AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) NPORT-P AdvisorShares Dorsey Wright ADR ETF (Sep 2024 report)

ADVISORSHARES DORSEY WRIGHT ADR ETF

Schedule of Investments

September 30, 2024 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 100.0%
Aerospace/Defense – 7.2%
BAE Systems PLC (United Kingdom)(a)		11,240	$	745,774
Embraer SA (Brazil)(a)(b)		29,242		1,034,289
Total Aerospace/Defense				1,780,063
Apparel – 1.7%
Hermes International SCA (France)(a)		1,728		426,712
Banks – 25.5%
Banco Bilbao Vizcaya Argentaria SA (Spain)(a)		71,770		777,987
Banco Macro SA (Argentina)(a)(b)(c)		14,910		946,785
Barclays PLC (United Kingdom)(a)		52,817		641,726
Grupo Financiero Galicia SA (Argentina)(a)(b)(c)		25,134		1,057,890
ING Groep NV (Netherlands)(a)		34,341		623,633
Mitsubishi UFJ Financial Group, Inc. (Japan)(a)(c)		80,264		817,087
Sumitomo Mitsui Financial Group, Inc. (Japan)(a)(c)		46,337		585,236
UBS Group AG (Switzerland)		28,005		865,635
Total Banks				6,315,979
Commercial Services – 6.5%
New Oriental Education & Technology Group, Inc. (China)(a)		11,115		842,962
RELX PLC (United Kingdom)(a)		16,144		766,194
Total Commercial Services				1,609,156
Computers – 2.3%
Logitech International SA (Switzerland)(c)		6,212		557,403
Diversified Financial Services – 5.2%
Nomura Holdings, Inc. (Japan)(a)(c)		98,293		513,090
Qifu Technology, Inc. (China)(a)		26,130		778,935
Total Diversified Financial Services				1,292,025
Electric – 3.4%
Pampa Energia SA (Argentina)(a)(b)(c)		13,996		840,320
Electronics – 4.0%
ABB Ltd. (Switzerland)(a)		17,110		991,011
Food Service – 2.2%
Compass Group PLC (United Kingdom)(a)		16,649		539,802
Insurance – 2.1%
Aegon Ltd. (Netherlands)		81,105		518,261
Internet – 6.3%
Jumia Technologies AG (Germany)(a)(b)		45,675		243,904
MercadoLibre, Inc. (Brazil)(b)		381		781,797
Tencent Music Entertainment Group (China)(a)		44,640		537,912
Total Internet				1,563,613
Mining – 4.9%
Cia de Minas Buenaventura SAA (Peru)(a)		34,143		472,539
Harmony Gold Mining Co. Ltd. (South Africa)(a)(c)		73,140		743,834
Total Mining				1,216,373
Miscellaneous Manufacturing – 2.4%
Siemens AG (Germany)(a)		5,958		602,056
Oil & Gas – 4.5%
YPF SA (Argentina)(a)(b)(c)		52,715		1,118,085
Pharmaceuticals – 9.6%
Avadel Pharmaceuticals PLC(b)		29,156		382,381
Novo Nordisk A/S (Denmark)(a)		11,722		1,395,739
Teva Pharmaceutical Industries Ltd. (Israel)(a)(b)		32,916		593,146
Total Pharmaceuticals				2,371,266

Investments	Shares		Value
COMMON STOCKS (continued)
Semiconductors – 6.6%
ASE Technology Holding Co., Ltd. (Taiwan)(a)		61,766	$	602,836
NXP Semiconductors NV (China)		2,248		539,543
Tokyo Electron Ltd. (Japan)(a)		5,416		481,103
Total Semiconductors				1,623,482
Software – 3.2%
SAP SE (Germany)(a)		3,483		797,955
Transportation – 2.4%
Tsakos Energy Navigation Ltd. (Greece)		23,496		589,750
Total Common Stocks (Cost $17,220,461)				24,753,312
MONEY MARKET FUNDS – 19.0%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 4.88%(d)(e)		4,671,244		4,671,244
Invesco Government & Agency Portfolio - Private Investment Class, 4.55%(d)		35,553		35,553
Total Money Market Funds (Cost $4,706,796)				4,706,797
Total Investments – 119.0% (Cost $21,927,257)				29,460,109
Liabilities in Excess of Other Assets – (19.0%)				(4,711,862	)
Net Assets – 100.0%			$	24,748,247

PLC - Public Limited Company

(a)	American Depositary Receipt.
(b)	Non-income producing security.
(c)	All or a portion of security is on loan. The aggregate market value of the securities on loan is $5,533,863; the aggregate market value of the collateral held by the fund is $5,781,071. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $1,109,827.
(d)	Rate shown reflects the 7-day yield as of September 30, 2024.
(e)	Collateral received from brokers for securities lending was invested in these short-term investments.

ADVISORSHARES DORSEY WRIGHT ADR ETF

Schedule of Investments (continued)

September 30, 2024 (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 September 30, 2024, 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	$	24,753,312	$	–	$	–	$	24,753,312
Money Market Funds		4,706,797		–		–		4,706,797
Total	$	29,460,109	$	–	$	–	$	29,460,109

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of Net Assets
Aerospace/Defense		7.2	%
Apparel		1.7
Banks		25.5
Commercial Services		6.5
Computers		2.3
Diversified Financial Services		5.2
Electric		3.4
Electronics		4.0
Food Service		2.2
Insurance		2.1
Internet		6.3
Mining		4.9
Miscellaneous Manufacturing		2.4
Oil & Gas		4.5
Pharmaceuticals		9.6
Semiconductors		6.6
Software		3.2
Transportation		2.4
Money Market Funds		19.0
Total Investments		119.0
Liabilities in Excess of Other Assets		(19.0	)
Net Assets		100.0	%