Unified Series Trust NPORT-P Channel Short Duration Income Fund (Dec 2023 report)

Channel

Short

Duration

Income

Fund

Schedule

of

Investments

December

31,

2023

(Unaudited)

CORPORATE

BONDS

—

91.41%

Principal

Amount

Fair

Value

Corporate

Bonds

-

Domestic

—

87.70%

American

Airlines

Pass

Through

Trust,

Series

2017-2,

3.70%,

10/15/2025

$

332,937‌

$

309,843‌

American

Airlines

Pass

Through

Trust,

Series

2016-3,

3.75%,

10/15/2025

974,156‌

912,436‌

American

Airlines

Pass

Through

Trust,

Series

2016-2,

3.65%,

12/15/2029

944,300‌

841,320‌

Apache

Corp.,

4.38%,

10/15/2028

750,000‌

712,490‌

B&G

Foods,

Inc.,

5.25%,

9/15/2027

400,000‌

364,502‌

Bank

of

America

Corp.,

3.56%,

4/23/2027

400,000‌

385,342‌

Callon

Petroleum

Co.,

6.38%,

7/1/2026

500,000‌

500,024‌

Celanese

US

Holdings

LLC,

6.33%,

7/15/2029

600,000‌

630,142‌

Charles

Schwab

Corp./The,

6.14%,

8/24/2034

300,000‌

317,055‌

Cheniere

Energy

Partners

LP,

4.50%,

10/1/2029

1,000,000‌

955,772‌

Comerica,

Inc.,

2.50%,

7/23/2024

1,200,000‌

1,175,527‌

Comerica,

Inc.,

4.00%,

7/27/2025

300,000‌

291,579‌

Continental

Airlines

Pass

Through

Trust,

Series

2012-2

A,

4.00%,

10/29/2024

1,410,345‌

1,385,280‌

Delta

Air

Lines,

Inc.,

Series

2019-1,

3.20%,

4/25/2024

400,000‌

397,524‌

Deutsche

Bank

AG/New

York

NY,

7.90%,

11/26/2025

(SOFRRATE

+

258bps)

(a)

350,000‌

344,344‌

Discovery

Communications

LLC,

4.13%,

5/15/2029

500,000‌

474,612‌

DISH

DBS

Corp.,

5.88%,

11/15/2024

600,000‌

566,309‌

Dominion

Energy

Inc.,

4.35%,

1/15/2167

(H15T5Y

+

319.5bps)

250,000‌

222,873‌

Edison

International,

4.70%,

8/15/2025

550,000‌

543,851‌

Edison

International,

5.38%,

9/15/2069

(3MO

LIBOR

+

370bps)

(a)

700,000‌

667,173‌

Energy

Transfer

LP,

6.50%,

11/15/2167

(3MO

LIBOR

+

465bps)

(a)

1,000,000‌

951,887‌

EQM

Midstream

Partners

LP,

4.13%,

12/1/2026

500,000‌

483,393‌

EQT

Corp.,

5.70%,

4/1/2028

750,000‌

763,630‌

Fifth

Third

Bank

NA,

3.85%,

3/15/2026

500,000‌

481,217‌

First

Horizon

Bank,

5.75%,

5/1/2030

750,000‌

710,468‌

Genworth

Holdings,

Inc.,

7.64%,

11/15/2036

(3MO

LIBOR

+

200bps)

2,500,000‌

1,868,623‌

Goldman

Sachs

Group,

Inc./The,

5.89%,

10/21/2024

(SOFRRATE

+

49bps)

(a)

500,000‌

498,954‌

Gulfport

Energy

Corp.,

8.00%,

5/17/2026

500,000‌

506,806‌

iHeartCommunications,

Inc.,

8.38%,

5/1/2027

950,000‌

639,349‌

KeyBank

NA,

5.72%,

6/14/2024

(SOFRRATE

+

32bps)

(a)

800,000‌

795,768‌

KeyBank

NA,

3.30%,

6/1/2025

750,000‌

722,919‌

Occidental

Petroleum

Corp.,

7.20%,

3/15/2029

562,000‌

600,050‌

Ovintiv,

Inc.,

5.65%,

5/15/2028

750,000‌

766,173‌

Plains

All

American

Pipeline

LP,

3.55%,

12/15/2029

600,000‌

552,681‌

Sprint

Capital

Corp.,

6.88%,

11/15/2028

950,000‌

1,029,365‌

Synovus

Bank,

5.63%,

2/15/2028

500,000‌

482,470‌

T-Mobile

USA,

Inc.,

2.63%,

2/15/2029

300,000‌

270,528‌

Truist

Bank,

2.25%,

3/11/2030

600,000‌

499,143‌

United

Airlines

Pass

Through

Trust,

Series

2013-1,

4.30%,

8/15/2025

138,313‌

133,595‌

United

Airlines

Pass

Through

Trust,

Series

2014-1,

4.00%,

4/11/2026

695,573‌

661,146‌

United

Airlines

Pass

Through

Trust,

Series

2014-2,

3.75%,

9/3/2026

885,336‌

835,399‌

United

Airlines

Pass

Through

Trust,

Series

2020-1,

5.88%,

4/15/2029

388,190‌

392,727‌

US

Airways

Pass

Through

Trust,

Series

2013-1,

3.95%,

11/15/2025

379,191‌

357,526‌

Channel

Short

Duration

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2023

(Unaudited)

CORPORATE

BONDS

—

91.41%

-

continued

Principal

Amount

Fair

Value

Western

Midstream

Operating

LP,

4.50%,

3/1/2028

$

350,000‌

$

339,244‌

TOTAL

CORPORATE

BONDS

-

DOMESTIC

(Cost $26,602,928)

27,341,059‌

Corporate

Bonds

-

Foreign

—

3.71%

Corporate

Bonds

-

Canada

-

0.74%

Enbridge

Inc.,

5.75%,

7/15/2080

250,000‌

230,232‌

Corporate

Bonds

-

Ireland

-

1.69%

AerCap

Ireland

Capital

DAC,

6.15%,

9/30/2030

500,000‌

527,848‌

Corporate

Bonds

-

Switzerland

-

1.28%

Credit

Suisse

AG,

4.75%,

8/9/2024

400,000‌

397,672‌

TOTAL

CORPORATE

BONDS

-

FOREIGN

(Cost $1,115,630)

1,155,752‌

TOTAL

CORPORATE

BONDS

(Cost $27,718,558)

28,496,811‌

U.S.

GOVERNMENT

&

AGENCIES

—

6.52%

United

States

Treasury

Note,

3.75

%

,

12/31/2028

1,250,000‌

1,244,614‌

United

States

Treasury

Note,

4.50

%

,

11/15/2033

750,000‌

788,027‌

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $1,996,295)

2,032,641‌

MONEY

MARKET

FUNDS

-

2.71%

Shares

Fidelity

Investments

Money

Market

Government

Portfolio,

Class

I,

5.25%

(b)

843,545‌

843,545‌

TOTAL

MONEY

MARKET

FUNDS

(Cost

$843,545)

843,545‌

TOTAL

INVESTMENTS

—

100.64%

(Cost

$30,558,398)

31,372,997‌

Liabilities

in

Excess

of

Other

Assets — (0.64)%

(198,015‌)

NET

ASSETS

—

100.00%

$

31,174,982‌

(a)

Variable

rate

security.

The

rate

shown

is

the

effective

interest

rate

as

of

December

31,

2023.

The

benchmark

on

which

the

rate

is

calculated

is

shown

parenthetically.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

December

31,

2023.