Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	GMS INC	1,053,276	$43.97M	11.6%	$41.75	—	COM	36251C103
ADNT	ADIENT PLC	585,111	$25.86M	6.8%	$37.76	0.0%	ORD SHS	G0084W101
—	MASONITE INTL CORP	208,459	$24.02M	6.4%	$115.24	—	COM	575385109
HWM	HOWMET AEROSPACE INC	497,981	$16M	4.2%	$28.40	0.0%	COM	443201108
—	UNIVAR SOLUTIONS USA INC	686,166	$14.78M	3.9%	$21.54	—	COM	91336L107
—	WELBILT INC	852,316	$13.85M	3.7%	$16.25	—	COM	949090104
—	WW INTL INC	404,582	$12.65M	3.3%	$31.28	—	COM	98262P101
PARR	PAR PAC HOLDINGS INC	817,356	$11.54M	3.1%	$15.55	0.0%	COM NEW	69888T207
LAUR	LAUREATE EDUCATION INC	807,134	$10.97M	2.9%	$14.06	0.0%	CL A	518613203
HY	HYSTER YALE MATLS HANDLING I	121,106	$10.55M	2.8%	$75.31	0.0%	CL A	449172105
ADNT	ADIENT PLC	1,400,000	$10.2M	2.7%	$37.76	0.0%	Call	G0084W101
—	PARTY CITY HOLDCO INC	1,757,424	$10.19M	2.7%	$5.80	—	COM	702149105
PCG	PG&E CORP	804,409	$9.42M	2.5%	$11.48	0.0%	COM	69331C108
—	SPIRIT AEROSYSTEMS HLDGS INC	191,698	$9.326M	2.5%	$48.65	—	COM CL A	848574109
SRG	SERITAGE GROWTH PPTYS	445,268	$8.171M	2.2%	$18.53	0.0%	CL A	81752R100
CMLS	CUMULUS MEDIA INC	842,222	$7.673M	2.0%	$9.82	0.0%	COM CL A	231082801
TBT	PROSHARES TR	302,438	$6.575M	1.7%	$21.74	—	PSHS ULTSH 20YRS	74347B201
—	WELBILT INC	3,048,000	$6.335M	1.7%	$16.25	—	Call	949090104
EPR	EPR PPTYS	130,271	$6.069M	1.6%	$46.59	—	COM SH BEN INT	26884U109
—	GMS INC	1,125,000	$5.898M	1.6%	$41.75	—	Call	36251C103
—	FORTRESS TRANS INFRST INVS L	206,225	$5.813M	1.5%	$28.19	—	COM REP LTD LIAB	34960P101
—	FORUM MERGER IV CORP	550,000	$5.445M	1.4%	$9.90	—	UNIT 03/15/2028	349875203
—	COREPOINT LODGING INC	598,344	$5.403M	1.4%	$9.03	—	COM	21872L104
IWM	ISHARES TR	2,450,000	$5.236M	1.4%	—	—	Put	464287655
CSTM	CONSTELLIUM SE	348,317	$5.12M	1.4%	$14.36	0.0%	CL A SHS	F21107101
RITM	NEW RESIDENTIAL INVT CORP	415,377	$4.673M	1.2%	$11.25	—	COM NEW	64828T201
GSM	FERROGLOBE PLC	1,221,519	$4.617M	1.2%	$2.90	0.0%	SHS	G33856108
HWM	HOWMET AEROSPACE INC	1,550,000	$4.218M	1.1%	$28.40	0.0%	Call	443201108
PARR	PAR PAC HOLDINGS INC	2,350,000	$3.298M	0.9%	$15.55	0.0%	Call	69888T207
EPR	EPR PPTYS	850,000	$2.971M	0.8%	$46.59	—	Call	26884U109
SPY	SPDR S&P 500 ETF TR	2,700,000	$2.811M	0.7%	—	—	Put	78462F103
—	PARTY CITY HOLDCO INC	2,550,000	$2.801M	0.7%	$5.80	—	Call	702149105
—	SPIRIT AEROSYSTEMS HLDGS INC	600,000	$2.768M	0.7%	$48.65	—	Call	848574109
AIR	AAR CORP	1,000,000	$2.68M	0.7%	—	—	Call	000361105
—	PINE TECHNOLOGY ACQUISITN CO	235,000	$2.331M	0.6%	$9.92	—	UNIT 03/31/2028	722850203
—	UNIVAR SOLUTIONS USA INC	1,500,000	$2.233M	0.6%	$21.54	—	Call	91336L107
—	TEAM INC	1,338,500	$2.194M	0.6%	$11.54	—	Call	878155100
—	NATIONAL CINEMEDIA INC	423,735	$1.958M	0.5%	$4.62	—	COM	635309107
—	COREPOINT LODGING INC	2,150,000	$1.875M	0.5%	$9.03	—	Call	21872L104
—	FOREST ROAD ACQUISITION COR	181,490	$1.808M	0.5%	$9.96	—	UNIT 99/99/9999	34619V202
—	FORTRESS TRANS INFRST INVS L	950,000	$1.703M	0.5%	$28.19	—	Call	34960P101
LKQ	LKQ CORP	600,000	$1.56M	0.4%	—	—	Call	501889208
CSTM	CONSTELLIUM SE	1,550,000	$1.483M	0.4%	$14.36	0.0%	Call	F21107101
RITM	NEW RESIDENTIAL INVT CORP	1,850,000	$1.445M	0.4%	$11.25	—	Call	64828T201
SRG	SERITAGE GROWTH PPTYS	1,000,000	$1.425M	0.4%	$18.53	0.0%	Call	81752R100
—	ROSECLIFF ACQUISITION CORP I	137,300	$1.362M	0.4%	$9.92	—	UNIT 99/99/9999	77732R202
—	OYSTER ENTERPRISES ACQ CORP	137,204	$1.357M	0.4%	$9.89	—	UNIT 01/20/2026	69242M203
—	WW INTL INC	950,000	$1.311M	0.3%	$31.28	—	Call	98262P101
—	FORTRESS CAPITAL ACQUISITION	120,009	$1.201M	0.3%	$10.01	—	UNIT 99/99/9999	G36427113
VRRM	VERRA MOBILITY CORP	1,450,000	$1.089M	0.3%	—	—	Call	92511U102
—	MASONITE INTL CORP	100,000	$805K	0.2%	$115.24	—	Call	575385109
CHEF	CHEFS WHSE INC	750,000	$781K	0.2%	—	—	Call	163086101
—	ARES ACQUISITION CORPORATION	75,000	$750K	0.2%	$10.00	—	UNIT 99/99/9999	G33032114
—	TCW SPECIAL PURPOSE ACQU COR	75,000	$746K	0.2%	$9.95	—	UNIT 99/99/9999	87301L205
—	FAST ACQUISITION CORP II	75,000	$746K	0.2%	$9.95	—	UNIT 03/16/2026	311874200
—	VIRTUOSO ACQUISITION CORP	75,000	$740K	0.2%	$9.87	—	UNIT 01/14/2025	92837J203
—	TEAM INC	57,203	$660K	0.2%	$11.54	—	COM	878155100
—	COLONY CR REAL ESTATE INC	63,358	$540K	0.1%	$8.52	—	COM CL A	19625T101
—	WARBURG PINCUS CAPTAL CORP I	51,000	$514K	0.1%	$10.08	—	UNIT 99/99/9999	G9461D123
—	CONX CORP	50,000	$513K	0.1%	$10.26	—	UNIT 10/30/2027	212873202
—	CONCORD ACQUISITION CORP	50,000	$513K	0.1%	$10.26	—	UNIT 12/28/2025	206071201
—	NORTHERN STAR INVSTMNT CORP	50,000	$510K	0.1%	$10.20	—	UNIT 01/31/2028	66573W206
—	CORNER GROWTH ACQUISITION CO	50,000	$505K	0.1%	$10.10	—	UNIT 01/01/2027	G2425N121
—	FAR PEAK ACQUISITION CORP	50,000	$505K	0.1%	$10.10	—	UNIT 99/99/9999	G3312L129
—	LOCUST WALK ACQUISITION CORP	50,000	$503K	0.1%	$10.06	—	UNIT 12/31/2025	54015L301
—	MOTIVE CAPITAL CORP	50,000	$503K	0.1%	$10.06	—	UNIT 99/99/9999	G6293A129
—	SIMON PROPERTY GRP ACQ HOLDI	50,000	$503K	0.1%	$10.06	—	UNIT 99/99/9999	82880R202
—	EPIPHANY TECHNOLOGY ACQUISIT	50,000	$502K	0.1%	$10.04	—	UNIT 99/99/9999	29429X208
—	GOLDENBRIDGE ACQUISITION LTD	50,000	$500K	0.1%	$10.00	—	UNIT 03/02/2026	G3970D112
—	CF FIN ACQUISITION CORP III	50,000	$500K	0.1%	$10.00	—	CL A	12529D108
—	DELWINDS INS ACQUISITION COR	50,000	$500K	0.1%	$10.00	—	UNIT 99/99/9999	24803C201
—	BRIGHT LIGHTS ACQUISITION CO	50,000	$498K	0.1%	$9.96	—	UNIT 99/99/9999	10920K200
EEX	EMERALD HOLDING INC	90,178	$498K	0.1%	$5.14	0.0%	COM	29103W104
—	SPORTSTEK ACQUISITION CORP	50,000	$497K	0.1%	$9.94	—	UNIT 02/16/2028	849196209
—	MASON INDUSTRIAL TECHNOLGY I	50,000	$497K	0.1%	$9.94	—	UNIT 99/99/9999	57520Y205
—	BOA ACQUISITION CORP	50,000	$496K	0.1%	$9.92	—	UNIT 99/99/9999	05601A208
—	BIOTECH ACQUISITION COMPANY	50,000	$495K	0.1%	$9.90	—	UNIT 11/30/2027	G1125A124
—	CERBERUS TELECOM ACQUISITION	50,000	$495K	0.1%	$9.90	—	SHS CL A	G2040C104
—	CA HEALTHCARE ACQUISITION CO	50,000	$495K	0.1%	$9.90	—	UNIT 12/25/2025	12510W206
—	PONTEM CORPORATION	50,000	$495K	0.1%	$9.90	—	UNIT 99/99/9999	G71707114
—	ATLANTIC COASTAL ACQUISTN CO	50,000	$493K	0.1%	$9.86	—	UNIT 03/02/2026	048453203
—	GOLDEN ARROW MERGER CORP	49,546	$493K	0.1%	$9.95	—	UNIT 07/31/2026	380799205
—	ASSERTIO HOLDINGS INC	614,602	$419K	0.1%	$0.68	—	COM STK	04546C106
—	LEFTERIS ACQUISITION CORP	39,700	$407K	0.1%	$10.25	—	UNIT 11/01/2023	52470X208
—	IG ACQUISITION CORP	39,200	$401K	0.1%	$10.23	—	UNIT 10/05/2027	449534205
HYPR	HEALTHCOR CATALIO ACQU CORP	40,000	$400K	0.1%	$10.00	—	CL A SHS	G44125105
—	ACIES ACQUISITION CORP	35,831	$357K	0.1%	$9.96	—	CL A	G0103T105
—	PINE IS ACQUISITION CORP	30,000	$309K	0.1%	$10.30	—	UNIT 99/99/9999	722615200
—	TPG PACE TECH OPPORTUNITIES	27,099	$269K	0.1%	$9.93	—	CL A COM	G8990Y103
—	VY GLOBAL GROWTH	25,000	$260K	0.1%	$10.40	—	UNIT 99/99/9999	G9444H126
—	FTAC HERA ACQUISITION CORP	26,000	$260K	0.1%	$10.00	—	UNIT 02/28/2026	G3728Y129
—	GLOBIS ACQUISITION CORP	25,000	$260K	0.1%	$10.40	—	UNIT 11/01/2025	379582208
—	NORTHERN STAR INVEST CORP II	26,000	$259K	0.1%	$9.96	—	UNIT 02/25/2028	66574L209
—	HUDSON EXECUTIVE INVES III	26,000	$258K	0.1%	$9.92	—	UNIT 02/22/2026	44376L206
—	PMV CONSUMER ACQUISITION COR	25,000	$256K	0.1%	$10.24	—	UNIT 08/31/2027	693486201
—	PROPTECH INVESTMENT CORP II	25,000	$255K	0.1%	$10.20	—	UNIT 99/99/9999	743497208
ATMR/U	ALTIMAR ACQUISITION CORP II	25,000	$255K	0.1%	$10.20	—	UNIT 99/99/9999	G03709113
—	CHURCHILL CAPITAL CORP V	25,000	$255K	0.1%	$10.20	—	UNIT 99/99/9999	17144T206
—	7GC & CO HOLDINGS INC	25,000	$254K	0.1%	$10.16	—	UNIT 12/23/2025	81786A206
—	GO ACQUISITION CORP	25,000	$254K	0.1%	$10.16	—	UNIT 08/31/2027	362019200
—	INSU ACQUISITION CORP III	25,000	$253K	0.1%	$10.12	—	UNIT 12/31/2026	457817302
—	COMPUTE HEALTH ACQUISITIN CO	25,000	$252K	0.1%	$10.08	—	UNIT 99/99/9999	204833206
—	SCION TECH GROWTH I	25,000	$252K	0.1%	$10.08	—	UNIT 12/17/2025	G31067120
—	REDBALL ACQUISITION CORP	25,000	$252K	0.1%	$10.08	—	UNIT 99/99/9999	G7417R121
—	POPULATION HEALTH INVS CO IN	25,000	$251K	0.1%	$10.04	—	UNIT 99/99/9999	G71716123
—	ITHAX ACQUISITION CORP	25,000	$251K	0.1%	$10.04	—	UNIT 12/31/2027	G49775110
—	DEEP LAKE CAPITAL ACQUSTN CO	25,000	$251K	0.1%	$10.04	—	UNIT 01/04/2026	G27029126
—	CF ACQUISITION CORP IV	25,000	$251K	0.1%	$10.04	—	UNIT 12/31/2027	12520T201
—	ATLAS CREST INVESTMENT CORP	25,000	$250K	0.1%	$10.00	—	UNIT 99/99/9999	049287204
—	CF ACQUISITION CORP V	25,000	$250K	0.1%	$10.00	—	UNIT 01/25/2026	12520R205
—	THIMBLE POINT ACQUISITION CO	25,000	$250K	0.1%	$10.00	—	UNIT 99/99/9999	88408P206
—	NATIONAL CINEMEDIA INC	400,000	$250K	0.1%	$4.62	—	Call	635309107
—	CBRE ACQUISITION HLDGS INC	25,000	$249K	0.1%	$9.96	—	UNIT 99/99/9999	12510J205
—	CF ACQUISITION CORP VIII	25,000	$248K	0.1%	$9.92	—	UNIT 03/31/2028	12520C208
—	CARNEY TECHNOLOGY ACQU CORP	25,000	$248K	0.1%	$9.92	—	UNIT 12/10/2025	143636207
—	FUSION ACQUISITION CORP II	25,000	$248K	0.1%	$9.92	—	UNIT 02/29/2028	36118N201
—	FTAC OLYMPUS ACQUISITION COR	20,000	$211K	0.1%	$10.55	—	CL A SHS	G37288100
CCRN	CROSS CTRY HEALTHCARE INC	16,916	$211K	0.1%	$10.60	0.0%	COM	227483104
—	KENSINGTON CAPITAL ACQUISITI	20,000	$205K	0.1%	$10.25	—	UNIT 99/99/9999	49006L203
TBA	THOMA BRAVO ADVANTAGE	19,600	$205K	0.1%	$10.46	—	COM CL A	G88272102
—	FIGURE ACQUISITION CORP I	20,000	$202K	0.1%	$10.10	—	UNIT 99/99/9999	302438205
—	CF ACQUISITION CORP VI	20,000	$198K	0.1%	$9.90	—	UNIT 99/99/9999	12521J202
—	MEDICUS SCIENCES ACQUISITION	20,000	$197K	0.1%	$9.85	—	UNIT 99/99/9999	G5960S116
—	FTAC ATHENA ACQUISITION CORP	10,000	$101K	0.0%	$10.10	—	UNIT 99/99/9999	G37283127
—	LIVE OAK MOBILITY ACQUISI CO	10,000	$100K	0.0%	$10.00	—	UNIT 03/01/2028	538126202
—	CARTESIAN GROWTH CORP	10,000	$100K	0.0%	$10.00	—	UNIT 02/26/2028	G19276123
—	ALTITUDE ACQUISITION CORP	10,000	$100K	0.0%	$10.00	—	COM CL A	02156Y103
—	SCP & CO HEALTHCARE ACQUSTN	9,415	$94,000	0.0%	$9.98	—	UNIT 10/27/2025	784065203
HY	HYSTER YALE MATLS HANDLING I	61,000	$92,000	0.0%	$75.31	0.0%	Call	449172105
—	HUDSON EXECUTIVE INVT CORP	8,600	$85,000	0.0%	$9.88	—	COM CL A	443761101
—	BOWX ACQUISITION CORP	5,000	$61,000	0.0%	$12.20	—	UNIT 08/03/2025	103085205
—	ATLAS CREST INVT CORP	4,700	$50,000	0.0%	$10.64	—	UNIT 99/99/9999	049284201
—	PIVOTAL INVESTMENT CORP III	5,000	$50,000	0.0%	$10.00	—	UNIT 01/28/2028	72582M205
—	PATHFINDER ACQUISITION CORP	5,000	$50,000	0.0%	$10.00	—	UNIT 02/17/2026	G04119114
—	WARBURG PINCUS CAPTAL CORP I	5,000	$50,000	0.0%	$10.00	—	UNIT 99/99/9999	G9460M116
—	FOREST ROAD ACQUISITION CORP	4,470	$49,000	0.0%	$10.96	—	UNIT 99/99/9999	34619R201
—	CF FIN ACQUISITION CORP III	16,666	$23,000	0.0%	—	—	Call	12529D116
MYPSW	ACIES ACQUISITION CORP	11,943	$18,000	0.0%	—	—	Call	G0103T113
—	CERBERUS TELECOM ACQUISITION	16,666	$17,000	0.0%	—	—	Call	G2040C120
—	FTAC OLYMPUS ACQUISITION COR	6,666	$14,000	0.0%	—	—	Call	G37288126
—	ALTITUDE ACQUISITION CORP	7,500	$13,000	0.0%	—	—	Call	02156Y111
—	LIBERTY MEDIA ACQUISITION CO	1,000	$11,000	0.0%	$11.00	—	UNIT 01/22/2026	53073L203
—	VPC IMPACT ACQU HOLDI III IN	1,000	$10,000	0.0%	$10.00	—	UNIT 99/99/9999	91835J207
—	VELOCITY ACQUISITION CORP	1,000	$10,000	0.0%	$10.00	—	UNIT 99/99/9999	92259E203
—	KISMET ACQUISITION TWO CORP	1,000	$10,000	0.0%	$10.00	—	UNIT 99/99/9999	G52807123
—	VPC IMPACT ACQUISITION HLDG	1,000	$10,000	0.0%	$10.00	—	UNIT 03/05/2026	G9460L100
—	NORTHERN STAR INVEST CORP IV	1,000	$10,000	0.0%	$10.00	—	UNIT 02/25/2028	66575B200
—	TPG PACE TECH OPPORTUNITIES	5,000	$7,000	0.0%	—	—	Call	G8990Y129
SLV	ISHARES SILVER TR	250,000	$4,000	0.0%	—	—	Call	46428Q109