ETF SER SOLUTIONS

Ticker: TRFM CUSIP: 26922B683 Class: AAM TRANSFORMERS

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (9)

OPPENHEIMER & CO INC
Value ($000) $448 Shares 9,400
Prospera Financial Services Inc
Value ($000) $330 Shares 6,920
STIFEL FINANCIAL CORP
Value ($000) $1,846 Shares 38,735
CHILTON INVESTMENT CO INC.
Value ($000) $220 Shares 4,608
TRUIST FINANCIAL CORP
Value ($000) $608 Shares 12,750
JANE STREET GROUP, LLC
Value ($000) $759 Shares 15,927
WELLS FARGO & COMPANY/MN
Value ($000) $228 Shares 4,778
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $226 Shares 4,749
FMR LLC
Value ($000) $40 Shares 838

Increased Positions (11)

Key Client Fiduciary Advisors, LLC
Value ($000) $1,773 (+74.8%) Shares 37,199 (+77.7%)
SeaCrest Wealth Management, LLC
Value ($000) $2,826 (+4.5%) Shares 56,598 (+5.0%)
OSAIC HOLDINGS, INC.
Value ($000) $7,119 (+40.3%) Shares 149,396 (+35.5%)
RAYMOND JAMES FINANCIAL INC
Value ($000) $3,499 (+288.7%) Shares 73,427 (+295.1%)
Cetera Investment Advisers
Value ($000) $2,125 (+73.4%) Shares 44,591 (+76.2%)
ROYAL BANK OF CANADA
Value ($000) $508 (+211.7%) Shares 10,652 (+215.8%)
Balboa Wealth Partners
Value ($000) $308 (+4.8%) Shares 6,463 (+6.5%)
PRINCIPAL SECURITIES, INC.
Value ($000) $262 (+14.2%) Shares 5,496 (+16.1%)
COMMONWEALTH EQUITY SERVICES, LLC
Value ($000) $1,743 (+101973.8%) Shares 36,588 (+3.7%)
ENVESTNET ASSET MANAGEMENT INC
Value ($000) $566 (+3.5%) Shares 11,874 (+5.2%)
Steward Partners Investment Advisory, LLC
Value ($000) $161 (+7.8%) Shares 3,377 (+9.6%)

Decreased Positions (4)

LPL Financial LLC
Value ($000) $59,718 (-6.8%) Shares 1,253,257 (-5.3%)
FARMERS & MERCHANTS TRUST Co OF LONG BEACH
Value ($000) $995 (-3.4%) Shares 20,871 (-1.8%)
PRIVATE TRUST CO NA
Value ($000) $152 (-13.7%) Shares 3,199 (-12.2%)
KESTRA PRIVATE WEALTH SERVICES, LLC
Value ($000) $1,327 (-4.7%) Shares 27,858 (-3.1%)

Exited Positions (1)

Golden State Wealth Management, LLC
Value ($000) $22 Shares 446