ADVISORSHARES TR

Ticker: DWUS CUSIP: 00768Y487 Class: DORSY FSM US

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (3)

LOGAN CAPITAL MANAGEMENT INC

Value ($000) $434 Shares 7,995

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $268 Shares 4,943

Value ($000) $15 Shares 268

Institution	Shares	Value ($000)
LOGAN CAPITAL MANAGEMENT INC	7,995	$434
SUSQUEHANNA INTERNATIONAL GROUP, LLP	4,943	$268
UBS Group AG	268	$15

Increased Positions (5)

OSAIC HOLDINGS, INC.

Value ($000) $22,257 (+1.8%) Shares 410,508 (+1.6%)

MML INVESTORS SERVICES, LLC

Value ($000) $1,750 (+21.5%) Shares 32,283 (+21.7%)

Private Advisory Group LLC

Value ($000) $241 (+7.4%) Shares 4,449 (+7.6%)

Value ($000) $154 (+44.2%) Shares 2,840 (+44.5%)

COMMONWEALTH EQUITY SERVICES, LLC

Value ($000) $513 (+103820.9%) Shares 9,471 (+4.1%)

Institution	Prev Shares	Curr Shares	Change
OSAIC HOLDINGS, INC.	404,087	410,508	+6,421 (+1.6%)
MML INVESTORS SERVICES, LLC	26,516	32,283	+5,767 (+21.7%)
Private Advisory Group LLC	4,133	4,449	+316 (+7.6%)
MORGAN STANLEY	1,966	2,840	+874 (+44.5%)
COMMONWEALTH EQUITY SERVICES, LLC	9,096	9,471	+375 (+4.1%)

Decreased Positions (1)

LPL Financial LLC

Value ($000) $457 (-10.0%) Shares 8,428 (-9.9%)

Institution	Prev Shares	Curr Shares	Change
LPL Financial LLC	9,350	8,428	-922 (-9.9%)

Exited Positions (1)

Steward Partners Investment Advisory, LLC

Value ($000) $4 Shares 81

Institution	Prev Shares	Prev Value ($000)
Steward Partners Investment Advisory, LLC	81	$4