ADVISORSHARES TR

Ticker: HDGE CUSIP: 00768Y412 Class: RANGER EQUITY BE

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (5)

JANE STREET GROUP, LLC
Value ($000) $459 Shares 28,631
CITADEL ADVISORS LLC
Value ($000) $350 Shares 21,822
AE Wealth Management LLC
Value ($000) $2 Shares 148
Litman Gregory Wealth Management LLC
Value ($000) $2 Shares 100
HRT FINANCIAL LP
Value ($000) $0 Shares 10,274

Increased Positions (5)

MORGAN STANLEY
Value ($000) $7,268 (+75.7%) Shares 453,661 (+79.7%)
LPL Financial LLC
Value ($000) $7,872 (+10.1%) Shares 491,365 (+12.6%)
NATIONAL BANK OF CANADA /FI/
Value ($000) $430 (+17636.5%) Shares 26,955 (+17870.0%)
ROYAL BANK OF CANADA
Value ($000) $1,328 (+21.2%) Shares 82,891 (+23.9%)
Tower Research Capital LLC (TRC)
Value ($000) $3 (+5359.2%) Shares 167 (+5466.7%)

Decreased Positions (6)

Vanguard Capital Wealth Advisors
Value ($000) $1,492 (-25.0%) Shares 93,158 (-23.3%)
OSAIC HOLDINGS, INC.
Value ($000) $1 (-100.0%) Shares 46 (-100.0%)
UBS Group AG
Value ($000) $185 (-93.7%) Shares 11,568 (-93.5%)
MML INVESTORS SERVICES, LLC
Value ($000) $1,458 (-9.1%) Shares 90,992 (-7.0%)
BANK OF MONTREAL /CAN/
Value ($000) $155 (-40.4%) Shares 9,700 (-39.0%)
SIMPLEX TRADING, LLC
Value ($000) $27 (+50498.1%) Shares 1,674 (-49.0%)

Exited Positions (1)

RAYMOND JAMES FINANCIAL INC
Value ($000) $636 Shares 38,821