# EDGAR Filing Document

**Accession Number:** 0001594854
**File Stem:** 0001999371-25-019613
**Filing Date:** 2025-12
**Character Count:** 96366
**Document Hash:** ae718d34982e2185d86a1c5a1183e804
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-25-019613.hdr.sgml**: 20251205

**ACCESSION NUMBER**: 0001999371-25-019613

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 23

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251205

**DATE AS OF CHANGE**: 20251205

**EFFECTIVENESS DATE**: 20251205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GreenFi Funds Trust
- **CENTRAL INDEX KEY:** 0001594854

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22922
- **FILM NUMBER:** 251552513

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 SANSOME STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 800-683-8529

**MAIL ADDRESS:**
- **STREET 1:** 1100 SANSOME STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aspiration Funds
- **DATE OF NAME CHANGE:** 20131219

## Series and Classes Contracts Data

### GreenFi Redwood Fund (Series ID: S000049577)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000156670 | GreenFi Redwood Fund | REDWX           |

?xml version='1.0' encoding='ASCII'? GreenFi Redwood Fund

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number <u>811-22922</u>

GreenFi Funds Trust

(Exact name of registrant as specified in charter)

**1100 Sansome Street, San Francisco, California 94111**

(Address of principal executive offices) (Zip code)

**The Corporation Trust Company**

**1209 Orange Street, Wilmington, DE 19801**

(Name and address of agent for service)

Registrant's telephone number, including area code: **252-972-9922**

Date of fiscal year end: <u>**September 30**</u>

Date of reporting period: <u>**September 30, 2025**</u>

**Item 1.** **Report to Stockholders.**

(a) #### GreenFi Redwood Fund Tailored Shareholder Report

#### GreenFi Redwood Fund
Ticker: REDWX

**annual shareholder reportSeptember 30, 2025** 

This annual shareholder report contains important information about GreenFi Redwood Fund for the period October 1, 2024 to September 30, 2025. You can find additional information about the Fund at funds.greenfi.com/redwood. You can also request this information by contacting us at (800) 683-8529.

#### What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| REDWX | $138  | 1.30% |

---

#### How did the Fund perform last year and what a ff ected its performance?
For the twelve months ended September 30, 2025, the Fund returned 11.99%. The Fund underperformed its benchmark, the S&P 500 Index, which returned 17.60% for the same period.

#### What factors infl uenced performance?
The Fund had positive absolute returns over the period, but underperformed the benchmark. The Fund's overall positioning in Health Care detracted the most, followed by stock selection in Consumer Discretionary. Meanwhile, stock selection in Communication Services and Information Technology contributed positively. In terms of individual positions:

• The Fund's position in UnitedHealth Group was the main detractor over the period, as shares declined on mispricing within their Medicare Advantage book. The Fund's position in International Flavors & Fragrances also detracted as shares were dampened by weakness in the specialty ingredients sector as a whole.

• On the other hand, the Fund's position in Take-Two Interactive was the top positive contributor as the company reported strong NBA 2K sales, in addition to positive pipeline updates including highly anticipated new game releases. Zscaler also added value as shares gained on strong earnings driven by AI and growing adoption of their zero-trust platform, signaling renewed optimism in cybersecurity.

#### How did the Fund perform since inception?
*The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.*

#### Cumulative Performance
From November 16, 2015 through September 30, 2025

Initial Investment of $10,000

![line](qesa1tl41mhxfba1o.jpg)

#### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
|  | **1 year**<br>| **5 year**<br>| **Since Inception**<br>**(11/16/2015)**<br>|
| **REDWX**<br>| 11.99%<br>| 12.42%<br>| 11.95%<br>|
| **S&P 500 Index**<br>| 17.60%<br>| 16.46%<br>| 14.69%<br>|

---

Visit funds.greenfi.com/redwood for more recent performance information.

#### GreenFi Redwood Fund Tailored Shareholder Report

#### Key Fund Statistics
(as of September 30, 2025)

---

| | |
|:---|:---|
|  |  |
| **Net Assets** | $148511629 |
| **Number of Holdings** | 48 |
| **Net Advisory Fee** | $702674  |
| **Portfolio Turnover Rate** | 37.49% |

---

#### What did the Fund invest in?
(as of September 30, 2025)

#### Sector Breakdown (% of net assets)
![bar](qesa1tl41mhuv0ixl.jpg)

---

| | |
|:---|:---|
| **Top Ten Holdings** | **(% of total net assets)** |
| **Microsoft Corp** | 8.4% |
| **NVIDIA Corp** | 7.9% |
| **Alphabet Inc** | 6.7% |
| **Amazon.com Inc** | 4.6% |
| **Visa Inc** | 4.2% |
| **Broadcom Inc** | 3.5% |
| **Cadence Design Systems Inc** | 2.9% |
| **TJX Cos Inc/The** | 2.9% |
| **Eli Lilly & Co** | 2.8% |
| **Marsh & McLennan Cos Inc** | 2.7% |

---

#### For additional information about the Fund; including its prospectus, financial information, holdings and proxy voting information, visit funds.greenfi.com/redwood.
(b) Not applicable.

**Item 2.** **Code of Ethics.**

(a) The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, and principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party (the "Code of Ethics").

(c) During the period covered by this report, there have been no substantive amendments to the provisions of the Code of Ethics.

(d) During the period covered by this report, the registrant did not grant any waivers to the provisions of the Code of Ethics.

(e) Not applicable.

(f)(1) [A copy of the Code of Ethics is filed with this Form N-CSR as Exhibit 19(a)(1).](ex99-coe.htm)

**Item 3.** **Audit Committee Financial Expert.**

The registrant's Board of Trustees has determined that it does not have an audit committee financial expert. At this time, the registrant's Board of Trustees believes that the collective knowledge and experience provided by the members of the audit committee collectively offer the registrant adequate oversight for the registrant's level of financial complexity.

**Item 4.** **Principal Accountant Fees and Services**

(a) <u>Audit Fees</u> 

Audit fees billed for the GreenFi Redwood Fund (the "Fund"), a series of the Trust, for the last two fiscal years are reflected in the table below. These amounts represent aggregate fees billed for professional services rendered by the registrant's independent accountants Tait, Weller & Baker LLP ("Accountant"), in connection with the annual audit of the registrant's financial statements and for services that are normally provided by the Accountant in connection with the registrant's statutory and regulatory filings or engagements for those fiscal years.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**September 30, 2024** | &nbsp;&nbsp;**September 30, 2025** |
| &nbsp;&nbsp;GreenFi Redwood Fund | &nbsp;&nbsp;$20500 | &nbsp;&nbsp;$21000 |

---

(b) <u>Audit-Related Fees</u> 

There were no additional fees billed in the fiscal years ended September 30, 2024, and September 30, 2025 for assurance and related services by the Accountant that were reasonably related to the performance of the audit of the registrant's financial statements and that were not reported under paragraph (a) of this Item.

(c) <u>Tax Fees</u> 

The tax fees billed in each of the last two fiscal years, for professional services rendered by the Accountant for tax compliance, tax advice, and tax planning are reflected in the table below. These services were for the completion of the Fund's federal and state income tax returns, excise tax returns, and assistance with distribution calculations.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**September 30, 2024** | &nbsp;&nbsp;**September 30, 2025** |
| &nbsp;&nbsp;GreenFi Redwood Fund | &nbsp;&nbsp;$5000 | &nbsp;&nbsp;$5000 |

---

(d) <u>All Other Fees</u> 

There were no other fees billed for the last two fiscal years ended September 30, 2024, and September 30, 2025, for products and services provided by Accountant, other than the services reported in paragraphs (a) through (c) of this Item.

---

| | |
|:---|:---|
| (e)(1) | The registrant's Board of Trustees pre-approved the engagement of the Accountant for the fiscal year ended September 30, 2025, at an audit committee meeting of the Board of Trustees called for such purpose and will pre-approve the Accountant for each fiscal year thereafter at an audit committee meeting called for such purpose. The charter of the audit committee states that the audit committee should pre-approve any audit services and, when appropriate, evaluate and pre-approve any non-audit services provided by the Accountant to the registrant and to pre-approve, when appropriate, any non-audit services provided by the Accountant to the registrant's investment adviser, or any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant if the engagement relates directly to the operations and financial reporting of the registrant. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) There were no services as described in each of paragraph (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) Aggregate non-audit fees billed by the Accountant to the Fund for services rendered for the last two fiscal years are reflected in the table below. There were no fees billed by the Accountant for non-audit services rendered to the Fund's investment adviser, or any other entity controlling, controlled by, or under common control with the Fund's investment adviser.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**September 30, 2024** | &nbsp;&nbsp;**September 30, 2025** |
| &nbsp;&nbsp;GreenFi Redwood Fund | &nbsp;&nbsp;$5000 | &nbsp;&nbsp;$5000 |

---

(h) Not applicable.

(i) Not applicable.

(j) Not applicable.

**Item 5.** **Audit Committee of Listed Registrants.**

(a) Not applicable.

(b) Not applicable.

Item 6. Investments.

A copy of the Schedule I - Investments in securities of unaffiliated issuers as of the close of the reporting period is included in the financial statements filed under Item 7 of this Form.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**GreenFi Redwood Fund**

Annual Financial Statements

For the fiscal year ended September 30, 2025

The financial statements and other information contained herein are submitted for the general information of the shareholders of the GreenFi Redwood Fund (the "Fund"). The Fund's shares are not deposits or obligations of, or guaranteed by, any depository institution. The Fund's shares are not insured by the FDIC, Federal Reserve Board, or any other agency, and are subject to investment risks, including possible loss of principal amount invested. Neither the Fund nor the Fund's distributor is a bank.

The Fund is distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, NC, 27609. There is no affiliation between the Fund, including its principals, and Capital Investment Group, Inc.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;[Schedule of Investments (N-CSR Item 6)](#redwoodncsra001) | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Financial Statements (N-CSR Item 7) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statement of Assets and Liabilities](#redwoodncsra003) | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statement of Operations](#redwoodncsra004) | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Statements of Changes in Net Assets](#redwoodncsra005) | &nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#redwoodncsra006) | &nbsp;&nbsp;9 |
| &nbsp;&nbsp;[Report of Independent Registered Public Accounting Firm](#redwoodncsra007) | &nbsp;&nbsp;16 |
| &nbsp;&nbsp;[Tax Information](#redwoodncsra008) | &nbsp;&nbsp;17 |
| &nbsp;&nbsp;[Changes In and Disagreements with Accountants (N-CSR Item 8)](#redwoodncsra009) | &nbsp;&nbsp;17 |
| &nbsp;&nbsp;[Matters Submitted for Shareholder Vote (N-CSR Item 9)](#redwoodncsra010) | &nbsp;&nbsp;17 |
| &nbsp;&nbsp;[Renumeration Paid to Directors, Officers and Others (N-CSR Item 10)](#redwoodncsra011) | &nbsp;&nbsp;17 |
| &nbsp;&nbsp;[Approval of Investment Advisory Agreement (N-CSR Item 11)](#redwoodncsra012) | &nbsp;&nbsp;17 |

---

---

| | | |
|:---|:---|:---|
| **Schedule of Investments** | | |
| *As of September 30, 2025* |  |  |
|  | **Shares** | **Value** |
| **Common Stocks - 98.42%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communications - 9.01%** | &nbsp;&nbsp;&nbsp;**Communications - 9.01%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Inc | 40711 | $9896844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T-Mobile US Inc | 6620 | 1584696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walt Disney Co/The | 16624 | 1903448 |
|  |  | 13384988 |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary - 11.35%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com Inc<sup>(a)</sup> | 31317 | 6876274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aptiv PLC<sup>(a)</sup> | 25350 | 2185677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill Inc<sup>(a)</sup> | 55914 | 2191270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rivian Automotive Inc<sup>(a)</sup> | 89348 | 1311628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Cos Inc/The | 29699 | 4292693 |
|  |  | 16857542 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples - 5.74%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale Corp | 4083 | 3779347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sprouts Farmers Market Inc<sup>(a)</sup> | 21565 | 2346272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart Inc | 23271 | 2398309 |
|  |  | 8523928 |
| &nbsp;&nbsp;&nbsp;**Financials - 14.85%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apollo Global Management Inc | 21142 | 2817594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp | 14934 | 3174670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc | 11825 | 779740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Horizon Corp | 120507 | 2724663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marsh & McLennan Cos Inc | 19553 | 3940516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progressive Corp/The | 9589 | 2368004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa Inc | 18310 | 6250668 |
|  |  | 22055855 |
| &nbsp;&nbsp;&nbsp;**Health Care - 10.24%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bio-Rad Laboratories Inc<sup>(a)</sup> | 7775 | 2180032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co | 46709 | 2106576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dexcom Inc<sup>(a)</sup> | 18872 | 1269897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Co | 5356 | 4086628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group Inc | 10036 | 3465431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals Inc<sup>(a)</sup> | 5346 | 2093707 |
|  |  | 15202271 |
| &nbsp;&nbsp;&nbsp;**Industrials - 8.47%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AECOM | 12610 | 1645227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gates Industrial Corporation plc<sup>(a)</sup> | 68501 | 1700195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GE Vernova Inc | 1970 | 1211353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingersoll Rand Inc | 17469 | 1443289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBT Marel Corp | 10614 | 1490736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regal Rexnord Corp | 10534 | 1510997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Management Inc | 6719 | 1483757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xylem Inc/NY | 14151 | 2087272 |
|  |  | 12572826 |
| &nbsp;&nbsp;&nbsp;**Materials - 5.14%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Drainage Systems Inc | 14094 | 1954838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ecolab Inc | 8135 | 2227851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc | 41523 | 2555325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;James Hardie Industries PLC<sup>(a)</sup> | 46020 | 884044 |
|  |  | 7622058 |
| &nbsp;&nbsp;&nbsp;**Technology - 32.38%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices Inc<sup>(a)</sup> | 16509 | 2670991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlassian Corp<sup>(a)</sup> | 12815 | 2046556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom Inc | 15657 | 5165401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cadence Design Systems Inc<sup>(a)</sup> | 12287 | 4315932 |

---

*See Notes to Financial Statements* 

---

| | | |
|:---|:---|:---|
| **Schedule of Investments (continued)** |  |  |
| *As of September 30, 2025* |  |  |
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;**Technology (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dynatrace Inc<sup>(a)</sup> | 37139 | 1799385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Micron Technology Inc | 15163 | 2537073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp | 24079 | 12471718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MongoDB Inc<sup>(a)</sup> | 7080 | 2197490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp | 62801 | 11717411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ServiceNow Inc<sup>(a)</sup> | 3445 | 3170365 |
|  |  | 48092322 |
| &nbsp;&nbsp;&nbsp;**Utilities - 1.24%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Water Works Co Inc | 13275 | 1847747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $106,521,702)** |  | 146159537 |
| **Short-Term Investment - 1.73%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Treasury Portfolio, 4.20%<sup>(b)</sup> (Cost $2,567,949) |  | 2567949 |
| **Investments, at Value (Cost $109,089,651) - 100.15%** |  | 148727486 |
| **Liabilities in Excess of Other Assets - (0.15)%** |  | (215857) |
| **Net Assets - 100.00%** |  | $148511629 |

---

(a) Non-income producing investment

(b) Represents 7-day effective SEC yield as of September 30, 2025.

*See Notes to Financial Statements*

---

| | |
|:---|:---|
| **Statement of Assets and Liabilities** | |
| *As of September 30, 2025* |  |
| Assets: |  |
| &nbsp;&nbsp;&nbsp;Investments, at value (cost $109,089,651) | $148727486 |
| &nbsp;&nbsp;&nbsp;Cash |  |
| &nbsp;&nbsp;&nbsp;Dividends receivable | 44634 |
| &nbsp;&nbsp;&nbsp;Interest receivable | 5061 |
| &nbsp;&nbsp;&nbsp;Fund shares sold receivable | 47510 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 16588 |
| &nbsp;&nbsp;&nbsp;Total assets | 148841279 |
| Liabilities: |  |
| &nbsp;&nbsp;&nbsp;Fund shares purchased payable | 19951 |
| &nbsp;&nbsp;&nbsp;Accrued expenses: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory fees | 215157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustee fees | 15092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audit fees | 24885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Custody fees | 10716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legal fees | 23620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholder fulfillment fees | 9979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administration fees | 1688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operational expenses | 8562 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 329650 |
| Total Net Assets | $148511629 |
| Net Assets Consist of: |  |
| &nbsp;&nbsp;&nbsp;Paid in capital | $94654018 |
| &nbsp;&nbsp;&nbsp;Accumulated earnings | 53857611 |
| Total Net Assets | $148511629 |
| Capital Shares Outstanding, no par value |  |
| &nbsp;&nbsp;&nbsp;(unlimited authorized shares) | 7808109 |
| Net Asset Value, Per Share | $19.02 |

---

*See Notes to Financial Statements*

---

| | |
|:---|:---|
| **Statement of Operations** | |
| *For the fiscal year ended September 30, 2025* |  |
| Investment Income: |  |
| &nbsp;&nbsp;&nbsp;Dividends | $1067691 |
| &nbsp;&nbsp;&nbsp;Interest | 66428 |
| &nbsp;&nbsp;&nbsp;Total Investment Income | 1134119 |
| Expenses: |  |
| &nbsp;&nbsp;&nbsp;Advisory fees | 702674 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees | 390908 |
| &nbsp;&nbsp;&nbsp;Trustee fees and meeting expenses | 23742 |
| &nbsp;&nbsp;&nbsp;Legal fees | 344756 |
| &nbsp;&nbsp;&nbsp;Administration fees | 142994 |
| &nbsp;&nbsp;&nbsp;Registration and filing expenses | 49648 |
| &nbsp;&nbsp;&nbsp;Fund accounting fees | 41678 |
| &nbsp;&nbsp;&nbsp;Compliance fees | 52461 |
| &nbsp;&nbsp;&nbsp;Custody fees | 47709 |
| &nbsp;&nbsp;&nbsp;Audit fees | 16816 |
| &nbsp;&nbsp;&nbsp;Shareholder fulfillment fees | 16174 |
| &nbsp;&nbsp;&nbsp;Distribution and service fees | 15050 |
| &nbsp;&nbsp;&nbsp;Miscellaneous expenses | 28772 |
| &nbsp;&nbsp;&nbsp;Net Expenses | 1873382 |
| Net Investment Loss | (739263) |
| Realized and Unrealized Gain on Investments: |  |
| &nbsp;&nbsp;&nbsp;Net realized gain from investment transactions | 16617983 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation on investments | 467757 |
| Net Realized and Unrealized Gain on Investments | 17085740 |
| Net Increase in Net Assets Resulting from Operations | $16346477 |

---

*See Notes to Financial Statements*

---

| | | |
|:---|:---|:---|
| **Statements of Changes in Net Assets** | | |
| *For the fiscal years ended September 30,* |  |  |
|  | *2025* | *2024* |
| Operations: |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | $(739263) | $367008 |
| &nbsp;&nbsp;&nbsp;Net realized gain from investment transactions | 16617983 | 11675034 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation on investments | 467757 | 17818675 |
| Net Increase in Net Assets Resulting from Operations | 16346477 | 29860717 |
| Distributions to Shareholders from Distributable Earnings | (10086779) | (651682) |
| Capital Share Transactions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares sold | 9481856 | 12609292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvested dividends and distributions | 9975717 | 649155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares repurchased | (25370446) | (27294450) |
| Net Decrease in Net Assets Resulting from Capital Share Transactions | (5912873) | (14036003) |
| Net Increase in Net Assets | 346825 | 15173032 |
| Net Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 148164804 | 132991772 |
| &nbsp;&nbsp;&nbsp;End of Year | $148511629 | $148164804 |
| Share Information: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares sold | 537921 | 739363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares from reinvested dividends and distributions | 587200 | 38726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares repurchased | (1430968) | (1587091) |
| Net Decrease in Capital Shares | (305847) | (809002) |

---

*See Notes to Financial Statements*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | | |
|  | September 30, | September 30, | September 30, | September 30, | September 30, |
| For a share outstanding during each fiscal year ended | 2025 | 2024 | 2023 | 2022 | 2021 |
| Net Asset Value, Beginning of Year | $18.26 | $14.90 | $13.04 | $17.22 | $12.91 |
| Income (Loss) from Investment Operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | (0.09)(b) | 0.05 | 0.07 | 0.18 | 0.10 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 2.13 | 3.38 | 2.12 | (2.61) | 4.21 |
| Total from Investment Operations | 2.04 | 3.43 | 2.19 | (2.43) | 4.31 |
| Less Distributions From: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.05) | (0.07) | (0.12) | (0.22) |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (1.23) |  | (0.21) | (1.53) |  |
| Total Distributions | (1.28) | (0.07) | (0.33) | (1.75) |  |
| Net Asset Value, End of Year | $19.02 | $18.26 | $14.90 | $13.04 | $17.22 |
| Total Return | 11.99% | 23.09% | 17.00% | (16.52)% | 33.38% |
| Net Assets, End of Year (in thousands) | $148512 | $148165 | $132992 | $120125 | $140062 |
| Ratios of: |  |  |  |  |  |
| Gross Expenses to Average Net Assets | 1.30 %<sup>(a)</sup> | 0.77% | 0.80% | 0.86% | 0.87% |
| Net Expenses to Average Net Assets | 1.30 %<sup>(a)</sup> | 0.77% | 0.62% | 0.50% | 0.50% |
| Net Investment Income (Loss) to Average Net Assets | -0.51% | 0.25% | 0.49% | 1.20% | 0.62% |
| Portfolio turnover rate | 37.49% | 22.55% | 30.75% | 20.03% | 33.31% |

---

(a) The Advisor receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor were permitted to invest in the Fund. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor.

(b) Calculated using the average shares method.

*See Notes to Financial Statements*

Notes to Financial Statements

*As of September 30, 2025*

&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Organization and Significant Accounting Policies** 

The GreenFi Redwood Fund, previously the Aspiration Redwood Fund (the "Fund"), is a series of the GreenFi Funds Trust, previously Aspiration Funds, (the "Trust"). The Trust was organized as a Delaware statutory trust on October 16, 2013, and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

The Fund is a diversified series of the Trust and commenced operations on November 16, 2015. The investment objective is to maximize total return, consisting of capital appreciation and current income. To achieve its investment objective, the Fund invests in, or seeks exposure to, companies based on various financial factors, as well as fundamental sustainability factors such as the environmental, social, and governance performance of such companies. The Fund invests in equity securities that trade on U.S. securities markets, which may include securities of non-U.S. issuers as well as securities of U.S. issuers. The equity securities in which the Fund invests include, but are not limited to, dividend-paying securities, common stock, preferred stock, equity securities of real estate investment trusts ("REITS"), shares of investment companies, convertible securities, warrants, and rights. The Fund may purchase equity securities in an initial public offering ("IPO") provided that the investment is consistent with the Fund's investment strategy. The Fund may, but is not required to, use exchange-traded derivative instruments for risk management purposes or as part of the Fund's investment strategies.

The following is a summary of significant accounting policies consistently followed by the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The Fund follows the accounting and reporting guidance in the Financial Accounting Standards Board ("FASB") *Accounting Standards Codification 946 "Financial Services – Investment Companies*."

*Principles of Accounting* 

The Fund uses the accrual method of accounting for financial reporting purposes.

*Net Asset Value*

The net asset value ("NAV") per share of each class of a Fund is determined by dividing the Fund's net assets attributable to each class by the number of shares issued and outstanding of that class on each day the New York Stock Exchange ("NYSE") is open for trading. The Fund has one class of beneficial interests as of September 30, 2025.

*Investment Valuation*

Equity securities are generally valued by using market quotations but may be valued on the basis of prices furnished by a pricing service selected by the Fund's investment advisor, Mission Investment Advisors LLC (the "Advisor"). Securities that are traded on any stock exchange or on the NASDAQ over-the-counter market are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an equity security is generally valued by the pricing service at its last available quotation. Fixed income securities, including short-term investments with maturities of less than 61 days when acquired, are normally valued on the basis of prices obtained from independent third-party pricing services selected by the Advisor, which are generally determined with consideration given to institutional bid and last sale prices and take into account securities prices, yield, maturity, call features, ratings, institutional sized trading in similar groups of securities and developments related to specific securities. Debt obligations with remaining maturities of sixty days or less are valued at their amortized cost.

The Board of Trustees, including the majority of the Trustees who are not "interested persons" of the Trust, as such term is defined in the 1940 Act, has designated the Advisor to serve as the "Valuation Designee" under Rule 2a-5 to perform fair value determinations subject to the Board's oversight. The Valuation Designee has designated certain individuals at the Advisor (the "Pricing Committee") to carry out the Advisor's responsibilities as Valuation Designee to the Trust. When (i) market quotations are not readily available, or (ii) the validity of the price is otherwise questionable or unreliable, securities are valued as determined in good faith by the Valuation Designee, acting through its Pricing Committee, pursuant to policies and procedures approved by the Board of Trustees.

The Fund may invest in portfolios of open-end investment companies (the "Underlying Funds"). The Underlying Funds value securities in their portfolios for which market quotations are readily available at their market values (generally the last reported sale price) and all other securities and assets at their fair value to the methods established by the board of directors of the Underlying Funds. Open-ended funds are valued at their respective net asset values as reported by such investment companies.

*Fair Value Measurement*

The Fund has adopted ASC Topic 820, *Fair Value Measurements*. ASC Topic 820 defines fair value, establishes a framework for measuring fair value and expands disclosure about fair value measurements.

Notes to Financial Statements

*As of September 30, 2025*

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1: Unadjusted quoted prices in active markets for identical securities assets or liabilities that the funds have the ability to access.

Level 2: Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, credit spreads, yield curves, and market-collaborated input.

Level 3: Unobservable inputs for the asset or liability to the extent that observable inputs are not available, representing the assumptions that a market participant would use in valuing the asset or liability at the measurement date; they would be based on the best information available, which may include the funds' own data.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following table summarizes the inputs as of September 30, 2025, for the Fund's assets measured at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Total* | *Level 1* | *Level 2* | *Level 3<sup>(a)</sup>* |
| *Assets* |  |  |  |  |
| Common Stocks (b) | $146159537 | $146159537 | $— | $— |
| Short-Term Investment | 2567949 | 2567949 |  |  |
| *Total Investments in Securities* | $148727486 | $148727486 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund had no Level 3 securities during the fiscal year ended September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Refer to Schedule of Investments for breakdown by industry.

*Investment Transactions and Investment Income*

Investment transactions are accounted for as of the date purchased or sold (trade date). Dividend income is recorded on the ex-dividend date. Gains and losses are determined on the identified cost basis, which is the same basis used for federal income tax purposes.

*Expenses*

The Fund bears expenses incurred specifically on its behalf as well as a portion of Trust level expenses. Currently, the Fund is the only fund of the Trust and therefore bears all of the Trust level expenses.

*Distributions*

The Fund may declare and distribute dividends from net investment income (if any) annually. Distributions from capital gains (if any) are generally declared and distributed annually. Dividends and distributions to shareholders are recorded on ex-date.

*Estimates*

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reported period. Actual results could differ from those estimates.

*Federal Income Taxes*

No provision for income taxes is included in the accompanying financial statements, as the Fund intends to distribute to shareholders all taxable investment income and realized gains and otherwise comply with Subchapter M of the Internal Revenue Code applicable to regulated investment companies.

Notes to Financial Statements

*As of September 30, 2025*

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Risk Considerations** 

*Convertible Securities Risk.* The Fund may invest in convertible securities directly or indirectly through investment companies that invest in convertible securities. Convertible securities include debt obligations and preferred stock of the company issuing the security, which may be exchanged for a pre-determined price (the conversion price) into the common stock of the issuer. The market values of convertible securities and other debt securities tend to fall when prevailing interest rates rise. The values of convertible securities also tend to change whenever the market value of the underlying common or preferred stock fluctuates.

*Cybersecurity Risk*. As part of their business, the Advisor, UBS Asset Management (Americas) LLC (the "Sub-Advisor"), and third-party service providers process, store, and transmit large amounts of electronic information, including information relating to the transactions of the Fund. The Advisor, Sub-Advisor, third-party service providers, and the Fund are therefore susceptible to cybersecurity risk. Cyber-attacks include, among other behaviors, stealing or corrupting data maintained online or digitally, denial of service attacks on websites, the unauthorized release of confidential information, and causing operational disruption. Successful cyber-attacks against, or security breakdowns of, the Fund or the Advisor, Sub-Advisor, or third-party service providers, including the Fund's custodians, fund accountant, fund administrator, transfer agent, and/or pricing vendors, may adversely impact the Fund and its shareholders. For instance, cyber-attacks may interfere with the processing of shareholder transactions, impact the Fund's ability to calculate its net asset value ("NAV"), cause the release of private shareholder information or confidential Fund information, impede trading, cause reputational damage, and subject the Fund to regulatory fines, penalties or financial losses, reimbursement or other compensation costs, and/or additional compliance costs. The Fund also may incur substantial costs for cybersecurity risk management in order to guard against any cyber incidents in the future. The Fund and its shareholders could be negatively impacted as a result.

*Derivatives Risk*. A derivative instrument often has risks similar to its underlying asset and may also have additional risks. The Fund could experience a loss if its derivative positions are poorly correlated with its other investments, or if it is unable to liquidate a position because of an illiquid secondary market. The market for many derivatives is, or suddenly can become, illiquid. Changes in liquidity may result in significant, rapid, and unpredictable changes in the prices for derivatives. Certain derivative transactions may give rise to a form of leverage. Leverage magnifies the potential for gain and the risk of loss. The derivative instruments and techniques that underlying funds may principally use include:

*Futures*. A futures contract is a standardized, exchange-traded agreement to buy or sell a specific quantity of an underlying instrument at a specific price at a specific future time. The risk of loss in buying and selling futures contracts can be substantial. Small price movements in the instrument underlying a futures position may result in immediate and substantial losses to the underlying fund.

*Options*. A put option gives the purchaser of the option the right to sell, and obligates the writer to buy, the underlying security at a stated exercise price, typically at any time prior to the expiration of the option. A call option gives the purchaser of the option the right to buy, and obligates the writer to sell, the underlying security at a stated exercise price, typically at any time prior to the expiration of the option. A decision as to whether, when and how to use options involves the exercise of skill and judgment and even a well-conceived options transaction may be unsuccessful because of market behavior or unexpected events.

*Swaps*. An over-the-counter ("OTC") swap contract is an agreement between two parties pursuant to which the parties exchange payments at specified dates on the basis of a specified notional amount, with the payments calculated by reference to specified securities, indices, reference rates, currencies or other instruments. Most swap agreements are not entered into or traded on exchanges. OTC swaps are often subject to credit risk or the risk of default or non-performance by the counterparty. Swaps could result in losses if interest rate or foreign currency exchange rates or credit quality changes are not correctly anticipated or if the reference index, security or investments do not perform as expected. Underlying funds' use of swaps may include those based on the credit of an underlying security, commonly referred to as "credit default swaps."

*Foreign currency forward exchange contracts*. Foreign currency forward exchange contracts are transactions involving the Fund's obligation to purchase or sell a specific currency at a future date at a specified price. Unanticipated changes in currency prices may result in losses to an underlying fund and poorer overall performance for the fund than if it had not entered into foreign currency forward exchange contracts.

*Equity Securities Risk*. The Fund may invest in equity securities directly or indirectly through investment companies that invest in equity securities. Equity securities fluctuate in value, often based on factors unrelated to the fundamental economic condition of the issuer of the securities, including general economic and market conditions, and these fluctuations can be pronounced.

*Focused Investment Risk.* There is a risk that investing in a select group of securities or securities in a particular sector could subject the Fund to greater risk of loss and could be considerably more volatile than the Fund's primary benchmark or other mutual funds that are diversified across a greater number of securities or sectors.

Notes to Financial Statements

*As of September 30, 2025*

*Foreign Investing Risk.* The value of the Fund's investments in securities of non-U.S. issuers may fall due to adverse political, social and economic developments abroad and due to decreases in foreign currency values relative to the U.S. dollar. Also, securities of non-U.S. issuers may be impacted by foreign controls on investment, withholding taxes, a lack of adequate company information, a lack of government regulation, and legal systems or market practices that permit inequitable treatment of minority and/or non-domestic investors.

*Futures Risk.* Use of futures contracts by the Fund or underlying funds may cause the value of the Fund's shares to be more volatile. Futures contracts expose the Fund or underlying funds to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not accurately track the underlying securities. Changes in the value of futures contracts may not track or correlate perfectly with the underlying index because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends unlike the stocks upon which they are based.

*Investment Company Risk.* The price movement of an ETF may not correlate to the underlying investments and may result in a loss. Closed-end funds may trade infrequently, with small volume, and at a discount to NAV, which may affect the Fund's ability to sell shares of the fund at a reasonable price. Further, investments in other investment companies subject the investor to fees and expenses charged by such other investment companies, including ETFs. Finally, the Investment Company Act of 1940, as amended, imposes certain limitations on a fund's investments in other investment companies. These limitations may limit the amount the Fund may invest in certain investment companies.

*IPOs Risk.* The purchase of shares issued in IPOs exposes the Fund to the risks associated with companies that have little operating history as public companies, as well as to the risks associated with the sectors of the market in which the companies operate. Further, the absence of a prior public market, unseasoned trading, the small number of shares usually available for trading or the possibility of dilution of share value by issuance of additional shares may affect the market value of IPO shares. The market for IPO shares has been volatile and share prices of newly public companies have fluctuated significantly over short periods of time.

*Leverage Risk Associated with Financial Instruments Risk.* The use of financial instruments to increase potential returns, including derivatives used for investment (non-hedging) purposes, may cause the Fund to be more volatile than if it had not been leveraged. The use of leverage may also accelerate the velocity of losses and can result in losses to the Fund that exceed the amount originally invested.

*Limited Capitalization Risk.* There is a risk that securities of small capitalization companies tend to be more volatile and less liquid than securities of larger capitalization companies. This can have a disproportionate effect on the market price of smaller capitalization companies and affect the Fund's ability to purchase or sell those securities. In general, smaller capitalization companies are more valuable than larger companies to adverse business or economic developments and they may have more limited resources.

*Management Risk.* There is a risk that the investment strategies, techniques, and risk analysis employed by the Sub-Advisor may not produce the desired results. If the Fund's annual operating expenses exceed the contractual expense limit under the Fund's expense limitation agreement and the Advisor is not able to pay Fund expenses required under such agreement, the Advisor may have to resign as Advisor to the Fund or dissolve and liquidate the Fund. Dissolution or liquidation of the Fund may cause shareholders to liquidate or transfer their investments at inopportune times.

*Market Risk.* Market risk refers to the risk related to investments in securities in general and the daily fluctuations in the securities markets. The Fund's investment return per share will change daily based on many factors, including fluctuation in interest rates, the quality of the instruments in the Fund's investment portfolio, national and international economic conditions and general market conditions. In addition, the value of the fund's investments may be negatively affected by the occurrence of global events, such as war, terrorism, environmental disasters or events, country instability, inflation/deflation, and infectious disease epidemics or pandemics. These events could reduce consumer demand or economic output; result in market closures; interest rate changes, travel restrictions or quarantines; and significantly adversely impact the economy. Governmental and quasi-governmental authorities and regulators throughout the world have in the past often responded to serious economic disruptions with a variety of significant fiscal and monetary policy changes which could have an unexpected impact on financial markets and the Fund's investments.

*REITs Risk.* The risk that the Fund's performance will be affected by adverse developments to REITs and the real estate industry. REITs and underlying real estate values may be affected by a variety of factors, including: local, national or global economic conditions; changes in zoning or other property-related laws; environmental regulations; interest rates; tax and insurance considerations; overbuilding; property taxes and operating expenses; or declining values in a neighborhood. Similarly, a REIT's performance depends on the types, values, locations and management of the properties it owns. In addition, a REIT may be more susceptible to adverse developments affecting a single project or market segment than a more diversified investment. Loss of status as a qualified REIT under the US federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Notes to Financial Statements

*As of September 30, 2025*

*Portfolio Turnover Risk.* The Fund may engage in frequent trading of its portfolio securities. A portfolio turnover rate of 200%, for example, is equivalent to the Fund buying and selling all of its securities two times during the course of the year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs. A high portfolio turnover rate also can result in an increase in taxable capital gains distributions to the Fund's shareholders.

*Sustainability Risk.* The Sub-Advisor's consideration of sustainability factors and the application of positive and negative screening processes may impact the Sub-Advisor's investment decisions as to securities of certain issuers and, therefore, the Fund may forgo some investment opportunities available to funds that do not consider sustainability factors or apply positive or negative screening processes, or that apply different sustainability criteria or screening processes. Consideration of sustainability factors and application of positive and negative screening processes is expected to impact the Fund's exposure to risks associated with certain issuers, industries and sectors, which may impact the Fund's investment performance. The Fund's performance may at times be better or worse than the performance of similar funds that do not consider sustainability factors or apply positive or negative screening processes, or that apply different sustainability criteria or screening processes. "Sustainability" is not a uniformly defined characteristic and consideration of sustainability factors involves subjective assessment. The Fund's investments are expected to include securities of issuers that derive revenue from non-sustainable activities. Sustainability information from third party data providers may be incomplete, inaccurate or unavailable, which could lead to an incorrect assessment of a company's sustainability characteristics.

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Transactions with Related Parties and Service Providers** 

*Advisor*

Under the Fund's investment advisory agreement, the Advisor receives an annual advisory fee of 0.500% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor were permitted to invest in the Fund. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor.

The Advisor has entered into a contractual agreement (the "Expense Limitation Agreement") with the Trust, on behalf of the Fund, under which it has agreed to waive or reduce its management fee and assume other expenses of the Fund, in an amount that limits the Fund's total fund operating expenses 1.35% ("Maximum Operating Expense Limit"). The Advisor will do this buy reimbursing the Fund for certain direct expenses and fees, such as transfer agency, custodial, auditing and legal fees. The Fund also incurs certain indirect expenses, and expenses paid by the Fund when it invests as a shareholder in underlying investment companies. The Advisor has not agreed to waive or reimburse brokerage fees and commissions, acquired fund fees and expenses, fees and expenses associated with investments in other collective investment vehicles or derivatives instruments, borrowing costs, taxes, or extraordinary expense, such as litigation and indemnification expenses. Because the Advisor is not obligated under the Expense Limitation Agreement to pay these expenses, the Fund's total annual fund operating expenses may actually exceed the Maximum Operating Expense Limit. The Expense Limitation Agreement is in effect until January 31, 2026, unless earlier terminated by a majority of the Board of Trustees who are not "interested persons" of the Trust, as defined in the Investment Company Act of 1940, as amended, or a majority vote of the outstanding voting securities of the Trust.

Any fees or expenses waived or reimbursed by the Advisor are subject to repayment by the Fund within three years following the date on which waiver or reimbursement occurred if the Fund is able to make the repayment without exceeding its current Maximum Operating Expense Limit or the Maximum Operating Expense Limit in place at the time of the waiver and/or reimbursement. Prior to October 10, 2024 the Maximum Operating Expense Limit was 0.95%. Please refer to the table below for a breakdown of the reimbursements and repayment periods. There were no fees waived for fiscal years ending September 30, 2024 or September 30, 2025.

---

| | | |
|:---|:---|:---|
| **Fiscal Year/Period End** | **Reimbursement Amount** | **Repayment Date Expiration** |
| September 30, 2025 | $240819 | September 30, 2026 |

---

*Sub-Advisor*

UBS Asset Management (Americas) Inc. (the "Sub-Advisor") is responsible for management of the Fund's investment portfolio according to the Fund's investment objective, policies, and restrictions. The Sub-Advisor is subject to the authority of the Board of Trustees and oversight by the Advisor. The Sub-Advisor is entitled to receive an annual sub-advisory fee, paid by the Advisor – not the Fund – for advisory services provided to the Fund, according to a formula.

*Administrator*

The Fund pays customary fees to The Nottingham Company (the "Administrator") for its services as Fund Administrator and Fund Accountant. Certain officers of the Administrator are also officers of the Trust.

Notes to Financial Statements

*As of September 30, 2025*

*Compliance Services*

ACA Group serves as the Trust's compliance services provider including services as the Trust's Chief Compliance Officer. ACA Group is entitled to receive customary fees from the Fund for its services pursuant to the Compliance Services Agreement with the Fund.

*Transfer Agent*

Nottingham Shareholder Services, LLC ("Transfer Agent") serves as transfer, dividend paying, and shareholder servicing agent for the Fund. For its services, the Transfer Agent is entitled to receive compensation from the Fund pursuant to the Transfer Agent's fee arrangements with the Fund.

*Distributor*

Capital Investment Group, Inc. (the "Distributor") serves as the Fund's principal underwriter and distributor.

&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Distribution and Service Fees** 

The Trustees, including a majority of the Trustees who are not "interested persons" of the Trust as defined in the 1940 Act and who have no direct or indirect financial interest in such plan or in any agreement related to such plan, adopted a distribution plan pursuant to Rule 12b-1 of the 1940 Act (the "Plan"). The 1940 Act regulates the manner in which a regulated investment company may assume expenses of distributing and promoting the sales of its shares and servicing of its shareholder accounts. The Plan provides that the Fund may incur certain expenses, which may not exceed 0.25% per annum of the average daily net assets of the Investor Class Shares for each year elapsed subsequent to adoption of the Plan, for payment to the Distributor and related offering costs.

&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Purchases and Sales of Investment Securities** 

For the fiscal year ended September 30, 2025, the aggregate cost of purchases and proceeds from sales of investment securities (excluding short-term securities) were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases of Non-U.S.<br> Government Securities | Proceeds from Sales of Non-<br> U.S. Government Securities | Purchases of U.S.<br> Government Securities | Proceeds from Sales of U.S.<br> Government Securities |
| $53663700 | $71716936 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;**6.** **Federal Income Tax** 

Distributions are determined in accordance with Federal income tax regulations, which differ from GAAP, and, therefore, may differ significantly in amount or character from net investment income and realized gains for financial reporting purposes. The general ledger is adjusted for permanent book/tax differences to reflect tax character but is not adjusted for temporary differences.

Management has reviewed the Fund's tax positions to be taken on the federal income tax returns for the fiscal years ended September 30, 2022 through September 30, 2025 and determined that the Fund does not have a liability for uncertain tax positions. The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the fiscal year ended September 30, 2025, the Fund did not incur any interest or penalties.

Distributions during the years ended were characterized for tax purposes as follows:

---

| | | |
|:---|:---|:---|
| | September 30, 2025 | September 30, 2024 |
| Ordinary Income | $407761 | $651682 |
| Capital Gains | $9679018 |  |

---

At September 30, 2025, the tax-basis cost of investments and components of accumulated deficit were as follows:

---

| | |
|:---|:---|
| Cost of Investments | $109495545 |
| Gross Unrealized Appreciation | 43411402 |
| Gross Unrealized Depreciation | (4179461) |
| Net Unrealized Appreciation | 39231941 |
| Undistributed Net Investment Income (Loss) – Late Year Loss | (485386) |
| Undistributed Capital Gains | 15111056 |
| Accumulated Surplus (Deficit) | 53857611 |

---

Accumulated net investment losses noted above represent losses for the period January 01, 2025, to September 30, 2025.

These losses have been deferred for the fiscal year ending September 30, 2025, and are available to offset future earnings (if any) in the subsequent period and thereby potentially reduce future taxable distributions.

Notes to Financial Statements

*As of September 30, 2025*

&nbsp;&nbsp;&nbsp;&nbsp;**7.** **Beneficial Ownership** 

The beneficial ownership, either directly or indirectly, of 25% or more of the voting securities of a fund creates a presumption of control of a fund, under Section 2(a)(9) of the Investment Company Act of 1940. As of September 30, 2025, there were no control persons of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;**8.** **Commitments and Contingencies** 

Under the Trust's organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, in the normal course of business, the Trust entered into contracts with its service providers, on behalf of the Fund, and others that provide for general indemnifications. The Fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund. The Fund expects risk of loss to be remote.

**9. New Accounting Pronouncement**

In December 2023, the FASB issued Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. Management is evaluating the impacts of these changes on the Fund's financial statements.

**10.** **Segment Reporting** 

Management has evaluated the impact of adopting ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures with respect to the financial statements and disclosures and determined there is no material impact for the Fund. The Fund operates as a single operating segment. The Fund's income, expenses, assets and performance are regularly monitored for the oversight function of the Fund by the executive officers of the Fund, including the Principal Executive Officer who serves as the Chief Operating Decision Maker ("CDOM"). This information is presented in the financial statements and financial highlights.

**11. Subsequent Events**

In accordance with GAAP, management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date of issuance of these financial statements. Management has concluded there are no additional matters, other than those noted above, requiring recognition or disclosure.

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

**To the Board of Trustees and** 

**Shareholders of the GreenFi Redwood Fund**

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities of the GreenFi Redwood Fund (the "Fund"), including the schedule of investments, as of September 30, 2025, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended and financial highlights for each of the four years in the period then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of September 30, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the four years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

The financial highlights for the period ended September 30, 2021 have been audited by other auditors, whose report dated November 29, 2021 expressed unqualified opinion on such financial statements and financial highlights.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We have served as the Fund's auditor since 2022.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of September 30, 2025 by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

---

| |
|:---|
| ![](redwoodncsr001.jpg) |
| **TAIT, WELLER & BAKER LLP** |

---

**Philadelphia, Pennsylvania**

**November 26, 2025**

Additional Information (Unaudited)

*As of September 30, 2025*

**Tax Information**

We are required to advise you within 60 days of the Fund's fiscal year-end regarding federal tax status of certain distributions received by shareholders during each fiscal year. The following information is provided for the Fund's fiscal year ended September 30, 2025.

During the fiscal year, the Fund paid an income distribution of $TBD.

Dividend and distributions received by retirement plans such as IRAs, Keogh-type plans, and 403(b) plans need not be reported as taxable income. However, many retirement plans may need this information for their annual information meeting.

**Individual shareholders should refer to their Form 1099 or other tax information, which will be mailed in early 2026, to determine the calendar year amounts to be included in their 2024 tax returns. Shareholders should consult a tax advisor regarding the tax consequences of investments in the Fund.**

**Changes In and Disagreements with Accountants**

Not applicable

**Matters Submitted for Shareholder Vote**

A special meeting of the shareholders of the Fund was held on October 4, 2024 to consider four proposals: 1) approval of an investment advisory agreement between Aspiration Funds, on behalf of the Fund, and Mission Investment Advisors LLC; 2) approval of a sub-investment advisory agreement between Mission Investment Advisors LLC and UBS Asset Management (Americas) LLC with respect to the Fund; 3) ratification and approval of an interim investment advisory agreement, dated November 25, 2023, between Aspiration Funds, on behalf of the Fund, and Aspiration Fund Advisor, LLC; and 4) ratification and approval of a second interim investment advisory agreement, dated December 18, 2023, between Aspiration Funds, on behalf of the Fund, and Aspiration Fund Advisor, LLC. A total of 8,276,255.29 shares were entitled to vote at the shareholder meeting. The holders of 4,176,657 shares entitled to vote were represented by proxy at the meeting. The percentage of shares present totaled 50.47%, which constituted a quorum. Each of the proposals were approved. The shareholder votes cast on each proposal were as follows:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Proposal** | &nbsp;&nbsp;**Voted For** | &nbsp;&nbsp;**Voted<br> Against** | &nbsp;&nbsp;**Abstained** |
| &nbsp;&nbsp;Proposal 1 - Approval of an investment advisory agreement between Aspiration Funds, on behalf of the Fund, and Mission Investment Advisors LLC | &nbsp;&nbsp;3370943 | &nbsp;&nbsp;380808 | &nbsp;&nbsp;424906 |
| &nbsp;&nbsp;Proposal 2 - Approval of a sub-investment advisory agreement between Mission Investment Advisors LLC and UBS Asset Management (Americas) LLC with respect to the Fund | &nbsp;&nbsp;3371902 | &nbsp;&nbsp;381796 | &nbsp;&nbsp;422959 |
| &nbsp;&nbsp;Proposal 3 - Ratification and approval of an interim investment advisory agreement, dated November 25, 2023, between Aspiration Funds, on behalf of the Fund, and Aspiration Fund Advisor, LLC | &nbsp;&nbsp;3407705 | &nbsp;&nbsp;332300 | &nbsp;&nbsp;436653 |
| &nbsp;&nbsp;Proposal 4 - Ratification and approval of a second interim investment advisory agreement, dated December 18, 2023, between Aspiration Funds, on behalf of the Fund, and Aspiration Fund Advisor, LLC | &nbsp;&nbsp;3385668 | &nbsp;&nbsp;360147 | &nbsp;&nbsp;430843 |

---

**Remuneration Paid to Directors, Officers and Others**

Refer to the information in the financial statements.

**Approval of Investment Advisory Agreements**

Following approval by shareholders, the investment advisory agreement between Aspiration Funds, on behalf of the Fund, and Mission Investment Advisors LLC and the sub-investment advisory agreement between Mission Investment Advisors LLC and UBS Asset Management (Americas) LLC with respect to the Fund went into effect on October 10, 2024

**GreenFi Redwood Fund**

P.O. Box 69

Rocky Mount, NC 27802-0069

***An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus and summary prospectus, which contain this and other information, are available at***  ***<u>funds.greenfi.com</u> or by calling 800-773-3863. The prospectus should be read carefully before investing.***

**Item 8.** **Changes in and Dis Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.**

Not applicable.

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Included under Item 7 of this Form.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included under Item 7 of this Form.

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable.

---

| | |
|:---|:---|
| **<br> Item 15.** | **Submission of Matters to a Vote of Security Holders.** |

---

None.

**Item 16.** **Control and Procedures**

(a) The President and Principal Executive Officer and the Treasurer, Principal Accounting Officer, and Principal Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as of a date within 90 days of the filing of this report.

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18.** **Recovery of Erroneously Awarded Compensation.**

(a) Not applicable.

(b) Not applicable.

**Item 19.** **Exhibits.**

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.

[Filed herewith.](ex99-coe.htm)

(a)(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed.

Not applicable.

(a)(3) A separate certification for each principal executive and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act.

[Filed herewith.](ex99-cert.htm)

(a)(4) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report or on behalf of the registrant to 10 or more persons.

Not applicable.

(a)(5) Change in the registrant's independent public accountant.

Not applicable.

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

[Filed herewith.](ex99-906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | GreenFi Funds Trust |
| Date: December 1, 2025 | /s/ Tim Newell |
|  | Tim Newell<br> President and Principal Executive Officer |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
|  | /s/ Tim Newell |
| Date: December 1, 2025<br>| Tim Newell<br> President and Principal Executive Officer |
|  | /s/ Matthew Bergin |
| Date: December 1, 2025 | Matthew Bergin<br> Principal Financial Officer |

---

## Ex-99.Code

[GreenFi Funds Trust N-CSR](redwood-ncsr_093025.htm)

**Exhibit 19(a)(1)** 

**CODE OF ETHICS FOR PEO AND PFO**

**I.** **Covered Officers/Purpose of the Code** 

The code of ethics (this "Code") for GreenFi Funds Trust (the "Trust") applies to the Trust's Principal Executive Officer(s) and Principal Financial Officer(s) (the "Covered Officers," each of whom is set forth in Exhibit A) for the purpose of promoting:

● honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

● full, fair, accurate, timely and understandable disclosure in reports and documents that the Trust files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the Trust;

● compliance with applicable laws and governmental rules and regulations;

● the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

● accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II.** **Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest** 

A "conflict of interest" occurs when a Covered Officer's private interests interfere with the interests of, or his service to, the Trust. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Trust.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Trust and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended ("Investment Company Act") and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property, other than shares of beneficial interest of the Trust) with the Trust because of their status as "affiliated persons" of the Trust. The compliance programs and procedures of the Trust or the Trust's investment adviser (the "investment adviser") are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between the Trust and an investment adviser or a third-party service provider of which a Covered Officer is also an officer or employee. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Trust and/or for the investment adviser or third-party service provider) be involved in establishing policies and implementing decisions that will have different effects on the investment adviser(s) or third-party service provider and the Trust. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Trust and the investment adviser or third-party service provider and is consistent with the performance by the Covered Officers of their duties as officers of the Trust. The foregoing activities, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, will be deemed to have been handled ethically. In addition, it is recognized by the Trust's Board of Trustees ("Board") that the Covered Officers may also be officers or employees of one or more investment companies covered by other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but the Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Trust.

1/4

Each Covered Officer must:

● not use personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Trust whereby the Covered Officer would benefit personally to the detriment of the Trust;

● not cause the Trust to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Trust;

● not use material non-public knowledge of portfolio transactions made or contemplated for the Trust to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and

● report at least annually any affiliations or other relationships that could potentially present a conflict of interest with the Trust.

There are some conflict of interest situations that should always be discussed with the Chief Compliance Officer of the Trust (the "CCO"), who may choose to seek the assistance of legal counsel to the Trust ("Trust Counsel"), if such situations might have a material adverse effect on the Trust. Examples of these include:

● service as a director on the board of any public company;

● the receipt of non-nominal gifts from affiliates of the Fund or the Fund's service providers;

● the receipt of entertainment from any company with which the Trust has current or prospective business dealings, including investments in such companies, unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any questions of impropriety;

● any ownership interest in, or any consulting or employment relationship with, any of the Trust's service providers, other than its investment advisers, principal underwriter, administrator or any affiliated person thereof; and

● a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Trust for effecting portfolio transactions, including but not limited to certain soft dollar arrangements, or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

**III.** **Disclosure and Compliance** 

&nbsp;&nbsp;&nbsp;&nbsp;**I.** each Covered Officer shall become familiar with the disclosure
requirements generally applicable to the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;**II.** each Covered Officer shall not knowingly misrepresent, or cause others to misrepresent, facts about the
Trust to others, whether within or outside the Trust, including to the Trust's management and auditors, and to governmental regulators
and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;**III.** each Covered Officer may, to the extent appropriate within the Covered Officer's area of responsibility
and to the extent deemed necessary in the sole discretion of the Covered Officer, consult with other officers and employees of the Trust
and the investment advisers and the Trust's administrator with the goal of promoting full, fair, accurate, timely and understandable
disclosure in the reports and documents the Trust files with, or submits to, the SEC and in other public communications made by the Trust;
and

&nbsp;&nbsp;&nbsp;&nbsp;**IV.** it is the responsibility of each Covered Officer to promote Trust compliance with the standards and restrictions
imposed by applicable laws, rules and regulations.

2/4

**IV.** **Reporting and Accountability** 

Each Covered Officer must:

● upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Board that the Covered Officer has received, read and understands this Code;

● annually thereafter affirm to the Board that the Covered Officer has complied with the requirements of this Code;

● not retaliate against any other Covered Officer or any employee of the Trust or its affiliated persons for reports of potential violations of this Code that are made in good faith; and

● notify the CCO promptly if the Covered Officer knows of any violation of this Code. Failure to do so is itself a violation of this Code.

The CCO may seek the advise of Trust Counsel regarding specific situations in which questions are presented under the Code and the CCO has the authority to interpret this Code in any particular situation. However, any approvals or waivers<sup>1</sup> will be considered by the Board.

The Trust will follow these procedures in investigating and enforcing this Code:

● the CCO shall (with the assistance of Trust Counsel if requested) take all appropriate action to investigate any reported potential violations;

● if, after such investigation, the CCO believes that no violation has occurred, then no further action is required;

● any matter that the CCO believes may be a violation shall be reported to the Trustees of the Trust who are not "interested persons," as defined by Section 2(a)(19) of the Investment Company Act, of the Trust (the "Independent Trustees");

● if the Independent Trustees concur that a violation may have occurred, it will inform and make a recommendation to the Board, which will consider appropriate action, which may include a review of, and appropriate modifications to, applicable Trust policies and procedures; notification to appropriate personnel or the board of the investment adviser or other relevant service provider; or a recommendation to dismiss the Covered Officer;

● the Board will be responsible for granting waivers, as appropriate; and

● any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**V.** **Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by the Trust for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Trust, the Trust's adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Trust's and the investment adviser's and the principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others and are not part of this Code.

**VI.** **Amendments** 

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Board, including a majority of the Independent Trustees.

<sup>1</sup> For this purpose, the term "waiver" includes the approval by the Trust of a material departure from a provision of this Code or the Trust's failure to take action within a reasonable period of time regarding a material departure from a provision of this Code that has been made known to the Trust's management.

3/4

**VII.** **Confidentiality** 

All reports and records of the Trust prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or regulation or this Code, such matters shall not be disclosed to anyone other than an investment adviser to any series of the Trust to which such reports or records relate, the Board, the CCO and Trust Counsel.

**VIII.** **Internal Use** 

The Code is intended solely for the internal use by the Trust and does not constitute an admission, by or on behalf of the Trust, as to any fact, circumstance, or legal conclusion.

Date: February 24, 2014

4/4

## Ex-99.Cert

[GreenFi Funds Trust N-CSR](redwood-ncsr_093025.htm)

**Exhibit 19(a)(3)**

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND<br> SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Tim Newell, certify that:

1. I have reviewed this report on Form N-CSR of the GreenFi Redwood Fund, a series of GreenFi Funds Trust.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this
report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Tim Newell |
| Date: December 1, 2025 |  | Tim Newell<br> President and Principal Executive Officer |

---

**Exhibit 19(a)(3)**

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND<br> SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Matthew Bergin, certify that:

1. I have reviewed this report on Form N-CSR of the GreenFi Redwood Fund, a series of GreenFi Funds Trust.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this
report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Matthew Bergin |
| Date: December 1, 2025 |  | Matthew Bergin<br> Principal Financial Officer |

---

## Exhibit 99.906

[GreenFi Funds Trust N-CSR](redwood-ncsr_093025.htm)

**Exhibit 19(b)**

**CERTIFICATION<br> PURSUANT TO RULE 30A-2(B) UNDER THE INVESTMENT COMPANY ACT OF 1940 AND <br> SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the annual report of the GreenFi Redwood Fund (the "Fund"), a series of the GreenFi Funds Trust on Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission (the "Report"), the undersigned, Tim Newell, President and Principal Executive Officer of the Fund, does hereby certify, to his knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Fund.

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Tim Newell |
| Date: December 1, 2025 |  | Tim Newell<br> President and Principal Executive Officer |

---

A signed original of this written statement required by Section 906 has been provided to the GreenFi Funds Trsut and will be retained by the GreenFi Funds Trust and furnished to the Securities and Exchange Commission or its staff upon request. This certification is being furnished to the Commission pursuant to 18 U.S.C. ss. 1350 and is not being filed as part of the Form N-CSR with the Commission.

**Exhibit 19(b)**

**<br> PURSUANT TO RULE 30A-2(B) UNDER THE INVESTMENT COMPANY ACT OF 1940 AND <br> SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the annual report of the GreenFi Redwood Fund (the "Fund"), a series of the GreenFi Funds Trust on Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission (the "Report"), the undersigned, Matthew Bergin, Principal Financial Officer, does hereby certify, to his knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Fund.

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Matthew Bergin |
| Date: December 1, 2025 |  | Matthew Bergin<br> Principal Financial Officer |

---

A signed original of this written statement required by Section 906 has been provided to the GreenFi Funds Trust and will be retained by the GreenFi Funds Trust and furnished to the Securities and Exchange Commission or its staff upon request. This certification is being furnished to the Commission pursuant to 18 U.S.C. ss. 1350 and is not being filed as part of the Form N-CSR with the Commission.