NPORT-EX 2 select-largecap.htm

Huber Select Large Cap Value Fund
  
Schedule of Investments
  
January 31, 2026 (Unaudited)
  
   
COMMON STOCKS - 97.2%
  
Shares
    
Value
 
Aerospace & Defense - 1.7%
        
Northrop Grumman Corp.
    
11,593
    
$
8,025,370
  
                 
Banking - 20.1%
          
Bank of America Corp.
    
412,546
      
21,947,447
  
Citigroup, Inc.
    
249,268
      
28,842,800
  
First Citizens BancShares, Inc. - Class A
    
4,831
      
9,998,093
  
First Horizon Corp.
    
487,126
      
11,929,716
  
JPMorgan Chase & Co.
    
18,233
      
5,577,292
  
Regions Financial Corp.
    
305,500
      
8,706,750
  
Truist Financial Corp.
    
194,700
      
10,011,474
  
             
97,013,572
  
                 
Biotech & Pharmaceuticals - 10.0%
          
Eli Lilly & Co.
    
20,437
      
21,196,235
  
Merck & Co., Inc.
    
24,193
      
2,667,762
  
Pfizer, Inc.
    
935,530
      
24,735,413
  
             
48,599,410
  
                 
Consumer Services - 4.9%
          
Upbound Group, Inc.
    
1,262,842
      
23,867,714
  
                 
Cosmetics/Personal Care - 1.2%
          
Kenvue, Inc.
    
340,894
      
5,931,556
  
                 
Electric - 1.3%
          
Vistra Corp.
    
41,000
      
6,492,350
  
                 
Electric Utilities - 1.0%
          
Constellation Energy Corp.
    
17,977
      
5,045,784
  
                 
Electrical Equipment - 0.2%
          
TE Connectivity PLC
    
3,357
      
747,872
  
                 
Gas & Water Utilities - 0.8%
          
National Fuel Gas Co.
    
48,900
      
4,095,375
  
                 
Health Care Facilities & Services - 2.0%
          
Tenet Healthcare Corp. (a)
    
50,800
      
9,615,424
  
                 
Healthcare-Services - 0.3%
          
ICON PLC (a)
    
6,760
      
1,218,490
  
                 
Home Construction - 0.1%
          
Lennar Corp. - Class B
    
5,560
      
563,006
  
                 
Industrial Support Services - 1.0%
          
United Rentals, Inc.
    
6,400
      
5,005,184
  
                 
Insurance - 1.0%
          
CNO Financial Group, Inc.
    
110,821
      
4,660,023
  
                 
Internet Media & Services - 1.7%
          
Lyft, Inc. - Class A (a)
    
490,200
      
8,269,674
  
                 
Oil & Gas Producers - 9.0%
          
BP PLC - ADR
    
286,100
      
10,837,468
  
Cheniere Energy, Inc.
    
17,300
      
3,659,296
  
Golar LNG Ltd.
    
651,152
      
26,430,260
  
Shell PLC - ADR
    
31,300
      
2,411,039
  
             
43,338,063
  
                 
Retail - 5.0%
          
Dollar General Corp.
    
169,480
      
24,308,516
  
                 
Retail - Discretionary - 0.4%
          
Home Depot, Inc.
    
5,398
      
2,022,037
  
                 
Software - 9.1%
          
Microsoft Corp.
    
38,928
      
16,750,329
  
Oracle Corp.
    
132,800
      
21,856,224
  
Weave Communications, Inc. (a)
    
841,038
      
5,466,747
  
             
44,073,300
  
                 
Specialty Finance - 2.1%
          
Enova International, Inc. (a)
    
60,709
      
10,027,305
  
                 
Technology Services - 7.4%
          
KBR, Inc.
    
608,315
      
26,041,965
  
Mastercard, Inc. - Class A
    
17,859
      
9,622,251
  
             
35,664,216
  
                 
Telecommunications - 4.6%
          
AT&T, Inc.
    
842,180
      
22,073,538
  
                 
Tobacco & Cannabis - 5.4%
          
Philip Morris International, Inc.
    
145,815
      
26,165,043
  
                 
Transportation & Logistics - 5.2%
          
FedEx Corp.
    
78,200
      
25,199,950
  
                 
Transportation Equipment - 1.7%
          
General Motors Co.
    
95,300
      
8,005,200
  
TOTAL COMMON STOCKS (Cost $331,215,180)
      
470,027,972
  
                 
SHORT-TERM INVESTMENTS
  
MONEY MARKET FUNDS - 2.7%
  
Shares
    
Value
 
First American Government Obligations Fund - Class X, 3.61% (b)
    
6,432,258
      
6,432,258
  
First American Treasury Obligations Fund - Class X, 3.59% (b)
    
6,432,258
      
6,432,258
  
TOTAL MONEY MARKET FUNDS (Cost $12,864,516)
      
12,864,516
  
                 
TOTAL INVESTMENTS - 99.9% (Cost $344,079,696)
      
482,892,488
  
Other Assets in Excess of Liabilities - 0.1%
      
646,954
  
TOTAL NET ASSETS - 100.0%
          
$
483,539,442
  
                 
Percentages are stated as a percent of net assets.
          

ADR - American Depositary Receipt
PLC – Public Limited Company

(a)
Non-income producing security.
(b)
The rate shown represents the 7-day annualized yield as of January 31, 2026.
Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
 
Huber Select Large 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 January 31, 2026:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
470,027,972
    
$
–
    
$
–
    
$
470,027,972
  
  Money Market Funds
    
12,864,516
      
–
      
–
      
12,864,516
  
Total Investments
  
$
482,892,488
    
$
–
    
$
–
    
$
482,892,488