# EDGAR Filing Document

**Accession Number:** 0001464413
**File Stem:** 0002000324-25-004008
**Filing Date:** 2025-10
**Character Count:** 13706
**Document Hash:** 48ca1ac67b557b6192b3766a7eb171c5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004008.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0002000324-25-004008

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20260531

**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:** 251419401

**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

### RH Tactical Outlook ETF (Series ID: S000072159)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000227949 | RH Tactical Outlook ETF | RHTX            |

## 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 | LONGSHORT | 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 |
| 860 | RH Tactical Outlook ETF | MSTR | MicroStrategy Inc |  |  | 594972408 | 1099 | Application Software |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 1/0/1900 |  |  | 334.41 |  |  |  |  |  | MicroStrategy Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 1371.00 | 551818.73 | 551818.73 | 458476.11 | 458476.11 | -93342.62 | -93342.62 | 0.00 | False | 0.00 | N/A | 5.72 | 5.68 | 5.68 | 0.00 |  |  | MSTR<br> N | MP |
| 860 | RH Tactical Outlook ETF | SPMD | SPDR Portfolio S&P 4 | 00 Mid Cap ETF |  | 78464A847 |  | UNGROUPED SECURITIES |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 57.11 |  |  |  |  |  | SPDR Portfolio S&P 4 | 00 Mid Cap ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 25857.17 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 36063.00 | 1713998.45 | 1713998.45 | 2059557.93 | 2059557.93 | 345559.48 | 345559.48 | 1.26 | False | 0.00 | N/A | 25.68 | 25.50 | 25.52 | 0.00 |  | 549300TKUU0ZLRVSLJ96 | SPMD<br> N | MP |
| 860 | RH Tactical Outlook ETF | SLV | iShares Silver Trust |  |  | 46428Q109 | 1026 | Commodity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 36.19 |  |  |  |  |  | iShares Silver Trust |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 11846.00 | 292950.39 | 292950.39 | 428706.74 | 428706.74 | 135756.35 | 135756.35 | 0.00 | False | 0.00 | N/A | 5.35 | 5.31 | 5.31 | 0.00 |  |  | SLV<br> N | MP |
| 860 | RH Tactical Outlook ETF | GLD | SPDR Gold Shares |  |  | 78463V107 | 1026 | Commodity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 318.07 |  |  |  |  |  | SPDR Gold Shares |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 1656.00 | 275521.96 | 275521.96 | 526723.92 | 526723.92 | 251201.96 | 251201.96 | 0.00 | False | 0.00 | N/A | 6.57 | 6.52 | 6.53 | 0.00 |  |  | GLD<br> N | MP |
| 860 | RH Tactical Outlook ETF | IWM | iShares Russell 2000 | ETF |  | 464287655 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 235.17 |  |  |  |  |  | iShares Russell 2000 | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7557.49 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 2797.00 | 552767.07 | 552767.07 | 657770.49 | 657770.49 | 105003.42 | 105003.42 | 1.15 | False | 0.00 | N/A | 8.20 | 8.14 | 8.15 | 0.00 |  |  | IWM<br> N | MP |
| 860 | RH Tactical Outlook ETF | SPY | SPDR S&P 500 ETF Tru | st |  | 78462F103 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 645.05 |  |  |  |  |  | SPDR S&P 500 ETF Tru | st |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 39817.27 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 6002.00 | 2549047.84 | 2549047.84 | 3871590.10 | 3871590.10 | 1322542.26 | 1322542.26 | 1.03 | False | 0.00 | N/A | 48.28 | 47.93 | 47.97 | 0.00 |  |  | SPY<br> N | MP |
| 860 | RH Tactical Outlook ETF | ZD14735D | MSTR 250829C0036000 |  | MSTR 250829C00360000 | MSTR250829C360. |  | UNGROUPED SECURITIES |  | OPTION | OPTION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 8/30/2025 |  |  | 0.01 |  |  |  |  |  | MSTR 250829C0036000 |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | S<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | -13.00 | -9997.46 | -9997.46 | -6.50 | -6.50 | 9990.96 | 9990.96 | 0.00 | False | 0.00 | N/A | 0.00 | 0.00 | 0.00 | 0.00 |  |  | ZD14735D<br> N | MP |
| 860 | RH Tactical Outlook ETF | DFB8144A | MSTR 250905C0045000 |  | MSTR 250905C00450000 | MSTR250905C450. |  | UNGROUPED SECURITIES |  | OPTION | OPTION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 9/6/2025 |  |  | 0.16 |  |  |  |  |  | MSTR 250905C0045000 |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 7.00 | 5012.17 | 5012.17 | 112.00 | 112.00 | -4900.17 | -4900.17 | 0.00 | False | 0.00 | N/A | 0.00 | 0.00 | 0.00 | 0.00 |  |  | DFB8144A<br> N | MP |
| 860 | RH Tactical Outlook ETF | BD04404A | MSTR 250919C0042000 |  | MSTR 250919C00420000 | MSTR250919C420. |  | UNGROUPED SECURITIES |  | OPTION | OPTION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 9/20/2025 |  |  | 1.88 |  |  |  |  |  | MSTR 250919C0042000 |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 7.00 | 3470.50 | 3470.50 | 1312.50 | 1312.50 | -2158.00 | -2158.00 | 0.00 | False | 0.00 | N/A | 0.02 | 0.02 | 0.02 | 0.00 |  |  | BD04404A<br> N | MP |
| 860 | RH Tactical Outlook ETF | AC25435D | MSTR 250919P0032000 |  | MSTR 250919P00320000 | MSTR250919P320. |  | UNGROUPED SECURITIES |  | OPTION | OPTION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 9/20/2025 |  |  | 11.43 |  |  |  |  |  | MSTR 250919P0032000 |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 8/29/2025<br> C |  | 860;USD | USD | 13.00 | 10738.32 | 10738.32 | 14852.50 | 14852.50 | 4114.18 | 4114.18 | 0.00 | False | 0.00 | N/A | 0.19 | 0.18 | 0.18 | 0.00 |  |  | AC25435D<br> N | MP |

---

## 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:** RH Tactical Outlook ETF

- **b. EDGAR series identifier (if any):** S000072159

- **c. LEI of Series:** 549300YUC69J1CDTU576

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $8077786.03

**Total Liabilities:** $7355.83

**Net Assets:** $8070430.20

**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 C000227949 | 4.07%                | 1.54%                | 2.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $21056.65                | $286192.20                                 |
| Month 2  | $7020.84                 | $70677.49                                  |
| Month 3  | $-38818.60               | $178152.86                                 |

**Designated Index Information**

- **Index Name:** n/a

- **Index Identifier:** n/a

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MicroStrategy Inc    | COMMSTCK | CUSIP: 594972408<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1371 | NS      | $458476.11    | 5.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Gold Shares     | ETF      | CUSIP: 78463V107<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      1656 | NS      | $526723.92    | 6.53%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 | ETF      | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Long             | EC               | CORP              | US        |      2797 | NS      | $657770.49    | 8.15%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Silver Trust | ETF      | CUSIP: 46428Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11846 | NS      | $428706.74    | 5.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio S&P 4 | ETF      | CUSIP: 78464A847<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36063 | NS      | $2059557.93   | 25.52%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Tru | ETF      | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | CORP              | US        |      6002 | NS      | $3871590.10   | 47.97%            |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc    | OPTION   | CUSIP: 594972408<br>LEI: N/A                  | Long             | DE               |  | US        |        13 | NC      | $14852.50     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| MicroStrategy Inc    | OPTION   | CUSIP: 594972408<br>LEI: N/A                  | Long             | DE               |  | US        |         7 | NC      | $1312.50      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MicroStrategy Inc    | OPTION   | CUSIP: 594972408<br>LEI: N/A                  | Long             | DE               |  | US        |         7 | NC      | $112.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MicroStrategy Inc    | OPTION   | CUSIP: 594972408<br>LEI: N/A                  | Short            | DE               |  | US        |       -13 | NC      | $-6.50        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** Starboard Investment Trust

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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