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            <isTransferAgentSubAgent>Y</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg Professional Data</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-MA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitive Financial Solutions</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-MA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Clear Street LLC</custodianName>
            <custodianLei>549300KNQS43Y7TO3X67</custodianLei>
            <custodianStateCountry custodianCountry="US" custodianState="US-NY"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Nottingham Shareholder Services, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>5493004B2XJ9BX8S5061</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentCountry="US" shareholderServiceAgentState="US-NC"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Nottingham Company</adminName>
            <adminLei>549300WSNC1UD33Z2P26</adminLei>
            <adminStateCountry adminState="US-NC" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Wallachbeth Capital, LLC</brokerName>
            <brokerFileNo>008-67936</brokerFileNo>
            <brokerCrdNo>000147853</brokerCrdNo>
            <brokerLei>549300R371KUKXEXC133</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>560</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
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            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6142</grossCommission>
          </broker>
          <broker>
            <brokerName>Mischler Financial Group, Inc.</brokerName>
            <brokerFileNo>008-48067</brokerFileNo>
            <brokerCrdNo>000037818</brokerCrdNo>
            <brokerLei>2549004IPXPSM9EJFC92</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>35829.7</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>45582.92</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Clear Street LLC</principalName>
            <principalFileNo>008-69972</principalFileNo>
            <principalCrdNo>000288933</principalCrdNo>
            <principalLei>549300KNQS43Y7TO3X67</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>187899742</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Merrill Lynch Professional Clearing Corp.</principalName>
            <principalFileNo>008-33359</principalFileNo>
            <principalCrdNo>000016139</principalCrdNo>
            <principalLei>549300PMHS66E71I2D34</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>56401809</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>008-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>19058601</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>263360153</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>181002391.58</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>RH Tactical Outlook ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000072159</mgmtInvSeriesId>
        <mgmtInvLei>549300YUC69J1CDTU576</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Institutional Class Shares" sharesOutstandingClassId="C000227949" sharesOutstandingTickerSymbol="RHTX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Clear Street LLC</securitiesAgentName>
            <securitiesAgentLei>549300KNQS43Y7TO3X67</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <isSecurityAgentIdemnity>N</isSecurityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerLei="N/A" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="N" collateralManagerName="N/A"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Cavalier Investments, LLC d/b/a Adaptive Investments</investmentAdviserName>
            <investmentAdviserFileNo>801-106545</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000281201</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YUC69J1CDTU576</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserCountry="US" investmentAdviserState="US-GA"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Nottingham Shareholder Services, LLC</transferAgentName>
            <transferAgentFileNo>084-05687</transferAgentFileNo>
            <transferAgentLei>5493004B2XJ9BX8S5061</transferAgentLei>
            <transferAgentStateCountry transferAgentCountry="US" transferAgentState="US-NC"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
          <transferAgent>
            <transferAgentName>Broadridge Financial Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-13554</transferAgentFileNo>
            <transferAgentLei>549300KZDJZQ2YIHRC28</transferAgentLei>
            <transferAgentStateCountry transferAgentCountry="US" transferAgentState="US-NY"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>Y</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg Professional Data</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-MA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Financial Solutions</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-MA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Clear Street LLC</custodianName>
            <custodianLei>549300KNQS43Y7TO3X67</custodianLei>
            <custodianStateCountry custodianCountry="US" custodianState="US-NY"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Nottingham Shareholder Services, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>5493004B2XJ9BX8S5061</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentCountry="US" shareholderServiceAgentState="US-NC"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Nottingham Company</adminName>
            <adminLei>549300WSNC1UD33Z2P26</adminLei>
            <adminStateCountry adminState="US-NC" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Mischler Financial Group, Inc.</brokerName>
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            <brokerLei>2549004IPXPSM9EJFC92</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>5503.02</grossCommission>
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          <broker>
            <brokerName>Wallachbeth Capital, LLC</brokerName>
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            <brokerLei>549300R371KUKXEXC133</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>28298.12</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>33801.14</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Clear Street LLC</principalName>
            <principalFileNo>008-69972</principalFileNo>
            <principalCrdNo>000288933</principalCrdNo>
            <principalLei>549300KNQS43Y7TO3X67</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-FL"/>
            <principalTotalPurchaseSale>1821101</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
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            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>2098054</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Merrill Lynch Professional Clearing Corp.</principalName>
            <principalFileNo>008-33359</principalFileNo>
            <principalCrdNo>000016139</principalCrdNo>
            <principalLei>549300PMHS66E71I2D34</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>7097716</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>11016871</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>23864614.15</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>RH Tactical Rotation ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000072157</mgmtInvSeriesId>
        <mgmtInvLei>54930066MENKZJ5L2C64</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Institutional Class Shares" sharesOutstandingClassId="C000227947" sharesOutstandingTickerSymbol="RHRX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
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        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Clear Street LLC</securitiesAgentName>
            <securitiesAgentLei>549300KNQS43Y7TO3X67</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <isSecurityAgentIdemnity>N</isSecurityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerLei="N/A" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="N" collateralManagerName="N/A"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Cavalier Investments, LLC d/b/a Adaptive Investments</investmentAdviserName>
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            <investmentAdviserCrdNo>000281201</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserCountry="US" investmentAdviserState="US-GA"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Nottingham Shareholder Services, LLC</transferAgentName>
            <transferAgentFileNo>084-05687</transferAgentFileNo>
            <transferAgentLei>5493004B2XJ9BX8S5061</transferAgentLei>
            <transferAgentStateCountry transferAgentCountry="US" transferAgentState="US-NC"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
          <transferAgent>
            <transferAgentName>Broadridge Financial Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>549300KZDJZQ2YIHRC28</transferAgentLei>
            <transferAgentStateCountry transferAgentCountry="US" transferAgentState="US-NY"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>Y</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg Professional Data</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-MA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Financial Solutions</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-MA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Clear Street LLC</custodianName>
            <custodianLei>549300KNQS43Y7TO3X67</custodianLei>
            <custodianStateCountry custodianCountry="US" custodianState="US-NY"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Member national securities exchange - rule 17f-1 (17 CFR 270.17f-1)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Nottingham Shareholder Services, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>5493004B2XJ9BX8S5061</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentCountry="US" shareholderServiceAgentState="US-NC"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Nottingham Company</adminName>
            <adminLei>549300WSNC1UD33Z2P26</adminLei>
            <adminStateCountry adminState="US-NC" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Clear Street LLC</brokerName>
            <brokerFileNo>008-69972</brokerFileNo>
            <brokerCrdNo>000288933</brokerCrdNo>
            <brokerLei>549300KNQS43Y7TO3X67</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>100</grossCommission>
          </broker>
          <broker>
            <brokerName>GTS Securities, LLC</brokerName>
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            <brokerCrdNo>000149224</brokerCrdNo>
            <brokerLei>5493005RMIRIL1NTB654</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2460</grossCommission>
          </broker>
          <broker>
            <brokerName>Mischler Financial Group, Inc.</brokerName>
            <brokerFileNo>008-48067</brokerFileNo>
            <brokerCrdNo>000037818</brokerCrdNo>
            <brokerLei>2549004IPXPSM9EJFC92</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>12170.49</grossCommission>
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          <broker>
            <brokerName>Wallachbeth Capital LLC</brokerName>
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            <brokerCrdNo>000147853</brokerCrdNo>
            <brokerLei>549300R371KUKXEXC133</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>32485.38</grossCommission>
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        </brokers>
        <aggregateCommission>48025.87</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Clear Street, LLC</principalName>
            <principalFileNo>008-69972</principalFileNo>
            <principalCrdNo>000288933</principalCrdNo>
            <principalLei>549300KNQS43Y7TO3X67</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>40</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>008-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>3706127</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Merrill Lynch Professional Clearing Corp.</principalName>
            <principalFileNo>008-33359</principalFileNo>
            <principalCrdNo>000016139</principalCrdNo>
            <principalLei>549300PMHS66E71I2D34</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>1519275</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>5225442</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>23290405.76</mnthlyAvgNetAssets>
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    <signature registrantSignedName="Starboard Investment Trust" signature="Peter McCabe" signedDate="2023-08-14" title="Treasurer, Principal Financial Officer, and Principal Accounting Officer"/>
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