# EDGAR Filing Document

**Accession Number:** 0001199046
**File Stem:** 0000910472-25-003913
**Filing Date:** 2025-11
**Character Count:** 24337
**Document Hash:** a6bae06fe90d7ced6b0012353d7c6e1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-003913.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000910472-25-003913

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UNIFIED SERIES TRUST
- **CENTRAL INDEX KEY:** 0001199046

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21237
- **FILM NUMBER:** 251515597

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-346-3324

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### ABSOLUTE FLEXIBLE FUND (Series ID: S000081740)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000244725 | INSTITUTIONAL SHARES | FLXIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Unified Series Trust

- **b. Investment Company Act file number:** 811-21237

- **c. CIK number of Registrant:** 0001199046

- **d. LEI of Registrant:** 549300NFHRL589EP7U13

- **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:** ABSOLUTE FLEXIBLE FUND

- **b. EDGAR series identifier (if any):** S000081740

- **c. LEI of Series:** 5493000NKQLZS3ZGQJ91

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $36806454.50

**Total Liabilities:** $5370145.96

**Net Assets:** $31436308.54

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244725 | 1.14%                | 1.96%                | 1.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-65676.14               | $350495.30                                 |
| Month 2  | $130956.83               | $394568.90                                 |
| Month 3  | $87000.83                | $408186.45                                 |

**Designated Index Information**

- **Index Name:** ICE BofA US Convertible Index TRexTC

- **Index Identifier:** VXA0-USD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Magnite Inc                           | Magnite, Inc.                            | CUSIP: 55955DAB6<br>LEI: 54930018FR2YX1HHSB02 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $977300.00    | 3.11%             | 2026-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| NCL Corporation Ltd.                  | NCL Corp Ltd.                            | CUSIP: 62886HBW0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506875.00    | 1.61%             | 2030-09-15      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Lumentum Holdings Inc.                | Lumentum Holdings, Inc.                  | CUSIP: 55024UAD1<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1686250.00   | 5.36%             | 2026-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Blackline Inc                         | Blackline, Inc.                          | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-106200.00   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store Inc. | Cracker Barrel Old Country Store, Inc.   | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Short            | EC               | CORP              | US        |     -5000 | NS      | $-220300.00   | -0.70%            |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                          | Terawulf Inc                             | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Short            | EC               | CORP              | US        |    -12000 | NS      | $-137040.00   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                           | Workvia, Inc.                            | CUSIP: 98139AAD7<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988750.00    | 3.15%             | 2028-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Cohu Inc                              | Cohu Inc                                 | CUSIP: 192576AA4<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512641.27    | 1.63%             | 2031-01-15      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Datadog Inc                           | Datadog, Inc.                            | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Short            | EC               | CORP              | US        |      -460 | NS      | $-65504.00    | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Norwegian Cruise Line Holdings Ltd    | Norwegian Cruise Lines Holdings Ltd.     | CUSIP: G66721104<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |     -3000 | NS      | $-73890.00    | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Pagerduty Inc                         | PagerDuty Inc                            | CUSIP: 69553PAD2<br>LEI: 549300U1SB749EDAGH21 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982000.00    | 3.12%             | 2028-10-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| LCI Industries                        | LCI Industries                           | CUSIP: 501812AB7<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $961500.00    | 3.06%             | 2026-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Etsy Inc                              | Etsy, Inc.                               | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Short            | EC               | CORP              | US        |     -2200 | NS      | $-146058.00   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc.                  | AST SpaceMobile, Inc.                    | CUSIP: 00217DAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1041500.00   | 3.31%             | 2032-10-15      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Upwork Inc                            | Upwork, Inc.                             | CUSIP: 91688FAB0<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1213331.15   | 3.86%             | 2026-08-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| BlackSky Technology Inc               | BlackSky Technology, Inc.                | CUSIP: 09263BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $565000.00    | 1.80%             | 2033-08-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| IMAX Corporation                      | IMAX Corp.                               | CUSIP: 45245E109<br>LEI: 5493002KS2T1Q0X7VZ21 | Short            | EC               | CORP              | CA        |    -10000 | NS      | $-327500.00   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Bandwidth Inc                         | Bandwidth, Inc.                          | CUSIP: 05988JAD5<br>LEI: 549300QC70JB7MUGXM66 | Long             | DBT              | CORP              | US        |    600000 | PA      | $512400.00    | 1.63%             | 2028-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Bentley Systems Incorporated          | Bentley Systems, Inc.                    | CUSIP: 08265TAD1<br>LEI: 549300WVEHPGE0Z56F71 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $944000.00    | 3.00%             | 2027-07-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Inotiv Inc.                           | Inotiv, Inc.                             | CUSIP: 45783QAB6<br>LEI: 549300FH5Z13X0Q5SK81 | Long             | DBT              | CORP              | US        |    500000 | PA      | $122500.00    | 0.39%             | 2027-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Pagerduty Inc                         | PagerDuty, Inc.                          | CUSIP: 69553P100<br>LEI: 549300U1SB749EDAGH21 | Short            | EC               | CORP              | US        |     -8000 | NS      | $-132160.00   | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corporation                  | Repligen Corp.                           | CUSIP: 759916AD1<br>LEI: 54930006QJ0T5AUO1E71 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008000.00   | 3.21%             | 2028-12-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.             | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |       565 | PA      | $565.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira Biosciences Inc                | Pacira Pharmaceuticals, Inc./DE          | CUSIP: 695127100<br>LEI: 549300P56LERYBDHCF69 | Short            | EC               | CORP              | US        |     -4400 | NS      | $-113388.00   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                | Lumentum Holdings, Inc.                  | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Short            | EC               | CORP              | US        |     -6500 | NS      | $-1057615.00  | -3.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                           | Xometry, Inc.                            | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Short            | EC               | CORP              | US        |     -6472 | NS      | $-352529.84   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc                    | Unity Software, Inc.                     | CUSIP: 91332UAG6<br>LEI: 549300D1ESJMGNQNG432 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1353125.00   | 4.30%             | 2030-03-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Etsy Inc                              | Etsy, Inc.                               | CUSIP: 29786AAP1<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $546250.00    | 1.74%             | 2030-06-15      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global Inc                   | Coinbase Global Inc                      | CUSIP: 19260QAG2<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    500000 | PA      | $533893.72    | 1.70%             | 2029-10-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Gamestop Corp                         | GameStop Corp.                           | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Short            | EC               | CORP              | US        |    -11500 | NS      | $-313720.00   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store Inc. | Cracker Barrel Old Country Store, Inc.   | CUSIP: 22410JAC0<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $925000.00    | 2.94%             | 2030-09-15      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Parsons Corporation                   | Parsons Corp.                            | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-248760.00   | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| BlackSky Technology Inc               | BlackSky Technology, Inc.                | CUSIP: 09263B207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4000 | NS      | $-80600.00    | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corporation                      | IMAX Corp                                | CUSIP: 45245EAJ8<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1176000.00   | 3.74%             | 2026-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Unity Software Inc                    | Unity Software, Inc.                     | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Short            | EC               | CORP              | US        |    -15093 | NS      | $-604323.72   | -1.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Incorporated          | Bentley Systems, Inc.                    | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-102960.00   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| Gamestop Corp                         | GameStop Corp.                           | CUSIP: 36467WAF6<br>LEI: 549300505KLOET039L77 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1144500.00   | 3.64%             | 2032-06-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Cohu Inc                              | Cohu, Inc.                               | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Short            | EC               | CORP              | US        |     -8954 | NS      | $-182034.82   | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Pacira Biosciences Inc                | Pacira BioSciences, Inc.                 | CUSIP: 695127AJ9<br>LEI: 549300P56LERYBDHCF69 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018493.67   | 3.24%             | 2029-05-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Blackline Inc                         | BlackLine, Inc.                          | CUSIP: 09239BAF6<br>LEI: 529900P9N7PK9LV5EK56 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1040909.90   | 3.31%             | 2029-06-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Upwork Inc                            | Upwork, Inc.                             | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-18570.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.                | ON Semiconductor Corporation             | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Short            | EC               | CORP              | US        |     -2800 | NS      | $-138068.00   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Fiverr International Ltd              | Fiverr International Ltd                 | CUSIP: 33835LAA3<br>LEI: 549300Z8OREY6THCPF67 | Long             | DBT              | CORP              | IL        |   1000000 | PA      | $1000200.00   | 3.18%             | 2025-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Terawulf Inc                          | TERAWULF INC                             | CUSIP: 88080TAC8<br>LEI: 254900CVMW1SX2T78A64 | Long             | DBT              | CORP              | US        |    500000 | PA      | $597500.00    | 1.90%             | 2031-09-01      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Accuray Inc.                          | Accuray, Inc.                            | CUSIP: 004397AK1<br>LEI: 549300G28LY4TZKZJG51 | Long             | DBT              | CORP              | US        |    450000 | PA      | $432046.11    | 1.37%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Repligen Corporation                  | Repligen Corp.                           | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Short            | EC               | CORP              | US        |     -1500 | NS      | $-200505.00   | -0.64%            |  |  |  | No            |                  1 | On Loan: No      |
| Fastly Inc.                           | Fastly, Inc.                             | CUSIP: 31188VAC4<br>LEI: 549300E2FZC83FJ3H565 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1062522.34   | 3.38%             | 2028-06-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| AST SpaceMobile Inc.                  | AST SpaceMobile Inc                      | CUSIP: 00217D100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5829 | NS      | $-286087.32   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc                 | Penguin Solutions, Inc.                  | CUSIP: 706915105<br>LEI: 529900RDGHQY8XKXPN14 | Short            | EC               | CORP              | US        |    -13000 | NS      | $-341640.00   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corporation                   | Parsons Corp.                            | CUSIP: 70202LAD4<br>LEI: 549300ZXH0VRBSEPX752 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1142500.00   | 3.63%             | 2029-03-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                | ON Semiconductor Corp.                   | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $925171.10    | 2.94%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Xometry Inc                           | Xometry, Inc.                            | CUSIP: 98423FAB5<br>LEI: 5493006JFRGU7YRRXE44 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1207825.09   | 3.84%             | 2027-02-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Datadog Inc                           | Datadog, Inc.                            | CUSIP: 23804LAC7<br>LEI: 549300F6JNO0KRPO1K63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992500.00    | 3.16%             | 2029-12-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Penguin Solutions Inc                 | Penguin Solutions, Inc                   | CUSIP: 83205YAE4<br>LEI: 529900RDGHQY8XKXPN14 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1192500.00   | 3.79%             | 2030-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Inotiv Inc.                           | Inotiv, Inc.                             | CUSIP: 45783Q100<br>LEI: 549300FH5Z13X0Q5SK81 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-1450.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Itron, Inc.                           | Itron, Inc.                              | CUSIP: 465741AN6<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1058500.00   | 3.37%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rapid7 Inc.                           | Rapid7 Inc                               | CUSIP: 753422AF1<br>LEI: 549300GNVG5D60KEYN14 | Long             | DBT              | CORP              | US        |   1123000 | PA      | $1053532.41   | 3.35%             | 2027-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** United Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller