HCW BIOLOGICS INC

Ticker: HCWB CUSIP: 40423R204 Class: Common Stock

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (5)

ARMISTICE CAPITAL, LLC
Value ($000) $291 Shares 300,180
CITADEL ADVISORS LLC
Value ($000) $22 Shares 22,158
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $19 Shares 20,071
J.W. COLE ADVISORS, INC.
Value ($000) $12 Shares 12,500
UBS Group AG
Value ($000) $2 Shares 1,739

Increased Positions (3)

Tower Research Capital LLC (TRC)
Value ($000) $4 (-24.3%) Shares 4,504 (+188.3%)
GEODE CAPITAL MANAGEMENT, LLC
Value ($000) $14 (-66.5%) Shares 14,037 (+27.6%)
BANK OF AMERICA CORP /DE/
Value ($000) $0 (-70.3%) Shares 11 (+10.0%)

Decreased Positions (3)

DRW Securities, LLC
Value ($000) $34 (-88.9%) Shares 35,281 (-57.7%)
WELLS FARGO & COMPANY/MN
Value ($000) $1 (-84.6%) Shares 1,000 (-41.2%)
CITIGROUP INC
Value ($000) $0 (-99.9%) Shares 1 (-99.7%)

Exited Positions (1)

SBI Securities Co., Ltd.
Value ($000) $0 Shares 1