# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0001387131-23-002207
**Filing Date:** 2023-2
**Character Count:** 15747
**Document Hash:** f6aaf2ca6c276d40b9ddfac50c71573c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-002207.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001387131-23-002207

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**PERIOD START**: 20230930

**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:** 23641722

**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

### Sector Rotation Fund (Series ID: S000032518)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000100305 | No Load Shares | NAVFX           |

## Nport-Ex

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | 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 | 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 |
| 245 | Sector Rotation Fund | EDV | Vanguard Extended Du | ration Treasury ETF |  | 921910709 | 1031 | Debt Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 82.83 |  |  |  |  |  | Vanguard Extended Du | ration Treasury ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 5000.00 | 419354.50 | 419354.50 | 414150.00 | 414150.00 | -5204.50 | -5204.50 | 0.00 | False | 0.00 | N/A | 1.57 | 1.57 | 1.58 | 0.00 |  | 5493002789CX3L0CJP65 |
| 245 | Sector Rotation Fund | TBT | ProShares UltraShort | 20+Year Treasury |  | 74347B201 | 1040 | Exchange Traded Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 32.50 |  |  |  |  |  | ProShares UltraShort | 20+Year Treasury |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 32000.00 | 1006311.10 | 1006311.10 | 1040000.00 | 1040000.00 | 33688.90 | 33688.90 | 0.00 | False | 0.00 | N/A | 3.95 | 3.95 | 3.96 | 0.00 |  |  |
| 245 | Sector Rotation Fund | UPRO | ProShares UltraPro S | &P 500 |  | 74347X864 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | MD | MARYLAND | USD | US DOLLAR | 1/0/1900 |  |  | 32.77 |  |  |  |  |  | ProShares UltraPro S | &P 500 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 656.74 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 10000.00 | 346400.00 | 346400.00 | 327700.00 | 327700.00 | -18700.00 | -18700.00 | 0.20 | False | 0.00 | N/A | 1.25 | 1.24 | 1.25 | 0.00 |  |  |
| 245 | Sector Rotation Fund | SPY | SPDR S&P 500 ETF Tru | st |  | 78462F103 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 382.43 |  |  |  |  |  | SPDR S&P 500 ETF Tru | st |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6175.71 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 1000.00 | 105140.00 | 105140.00 | 382430.00 | 382430.00 | 277290.00 | 277290.00 | 1.61 | False | 0.00 | N/A | 1.45 | 1.45 | 1.45 | 0.00 |  |  |
| 245 | Sector Rotation Fund | XRT | SPDR S&P Retail ETF |  |  | 78464A714 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 60.45 |  |  |  |  |  | SPDR S&P Retail ETF |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 37129.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 22000.00 | 1337150.30 | 1337150.30 | 1329900.00 | 1329900.00 | -7250.30 | -7250.30 | 2.79 | False | 0.00 | N/A | 5.05 | 5.05 | 5.06 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VCR | Vanguard Consumer Di | scretionary ETF |  | 92204A108 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 219.02 |  |  |  |  |  | Vanguard Consumer Di | scretionary ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 32002.50 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 15000.00 | 2703882.80 | 2703882.80 | 3285300.00 | 3285300.00 | 581417.20 | 581417.20 | 0.97 | False | 0.00 | N/A | 12.48 | 12.48 | 12.50 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VDC | Vanguard Consumer St | aples ETF |  | 92204A207 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 191.57 |  |  |  |  |  | Vanguard Consumer St | aples ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 21217.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 5000.00 | 982260.00 | 982260.00 | 957850.00 | 957850.00 | -24410.00 | -24410.00 | 2.22 | False | 0.00 | N/A | 3.64 | 3.64 | 3.64 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VFH | Vanguard Financials | ETF |  | 92204A405 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 82.73 |  |  |  |  |  | Vanguard Financials | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 36028.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 20000.00 | 1412005.00 | 1412005.00 | 1654600.00 | 1654600.00 | 242595.00 | 242595.00 | 2.18 | False | 0.00 | N/A | 6.29 | 6.28 | 6.29 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VHT | Vanguard Health Care | ETF |  | 92204A504 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 248.05 |  |  |  |  |  | Vanguard Health Care | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 62690.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 20000.00 | 3967909.60 | 3967909.60 | 4961000.00 | 4961000.00 | 993090.40 | 993090.40 | 1.26 | False | 0.00 | N/A | 18.85 | 18.84 | 18.87 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VIS | Vanguard Industrials | ETF |  | 92204A603 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 182.64 |  |  |  |  |  | Vanguard Industrials | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 63805.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 25000.00 | 4126262.20 | 4126262.20 | 4566000.00 | 4566000.00 | 439737.80 | 439737.80 | 1.40 | False | 0.00 | N/A | 17.35 | 17.34 | 17.37 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VGT | Vanguard Information | Technology ETF |  | 92204A702 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 319.41 |  |  |  |  |  | Vanguard Information | Technology ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 42870.00 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 15000.00 | 4093328.40 | 4093328.40 | 4791150.00 | 4791150.00 | 697821.60 | 697821.60 | 0.89 | False | 0.00 | N/A | 18.20 | 18.20 | 18.22 | 0.00 |  |  |
| 245 | Sector Rotation Fund | VPU | Vanguard Utilities E | TF |  | 92204A876 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 153.36 |  |  |  |  |  | Vanguard Utilities E | TF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 21386.50 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 5000.00 | 782123.00 | 782123.00 | 766800.00 | 766800.00 | -15323.00 | -15323.00 | 2.79 | False | 0.00 | N/A | 2.91 | 2.91 | 2.92 | 0.00 |  |  |
| 245 | Sector Rotation Fund | FISXX | Fidelity Investments | Money Market Funds |  | 316175504 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/4/2023 |  |  | 100.00 |  |  |  |  |  | Fidelity Investments | Money Market Funds |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 76160.44 | L<br> N |  |  | 1/3/2023<br> C |  | 245;USD | USD | 1844078.52 | 1844078.52 | 1844078.52 | 1844078.52 | 1844078.52 | 0.00 | 0.00 | 4.13 | False | 4.12 |  | 7.01 | 7.00 | 7.01 | 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:** Sector Rotation Fund

- **b. EDGAR series identifier (if any):** S000032518

- **c. LEI of Series:** 549300XRKBZDKSVL4Q93

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $26328273.98

**Total Liabilities:** $36852.79

**Net Assets:** $26291421.19

**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 C000100305 | 6.91%                | 5.20%                | -5.94%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7301.73                 | $1822793.50                                |
| Month 2  | $280699.88               | $1179462.80                                |
| Month 3  | $-178154.44              | $-1576505.60                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Vanguard Extended Du | ETF      | CUSIP: 921910709<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $414150.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Tru | ETF      | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | CORP              | US        |      1000 | NS      | $382430.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares UltraShort | ETF      | CUSIP: 74347B201<br>LEI: PQTQB8I6TMT6W5YFAJ57 | Long             | EC               | CORP              | US        |     32000 | NS      | $1040000.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares UltraPro S | ETF      | CUSIP: 74347X864<br>LEI: GFX121535M001RJL0037 | Long             | EC               | CORP              | US        |     10000 | NS      | $327700.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Consumer Di | ETF      | CUSIP: 92204A108<br>LEI: NH4EW5X2H2SQ04NCCD83 | Long             | EC               | CORP              | US        |     15000 | NS      | $3285300.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Consumer St | ETF      | CUSIP: 92204A207<br>LEI: X4K6IMOFMLB9TX4WXG57 | Long             | EC               | CORP              | US        |      5000 | NS      | $957850.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Financials  | ETF      | CUSIP: 92204A405<br>LEI: G1LHPY5HPCPGWBXV0P88 | Long             | EC               | CORP              | US        |     20000 | NS      | $1654600.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Information | ETF      | CUSIP: 92204A702<br>LEI: J2NTZGJBERBYMUMBIE74 | Long             | EC               | CORP              | US        |     15000 | NS      | $4791150.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Health Care | ETF      | CUSIP: 92204A504<br>LEI: 4G9X037GNB6OUK17TK21 | Long             | EC               | CORP              | US        |     20000 | NS      | $4961000.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Industrials | ETF      | CUSIP: 92204A603<br>LEI: 5493002789CX3L0CJP65 | Long             | EC               | CORP              | US        |     25000 | NS      | $4566000.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Utilities E | ETF      | CUSIP: 92204A876<br>LEI: 5493002789CX3L0CJP65 | Long             | EC               | CORP              | US        |      5000 | NS      | $766800.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Retail ETF  | ETF      | CUSIP: 78464A714<br>LEI: 549300HHG63HQV071458 | Long             | EC               | CORP              | US        |     22000 | NS      | $1329900.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Investments | MONEYMKT | CUSIP: 316175504<br>LEI: 6X064LF7Y6B4DKF2GZ26 | Long             | STIV             |  | US        |   1837010 | NS      | $1837010.02   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-01

**Name of Applicant:** Starboard Investment Trust

**Signature:** Ashley Lanham

**Name of Signer:** Ashley Lanham

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