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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <title>DREY INST PREF GOV MM-M</title>
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        <identifiers>
          <ticker value="DSVXX"/>
          <other otherDesc="INTERNAL" value="BYM4CH2D2"/>
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        <units>NS</units>
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        <valUSD>15208418.20000000</valUSD>
        <pctVal>20.06570656075</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <cashCollateralCondition cashCollateralVal="15208418.20000000" isCashCollateral="Y"/>
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    <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>2025-05-23</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>
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  <documents>XXXX</documents>
</edgarSubmission>
