# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-007292
**Filing Date:** 2026-2
**Character Count:** 36286
**Document Hash:** ea38a843cc3bde94768abf1568cd86a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007292.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0000940400-26-007292

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**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:** 26664890

**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:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $23913563.36

**Total Liabilities:** $12413816.92

**Net Assets:** $11499746.44

**Cash Not Reported:** $15385690.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201033 | 2.48%                | -1.34%               | -1.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15843.56                | $253763.72                                 |
| Month 2  | $-265968.06              | $31778.83                                  |
| Month 3  | $-99960.11               | $-82980.67                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Carter's Inc                          | Carter's Inc                           | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Short            | EC               | CORP              | US        |     -4070 | NS      | $-131990.10   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| IFF                                   | International Flavors & Fragrances Inc | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Short            | EC               | CORP              | US        |     -1970 | NS      | $-132758.30   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc              | Sarepta Therapeutics Inc               | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Short            | EC               | CORP              | US        |     -7240 | NS      | $-155804.80   | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc                      | Carlisle Cos Inc                       | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Short            | EC               | CORP              | US        |      -400 | NS      | $-127944.00   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Cable One Inc                         | Cable One Inc                          | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Short            | EC               | CORP              | US        |     -1082 | NS      | $-122103.70   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Campbell's Company/The                | Campbell's Company/The                 | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Short            | EC               | CORP              | US        |     -4070 | NS      | $-113430.90   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                  | Align Technology Inc                   | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Short            | EC               | CORP              | US        |      -886 | NS      | $-138348.90   | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc            | Floor & Decor Holdings Inc             | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -1590 | NS      | $-96815.10    | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                              | Snap Inc                               | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Short            | EC               | CORP              | US        |    -18840 | NS      | $-152038.80   | -1.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc                              | Coty Inc                               | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Short            | EC               | CORP              | US        |    -36740 | NS      | $-113159.20   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                          | Teleflex Inc                           | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Short            | EC               | CORP              | US        |     -1012 | NS      | $-123504.48   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc              | Patterson-UTI Energy Inc               | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Short            | EC               | CORP              | US        |    -22960 | NS      | $-140285.60   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                           | GoDaddy Inc                            | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Short            | EC               | CORP              | US        |      -970 | NS      | $-120357.60   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                    | Conagra Brands Inc                     | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Short            | EC               | CORP              | US        |     -6930 | NS      | $-119958.30   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                            | Dexcom Inc                             | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Short            | EC               | CORP              | US        |     -2120 | NS      | $-140704.40   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International In        | Choice Hotels International Inc        | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Short            | EC               | CORP              | US        |     -1290 | NS      | $-122885.40   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co                     | Erie Indemnity Co                      | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Short            | EC               | CORP              | US        |      -440 | NS      | $-126126.00   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Integra LifeSciences Holdings         | Integra LifeSciences Holdings Corp     | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Short            | EC               | CORP              | US        |     -9778 | NS      | $-121442.76   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                              | ASGN Inc                               | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Short            | EC               | CORP              | US        |     -2340 | NS      | $-112717.80   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                         | Westlake Corp                          | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Short            | EC               | CORP              | US        |     -1544 | NS      | $-114163.36   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corp                         | Celanese Corp                          | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Short            | EC               | CORP              | US        |     -2970 | NS      | $-125571.60   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The         | Goodyear Tire & Rubber Co/The          | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Short            | EC               | CORP              | US        |    -17680 | NS      | $-154876.80   | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV          | LyondellBasell Industries NV           | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Short            | EC               | CORP              | US        |     -2410 | NS      | $-104353.00   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                           | Chemed Corp                            | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Short            | EC               | CORP              | US        |      -288 | NS      | $-123223.68   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                             | Olin Corp                              | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Short            | EC               | CORP              | US        |     -4767 | NS      | $-99296.61    | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co/The                        | Wendy's Co/The                         | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Short            | EC               | CORP              | US        |    -14430 | NS      | $-120201.90   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                          | Centene Corp                           | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Short            | EC               | CORP              | US        |     -4740 | NS      | $-195051.00   | -1.70%            |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co                   | Eastman Chemical Co                    | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Short            | EC               | CORP              | US        |     -1950 | NS      | $-124468.50   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                | UnitedHealth Group Inc                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Short            | EC               | CORP              | US        |      -360 | NS      | $-118839.60   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                   | Kimberly-Clark Corp                    | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Short            | EC               | CORP              | US        |     -1300 | NS      | $-131157.00   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc              | Baxter International Inc               | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |     -5600 | NS      | $-107016.00   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie        | Alexandria Real Estate Equities Inc    | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Short            | EC               | CORP              | US        |     -2295 | NS      | $-112317.30   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc        | Fortune Brands Innovations Inc         | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Short            | EC               | CORP              | US        |     -2360 | NS      | $-118047.20   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                 | Euronet Worldwide Inc                  | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Short            | EC               | CORP              | US        |     -1700 | NS      | $-129387.00   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                     | Brown & Brown Inc                      | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Short            | EC               | CORP              | US        |     -1580 | NS      | $-125926.00   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| National Beverage Corp                | National Beverage Corp                 | CUSIP: 635017106<br>LEI: 549300O9MZIQJI8TGV17 | Short            | EC               | CORP              | US        |     -3860 | NS      | $-123095.40   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings Inc                | Sirius XM Holdings Inc                 | CUSIP: 829933100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4823 | NS      | $-96435.89    | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc              | Constellation Brands Inc               | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |      -895 | NS      | $-123474.20   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc                  | Verisk Analytics Inc                   | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Short            | EC               | CORP              | US        |      -590 | NS      | $-131977.10   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc                 | Bath & Body Works Inc                  | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Short            | EC               | CORP              | US        |     -6720 | NS      | $-134937.60   | -1.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp                     | Brown-Forman Corp                      | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |     -4669 | NS      | $-121674.14   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                            | Zoetis Inc                             | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Short            | EC               | CORP              | US        |     -1020 | NS      | $-128336.40   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                   | Global Payments Inc                    | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Short            | EC               | CORP              | US        |     -1560 | NS      | $-120744.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp                           | Enovis Corp                            | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Short            | EC               | CORP              | US        |     -3995 | NS      | $-106426.80   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| CarMax Inc                            | CarMax Inc                             | CUSIP: 143130102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2960 | NS      | $-114374.40   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc                     | Flowers Foods Inc                      | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Short            | EC               | CORP              | US        |    -10620 | NS      | $-115545.60   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                              | LKQ Corp                               | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Short            | EC               | CORP              | US        |     -3990 | NS      | $-120498.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| JELD-WEN Holding Inc                  | JELD-WEN Holding Inc                   | CUSIP: 47580P103<br>LEI: 529900AXX7CT9GZSCS30 | Short            | EC               | CORP              | US        |    -57450 | NS      | $-141327.00   | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                         | Owens Corning                          | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Short            | EC               | CORP              | US        |     -1150 | NS      | $-128696.50   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                   | Paycom Software Inc                    | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Short            | EC               | CORP              | US        |      -800 | NS      | $-127488.00   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                       | Morningstar Inc                        | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Short            | EC               | CORP              | US        |      -560 | NS      | $-121693.60   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                           | Target Corp                            | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Short            | EC               | CORP              | US        |     -1440 | NS      | $-140760.00   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                           | CDW Corp/DE                            | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Short            | EC               | CORP              | US        |      -850 | NS      | $-115770.00   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                           | Ashland Inc                            | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Short            | EC               | CORP              | US        |     -2402 | NS      | $-140925.34   | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co                | Columbia Sportswear Co                 | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Short            | EC               | CORP              | US        |     -2100 | NS      | $-115689.00   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                             | Pool Corp                              | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Short            | EC               | CORP              | US        |      -550 | NS      | $-125812.50   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio | Invesco Government & Agency Portfolio  | CUSIP: 000000000<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |   8507079 | NS      | $8507079.30   | 73.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                           | Gartner Inc                            | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Short            | EC               | CORP              | US        |      -520 | NS      | $-131185.60   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Sto        | Cracker Barrel Old Country Store Inc   | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Short            | EC               | CORP              | US        |     -4240 | NS      | $-107696.00   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc                     | ManpowerGroup Inc                      | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Short            | EC               | CORP              | US        |     -4436 | NS      | $-131882.28   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co                     | U-Haul Holding Co                      | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Short            | EC               | CORP              | US        |     -2230 | NS      | $-112414.30   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide C        | Marriott Vacations Worldwide Corp      | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Short            | EC               | CORP              | US        |     -2340 | NS      | $-134994.60   | -1.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc                   | Landstar System Inc                    | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Short            | EC               | CORP              | US        |      -970 | NS      | $-139389.00   | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                        | Ziff Davis Inc                         | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Short            | EC               | CORP              | US        |     -3725 | NS      | $-130933.75   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                            | Fiserv Inc                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Short            | EC               | CORP              | US        |     -1910 | NS      | $-128294.70   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                           | Paychex Inc                            | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Short            | EC               | CORP              | US        |     -1150 | NS      | $-129007.00   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc           | BioMarin Pharmaceutical Inc            | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Short            | EC               | CORP              | US        |     -1755 | NS      | $-104299.65   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc                       | Robert Half Inc                        | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Short            | EC               | CORP              | US        |     -4790 | NS      | $-130096.40   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp                              | FMC Corp                               | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Short            | EC               | CORP              | US        |     -8833 | NS      | $-122513.71   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Co        | Booz Allen Hamilton Holding Corp       | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Short            | EC               | CORP              | US        |     -1530 | NS      | $-129070.80   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co          | Graphic Packaging Holding Co           | CUSIP: 388689101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -7390 | NS      | $-111293.40   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                        | Perrigo Co PLC                         | CUSIP: 000000000<br>LEI: 549300IFOQS6R1QLY196 | Short            | EC               | CORP              | IE        |     -8700 | NS      | $-121104.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc                  | Alaska Air Group Inc                   | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Short            | EC               | CORP              | US        |     -2800 | NS      | $-140840.00   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc              | MarketAxess Holdings Inc               | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Short            | EC               | CORP              | US        |      -740 | NS      | $-134125.00   | -1.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                        | Whirlpool Corp                         | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Short            | EC               | CORP              | US        |     -1900 | NS      | $-137066.00   | -1.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                            | Copart Inc                             | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Short            | EC               | CORP              | US        |     -2660 | NS      | $-104139.00   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                   | Elevance Health Inc                    | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Short            | EC               | CORP              | US        |      -426 | NS      | $-149334.30   | -1.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                            | Cabot Corp                             | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-132560.00   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                    | Douglas Emmett Inc                     | CUSIP: 25960P109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11500 | NS      | $-126385.00   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                         | Clorox Co/The                          | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Short            | EC               | CORP              | US        |     -1050 | NS      | $-105871.50   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                         | Accenture PLC                          | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Short            | EC               | CORP              | IE        |      -490 | NS      | $-131467.00   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                 | Molina Healthcare Inc                  | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Short            | EC               | CORP              | US        |      -747 | NS      | $-129634.38   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp                     | Hormel Foods Corp                      | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Short            | EC               | CORP              | US        |     -5425 | NS      | $-128572.50   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA Inc                   | DENTSPLY SIRONA Inc                    | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Short            | EC               | CORP              | US        |     -9436 | NS      | $-107853.48   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust              | Service Properties Trust               | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Short            | EC               | CORP              | US        |    -69005 | NS      | $-126969.20   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| DXC Technology Co                     | DXC Technology Co                      | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Short            | EC               | CORP              | US        |     -7680 | NS      | $-112512.00   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                             | ONEOK Inc                              | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Short            | EC               | CORP              | US        |     -1910 | NS      | $-140385.00   | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                        | AptarGroup Inc                         | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-121960.00   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc         | Old Dominion Freight Line Inc          | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Short            | EC               | CORP              | US        |      -735 | NS      | $-115248.00   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp                   | Xerox Holdings Corp                    | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Short            | EC               | CORP              | US        |    -41776 | NS      | $-99009.12    | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                         | Huntsman Corp                          | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Short            | EC               | CORP              | US        |    -11139 | NS      | $-111390.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                       | Chemours Co/The                        | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Short            | EC               | CORP              | US        |    -10800 | NS      | $-127332.00   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                            | Watsco Inc                             | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Short            | EC               | CORP              | US        |      -360 | NS      | $-121302.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc          | FactSet Research Systems Inc           | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Short            | EC               | CORP              | US        |      -422 | NS      | $-122460.18   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                          | Synopsys Inc                           | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Short            | EC               | CORP              | US        |      -303 | NS      | $-142325.16   | -1.24%            |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc                     | General Mills Inc                      | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Short            | EC               | CORP              | US        |     -2550 | NS      | $-118575.00   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc            | Charter Communications Inc             | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Short            | EC               | CORP              | US        |      -650 | NS      | $-135687.50   | -1.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc            | Chipotle Mexican Grill Inc             | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Short            | EC               | CORP              | US        |     -3250 | NS      | $-120250.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                             | Adobe Inc                              | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Short            | EC               | CORP              | US        |      -360 | NS      | $-125996.40   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                       | Weyerhaeuser Co                        | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Short            | EC               | CORP              | US        |     -5450 | NS      | $-129110.50   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-21

**Name of Applicant:** AdvisorShares Trust

**Signature:** Dan Ahrens

**Name of Signer:** Dan Ahrens

**Title:** Secretary and Treasurer