2023 ETF SERIES TRUST II

Ticker: GMOI CUSIP: 90139K407 Class: GMO INTL VALUE

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (7)

FIDELITY D & D BANCORP INC
Value ($000) $14,370 Shares 427,937
Orcam Financial Group
Value ($000) $485 Shares 14,450
Aspen Investment Management Inc
Value ($000) $0 Shares 12,580
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC
Value ($000) $262 Shares 7,807
Grantham, Mayo, Van Otterloo & Co. LLC
Value ($000) $1,883 Shares 56,070
LPL Financial LLC
Value ($000) $1,065 Shares 31,730
MONTAG A & ASSOCIATES INC
Value ($000) $4 Shares 125

Increased Positions (8)

Maltin Wealth Management, Inc.
Value ($000) $5,370 (+18.4%) Shares 159,910 (+9.5%)
Pathway Financial Advisors LLC
Value ($000) $1,686 (+22.4%) Shares 49,388 (+11.3%)
J.W. COLE ADVISORS, INC.
Value ($000) $1,748 (+80.3%) Shares 52,060 (+66.7%)
HighTower Advisors, LLC
Value ($000) $24,204 (+40.5%) Shares 720,793 (+30.0%)
Centurion Wealth Management LLC
Value ($000) $336 (+27.2%) Shares 10,000 (+17.6%)
KESTRA PRIVATE WEALTH SERVICES, LLC
Value ($000) $568 (+22.9%) Shares 16,910 (+13.6%)
Sunbelt Securities, Inc.
Value ($000) $519 (+9.3%) Shares 15,442 (+1.0%)
Farther Finance Advisors, LLC
Value ($000) $27 (+23.6%) Shares 800 (+14.3%)

Decreased Positions (3)

JANE STREET GROUP, LLC
Value ($000) $393 (-77.5%) Shares 11,701 (-79.2%)
UBS Group AG
Value ($000) $37 (-35.0%) Shares 1,107 (-39.9%)
Coston, McIsaac & Partners
Value ($000) $0 (+4.3%) Shares 740 (-1.1%)

Exited Positions (3)

STAR Financial Bank
Value ($000) $327 Shares 10,523
FLOW TRADERS U.S. LLC
Value ($000) $2 Shares 58,428
CITADEL ADVISORS LLC
Value ($000) $1,397 Shares 45,008