Trajan Wealth ETF

q3 Holdings

Holdings As of 06/30/2023
Ticker	CUSIP	Description	Quantity	% Net Assets
MTVD 685	61980AAD5	MOTIVA ENTERPRISES	1,000,000	3.82%
91282CGN	91282CGN5	91282CGN5	1,000,000	3.53%
91282CGU	91282CGU9	91282CGU9	1,000,000	3.47%
3133BYCW	3133BYCW7	3133BYCW7	985,318	3.44%
3136BPM7	3136BPM73	3136BPM73	980,389	3.43%
OLN 5	680665AK2	Olin Corp	1,000,200	3.3%
SBBA	80918T208	Scorpio Tankers	36,925	3.21%
SEAL A	Y8564M204	Seapeak LLC	35,860	3.09%
FTAIP	G3730V113	Fortress Transportation Part	36,065	2.94%
AGM F	313148843	Farmer Mac	33,527	2.81%
3136AX2G	3136AX2G9	3136AX2G9	1,000,000	2.67%
CODI C	20451Q401	Compass Diversified Holdings	28,114	2.53%
BY 5	118230AM3	Buckeye Partners	934,000	2.48%
DX C	26817Q878	Dynex Capital	30,668	2.38%
FCX 5	35671DBC8	Freeport McMoran	722,000	2.38%
HPQ 6	428236BR3	HP Inc	665,600	2.37%
AHL D	G05384162	Aspen Insurance Holdings	33,248	2.21%
NLY I	035710847	Annaly Capital	26,297	2.16%
BX	09260D107	BLACKSTONE ORD	6,303	2.05%
WMB	969457100	Williams Co INC	17,863	2.04%
VLO	91913Y100	Valero Energy	4,940	2.03%
TMUS 3.6	87264ABY0	T-Mobile USA Inc	824,800	2.03%
ATH A	G0684D305	Athene Holding Ltd	27,153	2%
AIG	026874784	American Intl Group	9,865	1.99%
VMI 5	920253AE1	Valmont Industries Inc	636,800	1.99%
SON	835495102	Sonoco Products Co.	9,423	1.95%
PEB-G	70509V803	Pebblebrook Hotel	29,218	1.91%
BMY	110122108	Bristol-Meyers Squibb	8,206	1.84%
BG	G16962105	Bunge Ltd.	5,511	1.82%
FLO	343498101	Flowers Foods Inc	20,800	1.81%
CLECLI 4	18600TAA0	Cleveland Clinic	569,200	1.79%
OGE	670837103	OGE Energy Corp	13,991	1.76%
K	487836108	487836108	7,300	1.72%
ABR F	038923850	ARBOR REALTY ABR	23,132	1.7%
CMRE E	Y1771G201	Costamare Inc	18,979	1.67%
O	756109104	Realty Income Corporation	7,915	1.66%
BKH	092113109	Black Hills Corp	7,719	1.63%
PLYM A	729640201	Plymouth Industrial	18,370	1.61%
MPW	58463J304	Medical Properties Trust	47,407	1.54%
SBLK	Y8162K204	Y8162K204	23,500	1.46%
KREFP	48251K209	KKR REAL ESTATE FIN	22,980	1.45%
VFC	918204108	918204108	21,635	1.45%
DCOMP	25432X201	Dime Community Bancorp	23,655	1.35%
IVR B	46131B407	Invesco Mortgage Capital	18,215	1.35%
INN E	866082605	Summit Hotel Properties	18,169	1.32%
AAL 3	90346WAA1	US Airways 2013-1A PT Trust	225,804	0.74%
CMRE B	Y1771G110	Y1771G110	2,000	0.17%

Serial Number RCTWO0923001

Important Risk Information

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.
Fixed Income Risk: When investing in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities.
Junk Bond Risk: The Fund may invest in junk bonds that are considered speculative. Junk bonds are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations and may be less liquid than higher-rated bonds. These securities may be subject to greater price volatility due to factors such as corporate developments, interest rate sensitivity, negative perceptions of the junk bond market, and less secondary market liquidity.

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

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.

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.

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.

©2023 – All Rights Reserved