# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-26-000584
**Filing Date:** 2026-2
**Character Count:** 38555
**Document Hash:** 01db9c9f98790ff31dd5dcf833469f91
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000584.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0002000324-26-000584

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**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:** 26668358

**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

### North Shore Equity Rotation ETF (Series ID: S000084308)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000248645 | North Shore Equity Rotation ETF | KOOL            |

## 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 | LONGSHORT | 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 |
| 441 | North Shore Equity Rotation ETF | KTB | KONTOOR BRANDS INC |  |  | 50050N103 | 1009 | Apparel |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 1/0/1900 |  |  | 61.09 |  |  |  |  |  | KONTOOR BRANDS INC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 30512.32 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 15728.00 | 1104210.89 | 1104210.89 | 960823.52 | 960823.52 | -143387.37 | -143387.37 | 3.18 | False | 0.00 | N/A | 1.83 | 1.83 | 1.83 | 0.00 |  |  | KTB<br> N | MP |
| 441 | North Shore Equity Rotation ETF | BAC | Bank of America Corp |  |  | 060505104 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 1/0/1900 |  |  | 55.00 |  |  |  |  |  | Bank of America Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 20084.52 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 21831.00 | 1000974.83 | 1000974.83 | 1200705.00 | 1200705.00 | 199730.17 | 199730.17 | 1.67 | False | 0.00 | N/A | 2.29 | 2.29 | 2.29 | 0.00 |  |  | BAC<br> N | MP |
| 441 | North Shore Equity Rotation ETF | COF | Capital One Financia | l Corp |  | 14040H105 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 1/0/1900 |  |  | 242.36 |  |  |  |  |  | Capital One Financia | l Corp |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10819.20 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 4508.00 | 883680.12 | 883680.12 | 1092558.88 | 1092558.88 | 208878.76 | 208878.76 | 0.99 | False | 0.00 | N/A | 2.09 | 2.08 | 2.09 | 0.00 |  |  | COF<br> N | MP |
| 441 | North Shore Equity Rotation ETF | APD | Air Products & Chemi | cals Inc |  | 009158106 | 1021 | Specialty Chemicals |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 247.02 |  |  |  |  |  | Air Products & Chemi | cals Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 30058.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 4294.00 | 1109214.80 | 1109214.80 | 1060703.88 | 1060703.88 | -48510.92 | -48510.92 | 2.83 | False | 0.00 | N/A | 2.02 | 2.02 | 2.03 | 0.00 |  |  | APD<br> N | MP |
| 441 | North Shore Equity Rotation ETF | PWR | Quanta Services Inc |  |  | 74762E102 | 1025 | Commercial Services |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 422.06 |  |  |  |  |  | Quanta Services Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1700.49 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 5153.00 | 1465373.24 | 1465373.24 | 2174875.18 | 2174875.18 | 709501.94 | 709501.94 | 0.08 | False | 0.00 | N/A | 4.15 | 4.15 | 4.15 | 0.00 |  |  | PWR<br> N | MP |
| 441 | North Shore Equity Rotation ETF | AAPL | Apple Inc |  |  | 037833100 | 1027 | IT Services |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 271.86 |  |  |  |  |  | Apple Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7509.75 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 7905.00 | 1465491.64 | 1465491.64 | 2149053.30 | 2149053.30 | 683561.66 | 683561.66 | 0.35 | False | 0.00 | N/A | 4.10 | 4.10 | 4.10 | 0.00 |  |  | AAPL<br> N | MP |
| 441 | North Shore Equity Rotation ETF | ARES | Ares Management Corp |  |  | 03990B101 | 1033 | Diversified Finan Se | rv | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 161.63 |  |  |  |  |  | Ares Management Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8621.60 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 3316.00 | 529315.20 | 529315.20 | 535965.08 | 535965.08 | 6649.88 | 6649.88 | 1.61 | False | 0.00 | N/A | 1.02 | 1.02 | 1.02 | 0.00 |  |  | ARES<br> N | MP |
| 441 | North Shore Equity Rotation ETF | HLI | Houlihan Lokey Inc |  |  | 441593100 | 1033 | Diversified Finan Se | rv | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 174.19 |  |  |  |  |  | Houlihan Lokey Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12604.76 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 5782.00 | 963901.53 | 963901.53 | 1007166.58 | 1007166.58 | 43265.05 | 43265.05 | 1.25 | False | 0.00 | N/A | 1.92 | 1.92 | 1.92 | 0.00 |  |  | HLI<br> N | MP |
| 441 | North Shore Equity Rotation ETF | DUK | Duke Energy Corp |  |  | 26441C204 | 1034 | Electric |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 1/0/1900 |  |  | 117.21 |  |  |  |  |  | Duke Energy Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 26325.04 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 6484.00 | 772213.96 | 772213.96 | 759989.64 | 759989.64 | -12224.32 | -12224.32 | 3.46 | False | 0.00 | N/A | 1.45 | 1.45 | 1.45 | 0.00 |  |  | DUK<br> N | MP |
| 441 | North Shore Equity Rotation ETF | NEE | NextEra Energy Inc |  |  | 65339F101 | 1034 | Electric |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 1/0/1900 |  |  | 80.28 |  |  |  |  |  | NextEra Energy Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23943.48 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 12804.00 | 906048.85 | 906048.85 | 1027905.12 | 1027905.12 | 121856.27 | 121856.27 | 2.33 | False | 0.00 | N/A | 1.96 | 1.96 | 1.96 | 0.00 |  |  | NEE<br> N | MP |
| 441 | North Shore Equity Rotation ETF | CLS | Celestica Inc |  |  | 15101Q207 | 1036 | Electronics |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 295.61 |  |  |  |  |  | Celestica Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 2512.00 | 798715.76 | 798715.76 | 742572.32 | 742572.32 | -56143.44 | -56143.44 | 0.00 | False | 0.00 | N/A | 1.42 | 1.42 | 1.42 | 0.00 |  | 549300J3CG5T6RZWLN53 | CLS<br> N | MP |
| 441 | North Shore Equity Rotation ETF | KEYS | Keysight Technologie | s Inc |  | 49338L103 | 1036 | Electronics |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 203.19 |  |  |  |  |  | Keysight Technologie | s Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 2706.00 | 544613.57 | 544613.57 | 549832.14 | 549832.14 | 5218.57 | 5218.57 | 0.00 | False | 0.00 | N/A | 1.05 | 1.05 | 1.05 | 0.00 |  |  | KEYS<br> N | MP |
| 441 | North Shore Equity Rotation ETF | NVT | nVent Electric PLC |  |  | G6700G107 | 1038 | Engineering&Construc | tion | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 101.97 |  |  |  |  |  | nVent Electric PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5624.50 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 8035.00 | 875530.49 | 875530.49 | 819328.95 | 819328.95 | -56201.54 | -56201.54 | 0.69 | False | 0.00 | N/A | 1.56 | 1.56 | 1.56 | 0.00 |  |  | NVT<br> N | MP |
| 441 | North Shore Equity Rotation ETF | ABT | Abbott Laboratories |  |  | 002824100 | 1054 | Healthcare-Products |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 125.29 |  |  |  |  |  | Abbott Laboratories |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12847.92 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 6298.00 | 810147.71 | 810147.71 | 789076.42 | 789076.42 | -21071.29 | -21071.29 | 1.63 | False | 0.00 | N/A | 1.51 | 1.51 | 1.51 | 0.00 |  |  | ABT<br> N | MP |
| 441 | North Shore Equity Rotation ETF | AON | AON PLC |  |  | G0403H108 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 352.88 |  |  |  |  |  | AON PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8532.94 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 3548.00 | 1250865.62 | 1250865.62 | 1252018.24 | 1252018.24 | 1152.62 | 1152.62 | 0.68 | False | 0.00 | N/A | 2.39 | 2.39 | 2.39 | 0.00 |  |  | AON | MP |
| 441 | North Shore Equity Rotation ETF | GOOGL | Alphabet Inc |  |  | 02079K305 | 1063 | Internet |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 313.00 |  |  |  |  |  | Alphabet Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 4861.00 | 792960.37 | 792960.37 | 1521493.00 | 1521493.00 | 728532.63 | 728532.63 | 0.00 | False | 0.00 | N/A | 2.90 | 2.90 | 2.91 | 0.00 |  |  | GOOGL<br> N | MP |
| 441 | North Shore Equity Rotation ETF | AMZN | Amazon.com Inc |  |  | 023135106 | 1063 | Internet |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 1/0/1900 |  |  | 230.82 |  |  |  |  |  | Amazon.com Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 8908.00 | 1647727.71 | 1647727.71 | 2056144.56 | 2056144.56 | 408416.85 | 408416.85 | 0.00 | False | 0.00 | N/A | 3.92 | 3.92 | 3.93 | 0.00 |  |  | AMZN | MP |
| 441 | North Shore Equity Rotation ETF | META | META PLATFORMS INC. |  |  | 30303M102 | 1063 | Internet |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 660.09 |  |  |  |  |  | META PLATFORMS INC. |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 2397.00 | 1384794.55 | 1384794.55 | 1582235.73 | 1582235.73 | 197441.18 | 197441.18 | 0.00 | False | 0.00 | N/A | 3.02 | 3.02 | 3.02 | 0.00 |  |  | META<br> N | MP |
| 441 | North Shore Equity Rotation ETF | WYNN | Wynn Resorts Ltd |  |  | 983134107 | 1067 | Lodging |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NV | NEVADA | USD | US DOLLAR | 1/0/1900 |  |  | 120.33 |  |  |  |  |  | Wynn Resorts Ltd |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4740.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 6320.00 | 810082.10 | 810082.10 | 760485.60 | 760485.60 | -49596.50 | -49596.50 | 0.62 | False | 0.00 | N/A | 1.45 | 1.45 | 1.45 | 0.00 |  |  | WYNN | MP |
| 441 | North Shore Equity Rotation ETF | GEV | GE Vernova Inc |  |  | 36828A101 | 1070 | Machinery-Constr&Min |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 653.57 |  |  |  |  |  | GE Vernova Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 1896.00 | 615823.25 | 615823.25 | 1239168.72 | 1239168.72 | 623345.47 | 623345.47 | 0.00 | False | 0.00 | N/A | 2.37 | 2.36 | 2.37 | 0.00 |  | 254900DP080RU6OK2553 | GEV<br> N | MP |
| 441 | North Shore Equity Rotation ETF | CCJ | Cameco Corp |  |  | 13321L108 | 1075 | Mining |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 91.49 |  |  |  |  |  | Cameco Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2960.40 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 24670.00 | 1373930.95 | 1373930.95 | 2257058.30 | 2257058.30 | 883127.35 | 883127.35 | 0.13 | False | 0.00 | N/A | 4.31 | 4.30 | 4.31 | 0.00 |  |  | CCJ<br> N | MP |
| 441 | North Shore Equity Rotation ETF | EQT | EQT Corp |  |  | 26884L109 | 1083 | Exploration and Prod | uction | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 53.60 |  |  |  |  |  | EQT Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10273.98 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 16898.00 | 928778.34 | 928778.34 | 905732.80 | 905732.80 | -23045.54 | -23045.54 | 1.13 | False | 0.00 | N/A | 1.73 | 1.73 | 1.73 | 0.00 |  |  | EQT<br> N | MP |
| 441 | North Shore Equity Rotation ETF | VLO | Valero Energy Corp |  |  | 91913Y100 | 1083 | Exploration and Prod | uction | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 162.79 |  |  |  |  |  | Valero Energy Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 21289.44 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 5218.00 | 809330.23 | 809330.23 | 849438.22 | 849438.22 | 40107.99 | 40107.99 | 2.51 | False | 0.00 | N/A | 1.62 | 1.62 | 1.62 | 0.00 |  |  | VLO<br> N | MP |
| 441 | North Shore Equity Rotation ETF | JNJ | Johnson & Johnson |  |  | 478160104 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 1/0/1900 |  |  | 206.95 |  |  |  |  |  | Johnson & Johnson |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 27871.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 5930.00 | 931972.96 | 931972.96 | 1227213.50 | 1227213.50 | 295240.54 | 295240.54 | 2.27 | False | 0.00 | N/A | 2.34 | 2.34 | 2.34 | 0.00 |  |  | JNJ<br> N | MP |
| 441 | North Shore Equity Rotation ETF | KMI | Kinder Morgan Inc/DE |  |  | 49456B101 | 1089 | Pipelines |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/0/1900 |  |  | 27.49 |  |  |  |  |  | Kinder Morgan Inc/DE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 65484.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 58208.00 | 1582940.24 | 1582940.24 | 1600137.92 | 1600137.92 | 17197.68 | 17197.68 | 4.09 | False | 0.00 | N/A | 3.05 | 3.05 | 3.06 | 0.00 |  |  | KMI<br> N | MP |
| 441 | North Shore Equity Rotation ETF | BRX | Brixmor Property Gro | up Inc |  | 11120U105 | 1090 | UNKNOWN - AUTOLOADED |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/0/1900 |  |  | 26.22 |  |  |  |  |  | Brixmor Property Gro | up Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 44242.85 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 42016.00 | 1084749.06 | 1084749.06 | 1101659.52 | 1101659.52 | 16910.46 | 16910.46 | 4.02 | False | 0.00 | N/A | 2.10 | 2.10 | 2.10 | 0.00 |  |  | BRX<br> N | MP |
| 441 | North Shore Equity Rotation ETF | MCD | McDonald's Corp |  |  | 580135101 | 1095 | Retail |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 305.63 |  |  |  |  |  | McDonald's Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 22758.19 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 3653.00 | 1108474.79 | 1108474.79 | 1116466.39 | 1116466.39 | 7991.60 | 7991.60 | 2.04 | False | 0.00 | N/A | 2.13 | 2.13 | 2.13 | 0.00 |  |  | MCD<br> N | MP |
| 441 | North Shore Equity Rotation ETF | WMT | Walmart Inc |  |  | 931142103 | 1095 | Retail |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | AR | ARKANSAS | USD | US DOLLAR | 1/0/1900 |  |  | 111.41 |  |  |  |  |  | Walmart Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14421.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 6325.00 | 612212.45 | 612212.45 | 704668.25 | 704668.25 | 92455.80 | 92455.80 | 2.05 | False | 0.00 | N/A | 1.34 | 1.34 | 1.35 | 0.00 |  |  | WMT<br> N | MP |
| 441 | North Shore Equity Rotation ETF | NVDA | NVIDIA Corp |  |  | 67066G104 | 1097 | Semiconductor Device |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 186.50 |  |  |  |  |  | NVIDIA Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2586.72 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 16167.00 | 1608844.71 | 1617363.34 | 3015145.50 | 3015145.50 | 1397782.16 | 1397782.16 | 0.09 | False | 0.00 | N/A | 5.75 | 5.75 | 5.76 | 0.00 |  |  | NVDA<br> N | MP |
| 441 | North Shore Equity Rotation ETF | HII | Huntington Ingalls I | ndustries Inc |  | 446413106 | 1098 | UNKNOWN - AUTOLOADED |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 1/0/1900 |  |  | 340.07 |  |  |  |  |  | Huntington Ingalls I | ndustries Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14543.20 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 2968.00 | 762112.17 | 762112.17 | 1009327.76 | 1009327.76 | 247215.59 | 247215.59 | 1.44 | False | 0.00 | N/A | 1.93 | 1.93 | 1.93 | 0.00 |  |  | HII<br> N | MP |
| 441 | North Shore Equity Rotation ETF | CDNS | Cadence Design Syste | ms Inc |  | 127387108 | 1099 | Application Software |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 312.58 |  |  |  |  |  | Cadence Design Syste | ms Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 2604.00 | 899100.63 | 899100.63 | 813958.32 | 813958.32 | -85142.31 | -85142.31 | 0.00 | False | 0.00 | N/A | 1.55 | 1.55 | 1.55 | 0.00 |  |  | CDNS<br> N | MP |
| 441 | North Shore Equity Rotation ETF | UBER | UBER TECH. |  |  | 90353T100 | 1107 | Transportation |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 81.71 |  |  |  |  |  | UBER TECH. |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 11980.00 | 846749.35 | 846749.35 | 978885.80 | 978885.80 | 132136.45 | 132136.45 | 0.00 | False | 0.00 | N/A | 1.87 | 1.87 | 1.87 | 0.00 |  |  | UBER<br> N | MP |
| 441 | North Shore Equity Rotation ETF | MSFT | Microsoft Corp |  |  | 594918104 | D50D | Software |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 1/0/1900 |  |  | 483.62 |  |  |  |  |  | Microsoft Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12853.53 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 4607.00 | 1968086.38 | 1968086.38 | 2228037.34 | 2228037.34 | 259950.96 | 259950.96 | 0.58 | False | 0.00 | N/A | 4.25 | 4.25 | 4.26 | 0.00 |  |  | MSFT<br> N | MP |
| 441 | North Shore Equity Rotation ETF | EDIV | SPDR S&P Emerging Ma | rkets Dividend ETF |  | 78463X533 | 1016 | Beverages |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 39.15 |  |  |  |  |  | SPDR S&P Emerging Ma | rkets Dividend ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 15234.00 | 594150.32 | 594150.32 | 596411.10 | 596411.10 | 2260.78 | 2260.78 | 0.00 | False | 0.00 | N/A | 1.14 | 1.14 | 1.14 | 0.00 |  | 5493000CJCE3FTDXMN84 | EDIV<br> N | MP |
| 441 | North Shore Equity Rotation ETF | EFA | ISHARE MSCI EAFE ETF |  |  | 464287465 | 1040 | Exchange Traded Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 1/0/1900 |  |  | 96.03 |  |  |  |  |  | ISHARE MSCI EAFE ETF |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 22926.69 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 10226.00 | 981411.93 | 981411.93 | 982002.78 | 982002.78 | 590.85 | 590.85 | 2.33 | False | 0.00 | N/A | 1.87 | 1.87 | 1.88 | 0.00 |  |  | EFA<br> N | MP |
| 441 | North Shore Equity Rotation ETF | XLV | Health Care Select S | ector SPDR Fund |  | 81369Y209 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 154.80 |  |  |  |  |  | Health Care Select S | ector SPDR Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28764.07 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 15129.00 | 2116351.98 | 2116351.98 | 2341969.20 | 2341969.20 | 225617.22 | 225617.22 | 1.23 | False | 0.00 | N/A | 4.47 | 4.47 | 4.47 | 0.00 |  |  | XLV<br> N | MP |
| 441 | North Shore Equity Rotation ETF | IVV | iShares Core S&P 500 | ETF |  | 464287200 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 1/0/1900 |  |  | 684.94 |  |  |  |  |  | iShares Core S&P 500 | ETF |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 47596.20 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 6899.00 | 4597193.72 | 4597193.72 | 4725401.06 | 4725401.06 | 128207.34 | 128207.34 | 1.01 | False | 0.00 | N/A | 9.02 | 9.01 | 9.02 | 0.00 |  |  | IVV<br> N | MP |
| 441 | North Shore Equity Rotation ETF | XLK | Technology Select Se | ctor SPDR Fund |  | 81369Y803 | 1041 | Equity Fund |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 1/0/1900 |  |  | 143.97 |  |  |  |  |  | Technology Select Se | ctor SPDR Fund |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 20849.11 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 14290.00 | 1514353.92 | 1514353.92 | 2057331.30 | 2057331.30 | 542977.38 | 542977.38 | 1.01 | False | 0.00 | N/A | 3.93 | 3.92 | 3.93 | 0.00 |  |  | XLK<br> N | MP |
| 441 | North Shore Equity Rotation ETF | SPEM | SPDR PORTFOLIO | EMERGING MARKETS |  | 78463X509 | 1064 | Investment Companies |  | ETF | EXCHANGE TRADED FUND | EXCHANGE TRADED FUND |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 46.81 |  |  |  |  |  | SPDR PORTFOLIO | EMERGING MARKETS |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16724.33 |  | L<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | 12828.00 | 598864.48 | 598864.48 | 600478.68 | 600478.68 | 1614.20 | 1614.20 | 2.79 | False | 0.00 | N/A | 1.15 | 1.15 | 1.15 | 0.00 |  |  | SPEM<br> N | MP |
| 441 | North Shore Equity Rotation ETF | 300D4141 | GEV 260102C0081000 |  | GEV 260102C00810000 | GEV260102C810.0 |  | UNGROUPED SECURITIES |  | OPTION | OPTION |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/3/2026 |  |  | 2.15 |  |  |  |  |  | GEV 260102C0081000 |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 |  | S<br> N |  |  | 12/31/2025<br> C |  | 441;USD | USD | -4.00 | -2295.94 | -2295.94 | -860.00 | -860.00 | 1435.94 | 1435.94 | 0.00 | False | 0.00 | N/A | 0.00 | 0.00 | 0.00 | 0.00 |  |  | 300D4141<br> N | MP |

---

## 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:** North Shore Equity Rotation ETF

- **b. EDGAR series identifier (if any):** S000084308

- **c. LEI of Series:** 529900LHZMBPDF9FLG21

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $52430165.40

**Total Liabilities:** $67694.41

**Net Assets:** $52362470.99

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248645 | 1.57%                | -0.25%               | -1.02%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-550200.17              | $1363027.86                                |
| Month 2  | $661716.17               | $-843998.36                                |
| Month 3  | $-42556.58               | $-563574.76                                |

**Designated Index Information**

- **Index Name:** n/a

- **Index Identifier:** n/a

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Apple Inc            | COMMSTCK | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      7905 | NS      | $2149053.30   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories  | COMMSTCK | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      6298 | NS      | $789076.42    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc       | COMMSTCK | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      8908 | NS      | $2056144.56   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| AON PLC              | COMMSTCK | CUSIP: G0403H108<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      3548 | NS      | $1252018.24   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemi | COMMSTCK | CUSIP: 009158106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4294 | NS      | $1060703.88   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp | COMMSTCK | CUSIP: 03990B101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3316 | NS      | $535965.08    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp | COMMSTCK | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     21831 | NS      | $1200705.00   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Gro | COMMSTCK | CUSIP: 11120U105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42016 | NS      | $1101659.52   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp          | COMMSTCK | CUSIP: 13321L108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     24670 | NS      | $2257058.30   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Syste | COMMSTCK | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      2604 | NS      | $813958.32    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc        | COMMSTCK | CUSIP: 15101Q207<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      2512 | NS      | $742572.32    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financia | COMMSTCK | CUSIP: 14040H105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4508 | NS      | $1092558.88   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp     | COMMSTCK | CUSIP: 26441C204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6484 | NS      | $759989.64    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp             | COMMSTCK | CUSIP: 26884L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16898 | NS      | $905732.80    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc       | COMMSTCK | CUSIP: 36828A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1896 | NS      | $1239168.72   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc         | COMMSTCK | CUSIP: 02079K305<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4861 | NS      | $1521493.00   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls I | COMMSTCK | CUSIP: 446413106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2968 | NS      | $1009327.76   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc   | COMMSTCK | CUSIP: 441593100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5782 | NS      | $1007166.58   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson    | COMMSTCK | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      5930 | NS      | $1227213.50   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologie | COMMSTCK | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      2706 | NS      | $549832.14    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc/DE | COMMSTCK | CUSIP: 49456B101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58208 | NS      | $1600137.92   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KONTOOR BRANDS INC   | COMMSTCK | CUSIP: 50050N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15728 | NS      | $960823.52    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp      | COMMSTCK | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      3653 | NS      | $1116466.39   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC.  | COMMSTCK | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2397 | NS      | $1582235.73   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp       | COMMSTCK | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      4607 | NS      | $2228037.34   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc   | COMMSTCK | CUSIP: 65339F101<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EC               | CORP              | US        |     12804 | NS      | $1027905.12   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp          | COMMSTCK | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     16167 | NS      | $3015145.50   | 5.76%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC   | COMMSTCK | CUSIP: G6700G107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      8035 | NS      | $819328.95    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc  | COMMSTCK | CUSIP: 74762E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5153 | NS      | $2174875.18   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UBER TECH.           | COMMSTCK | CUSIP: 90353T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11980 | NS      | $978885.80    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp   | COMMSTCK | CUSIP: 91913Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5218 | NS      | $849438.22    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc          | COMMSTCK | CUSIP: 931142103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6325 | NS      | $704668.25    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Ltd     | COMMSTCK | CUSIP: 983134107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6320 | NS      | $760485.60    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Emerging Ma | ETF      | CUSIP: 78463X533<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15234 | NS      | $596411.10    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARE MSCI EAFE ETF | ETF      | CUSIP: 464287465<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10226 | NS      | $982002.78    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P 500 | ETF      | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | CORP              | US        |      6899 | NS      | $4725401.06   | 9.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR PORTFOLIO       | ETF      | CUSIP: 78463X509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12828 | NS      | $600478.68    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Technology Select Se | ETF      | CUSIP: 81369Y803<br>LEI: 549300BR5T0JNM2MW070 | Long             | EC               | CORP              | US        |     14290 | NS      | $2057331.30   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Health Care Select S | ETF      | CUSIP: 81369Y209<br>LEI: 549300EJNY3KKJHPOY44 | Long             | EC               | CORP              | US        |     15129 | NS      | $2341969.20   | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc       | OPTION   | CUSIP: 36828A101<br>LEI: N/A                  | Short            | DE               |  | US        |        -4 | NC      | $-860.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-26

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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