# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-020565
**Filing Date:** 2026-5
**Character Count:** 7815
**Document Hash:** 224cd60662a7781dcb5e63b69992f64a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020565.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020565

**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:** 261007810

**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 FSM US Core ETF (Series ID: S000067384)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000216699 | AdvisorShares Dorsey Wright FSM US Core ETF | DWUS            |

## Nport-Ex

**ADVISORSHARES DORSEY WRIGHT FSM US CORE ETF**

**Schedule of Investments**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **EXCHANGE TRADED FUNDS – 99.5%** |  |  |
| **Equity Fund – 99.5%** |  |  |
| Invesco QQQ Trust Series 1<sup>(a)</sup> | 94181 | $54359389 |
| iShares MSCI USA Quality Factor ETF | 280200 | 53745163 |
| **Total Exchange Traded Funds<br> (Cost $109,926,924)** |  | 108104552 |
| **MONEY MARKET FUNDS – 0.6%** |  |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 3.56%<sup>(b)</sup> | 683539 | 683539 |
| Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 3.29%<sup>(b)(c)</sup> | 8 | 8 |
| **Total Money Market Funds<br> (Cost $683,547)** |  | 683547 |
| Total Investments – 100.1%<br> (Cost $110,610,471) |  | 108788099 |
| Liabilities in Excess of Other Assets – (0.1%) |  | (141408) |
| **Net Assets – 100.0%** |  | $**108646691** |

---

(a) All or a portion of security is on loan. The aggregate market value of the securities on loan is $106,543,965; the aggregate market value of the collateral held by the fund is $105,341,865. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $105,341,857.

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

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

**ADVISORSHARES DORSEY WRIGHT FSM US CORE 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** |
| Exchange Traded Funds | $108104552 | $– | $– | $108104552 |
| Money Market Funds | 683547 | – | – | 683547 |
| Total | $108788099 | $– | $– | $108788099 |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Equity Fund | 99.5% |
| Money Market Funds | 0.6 |
| Total Investments | 100.1 |
| Liabilities in Excess of Other Assets | (0.1) |
| 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 Dorsey Wright FSM US Core ETF

- **b. EDGAR series identifier (if any):** S000067384

- **c. LEI of Series:** 5493001DPU8A1POYN342

**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:** $108792419.37

**Total Liabilities:** $145728.85

**Net Assets:** $108646690.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000216699 | 1.66%                | -1.78%               | -6.07%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $2004894.36                                |
| Month 2  | $70620.03                | $-2115401.49                               |
| Month 3  | $8520659.54              | $-16753667.64                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BLACKROCK TREASURY TRUST    | BLACKROCK TREASURY TRUST                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    683539 | NS      | $683538.79    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1 | Invesco QQQ Trust, Series 1 UNIT SER 1    | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |     94181 | NS      | $54359389.58  | 50.03%            |  |  |  | No            |                  1 | On Loan: —       |
| iShares Trust               | iShares Trust MSCI USA QUALITY FACTOR ETF | CUSIP: 46432F339<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    280200 | NS      | $53745162.00  | 49.47%            |  |  |  | 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