Valued Advisers Trust NPORT-P Foundry Partners Fundamental Small Cap Value Fund (Jan 2023 report)

Foundry

Partners

Fundamental

Small

Cap

Value

Fund

Schedule

of

Investments

January

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

96.85%

Shares

Fair

Value

Consumer

Discretionary

—

9.95%

Dana,

Inc.

312,825‌

$

5,674,646‌

Group

1

Automotive,

Inc.

9,495‌

2,030,506‌

Guess,

Inc.

100,916‌

2,338,223‌

Hanesbrands,

Inc.

378,720‌

3,196,397‌

International

Game

Technology

PLC

165,749‌

4,384,061‌

KB

Home

71,888‌

2,764,094‌

Kontoor

Brands,

Inc.

88,396‌

4,221,792‌

24,609,719‌

Consumer

Staples

—

2.47%

Primo

Water

Corp.

152,971‌

2,393,996‌

United

Natural

Foods,

Inc.

(a)

89,219‌

3,713,295‌

6,107,291‌

Energy

—

9.78%

Chord

Energy

Corp.

20,186‌

2,893,259‌

Comstock

Resources,

Inc.

179,705‌

2,183,416‌

Enerplus

Corp.

238,795‌

4,238,611‌

EnerSys

31,633‌

2,626,172‌

Murphy

Oil

Corp.

43,196‌

1,883,778‌

Oil

States

International,

Inc.

(a)

456,224‌

3,905,277‌

Ranger

Oil

Corp.,

Class

A

78,820‌

3,310,440‌

World

Fuel

Services

Corp.

110,644‌

3,131,225‌

24,172,178‌

Financials

—

21.98%

Affiliated

Managers

Group,

Inc.

35,716‌

6,169,582‌

Associated

Banc-Corp.

208,831‌

4,679,903‌

Axos

Financial,

Inc.

(a)

75,347‌

3,625,698‌

CNO

Financial

Group,

Inc.

184,385‌

4,749,758‌

F.N.B.

Corp.

317,968‌

4,537,403‌

Fulton

Financial

Corp.

280,077‌

4,685,688‌

Hancock

Whitney

Corp.

91,810‌

4,726,379‌

Lazard

Ltd.,

Class

A

108,226‌

4,337,698‌

MGIC

Investment

Corp.

328,691‌

4,641,117‌

Old

National

Bancorp

204,621‌

3,580,868‌

Prosperity

Bancshares,

Inc.

37,202‌

2,822,144‌

Umpqua

Holdings

Corp.

218,887‌

3,983,743‌

Unum

Group

42,698‌

1,794,597‌

54,334,578‌

Health

Care

—

4.83%

Ironwood

Pharmaceuticals,

Inc.,

Class

A

(a)

299,939‌

3,455,297‌

MEDNAX,

Inc.

(a)

145,337‌

2,230,923‌

Sage

Therapeutics,

Inc.

(a)

32,850‌

1,456,569‌

Select

Medical

Holdings

Corp.

112,744‌

3,277,468‌

Vanda

Pharmaceuticals,

Inc.

(a)

196,538‌

1,509,412‌

11,929,669‌

Industrials

—

14.39%

Advanced

Energy

Industries,

Inc.

37,912‌

3,515,959‌

Foundry

Partners

Fundamental

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

January

31,

2023

-

(Unaudited)

Allison

Transmission

Holdings,

Inc.

105,702‌

4,765,046‌

Crane

Holding

Co.

36,941‌

4,281,831‌

Curtiss-Wright

Corp.

18,386‌

3,048,399‌

DHT

Holdings,

Inc.

309,585‌

2,653,143‌

EMCOR

Group,

Inc.

25,664‌

3,804,688‌

Hillenbrand,

Inc.

69,499‌

3,256,723‌

KBR,

Inc.

50,834‌

2,604,226‌

Kennametal,

Inc.

72,848‌

2,076,168‌

nVent

Electric

PLC

84,126‌

3,344,009‌

SMART

Global

Holdings,

Inc.

(a)

129,344‌

2,223,423‌

35,573,615‌

Materials

—

13.59%

Alamos

Gold,

Inc.,

Class

A

491,595‌

5,427,209‌

Eagle

Materials,

Inc.

32,014‌

4,676,605‌

Hudbay

Minerals,

Inc.

207,233‌

1,201,951‌

Minerals

Technologies,

Inc.

41,053‌

2,851,131‌

Pan

American

Silver

Corp.

157,634‌

2,873,668‌

UFP

Industries,

Inc.

43,475‌

4,067,086‌

Univar

Solutions,

Inc.

(a)

136,971‌

4,722,760‌

Warrior

Met

Coal,

Inc.

110,400‌

4,181,952‌

Worthington

Industries,

Inc.

63,022‌

3,584,061‌

33,586,423‌

Real

Estate

—

5.61%

Apple

Hospitality

REIT,

Inc.

189,683‌

3,363,079‌

CareTrust

REIT,

Inc.

159,628‌

3,307,492‌

CTO

Realty

Growth,

Inc.

36,254‌

712,029‌

Lexington

Realty

Trust

290,243‌

3,352,307‌

Retail

Opportunity

Investments

Corp.

198,588‌

3,143,648‌

13,878,555‌

Technology

—

12.17%

Cohu,

Inc.

(a)

95,413‌

3,442,501‌

Progress

Software

Corp.

83,155‌

4,410,541‌

Sanmina

Corp.

(a)

60,735‌

3,700,584‌

Sapiens

International

Corp.

N.V.

53,203‌

1,205,580‌

Science

Applications

International

Corp.

41,960‌

4,354,609‌

TTM

Technologies,

Inc.

(a)

333,068‌

5,235,829‌

Ultra

Clean

Holdings,

Inc.

(a)

89,512‌

3,012,079‌

Vishay

Intertechnology,

Inc.

206,996‌

4,738,138‌

30,099,861‌

Utilities

—

2.08%

National

Fuel

Gas

Co.

88,767‌

5,153,812‌

Total

Common

Stocks

(Cost $194,842,256)

239,445,701‌

MONEY

MARKET

FUNDS

-

3.50%

Federated

Hermes

Government

Obligations

Fund,

Institutional

Class,

4.15%

(b)

8,650,869‌

8,650,869‌

Total

Money

Market

Funds

(Cost

$8,650,869)

8,650,869‌

Total

Investments

—

100.35%

(Cost

$203,493,125)

248,096,570‌

Foundry

Partners

Fundamental

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

January

31,

2023

-

(Unaudited)

Liabilities

in

Excess

of

Other

Assets — (0.35)%

(869,516‌)

NET

ASSETS

—

100.00%

$

247,227,054‌

(a)

Non-income

producing

security.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2023.

REIT

-

Real

Estate

Investment

Trust