VICE: 1st Quarter 2023 Portfolio Review
VICE had a positive performance in the 1st quarter of 2023, up 5.26% (NAV). It trailed the S&P 500, which was up 7.50% for the same period.
VICE added new positions in Carlsberg (CABGY), CIA Cervecerias (CCU), Heineken (HEINY), and Kirin Holdings Company (KNBWY). There were several trades made throughout the quarter, including removing Boston Beer Company (SAM), Caesars Entertainment Inc. (CZR), and Churchill Downs (CHDN), Constellation Brands Inc. (STZ), Full House Resorts Inc. (FLL), Penn Entertainment Inc. (PENN), Red Rocks Resorts(RRR), Take-Two Interactive Software (TTWO), and Universal (UVV) from the portfolio.
Winners / Losers
The portfolio’s laggards were British American Tobacco (BTI) down 12.16% and RCI Hospitality (RICK) down 16.12%. Positive contributors to quarterly performance were CIA Cervecerias (CCU) up 19.13%, Everi Holdings Inc. (EVRI) up 19.51%, and LVMH Moet Hennessy Louis Vuitton (LVMUY) up 26.82%.
“Vice” products earned their notoriety as a defensive sector in 2022 by outperforming the broader market as consumers maintained their consumption of the goods and services, despite rising prices. As this trend continues in 2023, international beverage companies were added to the portfolio.
|Ticker||Security Description||Portfolio Weight %|
|TPB||TURNING POINT BRANDS INC||6.39%|
|PRNDY||PERNOD RICARD SA – SPON ADR||5.13%|
|BYD||BOYD GAMING CORP||4.86%|
|CCU||CIA CERVECERIAS UNI-SPON ADR||4.82%|
|MGPI||MGP INGREDIENTS INC||4.82%|
|BUD||ANHEUSER-BUSCH INBEV-SPN ADR||4.70%|
|CABGY||CARLSBERG AS-B-SPON ADR||4.61%|
|VGR||VECTOR GROUP LTD||4.47%|
|KNBWY||KIRIN HOLDINGS CO-SPON ADR||4.39%|
As of 03.31.2023. Cash is excluded. Subject to change.
Please see our complete Fund holdings at advisorshares.com/etfs/vice. The holdings details are updated each market day.
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