# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0001387131-23-000505
**Filing Date:** 2023-1
**Character Count:** 29281
**Document Hash:** 381a3164817a58f2d3487b4a576cc16c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-000505.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001387131-23-000505

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**PERIOD START**: 20230831

**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:** 23544017

**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

### Roumell Opportunistic Value Fund (Series ID: S000030088)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000092405 | Institutional Class | RAMSX           |

## Nport-Ex

---

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| 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 | MULTICURR | 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 |
| 812 | Roumell Opportunistic Value Fund | ALLT | ALLOT LTD |  |  | M0854Q105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 3.71 |  |  |  |  |  | ALLOT LTD |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 652395.00 | 6989991.13 | 6989991.13 | 2420385.45 | 2420385.45 | -4569605.68 | -4569605.68 | 0.00 | False | 0.00 | N/A | 3.20 | 3.15 | 3.17 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | ARDS | Aridis | Pharmaceauticals Inc |  | 040334104 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 0.91 |  |  |  |  |  | Aridis | Pharmaceauticals Inc |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 446588.00 | 2132338.87 | 2132338.87 | 406395.08 | 406395.08 | -1725943.79 | -1725943.79 | 0.00 | False | 0.00 | N/A | 0.54 | 0.53 | 0.53 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | BNED | BARNES & NOBLE | EDUCATION INC |  | 06777U101 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 2.54 |  |  |  |  |  | BARNES & NOBLE | EDUCATION INC |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 606658.00 | 1460622.74 | 1460622.74 | 1540911.32 | 1540911.32 | 80288.58 | 80288.58 | 0.00 | False | 0.00 | N/A | 2.04 | 2.01 | 2.02 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | CVCO | Cavco Industries Inc |  |  | 149568107 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | AZ | ARIZONA | USD | US DOLLAR | 1/0/1900 |  |  | 229.63 |  |  |  |  |  | Cavco Industries Inc |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 5450.00 | 1100425.47 | 1100425.47 | 1251483.50 | 1251483.50 | 151058.03 | 151058.03 | 0.00 | False | 0.00 | N/A | 1.66 | 1.63 | 1.64 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | CLGN | CollPlant | Biotechnologies Ltd |  | M2R51X116 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | ISL | ISRAEL |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 5.09 |  |  |  |  |  | CollPlant | Biotechnologies Ltd |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 605437.00 | 8157020.67 | 8157020.67 | 3081674.33 | 3081674.33 | -5075346.34 | -5075346.34 | 0.00 | False | 0.00 | N/A | 4.08 | 4.02 | 4.03 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | SCOR | COMSCORE, INC |  |  | 20564W105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 1.35 |  |  |  |  |  | COMSCORE, INC |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1839704.00 | 5522141.99 | 5522141.99 | 2483600.40 | 2483600.40 | -3038541.59 | -3038541.59 | 0.00 | False | 0.00 | N/A | 3.28 | 3.24 | 3.25 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | CMTL | Comtech Telecommunic | ations Corp |  | 205826209 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 11.67 |  |  |  |  |  | Comtech Telecommunic | ations Corp |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 13042.40 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 32606.00 | 839912.33 | 839912.33 | 380512.02 | 380512.02 | -459400.31 | -459400.31 | 3.43 | False | 0.00 | N/A | 0.50 | 0.50 | 0.50 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | DPMLF | DUNDEE PRECIOUS | METALS INC |  | 265269209 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 4.77 |  |  |  |  |  | DUNDEE PRECIOUS | METALS INC |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 187005.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1246700.00 | 7432166.56 | 7432166.56 | 5940525.50 | 5940525.50 | -1491641.06 | -1491641.06 | 3.15 | False | 0.00 | N/A | 7.86 | 7.74 | 7.77 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | ENZ | Enzo Biochem Inc |  |  | 294100102 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 1.99 |  |  |  |  |  | Enzo Biochem Inc |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 2228590.00 | 5338630.84 | 5338630.84 | 4434894.10 | 4434894.10 | -903736.74 | -903736.74 | 0.00 | False | 0.00 | N/A | 5.87 | 5.78 | 5.80 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | ETON | Eton Pharmaceuticals | Inc |  | 29772L108 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 3.02 |  |  |  |  |  | Eton Pharmaceuticals | Inc |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 449438.00 | 2148535.20 | 2148535.20 | 1357302.76 | 1357302.76 | -791232.44 | -791232.44 | 0.00 | False | 0.00 | N/A | 1.80 | 1.77 | 1.78 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | GSIT | GSI Technology Inc |  |  | 36241U106 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 2.41 |  |  |  |  |  | GSI Technology Inc |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1819488.00 | 11559889.30 | 11559889.30 | 4384966.08 | 4384966.08 | -7174923.22 | -7174923.22 | 0.00 | False | 0.00 | N/A | 5.80 | 5.71 | 5.74 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | IMBI | IMEDIA BRANDS INC |  |  | 452465206 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | MN | MINNESOTA | USD | US DOLLAR | 1/0/1900 |  |  | 0.59 |  |  |  |  |  | IMEDIA BRANDS INC |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 467052.00 | 930605.89 | 930605.89 | 275093.63 | 275093.63 | -655512.26 | -655512.26 | 0.00 | False | 0.00 | N/A | 0.36 | 0.36 | 0.36 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | KRG | Kite Realty Group Tr | ust |  | 49803T300 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | IN | INDIANA | USD | US DOLLAR | 1/0/1900 |  |  | 22.80 |  |  |  |  |  | Kite Realty Group Tr | ust |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 41000.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 50000.00 | 849805.00 | 849805.00 | 1140000.00 | 1140000.00 | 290195.00 | 290195.00 | 3.60 | False | 0.00 | N/A | 1.51 | 1.49 | 1.49 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | KVHI | KVH INDUSTRIES INC |  |  | 482738101 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 11.39 |  |  |  |  |  | KVH INDUSTRIES INC |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 123122.00 | 1162127.92 | 1162127.92 | 1402359.58 | 1402359.58 | 240231.66 | 240231.66 | 0.00 | False | 0.00 | N/A | 1.85 | 1.83 | 1.83 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | MGNI | MAGNITE INC |  |  | 55955D100 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 11.11 |  |  |  |  |  | MAGNITE INC |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 291555.00 | 2514896.57 | 2514896.57 | 3239176.05 | 3239176.05 | 724279.48 | 724279.48 | 0.00 | False | 0.00 | N/A | 4.28 | 4.22 | 4.24 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | NODK | NI HOLDINGS | INC. |  | 65342T106 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | ND | NORTH DAKOTA | USD | US DOLLAR | 1/0/1900 |  |  | 13.50 |  |  |  |  |  | NI HOLDINGS | INC. |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 39449.00 | 670723.45 | 670723.45 | 532561.50 | 532561.50 | -138161.95 | -138161.95 | 0.00 | False | 0.00 | N/A | 0.70 | 0.69 | 0.70 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | OPRA | OPERA LIMITED |  |  | 68373M107 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | NOK | NORWAY |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 5.28 |  |  |  |  |  | OPERA LIMITED |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 895087.00 | 8429807.22 | 8429807.22 | 4726059.36 | 4726059.36 | -3703747.86 | -3703747.86 | 0.00 | False | 0.00 | N/A | 6.25 | 6.16 | 6.18 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | QMCO | QUANTUM CORP |  |  | 747906501 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USD | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 1.27 |  |  |  |  |  | QUANTUM CORP |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1779469.00 | 11333908.91 | 11333908.91 | 2259925.63 | 2259925.63 | -9073983.28 | -9073983.28 | 0.00 | False | 0.00 | N/A | 2.99 | 2.95 | 2.96 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | QUMU | QUMU CORP |  |  | 749063103 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 0.52 |  |  |  |  |  | QUMU CORP |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1111061.00 | 2938748.73 | 2938748.73 | 577751.72 | 577751.72 | -2360997.01 | -2360997.01 | 0.00 | False | 0.00 | N/A | 0.76 | 0.75 | 0.76 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | SOFO | SONIC FOUNDRY INC |  |  | 83545R207 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | WI | WISCONSIN | USD | US DOLLAR | 1/0/1900 |  |  | 0.96 |  |  |  |  |  | SONIC FOUNDRY INC |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 405405.00 | 1500000.00 | 1500000.00 | 389188.80 | 389188.80 | -1110811.20 | -1110811.20 | 0.00 | False | 0.00 | N/A | 0.51 | 0.51 | 0.51 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | SOFO.W | SONIC FOUNDRY INC | WARRANT |  | SOFO.W | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | WI | WISCONSIN | USD | US DOLLAR | 1/0/1900 |  |  | 0.00 |  |  |  |  |  | SONIC FOUNDRY INC | WARRANT |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | False | 0.00 | N/A | 0.00 | 0.00 | 0.00 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | LOV | Spark Networks SE |  |  | 846517100 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 1.16 |  |  |  |  |  | Spark Networks SE |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 502789.00 | 1546291.53 | 1546291.53 | 583235.24 | 583235.24 | -963056.29 | -963056.29 | 0.00 | False | 0.00 | N/A | 0.77 | 0.76 | 0.76 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | SSYS | Stratasys Ltd |  |  | M85548101 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | MN | MINNESOTA | USD | US DOLLAR | 1/0/1900 |  |  | 14.03 |  |  |  |  |  | Stratasys Ltd |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 80000.00 | 1159464.00 | 1159464.00 | 1122400.00 | 1122400.00 | -37064.00 | -37064.00 | 0.00 | False | 0.00 | N/A | 1.48 | 1.46 | 1.47 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | TTI | TETRA TECHNOLOGIES | INC |  | 88162F105 | UNGROUPED SECURITIES |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 3.81 |  |  |  |  |  | TETRA TECHNOLOGIES | INC |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 988420.00 | 3424977.46 | 3424977.46 | 3765880.20 | 3765880.20 | 340902.74 | 340902.74 | 0.00 | False | 0.00 | N/A | 4.98 | 4.91 | 4.93 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | 11128340 | EROS STX GLOBAL CORP | 04/15/2023 6.50% |  | XS1112834608 | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | GBP | GREAT BRITAIN |  |  | GBP | BRITISH POUND | 4/15/2023 |  |  | 18.78 |  |  |  |  |  | EROS STX GLOBAL CORP | 10/15/2021 6.50% |  |  |  |  | 5 | 2 | 4 | 3 | Y | False | 85532.59 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 835100.00 | 1120847.52 | 1144579.64 | 156846.65 | 156846.65 | -987732.99 | -987732.99 | 54.53 | False | 1415.10 |  | 0.21 | 0.20 | 0.21 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | FLY CN | FLYHT AEROSPACE | SOLUTIONS |  | BD41T80 | UNGROUPED SECURITIES |  | FOREIGN | FOREIGN EQUITIES |  |  |  | CAD | CANADA |  |  | CAD | CANADIAN DOLLAR | 1/0/1900 |  |  | 0.65 |  |  |  |  |  | FLYHT AEROSPACE | SOLUTIONS |  |  |  |  | 5 | 2 | 6 | 3 | Y | False | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 2500000.00 | 1500000.00 | 1500000.00 | 1635322.98 | 1635322.98 | 135322.98 | 135322.98 | 0.00 | False | 0.00 | N/A | 2.16 | 2.13 | 2.14 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | UMBXX | Money Market Fiducia | ry |  | SF8888528 | UNGROUPED SECURITIES |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 12/1/2022 |  |  | 100.00 |  |  |  |  |  | Money Market Fiducia | ry |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 1758.68 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 17586817.35 | 17586817.35 | 17586817.35 | 17586817.35 | 17586817.35 | 0.00 | 0.00 | 0.01 | False | 0.00 |  | 23.26 | 22.92 | 23.00 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | EAS I | EAS INVESTORS LP |  |  |  | UNGROUPED SECURITIES |  | PRIVATE | PRIVATE SECURITY |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 3012399.00 |  |  |  |  |  | QUMU CORP |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 1.00 | 3508800.00 | 3508800.00 | 3012399.00 | 3012399.00 | -496401.00 | -496401.00 | 0.00 | False | 0.00 | N/A | 3.98 | 3.93 | 3.94 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | STREAM | STREAM-IT APP INC |  |  | STREAM | UNGROUPED SECURITIES |  | PRIVATE | PRIVATE SECURITY |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 0.96 |  |  |  |  |  | STREAM-IT APP INC |  |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 0.00 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 3652988.00 | 4175000.00 | 4175000.00 | 3523173.00 | 3523173.00 | -651827.00 | -651827.00 | 0.00 | False | 0.00 | N/A | 4.66 | 4.59 | 4.61 | 0.00 |  |  |
| 812 | Roumell Opportunistic Value Fund | 912796X7 | TREASURY BILL | 12/15/2022 0% |  | 912796X79 | UNGROUPED SECURITIES |  | TBILL | Treasury Bill |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 12/15/2022 |  |  | 99.89 |  |  |  |  |  | TREASURY BILL | 12/15/2022 0% |  |  |  |  | 5 | 2 | 6 | 5 | Y | True | 61179.61 | L<br> N |  |  | 12/1/2022<br> C |  | 812;USD | USD | 2000000.00 | 1984757.50 | 1997822.55 | 1997822.55 | 1997822.55 | 0.00 | 0.00 | 3.06 | False | 2.80 |  | 2.64 | 2.60 | 2.61 | 0.00 |  | 254900HROIFWPRGM1V77 |

---

## 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:** Roumell Opportunistic Value Fund

- **b. EDGAR series identifier (if any):** S000030088

- **c. LEI of Series:** 549300DCQ96S587NHM61

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

- **a. Date of fiscal year-end:** 2023-08-31

- **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:** $76728666.77

**Total Liabilities:** $280127.18

**Net Assets:** $76448539.59

**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 C000092405 | -9.23%               | 1.21%                | 1.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-49757.48               | $-7773764.66                               |
| Month 2  | $-188787.34              | $1116425.12                                |
| Month 3  | $-4710249.76             | $5713873.62                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALLOT LTD            | COMMSTCK | CUSIP: M0854Q105<br>LEI: 5493008MLSB5KCVNRK06 | Long             | EC               | CORP              | US        |    652395 | NS      | $2420385.45   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Aridis               | COMMSTCK | CUSIP: 040334104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    446588 | NS      | $406395.08    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BARNES & NOBLE       | COMMSTCK | CUSIP: 06777U101<br>LEI: 549300JQGDS5THBPED41 | Long             | EC               | CORP              | US        |    606658 | NS      | $1540911.32   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CollPlant            | COMMSTCK | CUSIP: M2R51X116<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    605437 | NS      | $3081674.33   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Comtech Telecommunic | COMMSTCK | CUSIP: 205826209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57606 | NS      | $672262.02    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc | COMMSTCK | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5450 | NS      | $1251483.50   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DUNDEE PRECIOUS      | COMMSTCK | CUSIP: 265269209<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |   1246700 | NS      | $5940525.50   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Enzo Biochem Inc     | COMMSTCK | CUSIP: 294100102<br>LEI: 5299001N23WBO4XQ2P60 | Long             | EC               | CORP              | US        |   2238590 | NS      | $4454794.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Eton Pharmaceuticals | COMMSTCK | CUSIP: 29772L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    449438 | NS      | $1357302.76   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GSI Technology Inc   | COMMSTCK | CUSIP: 36241U106<br>LEI: 391200I7OS301UELZA68 | Long             | EC               | CORP              | US        |   1819488 | NS      | $4384966.08   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| IMEDIA BRANDS INC    | COMMSTCK | CUSIP: 452465206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    467052 | NS      | $275093.63    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Tr | COMMSTCK | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50000 | NS      | $1140000.00   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KVH INDUSTRIES INC   | COMMSTCK | CUSIP: 482738101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123122 | NS      | $1402359.58   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Spark Networks SE    | COMMSTCK | CUSIP: 846517100<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |    502789 | NS      | $583235.24    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNITE INC          | COMMSTCK | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |    341555 | NS      | $3794676.05   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NI HOLDINGS          | COMMSTCK | CUSIP: 65342T106<br>LEI: 549300LLJVCO2EGU3180 | Long             | EC               | CORP              | US        |     42298 | NS      | $571023.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OPERA LIMITED        | COMMSTCK | CUSIP: 68373M107<br>LEI: N/A                  | Long             | EC               | CORP              | NO        |    895087 | NS      | $4726059.36   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTUM CORP         | COMMSTCK | CUSIP: 747906501<br>LEI: 5493007210175UIK7S88 | Long             | EC               | CORP              | US        |   1779469 | NS      | $2259925.63   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QUMU CORP            | COMMSTCK | CUSIP: 749063103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1111061 | NS      | $577751.72    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COMSCORE INC         | COMMSTCK | CUSIP: 20564W105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1839704 | NS      | $2483600.40   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SONIC FOUNDRY INC    | COMMSTCK | CUSIP: 83545R207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    405405 | NS      | $389188.80    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SONIC FOUNDRY INC    | COMMSTCK | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Stratasys Ltd        | COMMSTCK | CUSIP: M85548101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80000 | NS      | $1122400.00   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA TECHNOLOGIES   | COMMSTCK | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    988420 | NS      | $3765880.20   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EROS STX GLOBAL CORP | CORPBOND | CUSIP: G3788NAA2<br>LEI: 254900397NMORQEIZA86 | Long             | DBT              | CORP              | GG        |    835100 | NS      | $156846.65    | 0.00%             | 2023-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FLYHT AEROSPACE      | FOREIGN  | CUSIP: 30252U303<br>LEI: N/A                  | Long             |  | CORP              | CA        |   2500000 | NS      | $1635322.98   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Money Market Fiducia | MONEYMKT | CUSIP: SF8888528<br>LEI: N/A                  | Long             | STIV             |  | US        |  17281014 | NS      | $17281013.74  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| EAS INVESTORS LP     | PRIVATE  | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |         1 | NS      | $3012399.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| STREAM-IT APP INC    | PRIVATE  | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |   3652988 | NS      | $3523173.00   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL        | TBILL    | CUSIP: 912796X79<br>LEI: N/A                  | Long             | DBT              |  | US        |   2000000 | NS      | $1997822.55   | 0.03%             | 2022-12-15      | Fixed         | 0.00%                 | No            |                  2 | 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