YOLO: 3rd Quarter 2021 Portfolio Manager Review
In the 3rd quarter of 2021, AdvisorShares Pure Cannabis ETF (NYSE: YOLO) declined -21.73% on its net asset value (NAV) and -22.07% on its market price. For the trailing one-year period through September 30, 2021, YOLO gained 54.16% (NAV) and 53.88% (market price), outperforming its sibling fund, MSOS, that gets more attention. While those may seem like good returns, we know that cannabis stocks hit recent price highs back in February 2021, but have been frustratingly negative since. However, I would invite investors to compare YOLO’s performance to other cannabis ETFs during that same period of time. Despite a rough period for cannabis over the last months, we’re very proud of our relative results.
During the quarter, YOLO added one new position: Agrify Corp (NASDAQ: AGFY) which was up very nicely in Q3 of this year.
Contributors | Detractors:
During the quarter, losers definitely outnumbered winners. Among significant holdings, Innovative Industrial Properties (NYSE: IIPR) and Power REIT (NYSE American: PW) were up solidly. Cardiol Therapeutics (NASDAQ: CRDL) was also a significant gainer. While the rest of the portfolio’s holdings struggled in respect to performance, we feel that we properly managed risks with cash and position sizes.
|Ticker||Security Description||Portfolio Weight %|
|IIPR||INNOVATIVE INDUSTRIAL PROPER||15.21%|
|VFF||VILLAGE FARMS INTERNATIONAL||15.00%|
|GTBIF||GREEN THUMB INDUSTRIES SWAP REC||7.91%|
|CURLF||CURALEAF HOLDINGS INC SWAP REC||7.13%|
|TLRY||TILRAY INC-CLASS 2 COMMON||5.65%|
|HRVSF||HARVESTHEALTH SWAP R||5.62%|
|CRLBF||CRESCO LABS INC SWAP REC||5.58%|
|TCNNF||TRULIEVE CANNABIS SWAP REC||4.80%|
|CCHWF||COLUMBIA CARE INC SWAP REC||4.22%|
As of 09.30.2021. 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.
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. Find it on most major social media platforms or visit our the AdvisorShares “Events” webpage for more information.
Past Manager Commentary