Vault-13

TIDAL TR II

YIELDMAX BITCOIN · CUSIP 88636J428

15 institutional holders -1 vs Q1 2025
3,641,5153.6m shares reported held*
$38.5mreported value*
3 new 4 added 4 reduced 4 sold out net bought ≈ $4.2m (+394.9k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $10.58. Options: 1 managers hold calls ($227.5k notional), 1 hold puts ($114.3k).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01020Q2 24: 3Q3 24: 11Q4 24: 13Q1 25: 16Q2 25: 1515Q2 24Q3 24Q4 24Q1 25Q2 25
Numbers
QuarterHolders
Q2 20243
Q3 202411
Q4 202413
Q1 202516
Q2 202515

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
10010Q3 24: 10 bought or addedQ3 24: 0 cut or sold outQ3 24Q4 24: 9 bought or addedQ4 24: 5 cut or sold outQ4 24Q1 25: 10 bought or addedQ1 25: 5 cut or sold outQ1 25Q2 25: 7 bought or addedQ2 25: 8 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2024100
Q4 202495
Q1 2025105
Q2 202578

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300kQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $85.4kQ4 24 puts: $53.2kQ4 24P/C 0.62Q1 25 calls: $281.5kQ1 25 puts: $74.6kQ1 25P/C 0.26Q2 25 calls: $227.5kQ2 25 puts: $114.3kQ2 25P/C 0.50
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$85.4k$53.2k0.62
Q1 2025$281.5k$74.6k0.26
Q2 2025$227.5k$114.3k0.50

Biggest buyers

Tidal Investments LLC Added +417,900+417.9k
JANE STREET GROUP, LLC Added +42,423+42.4k
HRT FINANCIAL LP New +15,003+15.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +7,361+7.4k
Allworth Financial LP New +3,000+3.0k
HARBOUR INVESTMENTS, INC. Added +150+150
EVERMAY WEALTH MANAGEMENT LLC New +94+94

Biggest sellers

OLD MISSION CAPITAL LLC Reduced -70,348-70.3k
GROUP ONE TRADING LLC Sold out -13,536-13.5k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -6,600-6.6k
CoreCap Advisors, LLC Sold out -211-211
PIN OAK INVESTMENT ADVISORS INC Sold out -190-190
OSAIC HOLDINGS, INC. Sold out -100-100
SIMPLEX TRADING, LLC Reduced -48-48
WELLS FARGO & COMPANY/MN Reduced -1-1

Biggest calls

CITADEL ADVISORS LLC Reduced $227.5k21.5k shares

Biggest puts

CITADEL ADVISORS LLC Added $114.3k10.8k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Tidal Investments LLC 0.23% of their portfolio Milwaukee, WI 3,387,2883.4m $35.8m $35.8m 0.23% Added +417.9k +417,900
2 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 88,25188.3k $933.7k $933.7k 0.00% Added +42.4k +42,423
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 69,57369.6k $736.1k $736.1k 0.00% Added +7.4k +7,361
4 OLD MISSION CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 48,83548.8k $516.7k $516.7k 0.01% Reduced -70.3k -70,348
5 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 18,35018.4k $196.3k $196.3k 0.00% Reduced -6.6k -6,600
6 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 15,00315.0k $158.0k $158.0k 0.00% New
7 Main Street Financial Solutions, LLC 0.01% of their portfolio NEWTOWN, PA 10,00010.0k $105.8k $105.8k 0.01% Unchanged
8 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 3,0003.0k $31.7k $31.7k 0.00% New
9 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 700700 $7.4k $7.4k 0.00% Added +150 +150
10 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 354354 $3.7k $3.7k 0.00% Unchanged
11 EVERMAY WEALTH MANAGEMENT LLC 0.00% of their portfolio ARLINGTON, VA 9494 $992 $992 0.00% New
12 TUCKER ASSET MANAGEMENT LLC 0.00% of their portfolio LITTLETON, CO 4242 $444 $444 0.00% Unchanged
13 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 2525 $0 $0 0.00% Reduced -48 -48
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 00 $3 $3 0.00% Reduced -1 -1
15 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged