SPINNAKER TRUST

Filed: 11/5/2025ACC: 0001158970-25-000008

📋 What this filing means

SPINNAKER TRUST filed this quarterly 13F‑HR report disclosing 292 equity positions with a total reported market value of $1.80B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

292

Positions

$1.80B

Total AUM (reported)

19.20M

Total Shares

Allocation by class

EQUITIES$1.80B100.0%

Portfolio Concentration

Top 3$377.05M20.9%

4–10$404.96M22.5%

11–25$340.28M18.9%

Rest$680.01M37.7%

Top 3 weight

20.9%

Top 10 weight

43.4%

Voting Authority Distribution

Total shares with voting rights: 19.20M

Sole

Full voting authority

17.72M

% of voting shares92.3%

Shared

Joint voting authority

167.86K

% of voting shares0.9%

None

No voting authority

1.31M

% of voting shares6.8%

Investment Discretion (by position count)

Sole251

Shared0

Other41

Dominant voting typeSole · 92.3% of voting shares

Institutional Holdings292

Rows:

State Street SPDR Portfolio S&P

SOLE

Equities

Shares2.13M

TypeSH

Market value$166.48M

9.24%

Sole

1.99M

Shared

5.96K

None

133.15K

Technology Select Sector SPDR

SOLE

Equities

Shares400.87K

TypeSH

Market value$112.99M

6.27%

Sole

391.06K

Shared

995.00

None

8.82K

iShares ESG MSCI EAFE ETF

SOLE

Equities

Shares1.05M

TypeSH

Market value$97.58M

5.41%

Sole

Shared

1.68K

None

44.65K

iShares MSCI USA ESG Select ETF

SOLE

Equities

Shares589.02K

TypeSH

Market value$79.90M

4.43%

Sole

583.68K

Shared

0.00

None

5.34K

iShares Core 1-5 Year USD Bond

DFND

Equities

Shares1.35M

TypeSH

Market value$65.73M

3.65%

Sole

1.27M

Shared

2.12K

None

69.24K

3M Company

SOLE

Equities

Shares406.30K

TypeSH

Market value$63.05M

3.50%

Sole

406.25K

Shared

0.00

None

45.00

Microsoft Corp

DFND

Equities

Shares115.69K

TypeSH

Market value$59.92M

3.32%

Sole

84.18K

Shared

25.41K

None

6.11K

Apple Inc

DFND

Equities

Shares211.08K

TypeSH

Market value$53.75M

2.98%

Sole

194.86K

Shared

5.73K

None

10.49K

Berkshire Hathaway Inc - CL B

DFND

Equities

Shares99.12K

TypeSH

Market value$49.83M

2.76%

Sole

95.86K

Shared

2.09K

None

1.16K

BlackRock US Equity Factor Rota

SOLE

Equities

Shares553.72K

TypeSH

Market value$32.78M

1.82%

Sole

512.90K

Shared

2.21K

None

38.62K

iShares Gold Trust

SOLE

Equities

Shares448.52K

TypeSH

Market value$32.64M

1.81%

Sole

419.70K

Shared

563.00

None

28.25K

Financial Select Sector SPDR

SOLE

Equities

Shares505.18K

TypeSH

Market value$27.21M

1.51%

Sole

485.11K

Shared

585.00

None

19.48K

Healthcare Select Sector SPDR

SOLE

Equities

Shares183.91K

TypeSH

Market value$25.59M

1.42%

Sole

179.86K

Shared

0.00

None

4.05K

Alphabet Inc CL C

DFND

Equities

Shares101.49K

TypeSH

Market value$24.72M

1.37%

Sole

91.42K

Shared

5.79K

None

4.28K

SPDR S&P 500 ETF Trust

SOLE

Equities

Shares36.66K

TypeSH

Market value$24.42M

1.35%

Sole

35.49K

Shared

75.00

None

1.09K

Consumer Discretionary Select S

SOLE

Equities

Shares101.75K

TypeSH

Market value$24.38M

1.35%

Sole

99.37K

Shared

0.00

None

2.38K

Invesco QQQ Trust

SOLE

Equities

Shares40.48K

TypeSH

Market value$24.30M

1.35%

Sole

36.97K

Shared

163.00

None

3.35K

SPDR Portfolio S&P 600 Small Ca

SOLE

Equities

Shares519.86K

TypeSH

Market value$24.08M

1.34%

Sole

493.80K

Shared

733.00

None

25.32K

SPDR S&P 500 Fossil Fuel Reserv

SOLE

Equities

Shares424.17K

TypeSH

Market value$23.27M

1.29%

Sole

393.62K

Shared

0.00

None

30.55K

Ares Capital Corporation

SOLE

Equities

Shares1.03M

TypeSH

Market value$21.12M

1.17%

Sole

923.96K

Shared

2.03K

None

108.91K

JPMorgan Chase & Co

DFND

Equities

Shares62.27K

TypeSH

Market value$19.64M

1.09%

Sole

54.93K

Shared

4.24K

None

3.11K

Broadcom Inc.

SOLE

Equities

Shares53.88K

TypeSH

Market value$17.77M

0.99%

Sole

45.85K

Shared

5.60K

None

2.43K

Home Depot Inc

DFND

Equities

Shares43.65K

TypeSH

Market value$17.69M

0.98%

Sole

39.32K

Shared

2.15K

None

2.19K

SPDR Portfolio Long Term Treasu

DFND

Equities

Shares644.43K

TypeSH

Market value$17.37M

0.96%

Sole

615.58K

Shared

880.00

None

27.97K

Communication Services Select S

SOLE

Equities

Shares135.78K

TypeSH

Market value$16.07M

0.89%

Sole

132.07K

Shared

0.00

None

3.71K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
State Street SPDR Portfolio S&PSOLE	Equities	2.13M	SH	$166.48M 9.24%	1.99M	5.96K	133.15K
Technology Select Sector SPDRSOLE	Equities	400.87K	SH	$112.99M 6.27%	391.06K	995.00	8.82K
iShares ESG MSCI EAFE ETFSOLE	Equities	1.05M	SH	$97.58M 5.41%	1M	1.68K	44.65K
iShares MSCI USA ESG Select ETFSOLE	Equities	589.02K	SH	$79.90M 4.43%	583.68K	0.00	5.34K
iShares Core 1-5 Year USD BondDFND	Equities	1.35M	SH	$65.73M 3.65%	1.27M	2.12K	69.24K
3M CompanySOLE	Equities	406.30K	SH	$63.05M 3.50%	406.25K	0.00	45.00
Microsoft CorpDFND	Equities	115.69K	SH	$59.92M 3.32%	84.18K	25.41K	6.11K
Apple IncDFND	Equities	211.08K	SH	$53.75M 2.98%	194.86K	5.73K	10.49K
Berkshire Hathaway Inc - CL BDFND	Equities	99.12K	SH	$49.83M 2.76%	95.86K	2.09K	1.16K
BlackRock US Equity Factor RotaSOLE	Equities	553.72K	SH	$32.78M 1.82%	512.90K	2.21K	38.62K
iShares Gold TrustSOLE	Equities	448.52K	SH	$32.64M 1.81%	419.70K	563.00	28.25K
Financial Select Sector SPDRSOLE	Equities	505.18K	SH	$27.21M 1.51%	485.11K	585.00	19.48K
Healthcare Select Sector SPDRSOLE	Equities	183.91K	SH	$25.59M 1.42%	179.86K	0.00	4.05K
Alphabet Inc CL CDFND	Equities	101.49K	SH	$24.72M 1.37%	91.42K	5.79K	4.28K
SPDR S&P 500 ETF TrustSOLE	Equities	36.66K	SH	$24.42M 1.35%	35.49K	75.00	1.09K
Consumer Discretionary Select SSOLE	Equities	101.75K	SH	$24.38M 1.35%	99.37K	0.00	2.38K
Invesco QQQ TrustSOLE	Equities	40.48K	SH	$24.30M 1.35%	36.97K	163.00	3.35K
SPDR Portfolio S&P 600 Small CaSOLE	Equities	519.86K	SH	$24.08M 1.34%	493.80K	733.00	25.32K
SPDR S&P 500 Fossil Fuel ReservSOLE	Equities	424.17K	SH	$23.27M 1.29%	393.62K	0.00	30.55K
Ares Capital CorporationSOLE	Equities	1.03M	SH	$21.12M 1.17%	923.96K	2.03K	108.91K
JPMorgan Chase & CoDFND	Equities	62.27K	SH	$19.64M 1.09%	54.93K	4.24K	3.11K
Broadcom Inc.SOLE	Equities	53.88K	SH	$17.77M 0.99%	45.85K	5.60K	2.43K
Home Depot IncDFND	Equities	43.65K	SH	$17.69M 0.98%	39.32K	2.15K	2.19K
SPDR Portfolio Long Term TreasuDFND	Equities	644.43K	SH	$17.37M 0.96%	615.58K	880.00	27.97K
Communication Services Select SSOLE	Equities	135.78K	SH	$16.07M 0.89%	132.07K	0.00	3.71K

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