TIDAL TR II

Ticker: SMCX CUSIP: 88636R123 Class: DEFIANCE DT 2X L

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (4)

Value ($000) $313 Shares 27,488

SIMPLEX TRADING, LLC

Value ($000) $95 Shares 8,373

GROUP ONE TRADING, L.P.

Value ($000) $9 Shares 832

HRT FINANCIAL LP

Value ($000) $0 Shares 20,074

Institution	Shares	Value ($000)
UBS Group AG	27,488	$313
SIMPLEX TRADING, LLC	8,373	$95
GROUP ONE TRADING, L.P.	832	$9
HRT FINANCIAL LP	20,074	$0

Increased Positions (2)

CITADEL ADVISORS LLC

Value ($000) $924 (+284.3%) Shares 81,031 (+1209.9%)

Tower Research Capital LLC (TRC)

Value ($000) $6 (-1.7%) Shares 516 (+235.1%)

Institution	Prev Shares	Curr Shares	Change
CITADEL ADVISORS LLC	6,186	81,031	+74,845 (+1209.9%)
Tower Research Capital LLC (TRC)	154	516	+362 (+235.1%)

Decreased Positions (2)

Value ($000) $0 (-99.8%) Shares 43 (-99.2%)

Optiver Holding B.V.

Value ($000) $255 (-76.1%) Shares 22,329 (-18.4%)

Institution	Prev Shares	Curr Shares	Change
CITIGROUP INC	5,358	43	-5,315 (-99.2%)
Optiver Holding B.V.	27,354	22,329	-5,025 (-18.4%)

Exited Positions (4)

GTS SECURITIES LLC

Value ($000) $687 Shares 17,684

Value ($000) $37,889 Shares 975,000

RENAISSANCE TECHNOLOGIES LLC

Value ($000) $358 Shares 9,200

Fairscale Capital, LLC

Value ($000) $2 Shares 52

Institution	Prev Shares	Prev Value ($000)
GTS SECURITIES LLC	17,684	$687
MORGAN STANLEY	975,000	$37,889
RENAISSANCE TECHNOLOGIES LLC	9,200	$358
Fairscale Capital, LLC	52	$2