# EDGAR Filing Document

**Accession Number:** 0001396092
**File Stem:** 0001752724-25-214962
**Filing Date:** 2025-9
**Character Count:** 64990
**Document Hash:** 5ba14d95b05cb663fae5d67dd2f4fbb6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-214962.hdr.sgml**: 20250912

**ACCESSION NUMBER**: 0001752724-25-214962

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250912

**DATE AS OF CHANGE**: 20250912

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** World Funds Trust
- **CENTRAL INDEX KEY:** 0001396092

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22172
- **FILM NUMBER:** 251310740

**BUSINESS ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235
- **BUSINESS PHONE:** 804-267-7400

**MAIL ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Abacus World Funds Trust
- **DATE OF NAME CHANGE:** 20070410

## Series and Classes Contracts Data

### Applied Finance Explorer Fund (Series ID: S000049148)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000154944 | Investor Class      | AFDVX           |
| C000154945 | Institutional Class | AFDZX           |

## Nport-Ex

**APPLIED FINANCE EXPLORER FUND**

**Schedule of Investments**

**July 31, 2025 (unaudited)**

**99.47% COMMON STOCKS**

**3.37% COMMUNICATION SERVICES CarGurus, Inc.<sup>(A)</sup>**

**John Wiley & Sons, Inc. Class A**

**Sinclair, Inc.**

**TEGNA, Inc.**

**Ziff Davis, Inc.<sup>(A)</sup>**

**10.61% CONSUMER DISCRETIONARY**

**Asbury Automotive Group, Inc.<sup>(A)</sup>**

**Dana, Inc.**

**Frontdoor, Inc.<sup>(A)</sup>**

**G-III Apparel Group Ltd.<sup>(A)</sup>**

**Green Brick Partners, Inc.<sup>(A)</sup>**

**Group 1 Automotive, Inc.**

**Hilton Grand Vacations, Inc.<sup>(A)</sup>**

**Hovnanian Enterprises, Inc.<sup>(A)</sup>**

**KB Home**

**Monarch Casino & Resort, Inc.**

**Patrick Industries, Inc.**

**Phinia, Inc.**

**Sally Beauty Holdings, Inc.<sup>(A)</sup>**

**Stride, Inc.<sup>(A)</sup>**

**Taylor Morrison Home Corp.<sup>(A)</sup>**

**Upbound Group, Inc.**

**2.37% CONSUMER STAPLES**

**The Andersons, Inc**

**BellRing Brands, Inc.<sup>(A)</sup>**

**Performance Food Group Co.<sup>(A)</sup>**

---

| | |
|:---|:---|
| **Shares** | **Value** |
| **202746** | $**6654124** |
| **154902** | **5979217** |
| **334556** | **4837680** |
| **376883** | **6293946** |
| **171785** | **5345949** |
|  | **29110916** |
| **21000** | **4664520** |
| **416417** | **6629359** |
| **125304** | **7330284** |
| **164220** | **3875592** |
| **76371** | **4730420** |
| **14811** | **6104354** |
| **140888** | **6314600** |
| **24481** | **2924745** |
| **83673** | **4623770** |
| **70000** | **7207200** |
| **86526** | **8413788** |
| **135083** | **6848708** |
| **457929** | **4460228** |
| **54895** | **7039186** |
| **116264** | **6892130** |
| **169517** | **3497983** |
|  | **91556867** |
| **149968** | **5386851** |
| **115347** | **6295639** |
| **87136** | **8748454** |
|  | **20430944** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**APPLIED FINANCE EXPLORER FUND** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**APPLIED FINANCE EXPLORER FUND** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Schedule of Investments** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**July 31, 2025 (unaudited)** |  |  |
|  |  | **Shares** | **Value** |
| **6.96%** | **ENERGY** |  |  |
|  | **Antero Resources Corp.<sup>(A)</sup>** | **164401** | $**5742527** |
|  | **Civitas Resources, Inc.** | **160265** | **4865645** |
|  | **Dorian LPG Ltd.** | **207272** | **5967361** |
|  | **Gulfport Energy Corp.<sup>(A)</sup>** | **39494** | **6877090** |
|  | **International Seaways, Inc.** | **144115** | **5750188** |
|  | **Liberty Energy, Inc.** | **312284** | **3853585** |
|  | **Murphy Oil Corp.** | **150012** | **3721798** |
|  | **Peabody Energy Corporation** | **287001** | **4635066** |
|  | **Permian Resources Corp.** | **370699** | **5249098** |
|  | **Schlumberger Ltd.** | **171424** | **5794131** |
|  | **SM Energy Co.** | **128560** | **3546970** |
|  | **Weatherford International plc** | **71785** | **4059442** |
|  |  |  | **60062901** |
| **26.92%** | **FINANCIALS** |  |  |
|  | **Arbor Realty Trust, Inc. REIT** | **634359** | **7079446** |
|  | **ARMOUR Residential REIT, Inc.** | **380850** | **6211664** |
|  | **Axos Financial, Inc.<sup>(A)</sup>** | **102451** | **8846644** |
|  | **The Bancorp, Inc<sup>(A)</sup>** | **124423** | **7858557** |
|  | **CNO Financial Group, Inc.** | **193031** | **7111262** |
|  | **Columbia Banking System, Inc.** | **284134** | **6762389** |
|  | **Customers Bancorp, Inc.<sup>(A)</sup>** | **125197** | **7981309** |
|  | **Donnelley Financial Solutions<sup>(A)</sup>** | **107832** | **5710783** |
|  | **Dynex Capital, Inc.** | **417651** | **5195578** |
|  | **Enact Holdings, Inc.** | **177080** | **6155301** |
|  | **Enova International, Inc.<sup>(A)</sup>** | **81427** | **8514007** |
|  | **F&G Annuities & Life, Inc.** | **143563** | **4581095** |
|  | **Federated Hermes, Inc.** | **136146** | **6748757** |
|  | **Hancock Whitney Corp.** | **118768** | **7092825** |
|  | **HCI Group, Inc.** | **52331** | **7328433** |
|  | **Jackson Financial, Inc.** | **88150** | **7718414** |
|  | **MFA Financial, Inc.** | **666811** | **6061312** |
|  | **Mr. Cooper Group, Inc.<sup>(A)</sup>** | **49069** | **7641025** |
|  | **Navient Corp.** | **458786** | **5936691** |
|  | **NCR Atleos Corp.<sup>(A)</sup>** | **198483** | **6073580** |
|  | **NMI Holdings, Inc.<sup>(A)</sup>** | **181202** | **6762459** |
|  | **Old National Bancorp of Indiana** | **257113** | **5427655** |

---

**APPLIED FINANCE EXPLORER FUND**

**Schedule of Investments**

**July 31, 2025 (unaudited)**

**FINANCIALS Continued**

**Pathward Financial, Inc.**

**PennyMac Financial Services, Inc.**

**PennyMac Mortgage Investment Trust**

**PJT Partners, Inc.**

**Preferred Bank**

**Prog Holdings, Inc.**

**QCR Holdings, Inc.**

**Radian Group, Inc.**

**Rithm Capital Corp.**

**SLM Corp.**

**StoneX Group, Inc.<sup>(A)</sup>**

**Victory Capital Holdings, Inc. Class A**

**9.97% HEALTH CARE**

**Amneal Pharmaceuticals, Inc.<sup>(A)</sup>**

**Amphastar Pharmaceuticals, Inc.<sup>(A)</sup>**

**ANI Pharmaceuticals, Inc.<sup>(A)</sup>**

**Catalyst Pharmaceuticals, Inc.<sup>(A)</sup>**

**Collegium Pharmaceutical, Inc.<sup>(A)</sup>**

**The Ensign Group, Inc**

**Halozyme Therapeutics, Inc.<sup>(A)</sup>**

**Harmony Biosciences Holdings, Inc.<sup>(A)</sup>**

**Innoviva, Inc.<sup>(A)</sup>**

**Lantheus Holdings, Inc.<sup>(A)</sup>**

**Pediatrix Medical Group Inc. <sup>(A)</sup>**

**Owens & Minor, Inc.<sup>(A)</sup>**

**Prestige Consumer Healthcare Inc.<sup>(A)</sup>**

**Supernus Pharmaceuticals, Inc.<sup>(A)</sup>**

**Tenet Healthcare Corp.<sup>(A)</sup>**

**United Therapeutics Corp.<sup>(A)</sup>**

**Waystar Holding Corp.<sup>(A)</sup>**

---

| | |
|:---|:---|
| **Shares** | **Value** |
| **95243** | $**7202752** |
| **52585** | **4897767** |
| **498194** | **5873707** |
| **42077** | **7515794** |
| **71757** | **6516971** |
| **207497** | **6606704** |
| **70000** | **4970000** |
| **211816** | **6907320** |
| **523321** | **6295552** |
| **244540** | **7776372** |
| **110328** | **10728295** |
| **119170** | **8212005** |
|  | **232302425** |
| **606953** | **4746372** |
| **175516** | **3677060** |
| **77956** | **4938513** |
| **266124** | **5676425** |
| **165208** | **4933111** |
| **46835** | **7025250** |
| **92701** | **5559279** |
| **127823** | **4496813** |
| **250000** | **4542500** |
| **63139** | **4494865** |
| **410000** | **5022500** |
| **399411** | **2767918** |
| **74617** | **5517927** |
| **190998** | **6704030** |
| **37704** | **6080901** |
| **19993** | **5492077** |
| **118965** | **4399326** |
|  | **86074867** |

---

**APPLIED FINANCE EXPLORER FUND**

**Schedule of Investments**

**July 31, 2025 (unaudited)**

**16.38% INDUSTRIALS**

**Alight, Inc.**

**American Woodmark Corp.<sup>(A)</sup>**

**API Group Corp.<sup>(A)</sup>**

**Atmus Filtration Technologies, Inc.**

**BrightView Holdings, Inc.<sup>(A)</sup>**

**Builders FirstSource, Inc.<sup>(A)</sup>**

**Comfort Systems USA, Inc.**

**CSG Systems International, Inc.**

**Genco Shipping & Trading Ltd.**

**GMS, Inc.<sup>(A)</sup>**

**The Greenbrier Companies, Inc**

**Herc Holdings, Inc.**

**Hillman Solutions Corp.<sup>(A)</sup>**

**Huron Consulting Group, Inc.<sup>(A)</sup>**

**Janus International Group, Inc.<sup>(A)</sup>**

**Maximus, Inc.**

**SkyWest, Inc.<sup>(A)</sup>**

**Sterling Infrastructure, Inc.<sup>(A)</sup>**

**Terex Corp.**

**Verra Mobility Corp.<sup>(A)</sup>**

**7.33% INFORMATION TECHNOLOGY**

**ACI Worldwide, Inc.<sup>(A)</sup>**

**Adeia, Inc.**

**ASGN, Inc.<sup>(A)</sup>**

**Consensus Cloud Solutions, Inc.<sup>(A)</sup>**

**Diebold Nixdorf, Inc.<sup>(A)</sup>**

**Insight Enterprises, Inc.<sup>(A)</sup>**

**InterDigital, Inc.**

**Netgear, Inc.<sup>(A)</sup>**

**OSI Systems, Inc.<sup>(A)</sup>**

**Progress Software Corp.**

**ScanSource, Inc.<sup>(A)</sup>**

**Xerox Corporation**

---

| | |
|:---|:---|
| **Shares** | **Value** |
| **740000** | $**3966400** |
| **105722** | **5562034** |
| **205751** | **7421439** |
| **138668** | **5395572** |
| **366850** | **5851258** |
| **44480** | **5654742** |
| **18782** | **13209381** |
| **119223** | **7446669** |
| **451237** | **7188205** |
| **78892** | **8649719** |
| **137314** | **6247787** |
| **46055** | **5379685** |
| **829197** | **6542364** |
| **45563** | **6017961** |
| **769856** | **6597666** |
| **78306** | **5783681** |
| **75409** | **8744428** |
| **48205** | **12899176** |
| **136165** | **6925352** |
| **233157** | **5889546** |
|  | **141373065** |
| **132613** | **5644009** |
| **341035** | **4416403** |
| **113954** | **5713654** |
| **108472** | **2188965** |
| **105388** | **5932291** |
| **48617** | **5765004** |
| **33766** | **8718381** |
| **225289** | **5237969** |
| **33301** | **7359854** |
| **96681** | **4648422** |
| **150259** | **5836060** |
| **440256** | **1783037** |
|  | **63244049** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**APPLIED FINANCE EXPLORER FUND** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**APPLIED FINANCE EXPLORER FUND** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Schedule of Investments** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**July 31, 2025 (unaudited)** |  |  |
|  |  | **Shares** | **Value** |
| **3.54%** | **MATERIALS** |  |  |
|  | **Alpha Metallurgical Resources<sup>(A)</sup>** | **51967** | $**6135744** |
|  | **Commercial Metals Co.** | **140523** | **7287523** |
|  | **Element Solutions, Inc.** | **267802** | **6320127** |
|  | **Ryerson Holding Corp.** | **170222** | **3506573** |
|  | **Warrior Met Coal, Inc.** | **142548** | **7324116** |
|  |  |  | **30574083** |
| **8.05%** | **REAL ESTATE** |  |  |
|  | **American Assets Trust, Inc. REIT** | **156119** | **2970945** |
|  | **Apple Hospitality REIT, Inc.** | **400000** | **4700000** |
|  | **DiamondRock Hospitality Co. REIT** | **703104** | **5427963** |
|  | **Douglas Emmett, Inc. REIT** | **389116** | **5898999** |
|  | **Empire State Realty Trust REIT** | **506842** | **3669536** |
|  | **Kite Realty Group Trust REIT** | **263610** | **5794148** |
|  | **The Macerich Co REIT** | **410151** | **6853623** |
|  | **Newmark Group, Inc.** | **580499** | **8806170** |
|  | **Ryman Hospitality Properties, Inc. REIT** | **57247** | **5441900** |
|  | **Sabra Health Care REIT, Inc.** | **362257** | **6531494** |
|  | **SL Green Realty Corp.** | **104124** | **5961099** |
|  | **Tanger Factory Outlet Centers, Inc. REIT** | **248264** | **7452885** |
|  |  |  | **69508762** |
| **3.97%** | **UTILITIES** |  |  |
|  | **California Water Service Group** | **123577** | **5619046** |
|  | **Middlesex Water Company** | **78434** | **4047194** |
|  | **New Jersey Resources Corp.** | **108080** | **4961953** |
|  | **One Gas, Inc.** | **82823** | **6021232** |
|  | **Southwest Gas Corp.** | **81943** | **6403026** |
|  | **TXNM Energy, Inc.** | **126991** | **7211819** |
|  |  |  | **34264270** |
| **99.47%** | **TOTAL COMMON STOCKS** |  | **858503149** |
| **0.50%** | **MONEY MARKET FUND** |  |  |
|  | **Federated Treasury Obligations Fund 4.170%<sup>(B)</sup>** | **4337472** | **4337472** |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**APPLIED FINANCE EXPLORER FUND** |  |
|  | &nbsp;&nbsp;&nbsp;**Schedule of Investments** |  |
|  | &nbsp;&nbsp;&nbsp;**July 31, 2025 (unaudited)** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares** | **Value** |
| **99.97%** | **TOTAL INVESTMENTS** | $**862840621** |
| **0.03%** | **Other assets, net of liabilities** | **223001** |
| **100.00%** | **NET ASSETS** | $**863063622** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(A)</sup>Non-income producing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(B)</sup>Effective 7 day yield as of July 31, 2025 REIT - Real Estate Investment Trust.

**In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used**

**in determining the value of a Fund's investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).**

**Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **The inputs or methodology used for valuing securities are not necessarily an** | **The inputs or methodology used for valuing securities are not necessarily an** | **The inputs or methodology used for valuing securities are not necessarily an** |  |  |
| **indication of the risk associated with investing in those securities.** | **indication of the risk associated with investing in those securities.** |  |  |  |
| **The following summarizes the inputs used to value the Fund's investments as of July 31, 2025:** | **The following summarizes the inputs used to value the Fund's investments as of July 31, 2025:** | **The following summarizes the inputs used to value the Fund's investments as of July 31, 2025:** |  |  |
|  | **Level 1** | **Level 2** | **Level 3** |  |
|  |  | **Other** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Significant** |  |
|  |  | **Significant** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unobservable** |  |
|  | **Quoted Prices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Observable Inputs** | **Inputs** | **Total** |
| **COMMON STOCKS** | $**858503149** | $**-** | $**-** | $**858503149** |
| **MONEY MARKET FUND** | **4337472** |  |  | **4337472** |
| **TOTAL INVESTMENTS** | $**862840621** | $**-** | $**-** | $**862840621** |
| **The cost of investments for Federal income tax purposes has been estimated a/o July 31, 2025 since** | **The cost of investments for Federal income tax purposes has been estimated a/o July 31, 2025 since** | **The cost of investments for Federal income tax purposes has been estimated a/o July 31, 2025 since** |  |  |
| **the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income** | **the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income** | **the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income** | **the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income** |  |
| **tax purpose is $751,409,581, and the related net unrealized appreciation (depreciation) consists of:** | **tax purpose is $751,409,581, and the related net unrealized appreciation (depreciation) consists of:** | **tax purpose is $751,409,581, and the related net unrealized appreciation (depreciation) consists of:** |  |  |
|  |  | **Gross unrealized appreciation** | **Gross unrealized appreciation** | $**167257790** |
|  |  | **Gross unrealized depreciation** | **Gross unrealized depreciation** | **(55826750)** |
|  |  |  | **Net unrealized appreciation** | $**111431040** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** World Funds Trust

- **b. Investment Company Act file number:** 811-22172

- **c. CIK number of Registrant:** 0001396092

- **d. LEI of Registrant:** 5493007BOSPYEMKSSY03

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

  - **Street Address 1:** 8730 Stony Point Parkway

  - **City:** Richmond

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 23235

  - **Telephone number:** 800-673-0550

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

- **a. Name of Series:** Applied Finance Explorer Fund

- **b. EDGAR series identifier (if any):** S000049148

- **c. LEI of Series:** 549300JZELJIII4L7K33

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $864253099.25

**Total Liabilities:** $1189477.73

**Net Assets:** $863063621.52

**Cash Not Reported:** $727304.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000154944 | 4.25%                | 3.88%                | 0.55%                |
| Class ID C000154945 | 4.26%                | 3.90%                | 0.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $30406627.11                               |
| Month 2  | $0.00                    | $30754539.25                               |
| Month 3  | $9951714.84              | $-5153868.15                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SCANSOURCE INC                     | ScanSource, Inc.                       | CUSIP: 806037107<br>LEI: N/A | Long             | EC               | CORP              | US        |    150259 | NS      | $5836059.56   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHLUMBERGER LTD                   | Schlumberger Ltd.                      | CUSIP: 806857108<br>LEI: N/A | Long             | EC               | CORP              | US        |    171424 | NS      | $5794131.21   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SINCLAIR BROAD-A                   | Sinclair, Inc.                         | CUSIP: 829242106<br>LEI: N/A | Long             | EC               | CORP              | US        |    334556 | NS      | $4837679.76   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESS SOFTWAR                   | Progress Software Corp.                | CUSIP: 743312100<br>LEI: N/A | Long             | EC               | CORP              | US        |     96681 | NS      | $4648422.48   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDROCK HOSP                   | DiamondRock Hospitality Co.            | CUSIP: 252784301<br>LEI: N/A | Long             | EC               | CORP              | US        |    703104 | NS      | $5427962.88   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| HANCOCK HLDG CO                    | Hancock Whitney Corp.                  | CUSIP: 410120109<br>LEI: N/A | Long             | EC               | CORP              | US        |    118768 | NS      | $7092824.96   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG SYSTEMS INTL                   | CSG Systems International, Inc.        | CUSIP: 126349109<br>LEI: N/A | Long             | EC               | CORP              | US        |    119223 | NS      | $7446668.58   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIF WATER SRVC                   | California Water Service Group         | CUSIP: 130788102<br>LEI: N/A | Long             | EC               | CORP              | US        |    123577 | NS      | $5619046.19   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MACERICH CO                        | The Macerich Co.                       | CUSIP: 554382101<br>LEI: N/A | Long             | EC               | CORP              | US        |    410151 | NS      | $6853623.21   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| HURON CONSULTING                   | Huron Consulting Group Inc             | CUSIP: 447462102<br>LEI: N/A | Long             | EC               | CORP              | US        |     45563 | NS      | $6017961.04   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI WORLDWIDE IN                   | ACI Worldwide Inc                      | CUSIP: 004498101<br>LEI: N/A | Long             | EC               | CORP              | US        |    132613 | NS      | $5644009.28   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| EMPIRE STATE REA                   | Empire State Realty Trust              | CUSIP: 292104106<br>LEI: N/A | Long             | EC               | CORP              | US        |    506842 | NS      | $3669536.08   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERATED INV-B                    | Federated Hermes, Inc.                 | CUSIP: 314211103<br>LEI: N/A | Long             | EC               | CORP              | US        |    136146 | NS      | $6748757.22   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS                    | Comfort Systems USA Inc                | CUSIP: 199908104<br>LEI: N/A | Long             | EC               | CORP              | US        |     18782 | NS      | $13209380.60  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCIAL METAL                   | Commercial Metals Co.                  | CUSIP: 201723103<br>LEI: N/A | Long             | EC               | CORP              | US        |    140523 | NS      | $7287522.78   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| TANGER FACTORY                     | Tanger Factory Outlet Centers, Inc.    | CUSIP: 875465106<br>LEI: N/A | Long             | EC               | CORP              | US        |    248264 | NS      | $7452885.28   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| GREENBRIER COS                     | Greenbrier Cos., Inc./The              | CUSIP: 393657101<br>LEI: N/A | Long             | EC               | CORP              | US        |    137314 | NS      | $6247787.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| TEREX CORP                         | Terex Corp.                            | CUSIP: 880779103<br>LEI: N/A | Long             | EC               | CORP              | US        |    136165 | NS      | $6925351.90   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PRESTIGE BRANDS                    | Prestige Consumer Healthcare Inc.      | CUSIP: 74112D101<br>LEI: N/A | Long             | EC               | CORP              | US        |     74617 | NS      | $5517927.15   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR MORRISO-A                   | Taylor Morrison Home Corp.             | CUSIP: 87724P106<br>LEI: N/A | Long             | EC               | CORP              | US        |    116264 | NS      | $6892129.92   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUT                   | United Therapeutics Corp.              | CUSIP: 91307C102<br>LEI: N/A | Long             | EC               | CORP              | US        |     19993 | NS      | $5492077.10   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| RENT-A-CENTER                      | Upbound Group, Inc.                    | CUSIP: 76009N100<br>LEI: N/A | Long             | EC               | CORP              | US        |    169517 | NS      | $3497983.36   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| RYMAN HOSPITALIT                   | Ryman Hospitality Properties, Inc.     | CUSIP: 78377T107<br>LEI: N/A | Long             | EC               | CORP              | US        |     57247 | NS      | $5441899.82   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT PARTNERS - A                   | PJT Partners Inc                       | CUSIP: 69343T107<br>LEI: N/A | Long             | EC               | CORP              | US        |     42077 | NS      | $7515793.74   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| G III APPAREL                      | G-III Apparel Group Ltd                | CUSIP: 36237H101<br>LEI: N/A | Long             | EC               | CORP              | US        |    164220 | NS      | $3875592.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDNAX INC                         | MEDNAX Inc                             | CUSIP: 58502B106<br>LEI: N/A | Long             | EC               | CORP              | US        |    410000 | NS      | $5022500.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NETGEAR INC                        | Netgear, Inc.                          | CUSIP: 64111Q104<br>LEI: N/A | Long             | EC               | CORP              | US        |    225289 | NS      | $5237969.25   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DOUGLAS EMMETT                     | Douglas Emmett, Inc.                   | CUSIP: 25960P109<br>LEI: N/A | Long             | EC               | CORP              | US        |    389116 | NS      | $5898998.56   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERDIGITAL INC                   | InterDigital, Inc.                     | CUSIP: 45867G101<br>LEI: N/A | Long             | EC               | CORP              | US        |     33766 | NS      | $8718381.20   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| J2 GLOBAL INC                      | Ziff Davis, Inc.                       | CUSIP: 48123V102<br>LEI: N/A | Long             | EC               | CORP              | US        |    171785 | NS      | $5345949.20   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ENSIGN GROUP INC                   | The Ensign Group, Inc.                 | CUSIP: 29358P101<br>LEI: N/A | Long             | EC               | CORP              | US        |     46835 | NS      | $7025250.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| K12 INC                            | Stride, Inc.                           | CUSIP: 86333M108<br>LEI: N/A | Long             | EC               | CORP              | US        |     54895 | NS      | $7039185.85   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| KB HOME                            | KB Home                                | CUSIP: 48666K109<br>LEI: N/A | Long             | EC               | CORP              | US        |     83673 | NS      | $4623769.98   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| KITE REALTY GROU                   | Kite Realty Group Trust                | CUSIP: 49803T300<br>LEI: N/A | Long             | EC               | CORP              | US        |    263610 | NS      | $5794147.80   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GR                   | CNO Financial Group, Inc.              | CUSIP: 12621E103<br>LEI: N/A | Long             | EC               | CORP              | US        |    193031 | NS      | $7111262.04   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| INNOVIVA INC                       | Innoviva, Inc.                         | CUSIP: 45781M101<br>LEI: N/A | Long             | EC               | CORP              | US        |    250000 | NS      | $4542500.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| XEROX CORP                         | Xerox Holdings Corp.                   | CUSIP: 98421M106<br>LEI: N/A | Long             | EC               | CORP              | US        |    440256 | NS      | $1783036.80   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Federated Treasury Obligations Fund    | CUSIP: 60934N500<br>LEI: N/A | Long             | STIV             | RF                | US        |   4337472 | NS      | $4337472.02   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Sabra Health Care REIT, Inc.           | CUSIP: 78573L106<br>LEI: N/A | Long             | EC               | CORP              | US        |    362257 | NS      | $6531493.71   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ASSETS                    | American Assets Trust Inc              | CUSIP: 024013104<br>LEI: N/A | Long             | EC               | CORP              | US        |    156119 | NS      | $2970944.57   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSTOMERS BANCOR                   | Customers Bancorp, Inc.                | CUSIP: 23204G100<br>LEI: N/A | Long             | EC               | CORP              | US        |    125197 | NS      | $7981308.75   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | NMI Holdings, Inc. Class A             | CUSIP: 629209305<br>LEI: N/A | Long             | EC               | CORP              | US        |    181202 | NS      | $6762458.64   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Warrior Met Coal, Inc.                 | CUSIP: 93627C101<br>LEI: N/A | Long             | EC               | CORP              | US        |    142548 | NS      | $7324116.24   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCORP INC/THE                    | The Bancorp, Inc.                      | CUSIP: 05969A105<br>LEI: N/A | Long             | EC               | CORP              | US        |    124423 | NS      | $7858556.68   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | ANI Pharmaceuticals, Inc.              | CUSIP: 00182C103<br>LEI: N/A | Long             | EC               | CORP              | US        |     77956 | NS      | $4938512.60   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Builders FirstSource, Inc.             | CUSIP: 12008R107<br>LEI: N/A | Long             | EC               | CORP              | US        |     44480 | NS      | $5654742.40   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Antero Resources Corp.                 | CUSIP: 03674X106<br>LEI: N/A | Long             | EC               | CORP              | US        |    164401 | NS      | $5742526.93   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ON ASSIGNMENT                      | ASGN INC                               | CUSIP: 00191U102<br>LEI: N/A | Long             | EC               | CORP              | US        |    113954 | NS      | $5713653.56   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Pathward Financial, Inc.               | CUSIP: 59100U108<br>LEI: N/A | Long             | EC               | CORP              | US        |     95243 | NS      | $7202751.95   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Preferred Bank                         | CUSIP: 740367404<br>LEI: N/A | Long             | EC               | CORP              | US        |     71757 | NS      | $6516970.74   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Insight Enterprises, Inc.              | CUSIP: 45765U103<br>LEI: N/A | Long             | EC               | CORP              | US        |     48617 | NS      | $5765003.86   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | SkyWest, Inc.                          | CUSIP: 830879102<br>LEI: N/A | Long             | EC               | CORP              | US        |     75409 | NS      | $8744427.64   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Tenet Healthcare Corp.                 | CUSIP: 88033G407<br>LEI: N/A | Long             | EC               | CORP              | US        |     37704 | NS      | $6080901.12   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Enova International, Inc.              | CUSIP: 29357K103<br>LEI: N/A | Long             | EC               | CORP              | US        |     81427 | NS      | $8514007.12   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Axos Financial, Inc.                   | CUSIP: 05465C100<br>LEI: N/A | Long             | EC               | CORP              | US        |    102451 | NS      | $8846643.85   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Frontdoor, Inc.                        | CUSIP: 35905A109<br>LEI: N/A | Long             | EC               | CORP              | US        |    125304 | NS      | $7330284.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | PennyMac Financial Services, Inc.      | CUSIP: 70932M107<br>LEI: N/A | Long             | EC               | CORP              | US        |     52585 | NS      | $4897766.90   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Southwest Gas Holdings, Inc.           | CUSIP: 844895102<br>LEI: N/A | Long             | EC               | CORP              | US        |     81943 | NS      | $6403026.02   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| LANNETT CO INC                     | Lantheus Holdings, Inc.                | CUSIP: 516544103<br>LEI: N/A | Long             | EC               | CORP              | US        |     63139 | NS      | $4494865.41   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | TXNM Energy Inc                        | CUSIP: 69349H107<br>LEI: N/A | Long             | EC               | CORP              | US        |    126991 | NS      | $7211818.89   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| WILEY JOHN&SON-A                   | John Wiley & Sons, Inc. Class A        | CUSIP: 968223206<br>LEI: N/A | Long             | EC               | CORP              | US        |    154902 | NS      | $5979217.20   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Columbia Banking System, Inc.          | CUSIP: 197236102<br>LEI: N/A | Long             | EC               | CORP              | US        |    284134 | NS      | $6762389.20   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Navient Corp.                          | CUSIP: 63938C108<br>LEI: N/A | Long             | EC               | CORP              | US        |    458786 | NS      | $5936690.84   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Dorian LPG Ltd.                        | CUSIP: Y2106R110<br>LEI: N/A | Long             | EC               | CORP              | US        |    207272 | NS      | $5967360.88   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | GMS, Inc.                              | CUSIP: 36251C103<br>LEI: N/A | Long             | EC               | CORP              | US        |     78892 | NS      | $8649718.88   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | BRIGHTVIEW HOLDINGS INC,               | CUSIP: 10948C107<br>LEI: N/A | Long             | EC               | CORP              | US        |    366850 | NS      | $5851257.50   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Newmark Group, Inc.                    | CUSIP: 65158N102<br>LEI: N/A | Long             | EC               | CORP              | US        |    580499 | NS      | $8806169.83   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Rithm Capital Corp.                    | CUSIP: 64828T201<br>LEI: N/A | Long             | EC               | CORP              | US        |    523321 | NS      | $6295551.63   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Group 1 Automotive, Inc.               | CUSIP: 398905109<br>LEI: N/A | Long             | EC               | CORP              | US        |     14811 | NS      | $6104353.65   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | SLM Corp.                              | CUSIP: 78442P106<br>LEI: N/A | Long             | EC               | CORP              | US        |    244540 | NS      | $7776372.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Element Solutions, Inc.                | CUSIP: 28618M106<br>LEI: N/A | Long             | EC               | CORP              | US        |    267802 | NS      | $6320127.20   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Herc Holdings, Inc.                    | CUSIP: 42704L104<br>LEI: N/A | Long             | EC               | CORP              | US        |     46055 | NS      | $5379684.55   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | TEGNA Inc.                             | CUSIP: 87901J105<br>LEI: N/A | Long             | EC               | CORP              | US        |    376883 | NS      | $6293946.10   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Victory Capital Holdings, Inc. Class A | CUSIP: 92645B103<br>LEI: N/A | Long             | EC               | CORP              | US        |    119170 | NS      | $8212004.70   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Patrick Industries, Inc.               | CUSIP: 703343103<br>LEI: N/A | Long             | EC               | CORP              | US        |     86526 | NS      | $8413788.24   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Collegium Pharmaceutical, Inc.         | CUSIP: 19459J104<br>LEI: N/A | Long             | EC               | CORP              | US        |    165208 | NS      | $4933110.88   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Performance Food Group Co.             | CUSIP: 71377A103<br>LEI: N/A | Long             | EC               | CORP              | US        |     87136 | NS      | $8748454.40   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Amphastar Pharmaceuticals, Inc.        | CUSIP: 03209R103<br>LEI: N/A | Long             | EC               | CORP              | US        |    175516 | NS      | $3677060.20   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | SUPERNUS PHARMACEUTICALS INC           | CUSIP: 868459108<br>LEI: N/A | Long             | EC               | CORP              | US        |    190998 | NS      | $6704029.80   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Verra Mobility Corp.                   | CUSIP: 92511U102<br>LEI: N/A | Long             | EC               | CORP              | US        |    233157 | NS      | $5889545.82   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | American Woodmark Corp.                | CUSIP: 030506109<br>LEI: N/A | Long             | EC               | CORP              | US        |    105722 | NS      | $5562034.42   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA                    | SM Energy Co.                          | CUSIP: 78454L100<br>LEI: N/A | Long             | EC               | CORP              | US        |    128560 | NS      | $3546970.40   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | DANA INC.                              | CUSIP: 235825205<br>LEI: N/A | Long             | EC               | CORP              | US        |    416417 | NS      | $6629358.64   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | New Jersey Resources Corp.             | CUSIP: 646025106<br>LEI: N/A | Long             | EC               | CORP              | US        |    108080 | NS      | $4961952.80   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Donnelley Financial Solutions          | CUSIP: 25787G100<br>LEI: N/A | Long             | EC               | CORP              | US        |    107832 | NS      | $5710782.72   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Ryerson Holding Corp.                  | CUSIP: 783754104<br>LEI: N/A | Long             | EC               | CORP              | US        |    170222 | NS      | $3506573.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | API Group Corp.                        | CUSIP: 00187Y100<br>LEI: N/A | Long             | EC               | CORP              | US        |    205751 | NS      | $7421438.62   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Consensus Cloud Solutions, Inc.        | CUSIP: 20848V105<br>LEI: N/A | Long             | EC               | CORP              | US        |    108472 | NS      | $2188964.96   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Genco Shipping & Trading Ltd.          | CUSIP: Y2685T131<br>LEI: N/A | Long             | EC               | CORP              | US        |    451237 | NS      | $7188205.41   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SALLY BEAUTY HOL                   | Sally Beauty Holdings Inc              | CUSIP: 79546E104<br>LEI: N/A | Long             | EC               | CORP              | US        |    457929 | NS      | $4460228.46   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Liberty Energy, Inc.                   | CUSIP: 53115L104<br>LEI: N/A | Long             | EC               | CORP              | US        |    312284 | NS      | $3853584.56   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | QCR HOLDINGS INC                       | CUSIP: 74727A104<br>LEI: N/A | Long             | EC               | CORP              | US        |     70000 | NS      | $4970000.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Civitas Resources, Inc.                | CUSIP: 17888H103<br>LEI: N/A | Long             | EC               | CORP              | US        |    160265 | NS      | $4865645.40   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | BellRing Brands, Inc.                  | CUSIP: 07831C103<br>LEI: N/A | Long             | EC               | CORP              | US        |    115347 | NS      | $6295639.26   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                   | StoneX Group, Inc.                     | CUSIP: 861896108<br>LEI: N/A | Long             | EC               | CORP              | US        |    110328 | NS      | $10728294.72  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersons Inc/The                  | The Andersons, Inc.                    | CUSIP: 034164103<br>LEI: N/A | Long             | EC               | CORP              | US        |    149968 | NS      | $5386850.56   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Prog Holdings, Inc.                    | CUSIP: 74319R101<br>LEI: N/A | Long             | EC               | CORP              | US        |    207497 | NS      | $6606704.48   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | CATALYST PHARMACEUTICALS INC           | CUSIP: 14888U101<br>LEI: N/A | Long             | EC               | CORP              | US        |    266124 | NS      | $5676424.92   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ENACT HOLDINGS INC                 | Enact Holdings, Inc.                   | CUSIP: 29249E109<br>LEI: N/A | Long             | EC               | CORP              | US        |    177080 | NS      | $6155300.80   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| JACKSON FINANCIAL INC COM CL A     | Jackson Financial, Inc.                | CUSIP: 46817M107<br>LEI: N/A | Long             | EC               | CORP              | US        |     88150 | NS      | $7718414.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | OSI Systems, Inc.                      | CUSIP: 671044105<br>LEI: N/A | Long             | EC               | CORP              | US        |     33301 | NS      | $7359854.01   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Alpha Metallurgical Resources          | CUSIP: 020764106<br>LEI: N/A | Long             | EC               | CORP              | US        |     51967 | NS      | $6135743.69   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Weatherford International plc          | CUSIP: G48833118<br>LEI: N/A | Long             | EC               | CORP              | US        |     71785 | NS      | $4059441.75   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Permian Resources Corp.                | CUSIP: 71424F105<br>LEI: N/A | Long             | EC               | CORP              | US        |    370699 | NS      | $5249097.84   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc           | Green Brick Partners, Inc.             | CUSIP: 392709101<br>LEI: N/A | Long             | EC               | CORP              | US        |     76371 | NS      | $4730419.74   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL SEAWAYS INC          | International Seaways, Inc.            | CUSIP: Y41053102<br>LEI: N/A | Long             | EC               | CORP              | US        |    144115 | NS      | $5750188.50   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| HILLMAN SOLUTIONS CORP             | Hillman Solutions Corp.                | CUSIP: 431636109<br>LEI: N/A | Long             | EC               | CORP              | US        |    829197 | NS      | $6542364.33   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ADEIA INC                          | Adeia, Inc.                            | CUSIP: 00676P107<br>LEI: N/A | Long             | EC               | CORP              | US        |    341035 | NS      | $4416403.25   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial, Inc.                | MFA Financial, Inc.                    | CUSIP: 55272X607<br>LEI: N/A | Long             | EC               | CORP              | US        |    666811 | NS      | $6061311.99   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp.              | SL Green Realty Corp.                  | CUSIP: 78440X887<br>LEI: N/A | Long             | EC               | CORP              | US        |    104124 | NS      | $5961099.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR CORP                           | NCR Atleos Corp.                       | CUSIP: 63001N106<br>LEI: N/A | Long             | EC               | CORP              | US        |    198483 | NS      | $6073579.80   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust | PennyMac Mortgage Investment Trust     | CUSIP: 70931T103<br>LEI: N/A | Long             | EC               | CORP              | US        |    498194 | NS      | $5873707.26   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MAXIMUS, Inc.                      | MAXIMUS, Inc.                          | CUSIP: 577933104<br>LEI: N/A | Long             | EC               | CORP              | US        |     78306 | NS      | $5783681.16   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Mr. Cooper Group Inc.                  | CUSIP: 62482R107<br>LEI: N/A | Long             | EC               | CORP              | US        |     49069 | NS      | $7641024.68   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Halozyme Therapeutics Inc              | CUSIP: 40637H109<br>LEI: N/A | Long             | EC               | CORP              | US        |     92701 | NS      | $5559278.97   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Phinia Inc                             | CUSIP: 71880K101<br>LEI: N/A | Long             | EC               | CORP              | US        |    135083 | NS      | $6848708.10   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Hovnanian Enterprises-A                | CUSIP: 442487401<br>LEI: N/A | Long             | EC               | CORP              | US        |     24481 | NS      | $2924745.07   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Peabody Energy Corp                    | CUSIP: 704551100<br>LEI: N/A | Long             | EC               | CORP              | US        |    287001 | NS      | $4635066.15   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | HCI Group Inc                          | CUSIP: 40416E103<br>LEI: N/A | Long             | EC               | CORP              | US        |     52331 | NS      | $7328433.24   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Dynex Capital Inc                      | CUSIP: 26817Q886<br>LEI: N/A | Long             | EC               | CORP              | US        |    417651 | NS      | $5195578.44   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Amneal Pharmaceuticals Inc             | CUSIP: 03168L105<br>LEI: N/A | Long             | EC               | CORP              | US        |    606953 | NS      | $4746372.46   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Harmony Biosciences Holdings           | CUSIP: 413197104<br>LEI: N/A | Long             | EC               | CORP              | US        |    127823 | NS      | $4496813.14   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Atmus Filtration Technologie           | CUSIP: 04956D107<br>LEI: N/A | Long             | EC               | CORP              | US        |    138668 | NS      | $5395571.88   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Middlesex Water Co                     | CUSIP: 596680108<br>LEI: N/A | Long             | EC               | CORP              | US        |     78434 | NS      | $4047194.40   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Gulfport Energy Corp                   | CUSIP: 402635502<br>LEI: N/A | Long             | EC               | CORP              | US        |     39494 | NS      | $6877090.22   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Alight Inc                             | CUSIP: 01626W101<br>LEI: N/A | Long             | EC               | CORP              | US        |    740000 | NS      | $3966400.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | CarGurus Inc                           | CUSIP: 141788109<br>LEI: N/A | Long             | EC               | CORP              | US        |    202746 | NS      | $6654123.72   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Monarch Casino & Resort Inc            | CUSIP: 609027107<br>LEI: N/A | Long             | EC               | CORP              | US        |     70000 | NS      | $7207200.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | F&G Annuities & Life Inc               | CUSIP: 30190A104<br>LEI: N/A | Long             | EC               | CORP              | US        |    143563 | NS      | $4581095.33   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Waystar Holding Corp                   | CUSIP: 946784105<br>LEI: N/A | Long             | EC               | CORP              | US        |    118965 | NS      | $4399325.70   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | ONE Gas Inc                            | CUSIP: 68235P108<br>LEI: N/A | Long             | EC               | CORP              | US        |     82823 | NS      | $6021232.10   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Hilton Grand Vacations Inc             | CUSIP: 43283X105<br>LEI: N/A | Long             | EC               | CORP              | US        |    140888 | NS      | $6314600.16   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Janus International Group              | CUSIP: 47103N106<br>LEI: N/A | Long             | EC               | CORP              | US        |    769856 | NS      | $6597665.92   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Diebold Nixdorf Inc                    | CUSIP: 253651202<br>LEI: N/A | Long             | EC               | CORP              | US        |    105388 | NS      | $5932290.52   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                            | Apple Hospitality Reit Inc             | CUSIP: 03784Y200<br>LEI: N/A | Long             | EC               | CORP              | US        |    400000 | NS      | $4700000.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ARBOR REALTY TRU                   | Arbor Realty Trust, Inc.               | CUSIP: 038923108<br>LEI: N/A | Long             | EC               | CORP              | US        |    634359 | NS      | $7079446.44   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY OIL CORP                    | Murphy Oil Corp.                       | CUSIP: 626717102<br>LEI: N/A | Long             | EC               | CORP              | US        |    150012 | NS      | $3721797.72   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR RESIDENTI                   | Armour Residential REIT, Inc.          | CUSIP: 042315705<br>LEI: N/A | Long             | EC               | CORP              | US        |    380850 | NS      | $6211663.50   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATL BANCORP                   | Old National Bancorp                   | CUSIP: 680033107<br>LEI: N/A | Long             | EC               | CORP              | US        |    257113 | NS      | $5427655.43   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS & MINOR                      | Owens & Minor Inc                      | CUSIP: 690732102<br>LEI: N/A | Long             | EC               | CORP              | US        |    399411 | NS      | $2767918.23   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ASBURY AUTO GRP                    | Asbury Automotive Group, Inc.          | CUSIP: 043436104<br>LEI: N/A | Long             | EC               | CORP              | US        |     21000 | NS      | $4664520.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| RADIAN GROUP INC                   | Radian Group, Inc.                     | CUSIP: 750236101<br>LEI: N/A | Long             | EC               | CORP              | US        |    211816 | NS      | $6907319.76   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| STERLING CONSTRU                   | Sterling Infrastructure, Inc.          | CUSIP: 859241101<br>LEI: N/A | Long             | EC               | CORP              | US        |     48205 | NS      | $12899175.95  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** World Funds Trust

**Signature:** Ann MacDonald

**Name of Signer:** Ann MacDonald

**Title:** Principal Financial Officer