ADVISORSHARES RESTAURANT ETF

Schedule of Investments

March 31, 2024 (Unaudited)

Investments	Shares		Value
COMMON STOCKS – 99.8%
Food – 4.5%
US Foods Holding Corp.(a)		2,580	$	139,243
Food Service – 3.5%
Aramark		3,270		106,340
Retail – 91.8%
Arcos Dorados Holdings, Inc., Class A (Brazil)		13,383		148,819
BJ’s Restaurants, Inc.(a)		2,407		87,085
Bloomin’ Brands, Inc.		3,204		91,891
Brinker International, Inc.(a)		3,131		155,548
Casey’s General Stores, Inc.		490		156,040
Cava Group, Inc.(a)		2,350		164,618
Chipotle Mexican Grill, Inc.(a)		53		154,059
Chuy’s Holdings, Inc.(a)		2,505		84,494
Darden Restaurants, Inc.		699		116,838
Dave & Buster’s Entertainment, Inc.(a)		1,442		90,269
Dine Brands Global, Inc.		1,909		88,730
Domino’s Pizza, Inc.		319		158,505
Dutch Bros, Inc., Class A(a)		4,210		138,930
El Pollo Loco Holdings, Inc.(a)		9,508		92,608
Jack in the Box, Inc.		1,129		77,314
McDonald’s Corp.		396		111,652
Potbelly Corp.(a)		8,100		98,091
Red Robin Gourmet Burgers, Inc.(a)		8,412		64,436
Restaurant Brands International, Inc. (Canada)		1,700		135,065
Shake Shack, Inc., Class A(a)		1,258		130,870
Starbucks Corp.		901		82,342
Texas Roadhouse, Inc.		641		99,015
Wingstop, Inc.		469		171,842
Yum! Brands, Inc.		986		136,709
Total Retail				2,835,770
Total Common Stocks (Cost $2,459,584)				3,081,353
MONEY MARKET FUND – 1.6%
BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 5.21%(b) (Cost $50,352)		50,352		50,352
Total Investments – 101.4% (Cost $2,509,936)				3,131,705
Liabilities in Excess of Other Assets – (1.4%)				(42,919	)
Net Assets – 100.0%			$	3,088,786

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

ADVISORSHARES RESTAURANT 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	$	3,081,353	$	-	$	-	$	3,081,353
Money Market Fund		50,352		-		-		50,352
Total	$	3,131,705	$	-	$	-	$	3,131,705

SUMMARY OF SCHEDULE OF INVESTMENTS

	% of
	Net Assets
Food		4.5	%
Food Service		3.5
Retail		91.8
Money Market Fund		1.6
Total Investments		101.4
Liabilities in Excess of Other Assets		(1.4	)
Net Assets		100.0	%