# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-26-004339
**Filing Date:** 2026-3
**Character Count:** 64169
**Document Hash:** 09a4212084fedfe3a73e769fac46f987
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-004339.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0000910472-26-004339

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20260430

**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:** 26807805

**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

### Anfield Enhanced Market ETF (Series ID: S000093394)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000261613 | Anfield Enhanced Market ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 20.1%** |  |
|  | **AEROSPACE & DEFENSE - 3.4%** |  |
| 3880 | General Electric Company | &nbsp;&nbsp;&nbsp; $1190345 |
| 4109 | Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp; 1727875 |
| 4657 | Woodward, Inc. | &nbsp;&nbsp;&nbsp; 1480181 |
|  |  | &nbsp;&nbsp; 4398401 |
|  | **ASSET MANAGEMENT - 0.8%** |  |
| 3184 | Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp; 996879 |
|  | **BIOTECH & PHARMA - 1.3%** |  |
| 77026 | Roivant Sciences Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1665302 |
|  | **CHEMICALS - 0.7%** |  |
| 1395 | NewMarket Corporation | &nbsp;&nbsp;&nbsp; 935752 |
|  | **ENTERTAINMENT CONTENT - 0.9%** |  |
| 5717 | Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp; 1165811 |
|  | **INDUSTRIAL INTERMEDIATE PROD - 1.2%** |  |
| 2992 | RBC Bearings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1495012 |
|  | **INDUSTRIAL SUPPORT SERVICES - 0.8%** |  |
| 23636 | Fastenal Company | &nbsp;&nbsp;&nbsp; 1024857 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 1.0%** |  |
| 12975 | Nasdaq, Inc. | &nbsp;&nbsp;&nbsp; 1257147 |
|  | **INSURANCE - 0.9%** |  |
| 10940 | Loews Corporation | &nbsp;&nbsp;&nbsp; 1154936 |
|  | **METALS & MINING - 2.3%** |  |
| 16480 | Anglogold Ashanti plc | &nbsp;&nbsp;&nbsp; 1530498 |
| 13487 | Newmont Corporation | &nbsp;&nbsp;&nbsp; 1515264 |
|  |  | &nbsp;&nbsp; 3045762 |
|  | **SEMICONDUCTORS - 2.2%** |  |
| 7104 | Advanced Micro Devices, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1681730 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 20.1% (Continued)** | **COMMON STOCKS — 20.1% (Continued)** |  |  |  |
|  | **SEMICONDUCTORS - 2.2% (Continued)** | **SEMICONDUCTORS - 2.2% (Continued)** |  |  |  |
| 6311 | NVIDIA Corporation |  |  |  | &nbsp;&nbsp;&nbsp; $1206221 |
|  |  |  |  |  | &nbsp;&nbsp; 2887951 |
|  | **SOFTWARE - 1.8%** | **SOFTWARE - 1.8%** |  |  |  |
| 6467 | Palantir Technologies, Inc., Class A<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 947998 |
| 60814 | QXO, Inc.<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 1348854 |
|  |  |  |  |  | &nbsp;&nbsp; 2296852 |
|  | **SPECIALTY FINANCE - 0.8%** | **SPECIALTY FINANCE - 0.8%** |  |  |  |
| 59477 | Rocket Companies, Inc., Class A<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 1066423 |
|  | **TECHNOLOGY HARDWARE - 0.9%** | **TECHNOLOGY HARDWARE - 0.9%** |  |  |  |
| 2965 | Lumentum Holdings, Inc.<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 1161806 |
|  | **TELECOMMUNICATIONS - 1.1%** | **TELECOMMUNICATIONS - 1.1%** |  |  |  |
| 24054 | Millicom International Cellular S.A. |  |  |  | &nbsp;&nbsp;&nbsp; 1468016 |
|  | **TOTAL COMMON STOCKS (Cost $21,864,381)** | **TOTAL COMMON STOCKS (Cost $21,864,381)** |  |  | &nbsp;&nbsp; 26020907 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 41.3%** | **CORPORATE BONDS — 41.3%** |  |  |  |
|  | **ASSET MANAGEMENT** — **2.7%** | **ASSET MANAGEMENT** — **2.7%** |  |  |  |
| 1150000 | Ares Capital Corporation |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/01/30 | $1156821 |
| 750000 | Bain Capital Specialty Finance, Inc. |  | 5.9500 | &nbsp;&nbsp;&nbsp;03/15/30 | 749241 |
| 500000 | Blackstone Secured Lending Fund |  | 5.3000 | &nbsp;&nbsp;&nbsp;06/30/30 | 496267 |
| 175000 | Charles Schwab Corporation (The)<sup>(c)</sup> | US0003M + 2.575% | 5.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 174130 |
| 897000 | FS KKR Capital Corporation |  | 3.1250 | &nbsp;&nbsp;&nbsp;10/12/28 | 828202 |
| 116000 | Icahn Enterprises, L.P. / Icahn Enterprises |  | 6.2500 | &nbsp;&nbsp;&nbsp;05/15/26 | 116156 |
|  |  |  |  |  | 3520817 |
|  | **AUTOMOTIVE** — **4.9%** | **AUTOMOTIVE** — **4.9%** |  |  |  |
| 750000 | Ford Motor Credit Company, LLC |  | 4.9500 | &nbsp;&nbsp;&nbsp;05/28/27 | 754366 |
| 200000 | Ford Motor Credit Company, LLC |  | 2.9000 | &nbsp;&nbsp;&nbsp;02/16/28 | 193632 |
| 500000 | Ford Motor Credit Company, LLC |  | 2.9000 | &nbsp;&nbsp;&nbsp;02/10/29 | 473931 |
| 950000 | Ford Motor Credit Company, LLC |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/13/30 | 904462 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 41.4% (Continued)** | **CORPORATE BONDS — 41.4% (Continued)** |  |  |  |
|  | **AUTOMOTIVE** — **4.9% (Continued)** | **AUTOMOTIVE** — **4.9% (Continued)** |  |  |  |
| 875000 | General Motors Financial Company, Inc.<sup>(c)</sup> | H15T5Y + 4.997% | 5.7000 | &nbsp;&nbsp;&nbsp;Perpetual | $878635 |
| 275000 | Nissan Motor Acceptance Company, LLC<sup>(b)</sup> |  | 1.8500 | &nbsp;&nbsp;&nbsp;09/16/26 | 269481 |
| 250000 | Nissan Motor Acceptance Company, LLC<sup>(b)</sup> |  | 5.3000 | &nbsp;&nbsp;&nbsp;09/13/27 | 250923 |
| 800000 | Nissan Motor Acceptance Company, LLC<sup>(b)</sup> |  | 2.4500 | &nbsp;&nbsp;&nbsp;09/15/28 | 744672 |
| 525000 | Nissan Motor Acceptance Company, LLC<sup>(b)</sup> |  | 5.5500 | &nbsp;&nbsp;&nbsp;09/13/29 | 523725 |
| 475000 | Nissan Motor Acceptance Company, LLC<sup>(b)</sup> |  | 6.1250 | &nbsp;&nbsp;&nbsp;09/30/30 | 473997 |
| 175000 | Nissan Motor Acceptance Corporation<sup>(b)</sup> |  | 2.0000 | &nbsp;&nbsp;&nbsp;03/09/26 | 174338 |
| 700000 | Stellantis Finance US, Inc.<sup>(b)</sup> |  | 5.3500 | &nbsp;&nbsp;&nbsp;03/17/28 | 715620 |
|  |  |  |  |  | 6357782 |
|  | **BANKING** — **10.8%** | **BANKING** — **10.8%** |  |  |  |
| 100000 | Bank of America Corporation<sup>(c)</sup> | H15T5Y + 3.231% | 6.1250 | &nbsp;&nbsp;&nbsp;Perpetual | 101352 |
| 2015000 | Bank of America Corporation<sup>(c)</sup> | H15T5Y + 2.760% | 4.3750 | &nbsp;&nbsp;&nbsp;Perpetual | 2005691 |
| 1525000 | Bank of Nova Scotia (The)<sup>(c)</sup> | H15T5Y + 2.613% | 3.6250 | &nbsp;&nbsp;&nbsp;10/27/81 | 1490915 |
| 150000 | BNP Paribas S.A.<sup>(b),(c)</sup> | H15T5Y + 2.944% | 4.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 140936 |
| 1350000 | BNP Paribas S.A.<sup>(b),(c)</sup> | H15T5Y + 3.196% | 4.6250 | &nbsp;&nbsp;&nbsp;Perpetual | 1350072 |
| 2062000 | Citigroup, Inc. Series Y<sup>(c)</sup> | H15T5Y + 3.000% | 4.1500 | &nbsp;&nbsp;&nbsp;Perpetual | 2049626 |
| 573000 | Citizens Financial Group, Inc.<sup>(c)</sup> | H15T5Y + 3.215% | 4.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 569884 |
| 500000 | Credit Agricole S.A.<sup>(b)</sup> |  | 3.2500 | &nbsp;&nbsp;&nbsp;01/14/30 | 477198 |
| 547000 | KeyCorporation<sup>(c)</sup> | TSFR3M + 3.606% | 5.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 547814 |
| 845000 | M&T Bank Corporation<sup>(c)</sup> | H15T5Y + 2.679% | 3.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 830398 |
| 400000 | National Bank of Canada |  | 5.0000 | &nbsp;&nbsp;&nbsp;07/24/30 | 400038 |
| 803000 | PNC Financial Services Group, Inc. (The)<sup>(c)</sup> | H15T5Y + 2.595% | 3.4000 | &nbsp;&nbsp;&nbsp;Perpetual | 791144 |
| 400000 | Royal Bank of Canada |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/30/30 | 400111 |
| 1846000 | US Bancorp<sup>(c)</sup> | SOFR + 2.914% | 5.3000 | &nbsp;&nbsp;&nbsp;Perpetual | 1849722 |
| 910000 | US Bancorp<sup>(c)</sup> | H15T5Y + 2.541% | 3.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 897745 |
|  |  |  |  |  | 13902646 |
|  | **BIOTECH & PHARMA** — **0.4%** | **BIOTECH & PHARMA** — **0.4%** |  |  |  |
| 570000 | Teva Pharmaceutical Finance Netherlands III BV |  | 3.1500 | &nbsp;&nbsp;&nbsp;10/01/26 | 565760 |
|  | **COMMERCIAL SUPPORT SERVICES** — **1.0%** | **COMMERCIAL SUPPORT SERVICES** — **1.0%** |  |  |  |
| 1355000 | Aramark Services, Inc.<sup>(b)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;02/01/28 | 1355001 |
|  | **ELECTRIC UTILITIES** — **3.8%** | **ELECTRIC UTILITIES** — **3.8%** |  |  |  |
| 846000 | American Electric Power Company, Inc.<sup>(c)</sup> | H15T5Y + 2.675% | 3.8750 | &nbsp;&nbsp;&nbsp;02/15/62 | 834250 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 41.4% (Continued)** | **CORPORATE BONDS — 41.4% (Continued)** |  |  |  |
|  | **ELECTRIC UTILITIES** — **3.8% (Continued)** | **ELECTRIC UTILITIES** — **3.8% (Continued)** |  |  |  |
| 568000 | CenterPoint Energy, Inc.<sup>(c)</sup> | H15T5Y + 3.254% | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/55 | 595845 |
| 468000 | CMS Energy Corporation 4.75%<sup>(c)</sup> | H15T5Y + 4.116% | 4.7500 | &nbsp;&nbsp;&nbsp;06/01/50 | 462703 |
| 1443000 | Duke Energy Corporation<sup>(c)</sup> | H15T5Y + 2.321% | 3.2500 | &nbsp;&nbsp;&nbsp;01/15/82 | 1408269 |
| 1636000 | Sempra<sup>(c)</sup> | H15T5Y + 2.868% | 4.1250 | &nbsp;&nbsp;&nbsp;04/01/52 | 1621839 |
|  |  |  |  |  | 4922906 |
|  | **ENTERTAINMENT CONTENT** — **0.6%** | **ENTERTAINMENT CONTENT** — **0.6%** |  |  |  |
| 825000 | Univision Communications, Inc.<sup>(b)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;05/01/29 | 788350 |
|  | **HEALTH CARE FACILITIES & SERVICES** — **0.3%** | **HEALTH CARE FACILITIES & SERVICES** — **0.3%** |  |  |  |
| 350000 | Charles River Laboratories International, Inc.<sup>(b)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;05/01/28 | 345817 |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **0.6%** | **INSTITUTIONAL FINANCIAL SERVICES** — **0.6%** |  |  |  |
| 500000 | Bank of New York Mellon Corporation (The)<sup>(c)</sup> | H15T5Y + 2.297% | 6.3000 | &nbsp;&nbsp;&nbsp;Perpetual | 517858 |
| 275000 | Bank of New York Mellon Corporation (The)<sup>(c)</sup> | H15T5Y + 2.630% | 3.7500 | &nbsp;&nbsp;&nbsp;Perpetual | 270873 |
|  |  |  |  |  | $788731 |
|  | **LEISURE FACILITIES & SERVICES** — **5.0%** | **LEISURE FACILITIES & SERVICES** — **5.0%** |  |  |  |
| 1125000 | Boyd Gaming Corporation |  | 4.7500 | &nbsp;&nbsp;&nbsp;12/01/27 | 1125129 |
| 600000 | Caesars Entertainment, Inc.<sup>(b)</sup> |  | 4.6250 | &nbsp;&nbsp;&nbsp;10/15/29 | 576314 |
| 875000 | International Game Technology plc<sup>(b)</sup> |  | 5.2500 | &nbsp;&nbsp;&nbsp;01/15/29 | 874624 |
| 200000 | Light & Wonder International Inc<sup>(b)</sup> |  | 7.5000 | &nbsp;&nbsp;&nbsp;09/01/31 | 209930 |
| 1080000 | Penn National Gaming, Inc.<sup>(b)</sup> |  | 5.6250 | &nbsp;&nbsp;&nbsp;01/15/27 | 1078870 |
| 1225000 | Penn National Gaming, Inc.<sup>(b)</sup> |  | 4.1250 | &nbsp;&nbsp;&nbsp;07/01/29 | 1137621 |
| 875000 | Scientific Games International, Inc.<sup>(b)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;11/15/29 | 898759 |
| 575000 | Station Casinos, LLC<sup>(b)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;02/15/28 | 572785 |
|  |  |  |  |  | 6474032 |
|  | **OIL & GAS PRODUCERS** — **1.4%** | **OIL & GAS PRODUCERS** — **1.4%** |  |  |  |
| 706000 | Enbridge, Inc.<sup>(c)</sup> | TSFR3M + 3.680% | 5.5000 | &nbsp;&nbsp;&nbsp;07/15/77 | 705261 |
| 801000 | Energy Transfer, L.P.<sup>(c)</sup> | TSFR3M + 4.155% | 6.6250 | &nbsp;&nbsp;&nbsp;Perpetual | 812060 |
| 270000 | Occidental Petroleum Corporation |  | 7.0000 | &nbsp;&nbsp;&nbsp;11/15/27 | 281078 |
|  |  |  |  |  | 1798399 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **1.7%** | **REAL ESTATE INVESTMENT TRUSTS** — **1.7%** |  |  |  |
| 500000 | GLP Capital, L.P. / GLP Financing II, Inc. |  | 5.3000 | &nbsp;&nbsp;&nbsp;01/15/29 | 509877 |
| 1025000 | SBA Communications Corporation |  | 3.8750 | &nbsp;&nbsp;&nbsp;02/15/27 | 1017912 |
| 175000 | VICI Properties LP / VICI Note Co Inc<sup>(b)</sup> |  | 4.6250 | &nbsp;&nbsp;&nbsp;12/01/29 | 175127 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 41.4% (Continued)** | **CORPORATE BONDS — 41.4% (Continued)** |  |  |  |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **1.7% (Continued)** | **REAL ESTATE INVESTMENT TRUSTS** — **1.7% (Continued)** |  |  |  |
| 500000 | VICI Properties, L.P. / VICI Note Company, Inc.<sup>(b)</sup> |  | 4.1250 | &nbsp;&nbsp;&nbsp;08/15/30 | $485515 |
|  |  |  |  |  | 2188431 |
|  | **SPECIALTY FINANCE** — **7.6%** | **SPECIALTY FINANCE** — **7.6%** |  |  |  |
| 825000 | AIR Lease Corp Sukuk Ltd.<sup>(b)</sup> |  | 5.8500 | &nbsp;&nbsp;&nbsp;04/01/28 | 843786 |
| 592000 | Air Lease Corporation<sup>(c)</sup> | H15T5Y + 4.076% | 4.6500 | &nbsp;&nbsp;&nbsp;Perpetual | 591466 |
| 2098000 | Air Lease Corporation<sup>(c)</sup> | H15T5Y + 3.149% | 4.1250 | &nbsp;&nbsp;&nbsp;Perpetual | 2086004 |
| 1199000 | Ally Financial, Inc. Series B<sup>(c)</sup> | H15T5Y + 3.868% | 4.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 1191743 |
| 1220000 | Ally Financial, Inc.<sup>(c)</sup> | H15T7Y + 3.481% | 4.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 1169750 |
| 1857000 | American Express Company<sup>(c)</sup> | H15T5Y + 2.854% | 3.5500 | &nbsp;&nbsp;&nbsp;Perpetual | 1839275 |
| 250000 | Aviation Capital Group, LLC<sup>(b)</sup> |  | 5.1250 | &nbsp;&nbsp;&nbsp;04/10/30 | 254162 |
| 705000 | Capital One Financial Corporation<sup>(c)</sup> | H15T5Y + 3.157% | 3.9500 | &nbsp;&nbsp;&nbsp;Perpetual | 699751 |
| 250000 | Capital One Financial Corporation | TSFR3M + 3.338% | 5.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 251648 |
| 150000 | OneMain Finance Corporation |  | 3.8750 | &nbsp;&nbsp;&nbsp;09/15/28 | 145964 |
| 700000 | Synchrony Financial |  | 5.1500 | &nbsp;&nbsp;&nbsp;03/19/29 | 710790 |
|  |  |  |  |  | 9784339 |
|  | **TRANSPORTATION & LOGISTICS** — **0.6%** | **TRANSPORTATION & LOGISTICS** — **0.6%** |  |  |  |
| 175000 | Air Canada<sup>(b)</sup> |  | 3.8750 | &nbsp;&nbsp;&nbsp;08/15/26 | 174444 |
| 600000 | United Airlines, Inc.<sup>(b)</sup> |  | 4.6250 | &nbsp;&nbsp;&nbsp;04/15/29 | 599732 |
|  |  |  |  |  | 774176 |
|  | **TOTAL CORPORATE BONDS (Cost $53,094,356)** | **TOTAL CORPORATE BONDS (Cost $53,094,356)** |  |  | 53567187 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **PREFERRED STOCK — 3.8%** | **PREFERRED STOCK — 3.8%** |  |  |  |
|  | **ASSET MANAGEMENT** — **0.5%** | **ASSET MANAGEMENT** — **0.5%** |  |  |  |
| 625000 | Charles Schwab Corporation (The)<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 622641 |
|  | **BANKING** — **1.8%** | **BANKING** — **1.8%** |  |  |  |
| 1400000 | First Citizens BancShares, Inc.<sup>(b),(c)</sup> |  | 7.9570 | &nbsp;&nbsp;&nbsp;Perpetual | 1432697 |
| 920000 | Wells Fargo & Company<sup>(c)</sup> |  | 3.9000 | &nbsp;&nbsp;&nbsp;03/15/69 | 919368 |
|  |  |  |  |  | 2352065 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** | **ANFIELD ENHANCED MARKET ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **PREFERRED STOCK — 3.8% (Continued)** | **PREFERRED STOCK — 3.8% (Continued)** |  |  |  |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **1.0%** | **INSTITUTIONAL FINANCIAL SERVICES** — **1.0%** |  |  |  |
| 550000 | Bank of New York Mellon Corporation (The) Series H<sup>(c)</sup> |  | 3.7000 | &nbsp;&nbsp;&nbsp;Perpetual | $549186 |
| 700000 | Goldman Sachs Group, Inc. (The)<sup>(c)</sup> |  | 3.6500 | &nbsp;&nbsp;&nbsp;Perpetual | 696848 |
|  |  |  |  |  | 1246034 |
|  | **OIL & GAS PRODUCERS** — **0.5%** | **OIL & GAS PRODUCERS** — **0.5%** |  |  |  |
| 725000 | Energy Transfer, L.P.<sup>(c)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 728697 |
|  | **TOTAL PREFERRED STOCK (Cost $4,924,854)** | **TOTAL PREFERRED STOCK (Cost $4,924,854)** |  |  | 4949437 |
| **Principal Amount ($)** |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 29.7%** | **U.S. GOVERNMENT & AGENCIES — 29.7%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **29.7%** | **U.S. TREASURY BILLS** — **29.7%** |  |  |  |
| 38500000 | United States Treasury Bill<sup>(d)</sup> |  | 3.4500 | &nbsp;&nbsp;&nbsp;03/05/26 | 38380335 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $38,373,500)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $38,373,500)** |  |  | 38380335 |
|  | **TOTAL INVESTMENTS - 95.1% (Cost $118,257,091)** | **TOTAL INVESTMENTS - 95.1% (Cost $118,257,091)** |  |  | &nbsp;&nbsp;&nbsp; $122917866 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 4.9%** | **OTHER ASSETS IN EXCESS OF LIABILITIES- 4.9%** |  |  | &nbsp;&nbsp; 6411671 |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $129329537 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** | **Broker** | **Expiration** | **Notional Amount<sup>(e)</sup>** | **Value and Unrealized Appreciation** |
| 370 | CME E-Mini Standard & Poor's 500 Index Future | Interactive Broker | 03/20/2026 | &nbsp;&nbsp;&nbsp; $128866375 | &nbsp;&nbsp;&nbsp; $1588675 |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  |  |

---

---

| | | |
|:---|:---|:---|
| CME | CME | - Chicago Mercantile Exchange |
| LLC | LLC | - Limited Liability Company |
| L.P. | L.P. | - Limited Partnership |
| Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;- Limited Company | &nbsp;&nbsp;&nbsp;&nbsp;- Limited Company |
| PLC | &nbsp;&nbsp;&nbsp;&nbsp;- Public Limited Company | &nbsp;&nbsp;&nbsp;&nbsp;- Public Limited Company |
| S.A. | &nbsp;&nbsp;&nbsp;&nbsp;- Société Anonyme | &nbsp;&nbsp;&nbsp;&nbsp;- Société Anonyme |
| H15T5Y | &nbsp;&nbsp;&nbsp;&nbsp;- US Treasury Yield Curve Rate T Note Constant Maturity 5 Year | &nbsp;&nbsp;&nbsp;&nbsp;- US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| SOFR | &nbsp;&nbsp;&nbsp;&nbsp;- United States Secured SOFR Overnight Financing Index | &nbsp;&nbsp;&nbsp;&nbsp;- United States Secured SOFR Overnight Financing Index |
| TSFRM | &nbsp;&nbsp;&nbsp;&nbsp;- Term SOFR Secured Overnight Financing Rate 3 month | &nbsp;&nbsp;&nbsp;&nbsp;- Term SOFR Secured Overnight Financing Rate 3 month |
| US0003M | &nbsp;&nbsp;&nbsp;&nbsp;- ICE LIBOR USD 3 Month | &nbsp;&nbsp;&nbsp;&nbsp;- ICE LIBOR USD 3 Month |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of January 31, 2026 the total market value of 144A securities is $16,924,495 or 13.1% of net assets.

<sup>(c)</sup> Variable rate security; the rate shown represents the rate on January 31, 2026.

<sup>(d)</sup> Zero coupon bond.

<sup>(e)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the 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:** Anfield Enhanced Market ETF

- **b. EDGAR series identifier (if any):** S000093394

- **c. LEI of Series:** 529900F8LZJRYZEKVY13

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-01-31

**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:** $130257336.22

**Total Liabilities:** $927799.53

**Net Assets:** $129329536.69

**Cash Not Reported:** $5100463.39

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 312.60578700 | **1-Year:** 2639.94926300 | **5-Year:** 2607.73312800 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 334.87205200 | **1-Year:** 1616.06315800 | **5-Year:** 1430.22549400 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261613 | 0.09%                | 0.40%                | 2.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-391973.73              | $543749.18                                 |
| Month 2  | $9590.93                 | $658004.04                                 |
| Month 3  | $-232037.54              | $1585133.30                                |

**Designated Index Information**

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

- **Index Identifier:** 500TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Advanced Micro Devices Inc.                                     | ADV MICRO DEVICE        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      7104 | NS      | $1681729.92   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.                                 | AFFIL MANAGERS          | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      3184 | NS      | $996878.56    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Canada                                                      | ACACN 3 7/8 08/15/26    | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $174443.90    | 0.13%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corporation                                           | AL 4.65 PERP            | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    592000 | PA      | $591465.96    | 0.46%             | 2170-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                           | AL 4 1/8 PERP           | CUSIP: 00912XBK9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2098000 | PA      | $2086003.85   | 1.61%             | 2173-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp. Sukuk Ltd.                                      | AL 5.85 04/01/28        | CUSIP: 00914QAA5<br>LEI: 549300FDSPH65OVJVS35 | Long             | DBT              | CORP              | KY        |    825000 | PA      | $843786.17    | 0.65%             | 2028-04-01      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 4.7 PERP           | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1199000 | PA      | $1191742.57   | 0.92%             | 2169-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 4.7 PERP           | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1169750.15   | 0.90%             | 2169-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                | AEP 3 7/8 02/15/62      | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    846000 | PA      | $834249.87    | 0.65%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| American Express Company                                        | AXP 3.55 PERP           | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1857000 | PA      | $1839274.56   | 1.42%             | 2171-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Aramark Services, Inc.                                          | ARMK 5 02/01/28         | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1355000.81   | 1.05%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ares Capital Corp.                                              | ARCC 5 1/2 09/01/30     | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1156820.89   | 0.89%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                      | ACGCAP 5 1/8 04/10/30   | CUSIP: 05369AAS0<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254162.01    | 0.20%             | 2030-04-10      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 4 5/8 PERP          | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1350000 | PA      | $1350071.55   | 1.04%             | 2177-01-12      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 4 1/2 PERP          | CUSIP: 05565ALQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    150000 | PA      | $140936.40    | 0.11%             | 2170-02-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                              | BCSF 5.95 03/15/30      | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749240.85    | 0.58%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                           | BAC 4 3/8 PERP          | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2015000 | PA      | $2005690.50   | 1.55%             | 2174-04-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                           | BAC 6 1/8 PERP          | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101352.10    | 0.08%             | 2173-07-27      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                               | BK 3.7 PERP             | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    550000 | PA      | $549185.61    | 0.42%             | 2170-03-20      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                               | BK 3 3/4 PERP           | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    275000 | PA      | $270873.21    | 0.21%             | 2176-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                               | BK 6.3 PERP             | CUSIP: 064058AN0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517857.50    | 0.40%             | 2174-03-20      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia                                             | BNS 3 5/8 10/27/2081    | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1525000 | PA      | $1490915.34   | 1.15%             | 2081-10-27      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                 | BXSL 5.3 06/30/30       | CUSIP: 09261XAK8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496266.43    | 0.38%             | 2030-06-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Boyd Gaming Corporation                                         | BYD 4 3/4 12/01/27      | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1125128.81   | 0.87%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corporation                                          | CMS 4 3/4 06/01/50      | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    468000 | PA      | $462702.80    | 0.36%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                      | CZR 4 5/8 10/15/29      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    600000 | PA      | $576314.16    | 0.45%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                     | COF 3.95 PERP           | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    705000 | PA      | $699751.20    | 0.54%             | 2169-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                     | COF FLOAT PERP          | CUSIP: 14040HDK8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251648.50    | 0.19%             | 2173-10-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Centerpoint Energy Inc                                          | CNP 7 02/15/55          | CUSIP: 15189TBH9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    568000 | PA      | $595844.50    | 0.46%             | 2055-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                  | CRL 4 1/4 05/01/28      | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    350000 | PA      | $345817.43    | 0.27%             | 2028-05-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Inc.                                                  | C 4.15 PERP             | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2062000 | PA      | $2049626.47   | 1.58%             | 2170-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                    | CFG 4 PERP              | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    573000 | PA      | $569883.68    | 0.44%             | 2171-10-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                            | ACAFP 3 1/4 01/14/30    | CUSIP: 225313AM7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $477197.95    | 0.37%             | 2030-01-14      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Duke Energy Corp                                                | DUK 3 1/4 01/15/2082    | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1443000 | PA      | $1408269.44   | 1.09%             | 2082-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Electronic Arts Inc.                                            | ELECTRONIC ARTS         | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      5717 | NS      | $1165810.64   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                                                   | ENBCN 5 1/2 07/15/2077  | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    706000 | PA      | $705261.10    | 0.55%             | 2077-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                              | ET 6 5/8 PERP           | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    801000 | PA      | $812059.41    | 0.63%             | 2167-11-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                              | ET 6 1/2 PERP           | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    725000 | PA      | $728696.78    | 0.56%             | 2169-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3 1/8 10/12/28      | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    897000 | PA      | $828202.23    | 0.64%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Fastenal Co.                                                    | FASTENAL CO             | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     23636 | NS      | $1024856.96   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                        | FCNCA FLOAT PERP        | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1432697.00   | 1.11%             | 2170-06-15      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4 11/13/30            | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    950000 | PA      | $904462.76    | 0.70%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 2.9 02/16/28          | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193632.06    | 0.15%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 2.9 02/10/29          | CUSIP: 345397B93<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $473930.76    | 0.37%             | 2029-02-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.95 05/28/27         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    750000 | PA      | $754365.51    | 0.58%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GLP Capital L.P. and GLP Financing II, Inc.                     | GLPI 5.3 01/15/29       | CUSIP: 361841AL3<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509876.50    | 0.39%             | 2029-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GE Aerospace                                                    | GENERAL ELECTRIC        | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      3880 | NS      | $1190345.20   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Financial Company  Inc                           | GM 5.7 PERP             | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    875000 | PA      | $878634.75    | 0.68%             | 2069-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                       | GS 3.65 PERP            | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    700000 | PA      | $696847.97    | 0.54%             | 2170-08-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Huntington Ingalls Industries, Inc.                             | HUNTINGTON INGAL        | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      4109 | NS      | $1727875.59   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation | IEP 6 1/4 05/15/26      | CUSIP: 451102BT3<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |    116000 | PA      | $116156.39    | 0.09%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Brightstar Lottery PLC                                          | IGT 5 1/4 01/15/29      | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    875000 | PA      | $874624.19    | 0.68%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| KeyCorp                                                         | KEY 5 PERP              | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    547000 | PA      | $547814.21    | 0.42%             | 2049-12-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc.                               | LNW 7 1/2 09/01/31      | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209930.20    | 0.16%             | 2031-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Loews Corporation                                               | LOEWS CORP              | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |     10940 | NS      | $1154935.80   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                                          | LUMENTUM HOL            | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      2965 | NS      | $1161805.60   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                                            | MTB 3 1/2 PERP          | CUSIP: 55261FAN4<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    845000 | PA      | $830397.81    | 0.64%             | 2173-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nasdaq Inc                                                      | NASDAQ INC              | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     12975 | NS      | $1257147.75   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Canada                                         | NACN 5 07/24/30         | CUSIP: 63305MNW7<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $400038.13    | 0.31%             | 2030-07-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Newmarket Corporation                                           | NEWMARKET CORP          | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      1395 | NS      | $935752.05    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                                             | NEWMONT CORP            | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     13487 | NS      | $1515264.45   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 03/09/26        | CUSIP: 654740BS7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174337.78    | 0.13%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 1.85 09/16/26     | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    275000 | PA      | $269481.49    | 0.21%             | 2026-09-16      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2.45 09/15/28     | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    800000 | PA      | $744671.90    | 0.58%             | 2028-09-15      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 5.3 09/13/27      | CUSIP: 65480CAG0<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250922.64    | 0.19%             | 2027-09-13      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 5.55 09/13/29     | CUSIP: 65480CAH8<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    525000 | PA      | $523724.89    | 0.40%             | 2029-09-13      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 6 1/8 09/30/30    | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    475000 | PA      | $473997.28    | 0.37%             | 2030-09-30      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| NVIDIA Corp.                                                    | NVIDIA CORP             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      6311 | NS      | $1206221.43   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                                      | OXY 7 11/15/27          | CUSIP: 674599DP7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    270000 | PA      | $281078.10    | 0.22%             | 2027-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                   | OMF 3 7/8 09/15/28      | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145964.34    | 0.11%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                               | PNC 3.4 PERP            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    803000 | PA      | $791144.43    | 0.61%             | 2172-12-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Palantir Technologies Inc                                       | PALANTIR TECHN-A        | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      6467 | NS      | $947997.53    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN Entertainment Inc                                          | PENN 5 5/8 01/15/27     | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1078870.43   | 0.83%             | 2027-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| PENN Entertainment Inc                                          | PENN 4 1/8 07/01/29     | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1137620.42   | 0.88%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| RBC Bearings Inc                                                | RBC BEARINGS INC        | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2992 | NS      | $1495012.64   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Companies Inc                                            | ROCKET COS INC-A        | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59477 | NS      | $1066422.61   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                            | RY 5 12/30/30           | CUSIP: 78014RD49<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $400110.77    | 0.31%             | 2030-12-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                        | SBAC 3 7/8 02/15/27     | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1017911.81   | 0.79%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                  | SCHW 5 PERP             | CUSIP: 808513AR6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174130.43    | 0.13%             | 2177-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                  | SCHW 4 PERP             | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    625000 | PA      | $622641.50    | 0.48%             | 2169-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc.                               | SGMS 7 1/4 11/15/29     | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    875000 | PA      | $898758.88    | 0.69%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Sempra                                                          | SRE 4 1/8 04/01/52      | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   1636000 | PA      | $1621839.44   | 1.25%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| QXO Inc                                                         | QXO INC                 | CUSIP: 82846H405<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60814 | NS      | $1348854.52   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Station Casinos LLC                                             | RRR 4 1/2 02/15/28      | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    575000 | PA      | $572785.10    | 0.44%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Finance Us Inc                                       | STLA 5.35 03/17/28      | CUSIP: 85855CAM2<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    700000 | PA      | $715620.32    | 0.55%             | 2028-03-17      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Synchrony Financial                                             | SYF 5.15 03/19/29       | CUSIP: 87165BAP8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    700000 | PA      | $710789.67    | 0.55%             | 2029-03-19      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 3.15 10/01/26      | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    570000 | PA      | $565759.31    | 0.44%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                   | USB 5.3 PERP            | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1846000 | PA      | $1849721.54   | 1.43%             | 2049-12-29      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                   | USB 3.7 PERP            | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    910000 | PA      | $897745.21    | 0.69%             | 2174-01-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                          | UAL 4 5/8 04/15/29      | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    600000 | PA      | $599731.79    | 0.46%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                                    | B 03/05/26              | CUSIP: 912797RV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38500000 | PA      | $38380335.07  | 29.68%            | 2026-03-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                   | UVN 4 1/2 05/01/29      | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    825000 | PA      | $788349.79    | 0.61%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Vici Properties Inc                                             | VICI 4 5/8 12/01/29     | CUSIP: 92564RAB1<br>LEI: 254900RKH6RY9KCJQH63 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175127.06    | 0.14%             | 2029-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Vici Properties Inc                                             | VICI 4 1/8 08/15/30     | CUSIP: 92564RAE5<br>LEI: 254900RKH6RY9KCJQH63 | Long             | DBT              | CORP              | US        |    500000 | PA      | $485515.36    | 0.38%             | 2030-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                               | WFC 3.9 PERP            | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    920000 | PA      | $919368.42    | 0.71%             | 2169-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Woodward Inc.                                                   | WOODWARD INC            | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      4657 | NS      | $1480180.88   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                     | S&P500 EMINI FUT  Mar26 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |       370 | NC      | $1588675.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                                           | ANGLOGOLD ASHANT        | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     16480 | NS      | $1530497.60   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd                                            | ROIVANT SCIENCES        | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Long             | EC               | CORP              | BM        |     77026 | NS      | $1665302.12   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellular SA                              | MILLICOM INTL           | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     24054 | NS      | $1468015.62   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

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

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer