SPINNAKER ETF SERIES

Ticker: QIDX CUSIP: 84858T756 Class: INDEXPERTS QUALI

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

Increased Positions (1)

GTS SECURITIES LLC
Value ($000) $811 (+349.2%) Shares 75,598 (+359.3%)

Decreased Positions (1)

SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $317 (-11.3%) Shares 29,528 (-9.3%)