VALUED ADVISERS TR

Ticker: EQTY CUSIP: 92046L353 Class: MF Closed and MF Open

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (4)

Basepoint Wealth LLC

Value ($000) $69 Shares 2,542

MML INVESTORS SERVICES, LLC

Value ($000) $2,992 Shares 110,857

Darwin Wealth Management, LLC

Value ($000) $24 Shares 901

ENVESTNET ASSET MANAGEMENT INC

Value ($000) $203 Shares 7,520

Institution	Shares	Value ($000)
Basepoint Wealth LLC	2,542	$69
MML INVESTORS SERVICES, LLC	110,857	$2,992
Darwin Wealth Management, LLC	901	$24
ENVESTNET ASSET MANAGEMENT INC	7,520	$203

Increased Positions (3)

Focus Partners Wealth

Value ($000) $1,215,840 (+51954.6%) Shares 45,042,212 (+49402.4%)

GTS SECURITIES LLC

Value ($000) $1,338 (+16.2%) Shares 49,585 (+10.5%)

ROYAL BANK OF CANADA

Value ($000) $5,826 (+36.1%) Shares 215,851 (+29.4%)

Institution	Prev Shares	Curr Shares	Change
Focus Partners Wealth	90,990	45,042,212	+44,951,222 (+49402.4%)
GTS SECURITIES LLC	44,858	49,585	+4,727 (+10.5%)
ROYAL BANK OF CANADA	166,833	215,851	+49,018 (+29.4%)

Decreased Positions (3)

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO

Value ($000) $217 (-80.2%) Shares 8,025 (-81.2%)

Value ($000) $18 (-97.3%) Shares 675 (-97.5%)

NORTHERN TRUST CORP

Value ($000) $246 (-12.5%) Shares 9,108 (-16.8%)

Institution	Prev Shares	Curr Shares	Change
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	42,636	8,025	-34,611 (-81.2%)
UBS Group AG	26,615	675	-25,940 (-97.5%)
NORTHERN TRUST CORP	10,950	9,108	-1,842 (-16.8%)

Exited Positions (2)

Kovitz Investment Group Partners, LLC

Value ($000) $1,173,649 Shares 45,721,097

StoneX Group Inc.

Value ($000) $354 Shares 13,782

Institution	Prev Shares	Prev Value ($000)
Kovitz Investment Group Partners, LLC	45,721,097	$1,173,649
StoneX Group Inc.	13,782	$354