Valued Advisers Trust NPORT-P Foundry Partners Small Cap Value Fund (Jul 2024 report)

Foundry

Partners

Small

Cap

Value

Fund

Schedule

of

Investments

July

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

96.74%

Shares

Fair

Value

Consumer

Discretionary

—

7.10%

American

Woodmark

Corp.

(a)

24,516‌

$

2,504,309‌

Guess?,

Inc.

130,707‌

3,143,503‌

Hovnanian

Enterprises,

Inc.

(a)

21,541‌

4,521,241‌

Hudson

Technologies,

Inc.

(a)

146,977‌

1,258,123‌

Interface,

Inc.

134,732‌

2,328,169‌

Masterbrand,

Inc.

(a)

228,422‌

4,123,017‌

Phinia,

Inc.

92,898‌

4,152,541‌

22,030,903‌

Consumer

Staples

—

1.66%

Quanex

Building

Products

Corp.

49,526‌

1,654,168‌

Vector

Group

Ltd.

272,536‌

3,483,010‌

5,137,178‌

Energy

—

14.43%

Berry

Corp.

567,653‌

3,894,100‌

Chord

Energy

Corp.

26,854‌

4,609,758‌

Crescent

Energy

Co.

327,913‌

4,010,376‌

DNOW,

Inc.

(a)

274,199‌

4,211,696‌

EnerSys

35,981‌

3,955,391‌

Liberty

Energy,

Inc.,

Class

A

149,060‌

3,599,799‌

MRC

Global,

Inc.

(a)

214,191‌

3,101,486‌

Murphy

Oil

Corp.

100,242‌

4,148,014‌

Select

Energy

Services,

Inc.,

Class

A

300,763‌

3,555,019‌

SM

Energy

Co.

79,128‌

3,655,714‌

VAALCO

Energy,

Inc.

285,996‌

2,047,731‌

Veren

Inc.

(a)

513,966‌

4,008,935‌

44,798,019‌

Financials

—

8.98%

Cathay

General

Bancorp

92,226‌

4,087,457‌

Enova

International,

Inc.

(a)

62,219‌

5,380,077‌

Enterprise

Financial

Services

Corp.

44,658‌

2,361,068‌

Fidelis

Insurance

Holdings

Ltd.

132,081‌

2,349,721‌

International

Bancshares

Corp.

58,741‌

3,961,493‌

Merchants

Bancorp

45,313‌

2,039,085‌

OFG

Bancorp

48,704‌

2,212,136‌

Pathward

Financial

Group,

Inc.

51,682‌

3,490,602‌

StoneX

Group,

Inc.

(a)

23,445‌

1,953,906‌

27,835,545‌

Health

Care

—

9.40%

AdaptHealth

Corp.

(a)

294,490‌

3,345,406‌

Evolent

Health,

Inc.,

Class

A

(a)

195,643‌

4,562,395‌

Organon

&

Co.

184,332‌

4,029,498‌

Owens

&

Minor,

Inc.

(a)

139,742‌

2,294,564‌

Pacira

Pharmaceuticals,

Inc.

(a)

199,051‌

4,110,402‌

Perrigo

Co.

PLC

143,185‌

4,047,840‌

Select

Medical

Holdings

Corp.

119,314‌

4,743,925‌

SIGA

Technologies,

Inc.

202,031‌

2,016,269‌

29,150,299‌

Foundry

Partners

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

July

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

96.74%

-

continued

Shares

Fair

Value

Industrials

—

28.35%

ABM

Industries,

Inc.

72,789‌

$

4,044,157‌

Ardmore

Shipping

Corp.

(a)

187,069‌

4,055,656‌

Belden,

Inc.

41,525‌

3,848,952‌

Copa

Holdings,

S.A.,

Class

A

32,545‌

2,888,369‌

Costamare,

Inc.

153,945‌

2,281,465‌

Covenant

Logistics

Group,

Inc.

59,557‌

3,332,214‌

Danaos

Corp.

16,278‌

1,407,884‌

Euronav

NV

235,618‌

4,328,303‌

Gates

Industrial

Corp.

PLC

(a)

226,528‌

4,211,156‌

Global

Ship

Lease,

Inc.

157,871‌

4,170,952‌

H&E

Equipment

Services,

Inc.

57,450‌

3,004,635‌

Healthcare

Services

Group,

Inc.

(a)

194,489‌

2,223,009‌

Herc

Holdings,

Inc.

26,581‌

4,142,383‌

Hyster-Yale

Materials

Handling,

Inc.,

Class

A

45,295‌

3,702,413‌

ManpowerGroup,

Inc.

55,349‌

4,238,627‌

Oshkosh

Corp.

42,709‌

4,640,333‌

Primoris

Services

Corp.

61,878‌

3,494,251‌

Resideo

Technologies,

Inc.

(a)

199,874‌

4,541,137‌

REV

Group,

Inc.

146,405‌

4,272,098‌

SMART

Global

Holdings,

Inc.

(a)

139,303‌

3,259,690‌

Teekay

Tankers

Ltd.,

Class

A

46,518‌

3,044,138‌

Terex

Corp.

60,204‌

3,808,505‌

Timken

Co.

(The)

54,513‌

4,739,905‌

Valmont

Industries,

Inc.

14,289‌

4,263,266‌

87,943,498‌

Materials

—

5.77%

Alamos

Gold,

Inc.,

Class

A

266,951‌

4,546,176‌

Apogee

Enterprises,

Inc.

29,747‌

2,041,834‌

Ecovyst,

Inc.

(a)

40,698‌

388,259‌

MDU

Resources

Group,

Inc.

148,213‌

3,992,858‌

Minerals

Technologies,

Inc.

11,895‌

932,330‌

Orion

Engineered

Carbons

SA

91,566‌

2,254,355‌

Pan

American

Silver

Corp.

162,884‌

3,743,074‌

17,898,886‌

Real

Estate

—

4.72%

Apple

Hospitality

REIT,

Inc.

229,004‌

3,386,969‌

Cousins

Properties,

Inc.

160,642‌

4,419,262‌

NexPoint

Residential

Trust,

Inc.

43,631‌

1,906,238‌

Park

Hotels

&

Resorts,

Inc.

263,732‌

3,971,804‌

Whitestone

REIT

68,265‌

942,057‌

14,626,330‌

Technology

—

11.30%

Clear

Secure,

Inc.

189,755‌

4,051,269‌

Concentrix

Corp.

59,671‌

4,206,806‌

CSG

Systems

International,

Inc.

45,154‌

2,115,013‌

Daktronics,

Inc.

(a)

128,412‌

1,923,612‌

Immersion

Corp.

171,919‌

2,195,406‌

Knowles

Corp.

(a)

122,939‌

2,246,095‌

Foundry

Partners

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

July

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

96.74%

-

continued

Shares

Fair

Value

Technology

—

11.30%

-

continued

Pagseguro

Digital

Ltd.,

Class

A

(a)

289,091‌

$

3,694,583‌

Paysafe

Ltd.

(a)

101,427‌

2,128,953‌

Pegasystems,

Inc.

63,734‌

4,443,534‌

RingCentral,

Inc.,

Class

A

(a)

121,562‌

4,260,748‌

Western

Union

Co.

(The)

316,792‌

3,766,657‌

35,032,676‌

Utilities

—

5.03%

Algonquin

Power

&

Utilities

Corp.

647,321‌

4,039,283‌

Avista

Corp.

105,551‌

4,135,488‌

Northwest

Natural

Holding

Co.

41,808‌

1,671,484‌

Suburban

Propane

Partners,

L.P.

92,265‌

1,694,908‌

UGI

Corp.

163,483‌

4,051,109‌

15,592,272‌

Total

Common

Stocks

(Cost $278,891,200)

300,045,606‌

MONEY

MARKET

FUNDS

-

3.46%

Federated

Hermes

Government

Obligations

Fund,

Institutional

Class,

5.19%

(b)

10,726,629‌

10,726,629‌

Total

Money

Market

Funds

(Cost

$10,726,629)

10,726,629‌

Total

Investments

—

100.20%

(Cost

$289,617,829)

310,772,235‌

Liabilities

in

Excess

of

Other

Assets — (0.20)%

(634,986‌)

NET

ASSETS

—

100.00%

$

310,137,249‌

(a)

Non-income

producing

security.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

July

31,

2024.

REIT

-

Real

Estate

Investment

Trust