Schedule 13G/A Shows Foundations Investment Advisors Exits WCEO Shares

Rhea-AI Filing Summary

Schedule 13G/A (Amendment 6) filed by Foundations Investment Advisors, LLC covers the Hypatia Women CEO ETF, a series of Two Roads Shared Trust (CUSIP 90214Q550). The event date is 06/30/2025 and the filing was signed on 07/08/2025.

• Beneficial ownership: 0 shares.
• Percent of class: 0 %.
• Sole/Shared voting power: 0 / 0.
• Sole/Shared dispositive power: 0 / 0.
• Reporting person classification: Investment Adviser (IA) under Rule 13d-1(b)(1)(ii)(E).

No other group status, subsidiary information, or additional certifications were provided. The certification was executed by Marc Pugsley, CCO. The filing indicates Foundations Investment Advisors now owns <5 % of the ETF’s outstanding shares and has fully exited its position.

Positive

• None.

Negative

• Foundations Investment Advisors now reports 0 % ownership, indicating a complete exit from WCEO.
• The adviser retains no voting or dispositive power, reducing institutional support for the ETF.

Insights

Portfolio Manager

TL;DR – FIA has sold its entire WCEO stake; limited market impact, modestly negative sentiment.

The amendment shows Foundations Investment Advisors, LLC reduced its ownership in Hypatia Women CEO ETF (WCEO) to zero shares, eliminating any voting or dispositive power. As an institutional investor, FIA’s withdrawal removes a prior holder of ≥5 % (implicit from the need to amend a 13G), which can be read as a negative signal for confidence, but the ETF structure lessens direct valuation effects. There are no other material transactions, so overall impact is modest and liquidity-driven rather than fundamental.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Two Roads Shared Trust

(Name of Issuer)

Exchange Traded Product

(Title of Class of Securities)

90214Q550

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 90214Q550

1

Names of Reporting Persons

FOUNDATIONS INVESTMENT ADVISORS, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ARIZONA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Two Roads Shared Trust
(b)	Address of issuer's principal executive offices: 225 Pictoria Drive, Suite 450, Cincinnati, OHIO 45246
Item 2.
(a)	Name of person filing: FOUNDATIONS INVESTMENT ADVISORS, LLC
(b)	Address or principal business office or, if none, residence: 4050 E. COTTON CENTER BLVD. SUITE 40 PHOENIX, Arizona 85040
(c)	Citizenship: FOUNDATIONS INVESTMENT ADVISORS, LLC - ARIZONA
(d)	Title of class of securities: Exchange Traded Product
(e)	CUSIP No.: 90214Q550
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(ii) Shared power to vote or to direct the vote: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(iii) Sole power to dispose or to direct the disposition of: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FOUNDATIONS INVESTMENT ADVISORS, LLC

Signature:	/s/Marc Pugsley
Name/Title:	CCO
Date:	07/08/2025

FAQ

What ownership level did Foundations Investment Advisors report for WCEO in the 07/08/2025 filing?

The firm reported 0 shares, representing 0 % of the class.

What is the CUSIP number referenced in the Schedule 13G/A for Hypatia Women CEO ETF (WCEO)?

The CUSIP number is 90214Q550.

What date triggered the Schedule 13G/A filing for WCEO?

The event date was 06/30/2025.

Does Foundations Investment Advisors have any voting or dispositive power over WCEO shares?

No. Both sole and shared voting and dispositive power are 0.

How is Foundations Investment Advisors classified under Item 3 of the filing?

It is classified as an Investment Adviser (IA) pursuant to Rule 13d-1(b)(1)(ii)(E).