# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0002000324-26-002007
**Filing Date:** 2026-5
**Character Count:** 35830
**Document Hash:** 1bb1d473f58ca2fc80b76f940edff59b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-002007.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0002000324-26-002007

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Starboard Investment Trust
- **CENTRAL INDEX KEY:** 0001464413

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22298
- **FILM NUMBER:** 261015097

**BUSINESS ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069
- **BUSINESS PHONE:** 252-972-9922 EXT.249

**MAIL ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069

## Series and Classes Contracts Data

### Matisse Discounted Closed-End Fund Strategy (Series ID: S000038548)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000119000 | Institutional Class Shares | MDCEX           |

## Nport-Ex

---

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| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | XTR_GROUP1 | XTR_CATGRY | XTR_CATDSC | XTR_SECTOR | XTR_SECTR1 | XTR_SECTR2 | XTR_CONTRY | XTR_CONDSC | XTR_STATE | XTR_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | MULTICURR | ISBASCURR | POS_INCOM | CLASS | LONGSHORT | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 125 | Matisse Discounted Closed-End Fund | BPRE | Bluerock Total Incom | e+ Real Estate Fund |  | 09631P102 |  | UNGROUPED SECURITIES | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 16.61 |  |  |  |  | Bluerock Total Incom | e+ Real Estate Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 160000.00 | 2342380.38 | 2342380.38 | 2657600.00 | 2657600.00 | 315219.62 | 315219.62 | 0.00 | False | 0.00 | N/A | 4.12 | 3.91 | 4.10 | 0.00 |  |  | BPRE<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | FSSL | FS Specialty Lending | Fund |  | 644323107 |  | UNGROUPED SECURITIES | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 12.51 |  |  |  |  | FS Specialty Lending | Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 190000.00 | 2524583.06 | 2524583.06 | 2376900.00 | 2376900.00 | -147683.06 | -147683.06 | 0.00 | False | 0.00 | N/A | 3.69 | 3.50 | 3.66 | 0.00 |  |  | FSSL<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | PCQ | PIMCO California Mun | icipal Income Fund |  | 72200N106 |  | UNGROUPED SECURITIES | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 8.58 |  |  |  |  | PIMCO California Mun | icipal Income Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 112411.00 | 927493.02 | 927493.02 | 964486.38 | 964486.38 | 36993.36 | 36993.36 | 0.00 | False | 0.00 | N/A | 1.50 | 1.42 | 1.49 | 0.00 |  |  | PCQ<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | BTX | BlackRock Technology | and Private Equity T |  | 09260Q108 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 6.60 |  |  |  |  | BlackRock Technology | and Private Equity T |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 291080.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 380000.00 | 2607632.66 | 2607632.66 | 2508000.00 | 2508000.00 | -99632.66 | -99632.66 | 11.61 | False | 0.00 | N/A | 3.89 | 3.69 | 3.87 | 0.00 |  | 549300LRIF3NWCU26A80 | BTX<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | CEE | Central and Eastern | Europe Fund Inc |  | 153436100 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 18.30 |  |  |  |  | Central and Eastern | Europe Fund Inc |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 12408.18 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 33995.00 | 866565.88 | 866565.88 | 622108.50 | 622108.50 | -244457.38 | -244457.38 | 1.99 | False | 0.00 | N/A | 0.96 | 0.92 | 0.96 | 0.00 |  |  | CEE<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | CET | Central Securities C | orp |  | 155123102 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 49.66 |  |  |  |  | Central Securities C | orp |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 74000.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 40000.00 | 1497645.89 | 1497645.89 | 1986400.00 | 1986400.00 | 488754.11 | 488754.11 | 3.73 | False | 0.00 | N/A | 3.08 | 2.92 | 3.06 | 0.00 |  |  | CET<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | GLV | Clough Global | Dividend and Income |  | 18913Y103 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 1/0/1900 |  |  | 5.92 |  |  |  |  | Clough Global | Dividend and Income |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 166683.37 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 232798.00 | 1153937.41 | 1153937.41 | 1378164.16 | 1378164.16 | 224226.75 | 224226.75 | 12.09 | False | 0.00 | N/A | 2.14 | 2.03 | 2.12 | 0.00 |  |  | GLV<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | GLO | CLOUGH GLOBAL | OPPORTUNITIES FUND |  | 18914E106 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 1/0/1900 |  |  | 5.57 |  |  |  |  | CLOUGH GLOBAL | OPPORTUNITIES FUND |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 173194.38 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 298611.00 | 1358476.23 | 1358476.23 | 1663263.27 | 1663263.27 | 304787.04 | 304787.04 | 10.41 | False | 0.00 | N/A | 2.58 | 2.45 | 2.56 | 0.00 |  |  | GLO<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | GLQ | CLOUGH GLOBAL EQUITY | FUND |  | 18914C100 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 1/0/1900 |  |  | 7.53 |  |  |  |  | CLOUGH GLOBAL EQUITY | FUND |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 33061.06 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 45982.00 | 253082.11 | 253082.11 | 346244.46 | 346244.46 | 93162.35 | 93162.35 | 9.55 | False | 0.00 | N/A | 0.54 | 0.51 | 0.53 | 0.00 |  |  | GLQ<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | DMA | Destra Multi-Alterna | tive Fund |  | 25065A502 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 8.11 |  |  |  |  | Destra Multi-Alterna | tive Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 102108.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 268000.00 | 1826250.39 | 1826250.39 | 2173480.00 | 2173480.00 | 347229.61 | 347229.61 | 4.70 | False | 0.00 | N/A | 3.37 | 3.20 | 3.35 | 0.00 |  |  | DMA<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | BXSY | Dividend and Income | Fund |  | 25538A204 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 14.74 |  |  |  |  | Dividend and Income | Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 141063.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 141063.00 | 1824155.79 | 1824155.79 | 2079832.87 | 2079832.87 | 255677.08 | 255677.08 | 6.78 | False | 0.00 | N/A | 3.22 | 3.06 | 3.21 | 0.00 |  |  | BXSY<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | EEA | EUROPEAN EQUITY FUND | INC |  | 298768102 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 9.89 |  |  |  |  | EUROPEAN EQUITY FUND | INC |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 25176.32 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 141440.00 | 1167444.64 | 1167444.64 | 1398841.60 | 1398841.60 | 231396.96 | 231396.96 | 1.80 | False | 0.00 | N/A | 2.17 | 2.06 | 2.16 | 0.00 |  |  | EEA<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | EXXRF | EXOR Holdings N.V. |  |  | N3140A107 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | NLG | NETHERLANDS |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 77.00<br> M |  |  |  |  | EXOR Holdings N.V. |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 8000.00 | 650533.46 | 650533.46 | 616000.00 | 616000.00 | -34533.46 | -34533.46 | 0.00 | False | 0.00 | N/A | 0.96 | 0.91 | 0.95 | 0.00 |  |  | EXXRF<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | HGLB | HIGHLAND GLOBAL | ALLOCATION FUND |  | 43010T104 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 8.03 |  |  |  |  | HIGHLAND GLOBAL | ALLOCATION FUND |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 292320.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 290000.00 | 2353480.03 | 2353480.03 | 2328700.00 | 2328700.00 | -24780.03 | -24780.03 | 12.55 | False | 0.00 | N/A | 3.61 | 3.43 | 3.59 | 0.00 |  |  | HGLB<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | HFRO | HIGHLAND INCOME FUND |  |  | 43010E404 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 5.71 |  |  |  |  | HIGHLAND INCOME FUND |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 351120.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 380000.00 | 3093145.44 | 3093145.44 | 2169800.00 | 2169800.00 | -923345.44 | -923345.44 | 16.18 | False | 0.00 | N/A | 3.36 | 3.19 | 3.35 | 0.00 |  |  | HFRO<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | CAF | Morgan Stanley China | A Share Fund Inc |  | 617468103 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 17.50 |  |  |  |  | Morgan Stanley China | A Share Fund Inc |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 296.30 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 109619.00 | 1301548.78 | 1301548.78 | 1918332.50 | 1918332.50 | 616783.72 | 616783.72 | 0.02 | False | 0.00 | N/A | 2.97 | 2.82 | 2.96 | 0.00 |  |  | CAF<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | NBXG | Neuberger Berman Nex | t Generation Connect |  | 64133Q108 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 12.87 |  |  |  |  | Neuberger Berman Nex | t Generation Connect |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 155748.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 129790.00 | 2111206.97 | 2111206.97 | 1670397.30 | 1670397.30 | -440809.67 | -440809.67 | 9.32 | False | 0.00 | N/A | 2.59 | 2.46 | 2.58 | 0.00 |  | 549300XIWEKOTC8HO652 | NBXG<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | NXDT | NexPoint Diversified | Real Estate |  | 65340G205 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 4.67 |  |  |  |  | NexPoint Strategic O | pportunities Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 526683.60 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 877806.00 | 5035308.99 | 5035308.99 | 4099354.02 | 4099354.02 | -935954.97 | -935954.97 | 12.85 | False | 0.00 | N/A | 6.36 | 6.04 | 6.32 | 0.00 |  |  | NXDT<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | PSH NA | Pershing Square Hold | ings Ltd/Fund |  | G7016V101 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | GG | GUERNSEY |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 53.60<br> M |  |  |  |  | Pershing Square Hold | ings Ltd/Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 32618.46 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 62368.00 | 2420807.24 | 2420807.24 | 3342924.80 | 3342924.80 | 922117.56 | 922117.56 | 0.98 | False | 0.00 | N/A | 5.18 | 4.92 | 5.15 | 0.00 |  |  | PSH NA<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | RGT | ROYCE GLOBAL VALUE |  |  | 78081T104 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 13.36 |  |  |  |  | ROYCE GLOBAL VALUE |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 188000.00 | 2130087.98 | 2130087.98 | 2512056.00 | 2512056.00 | 381968.02 | 381968.02 | 0.00 | False | 0.00 | N/A | 3.89 | 3.70 | 3.87 | 0.00 |  |  | RGT<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | BRW | Saba Capital Income | & Opportunities Fund |  | 78518H202 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | AZ | ARIZONA | USD | US DOLLAR | 1/0/1900 |  |  | 6.74 |  |  |  |  | Saba Capital Income | & Opportunities Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 43858.10 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 41493.00 | 308736.97 | 308736.97 | 279662.82 | 279662.82 | -29074.15 | -29074.15 | 15.68 | False | 0.00 | N/A | 0.43 | 0.41 | 0.43 | 0.00 |  | YCZ8C13B1NIESD9DNZ63 | BRW<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | STEW | SRH Total Return | Fund, Inc. |  | 101507101 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 1/0/1900 |  |  | 17.10 |  |  |  |  | SRH Total Return | Fund, Inc. |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 70000.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 140000.00 | 2031991.89 | 2031991.89 | 2394000.00 | 2394000.00 | 362008.11 | 362008.11 | 2.92 | False | 0.00 | N/A | 3.71 | 3.52 | 3.69 | 0.00 |  |  | STEW<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | SWZ | SWISS HELVETIA FUND |  |  | 870875101 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 5.93 |  |  |  |  | SWISS HELVETIA FUND |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 157933.91 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 259717.00 | 1595091.33 | 1595091.33 | 1540121.81 | 1540121.81 | -54969.52 | -54969.52 | 10.25 | False | 0.00 | N/A | 2.39 | 2.27 | 2.37 | 0.00 |  |  | SWZ<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | TDF | Templeton Dragon | Fund Inc |  | 88018T101 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 1/0/1900 |  |  | 10.61 |  |  |  |  | Templeton Dragon | Fund Inc |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 273294.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 210000.00 | 1855481.16 | 1855481.16 | 2228100.00 | 2228100.00 | 372618.84 | 372618.84 | 12.27 | False | 0.00 | N/A | 3.45 | 3.28 | 3.44 | 0.00 |  |  | TDF<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | TFG NA | TETRAGON FINANCIAL | GROUP LTD |  | G8766R134 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | GG | GUERNSEY |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 14.00<br> M |  |  |  |  | TETRAGON FINANCIAL | GROUP LTD |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 140699.24 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 319771.00 | 2863549.31 | 2863549.31 | 4476794.00 | 4476794.00 | 1613244.69 | 1613244.69 | 3.14 | False | 0.00 | N/A | 6.94 | 6.59 | 6.90 | 0.00 |  |  | TFG NA<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | FSCO | The FS Credit | Opportunities Corp |  | 30290Y101 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 5.10 |  |  |  |  | The FS Credit | Opportunities Corp |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 300330.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 470000.00 | 2863752.12 | 2863752.12 | 2397000.00 | 2397000.00 | -466752.12 | -466752.12 | 12.53 | False | 0.00 | N/A | 3.72 | 3.53 | 3.70 | 0.00 |  |  | FSCO<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | KF | THE KOREA FUND |  |  | 500634209 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 44.90 |  |  |  |  | THE KOREA FUND |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 2644.44 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 49895.00 | 1030712.76 | 1030712.76 | 2240285.50 | 2240285.50 | 1209572.74 | 1209572.74 | 0.12 | False | 0.00 | N/A | 3.47 | 3.30 | 3.45 | 0.00 |  |  | KF<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | MLHL LN | Third Point Investor | Ltd |  | G8827C100 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | GG | GUERNSEY |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 15.93<br> M |  |  |  |  | Third Point Investor | Ltd |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 130000.00 | 2643844.05 | 2643844.05 | 2070250.00 | 2070250.00 | -573594.05 | -573594.05 | 0.00 | False | 0.00 | N/A | 3.21 | 3.05 | 3.19 | 0.00 |  |  | MLHL LN | MP |
| 125 | Matisse Discounted Closed-End Fund | XFLT | XAI Octagon Floating | Rate Alternative In |  | 98400T304 | 1022 | Closed-end Funds | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 17.18 |  |  |  |  | XAI Octagon Floating | Rate Alternative In |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 143856.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 148000.00 | 3434873.85 | 3434873.85 | 2542640.00 | 2542640.00 | -892233.85 | -892233.85 | 5.66 | False | 0.00 | N/A | 3.94 | 3.74 | 3.92 | 0.00 |  |  | XFLT<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | MXE | Mexico Equity & Inco | me Fund Inc/Fund |  | 592834105 | 1029 | Country Funds-Closed<br> end | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | WI | WISCONSIN | USD | US DOLLAR | 1/0/1900 |  |  | 12.90 |  |  |  |  | Mexico Equity & Inco | me Fund Inc/Fund |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 39732.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 132000.00 | 1122576.86 | 1122576.86 | 1702800.00 | 1702800.00 | 580223.14 | 580223.14 | 2.33 | False | 0.00 | N/A | 2.64 | 2.51 | 2.63 | 0.00 |  |  | MXE<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | MXF | Mexico Fund Inc/The |  |  | 592835102 | 1029 | Country Funds-Closed<br> end | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 20.93 |  |  |  |  | Mexico Fund Inc/The |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 104000.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 130000.00 | 1882962.52 | 1867331.60 | 2720900.00 | 2720900.00 | 853568.40 | 853568.40 | 3.82 | False | 0.00 | N/A | 4.22 | 4.01 | 4.20 | 0.00 |  |  | MXF<br> N | MP |
| 125 | Matisse Discounted Closed-End Fund | TWN | Taiwan Fund Inc/The |  |  | 874036106 | 1029 | Country Funds-Closed<br> end | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 65.74 |  |  |  |  | Taiwan Fund Inc/The |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 22724.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 52000.00 | 1525394.85 | 1525394.85 | 3418480.00 | 3418480.00 | 1893085.15 | 1893085.15 | 0.66 | False | 0.00 | N/A | 5.30 | 5.03 | 5.27 | 0.00 |  |  | TWN | MP |
| 125 | Matisse Discounted Closed-End Fund | NTAS LN | North Atlantic Small | er Cos Investment Tr |  | BRDXZ87 |  | UNGROUPED SECURITIES | FOREIGN | FOREIGN EQUITIES |  |  |  | UKS | UNITED KINGDOM |  |  | GBP | BRITISH POUND | 1/0/1900 |  |  | 4.43 |  |  |  |  | North Atlantic Small | er Cos Investment Tr |  |  |  |  | 5 | 2 | 4 | 3 | Y | False | 0.00 |  | L<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | 130000.00 | 662161.71 | 662161.71 | 576363.16 | 576363.16 | -85798.55 | -85798.55 | 0.00 | False | 0.00 | N/A | 0.89 | 0.85 | 0.89 | 0.00 |  |  | NTAS LN | MP |
| 125 | Matisse Discounted Closed-End Fund | REPO.4 | REPURCHASE AGREEMENT | OPEN 02/06/2026 |  | REPO.4 |  | UNGROUPED SECURITIES | REPO | Repurchase Agreement |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/6/2026 |  |  | 100.00 |  |  |  |  | REPURCHASE AGREEMENT | OPEN 02/06/2026 |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | -100000.00 |  | S<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | -2000000.00 | -2000000.00 | -2000000.00 | -2000000.00 | -2000000.00 | 0.00 | 0.00 | -5.00 | False | 5.00 |  | -3.10 | -2.94 | -3.08 | 0.00 |  |  | REPO.4<br> N | AC |
| 125 | Matisse Discounted Closed-End Fund | REPO.6 | REPURCHASE AGREEMENT | OPEN 03/02/2026 |  | REPO.6 |  | UNGROUPED SECURITIES | REPO | Repurchase Agreement |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 8/2/2026 |  |  | 100.00 |  |  |  |  | REPURCHASE AGREEMENT | OPEN 03/02/2026 |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | -25000.00 |  | S<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | -500000.00 | -500000.00 | -500000.00 | -500000.00 | -500000.00 | 0.00 | 0.00 | -5.00 | False | 5.00 |  | -0.78 | -0.74 | -0.77 | 0.00 |  |  | REPO.6<br> N | AC |
| 125 | Matisse Discounted Closed-End Fund | REPO.8 | REPURCHASE AGREEMENT | OPEN 03/30/2026 |  | REPO.8 |  | UNGROUPED SECURITIES | REPO | Repurchase Agreement |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 8/30/2026 |  |  | 100.00 |  |  |  |  | REPURCHASE AGREEMENT | OPEN 03/30/2026 |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | -20000.00 |  | S<br> N |  |  | 3/31/2026<br> C |  | 125;USD | USD | -400000.00 | -400000.00 | -400000.00 | -400000.00 | -400000.00 | 0.00 | 0.00 | -5.00 | False | 5.00 |  | -0.62 | -0.59 | -0.62 | 0.00 |  |  | REPO.8<br> N | AC |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Starboard Investment Trust

- **b. Investment Company Act file number:** 811-22298

- **c. CIK number of Registrant:** 0001464413

- **d. LEI of Registrant:** 549300IGQEISLESO0528

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 116 South Franklin Street

  - **City:** Rocky Mount

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 27804

  - **Telephone number:** 252-972-9922

**Item A.2. Information about the Series.**

- **a. Name of Series:** Matisse Discounted Closed-End Fund Strategy

- **b. EDGAR series identifier (if any):** S000038548

- **c. LEI of Series:** 549300ZSVXX0LZMMTD36

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $67920465.86

**Total Liabilities:** $3061103.16

**Net Assets:** $64859362.70

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000119000 | 3.56%                | -0.96%               | -5.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $523261.15               | $1734874.53                                |
| Month 2  | $237044.08               | $-1228706.44                               |
| Month 3  | $220111.97               | $-4003441.78                               |

### Schedule of Portfolio Investments

| Name                 | Title    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bluerock Total Incom | CLOSED-E | CUSIP: 09631P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    160000 | NS      | $2657600.00   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Saba Capital Income  | CLOSED-E | CUSIP: 78518H202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41493 | NS      | $279662.82    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Technology | CLOSED-E | CUSIP: 09260Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    380000 | NS      | $2508000.00   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Dividend and Income  | CLOSED-E | CUSIP: 25538A204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    141063 | NS      | $2079832.87   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley China | CLOSED-E | CUSIP: 617468103<br>LEI: 54930045HQ1UNO6FR635 | Long             | EC               | CORP              | US        |    109619 | NS      | $1918332.50   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Central and Eastern  | CLOSED-E | CUSIP: 153436100<br>LEI: 549300TSXFIOF89ZI608 | Long             | EC               | CORP              | US        |     33995 | NS      | $622108.50    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Securities C | CLOSED-E | CUSIP: 155123102<br>LEI: 549300D87MQ4TEVRK235 | Long             | EC               | CORP              | US        |     40000 | NS      | $1986400.00   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Destra Multi-Alterna | CLOSED-E | CUSIP: 25065A502<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    268000 | NS      | $2173480.00   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| EUROPEAN EQUITY FUND | CLOSED-E | CUSIP: 298768102<br>LEI: 5493008XBHSH29XH9329 | Long             | EC               | CORP              | US        |    141440 | NS      | $1398841.60   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EXOR Holdings N.V.   | CLOSED-E | CUSIP: N3140A107<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |      8000 | NS      | $616000.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| The FS Credit        | CLOSED-E | CUSIP: 30290Y101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    470000 | NS      | $2397000.00   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| FS Specialty Lending | CLOSED-E | CUSIP: 644323107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    190000 | NS      | $2376900.00   | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUGH GLOBAL        | CLOSED-E | CUSIP: 18914E106<br>LEI: 549300DTG68UBCNCPY15 | Long             | EC               | CORP              | US        |    298611 | NS      | $1663263.27   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUGH GLOBAL EQUITY | CLOSED-E | CUSIP: 18914C100<br>LEI: 549300SI1THLT6A9J147 | Long             | EC               | CORP              | US        |     45982 | NS      | $346244.46    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global        | CLOSED-E | CUSIP: 18913Y103<br>LEI: 5493001GFY6TW0CYCT15 | Long             | EC               | CORP              | US        |    232798 | NS      | $1378164.16   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HIGHLAND INCOME FUND | CLOSED-E | CUSIP: 43010E404<br>LEI: 254900CMUE9FRYL2UR80 | Long             | EC               | CORP              | US        |    380000 | NS      | $2169800.00   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HIGHLAND GLOBAL      | CLOSED-E | CUSIP: 43010T104<br>LEI: 549300Y627XJ58WI3L10 | Long             | EC               | CORP              | US        |    290000 | NS      | $2328700.00   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KOREA FUND       | CLOSED-E | CUSIP: 500634209<br>LEI: 549300M4Y1IG0WPTKC03 | Long             | EC               | CORP              | US        |     49895 | NS      | $2240285.50   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Third Point Investor | CLOSED-E | CUSIP: G8827C100<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |    130000 | NS      | $2070250.00   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Equity & Inco | CLOSED-E | CUSIP: 592834105<br>LEI: 549300Q0OD8MQEFTBY23 | Long             | EC               | CORP              | US        |    132000 | NS      | $1702800.00   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Fund Inc/The  | CLOSED-E | CUSIP: 592835102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    130000 | NS      | $2720900.00   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman Nex | CLOSED-E | CUSIP: 64133Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    129790 | NS      | $1670397.30   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Diversified | CLOSED-E | CUSIP: 65340G205<br>LEI: 5493008KGR2NU3OXMR64 | Long             | EC               | CORP              | US        |    877806 | NS      | $4099354.02   | 6.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO California Mun | CLOSED-E | CUSIP: 72200N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112411 | NS      | $964486.38    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pershing Square Hold | CLOSED-E | CUSIP: G7016V101<br>LEI: U7LC4KOKCTZ0YWGI2G56 | Long             | EC               | CORP              | GG        |     62368 | NS      | $3342924.80   | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYCE GLOBAL VALUE   | CLOSED-E | CUSIP: 78081T104<br>LEI: 254900MA25TE88EMIP63 | Long             | EC               | CORP              | US        |    188000 | NS      | $2512056.00   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SRH Total Return     | CLOSED-E | CUSIP: 101507101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    140000 | NS      | $2394000.00   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SWISS HELVETIA FUND  | CLOSED-E | CUSIP: 870875101<br>LEI: 549300HQZ0XPGTS5Q724 | Long             | EC               | CORP              | US        |    259717 | NS      | $1540121.81   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Templeton Dragon     | CLOSED-E | CUSIP: 88018T101<br>LEI: 549300L5KGV2K28LYW59 | Long             | EC               | CORP              | US        |    210000 | NS      | $2228100.00   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRAGON FINANCIAL   | CLOSED-E | CUSIP: G8766R134<br>LEI: 14URO7KANNWKTLQY7F55 | Long             | EC               | CORP              | GG        |    319771 | NS      | $4476794.00   | 6.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Fund Inc/The  | CLOSED-E | CUSIP: 874036106<br>LEI: 549300B0OHIYIAWV0Z83 | Long             | EC               | CORP              | US        |     52000 | NS      | $3418480.00   | 5.27%             |  |  |  | No            |                  1 | On Loan: No      |
| XAI Octagon Floating | CLOSED-E | CUSIP: 98400T304<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    148000 | NS      | $2542640.00   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| North Atlantic Small | FOREIGN  | CUSIP: G66132120<br>LEI: N/A                  | Long             |  | CORP              | GB        |    130000 | NS      | $576363.16    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| REPURCHASE AGREEMENT | REPO     | CUSIP: N/A<br>LEI: N/A                        | Short            | DBT              |  | US        |  -2000000 | NS      | $-2000000.00  | -3.08%            | 2026-07-06      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| REPURCHASE AGREEMENT | REPO     | CUSIP: N/A<br>LEI: N/A                        | Short            | DBT              |  | US        |   -500000 | NS      | $-500000.00   | -0.77%            | 2026-08-02      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| REPURCHASE AGREEMENT | REPO     | CUSIP: N/A<br>LEI: N/A                        | Short            | DBT              |  | US        |   -400000 | NS      | $-400000.00   | -0.62%            | 2026-08-30      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-19

**Name of Applicant:** Starboard Investment Trust

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

**Title:** Principal Accounting Officer/Principal Financial Officer