# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001752724-25-161701
**Filing Date:** 2025-6
**Character Count:** 11604
**Document Hash:** 407cc24929be2a49000144a51910b2c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-161701.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-161701

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Roads Shared Trust
- **CENTRAL INDEX KEY:** 0001552947

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22718
- **FILM NUMBER:** 251084752

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Tactical Dividend and Momentum Fund (Series ID: S000050364)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000159026 | Tactical Dividend and Momentum Fund Class A Shares | HTDAX           |
| C000159027 | Tactical Dividend and Momentum Fund Class C Shares | HTDCX           |
| C000159028 | Tactical Dividend and Momentum Fund Class I Shares | HTDIX           |
| C000159029 | Tactical Dividend and Momentum Fund Class R Shares | HTDRX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **TACTICAL DIVIDEND AND MOMENTUM FUND** | **TACTICAL DIVIDEND AND MOMENTUM FUND** | **TACTICAL DIVIDEND AND MOMENTUM FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 95.9%** |  |
|  | **EQUITY - 95.9%** |  |
| 81828 | Communication Services Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; $7809664 |
| 43139 | Consumer Discretionary Select Sector SPDR Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8509599 |
| 62447 | Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 5110038 |
| 32050 | Energy Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 2580025 |
| 247533 | Financial Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 12069709 |
| 63886 | Health Care Select Sector SPDR Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8974066 |
| 54057 | Industrial Select Sector SPDR Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 7093360 |
| 19752 | Materials Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 1656995 |
| 45322 | Real Estate Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 1871799 |
| 40410 | Technology Select Sector SPDR Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8484888 |
| 26995 | Utilities Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 2129906 |
| 29026 | Vanguard Information Technology ETF | &nbsp;&nbsp;&nbsp; 15948335 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $71,322,712)** | &nbsp;&nbsp; 82238384 |
|  | **SHORT-TERM INVESTMENTS — 12.3%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 8.0%** |  |
| 6826918 | Dreyfus Government Cash Management Fund, Institutional Class, 4.16% (Cost $6,826,918)<sup>(b),(c)</sup> | &nbsp;&nbsp;&nbsp; 6826918 |
|  | **MONEY MARKET FUNDS - 4.3%** |  |
| 3707738 | MSILF Treasury Securities Portfolio, Institutional Class, 4.14% (Cost $3,707,738)<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 3707738 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $10,534,656)** | 10534656 |
|  | **TOTAL INVESTMENTS - 108.2% (Cost $81,857,368)** | &nbsp;&nbsp;&nbsp; $92773040 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (8.2)%** | &nbsp;&nbsp; (7025216) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $85747824 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of April 30, 2025 was $10,156,420.

<sup>(b)</sup> Security was purchased with cash received as collateral for securities on loan at April 30, 2025. Total collateral had a value of $6,826,918 at April 30, 2025. Additional non-cash collateral received from the borrower not disclosed in the Schedule of Investments had a value of $3,598,441.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of April 30, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Two Roads Shared Trust

- **b. Investment Company Act file number:** 811-22718

- **c. CIK number of Registrant:** 0001552947

- **d. LEI of Registrant:** 549300REHU8QC2CK4V30

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 402-895-1600

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

- **a. Name of Series:** Tactical Dividend & Momentum Fund

- **b. EDGAR series identifier (if any):** S000050364

- **c. LEI of Series:** 549300BQZXVZE5S3BJ70

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $86059736.14

**Total Liabilities:** $311912.64

**Net Assets:** $85747823.50

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159026 | -1.02%               | -5.24%               | -1.09%               |
| Class ID C000159027 | -1.10%               | -5.31%               | -1.09%               |
| Class ID C000159028 | -1.03%               | -5.19%               | -1.10%               |
| Class ID C000159029 | -1.05%               | -5.22%               | -1.12%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $273217.75               | $-1078497.17                               |
| Month 2  | $352570.70               | $-5243704.40                               |
| Month 3  | $0.00                    | $-820673.91                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Morgan Stanley Institutional Liquidity Funds | MSILF-TR SEC-INS            | CUSIP: 61747C525<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   3707739 | PA      | $3707738.89   | 4.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-MATERIALS              | CUSIP: 81369Y100<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     19752 | NS      | $1656995.28   | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-HEALTH CARE            | CUSIP: 81369Y209<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     63886 | NS      | $8974066.42   | 10.47%            |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-CONS STAPLE            | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     62447 | NS      | $5110038.01   | 5.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-CONS DISCRE            | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     43139 | NS      | $8509599.14   | 9.92%             |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-ENERGY SEL             | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     32050 | NS      | $2580025.00   | 3.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-FINL SELECT            | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    247533 | NS      | $12069709.08  | 14.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-INDU SELECT            | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     54057 | NS      | $7093359.54   | 8.27%             |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-TECH SEL S             | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     40410 | NS      | $8484887.70   | 9.90%             |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-COMM SERV              | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     81828 | NS      | $7809664.32   | 9.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | REAL EST SEL SEC            | CUSIP: 81369Y860<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     45322 | NS      | $1871798.60   | 2.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-UTIL SELECT            | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     26995 | NS      | $2129905.50   | 2.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard World Fund                          | VANGUARD INF T E            | CUSIP: 92204A702<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |     29026 | NS      | $15948335.70  | 18.60%            |  |  |  | No            | 1                  | On Loan: No      |
| DREYFUS GOVERNMENT CASH MANAGE               | DREYFUS GOVT CASH MGMT FUND | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Two Roads Shared Trust

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer