# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-26-002035
**Filing Date:** 2026-5
**Character Count:** 129113
**Document Hash:** 570d13f80b42ef9c4eb45532a87de532
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-002035.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0002000324-26-002035

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20260331

**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:** 261015192

**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

### Obra Defensive High Yield ETF (Series ID: S000089384)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000255906 | Obra Defensive High Yield ETF | ODHY            |

## Nport-Ex

---

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| 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_STATE | 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 |
| 455 | OBRA DEFENSIVE HIGH YIELD | 68245XAJ | 1011778 BC ULC / | 01/15/2028 4.375000% |  | 68245XAJ8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 1/15/2028 |  |  | 98.75 |  |  |  |  |  | 1011778 BC ULC / | 01/15/2028 4.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2187.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 49187.50 | 49416.40 | 49375.00 | 49375.00 | -41.40 | -41.40 | 4.43 | False | 5.11 |  | 0.99 | 0.97 | 0.98 | 0.00 |  | 549300RHSHNRWI5LLA86 | 68245XAJ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00404AAP | ACADIA HEALTH | 04/15/2029 5.000000% |  | 00404AAP4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 4/15/2029 |  |  | 97.38 |  |  |  |  |  | ACADIA HEALTH | 04/15/2029 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 38750.00 | 38980.73 | 38950.00 | 38950.00 | -30.73 | -30.73 | 5.13 | False | 5.96 |  | 0.78 | 0.77 | 0.77 | 0.00 |  | 5493005CW985Y9D0NC11 | 00404AAP<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00489LAL | ACRISURE LLC | 11/06/2030 7.500000% |  | 00489LAL7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 11/6/2030 |  |  | 99.88 |  |  |  |  |  | ACRISURE LLC | 11/06/2030 7.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2625.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36225.00 | 36001.55 | 34956.25 | 34956.25 | -1045.30 | -1045.30 | 7.51 | False | 7.53 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | 254900QBKK4WBSO3GE51 | 00489LAL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00687YAB | ADIENT GLOBAL HO | 04/15/2028 7.000000% |  | 00687YAB1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | JE | JERSEY |  |  | USD | US DOLLAR | 4/15/2028 |  |  | 101.31 |  |  |  |  |  | ADIENT GLOBAL HO | 04/15/2028 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2800.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41221.20 | 40724.46 | 40525.12 | 40525.12 | -199.34 | -199.34 | 6.91 | False | 6.30 |  | 0.81 | 0.80 | 0.80 | 0.00 |  | 213800VA38VCKE6M8790 | 00687YAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 74166NAA | ADT CORP | 07/15/2032 4.875000% |  | 74166NAA2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 7/15/2032 |  |  | 93.63 |  |  |  |  |  | ADT CORP | 07/15/2032 4.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2437.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 48062.50 | 48234.52 | 46812.50 | 46812.50 | -1422.02 | -1422.02 | 5.21 | False | 6.11 |  | 0.94 | 0.92 | 0.93 | 0.00 |  | 5493009JEEDYLVRA0J13 | 74166NAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00790RAB | ADVANCED DRAINAG | 06/15/2030 6.375000% |  | 00790RAB0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 6/15/2030 |  |  | 101.00 |  |  |  |  |  | ADVANCED DRAINAG | 06/15/2030 6.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3187.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 51125.00 | 50884.73 | 50500.00 | 50500.00 | -384.73 | -384.73 | 6.31 | False | 6.10 |  | 1.01 | 0.99 | 1.00 | 0.00 |  | 6QQTOZ5MF5DHM7K92I60 | 00790RAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 01309QAD | ALBERTSONS COS | 03/31/2034 5.750000% |  | 01309QAD0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 3/31/2034 |  |  | 98.25 |  |  |  |  |  | ALBERTSONS COS | 03/31/2034 5.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2300.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39856.80 | 39901.05 | 39300.00 | 39300.00 | -601.05 | -601.05 | 5.85 | False | 6.03 |  | 0.79 | 0.77 | 0.78 | 0.00 |  | 254900QBKK4WBSO3GE51 | 01309QAD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 01330AAA | ALBION FINANCING | 05/21/2030 7.000000% |  | 01330AAA4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | LUX | LUXEMBOURG |  |  | USD | US DOLLAR | 5/21/2030 |  |  | 102.17 |  |  |  |  |  | ALBION FINANCING | 05/21/2030 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2450.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35831.25 | 35776.17 | 35759.45 | 35759.45 | -16.72 | -16.72 | 6.85 | False | 6.39 |  | 0.71 | 0.70 | 0.71 | 0.00 |  | 254900QBKK4WBSO3GE51 | 01330AAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 019576AD | ALLIED UNIVERSAL | 02/15/2031 7.875000% |  | 019576AD9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/15/2031 |  |  | 103.00 |  |  |  |  |  | ALLIED UNIVERSAL | 02/15/2031 7.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2362.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 31473.00 | 31341.41 | 30900.00 | 30900.00 | -441.41 | -441.41 | 7.65 | False | 7.13 |  | 0.62 | 0.61 | 0.61 | 0.00 |  | 98450038B4549046D794 | 019576AD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 019736AG | ALLISON TRANS | 01/30/2031 3.750000% |  | 019736AG2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IN | INDIANA | USD | US DOLLAR | 1/30/2031 |  |  | 93.25 |  |  |  |  |  | ALLISON TRANS | 01/30/2031 3.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1875.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 46125.00 | 46874.05 | 46625.00 | 46625.00 | -249.05 | -249.05 | 4.02 | False | 5.35 |  | 0.93 | 0.92 | 0.92 | 0.00 |  | MWKQ3I0U1GXP2YDSZW75 | 019736AG<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 02406PBC | AMER AXLE & MFG | 10/15/2032 6.375000% |  | 02406PBC3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 10/15/2032 |  |  | 98.38 |  |  |  |  |  | AMER AXLE & MFG | 10/15/2032 6.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1593.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24973.00 | 24974.31 | 24593.75 | 24593.75 | -380.56 | -380.56 | 6.48 | False | 6.69 |  | 0.49 | 0.48 | 0.49 | 0.00 |  | RY5TAKFOBLDUGX31MS24 | 02406PBC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00253XAB | AMERICAN AIRLINE | 04/20/2029 5.750000% |  | 00253XAB7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/20/2029 |  |  | 99.50 |  |  |  |  |  | AMERICAN AIRLINE | 04/20/2029 5.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1437.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25031.25 | 25025.51 | 24875.00 | 24875.00 | -150.51 | -150.51 | 5.78 | False | 5.93 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 254900QBKK4WBSO3GE51 | 00253XAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 031921AC | AMWINS GROUP INC | 02/15/2029 6.375000% |  | 031921AC3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 2/15/2029 |  |  | 100.38 |  |  |  |  |  | AMWINS GROUP INC | 02/15/2029 6.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1912.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 30600.00 | 30543.78 | 30112.50 | 30112.50 | -431.28 | -431.28 | 6.35 | False | 6.23 |  | 0.60 | 0.59 | 0.60 | 0.00 |  | 549300SJE7MUB8NMRG61 | 031921AC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 75606DAS | ANYWHERE RE/CO-I | 04/15/2030 7.000000% |  | 75606DAS0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/15/2030 |  |  | 100.38 |  |  |  |  |  | ANYWHERE RE/CO-I | 04/15/2030 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 23281.25 | 23511.62 | 25093.75 | 25093.75 | 1582.13 | 1582.13 | 6.97 | False | 6.89 |  | 0.50 | 0.49 | 0.50 | 0.00 |  | 254900QBKK4WBSO3GE51 | 75606DAS<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00185PAA | API GROUP DE INC | 10/15/2029 4.750000% |  | 00185PAA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MN | MINNESOTA | USD | US DOLLAR | 10/15/2029 |  |  | 97.13 |  |  |  |  |  | API GROUP DE INC | 10/15/2029 4.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1900.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39250.00 | 39372.63 | 38850.00 | 38850.00 | -522.63 | -522.63 | 4.89 | False | 5.66 |  | 0.78 | 0.76 | 0.77 | 0.00 |  | 549300TTHIODYMGND828 | 00185PAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 038522AQ | ARAMARK SERV INC | 02/01/2028 5.000000% |  | 038522AQ1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 2/1/2028 |  |  | 99.63 |  |  |  |  |  | ARAMARK SERV INC | 02/01/2028 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 49875.00 | 49908.21 | 49812.50 | 49812.50 | -95.71 | -95.71 | 5.02 | False | 5.21 |  | 1.00 | 0.98 | 0.99 | 0.00 |  | 42YMHYH0XMHJEXDUB065 | 038522AQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 04433LAA | ASHLAND LLC | 09/01/2031 3.375000% |  | 04433LAA0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 9/1/2031 |  |  | 90.00 |  |  |  |  |  | ASHLAND LLC | 09/01/2031 3.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 44375.00 | 44996.65 | 45000.00 | 45000.00 | 3.35 | 3.35 | 3.75 | False | 5.54 |  | 0.90 | 0.88 | 0.89 | 0.00 |  | 529900E4L9R04SB8HB11 | 04433LAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 045941AA | ASURION LLC/CO | 12/31/2032 8.000000% |  | 045941AA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 12/31/2032 |  |  | 104.00 |  |  |  |  |  | ASURION LLC/CO | 12/31/2032 8.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25664.00 | 25650.31 | 26000.00 | 26000.00 | 349.69 | 349.69 | 7.69 | False | 7.24 |  | 0.52 | 0.51 | 0.51 | 0.00 |  |  | 045941AA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 05368VAA | AVIENT CORP | 08/01/2030 7.125000% |  | 05368VAA4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 8/1/2030 |  |  | 101.63 |  |  |  |  |  | AVIENT CORP | 08/01/2030 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1781.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25843.75 | 25568.19 | 25406.25 | 25406.25 | -161.94 | -161.94 | 7.01 | False | 6.68 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | SM8L9RZYIB34LNTWO040 | 05368VAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 05480AAB | AZORRA FINANCE | 01/15/2031 7.250000% |  | 05480AAB1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | CAY | CAYMAN ISLANDS |  |  | USD | US DOLLAR | 1/15/2031 |  |  | 101.09 |  |  |  |  |  | AZORRA FINANCE | 01/15/2031 7.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1812.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26146.75 | 26100.93 | 25273.58 | 25273.58 | -827.36 | -827.36 | 7.17 | False | 6.97 |  | 0.51 | 0.50 | 0.50 | 0.00 |  |  | 05480AAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 05508WAC | B&G FOODS INC | 09/15/2028 8.000000% |  | 05508WAC9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 9/15/2028 |  |  | 98.00 |  |  |  |  |  | B&G FOODS INC | 09/15/2028 8.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24125.00 | 24407.65 | 24500.00 | 24500.00 | 92.35 | 92.35 | 8.16 | False | 8.92 |  | 0.49 | 0.48 | 0.49 | 0.00 |  | 549300TRW1LZMDJZAQ78 | 05508WAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 05825XAA | BALDWIN INS/FIN | 05/15/2031 7.125000% |  | 05825XAA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/15/2031 |  |  | 100.88 |  |  |  |  |  | BALDWIN INS/FIN | 05/15/2031 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1781.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25801.00 | 25743.97 | 25218.75 | 25218.75 | -525.22 | -525.22 | 7.06 | False | 6.92 |  | 0.50 | 0.50 | 0.50 | 0.00 |  | 5493004GCDREAQPPYG20 | 05825XAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 058498AX | BALL CORP | 09/15/2031 3.125000% |  | 058498AX4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 9/15/2031 |  |  | 90.50 |  |  |  |  |  | BALL CORP | 09/15/2031 3.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1562.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 44937.50 | 45499.75 | 45250.00 | 45250.00 | -249.75 | -249.75 | 3.45 | False | 5.14 |  | 0.90 | 0.89 | 0.90 | 0.00 |  | 0BGI85ALH27ZJP15DY16 | 058498AX<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 07556QBR | BEAZER HOMES USA | 10/15/2027 5.875000% |  | 07556QBR5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | GA | GEORGIA | USD | US DOLLAR | 10/15/2027 |  |  | 99.75 |  |  |  |  |  | BEAZER HOMES USA | 10/15/2027 5.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2350.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40050.00 | 40035.72 | 39900.00 | 39900.00 | -135.72 | -135.72 | 5.89 | False | 6.05 |  | 0.80 | 0.78 | 0.79 | 0.00 |  | 549300DUPYT2T0F60I45 | 07556QBR<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 09257WAF | BLAXKSTONE MORTGAGE | BXMT 7.75 DEC 012029 |  | 09257WAF7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 12/1/2029 |  |  | 105.11 |  |  |  |  |  | BLAXKSTONE MORTGAGE | BXMT 7.75 DEC 012029 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1937.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26538.50 | 26342.07 | 26277.74 | 26277.74 | -64.33 | -64.33 | 7.37 | True | 6.07 |  | 0.53 | 0.52 | 0.52 | 0.00 |  |  | 09257WAF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 097751BZ | BOMBARDIER INC | 02/01/2029 7.500000% |  | 097751BZ3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 2/1/2029 |  |  | 103.88 |  |  |  |  |  | BOMBARDIER INC | 02/01/2029 7.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2625.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36662.50 | 36312.50 | 36356.25 | 36356.25 | 43.75 | 43.75 | 7.22 | True | 4.92 |  | 0.73 | 0.71 | 0.72 | 0.00 |  | W7L3VLU8EHQY34Z36697 | 097751BZ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 103304BV | BOYD GAMING CORP | 06/15/2031 4.750000% |  | 103304BV2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NV | NEVADA | USD | US DOLLAR | 6/15/2031 |  |  | 95.38 |  |  |  |  |  | BOYD GAMING CORP | 06/15/2031 4.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2375.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47687.50 | 48086.25 | 47687.50 | 47687.50 | -398.75 | -398.75 | 4.98 | False | 5.79 |  | 0.95 | 0.94 | 0.94 | 0.00 |  | 254900787YGRYS2A1Z35 | 103304BV<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 460599AE | BRIGHTSTAR LOTTERY P | 01/15/2029 5.250000% |  | 460599AE3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | UKS | UNITED KINGDOM |  |  | USD | US DOLLAR | 1/15/2029 |  |  | 99.00 |  |  |  |  |  | INTL GAME TECH | 01/15/2029 5.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2100.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39750.00 | 40000.00 | 39600.00 | 39600.00 | -400.00 | -400.00 | 5.30 | False | 5.64 |  | 0.79 | 0.78 | 0.78 | 0.00 |  | 549300UQ6KHRCZDRGZ76 | 460599AE<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 12769GAC | CAESARS ENT | 02/15/2032 6.500000% |  | 12769GAC4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NV | NEVADA | USD | US DOLLAR | 2/15/2032 |  |  | 98.88 |  |  |  |  |  | CAESARS ENT | 02/15/2032 6.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3250.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 51250.00 | 51129.81 | 49437.50 | 49437.50 | -1692.31 | -1692.31 | 6.57 | False | 6.73 |  | 0.99 | 0.97 | 0.98 | 0.00 |  | 549300FA4CTCW903Y781 | 12769GAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 14739LAB | CASCADES INC/USA | 01/15/2028 5.375000% |  | 14739LAB8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 1/15/2028 |  |  | 99.38 |  |  |  |  |  | CASCADES INC/USA | 01/15/2028 5.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1881.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34781.25 | 34840.87 | 34781.25 | 34781.25 | -59.62 | -59.62 | 5.41 | False | 5.74 |  | 0.70 | 0.68 | 0.69 | 0.00 |  | 254900QBKK4WBSO3GE51 | 14739LAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 1248EPCQ | CCO HOLDINGS LLC | 02/01/2032 4.750000% |  | 1248EPCQ4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MO | MISSOURI | USD | US DOLLAR | 2/1/2032 |  |  | 90.75 |  |  |  |  |  | CCO HOLDINGS LLC | 02/01/2032 4.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2375.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47500.00 | 47866.18 | 45375.00 | 45375.00 | -2491.18 | -2491.18 | 5.23 | False | 6.69 |  | 0.91 | 0.89 | 0.90 | 0.00 |  | 549300TTHIODYMGND828 | 1248EPCQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 16115QAF | CHART INDUSTRIES | 01/01/2030 7.500000% |  | 16115QAF7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | GA | GEORGIA | USD | US DOLLAR | 1/1/2030 |  |  | 104.13 |  |  |  |  |  | CHART INDUSTRIES | 01/01/2030 7.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41950.00 | 41353.89 | 41650.00 | 41650.00 | 296.11 | 296.11 | 7.20 | True | 4.32 |  | 0.83 | 0.82 | 0.82 | 0.00 |  | EM7QGKC1GYOF3LSZSL80 | 16115QAF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 172441BH | CINEMARK USA | 08/01/2032 7.000000% |  | 172441BH9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 8/1/2032 |  |  | 102.38 |  |  |  |  |  | CINEMARK USA | 08/01/2032 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2800.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41400.00 | 41238.31 | 40950.00 | 40950.00 | -288.31 | -288.31 | 6.84 | False | 6.53 |  | 0.82 | 0.80 | 0.81 | 0.00 |  | 54930008H2137JSCPQ09 | 172441BH<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 18060TAD | CLARIOS GLOBAL | 02/15/2030 6.750000% |  | 18060TAD7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2030 |  |  | 102.38 |  |  |  |  |  | CLARIOS GLOBAL | 02/15/2030 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25906.25 | 25773.60 | 25593.75 | 25593.75 | -179.85 | -179.85 | 6.59 | False | 6.05 |  | 0.51 | 0.50 | 0.51 | 0.00 |  | 549300QHLDSIXVFWH611 | 18060TAD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 184496AP | CLEAN HARBORS IN | 07/15/2029 5.125000% |  | 184496AP2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 7/15/2029 |  |  | 99.00 |  |  |  |  |  | CLEAN HARBORS IN | 07/15/2029 5.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2562.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 49500.00 | 49582.87 | 49500.00 | 49500.00 | -82.87 | -82.87 | 5.18 | False | 5.46 |  | 0.99 | 0.97 | 0.98 | 0.00 |  | 5493000SJVZVZJKHJF48 | 184496AP<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 185899AN | CLEVELAND-CLIFFS | 04/15/2030 6.750000% |  | 185899AN1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 4/15/2030 |  |  | 97.88 |  |  |  |  |  | CLEVELAND-CLIFFS | 04/15/2030 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24093.75 | 24322.31 | 24468.75 | 24468.75 | 146.44 | 146.44 | 6.90 | False | 7.37 |  | 0.49 | 0.48 | 0.48 | 0.00 |  | 549300TM2WLI2BJMDD86 | 185899AN | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 12653CAL | CNX RESOURCES CO | 03/01/2032 7.250000% |  | 12653CAL2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 3/1/2032 |  |  | 102.38 |  |  |  |  |  | CNX RESOURCES CO | 03/01/2032 7.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2537.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36225.00 | 36067.39 | 35831.25 | 35831.25 | -236.14 | -236.14 | 7.08 | False | 6.75 |  | 0.72 | 0.70 | 0.71 | 0.00 |  | 549300JK3KH8PWM3B226 | 12653CAL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 199333AK | COLUMBUS MCKINN | 02/01/2033 7.125000% |  | 199333AK1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 2/1/2033 |  |  | 99.63 |  |  |  |  |  | COLUMBUS MCKINN | 02/01/2033 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1781.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25305.00 | 25293.96 | 24906.25 | 24906.25 | -387.71 | -387.71 | 7.15 | False | 7.19 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 549300W3HQB0HO1F3G69 | 199333AK<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 21871NAC | CORECIVIC INC | 04/15/2029 8.250000% |  | 21871NAC5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 4/15/2029 |  |  | 104.38 |  |  |  |  |  | CORECIVIC INC | 04/15/2029 8.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2062.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26531.25 | 26054.94 | 26093.75 | 26093.75 | 38.81 | 38.81 | 7.90 | True | 1.68 |  | 0.52 | 0.51 | 0.52 | 0.00 |  | 529900JFA3K6PTLT8B15 | 21871NAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 222070AG | COTY/HFC PREST | 01/15/2029 4.750000% |  | 222070AG9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/15/2029 |  |  | 96.88 |  |  |  |  |  | COTY/HFC PREST | 01/15/2029 4.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2375.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 49000.00 | 49195.76 | 48437.50 | 48437.50 | -758.26 | -758.26 | 4.90 | False | 5.98 |  | 0.97 | 0.95 | 0.96 | 0.00 |  | 549300BO9IWPF3S48F93 | 222070AG<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 228180AC | CROWN AMERICAS L | 06/01/2033 5.875000% |  | 228180AC9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 6/1/2033 |  |  | 100.28 |  |  |  |  |  | CROWN AMERICAS L | 06/01/2033 5.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1468.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25156.25 | 25133.63 | 25068.76 | 25068.76 | -64.87 | -64.87 | 5.86 | False | 5.83 |  | 0.50 | 0.49 | 0.50 | 0.00 |  | RPPGGRL1J75WGF2DFO04 | 228180AC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 23166MAA | CUSHMAN & WAKE | 05/15/2028 6.750000% |  | 23166MAA1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 5/15/2028 |  |  | 100.50 |  |  |  |  |  | CUSHMAN & WAKE | 05/15/2028 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2700.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40500.00 | 40067.39 | 40200.00 | 40200.00 | 132.61 | 132.61 | 6.72 | True | 2.58 |  | 0.80 | 0.79 | 0.80 | 0.00 |  | 549300870CMN3WI5IF97 | 23166MAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 237266AH | DARLING INGREDIE | 04/15/2027 5.250000% |  | 237266AH4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 4/15/2027 |  |  | 99.94 |  |  |  |  |  | DARLING INGREDIE | 04/15/2027 5.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1837.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34978.13 | 34987.97 | 34978.13 | 34978.13 | -9.85 | -9.85 | 5.25 | False | 5.31 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | L1N0SPPKS7EXZYUMZ898 | 237266AH<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 23918KAS | DAVITA INC | 06/01/2030 4.625000% |  | 23918KAS7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 6/1/2030 |  |  | 96.13 |  |  |  |  |  | DAVITA INC | 06/01/2030 4.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2312.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47937.50 | 48218.76 | 48062.50 | 48062.50 | -156.26 | -156.26 | 4.81 | False | 5.68 |  | 0.96 | 0.94 | 0.95 | 0.00 |  | M2XHYMU3TZNEZURC6H66 | 23918KAS<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 23345MAB | DT MIDSTREAM | 06/15/2031 4.375000% |  | 23345MAB3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 6/15/2031 |  |  | 96.63 |  |  |  |  |  | DT MIDSTREAM | 06/15/2031 4.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2187.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47812.50 | 48192.87 | 48312.50 | 48312.50 | 119.63 | 119.63 | 4.53 | False | 5.12 |  | 0.97 | 0.95 | 0.96 | 0.00 |  | 549300TTHIODYMGND828 | 23345MAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 28414HAG | ELANCO ANIMAL | 08/28/2028 6.650000% |  | 28414HAG8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IN | INDIANA | USD | US DOLLAR | 8/28/2028 |  |  | 102.14 |  |  |  |  |  | ELANCO ANIMAL | 08/28/2028 6.650000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1662.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25948.48 | 25713.54 | 25534.94 | 25534.94 | -178.60 | -178.60 | 6.51 | True | 5.58 |  | 0.51 | 0.50 | 0.51 | 0.00 |  | 549300SHPNDCE059M934 | 28414HAG<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 29261AAA | ENCOMPASS HLTH | 02/01/2028 4.500000% |  | 29261AAA8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | AL | ALABAMA | USD | US DOLLAR | 2/1/2028 |  |  | 98.88 |  |  |  |  |  | ENCOMPASS HLTH | 02/01/2028 4.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1800.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39700.00 | 39782.83 | 39550.00 | 39550.00 | -232.83 | -232.83 | 4.55 | False | 5.15 |  | 0.79 | 0.78 | 0.78 | 0.00 |  | 549300FVRPM9DRQZRG64 | 29261AAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 29272WAC | ENERGIZER HLDGS | 06/15/2028 4.750000% |  | 29272WAC3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MO | MISSOURI | USD | US DOLLAR | 6/15/2028 |  |  | 98.50 |  |  |  |  |  | ENERGIZER HLDGS | 06/15/2028 4.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2375.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 48625.00 | 48952.59 | 49250.00 | 49250.00 | 297.41 | 297.41 | 4.82 | False | 5.48 |  | 0.98 | 0.97 | 0.98 | 0.00 |  | 5493000D6NN0V57UME20 | 29272WAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 29362UAD | ENTEGRIS INC | 05/01/2029 3.625000% |  | 29362UAD6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 5/1/2029 |  |  | 94.75 |  |  |  |  |  | ENTEGRIS INC | 05/01/2029 3.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1450.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 37800.00 | 38202.51 | 37900.00 | 37900.00 | -302.51 | -302.51 | 3.83 | False | 5.50 |  | 0.76 | 0.74 | 0.75 | 0.00 |  | IYX6OWO7BT5DKO3BYG52 | 29362UAD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 31659AAA | FIESTA PURCHASER | 03/01/2031 7.875000% |  | 31659AAA4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 3/1/2031 |  |  | 101.75 |  |  |  |  |  | FIESTA PURCHASER | 03/01/2031 7.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1968.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26206.75 | 26156.61 | 25437.50 | 25437.50 | -719.11 | -719.11 | 7.74 | False | 7.44 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 254900QBKK4WBSO3GE51 | 31659AAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 344045AA | FLUTTER TREASURY | 04/29/2029 6.375000% |  | 344045AA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | IEP | IRELAND |  |  | USD | US DOLLAR | 4/29/2029 |  |  | 101.71 |  |  |  |  |  | FLUTTER TREASURY | 04/29/2029 6.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1593.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25714.06 | 25585.03 | 25426.88 | 25426.88 | -158.16 | -158.16 | 6.27 | False | 5.76 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 635400JE8VLL9UFVIC38 | 344045AA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 30251GBE | FMG RES AUG 2006 | 04/15/2032 6.125000% |  | 30251GBE6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | AUD | AUSTRALIA |  |  | USD | US DOLLAR | 4/15/2032 |  |  | 102.47 |  |  |  |  |  | FMG RES AUG 2006 | 04/15/2032 6.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2450.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40477.32 | 40427.93 | 40987.32 | 40987.32 | 559.39 | 559.39 | 5.98 | True | 5.62 |  | 0.82 | 0.81 | 0.81 | 0.00 |  | 549300EFD6S2NFE9D745 | 30251GBE<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 34417VAA | FOCUS FINANCIAL | 09/15/2031 6.750000% |  | 34417VAA5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 9/15/2031 |  |  | 99.88 |  |  |  |  |  | FOCUS FINANCIAL | 09/15/2031 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25762.00 | 25780.10 | 24968.75 | 24968.75 | -811.35 | -811.35 | 6.76 | False | 6.78 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 5493007L0E0VKRC2CP39 | 34417VAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 345397B6 | FORD MOTOR CRED | 06/17/2031 3.625000% |  | 345397B69 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 6/17/2031 |  |  | 89.88 |  |  |  |  |  | FORD MOTOR CRED | 06/17/2031 3.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1812.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 43801.88 | 44510.58 | 44941.75 | 44941.75 | 431.17 | 431.17 | 4.03 | False | 5.91 |  | 0.90 | 0.88 | 0.89 | 0.00 |  | UDSQCVRUX5BONN0VY111 | 345397B6<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 34966MAA | FORTRESS INTERME | 06/01/2031 7.500000% |  | 34966MAA0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 6/1/2031 |  |  | 99.75 |  |  |  |  |  | FORTRESS INTERME | 06/01/2031 7.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1875.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26250.00 | 26129.04 | 24937.50 | 24937.50 | -1191.54 | -1191.54 | 7.52 | False | 7.56 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 549300TTHIODYMGND828 | 34966MAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 35901MAA | FRONERI LUX FINC | 08/01/2032 6.000000% |  | 35901MAA5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | LUX | LUXEMBOURG |  |  | USD | US DOLLAR | 8/1/2032 |  |  | 97.38 |  |  |  |  |  | FRONERI LUX FINC | 08/01/2032 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1800.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 29875.50 | 29887.79 | 29212.50 | 29212.50 | -675.29 | -675.29 | 6.16 | False | 6.51 |  | 0.58 | 0.57 | 0.58 | 0.00 |  | 9845005YBZ75E5AA3B94 | 35901MAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 35906ABF | FRONTIER COMMUNI | 05/01/2028 5.000000% |  | 35906ABF4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 5/1/2028 |  |  | 100.25 |  |  |  |  |  | FRONTIER COMMUNI | 05/01/2028 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1250.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25000.00 | 25000.00 | 25062.50 | 25062.50 | 62.50 | 62.50 | 4.99 | True | 1.95 |  | 0.50 | 0.49 | 0.50 | 0.00 |  | 549300ZCZ76HYCS0H445 | 35906ABF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 36485MAQ | GARDA SECURITY | 01/15/2031 6.500000% |  | 36485MAQ2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 1/15/2031 |  |  | 101.38 |  |  |  |  |  | GARDA SECURITY | 01/15/2031 6.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1625.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25281.75 | 25255.37 | 25343.75 | 25343.75 | 88.38 | 88.38 | 6.41 | False | 6.16 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 549300ZF1NDXLMCHNO20 | 36485MAQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 366504AA | GARRETT MOT/SARL | 05/31/2032 7.750000% |  | 366504AA6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/31/2032 |  |  | 103.75 |  |  |  |  |  | GARRETT MOT/SARL | 05/31/2032 7.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2712.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36268.75 | 36123.38 | 36312.50 | 36312.50 | 189.12 | 189.12 | 7.47 | False | 6.99 |  | 0.73 | 0.71 | 0.72 | 0.00 |  | 254900QBKK4WBSO3GE51 | 366504AA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 371559AB | GENESEE & WYOMIN | 04/15/2032 6.250000% |  | 371559AB1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CT | CONNECTICUT | USD | US DOLLAR | 4/15/2032 |  |  | 101.00 |  |  |  |  |  | GENESEE & WYOMIN | 04/15/2032 6.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40950.00 | 40868.65 | 40400.00 | 40400.00 | -468.65 | -468.65 | 6.19 | False | 6.05 |  | 0.81 | 0.79 | 0.80 | 0.00 |  | G617XSG94Z7G0RMW3L02 | 371559AB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 361841AL | GLP CAP/FIN II | 01/15/2029 5.300000% |  | 361841AL3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/15/2029 |  |  | 100.88 |  |  |  |  |  | GLP CAP/FIN II | 01/15/2029 5.300000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1325.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25321.65 | 25252.78 | 25219.70 | 25219.70 | -33.08 | -33.08 | 5.25 | True | 4.93 |  | 0.50 | 0.50 | 0.50 | 0.00 |  | 2549005PXW31DRW8EC44 | 361841AL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 38869AAB | GRAPHIC PACKAGIN | 03/15/2028 3.500000% |  | 38869AAB3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | GA | GEORGIA | USD | US DOLLAR | 3/15/2028 |  |  | 96.75 |  |  |  |  |  | GRAPHIC PACKAGIN | 03/15/2028 3.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1400.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 38450.00 | 38964.07 | 38700.00 | 38700.00 | -264.07 | -264.07 | 3.62 | False | 5.27 |  | 0.77 | 0.76 | 0.77 | 0.00 |  | SO75N4VY5NXGQSK8YQ65 | 38869AAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 42704LAF | HERC HOLDINGS | 06/15/2030 7.000000% |  | 42704LAF1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 6/15/2030 |  |  | 102.50 |  |  |  |  |  | HERC HOLDINGS | 06/15/2030 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2100.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 31275.00 | 31187.86 | 30750.00 | 30750.00 | -437.86 | -437.86 | 6.83 | False | 6.31 |  | 0.61 | 0.60 | 0.61 | 0.00 |  | 549300TP80QLITMSBP82 | 42704LAF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 432833AF | HILTON DOMESTIC | 01/15/2030 4.875000% |  | 432833AF8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 1/15/2030 |  |  | 98.50 |  |  |  |  |  | HILTON DOMESTIC | 01/15/2030 4.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1950.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39650.00 | 39700.97 | 39400.00 | 39400.00 | -300.97 | -300.97 | 4.95 | False | 5.32 |  | 0.79 | 0.77 | 0.78 | 0.00 |  | 5493003EG7H0N1E4XV50 | 432833AF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 43283QAC | HILTON GRAND | 01/15/2032 6.625000% |  | 43283QAC4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/15/2032 |  |  | 99.13 |  |  |  |  |  | HILTON GRAND | 01/15/2032 6.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1656.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25610.50 | 25600.01 | 24781.25 | 24781.25 | -818.76 | -818.76 | 6.68 | False | 6.81 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 254900HF0EZ734FDVY79 | 43283QAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 451102CC | ICAHN ENTER/FIN | 02/01/2029 4.375000% |  | 451102CC9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 2/1/2029 |  |  | 85.25 |  |  |  |  |  | ICAHN ENTER/FIN | 02/01/2029 4.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1531.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 29225.00 | 30471.03 | 29837.50 | 29837.50 | -633.53 | -633.53 | 5.13 | False | 10.53 |  | 0.60 | 0.59 | 0.59 | 0.00 |  | 254900QBKK4WBSO3GE51 | 451102CC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 902104AC | II-VI INC | 12/15/2029 5.000000% |  | 902104AC2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 12/15/2029 |  |  | 98.31 |  |  |  |  |  | II-VI INC | 12/15/2029 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34365.63 | 34460.97 | 34409.38 | 34409.38 | -51.60 | -51.60 | 5.09 | False | 5.51 |  | 0.69 | 0.68 | 0.68 | 0.00 |  | 549300O5C25A0MMHHU33 | 902104AC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 44984WAJ | INEOS FINANCE PL | 04/15/2029 7.500000% |  | 44984WAJ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | UKS | UNITED KINGDOM |  |  | USD | US DOLLAR | 4/15/2029 |  |  | 97.19 |  |  |  |  |  | INEOS FINANCE PL | 04/15/2029 7.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2625.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35044.70 | 35036.01 | 34017.76 | 34017.76 | -1018.25 | -1018.25 | 7.72 | False | 8.57 |  | 0.68 | 0.67 | 0.67 | 0.00 |  | 2138002D68XDR4LZCG32 | 44984WAJ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 449934AD | IQVIA INC | 10/15/2026 5.000000% |  | 449934AD0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 10/15/2026 |  |  | 99.81 |  |  |  |  |  | IQVIA INC | 10/15/2026 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1250.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24968.75 | 24987.05 | 24953.13 | 24953.13 | -33.93 | -33.93 | 5.01 | False | 5.35 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 549300PLWY28YB00C717 | 449934AD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 46284VAG | IRON MOUNTAIN | 07/15/2028 5.000000% |  | 46284VAG6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 7/15/2028 |  |  | 99.38 |  |  |  |  |  | IRON MOUNTAIN | 07/15/2028 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 49687.50 | 49757.99 | 49687.50 | 49687.50 | -70.49 | -70.49 | 5.03 | False | 5.29 |  | 0.99 | 0.98 | 0.98 | 0.00 |  | SQL3F6CKNNBM3SQGHX24 | 46284VAG<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 47077WAC | JANE STREET GRP | 04/30/2031 7.125000% |  | 47077WAC2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/30/2031 |  |  | 102.38 |  |  |  |  |  | JANE STREET GRP | 04/30/2031 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2137.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 31612.50 | 31394.49 | 30712.50 | 30712.50 | -681.99 | -681.99 | 6.96 | False | 6.57 |  | 0.61 | 0.60 | 0.61 | 0.00 |  | 254900QBKK4WBSO3GE51 | 47077WAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 48666KAY | KB HOME | 11/15/2029 4.8% |  | 48666KAY5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/15/2029 |  |  | 97.00 |  |  |  |  |  | KB HOME | 11/15/2029 4.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1920.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39150.00 | 39283.51 | 38800.00 | 38800.00 | -483.51 | -483.51 | 4.95 | False | 5.73 |  | 0.78 | 0.76 | 0.77 | 0.00 |  | 549300LGUCWQURMWLG09 | 48666KAY<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 501797AW | L BRANDS INC | 10/01/2030 6.625000% |  | 501797AW4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 10/1/2030 |  |  | 101.00 |  |  |  |  |  | L BRANDS INC | 10/01/2030 6.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2650.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41200.00 | 41013.36 | 40400.00 | 40400.00 | -613.36 | -613.36 | 6.56 | False | 6.37 |  | 0.81 | 0.79 | 0.80 | 0.00 |  | GR3KVMWVCR54YWQNXU90 | 501797AW<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 513075BW | LAMAR MEDIA CORP | 01/15/2029 4.875000% |  | 513075BW0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | LA | LOUISIANA | USD | US DOLLAR | 1/15/2029 |  |  | 98.75 |  |  |  |  |  | LAMAR MEDIA CORP | 01/15/2029 4.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1218.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24781.25 | 24823.48 | 24687.50 | 24687.50 | -135.98 | -135.98 | 4.94 | False | 5.36 |  | 0.49 | 0.49 | 0.49 | 0.00 |  | 549300TTHIODYMGND828 | 513075BW<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 52736RBJ | LEVI STRAUSS | 03/01/2031 3.500000% |  | 52736RBJ0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 3/1/2031 |  |  | 91.63 |  |  |  |  |  | LEVI STRAUSS | 03/01/2031 3.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 45500.00 | 46352.33 | 45812.50 | 45812.50 | -539.83 | -539.83 | 3.82 | False | 5.46 |  | 0.92 | 0.90 | 0.91 | 0.00 |  | MB0UERO0RDFKU8258G77 | 52736RBJ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 53190FAE | LIFE TIME INC | 11/15/2031 6.000000% |  | 53190FAE5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MN | MINNESOTA | USD | US DOLLAR | 11/15/2031 |  |  | 100.75 |  |  |  |  |  | LIFE TIME INC | 11/15/2031 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25436.50 | 25426.42 | 25187.50 | 25187.50 | -238.92 | -238.92 | 5.96 | False | 5.84 |  | 0.50 | 0.49 | 0.50 | 0.00 |  | 549300PALKE96VYH4X17 | 53190FAE<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 58064LAA | MCGRAW-HILL ED | 09/01/2031 7.375000% |  | 58064LAA2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 9/1/2031 |  |  | 101.38 |  |  |  |  |  | MCGRAW-HILL ED | 09/01/2031 7.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1843.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25909.75 | 25890.43 | 25343.75 | 25343.75 | -546.68 | -546.68 | 7.27 | False | 7.06 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 254900U6YJ9QZ4IQOR26 | 58064LAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 552953CF | MGM RESORTS | 04/15/2027 5.500000% |  | 552953CF6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NV | NEVADA | USD | US DOLLAR | 4/15/2027 |  |  | 100.38 |  |  |  |  |  | MGM RESORTS | 04/15/2027 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1925.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35218.75 | 35111.27 | 35131.25 | 35131.25 | 19.98 | 19.98 | 5.48 | True | 5.00 |  | 0.70 | 0.69 | 0.70 | 0.00 |  | 54930066VBP7DZEGGJ87 | 552953CF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 55342UAQ | MPT OP PTNR/FINL | 02/15/2032 8.500000% |  | 55342UAQ7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2032 |  |  | 101.63 |  |  |  |  |  | MPT OP PTNR/FINL | 02/15/2032 8.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2125.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26353.00 | 26303.73 | 25406.25 | 25406.25 | -897.48 | -897.48 | 8.36 | False | 8.14 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 254900QBKK4WBSO3GE51 | 55342UAQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 63938CAM | NAVIENT CORP | 03/15/2029 5.500000% |  | 63938CAM0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 3/15/2029 |  |  | 90.88 |  |  |  |  |  | NAVIENT CORP | 03/15/2029 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 48812.50 | 49092.08 | 45437.50 | 45437.50 | -3654.58 | -3654.58 | 6.05 | False | 9.09 |  | 0.91 | 0.89 | 0.90 | 0.00 |  | 54930067J0ZNOEBRW338 | 63938CAM<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 65343HAA | NEXSTAR ESCROW | 07/15/2027 5.625000% |  | 65343HAA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 7/15/2027 |  |  | 100.00 |  |  |  |  |  | NEXSTAR ESCROW | 07/15/2027 5.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2812.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 49937.50 | 49956.17 | 50000.00 | 50000.00 | 43.83 | 43.83 | 5.63 | False | 5.62 |  | 1.00 | 0.98 | 0.99 | 0.00 |  | 5493006PK6I4I2OOT688 | 65343HAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 668771AL | NORTONLIFELOCK | 09/30/2030 7.125000% |  | 668771AL2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | AZ | ARIZONA | USD | US DOLLAR | 9/30/2030 |  |  | 101.38 |  |  |  |  |  | NORTONLIFELOCK | 09/30/2030 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2493.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36356.25 | 35926.93 | 35481.25 | 35481.25 | -445.68 | -445.68 | 7.03 | False | 6.77 |  | 0.71 | 0.70 | 0.70 | 0.00 |  | YF6ZV0M6AU4FY94MK914 | 668771AL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 629377CQ | NRG ENERGY INC | 02/15/2029 3.375000% |  | 629377CQ3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 2/15/2029 |  |  | 94.63 |  |  |  |  |  | NRG ENERGY INC | 02/15/2029 3.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47166.75 | 47716.42 | 47313.00 | 47313.00 | -403.42 | -403.42 | 3.57 | False | 5.42 |  | 0.95 | 0.93 | 0.94 | 0.00 |  | 5E2UPK5SW04M13XY7I38 | 629377CQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 682691AF | ONEMAIN FINANCE | 05/15/2031 7.500000% |  | 682691AF7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IN | INDIANA | USD | US DOLLAR | 5/15/2031 |  |  | 100.50 |  |  |  |  |  | ONEMAIN FINANCE | 05/15/2031 7.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1875.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26078.50 | 26027.06 | 25125.00 | 25125.00 | -902.06 | -902.06 | 7.46 | False | 7.38 |  | 0.50 | 0.49 | 0.50 | 0.00 |  | 5493008I795YYBFWFU90 | 682691AF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 683715AD | OPEN TEXT CORP | 12/01/2029 3.875000% |  | 683715AD8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 12/1/2029 |  |  | 89.38 |  |  |  |  |  | OPEN TEXT CORP | 12/01/2029 3.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1356.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 32943.75 | 33262.63 | 31281.25 | 31281.25 | -1981.38 | -1981.38 | 4.34 | False | 7.22 |  | 0.63 | 0.61 | 0.62 | 0.00 |  | 549300HP7ONDQODZJV16 | 683715AD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 00791GAB | OSAIC HOLDINGS | 08/01/2032 6.750000% |  | 00791GAB3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | AZ | ARIZONA | USD | US DOLLAR | 8/1/2032 |  |  | 100.25 |  |  |  |  |  | OSAIC HOLDINGS | 08/01/2032 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25971.00 | 25959.43 | 25062.50 | 25062.50 | -896.93 | -896.93 | 6.73 | False | 6.70 |  | 0.50 | 0.49 | 0.50 | 0.00 |  | 549300XL60BDV6UW5C86 | 00791GAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 69007TAB | OUTFRONT MEDIA C | 08/15/2027 5.000000% |  | 69007TAB0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 8/15/2027 |  |  | 99.75 |  |  |  |  |  | OUTFRONT MEDIA C | 08/15/2027 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34650.00 | 34769.23 | 34912.50 | 34912.50 | 143.27 | 143.27 | 5.01 | False | 5.19 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | 5493005WC7J0FDMW0610 | 69007TAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 69073TAU | OWENS-BROCKWAY | 05/15/2031 7.250000% |  | 69073TAU7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 5/15/2031 |  |  | 95.00 |  |  |  |  |  | OWENS-BROCKWAY | 05/15/2031 7.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2537.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35700.00 | 35672.90 | 33250.00 | 33250.00 | -2422.90 | -2422.90 | 7.63 | False | 8.47 |  | 0.66 | 0.65 | 0.66 | 0.00 |  | V2UQUCDZJ9WY98W8QU33 | 69073TAU<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 69867RAA | PANTHER ESCROW | 06/01/2031 7.125000% |  | 69867RAA5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2031 |  |  | 100.50 |  |  |  |  |  | PANTHER ESCROW | 06/01/2031 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2850.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41550.00 | 41499.15 | 40200.00 | 40200.00 | -1299.15 | -1299.15 | 7.09 | False | 7.00 |  | 0.80 | 0.79 | 0.80 | 0.00 |  | 254900QBKK4WBSO3GE51 | 69867RAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 71424VAA | PERMIAN RESR OPR | 01/15/2032 7.000000% |  | 71424VAA8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/15/2032 |  |  | 103.88 |  |  |  |  |  | PERMIAN RESR OPR | 01/15/2032 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 26159.75 | 26107.19 | 25968.75 | 25968.75 | -138.44 | -138.44 | 6.74 | True | 6.27 |  | 0.52 | 0.51 | 0.51 | 0.00 |  | 5493004CTVUMQLRPOE23 | 71424VAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 71429MAC | PERRIGO FINANCE | 6/15/2030 3.15% |  | 71429MAC9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | IEP | IRELAND |  |  | USD | US DOLLAR | 6/15/2030 |  |  | 90.49 |  |  |  |  |  | PERRIGO FINANCE | 6/15/2030 3.15% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2060.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39191.16 | 39307.63 | 36196.00 | 36196.00 | -3111.63 | -3111.63 | 5.41 | False | 7.58 |  | 0.72 | 0.71 | 0.72 | 0.00 |  |  | 71429MAC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 737446AQ | POST HOLDINGS IN | 04/15/2030 4.625000% |  | 737446AQ7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MO | MISSOURI | USD | US DOLLAR | 4/15/2030 |  |  | 96.38 |  |  |  |  |  | POST HOLDINGS IN | 04/15/2030 4.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1156.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24031.25 | 24169.61 | 24093.75 | 24093.75 | -75.86 | -75.86 | 4.80 | False | 5.64 |  | 0.48 | 0.47 | 0.48 | 0.00 |  | JM1I5YUAURL6DC8N1468 | 737446AQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 74843PAB | QUIKRETE HOLDING | 03/01/2033 6.750000% |  | 74843PAB6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | GA | GEORGIA | USD | US DOLLAR | 3/1/2033 |  |  | 101.50 |  |  |  |  |  | QUIKRETE HOLDING | 03/01/2033 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2362.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36137.50 | 36034.70 | 35525.00 | 35525.00 | -509.70 | -509.70 | 6.65 | False | 6.48 |  | 0.71 | 0.70 | 0.70 | 0.00 |  | 5493007KIN86DIZWZT22 | 74843PAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 76119LAB | RESIDEO FUNDING | 09/01/2029 4.000000% |  | 76119LAB7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 9/1/2029 |  |  | 93.47 |  |  |  |  |  | RESIDEO FUNDING | 09/01/2029 4.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47258.60 | 47715.03 | 46734.50 | 46734.50 | -980.53 | -980.53 | 4.28 | False | 6.15 |  | 0.93 | 0.92 | 0.93 | 0.00 |  | 5493000IFJ6XJKH66598 | 76119LAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 74965LAA | RLJ LDGING TRUST | 07/01/2026 3.750000% |  | 74965LAA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MD | MARYLAND | USD | US DOLLAR | 7/1/2026 |  |  | 99.75 |  |  |  |  |  | RLJ LDGING TRUST | 07/01/2026 3.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1312.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34650.00 | 34909.52 | 34912.50 | 34912.50 | 2.98 | 2.98 | 3.76 | False | 4.72 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | 549300RX5I8Z6I6LDZ74 | 74965LAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 780153BW | ROYAL CARIBBEAN | 09/30/2031 5.625000% |  | 780153BW1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | LIB | LIBERIA |  |  | USD | US DOLLAR | 9/30/2031 |  |  | 101.11 |  |  |  |  |  | ROYAL CARIBBEAN | 09/30/2031 5.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2250.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40400.00 | 40337.90 | 40444.52 | 40444.52 | 106.62 | 106.62 | 5.56 | False | 5.39 |  | 0.81 | 0.79 | 0.80 | 0.00 |  | K2NEH8QNVW44JIWK7Z55 | 780153BW<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 78410GAD | SBA COMMUNICATIO | 02/15/2027 3.875000% |  | 78410GAD6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 2/15/2027 |  |  | 99.25 |  |  |  |  |  | SBA COMMUNICATIO | 02/15/2027 3.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1356.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34518.75 | 34737.08 | 34737.50 | 34737.50 | 0.42 | 0.42 | 3.90 | False | 4.76 |  | 0.69 | 0.68 | 0.69 | 0.00 |  | 5299001HX8ZN8Y8QIT49 | 78410GAD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 81211KAK | SEALED AIR CORP | 07/15/2033 6.875000% |  | 81211KAK6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 7/15/2033 |  |  | 96.00 |  |  |  |  |  | SEALED AIR CORP | 07/15/2033 6.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2406.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 37625.00 | 37422.14 | 33600.00 | 33600.00 | -3822.14 | -3822.14 | 7.16 | False | 7.60 |  | 0.67 | 0.66 | 0.67 | 0.00 |  | Q0M0CZB4YN6JZ65WXI09 | 81211KAK<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 81282UAG | SEAWORLD PARKS | 08/15/2029 5.250000% |  | 81282UAG7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 8/15/2029 |  |  | 95.75 |  |  |  |  |  | SEAWORLD PARKS | 08/15/2029 5.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1837.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 34256.25 | 34379.68 | 33512.50 | 33512.50 | -867.18 | -867.18 | 5.48 | False | 6.68 |  | 0.67 | 0.66 | 0.66 | 0.00 |  | 549300UZV72O3371JJ53 | 81282UAG<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 816196AV | SELECT MEDICAL | 12/01/2032 6.250000% |  | 816196AV1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 12/1/2032 |  |  | 95.13 |  |  |  |  |  | SELECT MEDICAL | 12/01/2032 6.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40050.00 | 40040.04 | 38050.00 | 38050.00 | -1990.04 | -1990.04 | 6.57 | False | 7.18 |  | 0.76 | 0.75 | 0.75 | 0.00 |  | 549300X05KS0JKR8CB50 | 816196AV<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 81725WAL | SENSATA TECH BV | 09/01/2030 5.875000% |  | 81725WAL7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | NLG | NETHERLANDS |  |  | USD | US DOLLAR | 9/1/2030 |  |  | 100.35 |  |  |  |  |  | SENSATA TECH BV | 09/01/2030 5.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2056.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35009.45 | 35006.47 | 35121.07 | 35121.07 | 114.60 | 114.60 | 5.85 | False | 5.78 |  | 0.70 | 0.69 | 0.70 | 0.00 |  | PUCKW5P5O3XMOZVH7T53 | 81725WAL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 817565CF | SERVICE CORP | 08/15/2030 3.375000% |  | 817565CF9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 8/15/2030 |  |  | 92.50 |  |  |  |  |  | SERVICE CORP | 08/15/2030 3.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1687.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 46000.00 | 46899.41 | 46250.00 | 46250.00 | -649.41 | -649.41 | 3.65 | False | 5.32 |  | 0.92 | 0.91 | 0.92 | 0.00 |  | 549300RKVM2ME20JHZ15 | 817565CF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 82967NBA | SIRIUS XM RADIO | 08/01/2027 5.000000% |  | 82967NBA5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 8/1/2027 |  |  | 99.94 |  |  |  |  |  | SIRIUS XM RADIO | 08/01/2027 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 29700.00 | 29803.57 | 29981.25 | 29981.25 | 177.68 | 177.68 | 5.00 | False | 5.04 |  | 0.60 | 0.59 | 0.59 | 0.00 |  | WP5O65E6BMU84LNO4227 | 82967NBA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 83002YAA | SIX FLAGS ENT | 05/01/2032 6.625000% |  | 83002YAA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/1/2032 |  |  | 100.00 |  |  |  |  |  | SIX FLAGS ENT | 05/01/2032 6.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2318.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35557.20 | 35473.72 | 35000.00 | 35000.00 | -473.72 | -473.72 | 6.63 | False | 6.62 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | 254900QBKK4WBSO3GE51 | 83002YAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 78454LAY | SM ENERGY CO | 08/01/2032 7.000000% |  | 78454LAY6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CO | COLORADO | USD | US DOLLAR | 8/1/2032 |  |  | 102.13 |  |  |  |  |  | SM ENERGY CO | 08/01/2032 7.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24562.50 | 25006.53 | 25531.25 | 25531.25 | 524.72 | 524.72 | 6.85 | False | 6.58 |  | 0.51 | 0.50 | 0.51 | 0.00 |  | 84BUTVXV5ODI6BXNMH43 | 78454LAY<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 83283WAE | SMYRNA READY MIX | 11/15/2031 8.875000% |  | 83283WAE3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 11/15/2031 |  |  | 102.75 |  |  |  |  |  | SMYRNA READY MIX | 11/15/2031 8.875000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3106.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36706.25 | 36620.96 | 35962.50 | 35962.50 | -658.46 | -658.46 | 8.64 | False | 8.25 |  | 0.72 | 0.71 | 0.71 | 0.00 |  | 549300S7RFWHQFOIOY93 | 83283WAE<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 83600WAE | SOTERA HEALTH HO | 06/01/2031 7.375000% |  | 83600WAE9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 6/1/2031 |  |  | 103.50 |  |  |  |  |  | SOTERA HEALTH HO | 06/01/2031 7.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2950.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41700.00 | 41611.07 | 41400.00 | 41400.00 | -211.07 | -211.07 | 7.13 | False | 6.56 |  | 0.83 | 0.81 | 0.82 | 0.00 |  | 549300OVT7MBXFLOFU20 | 83600WAE<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 78466CAD | SS&C TECH INC | 06/01/2032 6.500000% |  | 78466CAD8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CT | CONNECTICUT | USD | US DOLLAR | 6/1/2032 |  |  | 100.63 |  |  |  |  |  | SS&C TECH INC | 06/01/2032 6.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2275.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 36225.00 | 36189.13 | 35218.75 | 35218.75 | -970.38 | -970.38 | 6.46 | False | 6.37 |  | 0.70 | 0.69 | 0.70 | 0.00 |  | 549300KY09TR3J12JU49 | 78466CAD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 853496AG | STANDARD INDS IN | 07/15/2030 4.375000% |  | 853496AG2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 7/15/2030 |  |  | 94.13 |  |  |  |  |  | STANDARD INDS IN | 07/15/2030 4.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2187.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 47437.50 | 48028.65 | 47062.50 | 47062.50 | -966.15 | -966.15 | 4.65 | False | 5.94 |  | 0.94 | 0.92 | 0.93 | 0.00 |  | 54930064UHXCIUWVI755 | 853496AG<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 85571BBD | STARWOOD PROP TR | 07/01/2030 6.500000% |  | 85571BBD6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CT | CONNECTICUT | USD | US DOLLAR | 7/1/2030 |  |  | 101.50 |  |  |  |  |  | STARWOOD PROP TR | 07/01/2030 6.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1625.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25982.00 | 25894.83 | 25375.00 | 25375.00 | -519.83 | -519.83 | 6.40 | True | 6.04 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | BUGSFQZERKRBFWIG5267 | 85571BBD<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 864486AL | SUBURBAN PROPANE | 06/01/2031 5.000000% |  | 864486AL9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 6/1/2031 |  |  | 94.00 |  |  |  |  |  | SUBURBAN PROPANE | 06/01/2031 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 32943.75 | 33299.84 | 32900.00 | 32900.00 | -399.84 | -399.84 | 5.32 | False | 6.38 |  | 0.66 | 0.65 | 0.65 | 0.00 |  | JJAX4X60DE65EYFOTY73 | 864486AL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 87422VAM | TALEN ENERGY SUP | 02/01/2034 6.250000% |  | 87422VAM0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 2/1/2034 |  |  | 99.25 |  |  |  |  |  | TALEN ENERGY SUP | 02/01/2034 6.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1562.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25467.75 | 25467.21 | 24812.50 | 24812.50 | -654.71 | -654.71 | 6.30 | False | 6.37 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | K5K33XN0PQAU1XF7NN66 | 87422VAM<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 87612BBQ | TARGA RES PRTNRS | 03/01/2030 5.500000% |  | 87612BBQ4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 3/1/2030 |  |  | 100.86 |  |  |  |  |  | TARGA RES PRTNRS | 03/01/2030 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1375.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25114.41 | 25083.68 | 25214.73 | 25214.73 | 131.05 | 131.05 | 5.45 | False | 5.25 |  | 0.50 | 0.50 | 0.50 | 0.00 |  | 6OQWTZ1SPC04IFT4T704 | 87612BBQ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 87927VAM | TELECOM IT CAP | 09/30/2034 6.000000% |  | 87927VAM0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | LUX | LUXEMBOURG |  |  | USD | US DOLLAR | 9/30/2034 |  |  | 101.81 |  |  |  |  |  | TELECOM IT CAP | 09/30/2034 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24881.40 | 24891.44 | 25452.50 | 25452.50 | 561.06 | 561.06 | 5.89 | False | 5.73 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 549300777DJZOR5C4L39 | 87927VAM<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 88033GDM | TENET HEALTHCARE | 06/01/2029 4.250000% |  | 88033GDM9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 6/1/2029 |  |  | 97.25 |  |  |  |  |  | TENET HEALTHCARE | 06/01/2029 4.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2125.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 48687.50 | 48920.76 | 48625.00 | 48625.00 | -295.76 | -295.76 | 4.37 | False | 5.20 |  | 0.97 | 0.96 | 0.96 | 0.00 |  | 0W9AIBT6U6ADJ2I8HK17 | 88033GDM<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 880779BA | TEREX CORP | 05/15/2029 5.000000% |  | 880779BA0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CT | CONNECTICUT | USD | US DOLLAR | 5/15/2029 |  |  | 98.63 |  |  |  |  |  | TEREX CORP | 05/15/2029 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 48937.50 | 49127.63 | 49312.50 | 49312.50 | 184.87 | 184.87 | 5.07 | False | 5.48 |  | 0.99 | 0.97 | 0.98 | 0.00 |  | YAWJZJYEQ7M1SYMOS462 | 880779BA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 88167AAK | TEVA PHARMACEUTI | 03/01/2028 6.750000% |  | 88167AAK7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | NLG | NETHERLANDS |  |  | USD | US DOLLAR | 3/1/2028 |  |  | 102.38 |  |  |  |  |  | TEVA PHARMACEUTI | 03/01/2028 6.750000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2700.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 41600.00 | 41116.58 | 40950.00 | 40950.00 | -166.58 | -166.58 | 6.59 | True | 5.24 |  | 0.82 | 0.80 | 0.81 | 0.00 |  | 5493004T21MOAFINJP35 | 88167AAK<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 885160AA | THOR INDUSTRIES | 10/15/2029 4.000000% |  | 885160AA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IN | INDIANA | USD | US DOLLAR | 10/15/2029 |  |  | 94.38 |  |  |  |  |  | THOR INDUSTRIES | 10/15/2029 4.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1400.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 32987.50 | 33311.90 | 33031.25 | 33031.25 | -280.65 | -280.65 | 4.24 | False | 5.78 |  | 0.66 | 0.65 | 0.65 | 0.00 |  | 254900XZO1228PDSG060 | 885160AA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 893647BV | TRANSDIGM INC | 03/01/2032 6.625000% |  | 893647BV8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 3/1/2032 |  |  | 102.19 |  |  |  |  |  | TRANSDIGM INC | 03/01/2032 6.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3312.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 51781.25 | 51725.84 | 51093.75 | 51093.75 | -632.09 | -632.09 | 6.48 | False | 6.18 |  | 1.02 | 1.00 | 1.01 | 0.00 |  | 88Q84GB3X55CF5OC7582 | 893647BV<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 894164AC | TRAVEL + LEISURE | 09/01/2033 6.125000% |  | 894164AC6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 9/1/2033 |  |  | 98.38 |  |  |  |  |  | TRAVEL + LEISURE | 09/01/2033 6.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1531.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25321.25 | 25310.19 | 24593.75 | 24593.75 | -716.44 | -716.44 | 6.23 | False | 6.40 |  | 0.49 | 0.48 | 0.49 | 0.00 |  | T4VNTWMFQ7JQB65L7T35 | 894164AC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 90932LAH | UNITED AIRLINES | 04/15/2029 4.625000% |  | 90932LAH0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 4/15/2029 |  |  | 97.82 |  |  |  |  |  | UNITED AIRLINES | 04/15/2029 4.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1850.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 38885.98 | 39127.09 | 39129.90 | 39129.90 | 2.81 | 2.81 | 4.73 | False | 5.41 |  | 0.78 | 0.77 | 0.78 | 0.00 |  | K1OQBWM7XEOO08LDNP29 | 90932LAH<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 911365BL | UNITED RENTAL NA | 01/15/2030 5.250000% |  | 911365BL7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CT | CONNECTICUT | USD | US DOLLAR | 1/15/2030 |  |  | 99.88 |  |  |  |  |  | UNITED RENTAL NA | 01/15/2030 5.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1837.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35175.00 | 35146.57 | 34956.25 | 34956.25 | -190.32 | -190.32 | 5.26 | False | 5.28 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | NGIZXNT70J2LYT3FBI09 | 911365BL<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 914906AY | UNIVISION COMM | 08/15/2028 8.000000% |  | 914906AY8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 8/15/2028 |  |  | 101.75 |  |  |  |  |  | UNIVISION COMM | 08/15/2028 8.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2000.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25359.38 | 25236.76 | 25437.50 | 25437.50 | 200.74 | 200.74 | 7.86 | False | 7.18 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 549300YQDE2JSGTL8V47 | 914906AY<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92332YAB | VENTURE GLOBAL L | 06/01/2031 8.375000% |  | 92332YAB7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 6/1/2031 |  |  | 104.13 |  |  |  |  |  | VENTURE GLOBAL L | 06/01/2031 8.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2093.75 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25294.75 | 25707.32 | 26031.25 | 26031.25 | 323.93 | 323.93 | 8.04 | False | 7.40 |  | 0.52 | 0.51 | 0.52 | 0.00 |  | 54930011XLBUWMQUC829 | 92332YAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92564RAB | VICI PROPERTIES | 12/01/2029 4.625000% |  | 92564RAB1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 12/1/2029 |  |  | 98.45 |  |  |  |  |  | VICI PROPERTIES | 12/01/2029 4.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1156.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24469.88 | 24551.82 | 24611.29 | 24611.29 | 59.47 | 59.47 | 4.70 | False | 5.09 |  | 0.49 | 0.48 | 0.49 | 0.00 |  | 254900X4QE7SGKQLLN38 | 92564RAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 926400AA | VICTORIAS SECRE | 07/15/2029 4.625000% |  | 926400AA0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 7/15/2029 |  |  | 95.75 |  |  |  |  |  | VICTORIAS SECRE | 07/15/2029 4.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1387.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 30000.00 | 28087.50 | 28408.04 | 28725.00 | 28725.00 | 316.96 | 316.96 | 4.83 | False | 6.07 |  | 0.57 | 0.56 | 0.57 | 0.00 |  | 5493006T3O70U3UWVF17 | 926400AA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92769VAJ | VIRGIN MEDIA FIN | 07/15/2030 5.000000% |  | 92769VAJ8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | UKS | UNITED KINGDOM |  |  | USD | US DOLLAR | 7/15/2030 |  |  | 82.63 |  |  |  |  |  | VIRGIN MEDIA FIN | 07/15/2030 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1250.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 22869.95 | 23350.50 | 20656.25 | 20656.25 | -2694.25 | -2694.25 | 6.05 | False | 10.09 |  | 0.41 | 0.41 | 0.41 | 0.00 |  | 2138001LVYC87DDHT482 | 92769VAJ<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92840VAF | VISTRA OPERATION | 07/31/2027 5.000000% |  | 92840VAF9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 7/31/2027 |  |  | 99.75 |  |  |  |  |  | VISTRA OPERATION | 07/31/2027 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 50000.00 | 50000.00 | 50000.00 | 49875.00 | 49875.00 | -125.00 | -125.00 | 5.01 | False | 5.19 |  | 1.00 | 0.98 | 0.99 | 0.00 |  | 549300ZH5GKBTJZ7NM23 | 92840VAF<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92921EAA | VOYAGER PARENT L | 07/01/2032 9.250000% |  | 92921EAA0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 7/1/2032 |  |  | 103.63 |  |  |  |  |  | VOYAGER PARENT L | 07/01/2032 9.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2312.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 25968.75 | 25898.90 | 25906.25 | 25906.25 | 7.35 | 7.35 | 8.93 | False | 8.49 |  | 0.52 | 0.51 | 0.51 | 0.00 |  | 2549002DYVI4ACSV4V71 | 92921EAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92944BAB | WBI OPERATING | 10/15/2033 6.500000% |  | 92944BAB7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/15/2033 |  |  | 99.50 |  |  |  |  |  | WBI OPERATING | 10/15/2033 6.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1625.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24968.75 | 24971.33 | 24875.00 | 24875.00 | -96.33 | -96.33 | 6.53 | False | 6.58 |  | 0.50 | 0.49 | 0.49 | 0.00 |  |  | 92944BAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 95081QAP | WESCO DISTRIBUT | 06/15/2028 7.250000% |  | 95081QAP9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 6/15/2028 |  |  | 100.63 |  |  |  |  |  | WESCO DISTRIBUT | 06/15/2028 7.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2537.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 35000.00 | 35568.75 | 35429.13 | 35218.75 | 35218.75 | -210.38 | -210.38 | 7.20 | True | 4.10 |  | 0.70 | 0.69 | 0.70 | 0.00 |  | 549300I2CEZJG9N4AH67 | 95081QAP<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 92933BAR | WMG ACQUISITION | 02/15/2031 3.000000% |  | 92933BAR5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 2/15/2031 |  |  | 91.50 |  |  |  |  |  | WMG ACQUISITION | 02/15/2031 3.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1200.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 36218.52 | 36943.53 | 36598.76 | 36598.76 | -344.77 | -344.77 | 3.28 | False | 4.99 |  | 0.73 | 0.72 | 0.72 | 0.00 |  | 549300NAS11NXI33CP80 | 92933BAR<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 98311AAB | WYNDHAM HOTELS & | 08/15/2028 4.375000% |  | 98311AAB1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 8/15/2028 |  |  | 97.63 |  |  |  |  |  | WYNDHAM HOTELS & | 08/15/2028 4.375000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1750.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 39000.00 | 39227.21 | 39050.00 | 39050.00 | -177.21 | -177.21 | 4.48 | False | 5.45 |  | 0.78 | 0.77 | 0.77 | 0.00 |  | 549300FE3MQ4RVXXC673 | 98311AAB<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 983130AX | WYNN LAS VEGAS | 05/15/2027 5.250000% |  | 983130AX3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NV | NEVADA | USD | US DOLLAR | 5/15/2027 |  |  | 99.88 |  |  |  |  |  | WYNN LAS VEGAS | 05/15/2027 5.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2100.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40100.00 | 40053.53 | 39950.00 | 39950.00 | -103.53 | -103.53 | 5.26 | False | 5.36 |  | 0.80 | 0.79 | 0.79 | 0.00 |  | 2549002X45DR4UI7NA62 | 983130AX<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 983133AC | WYNN RESORTS FIN | 02/15/2031 7.125000% |  | 983133AC3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NV | NEVADA | USD | US DOLLAR | 2/15/2031 |  |  | 104.75 |  |  |  |  |  | WYNN RESORTS FIN | 02/15/2031 7.125000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2850.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 42550.00 | 42234.01 | 41900.00 | 41900.00 | -334.01 | -334.01 | 6.80 | True | 5.93 |  | 0.84 | 0.82 | 0.83 | 0.00 |  | 254900QBKK4WBSO3GE51 | 983133AC<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 98379KAA | XPO INC | 06/01/2028 6.250000% |  | 98379KAA0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CT | CONNECTICUT | USD | US DOLLAR | 6/1/2028 |  |  | 101.50 |  |  |  |  |  | XPO INC | 06/01/2028 6.250000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 40000.00 | 40600.00 | 40451.08 | 40600.00 | 40600.00 | 148.92 | 148.92 | 6.16 | False | 5.50 |  | 0.81 | 0.80 | 0.80 | 0.00 |  | 54930096DB9LCLPN7H13 | 98379KAA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 988498AP | YUM! BRANDS INC | 01/31/2032 4.625000% |  | 988498AP6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | KY | KENTUCKY | USD | US DOLLAR | 1/31/2032 |  |  | 96.00 |  |  |  |  |  | YUM! BRANDS INC | 01/31/2032 4.625000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1156.25 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 24312.50 | 24425.96 | 24000.00 | 24000.00 | -425.96 | -425.96 | 4.82 | False | 5.43 |  | 0.48 | 0.47 | 0.48 | 0.00 |  | 549300JE8XHZZ7OHN517 | 988498AP<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | 345370CA | FORD MOTOR CO | 7/16/2031 7.45% |  | 345370CA6 | 1012 | Auto Manufacturers |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 7/16/2031 |  |  | 107.81 |  |  |  |  |  | FORD MOTOR CO | 7/16/2031 7.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1862.50 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 25000.00 | 27056.63 | 26833.82 | 26952.85 | 26952.85 | 119.03 | 119.03 | 6.91 | False | 5.72 |  | 0.54 | 0.53 | 0.53 | 0.00 |  |  | 345370CA<br> N | MP |
| 455 | OBRA DEFENSIVE HIGH YIELD | FGTXX | Goldman Sachs Financ | ial Square Funds - G |  | 38141W273 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 4/1/2026 |  |  | 100.00 |  |  |  |  |  | Goldman Sachs Financ | ial Square Funds - G |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6345.88 | L<br> N |  |  | 3/31/2026<br> C |  | 455;USD | USD | 178394.56 | 178394.56 | 178394.56 | 178394.56 | 178394.56 | 0.00 | 0.00 | 3.56 | False | 3.55 |  | 3.57 | 3.51 | 3.53 | 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:** Obra Defensive High Yield ETF

- **b. EDGAR series identifier (if any):** S000089384

- **c. LEI of Series:** 529900XS8LF96GKDFC48

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $5088870.71

**Total Liabilities:** $40227.81

**Net Assets:** $5048642.90

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** 4.34 | **5-Year:** 5.52 | **10-Year:** 0.14 | **30-Year:** 0

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

- **3-Month:** 4.33 | **1-Year:** 51.51 | **5-Year:** 64.37 | **10-Year:** 6.84 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255906 | 0.31%                | 0.42%                | -1.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1681.84                | $-4302.61                                  |
| Month 2  | $571.60                  | $-1752.44                                  |
| Month 3  | $1334.52                 | $-86581.89                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| API GROUP DE INC     | CORPBOND | CUSIP: 00185PAA9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $38850.00     | 0.77%             | 2029-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINE     | CORPBOND | CUSIP: 00253XAB7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24875.00     | 0.49%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTH        | CORPBOND | CUSIP: 00404AAP4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $38950.00     | 0.77%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC         | CORPBOND | CUSIP: 00489LAL7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34956.25     | 0.69%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HO     | CORPBOND | CUSIP: 00687YAB1<br>LEI: N/A | Long             | DBT              | CORP              | JE        |     40000 | NS      | $40525.12     | 0.80%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAG     | CORPBOND | CUSIP: 00790RAB0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $50500.00     | 1.00%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS       | CORPBOND | CUSIP: 00791GAB3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25062.50     | 0.50%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS       | CORPBOND | CUSIP: 01309QAD0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39300.00     | 0.78%             | 2034-03-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING     | CORPBOND | CUSIP: 01330AAA4<br>LEI: N/A | Long             | DBT              | CORP              | LU        |     35000 | NS      | $35759.45     | 0.71%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL     | CORPBOND | CUSIP: 019576AD9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     30000 | NS      | $30900.00     | 0.61%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANS        | CORPBOND | CUSIP: 019736AG2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $46625.00     | 0.92%             | 2031-01-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMER AXLE & MFG      | CORPBOND | CUSIP: 02406PBC3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24593.75     | 0.49%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC     | CORPBOND | CUSIP: 031921AC3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     30000 | NS      | $30112.50     | 0.60%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERV INC     | CORPBOND | CUSIP: 038522AQ1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49812.50     | 0.99%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASHLAND LLC          | CORPBOND | CUSIP: 04433LAA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $45000.00     | 0.89%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/CO       | CORPBOND | CUSIP: 045941AA9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $26000.00     | 0.51%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP          | CORPBOND | CUSIP: 05368VAA4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25406.25     | 0.50%             | 2030-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE       | CORPBOND | CUSIP: 05480AAB1<br>LEI: N/A | Long             | DBT              | CORP              | KY        |     25000 | NS      | $25273.58     | 0.50%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC        | CORPBOND | CUSIP: 05508WAC9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24500.00     | 0.49%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN INS/FIN      | CORPBOND | CUSIP: 05825XAA7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25218.75     | 0.50%             | 2031-05-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BALL CORP            | CORPBOND | CUSIP: 058498AX4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $45250.00     | 0.90%             | 2031-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA     | CORPBOND | CUSIP: 07556QBR5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39900.00     | 0.79%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BLAXKSTONE MORTGAGE  | CORPBOND | CUSIP: 09257WAF7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $26277.74     | 0.52%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC       | CORPBOND | CUSIP: 097751BZ3<br>LEI: N/A | Long             | DBT              | CORP              | CA        |     35000 | NS      | $36356.25     | 0.72%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP     | CORPBOND | CUSIP: 103304BV2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $47687.50     | 0.94%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC     | CORPBOND | CUSIP: 1248EPCQ4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $45375.00     | 0.90%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CO     | CORPBOND | CUSIP: 12653CAL2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35831.25     | 0.71%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENT          | CORPBOND | CUSIP: 12769GAC4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49437.50     | 0.98%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CASCADES INC/USA     | CORPBOND | CUSIP: 14739LAB8<br>LEI: N/A | Long             | DBT              | CORP              | CA        |     35000 | NS      | $34781.25     | 0.69%             | 2028-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES     | CORPBOND | CUSIP: 16115QAF7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $41650.00     | 0.82%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA         | CORPBOND | CUSIP: 172441BH9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $40950.00     | 0.81%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL       | CORPBOND | CUSIP: 18060TAD7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25593.75     | 0.51%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS IN     | CORPBOND | CUSIP: 184496AP2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49500.00     | 0.98%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS     | CORPBOND | CUSIP: 185899AN1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24468.75     | 0.48%             | 2030-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COLUMBUS MCKINN      | CORPBOND | CUSIP: 199333AK1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24906.25     | 0.49%             | 2033-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC        | CORPBOND | CUSIP: 21871NAC5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $26093.75     | 0.52%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| COTY/HFC PREST       | CORPBOND | CUSIP: 222070AG9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $48437.50     | 0.96%             | 2029-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS L     | CORPBOND | CUSIP: 228180AC9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25068.76     | 0.50%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKE       | CORPBOND | CUSIP: 23166MAA1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $40200.00     | 0.80%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM         | CORPBOND | CUSIP: 23345MAB3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $48312.50     | 0.96%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIE     | CORPBOND | CUSIP: 237266AH4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34978.13     | 0.69%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DAVITA INC           | CORPBOND | CUSIP: 23918KAS7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $48062.50     | 0.95%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL        | CORPBOND | CUSIP: 28414HAG8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25534.94     | 0.51%             | 2028-08-28      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HLTH       | CORPBOND | CUSIP: 29261AAA8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39550.00     | 0.78%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HLDGS      | CORPBOND | CUSIP: 29272WAC3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49250.00     | 0.98%             | 2028-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC         | CORPBOND | CUSIP: 29362UAD6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $37900.00     | 0.75%             | 2029-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| FMG RES AUG 2006     | CORPBOND | CUSIP: 30251GBE6<br>LEI: N/A | Long             | DBT              | CORP              | AU        |     40000 | NS      | $40987.32     | 0.81%             | 2032-04-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER     | CORPBOND | CUSIP: 31659AAA4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25437.50     | 0.50%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY     | CORPBOND | CUSIP: 344045AA7<br>LEI: N/A | Long             | DBT              | CORP              | IE        |     25000 | NS      | $25426.88     | 0.50%             | 2029-04-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL      | CORPBOND | CUSIP: 34417VAA5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24968.75     | 0.49%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CO        | CORPBOND | CUSIP: 345370CA6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $26952.85     | 0.53%             | 2031-07-16      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CRED      | CORPBOND | CUSIP: 345397B69<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $44941.75     | 0.89%             | 2031-06-17      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERME     | CORPBOND | CUSIP: 34966MAA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24937.50     | 0.49%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINC     | CORPBOND | CUSIP: 35901MAA5<br>LEI: N/A | Long             | DBT              | CORP              | LU        |     30000 | NS      | $29212.50     | 0.58%             | 2032-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNI     | CORPBOND | CUSIP: 35906ABF4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25062.50     | 0.50%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLP CAP/FIN II       | CORPBOND | CUSIP: 361841AL3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25219.70     | 0.50%             | 2029-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GARDA SECURITY       | CORPBOND | CUSIP: 36485MAQ2<br>LEI: N/A | Long             | DBT              | CORP              | CA        |     25000 | NS      | $25343.75     | 0.50%             | 2031-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GARRETT MOT/SARL     | CORPBOND | CUSIP: 366504AA6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $36312.50     | 0.72%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMIN     | CORPBOND | CUSIP: 371559AB1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $40400.00     | 0.80%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGIN     | CORPBOND | CUSIP: 38869AAB3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $38700.00     | 0.77%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS        | CORPBOND | CUSIP: 42704LAF1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     30000 | NS      | $30750.00     | 0.61%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC      | CORPBOND | CUSIP: 432833AF8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39400.00     | 0.78%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND         | CORPBOND | CUSIP: 43283QAC4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24781.25     | 0.49%             | 2032-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| INEOS FINANCE PL     | CORPBOND | CUSIP: 44984WAJ6<br>LEI: N/A | Long             | DBT              | CORP              | GB        |     35000 | NS      | $34017.76     | 0.67%             | 2029-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IQVIA INC            | CORPBOND | CUSIP: 449934AD0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24953.13     | 0.49%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTER/FIN      | CORPBOND | CUSIP: 451102CC9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $29837.50     | 0.59%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOTTERY P | CORPBOND | CUSIP: 460599AE3<br>LEI: N/A | Long             | DBT              | CORP              | GB        |     40000 | NS      | $39600.00     | 0.78%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN        | CORPBOND | CUSIP: 46284VAG6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49687.50     | 0.98%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP      | CORPBOND | CUSIP: 47077WAC2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     30000 | NS      | $30712.50     | 0.61%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| KB HOME              | CORPBOND | CUSIP: 48666KAY5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $38800.00     | 0.77%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| L BRANDS INC         | CORPBOND | CUSIP: 501797AW4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $40400.00     | 0.80%             | 2030-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP     | CORPBOND | CUSIP: 513075BW0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24687.50     | 0.49%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS         | CORPBOND | CUSIP: 52736RBJ0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $45812.50     | 0.91%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC        | CORPBOND | CUSIP: 53190FAE5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25187.50     | 0.50%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS          | CORPBOND | CUSIP: 552953CF6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35131.25     | 0.70%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MPT OP PTNR/FINL     | CORPBOND | CUSIP: 55342UAQ7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25406.25     | 0.50%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL ED       | CORPBOND | CUSIP: 58064LAA2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25343.75     | 0.50%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC       | CORPBOND | CUSIP: 629377CQ3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $47313.00     | 0.94%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP         | CORPBOND | CUSIP: 63938CAM0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $45437.50     | 0.90%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEXSTAR ESCROW       | CORPBOND | CUSIP: 65343HAA9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $50000.00     | 0.99%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NORTONLIFELOCK       | CORPBOND | CUSIP: 668771AL2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35481.25     | 0.70%             | 2030-09-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC /     | CORPBOND | CUSIP: 68245XAJ8<br>LEI: N/A | Long             | DBT              | CORP              | CA        |     50000 | NS      | $49375.00     | 0.98%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE      | CORPBOND | CUSIP: 682691AF7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25125.00     | 0.50%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP       | CORPBOND | CUSIP: 683715AD8<br>LEI: N/A | Long             | DBT              | CORP              | CA        |     35000 | NS      | $31281.25     | 0.62%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA C     | CORPBOND | CUSIP: 69007TAB0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34912.50     | 0.69%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY       | CORPBOND | CUSIP: 69073TAU7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $33250.00     | 0.66%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW       | CORPBOND | CUSIP: 69867RAA5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $40200.00     | 0.80%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESR OPR     | CORPBOND | CUSIP: 71424VAA8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25968.75     | 0.51%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE      | CORPBOND | CUSIP: 71429MAC9<br>LEI: N/A | Long             | DBT              | CORP              | IE        |     40000 | NS      | $36196.00     | 0.72%             | 2030-06-15      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS IN     | CORPBOND | CUSIP: 737446AQ7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24093.75     | 0.48%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ADT CORP             | CORPBOND | CUSIP: 74166NAA2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $46812.50     | 0.93%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDING     | CORPBOND | CUSIP: 74843PAB6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35525.00     | 0.70%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RLJ LDGING TRUST     | CORPBOND | CUSIP: 74965LAA9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34912.50     | 0.69%             | 2026-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE/CO-I     | CORPBOND | CUSIP: 75606DAS0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25093.75     | 0.50%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING      | CORPBOND | CUSIP: 76119LAB7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $46734.50     | 0.93%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN      | CORPBOND | CUSIP: 780153BW1<br>LEI: N/A | Long             | DBT              | CORP              | LR        |     40000 | NS      | $40444.52     | 0.80%             | 2031-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIO     | CORPBOND | CUSIP: 78410GAD6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34737.50     | 0.69%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO         | CORPBOND | CUSIP: 78454LAY6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25531.25     | 0.51%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SS&C TECH INC        | CORPBOND | CUSIP: 78466CAD8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35218.75     | 0.70%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP      | CORPBOND | CUSIP: 81211KAK6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $33600.00     | 0.67%             | 2033-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS       | CORPBOND | CUSIP: 81282UAG7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $33512.50     | 0.66%             | 2029-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SELECT MEDICAL       | CORPBOND | CUSIP: 816196AV1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $38050.00     | 0.75%             | 2032-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH BV      | CORPBOND | CUSIP: 81725WAL7<br>LEI: N/A | Long             | DBT              | CORP              | NL        |     35000 | NS      | $35121.07     | 0.70%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP         | CORPBOND | CUSIP: 817565CF9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $46250.00     | 0.92%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO      | CORPBOND | CUSIP: 82967NBA5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     30000 | NS      | $29981.25     | 0.59%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT        | CORPBOND | CUSIP: 83002YAA7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35000.00     | 0.69%             | 2032-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX     | CORPBOND | CUSIP: 83283WAE3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35962.50     | 0.71%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HO     | CORPBOND | CUSIP: 83600WAE9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $41400.00     | 0.82%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| STANDARD INDS IN     | CORPBOND | CUSIP: 853496AG2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $47062.50     | 0.93%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROP TR     | CORPBOND | CUSIP: 85571BBD6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25375.00     | 0.50%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE     | CORPBOND | CUSIP: 864486AL9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $32900.00     | 0.65%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUP     | CORPBOND | CUSIP: 87422VAM0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24812.50     | 0.49%             | 2034-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TARGA RES PRTNRS     | CORPBOND | CUSIP: 87612BBQ4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25214.73     | 0.50%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TELECOM IT CAP       | CORPBOND | CUSIP: 87927VAM0<br>LEI: N/A | Long             | DBT              | CORP              | LU        |     25000 | NS      | $25452.50     | 0.50%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE     | CORPBOND | CUSIP: 88033GDM9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $48625.00     | 0.96%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TEREX CORP           | CORPBOND | CUSIP: 880779BA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49312.50     | 0.98%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTI     | CORPBOND | CUSIP: 88167AAK7<br>LEI: N/A | Long             | DBT              | CORP              | NL        |     40000 | NS      | $40950.00     | 0.81%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES      | CORPBOND | CUSIP: 885160AA9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $33031.25     | 0.65%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC        | CORPBOND | CUSIP: 893647BV8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $51093.75     | 1.01%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE     | CORPBOND | CUSIP: 894164AC6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24593.75     | 0.49%             | 2033-09-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| II-VI INC            | CORPBOND | CUSIP: 902104AC2<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34409.38     | 0.68%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES      | CORPBOND | CUSIP: 90932LAH0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39129.90     | 0.78%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| UNITED RENTAL NA     | CORPBOND | CUSIP: 911365BL7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $34956.25     | 0.69%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMM       | CORPBOND | CUSIP: 914906AY8<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25437.50     | 0.50%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL L     | CORPBOND | CUSIP: 92332YAB7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $26031.25     | 0.52%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES      | CORPBOND | CUSIP: 92564RAB1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24611.29     | 0.49%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VICTORIAS SECRE      | CORPBOND | CUSIP: 926400AA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     30000 | NS      | $28725.00     | 0.57%             | 2029-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FIN     | CORPBOND | CUSIP: 92769VAJ8<br>LEI: N/A | Long             | DBT              | CORP              | GB        |     25000 | NS      | $20656.25     | 0.41%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATION     | CORPBOND | CUSIP: 92840VAF9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     50000 | NS      | $49875.00     | 0.99%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT L     | CORPBOND | CUSIP: 92921EAA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $25906.25     | 0.51%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION      | CORPBOND | CUSIP: 92933BAR5<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $36598.76     | 0.72%             | 2031-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING        | CORPBOND | CUSIP: 92944BAB7<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24875.00     | 0.49%             | 2033-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUT      | CORPBOND | CUSIP: 95081QAP9<br>LEI: N/A | Long             | DBT              | CORP              | US        |     35000 | NS      | $35218.75     | 0.70%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WYNDHAM HOTELS &     | CORPBOND | CUSIP: 98311AAB1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39050.00     | 0.77%             | 2028-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS       | CORPBOND | CUSIP: 983130AX3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $39950.00     | 0.79%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FIN     | CORPBOND | CUSIP: 983133AC3<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $41900.00     | 0.83%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| XPO INC              | CORPBOND | CUSIP: 98379KAA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |     40000 | NS      | $40600.00     | 0.80%             | 2028-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC      | CORPBOND | CUSIP: 988498AP6<br>LEI: N/A | Long             | DBT              | CORP              | US        |     25000 | NS      | $24000.00     | 0.48%             | 2032-01-31      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financ | MONEYMKT | CUSIP: 38141W273<br>LEI: N/A | Long             | STIV             |  | US        |    178395 | NS      | $178394.56    | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-19

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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