# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-26-000173
**Filing Date:** 2026-1
**Character Count:** 16687
**Document Hash:** 3d53abb7764c30383baf6f7380025007
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000173.hdr.sgml**: 20260126

**ACCESSION NUMBER**: 0002000324-26-000173

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260126

**DATE AS OF CHANGE**: 20260126

**PERIOD START**: 20260831

**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:** 26560210

**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

### Select STOXX Europe Aerospace & Defense ETF (Series ID: S000087726)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000253611 | Select STOXX Europe Aerospace & Defense ETF | EUAD            |

## Nport-Ex

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | XTR_GROUP1 | XTR_GROUP2 | XTR_CATGRY | XTR_CATDSC | XTR_SECTOR | XTR_SECTR1 | XTR_SECTR2 | XTR_CONTRY | XTR_CONDSC | XTR_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | XTR_PRISRC | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 447 | SELECT STOXX EUROPE AEROSPACE | EADSY | Airbus SE |  |  | 009279100 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 57.75 |  |  |  |  |  | Airbus SE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 4456044.00 | 228749032.85 | 228825008.55 | 257336541.00 | 257336541.00 | 28511532.45 | 28511532.45 | 0.00 | False | 0.00 | N/A | 25.45 | 22.37 | 23.10 | 0.00 |  |  | EADSY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | BAESY | BAE Systems PLC |  |  | 05523R107 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 85.71 |  |  |  |  |  | BAE Systems PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1788733.17 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 1271310.00 | 125443650.26 | 125443653.81 | 108963980.10 | 108963980.10 | -16479673.71 | -16479673.71 | 1.64 | False | 0.00 | N/A | 10.78 | 9.47 | 9.78 | 0.00 |  |  | BAESY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | FINMY | Leonardo SpA |  |  | 52660W101 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | ITL | ITALY |  | USD | US DOLLAR | 1/0/1900 |  |  | 27.43 |  |  |  |  |  | Leonardo SpA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 2078718.00 | 57963795.18 | 58005173.27 | 57019234.74 | 57019234.74 | -985938.53 | -985938.53 | 0.00 | False | 0.00 | N/A | 5.64 | 4.96 | 5.12 | 0.00 |  | 529900X4EEX1U9LN3U39 | FINMY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | MTUAY | MTU Aero Engines AG |  |  | 62473G102 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 204.46 |  |  |  |  |  | MTU Aero Engines AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 178642.00 | 35873284.26 | 35878268.02 | 36525143.32 | 36525143.32 | 646875.30 | 646875.30 | 0.00 | False | 0.00 | N/A | 3.61 | 3.18 | 3.28 | 0.00 |  | 529900807L67JY81RD65 | MTUAY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | QNTQY | QinetiQ Group PLC |  |  | 74732F106 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 22.25 |  |  |  |  |  | QinetiQ Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 269967.00 | 6926510.53 | 6926510.53 | 6007413.67 | 6007413.67 | -919096.86 | -919096.86 | 0.00 | False | 0.00 | N/A | 0.59 | 0.52 | 0.54 | 0.00 |  |  | QNTQY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | RNMBY | Rheinmetall AG |  |  | 76206K107 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 339.44 |  |  |  |  |  | Rheinmetall AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 397368.00 | 158528658.06 | 158533515.25 | 134882593.92 | 134882593.92 | -23650921.33 | -23650921.33 | 0.00 | False | 0.00 | N/A | 13.34 | 11.73 | 12.11 | 0.00 |  | 5299001OU9CSE29O6S05 | RNMBY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | RYCEY | Rolls-Royce Holdings | PLC |  | 775781206 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 14.09 |  |  |  |  |  | Rolls-Royce Holdings | PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 6898994.00 | 94136318.64 | 94252900.70 | 97206825.46 | 97206825.46 | 2953924.76 | 2953924.76 | 0.00 | False | 0.00 | N/A | 9.62 | 8.45 | 8.72 | 0.00 |  | 213800EC7997ZBLZJH69 | RYCEY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | SAABY | Saab AB |  |  | 78516J101 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | SEK | SWEDEN |  | USD | US DOLLAR | 1/0/1900 |  |  | 25.20 |  |  |  |  |  | Saab AB |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 1785288.00 | 43398244.21 | 43404296.63 | 44989257.60 | 44989257.60 | 1584960.97 | 1584960.97 | 0.00 | False | 0.00 | N/A | 4.45 | 3.91 | 4.04 | 0.00 |  |  | SAABY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | SAFRY | Safran SA |  |  | 786584102 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 83.56 |  |  |  |  |  | Safran SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 1269737.00 | 99579586.23 | 99633803.26 | 106099223.72 | 106099223.72 | 6465420.46 | 6465420.46 | 0.00 | False | 0.00 | N/A | 10.49 | 9.22 | 9.52 | 0.00 |  | 969500UIC89GT3UL7L24 | SAFRY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | THLLY | Thales SA |  |  | 883219206 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 50.98 |  |  |  |  |  | Thales SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 2074625.00 | 118420035.21 | 118444958.54 | 105764382.50 | 105764382.50 | -12680576.04 | -12680576.04 | 0.00 | False | 0.00 | N/A | 10.46 | 9.20 | 9.49 | 0.00 |  | 529900FNDVTQJOVVPZ19 | THLLY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | BCKIY | Babcock Internationa | l Group PLC |  | 056155104 | 1025 | Commercial Services |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 15.27 |  |  |  |  |  | Babcock Internationa | l Group PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 617961.00 | 7939331.98 | 7939333.68 | 9436264.47 | 9436264.47 | 1496930.79 | 1496930.79 | 0.00 | False | 0.00 | N/A | 0.93 | 0.82 | 0.85 | 0.00 |  | 213800TSKOLX4EU6L377 | BCKIY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | CMGMY | Chemring Group PLC |  |  | 163867104 | 1076 | Miscellaneous Manufa |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 6.75 |  |  |  |  |  | Chemring Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 677975.00 | 4464246.88 | 4470552.98 | 4576331.25 | 4576331.25 | 105778.27 | 105778.27 | 0.00 | False | 0.00 | N/A | 0.45 | 0.40 | 0.41 | 0.00 |  | 213800U9A54VQJ5P2J41 | CMGMY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | HAGHY | Hensoldt AG |  |  | 42701C107 | 1097 | Semiconductor Device |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 40.00 |  |  |  |  |  | Hensoldt AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 343978.00 | 16129448.90 | 16136757.15 | 13759120.00 | 13759120.00 | -2377637.15 | -2377637.15 | 0.00 | False | 0.00 | N/A | 1.36 | 1.20 | 1.23 | 0.00 |  | 894500686FYLLZD3M624 | HAGHY<br> N | MP |
| 447 | SELECT STOXX EUROPE AEROSPACE | AMBXX | UMB MONEY MARKET | SPECIAL II |  | SF8888628 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES<br> MA | MASSACHUSETTS | USD | US DOLLAR | 11/29/2025 |  |  | 100.00 |  |  |  |  |  | UMB MONEY MARKET | SPECIAL II |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1206777.06 | L<br> N |  |  | 11/28/2025<br> C |  | 447;USD | USD | 28394841.16 | 28394841.16 | 28394841.16 | 28394841.16 | 28394841.16 | 0.00 | 0.00 | 4.85 | False | 4.83 |  | 2.81 | 2.47 | 2.55 | 0.00 |  |  | AMBXX<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:** Select STOXX Europe Aerospace & Defense ETF

- **b. EDGAR series identifier (if any):** S000087726

- **c. LEI of Series:** 529900KKTR2O8XKSJV77

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1150226074.81

**Total Liabilities:** $36090317.98

**Net Assets:** $1114135756.83

**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 C000253611 | 11.72%               | -5.56%               | -9.01%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $20929306.66             | $102443923.06                              |
| Month 2  | $5302822.00              | $-76682568.64                              |
| Month 3  | $11356949.67             | $-114667054.89                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BAE Systems PLC      | COMMSTCK | CUSIP: 05523R107<br>LEI: N/A | Long             | EC               | CORP              | GB        |   1271310 | NS      | $108963980.10 | 9.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock Internationa | COMMSTCK | CUSIP: 056155104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    617961 | NS      | $9436264.47   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemring Group PLC   | COMMSTCK | CUSIP: 163867104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    677975 | NS      | $4576331.25   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE            | COMMSTCK | CUSIP: 009279100<br>LEI: N/A | Long             | EC               | CORP              | FR        |   4456044 | NS      | $257336541.00 | 23.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA         | COMMSTCK | CUSIP: 52660W101<br>LEI: N/A | Long             | EC               | CORP              | IT        |   2078718 | NS      | $57019234.74  | 5.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG          | COMMSTCK | CUSIP: 42701C107<br>LEI: N/A | Long             | EC               | CORP              | DE        |    343978 | NS      | $13759120.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG  | COMMSTCK | CUSIP: 62473G102<br>LEI: N/A | Long             | EC               | CORP              | DE        |    178642 | NS      | $36525143.32  | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group PLC    | COMMSTCK | CUSIP: 74732F106<br>LEI: N/A | Long             | EC               | CORP              | GB        |    269967 | NS      | $6007413.67   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG       | COMMSTCK | CUSIP: 76206K107<br>LEI: N/A | Long             | EC               | CORP              | DE        |    397368 | NS      | $134882593.92 | 12.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings | COMMSTCK | CUSIP: 775781206<br>LEI: N/A | Long             | EC               | CORP              | GB        |   6898994 | NS      | $97206825.46  | 8.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB              | COMMSTCK | CUSIP: 78516J101<br>LEI: N/A | Long             | EC               | CORP              | SE        |   1785288 | NS      | $44989257.60  | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA            | COMMSTCK | CUSIP: 786584102<br>LEI: N/A | Long             | EC               | CORP              | FR        |   1269737 | NS      | $106099223.72 | 9.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA            | COMMSTCK | CUSIP: 883219206<br>LEI: N/A | Long             | EC               | CORP              | FR        |   2074625 | NS      | $105764382.50 | 9.49%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET     | MONEYMKT | CUSIP: SF8888628<br>LEI: N/A | Long             | STIV             |  | US        |  28394841 | NS      | $28394841.16  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-22

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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