# EDGAR Filing Document

**Accession Number:** 0001437249
**File Stem:** 0000910472-25-006679
**Filing Date:** 2025-12
**Character Count:** 21407
**Document Hash:** d8a6a53016c55b14b320f1de4ed12f7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-006679.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000910472-25-006679

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**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:** 251611450

**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

### CHANNING INTRINSIC VALUE SMALL-CAP FUND (Series ID: S000071821)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000227329 | Institutional Class | OWLLX           |

## Nport-Ex

Channing

Intrinsic

Value

Small-Cap

Fund

Schedule

of

Investments

October

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

97.48%

Shares

Fair

Value

Communication

Services

—

4.08%

Madison

Square

Garden

Entertainment

Corp.

(a) 4,367

$

192,847

Nexstar

Media

Group,

Inc.

1,017

199,057

391,904

Consumer

Discretionary

—

12.68%

Asbury

Automotive

Group,

Inc.

(a) 827

194,014

Boyd

Gaming

Corp.

2,498

194,519

Brunswick

Corp.

3,139

207,519

Installed

Building

Products,

Inc.

718

178,229

OneSpaWorld

Holdings

Ltd.

9,788

227,767

Valvoline,

Inc.

(a) 6,566

216,744

1,218,792

Energy

—

1.53%

Northern

Oil

and

Gas,

Inc.

6,666

147,519

Financials

—

20.84%

Affiliated

Managers

Group,

Inc.

1,108

263,660

Artisan

Partners

Asset

Management,

Inc.,

Class

A

5,220

227,905

Cadence

Bank

2,561

96,652

Columbia

Banking

System,

Inc.

9,110

244,149

Evercore,

Inc.,

Class

A

827

243,601

First

American

Financial

Corp.

4,145

259,104

Renasant

Corp.

5,983

201,208

Stifel

Financial

Corp.

1,990

235,676

Wintrust

Financial

Corp.

1,774

230,655

2,002,610

Industrials

—

29.39%

ATI,

Inc.

(a) 2,912

288,201

Atmus

Filtration

Technologies,

Inc.

5,206

236,769

Brink's

Co.

(The)

2,503

278,233

Gates

Industrial

Corp.

PLC

(a) 10,984

242,526

Herc

Holdings,

Inc.

1,871

265,776

Hexcel

Corp.

4,190

299,166

McGrath

RentCorp

2,123

228,095

MSA

Safety,

Inc.

1,537

241,355

Parsons

Corp.

(a) 3,422

284,505

SPX

Technologies,

Inc.

(a) 1,008

225,681

Timken

Co.

(The)

2,970

233,175

2,823,482

Information

Technology

—

12.87%

Advanced

Energy

Industries,

Inc.

1,151

233,342

Crane

NXT,

Inc.

2,960

187,220

FormFactor,

Inc.

(a) 2,635

144,793

Littelfuse,

Inc.

926

225,305

MKS,

Inc.

1,761

253,074

Onto

Innovation,

Inc.

(a) 1,430

192,993

1,236,727

Channing

Intrinsic

Value

Small-Cap

Fund

Schedule

of

Investments

(continued)

October

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

97.48%

-

(continued)

Shares

Fair

Value

Materials

—

6.61%

Avient

Corp.

6,399

$

205,216

Axalta

Coating

Systems

Ltd.

(a) 8,247

234,792

Louisiana-Pacific

Corp.

2,246

195,649

635,657

Real

Estate

—

7.44%

Corporate

Office

Properties

Trust

7,962

224,290

Cushman

&

Wakefield

plc

(a) 14,988

235,311

STAG

Industrial,

Inc.

6,671

255,299

714,900

Utilities

—

2.04%

Southwest

Gas

Holdings,

Inc.

2,472

196,524

Total

Common

Stocks

(Cost $7,827,910)

9,368,115

MONEY

MARKET

FUNDS

-

2.37%

First

American

Treasury

Obligations

Fund,

Class

X,

3.98%

(b) 228,137

228,137

Total

Money

Market

Funds

(Cost

$228,137)

228,137

Total

Investments

—

99.85%

(Cost

$8,056,047)

9,596,252

Other

Assets

in

Excess

of

Liabilities — 0.15%

14,433

NET

ASSETS

—

100.00%

$

9,610,685

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

October

31,

2025. The

sectors

shown

on

the

schedule

of

investments

are

based

on

the

Global

Industry

Classification

Standard,

or GICS®

("GICS").

The

GICS

was

developed

by

and/or

is

the

exclusive

property

of

MSCI,

Inc.

and

Standard

&

Poor's

Financial

Services

LLC

("S&P").

GICS

is

a

service

mark

of

MSCI,

Inc.

and

S&P

and

has

been

licensed

for

use

by

Ultimus

Fund

Solutions,

LLC.

## 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:** CHANNING INTRINSIC VALUE SMALL-CAP FUND

- **b. EDGAR series identifier (if any):** S000071821

- **c. LEI of Series:** 549300N7TFIJV4V5EN41

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

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

- **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:** $9653338.92

**Total Liabilities:** $42653.43

**Net Assets:** $9610685.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227329 | 6.39%                | -0.35%               | 0.61%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $123301.60               | $442927.12                                 |
| Month 2  | $135665.33               | $-186214.43                                |
| Month 3  | $166870.75               | $-98571.23                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Herc Holdings Inc                            | HERC HOLDINGS IN                         | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |      1871 | NS      | $265775.55    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                      | ATI, Inc.                                | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |      2912 | NS      | $288200.64    | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                       | SPX Technologies, Inc.                   | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1008 | NS      | $225681.12    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                                 | Evercore Partners, Inc.                  | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |       827 | NS      | $243601.12    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                         | Onto Innovation, Inc.                    | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      1430 | NS      | $192992.80    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| The Timken Company                           | Timken Co./The                           | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      2970 | NS      | $233174.70    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Formfactor Inc                               | FormFactor, Inc.                         | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |      2635 | NS      | $144793.25    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corporation                      | Boyd Gaming Corp.                        | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      2498 | NS      | $194519.26    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corporation         | First American Financial Corp.           | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      4145 | NS      | $259103.95    | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil And Gas, Inc.                   | Northern Oil and Gas, Inc.               | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |      6666 | NS      | $147518.58    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpaWorld Holdings Ltd.                    | OneSpaWorld Holdings Ltd.                | CUSIP: P73684113<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |      9788 | NS      | $227766.76    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries, Inc.             | Advanced Energy Industries, Inc.         | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      1151 | NS      | $233342.23    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                               | Renasant Corp.                           | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |      5983 | NS      | $201208.29    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Artisan Partners Asset Management Inc.       | Artisan Partners Asset Management, Inc.  | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |      5220 | NS      | $227905.20    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                                 | Cadence Bank                             | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |      2561 | NS      | $96652.14     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana Pacific Corporation                | Louisiana-Pacific Corp.                  | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      2246 | NS      | $195649.06    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation                 | Stifel Financial Corp.                   | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      1990 | NS      | $235675.70    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation               | Wintrust Financial Corp.                 | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      1774 | NS      | $230655.48    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                      | Cushman & Wakefield PLC                  | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     14988 | NS      | $235311.60    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                    | Gates Industrial Corp. PLC               | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |     10984 | NS      | $242526.72    | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                        | STAG Industrial, Inc.                    | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |      6671 | NS      | $255299.17    | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corporation                           | Avient Corp.                             | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |      6399 | NS      | $205215.93    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc.                              | Littelfuse, Inc.                         | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |       926 | NS      | $225305.06    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc.           | Atmus Filtration Technologies Inc        | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5206 | NS      | $236768.88    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co                                 | Crane NXT Co.                            | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |      2960 | NS      | $187220.00    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                      | Nexstar Media Group, Inc.                | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      1017 | NS      | $199057.41    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Entertainment Corp New | Madison Square Garden Entertainment Corp | CUSIP: 558256103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4367 | NS      | $192846.72    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                                | Valvoline, Inc.                          | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |      6566 | NS      | $216743.66    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc.                 | Columbia Banking System, Inc.            | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9110 | NS      | $244148.00    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc                   | Southwest Gas Corp.                      | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |      2472 | NS      | $196524.00    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Asbury Automotive Group, Inc.                | Asbury Automotive Group, Inc.            | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |       827 | NS      | $194014.20    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp.                            | McGrath RentCorp                         | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |      2123 | NS      | $228095.12    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc.                                     | MKS Instruments, Inc.                    | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      1761 | NS      | $253073.31    | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corporation                          | Parsons Corp.                            | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |      3422 | NS      | $284505.08    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                      | COPT Defense Properties                  | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |      7962 | NS      | $224289.54    | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products Inc              | Installed Building Products, Inc.        | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |       718 | NS      | $178229.14    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.                    | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    228137 | PA      | $228137.34    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corporation                        | Brunswick Corp.                          | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      3139 | NS      | $207519.29    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.              | Affiliated Managers Group, Inc.          | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      1108 | NS      | $263659.68    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corporation                           | Hexcel Corp.                             | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      4190 | NS      | $299166.00    | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinks Company                               | Brink's Co./The                          | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |      2503 | NS      | $278233.48    | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc.                              | MSA Safety, Inc.                         | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      1537 | NS      | $241355.11    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Limited               | Axalta Coating Systems Ltd.              | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |      8247 | NS      | $234792.09    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

**Name of Applicant:** Valued Advisers Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer