ADVISORSHARES HOTEL ETF

Schedule of Investments

March 31, 2024 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 95.7%
Commercial Services – 4.4%
Target Hospitality Corp.(a)		16,965	$	184,410
Entertainment – 1.5%
Monarch Casino & Resort, Inc.		884		66,291
Internet – 20.8%
Airbnb, Inc., Class A(a)		458		75,552
Booking Holdings, Inc.		55		199,533
Expedia Group, Inc.(a)		1,417		195,192
Trip.com Group Ltd. (China)(a)(b)		4,764		209,092
TripAdvisor, Inc.(a)		7,112		197,642
Total Internet				877,011
Leisure Time – 5.4%
Royal Caribbean Cruises Ltd.(a)		1,632		226,864
Lodging – 35.0%
Boyd Gaming Corp.		2,853		192,064
Choice Hotels International, Inc.		456		57,615
GreenTree Hospitality Group Ltd. (China)(a)(b)		22,431		69,760
H World Group Ltd. (China)(b)		3,300		127,710
Hilton Grand Vacations, Inc.(a)		3,000		141,630
Hilton Worldwide Holdings, Inc.		767		163,609
Hyatt Hotels Corp., Class A		451		71,989
InterContinental Hotels Group PLC (United Kingdom)(b)		915		96,679
Marriott International, Inc., Class A		798		201,343
MGM Resorts International(a)		4,365		206,072
Wyndham Hotels & Resorts, Inc.		1,929		148,051
Total Lodging				1,476,522
REITS – 28.6%
Apple Hospitality REIT, Inc.		8,951		146,617
Gaming and Leisure Properties, Inc.		2,878		132,589
Host Hotels & Resorts, Inc.		9,578		198,073
Park Hotels & Resorts, Inc.		11,303		197,690
RLJ Lodging Trust		13,700		161,934
Ryman Hospitality Properties, Inc.		1,743		201,508
VICI Properties, Inc.		5,578		166,169
Total REITS				1,204,580
Total Common Stocks (Cost $3,426,171)				4,035,678
MONEY MARKET FUND – 5.0%
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 5.21%(c) (Cost $209,982)		209,982		209,982
Total Investments – 100.7% (Cost $3,636,153)				4,245,660
Liabilities in Excess of Other Assets – (0.7%)				(31,095	)
Net Assets – 100.0%			$	4,214,565

PLC - Public Limited Company

REITS - Real Estate Investment Trusts

(a)	Non-income producing security.
(b)	American Depositary Receipt.
(c)	Rate shown reflects the 7-day yield as of March 31, 2024.

ADVISORSHARES HOTEL ETF

Schedule of Investments (continued)

March 31, 2024 (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, 2024, 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	$	4,035,678	$	-	$	-	$	4,035,678
Money Market Fund		209,982		-		-		209,982
Total	$	4,245,660	$	-	$	-	$	4,245,660

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of
	Net Assets
Commercial Services		4.4	%
Entertainment		1.5
Internet		20.8
Leisure Time		5.4
Lodging		35.0
REITS		28.6
Money Market Fund		5.0
Total Investments		100.7
Liabilities in Excess of Other Assets		(0.7	)
Net Assets		100.0	%