Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	550,000	$205M	16.0%	—	—	COM	594918104
MSFT	MICROSOFT CORP	550,000	$205M	16.0%	—	—	PUT	594918104
MU	MICRON TECHNOLOGY INC	125,000	$144M	11.3%	—	—	COM	595112103
MU	MICRON TECHNOLOGY INC	125,000	$144M	11.3%	—	—	PUT	595112103
TSLA	TESLA INC	300,000	$126M	9.9%	—	—	PUT	88160R101
TSLA	TESLA INC	300,000	$126M	9.9%	—	—	COM	88160R101
AMZN	AMAZON COM INC	150,000	$35.75M	2.8%	—	—	COM	023135106
AMZN	AMAZON COM INC	150,000	$35.75M	2.8%	—	—	PUT	023135106
CLBK	COLUMBIA FINL INC	944,900	$20.05M	1.6%	—	—	CALL	197641103
NVDA	NVIDIA CORPORATION	100,000	$20.01M	1.6%	—	—	PUT	67066G104
NVDA	NVIDIA CORPORATION	100,000	$20.01M	1.6%	—	—	COM	67066G104
EOSE	EOS ENERGY ENTERPRISES INC	1,508,500	$8.87M	0.7%	—	—	PUT	29415C101
EOSE	EOS ENERGY ENTERPRISES INC	1,235,459	$7.264M	0.6%	—	—	COM CL A	29415C101
RSP	INVESCO EXCHANGE TRADED FD T	20,000	$4.255M	0.3%	—	—	CALL	46137V357
BSX	BOSTON SCIENTIFIC CORP	75,000	$3.169M	0.2%	—	—	CALL	101137107
IBIT	ISHARES BITCOIN TRUST ETF	70,000	$2.33M	0.2%	—	—	PUT	46438F101
OPTU	OPTIMUM COMMUNICATIONS INC	1,447,800	$2.099M	0.2%	—	—	PUT	02156K103
OPTU	OPTIMUM COMMUNICATIONS INC	1,407,850	$2.041M	0.2%	—	—	CL A	02156K103
QXO	QXO INC	56,000	$968K	0.1%	—	—	CALL	82846H405
SSTK	SHUTTERSTOCK INC	22,138	$309K	0.0%	—	—	COM	825690100
RMAX	RE/MAX HLDGS INC	25,000	$247K	0.0%	—	—	CL A	75524W108
CLBK	COLUMBIA FINL INC	10,800	$229K	0.0%	—	—	PUT	197641103
PLUG	PLUG PWR INC	75,000	$203K	0.0%	—	—	COM NEW	72919P202
INM	INMED PHARMACEUTICALS INC	125,800	$195K	0.0%	—	—	COM NEW	457637700
GETY	GETTY IMAGES HOLDINGS INC	203,100	$175K	0.0%	—	—	PUT	374275105
CSIQ	CANADIAN SOLAR INC	10,000	$160K	0.0%	—	—	COM	136635109
PSKY	PARAMOUNT SKYDANCE CORP	10,000	$98,600	0.0%	—	—	COM CL B	69932A204
SPCE	VIRGIN GALACTIC HOLDINGS INC	25,000	$72,250	0.0%	—	—	COM NEW	92766K403
GETY	GETTY IMAGES HOLDINGS INC	44	$38	0.0%	—	—	CL A COM	374275105

Increased Positions (8)

— GABELLI EQUITY TR INC 2.5%

Value $31.44M (+1426.1%) Shares 5,555,196 (+1409.9%) Est. Cost — Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 4.4%

Value $56.01M (+72.2%) Shares 75,000 (+50.0%) Est. Cost — Unrealized —

CLBK COLUMBIA FINL INC 2.1%

Value $27.07M (+209.2%) Shares 1,275,888 (+155.2%) Est. Cost — Unrealized —

IWM ISHARES TR 1.2%

Value $15.02M (+101.9%) Shares 50,000 (+66.7%) Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 1.0%

Value $12.22M (+87.5%) Shares 163,200 (+63.2%) Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 0.9%

Value $11.98M (+83.8%) Shares 160,000 (+60.0%) Est. Cost — Unrealized —

NFBK NORTHFIELD BANCORP INC DEL 0.5%

Value $5.892M (+335.2%) Shares 400,000 (+300.0%) Est. Cost — Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.2%

Value $2.477M (-5.2%) Shares 74,400 (+9.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	GABELLI EQUITY TR INC	5,555,196 (+1409.9%)	$31.44M (+1426.1%)	2.5%	—	—	COM	362397101
SPY	STATE STR SPDR S&P 500 ETF T	75,000 (+50.0%)	$56.01M (+72.2%)	4.4%	—	—	PUT	78462F103
CLBK	COLUMBIA FINL INC	1,275,888 (+155.2%)	$27.07M (+209.2%)	2.1%	—	—	COM	197641103
IWM	ISHARES TR	50,000 (+66.7%)	$15.02M (+101.9%)	1.2%	—	—	PUT	464287655
KRE	SPDR SERIES TRUST	163,200 (+63.2%)	$12.22M (+87.5%)	1.0%	—	—	PUT	78464A698
KRE	SPDR SERIES TRUST	160,000 (+60.0%)	$11.98M (+83.8%)	0.9%	—	—	CALL	78464A698
NFBK	NORTHFIELD BANCORP INC DEL	400,000 (+300.0%)	$5.892M (+335.2%)	0.5%	—	—	COM	66611T108
IBIT	ISHARES BITCOIN TRUST ETF	74,400 (+9.4%)	$2.477M (-5.2%)	0.2%	—	—	SHS BEN INT	46438F101

Exited Positions (11)

PEN PENUMBRA INC 1.3%

Value $16.35M Shares 49,800 Est. Cost — Unrealized —

PEN PENUMBRA INC 0.9%

Value $11.49M Shares 35,000 Est. Cost — Unrealized —

WIX WIX COM LTD 0.1%

Value $1.801M Shares 20,000 Est. Cost — Unrealized —

— MORGAN STANLEY CHINA A SH FD 0.1%

Value $1.782M Shares 60,100 Est. Cost — Unrealized —

WOLF WOLFSPEED INC 0.1%

Value $1.637M Shares 100,300 Est. Cost — Unrealized —

SGOV ISHARES TR 0.1%

Value $1.51M Shares 15,000 Est. Cost — Unrealized —

WIX WIX COM LTD 0.1%

Value $1.351M Shares 15,000 Est. Cost — Unrealized —

— MORGAN STANLEY CHINA A SH FD 0.1%

Value $1.227M Shares 70,100 Est. Cost — Unrealized —

IAC IAC INC 0.1%

Value $1.001M Shares 25,000 Est. Cost — Unrealized —

LC LENDINGCLUB ISSUANCE TR SER 0.0%

Value $286K Shares 20,000 Est. Cost — Unrealized —

GAB-R GABELLI EQUITY TR INC 0.0%

Value $210K Shares 29,991,406 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PEN	PENUMBRA INC	49,800	$16.35M	1.3%	—	—	PUT	70975L107
PEN	PENUMBRA INC	35,000	$11.49M	0.9%	—	—	—	70975L107
WIX	WIX COM LTD	20,000	$1.801M	0.1%	—	—	PUT	M98068105
—	MORGAN STANLEY CHINA A SH FD	60,100	$1.782M	0.1%	—	—	PUT	617468103
WOLF	WOLFSPEED INC	100,300	$1.637M	0.1%	—	—	CALL	97785W106
SGOV	ISHARES TR	15,000	$1.51M	0.1%	—	—	—	46436E718
WIX	WIX COM LTD	15,000	$1.351M	0.1%	—	—	—	M98068105
—	MORGAN STANLEY CHINA A SH FD	70,100	$1.227M	0.1%	—	—	—	617468103
IAC	IAC INC	25,000	$1.001M	0.1%	—	—	—	44891N208
LC	LENDINGCLUB ISSUANCE TR SER	20,000	$286K	0.0%	—	—	CALL	52603A208
GAB-R	GABELLI EQUITY TR INC	29,991,406	$210K	0.0%	—	—	—	362397226

Unchanged Positions (1)

— WHEELER REAL ESTATE INVT TR 0.1%

Value $1.61M Shares 161,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	WHEELER REAL ESTATE INVT TR	161,000	$1.61M	0.1%	—	—	CV PFD SER B	963025309