ADVISORSHARES TR

Ticker: QPX CUSIP: 00768Y438 Class: DYNAMIC GROWTH

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

Increased Positions (3)

Legacy Wealth Managment, LLC/ID

Value ($000) $816 (+17.6%) Shares 18,336 (+13.5%)

Foundations Investment Advisors, LLC

Value ($000) $1,254 (+59.8%) Shares 28,163 (+54.2%)

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $510 (+50.6%) Shares 11,459 (+45.3%)

Institution	Prev Shares	Curr Shares	Change
Legacy Wealth Managment, LLC/ID	16,156	18,336	+2,180 (+13.5%)
Foundations Investment Advisors, LLC	18,262	28,163	+9,901 (+54.2%)
SUSQUEHANNA INTERNATIONAL GROUP, LLP	7,886	11,459	+3,573 (+45.3%)

Decreased Positions (5)

Rothschild Wealth LLC

Value ($000) $1,364 (-4.4%) Shares 30,639 (-7.8%)

AMERIFLEX GROUP, INC.

Value ($000) $47 (-48.2%) Shares 1,061 (-50.0%)

OSAIC HOLDINGS, INC.

Value ($000) $2,422 (-8.2%) Shares 54,395 (-16.7%)

Cetera Investment Advisers

Value ($000) $2,441 (-10.8%) Shares 54,828 (-13.9%)

Value ($000) $9 (-92.1%) Shares 199 (-92.3%)

Institution	Prev Shares	Curr Shares	Change
Rothschild Wealth LLC	33,214	30,639	-2,575 (-7.8%)
AMERIFLEX GROUP, INC.	2,122	1,061	-1,061 (-50.0%)
OSAIC HOLDINGS, INC.	65,275	54,395	-10,880 (-16.7%)
Cetera Investment Advisers	63,680	54,828	-8,852 (-13.9%)
UBS Group AG	2,597	199	-2,398 (-92.3%)

Exited Positions (1)

North Capital, Inc.

Value ($000) $2 Shares 40

Institution	Prev Shares	Prev Value ($000)
North Capital, Inc.	40	$2