Trajan Wealth ETF

Current Holdings

Holdings As of 09/28/2023
Ticker	CUSIP	Description	Quantity	% Net Assets
3132DWHU	3132DWHU0	3132DWHU0	1,167,080	3.02%
MTVD 685	61980AAD5	MOTIVA ENTERPRISES	1,000,000	2.72%
91282CGU	91282CGU9	91282CGU9	1,000,000	2.62%
91282CGN	91282CGN5	91282CGN5	1,000,000	2.61%
3136BPM7	3136BPM73	3136BPM73	949,255	2.48%
3133BYCW	3133BYCW7	3133BYCW7	969,678	2.46%
HPQ 6	428236BR3	HP Inc	1,000,600	2.46%
SBBA	80918T208	Scorpio Tankers	36,925	2.41%
OLN 5	680665AK2	Olin Corp	1,000,200	2.35%
SEAL A	Y8564M204	Seapeak LLC	35,860	2.26%
FCX 5	35671DBC8	Freeport McMoran	1,000,000	2.25%
AHL D	G05384162	Aspen Insurance Holdings	44,973	2.23%
FTAIP	G3730V113	Fortress Transportation Part	36,065	2.21%
ATH A	G0684D305	Athene Holding Ltd	38,653	2.2%
BHFAL	10922N202	BRIGHTHOUSE FINANCIAL JNR SUB DEBENT	35,113	2.12%
SBLK	Y8162K204	Y8162K204	42,100	2.12%
VMI 5	920253AE1	Valmont Industries Inc	1,010,800	2.11%
AGM F	313148843	Farmer Mac	38,327	2.1%
CODI C	20451Q401	Compass Diversified Holdings	33,014	2.09%
ALL H	020002838	ALLSTATE DS REP 1 1000 SRS H PRF	40,100	2.08%
T A	00206R508	AT T DS REP 1 1000 PERP SRS A PRF	39,600	2.07%
VLO	91913Y100	Valero Energy	5,340	2.06%
PXD	723787107	PIONEER NATURAL RESOURCE ORD	3,340	2.05%
NLY I	035710847	Annaly Capital	32,197	2.04%
K	487836108	487836108	13,037	2.03%
BG	G16962105	Bunge Ltd.	6,911	2.01%
SON	835495102	Sonoco Products Co.	14,023	1.99%
FLO	343498101	Flowers Foods Inc	33,919	1.98%
BY 5	118230AM3	Buckeye Partners	1,000,000	1.98%
BX	09260D107	BLACKSTONE ORD	6,952	1.98%
CMSC	125896852	CMS ENERGY 5 875 JUNIOR SBRDNTD NTS	32,834	1.97%
BMY	110122108	Bristol-Meyers Squibb	12,878	1.97%
DX C	26817Q878	Dynex Capital	33,268	1.97%
ABR F	038923850	ARBOR REALTY ABR	38,823	1.95%
BKH	092113109	Black Hills Corp	14,461	1.92%
WMB	969457100	Williams Co INC	20,963	1.89%
PEB-G	70509V803	Pebblebrook Hotel	36,568	1.87%
O	756109104	Realty Income Corporation	14,215	1.85%
OGE	670837103	OGE Energy Corp	21,091	1.84%
3136AX2G	3136AX2G9	3136AX2G9	1,000,000	1.83%
AIG	026874784	American Intl Group	10,815	1.74%
VFC	918204108	918204108	34,358	1.5%
TMUS 3.6	87264ABY0	T-Mobile USA Inc	824,800	1.36%
CMRE E	Y1771G201	Costamare Inc	18,979	1.27%
CLECLI 4	18600TAA0	Cleveland Clinic	569,200	1.23%
DCOMP	25432X201	Dime Community Bancorp	29,790	1.16%
KREFP	48251K209	KKR REAL ESTATE FIN	25,877	1.12%
AAL 3	90346WAA1	US Airways 2013-1A PT Trust	431,313	1.09%
IVR B	46131B407	Invesco Mortgage Capital	17,915	0.99%
3132DWF5	3132DWF57	3132DWF57	351,700	0.87%
INN E	866082605	Summit Hotel Properties	17,029	0.87%
CMRE B	Y1771G110	Y1771G110	9,903	0.65%

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.

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