XCEL BRANDS INC

Ticker: XELB CUSIP: 98400M200 Class: COM

Tower Research Capital LLC (TRC)'s Holding History (CIK: 0001533421)

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

Q4 2025

Shares 2,726 Value ($000) $3 Avg Close $1.31 Range $0.74 - $2.66

Q3 2025

Shares 346 Value ($000) $1 Avg Close $1.45 Range $0.95 - $1.95

Q2 2025

Shares 22 Value ($000) $0 Avg Close $2.35 Range $1.60 - $4.20

Q1 2025

Shares 1,634 Value ($000) $5 Avg Close $3.76 Range $2.50 - $5.49

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	2,726	$3	$1.31	$0.74 - $2.66
Q3 2025	346	$1	$1.45	$0.95 - $1.95
Q2 2025	22	$0	$2.35	$1.60 - $4.20
Q1 2025	1,634	$5	$3.76	$2.50 - $5.49