Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	SUPER MICRO COMPUTER INC	5,000,000	$4.428M	14.6%	—	—	NOTE 6/1	86800UAF1
IBIT	ISHARES BITCOIN TRUST ETF	122,400	$4.053M	13.3%	—	—	CALL	46438F101
USO	UNITED STS OIL FD LP	9,400	$1.001M	3.3%	—	—	CALL	91232N207
XRPZ	FRANKLIN XRP TRUST	79,050	$897K	3.0%	—	—	FRANKLIN XRP ETF	355233107
IBIT	ISHARES BITCOIN TRUST ETF	3,500	$116K	0.4%	—	—	PUT	46438F101

Increased Positions (3)

— LIBERTY ALL-STAR GROWTH FD I 10.3%

Value $3.128M (+77.2%) Shares 571,839 (+53.9%) Est. Cost — Unrealized —

— LIBERTY ALL STAR EQUITY FD 13.2%

Value $4.01M (+25.9%) Shares 690,200 (+20.3%) Est. Cost — Unrealized —

— EATON VANCE RISK-MANAGED DIV 1.1%

Value $343K (+115.8%) Shares 41,442 (+113.2%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	LIBERTY ALL-STAR GROWTH FD I	571,839 (+53.9%)	$3.128M (+77.2%)	10.3%	—	—	COM	529900102
—	LIBERTY ALL STAR EQUITY FD	690,200 (+20.3%)	$4.01M (+25.9%)	13.2%	—	—	SH BEN INT	530158104
—	EATON VANCE RISK-MANAGED DIV	41,442 (+113.2%)	$343K (+115.8%)	1.1%	—	—	COM	27829G106

Exited Positions (7)

ETH GRAYSCALE ETHEREUM STAKING 5.3%

Value $1.605M Shares 80,800 Est. Cost — Unrealized —

— XAI OCTAGN FLT RAT & ALT INM 5.1%

Value $1.545M Shares 89,904 Est. Cost — Unrealized —

SOEZ FRANKLIN SOLANA TR 2.7%

Value $817K Shares 57,400 Est. Cost — Unrealized —

FETH FIDELITY ETHEREUM FD 2.5%

Value $745K Shares 35,700 Est. Cost — Unrealized —

VSOL VANECK SOLANA TR 2.3%

Value $713K Shares 65,395 Est. Cost — Unrealized —

— SABA CAPITAL INCOME & OPRNT 2.1%

Value $637K Shares 94,567 Est. Cost — Unrealized —

CUK CARNIVAL PLC 0.9%

Value $286K Shares 11,110 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ETH	GRAYSCALE ETHEREUM STAKING	80,800	$1.605M	5.3%	—	—	—	38964R203
—	XAI OCTAGN FLT RAT & ALT INM	89,904	$1.545M	5.1%	—	—	—	98400T304
SOEZ	FRANKLIN SOLANA TR	57,400	$817K	2.7%	—	—	—	354646101
FETH	FIDELITY ETHEREUM FD	35,700	$745K	2.5%	—	—	—	31613E103
VSOL	VANECK SOLANA TR	65,395	$713K	2.3%	—	—	—	92200B100
—	SABA CAPITAL INCOME & OPRNT	94,567	$637K	2.1%	—	—	—	78518H202
CUK	CARNIVAL PLC	11,110	$286K	0.9%	—	—	—	14365C103

Decreased Positions (6)

USO UNITED STS OIL FD LP 1.9%

Value $585K (-91.4%) Shares 5,500 (-89.7%) Est. Cost — Unrealized —

— SABA CAPITAL INCOME & OPPORT 1.4%

Value $417K (-59.3%) Shares 49,907 (-59.5%) Est. Cost — Unrealized —

BSOL BITWISE SOLANA STAKING ETF 1.3%

Value $404K (-57.8%) Shares 40,350 (-53.5%) Est. Cost — Unrealized —

ETHB ISHARES STAKED ETHEREUM TR E 1.0%

Value $317K (-62.4%) Shares 15,600 (-50.0%) Est. Cost — Unrealized —

— CLOUGH GLOBAL EQUITY FD 1.6%

Value $486K (-21.2%) Shares 56,323 (-31.2%) Est. Cost — Unrealized —

BZAIW BLAIZE HLDGS INC 0.0%

Value $12,657 (-26.8%) Shares 38,320 (-15.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
USO	UNITED STS OIL FD LP	5,500 (-89.7%)	$585K (-91.4%)	1.9%	—	—	PUT	91232N207
—	SABA CAPITAL INCOME & OPPORT	49,907 (-59.5%)	$417K (-59.3%)	1.4%	—	—	COM NEW	880198205
BSOL	BITWISE SOLANA STAKING ETF	40,350 (-53.5%)	$404K (-57.8%)	1.3%	—	—	COM SHS OF BENEF	091948109
ETHB	ISHARES STAKED ETHEREUM TR E	15,600 (-50.0%)	$317K (-62.4%)	1.0%	—	—	SHS FR UNDIV BEN	46438M106
—	CLOUGH GLOBAL EQUITY FD	56,323 (-31.2%)	$486K (-21.2%)	1.6%	—	—	COM	18914C100
BZAIW	BLAIZE HLDGS INC	38,320 (-15.8%)	$12,657 (-26.8%)	0.0%	—	—	*W EXP 01/13/203	092915115

Unchanged Positions (8)

UVXY PROSHARES TR II 1.2%

Value $356K Shares 14,300 Est. Cost — Unrealized —

— STRATEGY INC 16.9%

Value $5.132M Shares 5,000,000 Est. Cost — Unrealized —

— SRH TOTAL RETURN FUND INC 10.5%

Value $3.204M Shares 178,990 Est. Cost — Unrealized —

— CALAMOS GBL DYN INCOME FUND 1.4%

Value $424K Shares 47,570 Est. Cost — Unrealized —

— CLOUGH GLOBAL DIVID & INCOME 1.5%

Value $470K Shares 70,753 Est. Cost — Unrealized —

— CLOUGH GLOBAL OPPORTUNITIES 1.8%

Value $560K Shares 91,479 Est. Cost — Unrealized —

BULLW WEBULL CORP 0.1%

Value $40,320 Shares 21,000 Est. Cost — Unrealized —

ANNAW ALEANNA INC 0.0%

Value $4,305 Shares 13,896 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UVXY	PROSHARES TR II	14,300	$356K	1.2%	—	—	PUT	74347Y680
—	STRATEGY INC	5,000,000	$5.132M	16.9%	—	—	NOTE 0.625% 9/1	594972AQ4
—	SRH TOTAL RETURN FUND INC	178,990	$3.204M	10.5%	—	—	COM	101507101
—	CALAMOS GBL DYN INCOME FUND	47,570	$424K	1.4%	—	—	COM	12811L107
—	CLOUGH GLOBAL DIVID & INCOME	70,753	$470K	1.5%	—	—	COM	18913Y103
—	CLOUGH GLOBAL OPPORTUNITIES	91,479	$560K	1.8%	—	—	SH BEN INT	18914E106
BULLW	WEBULL CORP	21,000	$40,320	0.1%	—	—	*W EXP 04/10/203	G9572D111
ANNAW	ALEANNA INC	13,896	$4,305	0.0%	—	—	*W EXP 12/13/202	01444V111