# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0001752724-25-162658
**Filing Date:** 2025-6
**Character Count:** 9935
**Document Hash:** 1521b86cf0227b3288e16950cf678dbf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-162658.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-162658

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALUED ADVISERS TRUST
- **CENTRAL INDEX KEY:** 0001437249

**ORGANIZATION NAME:**
- **EIN:** 262762915

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22208
- **FILM NUMBER:** 251089264

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DR.
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DR.
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Belmont Theta Income Fund (Series ID: S000061578)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000199439 | Institutional Class Shares | BTIFX           |

## Nport-Ex

Belmont

Theta

Income

Fund

Schedule

of

Investments

April

30,

2025

(Unaudited)

U.S.

GOVERNMENT

&

AGENCIES

(a)(b) —

64.88%

Principal

Amount

Fair

Value

United

States

Treasury

Bill,

4.94 %

,

5/15/2025

$

2,800,000

$

2,795,416

United

States

Treasury

Bill,

4.31 %

,

8/7/2025

2,950,000

2,916,432

United

States

Treasury

Bill,

4.15 %

,

10/2/2025

3,250,000

3,193,15

United

States

Treasury

Bill,

3.87 %

,

3/19/2026

3,000,000

2,899,449

Total

U.S.

Government

&

Agencies

(Cost $11,802,882)

11,804,448

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

OPTIONS

PURCHASED

-

0.44%

CALL

OPTIONS

PURCHASED

—

0.19%

Cboe

Volatility

Index

581

$

1,435,070

$

50.00 May

2025

$

14,816

Cboe

Volatility

Index

527

1,301,690

75.00 June

2025

19,499

Total

Call

Options

Purchased

(Cost

$60,935)

34,315

PUT

OPTIONS

PURCHASED

—

0.25%

S&P

500®

Index

21,162,428

4,710.00

May

2025

17,290

S&P

500®

Index

0,605,522

4,125.00

June

2025

27,750

Total

Put

Options

Purchased

(Cost

$128,189)

45,040

Total

Options

Purchased

(Cost

$189,124)

79,355

Total

Investments

—

65.32%

(Cost

$11,992,006)

11,883,80

Other

Assets

in

Excess

of

Liabilities — 34.68%

6,308,67

NET

ASSETS

—

100.00%

$

18,192,477

(a) The

rate

shown

represents

effective

yield

at

April

30,

2025. (c) Security,

or

a

portion

thereof,

has

been

pledged

as

collateral

on

written

options.

The

total

collateral

pledged

is

$11,804,448.

Belmont

Theta

Income

Fund

Schedule

of

Open

Written

Options

Contracts

April

30,

2025

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

OPTIONS

-

(2.29)%

WRITTEN

PUT

OPTIONS

-

(2.29)%

S&P

500®

Index

(38) $

(21,162,428)

$

5,440.00

May

2025

$

(208,810)

S&P

500®

Index

(37) (20,605,522)

5,120.00

June

2025

(207,940)

Total

Written

Put

Options

(Premiums

Received

$732,038)

(416,750)

Total

Written

Options

(Premiums

Received

$732,038)

$

(416,750)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Valued Advisers Trust

- **b. Investment Company Act file number:** 811-22208

- **c. CIK number of Registrant:** 0001437249

- **d. LEI of Registrant:** 549300W12YUPFS7QVT86

- **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:** BELMONT THETA INCOME FUND

- **b. EDGAR series identifier (if any):** S000061578

- **c. LEI of Series:** 5493000HNYDVD2ZE6T50

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $18673974.65

**Total Liabilities:** $486122.20

**Net Assets:** $18187852.45

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199439 | -0.37%               | -5.19%               | -2.35%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.01                    | $-2616.15                                  |
| Month 2  | $0.00                    | $-5060.72                                  |
| Month 3  | $0.02                    | $1777.94                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THE OPTIONS CLEARING CORPORATION | S & P 500 Index Put @ 5120 June 2025      | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -37 | NS      | $-207940.00   | -1.14%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills     | United States Treasury Bill               | CUSIP: 912797MG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2950000 | PA      | $2916432.27   | 16.04%            | 2025-08-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | S & P 500 Index Put @ 5440 May 2025       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -38 | NS      | $-208810.00   | -1.15%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills     | United States Treasury Bill               | CUSIP: 912797MS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3250000 | PA      | $3193151.55   | 17.56%            | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills     | United States Treasury Bill               | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2899448.79   | 15.94%            | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | S & P 500 Index Put @ 4170 May 2025       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |        38 | NS      | $17290.00     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills     | United States Treasury Bill               | CUSIP: 912797LB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2800000 | PA      | $2795415.78   | 15.37%            | 2025-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | CBOE Volatility Index Call @ 75 June 2025 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       527 | NS      | $19499.00     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | S & P 500 Index Put @ 4125 June 2025      | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |        37 | NS      | $27750.00     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                              | Reich & Tang Deposit Account              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   4796649 | PA      | $4796648.56   | 26.37%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | CBOE Volatility Index Call @ 50 May 2025  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       581 | NS      | $14815.50     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** Valued Advisers Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller