# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0002000324-26-002004
**Filing Date:** 2026-5
**Character Count:** 29271
**Document Hash:** 68837066d15c0dc5a6d65e5d6f96e389
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-002004.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0002000324-26-002004

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Starboard Investment Trust
- **CENTRAL INDEX KEY:** 0001464413

**ORGANIZATION NAME:**
- **EIN:** 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:** 261015092

**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

### Matisse Discounted Bond CEF Strategy (Series ID: S000061872)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000200403 | Institutional Class | MDFIX           |

## Nport-Ex

---

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| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | 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 | 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 | PRICE_ID | PRICINGMETHOD |
| 127 | Matisse Discounted Bond CEF | BTT | BlackRock Municipal | 2030 Target Term Tru |  | 09257P105 |  | UNGROUPED SECURITIES |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 22.70 |  |  |  |  |  | BlackRock Municipal | 2030 Target Term Tru |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 81562.00 | 1692511.99 | 1692511.99 | 1851457.40 | 1851457.40 | 158945.41 | 158945.41 | 0.00 | False | 0.00 | N/A | 3.49 | 3.47 | 3.49 | 0.00 |  |  | BTT<br> N | MP |
| 127 | Matisse Discounted Bond CEF | FSSL | FS Specialty Lending | Fund |  | 644323107 |  | UNGROUPED SECURITIES |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 12.51 |  |  |  |  |  | FS Specialty Lending | Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 160000.00 | 2115429.96 | 2115429.96 | 2001600.00 | 2001600.00 | -113829.96 | -113829.96 | 0.00 | False | 0.00 | N/A | 3.78 | 3.75 | 3.78 | 0.00 |  |  | FSSL<br> N | MP |
| 127 | Matisse Discounted Bond CEF | PCQ | PIMCO California Mun | icipal Income Fund |  | 72200N106 |  | UNGROUPED SECURITIES |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 8.58 |  |  |  |  |  | PIMCO California Mun | icipal Income Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 588502.00 | 5162824.68 | 5162824.68 | 5049347.16 | 5049347.16 | -113477.52 | -113477.52 | 0.00 | False | 0.00 | N/A | 9.53 | 9.47 | 9.52 | 0.00 |  |  | PCQ<br> N | MP |
| 127 | Matisse Discounted Bond CEF | PNI | PIMCO New York Munic | ipal Income Fund II |  | 72200Y102 |  | UNGROUPED SECURITIES |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 6.85 |  |  |  |  |  | PIMCO New York Munic | ipal Income Fund II |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 219029.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 618726.00 | 4537973.56 | 4537973.56 | 4238273.10 | 4238273.10 | -299700.46 | -299700.46 | 5.17 | False | 0.00 | N/A | 8.00 | 7.95 | 7.99 | 0.00 |  |  | PNI<br> N | MP |
| 127 | Matisse Discounted Bond CEF | MUC | BlackRock MuniHoldin | gs California Qualit |  | 09254L107 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 10.40 |  |  |  |  |  | BlackRock MuniHoldin | gs California Qualit |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 33562.20 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 78600.00 | 855384.69 | 855384.69 | 817440.00 | 817440.00 | -37944.69 | -37944.69 | 4.11 | False | 0.00 | N/A | 1.54 | 1.53 | 1.54 | 0.00 |  | 549300LRIF3NWCU26A80 | MUC<br> N | MP |
| 127 | Matisse Discounted Bond CEF | MYN | BlackRock MuniYield | New York Quality Fun |  | 09255E102 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 9.60 |  |  |  |  |  | BlackRock MuniYield | New York Quality Fun |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28639.02 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 71419.00 | 650830.19 | 650830.19 | 685622.40 | 685622.40 | 34792.21 | 34792.21 | 4.18 | False | 0.00 | N/A | 1.29 | 1.29 | 1.29 | 0.00 |  | 549300LRIF3NWCU26A80 | MYN | MP |
| 127 | Matisse Discounted Bond CEF | BGX | Blackstone/GSO Long- | Short Credit Income |  | 09257D102 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 10.90 |  |  |  |  |  | Blackstone/GSO Long- | Short Credit Income |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 211820.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 170000.00 | 1899880.18 | 1899880.18 | 1853000.00 | 1853000.00 | -46880.18 | -46880.18 | 11.43 | False | 0.00 | N/A | 3.50 | 3.48 | 3.50 | 0.00 |  |  | BGX<br> N | MP |
| 127 | Matisse Discounted Bond CEF | BWG | BRANDYWINE GLOBAL | INCO |  | 10537L104 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 7.67 |  |  |  |  |  | BRANDYWINE GLOBAL | INCO |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 142948.68 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 145866.00 | 1482716.30 | 1482716.30 | 1118792.22 | 1118792.22 | -363924.08 | -363924.08 | 12.78 | False | 0.00 | N/A | 2.11 | 2.10 | 2.11 | 0.00 |  |  | BWG<br> N | MP |
| 127 | Matisse Discounted Bond CEF | EFT | Eaton Vance Floating | Rate Income Trust |  | 278279104 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 10.73 |  |  |  |  |  | Eaton Vance Floating | Rate Income Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 4127.00 | 42996.33 | 42996.33 | 44282.71 | 44282.71 | 1286.38 | 1286.38 | 0.00 | False | 0.00 | N/A | 0.08 | 0.08 | 0.08 | 0.00 |  |  | EFT<br> N | MP |
| 127 | Matisse Discounted Bond CEF | EVF | Eaton Vance Senior | Income Trust |  | 27826S103 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 4.99 |  |  |  |  |  | Eaton Vance Senior | Income Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13323.07 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 27527.00 | 135412.74 | 135412.74 | 137359.73 | 137359.73 | 1946.99 | 1946.99 | 9.70 | False | 0.00 | N/A | 0.26 | 0.26 | 0.26 | 0.00 |  |  | EVF<br> N | MP |
| 127 | Matisse Discounted Bond CEF | VVR | Invesco Senior | Income Trust |  | 46131H107 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 1/0/1900 |  |  | 3.22 |  |  |  |  |  | Invesco Senior | Income Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 299400.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 600000.00 | 1939296.02 | 1939296.02 | 1932000.00 | 1932000.00 | -7296.02 | -7296.02 | 15.50 | False | 0.00 | N/A | 3.64 | 3.62 | 3.64 | 0.00 |  |  | VVR<br> N | MP |
| 127 | Matisse Discounted Bond CEF | CXE | MFS High Income Muni | cipal Trust |  | 59318D104 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 3.71 |  |  |  |  |  | MFS High Income Muni | cipal Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12717.66 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 73090.00 | 261296.75 | 261296.75 | 271163.90 | 271163.90 | 9867.15 | 9867.15 | 4.69 | False | 0.00 | N/A | 0.51 | 0.51 | 0.51 | 0.00 |  | 549300V040JZX5S66Z78 | CXE<br> N | MP |
| 127 | Matisse Discounted Bond CEF | CMU | MFS High Yield Munic | ipal Trust |  | 59318E102 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 3.58 |  |  |  |  |  | MFS High Yield Munic | ipal Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13467.40 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 100503.00 | 347496.32 | 347496.32 | 359800.74 | 359800.74 | 12304.42 | 12304.42 | 3.74 | False | 0.00 | N/A | 0.68 | 0.67 | 0.68 | 0.00 |  | 549300V040JZX5S66Z78 | CMU<br> N | MP |
| 127 | Matisse Discounted Bond CEF | CXH | MFS Investment Grade | Municipal Trust |  | 59318B108 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 7.99 |  |  |  |  |  | MFS Investment Grade | Municipal Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13199.45 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 47998.00 | 373113.35 | 373113.35 | 383504.02 | 383504.02 | 10390.67 | 10390.67 | 3.44 | False | 0.00 | N/A | 0.72 | 0.72 | 0.72 | 0.00 |  | 549300V040JZX5S66Z78 | CXH<br> N | MP |
| 127 | Matisse Discounted Bond CEF | MFM | MFS Municipal Income | Trust |  | 552738106 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 5.39 |  |  |  |  |  | MFS Municipal Income | Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7210.45 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 27412.00 | 138978.84 | 138978.84 | 147750.68 | 147750.68 | 8771.84 | 8771.84 | 4.88 | False | 0.00 | N/A | 0.28 | 0.28 | 0.28 | 0.00 |  | 549300V040JZX5S66Z78 | MFM<br> N | MP |
| 127 | Matisse Discounted Bond CEF | NBH | Neuberger Berman Mun | icipal Fund Inc |  | 64124P101 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 10.15 |  |  |  |  |  | Neuberger Berman Mun | icipal Fund Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 63193.50 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 135900.00 | 1623747.63 | 1623747.63 | 1379385.00 | 1379385.00 | -244362.63 | -244362.63 | 4.58 | False | 0.00 | N/A | 2.60 | 2.59 | 2.60 | 0.00 |  | 549300XIWEKOTC8HO652 | NBH<br> N | MP |
| 127 | Matisse Discounted Bond CEF | JQC | Nuveen Credit | Strategies Income |  | 67073D102 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 4.87 |  |  |  |  |  | Nuveen Credit | Strategies Income |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 187423.52 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 314469.00 | 1529773.80 | 1529773.80 | 1531464.03 | 1531464.03 | 1690.23 | 1690.23 | 12.24 | False | 0.00 | N/A | 2.89 | 2.87 | 2.89 | 0.00 |  |  | JQC<br> N | MP |
| 127 | Matisse Discounted Bond CEF | JFR | Nuveen Floating Rate | Income Fund |  | 67072T108 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 7.52 |  |  |  |  |  | Nuveen Floating Rate | Income Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 236750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 250000.00 | 1830825.00 | 1830825.00 | 1880000.00 | 1880000.00 | 49175.00 | 49175.00 | 12.59 | False | 0.00 | N/A | 3.55 | 3.53 | 3.55 | 0.00 |  |  | JFR<br> N | MP |
| 127 | Matisse Discounted Bond CEF | NQP | Nuveen Pennsylvania | Quality Municipal In |  | 670972108 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 11.93 |  |  |  |  |  | Nuveen Pennsylvania | Quality Municipal In |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12226.20 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 34440.00 | 360363.70 | 360363.70 | 410869.20 | 410869.20 | 50505.50 | 50505.50 | 2.98 | False | 0.00 | N/A | 0.78 | 0.77 | 0.78 | 0.00 |  |  | NQP<br> N | MP |
| 127 | Matisse Discounted Bond CEF | RFMZ | RiverNorth Flexible | Municipal Income Fun |  | 76883Y107 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 12.65 |  |  |  |  |  | RiverNorth Flexible | Municipal Income Fun |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 51059.22 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 49190.00 | 617427.67 | 617427.67 | 622253.50 | 622253.50 | 4825.83 | 4825.83 | 8.21 | False | 0.00 | N/A | 1.17 | 1.17 | 1.17 | 0.00 |  | 549300U301TLYWQNC025 | RFMZ<br> N | MP |
| 127 | Matisse Discounted Bond CEF | FSCO | The FS Credit | Opportunities Corp |  | 30290Y101 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 5.10 |  |  |  |  |  | The FS Credit | Opportunities Corp |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 261990.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 410000.00 | 2468332.72 | 2468332.72 | 2091000.00 | 2091000.00 | -377332.72 | -377332.72 | 12.53 | False | 0.00 | N/A | 3.94 | 3.92 | 3.94 | 0.00 |  |  | FSCO<br> N | MP |
| 127 | Matisse Discounted Bond CEF | WIA | Western Asset | Securities & Income |  | 95766Q106 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 8.08 |  |  |  |  |  | Western Asset | Securities & Income |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 98413.39 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 53254.00 | 428180.54 | 428180.54 | 430292.32 | 430292.32 | 2111.78 | 2111.78 | 22.87 | False | 0.00 | N/A | 0.81 | 0.81 | 0.81 | 0.00 |  |  | WIA<br> N | MP |
| 127 | Matisse Discounted Bond CEF | WIW | Western Asset | Opp & Income Fund |  | 95766R104 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 8.46 |  |  |  |  |  | Western Asset | Opp & Income Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 207000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 230000.00 | 2189332.61 | 2189332.61 | 1945800.00 | 1945800.00 | -243532.61 | -243532.61 | 10.64 | False | 0.00 | N/A | 3.67 | 3.65 | 3.67 | 0.00 |  |  | WIW<br> N | MP |
| 127 | Matisse Discounted Bond CEF | SBI | WESTERN ASSET | INTERMEDIATE |  | 958435109 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 7.68 |  |  |  |  |  | WESTERN ASSET | INTERMEDIATE |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1202.63 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 4147.00 | 37477.92 | 37477.92 | 31848.96 | 31848.96 | -5628.96 | -5628.96 | 3.78 | False | 0.00 | N/A | 0.06 | 0.06 | 0.06 | 0.00 |  |  | SBI<br> N | MP |
| 127 | Matisse Discounted Bond CEF | XFLT | XAI Octagon Floating | Rate Alternative In |  | 98400T304 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 17.18 |  |  |  |  |  | XAI Octagon Floating | Rate Alternative In |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 114696.00 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 118000.00 | 2811702.68 | 2811702.68 | 2027240.00 | 2027240.00 | -784462.68 | -784462.68 | 5.66 | False | 0.00 | N/A | 3.82 | 3.80 | 3.82 | 0.00 |  |  | XFLT<br> N | MP |
| 127 | Matisse Discounted Bond CEF | VFL | DELAWARE INV NATL | MUNI FUND |  | 24610T108 | 1064 | Investment Companies |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 9.96 |  |  |  |  |  | DELAWARE INV NATL | MUNI FUND |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 79135.93 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 174693.00 | 1704407.41 | 1704407.41 | 1739942.28 | 1739942.28 | 35534.87 | 35534.87 | 4.55 | False | 0.00 | N/A | 3.28 | 3.26 | 3.28 | 0.00 |  |  | VFL<br> N | MP |
| 127 | Matisse Discounted Bond CEF | FMN | Federated Hermes Pre | mier Municipal Incom |  | 31423P108 | 1080 | Municipal |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 10.93 |  |  |  |  |  | Federated Hermes Pre | mier Municipal Incom |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 52154.83 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 117731.00 | 1256153.02 | 1256153.02 | 1286799.83 | 1286799.83 | 30646.81 | 30646.81 | 4.05 | False | 0.00 | N/A | 2.43 | 2.41 | 2.43 | 0.00 |  | R05X5UQ874RGFF7HHD84 | FMN | MP |
| 127 | Matisse Discounted Bond CEF | FIGXX | Fidelity Investments | Money Market Funds |  | 316175108 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 4/1/2026 |  |  | 100.00 |  |  |  |  |  | Fidelity Investments | Money Market Funds |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 591423.27 | L<br> N |  |  | 3/31/2026<br> C |  | 127;USD | USD | 16736778.44 | 16736778.44 | 16736778.44 | 16736778.44 | 16736778.44 | 0.00 | 0.00 | 3.53 | False | 3.52 |  | 31.58 | 31.39 | 31.57 | 0.00 |  |  | FIGXX<br> N | AC |

---

## 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:** Matisse Discounted Bond CEF Strategy

- **b. EDGAR series identifier (if any):** S000061872

- **c. LEI of Series:** 549300VDRUKECI4KMZ43

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $53310890.20

**Total Liabilities:** $298420.95

**Net Assets:** $53012469.25

**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 C000200403 | 0.78%                | -1.43%               | -0.76%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $110359.97               | $126961.68                                 |
| Month 2  | $-2010.33                | $-1036404.53                               |
| Month 3  | $14905.59                | $-667027.08                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Blackstone/GSO Long- | CLOSED-E | CUSIP: 09257D102<br>LEI: 549300SM8M5F2TV58W35 | Long             | EC               | CORP              | US        |    170000 | NS      | $1853000.00   | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Municipal  | CLOSED-E | CUSIP: 09257P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81562 | NS      | $1851457.40   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BRANDYWINE GLOBAL    | CLOSED-E | CUSIP: 10537L104<br>LEI: 549300P4CDQCJBGI0833 | Long             | EC               | CORP              | US        |    145866 | NS      | $1118792.22   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS High Yield Munic | CLOSED-E | CUSIP: 59318E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100503 | NS      | $359800.74    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS High Income Muni | CLOSED-E | CUSIP: 59318D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73090 | NS      | $271163.90    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Investment Grade | CLOSED-E | CUSIP: 59318B108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47998 | NS      | $383504.02    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Floating | CLOSED-E | CUSIP: 278279104<br>LEI: HQOIMOIFYDO5NKVU2640 | Long             | EC               | CORP              | US        |      4127 | NS      | $44282.71     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Senior   | CLOSED-E | CUSIP: 27826S103<br>LEI: F34RFVU0FGX8OM0KE928 | Long             | EC               | CORP              | US        |     27527 | NS      | $137359.73    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Pre | CLOSED-E | CUSIP: 31423P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    117731 | NS      | $1286799.83   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| The FS Credit        | CLOSED-E | CUSIP: 30290Y101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    410000 | NS      | $2091000.00   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| FS Specialty Lending | CLOSED-E | CUSIP: 644323107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    160000 | NS      | $2001600.00   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Floating Rate | CLOSED-E | CUSIP: 67072T108<br>LEI: HJXCPP3KYE3BVU373P27 | Long             | EC               | CORP              | US        |    250000 | NS      | $1880000.00   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Credit        | CLOSED-E | CUSIP: 67073D102<br>LEI: W4CSTD4RDGQSJ4FOVO30 | Long             | EC               | CORP              | US        |    314469 | NS      | $1531464.03   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Municipal Income | CLOSED-E | CUSIP: 552738106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27412 | NS      | $147750.68    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniHoldin | CLOSED-E | CUSIP: 09254L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78600 | NS      | $817440.00    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniYield  | CLOSED-E | CUSIP: 09255E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71419 | NS      | $685622.40    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman Mun | CLOSED-E | CUSIP: 64124P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    135900 | NS      | $1379385.00   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Pennsylvania  | CLOSED-E | CUSIP: 670972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34440 | NS      | $410869.20    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO California Mun | CLOSED-E | CUSIP: 72200N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    588502 | NS      | $5049347.16   | 9.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO New York Munic | CLOSED-E | CUSIP: 72200Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    618726 | NS      | $4238273.10   | 7.99%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Flexible  | CLOSED-E | CUSIP: 76883Y107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49190 | NS      | $622253.50    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ASSET        | CLOSED-E | CUSIP: 958435109<br>LEI: 5493000MG5MROBD48K57 | Long             | EC               | CORP              | US        |      4147 | NS      | $31848.96     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DELAWARE INV NATL    | CLOSED-E | CUSIP: 24610T108<br>LEI: NIC7ULNUGCUI836YP119 | Long             | EC               | CORP              | US        |    174693 | NS      | $1739942.28   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Senior       | CLOSED-E | CUSIP: 46131H107<br>LEI: 549300C38VE5Y5R75E56 | Long             | EC               | CORP              | US        |    600000 | NS      | $1932000.00   | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset        | CLOSED-E | CUSIP: 95766Q106<br>LEI: 549300BKG7Y2MQAORR48 | Long             | EC               | CORP              | US        |     53254 | NS      | $430292.32    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset        | CLOSED-E | CUSIP: 95766R104<br>LEI: 549300Z3DNF4FJBJ4A87 | Long             | EC               | CORP              | US        |    230000 | NS      | $1945800.00   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| XAI Octagon Floating | CLOSED-E | CUSIP: 98400T304<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118000 | NS      | $2027240.00   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Investments | MONEYMKT | CUSIP: 316175108<br>LEI: 6X064LF7Y6B4DKF2GZ26 | Long             | STIV             |  | US        |  16736778 | NS      | $16736778.44  | 31.57%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-19

**Name of Applicant:** Starboard Investment Trust

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

**Title:** Principal Accounting Officer/Principal Financial Officer