# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001193125-26-282251
**Filing Date:** 2026-6
**Character Count:** 33452
**Document Hash:** 47523416794ff46e631cc00c9aecbcab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-282251.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001193125-26-282251

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260731

**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:** 261119632

**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

### O'Shaughnessy Market Leaders Value Fund (Series ID: S000052915)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000166455 | Class I      | OFVIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **O'Shaughnessy Market Leaders Value Fund** | **O'Shaughnessy Market Leaders Value Fund** | **O'Shaughnessy Market Leaders Value Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** |
| **COMMON STOCKS - 99.4%** | **Shares**  | **Value**  |
| **Air Freight & Logistics - 1.9%** | **Air Freight & Logistics - 1.9%** | |
| United Parcel Service, Inc. - Class B | 48905 | $5320864 |
| **Automobile Components - 0.6%** | **Automobile Components - 0.6%** |  |
| Aptiv PLC <sup>(a)</sup> | 27663 | 1666972 |
| **Automobiles - 4.0%** | **Automobiles - 4.0%** |  |
| General Motors Co. | 144706 | 11126444 |
| **Beverages - 0.6%** | **Beverages - 0.6%** |  |
| Constellation Brands, Inc. - Class A | 9541 | 1493930 |
| **Broadline Retail - 3.0%** | **Broadline Retail - 3.0%** |  |
| eBay, Inc. | 80360 | 8315653 |
| **Building Products - 3.1%** | **Building Products - 3.1%** |  |
| Carlisle Companies, Inc. | 5973 | 2121968 |
| Carrier Global Corp. | 51449 | 3455830 |
| Johnson Controls International PLC | 21010 | 3068090 |
|  |  | 8645888 |
| **Capital Markets - 5.2%** | **Capital Markets - 5.2%** |  |
| Ameriprise Financial, Inc. | 2111 | 1002282 |
| Goldman Sachs Group, Inc. | 725 | 669733 |
| MSCI, Inc. | 1910 | 1129593 |
| Northern Trust Corp. | 36509 | 6072907 |
| State Street Corp. | 29275 | 4474391 |
| T. Rowe Price Group, Inc. | 11139 | 1145980 |
|  |  | 14494886 |
| **Chemicals - 0.6%** | **Chemicals - 0.6%** |  |
| CF Industries Holdings, Inc. | 12777 | 1586903 |
| **Commercial Banks - 12.2%** | **Commercial Banks - 12.2%** |  |
| Bank of America Corp. | 113501 | 6067764 |
| Citigroup, Inc. | 42530 | 5442989 |
| Citizens Financial Group, Inc. | 14585 | 948754 |
| M&T Bank Corp. | 37059 | 8102209 |
| Regions Financial Corp. | 134393 | 3836920 |
| Truist Financial Corp. | 104267 | 5369751 |
| Wells Fargo & Co. | 50012 | 4112487 |
|  |  | 33880874 |
| **Consumer Finance - 4.4%** | **Consumer Finance - 4.4%** |  |
| Synchrony Financial | 160640 | 12240768 |
| **Consumer Staples Distribution & Retail - 3.4%** | **Consumer Staples Distribution & Retail - 3.4%** |  |
| Dollar Tree, Inc. <sup>(a)</sup> | 35576 | 3454785 |
| Kroger Co. | 78265 | 5327499 |
| US Foods Holding Corp. <sup>(a)</sup> | 5730 | 535698 |
|  |  | 9317982 |
| **Diversified Telecommunication Services - 4.7%** | **Diversified Telecommunication Services - 4.7%** |  |
| AT&T, Inc. | 21946 | 573449 |
| Comcast Corp. - Class A | 294661 | 7967633 |
| Verizon Communications, Inc. | 95051 | 4565300 |
|  |  | 13106382 |
| **Electronic Equipment, Instruments & Components - 3.4%** | **Electronic Equipment, Instruments & Components - 3.4%** |  |
| Flex Ltd. <sup>(a)</sup> | 11836 | 1083586 |
| Jabil, Inc. | 24797 | 8368739 |
|  |  | 9452325 |
| **Energy Equipment & Services - 0.5%** | **Energy Equipment & Services - 0.5%** |  |
| Halliburton Co. | 33936 | 1435493 |
| **Financial Services - 0.9%** | **Financial Services - 0.9%** |  |
| Fidelity National Information Services, Inc. | 22958 | 1068236 |
| PayPal Holdings, Inc. | 29326 | 1470405 |
|  |  | 2538641 |
| **Food Products - 3.9%** | **Food Products - 3.9%** |  |
| General Mills, Inc. | 73571 | 2597792 |
| Kraft Heinz Co. | 366914 | 8314271 |
|  |  | 10912063 |
| **Health Care Providers & Services - 5.7%** | **Health Care Providers & Services - 5.7%** |  |
| Cigna Group | 14184 | 4121587 |
| HCA Holdings, Inc. | 25684 | 11158414 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 3172 | 561824 |
|  |  | 15841825 |
| **Household Durables - 4.1%** | **Household Durables - 4.1%** |  |
| DR Horton, Inc. | 55050 | 8469993 |
| NVR, Inc. <sup>(a)</sup> | 470 | 2968459 |
|  |  | 11438452 |
| **Insurance - 8.4%** | **Insurance - 8.4%** |  |
| Aflac, Inc. | 21154 | 2404575 |
| American International Group, Inc. | 48343 | 3616056 |
| MetLife, Inc. | 122935 | 9847094 |
| Principal Financial Group, Inc. | 56277 | 5678912 |
| Prudential Financial, Inc. | 17186 | 1686119 |
|  |  | 23232756 |
| **IT Services - 1.8%** | **IT Services - 1.8%** |  |
| Twilio, Inc. - Class A <sup>(a)</sup> | 15612 | 2311513 |
| VeriSign, Inc. | 10258 | 2755914 |
|  |  | 5067427 |
| **Media - 0.5%** | **Media - 0.5%** |  |
| Fox Corp. - Class A | 21868 | 1388399 |
| **Metals & Mining - 1.4%** | **Metals & Mining - 1.4%** |  |
| Reliance, Inc. | 10791 | 3911738 |
| **Oil, Gas & Consumable Fuels - 12.3%** | **Oil, Gas & Consumable Fuels - 12.3%** |  |
| Chevron Corp. | 20186 | 3902156 |
| ConocoPhillips | 13938 | 1753121 |
| Devon Energy Corp. | 71568 | 3676448 |
| EOG Resources, Inc. | 50144 | 7048742 |
| Exxon Mobil Corp. | 45776 | 7064610 |
| Marathon Petroleum Corp. | 19393 | 4815088 |
| Phillips 66 | 16926 | 3032293 |
| Valero Energy Corp. | 10793 | 2726096 |
|  |  | 34018554 |
| **Passenger Airlines - 0.5%** | **Passenger Airlines - 0.5%** |  |
| Southwest Airlines Co. | 33301 | 1262774 |
| **Pharmaceuticals - 2.2%** | **Pharmaceuticals - 2.2%** |  |
| Pfizer, Inc. | 169106 | 4515130 |
| Zoetis, Inc. | 14355 | 1650395 |
|  |  | 6165525 |
| **Technology Hardware, Storage & Peripherals - 1.0%** | **Technology Hardware, Storage & Peripherals - 1.0%** |  |
| HP, Inc. | 127251 | 2654456 |
| **Textiles, Apparel & Luxury Goods - 4.1%** | **Textiles, Apparel & Luxury Goods - 4.1%** |  |
| Tapestry, Inc. | 78816 | 11431473 |
| **Tobacco - 5.0%** | **Tobacco - 5.0%** |  |
| Altria Group, Inc. | 191979 | 13947274 |
| **TOTAL COMMON STOCKS** (Cost $233,468,683) | **TOTAL COMMON STOCKS** (Cost $233,468,683) | 275896721 |
| **TOTAL INVESTMENTS - 99.4% (**Cost $233,468,683**)** | **TOTAL INVESTMENTS - 99.4% (**Cost $233,468,683**)** | 275896721 |
| Other Assets in Excess of Liabilities - 0.6% | Other Assets in Excess of Liabilities - 0.6% | 1562235 |
| **TOTAL NET ASSETS - 100.0%** |  | $277458956 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

------

#### Summary of Fair Value Disclosure as of April 30, 2026 (Unaudited)
O'Shaughnessy Market Leaders Value 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 April 30, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $275896721 | $– | $– | $275896721 |
| Total Investments | $275896721 | $– | $– | $275896721 |

---

## 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:** 52990049R7AUMMLE0J29

- **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:** O'Shaughnessy Market Leaders Value Fund

- **b. EDGAR series identifier (if any):** S000052915

- **c. LEI of Series:** 549300URKRCK5Q8UNZ36

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

- **a. Date of fiscal year-end:** 2026-07-31

- **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:** $277723210.36

**Total Liabilities:** $191066.74

**Net Assets:** $277532143.62

**Cash Not Reported:** $1644318.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000166455 | 2.58%                | -2.11%               | 5.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1876090.04              | $4485301.20                                |
| Month 2  | $340516.38               | $-6769977.27                               |
| Month 3  | $6889513.51              | $7609188.29                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Comcast Corp                   | Comcast Corp                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    294661 | NS      | $7967633.44   | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc       | Constellation Brands Inc                   | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |      9541 | NS      | $1493929.78   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                       | Fox Corp                                   | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     21868 | NS      | $1388399.32   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare Inc                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     25684 | NS      | $11158413.80  | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                  | M&T Bank Corp                              | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     37059 | NS      | $8102209.17   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corp            | Northern Trust Corp                        | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     36509 | NS      | $6072907.06   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                    | Phillips 66                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     16926 | NS      | $3032292.90   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group Inc  | Principal Financial Group Inc              | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |     56277 | NS      | $5678912.07   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                   | Tapestry Inc                               | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     78816 | NS      | $11431472.64  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp                      | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    104267 | NS      | $5369750.50   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc                     | Twilio Inc                                 | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     15612 | NS      | $2311512.72   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     10793 | NS      | $2726095.94   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     14355 | NS      | $1650394.35   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                       | Flex Ltd                                   | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | US        |     11836 | NS      | $1083585.80   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Aflac Inc                      | Aflac Inc                                  | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |     21154 | NS      | $2404575.18   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T Inc                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     21946 | NS      | $573448.98    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    191979 | NS      | $13947274.35  | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I | American International Group Inc           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     48343 | NS      | $3616056.40   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial Inc       | Ameriprise Financial Inc                   | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      2111 | NS      | $1002281.69   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                | Cigna Group/The                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     14184 | NS      | $4121586.72   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     13938 | NS      | $1753121.64   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     50144 | NS      | $7048742.08   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay Inc                                   | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     80360 | NS      | $8315652.80   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co              | General Motors Co                          | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    144706 | NS      | $11126444.34  | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                              | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     78265 | NS      | $5327498.55   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                      | Aptiv PLC                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |     27663 | NS      | $1666972.38   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The             | Kraft Heinz Co/The                         | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |    366914 | NS      | $8314271.24   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     19393 | NS      | $4815087.97   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                        | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       470 | NS      | $2968458.90   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc         | T Rowe Price Group Inc                     | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |     11139 | NS      | $1145980.32   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp         | Regions Financial Corp                     | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    134393 | NS      | $3836920.15   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                               | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     10791 | NS      | $3911737.50   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     50012 | NS      | $4112486.76   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    113501 | NS      | $6067763.46   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc     | CF Industries Holdings Inc                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     12777 | NS      | $1586903.40   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20186 | NS      | $3902155.66   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group Inc               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     14585 | NS      | $948754.25    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information  | Fidelity National Information Services Inc | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     22958 | NS      | $1068235.74   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                         | HP Inc                                     | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |    127251 | NS      | $2654455.86   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                      | Jabil Inc                                  | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     24797 | NS      | $8368739.53   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                                   | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      1910 | NS      | $1129593.10   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc            | PayPal Holdings Inc                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     29326 | NS      | $1470405.64   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc                   | VeriSign Inc                               | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     10258 | NS      | $2755914.28   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Cos Inc                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      5973 | NS      | $2121967.98   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       725 | NS      | $669733.25    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International | Johnson Controls International plc         | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | US        |     21010 | NS      | $3068090.30   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     45776 | NS      | $7064610.08   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc              | General Mills Inc                          | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     73571 | NS      | $2597792.01   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                    | MetLife Inc                                | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |    122935 | NS      | $9847093.50   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co                      | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     33301 | NS      | $1262773.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial            | Synchrony Financial                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |    160640 | NS      | $12240768.00  | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc      | United Parcel Service Inc                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     48905 | NS      | $5320864.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     42530 | NS      | $5442989.40   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer Inc                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    169106 | NS      | $4515130.20   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc       | Prudential Financial Inc                   | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     17186 | NS      | $1686118.46   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     29275 | NS      | $4474391.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      3172 | NS      | $561824.64    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp          | US Foods Holding Corp                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |      5730 | NS      | $535697.70    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp            | Carrier Global Corp                        | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     51449 | NS      | $3455829.33   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton Inc                              | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     55050 | NS      | $8469993.00   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp              | Devon Energy Corp                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     71568 | NS      | $3676448.16   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                | Dollar Tree Inc                            | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     35576 | NS      | $3454785.36   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co                             | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     33936 | NS      | $1435492.80   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications Inc                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     95051 | NS      | $4565299.53   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-18

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Richard Conner

**Name of Signer:** Advisors Series Trust

**Title:** Assistant Treasurer