# EDGAR Filing Document

**Accession Number:** 0001408970
**File Stem:** 0000940400-26-020559
**Filing Date:** 2026-5
**Character Count:** 17531
**Document Hash:** bdfc0ad0c63a4d1a8952eaca67332169
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020559.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020559

**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:** 261007804

**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 Focused Equity ETF (Series ID: S000055090)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000173320 | AdvisorShares Focused Equity ETF | CWS             |

## Nport-Ex

**ADVISORSHARES FOCUSED EQUITY ETF**

**Schedule of Investments**

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS – 99.5%** |  |  |
| **Aerospace/Defense – 3.5%** |  |  |
| HEICO Corp. | 19865 | $5446983 |
| **Auto Parts & Equipment – 5.0%** |  |  |
| Allison Transmission Holdings, Inc. | 65946 | 7719639 |
| **Commercial Services – 7.5%** |  |  |
| Moody's Corp. | 13098 | 5714003 |
| Rollins, Inc. | 108791 | 5810527 |
| Total Commercial Services |  | 11524530 |
| **Computers – 4.0%** |  |  |
| Science Applications International Corp. | 64367 | 6109716 |
| **Diversified Financial Services – 4.1%** |  |  |
| Intercontinental Exchange, Inc. | 40360 | 6347821 |
| **Electronics – 4.0%** |  |  |
| Amphenol Corp., Class A | 48298 | 6102452 |
| **Engineering & Construction – 11.3%** |  |  |
| Comfort Systems USA, Inc. | 6962 | 9600529 |
| IES Holdings, Inc.<sup>(a)(b)</sup> | 16485 | 7854608 |
| Total Engineering & Construction |  | 17455137 |
| **Food – 4.2%** |  |  |
| Sprouts Farmers Market, Inc.<sup>(b)</sup> | 83000 | 6401790 |
| **Healthcare - Products – 15.0%** |  |  |
| Abbott Laboratories | 52749 | 5415740 |
| ResMed, Inc. | 27050 | 6072184 |
| Stryker Corp. | 18632 | 6122289 |
| Thermo Fisher Scientific, Inc. | 11351 | 5579357 |
| Total Healthcare - Products |  | 23189570 |
| **Media – 3.2%** |  |  |
| FactSet Research Systems, Inc. | 22638 | 4912219 |
| **Metal Fabricate/Hardware – 4.0%** |  |  |
| Mueller Industries, Inc. | 56016 | 6206573 |
| **Pharmaceuticals – 12.5%** |  |  |
| Cencora, Inc. | 19340 | 6075468 |
| Henry Schein, Inc.<sup>(b)</sup> | 86345 | 6363626 |
| McKesson Corp. | 7950 | 6879612 |
| Total Pharmaceuticals |  | 19318706 |
| **Retail – 5.5%** |  |  |
| Casey's General Stores, Inc. | 11688 | 8507228 |
| **Software – 11.3%** |  |  |
| Adobe, Inc.<sup>(b)</sup> | 18696 | 4544623 |
| Broadridge Financial Solutions, Inc. | 28892 | 4694372 |
| Fair Isaac Corp.<sup>(b)</sup> | 3759 | 4012883 |
| Intuit, Inc. | 9765 | 4222191 |
| Total Software |  | 17474069 |
| **Water – 4.4%** |  |  |
| American Water Works Co., Inc. | 49981 | 6801914 |
| **Total Common Stocks<br> (Cost $143,782,923)** |  | 153518347 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **MONEY MARKET FUND – 0.5%** |  |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 3.56%<sup>(c)</sup><br> (Cost $804,352) | 804352 | $804352 |
| Total Investments – 100.0%<br> (Cost $144,587,275) |  | 154322699 |
| Liabilities in Excess of Other Assets – (0.0)%<sup>\*\*</sup> |  | (73096) |
| **Net Assets – 100.0%** |  | $**154249603** |

---

\*\* Less than 0.05%.

(a) All or a portion of security is on loan. The aggregate market value of the securities on loan is $13,052,419; the aggregate market value of the collateral held by the fund is $12,369,002. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $12,369,002.

(b) Non-income producing security.

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

**ADVISORSHARES FOCUSED EQUITY 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 | $153518347 | $– | $– | $153518347 |
| Money Market Fund | 804352 | – | – | 804352 |
| Total | $154322699 | $– | $– | $154322699 |

---

**SUMMARY OF SCHEDULE OF INVESTMENTS**

---

| | |
|:---|:---|
|  | **% of** **<br> Net Assets** |
| Aerospace/Defense | 3.5% |
| Auto Parts & Equipment | 5.0 |
| Commercial Services | 7.5 |
| Computers | 4.0 |
| Diversified Financial Services | 4.1 |
| Electronics | 4.0 |
| Engineering & Construction | 11.3 |
| Food | 4.2 |
| Healthcare - Products | 15.0 |
| Media | 3.2 |
| Metal Fabricate/Hardware | 4.0 |
| Pharmaceuticals | 12.5 |
| Retail | 5.5 |
| Software | 11.3 |
| Water | 4.4 |
| Money Market Fund | 0.5 |
| Total Investments | 100.0 |
| Liabilities in Excess of Other Assets | (0.0)\*\* |
| Net Assets | 100.0% |

---

\*\* Less than 0.05%.

## 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 Focused Equity ETF

- **b. EDGAR series identifier (if any):** S000055090

- **c. LEI of Series:** 549300SOCN4VS8WM9S74

**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:** $154397832.80

**Total Liabilities:** $148230.24

**Net Assets:** $154249602.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000173320 | -0.02%               | 1.77%                | -7.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $989217.58               | $-911582.58                                |
| Month 2  | $1491978.46              | $1500714.22                                |
| Month 3  | $794532.79               | $-13360150.71                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sprouts Farmers Markets Inc              | Sprouts Farmers Markets Inc COM              | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     83000 | NS      | $6401790.00   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein, Inc.                       | Henry Schein, Inc. COM                       | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     86345 | NS      | $6363626.50   | 4.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions           | Broadridge Financial Solutions Inc           | CUSIP: 11133T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28892 | NS      | $4694372.16   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                     | Amphenol Corporation CL A                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     48298 | NS      | $6102452.30   | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc.                        | IES Holdings Inc. COM                        | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |     16485 | NS      | $7854607.95   | 5.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Rollins Inc                              | Rollins Inc COM                              | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |    108791 | NS      | $5810527.31   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                | Adobe Inc COM                                | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     18696 | NS      | $4544623.68   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK TREASURY TRUST                 | BLACKROCK TREASURY TRUST                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    804352 | NS      | $804352.22    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey'S General Stores Inc.              | Casey'S General Stores Inc. COM              | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     11688 | NS      | $8507227.68   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                      | Stryker Corporation COM                      | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     18632 | NS      | $6122288.88   | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                      | Abbott Laboratories COM                      | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     52749 | NS      | $5415739.83   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc        | Allison Transmission Holdings Inc COM        | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     65946 | NS      | $7719638.76   | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc             | Thermo Fisher Scientific Inc COM             | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     11351 | NS      | $5579357.03   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc.                  | Mueller Industries Inc. COM                  | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     56016 | NS      | $6206572.80   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                               | Intuit Inc COM                               | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      9765 | NS      | $4222190.70   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                   | Fair Isaac Corporation COM                   | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      3759 | NS      | $4012882.86   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc.            | FactSet Research Systems Inc. COM            | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |     22638 | NS      | $4912219.62   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                              | Cencora Inc COM                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     19340 | NS      | $6075467.60   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc.                              | ResMed Inc. COM                              | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     27050 | NS      | $6072184.00   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.       | American Water Works Company, Inc. COM       | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     49981 | NS      | $6801914.29   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                               | Heico Corp COM                               | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     19865 | NS      | $5446983.00   | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mckesson Corp.                           | Mckesson Corp. COM                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      7950 | NS      | $6879612.00   | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Moodys Corp.                             | Moodys Corp. COM                             | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     13098 | NS      | $5714002.50   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.                 | Comfort Systems USA Inc. COM                 | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      6962 | NS      | $9600528.38   | 6.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc            | Intercontinental Exchange Inc COM            | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     40360 | NS      | $6347820.80   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp. | Science Applications International Corp. COM | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     64367 | NS      | $6109715.64   | 3.96%             |  |  |  | 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