ADVISORSHARES INSIDER ADVANTAGE ETF
(formerly AdvisorShares DoubleLine Value Equity ETF)
Schedule of Investments
March 31, 2023 (Unaudited)
Investments | Shares | Value | ||||||
COMMON STOCKS – 99.5% | ||||||||
Aerospace/Defense – 1.0% | ||||||||
Lockheed Martin Corp. | 841 | $ | 397,566 | |||||
Apparel – 1.1% | ||||||||
Steven Madden Ltd. | 12,519 | 450,684 | ||||||
Auto Parts & Equipment – 1.0% | ||||||||
Allison Transmission Holdings, Inc. | 9,432 | 426,704 | ||||||
Banks – 1.0% | ||||||||
State Street Corp. | 5,242 | 396,767 | ||||||
Building Materials – 4.1% | ||||||||
Eagle Materials, Inc. | 3,145 | 461,529 | ||||||
Griffon Corp. | 12,760 | 408,448 | ||||||
Louisiana-Pacific Corp. | 6,578 | 356,593 | ||||||
Owens Corning | 4,708 | 451,026 | ||||||
Total Building Materials | 1,677,596 | |||||||
Chemicals – 5.6% | ||||||||
AdvanSix, Inc. | 10,405 | 398,199 | ||||||
CF Industries Holdings, Inc. | 4,890 | 354,476 | ||||||
Chemours Co. (The) | 13,157 | 393,921 | ||||||
Huntsman Corp. | 14,441 | 395,106 | ||||||
Mosaic Co. (The) | 7,157 | 328,363 | ||||||
Olin Corp. | 7,715 | 428,183 | ||||||
Total Chemicals | 2,298,248 | |||||||
Coal – 1.8% | ||||||||
Alpha Metallurgical Resources, Inc. | 2,524 | 393,744 | ||||||
Arch Resources, Inc. | 2,687 | 353,233 | ||||||
Total Coal | 746,977 | |||||||
Commercial Services – 6.8% | ||||||||
CRA International, Inc. | 3,561 | 383,947 | ||||||
Kforce, Inc. | 6,825 | 431,613 | ||||||
Medifast, Inc.(a) | 3,205 | 332,262 | ||||||
Robert Half International, Inc. | 5,519 | 444,666 | ||||||
Textainer Group Holdings Ltd. (China) | 12,920 | 414,861 | ||||||
Triton International Ltd. (Bermuda) | 5,840 | 369,205 | ||||||
Upbound Group, Inc. | 16,953 | 415,518 | ||||||
Total Commercial Services | 2,792,072 | |||||||
Computers – 2.2% | ||||||||
Apple, Inc. | 2,967 | 489,259 | ||||||
NetApp, Inc. | 6,512 | 415,791 | ||||||
Total Computers | 905,050 | |||||||
Distribution/Wholesale – 1.0% | ||||||||
Veritiv Corp. | 3,035 | 410,150 | ||||||
Diversified Financial Services – 3.8% | ||||||||
Affiliated Managers Group, Inc. | 2,735 | 389,519 | ||||||
Evercore, Inc., Class A | 3,759 | 433,713 | ||||||
PJT Partners, Inc., Class A | 5,440 | 392,713 | ||||||
Synchrony Financial | 12,058 | 350,647 | ||||||
Total Diversified Financial Services | 1,566,592 | |||||||
Electrical Components & Equipment – 2.0% | ||||||||
Emerson Electric Co. | 4,120 | 359,017 | ||||||
Encore Wire Corp. | 2,449 | 453,873 | ||||||
Total Electrical Components & Equipment | 812,890 | |||||||
Electronics – 1.1% | ||||||||
CTS Corp. | 8,902 | 440,293 | ||||||
Engineering & Construction – 1.0% | ||||||||
AECOM | 4,748 | 400,351 | ||||||
Food – 4.2% | ||||||||
Cal-Maine Foods, Inc. | 7,748 | 471,776 | ||||||
Flowers Foods, Inc. | 14,936 | 409,396 | ||||||
John B Sanfilippo & Son, Inc. | 4,352 | 421,796 | ||||||
Tootsie Roll Industries, Inc. | 9,298 | 417,573 | ||||||
Total Food | 1,720,541 | |||||||
Forest Products & Paper – 0.9% | ||||||||
Sylvamo Corp. | 8,407 | 388,908 | ||||||
Healthcare - Products – 1.0% | ||||||||
Embecta Corp. | 14,342 | 403,297 | ||||||
Healthcare - Services – 3.0% | ||||||||
HCA Healthcare, Inc. | 1,780 | 469,351 | ||||||
Humana, Inc. | 841 | 408,272 | ||||||
Quest Diagnostics, Inc. | 2,605 | 368,555 | ||||||
Total Healthcare - Services | 1,246,178 | |||||||
Home Builders – 4.3% | ||||||||
D.R. Horton, Inc. | 4,352 | 425,147 | ||||||
KB Home | 11,276 | 453,070 | ||||||
Lennar Corp., Class A | 4,055 | 426,221 | ||||||
Toll Brothers, Inc. | 7,319 | 439,359 | ||||||
Total Home Builders | 1,743,797 | |||||||
Home Furnishings – 1.1% | ||||||||
Dolby Laboratories, Inc., Class A | 5,314 | 453,922 | ||||||
Insurance – 1.9% | ||||||||
MGIC Investment Corp. | 27,383 | 367,480 | ||||||
Old Republic International Corp. | 16,419 | 409,982 | ||||||
Total Insurance | 777,462 | |||||||
Iron/Steel – 4.2% | ||||||||
Nucor Corp. | 2,869 | 443,174 | ||||||
Reliance Steel & Aluminum Co. | 1,715 | 440,309 | ||||||
Steel Dynamics, Inc. | 3,650 | 412,669 | ||||||
United States Steel Corp. | 15,528 | 405,281 | ||||||
Total Iron/Steel | 1,701,433 | |||||||
Lodging – 3.0% | ||||||||
Boyd Gaming Corp. | 7,157 | 458,907 | ||||||
Choice Hotels International, Inc. | 3,024 | 354,382 | ||||||
Marriott International, Inc., Class A | 2,473 | 410,617 | ||||||
Total Lodging | 1,223,906 | |||||||
Media – 0.9% | ||||||||
Nexstar Media Group, Inc. | 2,026 | 349,809 | ||||||
Miscellaneous Manufacturing – 2.0% | ||||||||
Carlisle Cos., Inc. | 1,682 | 380,250 | ||||||
Textron, Inc. | 5,935 | 419,189 | ||||||
Total Miscellaneous Manufacturing | 799,439 | |||||||
Oil & Gas – 17.1% | ||||||||
APA Corp. | 10,595 | 382,056 | ||||||
California Resources Corp. | 9,820 | 378,070 | ||||||
Chevron Corp. | 2,414 | 393,868 | ||||||
ConocoPhillips | 3,381 | 335,429 | ||||||
Coterra Energy, Inc. | 14,950 | 366,873 | ||||||
Delek US Holdings, Inc. | 16,142 | 370,459 | ||||||
Exxon Mobil Corp. | 3,874 | 424,823 | ||||||
HF Sinclair Corp. | 7,992 | 386,653 | ||||||
Marathon Oil Corp. | 16,535 | 396,178 | ||||||
Marathon Petroleum Corp. | 3,319 | 447,501 | ||||||
Occidental Petroleum Corp. | 5,646 | 352,480 | ||||||
Ovintiv, Inc. | 9,598 | 346,296 |
ADVISORSHARES INSIDER ADVANTAGE ETF
Schedule of Investments (continued)
March 31, 2023 (Unaudited)
Investments | Shares | Value | ||||||
COMMON STOCKS (continued) | ||||||||
Oil & Gas (continued) | ||||||||
PBF Energy, Inc., Class A | 9,495 | $ | 411,703 | |||||
PDC Energy, Inc. | 5,558 | 356,712 | ||||||
Phillips 66 | 3,818 | 387,069 | ||||||
Range Resources Corp. | 14,655 | 387,918 | ||||||
Ranger Oil Corp., Class A | 9,946 | 406,195 | ||||||
Valero Energy Corp. | 3,326 | 464,309 | ||||||
Total Oil & Gas | 6,994,592 | |||||||
Oil & Gas Services – 0.9% | ||||||||
Halliburton Co. | 11,869 | 375,535 | ||||||
Packaging & Containers – 2.1% | ||||||||
Berry Global Group, Inc. | 7,122 | 419,486 | ||||||
Packaging Corp. of America | 3,066 | 425,653 | ||||||
Total Packaging & Containers | 845,139 | |||||||
REITS – 1.0% | ||||||||
Simon Property Group, Inc. | 3,561 | 398,725 | ||||||
Retail – 6.2% | ||||||||
Group 1 Automotive, Inc. | 2,032 | 460,086 | ||||||
Lowe’s Cos., Inc. | 1,943 | 388,542 | ||||||
Murphy USA, Inc. | 1,543 | 398,171 | ||||||
Patrick Industries, Inc. | 5,935 | 408,387 | ||||||
Penske Automotive Group, Inc. | 3,074 | 435,924 | ||||||
Sonic Automotive, Inc., Class A | 8,289 | 450,424 | ||||||
Total Retail | 2,541,534 | |||||||
Semiconductors – 3.2% | ||||||||
Applied Materials, Inc. | 3,736 | 458,893 | ||||||
KLA Corp. | 1,088 | 434,297 | ||||||
Kulicke & Soffa Industries, Inc. (Singapore)(a) | 7,881 | 415,250 | ||||||
Total Semiconductors | 1,308,440 | |||||||
Software – 1.0% | ||||||||
SS&C Technologies Holdings, Inc. | 7,319 | 413,304 | ||||||
Transportation – 8.0% | ||||||||
ArcBest Corp. | 4,253 | 393,062 | ||||||
CH Robinson Worldwide, Inc. | 4,253 | 422,621 | ||||||
Expeditors International of Washington, Inc. | 3,786 | 416,914 | ||||||
Forward Air Corp. | 3,818 | 411,428 | ||||||
International Seaways, Inc. | 10,059 | 419,259 | ||||||
Landstar System, Inc. | 2,415 | 432,913 | ||||||
Matson, Inc.(a) | 6,520 | 389,048 | ||||||
Scorpio Tankers, Inc. (Monaco) | 6,726 | 378,741 | ||||||
Total Transportation | 3,263,986 | |||||||
Total Common Stocks | ||||||||
(Cost $39,574,453) | 40,671,887 | |||||||
MONEY MARKET FUND – 0.2% | ||||||||
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 4.49%(b) | ||||||||
(Cost $90,570) | 90,570 | 90,570 | ||||||
Total Investments – 99.7% | ||||||||
(Cost $39,665,023) | 40,762,457 | |||||||
Other Assets in Excess of Liabilities – 0.3% | 135,058 | |||||||
Net Assets – 100.0% | $ | 40,897,515 |
REITS - Real Estate Investment Trusts
(a) | All or a portion of security is on loan. The aggregate market value of the securities on loan is $790,023; the aggregate market value of the collateral held by the fund is $802,384. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $802,384. |
(b) | Rate shown reflects the 7-day yield as of March 31, 2023. |
ADVISORSHARES INSIDER ADVANTAGE ETF
Schedule of Investments (continued)
March 31, 2023 (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, 2023, 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 | $ | 40,671,887 | $ | - | $ | - | $ | 40,671,887 | ||||||||
Money Market Fund | 90,570 | - | - | 90,570 | ||||||||||||
Total | $ | 40,762,457 | $ | - | $ | - | $ | 40,762,457 |
SUMMARY OF SCHEDULE OF INVESTMENTS
% of | ||||
Net Assets | ||||
Aerospace/Defense | 1.0 | % | ||
Apparel | 1.1 | |||
Auto Parts & Equipment | 1.0 | |||
Banks | 1.0 | |||
Building Materials | 4.1 | |||
Chemicals | 5.6 | |||
Coal | 1.8 | |||
Commercial Services | 6.8 | |||
Computers | 2.2 | |||
Distribution/Wholesale | 1.0 | |||
Diversified Financial Services | 3.8 | |||
Electrical Components & Equipment | 2.0 | |||
Electronics | 1.1 | |||
Engineering & Construction | 1.0 | |||
Food | 4.2 | |||
Forest Products & Paper | 0.9 | |||
Healthcare - Products | 1.0 | |||
Healthcare - Services | 3.0 | |||
Home Builders | 4.3 | |||
Home Furnishings | 1.1 | |||
Insurance | 1.9 | |||
Iron/Steel | 4.2 | |||
Lodging | 3.0 | |||
Media | 0.9 | |||
Miscellaneous Manufacturing | 2.0 | |||
Oil & Gas | 17.1 | |||
Oil & Gas Services | 0.9 | |||
Packaging & Containers | 2.1 | |||
REITS | 1.0 | |||
Retail | 6.2 | |||
Semiconductors | 3.2 | |||
Software | 1.0 | |||
Transportation | 8.0 | |||
Money Market Fund | 0.2 | |||
Total Investments | 99.7 | |||
Other Assets in Excess of Liabilities | 0.3 | |||
Net Assets | 100.0 | % |