TIDAL TRUST II

Ticker: SMST CUSIP: 88636V769 Class: DEFIANCE DAILY T

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (7)

Jump Financial, LLC

Value ($000) $2,457 Shares 26,480

Headlands Technologies LLC

Value ($000) $233 Shares 2,506

GTS SECURITIES LLC

Value ($000) $304 Shares 3,271

FLOW TRADERS U.S. LLC

Value ($000) $1 Shares 5,985

Bank of New York Mellon Corp

Value ($000) $650 Shares 7,000

SIMPLEX TRADING, LLC

Value ($000) $403 Shares 4,341

JANE STREET GROUP, LLC

Value ($000) $263 Shares 2,831

Institution	Shares	Value ($000)
Jump Financial, LLC	26,480	$2,457
Headlands Technologies LLC	2,506	$233
GTS SECURITIES LLC	3,271	$304
FLOW TRADERS U.S. LLC	5,985	$1
Bank of New York Mellon Corp	7,000	$650
SIMPLEX TRADING, LLC	4,341	$403
JANE STREET GROUP, LLC	2,831	$263

Increased Positions (2)

Tower Research Capital LLC (TRC)

Value ($000) $235 (+1579.6%) Shares 2,534 (+430.1%)

Optiver Holding B.V.

Value ($000) $992 (+711.1%) Shares 10,685 (+156.0%)

Institution	Prev Shares	Curr Shares	Change
Tower Research Capital LLC (TRC)	478	2,534	+2,056 (+430.1%)
Optiver Holding B.V.	4,174	10,685	+6,511 (+156.0%)

Decreased Positions (3)

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $657 (-17.5%) Shares 7,083 (-74.0%)

Value ($000) $21 (-92.7%) Shares 229 (-97.7%)

Belvedere Trading LLC

Value ($000) $247 (+11.6%) Shares 2,665 (-64.8%)

Institution	Prev Shares	Curr Shares	Change
SUSQUEHANNA INTERNATIONAL GROUP, LLP	27,207	7,083	-20,124 (-74.0%)
UBS Group AG	9,956	229	-9,727 (-97.7%)
Belvedere Trading LLC	7,564	2,665	-4,899 (-64.8%)

Exited Positions (3)

CITADEL ADVISORS LLC

Value ($000) $215 Shares 7,354

GROUP ONE TRADING, L.P.

Value ($000) $90 Shares 3,066

Value ($000) $0 Shares 1

Institution	Prev Shares	Prev Value ($000)
CITADEL ADVISORS LLC	7,354	$215
GROUP ONE TRADING, L.P.	3,066	$90
CITIGROUP INC	1	$0