# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0001752724-25-182880
**Filing Date:** 2025-7
**Character Count:** 36193
**Document Hash:** 934326c7d733c3c12336c9378932f11a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182880.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001752724-25-182880

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**PERIOD START**: 20250531

**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:** 251164201

**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

### LS Opportunity Fund (Series ID: S000029069)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000089323 | LS Opportunity Fund - Institutional Class | LSOFX           |

## 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:** LS OPPORTUNITY FUND

- **b. EDGAR series identifier (if any):** S000029069

- **c. LEI of Series:** 549300QQ64C1N4236K79

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $253874036.27

**Total Liabilities:** $62656949.47

**Net Assets:** $191217086.80

**Cash Not Reported:** $62241937.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000089323 | -1.19%               | -1.64%               | 2.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1386105.26              | $-3954664.90                               |
| Month 2  | $1401446.92              | $-4807585.50                               |
| Month 3  | $1759464.42              | $2092871.09                                |

**Designated Index Information**

- **Index Name:** LS OPPORTUNITY DRP

- **Index Identifier:** LS OPPORTUNITY DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Post Holdings Inc.                         | Post Holdings, Inc.                            | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Short            | EC               | CORP              | US        |    -30815 | NS      | $-3407830.85  | -1.78%            |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.               | Honeywell International, Inc.                  | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     11289 | NS      | $2558877.63   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation                 | Carrier Global Corp.                           | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     61237 | NS      | $4360074.40   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                      | Eaton Corp. PLC                                | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     19570 | NS      | $6266314.00   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                  | Prosperity Bancshares, Inc.                    | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55544 | NS      | $3868639.60   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                            | Home Depot, Inc./The                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8036 | NS      | $2959578.44   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc.                | Howard Hughes Holdings Inc                     | CUSIP: 44267T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29133 | NS      | $1990075.23   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                           | Merck & Co., Inc.                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     42166 | NS      | $3240035.44   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                           | Markel Corp.                                   | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Short            | EC               | CORP              | US        |     -1041 | NS      | $-2021309.70  | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc.                                | KENVUE INC                                     | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    122666 | NS      | $2928037.42   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                     | Agnico Eagle Mines Ltd.                        | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     15630 | NS      | $1844183.70   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Fed Fin In                         | Capitol Federal Financial, Inc.                | CUSIP: 14057J101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -218992 | NS      | $-1250444.32  | -0.65%            |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                  | Goldman Sachs Group, Inc./The                  | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Short            | EC               | CORP              | US        |     -2327 | NS      | $-1397247.15  | -0.73%            |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                  | Raytheon Technologies Corp.                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     17155 | NS      | $2341314.40   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                              | Alphabet, Inc.                                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     12111 | NS      | $2079943.14   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                           | Arthur J Gallagher & Co.                       | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     15870 | NS      | $5513872.80   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC         | Johnson Controls International PLC             | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Short            | EC               | CORP              | IE        |    -19878 | NS      | $-2015032.86  | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                        | Texas Roadhouse, Inc.                          | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     11156 | NS      | $2177762.76   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings, Inc.                          | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     18741 | NS      | $2783413.32   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                       | Keurig Dr Pepper, Inc.                         | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     70814 | NS      | $2384307.38   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                 | Unum Group                                     | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     25167 | NS      | $2056395.57   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION           | Walmart Inc. Put @ 85, Expiring December 2025  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       174 | NS      | $42543.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION           | U.S. Bancorp Call @ 45 January 2026            | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       131 | NS      | $36287.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| SouthState Corp.                           | South State Corp.                              | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     42749 | NS      | $3753362.20   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                             | Ameris Bancorp                                 | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     45547 | NS      | $2799774.09   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                    | Cboe Global Markets, Inc.                      | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     12000 | NS      | $2749440.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc.                          | PJT Partners, Inc.                             | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |     17630 | NS      | $2656135.80   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund                        | Vanguard Information Technology ETF            | CUSIP: 92204A702<br>LEI: 549300MP6BT0L4Q61L10 | Short            | EC               | RF                | US        |     -3786 | NS      | $-2295716.82  | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION           | CACI International,  Inc. Call @ 360 June 2025 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |        12 | NS      | $83100.00     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Primerica, Inc.                            | Primerica, Inc.                                | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     13111 | NS      | $3547836.60   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc.                        | Houlihan Lokey, Inc.                           | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Short            | EC               | CORP              | US        |     -9333 | NS      | $-1630288.44  | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Company                  | The Simply Good Foods Co.                      | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96374 | NS      | $3325866.74   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| St. Joe Co.                                | St. Joe Co.                                    | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     21600 | NS      | $965736.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                                | Paychex, Inc.                                  | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     12889 | NS      | $2035301.99   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                         | HCA Healthcare, Inc.                           | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Short            | EC               | CORP              | US        |     -4652 | NS      | $-1774226.28  | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Trimble Inc                                | Trimble, Inc.                                  | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     37389 | NS      | $2664714.03   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia                        | Bank of Nova Scotia/The                        | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Short            | EC               | CORP              | CA        |    -39852 | NS      | $-2132071.69  | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                     | Applied Materials, Inc.                        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      9370 | NS      | $1468747.50   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                              | Chevron Corp.                                  | CUSIP: 166764100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -12663 | NS      | $-1731032.10  | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                        | Abbott Laboratories                            | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     36489 | NS      | $4874200.62   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Financial Services Corp.        | Enterprise Financial Services Corp.            | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Short            | EC               | CORP              | US        |    -33778 | NS      | $-1788207.32  | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                            | Cigna Group/The                                | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      7867 | NS      | $2491006.88   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corporation                 | Kimberly-Clark Corp.                           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Short            | EC               | CORP              | US        |    -10118 | NS      | $-1454563.68  | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund                        | Vanguard Industrials ETF                       | CUSIP: 92204A603<br>LEI: 549300MP6BT0L4Q61L10 | Short            | EC               | RF                | US        |     -7801 | NS      | $-2101511.39  | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                  | Nestle SA                                      | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     30392 | NS      | $3239675.71   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION           | Murphy Oil Corp. Call @ 30 July 2025           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       538 | NS      | $5380.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                      | Colgate-Palmolive Co.                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     27733 | NS      | $2577505.02   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                            | Dollar Tree, Inc.                              | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Short            | EC               | CORP              | US        |    -22303 | NS      | $-2013068.78  | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                          | Everest Group, Ltd.                            | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     13578 | NS      | $4714145.82   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                     | Permian Resources Corp.                        | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    110666 | NS      | $1395498.26   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Limited         | Fairfax Financial Holdings Ltd.                | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      3722 | NS      | $6299535.62   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Platinum ETF Trust                   | Aberdeen Standard Physical Platinum Shares ETF | CUSIP: 003260106<br>LEI: N/A                  | Long             | EC               | RF                | US        |     17044 | NS      | $1649007.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.          | PNC Financial Services Group, Inc.             | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     36852 | NS      | $6405246.12   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                             | Citigroup, Inc.                                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     23852 | NS      | $1796532.64   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                          | Johnson & Johnson                              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     24096 | NS      | $3739940.16   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                          | Sysco Corp.                                    | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Short            | EC               | CORP              | US        |    -34481 | NS      | $-2517113.00  | -1.32%            |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation                | Progressive Corp./The                          | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     21178 | NS      | $6034247.54   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                          | Expedia, Inc.                                  | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |     14510 | NS      | $2419542.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Park National Corp                         | Park National Corp.                            | CUSIP: 700658107<br>LEI: 5493001T01TDELV5OO63 | Short            | EC               | CORP              | US        |     -5722 | NS      | $-930168.32   | -0.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc.                              | Teradyne, Inc.                                 | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     22407 | NS      | $1761190.20   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc | Fidelity National Information Services, Inc.   | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     37470 | NS      | $2982986.70   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc             | Fortune Brands Innovations Inc.                | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     30189 | NS      | $1521525.60   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                         | STIT- Treasury Portfolio                       | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  14484227 | PA      | $14484226.61  | 7.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.                   | Darden Restaurants, Inc.                       | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     14155 | NS      | $3032142.55   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.                       | PPG Industries, Inc.                           | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     28500 | NS      | $3157800.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                   | Industrial Select Sector SPDR Fund             | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Short            | EC               | RF                | US        |    -14944 | NS      | $-2134302.08  | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                            | Microsoft Corp.                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      7174 | NS      | $3302622.64   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited                       | Schlumberger Ltd.                              | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     72685 | NS      | $2402239.25   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                    | Aon PLC                                        | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Short            | EC               | CORP              | IE        |     -5444 | NS      | $-2025603.52  | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                       | Curtiss-Wright Corp.                           | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      4342 | NS      | $1910957.62   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                        | Walt Disney Co./The                            | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Short            | EC               | CORP              | US        |    -14815 | NS      | $-1674687.60  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION           | U.S. Bancorp Call 47.5 Spetember 2025          | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       325 | NS      | $31525.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.           | Marsh & McLennan Cos., Inc.                    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |     -8530 | NS      | $-1993119.80  | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Westpac Banking Corp.                      | Westpac Banking Corp.                          | CUSIP: Q97417101<br>LEI: EN5TNI6CI43VEPAMHL14 | Short            | EC               | CORP              | AU        |    -62281 | NS      | $-1306953.70  | -0.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc                 | Hilton Grand Vacations, Inc.                   | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Short            | EC               | CORP              | US        |    -27770 | NS      | $-1059980.90  | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                    | UnitedHealth Group, Inc.                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Short            | EC               | CORP              | US        |     -2704 | NS      | $-816364.64   | -0.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                                | Pentair PLC                                    | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     26755 | NS      | $2653560.90   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc.                            | Littelfuse, Inc.                               | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     12944 | NS      | $2654296.64   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbells Co.                          | Campbell Soup Co.                              | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Short            | EC               | CORP              | US        |    -30370 | NS      | $-1033794.80  | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.                    | Synovus Financial Corp                         | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Short            | EC               | CORP              | US        |    -23259 | NS      | $-1112477.97  | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares Inc                   | Northwest Bancshares, Inc.                     | CUSIP: 667340103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -150814 | NS      | $-1851995.92  | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.               | Mondelez International, Inc.                   | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     27333 | NS      | $1844704.17   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.                | RenaissanceRe Holdings Ltd.                    | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Short            | EC               | CORP              | BM        |     -7720 | NS      | $-1925522.40  | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                   | Energy Select Sector SPDR Fund                 | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Short            | EC               | RF                | US        |    -10759 | NS      | $-877181.27   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corporation     | Old Republic International Corp.               | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Short            | EC               | CORP              | US        |    -62777 | NS      | $-2372970.60  | -1.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd                                | Invesco Ltd.                                   | CUSIP: G491BT108<br>LEI: ECPGFXU8A2SHKVVGJI15 | Short            | EC               | CORP              | BM        |    -70463 | NS      | $-1018894.98  | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                           | McDonald's Corp.                               | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Short            | EC               | CORP              | US        |     -7467 | NS      | $-2343517.95  | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                    | CACI International, Inc.                       | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      7881 | NS      | $3373068.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life Inc                             | Globe Life, Inc.                               | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     43537 | NS      | $5305854.19   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                          | Brown & Brown, Inc.                            | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     62666 | NS      | $7074991.40   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corporation             | Zebra Technologies Corp.                       | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |      7485 | NS      | $2168928.45   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc.                    | Church & Dwight Co., Inc.                      | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     19777 | NS      | $1944276.87   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth Bank of Australia             | Commonwealth Bank of Australia                 | CUSIP: Q26915100<br>LEI: MSFSBD3QN1GSN7Q6C537 | Short            | EC               | CORP              | AU        |    -37815 | NS      | $-4288185.90  | -2.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                 | Prudential Financial, Inc.                     | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Short            | EC               | CORP              | US        |    -32652 | NS      | $-3392216.28  | -1.77%            |  |  |  | No            |                  1 | On Loan: No      |
| F N B Corp (Pennsylvania)                  | F.N.B. Corp.                                   | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    242443 | NS      | $3362684.41   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                          | Exxon Mobil Corp.                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     29792 | NS      | $3047721.60   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-31

**Name of Applicant:** Valued Advisers Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller