# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-001827
**Filing Date:** 2026-1
**Character Count:** 9919
**Document Hash:** c0c665651aff2a76f6e29b22e5b32e90
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-001827.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0000940400-26-001827

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**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/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22110
- **FILM NUMBER:** 26554542

**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 MSOS Daily Leveraged ETF (Series ID: S000077183)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000237353 | AdvisorShares MSOS Daily Leveraged ETF | MSOX            |

## Nport-Ex

**ADVISORSHARES MSOS DAILY LEVERAGED ETF**

**(formerly AdvisorShares MSOS 2x Daily ETF)**

**Schedule of Investments**

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **EXCHANGE TRADED FUND – 0.0%** |  |  |
| **Equity Fund – 0.0%** |  |  |
| AdvisorShares Pure US Cannabis ETF<sup>†(a)</sup><br> (Cost $368) | 100 | $479 |
| **MONEY MARKET FUND – 8.1%** |  |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 4.00%<sup>(b)</sup><br> (Cost $4,492,326) | 4492326 | 4492326 |
| Total Investments – 8.1%<br> (Cost $4,492,694) |  | 4492805 |
| Other Assets in Excess of Liabilities – 91.9% |  | 51188044 |
| **Net Assets – 100.0%** |  | $**55680849** |

---

OBFR - Overnight Bank Funding Rate

† Affiliated Company.

(a) Non-income producing security.

(b) Rate shown reflects the 7-day yield as of September 30, 2025.

**ADVISORSHARES MSOS DAILY LEVERAGED ETF**

**(formerly AdvisorShares MSOS 2x Daily ETF)**

**Schedule of Investments (continued)**

September 30, 2025 (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 September 30, 2025, 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** |
| Exchange Traded Fund | $479 | $– | $– | $479 |
| Money Market Fund | 4492326 |  |  | 4492326 |
| Swaps<sup>†</sup> | – | – | – | – |
| Total | $4492805 | $– | $– | $4492805 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liabilities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Swap<sup>†</sup> | $– | $(333638) | $– | $(333638) |

---

† Derivative instruments, including swap contracts, are valued at the net unrealized gain (loss) on the instrument.

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | | |
|:---|:---|:---|
|  | **% of** **<br> Net Assets** |  |
| Equity Fund | 0.0 | %\*\* |
| Money Market Fund | 8.1 |  |
| Total Investments | 8.1 |  |
| Other Assets in Excess of Liabilities | 91.9 |  |
| Net Assets | 100.0 | % |

---

\*\* Less than 0.05%.

Affiliated holdings are investments or an affiliate of the Trust. Transactions with affiliated companies during the period ended September 30, 2025 were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Holding Name** | **Value at<br> 6/30/2025** | **Purchases/<br> Additions** | **Sales/<br> Reductions** | **Change in<br> Unrealized<br> Gain (Loss)** | **Number of<br> Shares at<br> 9/30/2025** | **Value at<br> 9/30/2025** | **Dividend<br> Income** |
| AdvisorShares Pure US Cannabis ETF | $– $| 368 | $– $– $| 111 | 100 | $479 | $– |

---

**ADVISORSHARES MSOS DAILY LEVERAGED ETF**

**(formerly AdvisorShares MSOS 2x Daily ETF)**

**Schedule of Investments (continued)**

September 30, 2025 (Unaudited)

**Total return swap contracts outstanding as of September 30, 2025:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity** | **Annual<br> Financing Rate<br> Paid** | **Payment Frequency** | **Termination<br> Date** | **Notional<br> Amounts** | **Fair<br> Value** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| AdvisorShares Pure US Cannabis ETF | OBFR + 2.00% | Monthly | 9/22/2026 | $77776686 | $77443049 | $(333638) |
| AdvisorShares Pure US Cannabis ETF | OBFR + 3.00% | Monthly | 11/20/2026 | 32369057 | 32369057 | – |
| **Net Unrealized Depreciation** |  |  |  |  |  | $(333638) |

---

Clear Street and Nomura act as the counterparties to the total return swap contracts listed above. The Fund either receives fees from, or pays fees to, the counterparty, depending upon the total return of the benchmark, and the agreed-upon floating financing rate. As of September 30, 2025, cash in the amount of $70,305,484 has been segregated as collateral from the broker for swap contracts.

## 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 MSOS Daily Leveraged ETF

- **b. EDGAR series identifier (if any):** S000077183

- **c. LEI of Series:** 549300HY3JHT4NOILR67

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $77451133.87

**Total Liabilities:** $21761436.79

**Net Assets:** $55689697.08

**Cash Not Reported:** $72765483.78

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237353 | 25.25%               | 224.62%              | -33.24%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $188.50                                    |
| Month 3  | $0.00                    | $-78.00                                    |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COWEN INC.                         | TRS ADVISORSHARES PURE US CANNABIS ETF | CUSIP: 000000000<br>LEI: 5493008QI0EFC5WBED75 | N/A              | DE               | CORP              | US        |         1 | NC      | $-3281757.50  | -5.89%            |  |  |  | No            |                  2 | On Loan: No      |
| AdvisorShares Pure US Cannabis ETF | AdvisorShares Pure US Cannabis ETF     | CUSIP: 00768Y453<br>LEI: 549300U1LLTOEUUI7S22 | Long             | EC               | RF                | US        |       100 | NS      | $479.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK TREASURY TRUST           | BLACKROCK TREASURY TRUST               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4492326 | NS      | $4492326.25   | 8.07%             |  |  |  | No            |                  1 | On Loan: No      |
| COWEN INC.                         | TRS ADVISORSHARES PURE US CANNABIS ETF | CUSIP: 000000000<br>LEI: 5493008QI0EFC5WBED75 | N/A              | DE               | CORP              | US        |         1 | NC      | $-9562695.36  | -17.17%           |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-22

**Name of Applicant:** AdvisorShares Trust

**Signature:** Dan Ahrens

**Name of Signer:** Dan Ahrens

**Title:** Secretary and Treasurer