# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001193125-26-056224
**Filing Date:** 2026-2
**Character Count:** 22409
**Document Hash:** 8b88c62cfd7c8e973760339eb14345dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-056224.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001193125-26-056224

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260218

**DATE AS OF CHANGE**: 20260218

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07959
- **FILM NUMBER:** 26645840

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 626-914-7235

**MAIL ADDRESS:**
- **STREET 1:** 615 E MICHIGAN STREET
- **STREET 2:** MK-WI-LC2
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Chase Growth Fund (Series ID: S000005073)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000013859 | Class N             | CHASX           |
| C000043306 | Institutional Class | CHAIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Chase Growth Fund** | **Chase Growth Fund** | **Chase Growth Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 94.3%** | **Shares** | **Value**  |
| **Asset Management - 1.6%** | **Asset Management - 1.6%** | |
| Affiliated Managers Group, Inc. | 5527 | $1593323 |
| **Computer Software - 2.1%** | **Computer Software - 2.1%** |  |
| Clearwater Analytics Holdings, Inc. - Class A <sup>(a)</sup> | 88830 | 2142580 |
| **Computer Software - Gaming - 2.1%** | **Computer Software - Gaming - 2.1%** |  |
| Electronic Arts, Inc. | 10439 | 2133001 |
| **Contract Manufacturing - 4.5%** | **Contract Manufacturing - 4.5%** |  |
| Celestica, Inc. <sup>(a)</sup> | 15100 | 4463711 |
| **Defense - 1.8%** | **Defense - 1.8%** |  |
| Huntington Ingalls Industries, Inc. | 5333 | 1813593 |
| **Drugs-Proprietary - 2.9%** | **Drugs-Proprietary - 2.9%** |  |
| AbbVie, Inc. | 12825 | 2930384 |
| **Electrical Equipment - 3.1%** | **Electrical Equipment - 3.1%** |  |
| Vertiv Holdings Co. - Class A | 18976 | 3074302 |
| **Electronics - 1.7%** | **Electronics - 1.7%** |  |
| Sanmina Corp. <sup>(a)</sup> | 11626 | 1744714 |
| **Energy/Integrated - 1.7%** | **Energy/Integrated - 1.7%** |  |
| Antero Midstream Corp. | 92858 | 1651944 |
| **Energy/Oil Service - 3.1%** | **Energy/Oil Service - 3.1%** |  |
| TechnipFMC PLC | 69365 | 3090904 |
| **Energy/Solar - 1.6%** | **Energy/Solar - 1.6%** |  |
| First Solar, Inc. <sup>(a)</sup> | 5922 | 1547004 |
| **Engineering/Construction - 4.2%** | **Engineering/Construction - 4.2%** |  |
| API Group Corp. <sup>(a)</sup> | 44703 | 1710337 |
| MasTec, Inc. <sup>(a)</sup> | 11183 | 2430848 |
|  |  | 4141185 |
| **Entertainment - 1.4%** | **Entertainment - 1.4%** |  |
| IMAX Corp. <sup>(a)</sup> | 37409 | 1382637 |
| **Finance/Banks - 15.1%** | **Finance/Banks - 15.1%** |  |
| Bank of New York Mellon Corp. | 33211 | 3855465 |
| Goldman Sachs Group, Inc. | 4112 | 3614448 |
| NatWest Group PLC  | 192548 | 3369590 |
| State Street Corp. | 16226 | 2093316 |
| Wells Fargo Co. | 22453 | 2092620 |
|  |  | 15025439 |
| **Financial Services - Diversified - 5.6%** | **Financial Services - Diversified - 5.6%** |  |
| American Express Co. | 6914 | 2557834 |
| Capital One Financial Corp. | 12436 | 3013989 |
|  |  | 5571823 |
| **Health Care Distribution - 3.2%** | **Health Care Distribution - 3.2%** |  |
| Cencora, Inc. | 4651 | 1570875 |
| McKesson Corp. | 2017 | 1654525 |
|  |  | 3225400 |
| **Internet Retail - 5.8%** | **Internet Retail - 5.8%** |  |
| Amazon.com, Inc. <sup>(a)</sup> | 11610 | 2679820 |
| eBay, Inc. | 35874 | 3124626 |
|  |  | 5804446 |
| **Internet Software & Services - 7.9%** | **Internet Software & Services - 7.9%** |  |
| Alphabet, Inc. - Class A | 18442 | 5772346 |
| Meta Platforms, Inc. - Class A | 3142 | 2074003 |
|  |  | 7846349 |
| **Metals & Mining - 1.7%** | **Metals & Mining - 1.7%** |  |
| Fortuna Mining Corp. <sup>(a)</sup> | 172785 | 1695021 |
| **Real Estate Operations - 1.6%** | **Real Estate Operations - 1.6%** |  |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 4746 | 1596887 |
| **Semiconductors - 11.9%** | **Semiconductors - 11.9%** |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 13688 | 2931422 |
| Broadcom, Inc. | 10355 | 3583866 |
| NVIDIA Corp. | 28804 | 5371946 |
|  |  | 11887234 |
| **Service Companies - 1.4%** | **Service Companies - 1.4%** |  |
| VSE Corp. | 8129 | 1404447 |
| **Steel - 6.1%** | **Steel - 6.1%** |  |
| Carpenter Technology Corp. | 9165 | 2885508 |
| Howmet Aerospace, Inc. | 15685 | 3215739 |
|  |  | 6101247 |
| **Utilities Electric/Gas - 2.2%** | **Utilities Electric/Gas - 2.2%** |  |
| National Fuel Gas Co. | 27305 | 2186038 |
| **TOTAL COMMON STOCKS** (Cost $56,195,018) | **TOTAL COMMON STOCKS** (Cost $56,195,018) | 94053613 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 5.3%** | **Shares** | **Value**  |
| Invesco Treasury Portfolio - Institutional Class, 3.64% <sup>(b)</sup> | 5260085 | 5260085 |
| **TOTAL MONEY MARKET FUNDS** (Cost $5,260,085) | **TOTAL MONEY MARKET FUNDS** (Cost $5,260,085) | 5260085 |
| **TOTAL INVESTMENTS - 99.6% (**Cost $61,455,103**)** | **TOTAL INVESTMENTS - 99.6% (**Cost $61,455,103**)** | 99313698 |
| Other Assets in Excess of Liabilities - 0.4% | Other Assets in Excess of Liabilities - 0.4% | 371966 |
| **TOTAL NET ASSETS - 100.0%** |  | $99685664 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of December 31, 2025.

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Chase Growth Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $94053613 | $– | $– | $94053613 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 5260085 | – | – | 5260085 |
| Total Investments | $99313698 | $– | $– | $99313698 |

---

## 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 Series Trust

- **b. Investment Company Act file number:** 811-07959

- **c. CIK number of Registrant:** 0001027596

- **d. LEI of Registrant:** 2549003Z0J6URS6I4Y63

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 626-914-7363

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

- **a. Name of Series:** Chase Growth Fund

- **b. EDGAR series identifier (if any):** S000005073

- **c. LEI of Series:** 254900O7MSU81OKQ4Y77

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $99367500.55

**Total Liabilities:** $158910.12

**Net Assets:** $99208590.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013859 | 5.52%                | 0.76%                | -0.48%               |
| Class ID C000043306 | 5.51%                | 0.74%                | -0.49%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2248619.73              | $2897548.35                                |
| Month 2  | $1061228.21              | $-323055.96                                |
| Month 3  | $0.00                    | $-444824.69                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AbbVie Inc                     | AbbVie Inc                        | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     12825 | NS      | $2930384.25   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp         | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      9165 | NS      | $2885508.60   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     11610 | NS      | $2679820.20   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co           | National Fuel Gas Co              | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     27305 | NS      | $2186038.30   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC              | NatWest Group PLC                 | CUSIP: 639057207<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |    192548 | NS      | $3369590.00   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp                 | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     16226 | NS      | $2093316.26   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortuna Mining Corp            | Fortuna Mining Corp               | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |    172785 | NS      | $1695020.85   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                     | MasTec Inc                        | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     11183 | NS      | $2430848.71   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora Inc                       | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      4651 | NS      | $1570875.25   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings  | Clearwater Analytics Holdings Inc | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88830 | NS      | $2142579.60   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3142 | NS      | $2074002.78   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar Inc                   | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      5922 | NS      | $1547004.06   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corp                      | IMAX Corp                         | CUSIP: 45245E109<br>LEI: 894500GS1ESLAPZCEI74 | Long             | EC               | CORP              | CA        |     37409 | NS      | $1382636.64   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                     | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2017 | NS      | $1654524.93   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     28804 | NS      | $5371946.00   | 5.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio     | Invesco Treasury Portfolio        | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |   5260085 | NS      | $5260084.69   | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                  | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     22453 | NS      | $2092619.60   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     10355 | NS      | $3583865.50   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc                  | Celestica Inc                     | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |     15100 | NS      | $4463711.00   | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The       | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      4112 | NS      | $3614448.00   | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                   | Sanmina Corp                      | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     11626 | NS      | $1744713.82   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                    | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     69365 | NS      | $3090904.40   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                       | VSE Corp                          | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |      8129 | NS      | $1404447.33   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     13688 | NS      | $2931422.08   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp          | Antero Midstream Corp             | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92858 | NS      | $1651943.82   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/T | Bank of New York Mellon Corp/The  | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     33211 | NS      | $3855464.99   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp     | Capital One Financial Corp        | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     12436 | NS      | $3013988.96   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts Inc               | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     10439 | NS      | $2133000.87   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries  | Huntington Ingalls Industries Inc | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      5333 | NS      | $1813593.31   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                 | API Group Corp                    | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |     44703 | NS      | $1710336.78   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc  | Affiliated Managers Group Inc     | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      5527 | NS      | $1593323.56   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     18442 | NS      | $5772346.00   | 5.82%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co            | American Express Co               | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      6914 | NS      | $2557834.30   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay Inc                          | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     35874 | NS      | $3124625.40   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc           | Howmet Aerospace Inc              | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     15685 | NS      | $3215738.70   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle Inc            | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      4746 | NS      | $1596886.62   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     18976 | NS      | $3074301.76   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Kevin Hayden

**Name of Signer:** Advisors Series Trust

**Title:** Treasurer & Vice President