WEBULL CORP

Ticker: BULLW CUSIP: G9572D111 Class: *W EXP 04/10/203

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (2)

Fort Baker Capital Management LP
Value ($000) $172 Shares 60,208
UBS Group AG
Value ($000) $3 Shares 1,169

Increased Positions (1)

Caption Management, LLC
Value ($000) $1,124 (+4494.0%) Shares 392,212 (+9649.2%)

Decreased Positions (7)

Skaana Management L.P.
Value ($000) $3,750 (-63.7%) Shares 1,308,903 (-23.0%)
Greenland Capital Management LP
Value ($000) $3,244 (-59.5%) Shares 1,138,174 (-28.2%)
BOOTHBAY FUND MANAGEMENT, LLC
Value ($000) $3,725 (-50.0%) Shares 479,450 (-4.8%)
ARISTEIA CAPITAL, L.L.C.
Value ($000) $2,077 (-54.7%) Shares 716,194 (-5.6%)
WHITEBOX ADVISORS LLC
Value ($000) $184 (-66.1%) Shares 64,397 (-28.0%)
Clear Street Group Inc.
Value ($000) $244 (-62.0%) Shares 85,049 (-19.5%)
OSAIC HOLDINGS, INC.
Value ($000) $4 (-82.9%) Shares 1,500 (-66.7%)

Exited Positions (6)

ZAZOVE ASSOCIATES LLC
Value ($000) $881 Shares 145,605
METEORA CAPITAL, LLC
Value ($000) $456 Shares 75,000
Sculptor Capital LP
Value ($000) $723 Shares 119,522
CSS LLC/IL
Value ($000) $137 Shares 22,559
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $126 Shares 20,843
PRINCIPAL SECURITIES, INC.
Value ($000) $3 Shares 500