NPORT-P false 0001464413 XXXXXXXX S000072156 C000227946 Starboard Investment Trust 811-22298 0001464413 549300IGQEISLESO0528 116 South Franklin Street Rocky Mount 27804 252-972-9922 Adaptive Hedged Multi-Asset Income ETF S000072156 549300EHSSN4HK394B90 2025-05-31 2025-05-31 N 22126133.83 95150.09 22030983.74 0 0 0 0 0 0 0 0 0 0 0 0 0 0 USD N n/a n/a CWALT 2006-28CB A15 N/A 02147TAQ9 525569.1 NS USD 168153.83 0.76 Long ABS-MBS CORP US N 2 2036-10-25 Fixed 6.5 N N N N N N AHM 2004-1 4M1 N/A 02660TAS2 129153.6 NS USD 106372.59 0.48 Long ABS-MBS CORP US N 2 2044-04-25 Floating 6.71 N N N N N N CWALT 2005-J11 N/A 12668AJS5 88703.6 NS USD 86491.05 0.39 Long ABS-MBS CORP US N 2 2025-09-25 Fixed 5 N N N N N N MicroStrategy Inc N/A 594972408 6904 NS USD 2547990.24 11.57 Long EC CORP US N 1 N N N Yieldmax Amzn Option N/A 88634T840 16509 NS USD 263648.73 1.2 Long EC CORP US N 1 N N N YieldMax AAPL Option N/A 88634T857 19344 NS USD 251665.44 1.14 Long EC CORP US N 1 N N N Yieldmax Meta Option N/A 88634T816 15687 NS USD 250050.78 1.13 Long EC CORP US N 1 N N N VanEck Vectors Gold N/A 92189F106 26628 NS USD 1348708.2 6.12 Long EC CORP US N 1 N N N YieldMax GOOGL Optio N/A 88634T790 21725 NS USD 267869.25 1.22 Long EC CORP US N 1 N N N YieldMax MSFT Option N/A 88634T428 14866 NS USD 255992.52 1.16 Long EC CORP US N 1 N N N YieldMax NVDA Option N/A 88634T774 15465 NS USD 238934.25 1.08 Long EC CORP US N 1 N N N Invesco QQQ Trust Se 549300VY6FEJBCIMET58 46090E103 4500 NS USD 2335995 10.6 Long EC CORP US N 1 N N N SPDR S&P 500 ETF Tru 549300NZAMSJ8FXPQQ63 78462F103 5724 NS USD 3373668.36 15.31 Long EC CORP US N 1 N N N iShares 20+ Year Tre 549300WWURKS1JGBZU59 464287432 17878 NS USD 1542513.84 7 Long EC CORP US N 1 N N N Yieldmax Tsla Option N/A 88636J444 304 NS USD 2821.12 0.01 Long EC CORP US N 1 N N N Fidelity Investments 6X064LF7Y6B4DKF2GZ26 316175108 177303.1 NS USD 177303.05 0.8 Long STIV US N 1 N N N MicroStrategy Inc N/A 594972408 -69 NC USD -103.5 0 Short DE US N 2 CLEAR ST N/A Call Written MicroStrategy Inc COMMSTCK 100 395 USD 2025-05-31 XXXX 40535.47 N N N MicroStrategy Inc N/A 594972408 70 NC USD 94150 0.43 Long DE US N 2 CLEAR ST N/A Put Purchased MicroStrategy Inc COMMSTCK 100 365 USD 2025-06-14 XXXX -71472.06 N N N MicroStrategy Inc N/A 594972408 35 NC USD 3097.5 0.01 Long DE US N 2 CLEAR ST N/A Call Purchased MicroStrategy Inc COMMSTCK 100 465 USD 2025-06-14 XXXX -43488.53 N N N RH Hedged Multi-Asse N/A N/A 394556.9 NS USD 5263782.82 23.89 Long US N 2 N N N 2025-07-21 Starboard Investment Trust Pete Mccabe Pete Mccabe Principal Accounting Officer/Principal Financial Officer XXXX