Unified Series Trust NPORT-P Dean Equity Income Fund (Dec 2024 report)

Dean

Small

Cap

Value

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

98.77%

Shares

Fair

Value

Communications

—

1.66%

TEGNA,

Inc.

183,493‌

$

3,356,087‌

Consumer

Discretionary

—

13.73%

Carter's,

Inc.

64,026‌

3,469,569‌

Columbia

Sportswear

Co.

22,540‌

1,891,782‌

Johnson

Outdoors,

Inc.,

Class

A

73,683‌

2,431,539‌

Leggett

&

Platt,

Inc.

67,424‌

647,270‌

Malibu

Boats,

Inc.,

Class

A

(a)

73,683‌

2,769,743‌

Papa

John's

International,

Inc.

62,953‌

2,585,480‌

Rush

Enterprises,

Inc.,

Class

A

50,434‌

2,763,279‌

Silgan

Holdings,

Inc.

90,160‌

4,692,828‌

Standard

Motor

Products,

Inc.

77,797‌

2,410,151‌

Wendy's

Co.

(The)

90,316‌

1,472,151‌

Winnebago

Industries,

Inc.

56,693‌

2,708,792‌

27,842,584‌

Consumer

Staples

—

6.64%

Boston

Beer

Co.,

Inc.

(The),

Class

A

(a)

15,380‌

4,613,692‌

Cal-Maine

Foods,

Inc.

15,738‌

1,619,755‌

Fresh

Del

Monte

Produce,

Inc.

54,011‌

1,793,706‌

John

B.

Sanfilippo

&

Son,

Inc.

32,549‌

2,835,344‌

SpartanNash

Co.

41,670‌

763,394‌

Spectrum

Brands

Holdings,

Inc.

21,819‌

1,843,487‌

13,469,378‌

Energy

—

6.46%

Helmerich

&

Payne,

Inc.

178,485‌

5,715,090‌

Innovex

International,

Inc.

(a)

242,690‌

3,390,379‌

World

Kinect

Corp.

145,220‌

3,995,002‌

13,100,471‌

Financials

—

23.20%

1st

Source

Corp.

59,555‌

3,476,820‌

Camden

National

Corp.

68,676‌

2,935,212‌

Cathay

General

Bancorp

66,887‌

3,184,490‌

Diamond

Hill

Investment

Group,

Inc.

24,501‌

3,800,105‌

Employers

Holdings,

Inc.

57,230‌

2,931,893‌

Federated

Hermes,

Inc.,

Class

B

103,371‌

4,249,582‌

First

Financial

Corp.

62,058‌

2,866,459‌

Fulton

Financial

Corp.

149,334‌

2,879,160‌

Great

Southern

Bancorp,

Inc.

41,670‌

2,487,699‌

Independent

Bank

Corp.

47,584‌

3,054,417‌

PJT

Partners,

Inc.,

Class

A

7,690‌

1,213,559‌

PROG

Holdings,

Inc.

59,882‌

2,530,613‌

QCR

Holdings,

Inc.

41,670‌

3,360,269‌

S&T

Bancorp,

Inc.

60,628‌

2,317,202‌

Safety

Insurance

Group,

Inc.

11,267‌

928,401‌

Simmons

First

National

Corp.,

Class

A

132,523‌

2,939,360‌

WaFd,

Inc.

37,557‌

1,210,838‌

Dean

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

98.77%

-

continued

Shares

Fair

Value

Financials

—

23.20%

-

continued

Waterstone

Financial,

Inc.

49,897‌

$

670,616‌

47,036,695‌

Health

Care

—

2.40%

CONMED

Corp.

37,736‌

2,582,652‌

Patterson

Companies,

Inc.

53,474‌

1,650,208‌

Perrigo

Co.

PLC

24,323‌

625,344‌

4,858,204‌

Industrials

—

24.22

%

Advanced

Energy

Industries,

Inc.

52,580‌

6,079,825‌

Air

Transport

Services

Group,

Inc.

(a)

118,036‌

2,594,431‌

Alamo

Group,

Inc.

23,250‌

4,322,407‌

Astec

Industries,

Inc.

64,920‌

2,181,312‌

Bel

Fuse,

Inc.,

Class

B

63,310‌

5,221,176‌

Brady

Corp.,

Class

A

23,607‌

1,743,377‌

Columbus

McKinnon

Corp.

76,545‌

2,850,536‌

Douglas

Dynamics,

Inc.

71,895‌

1,698,879‌

ESCO

Technologies,

Inc.

33,622‌

4,478,786‌

Franklin

Covey

Co.

(a)

49,182‌

1,848,260‌

Hackett

Group,

Inc.

(The)

132,880‌

4,082,073‌

Healthcare

Services

Group,

Inc.

(a)

223,196‌

2,592,422‌

Heartland

Express,

Inc.

129,303‌

1,450,780‌

Kennametal,

Inc.

152,195‌

3,655,724‌

Werner

Enterprises,

Inc.

119,825‌

4,304,114‌

49,104,102‌

Materials

—

2.74%

Minerals

Technologies,

Inc.

53,116‌

4,047,970‌

Orion

Engineered

Carbons

SA

44,711‌

705,987‌

Stepan

Co.

12,340‌

798,398‌

5,552,355‌

Real

Estate

—

2.42%

Broadstone

Net

Lease

Inc.

85,845‌

1,361,502‌

Cousins

Properties,

Inc.

58,839‌

1,802,827‌

Getty

Realty

Corp.

58,124‌

1,751,276‌

4,915,605‌

Technology

—

10.31%

Cohu,

Inc.

(a)

102,835‌

2,745,695‌

CSG

Systems

International,

Inc.

89,421‌

4,570,306‌

Harmonic,

Inc.

(a)

141,465‌

1,871,582‌

Maximus,

Inc.

58,318‌

4,353,439‌

Verra

Mobility

Corp.

(a)

46,320‌

1,120,018‌

Viavi

Solutions,

Inc.

(a)

326,746‌

3,300,135‌

Vishay

Intertechnology,

Inc.

173,299‌

2,935,685‌

20,896,860‌

Utilities

—

5.00%

American

States

Water

Co.

14,665‌

1,139,764‌

Avista

Corp.

41,670‌

1,526,372‌

Dean

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

98.77%

-

continued

Shares

Fair

Value

Utilities

—

5.00%

-

continued

Northwest

Natural

Holding

Co.

20,030‌

$

792,387‌

Northwestern

Energy

Group,

Inc.

27,184‌

1,453,257‌

ONE

Gas,

Inc.

25,396‌

1,758,673‌

Portland

General

Electric

Co.

22,355‌

975,125‌

Spire,

Inc.

36,663‌

2,486,851‌

10,132,429‌

Total

Common

Stocks/

Total

Investments

—

98.77%

(Cost

$195,273,422)

200,264,770‌

Other

Assets

in

Excess

of

Liabilities — 1.23%

2,498,592‌

NET

ASSETS

—

100.00%

$

202,763,362‌

(a)

Non-income

producing

security.

Dean

Mid

Cap

Value

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

97.75%

Shares

Fair

Value

Communications

—

3.11%

Omnicom

Group,

Inc.

29,724‌

$

2,557,453‌

Take-Two

Interactive

Software,

Inc.

(a)

15,401‌

2,835,016‌

5,392,469‌

Consumer

Discretionary

—

9.51%

AutoZone,

Inc.

(a)

924‌

2,958,649‌

BorgWarner,

Inc.

94,255‌

2,996,366‌

Hasbro,

Inc.

25,720‌

1,438,005‌

Lithia

Motors,

Inc.,

Class

A

7,239‌

2,587,436‌

PulteGroup,

Inc.

20,021‌

2,180,287‌

Skechers

U.S.A.,

Inc.,

Class

A

(a)

32,188‌

2,164,321‌

Yum

China

Holdings,

Inc.

45,279‌

2,181,089‌

16,506,153‌

Consumer

Staples

—

9.45%

BJ's

Wholesale

Club

Holdings,

Inc.

(a)

32,034‌

2,862,238‌

Casey's

General

Stores,

Inc.

6,622‌

2,623,835‌

Conagra

Brands,

Inc.

118,589‌

3,290,845‌

Dollar

General

Corp.

35,115‌

2,662,419‌

Lamb

Weston

Holdings,

Inc.

33,882‌

2,264,334‌

US

Foods

Holding

Corp.

(a)

40,043‌

2,701,301‌

16,404,972‌

Energy

—

4.33%

Baker

Hughes

Co.,

Class

A

62,991‌

2,583,891‌

Coterra

Energy,

Inc.

85,784‌

2,190,923‌

Permian

Resources

Corp.

191,282‌

2,750,635‌

7,525,449‌

Financials

—

17.63

%

Ameriprise

Financial,

Inc.

5,852‌

3,115,780‌

Assurant,

Inc.

17,095‌

3,644,995‌

Bank

of

New

York

Mellon

Corp.

(The)

53,750‌

4,129,613‌

Hartford

Financial

Services

Group,

Inc.

(The)

27,260‌

2,982,244‌

Prosperity

Bancshares,

Inc.

49,438‌

3,725,154‌

Raymond

James

Financial,

Inc.

24,950‌

3,875,484‌

Regions

Financial

Corp.

124,287‌

2,923,230‌

Reinsurance

Group

of

America,

Inc.

15,247‌

3,257,217‌

W.R.

Berkley

Corp.

50,516‌

2,956,196‌

30,609,913‌

Health

Care

—

8.76%

Encompass

Health

Corp.

37,733‌

3,484,643‌

Jazz

Pharmaceuticals

PLC

(a)

27,414‌

3,376,034‌

Molina

Healthcare,

Inc.

(a)

8,779‌

2,555,128‌

Quest

Diagnostics,

Inc.

19,097‌

2,880,973‌

Zimmer

Biomet

Holdings,

Inc.

27,568‌

2,912,008‌

15,208,786‌

Industrials

—

14.04%

AGCO

Corp.

27,106‌

2,533,869‌

Dean

Mid

Cap

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

97.75%

-

continued

Shares

Fair

Value

Industrials

—

14.04%

-

continued

Dover

Corp.

17,865‌

$

3,351,474‌

Gates

Industrial

Corp.

PLC

(a)

118,281‌

2,433,040‌

ITT,

Inc.

18,481‌

2,640,565‌

Knight-Swift

Transportation

Holdings,

Inc.

48,976‌

2,597,687‌

L3Harris

Technologies,

Inc.

14,631‌

3,076,607‌

Littelfuse,

Inc.

10,935‌

2,576,833‌

Regal

Rexnord

Corp.

16,479‌

2,556,387‌

Republic

Services,

Inc.

12,937‌

2,602,666‌

24,369,128‌

Materials

—

3.40%

Avery

Dennison

Corp.

13,553‌

2,536,173‌

International

Flavors

&

Fragrances,

Inc.

39,735‌

3,359,594‌

5,895,767‌

Real

Estate

—

8.13%

AvalonBay

Communities,

Inc.

12,783‌

2,811,877‌

CBRE

Group,

Inc.,

Class

A

(a)

26,336‌

3,457,653‌

Regency

Centers

Corp.

39,273‌

2,903,453‌

STAG

Industrial,

Inc.

73,771‌

2,494,935‌

Weyerhaeuser

Co.

87,016‌

2,449,500‌

14,117,418‌

Technology

—

7.76%

Arrow

Electronics,

Inc.

(a)

23,410‌

2,648,139‌

Broadridge

Financial

Solutions,

Inc.

11,551‌

2,611,566‌

Global

Payments,

Inc.

23,256‌

2,606,067‌

Microchip

Technology,

Inc.

39,735‌

2,278,802‌

SS&C

Technologies

Holdings,

Inc.

43,893‌

3,326,212‌

13,470,786‌

Utilities

—

11.64%

Ameren

Corp.

39,427‌

3,514,523‌

Atmos

Energy

Corp.

21,100‌

2,938,597‌

CenterPoint

Energy,

Inc.

108,116‌

3,430,521‌

Entergy

Corp.

45,587‌

3,456,406‌

OGE

Energy

Corp.

90,559‌

3,735,558‌

Xcel

Energy,

Inc.

46,357‌

3,130,025‌

20,205,630‌

Total

Common

Stocks/

Total

Investments

—

97.75%

(Cost

$145,859,915)

169,706,471‌

Other

Assets

in

Excess

of

Liabilities — 2.25%

3,904,374‌

NET

ASSETS

—

100.00%

$

173,610,845‌

(a)

Non-income

producing

security.

Dean

Equity

Income

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

97.63%

Shares

Fair

Value

Communications

—

5.59%

BCE,

Inc.

47,745‌

$

1,106,729‌

Comcast

Corp.,

Class

A

44,334‌

1,663,855‌

Verizon

Communications,

Inc.

55,296‌

2,211,287‌

4,981,871‌

Consumer

Discretionary

—

3.82%

Home

Depot,

Inc.

(The)

5,521‌

2,147,614‌

LKQ

Corp.

34,185‌

1,256,299‌

3,403,913‌

Consumer

Staples

—

13.89%

Altria

Group,

Inc.

54,159‌

2,831,975‌

Flowers

Foods,

Inc.

54,728‌

1,130,680‌

Hershey

Co.

(The)

10,393‌

1,760,055‌

Kimberly-Clark

Corp.

17,052‌

2,234,494‌

PepsiCo,

Inc.

16,158‌

2,456,985‌

Philip

Morris

International,

Inc.

9,500‌

1,143,325‌

Sysco

Corp.

10,718‌

819,498‌

12,377,012‌

Energy

—

8.25%

Chevron

Corp.

19,244‌

2,787,301‌

EOG

Resources,

Inc.

22,898‌

2,806,837‌

Kinder

Morgan,

Inc.,

Class

P

64,066‌

1,755,408‌

7,349,546‌

Financials

—

16.8

3

%

BlackRock,

Inc.

1,868‌

1,914,905‌

Canadian

Imperial

Bank

of

Commerce

18,838‌

1,191,127‌

JPMorgan

Chase

&

Co.

11,368‌

2,725,022‌

PNC

Financial

Services

Group,

Inc.

(The)

11,043‌

2,129,643‌

PPG

Industries,

Inc.

10,150‌

1,212,418‌

Principal

Financial

Group,

Inc.

20,056‌

1,552,535‌

Prudential

Financial,

Inc.

17,133‌

2,030,774‌

T.

Rowe

Price

Group,

Inc.

19,812‌

2,240,539‌

14,996,963‌

Health

Care

—

8.43%

Amgen,

Inc.

5,521‌

1,438,994‌

Bristol-Myers

Squibb

Co.

20,624‌

1,166,493‌

Johnson

&

Johnson

15,103‌

2,184,196‌

Merck

&

Co.,

Inc.

14,372‌

1,429,727‌

Pfizer,

Inc.

48,557‌

1,288,217‌

7,507,627‌

Industrials

—

9.13%

Fastenal

Co.

29,069‌

2,090,352‌

Illinois

Tool

Works,

Inc.

4,385‌

1,111,861‌

Lockheed

Martin

Corp.,

Class

B

2,030‌

986,458‌

Paychex,

Inc.

9,987‌

1,400,377‌

Union

Pacific

Corp.

4,791‌

1,092,540‌

Dean

Equity

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2024

(Unaudited)

COMMON

STOCKS

—

97.63%

-

continued

Shares

Fair

Value

Industrials

—

9.13%

-

continued

United

Parcel

Service,

Inc.,

Class

B

11,530‌

$

1,453,932‌

8,135,520‌

Materials

—

2.98%

Air

Products

&

Chemicals,

Inc.

6,171‌

1,789,837‌

Sonoco

Products

Co.

17,782‌

868,651‌

2,658,488‌

Real

Estate

—

10.15%

American

Tower

Corp.,

Class

A

7,551‌

1,384,929‌

Digital

Realty

Trust,

Inc.

11,693‌

2,073,520‌

Essex

Property

Trust,

Inc.

6,902‌

1,970,106‌

Lamar

Advertising

Co.,

Class

A

18,513‌

2,253,773‌

Public

Storage

4,547‌

1,361,554‌

9,043,882‌

Technology

—

6.09%

Amdocs

Ltd.

15,752‌

1,341,125‌

Cisco

Systems,

Inc.

41,249‌

2,441,941‌

Texas

Instruments,

Inc.

8,769‌

1,644,275‌

5,427,341‌

Utilities

—

12.48%

Alliant

Energy

Corp.

44,659‌

2,641,133‌

American

Electric

Power

Company,

Inc.

17,458‌

1,610,151‌

Duke

Energy

Corp.

16,077‌

1,732,136‌

WEC

Energy

Group,

Inc.

30,449‌

2,863,425‌

Xcel

Energy,

Inc.

33,616‌

2,269,752‌

11,116,597‌

Total

Common

Stocks/Total

Investments

—

97.63%

(Cost

$82,475,776)

86,998,760‌

Other

Assets

in

Excess

of

Liabilities — 2.37%

2,108,084‌

NET

ASSETS

—

100.00%

$

89,106,844‌