SEC Filing Analysis: Spinnaker Investment Group, LLC (13F-HR)

Executive Summary

• Trading Significance: Medium
• Key Takeaway: Spinnaker Investment Group, LLC has reported assets under management of approximately $532.1 million as of September 30, 2025. The portfolio shows a strong concentration in broad-market and dividend-focused ETFs, indicating a strategy centered on diversified, core holdings.
• Market Impact: As a quarterly holdings report from a mid-sized investment firm, this filing is unlikely to cause immediate market volatility. However, it provides valuable insight into institutional strategy and sentiment, particularly the continued preference for diversified ETFs and blue-chip equities.

Filer Information

Field	Value
Filer Name	Spinnaker Investment Group, LLC
CIK	0001911067
Type	Institutional Investment Manager

Portfolio Overview

Field	Value
Form Type	13F-HR (Holdings Report)
Period of Report	2025-09-30
Total Portfolio Value	$532,105,866
Number of Holdings	157

Top 5 Holdings

Issuer	Est. Ticker	Value (USD)	Shares
DIMENSIONAL ETF TRUST US CORE EQT MKT	DFAC	$110,229,024	2,408,851
WISDOMTREE TR US QTLY DIV GRT	DGRW	$54,740,641	615,340
SCHWAB STRATEGIC TR US DIVIDEND EQ	SCHD	$50,324,505	1,843,388
DIMENSIONAL ETF TRUST INTL CORE EQT MK	DFAI	$42,830,344	1,178,276
MICROSOFT CORP	MSFT	$33,729,651	65,121

Portfolio Analysis

Strategy & Concentration

• Core Strategy: The portfolio is heavily anchored by large, diversified ETFs, with the top four holdings all being exchange-traded funds. The top holding alone, Dimensional's US Core Equity Market ETF, accounts for over 20% of the entire portfolio value. This suggests a core-satellite strategy, using broad-market ETFs as the foundation.
• Sector & Asset Allocation: Beyond the core ETFs, the portfolio includes significant individual stock positions in mega-cap technology (Microsoft, Apple, NVIDIA, Broadcom) and blue-chip names (Berkshire Hathaway, Johnson & Johnson), indicating a bullish stance on established market leaders.
• Sentiment Indicator: The overall portfolio composition is bullish on the broad market, with a clear preference for quality and dividend growth factors as evidenced by the specific ETFs chosen (DGRW, SCHD).

Investment Insights

Key Observations

1. Dominance of ETFs: The top holdings underscore a strong reliance on ETFs for achieving market exposure, a common strategy for managing risk and reducing costs.
2. Blue-Chip Conviction: Significant capital is allocated to well-established, large-cap companies, particularly in the technology and financial sectors.
3. Backward-Looking Data: This filing reflects positions held as of September 30, 2025. The portfolio may have been adjusted since that date in response to market changes.

Risk Assessment

Risk Level: Medium

Risk Factors

• Market Risk: The portfolio's heavy concentration in broad equity ETFs makes it highly susceptible to overall market downturns.
• Concentration Risk: While diversified across many holdings, a significant portion of the value is concentrated in a few large ETF positions. The performance of these specific funds will heavily influence the portfolio's returns.
• Information Lag: As with all 13F filings, the data is over 40 days old at the time of filing, and does not reflect real-time positioning or any short positions held by the fund.

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IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-10 | Data source: SEC EDGAR