HBK INVESTMENTS L P Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EXAS	EXACT SCIENCES CORP	7,646,637	$776,592	6.1%	$80.31	0.0%	COM	30063P105
HOLX	HOLOGIC INC	8,400,000	$625,716	4.9%	$73.07	0.0%	COM	436440101
CFLT	CONFLUENT INC	15,000,000	$453,600	3.6%	$24.55	0.0%	CLASS A COM	20717M103
EA	ELECTRONIC ARTS INC	1,909,982	$390,267	3.1%	$201.71	0.0%	COM	285512109
CMA	COMERICA INC	3,975,000	$345,547	2.7%	$79.98	0.0%	COM	200340107
RNA	AVIDITY BIOSCIENCES INC	4,365,000	$314,847	2.5%	$64.59	0.0%	COM	05370A108
—	CIDARA THERAPEUTICS INC	1,260,000	$278,321	2.2%	$220.89	—	COM NEW	171757206
FOLD	AMICUS THERAPEUTICS INC	15,250,000	$217,160	1.7%	$9.82	0.0%	COM	03152W109
QQQ	INVESCO QQQ TR	335,400	$206,040	1.6%	—	—	CALL	46090E103
—	SYNOVUS FINL CORP	3,792,518	$189,498	1.5%	$49.97	—	COM NEW	87161C501
BHF	BRIGHTHOUSE FINL INC	2,100,000	$136,059	1.1%	$58.76	0.0%	COM	10922N103
TXNM	TXNM ENERGY INC	1,697,244	$99,934	0.8%	$57.71	0.0%	COM	69349H107
—	CSG SYS INTL INC	50,800,000	$60,071	0.5%	$1.18	—	NOTE 3.875% 9/1	126349AH2
KVUE	KENVUE INC	2,535,001	$43,729	0.3%	$16.26	0.0%	COM	49177J102
—	STRATEGY INC	47,396,000	$38,960	0.3%	$0.82	—	NOTE 12/0	594972AS0
—	COINBASE GLOBAL INC	37,200,000	$38,159	0.3%	$1.03	—	NOTE 0.250% 4/0	19260QAF4
—	ALIGNMENT HEALTHCARE INC	24,100,000	$36,578	0.3%	$1.52	—	NOTE 4.250%11/1	01625VAB0
SIRI	SIRIUSXM HOLDINGS INC	1,685,004	$33,692	0.3%	$21.49	0.0%	COMMON STOCK	829933100
WBD	WARNER BROS DISCOVERY INC	1,086,900	$31,324	0.2%	$20.81	+12.3%	PUT	934423104
OMF	ONEMAIN HLDGS INC	453,800	$30,654	0.2%	—	—	PUT	68268W103
—	BLACKLINE INC	18,505,000	$19,591	0.2%	$1.06	—	NOTE 1.000% 6/0	09239BAF6
XLF	SELECT SECTOR SPDR TR	255,300	$13,983	0.1%	—	—	PUT	81369Y605
PSKY	PARAMOUNT SKYDANCE CORP	1,000,100	$13,401	0.1%	$15.56	0.0%	COM CL B	69932A204
—	SILVERCORP METALS INC	6,500,000	$13,292	0.1%	$2.04	—	NOTE 4.750%12/1	82835PAB9
CHTR	CHARTER COMMUNICATIONS INC N	49,500	$10,333	0.1%	$224.96	0.0%	PUT	16119P108
MDLN	MEDLINE INC	235,000	$9,870	0.1%	$42.23	0.0%	COM CL A	58507V107
CWAN	CLEARWATER ANALYTICS HLDGS I	373,303	$9,004	0.1%	$20.03	0.0%	CL A	185123106
SATS	ECHOSTAR CORP	75,800	$8,239	0.1%	—	—	PUT	278768106
MSTR	STRATEGY INC	51,564	$7,835	0.1%	$230.22	0.0%	CL A NEW	594972408
—	ARES MANAGEMENT CORPORATION	150,000	$7,542	0.1%	$50.28	—	6.75 SE B PFD	03990B309
DDOG	DATADOG INC	50,000	$6,800	0.1%	$158.02	0.0%	CL A COM	23804L103
CRWV	COREWEAVE INC	93,800	$6,717	0.1%	$101.39	0.0%	COM CL A	21873S108
CRWV	COREWEAVE INC	93,800	$6,717	0.1%	$101.39	0.0%	PUT	21873S108
CHTR	CHARTER COMMUNICATIONS INC N	28,590	$5,968	0.0%	$224.96	0.0%	CL A	16119P108
OPEN	OPENDOOR TECHNOLOGIES INC	1,015,000	$5,917	0.0%	—	—	PUT	683712103
—	HERBALIFE LTD	5,250,000	$5,711	0.0%	$1.09	—	NOTE 4.250% 6/1	42703MAF0
RSP	INVESCO EXCHANGE TRADED FD T	29,400	$5,632	0.0%	—	—	PUT	46137V357
IWD	ISHARES TR	26,600	$5,595	0.0%	—	—	PUT	464287598
BOX	BOX INC	186,766	$5,586	0.0%	$31.37	0.0%	CL A	10316T104
CC	CHEMOURS CO	439,051	$5,176	0.0%	$12.79	0.0%	COM	163851108
RIVN	RIVIAN AUTOMOTIVE INC	262,000	$5,164	0.0%	—	—	PUT	76954A103
ALUB/U	ALUSSA ENERGY ACQUISITION CO	500,000	$5,050	0.0%	$10.10	—	UNIT 99/99/9999	G0233J126
ADACU	AMERICAN DRIVE ACQUISITION C	500,000	$4,985	0.0%	$9.97	—	UNIT 12/04/2030	G0R91M121
DMII	DRUGS MADE IN AMER ACQ II CO	500,000	$4,950	0.0%	$9.89	0.0%	USD ORD SHS	G2851K104
KBONU	KARBON CAP PARTNERS CORP	400,000	$4,026	0.0%	$10.06	—	UNIT 12/11/2030	G5225W126
CHKP	CHECK POINT SOFTWARE TECH LT	20,680	$3,837	0.0%	$193.34	0.0%	ORD	M22465104
SBXE/U	SILVERBOX CORP V	350,000	$3,521	0.0%	$10.06	—	UNIT 99/99/9999	G8148S123
CTEV	CLARITEV CORPORATION	75,000	$3,206	0.0%	$50.88	0.0%	CL A NEW	62548M209
CCXIU	CHURCHILL CAP CORP XI	300,000	$3,063	0.0%	$10.21	—	UNIT 12/10/2030	G2131A124
IMSR	TERRESTRIAL ENERGY INC	500,000	$3,055	0.0%	$6.11	—	COM SHS	881454102
FCRS	FUTURECREST ACQUISITION CORP	299,916	$3,029	0.0%	$10.11	0.0%	CL A ORD SHS	G3730U107
HUN	HUNTSMAN CORP	300,000	$3,000	0.0%	—	—	PUT	447011107
BETA	BETA TECHNOLOGIES INC	100,000	$2,821	0.0%	$29.84	0.0%	COM SHS CL A	086921103
—	NOVANTA INC	50,000	$2,728	0.0%	$54.57	—	UNIT 11/01/2028	67000B203
PFLT	PENNANTPARK FLOATING RATE CA	292,700	$2,713	0.0%	—	—	PUT	70806A106
TTEK	TETRA TECH INC NEW	76,400	$2,562	0.0%	$33.82	0.0%	COM	88162G103
HVMC	HIGHVIEW MERGER CORP	250,000	$2,500	0.0%	$10.00	0.0%	ORD SH CL A	G4569C101
MFIC	MIDCAP FINANCIAL INVSTMNT CO	205,500	$2,351	0.0%	—	—	PUT	03761U502
LMRI	LUMEXA IMAGING HOLDINGS INC	120,000	$2,220	0.0%	$18.05	0.0%	COM	550249106
BOX	BOX INC	72,500	$2,168	0.0%	$31.37	0.0%	PUT	10316T104
BOX	BOX INC	72,500	$2,168	0.0%	$31.37	0.0%	CALL	10316T104
SAC/U	SAFEGUARD ACQUISITION CORP	200,000	$2,017	0.0%	$10.09	—	UNIT 99/99/9999	G77676123
BCSS	BAIN CAP GSS INVT CORP	200,005	$2,016	0.0%	$10.08	0.0%	ORD CL A	G0R78B106
GPACU	GENERAL PURP ACQUISITION COR	200,000	$2,002	0.0%	$10.01	—	UNIT 12/03/2030	G3810N122
SOFI	SOFI TECHNOLOGIES INC	75,000	$1,964	0.0%	$27.87	0.0%	COM	83406F102
XZO	EXZEO GROUP INC	80,000	$1,940	0.0%	$19.02	0.0%	COM SHS	30234F101
ANDG	ANDERSEN GROUP INC	74,500	$1,932	0.0%	$25.14	0.0%	CL A	033853102
ETHA	ISHARES ETHEREUM TR	83,300	$1,868	0.0%	—	—	PUT	46438R105
ASTS	AST SPACEMOBILE INC	25,546	$1,855	0.0%	$71.36	0.0%	COM CL A	00217D100
CDNL	CARDINAL INFRASTRUCTURE GROU	68,995	$1,668	0.0%	$24.69	0.0%	CL A	14154A102
CEPV	CANTOR EQUITY PARTNERS V INC	150,000	$1,538	0.0%	$10.25	0.0%	SHS CL A S	G1828S109
KRSP	RICE ACQUISITION CORP 3	149,619	$1,534	0.0%	$10.36	0.0%	ORD SHS CL A	G7553X106
PENN	PENN ENTERTAINMENT INC	100,000	$1,475	0.0%	$15.60	0.0%	CALL	707569109
STSS	SHARPS TECHNOLOGY INC	769,231	$1,448	0.0%	$3.86	0.0%	COM	82003F309
MSDL	MORGAN STANLEY DIRECT LENDIN	77,400	$1,276	0.0%	—	—	PUT	61774A103
LWLG	LIGHTWAVE LOGIC INC	350,000	$1,134	0.0%	$4.44	0.0%	COM	532275104
TTEK	TETRA TECH INC NEW	31,900	$1,070	0.0%	$33.82	0.0%	PUT	88162G103
TTEK	TETRA TECH INC NEW	31,900	$1,070	0.0%	$33.82	0.0%	CALL	88162G103
PENN	PENN ENTERTAINMENT INC	71,467	$1,054	0.0%	$15.60	0.0%	COM	707569109
DDOG	DATADOG INC	6,700	$911	0.0%	$158.02	0.0%	PUT	23804L103
CHTR	CHARTER COMMUNICATIONS INC N	4,100	$856	0.0%	$224.96	0.0%	CALL	16119P108
SLRC	SLR INVESTMENT CORP	54,600	$844	0.0%	—	—	PUT	83413U100
DJT	TRUMP MEDIA & TECHNOLOGY GRO	60,600	$802	0.0%	$17.74	-23.1%	CALL	25400Q105
FUN	SIX FLAGS ENTERTAINMENT CORP	40,000	$614	0.0%	$18.08	0.0%	COM	83001C108
MDU	MDU RES GROUP INC	30,000	$586	0.0%	$19.57	0.0%	COM	552690109
GME/WS	GAMESTOP CORP NEW	123,240	$371	0.0%	—	—	PUT	36467W117
IMSR	TERRESTRIAL ENERGY INC	50,000	$306	0.0%	$6.11	—	PUT	881454102
VOYG	VOYAGER TECHNOLOGIES INC	11,500	$301	0.0%	$27.13	0.0%	COM CL A	92892B103
FRPT	FRESHPET INC	4,500	$274	0.0%	—	—	PUT	358039105
ASTS	AST SPACEMOBILE INC	3,500	$254	0.0%	$71.36	0.0%	CALL	00217D100
ASTS	AST SPACEMOBILE INC	3,000	$218	0.0%	$71.36	0.0%	PUT	00217D100
FRPT	FRESHPET INC	3,500	$213	0.0%	—	—	CALL	358039105
UAL	UNITED AIRLS HLDGS INC	1,900	$212	0.0%	—	—	PUT	910047109
CGBD	CARLYLE SECURED LENDING INC	16,900	$211	0.0%	—	—	PUT	872280102
GME/WS	GAMESTOP CORP NEW	27,290	$82	0.0%	—	—	CALL	36467W117
DMIIR	DRUGS MADE IN AMER ACQ II CO	500,000	$70	0.0%	$0.14	—	RIGHT 09/16/2030	G2851K112
FCRS/WS	FUTURECREST ACQUISITION CORP	75,001	$55	0.0%	$0.73	—	*W EXP 09/30/203	G3730U115
HVMCW	HIGHVIEW MERGER CORP	125,000	$34	0.0%	$0.27	—	*W EXP 07/24/203	G4569C119
BCSS/WS	BAIN CAP GSS INVT CORP	40,001	$26	0.0%	$0.65	—	*W EXP 01/01/202	G0R78B114
KRSP/WS	RICE ACQUISITION CORP 3	25,000	$20	0.0%	$0.80	—	*W EXP 99/99/999	G7553X114
OPENW	OPENDOOR TECHNOLOGIES INC	7,950	$7	0.0%	—	—	PUT	683712129
OPENL	OPENDOOR TECHNOLOGIES INC	7,950	$4	0.0%	—	—	PUT	683712137
OPENZ	OPENDOOR TECHNOLOGIES INC	7,950	$3	0.0%	—	—	PUT	683712145

Increased Positions (38)

NVDA NVIDIA CORPORATION 8.7%

Value ($000) $1,107,717 (+288.2%) Shares 5,939,500 (+288.4%) Est. Cost — Unrealized —

— DAYFORCE INC 4.3%

Value ($000) $542,906 (+83.3%) Shares 7,850,000 (+82.6%) Est. Cost $65.22 Unrealized +5.5%

NSC NORFOLK SOUTHN CORP 4.8%

Value ($000) $614,974 (+61.2%) Shares 2,130,000 (+67.7%) Est. Cost $281.12 Unrealized +2.7%

WBD WARNER BROS DISCOVERY INC 2.0%

Value ($000) $257,195 (+652.5%) Shares 8,924,170 (+410.0%) Est. Cost $20.81 Unrealized +12.3%

— FRONTIER COMMUNICATIONS PARE 2.3%

Value ($000) $296,946 (+125.5%) Shares 7,800,000 (+121.3%) Est. Cost $37.74 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 1.4%

Value ($000) $172,613 (+408.1%) Shares 3,476,600 (+565.3%) Est. Cost — Unrealized —

AL AIR LEASE CORP 2.3%

Value ($000) $295,603 (+68.9%) Shares 4,602,260 (+67.4%) Est. Cost $61.13 Unrealized +4.2%

SPY SPDR S&P 500 ETF TR 4.5%

Value ($000) $573,767 (+26.4%) Shares 841,400 (+23.5%) Est. Cost $674.29 Unrealized —

SPY SPDR S&P 500 ETF TR 2.3%

Value ($000) $287,088 (+38.7%) Shares 421,000 (+35.5%) Est. Cost $674.29 Unrealized —

LBRDK LIBERTY BROADBAND CORP 2.3%

Value ($000) $287,162 (-20.4%) Shares 5,908,691 (+4.1%) Est. Cost $68.34 Unrealized -23.9%

— CYBERARK SOFTWARE LTD 8.6%

Value ($000) $1,092,847 (-3.7%) Shares 2,450,000 (+4.3%) Est. Cost $481.64 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.4%

Value ($000) $44,653 (+496.5%) Shares 50,800 (+440.4%) Est. Cost — Unrealized —

AHL ASPEN INSURANCE HOLDINGS LTD 1.3%

Value ($000) $166,950 (+25.9%) Shares 4,500,000 (+24.5%) Est. Cost $33.66 Unrealized +9.5%

TSLA TESLA INC 0.4%

Value ($000) $50,504 (+186.1%) Shares 112,300 (+182.9%) Est. Cost — Unrealized —

WBD WARNER BROS DISCOVERY INC 0.2%

Value ($000) $24,549 (+202.9%) Shares 851,800 (+105.3%) Est. Cost $20.81 Unrealized +12.3%

— RIVIAN AUTOMOTIVE INC 0.3%

Value ($000) $38,171 (+51.1%) Shares 34,000,000 (+23.6%) Est. Cost $0.95 Unrealized —

LGN LEGENCE CORP 0.2%

Value ($000) $19,368 (+141.8%) Shares 450,000 (+73.1%) Est. Cost $34.88 Unrealized +13.3%

ARCC ARES CAPITAL CORP 0.1%

Value ($000) $14,161 (+362.6%) Shares 700,000 (+366.7%) Est. Cost — Unrealized —

— HEWLETT PACKARD ENTERPRISE C 0.1%

Value ($000) $13,236 (+94.2%) Shares 200,000 (+100.0%) Est. Cost $63.92 Unrealized —

— VERTEX INC 0.2%

Value ($000) $21,351 (+39.7%) Shares 22,500,000 (+50.0%) Est. Cost $1.07 Unrealized —

QQQ INVESCO QQQ TR 1.2%

Value ($000) $149,953 (+3.6%) Shares 244,100 (+1.3%) Est. Cost — Unrealized —

GME GAMESTOP CORP NEW 0.1%

Value ($000) $6,758 (+329.2%) Shares 336,553 (+483.1%) Est. Cost $22.92 Unrealized -2.1%

SPYM SPDR SERIES TRUST 0.1%

Value ($000) $8,446 (+96.5%) Shares 105,288 (+91.9%) Est. Cost $79.24 Unrealized —

BTSG BRIGHTSPRING HEALTH SVCS INC 0.1%

Value ($000) $11,235 (+52.0%) Shares 300,000 (+20.0%) Est. Cost $15.05 Unrealized +122.8%

— FRESHPET INC 0.3%

Value ($000) $31,868 (+12.8%) Shares 27,200,000 (+8.8%) Est. Cost $1.39 Unrealized —

BXSL BLACKSTONE SECD LENDING FD 0.0%

Value ($000) $6,156 (+136.1%) Shares 233,800 (+133.8%) Est. Cost — Unrealized —

— NEXTERA ENERGY INC 0.1%

Value ($000) $7,708 (+54.1%) Shares 150,000 (+50.0%) Est. Cost $49.72 Unrealized —

UBER UBER TECHNOLOGIES INC 0.0%

Value ($000) $5,229 (+22.7%) Shares 64,000 (+47.1%) Est. Cost $71.61 Unrealized +25.7%

GME GAMESTOP CORP NEW 0.1%

Value ($000) $9,100 (+9.2%) Shares 453,200 (+48.3%) Est. Cost $22.92 Unrealized -2.1%

NIO NIO INC 0.0%

Value ($000) $1,788 (-29.9%) Shares 350,648 (+4.7%) Est. Cost $7.51 Unrealized —

SPY SPDR S&P 500 ETF TR 0.0%

Value ($000) $980 (+111.0%) Shares 1,437 (+106.2%) Est. Cost $674.29 Unrealized —

CVLT COMMVAULT SYS INC 0.0%

Value ($000) $2,470 (-9.2%) Shares 19,700 (+36.8%) Est. Cost $169.64 Unrealized -17.1%

SLG SL GREEN RLTY CORP 0.0%

Value ($000) $1,471 (-14.4%) Shares 32,074 (+11.6%) Est. Cost $58.36 Unrealized —

ACHR ARCHER AVIATION INC 0.1%

Value ($000) $9,400 (-1.9%) Shares 1,250,000 (+25.0%) Est. Cost $4.94 Unrealized +90.6%

GRAB GRAB HOLDINGS LIMITED 0.0%

Value ($000) $923 (-15.0%) Shares 185,000 (+2.5%) Est. Cost — Unrealized —

UBER UBER TECHNOLOGIES INC 0.0%

Value ($000) $5,229 (+2.5%) Shares 64,000 (+22.8%) Est. Cost $71.61 Unrealized +25.7%

GRAB GRAB HOLDINGS LIMITED 0.0%

Value ($000) $1,173 (+7.9%) Shares 235,000 (+30.1%) Est. Cost — Unrealized —

HNGE HINGE HEALTH INC 0.0%

Value ($000) $3,252 (+1.9%) Shares 70,000 (+7.7%) Est. Cost $45.22 Unrealized +6.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	5,939,500 (+288.4%)	$1,107,717 (+288.2%)	8.7%	—	—	PUT	67066G104
—	DAYFORCE INC	7,850,000 (+82.6%)	$542,906 (+83.3%)	4.3%	$65.22	+5.5%	COM	15677J108
NSC	NORFOLK SOUTHN CORP	2,130,000 (+67.7%)	$614,974 (+61.2%)	4.8%	$281.12	+2.7%	COM	655844108
WBD	WARNER BROS DISCOVERY INC	8,924,170 (+410.0%)	$257,195 (+652.5%)	2.0%	$20.81	+12.3%	COM SER A	934423104
—	FRONTIER COMMUNICATIONS PARE	7,800,000 (+121.3%)	$296,946 (+125.5%)	2.3%	$37.74	—	COM	35909D109
IBIT	ISHARES BITCOIN TRUST ETF	3,476,600 (+565.3%)	$172,613 (+408.1%)	1.4%	—	—	PUT	46438F101
AL	AIR LEASE CORP	4,602,260 (+67.4%)	$295,603 (+68.9%)	2.3%	$61.13	+4.2%	CL A	00912X302
SPY	SPDR S&P 500 ETF TR	841,400 (+23.5%)	$573,767 (+26.4%)	4.5%	$674.29	—	CALL	78462F103
SPY	SPDR S&P 500 ETF TR	421,000 (+35.5%)	$287,088 (+38.7%)	2.3%	$674.29	—	PUT	78462F103
LBRDK	LIBERTY BROADBAND CORP	5,908,691 (+4.1%)	$287,162 (-20.4%)	2.3%	$68.34	-23.9%	COM SER C	530307305
—	CYBERARK SOFTWARE LTD	2,450,000 (+4.3%)	$1,092,847 (-3.7%)	8.6%	$481.64	—	SHS	M2682V108
GS	GOLDMAN SACHS GROUP INC	50,800 (+440.4%)	$44,653 (+496.5%)	0.4%	—	—	PUT	38141G104
AHL	ASPEN INSURANCE HOLDINGS LTD	4,500,000 (+24.5%)	$166,950 (+25.9%)	1.3%	$33.66	+9.5%	ORD SHS CL A	G05384501
TSLA	TESLA INC	112,300 (+182.9%)	$50,504 (+186.1%)	0.4%	—	—	PUT	88160R101
WBD	WARNER BROS DISCOVERY INC	851,800 (+105.3%)	$24,549 (+202.9%)	0.2%	$20.81	+12.3%	CALL	934423104
—	RIVIAN AUTOMOTIVE INC	34,000,000 (+23.6%)	$38,171 (+51.1%)	0.3%	$0.95	—	NOTE 3.625%10/1	76954AAD5
LGN	LEGENCE CORP	450,000 (+73.1%)	$19,368 (+141.8%)	0.2%	$34.88	+13.3%	CL A	52476L109
ARCC	ARES CAPITAL CORP	700,000 (+366.7%)	$14,161 (+362.6%)	0.1%	—	—	PUT	04010L103
—	HEWLETT PACKARD ENTERPRISE C	200,000 (+100.0%)	$13,236 (+94.2%)	0.1%	$63.92	—	7.625 MAND CONV	42824C208
—	VERTEX INC	22,500,000 (+50.0%)	$21,351 (+39.7%)	0.2%	$1.07	—	NOTE 0.750% 5/0	92538JAB2
QQQ	INVESCO QQQ TR	244,100 (+1.3%)	$149,953 (+3.6%)	1.2%	—	—	PUT	46090E103
GME	GAMESTOP CORP NEW	336,553 (+483.1%)	$6,758 (+329.2%)	0.1%	$22.92	-2.1%	CL A	36467W109
SPYM	SPDR SERIES TRUST	105,288 (+91.9%)	$8,446 (+96.5%)	0.1%	$79.24	—	STATE STREET SPD	78464A854
BTSG	BRIGHTSPRING HEALTH SVCS INC	300,000 (+20.0%)	$11,235 (+52.0%)	0.1%	$15.05	+122.8%	COM	10950A106
—	FRESHPET INC	27,200,000 (+8.8%)	$31,868 (+12.8%)	0.3%	$1.39	—	NOTE 3.000% 4/0	358039AB1
BXSL	BLACKSTONE SECD LENDING FD	233,800 (+133.8%)	$6,156 (+136.1%)	0.0%	—	—	PUT	09261X102
—	NEXTERA ENERGY INC	150,000 (+50.0%)	$7,708 (+54.1%)	0.1%	$49.72	—	UNIT 06/01/2027	65339F663
UBER	UBER TECHNOLOGIES INC	64,000 (+47.1%)	$5,229 (+22.7%)	0.0%	$71.61	+25.7%	CALL	90353T100
GME	GAMESTOP CORP NEW	453,200 (+48.3%)	$9,100 (+9.2%)	0.1%	$22.92	-2.1%	CALL	36467W109
NIO	NIO INC	350,648 (+4.7%)	$1,788 (-29.9%)	0.0%	$7.51	—	SPON ADS	62914V106
SPY	SPDR S&P 500 ETF TR	1,437 (+106.2%)	$980 (+111.0%)	0.0%	$674.29	—	TR UNIT	78462F103
CVLT	COMMVAULT SYS INC	19,700 (+36.8%)	$2,470 (-9.2%)	0.0%	$169.64	-17.1%	COM	204166102
SLG	SL GREEN RLTY CORP	32,074 (+11.6%)	$1,471 (-14.4%)	0.0%	$58.36	—	COM	78440X887
ACHR	ARCHER AVIATION INC	1,250,000 (+25.0%)	$9,400 (-1.9%)	0.1%	$4.94	+90.6%	COM CL A	03945R102
GRAB	GRAB HOLDINGS LIMITED	185,000 (+2.5%)	$923 (-15.0%)	0.0%	—	—	PUT	G4124C109
UBER	UBER TECHNOLOGIES INC	64,000 (+22.8%)	$5,229 (+2.5%)	0.0%	$71.61	+25.7%	PUT	90353T100
GRAB	GRAB HOLDINGS LIMITED	235,000 (+30.1%)	$1,173 (+7.9%)	0.0%	—	—	CALL	G4124C109
HNGE	HINGE HEALTH INC	70,000 (+7.7%)	$3,252 (+1.9%)	0.0%	$45.22	+6.5%	CL A	433313103

Exited Positions (87)

— VERONA PHARMA PLC 3.6%

Value ($000) $454,966 Shares 4,263,576 Est. Cost $106.71 Unrealized —

— INFORMATICA INC 2.5%

Value ($000) $322,254 Shares 12,973,197 Est. Cost $24.84 Unrealized —

— INTERPUBLIC GROUP COS INC 2.3%

Value ($000) $295,290 Shares 10,580,062 Est. Cost $25.59 Unrealized +1.5%

— MERUS N V 2.1%

Value ($000) $268,328 Shares 2,850,000 Est. Cost $94.15 Unrealized —

— MR COOPER GROUP INC 1.6%

Value ($000) $202,521 Shares 950,000 Est. Cost $213.18 Unrealized —

— METSERA INC 1.3%

Value ($000) $167,456 Shares 3,200,000 Est. Cost $52.33 Unrealized —

— KELLANOVA 1.3%

Value ($000) $164,040 Shares 2,000,000 Est. Cost $78.61 Unrealized +5.1%

— WNS HLDGS LTD 1.2%

Value ($000) $150,099 Shares 1,967,992 Est. Cost $76.27 Unrealized —

— STEELCASE INC 0.7%

Value ($000) $95,407 Shares 5,546,945 Est. Cost $17.20 Unrealized —

— SAPIENS INTL CORP N V 0.7%

Value ($000) $83,887 Shares 1,950,865 Est. Cost $43.00 Unrealized —

XOP SPDR SERIES TRUST 0.5%

Value ($000) $65,439 Shares 495,000 Est. Cost — Unrealized —

— VERINT SYS INC 0.4%

Value ($000) $55,138 Shares 2,722,862 Est. Cost $20.25 Unrealized —

FBTC FIDELITY WISE ORIGIN BITCOIN 0.3%

Value ($000) $33,064 Shares 331,272 Est. Cost $76.02 Unrealized —

— SPIRIT AEROSYSTEMS INC 0.2%

Value ($000) $27,991 Shares 19,000,000 Est. Cost $1.36 Unrealized —

— FIRST MAJESTIC SILVER CORP 0.2%

Value ($000) $26,947 Shares 24,957,000 Est. Cost $0.91 Unrealized —

TFX TELEFLEX INCORPORATED 0.2%

Value ($000) $24,472 Shares 200,000 Est. Cost $120.66 Unrealized +0.3%

— RWT HLDGS INC 0.1%

Value ($000) $17,994 Shares 18,056,000 Est. Cost $0.95 Unrealized —

BITB BITWISE BITCOIN ETF TR 0.1%

Value ($000) $15,625 Shares 251,122 Est. Cost $37.73 Unrealized —

— IMPINJ INC 0.1%

Value ($000) $14,131 Shares 8,447,000 Est. Cost $1.42 Unrealized —

COIN COINBASE GLOBAL INC 0.1%

Value ($000) $13,668 Shares 40,500 Est. Cost — Unrealized —

LDOS LEIDOS HOLDINGS INC 0.1%

Value ($000) $12,849 Shares 68,000 Est. Cost — Unrealized —

— SHAKE SHACK INC 0.1%

Value ($000) $11,895 Shares 12,500,000 Est. Cost $1.03 Unrealized —

BTC GRAYSCALE BITCOIN MINI TR ET 0.1%

Value ($000) $11,478 Shares 226,705 Est. Cost $47.75 Unrealized —

— LANTHEUS HLDGS INC 0.1%

Value ($000) $11,280 Shares 10,723,000 Est. Cost $1.33 Unrealized —

COP CONOCOPHILLIPS 0.1%

Value ($000) $7,255 Shares 76,700 Est. Cost — Unrealized —

JEF JEFFERIES FINL GROUP INC 0.1%

Value ($000) $7,065 Shares 108,000 Est. Cost — Unrealized —

PR PERMIAN RESOURCES CORP 0.1%

Value ($000) $7,040 Shares 550,000 Est. Cost $13.71 Unrealized -2.1%

— BOEING CO 0.1%

Value ($000) $6,966 Shares 100,000 Est. Cost $69.66 Unrealized —

EOG EOG RES INC 0.1%

Value ($000) $6,873 Shares 61,300 Est. Cost — Unrealized —

SNDK SANDISK CORP 0.1%

Value ($000) $6,867 Shares 61,200 Est. Cost $46.96 Unrealized +326.5%

CACI CACI INTL INC 0.1%

Value ($000) $6,584 Shares 13,200 Est. Cost — Unrealized —

DJT TRUMP MEDIA & TECHNOLOGY GRO 0.1%

Value ($000) $6,409 Shares 390,300 Est. Cost $17.74 Unrealized -23.1%

COIN COINBASE GLOBAL INC 0.0%

Value ($000) $6,007 Shares 17,800 Est. Cost — Unrealized —

SAIC SCIENCE APPLICATIONS INTL CO 0.0%

Value ($000) $5,637 Shares 56,700 Est. Cost — Unrealized —

— KKR & CO INC 0.0%

Value ($000) $5,220 Shares 100,000 Est. Cost $51.59 Unrealized —

DJT TRUMP MEDIA & TECHNOLOGY GRO 0.0%

Value ($000) $5,168 Shares 314,716 Est. Cost $17.74 Unrealized -23.1%

DMIIU DRUGS MADE IN AMER ACQ II CO 0.0%

Value ($000) $4,973 Shares 500,000 Est. Cost $9.95 Unrealized —

— LIBERTY MEDIA CORP DEL 0.0%

Value ($000) $4,289 Shares 45,482 Est. Cost $68.71 Unrealized —

BAH BOOZ ALLEN HAMILTON HLDG COR 0.0%

Value ($000) $4,108 Shares 41,100 Est. Cost — Unrealized —

AGNC AGNC INVT CORP 0.0%

Value ($000) $3,916 Shares 400,000 Est. Cost — Unrealized —

WAY WAYSTAR HLDG CORP 0.0%

Value ($000) $3,792 Shares 100,000 Est. Cost $37.06 Unrealized -3.9%

META META PLATFORMS INC 0.0%

Value ($000) $3,745 Shares 5,100 Est. Cost — Unrealized —

NTSK NETSKOPE INC 0.0%

Value ($000) $3,637 Shares 160,000 Est. Cost $23.79 Unrealized -12.3%

STUB STUBHUB HLDGS INC 0.0%

Value ($000) $3,368 Shares 200,000 Est. Cost $18.34 Unrealized -14.3%

FCRS/U FUTURECREST ACQUISITION CORP 0.0%

Value ($000) $3,180 Shares 300,000 Est. Cost $10.60 Unrealized —

DASH DOORDASH INC 0.0%

Value ($000) $2,937 Shares 10,800 Est. Cost — Unrealized —

EVTL VERTICAL AEROSPACE LTD 0.0%

Value ($000) $2,595 Shares 500,000 Est. Cost $5.56 Unrealized -8.9%

HVMCU HIGHVIEW MERGER CORP 0.0%

Value ($000) $2,530 Shares 250,000 Est. Cost $10.12 Unrealized —

ARR ARMOUR RESIDENTIAL REIT INC 0.0%

Value ($000) $2,241 Shares 150,000 Est. Cost — Unrealized —

B BARRICK MNG CORP 0.0%

Value ($000) $2,130 Shares 65,000 Est. Cost $25.15 Unrealized +48.8%

STWD STARWOOD PPTY TR INC 0.0%

Value ($000) $2,117 Shares 109,300 Est. Cost — Unrealized —

BCSS/U BAIN CAP GSS INVT CORP 0.0%

Value ($000) $2,018 Shares 200,000 Est. Cost $10.09 Unrealized —

NWS NEWS CORP NEW 0.0%

Value ($000) $1,990 Shares 57,586 Est. Cost $33.69 Unrealized -11.5%

SFD SMITHFIELD FOODS INC 0.0%

Value ($000) $1,878 Shares 80,000 Est. Cost $24.05 Unrealized -9.0%

SCCO SOUTHERN COPPER CORP 0.0%

Value ($000) $1,839 Shares 15,151 Est. Cost $87.17 Unrealized +52.3%

OMDA OMADA HEALTH INC 0.0%

Value ($000) $1,658 Shares 75,000 Est. Cost $17.31 Unrealized +17.2%

OLN OLIN CORP 0.0%

Value ($000) $1,580 Shares 63,212 Est. Cost $21.88 Unrealized -2.0%

WHR WHIRLPOOL CORP 0.0%

Value ($000) $1,572 Shares 20,000 Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 0.0%

Value ($000) $1,546 Shares 9,500 Est. Cost $124.70 Unrealized +106.0%

CEPT CANTOR EQUITY PARTNERS II IN 0.0%

Value ($000) $1,487 Shares 141,445 Est. Cost $11.29 Unrealized -0.1%

RIG TRANSOCEAN LTD 0.0%

Value ($000) $1,482 Shares 475,000 Est. Cost $3.02 Unrealized +28.7%

AAP ADVANCE AUTO PARTS INC 0.0%

Value ($000) $1,474 Shares 24,000 Est. Cost — Unrealized —

RWT REDWOOD TRUST INC 0.0%

Value ($000) $1,448 Shares 250,000 Est. Cost — Unrealized —

GOOGL ALPHABET INC 0.0%

Value ($000) $1,264 Shares 5,200 Est. Cost — Unrealized —

TROX TRONOX HOLDINGS PLC 0.0%

Value ($000) $1,206 Shares 300,000 Est. Cost — Unrealized —

HIMS HIMS & HERS HEALTH INC 0.0%

Value ($000) $1,191 Shares 21,000 Est. Cost $51.24 Unrealized -16.4%

FOX FOX CORP 0.0%

Value ($000) $1,146 Shares 20,000 Est. Cost $52.60 Unrealized +11.0%

IVR INVESCO MORTGAGE CAPITAL INC 0.0%

Value ($000) $1,134 Shares 150,000 Est. Cost — Unrealized —

WOLF WOLFSPEED INC 0.0%

Value ($000) $1,074 Shares 37,552 Est. Cost $25.35 Unrealized -9.5%

IWM ISHARES TR 0.0%

Value ($000) $1,073 Shares 4,433 Est. Cost $241.96 Unrealized —

WELL WELLTOWER INC 0.0%

Value ($000) $1,015 Shares 5,700 Est. Cost — Unrealized —

WELL WELLTOWER INC 0.0%

Value ($000) $1,015 Shares 5,700 Est. Cost — Unrealized —

— ENCORE CAP GROUP INC 0.0%

Value ($000) $982 Shares 1,000,000 Est. Cost $0.97 Unrealized —

AAPL APPLE INC 0.0%

Value ($000) $968 Shares 3,800 Est. Cost — Unrealized —

GT GOODYEAR TIRE & RUBR CO 0.0%

Value ($000) $913 Shares 122,000 Est. Cost $9.40 Unrealized -16.2%

MSFT MICROSOFT CORP 0.0%

Value ($000) $881 Shares 1,700 Est. Cost — Unrealized —

AMZN AMAZON COM INC 0.0%

Value ($000) $856 Shares 3,900 Est. Cost — Unrealized —

COCO VITA COCO CO INC 0.0%

Value ($000) $849 Shares 20,000 Est. Cost $37.08 Unrealized +26.5%

— PARAMOUNT GROUP INC 0.0%

Value ($000) $818 Shares 125,000 Est. Cost — Unrealized —

DCH AMERICAN AXLE & MFG HLDGS IN 0.0%

Value ($000) $601 Shares 100,000 Est. Cost — Unrealized —

ALNY ALNYLAM PHARMACEUTICALS INC 0.0%

Value ($000) $561 Shares 1,231 Est. Cost $407.20 Unrealized +8.7%

VIA VIA TRANSN INC 0.0%

Value ($000) $481 Shares 10,000 Est. Cost $49.48 Unrealized -16.6%

CUBI CUSTOMERS BANCORP INC 0.0%

Value ($000) $323 Shares 4,942 Est. Cost $65.77 Unrealized +4.3%

— LIBERTY MEDIA CORP DEL 0.0%

Value ($000) $319 Shares 3,286 Est. Cost $82.65 Unrealized —

WBI WATERBRIDGE INFRASTRUCTURE L 0.0%

Value ($000) $252 Shares 10,000 Est. Cost $23.45 Unrealized -1.0%

NEE NEXTERA ENERGY INC 0.0%

Value ($000) $243 Shares 3,217 Est. Cost $68.10 Unrealized +21.2%

BEAGR BOLD EAGLE ACQUISITION CORP 0.0%

Value ($000) $34 Shares 125,000 Est. Cost $0.23 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	VERONA PHARMA PLC	4,263,576	$454,966	3.6%	$106.71	—	—	925050106
—	INFORMATICA INC	12,973,197	$322,254	2.5%	$24.84	—	—	45674M101
—	INTERPUBLIC GROUP COS INC	10,580,062	$295,290	2.3%	$25.59	+1.5%	—	460690100
—	MERUS N V	2,850,000	$268,328	2.1%	$94.15	—	—	N5749R100
—	MR COOPER GROUP INC	950,000	$202,521	1.6%	$213.18	—	—	62482R107
—	METSERA INC	3,200,000	$167,456	1.3%	$52.33	—	—	59267L107
—	KELLANOVA	2,000,000	$164,040	1.3%	$78.61	+5.1%	—	487836108
—	WNS HLDGS LTD	1,967,992	$150,099	1.2%	$76.27	—	—	G98196101
—	STEELCASE INC	5,546,945	$95,407	0.7%	$17.20	—	—	858155203
—	SAPIENS INTL CORP N V	1,950,865	$83,887	0.7%	$43.00	—	—	G7T16G103
XOP	SPDR SERIES TRUST	495,000	$65,439	0.5%	—	—	PUT	78468R556
—	VERINT SYS INC	2,722,862	$55,138	0.4%	$20.25	—	—	92343X100
FBTC	FIDELITY WISE ORIGIN BITCOIN	331,272	$33,064	0.3%	$76.02	—	—	315948109
—	SPIRIT AEROSYSTEMS INC	19,000,000	$27,991	0.2%	$1.36	—	—	85205TAQ3
—	FIRST MAJESTIC SILVER CORP	24,957,000	$26,947	0.2%	$0.91	—	—	32076VAD5
TFX	TELEFLEX INCORPORATED	200,000	$24,472	0.2%	$120.66	+0.3%	PUT	879369106
—	RWT HLDGS INC	18,056,000	$17,994	0.1%	$0.95	—	—	749772AD1
BITB	BITWISE BITCOIN ETF TR	251,122	$15,625	0.1%	$37.73	—	—	09174C104
—	IMPINJ INC	8,447,000	$14,131	0.1%	$1.42	—	—	453204AD1
COIN	COINBASE GLOBAL INC	40,500	$13,668	0.1%	—	—	PUT	19260Q107
LDOS	LEIDOS HOLDINGS INC	68,000	$12,849	0.1%	—	—	PUT	525327102
—	SHAKE SHACK INC	12,500,000	$11,895	0.1%	$1.03	—	—	819047AB7
BTC	GRAYSCALE BITCOIN MINI TR ET	226,705	$11,478	0.1%	$47.75	—	—	389930207
—	LANTHEUS HLDGS INC	10,723,000	$11,280	0.1%	$1.33	—	—	516544AB9
COP	CONOCOPHILLIPS	76,700	$7,255	0.1%	—	—	PUT	20825C104
JEF	JEFFERIES FINL GROUP INC	108,000	$7,065	0.1%	—	—	PUT	47233W109
PR	PERMIAN RESOURCES CORP	550,000	$7,040	0.1%	$13.71	-2.1%	—	71424F105
—	BOEING CO	100,000	$6,966	0.1%	$69.66	—	—	097023204
EOG	EOG RES INC	61,300	$6,873	0.1%	—	—	PUT	26875P101
SNDK	SANDISK CORP	61,200	$6,867	0.1%	$46.96	+326.5%	PUT	80004C200
CACI	CACI INTL INC	13,200	$6,584	0.1%	—	—	PUT	127190304
DJT	TRUMP MEDIA & TECHNOLOGY GRO	390,300	$6,409	0.1%	$17.74	-23.1%	PUT	25400Q105
COIN	COINBASE GLOBAL INC	17,800	$6,007	0.0%	—	—	CALL	19260Q107
SAIC	SCIENCE APPLICATIONS INTL CO	56,700	$5,637	0.0%	—	—	PUT	808625107
—	KKR & CO INC	100,000	$5,220	0.0%	$51.59	—	—	48251W500
DJT	TRUMP MEDIA & TECHNOLOGY GRO	314,716	$5,168	0.0%	$17.74	-23.1%	—	25400Q105
DMIIU	DRUGS MADE IN AMER ACQ II CO	500,000	$4,973	0.0%	$9.95	—	—	G2851K120
—	LIBERTY MEDIA CORP DEL	45,482	$4,289	0.0%	$68.71	—	—	531229748
BAH	BOOZ ALLEN HAMILTON HLDG COR	41,100	$4,108	0.0%	—	—	PUT	099502106
AGNC	AGNC INVT CORP	400,000	$3,916	0.0%	—	—	CALL	00123Q104
WAY	WAYSTAR HLDG CORP	100,000	$3,792	0.0%	$37.06	-3.9%	—	946784105
META	META PLATFORMS INC	5,100	$3,745	0.0%	—	—	PUT	30303M102
NTSK	NETSKOPE INC	160,000	$3,637	0.0%	$23.79	-12.3%	—	64119N608
STUB	STUBHUB HLDGS INC	200,000	$3,368	0.0%	$18.34	-14.3%	—	86384P109
FCRS/U	FUTURECREST ACQUISITION CORP	300,000	$3,180	0.0%	$10.60	—	—	G3730U123
DASH	DOORDASH INC	10,800	$2,937	0.0%	—	—	PUT	25809K105
EVTL	VERTICAL AEROSPACE LTD	500,000	$2,595	0.0%	$5.56	-8.9%	—	G9471C206
HVMCU	HIGHVIEW MERGER CORP	250,000	$2,530	0.0%	$10.12	—	—	G4569C127
ARR	ARMOUR RESIDENTIAL REIT INC	150,000	$2,241	0.0%	—	—	CALL	042315705
B	BARRICK MNG CORP	65,000	$2,130	0.0%	$25.15	+48.8%	—	06849F108
STWD	STARWOOD PPTY TR INC	109,300	$2,117	0.0%	—	—	PUT	85571B105
BCSS/U	BAIN CAP GSS INVT CORP	200,000	$2,018	0.0%	$10.09	—	—	G0R78B122
NWS	NEWS CORP NEW	57,586	$1,990	0.0%	$33.69	-11.5%	—	65249B208
SFD	SMITHFIELD FOODS INC	80,000	$1,878	0.0%	$24.05	-9.0%	—	832248207
SCCO	SOUTHERN COPPER CORP	15,151	$1,839	0.0%	$87.17	+52.3%	—	84265V105
OMDA	OMADA HEALTH INC	75,000	$1,658	0.0%	$17.31	+17.2%	—	68170A108
OLN	OLIN CORP	63,212	$1,580	0.0%	$21.88	-2.0%	—	680665205
WHR	WHIRLPOOL CORP	20,000	$1,572	0.0%	—	—	PUT	963320106
LITE	LUMENTUM HLDGS INC	9,500	$1,546	0.0%	$124.70	+106.0%	—	55024U109
CEPT	CANTOR EQUITY PARTNERS II IN	141,445	$1,487	0.0%	$11.29	-0.1%	—	G1827P106
RIG	TRANSOCEAN LTD	475,000	$1,482	0.0%	$3.02	+28.7%	—	H8817H100
AAP	ADVANCE AUTO PARTS INC	24,000	$1,474	0.0%	—	—	PUT	00751Y106
RWT	REDWOOD TRUST INC	250,000	$1,448	0.0%	—	—	PUT	758075402
GOOGL	ALPHABET INC	5,200	$1,264	0.0%	—	—	PUT	02079K305
TROX	TRONOX HOLDINGS PLC	300,000	$1,206	0.0%	—	—	CALL	G9087Q102
HIMS	HIMS & HERS HEALTH INC	21,000	$1,191	0.0%	$51.24	-16.4%	CALL	433000106
FOX	FOX CORP	20,000	$1,146	0.0%	$52.60	+11.0%	—	35137L204
IVR	INVESCO MORTGAGE CAPITAL INC	150,000	$1,134	0.0%	—	—	CALL	46131B704
WOLF	WOLFSPEED INC	37,552	$1,074	0.0%	$25.35	-9.5%	CALL	97785W106
IWM	ISHARES TR	4,433	$1,073	0.0%	$241.96	—	—	464287655
WELL	WELLTOWER INC	5,700	$1,015	0.0%	—	—	PUT	95040Q104
WELL	WELLTOWER INC	5,700	$1,015	0.0%	—	—	CALL	95040Q104
—	ENCORE CAP GROUP INC	1,000,000	$982	0.0%	$0.97	—	—	292554AP7
AAPL	APPLE INC	3,800	$968	0.0%	—	—	PUT	037833100
GT	GOODYEAR TIRE & RUBR CO	122,000	$913	0.0%	$9.40	-16.2%	—	382550101
MSFT	MICROSOFT CORP	1,700	$881	0.0%	—	—	PUT	594918104
AMZN	AMAZON COM INC	3,900	$856	0.0%	—	—	PUT	023135106
COCO	VITA COCO CO INC	20,000	$849	0.0%	$37.08	+26.5%	—	92846Q107
—	PARAMOUNT GROUP INC	125,000	$818	0.0%	—	—	CALL	69924R108
DCH	AMERICAN AXLE & MFG HLDGS IN	100,000	$601	0.0%	—	—	CALL	024061103
ALNY	ALNYLAM PHARMACEUTICALS INC	1,231	$561	0.0%	$407.20	+8.7%	—	02043Q107
VIA	VIA TRANSN INC	10,000	$481	0.0%	$49.48	-16.6%	—	92556W104
CUBI	CUSTOMERS BANCORP INC	4,942	$323	0.0%	$65.77	+4.3%	—	23204G100
—	LIBERTY MEDIA CORP DEL	3,286	$319	0.0%	$82.65	—	—	531229722
WBI	WATERBRIDGE INFRASTRUCTURE L	10,000	$252	0.0%	$23.45	-1.0%	—	940923105
NEE	NEXTERA ENERGY INC	3,217	$243	0.0%	$68.10	+21.2%	—	65339F101
BEAGR	BOLD EAGLE ACQUISITION CORP	125,000	$34	0.0%	$0.23	—	—	G2003N121

Decreased Positions (46)

ARKB ARK 21SHARES BITCOIN ETF 0.4%

Value ($000) $57,118 (-53.8%) Shares 1,966,887 (-39.5%) Est. Cost $48.40 Unrealized —

CPA COPA HOLDINGS SA 0.0%

Value ($000) $1,821 (-96.7%) Shares 15,100 (-96.8%) Est. Cost — Unrealized —

— WAYFAIR INC 0.1%

Value ($000) $7,316 (-87.2%) Shares 4,375,000 (-88.3%) Est. Cost $1.52 Unrealized —

AGNC AGNC INVT CORP 0.2%

Value ($000) $19,296 (-71.7%) Shares 1,800,000 (-74.1%) Est. Cost — Unrealized —

NBIS NEBIUS GROUP N.V. 0.4%

Value ($000) $46,607 (-40.1%) Shares 556,800 (-19.6%) Est. Cost — Unrealized —

IWM ISHARES TR 0.6%

Value ($000) $73,405 (-27.5%) Shares 298,200 (-28.7%) Est. Cost $241.96 Unrealized —

DDOG DATADOG INC 0.0%

Value ($000) $843 (-97.0%) Shares 6,200 (-96.9%) Est. Cost $158.02 Unrealized 0.0%

UBER UBER TECHNOLOGIES INC 0.2%

Value ($000) $22,614 (-53.6%) Shares 276,754 (-44.3%) Est. Cost $71.61 Unrealized +25.7%

MSTR STRATEGY INC 0.1%

Value ($000) $18,538 (-56.7%) Shares 122,000 (-8.3%) Est. Cost $230.22 Unrealized 0.0%

— STRATEGY INC 0.1%

Value ($000) $12,847 (-64.4%) Shares 10,107,000 (-37.3%) Est. Cost $2.04 Unrealized —

GTLS CHART INDS INC 3.2%

Value ($000) $406,086 (-4.7%) Shares 1,969,092 (-7.5%) Est. Cost $190.05 Unrealized +6.6%

SIRI SIRIUSXM HOLDINGS INC 0.0%

Value ($000) $5,701 (-76.3%) Shares 285,100 (-72.5%) Est. Cost $21.49 Unrealized 0.0%

— ALIBABA GROUP HLDG LTD 0.1%

Value ($000) $18,663 (-47.9%) Shares 12,000,000 (-38.5%) Est. Cost $1.28 Unrealized —

CNK CINEMARK HLDGS INC 0.1%

Value ($000) $6,702 (-65.3%) Shares 288,400 (-58.1%) Est. Cost — Unrealized —

GME GAMESTOP CORP NEW 0.2%

Value ($000) $24,747 (-32.9%) Shares 1,232,400 (-8.9%) Est. Cost $22.92 Unrealized -2.1%

— PAR TECHNOLOGY CORP 0.0%

Value ($000) $6,253 (-62.6%) Shares 6,382,000 (-63.3%) Est. Cost $0.85 Unrealized —

— KOSMOS ENERGY LTD 0.1%

Value ($000) $16,276 (-37.5%) Shares 38,250,000 (-6.1%) Est. Cost $0.76 Unrealized —

HIMS HIMS & HERS HEALTH INC 0.0%

Value ($000) $1,367 (-86.5%) Shares 42,088 (-76.5%) Est. Cost $51.24 Unrealized -16.4%

HIMS HIMS & HERS HEALTH INC 0.1%

Value ($000) $9,767 (-46.5%) Shares 300,800 (-6.5%) Est. Cost $51.24 Unrealized -16.4%

— CENTERPOINT ENERGY INC 0.1%

Value ($000) $12,593 (-38.7%) Shares 11,500,000 (-37.8%) Est. Cost $1.11 Unrealized —

— ANI PHARMACEUTICALS INC 0.2%

Value ($000) $28,589 (-19.1%) Shares 22,650,000 (-9.9%) Est. Cost $1.41 Unrealized —

DLR DIGITAL RLTY TR INC 0.0%

Value ($000) $5,700 (-53.6%) Shares 36,842 (-48.1%) Est. Cost $164.24 Unrealized -0.7%

NWSA NEWS CORP NEW 0.2%

Value ($000) $30,917 (-16.4%) Shares 1,183,664 (-1.7%) Est. Cost $22.87 Unrealized +14.7%

CVLT COMMVAULT SYS INC 0.1%

Value ($000) $8,537 (-39.9%) Shares 68,100 (-9.6%) Est. Cost $169.64 Unrealized -17.1%

SOLZ VOLATILITY SHS TR 0.0%

Value ($000) $1,911 (-72.5%) Shares 150,000 (-52.2%) Est. Cost — Unrealized —

LTM LATAM AIRLINES GROUP SA 0.3%

Value ($000) $33,756 (-10.5%) Shares 625,000 (-25.0%) Est. Cost — Unrealized —

— FORTUNA MNG CORP 0.1%

Value ($000) $17,027 (-17.0%) Shares 10,000,000 (-23.1%) Est. Cost $1.30 Unrealized —

NWL NEWELL BRANDS INC 0.0%

Value ($000) $744 (-68.4%) Shares 200,000 (-55.4%) Est. Cost $5.51 Unrealized -27.7%

PMT PENNYMAC MTG INVT TR 0.1%

Value ($000) $8,367 (-15.9%) Shares 666,700 (-17.9%) Est. Cost — Unrealized —

AEXA AMERICAN EXCEPTIONALISM ACQU 0.0%

Value ($000) $3,987 (-27.1%) Shares 350,000 (-30.0%) Est. Cost $10.77 Unrealized +4.2%

WOLF WOLFSPEED INC 0.0%

Value ($000) $281 (-83.3%) Shares 16,149 (-72.5%) Est. Cost $25.35 Unrealized -9.5%

BATRK ATLANTA BRAVES HLDGS INC 0.1%

Value ($000) $16,522 (-7.1%) Shares 418,804 (-2.1%) Est. Cost $40.12 Unrealized -1.5%

CAEP CANTOR EQUITY PARTNERS III I 0.0%

Value ($000) $3,060 (-25.9%) Shares 300,000 (-25.0%) Est. Cost $10.53 Unrealized -1.5%

TFX TELEFLEX INCORPORATED 0.2%

Value ($000) $23,477 (-4.0%) Shares 192,372 (-3.8%) Est. Cost $120.66 Unrealized +0.3%

DLR DIGITAL RLTY TR INC 0.0%

Value ($000) $1,470 (-26.1%) Shares 9,500 (-17.4%) Est. Cost $164.24 Unrealized -0.7%

DLR DIGITAL RLTY TR INC 0.0%

Value ($000) $1,470 (-26.1%) Shares 9,500 (-17.4%) Est. Cost $164.24 Unrealized -0.7%

LION LIONSGATE STUDIOS CORP 0.0%

Value ($000) $5,338 (+10.7%) Shares 584,659 (-16.3%) Est. Cost $6.57 Unrealized +8.3%

CEPF CANTOR EQUITY PARTNERS IV IN 0.0%

Value ($000) $4,626 (-9.2%) Shares 450,000 (-10.0%) Est. Cost $10.15 Unrealized +2.4%

BEAG BOLD EAGLE ACQUISITION CORP 0.0%

Value ($000) $4,761 (-7.8%) Shares 450,000 (-9.4%) Est. Cost $9.86 Unrealized +8.0%

PMTR PERIMETER ACQUISITION CORP I 0.0%

Value ($000) $3,701 (-9.0%) Shares 360,000 (-10.0%) Est. Cost $10.22 Unrealized +1.0%

NEE NEXTERA ENERGY INC 0.0%

Value ($000) $1,004 (-21.8%) Shares 12,500 (-26.5%) Est. Cost $68.10 Unrealized +21.2%

NEE NEXTERA ENERGY INC 0.0%

Value ($000) $1,004 (-21.8%) Shares 12,500 (-26.5%) Est. Cost $68.10 Unrealized +21.2%

LCID LUCID GROUP INC 0.0%

Value ($000) $136 (-65.5%) Shares 12,903 (-22.3%) Est. Cost $22.60 Unrealized -29.3%

JPM JPMORGAN CHASE & CO. 0.1%

Value ($000) $7,540 (-2.0%) Shares 23,400 (-4.1%) Est. Cost — Unrealized —

RKLB ROCKET LAB CORP 0.0%

Value ($000) $579 (+31.4%) Shares 8,300 (-9.8%) Est. Cost $31.06 Unrealized +84.6%

JENA-R JENA ACQUISITION CORP II 0.0%

Value ($000) $126 (-9.7%) Shares 646,400 (-7.7%) Est. Cost $0.20 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ARKB	ARK 21SHARES BITCOIN ETF	1,966,887 (-39.5%)	$57,118 (-53.8%)	0.4%	$48.40	—	SHS BEN INT	040919102
CPA	COPA HOLDINGS SA	15,100 (-96.8%)	$1,821 (-96.7%)	0.0%	—	—	PUT	P31076105
—	WAYFAIR INC	4,375,000 (-88.3%)	$7,316 (-87.2%)	0.1%	$1.52	—	NOTE 3.250% 9/1	94419LAP6
AGNC	AGNC INVT CORP	1,800,000 (-74.1%)	$19,296 (-71.7%)	0.2%	—	—	PUT	00123Q104
NBIS	NEBIUS GROUP N.V.	556,800 (-19.6%)	$46,607 (-40.1%)	0.4%	—	—	PUT	N97284108
IWM	ISHARES TR	298,200 (-28.7%)	$73,405 (-27.5%)	0.6%	$241.96	—	PUT	464287655
DDOG	DATADOG INC	6,200 (-96.9%)	$843 (-97.0%)	0.0%	$158.02	0.0%	CALL	23804L103
UBER	UBER TECHNOLOGIES INC	276,754 (-44.3%)	$22,614 (-53.6%)	0.2%	$71.61	+25.7%	COM	90353T100
MSTR	STRATEGY INC	122,000 (-8.3%)	$18,538 (-56.7%)	0.1%	$230.22	0.0%	PUT	594972408
—	STRATEGY INC	10,107,000 (-37.3%)	$12,847 (-64.4%)	0.1%	$2.04	—	NOTE 0.625% 3/1	594972AJ0
GTLS	CHART INDS INC	1,969,092 (-7.5%)	$406,086 (-4.7%)	3.2%	$190.05	+6.6%	COM	16115Q308
SIRI	SIRIUSXM HOLDINGS INC	285,100 (-72.5%)	$5,701 (-76.3%)	0.0%	$21.49	0.0%	CALL	829933100
—	ALIBABA GROUP HLDG LTD	12,000,000 (-38.5%)	$18,663 (-47.9%)	0.1%	$1.28	—	NOTE 0.500% 6/0	01609WBG6
CNK	CINEMARK HLDGS INC	288,400 (-58.1%)	$6,702 (-65.3%)	0.1%	—	—	CALL	17243V102
GME	GAMESTOP CORP NEW	1,232,400 (-8.9%)	$24,747 (-32.9%)	0.2%	$22.92	-2.1%	PUT	36467W109
—	PAR TECHNOLOGY CORP	6,382,000 (-63.3%)	$6,253 (-62.6%)	0.0%	$0.85	—	NOTE 1.500%10/1	698884AE3
—	KOSMOS ENERGY LTD	38,250,000 (-6.1%)	$16,276 (-37.5%)	0.1%	$0.76	—	NOTE 3.125% 3/1	500688AH9
HIMS	HIMS & HERS HEALTH INC	42,088 (-76.5%)	$1,367 (-86.5%)	0.0%	$51.24	-16.4%	COM CL A	433000106
HIMS	HIMS & HERS HEALTH INC	300,800 (-6.5%)	$9,767 (-46.5%)	0.1%	$51.24	-16.4%	PUT	433000106
—	CENTERPOINT ENERGY INC	11,500,000 (-37.8%)	$12,593 (-38.7%)	0.1%	$1.11	—	NOTE 4.250% 8/1	15189TBD8
—	ANI PHARMACEUTICALS INC	22,650,000 (-9.9%)	$28,589 (-19.1%)	0.2%	$1.41	—	NOTE 2.250% 9/0	00182CAC7
DLR	DIGITAL RLTY TR INC	36,842 (-48.1%)	$5,700 (-53.6%)	0.0%	$164.24	-0.7%	COM	253868103
NWSA	NEWS CORP NEW	1,183,664 (-1.7%)	$30,917 (-16.4%)	0.2%	$22.87	+14.7%	CL A	65249B109
CVLT	COMMVAULT SYS INC	68,100 (-9.6%)	$8,537 (-39.9%)	0.1%	$169.64	-17.1%	PUT	204166102
SOLZ	VOLATILITY SHS TR	150,000 (-52.2%)	$1,911 (-72.5%)	0.0%	—	—	PUT	92864M822
LTM	LATAM AIRLINES GROUP SA	625,000 (-25.0%)	$33,756 (-10.5%)	0.3%	—	—	PUT	51817R205
—	FORTUNA MNG CORP	10,000,000 (-23.1%)	$17,027 (-17.0%)	0.1%	$1.30	—	NOTE 3.750% 6/3	349915AE8
NWL	NEWELL BRANDS INC	200,000 (-55.4%)	$744 (-68.4%)	0.0%	$5.51	-27.7%	COM	651229106
PMT	PENNYMAC MTG INVT TR	666,700 (-17.9%)	$8,367 (-15.9%)	0.1%	—	—	PUT	70931T103
AEXA	AMERICAN EXCEPTIONALISM ACQU	350,000 (-30.0%)	$3,987 (-27.1%)	0.0%	$10.77	+4.2%	ORD CL A	G0273J101
WOLF	WOLFSPEED INC	16,149 (-72.5%)	$281 (-83.3%)	0.0%	$25.35	-9.5%	COMMON STOCK	97785W106
BATRK	ATLANTA BRAVES HLDGS INC	418,804 (-2.1%)	$16,522 (-7.1%)	0.1%	$40.12	-1.5%	COM SER C	047726302
CAEP	CANTOR EQUITY PARTNERS III I	300,000 (-25.0%)	$3,060 (-25.9%)	0.0%	$10.53	-1.5%	SHS CL A	G1828A108
TFX	TELEFLEX INCORPORATED	192,372 (-3.8%)	$23,477 (-4.0%)	0.2%	$120.66	+0.3%	COM	879369106
DLR	DIGITAL RLTY TR INC	9,500 (-17.4%)	$1,470 (-26.1%)	0.0%	$164.24	-0.7%	CALL	253868103
DLR	DIGITAL RLTY TR INC	9,500 (-17.4%)	$1,470 (-26.1%)	0.0%	$164.24	-0.7%	PUT	253868103
LION	LIONSGATE STUDIOS CORP	584,659 (-16.3%)	$5,338 (+10.7%)	0.0%	$6.57	+8.3%	COM	53626N102
CEPF	CANTOR EQUITY PARTNERS IV IN	450,000 (-10.0%)	$4,626 (-9.2%)	0.0%	$10.15	+2.4%	SHS CL A	G1828E100
BEAG	BOLD EAGLE ACQUISITION CORP	450,000 (-9.4%)	$4,761 (-7.8%)	0.0%	$9.86	+8.0%	CL A	G2003N105
PMTR	PERIMETER ACQUISITION CORP I	360,000 (-10.0%)	$3,701 (-9.0%)	0.0%	$10.22	+1.0%	COM CL A	G7010A129
NEE	NEXTERA ENERGY INC	12,500 (-26.5%)	$1,004 (-21.8%)	0.0%	$68.10	+21.2%	PUT	65339F101
NEE	NEXTERA ENERGY INC	12,500 (-26.5%)	$1,004 (-21.8%)	0.0%	$68.10	+21.2%	CALL	65339F101
LCID	LUCID GROUP INC	12,903 (-22.3%)	$136 (-65.5%)	0.0%	$22.60	-29.3%	COM NEW	549498202
JPM	JPMORGAN CHASE & CO.	23,400 (-4.1%)	$7,540 (-2.0%)	0.1%	—	—	PUT	46625H100
RKLB	ROCKET LAB CORP	8,300 (-9.8%)	$579 (+31.4%)	0.0%	$31.06	+84.6%	COM	773121108
JENA-R	JENA ACQUISITION CORP II	646,400 (-7.7%)	$126 (-9.7%)	0.0%	$0.20	—	RIGHT 03/31/2030	G5093B113

Unchanged Positions (73)

SNDK SANDISK CORP 0.4%

Value ($000) $55,712 Shares 234,697 Est. Cost $46.96 Unrealized +326.5%

GLD SPDR GOLD TR 1.5%

Value ($000) $193,756 Shares 488,900 Est. Cost — Unrealized —

FETH FIDELITY ETHEREUM FD 0.3%

Value ($000) $33,345 Shares 1,126,139 Est. Cost $31.33 Unrealized —

— PELOTON INTERACTIVE INC 0.3%

Value ($000) $37,438 Shares 22,500,000 Est. Cost $1.84 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.8%

Value ($000) $102,988 Shares 338,900 Est. Cost — Unrealized —

ETHW BITWISE ETHEREUM ETF 0.1%

Value ($000) $17,732 Shares 833,682 Est. Cost $23.39 Unrealized —

— WAYFAIR INC 0.4%

Value ($000) $56,887 Shares 24,805,000 Est. Cost $1.89 Unrealized —

CNK CINEMARK HLDGS INC 0.2%

Value ($000) $19,396 Shares 834,600 Est. Cost — Unrealized —

ETH GRAYSCALE ETHEREUM MINI TR E 0.1%

Value ($000) $8,731 Shares 311,141 Est. Cost $23.72 Unrealized —

SOLV SOLVENTUM CORP 0.2%

Value ($000) $30,747 Shares 388,022 Est. Cost $65.53 Unrealized +16.9%

SLV ISHARES SILVER TR 0.1%

Value ($000) $6,558 Shares 101,800 Est. Cost — Unrealized —

JETS ETF SER SOLUTIONS 0.1%

Value ($000) $14,408 Shares 513,300 Est. Cost — Unrealized —

KWEB KRANESHARES TRUST 0.1%

Value ($000) $6,810 Shares 200,000 Est. Cost — Unrealized —

NIO NIO INC 0.0%

Value ($000) $3,073 Shares 602,500 Est. Cost $7.51 Unrealized —

WDC WESTERN DIGITAL CORP 0.0%

Value ($000) $4,952 Shares 28,747 Est. Cost $50.49 Unrealized +200.2%

PTON PELOTON INTERACTIVE INC 0.0%

Value ($000) $3,095 Shares 502,400 Est. Cost — Unrealized —

— NIO INC 0.1%

Value ($000) $8,434 Shares 9,300,000 Est. Cost $0.86 Unrealized —

ETHV VANECK ETHEREUM TR 0.0%

Value ($000) $3,129 Shares 72,028 Est. Cost $60.93 Unrealized —

CON CONCENTRA GROUP HOLDINGS PAR 0.1%

Value ($000) $16,979 Shares 862,750 Est. Cost $20.50 Unrealized -2.6%

C CITIGROUP INC 0.1%

Value ($000) $8,402 Shares 72,000 Est. Cost — Unrealized —

GOOG ALPHABET INC 0.0%

Value ($000) $4,613 Shares 14,700 Est. Cost — Unrealized —

— DUKE ENERGY CORP NEW 0.2%

Value ($000) $20,626 Shares 20,000,000 Est. Cost $1.07 Unrealized —

PTON PELOTON INTERACTIVE INC 0.0%

Value ($000) $1,891 Shares 307,000 Est. Cost — Unrealized —

BUD ANHEUSER BUSCH INBEV SA/NV 0.1%

Value ($000) $11,898 Shares 185,796 Est. Cost $58.58 Unrealized —

— TXNM ENERGY INC 0.2%

Value ($000) $30,259 Shares 22,500,000 Est. Cost $1.30 Unrealized —

— TWO HARBORS INVENTMENT CORPO 0.5%

Value ($000) $62,178 Shares 62,077,000 Est. Cost $0.90 Unrealized —

TRIP TRIPADVISOR INC 0.0%

Value ($000) $6,074 Shares 417,200 Est. Cost $14.89 Unrealized +2.2%

TRIP TRIPADVISOR INC 0.0%

Value ($000) $6,074 Shares 417,160 Est. Cost $14.89 Unrealized +2.2%

PLD PROLOGIS INC. 0.1%

Value ($000) $6,383 Shares 50,000 Est. Cost — Unrealized —

BAC BANK AMERICA CORP 0.1%

Value ($000) $9,174 Shares 166,800 Est. Cost — Unrealized —

ALHC ALIGNMENT HEALTHCARE INC 0.0%

Value ($000) $4,452 Shares 225,400 Est. Cost — Unrealized —

TCOM TRIP COM GROUP LTD 0.1%

Value ($000) $8,888 Shares 123,600 Est. Cost — Unrealized —

— PENNYMAC CORP 0.2%

Value ($000) $21,359 Shares 20,250,000 Est. Cost $1.02 Unrealized —

TRIP TRIPADVISOR INC 0.0%

Value ($000) $3,375 Shares 231,800 Est. Cost $14.89 Unrealized +2.2%

EZET FRANKLIN ETHEREUM TR 0.0%

Value ($000) $894 Shares 39,678 Est. Cost $31.59 Unrealized —

SCCO SOUTHERN COPPER CORP 0.0%

Value ($000) $2,152 Shares 15,000 Est. Cost $87.17 Unrealized +52.3%

— NABORS INDS INC 0.0%

Value ($000) $4,059 Shares 5,000,000 Est. Cost $0.77 Unrealized —

TETH 21SHARES ETHEREUM ETF 0.0%

Value ($000) $596 Shares 40,215 Est. Cost $20.80 Unrealized —

— PAR TECHNOLOGY CORP 0.0%

Value ($000) $4,910 Shares 4,830,000 Est. Cost $1.58 Unrealized —

RKLB ROCKET LAB CORP 0.0%

Value ($000) $698 Shares 10,000 Est. Cost $31.06 Unrealized +84.6%

DAL DELTA AIR LINES INC DEL 0.0%

Value ($000) $1,145 Shares 16,500 Est. Cost — Unrealized —

LUV SOUTHWEST AIRLS CO 0.0%

Value ($000) $827 Shares 20,000 Est. Cost — Unrealized —

AUR AURORA INNOVATION INC 0.0%

Value ($000) $422 Shares 110,000 Est. Cost — Unrealized —

AAL AMERICAN AIRLS GROUP INC 0.0%

Value ($000) $593 Shares 38,700 Est. Cost — Unrealized —

CMPR CIMPRESS PLC 0.0%

Value ($000) $2,730 Shares 41,000 Est. Cost — Unrealized —

LOKVW LIVE OAK ACQUISITION CORP V 0.0%

Value ($000) $197 Shares 200,000 Est. Cost $0.70 Unrealized —

— MARRIOTT VACATIONS WORLDWIDE 0.1%

Value ($000) $15,731 Shares 16,500,000 Est. Cost $0.91 Unrealized —

AACBR ARTIUS II ACQUISITION INC 0.0%

Value ($000) $185 Shares 500,000 Est. Cost $0.28 Unrealized —

ONCH 1RT ACQUISITION CORP. 0.0%

Value ($000) $2,543 Shares 249,304 Est. Cost $10.28 Unrealized +0.2%

AACB ARTIUS II ACQUISITION INC 0.0%

Value ($000) $5,150 Shares 499,998 Est. Cost $10.02 Unrealized +2.3%

SDHI SIDDHI ACQUISITION CORP 0.0%

Value ($000) $3,084 Shares 300,000 Est. Cost $10.11 Unrealized +1.2%

— PENNYMAC CORP 0.2%

Value ($000) $21,845 Shares 21,840,000 Est. Cost $0.99 Unrealized —

SOCA SOLARIUS CAPITAL ACQU CORP 0.0%

Value ($000) $3,015 Shares 300,000 Est. Cost $9.98 Unrealized +1.0%

PAII PYROPHYTE ACQUISITION CORP. 0.0%

Value ($000) $2,515 Shares 250,000 Est. Cost $9.94 Unrealized +1.3%

PMTRW PERIMETER ACQUISITION CORP I 0.0%

Value ($000) $142 Shares 200,000 Est. Cost $0.60 Unrealized —

GTENW GORES HLDGS X INC 0.0%

Value ($000) $116 Shares 125,000 Est. Cost $0.76 Unrealized —

GTEN GORES HLDGS X INC 0.0%

Value ($000) $5,125 Shares 500,000 Est. Cost $10.22 Unrealized +1.0%

— GLADSTONE CAP CORP 0.1%

Value ($000) $7,349 Shares 7,500,000 Est. Cost $0.98 Unrealized —

ONCHW 1RT ACQUISITION CORP. 0.0%

Value ($000) $36 Shares 62,501 Est. Cost $0.89 Unrealized —

SDHIR SIDDHI ACQUISITION CORP 0.0%

Value ($000) $75 Shares 300,000 Est. Cost $0.23 Unrealized —

PCAP PROCAP ACQUISITION CORP 0.0%

Value ($000) $1,013 Shares 100,002 Est. Cost $10.31 Unrealized -0.6%

JENA JENA ACQUISITION CORP II 0.1%

Value ($000) $7,118 Shares 699,900 Est. Cost $10.14 Unrealized +0.6%

TSLX SIXTH STREET SPECIALTY LENDI 0.0%

Value ($000) $222 Shares 10,200 Est. Cost — Unrealized —

PCAPW PROCAP ACQUISITION CORP 0.0%

Value ($000) $10 Shares 33,334 Est. Cost $0.65 Unrealized —

FIGX FIGX CAP ACQUISITION CORP. 0.0%

Value ($000) $1,258 Shares 125,002 Est. Cost $10.00 Unrealized +0.6%

LOKV LIVE OAK ACQUISITION CORP V 0.0%

Value ($000) $4,089 Shares 396,951 Est. Cost $10.26 Unrealized +0.1%

HCMAW HCM III ACQUISITION CORP 0.0%

Value ($000) $16 Shares 33,334 Est. Cost $0.71 Unrealized —

HCMA HCM III ACQUISITION CORP 0.0%

Value ($000) $1,004 Shares 100,002 Est. Cost $10.10 Unrealized +0.7%

PAII/WS PYROPHYTE ACQUISITION CORP. 0.0%

Value ($000) $50 Shares 125,000 Est. Cost $0.35 Unrealized —

CEPO CANTOR EQUITY PARTNERS I INC 0.0%

Value ($000) $1,145 Shares 110,000 Est. Cost $10.11 Unrealized +3.4%

SOCAW SOLARIUS CAPITAL ACQU CORP 0.0%

Value ($000) $42 Shares 150,000 Est. Cost $0.25 Unrealized —

FIGXW FIGX CAP ACQUISITION CORP. 0.0%

Value ($000) $17 Shares 62,501 Est. Cost $0.24 Unrealized —

— REDWOOD TRUST INC 0.0%

Value ($000) $2,512 Shares 2,500,000 Est. Cost $0.85 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SNDK	SANDISK CORP	234,697	$55,712	0.4%	$46.96	+326.5%	COM	80004C200
GLD	SPDR GOLD TR	488,900	$193,756	1.5%	—	—	PUT	78463V107
FETH	FIDELITY ETHEREUM FD	1,126,139	$33,345	0.3%	$31.33	—	SHS	31613E103
—	PELOTON INTERACTIVE INC	22,500,000	$37,438	0.3%	$1.84	—	NOTE 5.500%12/0	70614WAD2
TSM	TAIWAN SEMICONDUCTOR MFG LTD	338,900	$102,988	0.8%	—	—	PUT	874039100
ETHW	BITWISE ETHEREUM ETF	833,682	$17,732	0.1%	$23.39	—	SHS	091955104
—	WAYFAIR INC	24,805,000	$56,887	0.4%	$1.89	—	NOTE 3.500%11/1	94419LAR2
CNK	CINEMARK HLDGS INC	834,600	$19,396	0.2%	—	—	PUT	17243V102
ETH	GRAYSCALE ETHEREUM MINI TR E	311,141	$8,731	0.1%	$23.72	—	SHS NEW	38964R203
SOLV	SOLVENTUM CORP	388,022	$30,747	0.2%	$65.53	+16.9%	COM SHS	83444M101
SLV	ISHARES SILVER TR	101,800	$6,558	0.1%	—	—	PUT	46428Q109
JETS	ETF SER SOLUTIONS	513,300	$14,408	0.1%	—	—	PUT	26922A842
KWEB	KRANESHARES TRUST	200,000	$6,810	0.1%	—	—	PUT	500767306
NIO	NIO INC	602,500	$3,073	0.0%	$7.51	—	PUT	62914V106
WDC	WESTERN DIGITAL CORP	28,747	$4,952	0.0%	$50.49	+200.2%	COM	958102105
PTON	PELOTON INTERACTIVE INC	502,400	$3,095	0.0%	—	—	PUT	70614W100
—	NIO INC	9,300,000	$8,434	0.1%	$0.86	—	NOTE 4.625%10/1	62914VAK2
ETHV	VANECK ETHEREUM TR	72,028	$3,129	0.0%	$60.93	—	SHS	92189L103
CON	CONCENTRA GROUP HOLDINGS PAR	862,750	$16,979	0.1%	$20.50	-2.6%	COMMON STOCK	20603L102
C	CITIGROUP INC	72,000	$8,402	0.1%	—	—	PUT	172967424
GOOG	ALPHABET INC	14,700	$4,613	0.0%	—	—	PUT	02079K107
—	DUKE ENERGY CORP NEW	20,000,000	$20,626	0.2%	$1.07	—	NOTE 4.125% 4/1	26441CBY0
PTON	PELOTON INTERACTIVE INC	307,000	$1,891	0.0%	—	—	CALL	70614W100
BUD	ANHEUSER BUSCH INBEV SA/NV	185,796	$11,898	0.1%	$58.58	—	SPONSORED ADR	03524A108
—	TXNM ENERGY INC	22,500,000	$30,259	0.2%	$1.30	—	NOTE 5.750% 6/0	69349HAF4
—	TWO HARBORS INVENTMENT CORPO	62,077,000	$62,178	0.5%	$0.90	—	NOTE 6.250% 1/1	90187BAB7
TRIP	TRIPADVISOR INC	417,200	$6,074	0.0%	$14.89	+2.2%	PUT	896945201
TRIP	TRIPADVISOR INC	417,160	$6,074	0.0%	$14.89	+2.2%	COM	896945201
PLD	PROLOGIS INC.	50,000	$6,383	0.1%	—	—	PUT	74340W103
BAC	BANK AMERICA CORP	166,800	$9,174	0.1%	—	—	PUT	060505104
ALHC	ALIGNMENT HEALTHCARE INC	225,400	$4,452	0.0%	—	—	CALL	01625V104
TCOM	TRIP COM GROUP LTD	123,600	$8,888	0.1%	—	—	PUT	89677Q107
—	PENNYMAC CORP	20,250,000	$21,359	0.2%	$1.02	—	NOTE 8.500% 6/0	70932AAH6
TRIP	TRIPADVISOR INC	231,800	$3,375	0.0%	$14.89	+2.2%	CALL	896945201
EZET	FRANKLIN ETHEREUM TR	39,678	$894	0.0%	$31.59	—	ETHEREUM ETF	35351J109
SCCO	SOUTHERN COPPER CORP	15,000	$2,152	0.0%	$87.17	+52.3%	PUT	84265V105
—	NABORS INDS INC	5,000,000	$4,059	0.0%	$0.77	—	NOTE 1.750% 6/1	62957HAL9
TETH	21SHARES ETHEREUM ETF	40,215	$596	0.0%	$20.80	—	SHS	04071F102
—	PAR TECHNOLOGY CORP	4,830,000	$4,910	0.0%	$1.58	—	NOTE 2.875% 4/1	698884AC7
RKLB	ROCKET LAB CORP	10,000	$698	0.0%	$31.06	+84.6%	PUT	773121108
DAL	DELTA AIR LINES INC DEL	16,500	$1,145	0.0%	—	—	PUT	247361702
LUV	SOUTHWEST AIRLS CO	20,000	$827	0.0%	—	—	PUT	844741108
AUR	AURORA INNOVATION INC	110,000	$422	0.0%	—	—	PUT	051774107
AAL	AMERICAN AIRLS GROUP INC	38,700	$593	0.0%	—	—	PUT	02376R102
CMPR	CIMPRESS PLC	41,000	$2,730	0.0%	—	—	PUT	G2143T103
LOKVW	LIVE OAK ACQUISITION CORP V	200,000	$197	0.0%	$0.70	—	*W EXP 99/99/999	G5509P110
—	MARRIOTT VACATIONS WORLDWIDE	16,500,000	$15,731	0.1%	$0.91	—	NOTE 3.250%12/1	57164YAF4
AACBR	ARTIUS II ACQUISITION INC	500,000	$185	0.0%	$0.28	—	RIGHT 11/27/2029	G0509J123
ONCH	1RT ACQUISITION CORP.	249,304	$2,543	0.0%	$10.28	+0.2%	USD CL A ORD SHS	G6757R105
AACB	ARTIUS II ACQUISITION INC	499,998	$5,150	0.0%	$10.02	+2.3%	SHS CL A	G0509J115
SDHI	SIDDHI ACQUISITION CORP	300,000	$3,084	0.0%	$10.11	+1.2%	CL A SHS	G8118C124
—	PENNYMAC CORP	21,840,000	$21,845	0.2%	$0.99	—	NOTE 5.500% 3/1	70932AAF0
SOCA	SOLARIUS CAPITAL ACQU CORP	300,000	$3,015	0.0%	$9.98	+1.0%	SHS CL A	G82617104
PAII	PYROPHYTE ACQUISITION CORP.	250,000	$2,515	0.0%	$9.94	+1.3%	CL A SHS	G7309T102
PMTRW	PERIMETER ACQUISITION CORP I	200,000	$142	0.0%	$0.60	—	*W EXP 05/13/203	G7010A111
GTENW	GORES HLDGS X INC	125,000	$116	0.0%	$0.76	—	*W EXP 05/02/203	G4002F125
GTEN	GORES HLDGS X INC	500,000	$5,125	0.0%	$10.22	+1.0%	SHS CL A	G4002F109
—	GLADSTONE CAP CORP	7,500,000	$7,349	0.1%	$0.98	—	NOTE 5.875%10/0	376535AG5
ONCHW	1RT ACQUISITION CORP.	62,501	$36	0.0%	$0.89	—	*W EXP 06/26/203	G6757R113
SDHIR	SIDDHI ACQUISITION CORP	300,000	$75	0.0%	$0.23	—	RIGHT 09/15/2029	G8118C116
PCAP	PROCAP ACQUISITION CORP	100,002	$1,013	0.0%	$10.31	-0.6%	SHS CL A	G7257A105
JENA	JENA ACQUISITION CORP II	699,900	$7,118	0.1%	$10.14	+0.6%	USD CL A ORD SHS	G5093B105
TSLX	SIXTH STREET SPECIALTY LENDI	10,200	$222	0.0%	—	—	PUT	83012A109
PCAPW	PROCAP ACQUISITION CORP	33,334	$10	0.0%	$0.65	—	*W EXP 05/16/203	G7257A121
FIGX	FIGX CAP ACQUISITION CORP.	125,002	$1,258	0.0%	$10.00	+0.6%	USD CL A ORD SHS	G3473K100
LOKV	LIVE OAK ACQUISITION CORP V	396,951	$4,089	0.0%	$10.26	+0.1%	CL A SHS	G5509P102
HCMAW	HCM III ACQUISITION CORP	33,334	$16	0.0%	$0.71	—	*W EXP 07/23/203	G4365E111
HCMA	HCM III ACQUISITION CORP	100,002	$1,004	0.0%	$10.10	+0.7%	ORD SHS CL A	G4365E103
PAII/WS	PYROPHYTE ACQUISITION CORP.	125,000	$50	0.0%	$0.35	—	*W EXP 07/30/203	G7309T110
CEPO	CANTOR EQUITY PARTNERS I INC	110,000	$1,145	0.0%	$10.11	+3.4%	SHS CL A	G1827K107
SOCAW	SOLARIUS CAPITAL ACQU CORP	150,000	$42	0.0%	$0.25	—	*W EXP 07/10/203	G82617112
FIGXW	FIGX CAP ACQUISITION CORP.	62,501	$17	0.0%	$0.24	—	*W EXP 06/17/203	G3473K118
—	REDWOOD TRUST INC	2,500,000	$2,512	0.0%	$0.85	—	NOTE 7.750% 6/1	758075AF2