# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-25-002427
**Filing Date:** 2025-7
**Character Count:** 15923
**Document Hash:** efe6c7869ff389677f08f328145d63ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002427.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0002000324-25-002427

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**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:** 251154698

**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

---

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| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | XTR_GROUP1 | XTR_GROUP2 | XTR_CATGRY | XTR_CATDSC | XTR_SECTOR | XTR_SECTR1 | XTR_SECTR2 | XTR_CONTRY | XTR_CONDSC | XTR_STATE | XTR_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | XTR_PRISRC | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 447 | SELECT STOXX EUROPE AEROSPACE | EADSY | Airbus SE |  |  | 009279100 | 1002 | Defense |  | COMMSTCK | COMMON STOCK |  |  |  | FRF | FRANCE |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 45.77 |  |  |  |  |  | Airbus SE |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 4238966.00 | 191671572.30 | 191671572.30 | 194017473.82 | 194017473.82 | 2345901.52 | 2345901.52 | 0.00 | False | 0.00 | N/A | 18.75 | 14.75 | 18.26 | 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 |  |  | 102.80 |  |  |  |  |  | BAE Systems PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1856844.63 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 1319719.00 | 119886404.11 | 119886404.11 | 135667113.20 | 135667113.20 | 15780709.09 | 15780709.09 | 1.37 | False | 0.00 | N/A | 13.11 | 10.31 | 12.77 | 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 |  |  | 30.94 |  |  |  |  |  | Leonardo SpA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 1542641.00 | 40819469.59 | 40819469.59 | 47729312.54 | 47729312.54 | 6909842.95 | 6909842.95 | 0.00 | False | 0.00 | N/A | 4.61 | 3.63 | 4.49 | 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 |  |  | 200.52 |  |  |  |  |  | MTU Aero Engines AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 134034.00 | 24825977.20 | 24825977.20 | 26876497.68 | 26876497.68 | 2050520.48 | 2050520.48 | 0.00 | False | 0.00 | N/A | 2.60 | 2.04 | 2.53 | 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 |  |  | 27.55 |  |  |  |  |  | QinetiQ Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 202358.00 | 4959842.74 | 4959842.74 | 5574962.90 | 5574962.90 | 615120.16 | 615120.16 | 0.00 | False | 0.00 | N/A | 0.54 | 0.42 | 0.52 | 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 |  |  | 426.09 |  |  |  |  |  | Rheinmetall AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 452021.00 | 147794721.12 | 147794721.12 | 192601627.89 | 192601627.89 | 44806906.77 | 44806906.77 | 0.00 | False | 0.00 | N/A | 18.61 | 14.64 | 18.12 | 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 |  |  | 11.61 |  |  |  |  |  | Rolls-Royce Holdings | PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 11158491.00 | 118412263.14 | 118412263.14 | 129550080.51 | 129550080.51 | 11137817.37 | 11137817.37 | 0.00 | False | 0.00 | N/A | 12.52 | 9.85 | 12.19 | 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 |  |  | 25.27 |  |  |  |  |  | Saab AB |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 1335026.00 | 28292114.24 | 28292114.24 | 33736107.02 | 33736107.02 | 5443992.78 | 5443992.78 | 0.00 | False | 0.00 | N/A | 3.26 | 2.56 | 3.17 | 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 |  |  | 73.54 |  |  |  |  |  | Safran SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 2533393.00 | 175871351.76 | 175871351.76 | 186305721.22 | 186305721.22 | 10434369.46 | 10434369.46 | 0.00 | False | 0.00 | N/A | 18.00 | 14.16 | 17.53 | 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 |  |  | 60.94 |  |  |  |  |  | Thales SA |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 977617.00 | 53615269.92 | 53615269.92 | 59575979.98 | 59575979.98 | 5960710.06 | 5960710.06 | 0.00 | False | 0.00 | N/A | 5.76 | 4.53 | 5.61 | 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 |  |  | 13.19 |  |  |  |  |  | Babcock Internationa | l Group PLC |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 462530.00 | 4991096.77 | 4991096.77 | 6100770.70 | 6100770.70 | 1109673.93 | 1109673.93 | 0.00 | False | 0.00 | N/A | 0.59 | 0.46 | 0.57 | 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 |  |  | 6.98 |  |  |  |  |  | Chemring Group PLC |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 507210.00 | 2971422.58 | 2971422.58 | 3540325.80 | 3540325.80 | 568903.22 | 568903.22 | 0.00 | False | 0.00 | N/A | 0.34 | 0.27 | 0.33 | 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 |  |  | 53.19 |  |  |  |  |  | Hensoldt AG |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 0.00 | L<br> N |  |  | 5/30/2025<br> C |  | 447;USD | USD | 257550.00 | 10715996.63 | 10715996.63 | 13699084.50 | 13699084.50 | 2983087.87 | 2983087.87 | 0.00 | False | 0.00 | N/A | 1.32 | 1.04 | 1.29 | 0.00 |  | 894500686FYLLZD3M624 | HAGHY<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:** 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:** 2025-05-31

**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:** $1315336296.21

**Total Liabilities:** $252667436.93

**Net Assets:** $1062668859.28

**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 | 9.05%                | 6.42%                | 13.34%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.51                    | $-5969279.06                               |
| Month 2  | $1201819.11              | $29610694.49                               |
| Month 3  | $0.00                    | $83519880.74                               |

### 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        |   1319719 | NS      | $135667113.20 | 12.77%            |  |  |  | No            |                  1 | On Loan: No      |
| Babcock Internationa | COMMSTCK | CUSIP: 056155104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    462530 | NS      | $6100770.70   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemring Group PLC   | COMMSTCK | CUSIP: 163867104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    507210 | NS      | $3540325.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE            | COMMSTCK | CUSIP: 009279100<br>LEI: N/A | Long             | EC               | CORP              | FR        |   4238966 | NS      | $194017473.82 | 18.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA         | COMMSTCK | CUSIP: 52660W101<br>LEI: N/A | Long             | EC               | CORP              | IT        |   1542641 | NS      | $47729312.54  | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG          | COMMSTCK | CUSIP: 42701C107<br>LEI: N/A | Long             | EC               | CORP              | DE        |    257550 | NS      | $13699084.50  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG  | COMMSTCK | CUSIP: 62473G102<br>LEI: N/A | Long             | EC               | CORP              | DE        |    134034 | NS      | $26876497.68  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group PLC    | COMMSTCK | CUSIP: 74732F106<br>LEI: N/A | Long             | EC               | CORP              | GB        |    202358 | NS      | $5574962.90   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG       | COMMSTCK | CUSIP: 76206K107<br>LEI: N/A | Long             | EC               | CORP              | DE        |    452021 | NS      | $192601627.89 | 18.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings | COMMSTCK | CUSIP: 775781206<br>LEI: N/A | Long             | EC               | CORP              | GB        |  11158491 | NS      | $129550080.51 | 12.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB              | COMMSTCK | CUSIP: 78516J101<br>LEI: N/A | Long             | EC               | CORP              | SE        |   1335026 | NS      | $33736107.02  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA            | COMMSTCK | CUSIP: 786584102<br>LEI: N/A | Long             | EC               | CORP              | FR        |   2533393 | NS      | $186305721.22 | 17.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA            | COMMSTCK | CUSIP: 883219206<br>LEI: N/A | Long             | EC               | CORP              | FR        |    977617 | NS      | $59575979.98  | 5.61%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-21

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

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