# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-25-006669
**Filing Date:** 2025-12
**Character Count:** 20741
**Document Hash:** 08be14666264e4d3151db644b5369d5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-006669.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000910472-25-006669

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**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:** 251611440

**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:** 2025-10-31

**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:** $55411457.33

**Total Liabilities:** $1207519.01

**Net Assets:** $54203938.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000123869 | 2.71%                | 4.45%                | 1.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $133330.31               | $1275711.94                                |
| Month 2  | $1063327.83              | $1199361.46                                |
| Month 3  | $513662.12               | $122707.17                                 |

### 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        |      7140 | NS      | $794182.20    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Profunds                                                            | ProFunds Semiconductor UltraSector                              | CUSIP: 743185449<br>LEI: 549300HM4OOUYSE5DP77 | Long             | EC               | RF                | US        |     22549 | NS      | $1561086.79   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | Schwab International Equity ETF                                 | CUSIP: 808524805<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |      6880 | NS      | $163468.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | SCHWAB U.S. TIPS ETF                                            | CUSIP: 808524870<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     14810 | NS      | $399277.60    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Inc                                                         | iShares MSCI Emerging Markets ex China ETF                      | CUSIP: 46434G764<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     33440 | NS      | $2416040.00   | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | iShares Russell 1000 Growth ETF                                 | CUSIP: 464287614<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      7850 | NS      | $3811803.00   | 7.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ETF Opportunities Trust                                             | SMI 3Fourteen Full-Cycle Trend ETF                              | CUSIP: 26923N512<br>LEI: 549300FWST5041130Z58 | Long             | EC               | RF                | US        |    233000 | NS      | $5757430.00   | 10.62%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Utilities Select Sector SPDR Fund                               | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |        90 | NS      | $8019.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | iShares JP Morgan USD Emerging Markets Bond ETF                 | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      4140 | NS      | $400213.80    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Consumer Discretionary Select Sector SPDR Fund                  | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      1700 | NS      | $407881.00    | 0.75%             |  |  |  | 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      | $3489.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                                   | SPDR S&P Metals & Mining ETF                                    | CUSIP: 78464A755<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     20470 | NS      | $1977197.30   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                                                | Vanguard Small-Cap ETF                                          | CUSIP: 922908751<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      1180 | NS      | $300888.20    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Health Care Select Sector SPDR Fund                             | CUSIP: 81369Y209<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       250 | NS      | $36062.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1                                         | Invesco QQQ Trust Series 1                                      | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |      3510 | NS      | $2208035.70   | 4.07%             |  |  |  | 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        |      1090 | NS      | $100018.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon ETF Trust                                                | BNY Mellon US Large Cap Core Equity ETF                         | CUSIP: 09661T107<br>LEI: 549300E2C8EQYJ7B0H81 | Long             | EC               | RF                | US        |     41200 | NS      | $5397200.00   | 9.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Financial Select Sector SPDR Fund                               | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      6070 | NS      | $317885.90    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Consumer Staples Select Sector SPDR Fund                        | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       270 | NS      | $20595.60     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | Schwab Long-Term U.S. Treasury ETF                              | CUSIP: 808524680<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     21360 | NS      | $696336.00    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares Trust                                                     | ProShares S&P 500 Dividend Aristocrats ETF                      | CUSIP: 74348A467<br>LEI: 5493005D9DS7C1P5AM59 | Long             | EC               | RF                | US        |      2940 | NS      | $298704.00    | 0.55%             |  |  |  | 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        |     96730 | NS      | $2232528.40   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Asset Management LP                                          | Sprott Physical Gold Trust                                      | CUSIP: 85207H104<br>LEI: 5493007M22KSTRPCA127 | Long             | EC               | RF                | CA        |    189760 | NS      | $5759216.00   | 10.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Aegis Value Fd Inc                                                  | Aegis Value Fund, Inc.                                          | CUSIP: 00761L102<br>LEI: 549300XSJEOGN3MJXQ62 | Long             | EC               | RF                | US        |     46830 | NS      | $2571415.42   | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund                                                 | Vanguard Energy ETF                                             | CUSIP: 92204A306<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |       800 | NS      | $99632.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Wasatch Funds Trust                                                 | Wasatch International Growth Fund                               | CUSIP: 936793405<br>LEI: 549300B3CBVFTLZDYP46 | Long             | EC               | RF                | US        |       100 | NS      | $2314.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Templeton ETF Trust                                        | Franklin FTSE Europe ETF                                        | CUSIP: 35473P652<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |      2900 | NS      | $101790.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Energy Select Sector SPDR Fund                                  | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       120 | NS      | $10575.60     | 0.02%             |  |  |  | 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        |    198972 | PA      | $198971.81    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Real Estate Select Sector SPDR Fund                             | CUSIP: 81369Y860<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       190 | NS      | $7771.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ETF Opportunities Trust                                             | SMI 3Fourteen REAL Asset Allocation ETF                         | CUSIP: 26923N397<br>LEI: 549300FWST5041130Z58 | Long             | EC               | RF                | US        |    133380 | NS      | $3697320.28   | 6.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Grayscale Bitcoin Mini Trust ETF                                    | Grayscale Bitcoin Mini Trust ETF                                | CUSIP: 389930207<br>LEI: 529900WHTNX5LZCNWB27 | Long             | EC               | RF                | US        |      6230 | NS      | $302902.60    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | iShares MSCI EAFE ETF                                           | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     21650 | NS      | $2045708.50   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cambria ETF Trust                                                   | Cambria Global Value ETF                                        | CUSIP: 132061409<br>LEI: 254900AGNELEKCKAOK33 | Long             | EC               | RF                | US        |     69620 | NS      | $2083726.60   | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Fund Inc                               | MSIF Inception Portfolio                                        | CUSIP: 61744J309<br>LEI: 54930067DYRSUSGS4E97 | Long             | EC               | RF                | US        |     94602 | NS      | $1783256.28   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Communication Services Select Sector SPDR Fund                  | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      3270 | NS      | $375428.70    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Materials Select Sector SPDR Fund                               | CUSIP: 81369Y100<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |        90 | NS      | $7710.30      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                       | ISHARES CORE US REIT ETF                                        | CUSIP: 464288521<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      3470 | NS      | $200010.80    | 0.37%             |  |  |  | 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      | $4199.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Fund Inc                               | Morgan Stanley Institutional Fund, Inc. - Growth Portfolio      | CUSIP: 61744J861<br>LEI: 54930067DYRSUSGS4E97 | Long             | EC               | RF                | US        |     30878 | NS      | $2357254.77   | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AQR Funds                                                           | AQR Diversifying Strategies Fund                                | CUSIP: 00191K351<br>LEI: 549300V0TAB4ICSX2404 | Long             | EC               | RF                | US        |     35310 | NS      | $499285.97    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Technology Select Sector SPDR Fund                              | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      4500 | NS      | $1353060.00   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Templeton ETF Trust                                        | Franklin FTSE Japan ETF                                         | CUSIP: 35473P744<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |      5720 | NS      | $203918.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                            | Industrial Select Sector SPDR Fund                              | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      1310 | NS      | $203128.60    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                                              | Schwab High Yield Bond ETF                                      | CUSIP: 808524631<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     22570 | NS      | $598330.70    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

**Name of Applicant:** Valued Advisers Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer