Spinnaker ETF Series - Obra High Grade Structured Products ETF is an exchange traded fund launched and managed by Obra Fund Management, LLC. The fund invests in fixed income markets of the United States. It primarily invests in investment grade securitized asset instruments including asset-backed securities, collateralized debt obligations, collateralized mortgage obligations, collateralized loan obligations, agency and non-agency mortgage-backed securities such as commercial mortgage-backed securities and residential mortgage-backed securities that are rated as Baa3/BBB- or higher by nationally recognized statistical rating organizations. The fund invests in securities with varying maturities. It employs fundamental and quantitative analysis with bottom-up and top-down security picking approach to create its portfolio. Spinnaker ETF Series - Obra High Grade Structured Products ETF was formed on April 9, 2024 and is domiciled in the United States.