YOLO: 4th Quarter 2021 Portfolio Manager Review
While cannabis losses have been very frustrating, I would however invite investors to compare YOLO’s performance to that of any other cannabis ETFs over equal periods of time. Despite a rough past year for cannabis overall, we’re very proud of our relative results.
In the 4th quarter, we made some significant changes – we added affiliated ETF, MSOS, as a top holding (and waiving its fees so that shareholders would not pay for one ETF to own another) and we removed most of the Fund’s individual MSO names. We feel it’s a much more efficient way for YOLO to get most of its U.S. cannabis exposure through one simple holding. In another move, we did what I’ll call “taking out the garbage.” YOLO contained a number for comparatively small positions that I had been selling down for quite some time. In the past 3 months, we completely removed the small remaining positions in stocks like Khiron, Aleafia, Green Organic Dutchman, and Entourage Health.
Contributors | Detractors:
During the quarter, only a couple stocks gained. Once again, Innovative Industrial Properties (NYSE: IIPR) gained over 14% and Power REIT (NYSE American: PW) more than 37%. Basically, all the remaining portfolio was negative.
|Ticker||Security Description||Portfolio Weight %|
|MSOS||ADVISORSHARES PURE US CANN||34.37%|
|IIPR||INNOVATIVE INDUSTRIAL PROPER||19.18%|
|VFF||VILLAGE FARMS INTERNATIONAL||14.63%|
|SOLCF||SOL GLOBAL INVESTMENTS CORP SWAP REC||4.22%|
|TRSSF||TERRASCEND CORP SWAP REC||4.14%|
|TLRY||TILRAY INC-CLASS 2 COMMON||3.72%|
|CGC||CANOPY GROWTH CORP||3.18%|
|RIV||RIV CAPITAL INC||2.98%|
As of 12.31.2021. Cash is not included. Subject to change.
Please see our complete Fund holdings at advisorshares.com/etfs/yolo. The holdings details are updated each market day.
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