# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-25-003999
**Filing Date:** 2025-10
**Character Count:** 16672
**Document Hash:** 1b75a33a73a2fa59955bbe77d3e91103
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-003999.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0002000324-25-003999

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20250831

**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:** 251419357

**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 |  |  | 52.15 |  |  |  |  |  | Airbus SE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 4474680.00 | 211635072.38 | 211800827.46 | 233354562.00 | 233354562.00 | 21553734.54 | 21553734.54 | 0.00 | False | 0.00 | N/A | 20.53 | 17.03 | 18.29 | 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 |  |  | 94.24 |  |  |  |  |  | BAE Systems PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1822149.42 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 1295060.00 | 126978502.14 | 126978516.61 | 122046454.40 | 122046454.40 | -4932062.21 | -4932062.21 | 1.49 | False | 0.00 | N/A | 10.74 | 8.91 | 9.57 | 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 |  |  | 28.26 |  |  |  |  |  | Leonardo SpA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 1860863.00 | 51013353.18 | 51109455.40 | 52587988.38 | 52587988.38 | 1478532.98 | 1478532.98 | 0.00 | False | 0.00 | N/A | 4.63 | 3.84 | 4.12 | 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 |  |  | 223.04 |  |  |  |  |  | MTU Aero Engines AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 196178.00 | 39221880.09 | 39227767.80 | 43755541.12 | 43755541.12 | 4527773.32 | 4527773.32 | 0.00 | False | 0.00 | N/A | 3.85 | 3.19 | 3.43 | 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 |  |  | 26.73 |  |  |  |  |  | QinetiQ Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 296545.00 | 7651141.30 | 7651141.30 | 7926647.85 | 7926647.85 | 275506.55 | 275506.55 | 0.00 | False | 0.00 | N/A | 0.70 | 0.58 | 0.62 | 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 |  |  | 383.61 |  |  |  |  |  | Rheinmetall AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 442255.00 | 170437563.59 | 170457408.97 | 169653440.55 | 169653440.55 | -803968.42 | -803968.42 | 0.00 | False | 0.00 | N/A | 14.93 | 12.38 | 13.30 | 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 |  |  | 14.45 |  |  |  |  |  | Rolls-Royce Holdings | PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 8987614.00 | 103860133.31 | 104116004.24 | 129871022.30 | 129871022.30 | 25755018.06 | 25755018.06 | 0.00 | False | 0.00 | N/A | 11.43 | 9.48 | 10.18 | 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 |  |  | 28.29 |  |  |  |  |  | Saab AB |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 1962292.00 | 46912383.20 | 46919382.16 | 55513240.68 | 55513240.68 | 8593858.52 | 8593858.52 | 0.00 | False | 0.00 | N/A | 4.89 | 4.05 | 4.35 | 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 |  |  | 82.75 |  |  |  |  |  | Safran SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 2060265.00 | 151403762.02 | 151528163.74 | 170486928.75 | 170486928.75 | 18958765.01 | 18958765.01 | 0.00 | False | 0.00 | N/A | 15.00 | 12.44 | 13.36 | 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 |  |  | 52.48 |  |  |  |  |  | Thales SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 1298175.00 | 73307430.55 | 73351333.38 | 68128224.00 | 68128224.00 | -5223109.38 | -5223109.38 | 0.00 | False | 0.00 | N/A | 6.00 | 4.97 | 5.34 | 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 |  |  | 13.91 |  |  |  |  |  | Babcock Internationa | l Group PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 679063.00 | 8382433.69 | 8382436.13 | 9445766.33 | 9445766.33 | 1063330.20 | 1063330.20 | 0.00 | False | 0.00 | N/A | 0.83 | 0.69 | 0.74 | 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 |  |  | 7.40 |  |  |  |  |  | Chemring Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 745105.00 | 4900487.53 | 4903604.33 | 5513777.00 | 5513777.00 | 610172.67 | 610172.67 | 0.00 | False | 0.00 | N/A | 0.49 | 0.40 | 0.43 | 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 |  |  | 51.88 |  |  |  |  |  | Hensoldt AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 377954.00 | 17878079.46 | 17888525.51 | 19608253.52 | 19608253.52 | 1719728.01 | 1719728.01 | 0.00 | False | 0.00 | N/A | 1.73 | 1.43 | 1.54 | 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 | 8/30/2025 |  |  | 100.00 |  |  |  |  |  | UMB MONEY MARKET | SPECIAL II |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2061122.29 | L<br> N |  |  | 8/29/2025<br> C |  | 447;USD | USD | 48497143.42 | 48497143.42 | 48497143.42 | 48497143.42 | 48497143.42 | 0.00 | 0.00 | 4.85 | False | 4.83 |  | 4.27 | 3.54 | 3.80 | 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:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $1370353058.13

**Total Liabilities:** $94681760.84

**Net Assets:** $1275671297.29

**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 | 6.46%                | -3.35%               | 0.99%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $52680110.08             | $7691994.07                                |
| Month 2  | $2041427.70              | $-40247215.30                              |
| Month 3  | $13993334.10             | $-4015054.58                               |

### 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        |   1295060 | NS      | $122046454.40 | 9.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock Internationa | COMMSTCK | CUSIP: 056155104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    679063 | NS      | $9445766.33   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemring Group PLC   | COMMSTCK | CUSIP: 163867104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    745105 | NS      | $5513777.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE            | COMMSTCK | CUSIP: 009279100<br>LEI: N/A | Long             | EC               | CORP              | FR        |   4474680 | NS      | $233354562.00 | 18.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA         | COMMSTCK | CUSIP: 52660W101<br>LEI: N/A | Long             | EC               | CORP              | IT        |   1860863 | NS      | $52587988.38  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG          | COMMSTCK | CUSIP: 42701C107<br>LEI: N/A | Long             | EC               | CORP              | DE        |    377954 | NS      | $19608253.52  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG  | COMMSTCK | CUSIP: 62473G102<br>LEI: N/A | Long             | EC               | CORP              | DE        |    196178 | NS      | $43755541.12  | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group PLC    | COMMSTCK | CUSIP: 74732F106<br>LEI: N/A | Long             | EC               | CORP              | GB        |    296545 | NS      | $7926647.85   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG       | COMMSTCK | CUSIP: 76206K107<br>LEI: N/A | Long             | EC               | CORP              | DE        |    442255 | NS      | $169653440.55 | 13.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings | COMMSTCK | CUSIP: 775781206<br>LEI: N/A | Long             | EC               | CORP              | GB        |   8987614 | NS      | $129871022.30 | 10.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB              | COMMSTCK | CUSIP: 78516J101<br>LEI: N/A | Long             | EC               | CORP              | SE        |   1962292 | NS      | $55513240.68  | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA            | COMMSTCK | CUSIP: 786584102<br>LEI: N/A | Long             | EC               | CORP              | FR        |   2060265 | NS      | $170486928.75 | 13.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA            | COMMSTCK | CUSIP: 883219206<br>LEI: N/A | Long             | EC               | CORP              | FR        |   1298175 | NS      | $68128224.00  | 5.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET     | MONEYMKT | CUSIP: SF8888628<br>LEI: N/A | Long             | STIV             |  | US        |  48497143 | NS      | $48497143.42  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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