ADVISORSHARES PSYCHEDELICS ETF

Schedule of Investments

September 30, 2023 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 93.9%
Biotechnology – 58.1%
ATAI Life Sciences NV (Germany)*		178,523	$	230,295
Bright Minds Biosciences, Inc. (Canada)*		167,930		267,009
Clearmind Medicine, Inc. (Canada)*		123,257		19,721
Cybin, Inc. (Canada)*		1,950,442		1,036,465
Enveric Biosciences, Inc.*†		146,833		339,184
GH Research PLC (Ireland)*(a)		46,323		465,546
Intra-Cellular Therapies, Inc.*		5,772		300,663
Mind Medicine MindMed, Inc.*		117,411		367,496
PsyBio Therapeutics Corp.*		2,994,817		21,263
Sage Therapeutics, Inc.*		16,415		337,821
Seelos Therapeutics, Inc.*		621,317		114,322
Small Pharma, Inc. (Canada)*		2,421,317		280,389
Total Biotechnology				3,780,174
Healthcare - Services – 9.8%
Field Trip Health & Wellness Ltd. (Canada)*(b)		1,058,415		0
Greenbrook TMS, Inc. (Canada)*		416,923		108,358
Lucy Scientific Discovery, Inc. (Canada)*		466,000		279,134
Numinus Wellness, Inc. (Canada)*		1,925,753		251,889
Total Healthcare - Services				639,381
Pharmaceuticals – 26.0%
Alkermes PLC*		14,461		405,053
Compass Pathways PLC (United Kingdom)*(a)(c)		89,518		662,433
FSD Pharma, Inc., Class B (Canada)*		235,637		285,121
Relmada Therapeutics, Inc.*		112,908		338,724
Total Pharmaceuticals				1,691,331
Total Common Stocks
(Cost $9,994,831)				6,110,886
MONEY MARKET FUNDS – 14.0%
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 5.23%(d)		399,314		399,314
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 5.30%(d)(e)		509,565		509,565
Total Money Market Funds
(Cost $908,879)				908,879
Total Investments – 107.9%
(Cost $10,903,710)				7,019,765
Liabilities in Excess of Other Assets – (7.9%)				(514,304	)
Net Assets – 100.0%			$	6,505,461

PLC - Public Limited Company

*	Non-income producing security.
†	Affiliated Company.
(a)	All or a portion of security is on loan. The aggregate market value of the securities on loan is $490,925; the aggregate market value of the collateral held by the fund is $509,565.
(b)	Fair valued using significant unobservable inputs.
(c)	American Depositary Receipt.
(d)	Rate shown reflects the 7-day yield as of September 30, 2023.
(e)	Collateral received from brokers for securities lending was invested in these short-term investments.

ADVISORSHARES PSYCHEDELICS ETF

Schedule of Investments (continued)

September 30, 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 September 30, 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	$	6,110,886	$	-	$	-	*	$	6,110,886
Money Market Funds		908,879		-		-			908,879
Total	$	7,019,765	$	-	$	-	*	$	7,019,765

* Less than $1.

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of Net Assets
Biotechnology		58.1	%
Healthcare - Services		9.8
Pharmaceuticals		26.0
Money Market Funds		14.0
Total Investments		107.9
Liabilities in Excess of Other Assets		(7.9	)
Net Assets		100.0	%

Affiliated holdings are funds which are managed by the Trust or an affiliate of the Trust. Transactions with affiliated companies during the period ended September 30, 2023 were as follows:

Affiliated Holding Name	Value at 6/30/2023		Purchases/ Additions		Sales/ Reductions			Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Number of Shares at 9/30/2023		Value at 9/30/2023		Dividend Income
Enveric Biosciences, Inc.	$	338,446	$	134,714	$	(7,736	)	$	(15,290	)	$	(110,950	)		146,833	$	339,184	$	-