# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001193125-25-322486
**Filing Date:** 2025-12
**Character Count:** 18049
**Document Hash:** 08c5c8aaadb771992eaad829b6ce96c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-322486.hdr.sgml**: 20251217

**ACCESSION NUMBER**: 0001193125-25-322486

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251217

**DATE AS OF CHANGE**: 20251217

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07959
- **FILM NUMBER:** 251578524

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

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

## Series and Classes Contracts Data

### First Sentier Global Listed Infrastructure Fund (Series ID: S000056566)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000178944 | Class I      | FLIIX           |

## 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:** First Sentier Global Listed Infrastructure Fund

- **b. EDGAR series identifier (if any):** S000056566

- **c. LEI of Series:** 549300XCQ3ZJ357GRH97

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $144248132.97

**Total Liabilities:** $132355.38

**Net Assets:** $144115777.59

**Cash Not Reported:** $5019193.80

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000178944 | 1.24%                | 2.12%                | -0.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23920.02                | $1227749.07                                |
| Month 2  | $397106.69               | $2330772.27                                |
| Month 3  | $319932.45               | $-615733.01                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PINFRA                         | Promotora y Operadora de Infraestructura SAB de CV | CUSIP: P7925L103<br>LEI: 52990035X6RK8DBUWA73 | Long             | EC               | CORP              | MX        |    176782 | NS      | $2283792.98   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy              | Eversource Energy                                  | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     52297 | NS      | $3860041.57   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                         | RWE AG                                             | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |     37967 | NS      | $1869127.18   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Transurban Group               | Transurban Group                                   | CUSIP: N/A<br>LEI: 549300ZR71SUQ4VUTM79       | Long             | EC               | CORP              | AU        |    671168 | NS      | $6350389.74   | 4.41%             |  |  |  | No            |                  2 | On Loan: No      |
| UGI Corp                       | UGI Corp                                           | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     38902 | NS      | $1300493.86   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeroports de Paris SA          | Aeroports de Paris SA                              | CUSIP: N/A<br>LEI: 969500PJMBSFHYC37989       | Long             | EC               | CORP              | FR        |     21754 | NS      | $2984221.18   | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Motiva Infraestrutura de Mobil | Motiva Infraestrutura de Mobilidade SA             | CUSIP: N/A<br>LEI: 254900H4EUL83CCQ6781       | Long             | EC               | CORP              | BR        |   1186294 | NS      | $3499379.32   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc                                | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     20304 | NS      | $4304448.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp               | Duke Energy Corp                                   | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     53760 | NS      | $6682368.00   | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                     | Evergy Inc                                         | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     48671 | NS      | $3738419.51   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| West Japan Railway Co          | West Japan Railway Co                              | CUSIP: N/A<br>LEI: 353800QGUXHZ7EBCR121       | Long             | EC               | CORP              | JP        |     79500 | NS      | $1633895.02   | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Hera SpA                       | Hera SpA                                           | CUSIP: N/A<br>LEI: 8156009414FD99443B48       | Long             | EC               | CORP              | IT        |    562425 | NS      | $2524256.00   | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Pacifi | Grupo Aeroportuario del Pacifico SAB de CV         | CUSIP: P4959P100<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |    179910 | NS      | $3736581.13   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Getlink SE                     | Getlink SE                                         | CUSIP: N/A<br>LEI: 9695007ZEQ7M0OE74G82       | Long             | EC               | CORP              | FR        |    248312 | NS      | $4532473.51   | 3.15%             |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc | American Electric Power Co Inc                     | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     55528 | NS      | $6677797.28   | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                       | CSX Corp                                           | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    150797 | NS      | $5431707.94   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                    | Equinix Inc                                        | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1866 | NS      | $1578654.66   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                                 | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     72870 | NS      | $5931618.00   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp        | SBA Communications Corp                            | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     22206 | NS      | $4252004.88   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                                 | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     13758 | NS      | $3031850.46   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                | Xcel Energy Inc                                    | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     60058 | NS      | $4874907.86   | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                       | Vinci SA                                           | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |      7849 | NS      | $1049534.52   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| United Utilities Group PLC     | United Utilities Group PLC                         | CUSIP: N/A<br>LEI: 2138002IEYQAOC88ZJ59       | Long             | EC               | CORP              | GB        |    143479 | NS      | $2263593.32   | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC              | National Grid PLC                                  | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |    430324 | NS      | $6452316.08   | 4.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Orsted AS                      | Orsted AS                                          | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | EC               | CORP              | DK        |    117698 | NS      | $2107882.99   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Infrastrutture Wireless Italia | Infrastrutture Wireless Italiane SpA               | CUSIP: N/A<br>LEI: 81560066183FE361C071       | Long             | EC               | CORP              | IT        |    128968 | NS      | $1417139.90   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| AES Corp/The                   | AES Corp/The                                       | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |     50231 | NS      | $696703.97    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc            | Dominion Energy Inc                                | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     52333 | NS      | $3071423.77   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp          | Norfolk Southern Corp                              | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |     16578 | NS      | $4697873.64   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK Inc                                          | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     54513 | NS      | $3652371.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou | Public Service Enterprise Group Inc                | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     39412 | NS      | $3175030.72   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| China Tower Corp Ltd           | China Tower Corp Ltd                               | CUSIP: N/A<br>LEI: 300300T6BNNP0L7O7H91       | Long             | EC               | CORP              | CN        |   1496216 | NS      | $2161504.97   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| BEIJING AIRPORT                | Beijing Capital International Airport Co Ltd       | CUSIP: N/A<br>LEI: 5299001QWQN7CK66FE04       | Long             | EC               | CORP              | CN        |   4502000 | NS      | $1615876.49   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Airport Terminal Co Ltd  | Japan Airport Terminal Co Ltd                      | CUSIP: N/A<br>LEI: 353800W9WEQSGUY2EO26       | Long             | EC               | CORP              | JP        |     69500 | NS      | $2159464.14   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Sempra                         | Sempra                                             | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     64354 | NS      | $5916706.76   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp                               | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     11759 | NS      | $1811356.36   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Rumo SA                        | Rumo SA                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    571400 | NS      | $1699346.65   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Arteria Ltd              | Atlas Arteria Ltd                                  | CUSIP: N/A<br>LEI: 254900SGF4ZQDBH2YC59       | Long             | EC               | CORP              | AU        |    810003 | NS      | $2573213.67   | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp            | American Tower Corp                                | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      1448 | NS      | $259163.04    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                                   | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22279 | NS      | $2439327.71   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Energy Holdings Ltd        | ENN Energy Holdings Ltd                            | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | CN        |    194500 | NS      | $1694731.01   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| PG&E Corp                      | PG&E Corp                                          | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    197580 | NS      | $3153376.80   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Flughafen Zurich AG            | Flughafen Zurich AG                                | CUSIP: N/A<br>LEI: 529900PFO97GCN5SYB55       | Long             | EC               | CORP              | CH        |     13358 | NS      | $3945763.72   | 2.74%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-14

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Kevin Hayden

**Name of Signer:** Advisors Series Trust

**Title:** Vice President, Treasurer