# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-020556
**Filing Date:** 2026-5
**Character Count:** 16825
**Document Hash:** c4caa1e6b98ad3ebff62e4a84d178b29
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020556.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020556

**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:** 261007801

**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 HVAC and Industrials ETF (Series ID: S000089876)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000256704 | AdvisorShares HVAC and Industrials ETF | HVAC            |

## Nport-Ex

**ADVISORSHARES HVAC AND INDUSTRIALS ETF**

**Schedule of Investments**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS – 97.9%** |  |  |
| **Aerospace/Defense – 3.6%** |  |  |
| Curtiss-Wright Corp. | 394 | $268361 |
| **Building Materials – 9.1%** |  |  |
| Modine Manufacturing Co.<sup>(a)</sup> | 1134 | 245749 |
| SPX Technologies, Inc.<sup>(a)</sup> | 1096 | 219134 |
| Trane Technologies PLC | 527 | 219622 |
| Total Building Materials |  | 684505 |
| **Commercial Services – 10.3%** |  |  |
| API Group Corp.<sup>(a)</sup> | 4165 | 168766 |
| Legence Corp., Class A<sup>(a)</sup> | 5738 | 323968 |
| Willdan Group, Inc.<sup>(a)</sup> | 3733 | 285798 |
| Total Commercial Services |  | 778532 |
| **Electrical Components & Equipment – 7.4%** |  |  |
| AMETEK, Inc. | 1352 | 289815 |
| Belden, Inc. | 2324 | 266865 |
| Total Electrical Components & Equipment |  | 556680 |
| **Electronics – 16.0%** |  |  |
| Amphenol Corp., Class A | 2674 | 337860 |
| Fortive Corp. | 4618 | 255283 |
| Hubbell, Inc. | 484 | 237518 |
| Jabil, Inc. | 1414 | 375601 |
| Total Electronics |  | 1206262 |
| **Engineering & Construction – 17.4%** |  |  |
| Comfort Systems USA, Inc. | 320 | 441277 |
| Fluor Corp.<sup>(a)</sup> | 6750 | 314887 |
| MasTec, Inc.<sup>(a)</sup> | 784 | 252244 |
| Sterling Infrastructure, Inc.<sup>(a)</sup> | 732 | 298122 |
| Total Engineering & Construction |  | 1306530 |
| **Machinery - Construction & Mining – 16.2%** |  |  |
| Bloom Energy Corp., Class A<sup>(a)</sup> | 1115 | 151071 |
| BWX Technologies, Inc. | 1874 | 383214 |
| GE Vernova, Inc. | 400 | 349160 |
| Vertiv Holdings Co., Class A | 1331 | 333522 |
| Total Machinery - Construction & Mining |  | 1216967 |
| **Machinery - Diversified – 8.3%** |  |  |
| Dover Corp. | 1242 | 258895 |
| Flowserve Corp. | 4940 | 363139 |
| Total Machinery - Diversified |  | 622034 |
| **Miscellaneous Manufacturing – 6.6%** |  |  |
| Illinois Tool Works, Inc. | 817 | 212657 |
| Parker-Hannifin Corp. | 320 | 286477 |
| Total Miscellaneous Manufacturing |  | 499134 |
| **REITS – 3.0%** |  |  |
| Digital Realty Trust, Inc. | 1279 | 230489 |
| **Total Common Stocks<br> (Cost $7,422,904)** |  | 7369494 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **MONEY MARKET FUND – 3.9%** |  |  |
| Dreyfus Treasury Obligations Cash Management, Institutional Shares, 3.54%<sup>(b)</sup><br> (Cost $291,723) | 291723 | $291723 |
| Total Investments – 101.8%<br> (Cost $7,714,627) |  | 7661217 |
| Liabilities in Excess of Other Assets – (1.8%) |  | (137825) |
| **Net Assets – 100.0%** |  | $**7523392** |

---

PLC - Public Limited Company

REITS - Real Estate Investment Trusts

(a) Non-income producing security.

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

**ADVISORSHARES HVAC AND INDUSTRIALS ETF**

**Schedule of Investments (continued)**

March 31, 2026 (Unaudited)

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

**Fair Value Measurements**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks | $7369494 | $– | $– | $7369494 |
| Money Market Fund | 291723 | – | – | 291723 |
| Total | $7661217 | $– | $– | $7661217 |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | |
|:---|:---|
|  | **% of**<br>**Net Assets** |
| Aerospace/Defense | 3.6% |
| Building Materials | 9.1 |
| Commercial Services | 10.3 |
| Electrical Components & Equipment | 7.4 |
| Electronics | 16.0 |
| Engineering & Construction | 17.4 |
| Machinery - Construction & Mining | 16.2 |
| Machinery - Diversified | 8.3 |
| Miscellaneous Manufacturing | 6.6 |
| REITS | 3.0 |
| Money Market Fund | 3.9 |
| Total Investments | 101.8 |
| Liabilities in Excess of Other Assets | (1.8) |
| 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 HVAC and Industrials ETF

- **b. EDGAR series identifier (if any):** S000089876

- **c. LEI of Series:** 529900FVXPKF248FDC78

**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:** $7905537.22

**Total Liabilities:** $382144.91

**Net Assets:** $7523392.31

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256704 | 10.47%               | 8.82%                | -8.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-40088.32               | $495373.95                                 |
| Month 2  | $10026.37                | $441289.84                                 |
| Month 3  | $548467.30               | $-1362254.65                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Flowserve Corporation       | Flowserve Corporation COM         | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |      4940 | NS      | $363139.40    | 4.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec, Inc.                | Mastec, Inc. COM                  | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |       784 | NS      | $252244.16    | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                   | Jabil Inc COM                     | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      1414 | NS      | $375600.82    | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation        | Amphenol Corporation CL A         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      2674 | NS      | $337859.90    | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc.    | Illinois Tool Works Inc. COM      | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |       817 | NS      | $212656.93    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corporation    | Bloom Energy Corporation COM CL A | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |      1115 | NS      | $151071.35    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc.             | GE Vernova Inc. COM               | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       400 | NS      | $349160.00    | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.       | Parker-Hannifin Corp. COM         | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       320 | NS      | $286476.80    | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Incorporated        | Hubbell Incorporated COM          | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       484 | NS      | $237518.16    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.    | Comfort Systems USA Inc. COM      | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |       320 | NS      | $441276.80    | 5.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corporation           | Fluor Corporation COM             | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      6750 | NS      | $314887.50    | 4.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corporation         | Fortive Corporation COM           | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |      4618 | NS      | $255283.04    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corporation           | Dover Corporation COM             | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      1242 | NS      | $258894.90    | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp              | API Group Corp COM STK            | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |      4165 | NS      | $168765.80    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc.   | Digital Realty Trust Inc. COM     | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      1279 | NS      | $230488.59    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc | Sterling Infrastructure Inc COM   | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |       732 | NS      | $298121.64    | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Willdan Group Inc.          | Willdan Group Inc. COM            | CUSIP: 96924N100<br>LEI: 529900YQO0LF5VAEKN05 | Long             | EC               | CORP              | US        |      3733 | NS      | $285798.48    | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Ametek, Inc.                | Ametek, Inc. COM                  | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      1352 | NS      | $289814.72    | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGENCE CORP                | Legence Corp. CL A                | CUSIP: 52476L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5738 | NS      | $323967.48    | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| DREYFUS TRSRY SECURITIES    | DREYFUS TRSRY SECURITIES          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    291723 | NS      | $291722.58    | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc.                 | Belden Inc. COM                   | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      2324 | NS      | $266864.92    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co          | Vertiv Holdings Co COM CL A       | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      1331 | NS      | $333521.98    | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.       | BWX Technologies Inc. COM         | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      1874 | NS      | $383214.26    | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC      | Trane Technologies PLC COM USD1   | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |       527 | NS      | $219621.98    | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.    | Modine Manufacturing Co. COM      | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      1134 | NS      | $245749.14    | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX TECHNOLOGIES INC        | SPX Technologies, Inc. COM        | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1096 | NS      | $219134.24    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.        | Curtiss-Wright Corp. COM          | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       394 | NS      | $268361.28    | 3.57%             |  |  |  | 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