ADVISORSHARES DORSEY WRIGHT FSM ALL CAP WORLD ETF

Schedule of Investments

March 31, 2023 (Unaudited)

Investments	Shares		Value
EXCHANGE TRADED FUNDS – 99.6%
Equity Fund – 99.6%
Invesco S&P 500 Equal Weight ETF(a)		310,759	$	44,941,967
Invesco S&P 500 Pure Value ETF(a)		540,570		41,029,263
Total Exchange Traded Funds
(Cost $90,501,651)				85,971,230
MONEY MARKET FUNDS – 42.4%
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 4.49%(b)		527,969		527,969
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 4.79%(b)(c)		36,118,031		36,118,030
Total Money Market Funds
(Cost $36,645,999)				36,645,999
Total Investments – 142.0%
(Cost $127,147,650)				122,617,229
Liabilities in Excess of Other Assets – (42.0%)				(36,262,039	)
Net Assets – 100.0%			$	86,355,190

ETF - Exchange Traded Fund

(a)	All or a portion of security is on loan. The aggregate market value of the securities on loan is $36,056,790; the aggregate market value of the collateral held by the fund is $36,336,238. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $218,208.
(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 DORSEY WRIGHT FSM ALL CAP WORLD 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
Exchange Traded Funds	$	85,971,230	$	-	$	-	$	85,971,230
Money Market Funds		36,645,999		-		-		36,645,999
Total	$	122,617,229	$	-	$	-	$	122,617,229

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of
	Net Assets
Equity Fund		99.6	%
Money Market Funds		42.4
Total Investments		142.0
Liabilities in Excess of Other Assets		(42.0	)
Net Assets		100.0	%