Valued Advisers Trust NPORT-P Belmont Theta Income Fund (Apr 2023 report)

Belmont

Theta

Income

Fund

Schedule

of

Investments

April

30,

2023

-

(Unaudited)

U.S.

GOVERNMENT

&

AGENCIES

(a)(b)(c)

—

87.82%

Principal

Amount

Fair

Value

United

States

Treasury

Bill,

2.03

%

,

5/18/2023

$

1,000,000‌

$

997,953‌

United

States

Treasury

Bill,

4.55

%

,

6/1/2023

1,000,000‌

996,325‌

United

States

Treasury

Bill,

3.10

%

,

8/10/2023

1,000,000‌

986,271‌

United

States

Treasury

Bill,

4.60

%

,

11/2/2023

1,250,000‌

1,219,488‌

United

States

Treasury

Bill,

4.67

%

,

11/30/2023

1,000,000‌

973,854‌

United

States

Treasury

Bill,

4.55

%

,

12/28/2023

1,000,000‌

970,829‌

United

States

Treasury

Bill,

4.53

%

,

1/25/2024

2,000,000‌

1,933,180‌

United

States

Treasury

Bill,

4.49

%

,

3/21/2024

2,000,000‌

1,916,791‌

Total

U.S.

Government

&

Agencies

(Cost $10,010,863)

9,994,691‌

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

CALL

OPTIONS

PURCHASED

—

0.10%

S&P

500

Index

(c)

84‌

$

35,023,632

$

4,425.00

May

2023

$

11,760‌

PUT

OPTIONS

PURCHASED

—

0.16%

S&P

500

Index

(c)

84‌

35,023,632

3,550.00

May

2023

18,480‌

Total

Options

Purchased

(Cost

$50,861)

30,240‌

Total

Investments

—

88.08%

(Cost

$10,061,724)

10,024,931‌

Other

Assets

in

Excess

of

Liabilities — 11.91%

1,355,489‌

NET

ASSETS

—

100.00%

$

11,380,420‌

(a)

Securities

are

held

as

collateral

for

options.

(b)

The

rate

shown

represents

effective

yield

at

time

of

purchase.

(c)

Non-income

producing

security.

Belmont

Theta

Income

Fund

Schedule

of

Open

Written

Options

Contracts

April

30,

2023

-

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

CALL

OPTIONS

(1.35)%

S&P

500

Index

(a)

(84)

$

(35,023,632‌)

$

4,275.00‌

May

2023

$

(154,980‌)

WRITTEN

PUT

OPTIONS

(0.35)%

S&P

500

Index

(a)

(84)

(35,023,632‌)

3,750.00‌

May

2023

(39,480‌)

Total

Written

Options

(Premiums

Received

$172,235)

$

(194,460‌)

(a)

Non-income

producing

security.