# EDGAR Filing Document

**Accession Number:** 0001388485
**File Stem:** 0000940400-25-001994
**Filing Date:** 2025-9
**Character Count:** 28427
**Document Hash:** 1d4ef724532f409d78e9ad4f3f7505d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-001994.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0000940400-25-001994

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FundVantage Trust
- **CENTRAL INDEX KEY:** 0001388485

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22027
- **FILM NUMBER:** 251334214

**BUSINESS ADDRESS:**
- **STREET 1:** 103 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 3027911906

**MAIL ADDRESS:**
- **STREET 1:** 103 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Series and Classes Contracts Data

### Private Capital Management Value Fund (Series ID: S000028203)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000086266 | Class I      | VFPIX           |

## Nport-Ex

PRIVATE CAPITAL MANAGEMENT VALUE FUND

#### Portfolio of Investments

#### July 31, 2025
(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number<br> of Shares** | **Value** |
| **COMMON STOCKS — 92.0%** | **COMMON STOCKS — 92.0%** | **COMMON STOCKS — 92.0%** |
| **Communication Services — 12.7%** | **Communication Services — 12.7%** | **Communication Services — 12.7%** |
| Perion Network Ltd. (Israel)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;240680 | $2604158 |
| QuinStreet, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;329439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5406094 |
| Vivid Seats, Inc., Class A<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;356420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 552451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8562703 |
| **Consumer Discretionary — 7.0%** | **Consumer Discretionary — 7.0%** | **Consumer Discretionary — 7.0%** |
| Lakeland Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1420670 |
| Motorcar Parts of America, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;87453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906888 |
| Target Hospitality Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;313415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2378820 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4706378 |
| **Energy — 3.4%** | **Energy — 3.4%** | **Energy — 3.4%** |
| Secure Waste Infrastructure Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;207420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2281620 |
| **Financials — 30.4%** | **Financials — 30.4%** | **Financials — 30.4%** |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 994402 |
| BGC Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;318070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2948509 |
| ECN Capital Corp. (Canada) | 1434005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3197831 |
| FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 832626 |
| First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1273360 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 755244 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2074895 |
| KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3213767 |
| Pioneer Bancorp, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;57490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705402 |
| SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1257822 |
| StoneX Group, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;19852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1930408 |
| Synovus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1409358 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20593624 |
| **Health Care — 14.5%** | **Health Care — 14.5%** | **Health Care — 14.5%** |
| Harrow, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;128754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4089227 |
| Lantheus Holdings, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;38910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2770003 |
| Ligand Pharmaceuticals, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;22675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2983576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9842806 |
| **Industrials — 9.9%** | **Industrials — 9.9%** | **Industrials — 9.9%** |
| AerSale Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;211495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1277430 |
| Astronics Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;34365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1241264 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3870674 |
| Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343917 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6733285 |
| **Information Technology — 11.2%** | **Information Technology — 11.2%** | **Information Technology — 11.2%** |
| Asure Software, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;323112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3134186 |

---

---

| | | |
|:---|:---|:---|
|  | **Number<br> of Shares** | **Value** |
| **COMMON STOCKS — (Continued)** | **COMMON STOCKS — (Continued)** | **COMMON STOCKS — (Continued)** |
| **Information Technology — (Continued)** | **Information Technology — (Continued)** | **Information Technology — (Continued)** |
| Information Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;369774 | $1593726 |
| Powerfleet, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;707080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2870745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7598657 |
| **Materials — 0.2%** | **Materials — 0.2%** | **Materials — 0.2%** |
| Tronox Holdings PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;45307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144529 |
| **Real Estate — 2.7%** | **Real Estate — 2.7%** | **Real Estate — 2.7%** |
| International Workplace Group PLC (Jersey) | &nbsp;&nbsp;&nbsp;&nbsp;618460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1815242 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS<br> (Cost $39,213,476) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62278844 |
| **SHORT-TERM INVESTMENT — 8.2%** | **SHORT-TERM INVESTMENT — 8.2%** |  |
| **Money Market Fund — 8.2%** |  |  |
| Dreyfus Treasury Securities Cash Management, Institutional Shares 4.13%<sup>(a)</sup> | 5579409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5579409 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENT<br> (Cost $5,579,409) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5579409 |
| TOTAL INVESTMENTS - 100.2%<br> (Cost $44,792,885) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67858253 |
| LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (163944) |
| NET ASSETS - 100.0% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$67694309 |

---

------

(a) Rate periodically changes. Rate disclosed is the 7-day yield at July 31, 2025. <br> \* Non-income producing.

PLC Public Limited Company

See accompanying Notes to the Quarterly Portfolio of Investments.

------

PRIVATE CAPITAL MANAGEMENT VALUE FUND

#### Notes to the Quarterly Portfolio of Investments

#### July 31, 2025
(Unaudited)

***Portfolio Valuation – The Private Capital Management Value Fund (the "Fund") net asset value ("NAV") is calculated once daily at the close of regular trading hours on the New York Stock Exchange ("NYSE") (typically 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Fund are valued using the closing price or the last sale price on a national securities exchange or the National Association of Securities Dealers Automatic Quotation System ("NASDAQ") market system where they are primarily traded. Equity securities traded in the over-the-counter ("OTC") market are valued at their closing prices. If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to the market close. Fixed income securities having a remaining maturity of greater than 60 days are valued using an independent pricing service. Fixed income securities having a remaining maturity of 60 days or less are generally valued at amortized cost, provided such amount approximates fair value. Foreign securities are valued based on prices from the primary market in which they are traded and are translated from the local currency into U.S. dollars using current exchange rates. Investments in other open-end investment companies are valued based on the NAV of the investment companies (which may use fair value pricing as discussed in their prospectuses). Securities that do not have a readily available current market value are valued in good faith by the Adviser a "valuation designee" under the oversight of the Trust's Board of Trustees. Relying on prices supplied by pricing services or dealers or using fair valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments. The Adviser has adopted written policies and procedures for valuing securities and other assets in circumstances where market quotes are not readily available. In the event that market quotes are not readily available, and the security or asset cannot be valued pursuant to one of the valuation methods, the value of the security or asset will be determined in good faith by the Adviser pursuant to its policies and procedures. On a quarterly basis, the Adviser's fair valuation determinations will be reviewed by the Trust's Board of Trustees.***

***Fair Value Measurements — The inputs and valuation techniques used to measure fair value of the Fund's investments are summarized into three levels as described in the hierarchy below:***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — quoted prices in active markets for identical securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers in and out are recognized at the value at the end of the period.

The following is a summary of the inputs used, as of July 31, 2025, in valuing the Fund's investments carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Total Value at<br> 07/31/25** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Price** | &nbsp;&nbsp;**Level 2<br> Other<br> Significant<br> Observable<br> Inputs** | &nbsp;&nbsp;**Level 3<br> Significant<br> Unobservable<br> Inputs** |
| **Assets** |  |  |  |  |
| Common Stocks\* | $62278844 | &nbsp;&nbsp;$62278844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Short-Term Investment\* | &nbsp;&nbsp;&nbsp;&nbsp;5579409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5579409 | &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;— |
| Total Assets | $67858253 | &nbsp;&nbsp;$67858253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |

---

------

<sup>\*</sup> Please refer to Portfolio of Investments for further details on portfolio holdings.

At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third-party pricing services; and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Level 1 and Level 2 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.

------

PRIVATE CAPITAL MANAGEMENT VALUE FUND

#### Notes to the Quarterly Portfolio of Investments (Concluded)

#### July 31, 2025
(Unaudited)

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund's investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.

For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles require the Fund to present a reconciliation of the beginning to ending balances for reported market values that present changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3 during the period. A reconciliation of Level 3 investments is presented only when the Fund had an amount of Level 3 investments at the end of the reporting period that was meaningful in relation to its net assets. The amounts and reasons for all transfers in and out of Level 3 are disclosed when the Fund had an amount of transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.

For the period ended July 31, 2025, there were no transfers in or out of Level 3.

For more information with regard to significant accounting policies, see the Fund's most recent semi-annual or annual report filed with the Securities and Exchange Commission.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FundVantage Trust

- **b. Investment Company Act file number:** 811-22027

- **c. CIK number of Registrant:** 0001388485

- **d. LEI of Registrant:** 549300C6U7XKIL1IY249

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

  - **Street Address 1:** 103 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 856-528-3500

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

- **a. Name of Series:** Private Capital Management Value Fund

- **b. EDGAR series identifier (if any):** S000028203

- **c. LEI of Series:** 5493005Q3XCM18O3FL69

**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:** $68047512.84

**Total Liabilities:** $361419.50

**Net Assets:** $67686093.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000086266 | -0.29%               | 3.12%                | 1.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-217520.76                                |
| Month 2  | $-4.08                   | $2022351.36                                |
| Month 3  | $0.00                    | $904105.25                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FB Financial Corp                           | FB Financial Corp                           | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |     17076 | NS      | $832625.76    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AerSale Corp                                | AerSale Corp                                | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    211495 | NS      | $1277429.80   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Asure Software Inc                          | Asure Software Inc                          | CUSIP: 04649U102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    323112 | NS      | $3134186.40   | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Perion Network Ltd                          | Perion Network Ltd                          | CUSIP: 000000000<br>LEI: 529900SL7HYNVD6HG708 | Long             | EC               | CORP              | IL        |    240680 | NS      | $2604157.60   | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Secure Waste Infrastructure Co              | Secure Waste Infrastructure Corp            | CUSIP: 813921103<br>LEI: 894500UQR7AONHFERA55 | Long             | EC               | CORP              | CA        |    207420 | NS      | $2281620.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp                 | Matthews International Corp                 | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |     10000 | NS      | $234900.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Bancorp Inc/NY                      | Pioneer Bancorp Inc/NY                      | CUSIP: 723561106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57490 | NS      | $705402.30    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp                      | Synovus Financial Corp                      | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     29834 | NS      | $1409358.16   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Harrow Inc                                  | Harrow Inc                                  | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128754 | NS      | $4089227.04   | 6.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Cash Management | Dreyfus Treasury Securities Cash Management | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |   5830792 | NS      | $5830791.73   | 8.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Powerfleet Inc NJ                           | Powerfleet Inc NJ                           | CUSIP: 73931J109<br>LEI: 2549007NKEFPYEH4MF81 | Long             | EC               | CORP              | US        |    707080 | NS      | $2870744.80   | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| QuinStreet Inc                              | QuinStreet Inc                              | CUSIP: 74874Q100<br>LEI: 549300TP8MFBFPOS4Y78 | Long             | EC               | CORP              | US        |    329439 | NS      | $5406093.99   | 7.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc               | Barrett Business Services Inc               | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |     84200 | NS      | $3870674.00   | 5.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Tronox Holdings PLC                         | Tronox Holdings PLC                         | CUSIP: 000000000<br>LEI: 549300NRVC84SGJSXV06 | Long             | EC               | CORP              | US        |     45307 | NS      | $144529.33    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                       | Lantheus Holdings Inc                       | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     38910 | NS      | $2770002.90   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                                | KKR & Co Inc                                | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     21925 | NS      | $3213766.50   | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ACNB Corp                                   | ACNB Corp                                   | CUSIP: 000868109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23620 | NS      | $994402.00    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Hospitality Corp                     | Target Hospitality Corp                     | CUSIP: 87615L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    313415 | NS      | $2378819.85   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivid Seats Inc                             | Vivid Seats Inc                             | CUSIP: 92854T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    356420 | NS      | $552451.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Information Services Group Inc              | Information Services Group Inc              | CUSIP: 45675Y104<br>LEI: 549300ZUNI6DQ0G8Q273 | Long             | EC               | CORP              | US        |    369774 | NS      | $1593725.94   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp               | First American Financial Corp               | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     21205 | NS      | $1273360.25   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorcar Parts of America Inc               | Motorcar Parts of America Inc               | CUSIP: 620071100<br>LEI: 549300AG4610OSV3H429 | Long             | EC               | CORP              | US        |     87453 | NS      | $906887.61    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| International Workplace Group               | International Workplace Group PLC           | CUSIP: 000000000<br>LEI: 2138003LWDII27UTAG52 | Long             | EC               | CORP              | CH        |    618460 | NS      | $1815241.95   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SmartFinancial Inc                          | SmartFinancial Inc                          | CUSIP: 83190L208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36714 | NS      | $1257821.64   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC Group Inc                               | BGC Group Inc                               | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |    318070 | NS      | $2948508.90   | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| HomeTrust Bancshares Inc                    | HomeTrust Bancshares Inc                    | CUSIP: 437872104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19435 | NS      | $755244.10    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp                              | Astronics Corp                              | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |     34365 | NS      | $1241263.80   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc                  | Ligand Pharmaceuticals Inc                  | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |     22675 | NS      | $2983576.50   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Industries Inc                     | Lakeland Industries Inc                     | CUSIP: 511795106<br>LEI: 549300HGP70IM9WKU164 | Long             | EC               | CORP              | US        |    102133 | NS      | $1420670.03   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                            | StoneX Group Inc                            | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     19852 | NS      | $1930408.48   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ECN Capital Corp                            | ECN Capital Corp                            | CUSIP: 26829L107<br>LEI: 549300E2G773NN59KY61 | Long             | EC               | CORP              | CA        |   1434005 | NS      | $3197831.15   | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc               | Jefferies Financial Group Inc               | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     35985 | NS      | $2074895.10   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-23

**Name of Applicant:** FundVantage Trust

**Signature:** Christine S. Catanzaro

**Name of Signer:** Christine S. Catanzaro

**Title:** Treasurer and Chief Financial Officer