STARBOARD INVT TR

Ticker: AMAX CUSIP: 85521B783 Class: ADAPTIVE HDGD MU

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (3)

LaSalle St. Investment Advisors, LLC
Value ($000) $0 Shares 40,096
Janney Montgomery Scott LLC
Value ($000) $0 Shares 25,000
HRT FINANCIAL LP
Value ($000) $0 Shares 11,444

Increased Positions (8)

PARTNERS WEALTH MANAGEMENT, LLC
Value ($000) $4,448 (+9.8%) Shares 563,002 (+13.9%)
Rockport Wealth LLC
Value ($000) $2,694 (+10.4%) Shares 341,063 (+14.5%)
KESTRA PRIVATE WEALTH SERVICES, LLC
Value ($000) $8,610 (+4.6%) Shares 1,089,876 (+8.5%)
LPL Financial LLC
Value ($000) $5,736 (+203.1%) Shares 726,055 (+214.4%)
Foundations Investment Advisors, LLC
Value ($000) $652 (+48.1%) Shares 82,549 (+53.6%)
RAYMOND JAMES FINANCIAL INC
Value ($000) $1,095 (+7.7%) Shares 138,573 (+11.7%)
NewEdge Advisors, LLC
Value ($000) $394 (+21.4%) Shares 49,824 (+25.9%)
OSAIC HOLDINGS, INC.
Value ($000) $3,030 (+1.0%) Shares 383,521 (+1.4%)

Decreased Positions (6)

Empirical Asset Management, LLC
Value ($000) $95 (-37.5%) Shares 11,994 (-35.2%)
INTEGRITY ALLIANCE, LLC.
Value ($000) $218 (-22.1%) Shares 27,637 (-19.2%)
JANE STREET GROUP, LLC
Value ($000) $186 (-60.0%) Shares 23,549 (-58.5%)
Cetera Investment Advisers
Value ($000) $373 (-16.9%) Shares 47,201 (-13.8%)
Ausdal Financial Partners, Inc.
Value ($000) $87 (-21.8%) Shares 11,067 (-18.9%)
Atria Investments, Inc
Value ($000) $87 (-21.8%) Shares 11,067 (-18.9%)

Exited Positions (3)

OLD MISSION CAPITAL LLC
Value ($000) $284 Shares 34,674
WealthPlan Investment Management, LLC
Value ($000) $102 Shares 12,502
UBS Group AG
Value ($000) $7 Shares 796