# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0001387131-23-000817
**Filing Date:** 2023-1
**Character Count:** 18675
**Document Hash:** 05146856e16b93daa101169024fed982
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-000817.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001387131-23-000817

**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:** 23561931

**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

### RH Hedged Multi-Asset Income ETF (Series ID: S000072156)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000227946 | RH Hedged Multi-Asset Income ETF | AMAX            |

## Nport-Ex

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 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 |
| 801 | RH Hedged Multi-Asset Income ETF | 02660TAS | AHM 2004-1 4M1 | 04/25/2044 VAR |  | 02660TAS2 | UNGROUPED SECURITIES |  | CMO | COLL MORT OBLIGATION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/25/2044 |  |  | 97.20 |  |  |  |  |  | AHM 2004-1 4M1 | 04/25/2044 VAR |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11378.01 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 164164.42 | 157597.84 | 157954.69 | 159570.41 | 159570.41 | 1615.72 | 1615.72 | 7.42 | False | 7.47 |  | 0.37 | 0.37 | 0.38 | 4616000.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | 12668AJS | CWALT 2005-J11 | 03/25/2022 5% |  | 12668AJS5 | UNGROUPED SECURITIES |  | CMO | COLL MORT OBLIGATION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/25/2023 |  |  | 61.33 |  |  |  |  |  | CWALT 2005-J11 | 04/25/2021 5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5030.88 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 100617.56 | 89549.80 | 100617.56 | 61705.62 | 61705.62 | -38911.94 | -38911.94 | 8.15 | False | 233.01 |  | 0.14 | 0.14 | 0.15 | 3000000.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | 02147TAQ | CWALT 2006-28CB A15 | 10/25/2036 6.5% |  | 02147TAQ9 | UNGROUPED SECURITIES |  | CMO | COLL MORT OBLIGATION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/25/2036 |  |  | 32.31 |  |  |  |  |  | CWALT 2006-28CB A15 | 10/25/2036 6.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 36095.68 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 555318.15 | 202249.19 | 209380.74 | 179411.91 | 179411.91 | -29968.83 | -29968.83 | 20.12 | False | 22.37 |  | 0.42 | 0.42 | 0.42 | 2819808.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | DMLP | Dorchester Minerals | LP |  | 25820R105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 30.25 |  |  |  |  |  | Dorchester Minerals | LP |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 54179.30 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 15492.00 | 428315.07 | 428315.07 | 468633.00 | 468633.00 | 40317.93 | 40317.93 | 11.56 | False | 0.00 | N/A | 1.10 | 1.09 | 1.10 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | NS | NuStar Energy LP |  |  | 67058H102 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 16.33 |  |  |  |  |  | NuStar Energy LP |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 46798.40 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 29249.00 | 422703.62 | 422703.62 | 477636.17 | 477636.17 | 54932.55 | 54932.55 | 9.80 | False | 0.00 | N/A | 1.12 | 1.12 | 1.13 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | MLPA | GLOBAL X MLP ETF |  |  | 37954Y343 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 43.00 |  |  |  |  |  | GLOBAL X MLP ETF |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 92408.58 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 31114.00 | 1277195.47 | 1277195.47 | 1337902.00 | 1337902.00 | 60706.53 | 60706.53 | 6.91 | False | 0.00 | N/A | 3.14 | 3.12 | 3.15 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | QYLD | GLOBAL X NASD 100 |  |  | 37954Y483 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 16.58 |  |  |  |  |  | GLOBAL X NASD 100 |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1629690.48 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 585695.00 | 11889156.53 | 11889156.53 | 9710823.10 | 9710823.10 | -2178333.43 | -2178333.43 | 16.78 | False | 0.00 | N/A | 22.79 | 22.67 | 22.89 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | RYLD | Global X Russell 200 | 0 Covered Call ETF |  | 37954Y459 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 19.56 |  |  |  |  |  | Global X Russell 200 | 0 Covered Call ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 295405.98 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 99789.00 | 2481833.39 | 2481833.39 | 1951872.84 | 1951872.84 | -529960.55 | -529960.55 | 15.13 | False | 0.00 | N/A | 4.58 | 4.56 | 4.60 | 0.00 |  | 98840072S6T63E2V1291 |
| 801 | RH Hedged Multi-Asset Income ETF | XYLD | Global X S&P 500 Cov | ered Call ETF |  | 37954Y475 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 40.39 |  |  |  |  |  | Global X S&P 500 Cov | ered Call ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1372392.34 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 255832.00 | 12188002.36 | 12188002.36 | 10333054.48 | 10333054.48 | -1854947.88 | -1854947.88 | 13.28 | False | 0.00 | N/A | 24.25 | 24.13 | 24.36 | 0.00 |  | 98840072S6T63E2V1291 |
| 801 | RH Hedged Multi-Asset Income ETF | TLT | iShares 20+ Year Tre | asury Bond ETF |  | 464287432 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 102.73 |  |  |  |  |  | iShares 20+ Year Tre | asury Bond ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 35149.75 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 13715.00 | 1305529.48 | 1305529.48 | 1408941.95 | 1408941.95 | 103412.47 | 103412.47 | 2.49 | False | 0.00 | N/A | 3.31 | 3.29 | 3.32 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | USHY | ISHARES BROAD USD | HIGH YIELD |  | 46435U853 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 35.45 |  |  |  |  |  | ISHARES BROAD USD | HIGH YIELD |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 123719.24 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 58650.00 | 2016416.33 | 2016416.33 | 2079142.50 | 2079142.50 | 62726.17 | 62726.17 | 5.95 | False | 0.00 | N/A | 4.88 | 4.85 | 4.90 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | IEO | iShares U.S. Oil & G | as Exploration & Pro |  | 464288851 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 101.20 |  |  |  |  |  | iShares U.S. Oil & G | as Exploration & Pro |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28468.25 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 9700.00 | 1020825.09 | 1020825.09 | 981640.00 | 981640.00 | -39185.09 | -39185.09 | 2.90 | False | 0.00 | N/A | 2.30 | 2.29 | 2.31 | 0.00 |  | 549300LRIF3NWCU26A80 |
| 801 | RH Hedged Multi-Asset Income ETF | SPIP | SPDR Portfolio TIPS | ETF |  | 78464A656 | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 26.15 |  |  |  |  |  | SPDR Portfolio TIPS | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 648266.19 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 333730.00 | 9760571.11 | 9760571.11 | 8727039.50 | 8727039.50 | -1033531.61 | -1033531.61 | 7.43 | False | 0.00 | N/A | 20.48 | 20.38 | 20.57 | 0.00 |  | 549300ZFEEJ2IP5VME73 |
| 801 | RH Hedged Multi-Asset Income ETF | BSM | BLACK STONE MINERALS |  |  | 09225M101 | UNGROUPED SECURITIES |  | MLP | LIMITED PARTNERSHIP |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 18.75 |  |  |  |  |  | BLACK STONE MINERALS |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 37956.38 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 24647.00 | 427186.73 | 416095.58 | 462131.25 | 462131.25 | 46035.67 | 46035.67 | 8.21 | False | 0.00 | N/A | 1.08 | 1.08 | 1.09 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | USAC | USA Compression Part | ners LP |  | 90290N109 | UNGROUPED SECURITIES |  | MLP | LIMITED PARTNERSHIP |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 18.37 |  |  |  |  |  | USA Compression Part | ners LP |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 49618.80 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 23628.00 | 430041.41 | 417636.71 | 434046.36 | 434046.36 | 16409.65 | 16409.65 | 11.43 | False | 0.00 | N/A | 1.02 | 1.01 | 1.02 | 0.00 |  |  |
| 801 | RH Hedged Multi-Asset Income ETF | FIGXX | Fidelity Investments | Money Market Funds |  | 316175108 | UNGROUPED SECURITIES |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/26/2023 |  |  | 100.00 |  |  |  |  |  | Fidelity Investments | Money Market Funds |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 137393.25 | L<br> N |  |  | 11/30/2022 | T |  | 801;USD | USD | 3840940.61 | 3840940.61 | 3840940.61 | 3840940.61 | 3840940.61 | 0.00 | 0.00 | 4.17 | False | 4.17 |  | 9.01 | 8.97 | 9.06 | 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:** RH Hedged Multi-Asset Income ETF

- **b. EDGAR series identifier (if any):** S000072156

- **c. LEI of Series:** 549300EHSSN4HK394B90

**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:** $42830996.52

**Total Liabilities:** $414851.02

**Net Assets:** $42416145.50

**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 C000227946 | -5.09%               | 3.55%                | 2.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $201648.63               | $-2840455.71                               |
| Month 2  | $-801115.00              | $2056213.34                                |
| Month 3  | $25.58                   | $663343.41                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CWALT 2006-28CB A15  | CMO      | CUSIP: 02147TAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    555318 | NS      | $179411.91    | 0.00%             | 2036-10-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AHM 2004-1 4M1       | CMO      | CUSIP: 02660TAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    164164 | NS      | $159570.41    | 0.00%             | 2044-04-25      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| CWALT 2005-J11       | CMO      | CUSIP: 12668AJS5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100618 | NS      | $100617.56    | 0.00%             | 2022-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dorchester Minerals  | COMMSTCK | CUSIP: 25820R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15492 | NS      | $468633.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NuStar Energy LP     | COMMSTCK | CUSIP: 67058H102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29249 | NS      | $477636.17    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Oil & G | ETF      | CUSIP: 464288851<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9700 | NS      | $981640.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL X MLP ETF     | ETF      | CUSIP: 37954Y343<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31114 | NS      | $1337902.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL X NASD 100    | ETF      | CUSIP: 37954Y483<br>LEI: 54930002VYV0ZD18OT06 | Long             | EC               | CORP              | US        |    585695 | NS      | $9710823.10   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Russell 200 | ETF      | CUSIP: 37954Y459<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99789 | NS      | $1951872.84   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio TIPS  | ETF      | CUSIP: 78464A656<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    333730 | NS      | $8727039.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 20+ Year Tre | ETF      | CUSIP: 464287432<br>LEI: 549300WWURKS1JGBZU59 | Long             | EC               | CORP              | US        |     13715 | NS      | $1408941.95   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES BROAD USD    | ETF      | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | CORP              | US        |     58650 | NS      | $2079142.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X S&P 500 Cov | ETF      | CUSIP: 37954Y475<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    255832 | NS      | $10333054.48  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACK STONE MINERALS | MLP      | CUSIP: 09225M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24647 | NS      | $462131.25    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| USA Compression Part | MLP      | CUSIP: 90290N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23628 | NS      | $434046.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Investments | MONEYMKT | CUSIP: 316175108<br>LEI: 6X064LF7Y6B4DKF2GZ26 | Long             | STIV             |  | US        |   3782963 | NS      | $3782963.17   | 0.09%             |  |  |  | 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