# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0001387131-23-000830
**Filing Date:** 2023-1
**Character Count:** 37941
**Document Hash:** 73ccd0d8d43b70c2986349314e729708
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-000830.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001387131-23-000830

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Starboard Investment Trust
- **CENTRAL INDEX KEY:** 0001464413
- **IRS NUMBER:** 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:** 23562207

**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

### Adaptive Alpha Opportunities ETF (Series ID: S000070423)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000223904 | Adaptive Alpha Opportunities ETF | AGOX            |

## Nport-Ex

---

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| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP1 | XTR_GROUP2 | 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 | XTR_PRISRC | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | PROCESS_TYPE | 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 |
| 863 | Adaptive Alpha Opportunities ETF | AMP | Ameriprise Financial | Inc |  | 03076C106 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | MN | MINNESOTA | USD | US DOLLAR | 1/0/1900 |  |  | 331.95 |  |  |  |  |  | Ameriprise Financial | Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9745.36 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 1997.00 | 600206.81 | 600206.81 | 662904.15 | 662904.15 | 62697.34 | 62697.34 | 1.47 | False | 0.00 | N/A | 0.38 | 0.37 | 0.37 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | BAC | Bank of America Corp |  |  | 060505104 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 1/0/1900 |  |  | 37.85 |  |  |  |  |  | Bank of America Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10799.02 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 12557.00 | 599571.05 | 599571.05 | 475282.45 | 475282.45 | -124288.60 | -124288.60 | 2.27 | False | 0.00 | N/A | 0.27 | 0.27 | 0.27 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | SCHW | Charles Schwab Corp/ | The |  | 808513105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 82.54 |  |  |  |  |  | Charles Schwab Corp/ | The |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6006.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 7150.00 | 601256.12 | 601256.12 | 590161.00 | 590161.00 | -11095.12 | -11095.12 | 1.02 | False | 0.00 | N/A | 0.33 | 0.33 | 0.33 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | INTU | Intuit Inc |  |  | 461202103 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 407.59 |  |  |  |  |  | Intuit Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3118.92 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 1106.00 | 672749.16 | 672749.16 | 450794.54 | 450794.54 | -221954.62 | -221954.62 | 0.69 | False | 0.00 | N/A | 0.26 | 0.25 | 0.25 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | JPM | JPMorgan Chase & Co |  |  | 46625H100 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 138.18 |  |  |  |  |  | JPMorgan Chase & Co |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13132.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 3283.00 | 560188.76 | 560188.76 | 453644.94 | 453644.94 | -106543.82 | -106543.82 | 2.89 | False | 0.00 | N/A | 0.26 | 0.26 | 0.26 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | META | META PLATFORMS INC. |  |  | 30303M102 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 118.10 |  |  |  |  |  | META PLATFORMS INC. |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 14593.00 | 1603063.59 | 1603063.59 | 1723433.30 | 1723433.30 | 120369.71 | 120369.71 | 0.00 | False | 0.00 | N/A | 0.98 | 0.97 | 0.97 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | MSFT | Microsoft Corp |  |  | 594918104 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 1/0/1900 |  |  | 255.14 |  |  |  |  |  | Microsoft Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5961.92 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 2404.00 | 750292.41 | 750292.41 | 613356.56 | 613356.56 | -136935.85 | -136935.85 | 0.97 | False | 0.00 | N/A | 0.35 | 0.35 | 0.35 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | NFLX | Netflix Inc |  |  | 64110L106 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 305.53 |  |  |  |  |  | Netflix Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 4831.00 | 907854.13 | 907854.13 | 1476015.43 | 1476015.43 | 568161.30 | 568161.30 | 0.00 | False | 0.00 | N/A | 0.84 | 0.83 | 0.83 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | ORCL | Oracle Corp |  |  | 68389X105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 83.03 |  |  |  |  |  | Oracle Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10356.48 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 8091.00 | 781319.12 | 781319.12 | 671795.73 | 671795.73 | -109523.39 | -109523.39 | 1.54 | False | 0.00 | N/A | 0.38 | 0.38 | 0.38 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | PAYC | Paycom Software Inc |  |  | 70432V102 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | OK | OKLAHOMA | USD | US DOLLAR | 1/0/1900 |  |  | 339.10 |  |  |  |  |  | Paycom Software Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 1197.00 | 637103.37 | 637103.37 | 405902.70 | 405902.70 | -231200.67 | -231200.67 | 0.00 | False | 0.00 | N/A | 0.23 | 0.23 | 0.23 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | RJF | Raymond James Financ | ial Inc |  | 754730109 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 1/0/1900 |  |  | 116.90 |  |  |  |  |  | Raymond James Financ | ial Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7757.44 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 5704.00 | 593102.11 | 593102.11 | 666797.60 | 666797.60 | 73695.49 | 73695.49 | 1.16 | False | 0.00 | N/A | 0.38 | 0.38 | 0.38 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | CRM | salesforce.com Inc |  |  | 79466L302 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 160.25 |  |  |  |  |  | salesforce.com Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 2752.00 | 808466.36 | 808466.36 | 441008.00 | 441008.00 | -367458.36 | -367458.36 | 0.00 | False | 0.00 | N/A | 0.25 | 0.25 | 0.25 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | TYL | Tyler Technologies I | nc |  | 902252105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 342.74 |  |  |  |  |  | Tyler Technologies I | nc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 1222.00 | 645909.99 | 645909.99 | 418828.28 | 418828.28 | -227081.71 | -227081.71 | 0.00 | False | 0.00 | N/A | 0.24 | 0.24 | 0.24 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | XLE | Energy Select Sector | SPDR Fund |  | 81369Y506 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 91.15 |  |  |  |  |  | Energy Select Sector | SPDR Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 257021.18 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 84096.00 | 5224733.94 | 5224733.94 | 7665350.40 | 7665350.40 | 2440616.46 | 2440616.46 | 3.35 | False | 0.00 | N/A | 4.35 | 4.33 | 4.33 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | XLF | Financial Select Sec | tor SPDR Fund |  | 81369Y605 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 36.31 |  |  |  |  |  | Financial Select Sec | tor SPDR Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 223858.11 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 332734.00 | 12298800.98 | 12298800.98 | 12081571.54 | 12081571.54 | -217229.44 | -217229.44 | 1.85 | False | 0.00 | N/A | 6.86 | 6.82 | 6.83 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | SKYY | FIRST TRUST CLOUD | COMPUTING ETF |  | 33734X192 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 62.81 |  |  |  |  |  | FIRST TRUST CLOUD | COMPUTING ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 75784.56 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 93816.00 | 8763374.49 | 8763374.49 | 5892582.96 | 5892582.96 | -2870791.53 | -2870791.53 | 1.29 | False | 0.00 | N/A | 3.34 | 3.33 | 3.33 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | LIT | Global X Lithium & | Battery Tech ETF |  | 37954Y855 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 69.45 |  |  |  |  |  | Global X Lithium & | Battery Tech ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15291.58 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 72900.00 | 5414983.14 | 5414983.14 | 5062905.00 | 5062905.00 | -352078.14 | -352078.14 | 0.30 | False | 0.00 | N/A | 2.87 | 2.86 | 2.86 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | XLI | Industrial Select Se | ctor SPDR Fund |  | 81369Y704 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 101.72 |  |  |  |  |  | Industrial Select Se | ctor SPDR Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 122842.68 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 80567.00 | 8294447.57 | 8294447.57 | 8195275.24 | 8195275.24 | -99172.33 | -99172.33 | 1.50 | False | 0.00 | N/A | 4.65 | 4.63 | 4.63 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | DBA | INVESCO AGRICULTURE |  |  | 46140H106 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 20.05 |  |  |  |  |  | INVESCO AGRICULTURE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 50484.96 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 523540.00 | 10229897.33 | 10229897.33 | 10496977.00 | 10496977.00 | 267079.67 | 267079.67 | 0.48 | False | 0.00 | N/A | 5.96 | 5.93 | 5.93 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | DBC | Invesco DB Commodity | Index Tracking Fund |  | 46138B103 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 25.49 |  |  |  |  |  | Invesco DB Commodity | Index Tracking Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 41744.09 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 288547.00 | 5403102.94 | 5403102.94 | 7355063.03 | 7355063.03 | 1951960.09 | 1951960.09 | 0.57 | False | 0.00 | N/A | 4.18 | 4.15 | 4.16 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | PTH | Invesco DWA Healthca | re Momentum ETF |  | 46137V852 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 125.14 |  |  |  |  |  | Invesco DWA Healthca | re Momentum ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 42535.00 | 6371900.03 | 6371900.03 | 5322829.90 | 5322829.90 | -1049070.13 | -1049070.13 | 0.00 | False | 0.00 | N/A | 3.02 | 3.01 | 3.01 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | QQQ | Invesco QQQ Trust Se | ries 1 |  | 46090E103 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 293.36 |  |  |  |  |  | Invesco QQQ Trust Se | ries 1 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 34276.73 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 17390.00 | 5233791.64 | 5233791.64 | 5101530.40 | 5101530.40 | -132261.24 | -132261.24 | 0.67 | False | 0.00 | N/A | 2.90 | 2.88 | 2.88 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | RYT | Invesco S&P 500 | EQUAL WEIGHT |  | 46137V282 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 263.23 |  |  |  |  |  | Invesco S&P 500 | EQUAL WEIGHT |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 52613.54 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 31797.00 | 9127627.16 | 9127627.16 | 8369924.31 | 8369924.31 | -757702.85 | -757702.85 | 0.63 | False | 0.00 | N/A | 4.75 | 4.73 | 4.73 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | EFA | ISHARE MSCI EAFE ETF |  |  | 464287465 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 67.12 |  |  |  |  |  | ISHARE MSCI EAFE ETF |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 215259.83 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 129619.00 | 9945060.34 | 9945060.34 | 8700027.28 | 8700027.28 | -1245033.06 | -1245033.06 | 2.47 | False | 0.00 | N/A | 4.94 | 4.91 | 4.92 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | EWO | ISHARES MSCI AUSTRIA |  |  | 464286202 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 19.81 |  |  |  |  |  | ISHARES MSCI AUSTRIA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 60638.77 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 69272.00 | 1637992.32 | 1637992.32 | 1372493.06 | 1372493.06 | -265499.26 | -265499.26 | 4.42 | False | 0.00 | N/A | 0.78 | 0.78 | 0.78 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | EWT | ISHARES MSCI TAIWAN | ETF |  | 46434G772 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 50.82 |  |  |  |  |  | ISHARES MSCI TAIWAN | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 137871.89 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 78325.00 | 4789260.09 | 4789260.09 | 3980476.50 | 3980476.50 | -808783.59 | -808783.59 | 3.46 | False | 0.00 | N/A | 2.26 | 2.25 | 2.25 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | IAI | iShares U.S. Broker- | Dealers & Securities |  | 464288794 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 103.08 |  |  |  |  |  | iShares U.S. Broker- | Dealers & Securities |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 112713.78 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 53073.00 | 5238955.82 | 5238955.82 | 5470764.84 | 5470764.84 | 231809.02 | 231809.02 | 2.06 | False | 0.00 | N/A | 3.11 | 3.09 | 3.09 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | IHI | iShares U.S. Medical | Devices ETF |  | 464288810 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 53.05 |  |  |  |  |  | iShares U.S. Medical | Devices ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 55886.94 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 72534.00 | 4207147.21 | 4207147.21 | 3847928.70 | 3847928.70 | -359218.51 | -359218.51 | 1.45 | False | 0.00 | N/A | 2.18 | 2.17 | 2.17 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | OGIG | O'SHARES GLOBAL | INTERNET ETF |  | 00162Q361 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 25.12 |  |  |  |  |  | O'SHARES GLOBAL | INTERNET ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 79078.00 | 3957320.00 | 3957320.00 | 1986439.36 | 1986439.36 | -1970880.64 | -1970880.64 | 0.00 | False | 0.00 | N/A | 1.13 | 1.12 | 1.12 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | CWB | SPDR Bloomberg Barcl | ays Convertible Secu |  | 78464A359 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 66.64 |  |  |  |  |  | SPDR Bloomberg Barcl | ays Convertible Secu |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 64734.84 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 45584.00 | 3956522.76 | 3956522.76 | 3037717.76 | 3037717.76 | -918805.00 | -918805.00 | 2.13 | False | 0.00 | N/A | 1.72 | 1.72 | 1.72 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | KCE | SPDR S&P | CAPITAL MARKETS ETF |  | 78464A771 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 85.20 |  |  |  |  |  | SPDR S&P | CAPITAL MARKETS ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 117497.13 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 58428.00 | 5367580.91 | 5367580.91 | 4978065.60 | 4978065.60 | -389515.31 | -389515.31 | 2.36 | False | 0.00 | N/A | 2.83 | 2.81 | 2.81 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | XHS | SPDR S&P | HEALTH CARE ETF |  | 78464A573 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 89.59 |  |  |  |  |  | SPDR S&P | HEALTH CARE ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4983.44 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 30602.00 | 2672235.88 | 2672235.88 | 2741480.17 | 2741480.17 | 69244.29 | 69244.29 | 0.18 | False | 0.00 | N/A | 1.56 | 1.55 | 1.55 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | XAR | SPDR S&P AEROSPACE |  |  | 78464A631 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 110.32 |  |  |  |  |  | SPDR S&P AEROSPACE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 21681.96 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 38559.00 | 4643507.72 | 4643507.72 | 4253828.88 | 4253828.88 | -389678.84 | -389678.84 | 0.51 | False | 0.00 | N/A | 2.41 | 2.40 | 2.40 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | KRE | SPDR S&P Regional Ba | nking ETF |  | 78464A698 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 64.52 |  |  |  |  |  | SPDR S&P Regional Ba | nking ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 156973.99 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 107367.00 | 6927125.27 | 6927125.27 | 6927318.84 | 6927318.84 | 193.57 | 193.57 | 2.27 | False | 0.00 | N/A | 3.93 | 3.91 | 3.92 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | XLK | Technology Select Se | ctor SPDR Fund |  | 81369Y803 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 135.96 |  |  |  |  |  | Technology Select Se | ctor SPDR Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 85203.41 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 68602.00 | 9701004.14 | 9701004.14 | 9327127.92 | 9327127.92 | -373876.22 | -373876.22 | 0.91 | False | 0.00 | N/A | 5.29 | 5.27 | 5.27 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | SMH | VanEck Vectors Semic | onductor ETF |  | 92189F676 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 227.73 |  |  |  |  |  | VanEck Vectors Semic | onductor ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 62837.60 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 39940.00 | 9750714.99 | 9750714.99 | 9095536.20 | 9095536.20 | -655178.79 | -655178.79 | 0.69 | False | 0.00 | N/A | 5.16 | 5.14 | 5.14 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | VNM | VANECK VIETNAM ETF |  |  | 92189F817 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 12.78 |  |  |  |  |  | VANECK VIETNAM ETF |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 35261.13 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 342009.00 | 6634398.82 | 6634398.82 | 4370875.02 | 4370875.02 | -2263523.80 | -2263523.80 | 0.81 | False | 0.00 | N/A | 2.48 | 2.47 | 2.47 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | VAW | Vanguard | Materials ETF |  | 92204A801 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 180.78 |  |  |  |  |  | Vanguard | Materials ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 88877.81 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 27390.00 | 5202870.69 | 5202870.69 | 4951564.20 | 4951564.20 | -251306.49 | -251306.49 | 1.79 | False | 0.00 | N/A | 2.81 | 2.80 | 2.80 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | VFH | Vanguard Financials | ETF |  | 92204A405 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 88.60 |  |  |  |  |  | Vanguard Financials | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 85249.45 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 47324.00 | 4454998.13 | 4454998.13 | 4192906.40 | 4192906.40 | -262091.73 | -262091.73 | 2.03 | False | 0.00 | N/A | 2.38 | 2.37 | 2.37 | 0.00 |  |  |
| 863 | Adaptive Alpha Opportunities ETF | DARXX | DREYFUS TR SEC | CSH MGMT |  | 261941306 | UNGROUPED SECURITIES |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/26/2023 |  |  | 100.00 |  |  |  |  |  | DREYFUS TR SEC | CSH MGMT |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 433108.03 | L<br> N |  |  | 11/30/2022 | T |  | 863;USD | USD | 12339260.00 | 12339260.00 | 12339260.00 | 12339260.00 | 12339260.00 | 0.00 | 0.00 | 3.97 | False | 3.97 |  | 7.00 | 6.97 | 6.97 | 0.00 |  |  |

---

## 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:** Adaptive Alpha Opportunities ETF

- **b. EDGAR series identifier (if any):** S000070423

- **c. LEI of Series:** 549300P51JP3J8J79150

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $177060856.15

**Total Liabilities:** $140654.57

**Net Assets:** $176920201.58

**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 C000223904 | -8.85%               | 6.79%                | 5.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $92471.63                | $-16571948.68                              |
| Month 2  | $-245417.43              | $10766700.93                               |
| Month 3  | $-4447212.79             | $13777298.76                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ameriprise Financial | COMMSTCK | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      2007 | NS      | $666223.65    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp | COMMSTCK | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     12637 | NS      | $478310.45    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| salesforce.com Inc   | COMMSTCK | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2767 | NS      | $443411.75    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc           | COMMSTCK | CUSIP: 461202103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1111 | NS      | $452832.49    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co  | COMMSTCK | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      3303 | NS      | $456408.54    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC.  | COMMSTCK | CUSIP: 30303M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14688 | NS      | $1734652.80   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp       | COMMSTCK | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      2419 | NS      | $617183.66    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc          | COMMSTCK | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      4861 | NS      | $1485181.33   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp          | COMMSTCK | CUSIP: 68389X105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8141 | NS      | $675947.23    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc  | COMMSTCK | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      1202 | NS      | $407598.20    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financ | COMMSTCK | CUSIP: 754730109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5739 | NS      | $670889.10    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/ | COMMSTCK | CUSIP: 808513105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7195 | NS      | $593875.30    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies I | COMMSTCK | CUSIP: 902252105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1227 | NS      | $420541.98    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Bloomberg Barcl | ETF      | CUSIP: 78464A359<br>LEI: 549300IXKU3G7R6DMX93 | Long             | EC               | CORP              | US        |     45884 | NS      | $3057709.76   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO AGRICULTURE  | ETF      | CUSIP: 46140H106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    527015 | NS      | $10566650.75  | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco DB Commodity | ETF      | CUSIP: 46138B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    290462 | NS      | $7403876.38   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARE MSCI EAFE ETF | ETF      | CUSIP: 464287465<br>LEI: 549300O0XO3KDQV68404 | Long             | EC               | CORP              | US        |    130479 | NS      | $8757750.48   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI AUSTRIA | ETF      | CUSIP: 464286202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69272 | NS      | $1372493.06   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI TAIWAN  | ETF      | CUSIP: 46434G772<br>LEI: NOTS2OVXOI43240U2196 | Long             | EC               | CORP              | US        |     78840 | NS      | $4006648.80   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Broker- | ETF      | CUSIP: 464288794<br>LEI: 54930085FJMZ4CBKDP12 | Long             | EC               | CORP              | US        |     53423 | NS      | $5506842.84   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Medical | ETF      | CUSIP: 464288810<br>LEI: 549300MTJJWSCQO9N641 | Long             | EC               | CORP              | US        |     73014 | NS      | $3873392.70   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P             | ETF      | CUSIP: 78464A771<br>LEI: 549300BBJPWNKDPREW36 | Long             | EC               | CORP              | US        |     58428 | NS      | $4978065.60   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Regional Ba | ETF      | CUSIP: 78464A698<br>LEI: 549300EFWJBKUN6WJX52 | Long             | EC               | CORP              | US        |    108077 | NS      | $6973128.04   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Lithium &   | ETF      | CUSIP: 37954Y855<br>LEI: 5493004G7TKT5SOCWN15 | Long             | EC               | CORP              | US        |     73380 | NS      | $5096241.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| O'SHARES GLOBAL      | ETF      | CUSIP: 00162Q361<br>LEI: 54930012BL04M0OMCP81 | Long             | EC               | CORP              | US        |     79598 | NS      | $1999501.76   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco DWA Healthca | ETF      | CUSIP: 46137V852<br>LEI: 549300HW4X5F66JYEL71 | Long             | EC               | CORP              | US        |     42815 | NS      | $5357869.10   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Se | ETF      | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | CORP              | US        |     17505 | NS      | $5135266.80   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco S&P 500      | ETF      | CUSIP: 46137V282<br>LEI: 549300AMYKGRJ1UHN136 | Long             | EC               | CORP              | US        |     32007 | NS      | $8425202.61   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST TRUST CLOUD    | ETF      | CUSIP: 33734X192<br>LEI: 5493006AUYA2BRBGB132 | Long             | EC               | CORP              | US        |     94436 | NS      | $5931525.16   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Vectors Semic | ETF      | CUSIP: 92189F676<br>LEI: 549300MJTG2N9QRH7I02 | Long             | EC               | CORP              | US        |     40205 | NS      | $9155884.65   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard             | ETF      | CUSIP: 92204A801<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27570 | NS      | $4984104.60   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Financials  | ETF      | CUSIP: 92204A405<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | CORP              | US        |     47634 | NS      | $4220372.40   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VANECK VIETNAM ETF   | ETF      | CUSIP: 92189F817<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    344279 | NS      | $4399885.62   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P AEROSPACE   | ETF      | CUSIP: 78464A631<br>LEI: 5493006TZ0473G1GOE68 | Long             | EC               | CORP              | US        |     38814 | NS      | $4281960.48   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P             | ETF      | CUSIP: 78464A573<br>LEI: 549300JPXFHZOFFNSZ24 | Long             | EC               | CORP              | US        |     30602 | NS      | $2741480.17   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Select Sector | ETF      | CUSIP: 81369Y506<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84651 | NS      | $7715938.65   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Select Sec | ETF      | CUSIP: 81369Y605<br>LEI: 549300Y12KQ6ZG08NY28 | Long             | EC               | CORP              | US        |    334939 | NS      | $12161635.09  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Select Se | ETF      | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Long             | EC               | CORP              | US        |     81097 | NS      | $8249186.84   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Technology Select Se | ETF      | CUSIP: 81369Y803<br>LEI: 549300BR5T0JNM2MW070 | Long             | EC               | CORP              | US        |     69057 | NS      | $9388989.72   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DREYFUS TR SEC       | MONEYMKT | CUSIP: 261941306<br>LEI: 549300U78VESCW509025 | Long             | STIV             |  | US        |  12339260 | NS      | $12339260.00  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-19

**Name of Applicant:** Starboard Investment Trust

**Signature:** Ashley Lanham

**Name of Signer:** Ashley Lanham

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