VICE: 3rd Quarter 2023 Portfolio Review
Performance
VICE had a negative period in the 3rd quarter of 2023. VICE’s Net Asset Value (NAV) was down 10.71%, the S&P 500 also had a negative return, down 3.27% for the quarter.
Portfolio
Holdings Changes
VICE added new positions in Ambev (ABEV) with 62,461 shares and Carrol’s Restaurant Group Inc. (TAST) with 58,902 shares. There were several trades made throughout the quarter, including removing positions of Inspired Entertainment (INSE) and Pernod Rickard (PRNDY).
Winners / Losers
The portfolio’s laggards were BJ’s Restaurants Inc. (BJRI), down 27.66% and CIA Cerveceria’s (CCU), down 24.14%. Positive contributors to performance were Nvidia Corp (NVDA), up 2.56% and Carrol’s Restaurant Group (TAST), up 34.63% for the third quarter.
Top Holdings
| Ticker | Security Description | Portfolio Weight % |
| NTES | NETEASE INC-ADR | 5.39% |
| TAST | CARROLS RESTAURANT GROUP INC | 5.21% |
| MGPI | MGP INGREDIENTS INC | 5.01% |
| NVDA | NVIDIA CORP | 4.96% |
| LVMUY | LVMH MOET HENNESSY-UNSP ADR | 4.85% |
| EVRI | EVERI HOLDINGS INC | 4.71% |
| BYD | BOYD GAMING CORP | 4.68% |
| TPB | TURNING POINT BRANDS INC | 4.64% |
| TAP | MOLSON COORS BEVERAGE CO – B | 4.40% |
| CCU | CIA CERVECERIAS UNI-SPON ADR | 4.38% |
As of 09.30.2023. 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.
Market Update
“Vice” goods and services persist in popularity as consumers sustain their consumption patterns, notwithstanding increasing costs. Key players in industries like alcohol, tobacco, and gaming remain dedicated to innovating their offerings, venturing into fresh markets, and accommodating evolving consumer tastes.
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Definitions:
The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks. One cannot invest directly in an index.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting www.advisorshares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, distributor.
Investing involves risks including possible loss of principal. Companies in the food, beverage and tobacco industry are very competitive and subject to a number of risks. Demographic and product trends, changing consumer preferences, nutritional and health-related concerns, competitive pricing, marketing campaigns, environmental factors, adverse changes in general economic conditions, government regulation, food inspection and processing control, consumer boycotts, risks of product tampering, product liability claims, and the availability and expense of liability insurance can affect the demand for, and success of, such companies’ products in the marketplace. For a full summary of the risks, please see the prospectus.
Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.
Holdings and allocations are subject to risks and to change.
The views in this commentary are those of the portfolio manager and may not reflect his views on the date this material is distributed or any time thereafter. These views are intended to assist shareholders in understanding their investments and do not constitute investment advice.