# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-25-001261
**Filing Date:** 2025-9
**Character Count:** 35967
**Document Hash:** 15529b2627ae0728dbb26dbd7afc197c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-001261.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000910472-25-001261

**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:** 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:** 251346390

**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

### Dana Epiphany Small Cap Equity Fund (Series ID: S000051394)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000161987 | Institutional Class Shares | DSCIX           |

## Nport-Ex

Dana

Large

Cap

Equity

Fund

Schedule

of

Investments

July

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

99.11%

Shares

Fair

Value

Communications

—

9.70%

Alphabet,

Inc.,

Class

A

13,600

$

2,609,840

Meta

Platforms,

Inc.,

Class

A

2,700

2,088,288

T-Mobile

US,

Inc.

5,000

1,192,050

Walt

Disney

Co.

(The)

7,200

857,592

6,747,770

Consumer

Discretionary

—

10.37%

Amazon.com,

Inc.

(a) 11,400

2,668,854

Carnival

Corp.

(a) 39,000

1,161,030

PulteGroup,

Inc.

10,400

1,174,368

Restaurant

Brands

International,

Inc.

16,400

1,112,904

TJX

Cos.,

Inc.

(The)

8,800

1,095,864

7,213,020

Consumer

Staples

—

5.32%

Keurig

Dr

Pepper,

Inc.

14,000

457,100

Kimberly-Clark

Corp.

4,500

560,790

Kroger

Co.

(The)

19,200

1,345,920

Sysco

Corp.

16,800

1,337,280

3,701,090

Energy

—

2.99%

Diamondback

Energy,

Inc.

7,400

1,100,084

Schlumberger

Ltd.

29,000

980,200

2,080,284

Financials

—

13.77%

American

Express

Co.

4,400

1,316,964

Bank

of

America

Corp.

1,000

47,270

Bank

of

New

York

Mellon

Corp.

(The)

14,800

1,501,460

Interactive

Brokers

Group,

Inc.,

Class

A

23,200

1,520,992

JPMorgan

Chase

&

Co.

4,600

1,362,704

Reinsurance

Group

of

America,

Inc.

6,400

1,231,680

Visa,

Inc.,

Class

A

3,600

1,243,692

Wells

Fargo

&

Co.

16,800

1,354,584

9,579,346

Health

Care

—

8.29%

AbbVie,

Inc.

6,700

1,266,434

Align

Technology,

Inc.

(a) 5,600

722,456

Eli

Lilly

&

Co.

1,600

1,184,112

IQVIA

Holdings,

Inc.

(a) 7,100

1,319,606

McKesson

Corp.

1,840

1,276,114

5,768,722

Industrials

—

7.37%

Delta

Air

Lines,

Inc.

20,600

1,096,126

L3Harris

Technologies,

Inc.

5,000

1,374,100

Parker-Hannifin

Corp.

1,640

1,200,316

Vertiv

Holdings

Co.,

Class

A

10,000

1,456,000

5,126,542

Dana

Large

Cap

Equity

Fund

Schedule

of

Investments

(continued)

July

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

99.11%

-

(continued)

Shares

Fair

Value

Materials

—

1.88%

CRH

plc

13,700

$

1,307,665

Real

Estate

—

1.96%

Gaming

and

Leisure

Properties,

Inc.

15,000

683,700

Iron

Mountain,

Inc.

7,000

681,520

1,365,220

Technology

—

35.12%

Accenture

plc,

Class

A

4,400

1,175,240

Adobe,

Inc.

(a) 3,200

1,144,608

Apple,

Inc.

18,100

3,757,017

Broadcom,

Inc.

6,200

1,820,940

Lam

Research

Corp.

15,000

1,422,600

Microsoft

Corp.

9,400

5,014,900

NVIDIA

Corp.

30,600

5,442,822

ServiceNow,

Inc.

(a) 1,200

1,131,744

Synopsys,

Inc.

(a) 2,100

1,330,287

Uber

Technologies,

Inc.

(a) 12,100

1,061,775

Workday,

Inc.,

Class

A

(a) 4,900

1,123,962

24,425,895

Utilities

—

2.34%

CenterPoint

Energy,

Inc.

21,300

826,866

PPL

Corp.

22,400

799,456

1,626,322

Total

Common

Stocks

(Cost $42,324,949)

68,941,876

MONEY

MARKET

FUNDS

—

0.90%

Fidelity

Investments

Money

Market

Government

Portfolio,

Institutional

Class,

4.26%

(b) 625,623

625,623

Total

Money

Market

Funds

(Cost

$625,623)

625,623

Total

Investments

—

100.01%

(Cost

$42,950,572)

69,567,499

Liabilities

in

Excess

of

Other

Assets — (0.01)%

(3,813)

NET

ASSETS

—

100.00%

$

69,563,686

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

July

31,

2025. Dana

Epiphany

Small

Cap

Equity

Fund

Schedule

of

Investments

July

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

98.23%

Shares

Fair

Value

Communications

—

1.90%

Magnite,

Inc.

(a) 24,460

$

562,825

Consumer

Discretionary

—

8.92%

Acushnet

Holdings

Corp.

6,855

545,795

Boot

Barn

Holdings,

Inc.

(a) 3,270

562,113

Group

Automotive,

Inc.

1,127

464,493

Kontoor

Brands,

Inc.

7,089

394,574

Modine

Manufacturing

Co.

(a) 5,044

678,721

2,645,696

Consumer

Staples

—

3.21%

e.l.f.

Beauty,

Inc.

(a) 4,943

599,042

Simply

Good

Foods

Co.

(The)

(a) 11,560

352,118

951,160

Energy

—

3.54%

Civitas

Resources,

Inc.

9,431

286,325

SM

Energy

Co.

12,743

351,580

Weatherford

International

plc

7,286

412,023

1,049,928

Financials

—

18.90%

Atlantic

Union

Bancshares

Corp.

16,672

528,502

AXIS

Capital

Holdings

Ltd.

5,723

537,046

Evercore,

Inc.,

Class

A

2,507

754,958

Pinnacle

Financial

Partners,

Inc.

4,918

432,243

PJT

Partners,

Inc.,

Class

A

2,965

529,608

Primerica,

Inc.

1,966

522,229

SouthState

Corp.

5,701

536,863

Stifel

Financial

Corp.

5,442

621,041

Synovus

Financial

Corp.

11,766

555,826

Wintrust

Financial

Corp.

4,593

587,812

5,606,128

Health

Care

—

14.94%

Alkermes

plc

(a) 8,042

213,033

Axsome

Therapeutics,

Inc.

(a) 4,698

476,283

Cytokinetics,

Inc.

(a) 6,670

251,059

Denali

Therapeutics,

Inc.

(a) 18,250

252,398

Ensign

Group,

Inc.

(The)

3,871

580,650

Insmed,

Inc.

(a) 5,075

544,445

Ionis

Pharmaceuticals,

Inc.

(a) 5,637

242,278

Lantheus

Holdings,

Inc.

(a) 7,194

512,141

Madrigal

Pharmaceuticals,

Inc.

(a) 1,000

302,510

TG

Therapeutics,

Inc.

(a) 8,624

306,152

TransMedics

Group,

Inc.

(a) 3,939

468,623

Viking

Therapeutics,

Inc.

(a) 8,633

281,177

4,430,749

Industrials

—

16.38%

Applied

Industrial

Technologies,

Inc.

2,238

607,617

Cactus,

Inc.,

Class

A

7,756

328,156

Dana

Epiphany

Small

Cap

Equity

Fund

Schedule

of

Investments

(continued)

July

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

98.23%

-

(continued)

Shares

Fair

Value

Industrials

—

16.38%

-

(continued)

Clean

Harbors,

Inc.

(a) 2,280

$

537,646

FTI

Consulting,

Inc.

(a) 3,010

500,714

Hub

Group,

Inc.,

Class

A

12,949

453,474

Installed

Building

Products,

Inc.

2,373

480,034

MYR

Group,

Inc.

(a) 3,221

623,264

Powell

Industries,

Inc.

2,801

664,118

SPX

Technologies,

Inc.

(a) 3,637

663,352

4,858,375

Materials

—

3.76%

Avient

Corp.

10,813

341,366

Eagle

Materials,

Inc.

1,668

374,116

Element

Solutions,

Inc.

16,896

398,746

1,114,228

Real

Estate

—

5.16%

Agree

Realty

Corp.

7,032

504,195

STAG

Industrial,

Inc.

15,508

532,390

Tanger

Factory

Outlet

Centers,

Inc.

16,410

492,628

1,529,213

Technology

—

18.58%

Agilysys,

Inc.

(a) 5,312

605,992

CSG

Systems

International,

Inc.

8,511

531,596

ExlService

Holdings,

Inc.

(a) 11,002

477,817

Fabrinet

(a) 2,255

730,011

i3

Verticals,

Inc.,

Class

A

(a) 16,967

474,737

Integral

Ad

Science

Holding

Corp.

(a) 41,763

342,457

PDF

Solutions,

Inc.

(a) 18,887

419,858

SPS

Commerce,

Inc.

(a) 3,232

351,852

Ultra

Clean

Holdings,

Inc.

(a) 24,362

548,632

Veeco

Instruments,

Inc.

(a) 20,554

427,112

Verint

Systems,

Inc.

(a) 28,193

599,947

5,510,011

Utilities

—

2.94%

Chesapeake

Utilities

Corp.

3,474

416,463

Clearway

Energy,

Inc.,

Class

C

14,003

456,918

873,381

Total

Common

Stocks

(Cost $24,367,264)

29,131,694

MONEY

MARKET

FUNDS

—

1.80%

Fidelity

Investments

Money

Market

Government

Portfolio,

Institutional

Class,

4.26%

(b) 534,432

534,432

Total

Money

Market

Funds

(Cost

$534,432)

534,432

Total

Investments

—

100.03%

(Cost

$24,901,696)

29,666,126

Liabilities

in

Excess

of

Other

Assets — (0.03)%

(8,122)

NET

ASSETS

—

100.00%

$

29,658,004

Dana

Epiphany

Small

Cap

Equity

Fund

Schedule

of

Investments

(continued)

July

31,

2025

-

(Unaudited)

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

July

31,

2025. Dana

Epiphany

Equity

Fund

Schedule

of

Investments

July

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

98.93%

Shares

Fair

Value

Communications

—

9.80%

Alphabet,

Inc.,

Class

A

11,400

$

2,187,660

Alphabet,

Inc.,

Class

C

3,000

578,580

AT&T,

Inc.

37,000

1,014,170

Magnite,

Inc.

(a) 51,000

1,173,510

Meta

Platforms,

Inc.,

Class

A

2,800

2,165,632

7,119,552

Consumer

Discretionary

—

10.36%

Amazon.com,

Inc.

(a) 11,800

2,762,498

Autoliv,

Inc.

9,200

1,026,260

Genuine

Parts

Co.

8,000

1,031,040

PulteGroup,

Inc.

10,000

1,129,200

Tapestry,

Inc.

14,600

1,577,238

7,526,236

Consumer

Staples

—

5.19%

Kimberly-Clark

Corp.

9,600

1,196,352

Kroger

Co.

(The)

18,600

1,303,860

Sysco

Corp.

16,000

1,273,600

3,773,812

Energy

—

3.02%

Diamondback

Energy,

Inc.

7,600

1,129,816

Schlumberger

Ltd.

31,500

1,064,700

2,194,516

Financials

—

12.20%

American

Express

Co.

4,600

1,376,826

Bank

of

America

Corp.

32,000

1,512,640

Bank

of

New

York

Mellon

Corp.

(The)

17,000

1,724,650

JPMorgan

Chase

&

Co.

5,200

1,540,448

Reinsurance

Group

of

America,

Inc.

7,100

1,366,395

Visa,

Inc.,

Class

A

3,900

1,347,333

8,868,292

Health

Care

—

8.33%

Align

Technology,

Inc.

(a) 6,800

877,268

IQVIA

Holdings,

Inc.

(a) 7,000

1,301,020

ResMed,

Inc.

4,800

1,305,312

STERIS

plc

5,700

1,290,993

Zoetis,

Inc.,

Class

A

8,800

1,282,952

6,057,545

Industrials

—

7.33%

Clean

Harbors,

Inc.

(a) 4,600

1,084,726

Howmet

Aerospace,

Inc.

7,200

1,294,344

Johnson

Controls

International

plc

12,800

1,344,000

Vertiv

Holdings

Co.,

Class

A

11,000

1,601,600

5,324,670

Materials

—

1.92%

CRH

plc

14,600

1,393,570

Dana

Epiphany

Equity

Fund

Schedule

of

Investments

(continued)

July

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

98.93%

-

(continued)

Shares

Fair

Value

Real

Estate

—

1.99%

Iron

Mountain,

Inc.

8,000

$

778,880

STAG

Industrial,

Inc.

19,500

669,435

1,448,315

Technology

—

36.54%

Accenture

plc,

Class

A

4,800

1,282,080

Apple,

Inc.

19,000

3,943,830

Broadcom,

Inc.

6,500

1,909,050

Cisco

Systems,

Inc.

20,000

1,361,600

Fiserv,

Inc.

(a) 6,900

958,686

Lam

Research

Corp.

15,600

1,479,504

Microsoft

Corp.

9,900

5,281,650

NVIDIA

Corp.

32,500

5,780,775

ServiceNow,

Inc.

(a) 1,160

1,094,019

Synopsys,

Inc.

(a) 2,200

1,393,634

Uber

Technologies,

Inc.

(a) 10,000

877,500

Workday,

Inc.,

Class

A

(a) 5,200

1,192,776

26,555,104

Utilities

—

2.25%

Portland

General

Electric

Co.

19,000

781,280

PPL

Corp.

24,000

856,560

1,637,840

Total

Common

Stocks

(Cost $51,936,649)

71,899,452

MONEY

MARKET

FUNDS

—

1.10%

Fidelity

Investments

Money

Market

Government

Portfolio,

Institutional

Class,

4.26%

(b) 802,661

802,661

Total

Money

Market

Funds

(Cost

$802,661)

802,661

Total

Investments

—

100.03%

(Cost

$52,739,310)

72,702,113

Liabilities

in

Excess

of

Other

Assets — (0.03)%

(22,653)

NET

ASSETS

—

100.00%

$

72,679,460

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

July

31,

2025.

## 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:** DANA EPIPHANY SMALL CAP EQUITY FUND

- **b. EDGAR series identifier (if any):** S000051394

- **c. LEI of Series:** 5493005OGUYQV8N7HC77

**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:** $29704330.12

**Total Liabilities:** $50156.42

**Net Assets:** $29654173.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161987 | 5.24%                | 6.68%                | 1.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $252556.64               | $1124027.96                                |
| Month 2  | $9901.46                 | $1790565.87                                |
| Month 3  | $233347.58               | $286713.10                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ExlService Holdings Inc.             | ExlService Holdings, Inc.                                       | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     11002 | NS      | $477816.86    | 1.61%             |  |  |  | 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        |    534432 | PA      | $534432.23    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation       | Wintrust Financial Corp.                                        | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      4593 | NS      | $587812.14    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Denali Therapeutics Inc              | Denali Therapeutics, Inc.                                       | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |     18250 | NS      | $252397.50    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.             | Group 1 Automotive, Inc.                                        | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      1127 | NS      | $464493.05    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc.             | Axsome Therapeutics, Inc.                                       | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |      4698 | NS      | $476283.24    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                           | Insmed, Inc.                                                    | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      5075 | NS      | $544446.00    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc        | Weatherford International PLC                                   | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |      7286 | NS      | $412023.30    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                | Element Solutions, Inc.                                         | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     16896 | NS      | $398745.60    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc.               | Powell Industries, Inc.                                         | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |      2801 | NS      | $664117.10    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                        | SM Energy Co.                                                   | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     12743 | NS      | $351579.37    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc                  | Clearway Energy, Inc.                                           | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     14003 | NS      | $456917.89    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.             | Modine Manufacturing Co.                                        | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      5044 | NS      | $678720.64    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                           | Cactus, Inc.                                                    | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |      7756 | NS      | $328156.36    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                         | Evercore Partners, Inc.                                         | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      2507 | NS      | $754957.98    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc               | Boot Barn Holdings, Inc.                                        | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      3270 | NS      | $562113.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc                  | TG Therapeutics, Inc.                                           | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |      8624 | NS      | $306152.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                             | Fabrinet                                                        | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      2255 | NS      | $730011.15    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.               | Veeco Instruments, Inc.                                         | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     20554 | NS      | $427112.12    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                         | Agilysys, Inc.                                                  | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |      5312 | NS      | $605992.96    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals, Inc.          | Ionis Pharmaceuticals, Inc.                                     | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |      5637 | NS      | $242278.26    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Acushnet Holdings Corp               | Acushnet Holdings Corp.                                         | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |      6855 | NS      | $545795.10    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc.             | Viking Therapeutics, Inc.                                       | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |      8633 | NS      | $281176.81    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Company            | The Simply Good Foods Co.                                       | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11560 | NS      | $352117.60    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands Inc                   | Kontoor Brands, Inc.                                            | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |      7089 | NS      | $394573.74    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                | Lantheus Holdings, Inc.                                         | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      7194 | NS      | $512140.86    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                          | Magnite, Inc.                                                   | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     24460 | NS      | $562824.60    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                 | Eagle Materials, Inc.                                           | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      1668 | NS      | $374115.72    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                     | Cytokinetics, Inc.                                              | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |      6670 | NS      | $251058.80    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc             | Ultra Clean Holdings, Inc.                                      | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     24362 | NS      | $548632.24    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corporation                   | Avient Corp.                                                    | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     10813 | NS      | $341366.41    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                         | Alkermes PLC                                                    | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      8042 | NS      | $213032.58    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS Capital Holdings Limited        | Axis Capital Holdings Ltd.                                      | CUSIP: G0692U109<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |      5723 | NS      | $537046.32    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Verint Systems Inc                   | Verint Systems, Inc.                                            | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |     28193 | NS      | $599947.04    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Integral Ad Science Holding Corp.    | Integral Ad Science Holding Corp                                | CUSIP: 45828L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41763 | NS      | $342456.60    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corporation     | Chesapeake Utilities Corp.                                      | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |      3474 | NS      | $416463.12    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                    | Agree Realty Corp.                                              | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |      7032 | NS      | $504194.40    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation         | Stifel Financial Corp.                                          | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      5442 | NS      | $621041.04    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Grp Inc                          | MYR Group, Inc.                                                 | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      3221 | NS      | $623263.50    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                     | elf Beauty, Inc.                                                | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      4943 | NS      | $599042.17    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp.                     | South State Corp.                                               | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      5701 | NS      | $536863.17    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.               | SPX Technologies, Inc.                                          | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3637 | NS      | $663352.43    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                | STAG Industrial, Inc.                                           | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     15508 | NS      | $532389.64    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 Verticals INC                     | I3 Verticals, Inc.                                              | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |     16967 | NS      | $474736.66    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Primerica, Inc.                      | Primerica, Inc.                                                 | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      1966 | NS      | $522228.58    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc                     | Ensign Group, Inc./The                                          | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      3871 | NS      | $580650.00    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.               | TransMedics Group Inc                                           | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      3939 | NS      | $468622.83    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.              | Synovus Financial Corp                                          | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     11766 | NS      | $555825.84    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc.                    | PJT Partners, Inc.                                              | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |      2965 | NS      | $529608.30    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                | Civitas Resources, Inc.                                         | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      9431 | NS      | $286325.16    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International Inc.       | CSG Systems International, Inc.                                 | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |      8511 | NS      | $531597.06    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products Inc      | Installed Building Products, Inc.                               | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      2373 | NS      | $480034.17    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc         | Madrigal Pharmaceuticals, Inc.                                  | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |      1000 | NS      | $302510.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp       | Atlantic Union Bancshares Corp                                  | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16672 | NS      | $528502.40    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc.                          | Tanger Factory Outlet Centers, Inc.                             | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     16410 | NS      | $492628.20    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc                    | PDF Solutions, Inc.                                             | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |     18887 | NS      | $419858.01    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HUB Group Inc                        | Hub Group, Inc.                                                 | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12949 | NS      | $453473.98    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies Inc. | Applied Industrial Technologies, Inc.                           | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      2238 | NS      | $607617.00    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting, Inc.                 | FTI Consulting, Inc.                                            | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |      3010 | NS      | $500713.50    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                     | SPS Commerce, Inc.                                              | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |      3232 | NS      | $351851.68    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc.     | Pinnacle Financial Partners, Inc.                               | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |      4918 | NS      | $432243.02    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                  | Clean Harbors, Inc.                                             | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      2280 | NS      | $537646.80    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** Valued Advisers Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller