# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0001752724-25-203057
**Filing Date:** 2025-8
**Character Count:** 37186
**Document Hash:** 99185bcc34eae2f88444ffd9a8834189
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203057.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-203057

**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:** 251251819

**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:** 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:** $27642196.50

**Total Liabilities:** $15128154.74

**Net Assets:** $12514041.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201033 | 9.21%                | -4.13%               | -5.73%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $379384.57               | $636422.57                                 |
| Month 2  | $-283432.47              | $-352599.46                                |
| Month 3  | $22815.48                | $-780855.35                                |

**Designated Index Information**

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

- **Index Identifier:** 500

### Schedule of Portfolio Investments

| Name                                  | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lennar Corp                           | Lennar Corp                                  | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Short            | EC               | CORP              | US        |     -1010 | NS      | $-111716.10   | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC         | Weatherford International PLC                | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Short            | EC               | CORP              | US        |     -2618 | NS      | $-131711.58   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                            | Humana Inc                                   | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Short            | EC               | CORP              | US        |      -526 | NS      | $-128596.48   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                 | ON Semiconductor Corp                        | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Short            | EC               | CORP              | US        |     -2430 | NS      | $-127356.30   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories Int        | Charles River Laboratories International Inc | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Short            | EC               | CORP              | US        |     -1041 | NS      | $-157950.93   | -1.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                           | Target Corp                                  | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Short            | EC               | CORP              | US        |     -1115 | NS      | $-109994.75   | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings Inc                | Sirius XM Holdings Inc                       | CUSIP: 829933100<br>LEI: 54930055RWDMVXAGZK98 | Short            | EC               | CORP              | US        |     -5013 | NS      | $-115148.61   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp             | Occidental Petroleum Corp                    | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Short            | EC               | CORP              | US        |     -2436 | NS      | $-102336.36   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp                   | Peabody Energy Corp                          | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Short            | EC               | CORP              | US        |    -10227 | NS      | $-137246.34   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                  | Edison International                         | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Short            | EC               | CORP              | US        |     -2060 | NS      | $-106296.00   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                       | Murphy Oil Corp                              | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Short            | EC               | CORP              | US        |     -5474 | NS      | $-123165.00   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                            | Nucor Corp                                   | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Short            | EC               | CORP              | US        |      -992 | NS      | $-128503.68   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc         | Old Dominion Freight Line Inc                | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Short            | EC               | CORP              | US        |      -760 | NS      | $-123348.00   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                         | Teradata Corp                                | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Short            | EC               | CORP              | US        |     -5457 | NS      | $-121745.67   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                        | Ziff Davis Inc                               | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Short            | EC               | CORP              | US        |     -3795 | NS      | $-114874.65   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV          | LyondellBasell Industries NV                 | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Short            | EC               | CORP              | US        |     -1700 | NS      | $-98362.00    | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                         | Westlake Corp                                | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Short            | EC               | CORP              | US        |     -1094 | NS      | $-83067.42    | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                | Marvell Technology Inc                       | CUSIP: 573874104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1940 | NS      | $-150156.00   | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                       | First Solar Inc                              | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Short            | EC               | CORP              | US        |      -956 | NS      | $-158256.24   | -1.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc            | Advanced Micro Devices Inc                   | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Short            | EC               | CORP              | US        |     -1142 | NS      | $-162049.80   | -1.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc                 | Helmerich & Payne Inc                        | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Short            | EC               | CORP              | US        |     -5470 | NS      | $-82925.20    | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA Inc                   | DENTSPLY SIRONA Inc                          | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Short            | EC               | CORP              | US        |     -7096 | NS      | $-112684.48   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services I        | West Pharmaceutical Services Inc             | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Short            | EC               | CORP              | US        |      -515 | NS      | $-112682.00   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                      | HF Sinclair Corp                             | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Short            | EC               | CORP              | US        |     -2919 | NS      | $-119912.52   | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                           | Bruker Corp                                  | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Short            | EC               | CORP              | US        |     -3200 | NS      | $-131840.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc                   | Leggett & Platt Inc                          | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Short            | EC               | CORP              | US        |    -13538 | NS      | $-120758.96   | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc              | Constellation Brands Inc                     | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |      -690 | NS      | $-112249.20   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                | Skyworks Solutions Inc                       | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Short            | EC               | CORP              | US        |     -1542 | NS      | $-114909.84   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                              | ASGN Inc                                     | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Short            | EC               | CORP              | US        |     -1790 | NS      | $-89374.70    | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp                    | IPG Photonics Corp                           | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Short            | EC               | CORP              | US        |     -1473 | NS      | $-101121.45   | -0.81%            |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc             | United Parcel Service Inc                    | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Short            | EC               | CORP              | US        |     -1166 | NS      | $-117696.04   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                           | Cognex Corp                                  | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Short            | EC               | CORP              | US        |     -3445 | NS      | $-109275.40   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc                   | Harley-Davidson Inc                          | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Short            | EC               | CORP              | US        |     -4952 | NS      | $-116867.20   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| JELD-WEN Holding Inc                  | JELD-WEN Holding Inc                         | CUSIP: 47580P103<br>LEI: 529900AXX7CT9GZSCS30 | Short            | EC               | CORP              | US        |    -33150 | NS      | $-129948.00   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc        | Fortune Brands Innovations Inc               | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Short            | EC               | CORP              | US        |     -2420 | NS      | $-124581.60   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                          | Teradyne Inc                                 | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Short            | EC               | CORP              | US        |     -1470 | NS      | $-132182.40   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                        | Albemarle Corp                               | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |     -1541 | NS      | $-96574.47    | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc         | Hudson Pacific Properties Inc                | CUSIP: 444097109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -60329 | NS      | $-165301.46   | -1.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                     | Brunswick Corp/DE                            | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Short            | EC               | CORP              | US        |     -2205 | NS      | $-121804.20   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Integra LifeSciences Holdings         | Integra LifeSciences Holdings Corp           | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Short            | EC               | CORP              | US        |    -10228 | NS      | $-125497.56   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                              | PVH Corp                                     | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Short            | EC               | CORP              | US        |     -1895 | NS      | $-129997.00   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                           | Polaris Inc                                  | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Short            | EC               | CORP              | US        |     -3203 | NS      | $-130201.95   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc              | Patterson-UTI Energy Inc                     | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Short            | EC               | CORP              | US        |    -17780 | NS      | $-105435.40   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                  | Align Technology Inc                         | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Short            | EC               | CORP              | US        |      -591 | NS      | $-111894.03   | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                              | NIKE Inc                                     | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Short            | EC               | CORP              | US        |     -1863 | NS      | $-132347.52   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Viasat Inc                            | Viasat Inc                                   | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Short            | EC               | CORP              | US        |    -19265 | NS      | $-281269.00   | -2.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd                        | Transocean Ltd                               | CUSIP: 000000000<br>LEI: 529900QO4W5DQGBGEF32 | Short            | EC               | CORP              | CH        |    -47383 | NS      | $-122721.97   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc              | Sarepta Therapeutics Inc                     | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Short            | EC               | CORP              | US        |     -5980 | NS      | $-102258.00   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc                       | Robert Half Inc                              | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Short            | EC               | CORP              | US        |     -2610 | NS      | $-107140.50   | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc         | Regeneron Pharmaceuticals Inc                | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Short            | EC               | CORP              | US        |      -173 | NS      | $-90825.00    | -0.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                           | Gentex Corp                                  | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Short            | EC               | CORP              | US        |     -5100 | NS      | $-112149.00   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding P        | Sensata Technologies Holding PLC             | CUSIP: 000000000<br>LEI: 529900MS7KFYCY9MS037 | Short            | EC               | CORP              | US        |     -4767 | NS      | $-143534.37   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp                     | Brown-Forman Corp                            | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |     -3449 | NS      | $-92812.59    | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc            | Floor & Decor Holdings Inc                   | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -1600 | NS      | $-121536.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                       | Chemours Co/The                              | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Short            | EC               | CORP              | US        |     -7915 | NS      | $-90626.75    | -0.72%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                       | Bio-Techne Corp                              | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Short            | EC               | CORP              | US        |     -2220 | NS      | $-114219.00   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos Inc/The              | Estee Lauder Cos Inc/The                     | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Short            | EC               | CORP              | US        |     -2163 | NS      | $-174770.40   | -1.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                             | Qorvo Inc                                    | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Short            | EC               | CORP              | US        |     -2020 | NS      | $-171518.20   | -1.37%            |  |  |  | No            |                  1 | On Loan: No      |
| VF Corp                               | VF Corp                                      | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Short            | EC               | CORP              | US        |     -9260 | NS      | $-108805.00   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                          | Entegris Inc                                 | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Short            | EC               | CORP              | US        |     -1600 | NS      | $-129040.00   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                    | IQVIA Holdings Inc                           | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Short            | EC               | CORP              | US        |      -780 | NS      | $-122920.20   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc              | Bio-Rad Laboratories Inc                     | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Short            | EC               | CORP              | US        |      -510 | NS      | $-123073.20   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp                           | Enovis Corp                                  | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Short            | EC               | CORP              | US        |     -2955 | NS      | $-92668.80    | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                            | Intel Corp                                   | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Short            | EC               | CORP              | US        |     -6497 | NS      | $-145532.80   | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                           | Ashland Inc                                  | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Short            | EC               | CORP              | US        |     -1742 | NS      | $-87587.76    | -0.70%            |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                               | WEX Inc                                      | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Short            | EC               | CORP              | US        |      -860 | NS      | $-126325.40   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                     | Devon Energy Corp                            | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Short            | EC               | CORP              | US        |     -3435 | NS      | $-109267.35   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp                   | Xerox Holdings Corp                          | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Short            | EC               | CORP              | US        |    -19976 | NS      | $-105273.52   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie        | Alexandria Real Estate Equities Inc          | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Short            | EC               | CORP              | US        |     -1275 | NS      | $-92603.25    | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises Inc               | Nu Skin Enterprises Inc                      | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Short            | EC               | CORP              | US        |    -21996 | NS      | $-175748.04   | -1.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust              | Service Properties Trust                     | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Short            | EC               | CORP              | US        |    -53205 | NS      | $-127159.95   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                          | Teleflex Inc                                 | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Short            | EC               | CORP              | US        |      -712 | NS      | $-84272.32    | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                            | Adient PLC                                   | CUSIP: 000000000<br>LEI: 5493002QLDY8O75RTR78 | Short            | EC               | CORP              | US        |     -7759 | NS      | $-150990.14   | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                             | Lear Corp                                    | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Short            | EC               | CORP              | US        |     -1174 | NS      | $-111506.52   | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio | Invesco Government & Agency Portfolio        | CUSIP: 000000000<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |  27582802 | NS      | $27582801.85  | 220.41%           |  |  |  | No            |                  1 | On Loan: No      |
| Cable One Inc                         | Cable One Inc                                | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Short            | EC               | CORP              | US        |      -736 | NS      | $-99956.16    | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                              | APA Corp                                     | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Short            | EC               | CORP              | US        |     -6257 | NS      | $-114440.53   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                            | Biogen Inc                                   | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Short            | EC               | CORP              | US        |      -801 | NS      | $-100597.59   | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc            | Stanley Black & Decker Inc                   | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |     -1860 | NS      | $-126015.00   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corp                         | Celanese Corp                                | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Short            | EC               | CORP              | US        |     -2040 | NS      | $-112873.20   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp                           | Kohl's Corp                                  | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Short            | EC               | CORP              | US        |    -15066 | NS      | $-127759.68   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| NCR Voyix Corp                        | NCR Voyix Corp                               | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Short            | EC               | CORP              | US        |    -13180 | NS      | $-154601.40   | -1.24%            |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                               | MKS Inc                                      | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Short            | EC               | CORP              | US        |     -1620 | NS      | $-160963.20   | -1.29%            |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                               | NOV Inc                                      | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Short            | EC               | CORP              | US        |     -8244 | NS      | $-102472.92   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                           | Wayfair Inc                                  | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Short            | EC               | CORP              | US        |     -3098 | NS      | $-158431.72   | -1.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Agios Pharmaceuticals Inc             | Agios Pharmaceuticals Inc                    | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Short            | EC               | CORP              | US        |     -4165 | NS      | $-138527.90   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp/The                          | AES Corp/The                                 | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Short            | EC               | CORP              | US        |     -9808 | NS      | $-103180.16   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                              | Snap Inc                                     | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Short            | EC               | CORP              | US        |    -13620 | NS      | $-118357.80   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                             | Olin Corp                                    | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Short            | EC               | CORP              | US        |     -4987 | NS      | $-100188.83   | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                         | Huntsman Corp                                | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Short            | EC               | CORP              | US        |     -7944 | NS      | $-82776.48    | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Cimpress PLC                          | Cimpress PLC                                 | CUSIP: 000000000<br>LEI: 549300X1IFD75XISOR81 | Short            | EC               | CORP              | IE        |     -2760 | NS      | $-129720.00   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                        | Halliburton Co                               | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Short            | EC               | CORP              | US        |     -4611 | NS      | $-93972.18    | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co/The                        | Wendy's Co/The                               | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Short            | EC               | CORP              | US        |    -10150 | NS      | $-115913.00   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp                              | FMC Corp                                     | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Short            | EC               | CORP              | US        |     -2013 | NS      | $-84042.75    | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                          | Illumina Inc                                 | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Short            | EC               | CORP              | US        |     -1470 | NS      | $-140252.70   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                          | Carter's Inc                                 | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Short            | EC               | CORP              | US        |     -3960 | NS      | $-119314.80   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc                     | ManpowerGroup Inc                            | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Short            | EC               | CORP              | US        |     -2356 | NS      | $-95182.40    | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc                              | Coty Inc                                     | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Short            | EC               | CORP              | US        |    -18960 | NS      | $-88164.00    | -0.70%            |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc              | Lamb Weston Holdings Inc                     | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Short            | EC               | CORP              | US        |     -2302 | NS      | $-119358.70   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                   | Global Payments Inc                          | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Short            | EC               | CORP              | US        |     -1570 | NS      | $-125662.80   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Hain Celestial Group Inc/The          | Hain Celestial Group Inc/The                 | CUSIP: 405217100<br>LEI: 5493000S8QXWHLIXDP75 | Short            | EC               | CORP              | US        |    -59820 | NS      | $-90926.40    | -0.73%            |  |  |  | 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