# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-26-001045
**Filing Date:** 2026-1
**Character Count:** 33059
**Document Hash:** 69b33f5aefc2cac132002e57590b0890
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-001045.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000910472-26-001045

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**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:** 26575498

**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:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $252308078.72

**Total Liabilities:** $57870005.95

**Net Assets:** $194438072.77

**Cash Not Reported:** $58805215.26

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000089323 | 0.32%                | -2.13%               | 2.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-412901.84              | $1002419.76                                |
| Month 2  | $343443.08               | $-4319493.91                               |
| Month 3  | $2440946.51              | $2276830.72                                |

**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        |    -31099 | NS      | $-3235228.97  | -1.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                            | Starbucks Corporation                         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Short            | EC               | CORP              | US        |    -21231 | NS      | $-1849432.41  | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation               | Northrop Grumman Corporation                  | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Short            | EC               | CORP              | US        |     -2535 | NS      | $-1450653.75  | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.               | Honeywell International, Inc.                 | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     13715 | NS      | $2635885.85   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation                 | Carrier Global Corporation                    | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     61801 | NS      | $3391638.88   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                      | Eaton Corp plc                                | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     19751 | NS      | $6831673.39   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                  | Prosperity Bancshares, Inc.                   | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56056 | NS      | $3851607.76   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                            | Home Depot, Inc. (The)                        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8110 | NS      | $2894621.20   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc.                | Howard Hughes Holdings, Inc.                  | CUSIP: 44267T102<br>LEI: 254900TY494BHXIU6M60 | Long             | EC               | CORP              | US        |     29402 | NS      | $2632361.06   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                           | Merck & Company, Inc.                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     42555 | NS      | $4461040.65   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.            | Regeneron Pharmaceuticals, Inc.               | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      4193 | NS      | $3271336.67   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials Inc.           | Solstice Advanced Materials, Inc.             | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |      3428 | NS      | $163447.04    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc.                                | Kenvue, Inc.                                  | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    100355 | NS      | $1741159.25   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                     | Agnico Eagle Mines Ltd.                       | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     15774 | NS      | $2751458.82   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Fed Fin In                         | Capitol Federal Financial, Inc.               | CUSIP: 14057J101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -221011 | NS      | $-1460882.71  | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                  | RTX Corporation                               | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     17314 | NS      | $3028391.74   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                              | Alphabet, Inc.                                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     17721 | NS      | $5673909.78   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                           | Arthur J Gallagher & Company                  | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      9610 | NS      | $2379628.20   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC         | Johnson Controls International plc            | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Short            | EC               | CORP              | US        |    -20061 | NS      | $-2333294.91  | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                        | Texas Roadhouse, Inc.                         | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     12431 | NS      | $2178532.75   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                  | First Horizon Corporation                     | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     92429 | NS      | $2064863.86   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                 | Unum Group                                    | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     40312 | NS      | $3062502.64   | 1.58%             |  |  |  | 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      | $348.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Allstate Corporation                   | Allstate Corporation (The)                    | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Short            | EC               | CORP              | US        |     -9537 | NS      | $-2031190.26  | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                             | Ameris Bancorp                                | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     45967 | NS      | $3482459.92   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Limited             | Axalta Coating Systems Ltd.                   | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | US        |     50363 | NS      | $1517437.19   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                    | Cboe Global Markets, Inc.                     | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     12111 | NS      | $3126696.87   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                      | Bank of America Corporation                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Short            | EC               | CORP              | US        |    -38508 | NS      | $-2065954.20  | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc.                          | PJT Partners, Inc.                            | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |     17792 | NS      | $2989233.92   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund                        | Vanguard Information Technology ETF           | CUSIP: 92204A702<br>LEI: 549300MP6BT0L4Q61L10 | Short            | EC               | RF                | US        |     -3821 | NS      | $-2874156.20  | -1.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Primerica, Inc.                            | Primerica, Inc.                               | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     13232 | NS      | $3404858.24   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| St. Joe Co.                                | St Joe Company (The)                          | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     65038 | NS      | $3923742.54   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                                | Paychex, Inc.                                 | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     13008 | NS      | $1452863.52   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                         | HCA Healthcare, Inc.                          | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Short            | EC               | CORP              | US        |     -4695 | NS      | $-2386421.55  | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Trimble Inc                                | Trimble, Inc.                                 | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     37733 | NS      | $3072220.86   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Southstate Bank Corp.                      | SOUTHSTATE BANK CORP                          | CUSIP: 84472E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46916 | NS      | $4199451.16   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia                        | Bank of Nova Scotia (The)                     | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Short            | EC               | CORP              | CA        |    -40219 | NS      | $-2789880.33  | -1.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                        | Abbott Laboratories                           | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     36825 | NS      | $4746742.50   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                            | Cigna Group (The)                             | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      9413 | NS      | $2610036.64   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                      | Colgate-Palmolive Company                     | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     27989 | NS      | $2250035.71   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                          | Everest Group Ltd.                            | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     15073 | NS      | $4737293.17   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                     | Permian Resources Corporation                 | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    111686 | NS      | $1618330.14   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                              | US Bancorp                                    | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     32500 | NS      | $1594125.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Limited         | Fairfax Financial Holdings Ltd.               | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      3757 | NS      | $6461814.58   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Platinum ETF Trust                   | abrdn Physical Platinum Shares ETF            | CUSIP: 003260106<br>LEI: N/A                  | Long             | EC               | RF                | US        |     11913 | NS      | $1817804.67   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.          | PNC Financial Services Group, Inc. (The)      | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     29130 | NS      | $5555673.60   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Incorporated                      | Comerica, Inc.                                | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Short            | EC               | CORP              | US        |    -30882 | NS      | $-2482295.16  | -1.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                             | Citigroup, Inc.                               | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     24072 | NS      | $2493859.20   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                          | Johnson & Johnson                             | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     24318 | NS      | $5031880.56   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                          | Sysco Corporation                             | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Short            | EC               | CORP              | US        |    -34799 | NS      | $-2651683.80  | -1.36%            |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation                | Progressive Corporation (The)                 | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     15916 | NS      | $3641421.64   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Park National Corp                         | Park National Corporation                     | CUSIP: 700658107<br>LEI: 5493001T01TDELV5OO63 | Short            | EC               | CORP              | US        |     -5775 | NS      | $-886751.25   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.          | Booz Allen Hamilton Holding Corporation       | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     16707 | NS      | $1394366.22   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC            | London Stock Exchange Group PLC               | CUSIP: G5689U103<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     20897 | NS      | $2464100.55   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc | Fidelity National Information Services, Inc.  | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     37816 | NS      | $2487158.32   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                         | STIT- Treasury Portfolio                      | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  14193061 | PA      | $14193060.97  | 7.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.                   | Darden Restaurants, Inc.                      | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     11430 | NS      | $2052599.40   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.                       | PPG Industries, Inc.                          | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     14381 | NS      | $1438675.24   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                            | Microsoft Corporation                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      7240 | NS      | $3562152.40   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd.                                   | Schlumberger N.V.                             | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     73355 | NS      | $2658385.20   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                    | Aon plc                                       | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Short            | EC               | CORP              | GB        |     -5495 | NS      | $-1944790.40  | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                       | Curtiss-Wright Corporation                    | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      3153 | NS      | $1779206.37   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation                | Lockheed Martin Corporation                   | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Short            | EC               | CORP              | US        |     -3129 | NS      | $-1432643.94  | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Companies, Inc.           | Marsh & McLennan Companies, Inc.              | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |    -13454 | NS      | $-2468136.30  | -1.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Westpac Banking Corp.                      | Westpac Banking Corporation                   | CUSIP: Q97417101<br>LEI: EN5TNI6CI43VEPAMHL14 | Short            | EC               | CORP              | AU        |    -89566 | NS      | $-2204692.52  | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc                 | Hilton Grand Vacations, Inc.                  | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Short            | EC               | CORP              | US        |    -42379 | NS      | $-1815092.57  | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                    | UnitedHealth Group, Inc.                      | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Short            | EC               | CORP              | US        |     -4089 | NS      | $-1348429.53  | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                                | Pentair plc                                   | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | GB        |     27002 | NS      | $2841690.48   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc.                            | Littelfuse, Inc.                              | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     13064 | NS      | $3344645.28   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                    | KeyCorporation                                | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    112957 | NS      | $2076149.66   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares Inc                   | Northwest Bancshares, Inc.                    | CUSIP: 667340103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -152204 | NS      | $-1820359.84  | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.               | Mondelez International, Inc.                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     27585 | NS      | $1588068.45   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.                | RenaissanceRe Holdings Ltd.                   | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Short            | EC               | CORP              | BM        |     -7791 | NS      | $-2034775.47  | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                   | Energy Select Sector SPDR Fund                | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Short            | EC               | RF                | US        |    -10858 | NS      | $-982106.10   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc.                  | MarketAxess Holdings, Inc.                    | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |     14204 | NS      | $2327893.56   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corporation     | Old Republic International Corporation        | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Short            | EC               | CORP              | US        |    -63356 | NS      | $-2920711.60  | -1.50%            |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                           | McDonald's Corporation                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Short            | EC               | CORP              | US        |     -7535 | NS      | $-2349563.70  | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                    | CACI International, Inc.                      | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      8168 | NS      | $5040472.80   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life Inc                             | Globe Life, Inc.                              | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     43938 | NS      | $5919766.74   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                          | Brown & Brown, Inc.                           | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     42374 | NS      | $3408140.82   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corporation             | Zebra Technologies Corporation                | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |      8649 | NS      | $2186034.75   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc.                    | Church & Dwight Company, Inc.                 | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     23381 | NS      | $1991125.96   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc.                        | Ally Financial, Inc.                          | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Short            | EC               | CORP              | US        |    -37438 | NS      | $-1546189.40  | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth Bank of Australia             | Commonwealth Bank of Australia                | CUSIP: Q26915100<br>LEI: MSFSBD3QN1GSN7Q6C537 | Short            | EC               | CORP              | AU        |    -25047 | NS      | $-2501419.66  | -1.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                 | Prudential Financial, Inc.                    | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Short            | EC               | CORP              | US        |    -32953 | NS      | $-3567162.25  | -1.83%            |  |  |  | No            |                  1 | On Loan: No      |
| F N B Corp (Pennsylvania)                  | FNB Corp                                      | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    244678 | NS      | $4071441.92   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                          | Exxon Mobil Corporation                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     30067 | NS      | $3485366.64   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

**Name of Applicant:** Valued Advisers Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer