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 2024-09-30 2024-06-30 N 32102915.26 392503.2 31710412.06 0 0 0 0 0 0 0 0 0 0 0 0 0 0 USD N BALLY 2021-1A A1 N/A 05875TAA5 310000 NS USD 310517.33 0.98 Long ABS-MBS CORP KY N 2 2034-04-15 Variable 6.62 N N N N N N DRSLF 2019-75A AR2 N/A 26252JAS7 500000 NS USD 500138.65 1.58 Long ABS-MBS CORP KY N 2 2034-04-15 Variable 6.6 N N N N N N ELM15 2022-2A A1 N/A 29003JAC8 250000 NS USD 250471.6 0.79 Long ABS-MBS CORP JE N 2 2035-04-22 Variable 6.62 N N N N N N FR SD8288 N/A 3132DWF57 335014.1 NS USD 324654.85 1.02 Long ABS-MBS CORP US N 2 2053-01-01 Fixed 5 N N N N N N FR SD8343 N/A 3132DWHU0 1097957 NS USD 1102692.55 3.48 Long ABS-MBS CORP US N 2 2053-07-01 Fixed 6 N N N N N N OAKCL 2021-1A A1 N/A 67402JAA9 400000 NS USD 400165.8 1.26 Long ABS-MBS CORP KY N 2 2034-07-15 Variable 6.72 N N N N N N AbbVie Inc FR5LCKFTG8054YNNRU85 00287Y109 3260 NS USD 559155.2 1.76 Long EC CORP US N 1 N N N American Internation ODVCVCQG2BP6VHV36M30 026874784 8210 NS USD 609510.4 1.92 Long EC CORP US N 1 N N N Bunge Ltd 5493007M0RIN8HY3MM77 H11356104 5943 NS USD 634534.11 2 Long EC CORP US N 1 N N N Black Hills Corp 3MGELCRSTNSAMJ962671 092113109 11390 NS USD 619388.2 1.95 Long EC CORP US N 1 N N N Blackstone Inc. N/A 09260D107 4316 NS USD 534320.8 1.69 Long EC CORP US N 1 N N N Citigroup Inc N/A 172967424 12604 NS USD 799849.84 2.52 Long EC CORP US N 1 N N N FS KKR CAPITAL N/A 302635206 28325 NS USD 558852.25 1.76 Long EC CORP US N 1 N N N International VGRQXHF3J8VDLUA7XE92 459200101 4269 NS USD 738323.55 2.33 Long EC CORP US N 1 N N N KELLANOVA LONOZNOJYIBXOHXWDB86 487836108 8495 NS USD 489991.6 1.55 Long EC CORP US N 1 N N N Coca-Cola Co/The N/A 191216100 8325 NS USD 529886.25 1.67 Long EC CORP US N 1 N N N OGE Energy Corp CE5OG6JPOZMDSA0LAQ19 670837103 18963 NS USD 676979.1 2.13 Long EC CORP US N 1 N N N Public Storage N/A 74460D109 1750 NS USD 503387.5 1.59 Long EC CORP US N 1 N N N Star Bulk Carriers C N/A Y8162K204 31700 NS USD 772846 2.44 Long EC CORP GR N 1 N N N Sonoco Products Co GKOMIK4RDJGHEF0VNP11 835495102 11792 NS USD 598090.24 1.89 Long EC CORP US N 1 N N N Valero Energy Corp 549300XTO5VR8SKV1V74 91913Y100 3594 NS USD 563395.44 1.78 Long EC CORP US N 1 N N N Verizon Communicatio 2S72QS2UO2OESLG6Y829 92343V104 17973 NS USD 741206.52 2.34 Long EC CORP US N 1 N N N Williams Cos Inc/The N/A 969457100 14005 NS USD 595212.5 1.88 Long EC CORP US N 1 N N N Exxon Mobil Corp J3WHBG0MTS7O8ZVMDC91 30231G102 5053 NS USD 581701.36 1.83 Long EC CORP US N 1 N N N HCA INC N/A 404119CA5 500000 NS USD 452500 1.43 Long DBT CORP US N 2 2030-09-01 Fixed 3.5 N N N N N N JPMORGAN CHASE N/A 46647PBP0 500000 NS USD 437410.5 1.38 Long DBT CORP US N 2 2031-05-13 Variable 2.96 N N N N N N MERRILL LYNCH N/A 59022CAJ2 500000 NS USD 520299.5 1.64 Long DBT CORP US N 2 2037-01-29 Fixed 6.11 N N N N N N TENET HEALTHCARE N/A 88033GDU1 500000 NS USD 508750 1.6 Long DBT CORP US N 2 2031-05-15 Fixed 6.75 N N N N N N WELLS FARGO CO N/A 95000U2U6 500000 NS USD 433361 1.37 Long DBT CORP US N 2 2033-03-02 Variable 3.35 N N N N N N US AIRWAYS 2013-1A P IWUQB36BXD6OWD6X4T14 90346WAA1 362008 NS USD 352073.38 1.11 Long DBT CORP US N 2 2025-11-15 Fixed 3.95 N N N N N N BUCKEYE PARTNERS 549300C1PQJLVEIUBK50 118230AM3 1000000 NS USD 850000 2.68 Long DBT CORP US N 2 2043-11-15 Fixed 5.85 N N N N N N FREEPORT-MCMORAN INC 549300IRDTHJQ1PVET45 35671DBC8 1000000 NS USD 946250 2.98 Long DBT CORP US N 2 2043-03-15 Fixed 5.45 N N N N N N MOTIVA ENTERPRISES UQZ4EDMHL4ZESPZY3752 61980AAD5 1000000 NS USD 1052771 3.32 Long DBT CORP US Y 2 2040-01-15 Fixed 6.85 N N N N N N FED FARM CREDIT N/A 3133EEKC3 52000 NS USD 41668.8 0.13 Long DBT US N 2 2044-01-20 Fixed 3.45 N N N N N N FED FARM CREDIT N/A 3133EJCQ0 52000 NS USD 45017.8 0.14 Long DBT US N 2 2038-02-16 Fixed 3.44 N N N N N N FED FARM CREDIT N/A 3133EJFF1 52000 NS USD 42977.32 0.14 Long DBT US N 2 2044-03-07 Fixed 3.66 N N N N N N FED FARM CREDIT N/A 3133ENCF5 150000 NS USD 96868.95 0.31 Long DBT US N 2 2046-10-26 Fixed 2.55 N N N N N N FED HOME LN BANK N/A 3130AHMZ3 240000 NS USD 177423.84 0.56 Long DBT US N 2 2039-12-09 Fixed 2.5 N N N N N N FR QF9985 5.5% N/A 3133BYCW7 939435.3 NS USD 930710.85 2.94 Long DBT US N 2 2053-04-01 Fixed 5.5 N N N N N N FN BS6571 N/A 3140LHJR2 500000 NS USD 492041.55 1.55 Long DBT USGA US N 2 2032-11-01 Fixed 4.71 N N N N N N FN CB5124 N/A 3140QQVS1 471567.4 NS USD 445633.91 1.41 Long DBT USGA US N 2 2052-11-01 Fixed 4.5 N N N N N N FN FS5175 N/A 3140XLXD5 965942.6 NS USD 935798.6 2.95 Long DBT USGA US N 2 2053-05-01 Fixed 5 N N N N N N Goldman Sachs Financ N/A 38141W273 442689.6 NS USD 442689.63 1.4 Long STIV US N 1 N N N FARMER MAC N/A 313148843 27260 NS USD 576276.4 1.82 Long EP CORP US N 2 N N N ASPEN INSURANCE HLDG N/A G05384162 28504 NS USD 572075.28 1.8 Long EP CORP US N 2 N N N ALLSTATE CORP N/A 020002838 25439 NS USD 555587.76 1.75 Long EP CORP US N 2 N N N Athene Holding Ltd N/A 04686J861 24164 NS USD 582835.68 1.84 Long EP CORP US N 2 N N N COSTAMARE INC N/A Y1771G110 8820 NS USD 227556 0.72 Long EP CORP MC N 2 N N N COSTAMARE INC N/A Y1771G201 18385 NS USD 468633.65 1.48 Long EP CORP US N 2 N N N CMS ENERGY N/A 125896852 22993 NS USD 554591.16 1.75 Long EP CORP US N 2 N N N COMPASS DIVERSIF HOL N/A 20451Q401 24413 NS USD 598850.89 1.89 Long EP CORP US N 2 N N N FTAI Aviation Ltd N/A G3730V113 22901 NS USD 573212.03 1.81 Long EP CORP KY N 2 N N N SCORPIO TANKERS INC N/A 80918T208 23438 NS USD 588293.8 1.86 Long EP CORP US N 2 N N N Seapeak LLC N/A Y8564M204 23455 NS USD 591300.55 1.86 Long EP CORP US N 2 N N N AT&T INC N/A 00206R508 26879 NS USD 566609.32 1.79 Long EP CORP US N 2 N N N US TREASURY N/B N/A 91282CJQ5 750000 NS USD 725390.63 2.29 Long DBT UST US N 2 2030-12-31 Fixed 3.75 N N N N N N US TREASURY N/B N/A 91282CJR3 500000 NS USD 487578.1 1.54 Long DBT UST US N 2 2028-12-31 Fixed 3.75 N N N N N N US TREASURY N/B N/A 91282CJT9 1000000 NS USD 985625 3.11 Long DBT UST US N 2 2027-01-15 Fixed 4 N N N N N N 2024-08-16 Spinnaker ETF Series Pete Mccabe Pete Mccabe Principal Accounting Officer/Principal Financial Officer XXXX