# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-25-001713
**Filing Date:** 2025-9
**Character Count:** 18218
**Document Hash:** cf945ea7e41e03b418c746f5911203eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-001713.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0000910472-25-001713

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALUED ADVISERS TRUST
- **CENTRAL INDEX KEY:** 0001437249

**ORGANIZATION NAME:**
- **EIN:** 262762915

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22208
- **FILM NUMBER:** 251353340

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DR.
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DR.
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Kovitz Core Equity ETF (Series ID: S000077457)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000237915 | Kovitz Core Equity ETF | EQTY            |

## Nport-Ex

Kovitz

Core

Equity

ETF

Schedule

of

Investments

July

31,

2025

(Unaudited)

COMMON

STOCKS

—

96.83%

Shares

Fair

Value

Communications

—

11.55%

Alphabet,

Inc.,

Class

A

24,534

$

4,708,075

Alphabet,

Inc.,

Class

C

219,861

42,402,392

Meta

Platforms,

Inc.,

Class

A

71,558

55,345,819

Universal

Music

Group

NV

-

ADR

3,063,153

43,619,299

146,075,585

Consumer

Discretionary

—

9.81%

Amazon.com,

Inc.

(a) 272,321

63,753,070

CarMax,

Inc.

(a) 493,347

27,928,374

Floor

&

Decor

Holdings,

Inc.,

Class

A

(a) 150,160

11,508,262

Lowe's

Companies,

Inc.

93,418

20,885,462

124,075,168

Consumer

Staples

—

7.01%

Dollar

Tree,

Inc.

(a) 276,025

31,342,639

Philip

Morris

International,

Inc.

349,818

57,387,643

88,730,282

Financials

—

22.27%

American

Express

Co.

78,297

23,435,075

Aon

PLC,

Class

A

92,672

32,964,357

Berkshire

Hathaway,

Inc.,

Class

B

(a) 54,935

25,922,728

Charles

Schwab

Corp.

(The)

703,274

68,730,968

Fiserv,

Inc.

(a) 235,240

32,684,246

Intercontinental

Exchange,

Inc.

302,716

55,950,998

Visa,

Inc.,

Class

A

121,663

42,030,917

281,719,289

Health

Care

—

7.46%

Abbott

Laboratories

5,922

747,297

Becton,

Dickinson

and

Co.

293,246

52,271,100

Stryker

Corp.

4,055

1,592,520

Thermo

Fisher

Scientific,

Inc.

84,911

39,711,176

94,322,093

Industrials

—

13.00%

Amentum

Holdings,

Inc.

(a) 953,554

23,810,243

Ashtead

Group

PLC

-

ADR

156,935

42,568,619

Hayward

Holdings,

Inc.

(a) 845,949

13,010,696

Jacobs

Solutions,

Inc.

337,676

47,906,094

PACCAR,

Inc.

376,412

37,174,449

164,470,101

Materials

—

0.92%

PPG

Industries,

Inc.

110,441

11,651,526

Technology

—

24.81%

Adobe,

Inc.

(a) 78,535

28,091,184

Advanced

Micro

Devices,

Inc.

(a) 202,312

35,669,628

Analog

Devices,

Inc.

94,460

21,218,550

Apple,

Inc.

73,303

15,215,504

Applied

Materials,

Inc.

166,516

29,982,871

Arista

Networks,

Inc.

(a) 279,906

34,490,017

Kovitz

Core

Equity

ETF

Schedule

of

Investments

(continued)

July

31,

2025

(Unaudited)

COMMON

STOCKS

—

96.83%

-

(continued)

Shares

Fair

Value

Technology

—

24.81%

-

(continued)

Keysight

Technologies,

Inc.

(a) 247,849

$

40,624,930

Microsoft

Corp.

95,503

50,950,850

Oracle

Corp.

102,527

26,018,277

Salesforce,

Inc.

122,048

31,528,659

313,790,470

Total

Common

Stocks/Investments

—

96.83%

(Cost $916,295,866)

1,224,834,514

Other

Assets

in

Excess

of

Liabilities — 3.17%

40,162,572

NET

ASSETS

—

100.00%

$

1,264,997,086

(a) Non-income

producing

security.

ADR

-

American

Depositary

Receipt

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Valued Advisers Trust

- **b. Investment Company Act file number:** 811-22208

- **c. CIK number of Registrant:** 0001437249

- **d. LEI of Registrant:** 549300W12YUPFS7QVT86

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

**Item A.2. Information about the Series.**

- **a. Name of Series:** KOVITZ CORE EQUITY ETF

- **b. EDGAR series identifier (if any):** S000077457

- **c. LEI of Series:** 549300VUKI0ZJ3TE1C73

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1265982118.75

**Total Liabilities:** $985032.75

**Net Assets:** $1264997086.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237915 | 4.47%                | 5.08%                | 1.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8033041.81              | $42887560.27                               |
| Month 2  | $5395473.17              | $53913831.62                               |
| Month 3  | $6110566.19              | $15903617.10                               |

### Schedule of Portfolio Investments

| Name                             | Title                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Aon PLC                          | Aon plc                           | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |     92672 | NS      | $32964357.12  | 2.61%             |  |  |  | No            | 1                  | On Loan: No      |
| American Express Company         | American Express Company          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     78297 | NS      | $23435075.07  | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp.                     | Oracle Corporation                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    102527 | NS      | $26018276.79  | 2.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com, Inc.                 | Amazon.com, Inc.                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    272321 | NS      | $63753069.31  | 5.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc               | Meta Platforms, Inc.              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     71558 | NS      | $55345819.52  | 4.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Apple Inc.                       | Apple, Inc.                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     73303 | NS      | $15215503.71  | 1.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Visa Inc                         | Visa, Inc.                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    121663 | NS      | $42030916.61  | 3.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc.                    | Alphabet, Inc.                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     24534 | NS      | $4708074.60   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Ashtead Group PLC                | Ashtead Group plc                 | CUSIP: 045055100<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |    156935 | NS      | $42568618.75  | 3.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc.                    | Alphabet, Inc.                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    219861 | NS      | $42402392.46  | 3.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc              | Arista Networks, Inc.             | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    279906 | NS      | $34490017.32  | 2.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc.      | Advanced Micro Devices, Inc.      | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    202312 | NS      | $35669628.72  | 2.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Analog Devices Inc.              | Analog Devices, Inc.              | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     94460 | NS      | $21218549.80  | 1.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Adobe Inc                        | Adobe, Inc.                       | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     78535 | NS      | $28091184.15  | 2.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Universal Music Group N.V        | Universal Music Group N.V.        | CUSIP: 91377B109<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | EC               | CORP              | NL        |   3063153 | NS      | $43619298.72  | 3.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Thermo Fisher Scientific Inc     | Thermo Fisher Scientific, Inc.    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     84911 | NS      | $39711176.48  | 3.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Keysight Technologies, Inc.      | Keysight Technologies, Inc.       | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |    247849 | NS      | $40624929.59  | 3.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Lowes Companies, Inc.            | Lowe's Companies, Inc.            | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     93418 | NS      | $20885462.26  | 1.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Becton, Dickinson and Company    | Becton Dickinson & Company        | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    293246 | NS      | $52271099.50  | 4.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Materials Inc.           | Applied Materials, Inc.           | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    166516 | NS      | $29982870.96  | 2.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Salesforce Inc.                  | Salesforce, Inc.                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    122048 | NS      | $31528659.84  | 2.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Dollar Tree Inc                  | Dollar Tree, Inc.                 | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |    276025 | NS      | $31342638.75  | 2.48%             |  |  |  | No            | 1                  | On Loan: No      |
| The Charles Schwab Corporation   | Charles Schwab Corporation (The)  | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    703274 | NS      | $68730968.02  | 5.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Jacobs Solutions Inc.            | Jacobs Solutions, Inc.            | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    337676 | NS      | $47906094.12  | 3.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Berkshire Hathaway Inc.          | Berkshire Hathaway, Inc.          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     54935 | NS      | $25922727.80  | 2.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Stryker Corporation              | Stryker Corporation               | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      4055 | NS      | $1592520.15   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| PPG Industries, Inc.             | PPG Industries, Inc.              | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |    110441 | NS      | $11651525.50  | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp.                  | Microsoft Corporation             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     95503 | NS      | $50950850.50  | 4.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Floor And Decor Holding Inc.     | Floor & Decor Holdings, Inc.      | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |    150160 | NS      | $11508262.40  | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange Inc    | Intercontinental Exchange, Inc.   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    302716 | NS      | $55950998.28  | 4.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Carmax Inc                       | CarMax, Inc.                      | CUSIP: 143130102<br>LEI: 529900F60CID3NCZM330 | Long             | EC               | CORP              | US        |    493347 | NS      | $27928373.67  | 2.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Philip Morris International Inc. | Philip Morris International, Inc. | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    349818 | NS      | $57387642.90  | 4.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Paccar Inc                       | PACCAR, Inc.                      | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |    376412 | NS      | $37174449.12  | 2.94%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                              | BBH SWEEP VEHICLE                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  40801504 | PA      | $40801503.98  | 3.23%             |  |  |  | No            | N/A                | On Loan: No      |
| Amentum Holdings, Inc.           | Amentum Holdings, Inc.            | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Long             | EC               | CORP              | US        |    953554 | NS      | $23810243.38  | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Fiserv Inc.                      | Fiserv, Inc.                      | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |    235240 | NS      | $32684245.60  | 2.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Abbott Laboratories              | Abbott Laboratories               | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      5922 | NS      | $747297.18    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Hayward Holdings Inc             | Hayward Holdings, Inc.            | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    845949 | NS      | $13010695.62  | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** Valued Advisers Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller