ADVISORSHARES PURE CANNABIS ETF
Schedule of Investments
March 31, 2024 (Unaudited)
| Investments | Shares | Value | ||||||
| COMMON STOCKS – 48.6% | ||||||||
| Agriculture – 8.2% | ||||||||
| Village Farms International, Inc. (Canada)(a) | 3,435,936 | $ | 4,260,561 | |||||
| Distributors – 7.1% | ||||||||
| High Tide, Inc. (Canada)(a)(b) | 1,828,968 | 3,712,805 | ||||||
| Investment Company – 0.6% | ||||||||
| RIV Capital, Inc. (Canada)(a) | 4,975,540 | 330,906 | ||||||
| Pharmaceuticals – 24.2% | ||||||||
| Canopy Growth Corp. (Canada)(a)(b) | 36,922 | 318,637 | ||||||
| Cardiol Therapeutics, Inc., Class A (Canada)(a)(b) | 1,301,978 | 2,356,580 | ||||||
| Charlottes Web Holdings, Inc.(a)(b) | 2,112,115 | 429,212 | ||||||
| Clever Leaves Holdings, Inc. (Canada)(a) | 34,571 | 168,361 | ||||||
| Cronos Group, Inc. (Canada)(a) | 803,404 | 2,096,884 | ||||||
| Hempfusion Wellness, Inc. (Canada)(a) | 1,762,927 | 18 | ||||||
| IM Cannabis Corp. (Canada)(a) | 446,676 | 236,738 | ||||||
| Jazz Pharmaceuticals PLC(a) | 9,900 | 1,192,158 | ||||||
| Organigram Holdings, Inc. (Canada)(a) | 894,658 | 1,923,515 | ||||||
| PharmaCielo Ltd. (Canada)(a) | 338,496 | 51,278 | ||||||
| SNDL, Inc. (Canada)(a) | 1,109,212 | 2,223,970 | ||||||
| Tilray Brands, Inc. (Canada)(a)(b) | 674,900 | 1,667,003 | ||||||
| Total Pharmaceuticals | 12,664,354 | |||||||
| REITS – 5.3% | ||||||||
| AFC Gamma, Inc. | 108,606 | 1,344,542 | ||||||
| Chicago Atlantic Real Estate Finance, Inc. | 89,361 | 1,409,223 | ||||||
| Power REIT(a) | 13,820 | 10,505 | ||||||
| Total REITS | 2,764,270 | |||||||
| Specialty Retail – 3.2% | ||||||||
| GrowGeneration Corp.(a) | 247,182 | 706,940 | ||||||
| Ispire Technology, Inc.(a) | 159,858 | 979,929 | ||||||
| Total Specialty Retail | 1,686,869 | |||||||
| Total Common Stocks (Cost $83,896,543) |
25,419,765 | |||||||
| EXCHANGE TRADED FUND – 44.8% | ||||||||
| Equity Fund – 44.8% | ||||||||
| AdvisorShares Pure US Cannabis ETF†(a) (Cost $37,351,566) |
2,337,818 | 23,401,558 | ||||||
| MONEY MARKET FUNDS – 10.8% | ||||||||
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 5.21%(c) | 3,481,892 | 3,481,892 | ||||||
| Dreyfus Institutional Preferred Government Money Market Fund, Institutional Class, 5.27%(c)(d) | 2,120,003 | 2,120,003 | ||||||
| Total Money Market Funds (Cost $5,601,895) |
5,601,895 | |||||||
| Total Investments – 104.2% (Cost $126,850,004) |
54,423,218 | |||||||
| Liabilities in Excess of Other Assets – (4.2%) | (2,193,061 | ) | ||||||
| Net Assets – 100.0% | $ | 52,230,157 | ||||||
PLC - Public Limited Company
REITS - Real Estate Investment Trusts
| † | Affiliated Company. |
| (a) | Non-income producing security. |
| (b) | All or a portion of security is on loan. The aggregate market value of the securities on loan is $1,939,136; the aggregate market value of the collateral held by the fund is $2,497,760. The aggregate market value of the collateral includes non-cash U.S. Treasury securities collateral having a value of $377,757. |
| (c) | Rate shown reflects the 7-day yield as of March 31, 2024. |
| (d) | Collateral received from brokers for securities lending was invested in these short-term investments. |
ADVISORSHARES PURE CANNABIS 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 | $ | 25,419,765 | $ | - | $ | - | $ | 25,419,765 | ||||||||
| Exchange Traded Fund | 23,401,558 | - | - | 23,401,558 | ||||||||||||
| Money Market Funds | 5,601,895 | - | - | 5,601,895 | ||||||||||||
| Total | $ | 54,423,218 | $ | - | $ | - | $ | 54,423,218 | ||||||||
SUMMARY OF SCHEDULE OF INVESTMENTS
| |
|
% of Net Assets |
| |
| Agriculture | 8.2 | % | ||
| Distributors | 7.1 | |||
| Equity Fund | 44.8 | |||
| Investment Company | 0.6 | |||
| Pharmaceuticals | 24.2 | |||
| REITS | 5.3 | |||
| Specialty Retail | 3.2 | |||
| Money Market Funds | 10.8 | |||
| Total Investments | 104.2 | |||
| Liabilities in Excess of Other Assets | (4.2 | ) | ||
| Net Assets | 100.0 | % | ||
ADVISORSHARES PURE CANNABIS ETF
Schedule of Investments (continued)
March 31, 2024 (Unaudited)
Affiliated holdings are investments or an affiliate of the Trust. Transactions with affiliated companies during the period ended March 31, 2024 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 3/31/2024 |
Value at 3/31/2024 |
Dividend Income |
||||||||||||||||||||||||
| AdvisorShares Pure US Cannabis ETF | $ | 19,211,102 | $ | - | $ | (8,967,839 | ) | $ | (21,382,897 | ) | $ | 34,541,192 | 2,337,818 | $ | 23,401,558 | $ | - | |||||||||||||||