# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-25-002150
**Filing Date:** 2025-6
**Character Count:** 31616
**Document Hash:** ae5183186b20276bfd38bd656c285423
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002150.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0002000324-25-002150

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Spinnaker ETF Series
- **CENTRAL INDEX KEY:** 0001484018

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22398
- **FILM NUMBER:** 251072673

**BUSINESS ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069
- **BUSINESS PHONE:** 252-972-9922

**MAIL ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spinnaker ETF Trust
- **DATE OF NAME CHANGE:** 20100212

## Series and Classes Contracts Data

### Genter Capital International Dividend ETF (Series ID: S000089487)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000256068 | Genter Capital International Dividend ETF | GENW            |

## Nport-Ex

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | XTR_GROUP1 | XTR_GROUP2 | XTR_CATGRY | XTR_CATDSC | XTR_SECTOR | XTR_SECTR1 | XTR_SECTR2 | XTR_CONTRY | XTR_CONDSC | XTR_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | XTR_PRISRC | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 454 | GENTER CAPITAL INTERNATIONAL | BAESY | BAE Systems PLC |  |  | 05523R107 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 93.23 |  |  |  |  |  | BAE Systems PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 609.23 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 433.00 | 27597.09 | 27597.09 | 40368.59 | 40368.59 | 12771.50 | 12771.50 | 1.51 | False | 0.00 | N/A | 5.97 | 5.95 | 5.96 | 0.00 |  |  | BAESY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BTI | British American Tob | acco PLC |  | 110448107 | 1006 | Agriculture |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 43.55 |  |  |  |  |  | British American Tob | acco PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 439.00 | 16321.84 | 16321.84 | 19118.45 | 19118.45 | 2796.61 | 2796.61 | 0.00 | False | 0.00 | N/A | 2.83 | 2.82 | 2.82 | 0.00 |  |  | BTI<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | IMBBY | Imperial Brands PLC |  |  | 45262P102 | 1006 | Agriculture |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 40.97 |  |  |  |  |  | Imperial Brands PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 451.00 | 14634.19 | 14634.19 | 18477.47 | 18477.47 | 3843.28 | 3843.28 | 0.00 | False | 0.00 | N/A | 2.73 | 2.73 | 2.73 | 0.00 |  | 549300DFVPOB67JL3A42 | IMBBY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | HMC | Honda Motor Co Ltd |  |  | 438128308 | 1012 | Auto Manufacturers |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 30.51 |  |  |  |  |  | Honda Motor Co Ltd |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 533.46 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 523.00 | 14877.78 | 14877.78 | 15956.73 | 15956.73 | 1078.95 | 1078.95 | 3.34 | False | 0.00 | N/A | 2.36 | 2.35 | 2.35 | 0.00 |  | 549300P7ZYCQJ36CCS16 | HMC<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | MBGYY | MERCEDES-BENZ GROUP | AG |  | 233825207 | 1012 | Auto Manufacturers |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 14.85 |  |  |  |  |  | Daimler AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 895.00 | 12932.96 | 12932.96 | 13290.75 | 13290.75 | 357.79 | 357.79 | 0.00 | False | 0.00 | N/A | 1.96 | 1.96 | 1.96 | 0.00 |  |  | MBGYY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BBVA | Banco Bilbao Vizcaya | Argentaria SA |  | 05946K101 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | ESP | SPAIN |  | USD | US DOLLAR | 1/0/1900 |  |  | 13.70 |  |  |  |  |  | Banco Bilbao Vizcaya | Argentaria SA |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 852.93 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 1679.00 | 22055.71 | 22055.71 | 23002.30 | 23002.30 | 946.59 | 946.59 | 3.71 | False | 0.00 | N/A | 3.40 | 3.39 | 3.39 | 0.00 |  | K8MS7FD7N5Z2WQ51AZ71 | BBVA<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BCS | Barclays PLC |  |  | 06738E204 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 16.06 |  |  |  |  |  | Barclays PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 661.04 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 1735.00 | 24527.35 | 24527.35 | 27864.10 | 27864.10 | 3336.75 | 3336.75 | 2.37 | False | 0.00 | N/A | 4.12 | 4.11 | 4.11 | 0.00 |  |  | BCS<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BNPQY | BNP Paribas SA |  |  | 05565A202 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 42.20 |  |  |  |  |  | BNP Paribas SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 547.00 | 18096.48 | 18096.48 | 23083.40 | 23083.40 | 4986.92 | 4986.92 | 0.00 | False | 0.00 | N/A | 3.41 | 3.41 | 3.41 | 0.00 |  | R0MUWSFPU8MPRO8K5P83 | BNPQY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | MUFG | Mitsubishi UFJ Finan | cial Group Inc |  | 606822104 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 12.64 |  |  |  |  |  | Mitsubishi UFJ Finan | cial Group Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 568.75 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 2275.00 | 27761.60 | 27761.60 | 28756.00 | 28756.00 | 994.40 | 994.40 | 1.98 | False | 0.00 | N/A | 4.25 | 4.24 | 4.24 | 0.00 |  | 353800V2V8PUY9TK3E06 | MUFG<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | SMFG | Sumitomo Mitsui Fina | ncial Group Inc |  | 86562M209 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 14.20 |  |  |  |  |  | Sumitomo Mitsui Fina | ncial Group Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 696.87 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 1963.00 | 28938.14 | 28938.14 | 27874.60 | 27874.60 | -1063.54 | -1063.54 | 2.50 | False | 0.00 | N/A | 4.12 | 4.11 | 4.11 | 0.00 |  | 35380028MYWPB6AUO129 | SMFG<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | NMR | Nomura Holdings Inc |  |  | 65535H208 | 1033 | Diversified Finan Se | rv | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 5.55 |  |  |  |  |  | Nomura Holdings Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 403.06 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 2879.00 | 18626.93 | 18626.93 | 15978.45 | 15978.45 | -2648.48 | -2648.48 | 2.52 | False | 0.00 | N/A | 2.36 | 2.36 | 2.36 | 0.00 |  | 549300B3CEAHYG7K8164 | NMR<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | IX | ORIX Corp |  |  | 686330101 | 1033 | Diversified Finan Se | rv | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 20.06 |  |  |  |  |  | ORIX Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1910.08 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 635.00 | 13124.01 | 13124.01 | 12738.10 | 12738.10 | -385.91 | -385.91 | 15.00 | False | 0.00 | N/A | 1.88 | 1.88 | 1.88 | 0.00 |  | 35380016EMHNBOVYE123 | IX<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ENLAY | Enel SpA |  |  | 29265W207 | 1034 | Electric |  | COMMSTCK | COMMON STOCK |  |  |  | ITL | ITALY |  | USD | US DOLLAR | 1/0/1900 |  |  | 8.67 |  |  |  |  |  | Enel SpA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 2759.00 | 20108.65 | 20108.65 | 23920.53 | 23920.53 | 3811.88 | 3811.88 | 0.00 | False | 0.00 | N/A | 3.54 | 3.53 | 3.53 | 0.00 |  | WOCMU6HCI0OJWNPRZS33 | ENLAY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | SBGSY | Schneider Electric S | E |  | 80687P106 | 1035 | Electrical Compo&Equ | ip | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 46.27 |  |  |  |  |  | Schneider Electric S | E |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 219.15 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 319.00 | 16569.76 | 16569.76 | 14760.13 | 14760.13 | -1809.63 | -1809.63 | 1.48 | False | 0.00 | N/A | 2.18 | 2.18 | 2.18 | 0.00 |  | 969500A1YF1XUYYXS284 | SBGSY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | CKHUY | CK Hutchison Holding | s Ltd |  | 12562Y100 | 1047 | Food & Drug Stores |  | COMMSTCK | COMMON STOCK |  |  |  | HKD | HONG KONG |  | USD | US DOLLAR | 1/0/1900 |  |  | 5.61 |  |  |  |  |  | CK Hutchison Holding | s Ltd |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 2125.00 | 11341.11 | 11341.11 | 11921.25 | 11921.25 | 580.14 | 580.14 | 0.00 | False | 0.00 | N/A | 1.76 | 1.76 | 1.76 | 0.00 |  | 254900Z8HM1VEPOQ2G79 | CKHUY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ADRNY | Koninklijke Ahold De | lhaize NV |  | 500467501 | 1047 | Food & Drug Stores |  | COMMSTCK | COMMON STOCK |  |  |  | NLG | NETHERLANDS |  | USD | US DOLLAR | 1/0/1900 |  |  | 41.02 |  |  |  |  |  | Koninklijke Ahold De | lhaize NV |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 559.00 | 19556.44 | 19556.44 | 22930.18 | 22930.18 | 3373.74 | 3373.74 | 0.00 | False | 0.00 | N/A | 3.39 | 3.38 | 3.38 | 0.00 |  | 724500C9GNBV20UYRX36 | ADRNY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | NGG | National Grid PLC |  |  | 636274409 | 1052 | UNKNOWN - AUTOLOADED |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 73.00 |  |  |  |  |  | National Grid PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 937.04 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 265.00 | 15774.63 | 15774.63 | 19345.00 | 19345.00 | 3570.37 | 3570.37 | 4.84 | False | 0.00 | N/A | 2.86 | 2.85 | 2.85 | 0.00 |  |  | NGG<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ALIZY | Allianz SE |  |  | 018820100 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 41.31 |  |  |  |  |  | Allianz SE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 595.00 | 19220.68 | 19220.68 | 24579.45 | 24579.45 | 5358.77 | 5358.77 | 0.00 | False | 0.00 | N/A | 3.63 | 3.63 | 3.63 | 0.00 |  | 529900K9B0N5BT694847 | ALIZY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | AXAHY | AXA SA |  |  | 054536107 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 47.47 |  |  |  |  |  | AXA SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 906.31 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 487.00 | 18032.68 | 18032.68 | 23117.89 | 23117.89 | 5085.21 | 5085.21 | 3.92 | False | 0.00 | N/A | 3.42 | 3.41 | 3.41 | 0.00 |  |  | AXAHY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | MFC | Manulife Financial C | orp |  | 56501R106 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  | USD | US DOLLAR | 1/0/1900 |  |  | 30.62 |  |  |  |  |  | Manulife Financial C | orp |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 789.86 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 541.00 | 16294.30 | 16294.30 | 16565.42 | 16565.42 | 271.12 | 271.12 | 4.77 | False | 0.00 | N/A | 2.45 | 2.44 | 2.44 | 0.00 |  | 5493007GBX87QOZACS27 | MFC<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | KMTUY | Komatsu Ltd |  |  | 500458401 | 1070 | Machinery-Constr&Min |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 28.89 |  |  |  |  |  | Komatsu Ltd |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 385.00 | 10670.35 | 10670.35 | 11122.65 | 11122.65 | 452.30 | 452.30 | 0.00 | False | 0.00 | N/A | 1.64 | 1.64 | 1.64 | 0.00 |  | 5493004LQ0B4T7QPQV17 | KMTUY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | RIO | Rio Tinto PLC |  |  | 767204100 | 1075 | Mining |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 59.40 |  |  |  |  |  | Rio Tinto PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 968.82 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 241.00 | 14655.46 | 14655.46 | 14315.40 | 14315.40 | -340.06 | -340.06 | 6.77 | False | 0.00 | N/A | 2.12 | 2.11 | 2.11 | 0.00 |  |  | RIO<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | AZN | AstraZeneca PLC |  |  | 046353108 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 71.79 |  |  |  |  |  | AstraZeneca PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 436.45 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 301.00 | 20585.22 | 20585.22 | 21608.79 | 21608.79 | 1023.57 | 1023.57 | 2.02 | False | 0.00 | N/A | 3.19 | 3.19 | 3.19 | 0.00 |  |  | AZN | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | NVS | Novartis AG |  |  | 66987V109 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | CHF | SWITZERLAND |  | USD | US DOLLAR | 1/0/1900 |  |  | 113.49 |  |  |  |  |  | Novartis AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 591.33 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 169.00 | 16871.35 | 16871.35 | 19179.81 | 19179.81 | 2308.46 | 2308.46 | 3.08 | False | 0.00 | N/A | 2.83 | 2.83 | 2.83 | 0.00 |  |  | NVS<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | SNY | Sanofi |  |  | 80105N105 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 54.95 |  |  |  |  |  | Sanofi |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 571.90 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 301.00 | 15557.98 | 15557.98 | 16539.95 | 16539.95 | 981.97 | 981.97 | 3.46 | False | 0.00 | N/A | 2.44 | 2.44 | 2.44 | 0.00 |  |  | SNY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ENB | Enbridge Inc |  |  | 29250N105 | 1089 | Pipelines |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  | USD | US DOLLAR | 1/0/1900 |  |  | 46.69 |  |  |  |  |  | Enbridge Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1963.15 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 553.00 | 24335.09 | 24335.09 | 25819.57 | 25819.57 | 1484.48 | 1484.48 | 7.60 | False | 0.00 | N/A | 3.82 | 3.81 | 3.81 | 0.00 |  |  | ENB<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | PBA | Pembina Pipeline Cor | p |  | 706327103 | 1089 | Pipelines |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  | USD | US DOLLAR | 1/0/1900 |  |  | 38.20 |  |  |  |  |  | Pembina Pipeline Cor | p |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1229.27 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 463.00 | 17360.70 | 17360.70 | 17686.60 | 17686.60 | 325.90 | 325.90 | 6.95 | False | 0.00 | N/A | 2.61 | 2.61 | 2.61 | 0.00 |  |  | PBA<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ORANY | Orange SA |  |  | 684060106 | 1104 | Telecommunications |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 14.46 |  |  |  |  |  | Orange SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1167.81 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 1555.00 | 16713.08 | 16713.08 | 22485.30 | 22485.30 | 5772.22 | 5772.22 | 5.19 | False | 0.00 | N/A | 3.32 | 3.32 | 3.32 | 0.00 |  | 969500MCOONR8990S771 | ORANY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ERIC | Telefonaktiebolaget | LM Ericsson |  | 294821608 | 1104 | Telecommunications |  | COMMSTCK | COMMON STOCK |  |  |  | SEK | SWEDEN |  | USD | US DOLLAR | 1/0/1900 |  |  | 8.24 |  |  |  |  |  | Telefonaktiebolaget | LM Ericsson |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 681.84 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 2695.00 | 22599.68 | 22599.68 | 22206.80 | 22206.80 | -392.88 | -392.88 | 3.07 | False | 0.00 | N/A | 3.28 | 3.28 | 3.28 | 0.00 |  |  | ERIC<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | VOD | Vodafone Group PLC |  |  | 92857W308 | 1104 | Telecommunications |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 9.76 |  |  |  |  |  | Vodafone Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1896.34 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 1939.00 | 16669.15 | 16669.15 | 18924.64 | 18924.64 | 2255.49 | 2255.49 | 10.02 | False | 0.00 | N/A | 2.80 | 2.79 | 2.79 | 0.00 |  |  | VOD<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BP | BP PLC |  |  | 055622104 | A60A | Oil&Gas |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 27.46 |  |  |  |  |  | BP PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 861.32 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 517.00 | 16447.43 | 16447.43 | 14196.82 | 14196.82 | -2250.61 | -2250.61 | 6.07 | False | 0.00 | N/A | 2.10 | 2.09 | 2.09 | 0.00 |  |  | BP<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ABBNY | ABB Limited |  |  | 000375204 | C50C | Industrial Component |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES |  | USD | US DOLLAR | 1/0/1900 |  |  | 52.61 |  |  |  |  |  | ABB Limited |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 381.39 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 415.00 | 22770.35 | 22770.35 | 21833.15 | 21833.15 | -937.20 | -937.20 | 1.75 | False | 0.00 | N/A | 3.23 | 3.22 | 3.22 | 0.00 |  |  | ABBNY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | FGTXX | Goldman Sachs Financ | ial Square Funds - G |  | 38141W273 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES<br> IL | ILLINOIS | USD | US DOLLAR | 5/1/2025 |  |  | 100.00 |  |  |  |  |  | Goldman Sachs Financ | ial Square Funds - G |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1148.34 | L<br> N |  |  | 4/30/2025<br> C |  | 454;USD | USD | 27072.03 | 27072.03 | 27072.03 | 27072.03 | 27072.03 | 0.00 | 0.00 | 4.24 | False | 4.23 |  | 4.00 | 3.99 | 3.99 | 0.00 |  |  | FGTXX<br> N | AC |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SPINNAKER ETF SERIES

- **b. Investment Company Act file number:** 811-22398

- **c. CIK number of Registrant:** 0001484018

- **d. LEI of Registrant:** 54930056GHDI2JOI6X90

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 116 SOUTH FRANKLIN STREET

  - **City:** ROCKY MOUNT

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 27804-5707

  - **Telephone number:** 252-972-9922

**Item A.2. Information about the Series.**

- **a. Name of Series:** Genter Capital International Dividend ETF

- **b. EDGAR series identifier (if any):** S000089487

- **c. LEI of Series:** 5299004W7Z2IIJSMBS90

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-04-30

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $677920.93

**Total Liabilities:** $186.08

**Net Assets:** $677734.85

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256068 | 2.94%                | 3.41%                | 2.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3059.57                | $16983.04                                  |
| Month 2  | $0.00                    | $16756.63                                  |
| Month 3  | $0.00                    | $14933.38                                  |

### Schedule of Portfolio Investments

| Name                 | Title    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABB Limited          | COMMSTCK | CUSIP: 000375204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       415 | NS      | $21833.15     | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold De | COMMSTCK | CUSIP: 500467501<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |       559 | NS      | $22930.18     | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE           | COMMSTCK | CUSIP: 018820100<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |       595 | NS      | $24579.45     | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA               | COMMSTCK | CUSIP: 054536107<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       487 | NS      | $23117.89     | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC      | COMMSTCK | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       301 | NS      | $21608.79     | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC      | COMMSTCK | CUSIP: 05523R107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       433 | NS      | $40368.59     | 5.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya | COMMSTCK | CUSIP: 05946K101<br>LEI: N/A                  | Long             | EC               | CORP              | ES        |      1679 | NS      | $23002.30     | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC         | COMMSTCK | CUSIP: 06738E204<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      1735 | NS      | $27864.10     | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA       | COMMSTCK | CUSIP: 05565A202<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       547 | NS      | $23083.40     | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC               | COMMSTCK | CUSIP: 055622104<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       517 | NS      | $14196.82     | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tob | COMMSTCK | CUSIP: 110448107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       439 | NS      | $19118.45     | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Hutchison Holding | COMMSTCK | CUSIP: 12562Y100<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |      2125 | NS      | $11921.25     | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc         | COMMSTCK | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |       553 | NS      | $25819.57     | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA             | COMMSTCK | CUSIP: 29265W207<br>LEI: N/A                  | Long             | EC               | CORP              | IT        |      2759 | NS      | $23920.53     | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget  | COMMSTCK | CUSIP: 294821608<br>LEI: N/A                  | Long             | EC               | CORP              | SE        |      2695 | NS      | $22206.80     | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd   | COMMSTCK | CUSIP: 438128308<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       523 | NS      | $15956.73     | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC  | COMMSTCK | CUSIP: 45262P102<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       451 | NS      | $18477.47     | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX Corp            | COMMSTCK | CUSIP: 686330101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       635 | NS      | $12738.10     | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd          | COMMSTCK | CUSIP: 500458401<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       385 | NS      | $11122.65     | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCEDES-BENZ GROUP  | COMMSTCK | CUSIP: 233825207<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |       895 | NS      | $13290.75     | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial C | COMMSTCK | CUSIP: 56501R106<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       541 | NS      | $16565.42     | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Finan | COMMSTCK | CUSIP: 606822104<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2275 | NS      | $28756.00     | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC    | COMMSTCK | CUSIP: 636274409<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       265 | NS      | $19345.00     | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Holdings Inc  | COMMSTCK | CUSIP: 65535H208<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2879 | NS      | $15978.45     | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG          | COMMSTCK | CUSIP: 66987V109<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |       169 | NS      | $19179.81     | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA            | COMMSTCK | CUSIP: 684060106<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |      1555 | NS      | $22485.30     | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Cor | COMMSTCK | CUSIP: 706327103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       463 | NS      | $17686.60     | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC        | COMMSTCK | CUSIP: 767204100<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       241 | NS      | $14315.40     | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric S | COMMSTCK | CUSIP: 80687P106<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       319 | NS      | $14760.13     | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Fina | COMMSTCK | CUSIP: 86562M209<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1963 | NS      | $27874.60     | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi               | COMMSTCK | CUSIP: 80105N105<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       301 | NS      | $16539.95     | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC   | COMMSTCK | CUSIP: 92857W308<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      1939 | NS      | $18924.64     | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financ | MONEYMKT | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             |  | US        |     27072 | NS      | $27072.03     | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-17

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

**Title:** Principal Accounting Officer/Principal Financial Officer