NPORT-P false 0001484018 XXXXXXXX S000067575 C000217293 SPINNAKER ETF SERIES 811-22398 0001484018 54930056GHDI2JOI6X90 116 SOUTH FRANKLIN STREET ROCKY MOUNT 27804-5707 252-972-9922 Trajan Wealth Income Opportunities ETF S000067575 549300WYHPPSSN255520 2023-09-30 2022-12-31 N 26199420.12 721288.45 25478131.67 0 0 0 0 0 0 0 0 0 0 0 0 0 0 USD N N/A N/A American Internation ODVCVCQG2BP6VHV36M30 026874784 8413 NS USD 532038.12 0.02 Long EC CORP US N 1 N N N Atlas Corp 213800ZIRB79BE5XQM68 Y0436Q109 40790 NS USD 625718.6 0.02 Long EC CORP MH N 1 N N N Broadcom Inc N/A 11135F101 803 NS USD 448981.39 0.02 Long EC CORP US N 1 N N N Bunge Ltd 5493007M0RIN8HY3MM77 G16962105 4719 NS USD 470814.63 0.02 Long EC CORP US N 1 N N N Black Hills Corp 3MGELCRSTNSAMJ962671 092113109 6619 NS USD 465580.46 0.02 Long EC CORP US N 1 N N N Bristol-Myers Squibb HLYYNH7UQUORYSJQCN42 110122108 7018 NS USD 504945.1 0.02 Long EC CORP US N 1 N N N Blackstone Inc. N/A 09260D107 3843 NS USD 285112.17 0.01 Long EC CORP US N 1 N N N Flowers Foods Inc. 7YNCQQNDK8FBM9BBTK25 343498101 17764 NS USD 510537.36 0.02 Long EC CORP US N 1 N N N Medical Properties T 254900U6E39J1MQCCY14 58463J304 30215 NS USD 336595.1 0.01 Long EC CORP US N 1 N N N Realty Income Corp N/A 756109104 6771 NS USD 429484.53 0.02 Long EC CORP US N 1 N N N OGE Energy Corp CE5OG6JPOZMDSA0LAQ19 670837103 11967 NS USD 473294.85 0.02 Long EC CORP US N 1 N N N Sonoco Products Co GKOMIK4RDJGHEF0VNP11 835495102 8059 NS USD 489261.89 0.02 Long EC CORP US N 1 N N N VF Corp N/A 918204108 10918 NS USD 301445.98 0.01 Long EC CORP US N 1 N N N Valero Energy Corp 549300XTO5VR8SKV1V74 91913Y100 4236 NS USD 537378.96 0.02 Long EC CORP US N 1 N N N Williams Cos Inc/The N/A 969457100 15267 NS USD 502284.3 0.02 Long EC CORP US N 1 N N N Zions Bancorporation N/A 989701107 7162 NS USD 352083.92 0.01 Long EC CORP US N 1 N N N US AIRWAYS 2013-1A P IWUQB36BXD6OWD6X4T14 90346WAA1 243496.7 NS USD 221886.35 0.01 Long DBT CORP US N 2 2025-11-15 Fixed 3.95 N N N N N N BUCKEYE PARTNERS 549300C1PQJLVEIUBK50 118230AM3 934000 NS USD 695830 0.03 Long DBT CORP US N 2 2043-11-15 Fixed 5.85 N N N N N N CLEVELAND CLINIC FOU 5493005LGDPOFHUC6Z36 18600TAA0 569200 NS USD 495325.81 0.02 Long DBT CORP US N 2 2114-01-01 Fixed 4.86 N N N N N N FREEPORT-MCMORAN INC 549300IRDTHJQ1PVET45 35671DBC8 722000 NS USD 651605 0.03 Long DBT CORP US N 2 2043-03-15 Fixed 5.45 N N N N N N HP INC WHKXQACZ14C5XRO8LW03 428236BR3 665600 NS USD 641504.61 0.03 Long DBT CORP US N 2 2041-09-15 Fixed 6 N N N N N N MOTIVA ENTERPRISES UQZ4EDMHL4ZESPZY3752 61980AAD5 650000 NS USD 645680.75 0.03 Long DBT CORP US N 2 2040-01-15 Fixed 6.85 N N N N N N OLIN CORP 549300GKK294V7W57P06 680665AK2 845200 NS USD 771245 0.03 Long DBT CORP US N 2 2030-02-01 Fixed 5 N N N N N N T MOBILE USA 549300V2JRLO5DIFGE82 87264ABY0 824800 NS USD 549541.97 0.02 Long DBT CORP US N 2 2060-11-15 Fixed 3.6 N N N N N N VALMONT INDUSTRIES 5493009ZGZJJ8F77JN08 920253AE1 636800 NS USD 545568.85 0.02 Long DBT CORP US N 2 2054-10-01 Fixed 5.25 N N N N N N Money Market Fiducia N/A SF8888528 4169025.7 NS USD 4169025.74 0.16 Long STIV US N 1 N N N ARBOR REALTY TRUST N/A 038923850 31676 NS USD 573652.36 0.02 Long EP CORP US N 2 N N N FARMER MAC N/A 313148843 28599 NS USD 546255.2 0.02 Long EP CORP US N 2 N N N ASPEN INSURANCE HLDG N/A G05384162 26672 NS USD 481963.04 0.02 Long EP CORP US N 2 N N N Athene Holding Ltd N/A G0684D305 21457 NS USD 460252.65 0.02 Long EP CORP US N 2 N N N COSTAMARE INC N/A Y1771G201 16207 NS USD 411009.52 0.02 Long EP CORP US N 2 N N N COMPASS DIVERSIF HOL N/A 20451Q401 23978 NS USD 547177.96 0.02 Long EP CORP US N 2 N N N DIME COMMUNITY BANCS N/A 25432X201 34671 NS USD 640373.37 0.03 Long EP CORP US N 2 N N N DYNEX CAPITAL INC N/A 26817Q878 26180 NS USD 570985.8 0.02 Long EP CORP US N 2 N N N FTAI Aviation Ltd N/A G3730V113 30785 NS USD 692662.5 0.03 Long EP CORP KY N 2 N N N SUMMIT HOTEL PROPERT N/A 866082605 30021 NS USD 548783.88 0.02 Long EP CORP US N 2 N N N INVESCO MORTGAGE CAP N/A 46131B407 27507 NS USD 541337.76 0.02 Long EP CORP US N 2 N N N KKR Real Estate Fina N/A 48251K209 31368 NS USD 517572 0.02 Long EP CORP US N 2 N N N ANNALY CAPITAL MGMT N/A 035710847 22425 NS USD 501423 0.02 Long EP CORP US N 2 N N N Pebblebrook Hotel N/A 70509V803 24950 NS USD 454090 0.02 Long EP CORP US N 2 N N N PLYMOUTH INDUSTRIAL N/A 729640201 15686 NS USD 391836.28 0.02 Long EP CORP US N 2 N N N SCORPIO TANKERS INC N/A 80918T208 31513 NS USD 777331.17 0.03 Long EP CORP US N 2 N N N Seapeak LLC N/A Y8564M204 30580 NS USD 685603.6 0.03 Long EP CORP US N 2 N N N 2023-02-09 Spinnaker ETF Series Ashley Lanham Ashley Lanham Principal Accounting Officer/Principal Financial Officer XXXX