# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0002000324-26-000185
**Filing Date:** 2026-1
**Character Count:** 46472
**Document Hash:** 9f8674f80edfc01fdb1390d8b3c06129
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000185.hdr.sgml**: 20260126

**ACCESSION NUMBER**: 0002000324-26-000185

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260126

**DATE AS OF CHANGE**: 20260126

**PERIOD START**: 20260531

**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:** 26560223

**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            |

## 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:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $422312138.47

**Total Liabilities:** $51023419.51

**Net Assets:** $371288718.96

**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 | 4.00%                | 1.51%                | -2.57%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $16127457.90             | $7785627.78                                |
| Month 2  | $9839920.26              | $751919.71                                 |
| Month 3  | $26012904.78             | $-17472209.89                              |

**Designated Index Information**

- **Index Name:** n/a

- **Index Identifier:** n/a

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Apple Inc            | COMMSTCK | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3387 | NS      | $944464.95    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro       | COMMSTCK | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       215 | NS      | $46768.95     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc       | COMMSTCK | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      3780 | NS      | $881571.60    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc  | COMMSTCK | CUSIP: 040413205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1022 | NS      | $133554.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc         | COMMSTCK | CUSIP: 03957W106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34592 | NS      | $848887.68    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc         | COMMSTCK | CUSIP: 11135F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       369 | NS      | $148692.24    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holdin | COMMSTCK | CUSIP: 01609W102<br>LEI: N/A                  | Short            | EC               | CORP              | CN        |    -16200 | NS      | $-2548260.00  | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc | COMMSTCK | CUSIP: 09857L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       296 | NS      | $1454748.24   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc     | COMMSTCK | CUSIP: 056525108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14158 | NS      | $2527769.32   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Co | COMMSTCK | CUSIP: 101137107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50388 | NS      | $5118413.04   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets  | COMMSTCK | CUSIP: 12503M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10204 | NS      | $2634366.68   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION        | COMMSTCK | CUSIP: 21037T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2011 | NS      | $732727.96    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communicatio | COMMSTCK | CUSIP: 16119P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50984 | NS      | $10202918.08  | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc  | COMMSTCK | CUSIP: 19260Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30576 | NS      | $8341744.32   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope Holding Co | COMMSTCK | CUSIP: 20337X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1332 | NS      | $26293.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| salesforce.com Inc   | COMMSTCK | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       641 | NS      | $147776.14    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology | COMMSTCK | CUSIP: 144285103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       408 | NS      | $129964.32    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co           | COMMSTCK | CUSIP: 146869102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -30000 | NS      | $-11235000.00 | -3.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp  | COMMSTCK | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      1111 | NS      | $121643.39    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc           | COMMSTCK | CUSIP: 278865100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3931 | NS      | $1081653.96   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| frontdoor Inc        | COMMSTCK | CUSIP: 35905A109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32538 | NS      | $1754774.34   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co  | COMMSTCK | CUSIP: 369604301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30380 | NS      | $9066911.00   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners | COMMSTCK | CUSIP: 392709101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1072 | NS      | $72767.36     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWMET AEROSPACE INC | COMMSTCK | CUSIP: 443201108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27709 | NS      | $5668984.31   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc     | COMMSTCK | CUSIP: 44951W106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5940 | NS      | $2486305.80   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc             | COMMSTCK | CUSIP: 46222L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18336 | NS      | $903964.80    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co  | COMMSTCK | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     36474 | NS      | $11419279.92  | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co       | COMMSTCK | CUSIP: 532457108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       966 | NS      | $1038904.02   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp    | COMMSTCK | CUSIP: 512807306<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45243 | NS      | $7057908.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC.  | COMMSTCK | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1427 | NS      | $924624.65    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp       | COMMSTCK | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     19160 | NS      | $9426911.60   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc    | COMMSTCK | CUSIP: 594972408<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40792 | NS      | $7227526.56   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp.        | COMMSTCK | CUSIP: 651639106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64387 | NS      | $5841832.51   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUDFLARE INC       | COMMSTCK | CUSIP: 18915M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50984 | NS      | $10207506.64  | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc       | COMMSTCK | CUSIP: 629377508<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1761 | NS      | $298471.89    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp          | COMMSTCK | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Short            | EC               | CORP              | US        |    -16021 | NS      | $-2835717.00  | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S     | COMMSTCK | CUSIP: 670100205<br>LEI: N/A                  | Long             | EC               | CORP              | DK        |     10001 | NS      | $493549.35    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The | COMMSTCK | CUSIP: 743315103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         4 | NS      | $915.16       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologie | COMMSTCK | CUSIP: 69608A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10010 | NS      | $1686184.50   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc           | COMMSTCK | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50984 | NS      | $11036506.48  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigetti Computing In | COMMSTCK | CUSIP: 76655K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26661 | NS      | $681721.77    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab USA Inc   | COMMSTCK | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51045 | NS      | $2151036.30   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc             | COMMSTCK | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    131635 | NS      | $3425142.70   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc  | COMMSTCK | CUSIP: 893641100<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | EC               | CORP              | US        |      2021 | NS      | $2748903.57   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp | COMMSTCK | CUSIP: 87612G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        69 | NS      | $12096.39     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc            | COMMSTCK | CUSIP: 88160R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       482 | NS      | $207341.94    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies I | COMMSTCK | CUSIP: 902252105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1649 | NS      | $774403.38    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HOLDINGS      | COMMSTCK | CUSIP: 92537N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2560 | NS      | $460108.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceutica | COMMSTCK | CUSIP: 92532F100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        24 | NS      | $10406.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Energy Corp   | COMMSTCK | CUSIP: 92840M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30664 | NS      | $5484563.04   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp | COMMSTCK | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     81584 | NS      | $13325114.72  | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings | COMMSTCK | CUSIP: 98956A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       552 | NS      | $10074.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X MSCI Argent | ETF      | CUSIP: 37950E259<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24661 | NS      | $2297911.98   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X MSCI Colomb | ETF      | CUSIP: 37954Y327<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17292 | NS      | $644299.92    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Poland  | ETF      | CUSIP: 46429B606<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54224 | NS      | $1847411.68   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI AUSTRIA | ETF      | CUSIP: 464286202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50000 | NS      | $1650000.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Gold Shares     | ETF      | CUSIP: 78463V107<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     20128 | NS      | $7807248.64   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 | ETF      | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Long             | EC               | CORP              | US        |    171037 | NS      | $42545453.75  | 11.46%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR    | ETF      | CUSIP: 78464A771<br>LEI: 549300BBJPWNKDPREW36 | Long             | EC               | CORP              | US        |     26328 | NS      | $3838622.40   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Se | ETF      | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | CORP              | US        |    121386 | NS      | $75168280.50  | 20.25%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Vectors Semic | ETF      | CUSIP: 92189F676<br>LEI: 549300MJTG2N9QRH7I02 | Long             | EC               | CORP              | US        |      6655 | NS      | $2344423.40   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Tru | ETF      | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | CORP              | US        |     62434 | NS      | $42666771.26  | 11.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Financials  | ETF      | CUSIP: 92204A405<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | CORP              | US        |     72800 | NS      | $9464000.00   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE Europe | ETF      | CUSIP: 922042874<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70472 | NS      | $5745582.16   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR    | ETF      | CUSIP: 78464A631<br>LEI: 5493006TZ0473G1GOE68 | Long             | EC               | CORP              | US        |     13804 | NS      | $3178923.16   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Communication Servic | ETF      | CUSIP: 81369Y852<br>LEI: 549300RPODKQJE2HDW24 | Long             | EC               | CORP              | US        |      2698 | NS      | $311322.22    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Select Sec | ETF      | CUSIP: 81369Y605<br>LEI: 549300Y12KQ6ZG08NY28 | Long             | EC               | CORP              | US        |    150327 | NS      | $8016938.91   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Technology Select Se | ETF      | CUSIP: 81369Y803<br>LEI: 549300BR5T0JNM2MW070 | Long             | EC               | CORP              | US        |     10198 | NS      | $2918871.56   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Utilities Select Sec | ETF      | CUSIP: 81369Y886<br>LEI: 549300ERQDM80PRYUH21 | Long             | EC               | CORP              | US        |      1000 | NS      | $90630.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR NYSE Technology | ETF      | CUSIP: 78464A102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20448 | NS      | $5643648.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc            | OPTION   | CUSIP: 88160R101<br>LEI: N/A                  | Long             | DE               |  | US        |       200 | NC      | $255500.00    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Reddit Inc           | OPTION   | CUSIP: 75734B100<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-2877500.00  | -0.78%            |  |  |  | No            |                  2 | On Loan: No      |
| Reddit Inc           | OPTION   | CUSIP: 75734B100<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $38750.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp       | OPTION   | CUSIP: 594918104<br>LEI: N/A                  | Long             | DE               |  | US        |       250 | NC      | $163125.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $1201750.00   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Short            | DE               |  | US        |       -88 | NC      | $-198396.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Short            | DE               |  | US        |      -588 | NC      | $-243432.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $1225000.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologie | OPTION   | CUSIP: 69608A108<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $650000.00    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Western Digital Corp | OPTION   | CUSIP: 958102105<br>LEI: N/A                  | Short            | DE               |  | US        |      -800 | NC      | $-3412000.00  | -0.92%            |  |  |  | No            |                  2 | On Loan: No      |
| Western Digital Corp | OPTION   | CUSIP: 958102105<br>LEI: N/A                  | Long             | DE               |  | US        |       800 | NC      | $48800.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla Inc            | OPTION   | CUSIP: 88160R101<br>LEI: N/A                  | Long             | DE               |  | US        |       156 | NC      | $542490.00    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |      1900 | NC      | $2623900.00   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       200 | NC      | $294700.00    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| General Electric Co  | OPTION   | CUSIP: 369604301<br>LEI: N/A                  | Short            | DE               |  | US        |      -250 | NC      | $-66750.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $256500.00    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| VanEck Vectors Semic | OPTION   | CUSIP: 92189F676<br>LEI: N/A                  | Short            | DE               |  | US        |     -2000 | NC      | $-1470000.00  | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| VanEck Vectors Semic | OPTION   | CUSIP: 92189F676<br>LEI: N/A                  | Short            | DE               |  | US        |     -1000 | NC      | $-283000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| General Electric Co  | OPTION   | CUSIP: 369604301<br>LEI: N/A                  | Short            | DE               |  | US        |     -1000 | NC      | $-355000.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $315000.00    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Rocket Lab USA Inc   | OPTION   | CUSIP: 773121108<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $103500.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologie | OPTION   | CUSIP: 69608A108<br>LEI: N/A                  | Long             | DE               |  | US        |       800 | NC      | $500000.00    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holdin | OPTION   | CUSIP: 01609W102<br>LEI: N/A                  | Long             | DE               |  | US        |       250 | NC      | $183125.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $155000.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Short            | DE               |  | US        |     -2000 | NC      | $-1000.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $500.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| General Electric Co  | OPTION   | CUSIP: 369604301<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $760000.00    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $602500.00    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| VanEck Vectors Semic | OPTION   | CUSIP: 92189F676<br>LEI: N/A                  | Long             | DE               |  | US        |      2000 | NC      | $3590000.00   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Rocket Lab USA Inc   | OPTION   | CUSIP: 773121108<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-47250.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $2827500.00   | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| VanEck Vectors Semic | OPTION   | CUSIP: 92189F676<br>LEI: N/A                  | Long             | DE               |  | US        |      1200 | NC      | $1164000.00   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |       184 | NC      | $384836.00    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holdin | OPTION   | CUSIP: 01609W102<br>LEI: N/A                  | Short            | DE               |  | US        |      -250 | NC      | $-18750.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-858500.00   | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |       816 | NC      | $2111400.00   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| VanEck Vectors Semic | OPTION   | CUSIP: 92189F676<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $232500.00    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |      2000 | NC      | $2982000.00   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $936500.00    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $717250.00    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologie | OPTION   | CUSIP: 69608A108<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-15000.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc       | OPTION   | CUSIP: 023135106<br>LEI: N/A                  | Short            | DE               |  | US        |      -150 | NC      | $-6000.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $484750.00    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Carvana Co           | OPTION   | CUSIP: 146869102<br>LEI: N/A                  | Short            | DE               |  | US        |      -300 | NC      | $-1093500.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Carvana Co           | OPTION   | CUSIP: 146869102<br>LEI: N/A                  | Long             | DE               |  | US        |       300 | NC      | $320250.00    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $510750.00    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |      2000 | NC      | $2546000.00   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologie | OPTION   | CUSIP: 69608A108<br>LEI: N/A                  | Short            | DE               |  | US        |     -1500 | NC      | $-111000.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| General Electric Co  | OPTION   | CUSIP: 369604301<br>LEI: N/A                  | Short            | DE               |  | US        |      -250 | NC      | $-36500.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-86750.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Coinbase Global Inc  | OPTION   | CUSIP: 19260Q107<br>LEI: N/A                  | Short            | DE               |  | US        |      -300 | NC      | $-211500.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Coinbase Global Inc  | OPTION   | CUSIP: 19260Q107<br>LEI: N/A                  | Long             | DE               |  | US        |       300 | NC      | $1008750.00   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc       | OPTION   | CUSIP: 023135106<br>LEI: N/A                  | Long             | DE               |  | US        |       150 | NC      | $30375.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communicatio | OPTION   | CUSIP: 16119P108<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-457500.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communicatio | OPTION   | CUSIP: 16119P108<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $410000.00    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla Inc            | OPTION   | CUSIP: 88160R101<br>LEI: N/A                  | Long             | DE               |  | US        |       300 | NC      | $1269000.00   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Short            | DE               |  | US        |      -300 | NC      | $-3450.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MicroStrategy Inc    | OPTION   | CUSIP: 594972408<br>LEI: N/A                  | Short            | DE               |  | US        |      -400 | NC      | $-210000.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| MicroStrategy Inc    | OPTION   | CUSIP: 594972408<br>LEI: N/A                  | Long             | DE               |  | US        |       400 | NC      | $1102000.00   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla Inc            | OPTION   | CUSIP: 88160R101<br>LEI: N/A                  | Long             | DE               |  | US        |       156 | NC      | $67860.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-52000.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| General Electric Co  | OPTION   | CUSIP: 369604301<br>LEI: N/A                  | Long             | DE               |  | US        |       250 | NC      | $185000.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| General Electric Co  | OPTION   | CUSIP: 369604301<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $447500.00    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CLOUDFLARE INC       | OPTION   | CUSIP: 18915M107<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-476250.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CLOUDFLARE INC       | OPTION   | CUSIP: 18915M107<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $446250.00    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp       | OPTION   | CUSIP: 594918104<br>LEI: N/A                  | Long             | DE               |  | US        |       400 | NC      | $52800.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Short            | DE               |  | US        |     -1000 | NC      | $-61000.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Communication Servic | OPTION   | CUSIP: 81369Y852<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $675000.00    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| META PLATFORMS INC.  | OPTION   | CUSIP: 30303M102<br>LEI: N/A                  | Long             | DE               |  | US        |       100 | NC      | $9200.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $500.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $500.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S     | OPTION   | CUSIP: 670100205<br>LEI: N/A                  | Short            | DE               |  | US        |     -1000 | NC      | $-4000.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Short            | DE               |  | US        |      -300 | NC      | $-175500.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Lam Research Corp    | OPTION   | CUSIP: 512807306<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $1117500.00   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco QQQ Trust Se | OPTION   | CUSIP: 46090E103<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-172250.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Lam Research Corp    | OPTION   | CUSIP: 512807306<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $12500.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holdin | OPTION   | CUSIP: 01609W102<br>LEI: N/A                  | Short            | DE               |  | US        |      -250 | NC      | $-65375.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $847750.00    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp          | OPTION   | CUSIP: 67066G104<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-108750.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       100 | NC      | $109750.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $583000.00    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |      1500 | NC      | $1194000.00   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S     | OPTION   | CUSIP: 670100205<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $39500.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Short            | DE               |  | US        |     -1000 | NC      | $-305000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Short            | DE               |  | US        |      -500 | NC      | $-574000.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |       500 | NC      | $435500.00    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |      1000 | NC      | $500.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR    | OPTION   | CUSIP: 78462F103<br>LEI: N/A                  | Long             | DE               |  | US        |      1500 | NC      | $307500.00    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-22

**Name of Applicant:** Starboard Investment Trust

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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