ADVISORSHARES ALPHA DNA EQUITY SENTIMENT ETF

Schedule of Investments

March 31, 2023 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 97.6%
Airlines – 2.2%
Allegiant Travel Co.*		5,037	$	463,303
Sun Country Airlines Holdings, Inc.*		23,153		474,637
Total Airlines				937,940
Auto Manufacturers – 1.0%
PACCAR, Inc.		6,022		440,810
Banks – 12.9%
Associated Banc-Corp.		23,461		421,829
Banner Corp.		7,826		425,500
BOK Financial Corp.		4,976		420,024
City Holding Co.		4,757		432,316
Enterprise Financial Services Corp.		9,324		415,757
First Commonwealth Financial Corp.		33,502		416,430
FNB Corp.		36,417		422,437
Heartland Financial USA, Inc.		10,937		419,543
Lakeland Financial Corp.		6,574		411,795
OFG Bancorp (Puerto Rico)		16,457		410,438
Preferred Bank/Los Angeles CA		7,674		420,612
Regions Financial Corp.		23,416		434,601
S&T Bancorp, Inc.		12,507		393,345
Total Banks				5,444,627
Biotechnology – 1.1%
MacroGenics, Inc.*		64,112		459,683
Building Materials – 1.0%
Trane Technologies PLC		2,351		432,537
Commercial Services – 4.2%
AMN Healthcare Services, Inc.*		5,020		416,459
Paylocity Holding Corp.*		2,399		476,873
Stride, Inc.*		10,862		426,334
United Rentals, Inc.		1,142		451,958
Total Commercial Services				1,771,624
Computers – 4.2%
Crowdstrike Holdings, Inc., Class A*		3,225		442,664
Fortinet, Inc.*		6,664		442,889
Hewlett Packard Enterprise Co.		28,381		452,109
Zscaler, Inc.*		3,796		443,487
Total Computers				1,781,149
Cosmetics/Personal Care – 1.1%
elf Beauty, Inc.*		5,370		442,219
Distribution/Wholesale – 1.0%
WW Grainger, Inc.		636		438,083
Diversified Financial Services – 2.0%
Ameriprise Financial, Inc.		1,366		418,679
Interactive Brokers Group, Inc., Class A		5,355		442,109
Total Diversified Financial Services				860,788
Electrical Components & Equipment – 1.0%
Belden, Inc.		5,041		437,408
Electronics – 1.1%
Allegion PLC		4,182		446,345
Food – 1.0%
Conagra Brands, Inc.		11,461		430,475
Healthcare - Products – 4.1%
Exact Sciences Corp.*		6,333		429,441
Hologic, Inc.*		5,348		431,584
Inspire Medical Systems, Inc.*		1,758		411,495
Lantheus Holdings, Inc.*		5,281		435,999
Total Healthcare - Products				1,708,519
Home Builders – 1.0%
Toll Brothers, Inc.		7,256		435,578
Home Furnishings – 1.0%
Ethan Allen Interiors, Inc.		15,814		434,252
Insurance – 1.0%
Kinsale Capital Group, Inc.		1,447		434,317
Internet – 7.4%
Airbnb, Inc., Class A*		3,611		449,208
Booking Holdings, Inc.*		170		450,910
DoorDash, Inc., Class A*		7,055		448,416
Meta Platforms, Inc., Class A*		2,100		445,074
Okta, Inc.*		5,128		442,239
Uber Technologies, Inc.*		13,922		441,327
Wix.com Ltd. (Israel)*		4,473		446,405
Total Internet				3,123,579
Investment Companies – 4.1%
Ares Capital Corp.(a)		23,933		437,376
Main Street Capital Corp.(a)		10,807		426,444
Oaktree Specialty Lending Corp.		22,901		429,852
Owl Rock Capital Corp.(a)		34,227		431,602
Total Investment Companies				1,725,274
Leisure Time – 1.1%
OneSpaWorld Holdings Ltd. (Bahamas)*		36,905		442,491
Lodging – 2.1%
Boyd Gaming Corp.		6,963		446,468
Marriott International, Inc., Class A		2,706		449,304
Total Lodging				895,772
Machinery - Diversified – 1.1%
AGCO Corp.		3,325		449,540
Miscellaneous Manufacturing – 1.0%
Parker-Hannifin Corp.		1,271		427,196
Office/Business Equipment – 1.1%
Zebra Technologies Corp., Class A*		1,479		470,322
Oil & Gas Services – 2.1%
Liberty Energy, Inc.		34,214		438,281
NOV, Inc.		23,921		442,778
Total Oil & Gas Services				881,059
Packaging & Containers – 1.1%
O-I Glass, Inc.*		19,668		446,660
Pharmaceuticals – 1.0%
Revance Therapeutics, Inc.*		13,470		433,869
Retail – 7.4%
Abercrombie & Fitch Co., Class A*		17,086		474,136
Denny’s Corp.*		39,463		440,407
Dick’s Sporting Goods, Inc.		3,147		446,528
Genuine Parts Co.		2,674		447,387
Shake Shack, Inc., Class A*		7,986		443,143
Texas Roadhouse, Inc.		4,064		439,156
Ulta Beauty, Inc.*		819		446,904
Total Retail				3,137,661
Savings & Loans – 3.0%
Axos Financial, Inc.*		11,320		417,934
Berkshire Hills Bancorp, Inc.		16,647		417,174
Washington Federal, Inc.		14,101		424,722
Total Savings & Loans				1,259,830
Semiconductors – 4.3%
Analog Devices, Inc.		2,296		452,817

ADVISORSHARES ALPHA DNA EQUITY SENTIMENT ETF

Schedule of Investments (continued)

March 31, 2023 (Unaudited)

Investments	Shares		Value
COMMON STOCKS (continued)
Semiconductors (continued)
Lattice Semiconductor Corp.*		4,673	$	446,272
Microchip Technology, Inc.		5,472		458,444
NVIDIA Corp.		1,604		445,543
Total Semiconductors				1,803,076
Software – 11.7%
Alteryx, Inc., Class A*		7,377		434,063
Ceridian HCM Holding, Inc.*		6,398		468,462
Dynatrace, Inc.*		10,824		457,855
Evolent Health, Inc., Class A*		13,607		441,547
HashiCorp, Inc., Class A*		15,293		447,932
HubSpot, Inc.*		1,070		458,762
Monday.com Ltd.*		3,102		442,810
NextGen Healthcare, Inc.*		24,617		428,582
Nutanix, Inc., Class A*		16,627		432,136
Paycor HCM, Inc.*		17,525		464,763
Salesforce, Inc.*		2,233		446,109
Total Software				4,923,021
Telecommunications – 4.2%
Arista Networks, Inc.*		2,536		425,693
Calix, Inc.*		8,191		438,956
Ciena Corp.*		8,762		460,180
Cisco Systems, Inc.		8,425		440,417
Total Telecommunications				1,765,246
Transportation – 3.0%
Ardmore Shipping Corp. (Ireland)		28,073		417,446
FLEX LNG Ltd. (Norway)		13,042		437,950
International Seaways, Inc.		9,612		400,628
Total Transportation				1,256,024
Venture Capital – 1.0%
Hercules Capital, Inc.(a)		33,074		426,324
Total Common Stocks
(Cost $40,624,983)				41,203,298
MONEY MARKET FUNDS – 2.5%
Dreyfus Institutional Treasury and Agency Cash Advantage Fund, 4.71%(b)		519		519
Fidelity Investments Money Market Government Portfolio – Class I, 4.47%(b)		265,039		265,039
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 4.79%(b)(c)
(Cost $762,917)		762,917		762,917
Total Money Market Funds
(Cost $1,028,475)				1,028,475

	Notional Amount		Contracts		Value
PURCHASED PUT OPTIONS – 2.0%
Shares Russell 2000 ETF, expiring 07/21/23, Strike Price $165.00*	$	26,235,000		1,590	$	626,460
SPDR S&P 500 ETF Trust, expiring 07/21/23, Strike Price $375.00*		12,712,500		339		210,689
Total Purchased Put Options
(Cost $1,074,969)						837,149
Total Investments – 102.1%
(Cost $42,728,427)						43,068,922
Liabilities in Excess of Other Assets – (2.1%)						(857,164	)
Net Assets – 100.0%					$	42,211,758

ETF - Exchange Traded Fund

PLC - Public Limited Company

*	Non-income producing security.
(a)	All or a portion of security is on loan. The aggregate market value of the securities on loan is $801,266; the aggregate market value of the collateral held by the fund is $821,993.  The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $59,076.
(b)	Rate shown reflects the 7-day yield as of March 31, 2023.
(c)	Collateral received from brokers for securities lending was invested in these short-term investments.

ADVISORSHARES ALPHA DNA EQUITY SENTIMENT 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	$	41,203,298	$	-	$	-	$	41,203,298
Money Market Funds		1,028,475		-		-		1,028,475
Purchased Put Options		837,149		-		-		837,149
Total	$	43,068,922	$	-	$	-	$	43,068,922

SUMMARY OF SCHEDULE OF INVESTMENTS
	% of
	Net Assets
Airlines		2.2	%
Auto Manufacturers		1.0
Banks		12.9
Biotechnology		1.1
Building Materials		1.0
Commercial Services		4.2
Computers		4.2
Cosmetics/Personal Care		1.1
Distribution/Wholesale		1.0
Diversified Financial Services		2.0
Electrical Components & Equipment		1.0
Electronics		1.1
Food		1.0
Healthcare - Products		4.1
Home Builders		1.0
Home Furnishings		1.0
Insurance		1.0
Internet		7.4
Investment Companies		4.1
Leisure Time		1.1
Lodging		2.1
Machinery - Diversified		1.1
Miscellaneous Manufacturing		1.0
Office/Business Equipment		1.1
Oil & Gas Services		2.1
Packaging & Containers		1.1
Pharmaceuticals		1.0
Purchased Put Option		2.0
Retail		7.4
Savings & Loans		3.0
Semiconductors		4.3
Software		11.7
Telecommunications		4.2
Transportation		3.0
Venture Capital		1.0
Money Market Funds		2.5
Total Investments		102.1
Liabilities in Excess of Other Assets		(2.1	)
Net Assets		100.0	%