SPINNAKER ETF SERIES

Ticker: EUAD CUSIP: 84858T772 Class: ETF

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

InstitutionSharesValue ($000)
BANK OF MONTREAL /CAN/1,028,443$43,328
OVERSEA-CHINESE BANKING Corp Ltd470,791$19,695
CacheTech Inc.375,300$15,811
Adams Wealth Management358,587$15,107
ROYAL BANK OF CANADA324,138$13,656
PATTEN & PATTEN INC/TN252,540$10,640
PFG Advisors237,462$10,004
Quadrature Capital Ltd217,463$9,162
COMMONWEALTH EQUITY SERVICES, LLC167,457$7,055
CASTLEARK MANAGEMENT LLC147,000$6,193
Corient Private Wealth LLC137,939$5,812
LOOMIS SAYLES & CO L P117,200$4,938
Ethos Financial Group, LLC112,030$4,720
BAROMETER CAPITAL MANAGEMENT INC.103,000$2,089
NATIONAL BANK OF CANADA /FI/96,091$4,046
CIBC WORLD MARKET INC.91,690$3,863
Janney Montgomery Scott LLC89,711$4
SHARPEPOINT LLC89,600$3,775
Cetera Investment Advisers88,664$3,735
OPPENHEIMER & CO INC67,852$2,859
Savvy Advisors, Inc.65,168$2,746
David R. Rahn & Associates Inc.63,719$2,684
VIEWPOINT INVESTMENT PARTNERS CORP61,423$2,588
PRINCIPAL SECURITIES, INC.59,693$2,515
MARSHALL WACE, LLP56,329$2,373
Federation des caisses Desjardins du Quebec56,236$2,368
Steward Partners Investment Advisory, LLC49,621$2,091
Scarborough Advisors, LLC48,047$2,024
Cambridge Investment Research Advisors, Inc.46,820$2
NOMURA ASSET MANAGEMENT CO LTD44,050$1,856
TRUIST FINANCIAL CORP43,965$1,852
MYDA Advisors LLC40,000$1,685
Quantum Portfolio Management LLC38,300$1,614
JANE STREET GROUP, LLC37,646$1,586
RAYMOND JAMES FINANCIAL INC36,693$1,546
MORGAN STANLEY33,739$1,421
Bluesphere Advisors, LLC33,625$1,417
Bright Futures Wealth Management, LLC.33,087$1,394
JAMES INVESTMENT RESEARCH INC32,749$1,380
ENVESTNET ASSET MANAGEMENT INC32,104$1,353
Sanctuary Advisors, LLC31,884$1,343
CITIZENS FINANCIAL GROUP INC/RI26,308$1,109
CITADEL ADVISORS LLC25,090$1,057
Financial Sense Advisors, Inc.23,861$1,005
Index Technologies Group LLC23,357$984
Laurel Wealth Advisors LLC22,231$937
Town & Country Bank & Trust CO dba First Bankers Trust CO22,192$935
PARK AVENUE SECURITIES LLC21,686$1
Terra Nova Asset Management LLC20,782$876
Advisory Alpha, LLC19,750$832
UBS Group AG18,684$787
SCOTIA CAPITAL INC.18,128$763
Financial Security Advisor, Inc.16,980$715
NVWM, LLC15,737$663
Raab & Moskowitz Asset Management LLC15,090$636
PNC Financial Services Group, Inc.15,000$632
Per Stirling Capital Management, LLC.14,631$616
Creative Planning14,305$603
NEW WAVE WEALTH ADVISORS LLC14,277$601
HighTower Advisors, LLC12,416$523
Spinnaker Investment Group, LLC12,195$514
SUSQUEHANNA INTERNATIONAL GROUP, LLP11,995$505
AlTi Global, Inc.11,440$482
STIFEL FINANCIAL CORP11,417$481
CAPTRUST FINANCIAL ADVISORS11,069$466
Cerity Partners LLC10,700$451
Belpointe Asset Management LLC10,594$446
Cresset Asset Management, LLC10,260$432
Dynamic Advisor Solutions LLC10,227$431
Advisory Services Network, LLC10,150$428
NORTHERN TRUST CORP10,000$421
SIMPLEX TRADING, LLC9,667$407
GTS SECURITIES LLC9,519$401
FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC.9,350$394
Joseph P. Lucia & Associates, LLC9,307$392
Apollon Wealth Management, LLC9,110$384
IFP Advisors, Inc8,375$353
MMBG INVESTMENT ADVISORS CO.7,600$320
&PARTNERS7,250$305
JTC Employer Solutions Trustee Ltd7,053$0
Hilltop Holdings Inc.6,770$285
Merit Financial Group, LLC6,740$284
Prospera Financial Services Inc6,726$283
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC6,277$287
Werba Rubin Papier Wealth Management6,152$259
DEARBORN PARTNERS LLC6,150$259
SIMON QUICK ADVISORS, LLC6,011$253
GenTrust, LLC5,937$250
Spire Wealth Management5,875$248
PRIMORIS WEALTH ADVISORS, LLC5,725$241
J. Safra Sarasin Holding AG5,365$227
Vigil Wealth Management, LLC5,329$225
JOHNSON INVESTMENT COUNSEL INC5,150$217
MML INVESTORS SERVICES, LLC5,145$217
StoneX Group Inc.5,132$216
JT Stratford LLC5,050$213
TD Waterhouse Canada Inc.4,988$210
PRECEDENT WEALTH PARTNERS, LLC4,871$205
Kestra Advisory Services, LLC4,450$187
Kingdom Financial Group LLC.3,984$168
50 other institutions51,499$2,057
Total (150 institutions)6,238,965$253,410