TWIO ETF

Q1 Holdings

Holdings As of 12/31/2023
Ticker	CUSIP	Description	Quantity	% Net Assets
Cash	Cash	Cash / Cash Equivalents	1,262,977	3.63%
3132DWHU	3132DWHU0	3132DWHU0	1,143,708	3.32%
MTVD 685	61980AAD5	MOTIVA ENTERPRISES	1,000,000	3.23%
HPQ 6	428236BR3	HP Inc	1,000,600	3.07%
91282CGU	91282CGU9	91282CGU9	1,000,000	2.86%
FCX 5	35671DBC8	Freeport McMoran	1,000,000	2.82%
3140XLXD	3140XLXD5	Fannie Mae	990,055	2.8%
OLN 5	680665AK2	Olin Corp	1,000,200	2.78%
3133BYCW	3133BYCW7	3133BYCW7	958,254	2.76%
VMI 5	920253AE1	Valmont Industries Inc	1,010,800	2.64%
3136BPM7	3136BPM73	3136BPM73	893,236	2.59%
BY 5	118230AM3	Buckeye Partners	1,000,000	2.34%
BX	09260D107	BLACKSTONE ORD	6,142	2.3%
C	172967424	CITIGROUP ORD	14,300	2.1%
AIG	026874784	American Intl Group	10,815	2.09%
WMB	969457100	Williams Co INC	20,963	2.09%
K	487836108	487836108	13,037	2.08%
FSK	302635206	FS KKR CAPITAL ORD	36,000	2.05%
VZ	92343V104	VERIZON COMMUNICATIONS ORD	18,901	2.04%
IBM	459200101	INTERNATIONAL BUSINESS MACHINES ORD.	4,352	2.03%
SBLK	Y8162K204	Y8162K204	33,348	2.03%
O	756109104	Realty Income Corporation	12,329	2.02%
SON	835495102	Sonoco Products Co.	12,573	2.01%
PXD	723787107	PIONEER NATURAL RESOURCE ORD	3,109	2%
BG	G16962105	Bunge Ltd.	6,911	1.99%
BKH	092113109	Black Hills Corp	12,931	1.99%
OGE	670837103	OGE Energy Corp	19,885	1.98%
VLO	91913Y100	Valero Energy	5,340	1.98%
BMY	110122108	Bristol-Meyers Squibb	12,878	1.89%
AHL D	G05384162	Aspen Insurance Holdings	31,119	1.85%
SBBA	80918T208	Scorpio Tankers	25,342	1.8%
SEAL A	Y8564M204	Seapeak LLC	25,746	1.79%
CODI C	20451Q401	Compass Diversified Holdings	24,920	1.78%
FTAIP	G3730V113	Fortress Transportation Part	25,149	1.77%
CMSC	125896852	CMS ENERGY 5 875 JUNIOR SBRDNTD NTS	25,032	1.77%
T A	00206R508	AT T DS REP 1 1000 PERP SRS A PRF	29,430	1.76%
AGM F	313148843	Farmer Mac	29,430	1.74%
TMUS 3.6	87264ABY0	T-Mobile USA Inc	824,800	1.73%
ATH A	G0684D305	Athene Holding Ltd	26,468	1.7%
ALL H	020002838	ALLSTATE DS REP 1 1000 SRS H PRF	27,814	1.69%
CLECLI 4	18600TAA0	Cleveland Clinic	569,200	1.54%
91282CGN	91282CGN5	91282CGN5	500,000	1.45%
26252JAS	26252JAS7	DRSLF 2019-75A AR2	500,000	1.42%
CMRE E	Y1771G201	Costamare Inc	18,979	1.4%
ABR F	038923850	ARBOR REALTY ABR	24,392	1.31%
AAL 3	90346WAA1	US Airways 2013-1A PT Trust	398,239	1.09%
3132DWF5	3132DWF57	3132DWF57	347,522	0.98%
CMRE B	Y1771G110	Y1771G110	9,903	0.7%
3130AHMZ	3130AHMZ3	FHLB 2 1/2 12/09/39	240,000	0.52%
3133ENCF	3133ENCF5	FFCB 2.55 10/26/46	150,000	0.28%
3133EJCQ	3133EJCQ0	FFCB 3.44 02/16/38	52,000	0.13%
3133EJFF	3133EJFF1	FFCB 3.66 03/07/44	52,000	0.13%
3133EEKC	3133EEKC3	FFCB 3.45 01/20/44	52,000	0.12%
3133EESW	3133EESW1	FFCB 3.46 03/09/38	15,000	0.04%

Serial Number RCTWO0924001

Important Risk Information

An investor should consider the investment objectives, risks, and charges, and expenses of the Fund before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at https://trajanwealthetf.com/ or by calling Shareholder Services at 800-773-3863. The prospectus should be read carefully before investing. Current and future holdings are subject to change and risk.

Investments in the Fund are subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective.

Investment in the Fund is also subject to the following risks:

Preferred Securities Risk: Preferred securities may be subject to redemption, including at the issuer’s call, and the Fund may not be able to reinvest the proceeds at comparable or favorable rates of return. These securities are generally subordinated to bonds and other debt securities in an issuer’s capital structure in terms of priority for corporate income and liquidation payments. These securities may trade less frequently and in a more limited volume and may be subject to more abrupt or erratic price movements than other securities.
Financial Companies Risk: Financial companies, insurance companies and financial services companies, are especially subject to the adverse effects of economic recession, currency exchange rates, extensive government regulation, decreases in the availability of capital, volatile interest rates, portfolio concentrations in geographic markets, industries or products (such as commercial and residential real estate loans), competition from new entrants and blurred distinctions in their fields of business.
Energy Companies Risk: Issuers in energy-related industries can be significantly affected by fluctuations in energy prices and supply and demand of energy fuels. Markets for various energy-related commodities can have significant volatility and are subject to control or manipulation by large producers or purchasers. Companies in the energy sector may need to make substantial expenditures, and to incur significant amounts of debt, in order to maintain or expand their reservices.

While the shares of the Fund are tradeable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. ETFs trade like stocks, are subject to investment risks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

More information about these risks can be found in the Fund’s prospectus.

The Trajan Wealth Income Opportunities ETF is distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, North Carolina 27609. There is no affiliation between Trajan Wealth, LLC, including their principals, and Capital Investment Group, Inc.

*Advisory services offered through Trajan Wealth L.L.C., an SEC Registered Investment Advisor. Fiduciary advisor not dually licensed as a securities broker and not able to sell securities for a commission.

©2024 – All Rights Reserved