BKCH: May 2019 Portfolio Manager Review
Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. For the fund’s most recent standardized and month-end performance, please click www.advisorshares.com/fund/bkch.
For the month of May, the AdvisorShares Sabretooth ETF (BKCH) was down -6.22% (NAV) compared to a loss of -6.35% in the S&P 500. Since it’s inception (2/6/19), BKCH is up 3.25% (NAV), while the S&P 500 gained 1.46% for the same time frame.
Overall the month of May was a tough month for the tech sector as a whole. There were no changes in BKCH but are looking at a few Cloud names IPO’ng in the month of June. The outlook for the cloud sector remains strong and an area of growth. We continue to closely watch the sector and how it is trading relative to the overall market and the ongoing global tariff issues.
|Ticker||Security Description||Portfolio Weight %|
|AMRN||AMARIN CORP PLC -ADR||20.53%|
|BKCH||ADVISORSHARES SABRETOOTH ETF||9.97%|
|BABA||ALIBABA GROUP HOLDING-SP ADR||8.22%|
|FB||FACEBOOK INC-CLASS A||6.54%|
|VMW||VMWARE INC-CLASS A||4.31%|
|GOOG||ALPHABET INC-CL C||3.95%|
As of 5.31.2019.
Scott Freeze, CIO
AdvisorShares Sabretooth ETF (BKCH) Portfolio Manager
Past Manager Commentary
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.
The Nasdaq Composite Index is the market capitalization-weighted index of approximately 3,000 common equities listed on the Nasdaq stock exchange.
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.
There is no guarantee that the Fund will achieve its investment objective. An investment in the Fund is subject to risk, including the possible loss of principal amount invested. Computer software/services companies can be significantly affected by competitive pressures, aggressive pricing, technological developments, changing domestic demand, the ability to attract and retain skilled employees and availability and price of components. Many computer software/services companies rely on a combination of patents, copyrights, trademarks and trade secret laws to establish and protect their proprietary rights in their products and technologies. There can be no assurance that the steps taken by computer software/services companies to protect their proprietary rights will be adequate to prevent misappropriation of their technology or that competitors will not independently develop technologies that are substantially equivalent or superior to such companies’ technology. Stocks of technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Additionally, companies in the technology sector may face dramatic and often unpredictable changes in growth rates and competition for the services of qualified personnel. For other risks specific to the fund please read 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.