# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0001752724-23-035101
**Filing Date:** 2023-2
**Character Count:** 39393
**Document Hash:** 48a4e02885dc13df252492e4991f278d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-035101.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-035101

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AdvisorShares Trust
- **CENTRAL INDEX KEY:** 0001408970
- **IRS NUMBER:** 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:** 23657120

**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            |

## 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:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-30

**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:** $76759748.29

**Total Liabilities:** $36989926.76

**Net Assets:** $39769821.53

**Cash Not Reported:** $31224573.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201033 | -10.45%              | -7.55%               | 8.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-824690.05              | $-5146369.69                               |
| Month 2  | $-2150717.08             | $-1533509.48                               |
| Month 3  | $33657.15                | $2804921.39                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LendingTree Inc                                    | LendingTree Inc                                    | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Short            | EC               | CORP              | US        |    -16181 | NS      | $-345140.73   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc                             | Lumen Technologies Inc                             | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Short            | EC               | CORP              | US        |    -70100 | NS      | $-365922.00   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                               | SL Green Realty Corp                               | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               | CORP              | US        |     -8909 | NS      | $-300411.48   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Spirit AeroSystems Holdings In                     | Spirit AeroSystems Holdings Inc                    | CUSIP: 848574109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -13821 | NS      | $-409101.60   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc                         | Stanley Black & Decker Inc                         | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |     -4392 | NS      | $-329927.04   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                                           | PVH Corp                                           | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Short            | EC               | CORP              | US        |     -5689 | NS      | $-401586.51   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                 | Meta Platforms Inc                                 | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Short            | EC               | CORP              | US        |     -3611 | NS      | $-434547.74   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                        | NVIDIA Corp                                        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Short            | EC               | CORP              | US        |     -3138 | NS      | $-458587.32   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| MKS Instruments Inc                                | MKS Instruments Inc                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Short            | EC               | CORP              | US        |     -4680 | NS      | $-396536.40   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                              | Euronet Worldwide Inc                              | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Short            | EC               | CORP              | US        |     -4689 | NS      | $-442547.82   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                                         | TransUnion                                         | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Short            | EC               | CORP              | US        |     -6790 | NS      | $-385332.50   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                          | Block Inc                                          | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Short            | EC               | CORP              | US        |     -6726 | NS      | $-422661.84   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| NCR Corp                                           | NCR Corp                                           | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Short            | EC               | CORP              | US        |    -18720 | NS      | $-438235.20   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corp                               | JetBlue Airways Corp                               | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Short            | EC               | CORP              | US        |    -43223 | NS      | $-280085.04   | -0.70%            |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                     | Salesforce Inc                                     | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Short            | EC               | CORP              | US        |     -2275 | NS      | $-301642.25   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                     | Amazon.com Inc                                     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Short            | EC               | CORP              | US        |     -3485 | NS      | $-292740.00   | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                       | Diversified Healthcare Trust                       | CUSIP: 25525P107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -528041 | NS      | $-341536.92   | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Pegasystems Inc                                    | Pegasystems Inc                                    | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Short            | EC               | CORP              | US        |    -11524 | NS      | $-394581.76   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                                 | Walt Disney Co/The                                 | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Short            | EC               | CORP              | US        |     -3147 | NS      | $-273411.36   | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                         | Advanced Micro Devices Inc                         | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Short            | EC               | CORP              | US        |     -5660 | NS      | $-366598.20   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp                                        | Enovis Corp                                        | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Short            | EC               | CORP              | US        |     -7690 | NS      | $-411568.80   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                             | Guidewire Software Inc                             | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Short            | EC               | CORP              | US        |     -6679 | NS      | $-417838.24   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| AdvisorShares North Square McKee Core Reserves ETF | AdvisorShares North Square McKee Core Reserves ETF | CUSIP: 00768Y651<br>LEI: 549300JV5T62F5E7S151 | Long             | EC               | RF                | US        |    100000 | NS      | $9731000.00   | 24.47%            |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                                | PayPal Holdings Inc                                | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Short            | EC               | CORP              | US        |     -4325 | NS      | $-308026.50   | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories Int                     | Charles River Laboratories International Inc       | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Short            | EC               | CORP              | US        |     -1518 | NS      | $-330772.20   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                                         | Intel Corp                                         | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Short            | EC               | CORP              | US        |    -13534 | NS      | $-357703.62   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Altice USA Inc                                     | Altice USA Inc                                     | CUSIP: 02156K103<br>LEI: 54930064K3612MGCER95 | Short            | EC               | CORP              | US        |    -56997 | NS      | $-262186.20   | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Qurate Retail Inc                                  | Qurate Retail Inc                                  | CUSIP: 74915M100<br>LEI: 549300PSXEKU4PHLCR04 | Short            | EC               | CORP              | US        |   -173577 | NS      | $-282930.51   | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                                      | Carnival Corp                                      | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Short            | EC               | CORP              | US        |    -46342 | NS      | $-373516.52   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Cimpress PLC                                       | Cimpress PLC                                       | CUSIP: 000000000<br>LEI: 549300X1IFD75XISOR81 | Short            | EC               | CORP              | IE        |    -14465 | NS      | $-399378.65   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information                      | Fidelity National Information Services Inc         | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Short            | EC               | CORP              | US        |     -5700 | NS      | $-386745.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| JELD-WEN Holding Inc                               | JELD-WEN Holding Inc                               | CUSIP: 47580P103<br>LEI: 529900AXX7CT9GZSCS30 | Short            | EC               | CORP              | US        |    -33650 | NS      | $-324722.50   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| SVB Financial Group                                | SVB Financial Group                                | CUSIP: 78486Q101<br>LEI: 549300D2KJ20JMXE7542 | Short            | EC               | CORP              | US        |     -1605 | NS      | $-369374.70   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Cinemark Holdings Inc                              | Cinemark Holdings Inc                              | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Short            | EC               | CORP              | US        |    -33900 | NS      | $-293574.00   | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                                       | Entegris Inc                                       | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Short            | EC               | CORP              | US        |     -5600 | NS      | $-367304.00   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Scotts Miracle-Gro Co/The                          | Scotts Miracle-Gro Co/The                          | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Short            | EC               | CORP              | US        |     -8608 | NS      | $-418262.72   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp                            | Zebra Technologies Corp                            | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Short            | EC               | CORP              | US        |     -1103 | NS      | $-282820.23   | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                                       | Teleflex Inc                                       | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Short            | EC               | CORP              | US        |     -1754 | NS      | $-437851.02   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc                          | Warner Bros Discovery Inc                          | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Short            | EC               | CORP              | US        |    -35503 | NS      | $-336568.44   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                                          | Qorvo Inc                                          | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Short            | EC               | CORP              | US        |     -3710 | NS      | $-336274.40   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Hanesbrands Inc                                    | Hanesbrands Inc                                    | CUSIP: 410345102<br>LEI: GX5LWVWZLL5S4W1L2F20 | Short            | EC               | CORP              | US        |    -53097 | NS      | $-337696.92   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| ANSYS Inc                                          | ANSYS Inc                                          | CUSIP: 03662Q105<br>LEI: 549300VJV8H15Z5FJ571 | Short            | EC               | CORP              | US        |     -1655 | NS      | $-399831.45   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                      | Hudson Pacific Properties Inc                      | CUSIP: 444097109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -28369 | NS      | $-276030.37   | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PL                     | Seagate Technology Holdings PLC                    | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Short            | EC               | CORP              | US        |     -7070 | NS      | $-371952.70   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Cable One Inc                                      | Cable One Inc                                      | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Short            | EC               | CORP              | US        |      -440 | NS      | $-313218.40   | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                       | Illumina Inc                                       | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-404400.00   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                             | Marvell Technology Inc                             | CUSIP: 573874104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -9700 | NS      | $-359288.00   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services I                     | West Pharmaceutical Services Inc                   | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Short            | EC               | CORP              | US        |     -1670 | NS      | $-393034.50   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Nektar Therapeutics                                | Nektar Therapeutics                                | CUSIP: 640268108<br>LEI: 5299005I24806IOIYE03 | Short            | EC               | CORP              | US        |   -145835 | NS      | $-329587.10   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Signature Bank/New York NY                         | Signature Bank/New York NY                         | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Short            | EC               | CORP              | US        |     -2892 | NS      | $-333216.24   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Splunk Inc                                         | Splunk Inc                                         | CUSIP: 848637104<br>LEI: 549300XGDSGBP6UEI867 | Short            | EC               | CORP              | US        |     -4730 | NS      | $-407205.70   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                                        | Wayfair Inc                                        | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Short            | EC               | CORP              | US        |    -10067 | NS      | $-331103.63   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Hain Celestial Group Inc/The                       | Hain Celestial Group Inc/The                       | CUSIP: 405217100<br>LEI: 5493000S8QXWHLIXDP75 | Short            | EC               | CORP              | US        |    -22638 | NS      | $-366282.84   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                                           | Snap Inc                                           | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Short            | EC               | CORP              | US        |    -41533 | NS      | $-371720.35   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                                         | Hasbro Inc                                         | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Short            | EC               | CORP              | US        |     -6600 | NS      | $-402666.00   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc                                 | Ally Financial Inc                                 | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Short            | EC               | CORP              | US        |    -15800 | NS      | $-386310.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                               | Vornado Realty Trust                               | CUSIP: 929042109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -15312 | NS      | $-318642.72   | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                               | Western Digital Corp                               | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Short            | EC               | CORP              | US        |    -10300 | NS      | $-324965.00   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands Inc                                  | Newell Brands Inc                                  | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Short            | EC               | CORP              | US        |    -32600 | NS      | $-426408.00   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                                       | Teradyne Inc                                       | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Short            | EC               | CORP              | US        |     -5056 | NS      | $-441641.60   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                       | Medical Properties Trust Inc                       | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Short            | EC               | CORP              | US        |    -32400 | NS      | $-360936.00   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc                           | Bio-Rad Laboratories Inc                           | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Short            | EC               | CORP              | US        |      -940 | NS      | $-395260.60   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings Inc                       | Bread Financial Holdings Inc                       | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Short            | EC               | CORP              | US        |    -10612 | NS      | $-399647.92   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                                           | eBay Inc                                           | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Short            | EC               | CORP              | US        |     -8687 | NS      | $-360249.89   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc                           | MarketAxess Holdings Inc                           | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Short            | EC               | CORP              | US        |     -1398 | NS      | $-389888.22   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp                                 | IPG Photonics Corp                                 | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Short            | EC               | CORP              | US        |     -3861 | NS      | $-365520.87   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                           | NIKE Inc                                           | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Short            | EC               | CORP              | US        |     -3851 | NS      | $-450605.51   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                 | Douglas Emmett Inc                                 | CUSIP: 25960P109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -19419 | NS      | $-304489.92   | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| VF Corp                                            | VF Corp                                            | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Short            | EC               | CORP              | US        |    -11299 | NS      | $-311965.39   | -0.78%            |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc                             | T Rowe Price Group Inc                             | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Short            | EC               | CORP              | US        |     -3347 | NS      | $-365023.82   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp                       | Six Flags Entertainment Corp                       | CUSIP: 83001A102<br>LEI: 549300JYTDUAA4JQ3717 | Short            | EC               | CORP              | US        |    -19087 | NS      | $-443772.75   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                                   | Zillow Group Inc                                   | CUSIP: 98954M101<br>LEI: 2549002XEELQDIR6FU05 | Short            | EC               | CORP              | US        |    -12016 | NS      | $-375019.36   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Sabre Corp                                         | Sabre Corp                                         | CUSIP: 78573M104<br>LEI: 529900VKCYZW8GZ4WW58 | Short            | EC               | CORP              | US        |    -63966 | NS      | $-395309.88   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| CarMax Inc                                         | CarMax Inc                                         | CUSIP: 143130102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6000 | NS      | $-365340.00   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVT AGENCY INSTL                          | INVESCO GOVT AGENCY INSTL                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  35741679 | NS      | $35741679.22  | 89.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                                         | Garmin Ltd                                         | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Short            | EC               | CORP              | CH        |     -4238 | NS      | $-391125.02   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                               | Align Technology Inc                               | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Short            | EC               | CORP              | US        |     -1885 | NS      | $-397546.50   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Syneos Health Inc                                  | Syneos Health Inc                                  | CUSIP: 87166B102<br>LEI: 549300F1ZGKDS8P6GU13 | Short            | EC               | CORP              | US        |    -11644 | NS      | $-427101.92   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp                             | Universal Display Corp                             | CUSIP: 91347P105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3187 | NS      | $-344323.48   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                        | Workday Inc                                        | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Short            | EC               | CORP              | US        |     -2558 | NS      | $-428030.14   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corp                                      | Celanese Corp                                      | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Short            | EC               | CORP              | US        |     -3696 | NS      | $-377879.04   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                                          | Ball Corp                                          | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Short            | EC               | CORP              | US        |     -7040 | NS      | $-360025.60   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                          | Adobe Inc                                          | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Short            | EC               | CORP              | US        |     -1023 | NS      | $-344270.19   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc                              | Mohawk Industries Inc                              | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Short            | EC               | CORP              | US        |     -3630 | NS      | $-371058.60   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| WW International Inc                               | WW International Inc                               | CUSIP: 98262P101<br>LEI: SGT8R1MU6ESIC7UJC518 | Short            | EC               | CORP              | US        |    -96082 | NS      | $-370876.52   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                            | XPO Inc                                            | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Short            | EC               | CORP              | US        |     -8168 | NS      | $-271912.72   | -0.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corp                                        | Masimo Corp                                        | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Short            | EC               | CORP              | US        |     -2954 | NS      | $-437044.30   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| DISH Network Corp                                  | DISH Network Corp                                  | CUSIP: 25470M109<br>LEI: 529900U350CWHH15G169 | Short            | EC               | CORP              | US        |    -25018 | NS      | $-351252.72   | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                                  | Expedia Group Inc                                  | CUSIP: 30212P303<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3834 | NS      | $-335858.40   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Nutrition Ltd                            | Herbalife Nutrition Ltd                            | CUSIP: 000000000<br>LEI: 549300BA7TYPBSZZIA41 | Short            | EC               | CORP              | US        |    -21859 | NS      | $-325261.92   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| PacWest Bancorp                                    | PacWest Bancorp                                    | CUSIP: 695263103<br>LEI: 549300YI8VMFO7G36V04 | Short            | EC               | CORP              | US        |    -13103 | NS      | $-300713.85   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc                         | Charter Communications Inc                         | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Short            | EC               | CORP              | US        |     -1046 | NS      | $-354698.60   | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| 2U Inc                                             | 2U Inc                                             | CUSIP: 90214J101<br>LEI: 5493008RVTXVR43PYF84 | Short            | EC               | CORP              | US        |    -66309 | NS      | $-415757.43   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                                        | Cognex Corp                                        | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Short            | EC               | CORP              | US        |     -8873 | NS      | $-418007.03   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA Inc                                | DENTSPLY SIRONA Inc                                | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Short            | EC               | CORP              | US        |    -10370 | NS      | $-330180.80   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp                                | Exact Sciences Corp                                | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Short            | EC               | CORP              | US        |    -10106 | NS      | $-500348.06   | -1.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                                       | Newmont Corp                                       | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Short            | EC               | CORP              | US        |     -9438 | NS      | $-445473.60   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global                                   | Paramount Global                                   | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Short            | EC               | CORP              | US        |    -19750 | NS      | $-333380.00   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Catalent Inc                                       | Catalent Inc                                       | CUSIP: 148806102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8260 | NS      | $-371782.60   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutio                     | Bright Horizons Family Solutions Inc               | CUSIP: 109194100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5147 | NS      | $-324775.70   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc                                   | Under Armour Inc                                   | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Short            | EC               | CORP              | US        |    -52316 | NS      | $-466658.72   | -1.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                             | Skyworks Solutions Inc                             | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Short            | EC               | CORP              | US        |     -4514 | NS      | $-411360.82   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** AdvisorShares Trust

**Signature:** Dan Ahrens

**Name of Signer:** Dan Ahrens

**Title:** Secretary and Treasurer