# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-020588
**Filing Date:** 2026-5
**Character Count:** 48822
**Document Hash:** 764fedceaa0e5664b8ad952f769d5ae3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020588.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020588

**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:** 261007833

**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 Short ETF (Series ID: S000062084)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000201033 | AdvisorShares Dorsey Wright Short ETF | DWSH            |

## Nport-Ex

**ADVISORSHARES DORSEY WRIGHT SHORT ETF**

**Schedule of Investments**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **MONEY MARKET FUND – 80.5%** |  |  |
| STIT - Government & Agency Portfolio, Institutional Class, 3.58%<sup>(a)(b)</sup><br> (Cost $7,664,829) | 7664829 | $7664829 |
| Total Investments Before Securities Sold, Not Yet Purchased<br> (Cost $7,664,829) |  | 7664829 |
| **Securities Sold, Not Yet Purchased – (103.4)%** |  |  |
| **COMMON STOCKS – (103.4)%** |  |  |
| **Apparel – (1.1)%** |  |  |
| PVH Corp. | (1550) | (108128) |
| **Beverages – (3.3)%** |  |  |
| Brown-Forman Corp., Class B | (3709) | (98066) |
| Constellation Brands, Inc., Class A | (775) | (116250) |
| National Beverage Corp.<sup>(c)</sup> | (3000) | (100950) |
| Total Beverages |  | (315266) |
| **Biotechnology – (1.3)%** |  |  |
| Sarepta Therapeutics, Inc.<sup>(c)</sup> | (5470) | (119027) |
| **Building Materials – (1.1)%** |  |  |
| Owens Corning | (1000) | (108220) |
| **Chemicals – (3.2)%** |  |  |
| Celanese Corp. | (2510) | (165083) |
| FMC Corp. | (8033) | (138328) |
| Total Chemicals |  | (303411) |
| **Commercial Services – (14.8)%** |  |  |
| Automatic Data Processing, Inc. | (420) | (85335) |
| Booz Allen Hamilton Holding Corp. | (1305) | (101829) |
| Bright Horizons Family Solutions, Inc.<sup>(c)</sup> | (1560) | (128123) |
| Equifax, Inc. | (570) | (102640) |
| Euronet Worldwide, Inc.<sup>(c)</sup> | (1475) | (97896) |
| Global Payments, Inc. | (1200) | (80760) |
| H&R Block, Inc. | (2790) | (88555) |
| ManpowerGroup, Inc. | (3426) | (100930) |
| MarketAxess Holdings, Inc. | (620) | (102288) |
| Morningstar, Inc. | (730) | (123406) |
| PayPal Holdings, Inc. | (2830) | (128001) |
| Robert Half, Inc. | (3710) | (94234) |
| U-Haul Holding Co.<sup>(c)</sup> | (1950) | (93171) |
| Verisk Analytics, Inc. | (420) | (79695) |
| Total Commercial Services |  | (1406863) |
| **Computers – (5.5)%** |  |  |
| ASGN, Inc.<sup>(c)</sup> | (2530) | (97936) |
| DXC Technology Co.<sup>(c)</sup> | (8740) | (109862) |
| Gartner, Inc.<sup>(c)</sup> | (650) | (102921) |
| HP, Inc. | (5720) | (109881) |
| NCR Voyix Corp.<sup>(c)</sup> | (16300) | (103179) |
| Total Computers |  | (523779) |
| **Cosmetics/Personal Care – (1.2)%** |  |  |
| Perrigo Co., PLC | (10760) | (115562) |
| **Distribution/Wholesale – (1.6)%** |  |  |
| Copart, Inc.<sup>(c)</sup> | (2110) | (70052) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS (continued)** |  |  |
| **Distribution/Wholesale (continued)** |  |  |
| Pool Corp. | (430) | $(87002) |
| Total Distribution/Wholesale |  | (157054) |
| **Electrical Components & Equipment – (0.9)%** |  |  |
| Universal Display Corp. | (950) | (87077) |
| **Engineering & Construction – (1.0)%** |  |  |
| AECOM | (1170) | (99239) |
| **Entertainment – (1.4)%** |  |  |
| Marriott Vacations Worldwide Corp. | (1980) | (128938) |
| **Food – (5.6)%** |  |  |
| Campbell's Co.,(The) | (3350) | (74604) |
| Conagra Brands, Inc. | (5590) | (87875) |
| Flowers Foods, Inc. | (12490) | (101794) |
| General Mills, Inc. | (2010) | (74812) |
| Hormel Foods Corp. | (4355) | (98641) |
| Lamb Weston Holdings, Inc. | (2350) | (99311) |
| Total Food |  | (537037) |
| **Healthcare - Products – (6.1)%** |  |  |
| Baxter International, Inc. | (4740) | (79632) |
| Boston Scientific Corp.<sup>(c)</sup> | (1490) | (93497) |
| DENTSPLY SIRONA, Inc. | (8016) | (92986) |
| Enovis Corp.<sup>(c)</sup> | (4615) | (104991) |
| Integra LifeSciences Holdings Corp.<sup>(c)</sup> | (11318) | (106616) |
| Teleflex, Inc. | (862) | (103104) |
| Total Healthcare - Products |  | (580826) |
| **Healthcare - Services – (4.0)%** |  |  |
| Chemed Corp. | (219) | (82725) |
| Humana, Inc. | (580) | (100566) |
| Molina Healthcare, Inc.<sup>(c)</sup> | (957) | (127568) |
| UnitedHealth Group, Inc. | (270) | (73060) |
| Total Healthcare - Services |  | (383919) |
| **Household Products/Wares – (1.1)%** |  |  |
| Kimberly-Clark Corp. | (1095) | (105635) |
| **Housewares – (1.0)%** |  |  |
| Newell Brands, Inc. | (26560) | (91101) |
| **Insurance – (2.8)%** |  |  |
| Arthur J Gallagher & Co. | (505) | (109373) |
| Brown & Brown, Inc. | (1200) | (78252) |
| Erie Indemnity Co., Class A | (320) | (80419) |
| Total Insurance |  | (268044) |
| **Internet – (5.5)%** |  |  |
| CDW Corp. | (660) | (79873) |
| GoDaddy, Inc., Class A<sup>(c)</sup> | (1020) | (84323) |
| Netflix, Inc.<sup>(c)</sup> | (1490) | (143264) |
| Snap, Inc., Class A<sup>(c)</sup> | (21040) | (96784) |
| TripAdvisor, Inc.<sup>(c)</sup> | (10800) | (115128) |
| Total Internet |  | (519372) |
| **Leisure Time – (1.1)%** |  |  |
| Harley-Davidson, Inc. | (5270) | (106559) |

---

**ADVISORSHARES DORSEY WRIGHT SHORT ETF**

**Schedule of Investments (continued)**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS (continued)** |  |  |
| **Lodging – (1.2)%** |  |  |
| Choice Hotels International, Inc. | (1060) | $(109710) |
| **Media – (4.7)%** |  |  |
| Cable One, Inc.<sup>(c)</sup> | (1062) | (96865) |
| Charter Communications, Inc., Class A<sup>(c)</sup> | (480) | (103622) |
| FactSet Research Systems, Inc. | (537) | (116524) |
| Sirius XM Holdings, Inc. | (5453) | (125855) |
| Total Media |  | (442866) |
| **Office/Business Equipment – (0.9)%** |  |  |
| Zebra Technologies Corp., Class A<sup>(c)</sup> | (400) | (83632) |
| **Packaging & Containers – (0.9)%** |  |  |
| Graphic Packaging Holding Co. | (8970) | (89162) |
| **Pharmaceuticals – (3.6)%** |  |  |
| Agios Pharmaceuticals, Inc.<sup>(c)</sup> | (3950) | (133629) |
| Dexcom, Inc.<sup>(c)</sup> | (1760) | (110528) |
| Zoetis, Inc. | (830) | (98114) |
| Total Pharmaceuticals |  | (342271) |
| **Real Estate – (0.7)%** |  |  |
| CoStar Group, Inc.<sup>(c)</sup> | (1730) | (69788) |
| **REITS – (4.8)%** |  |  |
| Alexandria Real Estate Equities, Inc. | (1965) | (91215) |
| Douglas Emmett, Inc. | (10000) | (94200) |
| Service Properties Trust | (60405) | (81849) |
| SL Green Realty Corp. | (2180) | (80529) |
| Vornado Realty Trust | (4200) | (109158) |
| Total REITS |  | (456951) |
| **Retail – (6.1)%** |  |  |
| Bath & Body Works, Inc. | (5750) | (107353) |
| CarMax, Inc.<sup>(c)</sup> | (2540) | (105613) |
| Chipotle Mexican Grill, Inc.<sup>(c)</sup> | (2640) | (84506) |
| Cracker Barrel Old Country Store, Inc. | (3530) | (99228) |
| Floor & Decor Holdings, Inc., Class A<sup>(c)</sup> | (1880) | (95504) |
| Wendy's Co. (The) | (12330) | (85694) |
| Total Retail |  | (577898) |
| **Semiconductors – (1.1)%** |  |  |
| Skyworks Solutions, Inc. | (1900) | (101745) |
| **Software – (15.8)%** |  |  |
| Adobe, Inc.<sup>(c)</sup> | (375) | (91155) |
| Blackbaud, Inc.<sup>(c)</sup> | (2330) | (89961) |
| Fair Isaac Corp.<sup>(c)</sup> | (85) | (90741) |
| Fidelity National Information Services, Inc. | (2135) | (100153) |
| Fiserv, Inc.<sup>(c)</sup> | (1530) | (85374) |
| Guidewire Software, Inc.<sup>(c)</sup> | (685) | (102448) |
| Intuit, Inc. | (205) | (88638) |
| Oracle Corp. | (670) | (98564) |
| Paychex, Inc. | (880) | (81065) |
| Paycom Software, Inc. | (870) | (105740) |
| Roper Technologies, Inc. | (280) | (99081) |
| Salesforce, Inc. | (500) | (93335) |
| ServiceNow, Inc.<sup>(c)</sup> | (1125) | (117619) |
| Tyler Technologies, Inc.<sup>(c)</sup> | (230) | (78747) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS (continued)** |  |  |
| **Software (continued)** |  |  |
| Veeva Systems, Inc., Class A<sup>(c)</sup> | (520) | $(91343) |
| Workday, Inc., Class A<sup>(c)</sup> | (730) | (94842) |
| Total Software |  | (1508806) |
| **Total Securities Sold, Not Yet Purchased [Proceeds Received $(12008662)]** |  | $(9847886) |
| Total Investments – (22.9)% <br> (Cost $(4343833)) |  | (2183057) |
| Other Assets in Excess of Liabilities – 122.9% |  | 11708386 |
| **Net Assets – 100.0%** |  | $**9525329** |

---

PLC - Public Limited Company

REITS - Real Estate Investment Trusts

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

(b) A portion of this security has been pledged as collateral for securities sold, not yet purchased.

(c) Non-income producing security.

**ADVISORSHARES DORSEY WRIGHT SHORT 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** |
| Money Market Fund | $7664829 | $– | $– | $7664829 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liabilities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks | $(9847886) | $– | $– | $(9847886) |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | |
|:---|:---|
|  | **% of**<br>**Net Assets** |
| Apparel | (1.1)% |
| Beverages | (3.3) |
| Biotechnology | (1.3) |
| Building Materials | (1.1) |
| Chemicals | (3.2) |
| Commercial Services | (14.8) |
| Computers | (5.5) |
| Cosmetics/Personal Care | (1.2) |
| Distribution/Wholesale | (1.6) |
| Electrical Components & Equipment | (0.9) |
| Engineering & Construction | (1.0) |
| Entertainment | (1.4) |
| Food | (5.6) |
| Healthcare - Products | (6.1) |
| Healthcare - Services | (4.0) |
| Household Products/Wares | (1.1) |
| Housewares | (1.0) |
| Insurance | (2.8) |
| Internet | (5.5) |
| Leisure Time | (1.1) |
| Lodging | (1.2) |
| Media | (4.7) |
| Office/Business Equipment | (0.9) |
| Packaging & Containers | (0.9) |
| Pharmaceuticals | (3.6) |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS (continued)**

---

| | |
|:---|:---|
|  | **% of**<br>**Net Assets** |
| Real Estate | (0.7)% |
| REITS | (4.8) |
| Retail | (6.1) |
| Semiconductors | (1.1) |
| Software | (15.8) |
| Money Market Fund | 80.5 |
| Total Investments | (22.9) |
| Other Assets in Excess of Liabilities | 122.9 |
| 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 Short ETF

- **b. EDGAR series identifier (if any):** S000062084

- **c. LEI of Series:** 549300LTRG88VTGUGS49

**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:** $19427128.39

**Total Liabilities:** $9901799.71

**Net Assets:** $9525328.68

**Cash Not Reported:** $11730465.37

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201033 | -3.55%               | -0.75%               | 6.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-184002.69              | $-270450.05                                |
| Month 2  | $56595.77                | $-148018.89                                |
| Month 3  | $300864.29               | $221761.90                                 |

**Designated Index Information**

- **Index Name:** S&P 500 (Price)

- **Index Identifier:** 500

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Molina Healthcare, Inc.                    | Molina Healthcare, Inc. COM                       | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Short            | EC               | CORP              | US        |      -957 | NS      | $-127568.10   | -1.34%            |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHT HORIZONS FAMILY SOLUTIONS LLC       | Bright Horizons Family Solutions Inc Del COM      | CUSIP: 109194100<br>LEI: 254900BHOU40CFNXWQ75 | Short            | EC               | CORP              | US        |     -1560 | NS      | $-128122.80   | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corporation                         | Chemed Corporation COM                            | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Short            | EC               | CORP              | US        |      -219 | NS      | $-82725.06    | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.          | Booz Allen Hamilton Holding Corp. CL A            | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Short            | EC               | CORP              | US        |     -1305 | NS      | $-101829.15   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                               | Oracle Corp. COM                                  | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Short            | EC               | CORP              | US        |      -670 | NS      | $-98563.70    | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                | Zoetis Inc. CL A                                  | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Short            | EC               | CORP              | US        |      -830 | NS      | $-98114.30    | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp.                         | Brown-Forman Corp. CL B                           | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |     -3709 | NS      | $-98065.96    | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| NCR Voyix Corporation                      | NCR Voyix Corporation COM                         | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Short            | EC               | CORP              | US        |    -16300 | NS      | $-103179.00   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                      | Harley-Davidson, Inc. COM                         | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Short            | EC               | CORP              | US        |     -5270 | NS      | $-106559.40   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                         | Douglas Emmett Inc COM                            | CUSIP: 25960P109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -10000 | NS      | $-94200.00    | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.                    | Tyler Technologies Inc. COM                       | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Short            | EC               | CORP              | US        |      -230 | NS      | $-78747.40    | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                | Workday Inc CL A                                  | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Short            | EC               | CORP              | US        |      -730 | NS      | $-94841.60    | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                            | Salesforce Inc. COM                               | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Short            | EC               | CORP              | US        |      -500 | NS      | $-93335.00    | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Agios Pharmaceuticals Inc                  | Agios Pharmaceuticals Inc COM                     | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Short            | EC               | CORP              | US        |     -3950 | NS      | $-133628.50   | -1.40%            |  |  |  | No            |                  1 | On Loan: No      |
| The Wendys Company                         | The Wendys Company COM                            | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Short            | EC               | CORP              | US        |    -12330 | NS      | $-85693.50    | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Integra LifeSciences Holdings Corporation  | Integra LifeSciences Holdings Corporation COM NEW | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Short            | EC               | CORP              | US        |    -11318 | NS      | $-106615.56   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust                   | Service Properties Trust COM SH BEN INT           | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Short            | EC               | CORP              | US        |    -60405 | NS      | $-81848.78    | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                                | Paychex Inc COM                                   | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Short            | EC               | CORP              | US        |      -880 | NS      | $-81065.60    | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                 | Chipotle Mexican Grill Inc COM                    | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Short            | EC               | CORP              | US        |     -2640 | NS      | $-84506.40    | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| National Beverage Corp.                    | National Beverage Corp. COM                       | CUSIP: 635017106<br>LEI: 549300O9MZIQJI8TGV17 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-100950.00   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp                          | Hormel Foods Corp COM                             | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Short            | EC               | CORP              | US        |     -4355 | NS      | $-98640.75    | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                  | Adobe Inc COM                                     | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Short            | EC               | CORP              | US        |      -375 | NS      | $-91155.00    | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Company PLC                        | Perrigo Company PLC SHS                           | CUSIP: 000000000<br>LEI: 549300IFOQS6R1QLY196 | Short            | EC               | CORP              | IE        |    -10760 | NS      | $-115562.40   | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                                   | CDW Corp COM                                      | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Short            | EC               | CORP              | US        |      -660 | NS      | $-79873.20    | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                        | Paycom Software Inc COM                           | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Short            | EC               | CORP              | US        |      -870 | NS      | $-105739.80   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Carmax Inc                                 | Carmax Inc COM                                    | CUSIP: 143130102<br>LEI: 529900F60CID3NCZM330 | Short            | EC               | CORP              | US        |     -2540 | NS      | $-105613.20   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions, Inc.                   | Skyworks Solutions, Inc. COM                      | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Short            | EC               | CORP              | US        |     -1900 | NS      | $-101745.00   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co                          | Erie Indemnity Co CL A                            | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Short            | EC               | CORP              | US        |      -320 | NS      | $-80419.20    | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| DXC Technology Company                     | DXC Technology Company COM                        | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Short            | EC               | CORP              | US        |     -8740 | NS      | $-109861.80   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                          | Brown & Brown Inc COM                             | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Short            | EC               | CORP              | US        |     -1200 | NS      | $-78252.00    | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc                      | Bath & Body Works Inc COM                         | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Short            | EC               | CORP              | US        |     -5750 | NS      | $-107352.50   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International, Inc.                 | Baxter International, Inc. COM                    | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |     -4740 | NS      | $-79632.00    | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Tripadvisor Inc                            | Tripadvisor Inc COM                               | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Short            | EC               | CORP              | US        |    -10800 | NS      | $-115128.00   | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics, Inc.                     | Verisk Analytics, Inc. COM                        | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Short            | EC               | CORP              | US        |      -420 | NS      | $-79695.00    | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| GRAPHIC PACKAGING HOLDING CO               | Graphic Packaging Holding Company COM             | CUSIP: 388689101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8970 | NS      | $-89161.80    | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc.                  | MarketAxess Holdings Inc. COM                     | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Short            | EC               | CORP              | US        |      -620 | NS      | $-102287.60   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Incorporated                      | Teleflex Incorporated COM                         | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Short            | EC               | CORP              | US        |      -862 | NS      | $-103103.82   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                    | UnitedHealth Group Inc. COM                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Short            | EC               | CORP              | US        |      -270 | NS      | $-73059.30    | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International, Inc.          | Choice Hotels International, Inc. COM             | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Short            | EC               | CORP              | US        |     -1060 | NS      | $-109710.00   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL DISPLAY CORP                     | Universal Display Corp. COM                       | CUSIP: 91347P105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -950 | NS      | $-87077.00    | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.      | Alexandria Real Estate Equities, Inc. COM         | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Short            | EC               | CORP              | US        |     -1965 | NS      | $-91215.30    | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                         | Conagra Brands Inc COM                            | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Short            | EC               | CORP              | US        |     -5590 | NS      | $-87874.80    | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| The Campbells Co.                          | The Campbells Co. COM                             | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Short            | EC               | CORP              | US        |     -3350 | NS      | $-74604.50    | -0.78%            |  |  |  | No            |                  1 | On Loan: No      |
| Cable One Inc                              | Cable One Inc COM                                 | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Short            | EC               | CORP              | US        |     -1062 | NS      | $-96865.02    | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc.                           | Robert Half Inc. COM                              | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Short            | EC               | CORP              | US        |     -3710 | NS      | $-94234.00    | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                     | HP Inc COM                                        | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Short            | EC               | CORP              | US        |     -5720 | NS      | $-109881.20   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                   | Sarepta Therapeutics Inc COM                      | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Short            | EC               | CORP              | US        |     -5470 | NS      | $-119027.20   | -1.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio      | Invesco Government & Agency Portfolio             | CUSIP: 000000000<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |   7664829 | NS      | $7664829.08   | 80.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Sl Green Realty Corp                       | Sl Green Realty Corp COM                          | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               | CORP              | US        |     -2180 | NS      | $-80529.20    | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corporation                         | Enovis Corporation COM                            | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Short            | EC               | CORP              | US        |     -4615 | NS      | $-104991.25   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                   | Lamb Weston Holdings Inc COM                      | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Short            | EC               | CORP              | US        |     -2350 | NS      | $-99311.00    | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                        | Global Payments Inc COM                           | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Short            | EC               | CORP              | US        |     -1200 | NS      | $-80760.00    | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor And Decor Holding Inc.               | Floor And Decor Holding Inc. CL A                 | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -1880 | NS      | $-95504.00    | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc.              | FactSet Research Systems Inc. COM                 | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Short            | EC               | CORP              | US        |      -537 | NS      | $-116523.63   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide Corp          | Marriott Vacations Worldwide Corp COM             | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Short            | EC               | CORP              | US        |     -1980 | NS      | $-128937.60   | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands Inc.                         | Newell Brands Inc. COM                            | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Short            | EC               | CORP              | US        |    -26560 | NS      | $-91100.80    | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                 | DexCom Inc COM                                    | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Short            | EC               | CORP              | US        |     -1760 | NS      | $-110528.00   | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                              | Owens Corning COM                                 | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-108220.00   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                     | Fair Isaac Corporation COM                        | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Short            | EC               | CORP              | US        |       -85 | NS      | $-90740.90    | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                     | Roper Technologies Inc COM                        | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Short            | EC               | CORP              | US        |      -280 | NS      | $-99080.80    | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corporation                       | Celanese Corporation COM                          | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Short            | EC               | CORP              | US        |     -2510 | NS      | $-165082.70   | -1.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.            | Automatic Data Processing, Inc. COM               | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Short            | EC               | CORP              | US        |      -420 | NS      | $-85335.60    | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                                | Fiserv Inc. COM                                   | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Short            | EC               | CORP              | US        |     -1530 | NS      | $-85374.00    | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store Inc.      | Cracker Barrel Old Country Store Inc. COM         | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Short            | EC               | CORP              | US        |     -3530 | NS      | $-99228.30    | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Dentsply Sirona Inc                        | Dentsply Sirona Inc COM                           | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Short            | EC               | CORP              | US        |     -8016 | NS      | $-92985.60    | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                              | Netflix, Inc. COM                                 | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Short            | EC               | CORP              | US        |     -1490 | NS      | $-143263.50   | -1.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corporation              | Boston Scientific Corporation COM                 | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Short            | EC               | CORP              | US        |     -1490 | NS      | $-93497.50    | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide, Inc.                    | Euronet Worldwide, Inc. COM                       | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Short            | EC               | CORP              | US        |     -1475 | NS      | $-97895.75    | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corporation             | Zebra Technologies Corporation CL A               | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Short            | EC               | CORP              | US        |      -400 | NS      | $-83632.00    | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                       | Paypal Holdings Inc. COM                          | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Short            | EC               | CORP              | US        |     -2830 | NS      | $-128000.90   | -1.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                          | Veeva Systems Inc CL A COM                        | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Short            | EC               | CORP              | US        |      -520 | NS      | $-91343.20    | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp.                                  | PVH Corp. COM                                     | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Short            | EC               | CORP              | US        |     -1550 | NS      | $-108128.00   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUS XM HOLDINGS INC                     | SiriusXM Holdings Inc COMMON STOCK                | CUSIP: 829933100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5453 | NS      | $-125855.24   | -1.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc | Fidelity National Information Services Inc COM    | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Short            | EC               | CORP              | US        |     -2135 | NS      | $-100152.85   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Blackbaud Inc                              | Blackbaud Inc COM                                 | CUSIP: 09227Q100<br>LEI: 54930056X3HKFMNG3754 | Short            | EC               | CORP              | US        |     -2330 | NS      | $-89961.30    | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands, Inc.                 | Constellation Brands, Inc. CL A                   | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |      -775 | NS      | $-116250.00   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corporation                           | Pool Corporation COM                              | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Short            | EC               | CORP              | US        |      -430 | NS      | $-87001.90    | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Servicenow Inc                             | Servicenow Inc COM                                | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Short            | EC               | CORP              | US        |     -1125 | NS      | $-117618.75   | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Asgn Incorporated                          | Asgn Incorporated COM                             | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Short            | EC               | CORP              | US        |     -2530 | NS      | $-97936.30    | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc.                         | ManpowerGroup Inc. COM                            | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Short            | EC               | CORP              | US        |     -3426 | NS      | $-100929.96   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                        | General Mills, Inc. COM                           | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Short            | EC               | CORP              | US        |     -2010 | NS      | $-74812.20    | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.               | Charter Communications, Inc. CL A                 | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Short            | EC               | CORP              | US        |      -480 | NS      | $-103622.40   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc.                               | Equifax Inc. COM                                  | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Short            | EC               | CORP              | US        |      -570 | NS      | $-102639.90   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                 | Copart Inc COM                                    | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Short            | EC               | CORP              | US        |     -2110 | NS      | $-70052.00    | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp.                                  | FMC Corp. COM NEW                                 | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Short            | EC               | CORP              | US        |     -8033 | NS      | $-138328.26   | -1.45%            |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                      | AECOM COM                                         | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Short            | EC               | CORP              | US        |     -1170 | NS      | $-99239.40    | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                                   | Snap Inc CL A                                     | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Short            | EC               | CORP              | US        |    -21040 | NS      | $-96784.00    | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                           | Gallagher Aj &Co COM                              | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Short            | EC               | CORP              | US        |      -505 | NS      | $-109372.90   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                     | Guidewire Software Inc COM                        | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Short            | EC               | CORP              | US        |      -685 | NS      | $-102448.60   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                 | Intuit Inc COM                                    | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Short            | EC               | CORP              | US        |      -205 | NS      | $-88637.90    | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                | Humana Inc. COM                                   | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Short            | EC               | CORP              | US        |      -580 | NS      | $-100566.20   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corporation                 | Kimberly-Clark Corporation COM                    | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Short            | EC               | CORP              | US        |     -1095 | NS      | $-105634.65   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                       | Vornado Realty Trust SH BEN INT                   | CUSIP: 929042109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4200 | NS      | $-109158.00   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods, Inc.                        | Flowers Foods, Inc. COM                           | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Short            | EC               | CORP              | US        |    -12490 | NS      | $-101793.50   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Godaddy Inc                                | Godaddy Inc CL A                                  | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Short            | EC               | CORP              | US        |     -1020 | NS      | $-84323.40    | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                         | U-Haul Holding Co. COM                            | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Short            | EC               | CORP              | US        |     -1950 | NS      | $-93171.00    | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Block(H&R)Inc                              | Block(H&R)Inc COM                                 | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Short            | EC               | CORP              | US        |     -2790 | NS      | $-88554.60    | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                           | Costar Group Inc COM                              | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Short            | EC               | CORP              | US        |     -1730 | NS      | $-69788.20    | -0.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                            | Morningstar Inc COM                               | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Short            | EC               | CORP              | US        |      -730 | NS      | $-123406.50   | -1.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc.                               | Gartner Inc. COM                                  | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Short            | EC               | CORP              | US        |      -650 | NS      | $-102921.00   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** AdvisorShares Trust

**Signature:** Dan Ahrens

**Name of Signer:** Dan Ahrens

**Title:** Secretary and Treasurer