# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-020575
**Filing Date:** 2026-5
**Character Count:** 16085
**Document Hash:** 7883c54b0a94a77132e0d4f3ff8b1cf1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020575.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020575

**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:** 261007820

**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 Vice ETF (Series ID: S000059263)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000194564 | AdvisorShares Vice ETF | VICE            |

## Nport-Ex

**ADVISORSHARES VICE ETF**

**Schedule of Investments**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS – 91.6%** |  |  |
| **Agriculture – 17.1%** |  |  |
| Altria Group, Inc. | 4996 | $329686 |
| British American Tobacco PLC (United Kingdom)<sup>(a)</sup> | 5725 | 334741 |
| Imperial Brands PLC (United Kingdom)<sup>(a)(b)</sup> | 4698 | 192007 |
| Philip Morris International, Inc. | 2026 | 334979 |
| Total Agriculture |  | 1191413 |
| **Beverages – 18.5%** |  |  |
| Ambev SA (Brazil)<sup>(a)(b)</sup> | 117000 | 341640 |
| Carlsberg A/S, Class B (Denmark)<sup>(a)</sup> | 12000 | 301800 |
| Heineken NV (Netherlands)<sup>(a)</sup> | 8600 | 330928 |
| Monster Beverage Corp.<sup>(c)</sup> | 4400 | 318824 |
| Total Beverages |  | 1293192 |
| **Energy - Alternate Sources – 6.9%** |  |  |
| Alto Ingredients, Inc.<sup>(c)</sup> | 100000 | 484000 |
| **Entertainment – 14.4%** |  |  |
| Accel Entertainment, Inc.<sup>(c)</sup> | 29306 | 319729 |
| Monarch Casino & Resort, Inc. | 3664 | 350278 |
| Super Group SGHC Ltd. (Guernsey)<sup>(b)</sup> | 31000 | 334800 |
| Total Entertainment |  | 1004807 |
| **Food – 4.8%** |  |  |
| Hershey Co. (The) | 1600 | 332624 |
| **Internet – 3.6%** |  |  |
| Bilibili, Inc. (China)<sup>(a)(b)(c)</sup> | 11018 | 248566 |
| **Lodging – 3.4%** |  |  |
| Melco Resorts & Entertainment Ltd. (Hong Kong)<sup>(a)(c)</sup> | 41433 | 235340 |
| **REITS – 8.7%** |  |  |
| Gaming and Leisure Properties, Inc. | 7300 | 323901 |
| VICI Properties, Inc. | 10329 | 282188 |
| Total REITS |  | 606089 |
| **Retail – 4.1%** |  |  |
| Yum China Holdings, Inc. (China) | 5800 | 282924 |
| **Semiconductors – 4.5%** |  |  |
| NVIDIA Corp. | 1800 | 313920 |
| **Software – 5.6%** |  |  |
| GDEV, Inc. (Cyprus)<sup>(c)</sup> | 13238 | 185729 |
| NetEase, Inc. (China)<sup>(a)</sup> | 1847 | 206753 |
| Total Software |  | 392482 |
| **Total Common Stocks<br> (Cost $6,091,924)** |  | 6385357 |
| **MONEY MARKET FUNDS – 14.6%** |  |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 3.56%<sup>(d)</sup> | 271857 | 271857 |
| Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 3.29%<sup>(d)(e)</sup> | 743368 | 743368 |
| **Total Money Market Funds<br> (Cost $1,015,225)** |  | 1015225 |
| Total Investments – 106.2%<br> (Cost $7,107,149) |  | 7400582 |
| Liabilities in Excess of Other Assets – (6.2%) |  | (431124) |
| **Net Assets – 100.0%** |  | $**6969458** |

---

PLC - Public Limited Company

REITS - Real Estate Investment Trusts

(a) American Depositary Receipt.

(b) All or a portion of security is on loan. The aggregate market value of the securities on loan is $2,528,207; the aggregate market value of the collateral held by the fund is $1,792,825. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $1,049,456.

(c) Non-income producing security.

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

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

**ADVISORSHARES VICE ETF**

**Schedule of Investments (continued)**

March 31, 2026 (Unaudited)

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

**Fair Value Measurements**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks | $6385357 | $– | $– | $6385357 |
| Money Market Funds | 1015225 | – | – | 1015225 |
| Total | $7400582 | $– | $– | $7400582 |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Agriculture | 17.1% |
| Beverages | 18.5 |
| Energy - Alternate Sources | 6.9 |
| Entertainment | 14.4 |
| Food | 4.8 |
| Internet | 3.6 |
| Lodging | 3.4 |
| REITS | 8.7 |
| Retail | 4.1 |
| Semiconductors | 4.5 |
| Software | 5.6 |
| Money Market Funds | 14.6 |
| Total Investments | 106.2 |
| Liabilities in Excess of Other Assets | (6.2) |
| 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 Vice ETF

- **b. EDGAR series identifier (if any):** S000059263

- **c. LEI of Series:** 5493007Q9G201B621B10

**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:** $7754344.50

**Total Liabilities:** $784886.82

**Net Assets:** $6969457.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000194564 | 1.60%                | 0.69%                | -2.85%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-21061.77               | $132885.74                                 |
| Month 2  | $24885.42                | $18247.72                                  |
| Month 3  | $-69423.55               | $-169437.44                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Accel Entertainment Inc           | Accel Entertainment Inc COM CL A1          | CUSIP: 00436Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29306 | NS      | $319728.46    | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SUPER GROUP (SGHC) LTD            | Super Group Sghc Limited ORD SHS           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |     31000 | NS      | $334800.00    | 4.80%             |  |  |  | No            |                  1 | On Loan: —       |
| BILIBILI INC                      | Bilibili Inc. SPONS ADS REP Z              | CUSIP: 090040106<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | KY        |     11018 | NS      | $248566.08    | 3.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Alto Ingredients Inc.             | Alto Ingredients Inc. COM                  | CUSIP: 021513106<br>LEI: 549300TI77MKE21DLE34 | Long             | EC               | CORP              | US        |    100000 | NS      | $484000.00    | 6.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.  | Philip Morris International Inc. COM       | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      2026 | NS      | $334978.84    | 4.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlsberg A/S                     | Carlsberg A/S SPONSORED ADR                | CUSIP: 142795202<br>LEI: 5299001O0WJQYB5GYZ19 | Long             | EC               | CORP              | DK        |     12000 | NS      | $301800.00    | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev S.A.                        | Ambev S.A. SPONSORED ADR                   | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |    117000 | NS      | $341640.00    | 4.90%             |  |  |  | No            |                  1 | On Loan: —       |
| BLACKROCK TREASURY TRUST          | BLACKROCK TREASURY TRUST                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    271857 | NS      | $271857.06    | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NETEASE INC                       | NetEase Inc. SPONSORED ADS                 | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |      1847 | NS      | $206753.18    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC      | British American Tobacco PLC SPONSORED ADR | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |      5725 | NS      | $334740.75    | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc | Gaming and Leisure Properties Inc COM      | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |      7300 | NS      | $323901.00    | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| GDEV Inc                          | GDEV Inc ORD SHS NEW                       | CUSIP: 000000000<br>LEI: 213800OKTM2TYAIDVH39 | Long             | EC               | CORP              | VG        |     13238 | NS      | $185729.14    | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                | Altria Group, Inc. COM                     | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      4996 | NS      | $329686.04    | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM CHINA HOLDINGS INC            | Yum China Holdings Inc. COM                | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |      5800 | NS      | $282924.00    | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken N.V.                     | Heineken N.V. SPONSORED ADR L1             | CUSIP: 423012301<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |      8600 | NS      | $330928.00    | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc       | Monarch Casino & Resort Inc COM            | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      3664 | NS      | $350278.40    | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc               | Vici Properties Inc COM                    | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     10329 | NS      | $282188.28    | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co. (The)                 | Hershey Co. (The) COM                      | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      1600 | NS      | $332624.00    | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC               | Imperial Brands PLC SPON ADR               | CUSIP: 45262P102<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |      4698 | NS      | $192007.26    | 2.75%             |  |  |  | No            |                  1 | On Loan: —       |
| NVIDIA Corp.                      | NVIDIA Corp. COM                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      1800 | NS      | $313920.00    | 4.50%             |  |  |  | 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        |    743368 | NS      | $743367.72    | 10.67%            |  |  |  | No            |                  2 | On Loan: No      |
| Monster Beverage Corp             | Monster Beverage Corp COM                  | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      4400 | NS      | $318824.00    | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MELCO RESORTS & ENTERTAINMENT LTD | Melco Resorts & Entertainment Ltd. ADR     | CUSIP: 585464100<br>LEI: 529900NRV6LBR3T6B421 | Long             | EC               | CORP              | KY        |     41433 | NS      | $235339.44    | 3.38%             |  |  |  | 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