in-
direct participation in Registrant's portfolio transactions, set forth in order
of size of gross commissions during the current reporting period:
(FOR SERIES COMPANIES, ITEMS 20 & 21 MUST BE ANSWERED IN TOTAL FOR ALL SERIES)
Commissions
Name of Broker IRS Number Received
(000's omitted)
PAINE WEBBER 13-2638166 8
MONESS, CRESPI, HARDT & CO., INC. 13-2878577 5
FAHNESTOCK & CO. 13-5657518 3
RAYMOND JAMES 59-1237041 3
DONALDSON LUFKIN JENRETTE 13-2741729 2
DIRECT BROKERAGE INC. 13-5521910 2
OPPENHEIMER & CO. 13-2798343 0
21. Aggregate brokerage commissions paid by Registrant
during current reporting period (000's omitted): 23
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22. Registrant's portfolio transactions with entities acting as principals:
List the 10 entities acting as principals with whom Registrant did the largest
amount of portfolio transactions (include all short-term obligations, and U.S.
Gov't. & tax-free securities) in both the secondary market & in underwritten
offerings set forth in order of size based upon total value of principal
transactions during the current reporting period: (FOR SERIES COMPANIES, ITEMS
22 AND 23 MUST BE ANSWERED IN TOTAL FOR ALL SERIES)
Registrant Sales by
Name of Entity IRS Number Purchases Registrant
-------------- ---------- ---------- ----------
(000's omitted)
GATES CAPITAL CORP 13-3636543 1,501 0
GENERAL ELECTRIC CAPITAL CORPORATION 13-1500700 500 0
FORD MOTOR CREDIT COMPANY 38-1612444 500 0
PAINE WEBBER 13-2638166 708 0
GENERAL MOTORS ACCEPTANCE CORPORATION 38-0572512 500 0
PRUDENTIAL SECURITIES 22-2347336 0 296
CITIBANK N.A. 13-5266470 0 253
DONALDSON LUFTKIN & JENRETTE 13-2741729 250 0
RAYMOND JAMES 59-1237041 86 0
23. Aggregate principal purchase/sale transactions of Registrant during current
reporting period. Total Purchases: 4,044 Total Sales: 548
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62. A) Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? (Y or N) ----------- N
NOTE:If answer is 'N' (No), jump to Screen Number 30. If answer is 'Y' (Yes),
state the percentage of net assets in each type at the end of the current
period:
SHORT-TERM MATURITIES
B) U.S. Treasury 0.0%
C) U.S. Government Agency 0.0%
D) Repurchase agreements 0.0%
E) State and Municipal tax-free 0.0%
F) Bank Certificates of
deposit-Domestic 0.0%
G) Bank Certificates of deposit-Foreign 0.0%
H) Bankers acceptances 0.0%
I) Commercial paper taxable 0.0%
J) Time deposits 0.0%
K) Options 0.0%
L) All other 0.0%
INTERMEDIATE & LONG-TERM MATURITIES
M) U.S. Treasury 0.0%
N) U.S. Government Agency 0.0%
O) State and Municipal tax-free 0.0%
P) Corporate 0.0%
Q) All other 0.0%
R) Investments other than debt securities 0.0%
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66. A) Is the Registrant/Series a fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? -------- Y
If answer is 'N', go to item 67. Otherwise place a 'Y' on the line
below which best describes its primary investment objective (place an
'N' on other lines).
B) Aggressive capital appreciation ------------------------ N
C) Capital appreciation -------------------------------------- Y
D) Growth ---------------------------------------------------- N
E) Growth and income ---------------------------------------- N
F) Income ---------------------------------------------------- N
G) Total return ---------------------------------------------- N
67. Is the Registrant/Series a balanced fund? (Y or N) ---------------- N
68. Does the Registrant/Series have more than 50% of its net assets
at the end of the current period invested in:
A) The securities of issuers engaged primarily in the pro-
duction or distribution of precious metals? (Y or N) ------ N
B) The securities of issuers located primarily in countries
other than the United States? (Y or N) -------------------- N
69. Is the Registrant/Series an index fund? (Y or N) ------------------ N
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71. Portfolio turnover rate for the current reporting period
A) Purchases ($000's omitted) --------------------------------- $ 5,944
B) Sales [including all maturities] ($000's omitted) ------- $ 2,961
C) Monthly average value of portfolio ($000's omitted) ----- $ 17,571
D) Percent turnover (use lesser of 71A) or 71B) divided by 71C)) 17%
NOTE: Item 71D) should be a whole number; round if necessary.
FINANCIAL INFORMATION
72. A) How many months do the answers to 72 and 73 cover? ---------- 6 months
For the period covered
by this form
INCOME (000's omitted)
B) Net interest income ---------------------------- $ 127
C) Net dividend income ---------------------------- $ 240
D) Account maintenance fees ----------------------- $ 0
E) Net other income ------------------------------- $ 0
EXPENSES
F) Advisory fees ---------------------------------- $ 0
G) Administrator(s) fees -------------------------- $ 0
H) Salaries and other compensation
(Negative answers are allowed) ----------------- $ 118
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FINANCIAL INFORMATION (Cont.)
For the period covered
by this form
(000's omitted)
Expenses (Negative answers are allowed)
72. I) Shareholder servicing agent fees ------------------- $ 8
J) Custodian fees ------------------------------------- $ 9
K) Postage -------------------------------------------- $ 0
L) Printing expenses ---------------------------------- $ 0
M) Directors' fees ------------------------------------ $ 31
N) Registration fees ---------------------------------- $ 8
O) Taxes ---------------------------------------------- $ 3
P) Interest ------------------------------------------- $ 0
Q) Bookkeeping fees paid to anyone
performing this service --------------------------- $ 0
R) Auditing fees -------------------------------------- $ 11
S) Legal fees ----------------------------------------- $ 8
T) Marketing/distribution payments including
payments pursuant to a rule 12b-1 plan ------------ $ 0
U) Amortization of organization expenses -------------- $ 0
V) Shareholder meeting expenses ----------------------- $ 0
W) Other expenses ------------------------------------- $ 93
X) Total expenses ------------------------------------- $ 289
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FINANCIAL INFORMATION (Cont.)
For the period covered
by this form
(000's omitted)
EXPENSES (Negative answers are allowed this screen for 72Z only)
Y) Expense reimbursements ----------------------------- $ 0
Z) Net investment income ------------------------------ $ 78
AA) Realized capital gains ----------------------------- $ 1714
BB) Realized capital losses ---------------------------- $ 0
CC) 1. Net unrealized appreciation during the period --- $ 0
2. Net unrealized depreciation during the period --- $ 2057
DD) 1. Total income dividends for which record date
passed during the period ------------------------ $ 0
2. Dividends for a second class of open-end
company shares -----------------------------------$ 0
EE) Total capital gains distributions for which
record date passed during the period --------------- $ 0
73. Distributions per share for which record date passed during the period:
NOTE: Show in fractions of a cent if so declared.
A) 1. Dividends from net investment income ------------ $ 0.0000
2. Dividends for a second class of open-end
company shares ---------------------------------- $ 0.0000
B) Distribution of capital gains ---------------------- $ 0.0000
C) Other distributions -------------------------------- $ 0.0000
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As of the end of current reporting
74. Condensed balance sheet data: period (000's omitted except
for per share amounts)
----------------------------------
A) Cash ----------------------------------------- $ 1,124
B) Repurchase agreements ------------------------ $ 0
C) Short-term debt securities other than
repurchase agreements ------------------------ $ 1,500
D) Long-term debt securities including
convertible debt------------------------------ $ 3,807
E) Preferred, convertible preferred, and
adjustable rate preferred stock -------------- $ 745
F) Common stock --------------------------------- $ 14,404
G) Options on equities -------------------------- $ 0
H) Options on all futures ----------------------- $ 0
I) Other investments ---------------------------- $ 50
J) Receivables from portfolio instruments sold -- $ 702
K) Receivables from affiliated persons ---------- $ 0
L) Other receivables ---------------------------- $ 164
M) All other assets ----------------------------- $ 14
N) Total assets --------------------------------- $ 22,510
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Condensed balance sheet data (Cont.)
As of the end of current reporting
period (000's omitted except for per
share amounts and number of accounts)
-------------------------------------
74. O) Payables for portfolio instruments purchased -- $ 280
P) Amounts owed to affiliated persons ------------ $ 0
Q) Senior long-term debt ------------------------- $ 0
R) Other liabilities:
1. Reverse repurchase agreements --------- $ 0
2. Short sales --------------------------- $ 0
3. Written options ----------------------- $ 0
4. All other liabilities ----------------- $ 58
S) Senior equity --------------------------------- $ 0
T) Net assets of common shareholders ------------- $ 22,172
U) 1. Number of shares outstanding --------------- $ 2,500
2. Number of shares outstanding of a second
class of shares of open-end company -------- $ 0
V) 1. Net asset value per share (to nearest cent) $ 8.87
2. Net asset value per share of a second class
of open-end company shares (to nearest cent) $ 0.00
W) Mark-to-market net asset value per share
for money market funds only (to 4 decimals) --- $ 0.0000
X) Total number of shareholder accounts --------- $ 1,175
Y) Total value of assets in segregated accounts -- $ 0
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75. Average net assets during the current reporting period ($000's omitted).
Answer only one:
A) Daily average (for money market funds) ------------ $ 0
B) Monthly average (for all other funds) ------------- $ 22,117
76. Market price per share at end of period
(closed-end funds only) ----------------------------- $ 6.375
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77. A) Is the Registrant filing any of the following attachments with the
current filing of Form N-SAR? (ANSWER FOR ALL SERIES AS A GROUP)
(Y or N) ------------------------------- N
NOTE: If answer is 'Y' (Yes), mark those items below being filed as an
attachment to this form or incorporated by reference.
B) Accountant's report on internal control -------------------
C) Matters submitted to a vote of security holders -------------
D) Policies with respect to security investment ---------------
E) Legal proceedings -------------------------------------------
F) Changes in security for debt -------------------------------
G) Defaults and arrears on senior securities -------------------
H) Changes in control of Registrant -----------------------------
I) Terms of new or amended securities --------------------------
J) Revaluation of assets or restatement of capital
share account -----------------------------------------------
K) Changes in Registrant's certifying account ----------------
L) Changes in accounting principles and practices ---------------
M) Mergers ------------------------------------------------------
N) Actions required to be reported pursuant to Rule 2a-7 -------
O) Transactions effected pursuant to Rule 10f-3 ---------------
P) Information required to be filed pursuant
to exemptive orders ------------------------------------------
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Attachment Information (Continued)
Mark those items below being filed as an attachment to this form or incorporated
form or incorporated by reference.
77. Q. 1. Exhibits -------------------------------------------------- N
Q. 2. Any information called for by instructions to
sub-item 77Q2 --------------------------------------------- N
Q. 3. Any information called for by instructions to
sub-item 77Q3 --------------------------------------------- N
78. Does the Registrant have any wholly-owned investment company subsidiaries
whose operating & financial data are consolidated with that of Registrant
in this report? (Y or N)
NOTE: If answer is 'N' (No), jump to Screen 41.
79. List the "811" numbers and names of Registrant's wholly-owned investment
company subsidiaries consolidated in this report.
811 Number Subsidiary Name
---------- ---------------
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SIGNATURE
---------
This report is signed on behalf of the Registrant.
Name of Registrant: Sterling Capital Corporation
Date: 8/30/2000
By: /s/ Wayne S. Reisner
------------------------
Wayne S. Reisner
President
