LuminArx Capital Management LP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	22,500	$14,633	10.7%	$650.34	—	TR UNIT	78462F103
BCSS	BAIN CAP GSS INVT CORP	1,003,379	$10,146	7.4%	$10.16	0.0%	ORD CL A	G0R78B106
SNDA	SONIDA SENIOR LIVING INC	258,750	$8,345	6.1%	$32.91	0.0%	COM	140475203
FTW	PRESIDIO PRODTN CO	250,000	$2,755	2.0%	$11.02	—	CL A COM	74102N101
SARO	STANDARDAERO INC	95,000	$2,454	1.8%	$31.28	0.0%	COM	85423L103
NRG	NRG ENERGY INC	15,000	$2,192	1.6%	$158.48	0.0%	COM NEW	629377508
APTV	APTIV PLC	30,000	$1,765	1.3%	$80.93	0.0%	COM SH	G3265R107
XOP	SPDR SERIES TRUST	7,500	$1,364	1.0%	$181.83	—	STATE STREET SPD	78468R556
VZ	VERIZON COMMUNICATIONS INC	25,000	$1,255	0.9%	$43.82	0.0%	COM	92343V104
EEM	ISHARES TR	20,000	$1,136	0.8%	$56.79	—	MSCI EMG MKT ETF	464287234
CELH	CELSIUS HLDGS INC	30,000	$1,064	0.8%	$50.69	0.0%	COM NEW	15118V207
CZR	CAESARS ENTERTAINMENT INC NE	40,000	$1,057	0.8%	$22.01	0.0%	COM	12769G100
—	ISHARES TR	395,000	$1,050	0.8%	—	—	PUT	464287955
—	NEXTERA ENERGY INC	20,000	$1,003	0.7%	$50.15	—	UNIT 02/15/2029	65339F655
—	BOEING CO	15,000	$970	0.7%	$64.65	—	DEP CONV PFD A	097023204
YOU	CLEAR SECURE INC	20,000	$968	0.7%	$34.63	0.0%	COM CL A	18467V109
—	ORACLE CORP	20,600	$928	0.7%	$45.05	—	6.5 DEP CUM SR D	68389X204
BANC	BANC OF CALIFORNIA INC	50,000	$879	0.6%	$20.16	0.0%	COM	05990K106
NVDA	NVIDIA CORPORATION	5,000	$872	0.6%	$186.63	0.0%	COM	67066G104
INVH	INVITATION HOMES INC	35,000	$870	0.6%	$27.72	0.0%	COM	46187W107
TLT	ISHARES TR	10,000	$867	0.6%	$86.69	—	20 YR TR BD ETF	464287432
—	JOBY AVIATION INC	1,000,000	$859	0.6%	$0.86	—	NOTE 0.750% 2/1	47775AAA9
—	KKR & CO INC	20,000	$802	0.6%	$40.10	—	6.25 CON SER D	48251W500
APC	ARKO PETE CORP	43,963	$786	0.6%	$17.89	—	CL A COM	04124A100
PEP	PEPSICO INC	5,000	$776	0.6%	$154.74	0.0%	COM	713448108
PRMB	PRIMO BRANDS CORPORATION	40,000	$753	0.6%	$18.70	0.0%	CLASS A COM SH	741623102
—	ARES MANAGEMENT CORPORATION	20,000	$726	0.5%	$36.30	—	6.75 SE B PFD	03990B309
—	STATE STR SPDR S&P 500 ETF T	175,000	$724	0.5%	—	—	PUT	78462F953
BHC	BAUSCH HEALTH COS INC	125,000	$675	0.5%	$6.41	0.0%	COM	071734107
BKNG	BOOKING HOLDINGS INC	150	$632	0.5%	$4781.74	0.0%	COM	09857L108
KWEB	KRANESHARES TRUST	20,000	$569	0.4%	$28.43	—	CSI CHI INTERNET	500767306
BTBT	BIT DIGITAL INC	325,000	$426	0.3%	$1.98	0.0%	SH	G1144A105
SHAZ	SHARONAI HOLDINGS INC	14,688	$334	0.2%	$22.73	—	COM CL A	778920306
VGNT	VERSIGENT LTD	10,000	$319	0.2%	$31.85	—	ORDINARY SHARES	G9600F104
RZLV	REZOLVE AI PLC	120,000	$307	0.2%	$2.94	0.0%	ORD SH	G75398100
—	SPDR SERIES TRUST	40,000	$234	0.2%	—	—	PUT	78468R956
XLU	SELECT SECTOR SPDR TR	5,000	$229	0.2%	$45.89	—	STATE STREET UTI	81369Y886
ALOY	REALLOYS INC	20,000	$195	0.1%	$9.76	—	COM	75606V101
—	PEPSICO INC	25,000	$174	0.1%	—	—	PUT	713448958
—	SELECT SECTOR SPDR TR	165,000	$162	0.1%	—	—	PUT	81369Y956
—	CLEAR SECURE INC	50,000	$155	0.1%	—	—	PUT	18467V959
—	CINEMARK HLDGS INC	30,000	$135	0.1%	—	—	CALL	17243V902
—	ISHARES TR	130,000	$133	0.1%	—	—	PUT	464287954
BCSS/WS	BAIN CAP GSS INVT CORP	200,675	$124	0.1%	$0.62	—	*W EXP 01/01/202	G0R78B114
—	NRG ENERGY INC	50,000	$101	0.1%	—	—	CALL	629377908
—	VERIZON COMMUNICATIONS INC	75,000	$98	0.1%	—	—	PUT	92343V954
—	AMAZON COM INC	40,000	$85	0.1%	—	—	CALL	023135906
JAGU	JAGUAR URANIUM CORP	30,000	$83	0.1%	$2.75	—	CL A COM SH	47010E108
BCTX	BRIACELL THERAPEUTICS CORP	15,000	$63	0.0%	$4.99	0.0%	COM	107930307
—	SPDR SERIES TRUST	11,800	$33	0.0%	—	—	PUT	78464A954
—	APTIV PLC	35,000	$32	0.0%	—	—	CALL	G3265R907
BCTXL	BRIACELL THERAPEUTICS CORP	25,000	$26	0.0%	$1.03	—	*W EXP 01/15/203	107930125
—	CELSIUS HLDGS INC	10,000	$11	0.0%	—	—	CALL	15118V907
—	CHIPOTLE MEXICAN GRILL INC	50,000	$10	0.0%	—	—	CALL	169656905
—	NVIDIA CORPORATION	10,000	$7	0.0%	—	—	CALL	67066G904
—	KRANESHARES TRUST	75,000	$2	0.0%	—	—	CALL	500767906
—	ALPS ETF TR	2,000	$2	0.0%	—	—	PUT	00162Q952
WAY	WAYSTAR HLDG CORP	62	$1	0.0%	$27.49	0.0%	COM	946784105

Increased Positions (1)

IWM ISHARES TR 15.5%

Value ($000) $21,080 (+37.0%) Shares 85,000 (+36.0%) Est. Cost $246.65 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	85,000 (+36.0%)	$21,080 (+37.0%)	15.5%	$246.65	—	RUSSELL 2000 ETF	464287655

Exited Positions (66)

AAPL APPLE INC 2.8%

Value ($000) $3,806 Shares 14,000 Est. Cost $268.34 Unrealized -2.1%

TPR TAPESTRY INC 1.9%

Value ($000) $2,555 Shares 20,000 Est. Cost $114.03 Unrealized +22.4%

FISV FISERV INC 1.7%

Value ($000) $2,351 Shares 35,000 Est. Cost $83.87 Unrealized -23.7%

WMT WALMART INC 1.4%

Value ($000) $1,950 Shares 17,500 Est. Cost $107.20 Unrealized +13.8%

WLTH WEALTHFRONT CORP 1.2%

Value ($000) $1,576 Shares 116,002 Est. Cost $13.20 Unrealized -27.4%

FLUT FLUTTER ENTMT PLC 1.1%

Value ($000) $1,505 Shares 7,000 Est. Cost $224.90 Unrealized -26.0%

KO COCA COLA CO 1.0%

Value ($000) $1,398 Shares 20,000 Est. Cost $69.40 Unrealized +7.7%

GOOGL ALPHABET INC 0.8%

Value ($000) $1,096 Shares 3,500 Est. Cost $285.60 Unrealized +13.2%

VIK VIKING HOLDINGS LTD 0.8%

Value ($000) $1,071 Shares 15,000 Est. Cost $63.81 Unrealized +15.6%

BA BOEING CO 0.8%

Value ($000) $1,037 Shares 15,000 Est. Cost $205.66 Unrealized +16.0%

KKR KKR & CO INC 0.8%

Value ($000) $1,026 Shares 20,000 Est. Cost $124.29 Unrealized -7.7%

ARES ARES MANAGEMENT CORPORATION 0.7%

Value ($000) $1,006 Shares 20,000 Est. Cost $154.95 Unrealized -4.1%

XBI SPDR SERIES TRUST 0.7%

Value ($000) $914 Shares 7,500 Est. Cost $121.93 Unrealized —

ULS UL SOLUTIONS INC 0.6%

Value ($000) $789 Shares 10,000 Est. Cost $80.28 Unrealized -5.5%

HPP HUDSON PAC PPTYS INC 0.6%

Value ($000) $766 Shares 70,767 Est. Cost $10.83 Unrealized —

INR INFINITY NAT RES INC 0.5%

Value ($000) $708 Shares 48,063 Est. Cost $13.11 Unrealized +17.5%

CWH CAMPING WORLD HLDGS INC 0.5%

Value ($000) $665 Shares 68,354 Est. Cost $12.26 Unrealized +0.7%

SATL SATELLOGIC INC 0.5%

Value ($000) $664 Shares 355,000 Est. Cost $1.87 Unrealized —

XRT SPDR SERIES TRUST 0.5%

Value ($000) $640 Shares 7,500 Est. Cost $85.29 Unrealized —

XLF SELECT SECTOR SPDR TR 0.4%

Value ($000) $548 Shares 10,000 Est. Cost $54.77 Unrealized —

VVX V2X INC 0.4%

Value ($000) $546 Shares 10,000 Est. Cost $56.27 Unrealized +17.9%

SPY SPDR S&P 500 ETF TR 0.4%

Value ($000) $526 Shares 90,000 Est. Cost $650.34 Unrealized —

IWM ISHARES TR 0.4%

Value ($000) $508 Shares 165,000 Est. Cost $246.65 Unrealized —

LWLG LIGHTWAVE LOGIC INC 0.4%

Value ($000) $486 Shares 150,000 Est. Cost $4.44 Unrealized -14.2%

AMTM AMENTUM HOLDINGS INC 0.3%

Value ($000) $435 Shares 15,000 Est. Cost $25.56 Unrealized +30.9%

XLI SELECT SECTOR SPDR TR 0.3%

Value ($000) $388 Shares 2,500 Est. Cost $155.12 Unrealized —

ARKK ARK ETF TR 0.3%

Value ($000) $385 Shares 5,000 Est. Cost $76.92 Unrealized —

TJX TJX COS INC NEW 0.3%

Value ($000) $384 Shares 2,500 Est. Cost $147.70 Unrealized +4.4%

SPY SPDR S&P 500 ETF TR 0.3%

Value ($000) $350 Shares 200,000 Est. Cost $650.34 Unrealized —

ITT ITT INC 0.3%

Value ($000) $347 Shares 2,000 Est. Cost $179.17 Unrealized +6.3%

HOOD ROBINHOOD MKTS INC 0.2%

Value ($000) $283 Shares 2,500 Est. Cost $130.05 Unrealized -26.4%

HOOD ROBINHOOD MKTS INC 0.2%

Value ($000) $242 Shares 30,000 Est. Cost $130.05 Unrealized -26.4%

SOLV SOLVENTUM CORP 0.1%

Value ($000) $158 Shares 2,000 Est. Cost $76.59 Unrealized +2.3%

FISV FISERV INC 0.1%

Value ($000) $148 Shares 57,500 Est. Cost $83.87 Unrealized -23.7%

XRT SPDR SERIES TRUST 0.1%

Value ($000) $131 Shares 60,000 Est. Cost $85.29 Unrealized —

NCLH NORWEGIAN CRUISE LINE HLDG L 0.1%

Value ($000) $112 Shares 5,000 Est. Cost $21.11 Unrealized +8.3%

AAPL APPLE INC 0.1%

Value ($000) $109 Shares 30,000 Est. Cost $268.34 Unrealized -2.1%

PENN PENN ENTERTAINMENT INC 0.1%

Value ($000) $102 Shares 75,000 Est. Cost — Unrealized —

XBI SPDR SERIES TRUST 0.1%

Value ($000) $91 Shares 30,100 Est. Cost $121.93 Unrealized —

XLI SELECT SECTOR SPDR TR 0.1%

Value ($000) $72 Shares 30,000 Est. Cost $155.12 Unrealized —

ULS UL SOLUTIONS INC 0.1%

Value ($000) $70 Shares 49,800 Est. Cost $80.28 Unrealized -5.5%

XLE SELECT SECTOR SPDR TR 0.0%

Value ($000) $68 Shares 100,000 Est. Cost $44.71 Unrealized —

XLF SELECT SECTOR SPDR TR 0.0%

Value ($000) $62 Shares 200,000 Est. Cost $54.77 Unrealized —

ARKK ARK ETF TR 0.0%

Value ($000) $62 Shares 30,000 Est. Cost $76.92 Unrealized —

AMTM AMENTUM HOLDINGS INC 0.0%

Value ($000) $57 Shares 110,100 Est. Cost $25.56 Unrealized +30.9%

WMT WALMART INC 0.0%

Value ($000) $56 Shares 50,000 Est. Cost $107.20 Unrealized +13.8%

SOLV SOLVENTUM CORP 0.0%

Value ($000) $54 Shares 10,000 Est. Cost $76.59 Unrealized +2.3%

FLX BINGEX LTD 0.0%

Value ($000) $53 Shares 16,790 Est. Cost $3.18 Unrealized —

BTSG BRIGHTSPRING HEALTH SVCS INC 0.0%

Value ($000) $50 Shares 1,327 Est. Cost $33.54 Unrealized +17.5%

SN SHARKNINJA INC 0.0%

Value ($000) $48 Shares 20,000 Est. Cost — Unrealized —

NBIS NEBIUS GROUP N.V. 0.0%

Value ($000) $46 Shares 12,500 Est. Cost — Unrealized —

TJX TJX COS INC NEW 0.0%

Value ($000) $44 Shares 30,000 Est. Cost $147.70 Unrealized +4.4%

NVDA NVIDIA CORPORATION 0.0%

Value ($000) $39 Shares 10,000 Est. Cost $186.63 Unrealized 0.0%

KO COCA COLA CO 0.0%

Value ($000) $37 Shares 50,000 Est. Cost $69.40 Unrealized +7.7%

AMLP ALPS ETF TR 0.0%

Value ($000) $27 Shares 64,700 Est. Cost — Unrealized —

TPR TAPESTRY INC 0.0%

Value ($000) $25 Shares 44,600 Est. Cost $114.03 Unrealized +22.4%

KWEB KRANESHARES TRUST 0.0%

Value ($000) $17 Shares 137,400 Est. Cost $28.43 Unrealized —

ALHC ALIGNMENT HEALTHCARE INC 0.0%

Value ($000) $17 Shares 20,000 Est. Cost — Unrealized —

GOOGL ALPHABET INC 0.0%

Value ($000) $16 Shares 10,000 Est. Cost $285.60 Unrealized +13.2%

BTSG BRIGHTSPRING HEALTH SVCS INC 0.0%

Value ($000) $16 Shares 70,000 Est. Cost $33.54 Unrealized +17.5%

TSLA TESLA INC 0.0%

Value ($000) $13 Shares 2,000 Est. Cost — Unrealized —

VIK VIKING HOLDINGS LTD 0.0%

Value ($000) $13 Shares 35,000 Est. Cost $63.81 Unrealized +15.6%

UBS UBS GROUP AG 0.0%

Value ($000) $11 Shares 125,000 Est. Cost — Unrealized —

CWH CAMPING WORLD HLDGS INC 0.0%

Value ($000) $8 Shares 25,000 Est. Cost $12.26 Unrealized +0.7%

NCLH NORWEGIAN CRUISE LINE HLDG L 0.0%

Value ($000) $8 Shares 10,000 Est. Cost $21.11 Unrealized +8.3%

RIOT RIOT PLATFORMS INC 0.0%

Value ($000) $8 Shares 45,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	14,000	$3,806	2.8%	$268.34	-2.1%	—	037833100
TPR	TAPESTRY INC	20,000	$2,555	1.9%	$114.03	+22.4%	—	876030107
FISV	FISERV INC	35,000	$2,351	1.7%	$83.87	-23.7%	—	337738108
WMT	WALMART INC	17,500	$1,950	1.4%	$107.20	+13.8%	—	931142103
WLTH	WEALTHFRONT CORP	116,002	$1,576	1.2%	$13.20	-27.4%	—	947002101
FLUT	FLUTTER ENTMT PLC	7,000	$1,505	1.1%	$224.90	-26.0%	—	G3643J108
KO	COCA COLA CO	20,000	$1,398	1.0%	$69.40	+7.7%	—	191216100
GOOGL	ALPHABET INC	3,500	$1,096	0.8%	$285.60	+13.2%	—	02079K305
VIK	VIKING HOLDINGS LTD	15,000	$1,071	0.8%	$63.81	+15.6%	—	G93A5A101
BA	BOEING CO	15,000	$1,037	0.8%	$205.66	+16.0%	—	097023105
KKR	KKR & CO INC	20,000	$1,026	0.8%	$124.29	-7.7%	—	48251W104
ARES	ARES MANAGEMENT CORPORATION	20,000	$1,006	0.7%	$154.95	-4.1%	—	03990B101
XBI	SPDR SERIES TRUST	7,500	$914	0.7%	$121.93	—	—	78464A870
ULS	UL SOLUTIONS INC	10,000	$789	0.6%	$80.28	-5.5%	—	903731107
HPP	HUDSON PAC PPTYS INC	70,767	$766	0.6%	$10.83	—	—	444097406
INR	INFINITY NAT RES INC	48,063	$708	0.5%	$13.11	+17.5%	—	456941103
CWH	CAMPING WORLD HLDGS INC	68,354	$665	0.5%	$12.26	+0.7%	—	13462K109
SATL	SATELLOGIC INC	355,000	$664	0.5%	$1.87	—	—	80401C100
XRT	SPDR SERIES TRUST	7,500	$640	0.5%	$85.29	—	—	78464A714
XLF	SELECT SECTOR SPDR TR	10,000	$548	0.4%	$54.77	—	—	81369Y605
VVX	V2X INC	10,000	$546	0.4%	$56.27	+17.9%	—	92242T101
SPY	SPDR S&P 500 ETF TR	90,000	$526	0.4%	$650.34	—	PUT	78462F103
IWM	ISHARES TR	165,000	$508	0.4%	$246.65	—	PUT	464287655
LWLG	LIGHTWAVE LOGIC INC	150,000	$486	0.4%	$4.44	-14.2%	—	532275104
AMTM	AMENTUM HOLDINGS INC	15,000	$435	0.3%	$25.56	+30.9%	—	023939101
XLI	SELECT SECTOR SPDR TR	2,500	$388	0.3%	$155.12	—	—	81369Y704
ARKK	ARK ETF TR	5,000	$385	0.3%	$76.92	—	—	00214Q104
TJX	TJX COS INC NEW	2,500	$384	0.3%	$147.70	+4.4%	—	872540109
SPY	SPDR S&P 500 ETF TR	200,000	$350	0.3%	$650.34	—	CALL	78462F103
ITT	ITT INC	2,000	$347	0.3%	$179.17	+6.3%	—	45073V108
HOOD	ROBINHOOD MKTS INC	2,500	$283	0.2%	$130.05	-26.4%	—	770700102
HOOD	ROBINHOOD MKTS INC	30,000	$242	0.2%	$130.05	-26.4%	PUT	770700102
SOLV	SOLVENTUM CORP	2,000	$158	0.1%	$76.59	+2.3%	—	83444M101
FISV	FISERV INC	57,500	$148	0.1%	$83.87	-23.7%	PUT	337738108
XRT	SPDR SERIES TRUST	60,000	$131	0.1%	$85.29	—	PUT	78464A714
NCLH	NORWEGIAN CRUISE LINE HLDG L	5,000	$112	0.1%	$21.11	+8.3%	—	G66721104
AAPL	APPLE INC	30,000	$109	0.1%	$268.34	-2.1%	PUT	037833100
PENN	PENN ENTERTAINMENT INC	75,000	$102	0.1%	—	—	CALL	707569109
XBI	SPDR SERIES TRUST	30,100	$91	0.1%	$121.93	—	PUT	78464A870
XLI	SELECT SECTOR SPDR TR	30,000	$72	0.1%	$155.12	—	PUT	81369Y704
ULS	UL SOLUTIONS INC	49,800	$70	0.1%	$80.28	-5.5%	CALL	903731107
XLE	SELECT SECTOR SPDR TR	100,000	$68	0.0%	$44.71	—	PUT	81369Y506
XLF	SELECT SECTOR SPDR TR	200,000	$62	0.0%	$54.77	—	PUT	81369Y605
ARKK	ARK ETF TR	30,000	$62	0.0%	$76.92	—	PUT	00214Q104
AMTM	AMENTUM HOLDINGS INC	110,100	$57	0.0%	$25.56	+30.9%	PUT	023939101
WMT	WALMART INC	50,000	$56	0.0%	$107.20	+13.8%	PUT	931142103
SOLV	SOLVENTUM CORP	10,000	$54	0.0%	$76.59	+2.3%	PUT	83444M101
FLX	BINGEX LTD	16,790	$53	0.0%	$3.18	—	—	090337106
BTSG	BRIGHTSPRING HEALTH SVCS INC	1,327	$50	0.0%	$33.54	+17.5%	—	10950A106
SN	SHARKNINJA INC	20,000	$48	0.0%	—	—	CALL	G8068L108
NBIS	NEBIUS GROUP N.V.	12,500	$46	0.0%	—	—	CALL	N97284108
TJX	TJX COS INC NEW	30,000	$44	0.0%	$147.70	+4.4%	PUT	872540109
NVDA	NVIDIA CORPORATION	10,000	$39	0.0%	$186.63	0.0%	CALL	67066G104
KO	COCA COLA CO	50,000	$37	0.0%	$69.40	+7.7%	PUT	191216100
AMLP	ALPS ETF TR	64,700	$27	0.0%	—	—	PUT	00162Q452
TPR	TAPESTRY INC	44,600	$25	0.0%	$114.03	+22.4%	PUT	876030107
KWEB	KRANESHARES TRUST	137,400	$17	0.0%	$28.43	—	CALL	500767306
ALHC	ALIGNMENT HEALTHCARE INC	20,000	$17	0.0%	—	—	PUT	01625V104
GOOGL	ALPHABET INC	10,000	$16	0.0%	$285.60	+13.2%	PUT	02079K305
BTSG	BRIGHTSPRING HEALTH SVCS INC	70,000	$16	0.0%	$33.54	+17.5%	PUT	10950A106
TSLA	TESLA INC	2,000	$13	0.0%	—	—	PUT	88160R101
VIK	VIKING HOLDINGS LTD	35,000	$13	0.0%	$63.81	+15.6%	PUT	G93A5A101
UBS	UBS GROUP AG	125,000	$11	0.0%	—	—	PUT	H42097107
CWH	CAMPING WORLD HLDGS INC	25,000	$8	0.0%	$12.26	+0.7%	CALL	13462K109
NCLH	NORWEGIAN CRUISE LINE HLDG L	10,000	$8	0.0%	$21.11	+8.3%	PUT	G66721104
RIOT	RIOT PLATFORMS INC	45,000	$8	0.0%	—	—	CALL	767292105

Decreased Positions (5)

TXO TXO PARTNERS LP 0.8%

Value ($000) $1,028 (-72.8%) Shares 81,733 (-76.9%) Est. Cost $10.67 Unrealized —

— JETBLUE AIRWAYS CORP 2.1%

Value ($000) $2,897 (-45.8%) Shares 3,000,000 (-45.5%) Est. Cost $0.97 Unrealized —

MNR MACH NATURAL RESOURCES LP 1.0%

Value ($000) $1,356 (-61.5%) Shares 96,839 (-69.7%) Est. Cost $11.04 Unrealized —

FLY FIREFLY AEROSPACE INC 0.4%

Value ($000) $569 (-76.3%) Shares 20,000 (-81.4%) Est. Cost $23.14 Unrealized +9.0%

NIQ NIQ GLOBAL INTELLIGENCE PLC 0.3%

Value ($000) $455 (-41.5%) Shares 40,000 (-15.1%) Est. Cost $14.64 Unrealized -0.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TXO	TXO PARTNERS LP	81,733 (-76.9%)	$1,028 (-72.8%)	0.8%	$10.67	—	COM UNIT	87313P103
—	JETBLUE AIRWAYS CORP	3,000,000 (-45.5%)	$2,897 (-45.8%)	2.1%	$0.97	—	NOTE 2.500% 9/0	477143AR2
MNR	MACH NATURAL RESOURCES LP	96,839 (-69.7%)	$1,356 (-61.5%)	1.0%	$11.04	—	COM UNIT LTD PAR	55445L100
FLY	FIREFLY AEROSPACE INC	20,000 (-81.4%)	$569 (-76.3%)	0.4%	$23.14	+9.0%	COM	31816X106
NIQ	NIQ GLOBAL INTELLIGENCE PLC	40,000 (-15.1%)	$455 (-41.5%)	0.3%	$14.64	-0.6%	ORDINARY SHARES	G63755105

Unchanged Positions (19)

— CIPHER DIGITAL INC 4.5%

Value ($000) $6,188 Shares 2,000,000 Est. Cost $3.49 Unrealized —

— IREN LIMITED 3.4%

Value ($000) $4,571 Shares 2,000,000 Est. Cost $2.45 Unrealized —

— ALIBABA GROUP HLDG LTD 2.0%

Value ($000) $2,778 Shares 2,000,000 Est. Cost $1.56 Unrealized —

— SNOWFLAKE INC 0.9%

Value ($000) $1,226 Shares 1,000,000 Est. Cost $1.55 Unrealized —

— SNOWFLAKE INC 0.9%

Value ($000) $1,183 Shares 1,000,000 Est. Cost $1.49 Unrealized —

— UPSTART HLDGS INC 0.8%

Value ($000) $1,069 Shares 1,500,000 Est. Cost $0.88 Unrealized —

— SUNRUN INC 0.9%

Value ($000) $1,196 Shares 1,000,000 Est. Cost $1.42 Unrealized —

KFIIU K&F GROWTH ACQUISITION CORP 5.9%

Value ($000) $8,025 Shares 750,000 Est. Cost $10.46 Unrealized —

XLE SELECT SECTOR SPDR TR 0.4%

Value ($000) $613 Shares 10,000 Est. Cost $44.71 Unrealized —

— WISDOMTREE INC 1.0%

Value ($000) $1,363 Shares 1,000,000 Est. Cost $1.20 Unrealized —

— UPSTART HLDGS INC 0.4%

Value ($000) $490 Shares 500,000 Est. Cost $1.26 Unrealized —

— EVERGY INC 1.0%

Value ($000) $1,350 Shares 1,000,000 Est. Cost $1.22 Unrealized —

— UBER TECHNOLOGIES INC 0.9%

Value ($000) $1,204 Shares 1,000,000 Est. Cost $1.30 Unrealized —

— RAMACO RES INC 0.6%

Value ($000) $766 Shares 1,000,000 Est. Cost $0.85 Unrealized —

— SOUTHERN CO 1.2%

Value ($000) $1,668 Shares 1,500,000 Est. Cost $1.07 Unrealized —

— RIOT PLATFORMS INC 1.7%

Value ($000) $2,305 Shares 2,000,000 Est. Cost $1.13 Unrealized —

— LIVE NATION ENTERTAINMENT IN 0.8%

Value ($000) $1,080 Shares 1,000,000 Est. Cost $1.05 Unrealized —

EVAC/U EQV VENTURES AC CORP. II 3.2%

Value ($000) $4,318 Shares 425,000 Est. Cost $10.11 Unrealized —

ZONE CLEANCORE SOLUTIONS INC 0.1%

Value ($000) $71 Shares 200,000 Est. Cost $0.84 Unrealized -60.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	CIPHER DIGITAL INC	2,000,000	$6,188	4.5%	$3.49	—	NOTE 1.750% 5/1	17253JAA4
—	IREN LIMITED	2,000,000	$4,571	3.4%	$2.45	—	NOTE 3.250% 6/1	46270CAB5
—	ALIBABA GROUP HLDG LTD	2,000,000	$2,778	2.0%	$1.56	—	NOTE 0.500% 6/0	01609WBG6
—	SNOWFLAKE INC	1,000,000	$1,226	0.9%	$1.55	—	NOTE 10/0	833445AD1
—	SNOWFLAKE INC	1,000,000	$1,183	0.9%	$1.49	—	NOTE 10/0	833445AB5
—	UPSTART HLDGS INC	1,500,000	$1,069	0.8%	$0.88	—	NOTE 1.000%11/1	91680MAF4
—	SUNRUN INC	1,000,000	$1,196	0.9%	$1.42	—	NOTE 4.000% 3/0	86771WAD7
KFIIU	K&F GROWTH ACQUISITION CORP	750,000	$8,025	5.9%	$10.46	—	UNIT 99/99/9999	G52258103
XLE	SELECT SECTOR SPDR TR	10,000	$613	0.4%	$44.71	—	STATE STREET ENE	81369Y506
—	WISDOMTREE INC	1,000,000	$1,363	1.0%	$1.20	—	NOTE 3.250% 8/1	97717PAH7
—	UPSTART HLDGS INC	500,000	$490	0.4%	$1.26	—	NOTE 2.000%10/0	91680MAD9
—	EVERGY INC	1,000,000	$1,350	1.0%	$1.22	—	NOTE 4.500%12/1	30034WAD8
—	UBER TECHNOLOGIES INC	1,000,000	$1,204	0.9%	$1.30	—	NOTE 0.875%12/0	90353TAM2
—	RAMACO RES INC	1,000,000	$766	0.6%	$0.85	—	NOTE 11/0	75134PAB1
—	SOUTHERN CO	1,500,000	$1,668	1.2%	$1.07	—	NOTE 4.500% 6/1	842587DZ7
—	RIOT PLATFORMS INC	2,000,000	$2,305	1.7%	$1.13	—	NOTE 0.750% 1/1	767292AB1
—	LIVE NATION ENTERTAINMENT IN	1,000,000	$1,080	0.8%	$1.05	—	NOTE 2.875% 1/1	538034BC2
EVAC/U	EQV VENTURES AC CORP. II	425,000	$4,318	3.2%	$10.11	—	UNIT 06/30/2032	G3106Q110
ZONE	CLEANCORE SOLUTIONS INC	200,000	$71	0.1%	$0.84	-60.4%	CLASS B COM SH	184492106