# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-25-004757
**Filing Date:** 2025-12
**Character Count:** 34096
**Document Hash:** ca8b88863f86da0e898c560df3516ac5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004757.hdr.sgml**: 20251222

**ACCESSION NUMBER**: 0002000324-25-004757

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251222

**DATE AS OF CHANGE**: 20251222

**PERIOD START**: 20260430

**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:** 251593278

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

---

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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_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | XTR_PRISRC | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 454 | GENTER CAPITAL INTERNATIONAL | BAESY | BAE Systems PLC |  |  | 05523R107 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 98.91 |  |  |  |  |  | BAE Systems PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 862.49 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 613.00 | 52348.21 | 52348.21 | 60631.83 | 60631.83 | 8283.62 | 8283.62 | 1.42 | False | 0.00 | N/A | 3.04 | 3.04 | 3.04 | 0.00 |  |  | BAESY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BTI | British American Tob | acco PLC |  | 110448107 | 1006 | Agriculture |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 51.19 |  |  |  |  |  | British American Tob | acco PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1169.00 | 53835.81 | 53835.81 | 59841.11 | 59841.11 | 6005.30 | 6005.30 | 0.00 | False | 0.00 | N/A | 3.00 | 3.00 | 3.00 | 0.00 |  |  | BTI<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | IMBBY | Imperial Brands PLC |  |  | 45262P102 | 1006 | Agriculture |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 39.73 |  |  |  |  |  | Imperial Brands PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1201.00 | 44365.69 | 44365.69 | 47715.73 | 47715.73 | 3350.04 | 3350.04 | 0.00 | False | 0.00 | N/A | 2.39 | 2.39 | 2.39 | 0.00 |  | 549300DFVPOB67JL3A42 | IMBBY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | HMC | Honda Motor Co Ltd |  |  | 438128308 | 1012 | Auto Manufacturers |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 30.50 |  |  |  |  |  | Honda Motor Co Ltd |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1420.86 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1393.00 | 41342.31 | 41342.31 | 42486.50 | 42486.50 | 1144.19 | 1144.19 | 3.34 | False | 0.00 | N/A | 2.13 | 2.13 | 2.13 | 0.00 |  | 549300P7ZYCQJ36CCS16 | HMC<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | MBGYY | MERCEDES-BENZ GROUP | AG |  | 233825207 | 1012 | Auto Manufacturers |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 16.17 |  |  |  |  |  | Daimler AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 2385.00 | 35084.79 | 35084.79 | 38565.45 | 38565.45 | 3480.66 | 3480.66 | 0.00 | False | 0.00 | N/A | 1.93 | 1.93 | 1.93 | 0.00 |  |  | MBGYY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BBVA | Banco Bilbao Vizcaya | Argentaria SA |  | 05946K101 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | ESP | SPAIN |  | USD | US DOLLAR | 1/0/1900 |  |  | 20.13 |  |  |  |  |  | Banco Bilbao Vizcaya | Argentaria SA |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2001.01 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 3939.00 | 59388.79 | 59388.79 | 79292.07 | 79292.07 | 19903.28 | 19903.28 | 2.52 | False | 0.00 | N/A | 3.97 | 3.97 | 3.97 | 0.00 |  | K8MS7FD7N5Z2WQ51AZ71 | BBVA<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BCS | Barclays PLC |  |  | 06738E204 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 21.49 |  |  |  |  |  | Barclays PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1762.13 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 4625.00 | 79087.66 | 79087.66 | 99391.25 | 99391.25 | 20303.59 | 20303.59 | 1.77 | False | 0.00 | N/A | 4.98 | 4.98 | 4.98 | 0.00 |  |  | BCS<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BNPQY | BNP Paribas SA |  |  | 05565A202 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 38.51 |  |  |  |  |  | BNP Paribas SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1457.00 | 58433.14 | 58433.14 | 56109.07 | 56109.07 | -2324.07 | -2324.07 | 0.00 | False | 0.00 | N/A | 2.81 | 2.81 | 2.81 | 0.00 |  | R0MUWSFPU8MPRO8K5P83 | BNPQY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | MUFG | Mitsubishi UFJ Finan | cial Group Inc |  | 606822104 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 15.13 |  |  |  |  |  | Mitsubishi UFJ Finan | cial Group Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1516.25 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 6065.00 | 80298.58 | 80358.10 | 91763.45 | 91763.45 | 11405.35 | 11405.35 | 1.65 | False | 0.00 | N/A | 4.60 | 4.60 | 4.60 | 0.00 |  | 353800V2V8PUY9TK3E06 | MUFG<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | SMFG | Sumitomo Mitsui Fina | ncial Group Inc |  | 86562M209 | 1015 | Banks |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 16.28 |  |  |  |  |  | Sumitomo Mitsui Fina | ncial Group Inc |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1857.72 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 5233.00 | 78328.22 | 78328.22 | 85193.24 | 85193.24 | 6865.02 | 6865.02 | 2.18 | False | 0.00 | N/A | 4.27 | 4.27 | 4.27 | 0.00 |  | 35380028MYWPB6AUO129 | SMFG<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | CABGY | Carlsberg AS |  |  | 142795202 | 1016 | Beverages |  | COMMSTCK | COMMON STOCK |  |  |  | DKK | DENMARK |  | USD | US DOLLAR | 1/0/1900 |  |  | 23.60 |  |  |  |  |  | Carlsberg AS |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 2325.00 | 64283.85 | 64283.85 | 54870.00 | 54870.00 | -9413.85 | -9413.85 | 0.00 | False | 0.00 | N/A | 2.75 | 2.75 | 2.75 | 0.00 |  | 5299001O0WJQYB5GYZ19 | CABGY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | AKZOY | Akzo Nobel NV |  |  | 010199503 | 1021 | Specialty Chemicals |  | COMMSTCK | COMMON STOCK |  |  |  | NLG | NETHERLANDS |  | USD | US DOLLAR | 1/0/1900 |  |  | 22.24 |  |  |  |  |  | Akzo Nobel NV |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1590.00 | 36052.19 | 36052.19 | 35361.60 | 35361.60 | -690.59 | -690.59 | 0.00 | False | 0.00 | N/A | 1.77 | 1.77 | 1.77 | 0.00 |  | 724500XYIJUGXAA5QD70 | AKZOY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | DSFIY | DSM-Firmenich AG |  |  | 23346J103 | 1021 | Specialty Chemicals |  | COMMSTCK | COMMON STOCK |  |  |  | CHF | SWITZERLAND |  | USD | US DOLLAR | 1/0/1900 |  |  | 8.16 |  |  |  |  |  | DSM-Firmenich AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 2660.00 | 27857.14 | 27857.14 | 21705.60 | 21705.60 | -6151.54 | -6151.54 | 0.00 | False | 0.00 | N/A | 1.09 | 1.09 | 1.09 | 0.00 |  | 506700G44V67MPM4BI12 | DSFIY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | NMR | Nomura Holdings Inc |  |  | 65535H208 | 1033 | Diversified Finan Se | rv | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 7.12 |  |  |  |  |  | Nomura Holdings Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1073.66 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 7669.00 | 49905.63 | 49905.63 | 54603.28 | 54603.28 | 4697.65 | 4697.65 | 1.97 | False | 0.00 | N/A | 2.74 | 2.74 | 2.74 | 0.00 |  | 549300B3CEAHYG7K8164 | NMR<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | IX | ORIX Corp |  |  | 686330101 | 1033 | Diversified Finan Se | rv | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 24.49 |  |  |  |  |  | ORIX Corp |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5068.48 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1685.00 | 37500.81 | 37500.81 | 41265.65 | 41265.65 | 3764.84 | 3764.84 | 12.28 | False | 0.00 | N/A | 2.07 | 2.07 | 2.07 | 0.00 |  | 35380016EMHNBOVYE123 | IX<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ENLAY | Enel SpA |  |  | 29265W207 | 1034 | Electric |  | COMMSTCK | COMMON STOCK |  |  |  | ITL | ITALY |  | USD | US DOLLAR | 1/0/1900 |  |  | 10.07 |  |  |  |  |  | Enel SpA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 7349.00 | 62993.02 | 62993.02 | 74004.43 | 74004.43 | 11011.41 | 11011.41 | 0.00 | False | 0.00 | N/A | 3.71 | 3.71 | 3.71 | 0.00 |  | WOCMU6HCI0OJWNPRZS33 | ENLAY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | SBGSY | Schneider Electric S | E |  | 80687P106 | 1035 | Electrical Compo&Equ | ip | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 56.70 |  |  |  |  |  | Schneider Electric S | E |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 452.73 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 659.00 | 34417.65 | 34417.65 | 37365.30 | 37365.30 | 2947.65 | 2947.65 | 1.21 | False | 0.00 | N/A | 1.87 | 1.87 | 1.87 | 0.00 |  | 969500A1YF1XUYYXS284 | SBGSY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | CKHUY | CK Hutchison Holding | s Ltd |  | 12562Y100 | 1047 | Food & Drug Stores |  | COMMSTCK | COMMON STOCK |  |  |  | HKD | HONG KONG |  | USD | US DOLLAR | 1/0/1900 |  |  | 6.60 |  |  |  |  |  | CK Hutchison Holding | s Ltd |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 5665.00 | 33264.33 | 33360.99 | 37389.00 | 37389.00 | 4028.01 | 4028.01 | 0.00 | False | 0.00 | N/A | 1.87 | 1.87 | 1.87 | 0.00 |  | 254900Z8HM1VEPOQ2G79 | CKHUY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ADRNY | Koninklijke Ahold De | lhaize NV |  | 500467501 | 1047 | Food & Drug Stores |  | COMMSTCK | COMMON STOCK |  |  |  | NLG | NETHERLANDS |  | USD | US DOLLAR | 1/0/1900 |  |  | 40.88 |  |  |  |  |  | Koninklijke Ahold De | lhaize NV |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1489.00 | 58281.45 | 58281.45 | 60870.32 | 60870.32 | 2588.87 | 2588.87 | 0.00 | False | 0.00 | N/A | 3.05 | 3.05 | 3.05 | 0.00 |  | 724500C9GNBV20UYRX36 | ADRNY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | NGG | National Grid PLC |  |  | 636274409 | 1052 | UNKNOWN - AUTOLOADED |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 75.25 |  |  |  |  |  | National Grid PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2492.88 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 705.00 | 47365.75 | 47365.75 | 53051.25 | 53051.25 | 5685.50 | 5685.50 | 4.70 | False | 0.00 | N/A | 2.66 | 2.66 | 2.66 | 0.00 |  |  | NGG<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ALIZY | Allianz SE |  |  | 018820100 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | DEM | GERMANY |  | USD | US DOLLAR | 1/0/1900 |  |  | 40.18 |  |  |  |  |  | Allianz SE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1585.00 | 59859.19 | 59859.19 | 63685.30 | 63685.30 | 3826.11 | 3826.11 | 0.00 | False | 0.00 | N/A | 3.19 | 3.19 | 3.19 | 0.00 |  | 529900K9B0N5BT694847 | ALIZY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | AXAHY | AXA SA |  |  | 054536107 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 43.40 |  |  |  |  |  | AXA SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2413.72 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1297.00 | 57172.69 | 57172.69 | 56289.80 | 56289.80 | -882.89 | -882.89 | 4.29 | False | 0.00 | N/A | 2.82 | 2.82 | 2.82 | 0.00 |  |  | AXAHY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | MFC | Manulife Financial C | orp |  | 56501R106 | 1062 | Insurance |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  | USD | US DOLLAR | 1/0/1900 |  |  | 32.37 |  |  |  |  |  | Manulife Financial C | orp |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2103.86 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1441.00 | 43864.90 | 43864.90 | 46645.17 | 46645.17 | 2780.27 | 2780.27 | 4.51 | False | 0.00 | N/A | 2.34 | 2.34 | 2.34 | 0.00 |  | 5493007GBX87QOZACS27 | MFC<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | KMTUY | Komatsu Ltd |  |  | 500458401 | 1070 | Machinery-Constr&Min |  | COMMSTCK | COMMON STOCK |  |  |  | JPY | JAPAN |  | USD | US DOLLAR | 1/0/1900 |  |  | 33.46 |  |  |  |  |  | Komatsu Ltd |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1025.00 | 31758.99 | 31758.99 | 34296.50 | 34296.50 | 2537.51 | 2537.51 | 0.00 | False | 0.00 | N/A | 1.72 | 1.72 | 1.72 | 0.00 |  | 5493004LQ0B4T7QPQV17 | KMTUY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | RIO | Rio Tinto PLC |  |  | 767204100 | 1075 | Mining |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 71.74 |  |  |  |  |  | Rio Tinto PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2576.82 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 641.00 | 38745.86 | 38745.86 | 45985.34 | 45985.34 | 7239.48 | 7239.48 | 5.60 | False | 0.00 | N/A | 2.30 | 2.30 | 2.30 | 0.00 |  |  | RIO<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | AZN | AstraZeneca PLC |  |  | 046353108 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 82.40 |  |  |  |  |  | AstraZeneca PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1161.45 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 801.00 | 56899.22 | 56899.22 | 66002.40 | 66002.40 | 9103.18 | 9103.18 | 1.76 | False | 0.00 | N/A | 3.31 | 3.31 | 3.31 | 0.00 |  |  | AZN | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | NVS | Novartis AG |  |  | 66987V109 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | CHF | SWITZERLAND |  | USD | US DOLLAR | 1/0/1900 |  |  | 123.79 |  |  |  |  |  | Novartis AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1571.05 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 449.00 | 50893.59 | 50893.59 | 55581.71 | 55581.71 | 4688.12 | 4688.12 | 2.83 | False | 0.00 | N/A | 2.79 | 2.78 | 2.79 | 0.00 |  |  | NVS<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | SNY | Sanofi |  |  | 80105N105 | 1088 | Private Equity |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 50.58 |  |  |  |  |  | Sanofi |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1521.90 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 801.00 | 39723.48 | 39723.48 | 40514.58 | 40514.58 | 791.10 | 791.10 | 3.76 | False | 0.00 | N/A | 2.03 | 2.03 | 2.03 | 0.00 |  |  | SNY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ENB | Enbridge Inc |  |  | 29250N105 | 1089 | Pipelines |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  | USD | US DOLLAR | 1/0/1900 |  |  | 46.62 |  |  |  |  |  | Enbridge Inc |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5229.15 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1473.00 | 66063.53 | 66063.53 | 68671.26 | 68671.26 | 2607.73 | 2607.73 | 7.61 | False | 0.00 | N/A | 3.44 | 3.44 | 3.44 | 0.00 |  |  | ENB<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | PBA | Pembina Pipeline Cor | p |  | 706327103 | 1089 | Pipelines |  | COMMSTCK | COMMON STOCK |  |  |  | CAD | CANADA |  | USD | US DOLLAR | 1/0/1900 |  |  | 37.83 |  |  |  |  |  | Pembina Pipeline Cor | p |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3273.62 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1233.00 | 45759.07 | 45759.07 | 46644.39 | 46644.39 | 885.32 | 885.32 | 7.02 | False | 0.00 | N/A | 2.34 | 2.34 | 2.34 | 0.00 |  |  | PBA<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ORANY | Orange SA |  |  | 684060106 | 1104 | Telecommunications |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  | USD | US DOLLAR | 1/0/1900 |  |  | 16.35 |  |  |  |  |  | Orange SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3112.90 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 4145.00 | 57142.98 | 57142.98 | 67770.75 | 67770.75 | 10627.77 | 10627.77 | 4.59 | False | 0.00 | N/A | 3.40 | 3.39 | 3.40 | 0.00 |  | 969500MCOONR8990S771 | ORANY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ERIC | Telefonaktiebolaget | LM Ericsson |  | 294821608 | 1104 | Telecommunications |  | COMMSTCK | COMMON STOCK |  |  |  | SEK | SWEDEN |  | USD | US DOLLAR | 1/0/1900 |  |  | 10.09 |  |  |  |  |  | Telefonaktiebolaget | LM Ericsson |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1817.81 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 7185.00 | 59507.48 | 59585.30 | 72496.65 | 72496.65 | 12911.35 | 12911.35 | 2.51 | False | 0.00 | N/A | 3.63 | 3.63 | 3.63 | 0.00 |  |  | ERIC<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | VOD | Vodafone Group PLC |  |  | 92857W308 | 1104 | Telecommunications |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 12.05 |  |  |  |  |  | Vodafone Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5055.28 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 5169.00 | 52380.03 | 52380.03 | 62286.45 | 62286.45 | 9906.42 | 9906.42 | 8.12 | False | 0.00 | N/A | 3.12 | 3.12 | 3.12 | 0.00 |  |  | VOD<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | BP | BP PLC |  |  | 055622104 | A60A | Oil&Gas |  | COMMSTCK | COMMON STOCK |  |  |  | UKS | UNITED KINGDOM |  | USD | US DOLLAR | 1/0/1900 |  |  | 35.13 |  |  |  |  |  | BP PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2294.08 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1377.00 | 44025.91 | 44025.91 | 48374.01 | 48374.01 | 4348.10 | 4348.10 | 4.74 | False | 0.00 | N/A | 2.42 | 2.42 | 2.42 | 0.00 |  |  | BP<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | ABBNY | ABB Limited |  |  | 000375204 | C50C | Industrial Component |  | COMMSTCK | COMMON STOCK |  |  |  | USA | UNITED STATES |  | USD | US DOLLAR | 1/0/1900 |  |  | 74.16 |  |  |  |  |  | ABB Limited |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1015.50 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 1105.00 | 65480.66 | 65480.66 | 81946.80 | 81946.80 | 16466.14 | 16466.14 | 1.24 | False | 0.00 | N/A | 4.11 | 4.10 | 4.11 | 0.00 |  |  | ABBNY<br> N | MP |
| 454 | GENTER CAPITAL INTERNATIONAL | FGTXX | Goldman Sachs Financ | ial Square Funds - G |  | 38141W273 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES<br> IL | ILLINOIS | USD | US DOLLAR | 11/1/2025 |  |  | 100.00 |  |  |  |  |  | Goldman Sachs Financ | ial Square Funds - G |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 257.11 | L<br> N |  |  | 10/31/2025<br> C |  | 454;USD | USD | 6404.49 | 6404.49 | 6404.49 | 6404.49 | 6404.49 | 0.00 | 0.00 | 4.01 | False | 4.00 |  | 0.32 | 0.32 | 0.32 | 0.00 |  |  | FGTXX<br> N | AC |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** ROCKY MOUNT

  - **State:** NC

  - **Foreign country:** US

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

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-10-31

**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:** $1996351.27

**Total Liabilities:** $614.15

**Net Assets:** $1995737.12

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256068 | 5.10%                | 1.97%                | -0.55%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $79701.87                                  |
| Month 2  | $0.00                    | $34000.53                                  |
| Month 3  | $0.00                    | $-11185.51                                 |

### Schedule of Portfolio Investments

| Name                 | Title    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABB Limited          | COMMSTCK | CUSIP: 000375204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1105 | NS      | $81946.80     | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold De | COMMSTCK | CUSIP: 500467501<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |      1489 | NS      | $60870.32     | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Akzo Nobel NV        | COMMSTCK | CUSIP: 010199503<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |      1590 | NS      | $35361.60     | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE           | COMMSTCK | CUSIP: 018820100<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |      1585 | NS      | $63685.30     | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA               | COMMSTCK | CUSIP: 054536107<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |      1297 | NS      | $56289.80     | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC      | COMMSTCK | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       801 | NS      | $66002.40     | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC      | COMMSTCK | CUSIP: 05523R107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       613 | NS      | $60631.83     | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya | COMMSTCK | CUSIP: 05946K101<br>LEI: N/A                  | Long             | EC               | CORP              | ES        |      3939 | NS      | $79292.07     | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC         | COMMSTCK | CUSIP: 06738E204<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      4625 | NS      | $99391.25     | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA       | COMMSTCK | CUSIP: 05565A202<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |      1457 | NS      | $56109.07     | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC               | COMMSTCK | CUSIP: 055622104<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      1377 | NS      | $48374.01     | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tob | COMMSTCK | CUSIP: 110448107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      1169 | NS      | $59841.11     | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlsberg AS         | COMMSTCK | CUSIP: 142795202<br>LEI: N/A                  | Long             | EC               | CORP              | DK        |      2325 | NS      | $54870.00     | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Hutchison Holding | COMMSTCK | CUSIP: 12562Y100<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |      5665 | NS      | $37389.00     | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| DSM-Firmenich AG     | COMMSTCK | CUSIP: 23346J103<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |      2660 | NS      | $21705.60     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc         | COMMSTCK | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |      1473 | NS      | $68671.26     | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA             | COMMSTCK | CUSIP: 29265W207<br>LEI: N/A                  | Long             | EC               | CORP              | IT        |      7349 | NS      | $74004.43     | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget  | COMMSTCK | CUSIP: 294821608<br>LEI: N/A                  | Long             | EC               | CORP              | SE        |      7185 | NS      | $72496.65     | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd   | COMMSTCK | CUSIP: 438128308<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1393 | NS      | $42486.50     | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC  | COMMSTCK | CUSIP: 45262P102<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      1201 | NS      | $47715.73     | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX Corp            | COMMSTCK | CUSIP: 686330101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1685 | NS      | $41265.65     | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd          | COMMSTCK | CUSIP: 500458401<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1025 | NS      | $34296.50     | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCEDES-BENZ GROUP  | COMMSTCK | CUSIP: 233825207<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |      2385 | NS      | $38565.45     | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial C | COMMSTCK | CUSIP: 56501R106<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1441 | NS      | $46645.17     | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Finan | COMMSTCK | CUSIP: 606822104<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      6065 | NS      | $91763.45     | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC    | COMMSTCK | CUSIP: 636274409<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       705 | NS      | $53051.25     | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Holdings Inc  | COMMSTCK | CUSIP: 65535H208<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      7669 | NS      | $54603.28     | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG          | COMMSTCK | CUSIP: 66987V109<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |       449 | NS      | $55581.71     | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA            | COMMSTCK | CUSIP: 684060106<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |      4145 | NS      | $67770.75     | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Cor | COMMSTCK | CUSIP: 706327103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1233 | NS      | $46644.39     | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC        | COMMSTCK | CUSIP: 767204100<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       641 | NS      | $45985.34     | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric S | COMMSTCK | CUSIP: 80687P106<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       659 | NS      | $37365.30     | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Fina | COMMSTCK | CUSIP: 86562M209<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5233 | NS      | $85193.24     | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi               | COMMSTCK | CUSIP: 80105N105<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       801 | NS      | $40514.58     | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC   | COMMSTCK | CUSIP: 92857W308<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      5169 | NS      | $62286.45     | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financ | MONEYMKT | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             |  | US        |      6404 | NS      | $6404.49      | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-11

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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