# EDGAR Filing Document

**Accession Number:** 0001650149
**File Stem:** 0000894189-25-014408
**Filing Date:** 2025-11
**Character Count:** 25911
**Document Hash:** 280d5d603ef4afca88975ef857ce5030
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014408.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000894189-25-014408

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Series Portfolios Trust
- **CENTRAL INDEX KEY:** 0001650149

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23084
- **FILM NUMBER:** 251512849

**BUSINESS ADDRESS:**
- **STREET 1:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-765-6620

**MAIL ADDRESS:**
- **STREET 1:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Palm Valley Capital Fund (Series ID: S000065375)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000211465 | Investor Class      | PVCMX           |
| C000246528 | Institutional Class | PVCIX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Palm Valley Capital Fund** | **Palm Valley Capital Fund** | **Palm Valley Capital Fund** | **Palm Valley Capital Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 21.1%** | **COMMON STOCKS - 21.1%** | **Shares** | **Value**  |
| **Animal Slaughtering and Processing - 1.5%** | **Animal Slaughtering and Processing - 1.5%** | **Animal Slaughtering and Processing - 1.5%** | |
| WH Group Ltd. - ADR | WH Group Ltd. - ADR | 159075 | $3450337 |
| **Automotive Mechanical and Electrical Repair and Maintenance - 0.9%** | **Automotive Mechanical and Electrical Repair and Maintenance - 0.9%** | **Automotive Mechanical and Electrical Repair and Maintenance - 0.9%** |  |
| Monro, Inc. | Monro, Inc. | 115058 | 2067592 |
| **Bread and Bakery Product Manufacturing - 0.7%** | **Bread and Bakery Product Manufacturing - 0.7%** | **Bread and Bakery Product Manufacturing - 0.7%** |  |
| Flowers Foods, Inc. | Flowers Foods, Inc. | 127255 | 1660678 |
| **Clothing and Clothing Accessories Retailers - 0.7%** | **Clothing and Clothing Accessories Retailers - 0.7%** | **Clothing and Clothing Accessories Retailers - 0.7%** |  |
| Carter's, Inc. | Carter's, Inc. | 55886 | 1577103 |
| **Computer Systems Design and Related Services - 2.4%** | **Computer Systems Design and Related Services - 2.4%** | **Computer Systems Design and Related Services - 2.4%** |  |
| Amdocs Ltd. | Amdocs Ltd. | 68532 | 5623051 |
| **Crude Petroleum Extraction - 1.2%** | **Crude Petroleum Extraction - 1.2%** | **Crude Petroleum Extraction - 1.2%** |  |
| Chord Energy Corp. | Chord Energy Corp. | 28543 | 2836318 |
| **Electric Power Generation - 0.3%** | **Electric Power Generation - 0.3%** | **Electric Power Generation - 0.3%** |  |
| Avista Corp. | Avista Corp. | 16266 | 615017 |
| **Fruit and Vegetable Canning, Pickling, and Drying - 0.8%** | **Fruit and Vegetable Canning, Pickling, and Drying - 0.8%** | **Fruit and Vegetable Canning, Pickling, and Drying - 0.8%** |  |
| Lassonde Industries, Inc. - Class A | Lassonde Industries, Inc. - Class A | 11783 | 1793993 |
| **General Freight Trucking, Long-Distance - 1.8%** | **General Freight Trucking, Long-Distance - 1.8%** | **General Freight Trucking, Long-Distance - 1.8%** |  |
| Heartland Express, Inc. | Heartland Express, Inc. | 481995 | 4039118 |
| **Household and Institutional Furniture Manufacturing - 0.3%** | **Household and Institutional Furniture Manufacturing - 0.3%** | **Household and Institutional Furniture Manufacturing - 0.3%** |  |
| Hooker Furnishings Corp. | Hooker Furnishings Corp. | 77292 | 784514 |
| **Janitorial Services - 0.9%** | **Janitorial Services - 0.9%** | **Janitorial Services - 0.9%** |  |
| Healthcare Services Group, Inc. <sup>(a)</sup> | Healthcare Services Group, Inc. <sup>(a)</sup> | 124651 | 2097876 |
| **Management Consulting Services - 0.7%** | **Management Consulting Services - 0.7%** | **Management Consulting Services - 0.7%** |  |
| Resources Connection, Inc. | Resources Connection, Inc. | 308493 | 1557890 |
| **Marketing Research and Public Opinion Polling - 1.0%** | **Marketing Research and Public Opinion Polling - 1.0%** | **Marketing Research and Public Opinion Polling - 1.0%** |  |
| Forrester Research, Inc. <sup>(a)</sup> | Forrester Research, Inc. <sup>(a)</sup> | 214032 | 2268739 |
| **Medical Equipment and Supplies Manufacturing - 0.7%** | **Medical Equipment and Supplies Manufacturing - 0.7%** | **Medical Equipment and Supplies Manufacturing - 0.7%** |  |
| Teleflex, Inc. | Teleflex, Inc. | 13564 | 1659691 |
| **Motor Vehicle Parts (Used) Merchant Wholesalers - 0.5%** | **Motor Vehicle Parts (Used) Merchant Wholesalers - 0.5%** | **Motor Vehicle Parts (Used) Merchant Wholesalers - 0.5%** |  |
| LKQ Corp. | LKQ Corp. | 38343 | 1170995 |
| **Natural Gas Distribution - 1.3%** | **Natural Gas Distribution - 1.3%** | **Natural Gas Distribution - 1.3%** |  |
| Northwest Natural Holding Co. | Northwest Natural Holding Co. | 65674 | 2950733 |
| **Plastics Packaging Materials and Unlaminated Film and Sheet Manufacturing - 0.8%** | **Plastics Packaging Materials and Unlaminated Film and Sheet Manufacturing - 0.8%** | **Plastics Packaging Materials and Unlaminated Film and Sheet Manufacturing - 0.8%** |  |
| Reynolds Consumer Products, Inc. | Reynolds Consumer Products, Inc. | 73485 | 1798178 |
| **Support Activities for Mining - 0.4%** | **Support Activities for Mining - 0.4%** | **Support Activities for Mining - 0.4%** |  |
| RPC, Inc. | RPC, Inc. | 213522 | 1016365 |
| **Temporary Help Services - 4.2%** | **Temporary Help Services - 4.2%** | **Temporary Help Services - 4.2%** |  |
| Kelly Services, Inc. - Class A | Kelly Services, Inc. - Class A | 311957 | 4092876 |
| ManpowerGroup, Inc. | ManpowerGroup, Inc. | 61406 | 2327287 |
| Robert Half, Inc. | Robert Half, Inc. | 42389 | 1440378 |
| TrueBlue, Inc. <sup>(a)</sup> | TrueBlue, Inc. <sup>(a)</sup> | 277618 | 1701798 |
|  |  |  | 9562339 |
| **TOTAL COMMON STOCKS** (Cost $48,223,340) | **TOTAL COMMON STOCKS** (Cost $48,223,340) | **TOTAL COMMON STOCKS** (Cost $48,223,340) | 48530527 |
| **EXCHANGE TRADED FUNDS - 3.9%** | **EXCHANGE TRADED FUNDS - 3.9%** | **Shares** | **Value**  |
| Sprott Physical Gold Trust<sup>(a)</sup> | Sprott Physical Gold Trust<sup>(a)</sup> | 114347 | 3386958 |
| Sprott Physical Silver Trust<sup>(a)</sup> | Sprott Physical Silver Trust<sup>(a)</sup> | 360087 | 5653366 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $4,602,762) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $4,602,762) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $4,602,762) | 9040324 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.0%** | **REAL ESTATE INVESTMENT TRUSTS - 1.0%** | **Shares** | **Value**  |
| **Lessors of Other Real Estate Property - 1.0%** | **Lessors of Other Real Estate Property - 1.0%** | **Lessors of Other Real Estate Property - 1.0%** |  |
| Farmland Partners, Inc. | Farmland Partners, Inc. | 207550 | 2258144 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,159,770) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,159,770) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,159,770) | 2258144 |
| **SHORT-TERM INVESTMENTS – 74.0%** | **SHORT-TERM INVESTMENTS – 74.0%** |  |  |
| **U.S. TREASURY BILLS - 63.1%** | **U.S. TREASURY BILLS - 63.1%** | **Par** | **Value**  |
| 4.13%, 10/16/2025 <sup>(b)</sup> | 4.13%, 10/16/2025 <sup>(b)</sup> | 44770000 | 44694470 |
| 4.20%, 12/04/2025 <sup>(b)</sup> | 4.20%, 12/04/2025 <sup>(b)</sup> | 24100000 | 23933212 |
| 4.21%, 01/15/2026 <sup>(b)</sup> | 4.21%, 01/15/2026 <sup>(b)</sup> | 45519000 | 45012507 |
| 4.03%, 02/19/2026 <sup>(b)</sup> | 4.03%, 02/19/2026 <sup>(b)</sup> | 32307000 | 31835583 |
|  |  |  | 145475772 |
| **MONEY MARKET FUNDS - 10.9%** | **MONEY MARKET FUNDS - 10.9%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 4.02%<sup>(c)</sup> | First American Treasury Obligations Fund - Class X, 4.02%<sup>(c)</sup> | 25143690 | 25143690 |
|  |  |  | 25143690 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $170,534,975) |  |  | 170619462 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $225,520,847**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $225,520,847**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $225,520,847**)** | 230448457 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(d)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(d)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(d)</sup> | 45787 |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $230494244 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

ADR - American Depositary Receipt<br>

(a) Non-income producing security.

(b) The rate shown is the yield to maturity as of September 30, 2025.

(c) The rate shown represents the 7-day annualized yield as of September 30, 2025.

(d) Represents less than 0.05% of net assets.

------

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
Palm Valley Capital Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $48530527 | $– | $– | $48530527 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 9040324 | – | – | 9040324 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 2258144 | – | – | 2258144 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bills | – | 145475772 | – | 145475772 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 25143690 | – | – | 25143690 |
| Total Investments | $84972685 | $145475772 | $– | $230448457 |
| During the period ended September 30, 2025, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3. Refer to the Schedule of Investments for further information on the classifications of investments. | During the period ended September 30, 2025, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3. Refer to the Schedule of Investments for further information on the classifications of investments. | During the period ended September 30, 2025, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3. Refer to the Schedule of Investments for further information on the classifications of investments. | During the period ended September 30, 2025, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3. Refer to the Schedule of Investments for further information on the classifications of investments. | During the period ended September 30, 2025, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3. Refer to the Schedule of Investments for further information on the classifications of investments. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-23084

- **c. CIK number of Registrant:** 0001650149

- **d. LEI of Registrant:** 5493008VNHP5UNYJ3713

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-765-6047

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

- **a. Name of Series:** Palm Valley Capital Fund

- **b. EDGAR series identifier (if any):** S000065375

- **c. LEI of Series:** 54930013QQDI1K9CBM57

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

- **a. Date of fiscal year-end:** 2025-12-31

- **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:** $231467733.25

**Total Liabilities:** $803501.35

**Net Assets:** $230664231.90

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2814.992391000000 | **1-Year:** 298.401339000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000211465 | -0.08%               | 2.02%                | 0.40%                |
| Class ID C000246528 | 0.00%                | 2.02%                | 0.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-694956.96              | $187909.04                                 |
| Month 2  | $512126.84               | $3459124.98                                |
| Month 3  | $1334323.20              | $-976981.58                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kelly Services Inc             | Kelly Services Inc                       | CUSIP: 488152208<br>LEI: 25490035B2ZPL6RM1974 | Long             | EC               | CORP              | US        |    311957 | NS      | $4092875.84   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                       | LKQ Corp                                 | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     38343 | NS      | $1170995.22   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Co   | Northwest Natural Holding Co             | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |     65674 | NS      | $2950732.82   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC Inc                        | RPC Inc                                  | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    213522 | NS      | $1016364.72   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Reynolds Consumer Products Inc | Reynolds Consumer Products Inc           | CUSIP: 76171L106<br>LEI: 894500ZQLNYY77S80A06 | Long             | EC               | CORP              | US        |     73485 | NS      | $1798177.95   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill              | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32307000 | PA      | $31835583.04  | 13.80%            | 2026-02-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill              | CUSIP: 912797QF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  44770000 | PA      | $44694469.43  | 19.38%            | 2025-10-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill              | CUSIP: 912797RJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  45519000 | PA      | $45012507.36  | 19.51%            | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Teleflex Inc                   | Teleflex Inc                             | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |     13564 | NS      | $1659691.04   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp                              | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     16266 | NS      | $615017.46    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                   | Carter's Inc                             | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |     52832 | NS      | $1490919.04   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc              | Flowers Foods Inc                        | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |    127255 | NS      | $1660677.75   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research Inc         | Forrester Research Inc                   | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |    214032 | NS      | $2268739.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TrueBlue Inc                   | TrueBlue Inc                             | CUSIP: 89785X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    277618 | NS      | $1701798.34   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Lassonde Industries Inc        | Lassonde Industries Inc                  | CUSIP: 517907101<br>LEI: 549300U3Y8OW3GQ0VE25 | Long             | EC               | CORP              | CA        |     11783 | NS      | $1793992.86   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Monro Inc                      | Monro Inc                                | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115058 | NS      | $2067592.26   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WH Group Ltd                   | WH Group Ltd                             | CUSIP: 92890T205<br>LEI: 254900A4AYEDRWYSE928 | Long             | EC               | CORP              | HK        |    159075 | NS      | $3450336.75   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp                        | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     28543 | NS      | $2836317.91   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill              | CUSIP: 912797QS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  24100000 | PA      | $23933211.85  | 10.38%            | 2025-12-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Farmland Partners Inc          | Farmland Partners Inc                    | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               | CORP              | US        |    207550 | NS      | $2258144.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |  25585101 | NS      | $25585100.89  | 11.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc  | Healthcare Services Group Inc            | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |    124651 | NS      | $2097876.33   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Heartland Express Inc          | Heartland Express Inc                    | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |    481995 | NS      | $4039118.10   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Hooker Furnishings Corp        | Hooker Furnishings Corp                  | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77292 | NS      | $784513.80    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc              | ManpowerGroup Inc                        | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     61406 | NS      | $2327287.40   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc       | Resources Connection Inc                 | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    308493 | NS      | $1557889.65   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc                | Robert Half Inc                          | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     42389 | NS      | $1440378.22   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Physical Gold Trust     | Sprott Physical Gold Trust               | CUSIP: 85207H104<br>LEI: N/A                  | Long             | EC               | RF                | CA        |    122253 | NS      | $3621133.86   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Physical Silver Trust   | Sprott Physical Silver Trust             | CUSIP: 85207K107<br>LEI: N/A                  | Long             | EC               | RF                | CA        |    371273 | NS      | $5828986.10   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd                               | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | US        |     68532 | NS      | $5623050.60   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Series Portfolios Trust

**Signature:** /s/ Ryan Roell

**Name of Signer:** Series Portfolios Trust

**Title:** President