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

Foundry

Partners

Small

Cap

Value

Fund

Schedule

of

Investments

July

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

94.78%

Shares

Fair

Value

Communications

—

0.68%

Stagwell,

Inc.,

Class

A

(a)

255,921‌

$

1,717,230‌

Consumer

Discretionary

—

9.42%

Bloomin'

Brands,

Inc.

99,250‌

2,666,848‌

Build-A-Bear

Workshop,

Inc.

100,984‌

2,479,157‌

Ethan

Allen

Interiors,

Inc.

97,131‌

3,056,713‌

Group

1

Automotive,

Inc.

9,225‌

2,384,939‌

Guess,

Inc.

151,729‌

3,184,791‌

Harley-Davidson,

Inc.

74,765‌

2,886,677‌

Hudson

Technologies,

Inc.

(a)

345,063‌

3,136,622‌

KB

Home

43,336‌

2,338,844‌

Movado

Group,

Inc.

62,490‌

1,793,463‌

23,928,054‌

Consumer

Staples

—

2.46%

Coca-Cola

Consolidated,

Inc.

4,277‌

2,709,095‌

Primo

Water

Corp.

250,131‌

3,544,356‌

6,253,451‌

Energy

—

12.39%

Berry

Corp.

416,976‌

3,252,413‌

Chord

Energy

Corp.

31,188‌

4,891,525‌

Comstock

Resources,

Inc.

298,997‌

3,812,212‌

Enerplus

Corp.

292,316‌

4,887,524‌

Murphy

Oil

Corp.

80,148‌

3,468,004‌

Oil

States

International,

Inc.

(a)

433,635‌

3,486,425‌

VAALCO

Energy,

Inc.

905,944‌

4,031,451‌

World

Fuel

Services

Corp.

161,900‌

3,649,226‌

31,478,780‌

Financials

—

16.47%

Associated

Banc-Corp

186,974‌

3,543,157‌

Enact

Holdings,

Inc.

82,985‌

2,257,192‌

Enova

International,

Inc.

(a)

84,575‌

4,659,237‌

Genworth

Financial,

Inc.,

Class

A

(a)

475,887‌

2,788,698‌

Hancock

Whitney

Corp.

119,776‌

5,271,342‌

Hope

Bancorp,

Inc.

289,805‌

3,147,282‌

Lazard

Ltd.,

Class

A

65,901‌

2,313,125‌

MGIC

Investment

Corp.

287,539‌

4,813,403‌

Rithm

Capital

Corp.

242,664‌

2,446,053‌

Sandy

Spring

Bancorp,

Inc.

106,427‌

2,604,269‌

Valley

National

Bancorp

395,449‌

4,057,307‌

Victory

Capital

Holdings,

Inc.,

Class

A

119,185‌

3,952,175‌

41,853,240‌

Health

Care

—

6.62%

Avanos

Medical,

Inc.

(a)

110,729‌

2,709,539‌

Collegium

Pharmaceutical,

Inc.

(a)

122,744‌

2,793,653‌

InMode

Ltd.

(a)

69,308‌

2,974,006‌

Ironwood

Pharmaceuticals,

Inc.,

Class

A

(a)

340,957‌

3,781,213‌

Select

Medical

Holdings

Corp.

152,392‌

4,573,284‌

16,831,695‌

Foundry

Partners

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

July

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

94.78%

-

continued

Shares

Fair

Value

Industrials

—

11.72%

Allison

Transmission

Holdings,

Inc.

81,633‌

$

4,791,041‌

Covenant

Logistics

Group,

Inc.

56,414‌

3,089,231‌

Cross

Country

Healthcare,

Inc.

(a)

112,975‌

2,914,755‌

Danaos,

Corp.

54,279‌

3,822,326‌

Hillenbrand,

Inc.

88,695‌

4,606,818‌

Moog,

Inc.,

Class

A

40,986‌

4,321,564‌

SMART

Global

Holdings,

Inc.

(a)

125,688‌

3,343,301‌

Timken

Co.

(The)

31,173‌

2,894,725‌

29,783,761‌

Materials

—

11.65%

AdvanSix,

Inc.

66,101‌

2,651,311‌

Alamos

Gold,

Inc.,

Class

A

367,569‌

4,539,477‌

Hudbay

Minerals,

Inc.

671,653‌

3,996,335‌

Minerals

Technologies,

Inc.

56,041‌

3,438,115‌

Pan

American

Silver

Corp.

164,168‌

2,771,156‌

Sonoco

Products

Co.

37,472‌

2,197,358‌

UFP

Industries,

Inc.

48,659‌

5,000,199‌

Warrior

Met

Coal,

Inc.

113,185‌

5,008,437‌

29,602,388‌

Real

Estate

—

7.65%

Apple

Hospitality

REIT,

Inc.

206,656‌

3,203,168‌

CoreCivic,

Inc.

(a)

397,638‌

3,857,089‌

Empire

State

Realty

Trust,

Inc.,

Class

A

518,064‌

4,636,673‌

Newmark

Group,

Inc.,

Class

A

437,257‌

3,025,818‌

Summit

Hotel

Properties,

Inc.

268,958‌

1,732,090‌

Whitestone

REIT

289,214‌

2,984,688‌

19,439,526‌

Technology

—

12.49%

Celestica,

Inc.

(a)

196,292‌

4,314,498‌

Cohu,

Inc.

(a)

118,552‌

5,174,794‌

Concentrix

Corp.

27,491‌

2,288,351‌

Photronics,

Inc.

(a)

135,690‌

3,589,001‌

Sanmina

Corp.

(a)

70,036‌

4,304,413‌

Sapiens

International

Corp.

N.V.

57,966‌

1,561,604‌

Science

Applications

International

Corp.

48,386‌

5,871,157‌

Vishay

Intertechnology,

Inc.

164,154‌

4,620,935‌

31,724,753‌

Utilities

—

3.23%

National

Fuel

Gas

Co.

112,073‌

5,952,197‌

Suburban

Propane

Partners,

L.P.

153,702‌

2,271,716‌

8,223,913‌

Total

Common

Stocks

(Cost $207,524,833)

240,836,791‌

Foundry

Partners

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

July

31,

2023

-

(Unaudited)

MONEY

MARKET

FUNDS

-

6.39%

Shares

Fair

Value

Federated

Hermes

Government

Obligations

Fund,

Institutional

Class,

5.11%

(b)

16,233,839‌

$

16,233,839‌

Total

Money

Market

Funds

(Cost

$16,233,839)

16,233,839‌

Total

Investments

—

101.17%

(Cost

$223,758,672)

257,070,630‌

Liabilities

in

Excess

of

Other

Assets — (1.17)%

(2,968,679‌)

NET

ASSETS

—

100.00%

$

254,101,951‌

(a)

Non-income

producing

security.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

July

31,

2023.

REIT

-

Real

Estate

Investment

Trust