SCHEDULE: BNY Mellon Reports 27.9% Stake in Spinnaker ETF Series

The Bank of New York Mellon Corporation and its subsidiaries have filed an amendment to their Schedule 13G, reporting a 27.9% beneficial ownership stake in Spinnaker ETF Series' Genter Capital Taxable Quality Intermediate ETF.

Summary

• The Bank of New York Mellon Corporation and its direct and indirect subsidiaries, including BNY Mellon IHC, LLC, MBC Investments Corp, and BNY Mellon Advisors, Inc., collectively beneficially own 1,384,344 shares of Spinnaker ETF Series' Genter Capital Taxable Quality Intermediate ETF.
• This aggregate amount represents 27.9% of the class of securities.
• The reporting persons hold sole voting power over 1,354,651 shares and shared dispositive power over 1,384,344 shares.
• The securities are beneficially owned in various fiduciary capacities, and no single other person's interest in these securities exceeds 5%.
• The acquisition and holding of these securities are stated to be in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain positive or negative performance indicators or strategic announcements.

Future Outlook

Not applicable as this filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding the issuer's performance or strategy.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 240.14a-11.

Industry Context

This filing reflects a significant institutional ownership stake by a major financial services firm, The Bank of New York Mellon Corporation, in an ETF. Such large holdings by institutional investors are common in the ETF market, indicating confidence or strategic allocation within their managed portfolios. It does not provide specific insights into broader industry trends beyond the general activity of large asset managers.

Related Party Transactions

• The Bank of New York Mellon Corporation and its direct or indirect subsidiaries beneficially own the securities in various fiduciary capacities, meaning another entity is entitled to dividends or proceeds of sale. No one other person's interest in the securities reported is more than 5%.

Stakeholder Impact

• Shareholders of Spinnaker ETF Series should note the significant institutional ownership by The Bank of New York Mellon Corporation, representing a substantial portion of the fund's outstanding shares. This indicates a large, stable institutional holder, which can be viewed positively for market stability and liquidity.

Key Dates

Keywords

Spinnaker ETF Series, Genter Capital Taxable Quality Intermediate ETF, BNY Mellon, Bank of New York Mellon, Schedule 13G, Beneficial Ownership, ETF, Investment Adviser, Holding Company, SEC Filing