# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001193125-25-219101
**Filing Date:** 2025-9
**Character Count:** 25600
**Document Hash:** 8d3ab767dfb2d24d431b5b57f0d8ec48
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-219101.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001193125-25-219101

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**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:** 251345896

**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

### Huber Small Cap Value Fund (Series ID: S000018428)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000050920 | Investor Class      | HUSIX           |
| C000106240 | Institutional Class | HUSEX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Huber Small Cap Value Fund** | **Huber Small Cap Value Fund** | **Huber Small Cap Value Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 95.3%** | **Shares** | **Value**  |
| **Asset Management - 2.0%** | **Asset Management - 2.0%** | |
| Virtus Investment Partners, Inc. | 8081 | $1562138 |
| **Automotive - 2.6%** | **Automotive - 2.6%** |  |
| Goodyear Tire & Rubber Co. <sup>(a)</sup> | 120000 | 1233600 |
| Miller Industries, Inc. | 19091 | 777958 |
|  |  | 2011558 |
| **Banking - 21.1%** | **Banking - 21.1%** |  |
| C&F Financial Corp. | 39394 | 2515307 |
| Carter Bankshares, Inc. <sup>(a)</sup> | 134813 | 2343050 |
| First Citizens BancShares, Inc. - Class A | 683 | 1362421 |
| First Horizon Corp. | 131679 | 2871919 |
| First Northwest Bancorp | 52383  | 400730  |
| First United Corp. | 78008 | 2564123 |
| Northrim BanCorp, Inc. | 34052 | 2844364 |
| Old National Bancorp/IN | 26029 | 549472 |
| South State Corp. | 9241 | 870225 |
|  |  | 16321611 |
| **Biotech & Pharmaceuticals - 2.5%** | **Biotech & Pharmaceuticals - 2.5%** |  |
| Cipher Pharmaceuticals, Inc. <sup>(a)</sup> | 224700 | 1954125 |
| **Chemicals - 2.1%** | **Chemicals - 2.1%** |  |
| Innospec, Inc. | 10440 | 834156 |
| Olin Corp. | 42200 | 799268 |
|  |  | 1633424 |
| **Commercial Support Services - 1.4%** | **Commercial Support Services - 1.4%** |  |
| H&R Block, Inc. | 20100 | 1092234 |
| **Consumer Services - 5.0%** | **Consumer Services - 5.0%** |  |
| Upbound Group, Inc. | 188024 | 3879875 |
| **Entertainment - 3.0%** | **Entertainment - 3.0%** |  |
| Lionsgate Studios Corp. <sup>(a)</sup> | 241106 | 1427348 |
| Starz Entertainment Corp. <sup>(a)</sup> | 63944 | 930385 |
|  |  | 2357733 |
| **Food - 3.4%** | **Food - 3.4%** |  |
| Herbalife Ltd. <sup>(a)</sup> | 284400 | 2616480 |
| **Health Care Facilities & Services - 1.2%** | **Health Care Facilities & Services - 1.2%** |  |
| Medical Facilities Corp. | 2900 | 30641 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 5801 | 935585 |
|  |  | 966226 |
| **Healthcare-Products - 2.6%** | **Healthcare-Products - 2.6%** |  |
| Utah Medical Products, Inc. | 36525 | 2030790 |
| **Home Construction - 0.4%** | **Home Construction - 0.4%** |  |
| Taylor Morrison Home Corp. <sup>(a)</sup> | 5000 | 296400 |
| **Insurance - 3.2%** | **Insurance - 3.2%** |  |
| CNO Financial Group, Inc. | 67244 | 2477269 |
| **Internet - 1.6%** | **Internet - 1.6%** |  |
| F5 Networks, Inc. <sup>(a)</sup> | 4000 | 1253680 |
| **Internet Media & Services - 3.1%** | **Internet Media & Services - 3.1%** |  |
| Lyft, Inc. - Class A <sup>(a)</sup> | 169100 | 2377546 |
| **Leisure Facilities & Services - 1.9%** | **Leisure Facilities & Services - 1.9%** |  |
| Boston Pizza Royalties Income Fund | 101654 | 1432077 |
| **Oil & Gas Producers - 14.2%** | **Oil & Gas Producers - 14.2%** |  |
| Golar LNG Ltd. | 181238 | 7459756 |
| Gulfport Energy Corp. <sup>(a)</sup> | 800 | 139304 |
| W&T Offshore, Inc. | 1897122 | 3357906 |
|  |  | 10956966 |
| **Oil & Gas Services & Equipment - 3.7%** | **Oil & Gas Services & Equipment - 3.7%** |  |
| TETRA Technologies, Inc. <sup>(a)</sup> | 690298 | 2830222 |
| **Packaging & Containers - 4.3%** | **Packaging & Containers - 4.3%** |  |
| O-I Glass, Inc. <sup>(a)</sup> | 254112 | 3305997 |
| **Software - 1.6%** | **Software - 1.6%** |  |
| Weave Communications, Inc. <sup>(a)</sup> | 167203 | 1220582 |
| **Specialty Finance - 4.1%** | **Specialty Finance - 4.1%** |  |
| Enova International, Inc. <sup>(a)</sup> | 30702 | 3210201 |
| **Technology Hardware - 1.1%** | **Technology Hardware - 1.1%** |  |
| Xperi, Inc. <sup>(a)</sup> | 143447 | 863551 |
| **Technology Services - 7.5%** | **Technology Services - 7.5%** |  |
| KBR, Inc. | 88675 | 4144669 |
| Science Applications International Corp. | 15110 | 1684463 |
|  |  | 5829132 |
| **Transportation Equipment - 1.7%** | **Transportation Equipment - 1.7%** |  |
| Commercial Vehicle Group, Inc. <sup>(a)</sup> | 794752 | 1343131 |
| **TOTAL COMMON STOCKS** (Cost $43,145,348) | **TOTAL COMMON STOCKS** (Cost $43,145,348) | 73822948 |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON - 3.3%** | **Shares** | **Value**  |
| **REITS - 3.3%** | **REITS - 3.3%** |  |
| Granite Real Estate Investment Trust | 16937 | 893935 |
| Sila Realty Trust, Inc. | 66488 | 1624966 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $2,208,600) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $2,208,600) | 2518901 |
| **SHORT-TERM INVESTMENTS - 2.4%** | **Shares** | **Value**  |
| **Money Market Funds - 2.4%** |  |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(b)</sup> | 933386 | 933386 |
| First American Treasury Obligations Fund - Class X, 4.26% <sup>(b)</sup> | 933385 | 933385 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,866,771) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,866,771) | 1866771 |
| **TOTAL INVESTMENTS - 101.0% (**Cost $47,220,719**)** | **TOTAL INVESTMENTS - 101.0% (**Cost $47,220,719**)** | 78208620 |
| Liabilities in Excess of Other Assets - (1.0)% | Liabilities in Excess of Other Assets - (1.0)% | (766059) |
| **TOTAL NET ASSETS - 100.0%** |  | $77442561 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

REIT - Real Estate Investment Trust<br>

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized effective yield as of July 31, 2025.

------

#### Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)
Huber Small Cap 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 July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $73822948 | $– | $– | $73822948 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | 2518901 | – | – | 2518901 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1866771 | – | – | 1866771 |
| Total Investments | $78208620 | $– | $– | $78208620 |

---

## 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:** 2549003Z0J6URS6I4Y63

- **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:** Huber Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000018428

- **c. LEI of Series:** 2549001F47L408DNN112

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $77754651.44

**Total Liabilities:** $204286.01

**Net Assets:** $77550365.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000050920 | 5.71%                | 2.87%                | -2.01%               |
| Class ID C000106240 | 5.75%                | 2.91%                | -2.02%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $438190.66               | $3730371.02                                |
| Month 2  | $-2408654.88             | $4484872.60                                |
| Month 3  | $650473.55               | $-2210161.10                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Treasury Obliga | First American Treasury Obligations Fund   | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |    933385 | NS      | $933385.43    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| First Northwest Bancorp        | First Northwest Bancorp                    | CUSIP: 335834107<br>LEI: 549300YDR3VSTKB9DQ65 | Long             | EC               | CORP              | US        |     52383 | NS      | $400729.95    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                      | Olin Corp                                  | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |     19800 | NS      | $375012.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp                | SouthState Corp                            | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      9241 | NS      | $870224.97    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Facilities Corp        | Medical Facilities Corp                    | CUSIP: 58457V503<br>LEI: 549300KHW6BB8F1NXK22 | Long             | EC               | CORP              | CA        |      2900 | NS      | $30640.88     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc        | CNO Financial Group Inc                    | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     67244 | NS      | $2477268.96   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp             | First Horizon Corp                         | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    131679 | NS      | $2871918.99   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| First United Corp              | First United Corp                          | CUSIP: 33741H107<br>LEI: 549300G54QPXQLB4KN58 | Long             | EC               | CORP              | US        |     78008 | NS      | $2564122.96   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The  | Goodyear Tire & Rubber Co/The              | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    120000 | NS      | $1233600.00   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrim BanCorp Inc           | Northrim BanCorp Inc                       | CUSIP: 666762109<br>LEI: 5493006X7RLLTZ3SG075 | Long             | EC               | CORP              | US        |     34052 | NS      | $2844363.56   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications Internati | Science Applications International Corp    | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     15110 | NS      | $1684462.80   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Ltd                  | Golar LNG Ltd                              | CUSIP: N/A<br>LEI: 213800C2VSFZG3EZLO34       | Long             | EC               | CORP              | BM        |    181238 | NS      | $7459756.08   | 9.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Pharmaceuticals Inc     | Cipher Pharmaceuticals Inc                 | CUSIP: 17253X105<br>LEI: 213800T44AN9XSAOY605 | Long             | EC               | CORP              | CA        |    224700 | NS      | $1954124.57   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Real Estate Investment | Granite Real Estate Investment Trust       | CUSIP: 387437205<br>LEI: 549300A6I7CLE0ZC0396 | Long             | EC               | CORP              | CA        |     16937 | NS      | $893934.86    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyft Inc                       | Lyft Inc                                   | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |    169100 | NS      | $2377546.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter Bankshares Inc          | Carter Bankshares Inc                      | CUSIP: 146103106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    134813 | NS      | $2343049.94   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Vehicle Group Inc   | Commercial Vehicle Group Inc               | CUSIP: 202608105<br>LEI: 5493006OG8I91X0K7Q22 | Long             | EC               | CORP              | US        |    794752 | NS      | $1343130.88   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5 Inc                                     | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      4000 | NS      | $1253680.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    933385 | NS      | $933385.44    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN        | Old National Bancorp/IN                    | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     26029 | NS      | $549472.19    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Lionsgate Studios Corp         | Lionsgate Studios Corp                     | CUSIP: 53626N102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    241106 | NS      | $1427347.52   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Miller Industries Inc/TN       | Miller Industries Inc/TN                   | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |     19091 | NS      | $777958.25    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Investment Partners Inc | Virtus Investment Partners Inc             | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |      8081 | NS      | $1562138.11   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd                  | Herbalife Ltd                              | CUSIP: N/A<br>LEI: 549300BA7TYPBSZZIA41       | Long             | EC               | CORP              | US        |    284400 | NS      | $2616480.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Pizza Royalties Income  | Boston Pizza Royalties Income Fund         | CUSIP: 101084101<br>LEI: 5493005FU206TUQVFP65 | Long             | EC               | CORP              | CA        |    101654 | NS      | $1432077.14   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/ | First Citizens BancShares Inc/NC           | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       683 | NS      | $1362421.08   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp           | Gulfport Energy Corp                       | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |       800 | NS      | $139304.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                   | Innospec Inc                               | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |     10440 | NS      | $834156.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                        | KBR Inc                                    | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     88675 | NS      | $4144669.50   | 5.34%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass Inc                  | O-I Glass Inc                              | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    254112 | NS      | $3305997.12   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group Inc              | Upbound Group Inc                          | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |    181924 | NS      | $3754001.74   | 4.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                  | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |      5000 | NS      | $296400.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Weave Communications Inc       | Weave Communications Inc                   | CUSIP: 94724R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    167203 | NS      | $1220581.90   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International Inc                    | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     30702 | NS      | $3210201.12   | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Starz Entertainment Corp       | Starz Entertainment Corp                   | CUSIP: 855919106<br>LEI: 5493000JSMHPHZURLM72 | Long             | EC               | CORP              | US        |     63944 | NS      | $930385.20    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products Inc      | Utah Medical Products Inc                  | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |     36525 | NS      | $2030790.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block Inc                              | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     20100 | NS      | $1092234.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| C&F Financial Corp             | C&F Financial Corp                         | CUSIP: 12466Q104<br>LEI: 549300VFPAZLNS1R0361 | Long             | EC               | CORP              | US        |     39394 | NS      | $2515306.90   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Xperi Inc                      | Xperi Inc                                  | CUSIP: 98423J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    143447 | NS      | $863550.94    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc          | Sila Realty Trust Inc                      | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               | CORP              | US        |     66488 | NS      | $1624966.72   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      5801 | NS      | $935585.28    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies Inc         | TETRA Technologies Inc                     | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    690298 | NS      | $2830221.80   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| W&T Offshore Inc               | W&T Offshore Inc                           | CUSIP: 92922P106<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | EC               | CORP              | US        |   1897122 | NS      | $3357905.94   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-18

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Kevin Hayden

**Name of Signer:** Advisors Series Trust

**Title:** Treasurer & Vice President