UNITED GUARDIAN INC

Ticker: UG CUSIP: 910571108 Class: COM

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (1)

CALDWELL SUTTER CAPITAL, INC.
Value ($000) $20 Shares 3,324

Increased Positions (5)

SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $90 (+14.9%) Shares 14,583 (+45.5%)
GAMCO INVESTORS, INC. ET AL
Value ($000) $1,001 (-20.1%) Shares 162,500 (+1.9%)
GEODE CAPITAL MANAGEMENT, LLC
Value ($000) $219 (-14.6%) Shares 35,560 (+8.2%)
RENAISSANCE TECHNOLOGIES LLC
Value ($000) $1,150 (-20.8%) Shares 186,645 (+1.0%)
BlackRock, Inc.
Value ($000) $68 (-19.2%) Shares 10,962 (+3.0%)

Decreased Positions (7)

Rodgers Brothers Inc.
Value ($000) $455 (-29.6%) Shares 73,850 (-10.2%)
UBS Group AG
Value ($000) $2 (-98.8%) Shares 333 (-98.5%)
NEUBERGER BERMAN GROUP LLC
Value ($000) $64 (-61.7%) Shares 10,355 (-51.1%)
DIMENSIONAL FUND ADVISORS LP
Value ($000) $462 (-23.7%) Shares 74,945 (-3.3%)
Tower Research Capital LLC (TRC)
Value ($000) $4 (-57.6%) Shares 591 (-45.9%)
SBI Securities Co., Ltd.
Value ($000) $1 (-22.8%) Shares 134 (-1.5%)
MORGAN STANLEY
Value ($000) $0 (-22.6%) Shares 79 (-1.3%)

Exited Positions (5)

ESSEX INVESTMENT MANAGEMENT CO LLC
Value ($000) $55 Shares 7,013
NORTHERN TRUST CORP
Value ($000) $151 Shares 19,271
PRINCIPAL SECURITIES, INC.
Value ($000) $3 Shares 354
FMR LLC
Value ($000) $1 Shares 171
Advantage Trust Co
Value ($000) $1 Shares 100