# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001145549-23-019844
**Filing Date:** 2023-3
**Character Count:** 26899
**Document Hash:** 3d37df06e2a07cae3f8d90e3daeebcbd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-019844.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001145549-23-019844

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07959
- **FILM NUMBER:** 23777702

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-765-5340

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

## Series and Classes Contracts Data

### Edgar Lomax Value Fund (Series ID: S000005075)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000013862 | Investor Class | LOMAX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Edgar Lomax Value Fund** | **Edgar Lomax Value Fund** | **Edgar Lomax Value Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **January 31, 2023 (Unaudited)** | **January 31, 2023 (Unaudited)** | **January 31, 2023 (Unaudited)** |
| **Shares** | **COMMON STOCKS - 95.65%** | **Value** |
| | **Beverage and Tobacco Product Manufacturing - 0.17%** | |
| 3850 | Altria Group, Inc. | $173404 |
|  | **Broadcasting (except Internet) - 0.59%** |  |
| 15600 | Comcast Corp. - Class A | 613860 |
|  | **Chemical Manufacturing - 16.69%** |  |
| 3400 | AbbVie, Inc. | 502350 |
| 14600 | Amgen, Inc. | 3685040 |
| 7600 | Bristol-Myers Squibb Co. | 552140 |
| 91950 | Dow, Inc. | 5457233 |
| 6350 | Gilead Sciences, Inc. | 533019 |
| 6300 | Johnson & Johnson | 1029546 |
| 18000 | Merck & Co., Inc. | 1933380 |
| 61652 | Pfizer, Inc. | 2722552 |
| 7400 | Procter & Gamble Co. | 1053612 |
|  |  | 17468872 |
|  | **Computer and Electronic Product Manufacturing - 10.89%** |  |
| 70250 | Cisco Systems, Inc. | 3419068 |
| 171100 | Intel Corp. | 4835286 |
| 21400 | Medtronic PLC - ADR | 1790966 |
| 10200 | Qualcomm, Inc. | 1358742 |
|  |  | 11404062 |
|  | **Couriers and Messengers - 5.33%** |  |
| 25800 | FedEx Corp. | 5001588 |
| 3100 | United Parcel Service, Inc. - Class B | 574213 |
|  |  | 5575801 |
|  | **Credit Intermediation and Related Activities - 6.93%** |  |
| 11000 | American Express Co. | 1924230 |
| 11900 | Bank of New York Mellon Corp. | 601783 |
| 12050 | Citigroup, Inc. | 629251 |
| 21800 | JPMorgan Chase & Co. | 3051128 |
| 12500 | U.S. Bancorp | 622500 |
| 9100 | Wells Fargo & Co. | 426517 |
|  |  | 7255409 |
|  | **Electrical Equipment, Appliance, and Component Manufacturing - 2.46%** |  |
| 28550 | Emerson Electric Co. | 2575781 |
|  | **Food Manufacturing - 0.52%** |  |
| 13350 | Kraft Heinz Co. | 541075 |
|  | **Health and Personal Care Stores - 7.74%** |  |
| 36100 | CVS Health Corp. | 3184742 |
| 133550 | Walgreens Boots Alliance, Inc. | 4922653 |
|  |  | 8107395 |
|  | **Insurance Carriers and Related Activities - 2.55%** |  |
| 25650 | American International Group, Inc. | 1621593 |
| 2100 | UnitedHealth Group, Inc. | 1048299 |
|  |  | 2669892 |
|  | **Machinery Manufacturing - 1.64%** |  |
| 6800 | Caterpillar, Inc. | 1715572 |
|  | **Miscellaneous Manufacturing - 3.72%** |  |
| 24400 | 3M Co. | 2807952 |
| 5200 | Honeywell International, Inc. | 1084096 |
|  |  | 3892048 |
|  | **Petroleum and Coal Products Manufacturing - 9.08%** |  |
| 27400 | Chevron Corp. | 4768148 |
| 16950 | ConocoPhillips | 2065696 |
| 23050 | Exxon Mobil Corp. | 2674031 |
|  |  | 9507875 |
|  | **Professional, Scientific, and Technical Services - 2.03%** |  |
| 15800 | International Business Machines Corp. | 2128734 |
|  | **Real Estate - 0.57%** |  |
| 4650 | Simon Property Group, Inc. | 597339 |
|  | **Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 3.37%** |  |
| 6800 | Goldman Sachs Group, Inc. | 2487508 |
| 10750 | Morgan Stanley | 1046297 |
|  |  | 3533805 |
|  | **Semiconductor and Other Electronic Component Manufacturing - 2.63%** |  |
| 975 | Broadcom, Inc. | 570385 |
| 12300 | Texas Instruments, Inc. | 2179683 |
|  |  | 2750068 |
|  | **Telecommunications - 5.62%** |  |
| 49900 | AT&T, Inc. | 1016463 |
| 117050 | Verizon Communications, Inc. | 4865768 |
|  |  | 5882231 |
|  | **Transportation Equipment Manufacturing - 5.67%** |  |
| 46800 | Ford Motor Co. | 632268 |
| 18000 | General Dynamics Corp. | 4195080 |
| 11100 | Raytheon Technologies Corp. | 1108335 |
|  |  | 5935683 |
|  | **Utilities - 7.45%** |  |
| 31500 | Duke Energy Corp. | 3227175 |
| 62300 | Exelon Corp. | 2628437 |
| 28750 | Southern Co. | 1945800 |
|  |  | 7801412 |
|  | TOTAL COMMON STOCKS (Cost $98,366,316) | 100130318 |
|  | **MONEY MARKET FUND - 4.29%** |  |
| 4493950 | Invesco STIT-Treasury Portfolio - Institutional Class, 4.30% (a) | 4493950 |
|  | TOTAL MONEY MARKET FUND (Cost $4,493,950) | 4493950 |
|  | **Total Investments in Securities (Cost $102,860,266) - 99.94%** | **104624268** |
|  | **Other Assets in Excess of Liabilities - 0.06%** | **62013** |
|  | **TOTAL NET ASSETS - 100.00%** | $**104686281** |

---

---

| | |
|:---|:---|
| ADR | American Depository Receipt |
| PLC | Public Limited Company |
| (a) | Rate shown is the 7-day annualized yield as of January 31, 2023. |

---

------

---

| |
|:---|
| **Edgar Lomax Value Fund** |
| **Summary of Fair Value Disclosure at January 31, 2023 (Unaudited)** |
| The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United |
| States of America ("U.S. GAAP") establish a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: |
| Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. |
| Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may |
| include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, |
| default rates and similar data. |
| Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions |
| about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
| The following is a summary of the inputs used to value the Fund's investments as of January 31, 2023: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Edgar Lomax Value Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Common Stocks** | | | | |
| &nbsp;&nbsp;&nbsp; Finance and Insurance | $13459106 | $- | $- | $13459106 |
| &nbsp;&nbsp;&nbsp; Information | 6496091 | - | - | 6496091 |
| &nbsp;&nbsp;&nbsp; Manufacturing | 51259330 | - | - | 51259330 |
| &nbsp;&nbsp;&nbsp; Mining, Quarrying, and Oil and Gas | 2065696 | - | - | 2065696 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Extraction |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Real Estate and Rental and Leasing | 597339 | - | - | 597339 |
| &nbsp;&nbsp;&nbsp; Retail Trade | 12875543 | - | - | 12875543 |
| &nbsp;&nbsp;&nbsp; Transportation and Warehousing | 5575801 | - | - | 5575801 |
| &nbsp;&nbsp;&nbsp; Utilities | 7801412 | - | - | 7801412 |
| **Total Common Stocks** | 100130318 | - | - | 100130318 |
| **Money Market Fund** | 4493950 | - | - | 4493950 |
| **Total Investments in Securities** | $104624268 | $- | $- | $104624268 |
| Refer to the Fund's schedule of investments for a detailed break-out of common stocks by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of common stocks by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of common stocks by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of common stocks by industry classification. |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

- **d. LEI of Registrant:** 2549003Z0J6URS6I4Y63

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** Edgar Lomax Value Fund

- **b. EDGAR series identifier (if any):** S000005075

- **c. LEI of Series:** 254900YO9072KOXI7L85

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $104879445.95

**Total Liabilities:** $172782.19

**Net Assets:** $104706663.76

**Cash Not Reported:** $317408.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013862 | 5.90%                | -3.06%               | 0.58%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $5491429.96                                |
| Month 2  | $100.03                  | $-3397950.72                               |
| Month 3  | $4448471.55              | $-4007393.34                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Altria Group Inc               | Altria Group Inc                     | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      3850 | NS      | $173404.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co            | American Express Co                  | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     11000 | NS      | $1924230.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      5200 | NS      | $1084096.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                     | Intel Corp                           | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    171100 | NS      | $4835286.00   | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                            | International Business Machines Corp | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     15800 | NS      | $2128734.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                  | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     21800 | NS      | $3051128.00   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      6300 | NS      | $1029546.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The             | Kraft Heinz Co/The                   | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     13350 | NS      | $541075.50    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                 | Morgan Stanley                       | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     10750 | NS      | $1046297.50   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer Inc                           | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     61652 | NS      | $2722552.32   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The              | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      7400 | NS      | $1053612.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     10200 | NS      | $1358742.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Raytheon Technologies Corp     | Raytheon Technologies Corp           | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     11100 | NS      | $1108335.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio     | Invesco Treasury Portfolio           | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |   4176541 | NS      | $4176541.19   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc       | Simon Property Group Inc             | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      4650 | NS      | $597339.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                | Southern Co/The                      | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     28750 | NS      | $1945800.00   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     12300 | NS      | $2179683.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                          | 3M Co                                | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     24400 | NS      | $2807952.00   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                     | US Bancorp                           | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     12500 | NS      | $622500.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc      | United Parcel Service Inc            | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      3100 | NS      | $574213.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications Inc           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    117050 | NS      | $4865768.50   | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Walgreens Boots Alliance Inc   | Walgreens Boots Alliance Inc         | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |    133550 | NS      | $4922653.00   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                     | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      9100 | NS      | $426517.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                        | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     21400 | NS      | $1790966.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T Inc                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     49900 | NS      | $1016463.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie Inc                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      3400 | NS      | $502350.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I | American International Group Inc     | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     25650 | NS      | $1621593.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen Inc                            | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     14600 | NS      | $3685040.00   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/T | Bank of New York Mellon Corp/The     | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     11900 | NS      | $601783.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co              | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      7600 | NS      | $552140.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                         | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |       975 | NS      | $570384.75    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                | CVS Health Corp                      | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     36100 | NS      | $3184742.00   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar Inc                      | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      6800 | NS      | $1715572.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27400 | NS      | $4768148.00   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     70250 | NS      | $3419067.50   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                        | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     12050 | NS      | $629251.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp                         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     15600 | NS      | $613860.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                       | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     16950 | NS      | $2065696.50   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                        | Dow Inc                              | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     91950 | NS      | $5457232.50   | 5.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp               | Duke Energy Corp                     | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     31500 | NS      | $3227175.00   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co                  | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     28550 | NS      | $2575781.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                    | Exelon Corp                          | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     62300 | NS      | $2628437.00   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                     | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     23050 | NS      | $2674030.50   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp                           | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     25800 | NS      | $5001588.00   | 4.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                  | Ford Motor Co                        | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     46800 | NS      | $632268.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp          | General Dynamics Corp                | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     18000 | NS      | $4195080.00   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences Inc                  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      6350 | NS      | $533019.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The          | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      6800 | NS      | $2487508.00   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     18000 | NS      | $1933380.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2100 | NS      | $1048299.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Kevin Hayden

**Name of Signer:** Advisors Series Trust

**Title:** Treasurer & Vice President