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        <name>BOFA SECURITIES, INC.</name>
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        <name>Seelos Therapeutics Inc</name>
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        <name>COWEN INC.</name>
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        <name>ATAI Life Sciences NV</name>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>RBC DOMINION SECURITIES INC.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BLACKROCK TREASURY TRUST</name>
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        <fairValLevel>1</fairValLevel>
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        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS EMPOWER CLINICS</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Greenbrook TMS Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS HAVN LIFE SCIENCES</title>
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        <name>COWEN INC.</name>
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        <name>COWEN INC.</name>
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        <name>COWEN INC.</name>
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        <name>DAIWA CAPITAL MARKETS AMERICA INC.</name>
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        <name>Small Pharma Inc</name>
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        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS NOVAMIND INC</title>
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        <name>PsyBio Therapeutics Corp</name>
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        <name>COWEN INC.</name>
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        <name>COWEN INC.</name>
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        <name>COWEN INC.</name>
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        <name>Numinus Wellness Inc</name>
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        <name>Mind Medicine MindMed Inc</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS PSYCHED WELLNESS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="PSYCFFFS"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>14917.85000000</valUSD>
        <pctVal>0.222723696480</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>PSYCHED WELLNESS LTD</issuerName>
                <issueTitle>PSYCHED WELLNESS LTD</issueTitle>
                <identifiers>
                  <cusip value="74447P100"/>
                  <isin value="CA74447P1009"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="PSYCHED WELLNESS" floatingRtSpread="0.00000000" pmntAmt="-0.16000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2022-12-19</terminationDt>
            <upfrontPmnt>23200.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>160000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-8282.15000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GH Research PLC</name>
        <lei>875500HKJS7QQG6EWH62</lei>
        <title>GH Research PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE000GID8VI0"/>
          <ticker value="GHRS"/>
        </identifiers>
        <balance>14242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>332265.86000000</valUSD>
        <pctVal>4.960733654873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="186640.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enveric Biosciences Inc</name>
        <lei>549300CATCWKUQ6G5854</lei>
        <title>Enveric Biosciences Inc</title>
        <cusip>29405E109</cusip>
        <identifiers>
          <isin value="US29405E1091"/>
          <ticker value="ENVB"/>
        </identifiers>
        <balance>300524.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>279487.32000000</valUSD>
        <pctVal>4.172749359306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </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>2022-02-18</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>
</edgarSubmission>
