# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-26-006110
**Filing Date:** 2026-4
**Character Count:** 34959
**Document Hash:** 688aba4caabc8843a3d6abe5d9ad6bdc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-006110.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000910472-26-006110

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**PERIOD START**: 20260531

**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:** 26906440

**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           |

## Nport-Ex

LS

Opportunity

Fund

Schedule

of

Investments

February

28,

2026

-

(Unaudited)

COMMON

STOCKS

-

LONG

-

DOMESTIC

—

72.49%

Shares

Fair

Value

Communication

Services

—

2.97%

Alphabet,

Inc.,

Class

A

9,000

$

2,805,840

Energy

—

2.26%

Exxon

Mobil

Corp.

14,000

2,135,000

Financials

—

47.77%

Ameriprise

Financial,

Inc.

4,000

1,880,480

Ameris

Bancorp

(a) 25,996

2,018,849

Axos

Financial,

Inc.

(a) (b) 23,000

1,996,860

Block,

Inc.

(b) 20,300

1,293,110

Cboe

Global

Markets,

Inc.

(a) 9,000

2,697,480

ConnectOne

Bancorp,

Inc.

77,000

2,042,810

Customers

Bancorp,

Inc.

(a) (b) 21,071

1,421,028

First

Citizens

BancShares,

Inc.,

Class

A

(a) (b) 925

1,755,789

First

Financial

Bancorp

(b) 45,000

1,263,150

Fiserv,

Inc.

(b) 22,000

1,370,380

Genworth

Financial,

Inc.,

Class

A

(b) 120,258

1,014,977

Global

Payments,

Inc.

(a) 27,700

2,117,942

Globe

Life,

Inc.

21,000

3,050,460

Interactive

Brokers

Group,

Inc.,

Class

A

(a) 28,000

1,993,320

Navient

Corp.

94,000

826,260

OFG

Bancorp

49,000

1,963,920

PJT

Partners,

Inc.,

Class

A

(a) 12,000

1,772,160

Primerica,

Inc.

(a) 10,700

2,714,162

SLM

Corp.

(a) 72,700

1,362,398

Stifel

Financial

Corp.

22,500

1,666,125

TFS

Financial

Corp.

145,000

2,032,900

UMB

Financial

Corp.

(a) 17,000

1,969,960

Visa,

Inc.,

Class

A

3,500

1,120,490

Western

Alliance

Bancorp

(a) 24,000

1,927,680

WEX,

Inc.

(b) 13,000

1,939,470

45,212,160

Health

Care

—

9.16%

Johnson

&

Johnson

(a) 14,000

3,478,020

Merck

&

Co.,

Inc.

(a) 23,000

2,847,860

Regeneron

Pharmaceuticals,

Inc.

3,000

2,345,010

8,670,890

Industrials

—

2.58%

CACI

International,

Inc.,

Class

A

(a) (b) 4,000

2,440,680

Information

Technology

—

5.16%

Hewlett

Packard

Enterprise

Co.

21,000

450,870

Littelfuse,

Inc.

(a) 7,000

2,467,220

Microsoft

Corp.

(a) 5,000

1,963,700

4,881,790

LS

Opportunity

Fund

Schedule

of

Investments

(continued)

February

28,

2026

-

(Unaudited)

COMMON

STOCKS

-

LONG

-

DOMESTIC

—

72.49%

-

continued

Shares

Fair

Value

Real

Estate

—

2.59%

Compass,

Inc.,

Class

A

(b) 66,011

$

643,607

St.

Joe

Co.

(The)

(b) 25,000

1,804,250

2,447,857

Total

Common

Stocks

-

Long

-

Domestic

(Cost $59,005,289)

68,594,217

COMMON

STOCKS

-

LONG

-

INTERNATIONAL

—

22.07%

Financials

—

13.52%

BNP

Paribas

S.A.

-

ADR

(b) 42,000

2,355,360

Fairfax

Financial

Holdings

Ltd.

2,700

4,646,660

London

Stock

Exchange

Group

PLC

16,212

1,935,879

Societe

Generale

S.A.

-

ADR

122,000

2,121,580

UBS

Group

A.G.

42,000

1,740,060

12,799,539

Industrials

—

5.27%

Eaton

Corp.

PLC

(a) 8,000

3,007,360

Pentair

PLC

(a) 20,000

1,983,800

4,991,160

Materials

—

3.28%

Agnico

Eagle

Mines

Ltd.

(a) 12,349

3,107,008

Total

Common

Stocks

-

Long

-

International

(Cost $14,886,531)

20,897,707

MONEY

MARKET

FUNDS

-

5.91%

Invesco

Treasury

Portfolio,

Institutional

Class,

3.56%

(c) 5,596,234

5,596,234

Total

Money

Market

Funds

(Cost

$5,596,234)

5,596,234

Total

Investments

—

100.47%

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$79,488,054)

95,088,158

Liabilities

in

Excess

of

Other

Assets — (0.47)%

(440,657)

NET

ASSETS

—

100.00%

$

94,647,501

(a) All

or

a

portion

of

the

security

is

held

as

collateral

for

securities

sold

short.

The

fair

value

of

this

collateral

on

February

28,

2026

was

$32,246,165.

(b) Non-income

producing

security.

(c) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. ADR

-

American

Depositary

Receipt

LS

Opportunity

Fund

Schedule

of

Securities

Sold

Short

February

28,

2026

-

(Unaudited)

COMMON

STOCKS

-

SHORT

-

DOMESTIC

-

(33.00)%

Shares

Fair

Value

Consumer

Discretionary

-

(5.42)%

Hilton

Grand

Vacations,

Inc.

(a) (33,174)

$

(1,491,503)

McDonald's

Corp.

(5,899)

(2,011,913)

Starbucks

Corp.

(16,620)

(1,629,092)

(5,132,508)

Consumer

Staples

-

(5.36)%

Post

Holdings,

Inc.

(a) (24,345)

(2,587,873)

Sysco

Corp.

(27,241)

(2,483,290)

(5,071,163)

Financials

-

(22.22)%

AGNC

Investment

Corp.

(95,000)

(1,064,950)

American

International

Group,

Inc.

(15,000)

(1,207,350)

Bank

of

America

Corp.

(45,000)

(2,242,350)

Berkshire

Hathaway,

Inc.,

Class

B

(a) (2,300)

(1,161,385)

First

Financial

Bankshares

,

Inc.

(32,700)

(1,011,411)

First

Horizon

National

Corp.

(45,000)

(1,070,550)

FlagStar

Bank,

N.A.

(81,300)

(1,031,697)

Huntington

Bancshares,

Inc.

(61,400)

(1,031,520)

JPMorgan

Chase

&

Co.

(6,200)

(1,861,860)

KeyCorp

(51,300)

(1,063,962)

Marsh

&

McLennan

Cos.,

Inc.

(10,532)

(1,966,746)

Prudential

Financial,

Inc.

(32,445)

(3,191,939)

Regions

Financial

Corp.

(39,500)

(1,099,285)

T. Rowe

Price

Group,

Inc.

(4,800)

(454,224)

Texas

Capital

Bancshares,

Inc.

(a) (5,000)

(476,500)

Truist

Financial

Corp.

(22,000)

(1,084,820)

(21,020,549)

TOTAL

COMMON

STOCKS

-

SHORT

-

DOMESTIC

(Proceeds

Received $31,405,798)

(31,224,220)

COMMON

STOCKS

-

SHORT

-

INTERNATIONAL

-

(8.38)%

Financials

-

(5.99)%

Aon

PLC,

Class

A

(4,302)

(1,443,192)

Bank

of

Nova

Scotia

(The)

(31,483)

(2,388,461)

RenaissanceRe

Holdings

Ltd.

(6,100)

(1,845,006)

(5,676,659)

Industrials

-

(2.39)%

Johnson

Controls

International

PLC

(15,704)

(2,266,087)

TOTAL

COMMON

STOCKS

-

SHORT

-

INTERNATIONAL

(Proceeds

Received $5,976,061)

(7,942,746)

EXCHANGE-TRADED

FUNDS

-

(5.22)%

Global

X

Nasdaq

Covered

Call

ETF

(48,000)

(844,320)

Global

X

S&P

500

Covered

Call

ETF

(48,000)

(1,955,040)

SPDR®

S&P®

Regional

Banking

ETF

(32,000)

(2,136,640)

TOTAL

EXCHANGE-TRADED

FUNDS

(Proceeds

Received $4,985,904)

(4,936,000)

LS

Opportunity

Fund

Schedule

of

Securities

Sold

Short

(continued)

February

28,

2026

-

(Unaudited)

TOTAL

SECURITIES

SOLD

SHORT

-

(46.60)%

(Proceeds

Received

$42,367,763)

$

(44,102,966)

(a) Non-dividend

expense

producing

security.

ETF

-

Exchange-Traded

Fund

SPDR

-

Standard

&

Poor's

Depositary

Receipt

The

sectors

shown

on

the

schedule

of

investments

and

schedule

of

securities

sold

short

are

based

on

the

Global

Industry

Classification

Standard,

or

GICS®

("GICS"). The

GICS

was

developed

by

and/or

is

the

exclusive

property

of

MSCI,

Inc.

and

Standard

&

Poor's

Financial

Services

LLC

("S&P"). GICS

is

a

service

mark

of

MSCI,

Inc.

and

S&P

and

has

been

licensed

for

use

by

Ultimus

Fund

Solutions,

LLC.

## 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:** 2026-05-31

- **b. Date as of which information is reported:** 2026-02-28

**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:** $139245954.21

**Total Liabilities:** $44354290.84

**Net Assets:** $94891663.37

**Cash Not Reported:** $43864038.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000089323 | 0.06%                | 1.55%                | -0.82%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $16229746.73             | $-16040272.69                              |
| Month 2  | $9528350.50              | $-6898548.11                               |
| Month 3  | $-266646.50              | $-492175.18                                |

**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        |    -24345 | NS      | $-2587873.50  | -2.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                          | Starbucks Corporation                          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Short            | EC               | CORP              | US        |    -16620 | NS      | $-1629092.40  | -1.72%            |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                    | Eaton Corp plc                                 | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      8000 | NS      | $3007360.00   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                     | JPMorgan Chase & Company                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Short            | EC               | CORP              | US        |     -6200 | NS      | $-1861860.00  | -1.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                | Block, Inc.                                    | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     20300 | NS      | $1293110.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                 | Visa, Inc.                                     | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3500 | NS      | $1120490.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                      | Global Payments, Inc.                          | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     27700 | NS      | $2117942.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                         | Merck & Company, Inc.                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     23000 | NS      | $2847860.00   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Navient Corporation                      | Navient Corporation                            | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |     94000 | NS      | $826260.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.          | Regeneron Pharmaceuticals, Inc.                | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      3000 | NS      | $2345010.00   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                              | OFG Bancorp                                    | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     49000 | NS      | $1963920.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                   | Agnico Eagle Mines Ltd.                        | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     12349 | NS      | $3107008.40   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc           | First Financial Bankshares, Inc.               | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Short            | EC               | CORP              | US        |    -32700 | NS      | $-1011411.00  | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                   | Truist Financial Corporation                   | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Short            | EC               | CORP              | US        |    -22000 | NS      | $-1084820.00  | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                 | Western Alliance Bancorp                       | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     24000 | NS      | $1927680.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                            | Alphabet, Inc.                                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      9000 | NS      | $2805840.00   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation             | Stifel Financial Corporation                   | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     22500 | NS      | $1666125.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC       | Johnson Controls International plc             | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Short            | EC               | CORP              | US        |    -15704 | NS      | $-2266087.20  | -2.39%            |  |  |  | No            |                  1 | On Loan: No      |
| TFS Financial Corp                       | TFS Financial Corporation                      | CUSIP: 87240R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145000 | NS      | $2032900.00   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc.                             | Compass, Inc.                                  | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |     66011 | NS      | $643607.25    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                           | Ameris Bancorp                                 | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     25996 | NS      | $2018849.36   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                  | Cboe Global Markets, Inc.                      | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      9000 | NS      | $2697480.00   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                    | Bank of America Corporation                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Short            | EC               | CORP              | US        |    -45000 | NS      | $-2242350.00  | -2.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                  | Customers Bancorp, Inc.                        | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     21071 | NS      | $1421028.24   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                | First Horizon Corporation                      | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Short            | EC               | CORP              | US        |    -45000 | NS      | $-1070550.00  | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc.                        | PJT Partners, Inc.                             | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |     12000 | NS      | $1772160.00   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                           | BNP Paribas S.A.                               | CUSIP: 05565A202<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     42000 | NS      | $2355360.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Price T Rowe Group Inc.                  | T Rowe Price Group, Inc.                       | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Short            | EC               | CORP              | US        |     -4800 | NS      | $-454224.00   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Primerica, Inc.                          | Primerica, Inc.                                | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     10700 | NS      | $2714162.00   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| St. Joe Co.                              | St Joe Company (The)                           | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     25000 | NS      | $1804250.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc.                  | Genworth Financial, Inc.                       | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    120258 | NS      | $1014977.52   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares, Inc.           | Texas Capital Bancshares, Inc.                 | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Short            | EC               | CORP              | US        |     -5000 | NS      | $-476500.00   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia                      | Bank of Nova Scotia (The)                      | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Short            | EC               | CORP              | CA        |    -31483 | NS      | $-2388461.03  | -2.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Connectone Bancorp Inc.                  | ConnectOne Bancorp, Inc.                       | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |     77000 | NS      | $2042810.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc.        | American International Group, Inc.             | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Short            | EC               | CORP              | US        |    -15000 | NS      | $-1207350.00  | -1.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                              | Fiserv, Inc.                                   | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     22000 | NS      | $1370380.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                           | Global X Nasdaq 100 Covered Call ETF USD Class | CUSIP: 37954Y483<br>LEI: 5493003RA4QUTSYF1N15 | Short            | EC               | RF                | US        |    -48000 | NS      | $-844320.00   | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp.                                | SLM Corporation                                | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72700 | NS      | $1362398.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Limited       | Fairfax Financial Holdings Ltd.                | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      2700 | NS      | $4646659.77   | 4.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                           | Global X S&P 500 Covered Call ETF USD Class    | CUSIP: 37954Y475<br>LEI: 5493003RA4QUTSYF1N15 | Short            | EC               | RF                | US        |    -48000 | NS      | $-1955040.00  | -2.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc                       | Axos Financial, Inc.                           | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     23000 | NS      | $1996860.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc            | Interactive Brokers Group, Inc.                | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     28000 | NS      | $1993320.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                        | Johnson & Johnson                              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     14000 | NS      | $3478020.00   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                        | Sysco Corporation                              | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Short            | EC               | CORP              | US        |    -27241 | NS      | $-2483289.56  | -2.62%            |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                  | KeyCorporation                                 | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Short            | EC               | CORP              | US        |    -51300 | NS      | $-1063962.00  | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Incorporated       | Huntington Bancshares Inc                      | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Short            | EC               | CORP              | US        |    -61400 | NS      | $-1031520.00  | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                        | SPDR S&P Regional Banking ETF                  | CUSIP: 78464A698<br>LEI: 5493004JVD6CQEEJSS37 | Short            | EC               | RF                | US        |    -32000 | NS      | $-2136640.00  | -2.25%            |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp.                      | UMB Financial Corporation                      | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     17000 | NS      | $1969960.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC          | London Stock Exchange Group PLC                | CUSIP: G5689U103<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     16212 | NS      | $1935878.60   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                       | STIT- Treasury Portfolio                       | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |   5596234 | PA      | $5596233.57   | 5.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                                  | WEX, Inc.                                      | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     13000 | NS      | $1939470.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                          | Microsoft Corporation                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      5000 | NS      | $1963700.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                  | Aon plc                                        | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Short            | EC               | CORP              | GB        |     -4302 | NS      | $-1443191.94  | -1.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corporation            | Regions Financial Corporation                  | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Short            | EC               | CORP              | US        |    -39500 | NS      | $-1099285.00  | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Bank National Association       | Flagstar Financial, Inc.                       | CUSIP: 649445400<br>LEI: SS1TRMSN6BRNMOREEV51 | Short            | EC               | CORP              | US        |    -81300 | NS      | $-1031697.00  | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale S.A.                    | Societe Generale S.A.                          | CUSIP: 83364L109<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |    122000 | NS      | $2121580.00   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Companies, Inc.         | Marsh & McLennan Companies, Inc.               | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |    -10532 | NS      | $-1966745.68  | -2.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc               | Hilton Grand Vacations, Inc.                   | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Short            | EC               | CORP              | US        |    -33174 | NS      | $-1491503.04  | -1.57%            |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc (Delaware) | First Citizens BancShares Inc                  | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       925 | NS      | $1755788.75   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                              | Pentair plc                                    | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | GB        |     20000 | NS      | $1983800.00   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc.                          | Littelfuse, Inc.                               | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      7000 | NS      | $2467220.00   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnc Investment Corp                     | AGNC Investment Corporation                    | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Short            | EC               | CORP              | US        |    -95000 | NS      | $-1064950.00  | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial, Inc.               | Ameriprise Financial, Inc.                     | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      4000 | NS      | $1880480.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp.                 | First Financial Bancorp                        | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     45000 | NS      | $1263150.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                             | UBS Group A.G.                                 | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     42000 | NS      | $1740060.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.                  | Berkshire Hathaway, Inc.                       | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Short            | EC               | CORP              | US        |     -2300 | NS      | $-1161385.00  | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.              | RenaissanceRe Holdings Ltd.                    | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Short            | EC               | CORP              | BM        |     -6100 | NS      | $-1845006.00  | -1.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co.           | Hewlett Packard Enterprise Company             | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     21000 | NS      | $450870.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                         | McDonald's Corporation                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Short            | EC               | CORP              | US        |     -5899 | NS      | $-2011912.94  | -2.12%            |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                  | CACI International, Inc.                       | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      4000 | NS      | $2440680.00   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life Inc                           | Globe Life, Inc.                               | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     21000 | NS      | $3050460.00   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.               | Prudential Financial, Inc.                     | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Short            | EC               | CORP              | US        |    -32445 | NS      | $-3191939.10  | -3.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                        | Exxon Mobil Corporation                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     14000 | NS      | $2135000.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-28

**Name of Applicant:** Valued Advisers Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer