# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-020580
**Filing Date:** 2026-5
**Character Count:** 23624
**Document Hash:** 540329092e49ff54ea92f7fb4757bf6b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020580.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020580

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AdvisorShares Trust
- **CENTRAL INDEX KEY:** 0001408970

**ORGANIZATION NAME:**
- **EIN:** 260636087
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22110
- **FILM NUMBER:** 261007826

**BUSINESS ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 150
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** (877) 843-3831

**MAIL ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 150
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

## Series and Classes Contracts Data

### AdvisorShares Dorsey Wright ADR ETF (Series ID: S000026954)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000081186 | AdvisorShares Dorsey Wright ADR ETF | AADR            |

## Nport-Ex

**ADVISORSHARES DORSEY WRIGHT ADR ETF**

**Schedule of Investments**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS – 98.5%** |  |  |
| **Aerospace/Defense – 10.3%** |  |  |
| Elbit Systems Ltd. (Israel) | 1603 | $1361091 |
| Embraer SA (Brazil)<sup>(a)</sup> | 38411 | 2279309 |
| Rolls-Royce Holdings PLC (United Kingdom)<sup>(a)(b)</sup> | 64349 | 992262 |
| Total Aerospace/Defense |  | 4632662 |
| **Agriculture – 2.3%** |  |  |
| British American Tobacco PLC (United Kingdom)<sup>(a)</sup> | 17778 | 1039480 |
| **Airlines – 4.1%** |  |  |
| Controladora Vuela Cia de Aviacion SAB de CV (Mexico)<sup>(a)(c)</sup> | 118837 | 860380 |
| Ryanair Holdings PLC (Italy)<sup>(a)</sup> | 17475 | 1010055 |
| Total Airlines |  | 1870435 |
| **Auto Parts & Equipment – 3.4%** |  |  |
| China Yuchai International Ltd. (China) | 39967 | 1538730 |
| **Banks – 14.2%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA (Spain)<sup>(a)</sup> | 94413 | 2044986 |
| Barclays PLC (United Kingdom)<sup>(a)</sup> | 70166 | 1484712 |
| Mitsubishi UFJ Financial Group, Inc. (Japan)<sup>(a)(b)</sup> | 101829 | 1728038 |
| Sumitomo Mitsui Financial Group, Inc. (Japan)<sup>(a)(b)</sup> | 58740 | 1160115 |
| Total Banks |  | 6417851 |
| **Biotechnology – 3.7%** |  |  |
| Argenx SE (Netherlands)<sup>(a)(c)</sup> | 1130 | 825183 |
| Genmab A/S (Denmark)<sup>(a)(c)</sup> | 30853 | 827786 |
| Total Biotechnology |  | 1652969 |
| **Building Materials – 2.8%** |  |  |
| Cemex SAB de CV (Mexico)<sup>(a)</sup> | 109269 | 1250037 |
| **Diversified Financial Services – 4.1%** |  |  |
| AerCap Holdings NV (Ireland) | 6788 | 931178 |
| Futu Holdings Ltd. (Hong Kong)<sup>(a)(c)</sup> | 6910 | 945011 |
| Total Diversified Financial Services |  | 1876189 |
| **Electric – 5.3%** |  |  |
| E.ON SE (Germany)<sup>(a)</sup> | 57182 | 1266009 |
| Korea Electric Power Corp. (South Korea)<sup>(a)</sup> | 79390 | 1131308 |
| Total Electric |  | 2397317 |
| **Internet – 4.6%** |  |  |
| Alibaba Group Holding Ltd. (China)<sup>(a)(b)</sup> | 6012 | 754265 |
| Vnet Group, Inc. (China)<sup>(a)(c)</sup> | 155704 | 1306357 |
| Total Internet |  | 2060622 |
| **Mining – 15.2%** |  |  |
| Cia de Minas Buenaventura SAA (Peru)<sup>(a)</sup> | 54833 | 1976182 |
| Gold Fields Ltd. (South Africa)<sup>(a)</sup> | 44638 | 2026565 |
| Harmony Gold Mining Co. Ltd. (South Africa)<sup>(a)</sup> | 94319 | 1449683 |
| Sibanye Stillwater Ltd. (South Africa)<sup>(a)</sup> | 114951 | 1416196 |
| Total Mining |  | 6868626 |
| **Miscellaneous Manufacturing – 2.1%** |  |  |
| Siemens AG (Germany)<sup>(a)</sup> | 7771 | 947129 |
| **Pharmaceuticals – 15.9%** |  |  |
| Abivax SA (France)<sup>(a)(c)</sup> | 11802 | 1314153 |
| Ascendis Pharma A/S (Denmark)<sup>(a)(c)</sup> | 5750 | 1315197 |
| DBV Technologies SA (France)<sup>(a)(c)</sup> | 50340 | 1051603 |
| GSK PLC<sup>(a)</sup> | 22100 | 1219699 |
| Novartis AG<sup>(a)(b)</sup> | 7810 | 1192977 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS (continued)** |  |  |
| **Pharmaceuticals (continued)** |  |  |
| Teva Pharmaceutical Industries Ltd. (Israel)<sup>(a)(c)</sup> | 36431 | $1097302 |
| Total Pharmaceuticals |  | 7190931 |
| **Semiconductors – 2.9%** |  |  |
| Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)<sup>(a)</sup> | 3845 | 1299418 |
| **Telecommunications – 7.6%** |  |  |
| Singapore Telecommunications Ltd. (Singapore)<sup>(a)</sup> | 33818 | 1308418 |
| Telefonica Brasil SA (Brazil)<sup>(a)</sup> | 83133 | 1322646 |
| VEON Ltd. (Pakistan)<sup>(a)(c)</sup> | 16962 | 785341 |
| Total Telecommunications |  | 3416405 |
| **Total Common Stocks<br> (Cost $37,531,162)** |  | 44458801 |
| **MONEY MARKET FUNDS – 8.3%** |  |  |
| Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 3.29%<sup>(d)(e)</sup> | 3090829 | 3090829 |
| Invesco Government & Agency Portfolio - Private Investment Class, 3.28%<sup>(d)</sup> | 645243 | 645243 |
| **Total Money Market Funds<br> (Cost $3,736,073)** |  | 3736072 |
| Total Investments – 106.8%<br> (Cost $41,267,235) |  | 48194873 |
| Liabilities in Excess of Other Assets – (6.8%) |  | (3071702) |
| **Net Assets – 100.0%** |  | $**45123171** |

---

PLC - Public Limited Company

(a) American Depositary Receipt.

(b) All
 or a portion of security is on loan. The aggregate market value of the securities on loan is $7,653,609; the aggregate market value
 of the collateral held by the fund is $4,445,155. The aggregate market value of the collateral includes non-cash U.S. Treasury
 securities collateral having a value of $1,354,326.

(c) Non-income producing security.

(d) Rate shown reflects the 7-day yield as of March 31, 2026.

(e) Collateral received from brokers for securities lending was invested in these short-term investments.

**ADVISORSHARES DORSEY WRIGHT ADR ETF**

**Schedule of Investments (continued)**

March 31, 2026 (Unaudited)

For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.

**Fair Value Measurements**

The following is a summary of the inputs used, as of March 31, 2026, in valuing the Fund's assets and liabilities carried at fair value. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks | $44458801 | $– | $– | $44458801 |
| Money Market Funds | 3736072 | – | – | 3736072 |
| Total | $48194873 | $– | $– | $48194873 |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Aerospace/Defense | 10.3% |
| Agriculture | 2.3 |
| Airlines | 4.1 |
| Auto Parts & Equipment | 3.4 |
| Banks | 14.2 |
| Biotechnology | 3.7 |
| Building Materials | 2.8 |
| Diversified Financial Services | 4.1 |
| Electric | 5.3 |
| Internet | 4.6 |
| Mining | 15.2 |
| Miscellaneous Manufacturing | 2.1 |
| Pharmaceuticals | 15.9 |
| Semiconductors | 2.9 |
| Telecommunications | 7.6 |
| Money Market Funds | 8.3 |
| Total Investments | 106.8 |
| Liabilities in Excess of Other Assets | (6.8) |
| Net Assets | 100.0% |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** AdvisorShares Trust

- **b. Investment Company Act file number:** 811-22110

- **c. CIK number of Registrant:** 0001408970

- **d. LEI of Registrant:** 549300K5KGUMX2I7WM68

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 4800 Montgomery Lane

  - **City:** Bethesda

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20814

  - **Telephone number:** 877-843-3831

**Item A.2. Information about the Series.**

- **a. Name of Series:** AdvisorShares Dorsey Wright ADR ETF

- **b. EDGAR series identifier (if any):** S000026954

- **c. LEI of Series:** 549300J3T52TB0ZR4T50

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $48304666.11

**Total Liabilities:** $3181494.85

**Net Assets:** $45123171.26

**Cash Not Reported:** $366.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000081186 | 7.51%                | 2.42%                | -13.17%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-130267.42              | $3681799.62                                |
| Month 2  | $273605.33               | $947541.49                                 |
| Month 3  | $800534.11               | $-8293001.26                               |

### Schedule of Portfolio Investments

| Name                                         | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INVESCO GOVT AGENCY PRIVA                    | INVESCO GOVT AGENCY PRIVA                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    645243 | NS      | $645243.08    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Compania de Minas Buenaventura S.A.A.        | Compania de Minas Buenaventura S.A.A. SPONSORED ADR        | CUSIP: 204448104<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | EC               | CORP              | PE        |     54833 | NS      | $1976181.32   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryanair Holdings PLC                         | Ryanair Holdings PLC SPONSORED ADR                         | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |     17475 | NS      | $1010055.00   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Telecommunications Ltd.            | Singapore Telecommunications Ltd. SPON ADR NEW06           | CUSIP: 82929R304<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |     33818 | NS      | $1308418.42   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                    | Alibaba Group Holding Ltd. SPONSORED ADS                   | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      6012 | NS      | $754265.52    | 1.67%             |  |  |  | No            |                  1 | On Loan: —       |
| DREY INST PREF GOV MM-M                      | DREY INST PREF GOV MM-M                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   3090829 | NS      | $3090829.48   | 6.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      3845 | NS      | $1299417.75   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA YUCHAI INTERNATIONAL LTD               | China Yuchai International Ltd. COM                        | CUSIP: 000000000<br>LEI: 529900DHISUGAY2ARU76 | Long             | EC               | CORP              | BM        |     39967 | NS      | $1538729.50   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DBV Technologies S.A.                        | DBV Technologies S.A. SPONSORED ADS                        | CUSIP: 23306J309<br>LEI: 969500PVBQFWQKVDMD80 | Long             | EC               | CORP              | FR        |     50340 | NS      | $1051602.60   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| VNET GROUP INC                               | VNET Group Inc. SPONSORED ADS A                            | CUSIP: 90138A103<br>LEI: 529900672GYJQ3T38I58 | Long             | EC               | CORP              | KY        |    155704 | NS      | $1306356.56   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                   | Siemens AG SPONSORED ADR                                   | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      7771 | NS      | $947129.48    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Electric Power Corp.                   | Korea Electric Power Corp. SPONSORED ADR                   | CUSIP: 500631106<br>LEI: 988400QG33WS7JEIV602 | Long             | EC               | CORP              | KR        |     79390 | NS      | $1131307.50   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Sibanye-Stillwater Limited                   | Sibanye-Stillwater Limited SPONSORED ADR                   | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |    114951 | NS      | $1416196.32   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                          | Ascendis Pharma A/S SPONSORED ADR                          | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      5750 | NS      | $1315197.50   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                 | Barclays PLC ADR                                           | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     70166 | NS      | $1484712.56   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                    | Argenx SE SPONSORED ADR                                    | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      1130 | NS      | $825182.50    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                              | Gold Fields Ltd SPONSORED ADR                              | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     44638 | NS      | $2026565.20   | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer S.A.                                 | Embraer S.A. SPONSORED ADS                                 | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |     38411 | NS      | $2279308.74   | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Abivax SA                                    | Abivax SA SPONSORED ADS                                    | CUSIP: 00370M103<br>LEI: 969500D8TMNB184OJU95 | Long             | EC               | CORP              | FR        |     11802 | NS      | $1314152.70   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC                     | Rolls-Royce Holdings PLC SPONSORED ADR                     | CUSIP: 775781206<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |     64349 | NS      | $992261.58    | 2.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Harmony Gold Mining Co Ltd                   | Harmony Gold Mining Co Ltd SPONSORED ADR                   | CUSIP: 413216300<br>LEI: 378900986D05F0C29811 | Long             | EC               | CORP              | ZA        |     94319 | NS      | $1449683.03   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA           | Banco Bilbao Vizcaya Argentaria SA SPONSORED ADR           | CUSIP: 05946K101<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     94413 | NS      | $2044985.58   | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Controladora Vuela Cia De Aviacion           | Controladora Vuela Cia De Aviacion SPON ADR RP 10          | CUSIP: 21240E105<br>LEI: 549300G8NLCMP9Z44X52 | Long             | EC               | CORP              | MX        |    118837 | NS      | $860379.88    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                      | E.ON SE SPONSORED ADR                                      | CUSIP: 268780103<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |     57182 | NS      | $1266009.48   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                      | GSK plc SPONSORED ADR                                      | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     22100 | NS      | $1219699.00   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                  | Novartis AG SPONSORED ADR                                  | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      7810 | NS      | $1192977.50   | 2.64%             |  |  |  | No            |                  1 | On Loan: —       |
| Genmab As                                    | Genmab As SPONSORED ADS                                    | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |     30853 | NS      | $827785.99    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica Brasil S.A                        | Telefonica Brasil S.A SPONSORED ADS                        | CUSIP: 87936R205<br>LEI: 529900MTGG2HSDBIWG79 | Long             | EC               | CORP              | BR        |     83133 | NS      | $1322646.03   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries Ltd.          | Teva Pharmaceutical Industries Ltd. SPONSORED ADS          | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |     36431 | NS      | $1097301.72   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                 | British American Tobacco PLC SPONSORED ADR                 | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |     17778 | NS      | $1039479.66   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Elbit Systems Ltd                            | Elbit Systems Ltd ORD                                      | CUSIP: 000000000<br>LEI: 529900Q9CB1REUMZSS32 | Long             | EC               | CORP              | IL        |      1603 | NS      | $1361091.27   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FUTU HOLDINGS LTD                            | Futu Holdings Ltd. SPON ADS CL A                           | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |      6910 | NS      | $945011.60    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX S.A.B. de C.V.                         | CEMEX S.A.B. de C.V. SPON ADR NEW                          | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |    109269 | NS      | $1250037.36   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc.         | Sumitomo Mitsui Financial Group Inc. SPONSORED ADR         | CUSIP: 86562M209<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |     58740 | NS      | $1160115.00   | 2.57%             |  |  |  | No            |                  1 | On Loan: —       |
| AERCAP HOLDINGS NV                           | AerCap Holdings N.V. SHS                                   | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |      6788 | NS      | $931177.84    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| VEON LTD                                     | Veon Ltd. SPONSORED ADS                                    | CUSIP: 91822M502<br>LEI: 5493008CA3NMHYEVT131 | Long             | EC               | CORP              | BM        |     16962 | NS      | $785340.60    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc.          | Mitsubishi UFJ Financial Group Inc. SPONSORED ADS          | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    101829 | NS      | $1728038.13   | 3.83%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2026-05-21

**Name of Applicant:** AdvisorShares Trust

**Signature:** Dan Ahrens

**Name of Signer:** Dan Ahrens

**Title:** Secretary and Treasurer