# EDGAR Filing Document

**Accession Number:** 0001591939
**File Stem:** 0001145549-25-055851
**Filing Date:** 2025-8
**Character Count:** 21119
**Document Hash:** 947eaa0f1489939e49dbaa892a07d338
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-055851.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001145549-25-055851

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Absolute Shares Trust
- **CENTRAL INDEX KEY:** 0001591939

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22917
- **FILM NUMBER:** 251271457

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WBI INVESTMENTS, INC.
- **STREET 2:** 331 NEWMAN SPRINGS ROAD, SUITE 105
- **CITY:** RED BANK
- **STATE:** NJ
- **ZIP:** 07701
- **BUSINESS PHONE:** 732-842-4920

**MAIL ADDRESS:**
- **STREET 1:** C/O WBI INVESTMENTS, INC.
- **STREET 2:** 331 NEWMAN SPRINGS ROAD, SUITE 143
- **CITY:** RED BANK
- **STATE:** NJ
- **ZIP:** 07701

## Series and Classes Contracts Data

### WBI Power Factor High Dividend ETF (Series ID: S000055583)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000174967 | WBI Power Factor High Dividend ETF | WBIY            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Absolute Shares Trust

- **b. Investment Company Act file number:** 811-22917

- **c. CIK number of Registrant:** 0001591939

- **d. LEI of Registrant:** 5493005LD0D8EHH9CD08

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

  - **Street Address 1:** 331 Newman Springs Rd

  - **City:** Red Bank

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07701

  - **Telephone number:** 732-842-4920

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

- **a. Name of Series:** WBI Power Factor High Dividend ETF

- **b. EDGAR series identifier (if any):** S000055583

- **c. LEI of Series:** 549300VJU1UYTLVXL958

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $70622881.98

**Total Liabilities:** $15043998.43

**Net Assets:** $55578883.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174967 | -5.84%               | 3.09%                | 3.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3043438.29             | $-580431.53                                |
| Month 2  | $122051.45               | $1136854.61                                |
| Month 3  | $-1260104.77             | $2914797.85                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Artisan Partners Asset Managem            | Artisan Partners Asset Management Inc     | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |     10259 | NS      | $454781.47    | 0.82%             |  |  |  | No            |                  1 | On Loan: —       |
| Atlantic Union Bankshares Corp            | Atlantic Union Bankshares Corp            | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29249 | NS      | $914908.72    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co Inc                           | Best Buy Co Inc                           | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     38328 | NS      | $2572958.64   | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                              | Chevron Corp                              | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5267 | NS      | $754181.73    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc              | Citizens Financial Group Inc              | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     17629 | NS      | $788897.75    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc                       | Clearway Energy Inc                       | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     17095 | NS      | $547040.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc               | Columbia Banking System Inc               | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28269 | NS      | $660929.22    | 1.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Comerica Inc                              | Comerica Inc                              | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |     13365 | NS      | $797222.25    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                        | Conagra Brands Inc                        | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     51802 | NS      | $1060386.94   | 1.91%             |  |  |  | No            |                  1 | On Loan: —       |
| Dine Brands Global Inc                    | Dine Brands Global Inc                    | CUSIP: 254423106<br>LEI: 529900HKM8OWSHLKJY75 | Long             | EC               | CORP              | US        |     14960 | NS      | $363976.80    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                       | Dominion Energy Inc                       | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     12882 | NS      | $728090.64    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp                                  | FMC Corp                                  | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |     62564 | NS      | $2612047.00   | 4.70%             |  |  |  | No            |                  1 | On Loan: —       |
| First Interstate BancSystem In            | First Interstate BancSystem Inc           | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     12499 | NS      | $360221.18    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                             | Ford Motor Co                             | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |    257214 | NS      | $2790771.90   | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp Inc                          | Hope Bancorp Inc                          | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     14740 | NS      | $158160.20    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Interpublic Group of Cos Inc/T            | Interpublic Group of Cos Inc/The          | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |     32844 | NS      | $804021.12    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                        | Kraft Heinz Co/The                        | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     36562 | NS      | $944030.84    | 1.70%             |  |  |  | No            |                  1 | On Loan: —       |
| LCI Industries                            | LCI Industries                            | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      8752 | NS      | $798094.88    | 1.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Bank of NT Butterfield & Son L            | Bank of NT Butterfield & Son Ltd/The      | CUSIP: N/A<br>LEI: 549300V8RVM0EMTDPF28       | Long             | EC               | CORP              | BM        |      2974 | NS      | $131688.72    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LNG Ltd                              | FLEX LNG Ltd                              | CUSIP: N/A<br>LEI: 21380084THHU3MPC3647       | Long             | EC               | CORP              | NO        |      9227 | NS      | $202809.46    | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Ltd                               | Invesco Ltd                               | CUSIP: N/A<br>LEI: ECPGFXU8A2SHKVVGJI15       | Long             | EC               | CORP              | US        |    109292 | NS      | $1723534.84   | 3.10%             |  |  |  | No            |                  1 | On Loan: —       |
| LyondellBasell Industries NV              | LyondellBasell Industries NV              | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | US        |     44737 | NS      | $2588482.82   | 4.66%             |  |  |  | No            |                  1 | On Loan: —       |
| Global Ship Lease Inc                     | Global Ship Lease Inc                     | CUSIP: N/A<br>LEI: 254900GLZ0J5N8UZM071       | Long             | EC               | CORP              | GB        |      8241 | NS      | $216820.71    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco Inc                              | WesBanco Inc                              | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25112 | NS      | $794292.56    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Union Co/The                      | Western Union Co/The                      | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    103798 | NS      | $873979.16    | 1.57%             |  |  |  | No            |                  1 | On Loan: —       |
| US BANK MMDA - USBFS 2                    | US BANK MMDA - USBFS 2                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    210039 | NS      | $210039.01    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp                   | Valley National Bancorp                   | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |     89547 | NS      | $799654.71    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                | Verizon Communications Inc                | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     55757 | NS      | $2412605.39   | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Investment Partners Inc            | Virtus Investment Partners Inc            | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |       698 | NS      | $126617.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                                | Macy's Inc                                | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    160408 | NS      | $1870357.28   | 3.37%             |  |  |  | No            |                  1 | On Loan: —       |
| AES Corp/The                              | AES Corp/The                              | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    249307 | NS      | $2622709.64   | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                          | Altria Group Inc                          | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     43467 | NS      | $2548470.21   | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                                  | APA Corp                                  | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    157738 | NS      | $2885028.02   | 5.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Marriott Vacations Worldwide C            | Marriott Vacations Worldwide Corp         | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     12611 | NS      | $911901.41    | 1.64%             |  |  |  | No            |                  1 | On Loan: —       |
| Monro Inc                                 | Monro Inc                                 | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20701 | NS      | $308651.91    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                           | Murphy Oil Corp                           | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     71102 | NS      | $1599795.00   | 2.88%             |  |  |  | No            |                  1 | On Loan: —       |
| Navient Corp                              | Navient Corp                              | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |     16974 | NS      | $239333.40    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares Inc                  | Northwest Bancshares Inc                  | CUSIP: 667340103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12914 | NS      | $165040.92    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc                      | OneMain Holdings Inc                      | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     21370 | NS      | $1218090.00   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Premier Bancorp Inc               | Pacific Premier Bancorp Inc               | CUSIP: 69478X105<br>LEI: 549300Q1KIC3KLI0XG98 | Long             | EC               | CORP              | US        |     13336 | NS      | $281256.24    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc             | Papa John's International Inc             | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |     37844 | NS      | $1852085.36   | 3.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Permian Resources Corp                    | Permian Resources Corp                    | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     68700 | NS      | $935694.00    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                | Pfizer Inc                                | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    108010 | NS      | $2618162.40   | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services I            | Provident Financial Services Inc          | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |     12177 | NS      | $213462.81    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc                  | Prudential Financial Inc                  | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      7062 | NS      | $758741.28    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group Inc                         | Upbound Group Inc                         | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     10479 | NS      | $263022.90    | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Travel + Leisure Co                       | Travel + Leisure Co                       | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     14272 | NS      | $736577.92    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp                     | Truist Financial Corp                     | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     21746 | NS      | $934860.54    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc                 | United Parcel Service Inc                 | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     25786 | NS      | $2602838.84   | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  15001591 | NS      | $15001591.25  | 26.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corp PLC                            | Noble Corp PLC                            | CUSIP: N/A<br>LEI: 549300I3HBUNXO0OG954       | Long             | EC               | CORP              | US        |     54229 | NS      | $1439779.95   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SFL Corp Ltd                              | SFL Corp Ltd                              | CUSIP: N/A<br>LEI: 549300RLYYPSB0C7RH77       | Long             | EC               | CORP              | NO        |     26869 | NS      | $223818.77    | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** Absolute Shares Trust

**Signature:** /s/Fred Teufel

**Name of Signer:** Fred Teufel

**Title:** Principal Financial Officer