BEDZ: 3rd Quarter 2021 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/bedz.
For the 3rd quarter, the AdvisorShares Hotel ETF (BEDZ) gained 3.59% on its net asset value (NAV) and 3.38% on its market price. The Fund launched on April 20, 2021 and in that short period, the Fund has returned 4.43% (NAV) and 4.40% (market price) through September 30, 2021. While we are happy with positive performance, COVID and employment concerns have continued to weigh on the travel industry.
Bluegreen Vacations Holding Corporation (NYSE: BVH) and Golden Entertainment, Inc (NASDAQ: GDEN) were both added to the portfolio during the quarter and are now top holdings. BVH in particular was a very successful trade and ended the quarter as the Fund’s top performer. Travel + Leisure Co (NYSE: TNL) and Penn National Gaming (NASDAQ: PENN) were also added during the quarter.
Contributors / Detractors:
Winners outnumbered losers in the quarter, and leisure and vacation-oriented stocks led the way. The portfolio’s stocks that were down during the quarter were quite varied and seemed company-specific.
Investors in a focused travel related Fund should have a long-term focus. While the Fund’s overall performance is largely tied to the success of the hotel industry, we plan for relative outperformance through good trading techniques and successful individual security selection among hotels and related areas.
|Ticker||Security Description||Portfolio Weight %|
|BYD||BOYD GAMING CORP||5.09%|
|VGR||VECTOR GROUP LTD||4.64%|
|FLL||FULL HOUSE RESORTS INC||4.47%|
|RICK||RCI HOSPITALITY HOLDINGS INC||4.46%|
|RGR||STURM RUGER & CO INC||4.43%|
|MCRI||MONARCH CASINO & RESORT INC||4.40%|
|GLPI||GAMING AND LEISURE PROPERTIE||4.30%|
|JACK||JACK IN THE BOX INC||3.87%|
|VICI||VICI PROPERTIES INC||3.80%|
|CZR||CAESARS ENTERTAINMENT INC||3.54%|
As of 09.30.2021. Cash is excluded. Subject to change.
Please see our complete Fund holdings at advisorshares.com/etfs/bedz. The holdings details are updated each market day.
Past Manager Commentary