# EDGAR Filing Document

**Accession Number:** 0001199046
**File Stem:** 0000910472-26-002599
**Filing Date:** 2026-2
**Character Count:** 21148
**Document Hash:** dc1cfa6efc8208432f92cc0afcdb51e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002599.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002599

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UNIFIED SERIES TRUST
- **CENTRAL INDEX KEY:** 0001199046

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21237
- **FILM NUMBER:** 26681903

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-346-3324

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Channel Income Fund (Series ID: S000002756)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000007552 | Channel Income Fund | CPSIX           |

## Nport-Ex

Channel

Income

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

CORPORATE

BONDS

—

89.83%

Principal

Amount

Fair

Value

Corporate

Bonds

-

Domestic

—

89.83%

Activision

Blizzard,

Inc.,

3.40%,

9/15/2026

$

232,000

$

230,225

Ally

Financial,

Inc.,

Series

B,

4.70%,

8/15/2169

(a) 250,000

247,336

American

Airlines

Pass

Through

Trust,

Series

2016-1A,

4.10%,

1/15/2028

142,956

140,518

American

Airlines

Pass

Through

Trust,

Series

2017-1A,

4.00%,

2/15/2029

221,719

215,128

American

Airlines

Pass

Through

Trust,

Series

2016-2A,

3.65%,

12/15/2029

409,046

395,562

American

Electric

Power

Company,

Inc.,

7.05%,

12/15/2054

(H15T5Y

+

275bps)

(a) 250,000

261,696

APA

Corp.,

6.10%,

2/15/2035

150,000

154,382

Ares

Capital

Corp.,

5.10%,

1/15/2031

200,000

197,476

Bank

of

America

NA,

5.52%,

10/25/2035

(a) 200,000

205,257

Blue

Owl

Credit

Income

Corp.,

6.65%,

3/15/2031

100,000

103,141

Edison

International,

5.38%,

9/15/2069

(H15T5Y

+

469.80bps)

(a) 200,000

199,742

Energy

Transfer

LP,

6.50%,

11/15/2167

(H15T5Y

+

569.40bps)

(a) 300,000

301,939

First

Horizon

Bank,

5.75%,

5/1/2030

150,000

155,246

Genworth

Holdings,

Inc.,

6.12%,

11/15/2036

(SOFRRATE+

200.25bps)

(a) 750,000

632,839

GEO

Group,

Inc.

(The),

10.25%,

4/15/2031

200,000

219,320

Hawaiian

Airlines

Pass

Through

Trust,

Series

2013-1A,

3.90%,

1/15/2026

388,513

388,114

JetBlue

Airways

Pass

Through

Trust,

Series

2020-1B,

7.75%,

11/15/2028

478,307

482,527

JPMorgan

Chase

&

Co.,

5.58%,

7/23/2036

(SOFRRATE

+

163.50bps)

(a) 100,000

103,666

KeyBank

NA,

3.90%,

4/13/2029

100,000

98,187

Occidental

Petroleum

Corp.,

6.63%,

9/1/2030

300,000

322,485

Ovintiv,

Inc.,

6.25%,

7/15/2033

150,000

159,406

Paramount

Global,

6.38%,

3/30/2062

(a) 300,000

280,819

Philip

Morris

International,

Inc.,

4.90%,

11/1/2034

100,000

100,929

Phillips

Co.,

5.88%,

3/15/2056

(H15T5Y +

228.30bps)

(a) 250,000

247,190

Sempra,

6.40%,

10/1/2054

(H15T5Y

+

263.20bps)

(a) 250,000

254,312

Spirit

Airlines

Pass

Through

Trust,

Series

2015-1A,

4.10%,

4/1/2028

280,481

269,698

Synovus

Bank,

5.96%,

1/15/2036

150,000

151,135

Synovus

Financial

Corp.,

6.17%,

11/1/2030

(TSFR3M

+

800bps)

(a) 100,000

103,904

United

Airlines

Pass

Through

Trust,

Series

2018-1B,

4.60%,

3/1/2026

119,610

119,793

Western

Midstream

Operating

LP,

5.50%,

12/15/2035

150,000

149,565

TOTAL

CORPORATE

BONDS

(Cost $6,598,887)

6,891,537

U.S.

GOVERNMENT

&

AGENCIES

—

4.52%

United

States

Treasury

Note,

3.63 %

,

12/31/2030

150,000

149,314

United

States

Treasury

Note,

4.00 %

,

11/15/2035

200,000

197,297

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $347,201)

346,611

Channel

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

MONEY

MARKET

FUNDS

-

8.60%

Shares

Fair

Value

Fidelity

Investments

Money

Market

Government

Portfolio,

Class

I,

3.67%

(b) 660,049

$

660,049

TOTAL

MONEY

MARKET

FUNDS

(Cost

$660,049)

660,049

TOTAL

INVESTMENTS

—

102.95%

(Cost

$7,606,137)

7,898,197

Liabilities

in

Excess

of

Other

Assets — (2.95)%

(226,621)

NET

ASSETS

—

100.00%

$

7,671,576

(a) Variable

rate

security.

The

rate

shown

is

the

effective

interest

rate

as

of

December

31,

2025. The

benchmark

on

which

the

rate

is

calculated

is

shown

parenthetically.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

December

31,

2025.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-21237

- **c. CIK number of Registrant:** 0001199046

- **d. LEI of Registrant:** 549300NFHRL589EP7U13

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

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** CHANNEL INCOME FUND

- **b. EDGAR series identifier (if any):** S000002756

- **c. LEI of Series:** 549300WVKPEHZ4MSWJ31

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $10479156.99

**Total Liabilities:** $2872256.56

**Net Assets:** $7606900.43

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 3.52102464 | **1-Year:** 230.42621977 | **5-Year:** 789.61619975 | **10-Year:** 597.29199699 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 788.19064678 | **1-Year:** 145.43651702 | **5-Year:** 27.60024113 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007552 | -0.79%               | -0.48%               | -0.66%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $689062.80               | $-672967.36                                |
| Month 2  | $890.34                  | $6166.97                                   |
| Month 3  | $36075.91                | $-36632.17                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Activision Blizzard Inc                          | Activision Blizzard, Inc.                                        | CUSIP: 00507VAK5<br>LEI: 549300TPQQDBP9GNOF40 | Long             | DBT              | CORP              | US        |    232000 | PA      | $230224.61    | 3.03%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                              | Ally Financial, Inc.                                             | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247336.22    | 3.25%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                          | American Airlines Pass Through Trust                             | CUSIP: 023764AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    409046 | PA      | $395562.34    | 5.20%             | 2029-12-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                          | American Airlines 2016-1 Class A Pass Through Trust              | CUSIP: 02376WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    142956 | PA      | $140517.66    | 1.85%             | 2028-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                          | American Airlines 2017-1 Class A Trust 4 02/15/29 A              | CUSIP: 02378AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    221719 | PA      | $215127.66    | 2.83%             | 2029-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                 | American Electric Power Co., Inc.                                | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261694.93    | 3.44%             | 2054-12-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| APA Corp.                                        | APA Corp 6.1 02/15/35                                            | CUSIP: 03743QAR9<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154382.46    | 2.03%             | 2035-02-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                               | Ares Capital Corp 5.1 01/15/31                                   | CUSIP: 04010LBL6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197476.33    | 2.60%             | 2031-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                            | Bank of America NA 10/25/2035                                    | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205257.27    | 2.70%             | 2035-10-25      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Edison International                             | Edison International                                             | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199742.44    | 2.63%             | 2069-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                               | Energy Transfer LP                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301939.12    | 3.97%             | 2167-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fidelity Colchester Street Trust                 | Fidelity Investments Money Market Funds  - Government Portfolio  | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |    660048 | PA      | $660048.50    | 8.68%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Bank                               | First Horizon Bank                                               | CUSIP: 337158AJ8<br>LEI: COOWI3L2W9TPYR3WJX37 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155246.33    | 2.04%             | 2030-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GEO Group Inc                                    | GEO Group Inc/The 10.25 04/15/31                                 | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $219319.28    | 2.88%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Genworth Financial Inc.                          | Genworth Holdings, Inc.                                          | CUSIP: 37247DAG1<br>LEI: 549300EMCG286BDNKJ33 | Long             | DBT              | CORP              | US        |    750000 | PA      | $632839.20    | 8.32%             | 2036-11-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Hawaiian Holdings Inc.                           | Hawaiian Airlines 2013-1 Class A Pass Through Certificates       | CUSIP: 419838AA5<br>LEI: 529900TQUS2JVPSSPP86 | Long             | ABS-O            | CORP              | US        |    388513 | PA      | $388114.22    | 5.10%             | 2026-01-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                             | JPMorgan Chase & Co 5.576 07/23/36                               | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103666.07    | 1.36%             | 2036-07-23      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| JetBlue Airways Corporation                      | JBLU 7.75 11/15/28 1B JetBlue 2020-1 Class B Pass Through Trust  | CUSIP: 477164AB3<br>LEI: 54930070J9H97ZO93T57 | Long             | ABS-O            | CORP              | US        |    478307 | PA      | $482526.44    | 6.34%             | 2028-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KeyBank National Association                     | KeyBank NA/Cleveland OH 3.9 04/13/29                             | CUSIP: 49327V2B9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98187.07     | 1.29%             | 2029-04-13      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                       | Occidental Petroleum Corp 6.625 09/01/30                         | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    300000 | PA      | $322484.42    | 4.24%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Ovintiv Inc                                      | Ovintiv, Inc.                                                    | CUSIP: 69047QAC6<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    150000 | PA      | $159405.95    | 2.10%             | 2033-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Blue Owl Credit Income Corp.                     | Blue Owl Credit Income Corp 6.65 03/15/31                        | CUSIP: 69120VAZ4<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103140.67    | 1.36%             | 2031-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                 | Philip Morris International Inc                                  | CUSIP: 718172DQ9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100928.93    | 1.33%             | 2034-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Phillips 66 Co.                                  | Phillips 66 Co 5.875 03/15/56 A                                  | CUSIP: 718547AZ5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247190.39    | 3.25%             | 2056-03-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Sempra                                           | Sempra                                                           | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254312.22    | 3.34%             | 2054-10-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Spirit Airlines Incorporation 2015-1             | SPIRIT AIR 2015-1 PTT A 4.1 04/01/28                             | CUSIP: 84858DAA6<br>LEI: 549300DCAFIXFNFR3304 | Long             | ABS-O            | CORP              | US        |    280481 | PA      | $269698.36    | 3.55%             | 2028-04-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Synovus Financial Corp.                          | Synovus Financial Corp                                           | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103904.27    | 1.37%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Synovus Bank Columbus GA                         | Synovus Bank/Columbus GA 5.957 01/15/36                          | CUSIP: 87164DXY1<br>LEI: DX0JX77PRMOELF7VG772 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151135.14    | 1.99%             | 2036-01-15      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass Through Trust Series 2018-1 | United Airlines 2018-1 Class B Pass Through Trust 4.6 03/01/26 B | CUSIP: 90932NAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    119610 | PA      | $119793.33    | 1.57%             | 2026-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                     | United States Treasury Note/Bond                                 | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $197296.88    | 2.59%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                     | United States Treasury Note/Bond                                 | CUSIP: 91282CPR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    150000 | PA      | $149314.45    | 1.96%             | 2030-12-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                 | Paramount Global                                                 | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    300000 | PA      | $280819.44    | 3.69%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating  LP                  | Western Midstream Operating LP 5.5 12/15/35                      | CUSIP: 958667AJ6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149564.86    | 1.97%             | 2035-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Unified Series Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer