# EDGAR Filing Document

**Accession Number:** 0001558107
**File Stem:** 0001049169-25-000648
**Filing Date:** 2025-11
**Character Count:** 13619
**Document Hash:** 40673d5b39185344fd5b5daa1f00896b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-25-000648.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001049169-25-000648

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALPS Series Trust
- **CENTRAL INDEX KEY:** 0001558107

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22747
- **FILM NUMBER:** 251514425

**BUSINESS ADDRESS:**
- **STREET 1:** 1290 BROADWAY, SUITE 1000
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80203
- **BUSINESS PHONE:** 303.623.2577

**MAIL ADDRESS:**
- **STREET 1:** 1290 BROADWAY, SUITE 1000
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80203

## Series and Classes Contracts Data

### Clarkston Founders Fund (Series ID: S000053615)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000168469 | Institutional Class | CIMDX           |
| C000225903 | Founders Class      | CFMDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ALPS SERIES TRUST

- **b. Investment Company Act file number:** 811-22747

- **c. CIK number of Registrant:** 0001558107

- **d. LEI of Registrant:** 5493000QN25IZZPUSL66

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

  - **Street Address 1:** 1290 BROADWAY SUITE 1000

  - **City:** DENVER

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80203

  - **Telephone number:** 3036235277

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

- **a. Name of Series:** Clarkston Founders Fund

- **b. EDGAR series identifier (if any):** S000053615

- **c. LEI of Series:** 549300YSYNISISIRGJ47

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $787381620.19

**Total Liabilities:** $544487.80

**Net Assets:** $786837132.39

**Cash Not Reported:** $32387778.41

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000225903 | 0.37%                | 2.77%                | -0.18%               |
| Class ID C000168469 | 0.37%                | 2.78%                | -0.12%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12801268.27             | $-9441695.88                               |
| Month 2  | $1561949.03              | $19699751.64                               |
| Month 3  | $4274204.30              | $-5784578.27                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| International Flavors & Fragrances Inc | International Flavors & Fragrances, Inc. | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |    105000 | NS      | $6461700.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                           | Fortive Corp.                            | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |    460000 | NS      | $22535400.00  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Iqvia Holdings Inc                     | IQVIA Holdings, Inc.                     | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |    150000 | NS      | $28491000.00  | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc                       | Henry Schein, Inc.                       | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |    300000 | NS      | $19911000.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc               | Lamb Weston Holdings, Inc.               | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |    525000 | NS      | $30492000.00  | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Gfl Environmental Inc                  | GFL Environmental Inc.                   | CUSIP: 36168Q104<br>LEI: 894500E7NLBY9VZRT696 | Long             | EC               | CORP              | CA        |    605000 | NS      | $28664900.00  | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                      | Brown & Brown, Inc.                      | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     95000 | NS      | $8910050.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                            | Gartner, Inc.                            | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     66000 | NS      | $17349420.00  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lkq Corp                               | LKQ Corp.                                | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |    800000 | NS      | $24432000.00  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc          | Affiliated Managers Group, Inc.          | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |    240879 | NS      | $57432779.97  | 7.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc              | Warner Bros. Discovery, Inc.             | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |   1735000 | NS      | $33884550.00  | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/the                | The Charles Schwab Corp.                 | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    265000 | NS      | $25299550.00  | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp                      | Primo Brands Corp.                       | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |    495000 | NS      | $10939500.00  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co               | Molson Coors Beverage Co.                | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |    590000 | NS      | $26697500.00  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Us Foods Holding Corp                  | US Foods Holding Corp.                   | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    385000 | NS      | $29498700.00  | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-busch Inbev Sa/nv             | Anheuser-Busch InBev SA/NV - ADR         | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |    355000 | NS      | $21161550.00  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Idex Corp                              | IDEX Corp.                               | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     65000 | NS      | $10579400.00  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lpl Financial Holdings Inc             | LPL Financial Holdings Inc.              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     65000 | NS      | $21624850.00  | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                            | Avantor, Inc.                            | CUSIP: 05352A100<br>LEI: 5493003VM0XB4U8YD238 | Long             | EC               | CORP              | US        |   3290000 | NS      | $41059200.00  | 5.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/the                      | Middleby Corp.                           | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |    138733 | NS      | $18441777.69  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc                      | Post Holdings, Inc.                      | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |    530000 | NS      | $56964400.00  | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Clarivate Plc                          | Clarivate PLC                            | CUSIP: G21810109<br>LEI: 549300WDHIIODXFO0R55 | Long             | EC               | CORP              | JE        |  13555000 | NS      | $51915650.00  | 6.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ccc Intelligent Solutions Holdings Inc | CCC Intelligent Solutions Holdings, Inc. | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1600000 | NS      | $14576000.00  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                  | Becton Dickinson & Co.                   | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    132000 | NS      | $24706440.00  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ch Robinson Worldwide Inc              | CH Robinson Worldwide, Inc.              | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |    190000 | NS      | $25156000.00  | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc                   | Medpace Holdings, Inc.                   | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     26000 | NS      | $13368160.00  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                   | Align Technology, Inc.                   | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     90000 | NS      | $11269800.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson Plc               | Willis Towers Watson PLC                 | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |     85000 | NS      | $29363250.00  | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                             | Sysco Corp.                              | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    175000 | NS      | $14409500.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Fedex Corp                             | FedEx Corp.                              | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |    122000 | NS      | $28768820.00  | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** ALPS SERIES TRUST

**Signature:** Jill McFate

**Name of Signer:** Jill McFate

**Title:** Treasurer