# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0001752724-25-162660
**Filing Date:** 2025-6
**Character Count:** 18100
**Document Hash:** 3781911b209f2985a1a63e16a4276e6d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-162660.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-162660

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22208
- **FILM NUMBER:** 251089266

**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:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $52321200.89

**Total Liabilities:** $2439601.47

**Net Assets:** $49881599.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000123869 | -1.88%               | -3.36%               | 0.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $237227.07               | $-1214626.89                               |
| Month 2  | $183776.53               | $-1944368.03                               |
| Month 3  | $469470.13               | $-266199.83                                |

### 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        |      9110 | NS      | $983697.80    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | SCHWAB U.S. TIPS ETF                                            | CUSIP: 808524870<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     18250 | NS      | $489647.50    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Inc                                                         | iShares MSCI Emerging Markets ex China ETF                      | CUSIP: 46434G764<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |      1770 | NS      | $100429.80    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ETF Opportunities Trust                                             | SMI 3Fourteen Full-Cycle Trend ETF                              | CUSIP: 26923N512<br>LEI: 549300FWST5041130Z58 | Long             | EC               | RF                | US        |    412260 | NS      | $10438423.20  | 20.93%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | iShares JP Morgan USD Emerging Markets Bond ETF                 | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      6540 | NS      | $588338.40    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lord Abbett Develo                                                  | Lord Abbett Developing Growth Fund, Inc.                        | CUSIP: 544006505<br>LEI: N/A                  | Long             | EC               | RF                | US        |       100 | NS      | $2531.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                                                | Vanguard Small-Cap ETF                                          | CUSIP: 922908751<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |       490 | NS      | $105913.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Select Portfolios                                          | Fidelity Select Telecommunications Portfolio                    | CUSIP: 316390830<br>LEI: Z57125JG1LHEQKDYS630 | Long             | EC               | RF                | US        |     15867 | NS      | $894125.00    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1                                         | Invesco QQQ Trust Series 1                                      | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |      2270 | NS      | $1079316.90   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Inc                                                         | iShares MSCI Global Metals & Mining Producers ETF               | CUSIP: 46434G848<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |      2890 | NS      | $101612.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                                   | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF                    | CUSIP: 78468R663<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     46290 | NS      | $4245718.80   | 8.51%             |  |  |  | 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        |      2470 | NS      | $261326.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares Trust                                                     | ProShares Ultra Energy ETF                                      | CUSIP: 74347G705<br>LEI: 5493005D9DS7C1P5AM59 | Long             | EC               | RF                | US        |     17850 | NS      | $539427.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | Schwab Long-Term U.S. Treasury ETF                              | CUSIP: 808524680<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     12220 | NS      | $392139.80    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetics Mutual Funds Inc.                                          | Kinetics Market Opportunities Fund                              | CUSIP: 494613615<br>LEI: 254900Z4PTNUE2SN9529 | Long             | EC               | RF                | US        |      9216 | NS      | $791951.76    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Stoxx European Select Dividend Index Fund               | First Trust STOXX European Select Divdend Index Fund            | CUSIP: 33735T109<br>LEI: 549300HY3NFBU00W8S30 | Long             | EC               | RF                | US        |    114510 | NS      | $1640928.30   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares Trust                                                     | ProShares S&P 500 Dividend Aristocrats ETF                      | CUSIP: 74348A467<br>LEI: 5493005D9DS7C1P5AM59 | Long             | EC               | RF                | US        |      5010 | NS      | $491982.00    | 0.99%             |  |  |  | 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        |     24080 | NS      | $487379.20    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Physical Gold Trust                                          | Sprott Physical Gold Trust                                      | CUSIP: 85207H104<br>LEI: N/A                  | Long             | EC               | RF                | CA        |    207380 | NS      | $5213533.20   | 10.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Aegis Value Fd Inc                                                  | Aegis Value Fund, Inc.                                          | CUSIP: 00761L102<br>LEI: 549300XSJEOGN3MJXQ62 | Long             | EC               | RF                | US        |     50000 | NS      | $2014988.19   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund                                                 | Vanguard Energy ETF                                             | CUSIP: 92204A306<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |       860 | NS      | $96251.20     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Wasatch Funds Trust                                                 | Wasatch International Growth Fund                               | CUSIP: 936793405<br>LEI: 549300B3CBVFTLZDYP46 | Long             | EC               | RF                | US        |       100 | NS      | $2223.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Templeton ETF Trust                                        | Franklin FTSE Europe ETF                                        | CUSIP: 35473P652<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |      3210 | NS      | $104389.20    | 0.21%             |  |  |  | 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        |   1548900 | PA      | $1548900.06   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr S&P 500 Etf Trust                                              | SPDR S&P 500 ETF Trust                                          | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      2210 | NS      | $1225533.40   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Profunds                                                            | ProFunds Financials UltraSector ProFund                         | CUSIP: 743185399<br>LEI: 549300HM4OOUYSE5DP77 | Long             | EC               | RF                | US        |     23662 | NS      | $979148.37    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ETF Opportunities Trust                                             | SMI 3Fourteen REAL Asset Allocation ETF                         | CUSIP: 26923N397<br>LEI: 549300FWST5041130Z58 | Long             | EC               | RF                | US        |     99430 | NS      | $2400896.44   | 4.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetics Mutual Funds Inc.                                          | Kinetics Paradigm Fund                                          | CUSIP: 494613797<br>LEI: 254900Z4PTNUE2SN9529 | Long             | EC               | RF                | US        |      7889 | NS      | $1199810.68   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Grayscale Bitcoin Mini Trust ETF                                    | Grayscale Bitcoin Mini Trust ETF                                | CUSIP: 389930207<br>LEI: 529900WHTNX5LZCNWB27 | Long             | EC               | RF                | US        |      8230 | NS      | $343273.30    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | iShares MSCI EAFE ETF                                           | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     48200 | NS      | $4084950.00   | 8.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cambria ETF Trust                                                   | Cambria Global Value ETF                                        | CUSIP: 132061409<br>LEI: 254900AGNELEKCKAOK33 | Long             | EC               | RF                | US        |     64450 | NS      | $1649597.75   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Exchange Traded Fund Trust II                               | Invesco International BuyBack Achievers ETF                     | CUSIP: 46138E644<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |     15620 | NS      | $702275.20    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                                                      | Global X Defense Tech ETF                                       | CUSIP: 37960A529<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |     19910 | NS      | $1032333.50   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | ISHARES CORE US REIT ETF                                        | CUSIP: 464288521<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      1880 | NS      | $105167.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aim International Mutual Funds (Invesco International Mutual Funds) | Invesco Oppenheimer International Small-Mid Co Fnd              | CUSIP: 00900W530<br>LEI: 549300CGSTEJJ7H1ET84 | Long             | EC               | RF                | US        |       100 | NS      | $3905.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AQR Funds                                                           | AQR Diversifying Strategies Fund                                | CUSIP: 00191K351<br>LEI: 549300V0TAB4ICSX2404 | Long             | EC               | RF                | US        |     60828 | NS      | $788337.32    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Profunds                                                            | ProFunds Mobile Telecommunications UltraSector ProFund          | CUSIP: 743185282<br>LEI: 549300HM4OOUYSE5DP77 | Long             | EC               | RF                | US        |     20817 | NS      | $940738.44    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | Schwab High Yield Bond ETF                                      | CUSIP: 808524631<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     49270 | NS      | $1279541.90   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** Valued Advisers Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller