ADVISORSHARES ALPHA DNA EQUITY SENTIMENT ETF

Schedule of Investments

September 30, 2023 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 97.1%
Auto Manufacturers – 0.9%
General Motors Co.		3,322	$	109,526
Auto Parts & Equipment – 0.9%
Aptiv PLC*		1,096		108,055
Banks – 3.9%
Customers Bancorp, Inc.*		3,380		116,441
JPMorgan Chase & Co.		778		112,826
OFG Bancorp (Puerto Rico)		3,805		113,617
Preferred Bank/Los Angeles CA		1,759		109,498
Total Banks				452,382
Biotechnology – 10.6%
ANI Pharmaceuticals, Inc.*		1,856		107,759
Arcus Biosciences, Inc.*		5,709		102,477
Bicycle Therapeutics PLC (United Kingdom)*(a)(b)		5,344		107,361
Dynavax Technologies Corp.*		7,846		115,885
Guardant Health, Inc.*		3,781		112,069
ImmunoGen, Inc.*		7,445		118,152
Legend Biotech Corp.*(b)		1,725		115,868
Mirati Therapeutics, Inc.*(a)		2,507		109,205
NeoGenomics, Inc.*(a)		8,880		109,224
Regeneron Pharmaceuticals, Inc.*		139		114,392
Xencor, Inc.*		5,461		110,039
Total Biotechnology				1,222,431
Building Materials – 7.5%
AZEK Co., Inc. (The)*		3,556		105,756
Builders FirstSource, Inc.*		890		110,796
Carrier Global Corp.(a)		2,022		111,614
Eagle Materials, Inc.		680		113,234
Fortune Brands Innovations, Inc.		1,726		107,288
Owens Corning		791		107,900
Summit Materials, Inc., Class A*		3,586		111,668
Trex Co., Inc.*		1,665		102,614
Total Building Materials				870,870
Chemicals – 0.9%
Sherwin-Williams Co. (The)		428		109,161
Commercial Services – 1.9%
PROG Holdings, Inc.*		3,475		115,405
Toast, Inc., Class A*(a)		5,854		109,645
Total Commercial Services				225,050
Computers – 1.1%
Zscaler, Inc.*		847		131,785
Cosmetics/Personal Care – 2.0%
Coty, Inc., Class A*		10,886		119,419
elf Beauty, Inc.*		1,007		110,599
Total Cosmetics/Personal Care				230,018
Electronics – 1.9%
Camtek Ltd. (Israel)*		1,784		111,072
Woodward, Inc.		877		108,976
Total Electronics				220,048
Engineering & Construction – 0.9%
TopBuild Corp.*		435		109,446
Healthcare - Products – 5.8%
Alphatec Holdings, Inc.*		8,821		114,408
Castle Biosciences, Inc.*		6,613		111,694
Exact Sciences Corp.*		1,652		112,699
Insulet Corp.*		700		111,643
LeMaitre Vascular, Inc.		1,983		108,034
RxSight, Inc.*		4,008		111,783
Total Healthcare - Products				670,261
Healthcare - Services – 1.9%
Accolade, Inc.*		10,151		107,397
Addus HomeCare Corp.*		1,278		108,873
Total Healthcare - Services				216,270
Home Builders – 2.9%
Beazer Homes USA, Inc.*		4,361		108,632
D.R. Horton, Inc.		993		106,718
Lennar Corp., Class A		1,118		125,473
Total Home Builders				340,823
Insurance – 1.0%
Trupanion, Inc.*(a)		4,075		114,915
Internet – 8.6%
Alphabet, Inc., Class A*		838		109,661
Amazon.com, Inc.*		832		105,764
Lyft, Inc., Class A*		11,092		116,910
Meta Platforms, Inc., Class A*		352		105,674
Okta, Inc.*		1,362		111,017
Shopify, Inc., Class A (Canada)*		2,027		110,613
Sprinklr, Inc., Class A*		7,706		106,651
Wayfair, Inc., Class A*		1,837		111,267
Wix.com Ltd. (Israel)*		1,222		112,179
Total Internet				989,736
Investment Companies – 1.0%
Sixth Street Specialty Lending, Inc.		5,381		109,988
Leisure Time – 0.9%
OneSpaWorld Holdings Ltd. (Bahamas)*		9,767		109,586
Machinery - Construction & Mining – 1.9%
Caterpillar, Inc.		394		107,562
Oshkosh Corp.		1,138		108,599
Total Machinery - Construction & Mining				216,161
Machinery - Diversified – 1.9%
AGCO Corp.		948		112,129
Rockwell Automation, Inc.		377		107,773
Total Machinery - Diversified				219,902
Miscellaneous Manufacturing – 0.9%
Eaton Corp. PLC		495		105,574
Oil & Gas – 9.0%
CNX Resources Corp.*		4,981		112,471
Delek US Holdings, Inc.		3,716		105,572
Diamondback Energy, Inc.		724		112,133
Marathon Petroleum Corp.		813		123,039
Phillips 66		1,039		124,836
Pioneer Natural Resources Co.		548		125,793
SM Energy Co.		2,838		112,527
Valero Energy Corp.		749		106,141
Vital Energy, Inc.*		2,045		113,334
Total Oil & Gas				1,035,846
Pharmaceuticals – 5.6%
Arvinas, Inc.*		5,050		99,182
Eli Lilly & Co.		196		105,277
Marinus Pharmaceuticals, Inc.*		13,793		111,034
Merus NV (Netherlands)*		4,941		116,509
Neurocrine Biosciences, Inc.*		962		108,225
uniQure NV (Netherlands)*		15,964		107,118
Total Pharmaceuticals				647,345

ADVISORSHARES ALPHA DNA EQUITY SENTIMENT ETF

Schedule of Investments (continued)

September 30, 2023 (Unaudited)

Investments	Shares		Value
COMMON STOCKS (continued)
Retail – 3.0%
Carrols Restaurant Group, Inc.*		16,351	$	107,753
Home Depot, Inc. (The)		424		128,116
Walmart, Inc.		686		109,712
Total Retail				345,581
Semiconductors – 4.8%
Applied Materials, Inc.		794		109,929
Intel Corp.		3,200		113,760
NVIDIA Corp.		273		118,752
ON Semiconductor Corp.*		1,159		107,729
Qorvo, Inc.*		1,135		108,359
Total Semiconductors				558,529
Software – 12.5%
Amplitude, Inc., Class A*		9,100		105,287
AppLovin Corp., Class A*		2,819		112,647
Braze, Inc., Class A*		2,437		113,881
Clear Secure, Inc., Class A(a)		5,774		109,937
Docusign, Inc.*		2,629		110,418
HubSpot, Inc.*		231		113,768
Monday.com Ltd.*		694		110,499
MongoDB, Inc.*		332		114,826
Nutanix, Inc., Class A*		3,257		113,604
Olo, Inc., Class A*		17,908		108,522
Procore Technologies, Inc.*		1,685		110,064
ServiceNow, Inc.*		197		110,115
Unity Software, Inc.*		3,478		109,174
Total Software				1,442,742
Telecommunications – 1.0%
Arista Networks, Inc.*		599		110,174
Transportation – 1.0%
Teekay Tankers Ltd., Class A (Canada)		2,677		111,444
Trucking & Leasing – 0.9%
Greenbrier Cos., Inc. (The)		2,652		106,080
Total Common Stocks
(Cost $11,567,748)				11,239,729
MONEY MARKET FUNDS – 4.8%
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 5.30%(c)(d)		203,641		203,641
Fidelity Investments Money Market Government Portfolio – Class I, 5.23%(c)		357,114		357,114
Total Money Market Funds
(Cost $560,755)				560,755

	Notional Amount		Contracts		Value
PURCHASED PUT OPTIONS – 2.0%
SPDR S&P 500 ETF Trust, expiring 01/19/24, Strike Price $167.00 (Cost $155,687)	$	7,531,700		451	$	163,262
Shares Russell 2000 ETF, expiring 11/17/23, Strike Price $429.00 (Cost $48,497)		3,432,000		80		72,520
Total Purchased Put Options
(Cost $204,184)						235,782
Total Investments – 103.9%
(Cost $12,332,687)						12,036,266
Liabilities in Excess of Other Assets – (3.9%)						(461,188	)
Net Assets – 100.0%					$	11,575,078

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 $642,046; the aggregate market value of the collateral held by the fund is $658,431. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $454,790.
(b)	American Depositary Receipt.
(c)	Rate shown reflects the 7-day yield as of September 30, 2023.
(d)	Collateral received from brokers for securities lending was invested in these short-term investments.

ADVISORSHARES ALPHA DNA EQUITY SENTIMENT 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	$	11,239,729	$	-	$	-	$	11,239,729
Money Market Funds		560,755		-		-		560,755
Purchased Put Options		235,782		-		-		235,782
Total	$	12,036,266	$	-	$	-	$	12,036,266

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of
	Net Assets
Auto Manufacturers		0.9	%
Auto Parts & Equipment		0.9
Banks		3.9
Biotechnology		10.6
Building Materials		7.5
Chemicals		0.9
Commercial Services		1.9
Computers		1.1
Cosmetics/Personal Care		2.0
Electronics		1.9
Engineering & Construction		0.9
Healthcare - Products		5.8
Healthcare - Services		1.9
Home Builders		2.9
Insurance		1.0
Internet		8.6
Investment Companies		1.0
Leisure Time		0.9
Machinery - Construction & Mining		1.9
Machinery - Diversified		1.9
Miscellaneous Manufacturing		0.9
Oil & Gas		9.0
Pharmaceuticals		5.6
Purchased Put Option		2.0
Retail		3.0
Semiconductors		4.8
Software		12.5
Telecommunications		1.0
Transportation		1.0
Trucking & Leasing		0.9
Money Market Funds		4.8
Total Investments		103.9
Liabilities in Excess of Other Assets		(3.9	)
Net Assets		100.0	%