HOSIX — Holbrook Structured Income Fund
Data updated: 2026-09-25
HOSIX — Holbrook Structured Income Fund. Intermediate Securitized (MBS/ABS/CMBS) Bond · $754.32M AUM. Holdings, fees, performance and SEC filings.
HOSIX Fund Overview
HOSIX — Holbrook Structured Income Fund is a US mutual fund managed by Two Roads Shared Trust, categorised as Intermediate Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Two Roads Shared Trust
- Category: Intermediate Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $754.32M
- 1-year return: 6.7%
- Ticker: HOSIX
- SEC CIK: 0001552947
- SEC series ID: S000075330
- Share class ID: C000234272
HOSIX Investment Objective and Strategy
Holbrook Structured Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Two Roads Shared Trust.
Investment objective
The Holbrook Structured Income Fund (the ?Fund?) seeks to provide current income and the opportunity for capital appreciation to produce a total return. There is no guarantee that the Fund will meet its investment objective.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing in structured income products, with a focus on securitized credit instruments. The Fund expects, under normal conditions, to be primarily invested in commercial and residential mortgage-backed securities (?RMBS? and ?CMBS?), collateralized loan obligations (?CLOs?) and other asset-backed fixed income securities, including securities backed by assets such as credit card receivables, student loans, automobile loans and residential and commercial real estate. The Fund may also invest in other collateralized debt obligations and collateralized mortgage obligations. The mortgage-backed and asset-backed securities and debt securitizations in which the Fund will invest are referred to collectively in this prospectus as Structured Products.
The Fund will invest, under normal circumstances, at least 80% of the value of its net assets (plus any borrowings for investment purpose) in Structured Products. The amount of the Fund?s investments in each type of Structured Products will vary, and there may be times when the Fund is not invested in one or more types of Structured Products. The Fund may invest a substantial portion of its portfolio in mortgage related securities consisting of (i) ?agency? RMBS and CMBS created by one of three quasi- governmental agencies (Government National Mortgage Association (?Ginnie Mae?), Federal National Mortgage (?Fannie Mae?), and Federal Home Loan Mortgage Corp. (?Freddie Mac?)), which directly or indirectly benefit from U.S. Government backing; and (ii) ?non-agency? RMBS and CMBS issued by private financial institutions and entities, which do not benefit from U.S.
Government backing. The Fund may invest in RMBS in the prime, subprime and ?Alt-A? first lien mortgage sectors, and traditional and interest-only CMBS. Subprime mortgage loans are made to borrowers who display poor credit histories and other characteristics that correlate with a higher default risk. The risk profile of Alt-A mortgages falls between prime and subprime. RMBS and CMBS are usually pass-through instruments that pay investors a share of all interest and principal payments from an underlying pool of fixed or adjustable rate mortgages. Non-agency RMBS and CMBS generally have one or more types of credit enhancement to ensure timely receipt of payments and to protect against default. The Fund?s investments in mortgage-related securities may include instruments, the underlying assets of which allow for balloon payments (where a substantial portion of a mortgage loan balance is paid at maturity, which can shorten the average life of the mortgage-backed instrument) or negative amortization payments (where as a result of a payment cap, payments on a mortgage loan are less than the amount of principal and interest owed, with excess amounts added to the outstanding principal balance, which can extend the average life of the mortgage-backed instrument).
The Fund may also invest in the equity tranches of a Structured Product, which typically represent the first loss position in the Structured Product, are unrated and are subject to higher risks. Equity tranches of Structured Products typically do not have a fixed coupon and payments on equity tranches will be based on the income received from the underlying collateral and the payments made to the senior tranches, both of which may be based on floating rates based on the Secured Overnight Financing Rate (?SOFR?) or another reference rate. The Fund may also invest in bonds, debentures and other fixed income securities. The Fund may invest a substantial portion of its net assets in high-yield securities (commonly referred to as ??below investment grade?? or ??junk?? bonds). High-yield securities are debt securities that are rated BB/Ba or lower by an independent rating agency, or are unrated but determined by the Adviser to be of comparable quality.
The Fund may invest without limit in fixed-income securities of any credit quality, duration or maturity and across several asset classes. The Fund may invest in fixed-income securities of issuers located in the United States and non-U.S. countries, including emerging market countries. The Fund may also invest in other debt obligations, including fixed, floating or variable rate obligations. The Fund ordinarily acquires and holds securities for investment rather than for realization of gains by short-term trading on market fluctuations. The Adviser uses macro-economic projections, fundamental company and industry analysis to strategically position the Fund, making tactical adjustments as investing conditions change. When selecting underlying securities, the Adviser considers a number of factors, including fundamental and technical analysis to assess the relative risk and reward potential.
The Fund will sell a portfolio holding when the security no longer meets its investment criteria or when a more attractive investment is available. The Fund may invest up to 15% of its net assets in investments that are deemed to be illiquid, which may include private placements, certain Rule 144A securities (which are subject to resale restrictions), and securities of issuers whose financial condition is uncertain, i.e. , where the issuer has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or is involved in bankruptcy proceedings, reorganizations or financial restructurings. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. The Fund may, when market signals warrant, go defensive, investing all or a substantial portion of Fund assets in cash and/or cash equivalents (including, without limitation, through investments in money market funds).
HOSIX Holdings
Top 10 holdings of Holbrook Structured Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Funds, Inc. | 3.12% |
| Capital Funding Mortgage Trust-034 | 3.06% |
| Sound Point Clo Xvi Ltd. | 2.48% |
| Trinitas Clo Viii Ltd. | 2.44% |
| Sound Point Clo Xix Ltd. | 2.40% |
| Halcyon Loan Advisors Funding 2018-2 Ltd. | 2.38% |
| Bain Capital Credit Clo 2018-2 Ltd. | 2.01% |
| Bpr 2023-Ston Mortgage Trust | 1.82% |
| Ellington Financial Mortgage Trust 2019-1 | 1.75% |
| Bravo Residential Funding Trust 2026-Nqm5 | 1.64% |
HOSIX Portfolio Allocation
Asset-class allocation of Holbrook Structured Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 96.4% |
| Cash & Equivalents | 3.1% |
| Equity | 0.8% |
HOSIX Performance
Total returns for HOSIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.7% |
| 1 year | 6.7% |
| 3 years (annualised) | 8.8% |
HOSIX Risk Information
Risk metrics for HOSIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.5%
HOSIX Costs and Fees
HOSIX costs about $130 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.30%
- Gross expense ratio: 1.30%
- Portfolio turnover: 55%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
HOSIX Cashflows
Over the 12 months to 2026-04, Holbrook Structured Income Fund had net inflows of $121.57M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $30.05M |
| 2026-03 | $25.48M |
| 2026-02 | $7.91M |
| 2026-01 | $21.93M |
| 2025-12 | $19.07M |
| 2025-11 | $10.64M |
HOSIX Debt Constituents
No individual debt constituents are reported in Holbrook Structured Income Fund's latest SEC N-PORT filing.
HOSIX Prospectus and SEC Filings
Official Holbrook Structured Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-08-28
- Prospectus (485BPOS) — filed 2025-08-29
- Prospectus supplement (497) — filed 2024-09-25
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-04-01
- Annual census (N-CEN) — filed 2025-07-11
- Annual census (N-CEN) — filed 2024-07-12
Related Funds
Other Intermediate Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.