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        <fairValLevel>1</fairValLevel>
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        <name>ELBIT SYSTEMS LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TELEFONICA BRASIL SA</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>ROLLS-ROYCE HOLDINGS PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PETROLEO BRASILEIRO SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BARCLAYS PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>ASE TECHNOLOGY HOLDING CO LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>TELEFONAKTIEBOLAGET LM ERICSSON</name>
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        <fairValLevel>1</fairValLevel>
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        <name>E.ON SE</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BANCO BILBAO VIZCAYA ARGENTARIA SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AERCAP HOLDINGS NV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DREY INST PREF GOV MM-M</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NOVARTIS AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG SPONSORED ADR</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GROUP INC</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINANCIAL GROUP INC SPONSORED ADR</title>
        <cusip>86562M209</cusip>
        <identifiers>
          <isin value="US86562M2098"/>
          <ticker value="SMFG"/>
        </identifiers>
        <balance>54800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1292184.00000000</valUSD>
        <pctVal>3.097638979701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1266340.32000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FINANCIAL GROUP INC</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINANCIAL GROUP INC SPONSORED ADS</title>
        <cusip>606822104</cusip>
        <identifiers>
          <isin value="US6068221042"/>
          <ticker value="MUFG"/>
        </identifiers>
        <balance>94296.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1875547.44000000</valUSD>
        <pctVal>4.496084813325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1139537.88000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLD FIELDS LTD</name>
        <lei>5299003KXIBJQYCBBD72</lei>
        <title>GOLD FIELDS LTD SPONSORED ADR</title>
        <cusip>38059T106</cusip>
        <identifiers>
          <isin value="US38059T1060"/>
          <ticker value="GFI"/>
        </identifiers>
        <balance>38964.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1308800.76000000</valUSD>
        <pctVal>3.137472876028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VEON LTD</name>
        <lei>5493008CA3NMHYEVT131</lei>
        <title>VEON LTD SPONSORED ADS</title>
        <cusip>91822M502</cusip>
        <identifiers>
          <isin value="US91822M5022"/>
          <ticker value="VEON"/>
        </identifiers>
        <balance>15958.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>833167.18000000</valUSD>
        <pctVal>1.997278354611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STMICROELECTRONICS NV</name>
        <lei>213800Z8NOHIKRI42W10</lei>
        <title>STMICROELECTRONICS NV NY REGISTRY</title>
        <cusip>861012102</cusip>
        <identifiers>
          <isin value="US8610121027"/>
          <ticker value="STM"/>
        </identifiers>
        <balance>12070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>903922.30000000</valUSD>
        <pctVal>2.166893376718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUINOR ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>EQUINOR ASA SPONSORED ADR</title>
        <cusip>29446M102</cusip>
        <identifiers>
          <isin value="US29446M1027"/>
          <ticker value="EQNR"/>
        </identifiers>
        <balance>27186.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>853640.40000000</valUSD>
        <pctVal>2.046357003095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA YUCHAI INTERNATIONAL LTD</name>
        <lei>529900DHISUGAY2ARU76</lei>
        <title>CHINA YUCHAI INTERNATIONAL LTD COM</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG210821051"/>
          <ticker value="CYD"/>
        </identifiers>
        <balance>39274.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1861980.34000000</valUSD>
        <pctVal>4.463561598519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENI SPA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>ENI SPA SPONSORED ADR</title>
        <cusip>26874R108</cusip>
        <identifiers>
          <isin value="US26874R1086"/>
          <ticker value="E"/>
        </identifiers>
        <balance>17998.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>843386.28000000</valUSD>
        <pctVal>2.021775703671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FOMENTO ECONOMICO MEXICANO SAB DE CV</name>
        <lei>549300A8MDWDJNMLV153</lei>
        <title>FOMENTO ECONOMICO MEXICANO SAB DE CV SPON ADR UNITS</title>
        <cusip>344419106</cusip>
        <identifiers>
          <isin value="US3444191064"/>
          <ticker value="FMX"/>
        </identifiers>
        <balance>6850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>876115.00000000</valUSD>
        <pctVal>2.100233383713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SASOL LTD</name>
        <lei>378900F4544561A97588</lei>
        <title>SASOL LTD SPONSORED ADR</title>
        <cusip>803866300</cusip>
        <identifiers>
          <isin value="US8038663006"/>
          <ticker value="SSL"/>
        </identifiers>
        <balance>87017.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>854506.94000000</valUSD>
        <pctVal>2.048434283174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK TELECOM CO LTD</name>
        <lei>9884003WEA1PHW006037</lei>
        <title>SK TELECOM CO LTD SPONSORED ADR</title>
        <cusip>78440P306</cusip>
        <identifiers>
          <isin value="US78440P3064"/>
          <ticker value="SKM"/>
        </identifiers>
        <balance>28572.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>918875.52000000</valUSD>
        <pctVal>2.202739415009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</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>2026-08-21</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>
</edgarSubmission>
