XCEL BRANDS INC

Ticker: XELB CUSIP: 98400M200 Class: COM

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (4)

Potomac Capital Management, Inc.
Value ($000) $441 Shares 408,400
TWO SIGMA SECURITIES, LLC
Value ($000) $15 Shares 13,558
TWO SIGMA INVESTMENTS, LP
Value ($000) $29 Shares 26,742
UBS Group AG
Value ($000) $2 Shares 1,593

Increased Positions (5)

DRW Securities, LLC
Value ($000) $37 (+21.6%) Shares 34,434 (+98.1%)
MORGAN STANLEY
Value ($000) $11 (+776.6%) Shares 10,000 (+1328.6%)
Tower Research Capital LLC (TRC)
Value ($000) $3 (+383.4%) Shares 2,726 (+687.9%)
GEODE CAPITAL MANAGEMENT, LLC
Value ($000) $12 (-33.4%) Shares 11,234 (+8.6%)
BANK OF AMERICA CORP /DE/
Value ($000) $0 (-35.7%) Shares 25 (+4.2%)

Exited Positions (3)

CITADEL ADVISORS LLC
Value ($000) $88 Shares 49,841
Quinn Opportunity Partners LLC
Value ($000) $18 Shares 10,000
VANGUARD GROUP INC
Value ($000) $20 Shares 11,319