ACT: July 2020 Portfolio Manager Review
Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. For the fund’s most recent standardized and month-end performance, please click www.advisorshares.com/etfs/act.
The month of July was strong month for AdvisorShares Vice ETF (ACT). The Fund gained 8.65% on its net asset value (NAV) and 8.69% on its market price. The S&P 500 was up 5.64%. For the past 3 months, May through July 2020, the Fund returned 14.07 % on its net asset value (NAV) and 13.77% on its market price, while the S&P 500 returned 12.87% as the market continues to recover from the COVID-related lows back in March.
Contributors / Detractors
A number of the Fund’s largest holdings were also top performers in the month of July. Top holding Boston Beer (NYSE: SAM) was up more than 51% for the month. Other top contributors were stocks that we hold as cannabis related. Large holdings Thermo Fisher Scientific (NYSE: TMO) gained 14%, PerkinElmer (NYSE: PKI) gained 21%, Catalent Inc. (NYSE: CTLT) gained 19%, and Scotts Miracle Gro (NYSE: SMG) gained 17%. Other big contributors, but smaller holdings were: Turning Point Brands (NYSE: TPB) up 32% and New Age Beverages up a big 48%.
On the negative side, RCI Hospitality Holdings (NASDAQ: RICK) lost more than 12%. Other particular losers were tobacco companies, British American Tobacco ADR (NYSE: BTI), Imperial Brands PLC (OTC: IMBBY), and Vector Group Ltd (NYSE: VGR).
|Ticker||Security Description||Portfolio Weight %|
|SAM||BOSTON BEER COMPANY INC-A||10.22%|
|TMO||THERMO FISHER SCIENTIFIC INC||8.19%|
|BF/B||BROWN-FORMAN CORP-CLASS B||4.92%|
|LVMUY||LVMH MOET HENNESSY-UNSP ADR||4.66%|
|NVS||NOVARTIS AG-SPONSORED ADR||4.46%|
|MGPI||MGP INGREDIENTS INC||4.24%|
As of 7.31.2020. Cash is excluded.
Please see our complete Fund holdings at advisorshares.com/etfs/act. The holdings details are updated each market day.
Past Manager Commentary