# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001752724-25-148239
**Filing Date:** 2025-6
**Character Count:** 10838
**Document Hash:** bfdc201dde6124f7de0ee93bb3b4db9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-148239.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001752724-25-148239

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**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:** 251056421

**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:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $125609707.56

**Total Liabilities:** $947820.36

**Net Assets:** $124661887.20

**Cash Not Reported:** $60000.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000178523 | 0.16%                | -1.03%               | -4.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-25.54                  | $2215.86                                   |
| Month 2  | $0.00                    | $-1782222.05                               |
| Month 3  | $-7615854.30             | $1772002.62                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aim Tax-Exempt Funds (Invesco Tax-Exempt Funds) | INV-H/Y MUNI-Y           | CUSIP: 001419654<br>LEI: SW0MHD1146AQ1M76HG37 | Long             | EC               | RF                | US        |       123 | NS      | $1017.23      | 0.00%             |  |  |  | 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        |       155 | NS      | $1021.52      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Centy Tr                               | AC-H/Y MUNI-I            | CUSIP: 024934663<br>LEI: N/A                  | Long             | EC               | RF                | US        |       128 | NS      | $1096.91      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                       | BLKR-LI MUNI-INS         | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  34973430 | PA      | $34976927.49  | 28.06%            |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock ETF Trust II                          | ISHR HI YLD MUNI         | CUSIP: 092528843<br>LEI: 549300PLJCTZLQ2LE832 | Long             | EC               | RF                | US        |        23 | NS      | $1120.10      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Delaware Investments fund                       | DEL-NTL HY M-I           | CUSIP: 24610H302<br>LEI: N/A                  | Long             | EC               | RF                | US        |       104 | NS      | $1021.55      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First Eagle Funds                               | FIRST EAGLE HIGH YIELD-I | CUSIP: 32008F713<br>LEI: 549300FE2F4XF7FZN136 | Long             | EC               | RF                | US        |       122 | NS      | $1021.29      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                             | GS-H/Y MUNI-INS          | CUSIP: 38142Y583<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | EC               | RF                | US        |       113 | NS      | $1017.57      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Trust I                               | JPM-T/F MMKT-L           | CUSIP: 4812A2751<br>LEI: 549300DM5WZMCZZ70R78 | Long             | STIV             | RF                | US        |  34974120 | PA      | $34974120.19  | 28.06%            |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Trust Ii                              | JPM-MUNI MM-L            | CUSIP: 4812C0258<br>LEI: 549300IMXLYKELY96B40 | Long             | STIV             | RF                | US        |  34984540 | PA      | $34984539.65  | 28.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Legg Mason Partners Income Trust                | WA-MUNI H/I-I            | CUSIP: 52469F556<br>LEI: 549300Y1U2UCLTK83X35 | Long             | EC               | RF                | US        |        86 | NS      | $1078.08      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lord Abbett Municipal Income Trust              | LA-H/I MUNI-I            | CUSIP: 543912836<br>LEI: N/A                  | Long             | EC               | RF                | US        |        91 | NS      | $965.33       | 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        |       139 | NS      | $1016.02      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Life Investments Funds Trust           | MNSTY-H/Y MU-I           | CUSIP: 56063U521<br>LEI: N/A                  | Long             | EC               | RF                | US        |        89 | NS      | $1023.98      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Municipal                                | NVN-SH DUR HY-I          | CUSIP: 67065Q699<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |       107 | NS      | $1007.31      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Municipal                                | NVN-H/Y MUN-I            | CUSIP: 67065Q772<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |        72 | NS      | $1028.75      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Funds                                     | PIMCO-HY MUNI-I          | CUSIP: 72201F672<br>LEI: N/A                  | Long             | EC               | RF                | US        |       122 | NS      | $1014.31      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Ser Tr V                                | PIONEER-HI MUN-Y         | CUSIP: 72387N820<br>LEI: N/A                  | Long             | EC               | RF                | US        |       170 | NS      | $1014.81      | 0.00%             |  |  |  | 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        |    712425 | NS      | $17860504.08  | 14.33%            |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA                                    | US BANK MMDA - USBGFS 9  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1699886 | PA      | $1699886.34   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                             | INVESCO HI YLD MUNI      | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |     15845 | NS      | $-2376.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                             | NUVEEN HIGH YLD MUNI     | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |     10462 | NS      | $-3452.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer