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        <curCd>USD</curCd>
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        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ETFMG PRIME</name>
        <lei>549300IRZZNTG5RM7Y44</lei>
        <title>ETF</title>
        <cusip>26924G409</cusip>
        <identifiers>
          <isin value="US26924G4091"/>
        </identifiers>
        <balance>115531</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4928552.46</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P</name>
        <lei>549300BBJPWNKDPREW36</lei>
        <title>ETF</title>
        <cusip>78464A771</cusip>
        <identifiers>
          <isin value="US78464A7717"/>
        </identifiers>
        <balance>58428</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4677885.91</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P Regional Ba</name>
        <lei>549300EFWJBKUN6WJX52</lei>
        <title>ETF</title>
        <cusip>78464A698</cusip>
        <identifiers>
          <isin value="US78464A6982"/>
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        <balance>114278</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7152660.02</valUSD>
        <pctVal>0.04</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global X Lithium &amp;</name>
        <lei>5493004G7TKT5SOCWN15</lei>
        <title>ETF</title>
        <cusip>37954Y855</cusip>
        <identifiers>
          <isin value="US37954Y8553"/>
        </identifiers>
        <balance>77614</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5725584.78</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>O'SHARES GLOBAL</name>
        <lei>54930012BL04M0OMCP81</lei>
        <title>ETF</title>
        <cusip>00162Q361</cusip>
        <identifiers>
          <isin value="US00162Q3618"/>
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        <balance>84188</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2426298.16</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Invesco DWA Healthca</name>
        <lei>549300HW4X5F66JYEL71</lei>
        <title>ETF</title>
        <cusip>46137V852</cusip>
        <identifiers>
          <isin value="US46137V8524"/>
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        <balance>45303</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5843633.97</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco QQQ Trust Se</name>
        <lei>549300VY6FEJBCIMET58</lei>
        <title>ETF</title>
        <cusip>46090E103</cusip>
        <identifiers>
          <isin value="US46090E1038"/>
        </identifiers>
        <balance>18487</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5532604.49</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco S&amp;P 500</name>
        <lei>549300AMYKGRJ1UHN136</lei>
        <title>ETF</title>
        <cusip>46137V282</cusip>
        <identifiers>
          <isin value="US46137V2824"/>
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        <balance>33862</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8601963.86</valUSD>
        <pctVal>0.05</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST TRUST CLOUD</name>
        <lei>5493006AUYA2BRBGB132</lei>
        <title>ETF</title>
        <cusip>33734X192</cusip>
        <identifiers>
          <isin value="US33734X1928"/>
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        <balance>99877</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6841574.5</valUSD>
        <pctVal>0.04</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VanEck Vectors Semic</name>
        <lei>549300MJTG2N9QRH7I02</lei>
        <title>ETF</title>
        <cusip>92189F676</cusip>
        <identifiers>
          <isin value="US92189F6768"/>
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        <balance>42486</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9116221.02</valUSD>
        <pctVal>0.05</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard</name>
        <lei>N/A</lei>
        <title>ETF</title>
        <cusip>92204A801</cusip>
        <identifiers>
          <isin value="US92204A8018"/>
        </identifiers>
        <balance>29139</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4840570.68</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Financials</name>
        <lei>549300MP6BT0L4Q61L10</lei>
        <title>ETF</title>
        <cusip>92204A405</cusip>
        <identifiers>
          <isin value="US92204A4058"/>
        </identifiers>
        <balance>50389</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4098137.37</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VANECK VIETNAM ETF</name>
        <lei>N/A</lei>
        <title>ETF</title>
        <cusip>92189F817</cusip>
        <identifiers>
          <isin value="US92189F8178"/>
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        <balance>364157</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5582526.81</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P AEROSPACE</name>
        <lei>5493006TZ0473G1GOE68</lei>
        <title>ETF</title>
        <cusip>78464A631</cusip>
        <identifiers>
          <isin value="US78464A6313"/>
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        <balance>41003</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4281123.23</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P</name>
        <lei>549300JPXFHZOFFNSZ24</lei>
        <title>ETF</title>
        <cusip>78464A573</cusip>
        <identifiers>
          <isin value="US78464A5737"/>
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        <balance>30602</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2840171.62</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Energy Select Sector</name>
        <lei>N/A</lei>
        <title>ETF</title>
        <cusip>81369Y506</cusip>
        <identifiers>
          <isin value="US81369Y5069"/>
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        <balance>89491</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7204025.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Financial Select Sec</name>
        <lei>549300Y12KQ6ZG08NY28</lei>
        <title>ETF</title>
        <cusip>81369Y605</cusip>
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          <isin value="US81369Y6059"/>
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        <balance>354275</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11708788.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Industrial Select Se</name>
        <lei>549300HQI51T8KP6U325</lei>
        <title>ETF</title>
        <cusip>81369Y704</cusip>
        <identifiers>
          <isin value="US81369Y7040"/>
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        <balance>85781</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7971628.33</valUSD>
        <pctVal>0.04</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Technology Select Se</name>
        <lei>549300BR5T0JNM2MW070</lei>
        <title>ETF</title>
        <cusip>81369Y803</cusip>
        <identifiers>
          <isin value="US81369Y8030"/>
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        <balance>72995</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9873303.7</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DREYFUS TR SEC</name>
        <lei>549300U78VESCW509025</lei>
        <title>MONEYMKT</title>
        <cusip>261941306</cusip>
        <identifiers>
          <ticker value="DARXX"/>
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        <balance>11916654</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11916654</valUSD>
        <pctVal>0.06</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Money Market" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-10-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Starboard Investment Trust</ncom:nameOfApplicant>
      <ncom:signature>Ashley Lanham</ncom:signature>
      <ncom:signerName>Ashley Lanham</ncom:signerName>
      <ncom:title>Principal Accounting Officer/Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
