Owl Creek Asset Management, L.P. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	1,334,000	$328,377	9.9%	—	—	PUT	464287655
IEF	ISHARES TR	1,604,000	$154,241	4.7%	—	—	PUT	464287440
KWEB	KRANESHARES TRUST	2,465,200	$83,940	2.5%	—	—	CALL	500767306
RJET	REPUBLIC AWYS HLDGS INC	4,113,312	$75,562	2.3%	$20.80	0.0%	COM SHS	590479408
NVDA	NVIDIA CORPORATION	398,300	$74,283	2.2%	$186.13	0.0%	CALL	67066G104
IGV	ISHARES TR	290,000	$30,650	0.9%	—	—	CALL	464287515
SLV	ISHARES SILVER TR	467,500	$30,116	0.9%	—	—	PUT	46428Q109
DASH	DOORDASH INC	117,394	$26,587	0.8%	$234.56	0.0%	CL A	25809K105
NVDA	NVIDIA CORPORATION	120,611	$22,494	0.7%	$186.13	0.0%	COM	67066G104
EWY	ISHARES INC	228,263	$22,192	0.7%	$97.22	—	MSCI STH KOR ETF	464286772
ORCL	ORACLE CORP	111,500	$21,732	0.7%	$238.05	0.0%	CALL	68389X105
AVGO	BROADCOM INC	54,533	$18,874	0.6%	$357.00	0.0%	COM	11135F101
DHR	DANAHER CORPORATION	63,443	$14,523	0.4%	$219.54	0.0%	COM	235851102
SE	SEA LTD	111,350	$14,205	0.4%	$127.57	—	SPONSORD ADS	81141R100
ORCL	ORACLE CORP	72,287	$14,089	0.4%	$238.05	0.0%	COM	68389X105
APP	APPLOVIN CORP	11,706	$7,888	0.2%	$630.10	0.0%	COM CL A	03831W108
HUT	HUT 8 CORP	77,731	$3,571	0.1%	$44.08	0.0%	COM	44812J104
BTM	BITCOIN DEPOT INC	1,500,000	$1,935	0.1%	$15.34	0.0%	COM	09174P105

Increased Positions (11)

QQQ INVESCO QQQ TR 47.4%

Value ($000) $1,570,914 (+279.2%) Shares 2,557,200 (+270.6%) Est. Cost — Unrealized —

HUM HUMANA INC 0.9%

Value ($000) $28,359 (+653.4%) Shares 110,723 (+665.2%) Est. Cost $261.09 Unrealized +0.1%

PLTR PALANTIR TECHNOLOGIES INC 1.1%

Value ($000) $36,528 (+155.1%) Shares 205,500 (+161.8%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 1.0%

Value ($000) $32,408 (+68.9%) Shares 67,011 (+80.9%) Est. Cost $462.87 Unrealized +8.1%

TSLA TESLA INC 0.6%

Value ($000) $20,687 (+147.4%) Shares 46,000 (+144.7%) Est. Cost — Unrealized —

FLUT FLUTTER ENTMT PLC 0.8%

Value ($000) $26,600 (+50.5%) Shares 123,697 (+77.7%) Est. Cost $223.00 Unrealized +0.9%

FTAI FTAI AVIATION LTD 1.6%

Value ($000) $52,843 (+20.3%) Shares 268,441 (+2.0%) Est. Cost $114.39 Unrealized +48.8%

UAL UNITED AIRLS HLDGS INC 1.0%

Value ($000) $31,779 (+37.1%) Shares 284,195 (+18.4%) Est. Cost $96.93 Unrealized +4.3%

SKYW SKYWEST INC 1.0%

Value ($000) $31,945 (+26.5%) Shares 318,148 (+26.7%) Est. Cost $104.25 Unrealized -4.0%

VST VISTRA CORP 0.7%

Value ($000) $24,742 (+30.8%) Shares 153,364 (+58.9%) Est. Cost $160.23 Unrealized +13.5%

CRWV COREWEAVE INC 0.3%

Value ($000) $10,742 (+12.1%) Shares 150,000 (+114.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	2,557,200 (+270.6%)	$1,570,914 (+279.2%)	47.4%	—	—	PUT	46090E103
HUM	HUMANA INC	110,723 (+665.2%)	$28,359 (+653.4%)	0.9%	$261.09	+0.1%	COM	444859102
PLTR	PALANTIR TECHNOLOGIES INC	205,500 (+161.8%)	$36,528 (+155.1%)	1.1%	—	—	PUT	69608A108
MSFT	MICROSOFT CORP	67,011 (+80.9%)	$32,408 (+68.9%)	1.0%	$462.87	+8.1%	COM	594918104
TSLA	TESLA INC	46,000 (+144.7%)	$20,687 (+147.4%)	0.6%	—	—	PUT	88160R101
FLUT	FLUTTER ENTMT PLC	123,697 (+77.7%)	$26,600 (+50.5%)	0.8%	$223.00	+0.9%	SHS	G3643J108
FTAI	FTAI AVIATION LTD	268,441 (+2.0%)	$52,843 (+20.3%)	1.6%	$114.39	+48.8%	SHS	G3730V105
UAL	UNITED AIRLS HLDGS INC	284,195 (+18.4%)	$31,779 (+37.1%)	1.0%	$96.93	+4.3%	COM	910047109
SKYW	SKYWEST INC	318,148 (+26.7%)	$31,945 (+26.5%)	1.0%	$104.25	-4.0%	COM	830879102
VST	VISTRA CORP	153,364 (+58.9%)	$24,742 (+30.8%)	0.7%	$160.23	+13.5%	COM	92840M102
CRWV	COREWEAVE INC	150,000 (+114.3%)	$10,742 (+12.1%)	0.3%	—	—	CALL	21873S108

Exited Positions (27)

SPY SPDR S&P 500 ETF TR 32.4%

Value ($000) $1,072,550 Shares 1,610,000 Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 2.7%

Value ($000) $87,936 Shares 132,000 Est. Cost — Unrealized —

AMZN AMAZON COM INC 1.6%

Value ($000) $52,850 Shares 240,700 Est. Cost $179.52 Unrealized +27.4%

LYFT LYFT INC 1.5%

Value ($000) $49,346 Shares 2,242,000 Est. Cost $16.73 Unrealized +24.2%

UBER UBER TECHNOLOGIES INC 1.3%

Value ($000) $44,537 Shares 454,600 Est. Cost $46.22 Unrealized +94.8%

UNH UNITEDHEALTH GROUP INC 1.1%

Value ($000) $34,875 Shares 101,000 Est. Cost $369.31 Unrealized -8.7%

NVDA NVIDIA CORPORATION 1.0%

Value ($000) $32,652 Shares 175,000 Est. Cost $186.13 Unrealized 0.0%

GD GENERAL DYNAMICS CORP 0.9%

Value ($000) $30,904 Shares 90,629 Est. Cost $313.76 Unrealized +8.6%

META META PLATFORMS INC 0.8%

Value ($000) $26,046 Shares 35,467 Est. Cost $464.05 Unrealized +43.8%

CZR CAESARS ENTERTAINMENT INC NE 0.7%

Value ($000) $22,255 Shares 823,501 Est. Cost $27.09 Unrealized -17.0%

FLUT FLUTTER ENTMT PLC 0.6%

Value ($000) $21,133 Shares 83,200 Est. Cost $223.00 Unrealized +0.9%

KRE SPDR SERIES TRUST 0.6%

Value ($000) $20,034 Shares 316,500 Est. Cost — Unrealized —

CVS CVS HEALTH CORP 0.6%

Value ($000) $19,530 Shares 259,059 Est. Cost $67.82 Unrealized +16.0%

UNH UNITEDHEALTH GROUP INC 0.6%

Value ($000) $18,256 Shares 52,871 Est. Cost $369.31 Unrealized -8.7%

TDG TRANSDIGM GROUP INC 0.5%

Value ($000) $17,924 Shares 13,599 Est. Cost $1364.80 Unrealized -4.0%

JD JD.COM INC 0.5%

Value ($000) $15,663 Shares 447,771 Est. Cost $34.98 Unrealized —

DKNG DRAFTKINGS INC NEW 0.5%

Value ($000) $15,585 Shares 416,700 Est. Cost $41.48 Unrealized -20.7%

RKT ROCKET COS INC 0.4%

Value ($000) $14,308 Shares 738,285 Est. Cost $17.44 Unrealized +2.5%

PENN PENN ENTERTAINMENT INC 0.4%

Value ($000) $13,482 Shares 700,000 Est. Cost — Unrealized —

HII HUNTINGTON INGALLS INDS INC 0.4%

Value ($000) $12,064 Shares 41,902 Est. Cost $264.43 Unrealized +17.0%

PDD PDD HOLDINGS INC 0.4%

Value ($000) $11,860 Shares 89,732 Est. Cost $132.17 Unrealized —

KVUE KENVUE INC 0.3%

Value ($000) $11,050 Shares 680,822 Est. Cost $20.06 Unrealized -19.0%

RKT ROCKET COS INC 0.2%

Value ($000) $8,149 Shares 420,500 Est. Cost $17.44 Unrealized +2.5%

HOG HARLEY DAVIDSON INC 0.1%

Value ($000) $4,883 Shares 175,000 Est. Cost — Unrealized —

BAC BANK AMERICA CORP 0.1%

Value ($000) $3,896 Shares 75,524 Est. Cost $48.34 Unrealized +8.9%

QURE UNIQURE NV 0.1%

Value ($000) $2,883 Shares 49,389 Est. Cost $18.16 Unrealized +112.5%

AERTW AERIES TECHNOLOGY INC 0.0%

Value ($000) $4 Shares 100,000 Est. Cost $0.09 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	1,610,000	$1,072,550	32.4%	—	—	PUT	78462F103
SPY	SPDR S&P 500 ETF TR	132,000	$87,936	2.7%	—	—	CALL	78462F103
AMZN	AMAZON COM INC	240,700	$52,850	1.6%	$179.52	+27.4%	CALL	023135106
LYFT	LYFT INC	2,242,000	$49,346	1.5%	$16.73	+24.2%	CALL	55087P104
UBER	UBER TECHNOLOGIES INC	454,600	$44,537	1.3%	$46.22	+94.8%	CALL	90353T100
UNH	UNITEDHEALTH GROUP INC	101,000	$34,875	1.1%	$369.31	-8.7%	CALL	91324P102
NVDA	NVIDIA CORPORATION	175,000	$32,652	1.0%	$186.13	0.0%	PUT	67066G104
GD	GENERAL DYNAMICS CORP	90,629	$30,904	0.9%	$313.76	+8.6%	—	369550108
META	META PLATFORMS INC	35,467	$26,046	0.8%	$464.05	+43.8%	—	30303M102
CZR	CAESARS ENTERTAINMENT INC NE	823,501	$22,255	0.7%	$27.09	-17.0%	—	12769G100
FLUT	FLUTTER ENTMT PLC	83,200	$21,133	0.6%	$223.00	+0.9%	CALL	G3643J108
KRE	SPDR SERIES TRUST	316,500	$20,034	0.6%	—	—	PUT	78464A698
CVS	CVS HEALTH CORP	259,059	$19,530	0.6%	$67.82	+16.0%	—	126650100
UNH	UNITEDHEALTH GROUP INC	52,871	$18,256	0.6%	$369.31	-8.7%	—	91324P102
TDG	TRANSDIGM GROUP INC	13,599	$17,924	0.5%	$1364.80	-4.0%	—	893641100
JD	JD.COM INC	447,771	$15,663	0.5%	$34.98	—	—	47215P106
DKNG	DRAFTKINGS INC NEW	416,700	$15,585	0.5%	$41.48	-20.7%	CALL	26142V105
RKT	ROCKET COS INC	738,285	$14,308	0.4%	$17.44	+2.5%	—	77311W101
PENN	PENN ENTERTAINMENT INC	700,000	$13,482	0.4%	—	—	CALL	707569109
HII	HUNTINGTON INGALLS INDS INC	41,902	$12,064	0.4%	$264.43	+17.0%	—	446413106
PDD	PDD HOLDINGS INC	89,732	$11,860	0.4%	$132.17	—	—	722304102
KVUE	KENVUE INC	680,822	$11,050	0.3%	$20.06	-19.0%	—	49177J102
RKT	ROCKET COS INC	420,500	$8,149	0.2%	$17.44	+2.5%	CALL	77311W101
HOG	HARLEY DAVIDSON INC	175,000	$4,883	0.1%	—	—	CALL	412822108
BAC	BANK AMERICA CORP	75,524	$3,896	0.1%	$48.34	+8.9%	—	060505104
QURE	UNIQURE NV	49,389	$2,883	0.1%	$18.16	+112.5%	—	N90064101
AERTW	AERIES TECHNOLOGY INC	100,000	$4	0.0%	$0.09	—	—	G0136H110

Decreased Positions (13)

EWY ISHARES INC 0.2%

Value ($000) $7,126 (-96.4%) Shares 73,300 (-97.0%) Est. Cost $97.22 Unrealized —

LYFT LYFT INC 0.3%

Value ($000) $10,683 (-80.5%) Shares 551,524 (-77.8%) Est. Cost $16.73 Unrealized +24.2%

AAL AMERICAN AIRLS GROUP INC 0.5%

Value ($000) $17,323 (-69.6%) Shares 1,130,000 (-77.7%) Est. Cost — Unrealized —

BWXT BWX TECHNOLOGIES INC 0.4%

Value ($000) $14,316 (-55.1%) Shares 82,829 (-52.1%) Est. Cost $160.55 Unrealized +16.7%

GEV GE VERNOVA INC 0.6%

Value ($000) $18,414 (-47.5%) Shares 28,174 (-50.6%) Est. Cost $415.97 Unrealized +46.4%

DKNG DRAFTKINGS INC NEW 0.8%

Value ($000) $27,566 (-34.9%) Shares 799,953 (-29.4%) Est. Cost $41.48 Unrealized -20.7%

TLN TALEN ENERGY CORP 1.1%

Value ($000) $35,848 (-27.4%) Shares 95,635 (-17.6%) Est. Cost $237.27 Unrealized +63.8%

IWM ISHARES TR 0.8%

Value ($000) $25,231 (-34.0%) Shares 102,500 (-35.1%) Est. Cost — Unrealized —

CW CURTISS WRIGHT CORP 0.5%

Value ($000) $15,111 (-43.6%) Shares 27,411 (-44.4%) Est. Cost $492.21 Unrealized +13.3%

UBER UBER TECHNOLOGIES INC 0.4%

Value ($000) $11,845 (-43.6%) Shares 144,965 (-32.4%) Est. Cost $46.22 Unrealized +94.8%

PCG PG&E CORP 2.6%

Value ($000) $85,676 (-6.9%) Shares 5,331,418 (-12.7%) Est. Cost $14.57 Unrealized +9.3%

AMZN AMAZON COM INC 1.1%

Value ($000) $36,984 (-13.3%) Shares 160,230 (-17.6%) Est. Cost $179.52 Unrealized +27.4%

CYH COMMUNITY HEALTH SYS INC NEW 0.1%

Value ($000) $4,773 (-20.2%) Shares 1,529,760 (-17.9%) Est. Cost $3.61 Unrealized -6.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWY	ISHARES INC	73,300 (-97.0%)	$7,126 (-96.4%)	0.2%	$97.22	—	CALL	464286772
LYFT	LYFT INC	551,524 (-77.8%)	$10,683 (-80.5%)	0.3%	$16.73	+24.2%	CL A COM	55087P104
AAL	AMERICAN AIRLS GROUP INC	1,130,000 (-77.7%)	$17,323 (-69.6%)	0.5%	—	—	CALL	02376R102
BWXT	BWX TECHNOLOGIES INC	82,829 (-52.1%)	$14,316 (-55.1%)	0.4%	$160.55	+16.7%	COM	05605H100
GEV	GE VERNOVA INC	28,174 (-50.6%)	$18,414 (-47.5%)	0.6%	$415.97	+46.4%	COM	36828A101
DKNG	DRAFTKINGS INC NEW	799,953 (-29.4%)	$27,566 (-34.9%)	0.8%	$41.48	-20.7%	COM CL A	26142V105
TLN	TALEN ENERGY CORP	95,635 (-17.6%)	$35,848 (-27.4%)	1.1%	$237.27	+63.8%	COM	87422Q109
IWM	ISHARES TR	102,500 (-35.1%)	$25,231 (-34.0%)	0.8%	—	—	CALL	464287655
CW	CURTISS WRIGHT CORP	27,411 (-44.4%)	$15,111 (-43.6%)	0.5%	$492.21	+13.3%	COM	231561101
UBER	UBER TECHNOLOGIES INC	144,965 (-32.4%)	$11,845 (-43.6%)	0.4%	$46.22	+94.8%	COM	90353T100
PCG	PG&E CORP	5,331,418 (-12.7%)	$85,676 (-6.9%)	2.6%	$14.57	+9.3%	COM	69331C108
AMZN	AMAZON COM INC	160,230 (-17.6%)	$36,984 (-13.3%)	1.1%	$179.52	+27.4%	COM	023135106
CYH	COMMUNITY HEALTH SYS INC NEW	1,529,760 (-17.9%)	$4,773 (-20.2%)	0.1%	$3.61	-6.9%	COM	203668108

Unchanged Positions (3)

TSE TRINSEO PLC 0.0%

Value ($000) $830 Shares 1,669,952 Est. Cost $3.45 Unrealized -65.4%

ATEX ANTERIX INC 3.6%

Value ($000) $118,139 Shares 5,411,776 Est. Cost $42.53 Unrealized -51.2%

ASHR DBX ETF TR 2.1%

Value ($000) $70,463 Shares 2,145,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSE	TRINSEO PLC	1,669,952	$830	0.0%	$3.45	-65.4%	SHS	G9059U107
ATEX	ANTERIX INC	5,411,776	$118,139	3.6%	$42.53	-51.2%	COM	03676C100
ASHR	DBX ETF TR	2,145,000	$70,463	2.1%	—	—	CALL	233051879