# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-25-006697
**Filing Date:** 2025-12
**Character Count:** 10775
**Document Hash:** f0a217ec5bed1ee42211284928d9b5e4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-006697.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000910472-25-006697

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**PERIOD START**: 20260731

**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:** 251611697

**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

### Tactical Dividend and Momentum Fund (Series ID: S000050364)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000159026 | Tactical Dividend and Momentum Fund Class A Shares | HTDAX           |
| C000159027 | Tactical Dividend and Momentum Fund Class C Shares | HTDCX           |
| C000159028 | Tactical Dividend and Momentum Fund Class I Shares | HTDIX           |
| C000159029 | Tactical Dividend and Momentum Fund Class R Shares | HTDRX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **TACTICAL DIVIDEND AND MOMENTUM FUND** | **TACTICAL DIVIDEND AND MOMENTUM FUND** | **TACTICAL DIVIDEND AND MOMENTUM FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **October 31, 2025** | **October 31, 2025** | **October 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 94.2%** |  |
|  | **EQUITY - 94.2%** |  |
| 82648 | Communication Services Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; $9488817 |
| 41376 | Consumer Discretionary Select Sector SPDR Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 9927344 |
| 59055 | Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 4504715 |
| 30782 | Energy Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 2712818 |
| 234407 | Financial Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 12275895 |
| 19753 | Health Care Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 2849370 |
| 50877 | Industrial Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 7888988 |
| 43123 | Real Estate Select Sector SPDR Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1763731 |
| 54472 | Technology Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 16378641 |
| 25729 | Utilities Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 2292454 |
| 23360 | Vanguard Information Technology ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 18529385 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $63,339,993)** | &nbsp;&nbsp; 88612158 |
|  | **SHORT-TERM INVESTMENTS — 8.9%** |  |
|  | **MONEY MARKET FUNDS - 8.9%** |  |
| 8359527 | MSILF Treasury Securities Portfolio, Institutional Class, 3.87% (Cost $8,359,527)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 8359527 |
|  | **TOTAL INVESTMENTS - 103.1% (Cost $71,699,520)** | &nbsp;&nbsp;&nbsp; $96971685 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (3.1)%** | &nbsp;&nbsp; (2899777) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $94071908 |

---

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

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of October 31, 2025 was $7,702,783. As of October 31, 2025 non-cash collateral received from the borrower not disclosed in the Schedule of Investments had a value of $7,918,977.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of October 31, 2025.

## 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:** Tactical Dividend & Momentum Fund

- **b. EDGAR series identifier (if any):** S000050364

- **c. LEI of Series:** 549300BQZXVZE5S3BJ70

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $97115199.12

**Total Liabilities:** $3043291.11

**Net Assets:** $94071908.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159028 | 1.48%                | 3.55%                | 1.41%                |
| Class ID C000159026 | 1.48%                | 3.61%                | 1.34%                |
| Class ID C000159029 | 1.52%                | 3.55%                | 1.30%                |
| Class ID C000159027 | 1.44%                | 3.51%                | 1.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1655789.17              | $-218214.48                                |
| Month 2  | $0.00                    | $3096713.68                                |
| Month 3  | $0.00                    | $1381268.01                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Vanguard World Fund                          | VANGUARD INF T E            | CUSIP: 92204A702<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |     23360 | NS      | $18529385.60  | 19.70%            |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-FINL SELECT            | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    234407 | NS      | $12275894.59  | 13.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | MSILF-TR SEC-INS            | CUSIP: 61747C525<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |   8359527 | PA      | $8359527.40   | 8.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-CONS DISCRE            | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     41376 | NS      | $9927343.68   | 10.55%            |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-CONS STAPLE            | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     59055 | NS      | $4504715.40   | 4.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | REAL EST SEL SEC            | CUSIP: 81369Y860<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     43123 | NS      | $1763730.70   | 1.87%             |  |  |  | No            | 1                  | On Loan: —       |
| Select Sector Spdr Trust                     | SPDR-UTIL SELECT            | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     25729 | NS      | $2292453.90   | 2.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-HEALTH CARE            | CUSIP: 81369Y209<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     19753 | NS      | $2849370.25   | 3.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-COMM SERV              | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     82648 | NS      | $9488816.88   | 10.09%            |  |  |  | No            | 1                  | On Loan: No      |
| DREYFUS GOVERNMENT CASH MANAGE               | DREYFUS GOVT CASH MGMT FUND | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-ENERGY SEL             | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     30782 | NS      | $2712817.66   | 2.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-TECH SEL S             | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     54472 | NS      | $16378640.96  | 17.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                     | SPDR-INDU SELECT            | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     50877 | NS      | $7888987.62   | 8.39%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

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

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer