# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0001752724-25-203054
**Filing Date:** 2025-8
**Character Count:** 35589
**Document Hash:** 7f673225aa9e6ebba2b4b5adf7a27ca7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203054.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-203054

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20250630

**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:** 251251816

**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 Insider Advantage ETF (Series ID: S000031813)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000099071 | AdvisorShares Insider Advantage ETF | SURE            |

## 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 Insider Advantage ETF

- **b. EDGAR series identifier (if any):** S000031813

- **c. LEI of Series:** 54930085C9IKMRA4B072

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $55442098.71

**Total Liabilities:** $8486765.77

**Net Assets:** $46955332.94

**Cash Not Reported:** $237888.41

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000099071 | -2.10%               | 4.27%                | 3.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-484837.51              | $-516000.15                                |
| Month 2  | $0.00                    | $1815418.49                                |
| Month 3  | $606800.24               | $792686.61                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bunge Global SA                | Bunge Global SA                   | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | US        |      5816 | NS      | $466908.48    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive Inc         | Group 1 Automotive Inc            | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      1070 | NS      | $467279.70    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works Inc             | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     16160 | NS      | $484153.60    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp                          | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       524 | NS      | $469367.76    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Co | Booz Allen Hamilton Holding Corp  | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |      4307 | NS      | $448487.91    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp              | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     17324 | NS      | $482300.16    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd     | RenaissanceRe Holdings Ltd        | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |      1797 | NS      | $436491.30    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                | TJX Cos Inc/The                   | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      3590 | NS      | $443329.10    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                     | Belden Inc                        | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      4221 | NS      | $488791.80    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp           | Las Vegas Sands Corp              | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     11047 | NS      | $480654.97    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Enact Holdings Inc             | Enact Holdings Inc                | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |     12800 | NS      | $475520.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                       | APA Corp                          | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |     26201 | NS      | $479216.29    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Napco Security Technologies In | Napco Security Technologies Inc   | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |     16163 | NS      | $479879.47    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                    | Gentex Corp                       | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     19779 | NS      | $434940.21    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                    | Toro Co/The                       | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      6650 | NS      | $470022.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillard's Inc                  | Dillard's Inc                     | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |      1146 | NS      | $478833.18    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitio Royalties Corp           | Sitio Royalties Corp              | CUSIP: 82983N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25500 | NS      | $468690.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp              | Ralph Lauren Corp                 | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      1640 | NS      | $449819.20    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                      | Pool Corp                         | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      1613 | NS      | $470157.24    | 1.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Premier Inc                    | Premier Inc                       | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19706 | NS      | $432152.58    | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |
| Chemed Corp                    | Chemed Corp                       | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       959 | NS      | $466965.87    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                     | Atkore Inc                        | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |      6800 | NS      | $479740.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co             | SEI Investments Co                | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |      5547 | NS      | $498453.42    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Ocean Group Ltd         | Golden Ocean Group Ltd            | CUSIP: 000000000<br>LEI: 549300HQH91CZG0OJL61 | Long             | EC               | CORP              | NO        |     64160 | NS      | $469651.20    | 1.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc     | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      2895 | NS      | $469858.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp               | Boyd Gaming Corp                  | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      6307 | NS      | $493396.61    | 1.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Albany International Corp      | Albany International Corp         | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |      6600 | NS      | $462858.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3318 | NS      | $475104.42    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                | Match Group Inc                   | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     15211 | NS      | $469867.79    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd                  | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | US        |      7700 | NS      | $467621.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV Inc                           | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |     35248 | NS      | $438132.64    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp           | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      2828 | NS      | $469759.08    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                     | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      6690 | NS      | $479873.70    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc            | Elevance Health Inc               | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      1168 | NS      | $454305.28    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc   | Monolithic Power Systems Inc      | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       640 | NS      | $468083.20    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings  | Allison Transmission Holdings Inc | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |      4919 | NS      | $467255.81    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers Inc            | Scorpio Tankers Inc               | CUSIP: 000000000<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MC        |     11654 | NS      | $456021.02    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       809 | NS      | $454609.46    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                | Cigna Group/The                   | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1430 | NS      | $472729.40    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co/The             | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |      7991 | NS      | $447336.18    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc     | CF Industries Holdings Inc        | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      5029 | NS      | $462668.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co           | Colgate-Palmolive Co              | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      5172 | NS      | $470134.80    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA Inc                    | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      1157 | NS      | $470667.60    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                | Morningstar Inc                   | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      1491 | NS      | $468069.63    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block Inc                     | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      8000 | NS      | $439120.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                   | Newmont Corp                      | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      8070 | NS      | $470158.20    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc  | Hilton Worldwide Holdings Inc     | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      1850 | NS      | $492729.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc        | Comfort Systems USA Inc           | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |       866 | NS      | $464357.86    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc             | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2570 | NS      | $470489.90    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK TREASURY TRUST       | BLACKROCK TREASURY TRUST          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     61409 | NS      | $61408.94     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc             | Domino's Pizza Inc                | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       967 | NS      | $435730.20    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc  | Affiliated Managers Group Inc     | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      2395 | NS      | $471264.15    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                     | Matson Inc                        | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |      4030 | NS      | $448740.50    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC             | Royalty Pharma PLC                | CUSIP: 000000000<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | US        |     13247 | NS      | $477289.41    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts Inc               | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      2950 | NS      | $471115.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc   | Wyndham Hotels & Resorts Inc      | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      5794 | NS      | $470530.74    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                 | NRG Energy Inc                    | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      2940 | NS      | $472105.20    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial            | Synchrony Financial               | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      7000 | NS      | $467180.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare Inc                | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1202 | NS      | $460486.20    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| John Wiley & Sons Inc          | John Wiley & Sons Inc             | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     10440 | NS      | $465937.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St Joe Co/The                     | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |      9900 | NS      | $472230.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc     | Iridium Communications Inc        | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     15460 | NS      | $466428.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                 | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      3920 | NS      | $468871.20    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc             | United Rentals Inc                | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       642 | NS      | $483682.80    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                   | Wingstop Inc                      | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      1326 | NS      | $446517.24    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                      | Argan Inc                         | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      2100 | NS      | $463008.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                   | Vontier Corp                      | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     12743 | NS      | $470216.70    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc         | Skyworks Solutions Inc            | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |      6300 | NS      | $469476.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life Inc                 | Globe Life Inc                    | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |      3737 | NS      | $464471.73    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc              | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        83 | NS      | $480506.92    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                          | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1250 | NS      | $443812.50    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                      | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      1551 | NS      | $486858.90    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                  | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      7483 | NS      | $438728.29    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                          | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |       820 | NS      | $472926.80    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagseguro Digital Ltd          | Pagseguro Digital Ltd             | CUSIP: 000000000<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | BR        |     51440 | NS      | $495881.60    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc               | A10 Networks Inc                  | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     24350 | NS      | $471172.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                        | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      2805 | NS      | $437439.75    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp            | Otis Worldwide Corp               | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      4606 | NS      | $456086.12    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co/The                 | Wendy's Co/The                    | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |     40100 | NS      | $457942.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| Medical Properties Trust Inc   | Medical Properties Trust Inc      | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    108962 | NS      | $469626.22    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc         | FirstCash Holdings Inc            | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3560 | NS      | $481098.40    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc           | Verisk Analytics Inc              | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      1499 | NS      | $466938.50    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc  | American Eagle Outfitters Inc     | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |     48650 | NS      | $468013.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DREY INST PREF GOV MM-M        | DREY INST PREF GOV MM-M           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    471577 | NS      | $471576.55    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      2700 | NS      | $475821.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings Inc   | Bread Financial Holdings Inc      | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |      8200 | NS      | $468384.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd                        | CUSIP: 000000000<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | US        |      4964 | NS      | $452915.36    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Acushnet Holdings Corp         | Acushnet Holdings Corp            | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |      6480 | NS      | $471873.60    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc         | TKO Group Holdings Inc            | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2684 | NS      | $488353.80    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co                    | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     23054 | NS      | $469840.52    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                | Yum! Brands Inc                   | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      3164 | NS      | $468841.52    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                     | Phinia Inc                        | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     10573 | NS      | $470392.77    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                | Schlumberger NV                   | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     13659 | NS      | $461674.20    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I | American International Group Inc  | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      5261 | NS      | $450288.99    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                       | SLM Corp                          | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14107 | NS      | $462568.53    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      2275 | NS      | $466761.75    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group Inc                   | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       866 | NS      | $463214.74    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/T | Hartford Insurance Group Inc/The  | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      3577 | NS      | $453813.99    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc           | Jacobs Solutions Inc              | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3570 | NS      | $469276.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                     | NetApp Inc                        | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      4410 | NS      | $469885.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc               | Clear Secure Inc                  | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16900 | NS      | $469144.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                 | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      4907 | NS      | $477647.38    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** AdvisorShares Trust

**Signature:** Dan Ahrens

**Name of Signer:** Dan Ahrens

**Title:** Secretary and Treasurer