CUSIP 88634T493
TIDAL TRUST II
212 institutions · $163.5M total · 11,882,302 shares
| # | Manager | Shares | Value | % of Total | Period |
|---|---|---|---|---|---|
| 1 | Tidal Investments LLC | 1,985,435 | $27.7M | 16.70% | 2025-09-30 |
| 2 | IMC-Chicago, LLC | 1,252,170 | $17.5M | 10.53% | 2025-09-30 |
| 3 | CITADEL ADVISORS LLC | 797,600 | $11.1M | 6.71% | 2025-09-30 |
| 4 | OLD MISSION CAPITAL LLC | 775,139 | $10.8M | 6.52% | 2025-09-30 |
| 5 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 743,312 | $10.4M | 6.25% | 2025-09-30 |
| 6 | Private Advisor Group, LLC | 639,564 | $8.9M | 5.38% | 2025-09-30 |
| 7 | JANE STREET GROUP, LLC | 395,300 | $5.5M | 3.32% | 2025-09-30 |
| 8 | Jump Financial, LLC | 342,727 | $4.8M | 2.88% | 2025-09-30 |
| 9 | PNC Financial Services Group, Inc. | 301,300 | $4.2M | 2.53% | 2025-09-30 |
| 10 | GROUP ONE TRADING LLC | 285,340 | $4.0M | 2.40% | 2025-09-30 |
| 11 | Aspiring Ventures, LLC | 240,985 | $3.4M | 2.02% | 2025-09-30 |
| 12 | Federation des caisses Desjardins du Quebec | 203,300 | $2.8M | 1.71% | 2025-09-30 |
| 13 | Keebeck Wealth Management | 186,390 | $2.6M | 1.56% | 2025-09-30 |
| 14 | RENAISSANCE TECHNOLOGIES LLC | 169,100 | $2.4M | 1.42% | 2025-09-30 |
| 15 | PRELUDE CAPITAL MANAGEMENT, LLC | 150,000 | $2.1M | 1.26% | 2025-09-30 |
| 16 | TT Capital Management LLC | 83,000 | $1.8M | 0.69% | 2025-06-30 |
| 17 | MERCER GLOBAL ADVISORS INC /ADV | 126,147 | $1.8M | 1.06% | 2025-09-30 |
| 18 | Concurrent Investment Advisors, LLC | 111,926 | $1.6M | 0.94% | 2025-09-30 |
| 19 | Fiduciary Alliance LLC | 102,622 | $1.4M | 0.86% | 2025-09-30 |
| 20 | Merit Financial Group, LLC | 95,494 | $1.3M | 0.80% | 2025-09-30 |
| 21 | StoneX Group Inc. | 90,995 | $1.3M | 0.76% | 2025-09-30 |
| 22 | ENVESTNET ASSET MANAGEMENT INC | 87,125 | $1.2M | 0.73% | 2025-09-30 |
| 23 | Secure Asset Management, LLC | 84,009 | $1.2M | 0.70% | 2025-09-30 |
| 24 | NATIXIS | 69,400 | $960.5K | 0.58% | 2025-09-30 |
| 25 | Texas Capital Bank Wealth Management Services Inc | 42,952 | $952.2K | 0.36% | 2025-06-30 |
| 26 | Signal Advisors Wealth, LLC | 67,258 | $938.9K | 0.56% | 2025-09-30 |
| 27 | MARIPAU WEALTH MANAGEMENT LLC | 66,887 | $933.7K | 0.56% | 2025-09-30 |
| 28 | EVEXIA WEALTH LLC | 62,409 | $838.8K | 0.52% | 2025-09-30 |
| 29 | MORGAN STANLEY | 52,742 | $736.3K | 0.44% | 2025-09-30 |
| 30 | INSTRUMENTAL WEALTH, LLC | 71,049 | $728.3K | 0.59% | 2025-09-30 |
| 31 | Beacon Pointe Advisors, LLC | 31,081 | $689.1K | 0.26% | 2025-06-30 |
| 32 | Nicholas Wealth, LLC. | 30,417 | $674.3K | 0.25% | 2025-12-31 |
| 33 | Orion Porfolio Solutions, LLC | 46,150 | $644.3K | 0.38% | 2025-09-30 |
| 34 | REGATTA CAPITAL GROUP, LLC | 45,000 | $628.2K | 0.37% | 2025-09-30 |
| 35 | J.W. COLE ADVISORS, INC. | 42,095 | $587.6K | 0.35% | 2025-09-30 |
| 36 | Prospera Financial Services Inc | 41,145 | $574.4K | 0.34% | 2025-09-30 |
| 37 | Lifeworks Advisors, LLC | 39,409 | $550.1K | 0.33% | 2025-09-30 |
| 38 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 39,491 | $547.7K | 0.33% | 2025-09-30 |
| 39 | Truvestments Capital LLC | 36,730 | $512.7K | 0.30% | 2025-09-30 |
| 40 | Dynamic Advisor Solutions LLC | 36,727 | $512.7K | 0.30% | 2025-09-30 |
| 41 | Corient Private Wealth LLC | 22,286 | $494.1K | 0.18% | 2025-09-30 |
| 42 | WOLVERINE TRADING, LLC | 34,100 | $478.4K | 0.28% | 2025-09-30 |
| 43 | BANK OF AMERICA CORP /DE/ | 34,250 | $478.1K | 0.28% | 2025-12-31 |
| 44 | AVANTAX ADVISORY SERVICES, INC. | 21,263 | $471.4K | 0.17% | 2025-06-30 |
| 45 | Royal Bank of Canada | 33,497 | $468.0K | 0.28% | 2025-09-30 |
| 46 | Walleye Capital LLC | 20,100 | $445.6K | 0.16% | 2025-06-30 |
| 47 | Visionary Wealth Advisors | 31,710 | $442.7K | 0.26% | 2025-09-30 |
| 48 | Kapstone Financial Advisors LLC | 31,047 | $433.4K | 0.26% | 2025-09-30 |
| 49 | Lauer Wealth, LLC | 33,407 | $424.9K | 0.28% | 2025-09-30 |
| 50 | Arkadios Wealth Advisors | 29,957 | $418.2K | 0.25% | 2025-09-30 |
| 51 | Financial Partners Group, Inc | 29,342 | $409.6K | 0.24% | 2025-09-30 |
| 52 | Creative Planning | 26,624 | $371.7K | 0.22% | 2025-09-30 |
| 53 | Meridian Wealth Management, LLC | 26,364 | $368.0K | 0.22% | 2025-09-30 |
| 54 | Kestra Advisory Services, LLC | 26,323 | $367.5K | 0.22% | 2025-09-30 |
| 55 | Mariner, LLC | 25,707 | $358.9K | 0.21% | 2025-09-30 |
| 56 | BLUE SQUARE ASSET MANAGEMENT, LLC | 16,000 | $354.7K | 0.13% | 2025-06-30 |
| 57 | Redhawk Wealth Advisors, Inc. | 25,085 | $350.2K | 0.21% | 2025-09-30 |
| 58 | United Advisor Group, LLC | 24,654 | $344.2K | 0.20% | 2025-09-30 |
| 59 | HighTower Advisors, LLC | 23,194 | $323.8K | 0.19% | 2025-09-30 |
| 60 | INSIGNEO ADVISORY SERVICES, LLC | 22,809 | $318.4K | 0.19% | 2025-09-30 |
| 61 | SIH Partners, LLLP | 22,538 | $314.6K | 0.18% | 2025-09-30 |
| 62 | KILEY JUERGENS WEALTH MANAGEMENT, LLC | 22,180 | $309.6K | 0.18% | 2025-09-30 |
| 63 | CFO4Life Group, LLC | 21,614 | $301.7K | 0.18% | 2025-09-30 |
| 64 | ZEGA Investments, LLC | 21,227 | $296.3K | 0.17% | 2025-09-30 |
| 65 | PDS Planning, Inc | 13,269 | $294.2K | 0.11% | 2025-06-30 |
| 66 | KINGSWOOD WEALTH ADVISORS, LLC | 20,598 | $287.5K | 0.17% | 2025-09-30 |
| 67 | Ausdal Financial Partners, Inc. | 20,533 | $286.6K | 0.17% | 2025-09-30 |
| 68 | CreativeOne Wealth, LLC | 20,327 | $283.8K | 0.17% | 2025-09-30 |
| 69 | Rockefeller Capital Management L.P. | 20,297 | $283.4K | 0.17% | 2025-09-30 |
| 70 | Argent Advisors, Inc. | 20,000 | $279.2K | 0.16% | 2025-09-30 |
| 71 | Foundations Investment Advisors, LLC | 19,858 | $277.2K | 0.16% | 2025-09-30 |
| 72 | MML INVESTORS SERVICES, LLC | 19,852 | $277.1K | 0.16% | 2025-09-30 |
| 73 | Legacy Investment Solutions, LLC | 12,048 | $267.1K | 0.10% | 2025-06-30 |
| 74 | Cetera Investment Advisers | 18,558 | $259.1K | 0.15% | 2025-09-30 |
| 75 | KESTRA PRIVATE WEALTH SERVICES, LLC | 11,567 | $256.4K | 0.09% | 2025-06-30 |
| 76 | UBS Group AG | 18,000 | $251.3K | 0.15% | 2025-09-30 |
| 77 | Almanack Investment Partners, LLC. | 17,542 | $244.9K | 0.14% | 2025-09-30 |
| 78 | AE Wealth Management LLC | 17,409 | $243.0K | 0.14% | 2025-09-30 |
| 79 | Walkner Condon Financial Advisors LLC | 11,924 | $242.4K | 0.10% | 2025-03-31 |
| 80 | Wealth Management Associates, Inc. | 10,570 | $234.3K | 0.08% | 2025-06-30 |
| 81 | Finer Wealth Management, Inc. | 16,666 | $232.7K | 0.14% | 2025-09-30 |
| 82 | Coppell Advisory Solutions LLC | 9,469 | $230.4K | 0.07% | 2025-03-31 |
| 83 | OSAIC HOLDINGS, INC. | 9,954 | $220.7K | 0.08% | 2025-09-30 |
| 84 | CAPTRUST FINANCIAL ADVISORS | 15,742 | $219.8K | 0.13% | 2025-09-30 |
| 85 | HUB Investment Partners, LLC | 15,634 | $218.2K | 0.13% | 2025-09-30 |
| 86 | Sunbelt Securities, Inc. | 15,491 | $216.3K | 0.13% | 2025-09-30 |
| 87 | Schonfeld Strategic Advisors LLC | 9,700 | $215.0K | 0.08% | 2025-06-30 |
| 88 | Sowell Financial Services LLC | 15,389 | $214.8K | 0.12% | 2025-09-30 |
| 89 | Valeo Financial Advisors, LLC | 15,258 | $213.0K | 0.12% | 2025-09-30 |
| 90 | Capital Wealth Alliance, LLC | 15,126 | $211.2K | 0.12% | 2025-09-30 |
| 91 | Avior Wealth Management, LLC | 9,115 | $202.1K | 0.07% | 2025-06-30 |
| 92 | Belvedere Trading LLC | 14,000 | $195.4K | 0.11% | 2025-09-30 |
| 93 | Uniting Wealth Partners, LLC | 14,000 | $195.4K | 0.11% | 2025-09-30 |
| 94 | Precision Wealth Strategies, LLC | 13,906 | $194.1K | 0.11% | 2025-09-30 |
| 95 | Stonehearth Capital Management, LLC | 13,451 | $187.8K | 0.11% | 2025-09-30 |
| 96 | TWO SIGMA SECURITIES, LLC | 13,210 | $184.4K | 0.11% | 2025-09-30 |
| 97 | Cerity Partners LLC | 13,145 | $183.5K | 0.11% | 2025-09-30 |
| 98 | NewEdge Advisors, LLC | 12,908 | $180.2K | 0.10% | 2025-09-30 |
| 99 | LEGACY FINANCIAL GROUP, INC. | 12,850 | $179.4K | 0.10% | 2025-09-30 |
| 100 | Berger Financial Group, Inc | 12,674 | $176.9K | 0.10% | 2025-09-30 |
| 101 | HUNTINGTON NATIONAL BANK | 12,311 | $171.9K | 0.10% | 2025-09-30 |
| 102 | Trek Financial, LLC | 12,238 | $170.8K | 0.10% | 2025-09-30 |
| 103 | J.Safra Asset Management Corp | 12,206 | $170.4K | 0.10% | 2025-09-30 |
| 104 | Private Wealth Advisors, LLC | 12,124 | $169.3K | 0.10% | 2025-12-31 |
| 105 | SCOTIA CAPITAL INC. | 11,623 | $162.3K | 0.09% | 2025-09-30 |
| 106 | Wealthcare Advisory Partners LLC | 11,433 | $159.6K | 0.09% | 2025-09-30 |
| 107 | Tactive Advisors, LLC | 11,278 | $157.4K | 0.09% | 2025-09-30 |
| 108 | ORG Partners LLC | 11,073 | $154.6K | 0.09% | 2025-09-30 |
| 109 | TUCKER ASSET MANAGEMENT LLC | 6,895 | $152.9K | 0.05% | 2025-12-31 |
| 110 | Lido Advisors, LLC | 10,834 | $151.2K | 0.09% | 2025-09-30 |
| 111 | EVERETT HARRIS & CO /CA/ | 10,729 | $149.8K | 0.09% | 2025-09-30 |
| 112 | WINEBRENNER CAPITAL MANAGEMENT LLC | 10,500 | $146.6K | 0.08% | 2025-09-30 |
| 113 | Avestar Capital, LLC | 10,200 | $142.4K | 0.08% | 2025-09-30 |
| 114 | Lavaca Capital LLC | 9,500 | $132.6K | 0.07% | 2025-09-30 |
| 115 | PRINCIPAL SECURITIES, INC. | 8,362 | $116.7K | 0.07% | 2025-09-30 |
| 116 | Wilmington Savings Fund Society, FSB | 8,355 | $116.6K | 0.07% | 2025-09-30 |
| 117 | CoreCap Advisors, LLC | 7,251 | $101.2K | 0.06% | 2025-09-30 |
| 118 | Newbridge Financial Services Group, Inc. | 7,095 | $99.1K | 0.05% | 2025-09-30 |
| 119 | Beaird Harris Wealth Management, LLC | 6,233 | $87.0K | 0.05% | 2025-09-30 |
| 120 | US BANCORP \DE\ | 5,894 | $82.3K | 0.04% | 2025-09-30 |
| 121 | Steward Partners Investment Advisory, LLC | 5,698 | $79.5K | 0.04% | 2025-09-30 |
| 122 | FMR LLC | 5,395 | $75.3K | 0.04% | 2025-09-30 |
| 123 | SUMMIT SECURITIES GROUP LLC | 5,200 | $72.6K | 0.04% | 2025-09-30 |
| 124 | TORONTO DOMINION BANK | 5,000 | $70.0K | 0.04% | 2025-09-30 |
| 125 | AdvisorNet Financial, Inc | 4,898 | $68.4K | 0.04% | 2025-09-30 |
| 126 | SSA SWISS ADVISORS AG | 4,801 | $67.0K | 0.04% | 2025-12-31 |
| 127 | McIlrath & Eck, LLC | 4,542 | $63.4K | 0.03% | 2025-09-30 |
| 128 | Legacy Wealth Managment, LLC/ID | 3,924 | $54.8K | 0.03% | 2025-09-30 |
| 129 | Strategic Advocates LLC | 2,972 | $41.5K | 0.02% | 2025-09-30 |
| 130 | CIBC Private Wealth Group LLC | 2,960 | $41.3K | 0.02% | 2025-09-30 |
| 131 | Ameritas Advisory Services, LLC | 1,718 | $38.1K | 0.01% | 2025-06-30 |
| 132 | MAI Capital Management | 2,700 | $37.7K | 0.02% | 2025-09-30 |
| 133 | RAYMOND JAMES FINANCIAL INC | 1,644 | $36.4K | 0.01% | 2025-06-30 |
| 134 | Versant Capital Management, Inc | 2,218 | $31.0K | 0.01% | 2025-09-30 |
| 135 | Wealth Watch Advisors, INC | 2,116 | $29.5K | 0.01% | 2025-09-30 |
| 136 | VISION FINANCIAL MARKETS LLC | 1,540 | $21.5K | 0.01% | 2025-09-30 |
| 137 | Sound Income Strategies, LLC | 1,500 | $20.4K | 0.01% | 2025-09-30 |
| 138 | Allworth Financial LP | 1,457 | $20.3K | 0.01% | 2025-12-31 |
| 139 | Root Financial Partners, LLC | 1,251 | $17.5K | 0.01% | 2025-09-30 |
| 140 | BROWN BROTHERS HARRIMAN & CO | 1,250 | $17.4K | 0.01% | 2025-09-30 |
| 141 | Advisory Services Network, LLC | 1,200 | $16.8K | 0.01% | 2025-09-30 |
| 142 | Headlands Technologies LLC | 709 | $15.7K | 0.00% | 2025-06-30 |
| 143 | Spire Wealth Management | 1,001 | $14.0K | 0.00% | 2025-09-30 |
| 144 | SALEM INVESTMENT COUNSELORS INC | 1,000 | $14.0K | 0.00% | 2025-09-30 |
| 145 | Larson Financial Group LLC | 976 | $13.6K | 0.00% | 2025-09-30 |
| 146 | BlackRock, Inc. | 970 | $13.5K | 0.00% | 2025-09-30 |
| 147 | Future Financial Wealth Managment LLC | 958 | $13.4K | 0.00% | 2025-09-30 |
| 148 | Triumph Capital Management | 950 | $13.3K | 0.00% | 2025-09-30 |
| 149 | Legend Financial Advisors, Inc. | 500 | $11.1K | 0.00% | 2025-06-30 |
| 150 | Park Square Financial Group, LLC | 464 | $10.3K | 0.00% | 2025-06-30 |
| 151 | PITTENGER & ANDERSON INC | 680 | $9.5K | 0.00% | 2025-09-30 |
| 152 | Geneos Wealth Management Inc. | 656 | $9.2K | 0.00% | 2025-09-30 |
| 153 | Team Financial Group, LLC | 632 | $8.8K | 0.00% | 2025-09-30 |
| 154 | Global Retirement Partners, LLC | 576 | $8.0K | 0.00% | 2025-09-30 |
| 155 | Kiker Wealth Management, LLC | 355 | $7.9K | 0.00% | 2025-06-30 |
| 156 | Beacon Capital Management, LLC | 336 | $7.5K | 0.00% | 2025-06-30 |
| 157 | CREATIVE FINANCIAL DESIGNS INC /ADV | 316 | $7.0K | 0.00% | 2025-06-30 |
| 158 | CENTRAL TRUST Co | 500 | $7.0K | 0.00% | 2025-09-30 |
| 159 | Silicon Valley Capital Partners | 269 | $6.0K | 0.00% | 2025-09-30 |
| 160 | Arax Advisory Partners | 200 | $5.3K | 0.00% | 2025-09-30 |
| 161 | SIGNATUREFD, LLC | 370 | $5.2K | 0.00% | 2025-09-30 |
| 162 | Arlington Trust Co LLC | 220 | $4.9K | 0.00% | 2025-06-30 |
| 163 | EVERMAY WEALTH MANAGEMENT LLC | 202 | $4.5K | 0.00% | 2025-06-30 |
| 164 | FARMERS & MERCHANTS INVESTMENTS INC | 200 | $4.4K | 0.00% | 2025-06-30 |
| 165 | PROATHLETE WEALTH MANAGEMENT LLC | 188 | $4.2K | 0.00% | 2025-06-30 |
| 166 | SWAN Capital LLC | 283 | $4.0K | 0.00% | 2025-09-30 |
| 167 | MCF Advisors LLC | 266 | $3.7K | 0.00% | 2025-09-30 |
| 168 | Tower Research Capital LLC (TRC) | 253 | $3.5K | 0.00% | 2025-09-30 |
| 169 | HighMark Wealth Management LLC | 243 | $3.4K | 0.00% | 2025-09-30 |
| 170 | Kilter Group LLC | 150 | $3.3K | 0.00% | 2025-06-30 |
| 171 | HARBOUR INVESTMENTS, INC. | 204 | $2.8K | 0.00% | 2025-09-30 |
| 172 | SIMPLEX TRADING, LLC | 183,580 | $2.6K | 1.54% | 2025-09-30 |
| 173 | BANK OF MONTREAL /CAN/ | 180 | $2.5K | 0.00% | 2025-09-30 |
| 174 | THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. | 100 | $2.2K | 0.00% | 2025-06-30 |
| 175 | EverSource Wealth Advisors, LLC | 100 | $2.0K | 0.00% | 2025-03-31 |
| 176 | Premier Financial Group | 67 | $2.0K | 0.00% | 2025-12-31 |
| 177 | N.E.W. Advisory Services LLC | 88 | $2.0K | 0.00% | 2025-06-30 |
| 178 | Strategic Investment Solutions, Inc. /IL | 139 | $1.9K | 0.00% | 2025-12-31 |
| 179 | Hilltop National Bank | 87 | $1.9K | 0.00% | 2025-06-30 |
| 180 | DUNCKER STREETT & CO INC | 100 | $1.4K | 0.00% | 2025-09-30 |
| 181 | Investment Research & Advisory Group, Inc. | 50 | $1.1K | 0.00% | 2025-06-30 |
| 182 | Parallel Advisors, LLC | 73 | $1.0K | 0.00% | 2025-09-30 |
| 183 | Continuum Advisory, LLC | 48 | $976 | 0.00% | 2025-03-31 |
| 184 | COMMONWEALTH EQUITY SERVICES, LLC | 69,230 | $966 | 0.58% | 2025-09-30 |
| 185 | HOLLENCREST CAPITAL MANAGEMENT | 65 | $907 | 0.00% | 2025-09-30 |
| 186 | Operose Advisors LLC | 50 | $698 | 0.00% | 2025-09-30 |
| 187 | Darwin Wealth Management, LLC | 40 | $558 | 0.00% | 2025-09-30 |
| 188 | Cornerstone Planning Group LLC | 18 | $556 | 0.00% | 2025-09-30 |
| 189 | Tradewinds Capital Management, LLC | 38 | $531 | 0.00% | 2025-09-30 |
| 190 | Farther Finance Advisors, LLC | 35 | $487 | 0.00% | 2025-09-30 |
| 191 | WELLS FARGO & COMPANY/MN | 28 | $383 | 0.00% | 2025-09-30 |
| 192 | HRT FINANCIAL LP | 26,740 | $373 | 0.22% | 2025-09-30 |
| 193 | Frazier Financial Advisors, LLC | 25 | $349 | 0.00% | 2025-09-30 |
| 194 | FNY Investment Advisers, LLC | 22,800 | $318 | 0.19% | 2025-12-31 |
| 195 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 21 | $288 | 0.00% | 2025-12-31 |
| 196 | M Holdings Securities, Inc. | 12,343 | $268 | 0.10% | 2025-06-30 |
| 197 | Riggs Asset Managment Co. Inc. | 11 | $244 | 0.00% | 2025-06-30 |
| 198 | WEDBUSH SECURITIES INC | 15,853 | $221 | 0.13% | 2025-09-30 |
| 199 | Arete Wealth Advisors, LLC | 12,147 | $170 | 0.10% | 2025-09-30 |
| 200 | Cambridge Investment Research Advisors, Inc. | 11,596 | $162 | 0.09% | 2025-09-30 |
| 201 | INGALLS & SNYDER LLC | 10,950 | $153 | 0.09% | 2025-09-30 |
| 202 | New Millennium Group LLC | 8 | $112 | 0.00% | 2025-09-30 |
| 203 | Hemington Wealth Management | 4,189 | $92 | 0.03% | 2025-06-30 |
| 204 | PrairieView Partners, LLC | 412 | $9 | 0.00% | 2025-06-30 |
| 205 | Ulland Investment Advisors, LLC | 657 | $9 | 0.00% | 2025-09-30 |
| 206 | CWM, LLC | 111 | $2 | 0.00% | 2025-09-30 |
| 207 | Avion Wealth | 200 | $2 | 0.00% | 2025-09-30 |
| 208 | JPMORGAN CHASE & CO | 0 | $2 | 0.00% | 2025-09-30 |
| 209 | PIN OAK INVESTMENT ADVISORS INC | 50 | $1 | 0.00% | 2025-06-30 |
| 210 | HANTZ FINANCIAL SERVICES, INC. | 85 | $1 | 0.00% | 2025-09-30 |
| 211 | CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | $0 | 0.00% | 2025-06-30 |
| 212 | Roble, Belko & Company, Inc | 3 | $0 | 0.00% | 2025-12-31 |