# EDGAR Filing Document

**Accession Number:** 0001199046
**File Stem:** 0000910472-25-004880
**Filing Date:** 2025-11
**Character Count:** 21540
**Document Hash:** ba4fb43ce2bccee2e5d99975e0ec17cd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-004880.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000910472-25-004880

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UNIFIED SERIES TRUST
- **CENTRAL INDEX KEY:** 0001199046

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21237
- **FILM NUMBER:** 251533249

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-346-3324

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### BALLAST SMALL/MID CAP ETF (Series ID: S000070046)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000222954 | BALLAST SMALL/MID CAP ETF | MGMT            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Unified Series Trust

- **b. Investment Company Act file number:** 811-21237

- **c. CIK number of Registrant:** 0001199046

- **d. LEI of Registrant:** 549300NFHRL589EP7U13

- **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:** BALLAST SMALL/MID CAP ETF

- **b. EDGAR series identifier (if any):** S000070046

- **c. LEI of Series:** 549300MWAM7TQ154AZ92

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

- **a. Date of fiscal year-end:** 2025-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $159886230.84

**Total Liabilities:** $307863.47

**Net Assets:** $159578367.37

**Cash Not Reported:** $2793624.40

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222954 | 2.96%                | 8.70%                | -0.47%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2416104.66              | $2216135.02                                |
| Month 2  | $4456378.12              | $8328271.68                                |
| Month 3  | $1169308.08              | $-1992558.43                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ecovyst Inc                               | Ecovyst, Inc.                             | CUSIP: 27923Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    399587 | NS      | $3500382.12   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ATN International Inc.                    | ATN International, Inc.                   | CUSIP: 00215F107<br>LEI: 54930013NP7VEU877V56 | Long             | EC               | CORP              | US        |     89509 | NS      | $1339949.73   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Business Travel Group inc          | Global Business Travel Group I            | CUSIP: 37890B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    342846 | NS      | $2770195.68   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bioceres Crop Solutions Corp              | Bioceres Crop Solutions Corporation       | CUSIP: G1117K114<br>LEI: 549300SBSSIZUVSY4U27 | Long             | EC               | CORP              | AR        |    565668 | NS      | $797591.88    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries                          | Cavco Industries, Inc.                    | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8901 | NS      | $5169077.73   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                            | EPR Properties                            | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     52587 | NS      | $3050571.87   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc.             | Collegium Pharmaceutical, Inc.            | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     80656 | NS      | $2822153.44   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Iradimed Corp.                            | iRadimed Corporation                      | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |     25292 | NS      | $1799778.72   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallus Inc.                             | Metallus, Inc.                            | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |    205236 | NS      | $3392551.08   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tripadvisor Inc                           | TripAdvisor, Inc.                         | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Long             | EC               | CORP              | US        |    128109 | NS      | $2083052.34   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Turning Point Brands Inc                  | Turning Point Brands, Inc.                | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |     47671 | NS      | $4712755.06   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                      | Eagle Materials, Inc.                     | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     14694 | NS      | $3424289.76   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Bancorp Inc.                      | Capital Bancorp, Inc.                     | CUSIP: 139737100<br>LEI: 549300LQKYGWQ7VP0C75 | Long             | EC               | CORP              | US        |    143903 | NS      | $4590505.70   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp                    | Hillman Solutions Corporation             | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    301300 | NS      | $2765934.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp.                     | MGIC Investment Corporation               | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    105882 | NS      | $3003872.34   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Resolute Holdings Management Inc          | Resolute Holdings Management, Inc.        | CUSIP: 76134H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11416 | NS      | $823664.40    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd.                              | Genpact Ltd.                              | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | US        |     54489 | NS      | $2282544.21   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferroglobe PLC                            | Ferroglobe plc                            | CUSIP: G33856108<br>LEI: 2138005GCFJACFTZUD90 | Long             | EC               | CORP              | GB        |    609348 | NS      | $2772533.40   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets, Incorporated              | Ingles Markets, Inc.                      | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |     22484 | NS      | $1563987.04   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                                   | AZZ, Inc.                                 | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     39502 | NS      | $4310853.26   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp                        | IPG Photonics Corporation                 | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |     23402 | NS      | $1853204.38   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kosmos Energy Ltd                         | Kosmos Energy Ltd.                        | CUSIP: 500688106<br>LEI: 213800YDFJ3OT9B5P157 | Long             | EC               | CORP              | US        |   1081027 | NS      | $1794504.82   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO Group Inc                             | GEO Group, Inc. (The)                     | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |    128862 | NS      | $2640382.38   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corporation | Federal Agricultural Mortgage Corporation | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | USGA              | US        |     26585 | NS      | $4465748.30   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corporation                        | Bruker Corporation                        | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     47341 | NS      | $1538109.09   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Composecure Inc                           | CompoSecure, Inc.                         | CUSIP: 20459V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    209339 | NS      | $4358437.98   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc.                     | Extreme Networks, Inc.                    | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     97185 | NS      | $2006870.25   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Criteo S.A                                | Criteo S.A.                               | CUSIP: 226718104<br>LEI: 969500EELFB4RDMFHA76 | Long             | EC               | CORP              | FR        |    128432 | NS      | $2902563.20   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Unit Corporation                          | Unit Corporation                          | CUSIP: 909218406<br>LEI: 549300XGK22FZCTN8B67 | Long             | EC               | CORP              | US        |     46817 | NS      | $1403807.75   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Epsilon Energy Limited                    | Epsilon Energy Ltd.                       | CUSIP: 294375209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    391557 | NS      | $1973447.28   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corporation                         | Terex Corporation                         | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     60370 | NS      | $3096981.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corporation                         | Cabot Corporation                         | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     20481 | NS      | $1557580.05   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold, Inc.                          | Royal Gold, Inc.                          | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     18892 | NS      | $3789357.36   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cass Information Systems Inc.             | Cass Information Systems, Inc.            | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |     36566 | NS      | $1438140.78   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                          | QuidelOrtho Corporation                   | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |     56501 | NS      | $1663954.45   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BEL Fuse Inc                              | Bel Fuse, Inc.                            | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |     36151 | NS      | $5098014.02   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc.                      | Landstar System, Inc.                     | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     23987 | NS      | $2939846.72   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                            | Amdocs Ltd.                               | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | US        |     13951 | NS      | $1144679.55   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| America's Car-Mart Inc.                   | America's Car-Mart, Inc.                  | CUSIP: 03062T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34550 | NS      | $1009205.50   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Natural Resource Partners L.P.            | Natural Resource Partners, L.P.           | CUSIP: 63900P608<br>LEI: 529900EECJ7CSX1S1S58 | Long             | EC               | CORP              | US        |     75868 | NS      | $7966140.00   | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Bausch Plus Lomb Corp.                    | Bausch + Lomb Corporation                 | CUSIP: 071705107<br>LEI: 549300NY6OZM39SO6475 | Long             | EC               | CORP              | CA        |    152029 | NS      | $2291077.03   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| RCM Technologies                          | RCM Technologies, Inc.                    | CUSIP: 749360400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98923 | NS      | $2626405.65   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowles Corporation                       | Knowles Corporation                       | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |    105808 | NS      | $2466384.48   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Merchants Bancorp. (Indiana)              | Merchants Bancorp                         | CUSIP: 58844R108<br>LEI: 54930008Y0GPVLF81889 | Long             | EC               | CORP              | US        |     95434 | NS      | $3034801.20   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Climb Global Solutions Inc                | Climb Global Solutions, Inc.              | CUSIP: 946760105<br>LEI: 549300LKM16VX2FG7J68 | Long             | EC               | CORP              | US        |     61102 | NS      | $8238993.68   | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure Inc         | Solaris Energy Infrastructure, Inc.       | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |    127628 | NS      | $5101291.16   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc             | Consensus Cloud Solutions, Inc.           | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85023 | NS      | $2497125.51   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc.                               | Phinia, Inc.                              | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     29788 | NS      | $1712214.24   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinks Company                            | Brink's Company (The)                     | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     36268 | NS      | $4238278.48   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources Inc.               | Core Natural Resources, Inc.              | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     35450 | NS      | $2959366.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc.                   | Patrick Industries, Inc.                  | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |     35183 | NS      | $3638977.69   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc.                   | Mueller Industries, Inc.                  | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     21377 | NS      | $2161428.47   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                  | Bank OZK                                  | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     46354 | NS      | $2363126.92   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                          | Donaldson Company, Inc.                   | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     25077 | NS      | $2052552.45   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** Unified Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller