# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-26-004264
**Filing Date:** 2026-3
**Character Count:** 61189
**Document Hash:** a5029c4ff6b6b5cb26212db6949083b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-004264.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0000910472-26-004264

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260326

**PERIOD START**: 20261031

**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:** 26799926

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Redwood AlphaFactor Tactical International Fund (Series ID: S000059550)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000195030 | Redwood AlphaFactor Tactical International Fund Class I | RWILX           |
| C000195031 | Redwood AlphaFactor Tactical International Fund Class N | RWINX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **REDWOOD MANAGED VOLATILITY FUND** | **REDWOOD MANAGED VOLATILITY FUND** | **REDWOOD MANAGED VOLATILITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **CLOSED END FUND — 13.1%** |  |
|  | **REAL ESTATE - 13.1%** |  |
| 422314 | Redwood Real Estate Income Fund, Class I<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $10604302 |
|  | **TOTAL CLOSED END FUND (Cost $10,557,850)** | &nbsp;&nbsp; 10604302 |
|  | **OPEN END FUNDS — 84.1%** |  |
|  | **FIXED INCOME - 84.1%** |  |
| 1511554 | American High-Income Trust, Class F-3 | &nbsp;&nbsp;&nbsp; 14994617 |
| 2086868 | Blackrock Series Fund V-BlackRock High Yield Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 15046317 |
| 1432198 | Goldman Sachs High Yield Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 8177852 |
| 2270768 | JPMorgan High Yield Fund, Class I | &nbsp;&nbsp;&nbsp; 14941656 |
| 2347388 | Lord Abbett High Yield Fund, Class I | &nbsp;&nbsp;&nbsp; 15070231 |
| 32 | MainStay MacKay High Yield Corporate Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 166 |
| 2216 | Principal High Yield Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 14872 |
| 7681 | Vanguard High-Yield Corporate Fund, Admiral Class | &nbsp;&nbsp;&nbsp; 42631 |
|  |  | &nbsp;&nbsp; 68288342 |
|  | **TOTAL OPEN END FUNDS (Cost $66,465,586)** | &nbsp;&nbsp; 68288342 |
|  | **SHORT-TERM INVESTMENT — 1.5%** |  |
|  | **MONEY MARKET FUND - 1.5%** |  |
| 1197222 | Goldman Sachs Financial Square Government Fund, Administration Class, 3.35%<sup>(b)</sup> (Cost $1,197,222) | &nbsp;&nbsp;&nbsp; 1197222 |
|  | **TOTAL INVESTMENTS - 98.7% (Cost $78,220,658)** | &nbsp;&nbsp;&nbsp; $80089866 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.3%** | &nbsp;&nbsp; 1079588 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $81169454 |
| <sup>(a)</sup> Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $10,604,302 representing 13.1% of net assets. | <sup>(a)</sup> Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $10,604,302 representing 13.1% of net assets. | <sup>(a)</sup> Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $10,604,302 representing 13.1% of net assets. |
| <sup>(b)</sup> Rate disclosed is the seven day effective yield as of January 31, 2026. | <sup>(b)</sup> Rate disclosed is the seven day effective yield as of January 31, 2026. | <sup>(b)</sup> Rate disclosed is the seven day effective yield as of January 31, 2026. |

---

---

| |
|:---|
| **REDWOOD MANAGED VOLATILITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS<sup>(c)</sup>** | **TOTAL RETURN SWAPS<sup>(c)</sup>** | **TOTAL RETURN SWAPS<sup>(c)</sup>** | | | | |
| **Security** | **Counterparty** | **Number of Shares** | **Notional Value** | **Interest Rate Payable** | **Termination Date** | **Value/Unrealized Appreciation** |
| Invesco High Yield Municipal Fund | Barclays | 13669 | &nbsp;&nbsp;&nbsp;$113592 | &nbsp;&nbsp;&nbsp;SOFR + 175 bps | &nbsp;&nbsp;&nbsp;4/20/2026 | &nbsp;&nbsp;&nbsp; $(137) |
| Nuveen High Yield Municipal Bond Fund | Barclays | 7914 | &nbsp;&nbsp;&nbsp; 113170 | &nbsp;&nbsp;&nbsp;SOFR + 175 bps | &nbsp;&nbsp;&nbsp;4/20/2026 | &nbsp;&nbsp;&nbsp; 79 |
| **TOTAL** | **TOTAL** | **TOTAL** | **TOTAL** |  |  | &nbsp;&nbsp;&nbsp; **$(58)** |

---

---

| | |
|:---|:---|
| SOFR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Secured Overnight Financing Rate |

---

<sup>(c)</sup> The swaps provide exposure to the total returns on the securities that are calculated on a daily basis. Under the terms of the swaps, the Adviser has the ability to periodically adjust the notional level of the swaps. In addition, the Fund will receive the total return on the securities, including dividends and provide a fee to the counterparty. Each total return swap pays monthly.

---

| | | |
|:---|:---|:---|
| **REDWOOD MANAGED MUNICIPAL INCOME FUND** | **REDWOOD MANAGED MUNICIPAL INCOME FUND** | **REDWOOD MANAGED MUNICIPAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **CLOSED END FUND — 12.5%** |  |
|  | **REAL ESTATE - 12.5%** |  |
| 436280 | Redwood Real Estate Income Fund, Class I<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $10954991 |
|  | **TOTAL CLOSED END FUND (Cost $10,907,004)** | &nbsp;&nbsp; 10954991 |
|  | **EXCHANGE-TRADED FUND — 0.0%<sup>(b)</sup>** |  |
|  | **FIXED INCOME - 0.0%<sup>(b)</sup>** |  |
| 23 | iShares High Yield Muni Active ETF | &nbsp;&nbsp;&nbsp; 1129 |
|  | **TOTAL EXCHANGE-TRADED FUND (Cost $1,098)** | &nbsp;&nbsp; 1129 |
|  | **OPEN END FUNDS — 85.7%** |  |
|  | **FIXED INCOME - 85.7%** |  |
| 132 | American Century High-Yield Municipal Fund, Class I | &nbsp;&nbsp;&nbsp; 1157 |
| 368142 | Delaware National High-Yield Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 3615156 |
| 1445249 | First Eagle Funds - First Eagle High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 11663159 |
| 565190 | Franklin High Yield Tax-Free Income Fund | &nbsp;&nbsp;&nbsp; 5058451 |
| 1057644 | Goldman Sachs High Yield Municipal Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 9613981 |
| 952479 | Invesco High Yield Municipal Fund, Class Y | &nbsp;&nbsp;&nbsp; 7905573 |
| 1431115 | Invesco Rochester Municipal Opportunities Fund, Class Y | &nbsp;&nbsp;&nbsp; 9431051 |
| 810678 | Lord Abbett High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 8649937 |
| 93 | MainStay MacKay High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 1094 |
| 144 | MFS Municipal High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 1072 |
| 924858 | Nuveen High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 13234712 |
| 115 | Nuveen Short Duration High Yield Municipal Bond, Class I | &nbsp;&nbsp;&nbsp; 1080 |
| 703384 | PIMCO High Yield Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 5908427 |
| 185 | Victory Pioneer High Income Municipal Fund | &nbsp;&nbsp;&nbsp; 1040 |
| 89 | Western Asset Municipal High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 1141 |
|  |  | &nbsp;&nbsp; 75087031 |
|  | **TOTAL OPEN END FUNDS (Cost $74,184,186)** | &nbsp;&nbsp; 75087031 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD MANAGED MUNICIPAL INCOME FUND** | **REDWOOD MANAGED MUNICIPAL INCOME FUND** | **REDWOOD MANAGED MUNICIPAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 0.1%** |  |
|  | **MONEY MARKET FUND - 0.1%** |  |
| 116392 | BlackRock Liquidity Funds MuniCash, Institutional Class, 1.48%<sup>(c)</sup> (Cost $116,404) | &nbsp;&nbsp;&nbsp; $116404 |
|  | **TOTAL INVESTMENTS - 98.3% (Cost $85,208,692)** | &nbsp;&nbsp;&nbsp; $86159555 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.7%** | &nbsp;&nbsp; 1524997 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $87684552 |

---

---

| | | |
|:---|:---|:---|
| ETF | ETF | - Exchange-Traded Fund |
| <sup>(a)</sup> | Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $10,954,991 representing 12.5% of net assets. | Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $10,954,991 representing 12.5% of net assets. |
| <sup>(b)</sup> | Percentage rounds to less than 0.1%. | Percentage rounds to less than 0.1%. |
| <sup>(c)</sup> | Rate disclosed is the seven day effective yield as of January 31, 2026. | Rate disclosed is the seven day effective yield as of January 31, 2026. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS<sup>(d)</sup>** | **TOTAL RETURN SWAPS<sup>(d)</sup>** | **TOTAL RETURN SWAPS<sup>(d)</sup>** | | | | |
| **Security** | **Counterparty** | **Number of Shares** | **Notional Value** | **Interest Rate Payable** | **Termination Date** | **Value/Unrealized Appreciation** |
| Invesco High Yield Municipal Fund | Barclays | 16530 | &nbsp;&nbsp;&nbsp;$137363 | &nbsp;&nbsp;&nbsp;SOFR + 175 bps | &nbsp;&nbsp;&nbsp;4/20/2026 | &nbsp;&nbsp;&nbsp; $(165) |
| Nuveen High Yield Municipal Bond Fund | Barclays | 10919 | &nbsp;&nbsp;&nbsp; 156141 | &nbsp;&nbsp;&nbsp;SOFR + 175 bps | &nbsp;&nbsp;&nbsp;4/20/2026 | &nbsp;&nbsp;&nbsp; 109 |
| **TOTAL** | **TOTAL** | **TOTAL** | **TOTAL** |  |  | &nbsp;&nbsp;&nbsp; **$(56)** |

---

SOFR - Secured Overnight Financing Rate

<sup>(d)</sup> The swaps provide exposure to the total returns on the securities that are calculated on a daily basis. Under the terms of the swaps, the Adviser has the ability to periodically adjust the notional level of the swaps. In addition, the Fund will receive the total return on the securities, including dividends and provide a fee to the counterparty. Each total return swap pays monthly.

---

| | | |
|:---|:---|:---|
| **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **CLOSED END FUND — 12.5%** |  |
|  | **United States - 12.5%** |  |
| 466078 | Redwood Real Estate Income Fund, Class I<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $11703208 |
|  | **TOTAL CLOSED END FUND (Cost $11,651,942)** | &nbsp;&nbsp; 11703208 |
|  | **COMMON STOCKS — 81.5%** |  |
|  | **Austria - 1.0%** |  |
| 12786 | Verbund A.G. | &nbsp;&nbsp;&nbsp; 939389 |
|  | **Canada - 9.3%** |  |
| 53105 | ARC Resources Ltd. | &nbsp;&nbsp;&nbsp; 985557 |
| 30183 | Canadian Natural Resources Ltd. | &nbsp;&nbsp;&nbsp; 1122306 |
| 8139 | Canadian Tire Corp Ltd. | &nbsp;&nbsp;&nbsp; 1001333 |
| 11273 | CGI, Inc. | &nbsp;&nbsp;&nbsp; 966165 |
| 29058 | Empire Company Ltd., Class A | &nbsp;&nbsp;&nbsp; 949230 |
| 41990 | Kinross Gold Corporation | &nbsp;&nbsp;&nbsp; 1322335 |
| 24236 | Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp; 1281012 |
| 10834 | TFI International, Inc. | &nbsp;&nbsp;&nbsp; 1164295 |
|  |  | &nbsp;&nbsp; 8792233 |
|  | **Cayman Islands - 0.8%** |  |
| 7041 | PDD Holdings, Inc. - ADR<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 711493 |
|  | **Denmark - 3.0%** |  |
| 451 | AP Moller - Maersk A/S, Class B | &nbsp;&nbsp;&nbsp; 1118856 |
| 3361 | Genmab A/S<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1078670 |
| 7097 | Pandora A/S | &nbsp;&nbsp;&nbsp; 573365 |
|  |  | &nbsp;&nbsp; 2770891 |
|  | **Finland - 2.3%** |  |
| 21546 | Elisa OYJ | &nbsp;&nbsp;&nbsp; 949537 |
| 29487 | Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp; 1195986 |
|  |  | &nbsp;&nbsp; 2145523 |
|  | **France - 4.1%** |  |
| 34033 | Dassault Systemes S.E. | &nbsp;&nbsp;&nbsp; 937199 |
| 5614 | Legrand S.A. | &nbsp;&nbsp;&nbsp; 898826 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 81.5% (Continued)** |  |
|  | **France - 4.1% (Continued)** |  |
| 3994 | Sartorius Stedim Biotech | &nbsp;&nbsp;&nbsp; $891924 |
| 15429 | TotalEnergies S.E. | &nbsp;&nbsp;&nbsp; 1118932 |
|  |  | &nbsp;&nbsp; 3846881 |
|  | **Germany - 7.8%** |  |
| 17385 | Brenntag S.E. | &nbsp;&nbsp;&nbsp; 1059759 |
| 12765 | Continental A.G. | &nbsp;&nbsp;&nbsp; 1008847 |
| 20965 | Deutsche Post A.G. | &nbsp;&nbsp;&nbsp; 1176546 |
| 29579 | Deutsche Telekom A.G. | &nbsp;&nbsp;&nbsp; 988188 |
| 17860 | Fresenius Medical Care A.G. | &nbsp;&nbsp;&nbsp; 802980 |
| 10377 | Knorr-Bremse A.G. 144A<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 1211594 |
| 14711 | Mercedes-Benz Group A.G. | &nbsp;&nbsp;&nbsp; 1008241 |
|  |  | &nbsp;&nbsp; 7256155 |
|  | **Ireland - 1.2%** |  |
| 32659 | Ryanair Holdings plc | &nbsp;&nbsp;&nbsp; 1108129 |
|  | **Israel - 2.4%** |  |
| 4925 | Check Point Software Technologies Ltd.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 884087 |
| 7177 | Nice Ltd.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 766575 |
| 7166 | Wix.com Ltd.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 622295 |
|  |  | &nbsp;&nbsp; 2272957 |
|  | **Italy - 1.0%** |  |
| 16444 | Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp; 903718 |
|  | **Japan - 18.5%** |  |
| 56190 | Aisin Corporation | &nbsp;&nbsp;&nbsp; 1003354 |
| 44492 | Bridgestone Corporation | &nbsp;&nbsp;&nbsp; 1001891 |
| 154888 | ENEOS Holdings, Inc. | &nbsp;&nbsp;&nbsp; 1299557 |
| 30220 | Hitachi Ltd. | &nbsp;&nbsp;&nbsp; 1046829 |
| 32097 | Makita Corporation | &nbsp;&nbsp;&nbsp; 1109775 |
| 177437 | Mitsubishi Chemical Group Corporation | &nbsp;&nbsp;&nbsp; 1169446 |
| 40697 | Mitsubishi Corporation | &nbsp;&nbsp;&nbsp; 1077368 |
| 49358 | Nexon Company Ltd. | &nbsp;&nbsp;&nbsp; 1174613 |
| 406682 | Nissan Motor Company Ltd.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 991465 |
| 18186 | Otsuka Holdings Company Ltd. | &nbsp;&nbsp;&nbsp; 1085905 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 81.5% (Continued)** |  |
|  | **Japan - 18.5% (Continued)** |  |
| 19754 | Recruit Holdings Company Ltd. | &nbsp;&nbsp;&nbsp; $1033893 |
| 45296 | SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp; 1019703 |
| 10585 | SCREEN Holdings Company Ltd. | &nbsp;&nbsp;&nbsp; 1344652 |
| 60389 | Shionogi & Company Ltd. | &nbsp;&nbsp;&nbsp; 1238514 |
| 45390 | Subaru Corporation | &nbsp;&nbsp;&nbsp; 975773 |
| 335989 | Z Holdings Corporation | &nbsp;&nbsp;&nbsp; 861020 |
|  |  | &nbsp;&nbsp; 17433758 |
|  | **Netherlands - 5.0%** |  |
| 4009 | Airbus S.E. | &nbsp;&nbsp;&nbsp; 919522 |
| 26440 | JDE Peet's N.V. | &nbsp;&nbsp;&nbsp; 991500 |
| 23176 | Koninklijke Ahold Delhaize N.V. | &nbsp;&nbsp;&nbsp; 905931 |
| 207965 | Koninklijke KPN N.V. | &nbsp;&nbsp;&nbsp; 1013188 |
| 24301 | Randstad N.V. | &nbsp;&nbsp;&nbsp; 867769 |
|  |  | &nbsp;&nbsp; 4697910 |
|  | **Norway - 3.6%** |  |
| 40102 | Equinor ASA | &nbsp;&nbsp;&nbsp; 1070196 |
| 63397 | Telenor ASA | &nbsp;&nbsp;&nbsp; 1066468 |
| 26173 | Yara International ASA | &nbsp;&nbsp;&nbsp; 1204530 |
|  |  | &nbsp;&nbsp; 3341194 |
|  | **Singapore - 1.1%** |  |
| 73917 | Singapore Exchange Ltd. | &nbsp;&nbsp;&nbsp; 1024333 |
|  | **Spain - 4.0%** |  |
| 36070 | Aena SME S.A. 144A<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 1122054 |
| 12608 | Amadeus IT Group S.A. 144A<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 846614 |
| 27192 | Endesa S.A. | &nbsp;&nbsp;&nbsp; 1002608 |
| 185660 | Telefonica S.A. | &nbsp;&nbsp;&nbsp; 751932 |
|  |  | &nbsp;&nbsp; 3723208 |
|  | **Sweden - 4.1%** |  |
| 13968 | Evolution A.B. 144A<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 907255 |
| 50846 | H & M Hennes & Mauritz A.B., Class B | &nbsp;&nbsp;&nbsp; 1017998 |
| 77284 | Hexagon A.B., Class B | &nbsp;&nbsp;&nbsp; 872779 |
| 95641 | Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp; 1037786 |
|  |  | &nbsp;&nbsp; 3835818 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** | **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 81.5% (Continued)** |  |
|  | **Switzerland - 6.8%** |  |
| 4908 | Kuehne + Nagel International A.G. | &nbsp;&nbsp;&nbsp; $1134618 |
| 8389 | Logitech International S.A. | &nbsp;&nbsp;&nbsp; 723212 |
| 7874 | Novartis A.G. | &nbsp;&nbsp;&nbsp; 1167552 |
| 2692 | Schindler Holding A.G. | &nbsp;&nbsp;&nbsp; 1038492 |
| 1344 | Swisscom A.G. | &nbsp;&nbsp;&nbsp; 1101454 |
| 25326 | UBS Group A.G. | &nbsp;&nbsp;&nbsp; 1192255 |
|  |  | &nbsp;&nbsp; 6357583 |
|  | **United Kingdom - 5.5%** |  |
| 14264 | Ashtead Group plc | &nbsp;&nbsp;&nbsp; 914812 |
| 5861 | AstraZeneca plc | &nbsp;&nbsp;&nbsp; 1090702 |
| 166633 | BP plc | &nbsp;&nbsp;&nbsp; 1057517 |
| 41997 | GSK plc | &nbsp;&nbsp;&nbsp; 1078356 |
| 25575 | Shell plc | &nbsp;&nbsp;&nbsp; 977772 |
|  |  | &nbsp;&nbsp; 5119159 |
|  | **TOTAL COMMON STOCKS (Cost $71,759,438)** | &nbsp;&nbsp; 76280332 |
|  | **SHORT-TERM INVESTMENT — 1.7%** |  |
|  | **MONEY MARKET FUND - 1.7%** |  |
| 1563083 | Goldman Sachs Financial Square Government Fund, Administration Class, 3.35%<sup>(d)</sup> (Cost $1,563,083) | &nbsp;&nbsp;&nbsp; 1563083 |
|  | **TOTAL INVESTMENTS - 95.7% (Cost $84,974,463)** | &nbsp;&nbsp;&nbsp; $89546623 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 4.3%** | &nbsp;&nbsp; 4005733 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $93552356 |

---

A.B. - Aktiebolag

Abp - Publikt Aktiebolag

ADR - American Depositary Receipt

A.G. - Aktiengesellschaft

A/S - Aksjeselskap

ASA - Allmennaksjeselskap

Ltd. - Limited Company

---

| |
|:---|
| **REDWOOD ALPHAFACTOR TACTICAL INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** |

---

---

| | |
|:---|:---|
| N.V. | - Naamioze Vennootschap |
| Oyj | - Julkinen osakeyhtiö |
| plc | - Public Limited Company |
| S.A. | - Société Anonyme |
| S.E. | - Societas Europea |
| SpA | - Società per azioni |

---

<sup>(a)</sup> Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $11,703,208 representing 12.5% of net assets.

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

<sup>(c)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933, as amended. 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 Rule 144A securities is $4,087,517 or 4.4% of net assets.

<sup>(d)</sup> Rate disclosed is the seven day effective yield as of January 31, 2026.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS<sup>(e)</sup>** | **TOTAL RETURN SWAPS<sup>(e)</sup>** | **TOTAL RETURN SWAPS<sup>(e)</sup>** | | | | |
| **Security** | **Counterparty** | **Number of Shares** | **Notional Value** | **Interest Rate Payable** | **Termination Date** | **Value/Unrealized Depreciation** |
| iShares Core MSCI Emerging Markets ETF | &nbsp;&nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;&nbsp;337777 | &nbsp;&nbsp;&nbsp;$22705370 | &nbsp;&nbsp;&nbsp;OBFR + 80 bps | &nbsp;&nbsp;&nbsp;11/3/2026 | &nbsp;&nbsp;&nbsp; $1803729 |
| **TOTAL** | **TOTAL** | **TOTAL** | **TOTAL** |  |  | &nbsp;&nbsp;&nbsp; **$1803729** |

---

OBFR - Overnight Bank Funding Rate

<sup>(e)</sup> The swaps provide exposure to the total returns on the securities that are calculated on a daily basis. Under the terms of the swaps, the Adviser has the ability to periodically adjust the notional level of the swaps. In addition, the Fund will receive the total return on the securities, including dividends and provide a fee to the counterparty. Each total return swap pays monthly.

---

| | | |
|:---|:---|:---|
| **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** | | **Fair Value** |
|  | **CLOSED END FUND — 13.1%** |  |
|  | **REAL ESTATE - 13.1%** |  |
| 627131 | Redwood Real Estate Income Fund, Class I<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $15747264 |
|  | **TOTAL CLOSED END FUND (Cost $15,678,283)** | &nbsp;&nbsp; 15747264 |
|  | **COMMON STOCKS — 34.7%** |  |
|  | **ADVERTISING & MARKETING - 0.4%** |  |
| 6330 | Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp; 487663 |
|  | **AEROSPACE & DEFENSE - 0.5%** |  |
| 1014 | Lockheed Martin Corporation, Class B | &nbsp;&nbsp;&nbsp; 643099 |
|  | **ASSET MANAGEMENT - 0.4%** |  |
| 20295 | Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp; 540253 |
|  | **AUTOMOTIVE - 1.2%** |  |
| 34473 | Ford Motor Company | &nbsp;&nbsp;&nbsp; 478485 |
| 2373 | Tesla, Inc. | &nbsp;&nbsp;&nbsp; 1021363 |
|  |  | &nbsp;&nbsp; 1499848 |
|  | **BIOTECH & PHARMA - 1.6%** |  |
| 9312 | Bristol-Myers Squibb Company | &nbsp;&nbsp;&nbsp; 512626 |
| 4384 | Merck & Company, Inc. | &nbsp;&nbsp;&nbsp; 483424 |
| 17790 | Pfizer, Inc. | &nbsp;&nbsp;&nbsp; 470368 |
| 43126 | Viatris, Inc. | &nbsp;&nbsp;&nbsp; 564518 |
|  |  | &nbsp;&nbsp; 2030936 |
|  | **CABLE & SATELLITE - 0.4%** |  |
| 17105 | Comcast Corporation, Class A | &nbsp;&nbsp;&nbsp; 508874 |
|  | **CHEMICALS - 1.7%** |  |
| 1755 | Air Products and Chemicals, Inc. | &nbsp;&nbsp;&nbsp; 478238 |
| 19261 | Dow, Inc. | &nbsp;&nbsp;&nbsp; 530640 |
| 18779 | Mosaic Company (The) | &nbsp;&nbsp;&nbsp; 516423 |
| 4563 | PPG Industries, Inc. | &nbsp;&nbsp;&nbsp; 527619 |
|  |  | &nbsp;&nbsp; 2052920 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** | | **Fair Value** |
|  | **COMMON STOCKS — 34.7% (Continued)** |  |
|  | **CONTAINERS & PACKAGING - 0.4%** |  |
| 11584 | International Paper Company | &nbsp;&nbsp;&nbsp; $467067 |
|  | **E-COMMERCE DISCRETIONARY - 1.8%** |  |
| 8621 | Amazon.com, Inc. | &nbsp;&nbsp;&nbsp; 2063006 |
|  | **ELECTRIC UTILITIES - 1.9%** |  |
| 32737 | AES Corporation (The) | &nbsp;&nbsp;&nbsp; 479597 |
| 7322 | Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp; 440565 |
| 7769 | Edison International | &nbsp;&nbsp;&nbsp; 483854 |
| 6842 | Eversource Energy | &nbsp;&nbsp;&nbsp; 472987 |
| 5052 | Pinnacle West Capital Corporation | &nbsp;&nbsp;&nbsp; 472665 |
|  |  | &nbsp;&nbsp; 2349668 |
|  | **FOOD - 1.2%** |  |
| 25578 | Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp; 473449 |
| 19735 | Hormel Foods Corporation | &nbsp;&nbsp;&nbsp; 485678 |
| 18048 | The Kraft Heinz Company | &nbsp;&nbsp;&nbsp; 428460 |
|  |  | &nbsp;&nbsp; 1387587 |
|  | **GAMING REIT - 0.4%** |  |
| 15891 | VICI Properties, Inc. | &nbsp;&nbsp;&nbsp; 446219 |
|  | **HEALTH CARE FACILITIES & SERVICES - 0.4%** |  |
| 5719 | CVS Health Corporation | &nbsp;&nbsp;&nbsp; 426180 |
|  | **HEALTH CARE REIT - 0.8%** |  |
| 8493 | Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp; 464058 |
| 25146 | Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp; 433517 |
|  |  | &nbsp;&nbsp; 897575 |
|  | **INSURANCE - 0.7%** |  |
| 1678 | Berkshire Hathaway, Inc., Class B | &nbsp;&nbsp;&nbsp; 806329 |
|  | **INTERNET MEDIA & SERVICES - 5.4%** |  |
| 13765 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 4652569 |
| 13664 | Match Group, Inc. | &nbsp;&nbsp;&nbsp; 425634 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** | | **Fair Value** |
|  | **COMMON STOCKS — 34.7% (Continued)** |  |
|  | **INTERNET MEDIA & SERVICES - 5.4% (Continued)** |  |
| 1906 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; $1365649 |
|  |  | &nbsp;&nbsp; 6443852 |
|  | **LEISURE FACILITIES & SERVICES - 0.4%** |  |
| 2541 | Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp; 506548 |
|  | **LEISURE PRODUCTS - 0.4%** |  |
| 5541 | Hasbro, Inc. | &nbsp;&nbsp;&nbsp; 494867 |
|  | **MACHINERY - 0.9%** |  |
| 1346 | Snap-on, Inc. | &nbsp;&nbsp;&nbsp; 492784 |
| 6390 | Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp; 502637 |
|  |  | &nbsp;&nbsp; 995421 |
|  | **OIL & GAS PRODUCERS - 2.1%** |  |
| 18308 | APA Corporation | &nbsp;&nbsp;&nbsp; 483514 |
| 3037 | Chevron Corporation | &nbsp;&nbsp;&nbsp; 537245 |
| 4245 | EOG Resources, Inc. | &nbsp;&nbsp;&nbsp; 475992 |
| 16798 | Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp; 512171 |
| 6309 | ONEOK, Inc. | &nbsp;&nbsp;&nbsp; 499610 |
|  |  | &nbsp;&nbsp; 2508532 |
|  | **RETAIL - CONSUMER STAPLES - 0.4%** |  |
| 5017 | Target Corporation | &nbsp;&nbsp;&nbsp; 529143 |
|  | **RETAIL - DISCRETIONARY - 0.3%** |  |
| 5734 | Best Buy Company, Inc. | &nbsp;&nbsp;&nbsp; 373283 |
|  | **RETAIL REIT - 0.3%** |  |
| 7992 | Realty Income Corporation | &nbsp;&nbsp;&nbsp; 488791 |
|  | **SEMICONDUCTORS - 2.4%** |  |
| 3871 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; 1282462 |
| 8587 | Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp; 651925 |
| 6974 | Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp; 388870 |
| 2736 | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp; 589745 |
|  |  | &nbsp;&nbsp; 2913002 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** | | **Fair Value** |
|  | **COMMON STOCKS — 34.7% (Continued)** |  |
|  | **SOFTWARE - 2.4%** |  |
| 6715 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; $2889397 |
|  | **TECHNOLOGY HARDWARE - 3.5%** |  |
| 13251 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 3438370 |
| 21037 | Hewlett Packard Enterprise Company | &nbsp;&nbsp;&nbsp; 452717 |
| 18887 | HP, Inc. | &nbsp;&nbsp;&nbsp; 367163 |
|  |  | &nbsp;&nbsp; 4258250 |
|  | **TECHNOLOGY SERVICES - 0.4%** |  |
| 4108 | Paychex, Inc. | &nbsp;&nbsp;&nbsp; 423658 |
|  | **TELECOMMUNICATIONS - 0.8%** |  |
| 17728 | AT&T, Inc. | &nbsp;&nbsp;&nbsp; 464651 |
| 11211 | Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp; 499114 |
|  |  | &nbsp;&nbsp; 963765 |
|  | **TOBACCO & CANNABIS - 0.4%** |  |
| 7807 | Altria Group, Inc. | &nbsp;&nbsp;&nbsp; 483956 |
|  | **TRANSPORTATION & LOGISTICS - 0.4%** |  |
| 4789 | United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp; 508688 |
|  | **WHOLESALE - DISCRETIONARY - 0.4%** |  |
| 15438 | LKQ Corporation | &nbsp;&nbsp;&nbsp; 507138 |
|  | **TOTAL COMMON STOCKS (Cost $40,118,135)** | &nbsp;&nbsp; 41895515 |
|  | **EXCHANGE-TRADED FUNDS — 51.4%** |  |
|  | **EQUITY - 51.4%** |  |
| 296181 | iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp; 29837275 |
| 333109 | Schwab International Small-Cap Equity ETF | &nbsp;&nbsp;&nbsp; 16259050 |
| 105134 | Vanguard FTSE All World ex-US Small-Cap ETF | &nbsp;&nbsp;&nbsp; 16032935 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $49,819,803)** | &nbsp;&nbsp; 62129260 |

---

---

| | | |
|:---|:---|:---|
| **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** | **REDWOOD SYSTEMATIC MACRO TREND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| **Shares** | | **Fair Value** |
|  | **OPEN END FUNDS — 0.2%** | |
|  | **FIXED INCOME - 0.2%** | |
| 11633 | Nuveen California High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; $91199 |
| 6864 | Nuveen High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 98226 |
|  |  | &nbsp;&nbsp; 189425 |
|  | **TOTAL OPEN END FUNDS (Cost $237,492)** | &nbsp;&nbsp; 189425 |
|  | **SHORT-TERM INVESTMENT — 0.2%** |  |
|  | **MONEY MARKET FUND - 0.2%** |  |
| 230355 | Goldman Sachs Financial Square Government Fund, Administration Class, 3.35%<sup>(b)(c)</sup> (Cost $230,017) | &nbsp;&nbsp;&nbsp; 230355 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts<sup>(d)</sup>** |  | | | | |  |
|  | **EQUITY OPTIONS PURCHASED - 0.1%** | <br>**Broker/Counterparty** | <br>**Expiration Date** | <br>**Exercise Price** | <br>**Notional Value** | |
|  | **PUT OPTIONS PURCHASED - 0.1%** | **PUT OPTIONS PURCHASED - 0.1%** | **PUT OPTIONS PURCHASED - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | SPDR S&P 500 ETF Trust<sup>(e)</sup> | BTIG | 03/31/2026 | $500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$100000000 | &nbsp;&nbsp; 142000 |
|  | **TOTAL PUT OPTIONS PURCHASED (Cost $4,572,020)** | **TOTAL PUT OPTIONS PURCHASED (Cost $4,572,020)** | **TOTAL PUT OPTIONS PURCHASED (Cost $4,572,020)** |  |  |  |
|  | **TOTAL EQUITY OPTIONS PURCHASED (Cost $4,572,020)** | **TOTAL EQUITY OPTIONS PURCHASED (Cost $4,572,020)** | **TOTAL EQUITY OPTIONS PURCHASED (Cost $4,572,020)** |  |  | &nbsp;&nbsp; 142000 |
|  | **TOTAL INVESTMENTS - 99.7% (Cost $110,655,750)** | **TOTAL INVESTMENTS - 99.7% (Cost $110,655,750)** | **TOTAL INVESTMENTS - 99.7% (Cost $110,655,750)** |  |  | &nbsp;&nbsp;&nbsp; $120333819 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** |  |  | &nbsp;&nbsp; 309309 |
|  | **NET ASSETS - 100.0%** |  |  |  |  | &nbsp;&nbsp; $120643128 |

---

---

| | |
|:---|:---|
| EAFE | - Europe, Australasia and Far East |
| ETF | - Exchange-Traded Fund |
| FTSE | - Financial Times Stock Exchange |
| MSCI | - Morgan Stanley Capital International |
| REIT | - Real Estate Investment Trust |
| S&P | - Standard & Poor's |
| SPDR | - Standard & Poor's Depositary Receipt |

---

<sup>(a)</sup> Investment in affiliated issuer. Illiquid security. The total fair value of the security at January 31, 2026 was $15,747,264 representing 13.1% of net assets.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of January 31, 2026.

<sup>(c)</sup> All or a portion of the security is held in a separate collateral account for options contracts. The total fair value of collateral as of January 31, 2026 is $230,355.

<sup>(d)</sup> Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

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

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Two Roads Shared Trust

- **b. Investment Company Act file number:** 811-22718

- **c. CIK number of Registrant:** 0001552947

- **d. LEI of Registrant:** 549300REHU8QC2CK4V30

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 402-895-1600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Redwood AlphaFactor Tactical International Fund

- **b. EDGAR series identifier (if any):** S000059550

- **c. LEI of Series:** 549300KZNRX88K80NH13

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

- **a. Date of fiscal year-end:** 2026-10-31

- **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:** $116742297.70

**Total Liabilities:** $23189942.13

**Net Assets:** $93552355.57

**Cash Not Reported:** $1889999.85

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195030 | -0.72%               | 2.55%                | 4.01%                |
| Class ID C000195031 | -0.72%               | 2.55%                | 4.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10346.20                | $-190781.29                                |
| Month 2  | $68350.99                | $2058296.92                                |
| Month 3  | $279089.34               | $1646500.45                                |

**Designated Index Information**

- **Index Name:** MSCI/AC WORLD INDEX ex USA (Net)

- **Index Identifier:** 899901N

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ashtead Group PLC                                 | ASHTEAD GROUP           | CUSIP: G05320109<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |     14264 | NS      | $914811.89    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                            | BP PLC                  | CUSIP: G12793108<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |    166633 | NS      | $1057516.80   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                   | ASTRAZENECA PLC         | CUSIP: G0593M107<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      5861 | NS      | $1090702.10   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Limited                | CAN NATURAL RES         | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     30183 | NS      | $1122305.83   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Tire Corp Ltd.                           | Canadian Tire Corp Ltd  | CUSIP: 136681202<br>LEI: 549300RLHDA7VQYMUB14 | Long             | EC               | CORP              | CA        |      8139 | NS      | $1001333.17   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire Co Ltd.                                    | EMPIRE CO LTD A         | CUSIP: 291843407<br>LEI: 549300TX0ZUSTEF7C719 | Long             | EC               | CORP              | CA        |     29058 | NS      | $949229.85    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS INVESTOR TAX-EXE                    | GS-GOVT-ADM             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1563083 | PA      | $1563083.06   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                         | AIRBUS SE               | CUSIP: N0280G100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |      4009 | NS      | $919521.58    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AP Moller-Maersk                                  | AP MOLLER-B             | CUSIP: K0514G101<br>LEI: 549300D2K6PKKKXVNN73 | Long             | EC               | CORP              | DK        |       451 | NS      | $1118856.24   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Wartsila Oyj Abp                                  | WARTSILA OYJ ABP        | CUSIP: X98155116<br>LEI: 743700G7A9J1PHM3X223 | Long             | EC               | CORP              | FI        |     29487 | NS      | $1195986.01   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Genmab As                                         | GENMAB A/S              | CUSIP: K3967W102<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |      3361 | NS      | $1078669.59   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental AG                                    | CONTINENTAL AG          | CUSIP: D16212140<br>LEI: 529900A7YD9C0LLXM621 | Long             | EC               | CORP              | DE        |     12765 | NS      | $1008846.77   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                                  | DHL GROUP               | CUSIP: D19225107<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |     20965 | NS      | $1176546.25   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Verbund AG                                        | VERBUND AG              | CUSIP: A91460104<br>LEI: 5299006UDSEJCTTEJS30 | Long             | EC               | CORP              | AT        |     12786 | NS      | $939388.88    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Telenor ASA                                       | TELENOR ASA             | CUSIP: R21882106<br>LEI: 549300IM1QSBY4SLPM26 | Long             | EC               | CORP              | NO        |     63397 | NS      | $1066468.33   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                         | FRESENIUS MEDICA        | CUSIP: D2734Z107<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |     17860 | NS      | $802979.84    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Randstad N.V                                      | RANDSTAD NV             | CUSIP: N7291Y137<br>LEI: 7245009EAAUUQJ0U4T57 | Long             | EC               | CORP              | NL        |     24301 | NS      | $867769.34    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA - Empresa Nacional Electricidad         | ENDESA                  | CUSIP: E41222113<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |     27192 | NS      | $1002608.25   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                            | MERCEDES-BENZ GR        | CUSIP: D1668R123<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |     14711 | NS      | $1008240.86   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Swisscom AG                                       | SWISSCOM AG-REG         | CUSIP: H8398N104<br>LEI: 5493005SL9HHOXS3B739 | Long             | EC               | CORP              | CH        |      1344 | NS      | $1101454.08   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| H and M Hennes and Mauritz AB                     | HENNES & MAURI-B        | CUSIP: W41422101<br>LEI: 529900O5RR7R39FRDM42 | Long             | EC               | CORP              | SE        |     50846 | NS      | $1017997.64   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Elisa OYJ                                         | ELISA OYJ               | CUSIP: X1949T102<br>LEI: 743700TU2S3DXWGU7H32 | Long             | EC               | CORP              | FI        |     21546 | NS      | $949536.72    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica, S.A.                                  | TELEFONICA              | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |    185660 | NS      | $751931.81    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                               | DEUTSCHE TELEKOM        | CUSIP: D2035M136<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     29579 | NS      | $988188.37    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN N.V.                              | KPN (KONIN) NV          | CUSIP: N4297B146<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |    207965 | NS      | $1013188.12   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson (publ)            | ERICSSON LM-B           | CUSIP: W26049119<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |     95641 | NS      | $1037785.90   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Aisin Corp.                                       | AISIN CORP              | CUSIP: J00714105<br>LEI: 3538004IOK08PDY6I723 | Long             | EC               | CORP              | JP        |     56190 | NS      | $1003353.96   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LY Corporation                                    | LY CORP                 | CUSIP: J9894K105<br>LEI: 52990078MD2OL792YM35 | Long             | EC               | CORP              | JP        |    335989 | NS      | $861020.39    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp.                                 | Bridgestone Corp        | CUSIP: J04578126<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |     44492 | NS      | $1001890.77   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Screen Holdings Co Ltd.                           | SCREEN HOLDINGS         | CUSIP: J6988U114<br>LEI: 353800ND89FTQ9XQ0R07 | Long             | EC               | CORP              | JP        |     10585 | NS      | $1344652.43   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange Ltd.                           | SINGAPORE EXCH          | CUSIP: Y79946102<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |     73917 | NS      | $1024333.21   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI Holdings Inc                                  | SBI Holdings Inc/Japan  | CUSIP: J6991H100<br>LEI: 353800L6LMHYIPSMRQ17 | Long             | EC               | CORP              | JP        |     45296 | NS      | $1019702.92   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp.                                      | SUBARU CORP             | CUSIP: J7676H100<br>LEI: 549300N244BVAEE6HH86 | Long             | EC               | CORP              | JP        |     45390 | NS      | $975772.67    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd.                                      | HITACHI LTD             | CUSIP: J20454112<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |     30220 | NS      | $1046829.45   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Makita Corp.                                      | Makita Corp             | CUSIP: J39584107<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |     32097 | NS      | $1109775.31   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Corp.                                  | MITSUBISHI CORP         | CUSIP: J43830116<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |     40697 | NS      | $1077367.89   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Co Ltd.                              | NISSAN MOTOR CO         | CUSIP: J57160129<br>LEI: 353800DRBDH1LUTNAY26 | Long             | EC               | CORP              | JP        |    406682 | NS      | $991465.08    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Limited                                      | NICE LTD                | CUSIP: M7494X101<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      7177 | NS      | $766574.63    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Shionogi & Co Ltd.                                | SHIONOGI & CO           | CUSIP: J74229105<br>LEI: 35380049VXDTHZI3DY35 | Long             | EC               | CORP              | JP        |     60389 | NS      | $1238512.59   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                       | NOVARTIS AG-REG         | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      7874 | NS      | $1167552.24   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                                       | EQUINOR ASA             | CUSIP: R2R90P103<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |     40102 | NS      | $1070196.18   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc.                                 | PDD HOLDINGS INC        | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      7041 | NS      | $711493.05    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Private Real Estate Debt Fund             | RDWD-R/E INC-I          | CUSIP: 758067102<br>LEI: 549300XIZ6J0ZXQMTV96 | Long             | EC               | RF                | US        |    466078 | NS      | $11703207.58  | 12.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Yara International ASA                            | YARA INTL ASA           | CUSIP: R9900C106<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | EC               | CORP              | NO        |     26173 | NS      | $1204529.66   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA                                      | US BANK MMDA - USBGFS 9 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     26028 | PA      | $26028.37     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                                | KINROSS GOLD            | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     41990 | NS      | $1322335.14   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Recordati Industria Chimica e Farmaceutica S.p.A. | Recordati SpA           | CUSIP: T78458139<br>LEI: 815600FBF92FD3531704 | Long             | EC               | CORP              | IT        |     16444 | NS      | $903717.93    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Chemical Group Corp.                   | MITSUBISHI CHEMI        | CUSIP: J44046100<br>LEI: 353800YNKX4RQUGAR072 | Long             | EC               | CORP              | JP        |    177437 | NS      | $1169445.60   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Schindler Holding AG                              | SCHINDLER HLD-PC        | CUSIP: H7258G209<br>LEI: 5299007DRLI319H7Q933 | Long             | EP               | CORP              | CH        |      2692 | NS      | $1038492.11   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Legrand SA                                        | LEGRAND SA              | CUSIP: F56196185<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |      5614 | NS      | $898825.90    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuehne & Nagel International AG                   | KUEHNE & NAGEL-R        | CUSIP: H4673L145<br>LEI: 529900Q0YED3805QXQ66 | Long             | EC               | CORP              | CH        |      4908 | NS      | $1134617.85   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                  | TOTALENERGIES SE        | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     15429 | NS      | $1118931.87   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Logitech International SA                         | LOGITECH INTER-R        | CUSIP: H50430232<br>LEI: 549300SN6PRK6IJJC215 | Long             | EC               | CORP              | CH        |      8389 | NS      | $723212.11    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Amadeus IT Group SA                               | AMADEUS IT GROUP        | CUSIP: E04648114<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |     12608 | NS      | $846614.04    | 0.90%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Suncor Energy Inc.                                | SUNCOR ENERGY           | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     24236 | NS      | $1281012.40   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Pandora A/S                                       | PANDORA A/S             | CUSIP: K7681L102<br>LEI: 5299007OWYZ6I1E46843 | Long             | EC               | CORP              | DK        |      7097 | NS      | $573365.24    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Brenntag SE                                       | BRENNTAG SE             | CUSIP: D12459117<br>LEI: NNROIXVWJ7CPSR27SV97 | Long             | EC               | CORP              | DE        |     17385 | NS      | $1059759.25   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Holdings Co Ltd.                           | OTSUKA HOLDINGS         | CUSIP: J63117105<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     18186 | NS      | $1085904.98   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eneos Holdings Inc                                | ENEOS HOLDINGS I        | CUSIP: J29699105<br>LEI: 3538001KQ5SAOZSQTT44 | Long             | EC               | CORP              | JP        |    154888 | NS      | $1299557.18   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexon Co Ltd.                                     | NEXON CO LTD            | CUSIP: J4914X104<br>LEI: 5299005SFO0GAJFLKN43 | Long             | EC               | CORP              | JP        |     49358 | NS      | $1174613.37   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ARC Resources Ltd.                                | ARC RESOURCES LT        | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |     53105 | NS      | $985556.54    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                     | KONINKLIJKE AHOL        | CUSIP: N0074E105<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     23176 | NS      | $905930.93    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Knorr-Bremse AG                                   | KNORR-BREMSE AG         | CUSIP: D4S43E114<br>LEI: 5299001GRRO0Z25YZT52 | Long             | EC               | CORP              | DE        |     10377 | NS      | $1211593.51   | 1.30%             |  |  |  | Yes           |                  1 | On Loan: No      |
| TFI International Inc                             | TFI INTERNATIONAL INC   | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |     10834 | NS      | $1164295.16   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CGI Inc                                           | CGI INC                 | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |     11273 | NS      | $966164.89    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB                                      | EVOLUTION AB            | CUSIP: W3287P115<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |     13968 | NS      | $907255.32    | 0.97%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Dassault Systemes                                 | DASSAULT SYSTEME        | CUSIP: F24571451<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |     34033 | NS      | $937199.07    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JDE Peets N.V                                     | JDE PEET'S NV           | CUSIP: N44664105<br>LEI: 724500EHG519SE5ZRT89 | Long             | EC               | CORP              | NL        |     26440 | NS      | $991500.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                           | GSK PLC                 | CUSIP: G3910J179<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     41997 | NS      | $1078356.49   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexagon AB                                        | HEXAGON AB-B            | CUSIP: W4R431112<br>LEI: 549300WJFW6ILNI4TA80 | Long             | EC               | CORP              | SE        |     77284 | NS      | $872779.30    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                         | SHELL PLC               | CUSIP: G80827101<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     25575 | NS      | $977771.92    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Recruit Holdings Co Ltd.                          | RECRUIT HOLDINGS        | CUSIP: J6433A101<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     19754 | NS      | $1033893.33   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                      | UBS GROUP AG            | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     25326 | NS      | $1192255.03   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME S.A.                                     | AENA SME SA             | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |     36070 | NS      | $1122054.20   | 1.20%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Ryanair Holdings PLC                              | RYANAIR HLDGS           | CUSIP: G7727C186<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |     32659 | NS      | $1108128.55   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius Stedim Biotech SA                       | SARTORIUS STEDIM        | CUSIP: F8005V210<br>LEI: 52990006IVXY7GCSSR39 | Long             | EC               | CORP              | FR        |      3994 | NS      | $891923.86    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | ISHARES CORE MSCI EM    | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    337777 | NS      | $1803729.18   | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Check Point Software Technologies Ltd.            | CHECK POINT SOFT        | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |      4925 | NS      | $884086.75    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Limited                                   | WIX.COM LTD             | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      7166 | NS      | $622295.44    | 0.67%             |  |  |  | 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