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 2026-05-31 2025-08-31 N 29572943.08 88390.32 29484552.76 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 523952 NS USD 166766.22 0.57 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 125144.2 NS USD 109725.8 0.37 Long ABS-MBS CORP US N 2 2044-04-25 Floating 6.44 N N N N N N CWALT 2005-J11 N/A 12668AJS5 88703.6 NS USD 57052.09 0.19 Long ABS-MBS CORP US N 2 2025-09-25 Fixed 5 N N N N N N MicroStrategy Inc N/A 594972408 7221 NS USD 2414774.61 8.19 Long EC CORP US N 1 N N N Yieldmax Amzn Option N/A 88634T840 20652 NS USD 313290.84 1.06 Long EC CORP US N 1 N N N YieldMax AAPL Option N/A 88634T857 24216 NS USD 321830.64 1.09 Long EC CORP US N 1 N N N Yieldmax Meta Option N/A 88634T816 19608 NS USD 315296.64 1.07 Long EC CORP US N 1 N N N VanEck Vectors Gold N/A 92189F106 33350 NS USD 2106719.5 7.15 Long EC CORP US N 1 N N N YieldMax GOOGL Optio N/A 88634T790 27189 NS USD 369226.62 1.25 Long EC CORP US N 1 N N N YieldMax MSFT Option N/A 88634T428 18623 NS USD 324598.89 1.1 Long EC CORP US N 1 N N N YieldMax NVDA Option N/A 88634T774 19370 NS USD 322510.5 1.09 Long EC CORP US N 1 N N N Invesco QQQ Trust Se 549300VY6FEJBCIMET58 46090E103 5228 NS USD 2982051.2 10.11 Long EC CORP US N 1 N N N SPDR S&P 500 ETF Tru 549300NZAMSJ8FXPQQ63 78462F103 7135 NS USD 4602431.75 15.61 Long EC CORP US N 1 N N N iShares 20+ Year Tre 549300WWURKS1JGBZU59 464287432 22386 NS USD 1938627.6 6.58 Long EC CORP US N 1 N N N Yieldmax Tsla Option N/A 88636J444 378 NS USD 2959.74 0.01 Long EC CORP US N 1 N N N Fidelity Investments 6X064LF7Y6B4DKF2GZ26 316175108 195122.3 NS USD 195122.28 0.66 Long STIV US N 1 N N N Invesco QQQ Trust Se N/A 46090E103 -23 NC USD -8625 -0.03 Short DE US N 2 CLEAR ST N/A Put Written Invesco QQQ Trust Se ETF 100 540 USD 2025-10-01 XXXX -299.56 N N N Invesco QQQ Trust Se N/A 46090E103 23 NC USD 24173 0.08 Long DE US N 2 CLEAR ST N/A Put Purchased Invesco QQQ Trust Se ETF 100 570 USD 2025-10-01 XXXX 3576.44 N N N SPDR S&P 500 ETF Tru N/A 78462F103 30 NC USD 21390 0.07 Long DE US N 2 CLEAR ST N/A Put Purchased SPDR S&P 500 ETF Tru ETF 100 640 USD 2025-10-01 XXXX -5520.73 N N N SPDR S&P 500 ETF Tru N/A 78462F103 -30 NC USD -5280 -0.02 Short DE US N 2 CLEAR ST N/A Put Written SPDR S&P 500 ETF Tru ETF 100 600 USD 2025-10-01 XXXX 2969.27 N N N MicroStrategy Inc N/A 594972408 70 NC USD 79975 0.27 Long DE US N 2 CLEAR ST N/A Put Purchased MicroStrategy Inc COMMSTCK 100 320 USD 2025-09-20 XXXX 22153.3 N N N MicroStrategy Inc N/A 594972408 35 NC USD 6562.5 0.02 Long DE US N 2 CLEAR ST N/A Call Purchased MicroStrategy Inc COMMSTCK 100 420 USD 2025-09-20 XXXX -10790.02 N N N MicroStrategy Inc N/A 594972408 30 NC USD 480 0 Long DE US N 2 CLEAR ST N/A Call Purchased MicroStrategy Inc COMMSTCK 100 450 USD 2025-09-06 XXXX -21000.73 N N N MicroStrategy Inc N/A 594972408 -70 NC USD -35 0 Short DE US N 2 CLEAR ST N/A Call Written MicroStrategy Inc COMMSTCK 100 360 USD 2025-08-30 XXXX 53797.51 N N N RH Hedged Multi-Asse N/A N/A 394556.9 NS USD 5421403.58 18.39 Long US N 2 N N N 2025-10-27 Starboard Investment Trust Pete Mccabe Pete Mccabe Principal Accounting Officer/Principal Financial Officer XXXX