NPORT-EX 2 midcapvaluefund.htm

Huber Mid Cap Value Fund
  
Schedule of Investments
  
July 31, 2025 (Unaudited)
  
   
COMMON STOCKS - 97.4%
  
Shares
    
Value
 
Asset Management - 3.1%
        
Virtus Investment Partners, Inc.
    
1,909
    
$
369,029
  
                 
Automotive - 0.8%
          
Goodyear Tire & Rubber Co. (a)
    
10,000
      
102,800
  
                 
Banking - 21.4%
          
Citigroup, Inc.
    
6,300
      
590,310
  
First Citizens BancShares, Inc. - Class A
    
350
      
698,166
  
First Horizon Corp.
    
21,417
      
467,105
  
Regions Financial Corp.
    
8,000
      
202,640
  
South State Corp.
    
2,052
      
193,237
  
Truist Financial Corp.
    
10,000
      
437,100
  
             
2,588,558
  
                 
Biotech & Pharmaceuticals - 2.9%
          
GSK PLC - ADR
    
9,300
      
345,495
  
                 
Consumer Services - 4.4%
          
Upbound Group, Inc.
    
25,500
      
526,192
  
                 
Cosmetics/Personal Care - 1.1%
          
Kenvue, Inc.
    
6,200
      
132,928
  
                 
Diversified Financial Services - 1.2%
          
Jefferies Financial Group, Inc.
    
2,500
      
144,150
  
                 
Electric - 1.0%
          
Vistra Corp.
    
600
      
125,124
  
                 
Electric Utilities - 0.6%
          
Entergy Corp.
    
800
      
72,344
  
                 
Food - 1.7%
          
Conagra Brands, Inc.
    
700
      
12,782
  
J M Smucker Co.
    
1,700
      
182,478
  
Lamb Weston Holdings, Inc.
    
266
      
15,181
  
             
210,441
  
                 
Gas & Water Utilities - 0.5%
          
National Fuel Gas Co.
    
700
      
60,753
  
                 
Health Care Facilities & Services - 3.3%
          
Tenet Healthcare Corp. (a)
    
2,500
      
403,200
  
                 
Healthcare-Services - 0.3%
          
Concentra Group Holdings Parent, Inc.
    
1,775
      
35,447
  
                 
Industrial Support Services - 3.6%
          
United Rentals, Inc.
    
500
      
441,470
  
                 
Insurance - 1.4%
          
CNO Financial Group, Inc.
    
4,510
      
166,148
  
                 
Internet - 6.9%
          
F5 Networks, Inc. (a)
    
1,800
      
564,156
  
VeriSign, Inc.
    
1,000
      
268,870
  
             
833,026
  
                 
Internet Media & Services - 1.2%
          
Lyft, Inc. - Class A (a)
    
10,193
      
143,314
  
                 
Oil & Gas Producers - 12.6%
          
Cheniere Energy, Inc.
    
1,200
      
283,056
  
Golar LNG Ltd.
    
27,339
      
1,125,273
  
W&T Offshore, Inc.
    
61,300
      
108,501
  
             
1,516,830
  
                 
Oil & Gas Services & Equipment - 4.8%
          
TETRA Technologies, Inc. (a)
    
142,924
      
585,988
  
                 
Packaging & Containers - 4.2%
          
O-I Glass, Inc. (a)
    
38,600
      
502,186
  
                 
Retail - 2.8%
          
Dollar General Corp.
    
3,200
      
335,680
  
                 
Specialty Finance - 5.1%
          
Enova International, Inc. (a)
    
5,904
      
617,322
  
                 
Technology Services - 6.8%
          
KBR, Inc.
    
15,894
      
742,886
  
Science Applications International Corp.
    
700
      
78,036
  
             
820,922
  
                 
Transportation & Logistics - 3.9%
          
FedEx Corp.
    
2,100
      
469,329
  
                 
Transportation Equipment - 1.8%
          
General Motors Co.
    
4,000
      
213,360
  
TOTAL COMMON STOCKS (Cost $7,093,433)
      
11,762,036
  
                 
REAL ESTATE INVESTMENT TRUSTS - COMMON - 0.5%
  
Shares
    
Value
 
REITS - 0.5%
          
Granite Real Estate Investment Trust
    
1,100
      
58,058
  
TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON (Cost $29,536)
      
58,058
  
                 
SHORT-TERM INVESTMENTS - 2.1%
  
Shares
    
Value
 
Money Market Funds - 2.1%
                
First American Government Obligations Fund - Class X, 4.23% (b)
    
127,225
      
127,225
  
First American Treasury Obligations Fund - Class X, 4.26% (b)
    
127,226
      
127,226
  
TOTAL SHORT-TERM INVESTMENTS (Cost $254,451)
      
254,451
  
                 
TOTAL INVESTMENTS - 100.0% (Cost $7,377,420)
      
12,074,545
  
Other Assets in Excess of Liabilities - 0.0% (c)
      
3,230
  
TOTAL NET ASSETS - 100.0%
          
$
12,077,775
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%

ADR - American Depositary Receipt
REIT - Real Estate Investment Trust

(a)
Non-income producing security.
(b)
The rate shown represents the 7-day annualized effective yield as of July 31, 2025.
(c)
Represents less than 0.05% of net assets.
Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)
 
Huber Mid Cap Value Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2025:
 

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
11,762,036
    
$
–
    
$
–
    
$
11,762,036
  
  Real Estate Investment Trusts - Common
    
58,058
      
–
      
–
      
58,058
  
  Money Market Funds
    
254,451
      
–
      
–
      
254,451
  
Total Investments
  
$
12,074,545
    
$
–
    
$
–
    
$
12,074,545