# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0001752724-23-035089
**Filing Date:** 2023-2
**Character Count:** 37072
**Document Hash:** e648500d888fa4ec30c546a2a58f48bc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-035089.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-035089

**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:** 23657109

**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 Alpha DNA Equity Sentiment ETF (Series ID: S000070646)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000224385 | AdvisorShares Alpha DNA Equity Sentiment ETF | SENT            |

## 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 Alpha DNA Equity Sentiment ETF

- **b. EDGAR series identifier (if any):** S000070646

- **c. LEI of Series:** 549300LURHUYSIBJKL37

**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:** $45916274.52

**Total Liabilities:** $1382613.70

**Net Assets:** $44533660.82

**Cash Not Reported:** $32700.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224385 | 8.77%                | 1.29%                | -5.05%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $528272.64               | $5038742.61                                |
| Month 2  | $1848372.10              | $-479914.42                                |
| Month 3  | $248625.67               | $-3057289.05                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Monday.com Ltd                     | Monday.com Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      3975 | NS      | $484950.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co          | Performance Food Group Co          | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      7503 | NS      | $438100.17    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA      | Preferred Bank/Los Angeles CA      | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |      5912 | NS      | $441153.44    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc                 | United Rentals Inc                 | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1242 | NS      | $441431.64    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.       | RBC DOMINION SECURITIES INC        | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | Long             | RA               | CORP              | US        |    299598 | PA      | $299598.00    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Cullen/Frost Bankers Inc           | Cullen/Frost Bankers Inc           | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      3391 | NS      | $453376.70    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc          | International Seaways Inc          | CUSIP: 000000000<br>LEI: 549300YUFDGFRNGBWF46 | Long             | EC               | CORP              | US        |     11785 | NS      | $436280.70    | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| NEW YORK STOCK EXCHANGE            | SPDR S&P 500 ETF TRUST             | CUSIP: 000000000<br>LEI: 549300HIIRNTNKXV3M12 | N/A              | DE               | CORP              | US        |       419 | NC      | $346303.50    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc             | Roper Technologies Inc             | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      1029 | NS      | $444620.61    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                        | Samsara Inc                        | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37913 | NS      | $471258.59    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc        | American Airlines Group Inc        | CUSIP: 02376R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35495 | NS      | $451496.40    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp            | First Financial Bancorp            | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     18303 | NS      | $443481.69    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                     | Five Below Inc                     | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      2494 | NS      | $441113.78    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc         | Vertex Pharmaceuticals Inc         | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1553 | NS      | $448475.34    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Discover Financial Services        | Discover Financial Services        | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |      4607 | NS      | $450702.81    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Westamerica BanCorp                | Westamerica BanCorp                | CUSIP: 957090103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7575 | NS      | $447000.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc            | Cboe Global Markets Inc            | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      3543 | NS      | $444540.21    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc           | Patterson-UTI Energy Inc           | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     26482 | NS      | $445956.88    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                        | Zscaler Inc                        | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      4144 | NS      | $463713.60    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc           | Microchip Technology Inc           | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      6334 | NS      | $444963.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC Inc                            | RPC Inc                            | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50572 | NS      | $449585.08    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In     | Installed Building Products Inc    | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      5137 | NS      | $439727.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Sixth Street Specialty Lending     | Sixth Street Specialty Lending Inc | CUSIP: 83012A109<br>LEI: 549300TX61566GJWCN05 | Long             | EC               | CORP              | US        |     25174 | NS      | $448097.20    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank Securities Inc.      | DEUTSCHE BANK SEC INC              | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Long             | RA               | CORP              | US        |    299598 | PA      | $299598.00    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.      | CITIGROUP GLOBAL MARKETS INC       | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |    299598 | PA      | $299598.00    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                | Gilead Sciences Inc                | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5243 | NS      | $450111.55    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsakos Energy Navigation Ltd       | Tsakos Energy Navigation Ltd       | CUSIP: 000000000<br>LEI: 549300IFUTS62LRRCU54 | Long             | EC               | CORP              | GR        |     25806 | NS      | $436895.58    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                    | Caterpillar Inc                    | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1833 | NS      | $439113.48    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp            | Wintrust Financial Corp            | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      5348 | NS      | $452012.96    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                         | Rambus Inc                         | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     12359 | NS      | $442699.38    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                    | Ulta Beauty Inc                    | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |       962 | NS      | $451245.34    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                         | PACCAR Inc                         | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      4438 | NS      | $439228.86    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp             | Regions Financial Corp             | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |     20942 | NS      | $451509.52    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alteryx Inc                        | Alteryx Inc                        | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Long             | EC               | CORP              | US        |      9339 | NS      | $473207.13    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MRC Global Inc                     | MRC Global Inc                     | CUSIP: 55345K103<br>LEI: 529900TSBPOLCLI2L582 | Long             | EC               | CORP              | US        |     38140 | NS      | $441661.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                           | Bank OZK                           | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     11118 | NS      | $445387.08    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Stock Yards Bancorp Inc            | Stock Yards Bancorp Inc            | CUSIP: 861025104<br>LEI: 549300YERP9H5TDIQW16 | Long             | EC               | CORP              | US        |      6944 | NS      | $451221.12    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp                  | Hyatt Hotels Corp                  | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |      4937 | NS      | $446551.65    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp               | Hancock Whitney Corp               | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |      9233 | NS      | $446784.87    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                | Arista Networks Inc                | CUSIP: 040413106<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      3743 | NS      | $454213.05    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc     | Advanced Energy Industries Inc     | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      5323 | NS      | $456606.94    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HashiCorp Inc                      | HashiCorp Inc                      | CUSIP: 418100103<br>LEI: 549300XGOB9ZFQHMIP56 | Long             | EC               | CORP              | US        |     17038 | NS      | $465818.92    | 1.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Delta Air Lines Inc                | Delta Air Lines Inc                | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     13798 | NS      | $453402.28    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                       | Fortinet Inc                       | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      9038 | NS      | $441867.82    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                | Texas Roadhouse Inc                | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      4777 | NS      | $434468.15    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Financial Corp/WA         | Heritage Financial Corp/WA         | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14508 | NS      | $444525.12    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabors Industries Ltd              | Nabors Industries Ltd              | CUSIP: 000000000<br>LEI: 5493008TXYN3II3PU369 | Long             | EC               | CORP              | US        |      2874 | NS      | $445096.38    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Financial Corp            | Lakeland Financial Corp            | CUSIP: 511656100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6108 | NS      | $445700.76    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc              | Lantheus Holdings Inc              | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      9051 | NS      | $461238.96    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc       | United Airlines Holdings Inc       | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     11616 | NS      | $437923.20    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co                  | Tractor Supply Co                  | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |      2001 | NS      | $450164.97    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp               | Parker-Hannifin Corp               | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      1521 | NS      | $442611.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The           | Chefs' Warehouse Inc/The           | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     13037 | NS      | $433871.36    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Capital Corp                  | Ares Capital Corp                  | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | EC               | CORP              | US        |     23895 | NS      | $441340.65    | 0.99%             |  |  |  | No            |                  1 | On Loan: —       |
| NEW YORK STOCK EXCHANGE            | ISHARES RUSSELL 2000 ETF           | CUSIP: 000000000<br>LEI: 549300HIIRNTNKXV3M12 | N/A              | DE               | CORP              | US        |      1620 | NC      | $771930.00    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/T     | Bank of New York Mellon Corp/The   | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      9961 | NS      | $453424.72    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co              | Southwest Airlines Co              | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     13133 | NS      | $442188.11    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc                 | Enphase Energy Inc                 | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1600 | NS      | $423936.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management | CUSIP: 000000000<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |       519 | NS      | $519.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                | Synchrony Financial                | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     13691 | NS      | $449886.26    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH       | Huntington Bancshares Inc/OH       | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     31329 | NS      | $441738.90    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BOK Financial Corp                 | BOK Financial Corp                 | CUSIP: 05561Q201<br>LEI: GRI2NT5QHYW751NMR949 | Long             | EC               | CORP              | US        |      4291 | NS      | $445362.89    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc              | Applied Materials Inc              | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      4642 | NS      | $452037.96    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fate Therapeutics Inc              | Fate Therapeutics Inc              | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               | CORP              | US        |     44175 | NS      | $445725.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                  | Lam Research Corp                  | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1093 | NS      | $459387.90    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.              | BOFA SECURITIES INC                | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Long             | RA               | CORP              | US        |    299598 | PA      | $299598.00    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Bill.com Holdings Inc              | Bill.com Holdings Inc              | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |      4369 | NS      | $476046.24    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                         | AMETEK Inc                         | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      3182 | NS      | $444589.04    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                        | Banner Corp                        | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6999 | NS      | $442336.80    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIWA CAPITAL MARKETS AMERICA INC. | DAIWA CAPITAL MARKETS AMERICA      | CUSIP: 000000000<br>LEI: M67H5PRC0NQKM73ZAS82 | Long             | RA               | CORP              | US        |     67994 | PA      | $67994.00     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Confluent Inc                      | Confluent Inc                      | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |     20896 | NS      | $464727.04    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NOW Inc                            | NOW Inc                            | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     34585 | NS      | $439229.50    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Intra-Cellular Therapies Inc       | Intra-Cellular Therapies Inc       | CUSIP: 46116X101<br>LEI: 5299002U2KGF193IJA20 | Long             | EC               | CORP              | US        |      9082 | NS      | $480619.44    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualtrics International Inc        | Qualtrics International Inc        | CUSIP: 747601201<br>LEI: 549300NW34K5PVZGTN68 | Long             | EC               | CORP              | US        |     44775 | NS      | $464764.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co      | Hewlett Packard Enterprise Co      | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     28050 | NS      | $447678.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hercules Capital Inc               | Hercules Capital Inc               | CUSIP: 427096508<br>LEI: 549300UJ5OC256GR2B73 | Long             | EC               | CORP              | US        |     33679 | NS      | $445236.38    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners In     | Pinnacle Financial Partners Inc    | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |      6065 | NS      | $445171.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc              | Helmerich & Payne Inc              | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |      9119 | NS      | $452028.83    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass Inc                      | O-I Glass Inc                      | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26294 | NS      | $435691.58    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp             | Paylocity Holding Corp             | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      2357 | NS      | $457870.82    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC                 | nVent Electric PLC                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     11596 | NS      | $446098.12    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc         | Neurocrine Biosciences Inc         | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      3748 | NS      | $447661.12    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hibbett Inc                        | Hibbett Inc                        | CUSIP: 428567101<br>LEI: 529900RD6P643J1CZM55 | Long             | EC               | CORP              | US        |      6606 | NS      | $450661.32    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                        | Nutanix Inc                        | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |     17653 | NS      | $459860.65    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares Inc           | Northwest Bancshares Inc           | CUSIP: 667340103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31426 | NS      | $439335.48    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                        | Hubbell Inc                        | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      1888 | NS      | $443075.84    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                        | OFG Bancorp                        | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     16512 | NS      | $455070.72    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY INSTL MMKT GOVT           | FIDELITY INSTL MMKT GOVT           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    364974 | NS      | $364973.57    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                          | Calix Inc                          | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      6661 | NS      | $455812.23    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc                | Titan Machinery Inc                | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     11093 | NS      | $440724.89    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Main Street Capital Corp           | Main Street Capital Corp           | CUSIP: 56035L104<br>LEI: 5493001FS9QJLJNF3E20 | Long             | EC               | CORP              | US        |     12143 | NS      | $448683.85    | 1.01%             |  |  |  | No            |                  1 | On Loan: —       |
| JPMorgan Chase & Co                | JPMorgan Chase & Co                | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      3384 | NS      | $453794.40    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritex Holdings Inc               | Veritex Holdings Inc               | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |     15679 | NS      | $440266.32    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| WW Grainger Inc                    | WW Grainger Inc                    | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       791 | NS      | $439993.75    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc           | Procore Technologies Inc           | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |      9535 | NS      | $449861.30    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp               | Associated Banc-Corp               | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     19507 | NS      | $450416.63    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Ltd                   | Schlumberger Ltd                   | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      8322 | NS      | $444894.12    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp               | Wabash National Corp               | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     19017 | NS      | $429784.20    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International     | Johnson Controls International plc | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |      6938 | NS      | $444032.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Everbridge Inc                     | Everbridge Inc                     | CUSIP: 29978A104<br>LEI: 549300WCY0UMR64ATW81 | Long             | EC               | CORP              | US        |     16198 | NS      | $479136.84    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Splunk Inc                         | Splunk Inc                         | CUSIP: 848637104<br>LEI: 549300XGDSGBP6UEI867 | Long             | EC               | CORP              | US        |      5296 | NS      | $455932.64    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                       | AutoZone Inc                       | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       181 | NS      | $446378.58    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare Inc       | Cross Country Healthcare Inc       | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     16621 | NS      | $441619.97    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp                     | Trustmark Corp                     | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |     12951 | NS      | $452119.41    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN            | Old National Bancorp/IN            | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     25250 | NS      | $453995.00    | 1.02%             |  |  |  | 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