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        <name>AbbVie Inc.</name>
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        <title>AbbVie Inc. COM</title>
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      <invstOrSec>
        <name>Neurocrine Biosciences Inc</name>
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      <invstOrSec>
        <name>Enveric Biosciences Inc</name>
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      <invstOrSec>
        <name>Quantum Biopharma Ltd</name>
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        <title>Quantum Biopharma Ltd CL B SUB VTG SHS</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alkermes PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cybin Inc</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Neuphoria Therapeutics Inc</name>
        <lei>N/A</lei>
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        <cusip>64136E102</cusip>
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          <isin value="US64136E1029"/>
          <ticker value="NEUP"/>
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      <invstOrSec>
        <name>Supernus Pharmaceuticals, Inc</name>
        <lei>549300GRM36VBKISYJ58</lei>
        <title>Supernus Pharmaceuticals, Inc COM</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DEFINIUM THERAPEUTICS INC</name>
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        <title>Definium Therapeutics Inc. COM SHS</title>
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          <ticker value="DFTX"/>
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        <invCountry>CA</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>NRX Pharmaceuticals Inc</name>
        <lei>5493003FN4CLS0670T77</lei>
        <title>NRX Pharmaceuticals Inc COM NEW</title>
        <cusip>629444209</cusip>
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          <isin value="US6294442099"/>
          <ticker value="NRXP"/>
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        <fairValLevel>1</fairValLevel>
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        <name>VISTAGEN THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>Vistagen Therapeutics Inc. COM</title>
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          <isin value="US92840H4002"/>
          <ticker value="VTGN"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>UNBUZZD WELLNESS INC</name>
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        <title>Quantum Biopharma Ltd N/C FROM QUANTUM BIOPHARMA LTD TO UNBUZZ</title>
        <cusip>90429T100</cusip>
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          <isin value="CA90429T1003"/>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bright Minds Biosciences Inc</name>
        <lei>N/A</lei>
        <title>Bright Minds Biosciences Inc COM NEW</title>
        <cusip>10919W405</cusip>
        <identifiers>
          <isin value="CA10919W4056"/>
          <ticker value="DRUG"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Relmada Therapeutics Inc.</name>
        <lei>549300217EASRZ9JSF81</lei>
        <title>Relmada Therapeutics Inc. COM</title>
        <cusip>75955J402</cusip>
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          <isin value="US75955J4022"/>
          <ticker value="RLMD"/>
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        <fairValLevel>1</fairValLevel>
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        <name>ATAIBECKLEY INC</name>
        <lei>529900HOVZ0MXOBQ5Y47</lei>
        <title>Ataibeckley Inc. COM SHS</title>
        <cusip>04650F101</cusip>
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          <isin value="US04650F1012"/>
          <ticker value="ATAI"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson COM</title>
        <cusip>478160104</cusip>
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          <isin value="US4781601046"/>
          <ticker value="JNJ"/>
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        <assetCat>EC</assetCat>
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        <name>Silo Pharma Inc</name>
        <lei>N/A</lei>
        <title>Silo Pharma Inc COM NEW</title>
        <cusip>82711P201</cusip>
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          <ticker value="SILO"/>
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        <name>Clearmind Medicine Inc.</name>
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        <invCountry>CA</invCountry>
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        <name>Numinus Wellness Inc</name>
        <lei>894500HQ7NI16XOI3241</lei>
        <title>Numinus Wellness Inc COM</title>
        <cusip>67054W103</cusip>
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          <ticker value="NUMIF"/>
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        <name>DREY INST PREF GOV MM-M</name>
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        <title>DREY INST PREF GOV MM-M</title>
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        <name>Gh Research Plc</name>
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        <name>PASITHEA THERAPEUTICS CORP</name>
        <lei>N/A</lei>
        <title>Pasithea Therapeutics Corporation COM NEW</title>
        <cusip>70261F202</cusip>
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          <ticker value="KTTA"/>
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        <name>BLACKROCK TREASURY TRUST</name>
        <lei>N/A</lei>
        <title>BLACKROCK TREASURY TRUST</title>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Compass Pathways plc</name>
        <lei>213800N7CUZIC6QSTZ31</lei>
        <title>Compass Pathways plc SPONSORED ADS</title>
        <cusip>20451W101</cusip>
        <identifiers>
          <isin value="US20451W1018"/>
          <ticker value="CMPS"/>
        </identifiers>
        <balance>246739.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1364466.67000000</valUSD>
        <pctVal>6.738505815421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="159319.30000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-21</ncom:dateSigned>
      <ncom:nameOfApplicant>AdvisorShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Dan Ahrens</ncom:signature>
      <ncom:signerName>Dan Ahrens</ncom:signerName>
      <ncom:title>Secretary and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
