ADVISORSHARES VICE ETF

Schedule of Investments

September 30, 2023 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 98.8%
Agriculture – 16.7%
Altria Group, Inc.		1,610	$	67,701
British American Tobacco PLC (United Kingdom)(a)		10,240		321,638
Imperial Brands PLC (United Kingdom)(a)		7,437		152,161
Philip Morris International, Inc.		879		81,378
Turning Point Brands, Inc.		14,960		345,426
Vector Group Ltd.		25,763		274,118
Total Agriculture				1,242,422
Apparel – 4.8%
LVMH Moet Hennessy Louis Vuitton SE (France)(a)		2,389		361,002
Beverages – 24.6%
Ambev SA (Brazil)(a)		62,461		161,149
Anheuser-Busch InBev SA/NV (Belgium)(a)		1,408		77,862
Carlsberg A/S, Class B (Denmark)(a)		3,063		77,065
Cia Cervecerias Unidas SA (Chile)(a)		25,869		325,949
Diageo PLC (United Kingdom)(a)		395		58,926
Duckhorn Portfolio, Inc. (The)*		11,998		123,100
Heineken NV (Netherlands)(a)		3,270		144,469
Kirin Holdings Co., Ltd. (Japan)(a)		11,650		163,100
MGP Ingredients, Inc.		3,539		373,294
Molson Coors Beverage Co., Class B		5,158		327,997
Total Beverages				1,832,911
Entertainment – 6.9%
Everi Holdings, Inc.*		26,517		350,555
International Game Technology PLC		5,487		166,366
Total Entertainment				516,921
Food – 3.6%
Hershey Co. (The)		1,322		264,506
Lodging – 8.0%
Boyd Gaming Corp.		5,727		348,373
MGM Resorts International		6,813		250,446
Total Lodging				598,819
REITS – 8.1%
Gaming and Leisure Properties, Inc.		6,192		282,046
VICI Properties, Inc.		11,013		320,478
Total REITS				602,524
Retail – 15.7%
BJ’s Restaurants, Inc.*		13,106		307,467
Carrols Restaurant Group, Inc.*		58,902		388,164
Dave & Buster’s Entertainment, Inc.*		4,302		159,475
Wingstop, Inc.		1,758		316,159
Total Retail				1,171,265
Semiconductors – 5.0%
NVIDIA Corp.		850		369,741
Software – 5.4%
NetEase, Inc. (China)(a)		4,010		401,642
Total Common Stocks
(Cost $7,571,092)				7,361,753
MONEY MARKET FUND – 1.4%
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 5.23%(b)
(Cost $102,442)		102,442		102,442
Total Investments – 100.2%
(Cost $7,673,534)				7,464,195
Liabilities in Excess of Other Assets – (0.2%)				(14,484	)
Net Assets – 100.0%			$	7,449,711

PLC - Public Limited Company

REITS - Real Estate Investment Trusts

*	Non-income producing security.
(a)	American Depositary Receipt.
(b)	Rate shown reflects the 7-day yield as of September 30, 2023.

ADVISORSHARES VICE 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	$	7,361,753	$	-	$	-	$	7,361,753
Money Market Fund		102,442		-		-		102,442
Total	$	7,464,195	$	-	$	-	$	7,464,195

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of Net Assets
Agriculture		16.7	%
Apparel		4.8
Beverages		24.6
Entertainment		6.9
Food		3.6
Lodging		8.0
REITS		8.1
Retail		15.7
Semiconductors		5.0
Software		5.4
Money Market Fund		1.4
Total Investments		100.2
Liabilities in Excess of Other Assets		(0.2	)
Net Assets		100.0	%