THORNBURG ETF TR

Ticker: TXUE CUSIP: 88521L306 Class: INTL EQUITY ETF

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (3)

Clay Northam Wealth Management, LLC

Value ($000) $705 Shares 22,500

BCGM Wealth Management, LLC

Value ($000) $208 Shares 6,638

Summit Trail Advisors, LLC

Value ($000) $215 Shares 6,870

Institution	Shares	Value ($000)
Clay Northam Wealth Management, LLC	22,500	$705
BCGM Wealth Management, LLC	6,638	$208
Summit Trail Advisors, LLC	6,870	$215

Increased Positions (21)

CHANNEL WEALTH LLC

Value ($000) $14,596 (+17.3%) Shares 465,590 (+13.7%)

ADAPT WEALTH ADVISORS, LLC

Value ($000) $12,029 (+11.9%) Shares 383,709 (+8.5%)

Financial Designs Corp

Value ($000) $8,775 (+5.9%) Shares 279,903 (+2.7%)

One Charles Private Wealth Services, LLC

Value ($000) $5,057 (+84.4%) Shares 161,314 (+78.7%)

SENTINEL PENSION ADVISORS INC

Value ($000) $6,899 (+54.1%) Shares 220,063 (+49.4%)

FINANCIAL MANAGEMENT NETWORK INC

Value ($000) $8,997 (+19.2%) Shares 284,919 (+16.6%)

THURSTON, SPRINGER, MILLER, HERD & TITAK, INC.

Value ($000) $510 (+2578.3%) Shares 16,276 (+2495.9%)

Nautilus Advisors LLC

Value ($000) $860 (+24.0%) Shares 27,436 (+20.2%)

CASCADE INVESTMENT GROUP, INC.

Value ($000) $717 (+20.1%) Shares 22,869 (+16.4%)

Fermata Advisors, LLC

Value ($000) $4,163 (+5.8%) Shares 132,798 (+2.6%)

D.A. DAVIDSON & CO.

Value ($000) $12,066 (+360.9%) Shares 384,870 (+346.8%)

HighTower Advisors, LLC

Value ($000) $35,604 (+78.5%) Shares 1,135,695 (+73.0%)

OSAIC HOLDINGS, INC.

Value ($000) $5,904 (+35.9%) Shares 188,338 (+31.7%)

ROYAL BANK OF CANADA

Value ($000) $10,485 (+56.4%) Shares 334,454 (+51.6%)

JANE STREET GROUP, LLC

Value ($000) $3,069 (+356.5%) Shares 97,891 (+342.4%)

LPL Financial LLC

Value ($000) $2,095 (+370.0%) Shares 66,831 (+355.6%)

CITADEL ADVISORS LLC

Value ($000) $2,413 (+130.5%) Shares 76,961 (+123.5%)

Sanctuary Advisors, LLC

Value ($000) $1,351 (+35.3%) Shares 43,105 (+31.2%)

Bank of New York Mellon Corp

Value ($000) $2,343 (+17.0%) Shares 74,744 (+13.4%)

Cornerstone Wealth Group, LLC

Value ($000) $337 (+8.1%) Shares 10,747 (+4.8%)

Institution	Prev Shares	Curr Shares	Change
CHANNEL WEALTH LLC	409,634	465,590	+55,956 (+13.7%)
ADAPT WEALTH ADVISORS, LLC	353,738	383,709	+29,971 (+8.5%)
Financial Designs Corp	272,655	279,903	+7,248 (+2.7%)
One Charles Private Wealth Services, LLC	90,274	161,314	+71,040 (+78.7%)
SENTINEL PENSION ADVISORS INC	147,327	220,063	+72,736 (+49.4%)
FINANCIAL MANAGEMENT NETWORK INC	244,447	284,919	+40,472 (+16.6%)
THURSTON, SPRINGER, MILLER, HERD & TITAK, INC.	627	16,276	+15,649 (+2495.9%)
Nautilus Advisors LLC	22,820	27,436	+4,616 (+20.2%)
CASCADE INVESTMENT GROUP, INC.	19,645	22,869	+3,224 (+16.4%)
Fermata Advisors, LLC	129,460	132,798	+3,338 (+2.6%)
D.A. DAVIDSON & CO.	86,145	384,870	+298,725 (+346.8%)
HighTower Advisors, LLC	656,608	1,135,695	+479,087 (+73.0%)
OSAIC HOLDINGS, INC.	142,954	188,338	+45,384 (+31.7%)
ROYAL BANK OF CANADA	220,668	334,454	+113,786 (+51.6%)
JANE STREET GROUP, LLC	22,126	97,891	+75,765 (+342.4%)
LPL Financial LLC	14,669	66,831	+52,162 (+355.6%)
CITADEL ADVISORS LLC	34,441	76,961	+42,520 (+123.5%)
Sanctuary Advisors, LLC	32,862	43,105	+10,243 (+31.2%)
Bank of New York Mellon Corp	65,929	74,744	+8,815 (+13.4%)
Cornerstone Wealth Group, LLC	10,256	10,747	+491 (+4.8%)

Decreased Positions (3)

Noble Wealth Management PBC

Value ($000) $2,361 (+1.2%) Shares 75,323 (-1.9%)

Patten Group, Inc.

Value ($000) $362 (-27.7%) Shares 11,553 (-30.0%)

Capital Analysts, LLC

Value ($000) $5 (-1.7%) Shares 147,951 (-4.7%)

Institution	Prev Shares	Curr Shares	Change
Noble Wealth Management PBC	76,761	75,323	-1,438 (-1.9%)
Patten Group, Inc.	16,496	11,553	-4,943 (-30.0%)
Capital Analysts, LLC	155,197	147,951	-7,246 (-4.7%)

Exited Positions (1)

Global Retirement Partners, LLC

Value ($000) $10 Shares 330

Institution	Prev Shares	Prev Value ($000)
Global Retirement Partners, LLC	330	$10