# EDGAR Filing Document

**Accession Number:** 0001556505
**File Stem:** 0001752724-25-184700
**Filing Date:** 2025-8
**Character Count:** 36134
**Document Hash:** abd33e0ad14cf01c85b4e4a6ecb726f9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-184700.hdr.sgml**: 20250801

**ACCESSION NUMBER**: 0001752724-25-184700

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250801

**DATE AS OF CHANGE**: 20250801

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors Preferred Trust
- **CENTRAL INDEX KEY:** 0001556505

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22756
- **FILM NUMBER:** 251176431

**BUSINESS ADDRESS:**
- **STREET 1:** 1445 RESEARCH BOULEVARD
- **STREET 2:** SUITE 530
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** 2402231998

**MAIL ADDRESS:**
- **STREET 1:** 1445 RESEARCH BOULEVARD
- **STREET 2:** SUITE 530
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

## Series and Classes Contracts Data

### Spectrum Low Volatility Fund (Series ID: S000043121)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000133465 | Spectrum Low Volatility Fund Investor Class Shares | SVARX           |

## Nport-Ex

c

---

| | | |
|:---|:---|:---|
| **SPECTRUM LOW VOLATILITY FUND** | **SPECTRUM LOW VOLATILITY FUND** | **SPECTRUM LOW VOLATILITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **OPEN-END FUNDS — 59.4%** |  |
|  | **FIXED INCOME - 59.4%** |  |
| 2122733 | Axonic Strategic Income Fund Class I | &nbsp;&nbsp;&nbsp;$19062145 |
| 881801 | Buffalo High Yield Fund, Inc. Institutional Class | &nbsp;&nbsp;&nbsp;9426454 |
| 962129 | Holbrook Structured Income Fund Class I | &nbsp;&nbsp;&nbsp;9409621 |
| 2169881 | Intrepid Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp;19485530 |
| 1045296 | Medalist Partners MBS Total Return Fund Institutional Class, Institutional Class | &nbsp;&nbsp;&nbsp;9020906 |
| 531975 | Nuveen High Yield Income Fund Class I | &nbsp;&nbsp;&nbsp;9485116 |
| 6086164 | PGIM High Yield Fund Class R6 | &nbsp;&nbsp;&nbsp;29517896 |
| 608604 | Victory Pioneer Securitized Income Fund Class Y | &nbsp;&nbsp;&nbsp;5842602 |
|  |  | &nbsp;&nbsp;&nbsp;111250270 |
|  | **TOTAL OPEN-END FUNDS (Cost $110,013,285)** | &nbsp;&nbsp;&nbsp;111250270 |
|  | **SHORT-TERM INVESTMENTS — 13.3%** |  |
|  | **MONEY MARKET FUNDS - 13.3%** |  |
| 24931774 | Fidelity Government Portfolio, Class I, 4.18% (Cost $24,931,774)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;24931774 |
|  | **TOTAL INVESTMENTS - 72.7% (Cost $134,945,059)** | &nbsp;&nbsp;&nbsp;$136182044 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 27.3%** | &nbsp;&nbsp;&nbsp;51145250 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp;&nbsp;$187327294 |

---

<sup>(a)</sup> Rate disclosed is the seven-day effective yield as of June 30, 2025.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |  |  |  |  |  |
| Number of Shares | Reference Entity | Notional Amount at June 30, 2025 | Interest Rate Payable <sup>(1)</sup> | Termination Date | Counterparty | Unrealized Appreciation (Depreciation) |
| Long Position: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968912 | American Funds American High-Income Trust, Class F-3\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19393782 | USD SOFR plus 165 bp | 4/25/2028 | BRC | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303215 | AQR Equity Market Neutral Fund, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15026064 | USD SOFR plus 165 bp | 7/28/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997333 | AQR Long-Short Equity Fund, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18989227 | USD SOFR plus 165 bp | 7/10/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640449 | BlackRock High Yield Portfolio, Class K\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18984828 | USD FED plus 165 bp | 6/30/2026 | CIBC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| 2000000 | BlackRock Strategic Income Opportunities Portfolio, Class K\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19380000 | USD FED plus 165 bp | 6/30/2026 | CIBC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| 1993637 | Credit Suisse Strategic Income Fund, Class I Shares\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18939555 | USD FED plus 165 bp | 6/30/2026 | CIBC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881899 | Diamond Hill Short Duration Securitized Bond Fund, Class Y\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18894263 | USD-SOFR plus 165 bp | 5/30/2028 | BRC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257282 | First Eagle High Yield Municipal Fund, Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600000 | USD SOFR plus 165 bp | 7/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10673) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969072 | Holbrook Income Fund, Class I\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19237835 | USD FED plus 165 bp | 6/30/2026 | CIBC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176600 | iShares Flexible Income Active ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9331544 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236300 | iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19057595 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555064 | Nuveen Floating Rate Income Fund, Class R6\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28177753 | USD SOFR plus 165 bp | 5/12/2028 | BRC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595313 | Nuveen Preferred Securities and Income Fund, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9417859 | USD SOFR plus 165 bp | 7/28/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763602 | PIMCO Income Fund, Institutional Class\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18993996 | USD FED plus 165 bp | 6/30/2026 | CIBC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993569 | PIMCO Preferred and Capital Securities Fund, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18759486 | USD SOFR plus 165 bp | 7/21/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133652 |
|  |  |  |  |  | Total: | $628729 |
|  | BRC - Barclays Capital |  |  |  |  |  |
|  | CIBC - Canadian Imperial Bank of Commerce |  |  |  |  |  |
|  | FED - Federal Funds Effective Rate |  |  |  |  |  |
|  | FROB - Federal Reserve Overnight Bank Funding Rate |  |  |  |  |  |
|  | NGFP - Nomura Global Financial Products, Inc. |  |  |  |  |  |
|  | SOFR - Secured Overnight Financing Rate |  |  |  |  |  |
| <sup>(1)</sup> | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. |  |  |
|  | \* Swap contract reset at June 30, 2025. |  |  |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SPECTRUM ACTIVE ADVANTAGE FUND** | **SPECTRUM ACTIVE ADVANTAGE FUND** | **SPECTRUM ACTIVE ADVANTAGE FUND** | **SPECTRUM ACTIVE ADVANTAGE FUND** | **SPECTRUM ACTIVE ADVANTAGE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 20.5%** |  |  |  |
|  | **EQUITY - 20.5%** |  |  |  |
| 2700 | Invesco S&P 500 Equal Weight ETF |  |  | &nbsp;&nbsp;&nbsp;$490698 |
| 2700 | Vanguard S&P 500 ETF |  |  | &nbsp;&nbsp;&nbsp;1533681 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;2024379 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $1,864,520)** |  |  | &nbsp;&nbsp;&nbsp;2024379 |
|  | **OPEN-END FUNDS — 64.0%** |  |  |  |
|  | **ALTERNATIVE - 64.0%** |  |  |  |
| 251206 | AQR Equity Market Neutral Fund, Class R6 |  |  | &nbsp;&nbsp;&nbsp;2896400 |
| 129975 | AQR Long-Short Equity Fund, Class R6 |  |  | &nbsp;&nbsp;&nbsp;2474733 |
| 44568 | Federated Hermes MDT Market Neutral Fund, Institutional Shares |  |  | &nbsp;&nbsp;&nbsp;960446 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;6331579 |
|  | **TOTAL OPEN-END FUNDS (Cost $5,980,050)** |  |  | &nbsp;&nbsp;&nbsp;6331579 |
|  | **SHORT-TERM INVESTMENTS — 9.7%** |  |  |  |
|  | **MONEY MARKET FUNDS - 9.7%** |  |  |  |
| 477842 | Fidelity Government Portfolio, Class I, 4.18%<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp;477842 |
| 477843 | First American Government Obligations Fund, Class Z, 4.17%<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp;477843 |
|  | **TOTAL MONEY MARKET FUNDS (Cost $955,685)** | **TOTAL MONEY MARKET FUNDS (Cost $955,685)** |  | &nbsp;&nbsp;&nbsp;955685 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $955,685)** | **TOTAL SHORT-TERM INVESTMENTS (Cost $955,685)** |  | 955685 |
|  | **TOTAL INVESTMENTS - 94.2% (Cost $8,800,255)** |  |  | &nbsp;&nbsp;&nbsp;$9311643 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 5.8%** |  |  | &nbsp;&nbsp;&nbsp;571880 |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp;&nbsp;$9883523 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount** | **Unrealized Appreciation** |
| 3 | CME E-Mini Standard & Poor's 500 Index Futures | 09/22/2025 | &nbsp;&nbsp;&nbsp;$938063 | &nbsp;&nbsp;&nbsp;$33158 |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  |  |

---

---

| |
|:---|
| **SPECTRUM ACTIVE ADVANTAGE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |  |  |  |  |  |
| Number of Shares | Reference Entity | Notional Amount at June 30, 2025 | Interest Rate Payable <sup>(1)</sup> | Termination Date | Counterparty | Unrealized Appreciation (Depreciation) |
| Long Position: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | Consumer Discretionary Select Sector SPDR Fund | $499859 | USD FROB plus 55 bp | 4/27/2026 | NGFP | $(2916) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200 | Invesco S&P 500 Equal Weight ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027656 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | Invesco S&P 500 High Beta ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497403 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | iShares MSCI USA Momentum Factor ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985312 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25972 |
|  |  |  |  |  |  | $97105 |
|  | NGFP - Nomura Global Financial Products, Inc. |  |  |  |  |  |
|  | FROB - Federal Reserve Overnight Bank Funding Rate |  |  |  |  |  |
| <sup>(1)</sup> | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. |  |

---

<sup>(a)</sup> Rate disclosed is the seven-day effective yield as of June 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SPECTRUM UNCONSTRAINED FUND** | **SPECTRUM UNCONSTRAINED FUND** | **SPECTRUM UNCONSTRAINED FUND** | **SPECTRUM UNCONSTRAINED FUND** | **SPECTRUM UNCONSTRAINED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **OPEN-END FUNDS — 56.1%** |  |  |  |
|  | **ALTERNATIVE - 26.3%** |  |  |  |
| 136001 | AQR Equity Market Neutral Fund, Class R6 |  |  | &nbsp;&nbsp;&nbsp; $1568092 |
|  | **FIXED INCOME - 29.8%** |  |  |  |
| 163150 | American Beacon Developing World Income Fund, Class R5 |  |  | &nbsp;&nbsp;&nbsp; 1184472 |
| 27409 | North Square Preferred And Income Securities Fund, Class I |  |  | &nbsp;&nbsp;&nbsp; 589572 |
|  |  |  |  | &nbsp;&nbsp; 1774044 |
|  | **TOTAL OPEN-END FUNDS (Cost $3,242,463)** |  |  | &nbsp;&nbsp; 3342136 |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **U.S. GOVERNMENT & AGENCIES — 0.9%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **0.9%** |  |  |  |
| 52000 | United States Treasury Bill<sup>(a)</sup> | 4.3000 | &nbsp;&nbsp;&nbsp;08/21/25 | 51684 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $51,692)** |  |  | 51684 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 14.1%** |  |  |  |
|  | **MONEY MARKET FUNDS - 14.1%** |  |  |  |
| 420495 | Fidelity Government Portfolio, Class I, 4.18%<sup>(b)</sup> |  |  | &nbsp;&nbsp;&nbsp; 420495 |
| 420495 | First American Government Obligations Fund Class Z, 4.17%<sup>(b)</sup> |  |  | &nbsp;&nbsp;&nbsp; 420495 |
|  | **TOTAL MONEY MARKET FUNDS (Cost $840,990)** | **TOTAL MONEY MARKET FUNDS (Cost $840,990)** |  | &nbsp;&nbsp; 840990 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $840,990)** | **TOTAL SHORT-TERM INVESTMENTS (Cost $840,990)** |  | 840990 |
|  | **TOTAL INVESTMENTS - 71.1% (Cost $4,135,145)** |  |  | &nbsp;&nbsp;&nbsp; $4234810 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 28.9%** |  |  | &nbsp;&nbsp; 1720032 |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $5954842 |

---

<sup>(a)</sup> Zero coupon bond; rate disclosed is the effective yield as of June 30 , 2025. <br> <sup>(c)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |  |  |  |  |  |
| Number of Shares | Reference Entity | Notional Amount at June 30, 2025 | Interest Rate Payable <sup>(1)</sup> | Termination Date | Counterparty | Unrealized Appreciation |
| Long Position: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61637 | AQR Long-Short Equity Fund, Class R6 | $1173560 | USD SOFR plus 165 bp | 7/7/2026 | NGFP | $8123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73900 | Invesco Senior Loan ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545988 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36400 | iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935660 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57500 | iShares Preferred and Income Securities ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764100 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63088 | Nuveen Floating Rate Income Fund Class R6\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143154 | USD SOFR plus 165 bp | 5/12/2028 | BRC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107880 | PIMCO Income Fund Institutional Class\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161867 | USD FED plus 165 bp | 6/30/2026 | CIBC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10700 | SPDR Bloomberg Convertible Securities ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884462 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23300 | VanEck High Yield Muni ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169893 | USD FROB plus 55 bp | 4/27/2026 | NGFP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893 |
|  |  |  |  |  |  | $84719 |
|  | CIBC - Canadian Imperial Bank of Commerce |  |  |  |  |  |
|  | FED - Federal Funds Effective Rate |  |  |  |  |  |
|  | FROB - Federal Reserve Overnight Bank Funding Rate |  |  |  |  |  |
|  | NGFP - Nomura Global Financial Products, Inc. |  |  |  |  |  |
|  | SOFR - Secured Overnight Financing Rate |  |  |  |  |  |
| <sup>(1)</sup> | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. | Interest rate is based upon predetermined notional amounts, which may be a multiple of the number of shares plus a specified spread. |  |
|  | \* Swap contract reset at June 30, 2025. |  |  |  |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Advisors Preferred Trust

- **b. Investment Company Act file number:** 811-22756

- **c. CIK number of Registrant:** 0001556505

- **d. LEI of Registrant:** 549300VBL7C31PY2VZ37

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

  - **Street Address 1:** 1445 RESEARCH BOULEVARD

  - **City:** ROCKVILLE

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20850

  - **Telephone number:** 240-223-1998

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

- **a. Name of Series:** Spectrum Low Volatility Fund

- **b. EDGAR series identifier (if any):** S000043121

- **c. LEI of Series:** 549300KECB5IIXYTMM56

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $456786838.80

**Total Liabilities:** $269459545.30

**Net Assets:** $187327293.50

**Cash Not Reported:** $49030005.17

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133465 | -0.17%               | 0.80%                | 1.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1227638.89             | $322490.11                                 |
| Month 2  | $57253.64                | $1029435.59                                |
| Month 3  | $962106.95               | $-279544.09                                |

**Designated Index Information**

- **Index Name:** ICE BofAML US High Yield Index

- **Index Identifier:** H0A0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                      | NUVEEN FLOATING RATE | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1555064 | NS      | $77753.17     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | BLACKROCK HGH YLD    | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   2640449 | NS      | $184831.46    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | BLACKROCK STRG INC   | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   2000000 | NS      | $280000.00    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Two Roads Shared Trust                   | HLBRK-STR IN-I       | CUSIP: 90214Q626<br>LEI: 549300REHU8QC2CK4V30 | Long             | EC               | RF                | US        |    962129 | NS      | $9409621.29   | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | ISHARES TR IBOXX HI  | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    236300 | NS      | $285923.00    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Nuveen Invt Tr Iii                       | NVN-H/Y INC-I        | CUSIP: 67066D739<br>LEI: 549300KN1Y12IJRVCT53 | Long             | EC               | RF                | US        |    531975 | NS      | $9485116.02   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust         | FID-MM GOVT-I        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  24931774 | PA      | $24931774.09  | 13.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Advisors Series Trust                    | MDL-MBS T/R-INS      | CUSIP: 00770X758<br>LEI: 2549003Z0J6URS6I4Y63 | Long             | EC               | RF                | US        |   1045296 | NS      | $9020905.92   | 4.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Portfolios IV                    | V/P-SEC INC-Y        | CUSIP: 92648H875<br>LEI: 25490054DPU07WNNLY79 | Long             | EC               | RF                | US        |    608604 | NS      | $5842602.31   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | PIMCO INC FND INST   | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1763602 | NS      | $193996.24    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | DIAMND HILL SH DU TO | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1881899 | NS      | $-75275.94    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Intrepid Capital Management Funds Trust  | INTREPID-INC-INS     | CUSIP: 461195703<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2169881 | NS      | $19485530.14  | 10.40%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | HOLBROOK INC FND CL  | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1969072 | NS      | $137835.05    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | PIMCO PREF CAPITAL?  | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1993569 | NS      | $159485.53    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | NUVEEN PREFERRED SEC | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    595313 | NS      | $17859.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | AQR-L/S EQTY-R6      | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    997333 | NS      | $289226.66    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | FIRST EAGLE HIGH INC | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   2257282 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | AQR EQUITY MARKET NE | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1303215 | NS      | $26064.29     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential Investment Portfolios Inc. 15 | PGIM HIGH YIELD-Q    | CUSIP: 74440Y884<br>LEI: 5493004GW6X6EIMPJD18 | Long             | EC               | RF                | US        |   6086164 | NS      | $29517895.83  | 15.76%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | CREDIT SUISSE STRG I | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1993637 | NS      | $139554.62    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Buffalo Funds                            | BUFF-HI YLD-INST     | CUSIP: 119530855<br>LEI: 2549004OPHDSAY1EO405 | Long             | EC               | RF                | US        |    881801 | NS      | $9426454.04   | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | AMERICAN HGH INC TRS | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1968912 | NS      | $393782.38    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | ISHARES FLEX INC ACT | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    176600 | NS      | $52097.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Axonic Funds                             | AXNC-STR INC-I       | CUSIP: 05465G101<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2122733 | NS      | $19062144.71  | 10.18%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Advisors Preferred Trust

**Signature:** Christine Casares

**Name of Signer:** Christine Casares

**Title:** Treasurer