ETF OPPORTUNITIES TRUST

Ticker: BMAX CUSIP: 26923N322 Class: ETF

Holders for Q4 2025 Position Changes for Q4 2025

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

Increased Positions (3)

Elequin Capital, LP

Value ($000) $476 (+111698.6%) Shares 20,670 (+137700.0%)

JANE STREET GROUP, LLC

Value ($000) $770 (+48.0%) Shares 33,400 (+82.5%)

SBI Securities Co., Ltd.

Value ($000) $2 (+45.9%) Shares 99 (+80.0%)

Institution	Prev Shares	Curr Shares	Change
Elequin Capital, LP	15	20,670	+20,655 (+137700.0%)
JANE STREET GROUP, LLC	18,299	33,400	+15,101 (+82.5%)
SBI Securities Co., Ltd.	55	99	+44 (+80.0%)

Exited Positions (3)

Value ($000) $16 Shares 559

OSAIC HOLDINGS, INC.

Value ($000) $2 Shares 75

SIMPLEX TRADING, LLC

Value ($000) $0 Shares 48

Institution	Prev Shares	Prev Value ($000)
UBS Group AG	559	$16
OSAIC HOLDINGS, INC.	75	$2
SIMPLEX TRADING, LLC	48	$0