Arrington Capital Management, LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
URTH	ISHARES INC	20,000	$2,460	2.5%	—	—	PUT	464286392
BIL	SPDR SERIES TRUST	23,098	$2,117	2.2%	$91.64	—	STATE STREET SPD	78468R663
EWY	ISHARES INC	13,000	$1,599	1.6%	$123.01	—	MSCI STH KOR ETF	464286772
RKT	ROCKET COS INC	110,000	$1,568	1.6%	—	—	CALL	77311W101
URA	GLOBAL X FDS	22,000	$1,065	1.1%	—	—	CALL	37954Y871
DBA	INVESCO DB MULTI-SECTOR COMM	25,000	$683	0.7%	$27.32	—	AGRICULTURE FD	46140H106
WULF	TERAWULF INC	45,000	$649	0.7%	—	—	CALL	88080T104
CORZ	CORE SCIENTIFIC INC NEW	40,000	$598	0.6%	—	—	CALL	21874A106
ETHA	ISHARES ETHEREUM TR	20,000	$317	0.3%	$15.83	—	SHS	46438R105
GLXY	GALAXY DIGITAL INC.	14,000	$258	0.3%	$25.40	0.0%	CL A	36317J209
BMNR	BITMINE IMMERSION TECNOLOGIE	10,000	$198	0.2%	—	—	CALL	09175A206
BITF	BITFARMS LTD	100,000	$195	0.2%	—	—	CALL	09173B107
DFDVW	DEFI DEVELOPMENT CORP	534,400	$0	0.0%	—	—	*W EXP 01/21/202	47100L111

Increased Positions (3)

GLXY GALAXY DIGITAL INC. 1.5%

Value ($000) $1,476 (+560.1%) Shares 80,000 (+700.0%) Est. Cost $25.40 Unrealized 0.0%

STSS SHARPS TECHNOLOGY INC 1.8%

Value ($000) $1,752 (-6.5%) Shares 1,043,076 (+13.0%) Est. Cost $3.64 Unrealized -45.0%

SBET SHARPLINK INC 0.6%

Value ($000) $581 (-10.4%) Shares 90,000 (+24.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLXY	GALAXY DIGITAL INC.	80,000 (+700.0%)	$1,476 (+560.1%)	1.5%	$25.40	0.0%	CALL	36317J209
STSS	SHARPS TECHNOLOGY INC	1,043,076 (+13.0%)	$1,752 (-6.5%)	1.8%	$3.64	-45.0%	COM	82003F309
SBET	SHARPLINK INC	90,000 (+24.1%)	$581 (-10.4%)	0.6%	—	—	CALL	820014405

Exited Positions (4)

MSTR STRATEGY INC 8.2%

Value ($000) $7,977 Shares 52,500 Est. Cost — Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 3.1%

Value ($000) $2,979 Shares 60,000 Est. Cost — Unrealized —

HUT HUT 8 CORP 3.0%

Value ($000) $2,894 Shares 63,000 Est. Cost — Unrealized —

IREN IREN LIMITED 0.7%

Value ($000) $661 Shares 17,500 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSTR	STRATEGY INC	52,500	$7,977	8.2%	—	—	CALL	594972408
IBIT	ISHARES BITCOIN TRUST ETF	60,000	$2,979	3.1%	—	—	CALL	46438F101
HUT	HUT 8 CORP	63,000	$2,894	3.0%	—	—	CALL	44812J104
IREN	IREN LIMITED	17,500	$661	0.7%	—	—	CALL	Q4982L109

Decreased Positions (1)

PURR HYPERLIQUID STRATEGIES INC 6.4%

Value ($000) $6,210 (+36.3%) Shares 1,220,001 (-4.7%) Est. Cost $3.47 Unrealized +18.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PURR	HYPERLIQUID STRATEGIES INC	1,220,001 (-4.7%)	$6,210 (+36.3%)	6.4%	$3.47	+18.3%	COM	44916Y106

Unchanged Positions (16)

UPXI UPEXI INC 2.8%

Value ($000) $2,720 Shares 2,760,107 Est. Cost $3.78 Unrealized -59.1%

BRR PROCAP FINL INC 2.7%

Value ($000) $2,638 Shares 1,250,000 Est. Cost $7.98 Unrealized -64.2%

ZOOZ ZOOZ STRATEGY LTD 3.1%

Value ($000) $3,000 Shares 9,967,378 Est. Cost $1.01 Unrealized -55.8%

SLMT BRERA HOLDINGS PLC 0.9%

Value ($000) $862 Shares 1,099,049 Est. Cost $7.99 Unrealized -80.8%

BNC CEA INDUSTRIES INC 1.0%

Value ($000) $936 Shares 320,545 Est. Cost $7.02 Unrealized -27.9%

HSDT SOLANA CO 1.2%

Value ($000) $1,140 Shares 658,908 Est. Cost $6.60 Unrealized -60.0%

SUIG SUI GROUP HOLDINGS LIMITED 2.1%

Value ($000) $2,009 Shares 1,660,510 Est. Cost $2.58 Unrealized -39.8%

IPST IP STRATEGY HOLDINGS INC 0.1%

Value ($000) $109 Shares 413,701 Est. Cost $9.28 Unrealized -87.2%

XRPN ARMADA ACQUISITION CORP II 61.5%

Value ($000) $59,757 Shares 5,796,000 Est. Cost $10.27 Unrealized -0.2%

NAKA NAKAMOTO INC 0.7%

Value ($000) $647 Shares 2,928,571 Est. Cost $0.65 Unrealized -45.3%

TONX TON STRATEGY CO 1.0%

Value ($000) $935 Shares 378,549 Est. Cost $3.65 Unrealized -35.3%

COIN COINBASE GLOBAL INC 0.3%

Value ($000) $291 Shares 1,669 Est. Cost $297.98 Unrealized -32.7%

COIN COINBASE GLOBAL INC 0.3%

Value ($000) $279 Shares 1,600 Est. Cost $297.98 Unrealized -32.7%

XRPNW ARMADA ACQUISITION CORP II 0.1%

Value ($000) $84 Shares 140,000 Est. Cost $0.89 Unrealized —

STSSW SHARPS TECHNOLOGY INC 0.0%

Value ($000) $0 Shares 923,076 Est. Cost — Unrealized —

BNCWW CEA INDUSTRIES INC 0.0%

Value ($000) $0 Shares 445,545 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UPXI	UPEXI INC	2,760,107	$2,720	2.8%	$3.78	-59.1%	COM NEW	39959A205
BRR	PROCAP FINL INC	1,250,000	$2,638	2.7%	$7.98	-64.2%	COM SHS	74277P105
ZOOZ	ZOOZ STRATEGY LTD	9,967,378	$3,000	3.1%	$1.01	-55.8%	SHARE	M2573A106
SLMT	BRERA HOLDINGS PLC	1,099,049	$862	0.9%	$7.99	-80.8%	COM CL B NEW	G13311116
BNC	CEA INDUSTRIES INC	320,545	$936	1.0%	$7.02	-27.9%	COM	86887P309
HSDT	SOLANA CO	658,908	$1,140	1.2%	$6.60	-60.0%	COM CL A NEW	42328V876
SUIG	SUI GROUP HOLDINGS LIMITED	1,660,510	$2,009	2.1%	$2.58	-39.8%	COM NEW	59982U200
IPST	IP STRATEGY HOLDINGS INC	413,701	$109	0.1%	$9.28	-87.2%	COM	42727R203
XRPN	ARMADA ACQUISITION CORP II	5,796,000	$59,757	61.5%	$10.27	-0.2%	COM CL A	G0R38G104
NAKA	NAKAMOTO INC	2,928,571	$647	0.7%	$0.65	-45.3%	COM	49457M106
TONX	TON STRATEGY CO	378,549	$935	1.0%	$3.65	-35.3%	COM	92337U302
COIN	COINBASE GLOBAL INC	1,669	$291	0.3%	$297.98	-32.7%	COM CL A	19260Q107
COIN	COINBASE GLOBAL INC	1,600	$279	0.3%	$297.98	-32.7%	PUT	19260Q107
XRPNW	ARMADA ACQUISITION CORP II	140,000	$84	0.1%	$0.89	—	*W EXP 05/21/203	G0R38G112
STSSW	SHARPS TECHNOLOGY INC	923,076	$0	0.0%	—	—	*W EXP 99/99/999	82003F119
BNCWW	CEA INDUSTRIES INC	445,545	$0	0.0%	—	—	*W EXP 02/11/202	86887P119