VICE: 3rd Quarter 2021 Portfolio Manager Review
On November 1, 2020, the AdvisorShares Vice ETF changed its ticker from ACT to VICE and made a change to its investment strategy. See the prospectus for more information.
The third quarter of 2021 was challenging for the AdvisorShares Vice ETF (NYSE: VICE). The Fund lost -9.94% on its net asset value (NAV) and -10.04% on its market price. VICE was still strongly positive for the trailing one-year period ending September 30, gaining 25.62% (NAV) and 25.58% (market price).
One new position was added to the Fund during the third quarter: Vector Group Ltd (NYSE: VGR). We are always actively managing the Fund and occasionally increasing or decreasing position sizes as we see fit. A few positions were removed during the quarter. Last year’s #1 and #2 holdings Boston Beer (NYSE: SAM) and Turning Point Brands (NYSE: TPB) have been greatly reduced – as have gun manufacturers. The Fund currently has heavy weights in gaming and fast food.
Contributors / Detractors:
Top performers were from the gaming industry and some diverse alcohol and fast food companies. On the negative side, Boston Beer (SAM) was a drag on the fund after being a great performance for several years. Gun and psychedelics stocks were also quite negative.
As I often like to repeat, for those concerned about stock market negativity or volatility with continued COVID impacts or governmental policies, I’d like to suggest investing in those things that people seem to spend money on no matter what’s happening with the economy – vices like drinking, smoking, gambling, and gaming.
|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/vice. The holdings details are updated each market day.
Tune in to AdvisorShares’ Alpha Nooner Show streaming live each regular weekday starting at 11:50 am (East Coast time), where I am a guest almost every Tuesday to get updates on the funds. Find it on most major social media platforms or visit our the AdvisorShares “Events” webpage for more information.
Past Manager Commentary