# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-26-010117
**Filing Date:** 2026-6
**Character Count:** 20741
**Document Hash:** cf28d41f0e9631691d55f52cfb5c2dc3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-010117.hdr.sgml**: 20260629

**ACCESSION NUMBER**: 0000910472-26-010117

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260629

**DATE AS OF CHANGE**: 20260629

**PERIOD START**: 20261031

**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:** 261132734

**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

### SMI Multi-Strategy Fund (Series ID: S000039947)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000123869 | SMI Multi-Strategy Fund | SMILX           |

## 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:** SMI MULTI-STRATEGY FUND

- **b. EDGAR series identifier (if any):** S000039947

- **c. LEI of Series:** 54930025EQMP6DCX0571

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $60972194.21

**Total Liabilities:** $2227419.61

**Net Assets:** $58744774.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000123869 | 3.42%                | -5.76%               | 6.92%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $292325.53               | $1656589.91                                |
| Month 2  | $50336.27                | $-3462793.76                               |
| Month 3  | $377145.54               | $3507590.96                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ISHARES TRUST                                                       | iShares iBoxx $ Investment Grade Corporate Bond ETF             | CUSIP: 464287242<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      5790 | NS      | $630241.50    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB STRATEGIC TRUST                                              | Schwab International Equity ETF                                 | CUSIP: 808524805<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     17330 | NS      | $460284.80    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB STRATEGIC TRUST                                              | Schwab US TIPS ETF                                              | CUSIP: 808524870<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     11790 | NS      | $316797.30    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES INC                                                         | iShares MSCI Emerging Markets ex China ETF                      | CUSIP: 46434G764<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     32340 | NS      | $2944557.00   | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ETF OPPORTUNITIES TRUST                                             | SMI 3Fourteen Full-Cycle Trend ETF                              | CUSIP: 26923N512<br>LEI: 549300FWST5041130Z58 | Long             | EC               | RF                | US        |    228910 | NS      | $6205704.32   | 10.56%            |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Utilities Select Sector SPDR Fund                               | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      8450 | NS      | $395882.50    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TRUST                                                       | iShares J.P. Morgan USD Emerging Markets Bond ETF               | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      4480 | NS      | $429184.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Consumer Discretionary Select Sector SPDR Fund                  | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      1680 | NS      | $198828.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lord Abbett Develo                                                  | Lord Abbett Developing Growth Fund, Inc. Class I                | CUSIP: 544006505<br>LEI: N/A                  | Long             | EC               | RF                | US        |       100 | NS      | $3970.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR SERIES TRUST                                                   | SPDR S&P Metals & Mining ETF                                    | CUSIP: 78464A755<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     30170 | NS      | $3582084.10   | 6.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VANGUARD INDEX FUNDS                                                | Vanguard Small-Cap ETF                                          | CUSIP: 922908751<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      1480 | NS      | $420897.20    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Health Care Select Sector SPDR Fund                             | CUSIP: 81369Y209<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      1090 | NS      | $159129.10    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO QQQ TRUST, SERIES 1                                         | Invesco QQQ Trust Series 1                                      | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |      2870 | NS      | $1916413.80   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR SERIES TRUST                                                   | SPDR Bloomberg 1-3 Month T-Bill ETF USD CLASS                   | CUSIP: 78468R663<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      1160 | NS      | $106302.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY MELLON ETF TRUST                                                | BNY Mellon US Large Cap Core Equity ETF                         | CUSIP: 09661T107<br>LEI: 549300E2C8EQYJ7B0H81 | Long             | EC               | RF                | US        |     28170 | NS      | $3869712.90   | 6.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Financial Select Sector SPDR Fund                               | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      4200 | NS      | $218946.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Consumer Staples Select Sector SPDR Fund                        | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      1230 | NS      | $103701.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB STRATEGIC TRUST                                              | Schwab Long-Term U.S. Treasury ETF                              | CUSIP: 808524680<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     23500 | NS      | $730615.00    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMPLIFY EXCHANGE TRADED FUNDS                                      | Simplify DBi CTA Managed Futures Index ETF USD Class            | CUSIP: 82889N210<br>LEI: 549300LDDEMEUCZQEO55 | Long             | EC               | RF                | US        |     23940 | NS      | $615497.40    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TRUST                                                     | ProShares S&P 500 Dividend Aristocrats ETF                      | CUSIP: 74348A467<br>LEI: 5493005D9DS7C1P5AM59 | Long             | EC               | RF                | US        |      3780 | NS      | $409752.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| USCF ETF TRUST                                                      | USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund         | CUSIP: 90290T809<br>LEI: 549300MH2TWHBRNV2U91 | Long             | EC               | RF                | US        |    112090 | NS      | $3199048.60   | 5.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SPROTT PHYSICAL GOLD TRUST                                          | Sprott Physical Gold Trust USD Class                            | CUSIP: 85207H104<br>LEI: N/A                  | Long             | EC               | RF                | CA        |    142880 | NS      | $5003657.60   | 8.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AEGIS FUNDS (THE)                                                   | Aegis Value Fund, Inc. Class I                                  | CUSIP: 00761L102<br>LEI: 549300XSJEOGN3MJXQ62 | Long             | EC               | RF                | US        |     44639 | NS      | $3155119.65   | 5.37%             |  |  |  | No            |                  1 | On Loan: No      |
| VANGUARD WORLD FUND                                                 | Vanguard Energy ETF                                             | CUSIP: 92204A306<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |      1260 | NS      | $213670.80    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| WASATCH FUNDS TRUST                                                 | Wasatch International Growth Fund Investor Class                | CUSIP: 936793405<br>LEI: 549300B3CBVFTLZDYP46 | Long             | EC               | RF                | US        |       100 | NS      | $1539.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST TRUST EXCHANGE-TRADED ALPHADEX FUND II                        | First Trust Developed Markets ex-US AlphaDEX Fund USD Class     | CUSIP: 33737J174<br>LEI: 549300HROUDUV84QFV64 | Long             | EC               | RF                | US        |     26550 | NS      | $2523335.90   | 4.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN TEMPLETON ETF TRUST                                        | Franklin FTSE Europe ETF                                        | CUSIP: 35473P652<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |      5370 | NS      | $207443.10    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Energy Select Sector SPDR Fund                                  | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     10400 | NS      | $620360.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY COLCHESTER STREET TRUST                                    | Fidelity Investments Money Market Funds  - Government Portfolio | CUSIP: 31607A703<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |     82623 | PA      | $82623.44     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Real Estate Select Sector SPDR Fund                             | CUSIP: 81369Y860<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      4820 | NS      | $214008.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TRUST                                                       | iShares Russell 2000 Value ETF                                  | CUSIP: 464287630<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     11870 | NS      | $2465992.50   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ETF OPPORTUNITIES TRUST                                             | SMI 3Fourteen REAL Asset Allocation ETF                         | CUSIP: 26923N397<br>LEI: 549300FWST5041130Z58 | Long             | EC               | RF                | US        |    133380 | NS      | $3933376.20   | 6.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TRUST                                                       | iShares Russell 1000 Value ETF                                  | CUSIP: 464287598<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     29070 | NS      | $6722437.50   | 11.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Needham Funds Inc                                                   | Needham Small Cap Growth Fund                                   | CUSIP: 63983V605<br>LEI: 549300I20FS2UEMBPJ54 | Long             | EC               | RF                | US        |     37118 | NS      | $1198541.51   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAYSCALE BITCOIN MINI TRUST                                        | Grayscale Bitcoin Mini Trust ETF                                | CUSIP: 389930207<br>LEI: 529900WHTNX5LZCNWB27 | Long             | EC               | RF                | US        |      5970 | NS      | $201845.70    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TRUST                                                       | iShares MSCI EAFE ETF                                           | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     19650 | NS      | $2010588.00   | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMBRIA ETF TRUST                                                   | Cambria Global Value ETF                                        | CUSIP: 132061409<br>LEI: 254900AGNELEKCKAOK33 | Long             | EC               | RF                | US        |     37570 | NS      | $1324342.50   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Communication Services Select Sector SPDR Fund                  | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      1620 | NS      | $188746.20    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Materials Select Sector SPDR Fund                               | CUSIP: 81369Y100<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       740 | NS      | $38087.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TRUST                                                       | iShares Core U.S. REIT ETF                                      | CUSIP: 464288521<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      1860 | NS      | $120137.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) | Invesco International Small-Mid Company Fund Class Y            | CUSIP: 00900W530<br>LEI: 549300CGSTEJJ7H1ET84 | Long             | EC               | RF                | US        |       100 | NS      | $3516.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Technology Select Sector SPDR Fund                              | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      4230 | NS      | $674685.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN TEMPLETON ETF TRUST                                        | Franklin FTSE Japan ETF                                         | CUSIP: 35473P744<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |      5360 | NS      | $204108.80    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TRUST (THE)                                      | Industrial Select Sector SPDR Fund                              | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       960 | NS      | $167596.80    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB STRATEGIC TRUST                                              | Schwab High Yield Bond ETF                                      | CUSIP: 808524631<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     24070 | NS      | $632800.30    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Valued Advisers Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer