# EDGAR Filing Document

**Accession Number:** 0001396092
**File Stem:** 0001396092-25-000083
**Filing Date:** 2025-11
**Character Count:** 20651
**Document Hash:** 8e9c8715d7182a2dddeb32b7a311e1dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001396092-25-000083.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001396092-25-000083

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** World Funds Trust
- **CENTRAL INDEX KEY:** 0001396092

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22172
- **FILM NUMBER:** 251457833

**BUSINESS ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235
- **BUSINESS PHONE:** 804-267-7400

**MAIL ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Abacus World Funds Trust
- **DATE OF NAME CHANGE:** 20070410

## Series and Classes Contracts Data

### Rule One Fund (Series ID: S000065131)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000210860 | Founders Class Shares | RULRX           |

## Nport-Ex

**RULE 1 FUND**

**Schedule of Investments**

**September 30, 2025 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **50.60%** | **COMMON STOCKS** |  |  |
| **19.25%** | **COMMUNICATION SERVICES** |  |  |
|  | Netflix, Inc.<sup>(A)</sup> | 37000 | $44360040 |
| **7.85%** | **CONSUMER DISCRETIONARY** |  |  |
|  | Lululemon Athletica, Inc.<sup>(A)</sup> | 101700 | 18095481 |
| **5.69%** | **CONSUMER STAPLES** |  |  |
|  | Sprouts Farmers Market, Inc.<sup>(A)</sup> | 120500 | 13110400 |
| **5.34%** | **ENERGY** |  |  |
|  | Occidental Petroleum Corp. | 260500 | 12308625 |
| **4.13%** | **FINANCIALS** |  |  |
|  | Federal Home Loan Mortgage Corp<sup>(A)</sup> | 400000 | 4708000 |
|  | Federal National Mortgage Association<sup>(A)</sup> | 400000 | 4820000 |
|  |  |  | 9528000 |
| **2.99%** | **INFORMATION TECHNOLOGY** |  |  |
|  | ASML Holding NV | 7100 | 6873439 |
| **5.35%** | **REAL ESTATE** |  |  |
|  | Howard Hughes Holdings, Inc.<sup>(A)</sup> | 150000 | 12325500 |
| **50.60%** | **TOTAL COMMON STOCKS** |  |  |
| **50.60%** | **TOTAL COMMON STOCKS** |  | 116601485 |
|  | (Cost: $75,396,224) |  |  |

---

**RULE 1 FUND**

**Schedule of Investments**

**September 30, 2025 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **6.50%** | **OPTIONS PURCHASED** |  |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Description** | **Number of** | **Notional** | **Exercise** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Description** | **Contracts** | **Amount** | **Price** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **6.04%** |  |  |  |  |  |
| **6.04%** | **CALL** |  |  |  |  |
|  | ASML Holding NV-NY | 115 | 11133035 | 340 | 7394500 |
|  | Lam Research Corp. | 650 | 8703500 | 35 | 6521450 |
|  | (Cost: $8,229,205) |  |  |  | 13915950 |
| **0.46%** | **PUT** |  |  |  |  |
|  | Amazon.com, Inc. | 100 | 2195700 | 195 | 4000 |
|  | Invesco QQQ Trust | 1000 | 60037000 | 349.78 | 243000 |
|  | S&P 500 INDEX | 125 | 83605750 | 4000.00 | 308750 |
|  | SPDR S&P 500 ETF | 982 | 65418876 | 585.00 | 35352 |
|  | SPDR S&P 500 ETF | 7000 | 466326000 | 614.00 | 476000 |
|  | (Cost: $2,950,228) |  |  |  | 1067102 |
| **6.50%** | **TOTAL OPTIONS PURCHASED** | **TOTAL OPTIONS PURCHASED** |  |  |  |
| **6.50%** | **TOTAL OPTIONS PURCHASED** | **TOTAL OPTIONS PURCHASED** |  |  | 14983052 |
|  | (Cost: $11,179,433) |  |  |  |  |
| **43.91%** | **MONEY MARKET FUND** |  |  |  |  |
|  | Federated Government Obligations Fund 4.010%<sup>(B)</sup> | Federated Government Obligations Fund 4.010%<sup>(B)</sup> | Federated Government Obligations Fund 4.010%<sup>(B)</sup> | 101259259 | 101187627 |
|  | (Cost: $101,187,627) |  |  |  |  |
| **101.01%** | **TOTAL INVESTMENTS** |  |  |  | 232772164 |
|  | (Cost: $183,561,643) |  |  |  |  |
| **(1.01%)** | Liabilities in excess of other assets | Liabilities in excess of other assets |  |  | (2324315) |
| **100.00%** | **NET ASSETS** |  |  |  | $**230447849** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(A)</sup>Non-income producing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(B)</sup>Effective 7 day yield as of September 30, 2025

**See Notes to Schedule of Investments.**

**RULE 1 FUND**

**Schedule of Options Written**

**September 30, 2025 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of** | **Notional** | **Exercise** | &nbsp;&nbsp;**Expiration** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Description** | **Contracts** | **Amount** | **Price** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Date** | **Value** |
| **(1.47%) OPTIONS WRITTEN** |  |  |  |  |  |
| **(0.79%) CALL** |  |  |  |  |  |
| ASML Holding NV-NY | 71 | (6873439) | 1000.00 | &nbsp;&nbsp;&nbsp;12/18/2026 $ | (1126415) |
| Howard Hughes Holding | 300 | (2465100) | 80.00 | &nbsp;&nbsp;&nbsp;10/17/2025 | (114600) |
| Lam Research Corp. | 325 | (4351750) | 119.00 | &nbsp;&nbsp;&nbsp;10/24/2025 | (540475) |
| Occidental Petroleum | 500 | (2362500) | 52.50 | &nbsp;&nbsp;&nbsp;11/21/2025 | (40500) |
| (Premiums Received: $1,283,494) |  |  |  |  | (1821990) |
| **(0.68%) PUT** |  |  |  |  |  |
| Amazon.com, Inc. | 100 | (2195700) | 200 | &nbsp;&nbsp;&nbsp;10/17/2025 | (6300) |
| ASML Holding NV-NY | 85 | (8228765) | 650 | &nbsp;&nbsp;&nbsp;12/18/2026 | (245650) |
| Lam Research Corp. | 1300 | (17407000) | 65 | &nbsp;&nbsp;&nbsp;03/20/2026 | (50700) |
| Lululemon Athletica, Inc. | 175 | (3113775) | 195 | &nbsp;&nbsp;&nbsp;06/18/2026 | (637350) |
| Lululemon Athletica, Inc. | 150 | (2668950) | 160 | &nbsp;&nbsp;&nbsp;10/03/2025 | (1650) |
| Pool Corp. | 75 | (2325525) | 300 | &nbsp;&nbsp;&nbsp;10/17/2025 | (32625) |
| SPDR S&P 500 ETF | 7000 | (466326000) | 619 | &nbsp;&nbsp;&nbsp;10/17/2025 | (546000) |
| Texas Roadhouse, Inc. | 150 | (2492250) | 160 | &nbsp;&nbsp;&nbsp;10/10/2025 | (15450) |
| Toll Brothers, Inc. | 175 | (2417450) | 130 | &nbsp;&nbsp;&nbsp;10/17/2025 | (21875) |
| (Premiums Received: $2,918,146) |  |  |  |  | (1557600) |
| **(1.47%) TOTAL OPTIONS WRITTEN** |  |  |  |  |  |
| **(1.47%) TOTAL OPTIONS WRITTEN** |  |  |  |  | (3379590) |
| (Premiums Received: $4,201,640) |  |  |  |  |  |

---

In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used

in determining the value of a Fund's investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following summarizes the inputs used to value the Fund's investments as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1 | &nbsp;&nbsp;Level 2 | &nbsp;&nbsp;Level 3 |  |
|  | <br>Quoted Prices | Other<br>Significant<br>&nbsp;&nbsp;Observable Inputs | Significant<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unobservable<br>Inputs | <br>Total |
| COMMON STOCKS | $116601485 | $- | $- | $116601485 |
| OPTIONS PURCHASED | - | $14983052 | - | $14983052 |
| MONEY MARKET FUND | 101187627 | - | - | $101187627 |
| TOTAL INVESTMENTS | $217789112 | $14983052 | - | $232772164 |
| OPTIONS WRITTEN | - | $(3379590) |  | $(3379590) |
| TOTAL SHORT INVESTMENTS | $- | $- |  | $(3379590) |

---

The cost of investments for Federal income tax purposes has been estimated a/o September 30, 2025 since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $183,561,643, and the related net unrealized appreciation (depreciation) consists of:

---

| | |
|:---|:---|
| Gross unrealized appreciation | $56370504 |
| Gross unrealized depreciation | (10539574) |
| &nbsp;&nbsp;Net unrealized appreciation | $45830931 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** World Funds Trust

- **b. Investment Company Act file number:** 811-22172

- **c. CIK number of Registrant:** 0001396092

- **d. LEI of Registrant:** 5493007BOSPYEMKSSY03

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

  - **Street Address 1:** 8730 Stony Point Parkway

  - **City:** Richmond

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 23235

  - **Telephone number:** 800-673-0550

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

- **a. Name of Series:** Rule One Fund

- **b. EDGAR series identifier (if any):** S000065131

- **c. LEI of Series:** 549300D3SNGESQIR5T98

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $234970978.26

**Total Liabilities:** $4523129.52

**Net Assets:** $230447848.74

**Cash Not Reported:** $972570.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000210860 | -5.30%               | 2.91%                | 0.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $830.53                  | $-11207708.00                              |
| Month 2  | $9539.31                 | $5421103.21                                |
| Month 3  | $1600.18                 | $-2891295.76                               |

**Designated Index Information**

- **Index Name:** DJ Industrial Average TR

- **Index Identifier:** DJITR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SPDR S&P 500 ETF             | PUT SPDR S&P 500 ETF 10/17/25 P614       | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      7000 | NS      | $476000.00    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Lam Research Corp.           | CALL Lam Research Corp. 01/15/2027 C35   | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       650 | NS      | $6521450.00   | 2.83%             |  |  |  | No            |                  2 | On Loan: No      |
| SPDR S&P 500 ETF             | PUT SPDR S&P 500 ETF 10/17/25 P585       | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       982 | NS      | $35352.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.   | CALL Occidental Petrole 11/21/2025 C52.5 | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -500 | NS      | $-40500.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| TOLL BROTHERS                | PUT TOLL BROTHERS 10/17/2025 P130        | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -175 | NS      | $-21875.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LULULEMON ATH                | PUT LULULEMON ATH 10/03/2025 P160        | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -150 | NS      | $-1650.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Default                      | ASML HOLDING NV-NY REG SHS               | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | NL        |      7100 | NS      | $6873439.00   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings, Inc. | CALL Howard Hughes Holdin 10/17/2025 C80 | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -300 | NS      | $-114600.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.             | PUT Amazon.com, Inc. 10/17/2025 P200     | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -100 | NS      | $-6300.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LULULEMON ATH                | Lululemon Athletica Inc                  | CUSIP: 550021109<br>LEI: N/A | Long             | EC               | CORP              | CA        |    101700 | NS      | $18095481.00  | 7.85%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P 500 INDEX                | PUT S&P 500 INDEX 06/18/2026 P4000       | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       125 | NS      | $308750.00    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETE              | Occidental Petroleum Corp.               | CUSIP: 674599105<br>LEI: N/A | Long             | EC               | CORP              | US        |    260500 | NS      | $12308625.00  | 5.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                      | Sprouts Farmers Market, Inc.             | CUSIP: 85208M102<br>LEI: N/A | Long             | EC               | CORP              | US        |    120500 | NS      | $13110400.00  | 5.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp.                   | PUT POOL CORP 10/17/25 P300              | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       -75 | NS      | $-32625.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ASML HOLDING NV-NY REG SHS   | CALL ASML HOLDING NV-NY 12/18/26 C1000   | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       -71 | NS      | $-1126415.00  | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| Default                      | Federated Government Obligations Fund    | CUSIP: 60934N104<br>LEI: N/A | Long             | STIV             | RF                | US        | 101259259 | NS      | $101187626.63 | 43.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.             | PUT Amazon.com, Inc. 10/17/2025 P195     | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       100 | NS      | $4000.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SPDR S&P 500 ETF             | PUT SPDR S&P 500 ETF 10/17/25 P619       | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |     -7000 | NS      | $-546000.00   | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| Default                      | Howard Hughes Holdings, Inc.             | CUSIP: 44267T102<br>LEI: N/A | Long             | EC               | CORP              | US        |    150000 | NS      | $12325500.00  | 5.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ROADHOUS               | PUT TEXAS ROADHOUS 10/10/2025 P160       | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -150 | NS      | $-15450.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Lam Research Corp.           | PUT Lam Research Corp. 03/20/2026 P65    | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |     -1300 | NS      | $-50700.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| FANNIE MAE                   | Federal National Mortgage Association    | CUSIP: 313586109<br>LEI: N/A | Long             | EC               | CORP              | US        |    400000 | NS      | $4820000.00   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FREDDIE MAC                  | Federal Home Loan Mortgage Corp          | CUSIP: 313400301<br>LEI: N/A | Long             | EC               | CORP              | US        |    400000 | NS      | $4708000.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.           | CALL Lam Research Corp. 10/24/2025 C119  | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -325 | NS      | $-540475.00   | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| ASML HOLDING NV-NY REG SHS   | CALL ASML HOLDING NV-NY 01/15/2027 C340  | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       115 | NS      | $7394500.00   | 3.21%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML HOLDING NV-NY REG SHS   | PUT ASML HOLDING NV-NY 12/18/26 P650     | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |       -85 | NS      | $-245650.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| NETFLIX INC                  | Netflix, Inc.                            | CUSIP: 64110L106<br>LEI: N/A | Long             | EC               | CORP              | US        |     37000 | NS      | $44360040.00  | 19.25%            |  |  |  | No            |                  1 | On Loan: No      |
| LULULEMON ATH                | PUT LULULEMON ATH 06/18/2026 P195        | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      -175 | NS      | $-637350.00   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Series     | PUT Invesco QQQ Trust 06/18/2026 P349.78 | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               | CORP              | US        |      1000 | NS      | $243000.00    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** World Funds Trust

**Signature:** Ann MacDonald

**Name of Signer:** Ann MacDonald

**Title:** Principal Financial Officer