# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001193125-26-247409
**Filing Date:** 2026-5
**Character Count:** 26407
**Document Hash:** 23bffb12849be95b51cda503490fe520
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-247409.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001193125-26-247409

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07959
- **FILM NUMBER:** 261041588

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 626-914-7235

**MAIL ADDRESS:**
- **STREET 1:** 615 E MICHIGAN STREET
- **STREET 2:** MK-WI-LC2
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Scharf Multi-Asset Opportunity Fund (Series ID: S000039497)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000121649 | Institutional Class | LOGOX           |
| C000168063 | Retail Class        | LOGBX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-07959

- **c. CIK number of Registrant:** 0001027596

- **d. LEI of Registrant:** 52990049R7AUMMLE0J29

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 626-914-7363

**Item A.2. Information about the Series.**

- **a. Name of Series:** Scharf Multi-Asset Opportunity Fund

- **b. EDGAR series identifier (if any):** S000039497

- **c. LEI of Series:** 549300U6RYVPCF8PMC39

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $48482771.66

**Total Liabilities:** $123341.66

**Net Assets:** $48359430.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121649 | 2.68%                | 4.61%                | -7.80%               |
| Class ID C000168063 | 2.63%                | 4.60%                | -7.82%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1876706.89              | $-560548.19                                |
| Month 2  | $444978.67               | $1865538.84                                |
| Month 3  | $31087.09                | $-4230515.34                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063DRD2<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    145000 | PA      | $144022.44    | 0.30%             | 2026-10-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Centene Corp                   | Centene Corp                                                                 | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     17800 | NS      | $582772.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp             | Franco-Nevada Corp                                                           | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      6995 | NS      | $1728114.75   | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS CAPITAL II       | Goldman Sachs Capital II                                                     | CUSIP: 381427AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1001000 | PA      | $775612.64    | 1.60%             | 2026-05-01      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| OREGON ST                      | State of Oregon                                                              | CUSIP: 68609UGZ2<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    300000 | PA      | $292724.25    | 0.61%             | 2043-08-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SAN JOSE CA REDEV AGY SUCCESSO | San Jose Redevelopment Agency Successor Agency                               | CUSIP: 798170AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249380.30    | 0.52%             | 2026-08-01      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY          | Tennessee Valley Authority                                                   | CUSIP: 880591409<br>LEI: 549300HE1ISW43LNKM54 | Long             | EP               | USGA              | US        |     33100 | NS      | $802675.00    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway Inc                                                       | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      2819 | NS      | $1350864.80   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                | CVS Health Corp                                                              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      7467 | NS      | $536279.94    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063BN81<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |     15000 | PA      | $14504.07     | 0.03%             | 2039-04-01      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| COCA-COLA REFRESH USA          | Coca-Cola Refreshments USA LLC                                               | CUSIP: 191219BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $132764.06    | 0.27%             | 2028-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                                                           | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2313 | NS      | $1323336.69   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FANNIE MAE                     | Federal National Mortgage Association                                        | CUSIP: 313586752<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | USGSE             | US        |     50400 | NS      | $599760.00    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund                                     | CUSIP: 31846V542<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |    937380 | NS      | $937379.79    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                     | Kenvue Inc                                                                   | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |         1 | NS      | $17.24        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe Inc                                                                    | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      4080 | NS      | $991766.40    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                                                                | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      4020 | NS      | $1187307.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE & | California Infrastructure & Economic Development Bank                        | CUSIP: 13034AB74<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    130000 | PA      | $129777.79    | 0.27%             | 2026-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST                     | State of Georgia                                                             | CUSIP: 373384L95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15002.81     | 0.03%             | 2029-02-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Markel Group Inc               | Markel Group Inc                                                             | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       713 | NS      | $1364731.91   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                                                     | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      4680 | NS      | $811746.00    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                                                                | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2530 | NS      | $2189360.80   | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY OIL USA INC             | Murphy Oil USA Inc                                                           | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    557000 | PA      | $557594.43    | 1.15%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063D3Q9<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    200000 | PA      | $214276.18    | 0.44%             | 2030-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063DMA3<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.41%             | 2026-04-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc       | Agilent Technologies Inc                                                     | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      9033 | NS      | $1029581.34   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc                                                         | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       271 | NS      | $1140996.72   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063DGE2<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    200000 | PA      | $202379.32    | 0.42%             | 2038-04-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Hershey Co/The                 | Hershey Co/The                                                               | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      5172 | NS      | $1075207.08   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp           | Lockheed Martin Corp                                                         | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      1077 | NS      | $650928.03    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| LOS ANGELES CA UNIF SCH DIST   | Los Angeles Unified School District/CA                                       | CUSIP: 544646A77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $233949.08    | 0.48%             | 2027-05-01      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp            | Otis Worldwide Corp                                                          | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     15686 | NS      | $1209076.88   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SAN FRANCISCO CA CITY &CNTY AR | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DSY6<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    180000 | PA      | $173867.31    | 0.36%             | 2028-05-01      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY          | Tennessee Valley Authority                                                   | CUSIP: 880591300<br>LEI: 549300HE1ISW43LNKM54 | Long             | EP               | USGA              | US        |     32700 | NS      | $801150.00    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc                                                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1495 | NS      | $734837.35    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                        | Aon PLC                                                                      | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | GB        |      2738 | NS      | $883771.64    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                                                              | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     33651 | NS      | $1361855.97   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOPCO INC                    | Conopco Inc                                                                  | CUSIP: 126149AD5<br>LEI: 549300DWD4D3B5EZJC04 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153291.12    | 0.32%             | 2026-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063A5E0<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    150000 | PA      | $172439.69    | 0.36%             | 2034-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP           | Lockheed Martin Corp                                                         | CUSIP: 539830AK5<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    300000 | PA      | $343410.25    | 0.71%             | 2029-12-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                                                           | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      6246 | NS      | $1515404.52   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                                                  | CUSIP: 912797TP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $247181.99    | 0.51%             | 2026-07-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| U-Haul Holding Co              | U-Haul Holding Co                                                            | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     16142 | NS      | $721063.14    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST                  | State of California                                                          | CUSIP: 13063D3S5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150641.82    | 0.31%             | 2038-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co/The                                                           | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      8049 | NS      | $775762.62    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GDL FD CUM RED PFD SE G        | GDL FD CUM RED PFD SE G                                                      | CUSIP: 361570609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     40000 | NS      | $400000.00    | 0.83%             |  |  |  | No            |                  3 | On Loan: No      |
| iShares Silver Trust           | iShares Silver Trust                                                         | CUSIP: 46428Q109<br>LEI: 549300K2C2CG14B0ZA09 | Long             | EC               | RF                | US        |     36835 | NS      | $2509936.90   | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                                                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3747 | NS      | $1387026.99   | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                    | Novartis AG                                                                  | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      7704 | NS      | $1176786.00   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp      | Occidental Petroleum Corp                                                    | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     39465 | NS      | $2565225.00   | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                                                   | CUSIP: Y74718118<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |     26643 | NS      | $1983026.15   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Properties Inc           | Orion Properties Inc                                                         | CUSIP: 68629Y103<br>LEI: 254900ZBXYX11W8ZL437 | Long             | EC               | CORP              | US        |         1 | NS      | $2.15         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Gold Shares               | SPDR Gold Shares                                                             | CUSIP: 78463V107<br>LEI: N/A                  | Long             | EC               | RF                | US        |      6143 | NS      | $2643271.47   | 5.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SAN JOSE CA                    | City of San Jose CA                                                          | CUSIP: 798135F20<br>LEI: 549300QHIHSH68W22O38 | Long             | DBT              | MUN               | US        |    175000 | PA      | $172166.54    | 0.36%             | 2027-09-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CKY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $250558.58    | 0.52%             | 2026-06-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds                               | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550217 | PA      | $548412.11    | 1.13%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc                                                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1994 | NS      | $539556.46    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                                                     | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4340 | NS      | $1311721.60   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                                                                   | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     10203 | NS      | $1206096.63   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                      | Chubb Ltd                                                                    | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      2885 | NS      | $940308.05    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Kevin Hayden

**Name of Signer:** Advisors Series Trust

**Title:** Treasurer & Vice President