# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001752724-25-152975
**Filing Date:** 2025-6
**Character Count:** 10837
**Document Hash:** ed1062ec9c62cc22a3a13f869db427c9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-152975.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001752724-25-152975

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250624

**PERIOD START**: 20250731

**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:** 251067708

**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

### Foundations Dynamic Value ETF (Series ID: S000080860)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000243430 | Foundations Dynamic Value ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **FOUNDATIONS DYNAMIC CORE ETF** | **FOUNDATIONS DYNAMIC CORE ETF** | **FOUNDATIONS DYNAMIC CORE ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 89.4%** |  |
|  | **EQUITY - 89.4%** |  |
| 721 | iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp; $402289 |
| 3045 | iShares Core S&P Mid-Cap ETF | &nbsp;&nbsp;&nbsp; 173291 |
| 4781 | iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;&nbsp; 478722 |
| 791 | Vanguard Large-Cap ETF | &nbsp;&nbsp;&nbsp; 201934 |
| 2191 | Vanguard Total Stock Market ETF | &nbsp;&nbsp;&nbsp; 597749 |
|  |  | &nbsp;&nbsp; 1853985 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $2,110,537)** | &nbsp;&nbsp; 1853985 |
|  | **TOTAL INVESTMENTS - 89.4% (Cost $2,110,537)** | &nbsp;&nbsp;&nbsp; $1853985 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 10.6%** | &nbsp;&nbsp; 220413 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $2074398 |

---

ETF - Exchange-Traded Fund

---

| | | |
|:---|:---|:---|
| **FOUNDATIONS DYNAMIC GROWTH ETF** | **FOUNDATIONS DYNAMIC GROWTH ETF** | **FOUNDATIONS DYNAMIC GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 89.3%** |  |
|  | **EQUITY - 89.3%** |  |
| 2734 | iShares Core S&P U.S. Growth ETF | &nbsp;&nbsp;&nbsp; $354518 |
| 3141 | Vanguard Growth ETF | &nbsp;&nbsp;&nbsp; 1188208 |
| 1134 | Vanguard Mega Cap Growth ETF | &nbsp;&nbsp;&nbsp; 357698 |
| 875 | Vanguard Mid-Cap Growth ETF | &nbsp;&nbsp;&nbsp; 217788 |
| 795 | Vanguard Small-Cap Growth ETF | &nbsp;&nbsp;&nbsp; 197128 |
|  |  | &nbsp;&nbsp; 2315340 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $2,566,373)** | &nbsp;&nbsp; 2315340 |
|  | **TOTAL INVESTMENTS - 89.3% (Cost $2,566,373)** | &nbsp;&nbsp;&nbsp; $2315340 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 10.7%** | &nbsp;&nbsp; 278800 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $2594140 |

---

ETF - Exchange-Traded Fund

---

| | | |
|:---|:---|:---|
| **FOUNDATIONS DYNAMIC INCOME ETF** | **FOUNDATIONS DYNAMIC INCOME ETF** | **FOUNDATIONS DYNAMIC INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 86.8%** |  |
|  | **FIXED INCOME - 86.8%** |  |
| 11868 | BlackRock Ultra Short-Term Bond ETF | &nbsp;&nbsp;&nbsp; $601589 |
| 5685 | Invesco Short Term Treasury ETF | &nbsp;&nbsp;&nbsp; 599995 |
| 2295 | iShares 0-3 Month Treasury Bond ETF | &nbsp;&nbsp;&nbsp; 231084 |
| 8806 | iShares 0-5 Year TIPS Bond ETF | &nbsp;&nbsp;&nbsp; 911420 |
| 19897 | SPDR Portfolio Short Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 599895 |
| 7652 | Vanguard Short-Term Bond ETF | &nbsp;&nbsp;&nbsp; 602825 |
| 7575 | Vanguard Short-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 599789 |
| 12240 | Vanguard Short-Term Inflation-Protected Securities ETF | &nbsp;&nbsp;&nbsp; 614569 |
|  |  | &nbsp;&nbsp; 4761166 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $4,727,891)** | &nbsp;&nbsp; 4761166 |
|  | **TOTAL INVESTMENTS - 86.8% (Cost $4,727,891)** | &nbsp;&nbsp;&nbsp; $4761166 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 13.2%** | &nbsp;&nbsp; 721669 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $5482835 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt

---

| | | |
|:---|:---|:---|
| **FOUNDATIONS DYNAMIC VALUE ETF** | **FOUNDATIONS DYNAMIC VALUE ETF** | **FOUNDATIONS DYNAMIC VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 92.1%** |  |
|  | **EQUITY - 92.1%** |  |
| 24739 | Avantis US Large Cap Value ETF | &nbsp;&nbsp;&nbsp; $1546188 |
| 12473 | Vanguard Dividend Appreciation ETF | &nbsp;&nbsp;&nbsp; 2382717 |
| 19094 | Vanguard High Dividend Yield ETF | &nbsp;&nbsp;&nbsp; 2375294 |
| 12954 | Vanguard Mega Cap Value ETF | &nbsp;&nbsp;&nbsp; 1602669 |
| 9819 | Vanguard Mid-Cap Value ETF | &nbsp;&nbsp;&nbsp; 1528524 |
| 8019 | Vanguard Small-Cap Value ETF | &nbsp;&nbsp;&nbsp; 1443260 |
| 26757 | Vanguard Value ETF | &nbsp;&nbsp;&nbsp; 4454504 |
|  |  | &nbsp;&nbsp; 15333156 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $15,793,050)** | &nbsp;&nbsp; 15333156 |
|  | **TOTAL INVESTMENTS - 92.1% (Cost $15,793,050)** | &nbsp;&nbsp;&nbsp; $15333156 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 7.9%** | &nbsp;&nbsp; 1317592 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $16650748 |

---

ETF - Exchange-Traded Fund

## 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:** Foundations Dynamic Value ETF

- **b. EDGAR series identifier (if any):** S000080860

- **c. LEI of Series:** 5493000KQKCZG8TFM169

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

- **a. Date of fiscal year-end:** 2025-07-31

- **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:** $16650747.68

**Net Assets:** $16650747.68

**Cash Not Reported:** $1298348.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243430 | -0.56%               | -3.30%               | -3.12%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9097.83                 | $27082.87                                  |
| Month 2  | $-584770.06              | $20719.08                                  |
| Month 3  | $-437594.20              | $-584106.63                                |

**Designated Index Information**

- **Index Name:** S&P 500 Value (TR)

- **Index Identifier:** 500VTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Century ETF Trust | AV US LRG CAP VL | CUSIP: 025072349<br>LEI: 5493006IKK34YJD98183 | Long             | EC               | RF                | US        |     24739 | NS      | $1546187.50   | 9.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Specialized Funds | VANGUARD DVD A E | CUSIP: 921908844<br>LEI: 549300OM0CLBHZ9MZW59 | Long             | EC               | RF                | US        |     12473 | NS      | $2382717.19   | 14.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund        | VANGUARD MEGA CA | CUSIP: 921910840<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |     12954 | NS      | $1602668.88   | 9.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Whitehall Funds   | VANGUARD HI DV Y | CUSIP: 921946406<br>LEI: 5493006QD7VQBS2FQD13 | Long             | EC               | RF                | US        |     19094 | NS      | $2375293.60   | 14.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds       | VANGUARD M/C VAL | CUSIP: 922908512<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      9819 | NS      | $1528523.73   | 9.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds       | VANGUARD S/C V E | CUSIP: 922908611<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      8019 | NS      | $1443259.62   | 8.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds       | VANGUARD VAL ETF | CUSIP: 922908744<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     26757 | NS      | $4454505.36   | 26.75%            |  |  |  | No            |                  1 | 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