XCEL BRANDS INC

Ticker: XELB CUSIP: 98400M200 Class: COM

Summit Trail Advisors, LLC's Holding History (CIK: 0001698478)

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

Q4 2025

Shares 330,950 Value ($000) $357 Avg Close $1.31 Range $0.74 - $2.66

Q3 2025

Shares 330,950 Value ($000) $582 Avg Close $1.45 Range $0.95 - $1.95

Q2 2025

Shares 236,250 Value ($000) $428 Avg Close $2.35 Range $1.60 - $4.20

Q1 2025

Shares 196,250 Value ($000) $553 Avg Close $3.76 Range $2.50 - $5.49

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	330,950	$357	$1.31	$0.74 - $2.66
Q3 2025	330,950	$582	$1.45	$0.95 - $1.95
Q2 2025	236,250	$428	$2.35	$1.60 - $4.20
Q1 2025	196,250	$553	$3.76	$2.50 - $5.49