NPORT-EX 2 large-cap3.htm

Huber Large Cap Value Fund
  
Schedule of Investments
  
January 31, 2026 (Unaudited)
  
   
COMMON STOCKS - 99.9%
  
Shares
    
Value
 
Aerospace & Defense - 2.5%
        
Northrop Grumman Corp.
    
700
    
$
484,582
  
                 
Banking - 17.0%
          
Bank of America Corp.
    
5,300
      
281,960
  
Citigroup, Inc.
    
12,800
      
1,481,088
  
First Citizens BancShares, Inc. - Class A
    
150
      
310,435
  
First Horizon Corp.
    
25,292
      
619,401
  
JPMorgan Chase & Co.
    
1,100
      
336,479
  
Truist Financial Corp.
    
6,000
      
308,520
  
             
3,337,883
  
                 
Beverages - 0.4%
          
Anheuser-Busch InBev SA/NV - ADR
    
1,000
      
71,680
  
                 
Biotech & Pharmaceuticals - 14.4%
          
Eli Lilly & Co.
    
2,000
      
2,074,300
  
GSK PLC - ADR
    
2,400
      
123,840
  
Merck & Co., Inc.
    
1,100
      
121,297
  
Pfizer, Inc.
    
19,600
      
518,224
  
             
2,837,661
  
                 
Consumer Services - 3.8%
          
Upbound Group, Inc.
    
39,859
      
753,335
  
                 
Electric - 1.0%
          
Vistra Corp.
    
1,300
      
205,855
  
                 
Electric Utilities - 2.2%
          
American Electric Power Co., Inc.
    
300
      
35,933
  
Constellation Energy Corp.
    
533
      
149,602
  
Entergy Corp.
    
1,800
      
172,602
  
NextEra Energy, Inc.
    
800
      
70,320
  
             
428,457
  
                 
Electrical Equipment - 0.3%
          
TE Connectivity PLC
    
300
      
66,834
  
                 
Entertainment Content - 0.6%
          
Walt Disney Co.
    
1,000
      
112,800
  
                 
Food - 0.5%
          
Lamb Weston Holdings, Inc.
    
500
      
22,965
  
Tyson Foods, Inc. - Class A
    
1,100
      
71,863
  
             
94,828
  
                 
Gas & Water Utilities - 0.4%
          
National Fuel Gas Co.
    
1,000
      
83,750
  
                 
Health Care Facilities & Services - 1.9%
          
Tenet Healthcare Corp. (a)
    
2,000
      
378,560
  
                 
Industrial Support Services - 0.8%
          
United Rentals, Inc.
    
200
      
156,412
  
                 
Institutional Financial Services - 1.4%
          
Goldman Sachs Group, Inc.
    
300
      
280,623
  
                 
Insurance - 1.7%
          
CNO Financial Group, Inc.
    
8,073
      
339,469
  
                 
Internet - 0.5%
          
VeriSign, Inc.
    
400
      
97,692
  
                 
Internet Media & Services - 0.8%
          
Lyft, Inc. - Class A (a)
    
9,694
      
163,538
  
                 
Oil & Gas Producers - 13.6%
          
BP PLC - ADR
    
4,700
      
178,036
  
Cheniere Energy, Inc.
    
400
      
84,608
  
Chord Energy Corp.    
3,000
       300,720
 
Expand Energy Corp.
    
1,000
      
112,410
  
Golar LNG Ltd.
    
31,803
      
1,290,884
  
Shell PLC - ADR
    
9,300
      
716,379
  
             
2,683,037
  
                 
Retail - 1.8%
          
Dollar General Corp.
    
2,500
      
358,575
  
                 
Retail - Consumer Staples - 2.7%
          
Walmart, Inc.
    
4,500
      
536,130
  
                 
Retail - Discretionary - 1.1%
          
Home Depot, Inc.
    
600
      
224,754
  
                 
Software - 11.8%
          
Microsoft Corp.
    
2,600
      
1,118,754
  
Oracle Corp.
    
4,800
      
789,984
  
Weave Communications, Inc. (a)
    
62,832
      
408,408
  
             
2,317,146
  
                 
Specialty Finance - 2.1%
          
Enova International, Inc. (a)
    
2,510
      
414,577
  
                 
Technology Services - 6.8%
          
KBR, Inc.
    
21,130
      
904,575
  
Mastercard, Inc. - Class A
    
550
      
296,335
  
Visa, Inc. - Class A
    
400
      
128,732
  
             
1,329,642
  
                 
Telecommunications - 2.3%
          
AT&T, Inc.
    
16,900
      
442,949
  
                 
Tobacco & Cannabis - 0.5%
          
Philip Morris International, Inc.
    
600
      
107,664
  
                 
Transportation & Logistics - 4.3%
          
FedEx Corp.
    
2,600
      
837,850
  
                 
Transportation Equipment - 2.7%
          
General Motors Co.
    
6,300
      
529,200
  
TOTAL COMMON STOCKS (Cost $9,219,511)
      
19,675,483
  
                 
SHORT-TERM INVESTMENTS
  
MONEY MARKET FUNDS - 0.3%
  
Shares
    
Value
 
First American Government Obligations Fund - Class X, 3.61% (b)
    
26,348
      
26,348
  
First American Treasury Obligations Fund - Class X, 3.59% (b)
    
26,347
      
26,347
  
TOTAL MONEY MARKET FUNDS (Cost $52,695)
      
52,695
  
                 
TOTAL INVESTMENTS - 100.2% (Cost $9,272,206)
      
19,728,178
  
Liabilities in Excess of Other Assets - (0.2)%
      
(32,825
)
TOTAL NET ASSETS - 100.0%
          
$
19,695,353
  
                 
Percentages are stated as a percent of net assets.
          

ADR - American Depositary Receipt

(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 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
  
$
19,675,483
    
$
–
    
$
–
    
$
19,675,483
  
  Money Market Funds
    
52,695
      
–
      
–
      
52,695
  
Total Investments
  
$
19,728,178
    
$
–
    
$
–
    
$
19,728,178