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    <isConfidential>false</isConfidential>
    <filerInfo>

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        <issuerCredentials>
          <cik>0001464413</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000061872</seriesId>
        <classId>C000200403</classId>
      </seriesClassInfo>


    </filerInfo>
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      <regFileNumber>811-22298</regFileNumber>
      <regCik>0001464413</regCik>
      <regLei>549300IGQEISLESO0528</regLei>
      <regStreet1>116 South Franklin Street</regStreet1>
      <regCity>Rocky Mount</regCity>
      <regStateConditional regCountry="US" regState="US-NC"/>
      <regZipOrPostalCode>27804</regZipOrPostalCode>
      <regPhone>252-972-9922</regPhone>
      <seriesName>Matisse Discounted Bond CEF Strategy</seriesName>
      <seriesId>S000061872</seriesId>
      <seriesLei>549300VDRUKECI4KMZ43</seriesLei>
      <repPdEnd>2023-03-31</repPdEnd>
      <repPdDate>2022-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>942840.18</totLiabs>
      <netAssets>36340432.6</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
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      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <curMetrics>
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      <creditSprdRiskNonInvstGrade period10Yr="0" period1Yr="0" period30Yr="0" period3Mon="0" period5Yr="0"/>
      <borrowers>
        <borrower aggrVal="0" lei="N/A" name="N/A"/>
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      <isNonCashCollateral>N</isNonCashCollateral>
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        </monthlyTotReturns>
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        <name>BLACKSTONE/GSO</name>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BARINGS GLOBAL SHORT</name>
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        <name>Blackstone/GSO Long-</name>
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      <invstOrSec>
        <name>BlackRock New York M</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MFS High Yield Munic</name>
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      <invstOrSec>
        <name>First Trust Senior</name>
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        <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>ANGEL OAK FINANCIAL</name>
        <lei>549300BL3JQL47QYUO51</lei>
        <title>CLOSED-E</title>
        <cusip>03464A100</cusip>
        <identifiers>
          <isin value="US03464A1007"/>
        </identifiers>
        <balance>80000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1024800</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>Federated Hermes Pre</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>31423P108</cusip>
        <identifiers>
          <isin value="US31423P1084"/>
        </identifiers>
        <balance>44588</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>468174</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Trust High Inc</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>33738E109</cusip>
        <identifiers>
          <isin value="US33738E1091"/>
        </identifiers>
        <balance>2500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28625</valUSD>
        <pctVal>0</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>Franklin Ltd Duratio</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>35472T101</cusip>
        <identifiers>
          <isin value="US35472T1016"/>
        </identifiers>
        <balance>159668</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>991538.28</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>FIRST TRUST HIGH</name>
        <lei>549300VWTG40J7RZE994</lei>
        <title>CLOSED-E</title>
        <cusip>33741Q107</cusip>
        <identifiers>
          <isin value="US33741Q1076"/>
        </identifiers>
        <balance>46036</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>620565.28</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>NEW AMERICA HIGH</name>
        <lei>V5LSTDFQKWGSW30MQ381</lei>
        <title>CLOSED-E</title>
        <cusip>641876800</cusip>
        <identifiers>
          <isin value="US6418768007"/>
        </identifiers>
        <balance>30516</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>201405.6</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PGIM High Yield Bond</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>69346H100</cusip>
        <identifiers>
          <isin value="US69346H1005"/>
        </identifiers>
        <balance>19878</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>235951.86</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELAWARE IVY</name>
        <lei>549300C130E3EJZ8ZQ39</lei>
        <title>CLOSED-E</title>
        <cusip>246107106</cusip>
        <identifiers>
          <isin value="US2461071068"/>
        </identifiers>
        <balance>50659</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>555222.64</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>Nuveen Mortgage</name>
        <lei>07Q4EPZRU8XATVYVY545</lei>
        <title>CLOSED-E</title>
        <cusip>670735109</cusip>
        <identifiers>
          <isin value="US6707351093"/>
        </identifiers>
        <balance>84000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1359120</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>Nuveen Short</name>
        <lei>N0WOEFO1WOMLJYH1PV29</lei>
        <title>CLOSED-E</title>
        <cusip>67074X107</cusip>
        <identifiers>
          <isin value="US67074X1072"/>
        </identifiers>
        <balance>12135</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>143921.1</valUSD>
        <pctVal>0</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>KKR OPPORTUNITIES</name>
        <lei>549300H65GA67Q2C3B36</lei>
        <title>CLOSED-E</title>
        <cusip>48249T106</cusip>
        <identifiers>
          <isin value="US48249T1060"/>
        </identifiers>
        <balance>34381</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>378534.81</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS STRATEGIC</name>
        <lei>HW9ZECORLBPA6LHYL567</lei>
        <title>CLOSED-E</title>
        <cusip>23342Q101</cusip>
        <identifiers>
          <isin value="US23342Q1013"/>
        </identifiers>
        <balance>22808</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186341.36</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIONEER MUNI HIGH</name>
        <lei>UE8ZNXHQH48NNA19I459</lei>
        <title>CLOSED-E</title>
        <cusip>723762100</cusip>
        <identifiers>
          <isin value="US7237621005"/>
        </identifiers>
        <balance>9452</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76561.2</valUSD>
        <pctVal>0</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>Pioneer Municipal</name>
        <lei>1SKUXW31ZFWF61CETQ82</lei>
        <title>CLOSED-E</title>
        <cusip>723763108</cusip>
        <identifiers>
          <isin value="US7237631087"/>
        </identifiers>
        <balance>11368</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97537.44</valUSD>
        <pctVal>0</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>BlackRock MuniHoldin</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>09255C106</cusip>
        <identifiers>
          <isin value="US09255C1062"/>
        </identifiers>
        <balance>8037</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82539.99</valUSD>
        <pctVal>0</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>Pioneer Municipal Hi</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>723760104</cusip>
        <identifiers>
          <isin value="US7237601049"/>
        </identifiers>
        <balance>110000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1171500</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>BlackRock MuniYield</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>09254V105</cusip>
        <identifiers>
          <isin value="US09254V1052"/>
        </identifiers>
        <balance>21623</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>239799.07</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Munici</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>95766P108</cusip>
        <identifiers>
          <isin value="US95766P1084"/>
        </identifiers>
        <balance>31435</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>365903.4</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock MuniYield</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>09255G107</cusip>
        <identifiers>
          <isin value="US09255G1076"/>
        </identifiers>
        <balance>117000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1288170</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>MORGAN STANLEY</name>
        <lei>879N34XPZOOCKFD26737</lei>
        <title>CLOSED-E</title>
        <cusip>61744H105</cusip>
        <identifiers>
          <isin value="US61744H1059"/>
        </identifiers>
        <balance>117137</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>766075.98</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>BlackRock MuniHoldin</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>09254L107</cusip>
        <identifiers>
          <isin value="US09254L1070"/>
        </identifiers>
        <balance>78600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>844164</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>BlackRock MuniHoldin</name>
        <lei>FDX8Y56FK6PN1WE5XX39</lei>
        <title>CLOSED-E</title>
        <cusip>09254X101</cusip>
        <identifiers>
          <isin value="US09254X1019"/>
        </identifiers>
        <balance>71765</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>794438.55</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>BlackRock MuniYield</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>09255E102</cusip>
        <identifiers>
          <isin value="US09255E1029"/>
        </identifiers>
        <balance>33064</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>324027.2</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman New</name>
        <lei>549300QBK683OL6H5P21</lei>
        <title>CLOSED-E</title>
        <cusip>64124K102</cusip>
        <identifiers>
          <isin value="US64124K1025"/>
        </identifiers>
        <balance>50964</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>480590.52</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Cal</name>
        <lei>5493003VDAWQHC3PB533</lei>
        <title>CLOSED-E</title>
        <cusip>64123C101</cusip>
        <identifiers>
          <isin value="US64123C1018"/>
        </identifiers>
        <balance>71956</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>813059.63</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>Nuveen Massachusetts</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>67061E104</cusip>
        <identifiers>
          <isin value="US67061E1047"/>
        </identifiers>
        <balance>26207</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>277007.99</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nuveen Core Plus Imp</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>67080D103</cusip>
        <identifiers>
          <isin value="US67080D1037"/>
        </identifiers>
        <balance>130000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1346800</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>Nuveen Pennsylvania</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>670972108</cusip>
        <identifiers>
          <isin value="US6709721087"/>
        </identifiers>
        <balance>34675</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385932.75</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nuveen Senior Income</name>
        <lei>KBG7JWT0F7S6ZY1KMU47</lei>
        <title>CLOSED-E</title>
        <cusip>67067Y104</cusip>
        <identifiers>
          <isin value="US67067Y1047"/>
        </identifiers>
        <balance>5537</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25414.83</valUSD>
        <pctVal>0</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>Nuveen Ohio Quility</name>
        <lei>549300YQTF12CXCN9E54</lei>
        <title>CLOSED-E</title>
        <cusip>670980101</cusip>
        <identifiers>
          <isin value="US6709801012"/>
        </identifiers>
        <balance>112900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1432701</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>Pioneer Floating</name>
        <lei>14KCTV0UEB8JC8MU2I61</lei>
        <title>CLOSED-E</title>
        <cusip>72369J102</cusip>
        <identifiers>
          <isin value="US72369J1025"/>
        </identifiers>
        <balance>121814</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1068308.78</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIONEER HIGH</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>72369H106</cusip>
        <identifiers>
          <isin value="US72369H1068"/>
        </identifiers>
        <balance>27064</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>175916</valUSD>
        <pctVal>0</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>RiverNorth Managed D</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>76882M104</cusip>
        <identifiers>
          <isin value="US76882M1045"/>
        </identifiers>
        <balance>67559</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1025545.62</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>WESTERN ASSET</name>
        <lei>5493000MG5MROBD48K57</lei>
        <title>CLOSED-E</title>
        <cusip>958435109</cusip>
        <identifiers>
          <isin value="US9584351095"/>
        </identifiers>
        <balance>4147</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31475.73</valUSD>
        <pctVal>0</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>VERTICAL CAPITAL</name>
        <lei>549300LVMWHJGZNVXZ22</lei>
        <title>CLOSED-E</title>
        <cusip>92535C104</cusip>
        <identifiers>
          <isin value="US92535C1045"/>
        </identifiers>
        <balance>93019</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>810195.49</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>INVESCO CA</name>
        <lei>0O4FOPVOK8KA2I2US555</lei>
        <title>CLOSED-E</title>
        <cusip>46132H106</cusip>
        <identifiers>
          <isin value="US46132H1068"/>
        </identifiers>
        <balance>26088</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>247314.24</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRTUS GLOBAL MULTI</name>
        <lei>5493008J77OQDENT5651</lei>
        <title>CLOSED-E</title>
        <cusip>92829B101</cusip>
        <identifiers>
          <isin value="US92829B1017"/>
        </identifiers>
        <balance>145000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1123750</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 PENNSYLVANIA</name>
        <lei>549300S5KHBL3XISY922</lei>
        <title>CLOSED-E</title>
        <cusip>46132K109</cusip>
        <identifiers>
          <isin value="US46132K1097"/>
        </identifiers>
        <balance>60552</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>593409.6</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>Invesco Trust For</name>
        <lei>FNS6N81D3V131ZZWNT79</lei>
        <title>CLOSED-E</title>
        <cusip>46131T101</cusip>
        <identifiers>
          <isin value="US46131T1016"/>
        </identifiers>
        <balance>35794</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>361519.4</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Divers</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>95790K109</cusip>
        <identifiers>
          <isin value="US95790K1097"/>
        </identifiers>
        <balance>110000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1397000</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>Western Asset</name>
        <lei>549300Z3DNF4FJBJ4A87</lei>
        <title>CLOSED-E</title>
        <cusip>95766R104</cusip>
        <identifiers>
          <isin value="US95766R1041"/>
        </identifiers>
        <balance>110000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1004300</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>Fidelity Investments</name>
        <lei>6X064LF7Y6B4DKF2GZ26</lei>
        <title>MONEYMKT</title>
        <cusip>316175108</cusip>
        <identifiers>
          <ticker value="FIGXX"/>
        </identifiers>
        <balance>141629.5</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>141629.53</valUSD>
        <pctVal>0</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>2023-02-01</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>
