# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-25-006032
**Filing Date:** 2025-12
**Character Count:** 10516
**Document Hash:** 9d5fd8055f68afa04b9269ba5abbcf6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-006032.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000910472-25-006032

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**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:** 251604909

**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

### Redwood Managed Municipal Income Fund (Series ID: S000056429)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000178523 | Redwood Managed Municipal Income Fund Class I | RWMIX           |

## 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:** Redwood Managed Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000056429

- **c. LEI of Series:** 549300K0OVZT7N21CJ79

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $98153706.71

**Total Liabilities:** $826561.68

**Net Assets:** $97327145.03

**Cash Not Reported:** $60000.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000178523 | 0.17%                | 1.44%                | 0.94%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9069.80                 | $-5043.21                                  |
| Month 2  | $23706.54                | $1084632.65                                |
| Month 3  | $63834.94                | $469034.15                                 |

**Designated Index Information**

- **Index Name:** Bloomberg High Yield Muni Bond

- **Index Identifier:** 939

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lord Abbett Municipal Income Trust              | LA-H/I MUNI-I            | CUSIP: 543912836<br>LEI: N/A                  | Long             | EC               | RF                | US        |    900642 | NS      | $9609852.71   | 9.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Aim Tax-Exempt Funds (Invesco Tax-Exempt Funds) | INV-RC MUN OP-Y          | CUSIP: 00141W703<br>LEI: SW0MHD1146AQ1M76HG37 | Long             | EC               | RF                | US        |   1567260 | NS      | $10375261.52  | 10.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Delaware Investments fund                       | DEL-NTL HY M-I           | CUSIP: 24610H302<br>LEI: N/A                  | Long             | EC               | RF                | US        |    403432 | NS      | $4006083.42   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Legg Mason Partners Income Trust                | WA-MUNI H/I-I            | CUSIP: 52469F556<br>LEI: 549300Y1U2UCLTK83X35 | Long             | EC               | RF                | US        |        88 | NS      | $1128.15      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA                                    | US BANK MMDA - USBGFS 9  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1091410 | PA      | $1091409.74   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                       | BLKR-LI MUNI-INS         | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |    115651 | PA      | $115662.90    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Private Real Estate Debt Fund           | RDWD-R/E INC-I           | CUSIP: 758067102<br>LEI: 549300XIZ6J0ZXQMTV96 | Long             | EC               | RF                | US        |    515866 | NS      | $12937923.59  | 13.29%            |  |  |  | No            |                  1 | On Loan: No      |
| American Centy Tr                               | AC-H/Y MUNI-I            | CUSIP: 024934663<br>LEI: N/A                  | Long             | EC               | RF                | US        |       131 | NS      | $1145.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Portfolios IV                           | V/P-HI INC MUN-Y         | CUSIP: 92648C264<br>LEI: 25490054DPU07WNNLY79 | Long             | EC               | RF                | US        |       178 | NS      | $1052.68      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Funds                                     | PIMCO-HY MUNI-I          | CUSIP: 72201F672<br>LEI: 5493003B5Y5GR0Y25Y76 | Long             | EC               | RF                | US        |    772061 | NS      | $6516195.46   | 6.70%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                             | INVESCO HI YLD MUNI      | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |     16301 | NS      | $815.08       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                             | NUVEEN HIGH YLD MUNI     | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |     10767 | NS      | $1615.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| First Eagle Funds                               | FIRST EAGLE HIGH YIELD-I | CUSIP: 32008F713<br>LEI: 549300FE2F4XF7FZN136 | Long             | EC               | RF                | US        |   1580712 | NS      | $12930222.89  | 13.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Municipal                                | NVN-SH DUR HY-I          | CUSIP: 67065Q699<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |       113 | NS      | $1068.04      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Aim Tax-Exempt Funds (Invesco Tax-Exempt Funds) | INV-H/Y MUNI-Y           | CUSIP: 001419654<br>LEI: SW0MHD1146AQ1M76HG37 | Long             | EC               | RF                | US        |   1043236 | NS      | $8721450.94   | 8.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock ETF Trust II                          | ISHR HI YLD MUNI         | CUSIP: 092528843<br>LEI: 549300PLJCTZLQ2LE832 | Long             | EC               | RF                | US        |        23 | NS      | $1135.28      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                             | GS-H/Y MUNI-INS          | CUSIP: 38142Y583<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | EC               | RF                | US        |   1161132 | NS      | $10589523.17  | 10.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Municipal                                | NVN-H/Y MUN-I            | CUSIP: 67065Q772<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |   1012856 | NS      | $14645892.53  | 15.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Tax Free Trust                         | FRNK-H/Y T/F-ADV         | CUSIP: 354723272<br>LEI: 549300C12HCE48FV1C70 | Long             | EC               | RF                | US        |    620170 | NS      | $5544321.07   | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Life Investments Funds Trust           | MNSTY-H/Y MU-I           | CUSIP: 56063U521<br>LEI: 549300SQRLBSUG7RD002 | Long             | EC               | RF                | US        |        92 | NS      | $1083.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Series Trust III                            | MFS-MUNI H/I-I           | CUSIP: 552984692<br>LEI: 549300V6TTODTL97GD50 | Long             | EC               | RF                | US        |       142 | NS      | $1060.54      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

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

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer