NPORT-P false 0001027596 XXXXXXXX S000047729 C000149956 Advisors Series Trust 811-07959 0001027596 2549003Z0J6URS6I4Y63 615 East Michigan Street Milwaukee 53202 626-914-7363 Poplar Forest Cornerstone Fund S000047729 254900W8D2EMHS710H62 2026-09-30 2025-12-31 N 33884517.720000000000 89807.680000000000 33794710.040000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 USD N N/A N/A FEDERAL HOME LOAN BANK 2549001DPIFGXC1TOL40 3130B72N3 325000.000000000000 PA USD 326182.340000000000 0.9651875682 Long DBT USGSE US N 2 2033-07-29 Fixed 5.250000000000 N N N N N N FedEx Corp 549300E707U7WNPZN687 31428X106 2900.000000000000 NS USD 837694.000000000000 2.4787725624 Long EC CORP US N 1 N N N TREASURY BILL 254900HROIFWPRGM1V77 912797SU2 190000.000000000000 PA USD 184183.100000000000 0.5450057118 Long DBT UST US N 2 2026-11-27 Fixed .000000000000 N N N N N N TREASURY BILL 254900HROIFWPRGM1V77 912797TC1 175000.000000000000 PA USD 169222.110000000000 0.5007354991 Long DBT UST US N 2 2026-12-24 Fixed .000000000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CGV7 180000.000000000000 PA USD 180098.150000000000 0.5329181691 Long DBT UST US N 2 2026-04-15 Fixed 3.750000000000 N N N N N N United Therapeutics Corp 5299005C4HZL4UWROC14 91307C102 2100.000000000000 NS USD 1023225.000000000000 3.0277667682 Long EC CORP US N 1 N N N Sensata Technologies Holding P 529900MS7KFYCY9MS037 N/A 9900.000000000000 NS USD 329571.000000000000 0.9752147588 Long EC CORP US N 1 N N N Alexandria Real Estate Equitie MGCJBT4MKTQBVLNUIS88 015271109 15100.000000000000 NS USD 738994.000000000000 2.1867150188 Long EC CORP US N 1 N N N FEDERAL HOME LOAN BANK 2549001DPIFGXC1TOL40 3130B6UE4 250000.000000000000 PA USD 252370.620000000000 0.7467755152 Long DBT USGSE US N 2 2035-07-16 Fixed 5.050000000000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 3622ACWT3 241799.010000000000 PA USD 243023.910000000000 0.7191181984 Long ABS-MBS USGA US N 2 2053-08-20 Fixed 5.000000000000 N N N N N N KELLANOVA LONOZNOJYIBXOHXWDB86 487836CA4 515000.000000000000 PA USD 519255.460000000000 1.5364992313 Long DBT CORP US N 2 2054-05-16 Fixed 5.750000000000 N N N N N N Las Vegas Sands Corp 549300DUOO1KXOHPM605 517834107 7900.000000000000 NS USD 514211.000000000000 1.5215724573 Long EC CORP US N 1 N N N TREASURY BILL 254900HROIFWPRGM1V77 912797PM3 185000.000000000000 PA USD 184123.070000000000 0.5448280804 Long DBT UST US N 2 2026-02-19 Fixed .000000000000 N N N N N N TREASURY BILL 254900HROIFWPRGM1V77 912797PV3 180000.000000000000 PA USD 178664.870000000000 0.5286770320 Long DBT UST US N 2 2026-03-19 Fixed .000000000000 N N N N N N Vishay Intertechnology Inc 5493009O8F3QQJTCQR75 928298108 31700.000000000000 NS USD 459333.000000000000 1.3591860959 Long EC CORP US N 1 N N N ALLY FINANCIAL INC 549300JBN1OSM8YNAI90 02005NBM1 700000.000000000000 PA USD 695731.550000000000 2.0586995692 Long EP CORP US N 2 N N N Cencora Inc AI8GXW8LG5WK7E9UD086 03073E105 1300.000000000000 NS USD 439075.000000000000 1.2992418029 Long EC CORP US N 1 N N N Equitable Holdings Inc 549300FIBAKMNHPZ4009 29452E101 15000.000000000000 NS USD 714750.000000000000 2.1149759804 Long EC CORP US N 1 N N N DOMINION ENERGY SOUTH 3QRVFYR22IUIEOORTK28 837004CM0 300000.000000000000 PA USD 300022.130000000000 0.8877783820 Long DBT CORP US N 2 2028-08-15 Fixed 4.250000000000 N N N N N N Allstate Corp/The OBT0W1ED8G0NWVOLOJ77 020002101 2000.000000000000 NS USD 416300.000000000000 1.2318495987 Long EC CORP US N 1 N N N BRISTOL-MYERS SQUIBB CO HLYYNH7UQUORYSJQCN42 110122AQ1 725000.000000000000 PA USD 787225.040000000000 2.3294327398 Long DBT CORP US N 2 2038-05-01 Fixed 6.125000000000 N N N N N N Tyson Foods Inc WD6L6041MNRW1JE49D58 902494103 15500.000000000000 NS USD 908610.000000000000 2.6886160554 Long EC CORP US N 1 N N N CACI International Inc SYRPI2D1O9WRTS2WX210 127190304 1000.000000000000 NS USD 532810.000000000000 1.5766076980 Long EC CORP US N 1 N N N DICK'S SPORTING GOODS 529900SSBV5I4LWSK313 253393AF9 500000.000000000000 PA USD 460358.170000000000 1.3622196180 Long DBT CORP US N 2 2032-01-15 Fixed 3.150000000000 N N N N N N FEDERAL FARM CREDIT BANK 254900C5LP6DN9OP9V83 3133ETUV7 350000.000000000000 PA USD 350473.640000000000 1.0370665693 Long DBT USGSE US N 2 2033-08-25 Fixed 5.000000000000 N N N N N N First American Treasury Obliga 549300UU586IAH2B8H03 31846V328 356697.560000000000 NS USD 356697.560000000000 1.0554834161 Long STIV RF US N 1 N N N Intel Corp KNX4USFCNGPY45LOCE31 458140100 12700.000000000000 NS USD 468630.000000000000 1.3866963186 Long EC CORP US N 1 N N N Nucor Corp 549300GGJCRSI2TIEJ46 670346105 4600.000000000000 NS USD 750306.000000000000 2.2201877131 Long EC CORP US N 1 N N N PACIFICORP SGY07Y7FNYBNLM6Z1M11 695114DF2 200000.000000000000 PA USD 203986.200000000000 0.6036039361 Long DBT CORP US N 2 2055-09-15 Variable 7.375000000000 N N N N N N TREASURY BILL 254900HROIFWPRGM1V77 912797QX8 160000.000000000000 PA USD 157529.160000000000 0.4661355574 Long DBT UST US N 2 2026-06-11 Fixed .000000000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 912810TT5 500000.000000000000 PA USD 444707.030000000000 1.3159072218 Long DBT UST US N 2 2053-08-15 Fixed 4.125000000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 9128287D6 954690.000000000000 PA USD 920893.730000000000 2.7249641406 Long DBT UST US N 2 2029-07-15 Fixed .250000000000 N N N N N N ACCENTURE CAPITAL INC 254900FRO0P7RIINYT25 00440KAC7 200000.000000000000 PA USD 200537.450000000000 0.5933989366 Long DBT CORP US N 2 2031-10-04 Fixed 4.250000000000 N N N N N N Ally Financial Inc 549300JBN1OSM8YNAI90 02005N100 13400.000000000000 NS USD 606886.000000000000 1.7958017668 Long EC CORP US N 1 N N N Global Payments Inc 549300NOMHGVQBX6S778 37940X102 8000.000000000000 NS USD 619200.000000000000 1.8322394223 Long EC CORP US N 1 N N N MSILF Treasury Portfolio 549300D1XR6GP7EZ0T47 61747C582 6835.800000000000 NS USD 6835.800000000000 0.0202274261 Long STIV RF US N 1 N N N Murphy Oil Corp QBKYQD0ODE7DC7PDIN91 626717102 16000.000000000000 NS USD 500000.000000000000 1.4795214973 Long EC CORP US N 1 N N N MURPHY OIL CORP QBKYQD0ODE7DC7PDIN91 626717AP7 875000.000000000000 PA USD 874705.000000000000 2.5882897026 Long DBT CORP US N 2 2032-10-01 Fixed 6.000000000000 N N N N N N IDAHO ST HSG & FIN ASSN SF MTG 5493002WM3NYB1LQB744 45130BAN3 200000.000000000000 PA USD 205785.800000000000 0.6089290299 Long DBT MUN US N 2 2032-01-01 Fixed 5.097000000000 N N N N N N IFF BZLRL03D3GPGMOGFO832 459506101 6900.000000000000 NS USD 464991.000000000000 1.3759283611 Long EC CORP US N 1 N N N National Fuel Gas Co 8JB38FFW1Y3C1HM8E841 636180101 10100.000000000000 NS USD 808606.000000000000 2.3926999197 Long EC CORP US N 1 N N N NATIONAL FUEL GAS CO 8JB38FFW1Y3C1HM8E841 636180BN0 800000.000000000000 PA USD 797643.860000000000 2.3602624762 Long DBT CORP US N 2 2027-09-15 Fixed 3.950000000000 N N N N N N AT&T Inc 549300Z40J86GGSTL398 00206R102 30000.000000000000 NS USD 745200.000000000000 2.2050788396 Long EC CORP US N 1 N N N Baxter International Inc J5OIVXX3P24RJRW5CK77 071813109 12000.000000000000 NS USD 229320.000000000000 0.6785677395 Long EC CORP US N 1 N N N DTE ELECTRIC CO 9N0FWODEJVKHC2DYLO03 23338VAQ9 700000.000000000000 PA USD 648992.510000000000 1.9203967403 Long DBT CORP US N 2 2032-03-01 Fixed 3.000000000000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 38385CQG6 308008.590000000000 PA USD 308333.790000000000 0.9123729413 Long ABS-MBS USGA US N 2 2055-01-20 Fixed 5.000000000000 N N N N N N LPL Financial Holdings Inc 549300XROQ4Y8G2L7682 50212V100 1100.000000000000 NS USD 392887.000000000000 1.1625695250 Long EC CORP US N 1 N N N TREASURY BILL 254900HROIFWPRGM1V77 912797SK4 180000.000000000000 PA USD 174949.500000000000 0.5176830924 Long DBT UST US N 2 2026-10-29 Fixed .000000000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CKQ3 500000.000000000000 PA USD 512021.490000000000 1.5150936031 Long DBT UST US N 2 2034-05-15 Fixed 4.375000000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CLD1 600000.000000000000 PA USD 610570.310000000000 1.8067037985 Long DBT UST US N 2 2031-07-31 Fixed 4.125000000000 N N N N N N CVS Health Corp 549300EJG376EN5NQE29 126650100 12000.000000000000 NS USD 952320.000000000000 2.8179558247 Long EC CORP US N 1 N N N Chevron Corp N/A 166764100 3800.000000000000 NS USD 579158.000000000000 1.7137534227 Long EC CORP US N 1 N N N FEDERAL FARM CREDIT BANK 254900C5LP6DN9OP9V83 3133ERTX9 250000.000000000000 PA USD 249331.180000000000 0.7377816815 Long DBT USGSE US N 2 2039-09-19 Fixed 5.490000000000 N N N N N N IBM VGRQXHF3J8VDLUA7XE92 459200101 2100.000000000000 NS USD 622041.000000000000 1.8406460634 Long EC CORP US N 1 N N N Merck & Co Inc 4YV9Y5M8S0BRK1RP0397 58933Y105 9300.000000000000 NS USD 978918.000000000000 2.8966604502 Long EC CORP US N 1 N N N ROCKWELL COLLINS INC XO75O7GICH1NPWLBRL05 774341AK7 300000.000000000000 PA USD 295401.900000000000 0.8741069228 Long DBT CORP US N 2 2027-03-15 Fixed 3.500000000000 N N N N N N Stanley Black & Decker Inc 549300DJ09SMTO561131 854502101 8300.000000000000 NS USD 616524.000000000000 1.8243210232 Long EC CORP US N 1 N N N ALPHABET INC 5493006MHB84DD0ZWV18 02079KAV9 250000.000000000000 PA USD 251382.070000000000 0.7438503532 Long DBT CORP US N 2 2028-11-15 Fixed 3.875000000000 N N N N N N Dollar Tree Inc 549300PMSTQITB1WHR43 256746108 4500.000000000000 NS USD 553545.000000000000 1.6379634545 Long EC CORP US N 1 N N N FEDERAL FARM CREDIT BANK 254900C5LP6DN9OP9V83 3133ETLY1 250000.000000000000 PA USD 251061.540000000000 0.7429018912 Long DBT USGSE US N 2 2033-12-23 Fixed 5.330000000000 N N N N N N Citigroup Inc 6SHGI4ZSSLCXXQSBB395 172967424 8900.000000000000 NS USD 1038541.000000000000 3.0730874707 Long EC CORP US N 1 N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 25746U109 14000.000000000000 NS USD 820260.000000000000 2.4271846068 Long EC CORP US N 1 N N N Humana Inc 529900YLDW34GJAO4J06 444859102 2700.000000000000 NS USD 691551.000000000000 2.0463291420 Long EC CORP US N 1 N N N TREASURY BILL 254900HROIFWPRGM1V77 912797RG4 185000.000000000000 PA USD 181225.450000000000 0.5362538983 Long DBT UST US N 2 2026-08-06 Fixed .000000000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CLB5 600000.000000000000 PA USD 602832.710000000000 1.7838079075 Long DBT UST US N 2 2026-07-31 Fixed 4.375000000000 N N N N N N PERATON ENTERPRISE SOL 549300OOA7HMLU1JZM40 285659AF5 200000.000000000000 PA USD 212166.560000000000 0.6278099731 Long DBT CORP US N 2 2029-10-15 Fixed 7.450000000000 N N N N N N Genuine Parts Co 549300D46DQVEU651W04 372460105 6500.000000000000 NS USD 799240.000000000000 2.3649855230 Long EC CORP US N 1 N N N US TREASURY N/B 254900HROIFWPRGM1V77 912810TQ1 270000.000000000000 PA USD 243885.940000000000 0.7216689822 Long DBT UST US N 2 2043-02-15 Fixed 3.875000000000 N N N N N N 2026-01-27 Advisors Series Trust /s/ Richard Conner Advisors Series Trust Assistant Treasurer XXXX