Empyrean Capital Partners, LP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AXTA	AXALTA COATING SYS LTD	2,050,000	$66,236	2.3%	$29.34	0.0%	COM	G0750C108
UNH	UNITEDHEALTH GROUP INC	193,000	$63,711	2.2%	$337.21	0.0%	COM	91324P102
WBD	WARNER BROS DISCOVERY INC	2,000,000	$57,640	2.0%	$23.37	0.0%	COM SER A	934423104
VISN	COMMSCOPE HLDG CO INC	2,060,000	$37,348	1.3%	$17.25	0.0%	COM	20337X109
B	BARRICK MNG CORP	821,000	$35,755	1.2%	$37.42	0.0%	COM SHS	06849F108
CCXIU	CHURCHILL CAP CORP XI	3,500,000	$35,735	1.2%	$10.21	—	UNIT 12/10/2030	G2131A124
ASH	ASHLAND INC	542,000	$31,799	1.1%	$52.60	0.0%	COM	044186104
—	TREEHOUSE FOODS INC	1,320,000	$31,139	1.1%	$23.59	—	COM	89469A104
KVUE	KENVUE INC	1,732,000	$29,877	1.0%	$16.26	0.0%	COM	49177J102
KBONU	KARBON CAP PARTNERS CORP	2,632,752	$26,499	0.9%	$10.06	—	UNIT 12/11/2030	G5225W126
IAC	IAC INC	677,000	$26,471	0.9%	$35.02	0.0%	COM NEW	44891N208
QRVO	QORVO INC	309,000	$26,114	0.9%	$88.25	0.0%	COM	74736K101
CMCSA	COMCAST CORP NEW	868,700	$25,965	0.9%	$28.53	0.0%	CL A	20030N101
CRL	CHARLES RIV LABS INTL INC	121,500	$24,237	0.8%	$181.39	0.0%	COM	159864107
IQV	IQVIA HLDGS INC	104,650	$23,589	0.8%	$217.58	0.0%	COM	46266C105
MDLZ	MONDELEZ INTL INC	418,000	$22,501	0.8%	$57.06	0.0%	CL A	609207105
LBRT	LIBERTY ENERGY INC	1,200,000	$22,152	0.8%	$16.71	0.0%	COM CL A	53115L104
BXSL	BLACKSTONE SECD LENDING FD	765,000	$20,142	0.7%	$26.09	0.0%	COMMON STOCK	09261X102
KMB	KIMBERLY-CLARK CORP	187,200	$18,887	0.7%	$108.41	0.0%	COM	494368103
CTRI	CENTURI HOLDINGS INC	578,000	$14,595	0.5%	$22.36	0.0%	COM SHS	155923105
TFX	TELEFLEX INCORPORATED	118,000	$14,401	0.5%	$121.00	0.0%	COM	879369106
DSACU	DAEDALUS SPL ACQUISITION COR	1,132,000	$11,365	0.4%	$10.04	—	UNIT 11/10/2030	G2616C124
LLYVK	LIBERTY LIVE HOLDINGS INC	134,300	$11,168	0.4%	$85.87	0.0%	COM SHS SER C	530909308
RNA	AVIDITY BIOSCIENCES INC	143,000	$10,315	0.4%	$64.59	0.0%	COM	05370A108
VHCPU	VINE HILL CAP INVTS CORP II	950,000	$9,520	0.3%	$10.02	—	UNIT 11/25/2030	G9709D125
LLYVA	LIBERTY LIVE HOLDINGS INC	72,250	$5,888	0.2%	$83.24	0.0%	COM SER A	530909100
CCCXW	CHURCHILL CAP CORP X	762,500	$5,871	0.2%	$7.70	—	*W EXP 05/14/203	G2130T116
LAD	LITHIA MTRS INC	15,400	$5,118	0.2%	$317.53	0.0%	COM	536797103
—	ITRON INC	5,000,000	$5,048	0.2%	$1.01	—	NOTE 1.375% 7/1	465741AQ9
—	CABLE ONE INC	4,000,000	$3,936	0.1%	$0.98	—	NOTE 3/1	12685JAE5
PCSC	PERCEPTIVE CAP SOLUTIONS COR	282,100	$3,676	0.1%	$11.28	0.0%	CL A ORD SHS	G70077105
VCIC	VINE HILL CAP INVT CORP.	266,123	$2,866	0.1%	$10.95	0.0%	ORD SHS CL A	G93Y09107

Increased Positions (13)

COF CAPITAL ONE FINL CORP 3.7%

Value ($000) $107,608 (+64.4%) Shares 444,000 (+44.2%) Est. Cost $208.08 Unrealized +6.8%

STZ CONSTELLATION BRANDS INC 2.8%

Value ($000) $80,941 (+33.3%) Shares 586,700 (+30.1%) Est. Cost $152.74 Unrealized -10.4%

NSC NORFOLK SOUTHN CORP 2.0%

Value ($000) $58,841 (+43.5%) Shares 203,800 (+49.3%) Est. Cost $280.19 Unrealized +3.0%

OPTU OPTIMUM COMMUNICATIONS INC 1.4%

Value ($000) $41,297 (-25.8%) Shares 25,028,407 (+8.3%) Est. Cost $2.44 Unrealized -16.6%

CVS CVS HEALTH CORP 3.2%

Value ($000) $92,058 (+17.1%) Shares 1,160,000 (+11.3%) Est. Cost $59.74 Unrealized +31.7%

UNP UNION PAC CORP 3.0%

Value ($000) $86,467 (+10.2%) Shares 373,800 (+12.6%) Est. Cost $223.62 Unrealized +1.7%

RAC RITHM ACQUISITION CORP 0.5%

Value ($000) $14,437 (+96.6%) Shares 1,389,513 (+93.9%) Est. Cost $10.30 Unrealized +0.5%

PSX PHILLIPS 66 1.2%

Value ($000) $34,170 (+15.9%) Shares 264,800 (+22.1%) Est. Cost $116.40 Unrealized +15.1%

GLIBK GCI LIBERTY INC 0.4%

Value ($000) $10,911 (+59.0%) Shares 293,218 (+59.2%) Est. Cost $35.21 Unrealized -0.3%

OACC OAKTREE ACQUISITION CORP III 0.3%

Value ($000) $9,522 (+20.8%) Shares 900,000 (+20.0%) Est. Cost $10.47 Unrealized +1.1%

— VISHAY INTERTECHNOLOGY INC 1.4%

Value ($000) $39,555 (+4.0%) Shares 44,000,000 (+4.8%) Est. Cost $0.91 Unrealized —

— ON SEMICONDUCTOR CORP 0.8%

Value ($000) $23,705 (+6.6%) Shares 25,000,000 (+4.2%) Est. Cost $0.98 Unrealized —

— AMPHASTAR PHARMACEUTICALS IN 0.5%

Value ($000) $14,994 (+10.0%) Shares 16,265,000 (+8.4%) Est. Cost $0.93 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COF	CAPITAL ONE FINL CORP	444,000 (+44.2%)	$107,608 (+64.4%)	3.7%	$208.08	+6.8%	COM	14040H105
STZ	CONSTELLATION BRANDS INC	586,700 (+30.1%)	$80,941 (+33.3%)	2.8%	$152.74	-10.4%	CL A	21036P108
NSC	NORFOLK SOUTHN CORP	203,800 (+49.3%)	$58,841 (+43.5%)	2.0%	$280.19	+3.0%	COM	655844108
OPTU	OPTIMUM COMMUNICATIONS INC	25,028,407 (+8.3%)	$41,297 (-25.8%)	1.4%	$2.44	-16.6%	CL A	02156K103
CVS	CVS HEALTH CORP	1,160,000 (+11.3%)	$92,058 (+17.1%)	3.2%	$59.74	+31.7%	COM	126650100
UNP	UNION PAC CORP	373,800 (+12.6%)	$86,467 (+10.2%)	3.0%	$223.62	+1.7%	COM	907818108
RAC	RITHM ACQUISITION CORP	1,389,513 (+93.9%)	$14,437 (+96.6%)	0.5%	$10.30	+0.5%	CL A	G75751100
PSX	PHILLIPS 66	264,800 (+22.1%)	$34,170 (+15.9%)	1.2%	$116.40	+15.1%	COM	718546104
GLIBK	GCI LIBERTY INC	293,218 (+59.2%)	$10,911 (+59.0%)	0.4%	$35.21	-0.3%	COM SER C	36164V800
OACC	OAKTREE ACQUISITION CORP III	900,000 (+20.0%)	$9,522 (+20.8%)	0.3%	$10.47	+1.1%	SHS CL A	G6717R104
—	VISHAY INTERTECHNOLOGY INC	44,000,000 (+4.8%)	$39,555 (+4.0%)	1.4%	$0.91	—	NOTE 2.250% 9/1	928298AR9
—	ON SEMICONDUCTOR CORP	25,000,000 (+4.2%)	$23,705 (+6.6%)	0.8%	$0.98	—	NOTE 0.500% 3/0	682189AU9
—	AMPHASTAR PHARMACEUTICALS IN	16,265,000 (+8.4%)	$14,994 (+10.0%)	0.5%	$0.93	—	NOTE 2.000% 3/1	03209RAB9

Exited Positions (24)

CCCX CHURCHILL CAP CORP X 1.2%

Value ($000) $33,950 Shares 2,640,000 Est. Cost $12.86 Unrealized —

— ADVANCED ENERGY INDS 1.1%

Value ($000) $31,170 Shares 22,500,000 Est. Cost $1.12 Unrealized —

TECK TECK RESOURCES LTD 0.8%

Value ($000) $21,945 Shares 500,000 Est. Cost $36.34 Unrealized +19.2%

— LIBERTY MEDIA CORP DEL 0.6%

Value ($000) $17,045 Shares 175,771 Est. Cost $32.10 Unrealized —

ALIT ALIGHT INC 0.6%

Value ($000) $16,072 Shares 4,930,000 Est. Cost $8.55 Unrealized -71.2%

SDRL SEADRILL LTD 0.4%

Value ($000) $11,311 Shares 374,420 Est. Cost $30.46 Unrealized +2.3%

EVAC/U EQV VENTURES AC CORP. II 0.3%

Value ($000) $10,010 Shares 1,000,000 Est. Cost $10.01 Unrealized —

NGD NEW GOLD INC CDA 0.3%

Value ($000) $9,402 Shares 1,309,428 Est. Cost $1.65 Unrealized +356.5%

VAL VALARIS LTD 0.3%

Value ($000) $9,349 Shares 191,700 Est. Cost $48.77 Unrealized +10.0%

— LIBERTY MEDIA CORP DEL 0.3%

Value ($000) $8,917 Shares 94,563 Est. Cost $31.92 Unrealized —

BP BP PLC 0.3%

Value ($000) $8,443 Shares 245,000 Est. Cost $29.93 Unrealized —

SOCAU SOLARIUS CAPITAL ACQU CORP 0.3%

Value ($000) $7,378 Shares 700,000 Est. Cost $10.54 Unrealized —

HNRG HALLADOR ENERGY COMPANY 0.2%

Value ($000) $6,937 Shares 354,476 Est. Cost $8.48 Unrealized +139.1%

NXE NEXGEN ENERGY LTD 0.2%

Value ($000) $6,721 Shares 751,000 Est. Cost $5.65 Unrealized +56.4%

MAGN MAGNERA CORP 0.2%

Value ($000) $5,113 Shares 436,260 Est. Cost $20.46 Unrealized -43.4%

AKAM AKAMAI TECHNOLOGIES INC 0.2%

Value ($000) $4,394 Shares 58,000 Est. Cost $77.08 Unrealized +6.7%

NE NOBLE CORP PLC 0.1%

Value ($000) $3,874 Shares 137,000 Est. Cost $27.55 Unrealized +6.1%

ULCC FRONTIER GROUP HLDGS INC 0.1%

Value ($000) $3,194 Shares 723,439 Est. Cost $3.66 Unrealized +20.9%

AMN AMN HEALTHCARE SVCS INC 0.1%

Value ($000) $2,904 Shares 150,000 Est. Cost $19.53 Unrealized -8.6%

— CONMED CORP 0.1%

Value ($000) $2,382 Shares 2,500,000 Est. Cost $0.93 Unrealized —

FCRS/U FUTURECREST ACQUISITION CORP 0.1%

Value ($000) $1,855 Shares 175,000 Est. Cost $10.60 Unrealized —

BDCIU BTC DEV CORP 0.1%

Value ($000) $1,515 Shares 150,000 Est. Cost $10.10 Unrealized —

TONX TON STRATEGY CO 0.0%

Value ($000) $1,356 Shares 192,621 Est. Cost $11.67 Unrealized -68.7%

SABR SABRE CORP 0.0%

Value ($000) $732 Shares 400,000 Est. Cost $3.74 Unrealized -53.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCCX	CHURCHILL CAP CORP X	2,640,000	$33,950	1.2%	$12.86	—	—	G2130T108
—	ADVANCED ENERGY INDS	22,500,000	$31,170	1.1%	$1.12	—	—	007973AE0
TECK	TECK RESOURCES LTD	500,000	$21,945	0.8%	$36.34	+19.2%	—	878742204
—	LIBERTY MEDIA CORP DEL	175,771	$17,045	0.6%	$32.10	—	—	531229722
ALIT	ALIGHT INC	4,930,000	$16,072	0.6%	$8.55	-71.2%	—	01626W101
SDRL	SEADRILL LTD	374,420	$11,311	0.4%	$30.46	+2.3%	—	G7997W102
EVAC/U	EQV VENTURES AC CORP. II	1,000,000	$10,010	0.3%	$10.01	—	—	G3106Q110
NGD	NEW GOLD INC CDA	1,309,428	$9,402	0.3%	$1.65	+356.5%	—	644535106
VAL	VALARIS LTD	191,700	$9,349	0.3%	$48.77	+10.0%	—	G9460G101
—	LIBERTY MEDIA CORP DEL	94,563	$8,917	0.3%	$31.92	—	—	531229748
BP	BP PLC	245,000	$8,443	0.3%	$29.93	—	—	055622104
SOCAU	SOLARIUS CAPITAL ACQU CORP	700,000	$7,378	0.3%	$10.54	—	—	G82617120
HNRG	HALLADOR ENERGY COMPANY	354,476	$6,937	0.2%	$8.48	+139.1%	—	40609P105
NXE	NEXGEN ENERGY LTD	751,000	$6,721	0.2%	$5.65	+56.4%	—	65340P106
MAGN	MAGNERA CORP	436,260	$5,113	0.2%	$20.46	-43.4%	—	55939A107
AKAM	AKAMAI TECHNOLOGIES INC	58,000	$4,394	0.2%	$77.08	+6.7%	—	00971T101
NE	NOBLE CORP PLC	137,000	$3,874	0.1%	$27.55	+6.1%	—	G65431127
ULCC	FRONTIER GROUP HLDGS INC	723,439	$3,194	0.1%	$3.66	+20.9%	—	35909R108
AMN	AMN HEALTHCARE SVCS INC	150,000	$2,904	0.1%	$19.53	-8.6%	—	001744101
—	CONMED CORP	2,500,000	$2,382	0.1%	$0.93	—	—	207410AH4
FCRS/U	FUTURECREST ACQUISITION CORP	175,000	$1,855	0.1%	$10.60	—	—	G3730U123
BDCIU	BTC DEV CORP	150,000	$1,515	0.1%	$10.10	—	—	G0701G125
TONX	TON STRATEGY CO	192,621	$1,356	0.0%	$11.67	-68.7%	—	92337U302
SABR	SABRE CORP	400,000	$732	0.0%	$3.74	-53.9%	—	78573M104

Decreased Positions (19)

SHEL SHELL PLC 4.4%

Value ($000) $124,916 (-30.1%) Shares 1,700,000 (-32.0%) Est. Cost $71.37 Unrealized —

— BLACKLINE INC 0.1%

Value ($000) $1,585 (-96.5%) Shares 1,500,000 (-96.6%) Est. Cost $1.06 Unrealized —

MPC MARATHON PETE CORP 2.5%

Value ($000) $70,988 (-34.5%) Shares 436,500 (-22.4%) Est. Cost $146.85 Unrealized +26.9%

AER AERCAP HOLDINGS NV 5.5%

Value ($000) $158,136 (-12.9%) Shares 1,100,000 (-26.7%) Est. Cost $56.56 Unrealized +134.2%

SATS ECHOSTAR CORP 0.7%

Value ($000) $20,544 (-52.8%) Shares 189,000 (-66.8%) Est. Cost $32.48 Unrealized +150.7%

NG NOVAGOLD RES INC 0.9%

Value ($000) $25,212 (-41.5%) Shares 2,705,100 (-44.7%) Est. Cost $3.70 Unrealized +150.5%

AEM AGNICO EAGLE MINES LTD 0.2%

Value ($000) $4,696 (-67.9%) Shares 27,700 (-68.1%) Est. Cost $50.41 Unrealized +233.0%

AAMI ACADIAN ASSET MANAGEMENT INC 2.3%

Value ($000) $66,014 (-11.1%) Shares 1,404,562 (-8.9%) Est. Cost $23.36 Unrealized +97.3%

SIRI SIRIUSXM HOLDINGS INC 0.5%

Value ($000) $13,852 (-34.3%) Shares 692,775 (-23.5%) Est. Cost $31.06 Unrealized -30.8%

— ANI PHARMACEUTICALS INC 0.9%

Value ($000) $26,486 (-18.0%) Shares 21,000,000 (-8.7%) Est. Cost $1.40 Unrealized —

PPTA PERPETUA RESOURCES CORP 0.9%

Value ($000) $24,909 (-18.9%) Shares 1,028,853 (-32.2%) Est. Cost $13.74 Unrealized +79.0%

AGI ALAMOS GOLD INC NEW 0.3%

Value ($000) $7,843 (-42.5%) Shares 203,300 (-48.0%) Est. Cost $12.28 Unrealized +183.7%

CAH CARDINAL HEALTH INC 1.8%

Value ($000) $50,923 (-9.2%) Shares 247,800 (-30.7%) Est. Cost $129.46 Unrealized +45.0%

OXY OCCIDENTAL PETE CORP 0.2%

Value ($000) $4,313 (-52.2%) Shares 104,900 (-45.1%) Est. Cost $44.74 Unrealized -7.1%

— PAGERDUTY INC 0.9%

Value ($000) $27,132 (-14.7%) Shares 28,500,000 (-12.3%) Est. Cost $0.98 Unrealized —

— MKS INC. 1.1%

Value ($000) $30,427 (+10.9%) Shares 23,800,000 (-4.8%) Est. Cost $1.01 Unrealized —

VTOL BRISTOW GROUP INC 1.5%

Value ($000) $44,479 (-3.4%) Shares 1,214,599 (-4.8%) Est. Cost $16.81 Unrealized +123.9%

SBGI SINCLAIR INC 0.6%

Value ($000) $15,981 (-7.5%) Shares 1,044,493 (-8.7%) Est. Cost $13.96 Unrealized +6.4%

SNCY SUN CTRY AIRLS HLDGS INC 0.3%

Value ($000) $9,210 (+6.5%) Shares 640,000 (-12.6%) Est. Cost $11.32 Unrealized +12.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SHEL	SHELL PLC	1,700,000 (-32.0%)	$124,916 (-30.1%)	4.4%	$71.37	—	SPON ADS	780259305
—	BLACKLINE INC	1,500,000 (-96.6%)	$1,585 (-96.5%)	0.1%	$1.06	—	NOTE 1.000% 6/0	09239BAF6
MPC	MARATHON PETE CORP	436,500 (-22.4%)	$70,988 (-34.5%)	2.5%	$146.85	+26.9%	COM	56585A102
AER	AERCAP HOLDINGS NV	1,100,000 (-26.7%)	$158,136 (-12.9%)	5.5%	$56.56	+134.2%	SHS	N00985106
SATS	ECHOSTAR CORP	189,000 (-66.8%)	$20,544 (-52.8%)	0.7%	$32.48	+150.7%	CL A	278768106
NG	NOVAGOLD RES INC	2,705,100 (-44.7%)	$25,212 (-41.5%)	0.9%	$3.70	+150.5%	COM NEW	66987E206
AEM	AGNICO EAGLE MINES LTD	27,700 (-68.1%)	$4,696 (-67.9%)	0.2%	$50.41	+233.0%	COM	008474108
AAMI	ACADIAN ASSET MANAGEMENT INC	1,404,562 (-8.9%)	$66,014 (-11.1%)	2.3%	$23.36	+97.3%	COM	10948W103
SIRI	SIRIUSXM HOLDINGS INC	692,775 (-23.5%)	$13,852 (-34.3%)	0.5%	$31.06	-30.8%	COMMON STOCK	829933100
—	ANI PHARMACEUTICALS INC	21,000,000 (-8.7%)	$26,486 (-18.0%)	0.9%	$1.40	—	NOTE 2.250% 9/0	00182CAC7
PPTA	PERPETUA RESOURCES CORP	1,028,853 (-32.2%)	$24,909 (-18.9%)	0.9%	$13.74	+79.0%	COM	714266103
AGI	ALAMOS GOLD INC NEW	203,300 (-48.0%)	$7,843 (-42.5%)	0.3%	$12.28	+183.7%	COM CL A	011532108
CAH	CARDINAL HEALTH INC	247,800 (-30.7%)	$50,923 (-9.2%)	1.8%	$129.46	+45.0%	COM	14149Y108
OXY	OCCIDENTAL PETE CORP	104,900 (-45.1%)	$4,313 (-52.2%)	0.2%	$44.74	-7.1%	COM	674599105
—	PAGERDUTY INC	28,500,000 (-12.3%)	$27,132 (-14.7%)	0.9%	$0.98	—	NOTE 1.500%10/1	69553PAD2
—	MKS INC.	23,800,000 (-4.8%)	$30,427 (+10.9%)	1.1%	$1.01	—	NOTE 1.250% 6/0	55306NAB0
VTOL	BRISTOW GROUP INC	1,214,599 (-4.8%)	$44,479 (-3.4%)	1.5%	$16.81	+123.9%	COM	11040G103
SBGI	SINCLAIR INC	1,044,493 (-8.7%)	$15,981 (-7.5%)	0.6%	$13.96	+6.4%	CL A	829242106
SNCY	SUN CTRY AIRLS HLDGS INC	640,000 (-12.6%)	$9,210 (+6.5%)	0.3%	$11.32	+12.9%	COM	866683105

Unchanged Positions (30)

ENVA ENOVA INTL INC 2.4%

Value ($000) $69,414 Shares 441,564 Est. Cost $47.28 Unrealized +175.3%

LBRDK LIBERTY BROADBAND CORP 1.6%

Value ($000) $44,750 Shares 920,781 Est. Cost $81.89 Unrealized -36.5%

BTI BRITISH AMERN TOB PLC 4.3%

Value ($000) $124,564 Shares 2,200,000 Est. Cost $50.60 Unrealized —

LBRDA LIBERTY BROADBAND CORP 0.8%

Value ($000) $24,140 Shares 500,000 Est. Cost $83.11 Unrealized -37.7%

VSAT VIASAT INC 1.4%

Value ($000) $39,215 Shares 1,138,000 Est. Cost $23.92 Unrealized +47.6%

PCG PG&E CORP 3.3%

Value ($000) $94,813 Shares 5,900,000 Est. Cost $16.68 Unrealized -4.5%

NMRK NEWMARK GROUP INC 2.6%

Value ($000) $75,605 Shares 4,360,150 Est. Cost $6.81 Unrealized +157.1%

NN NEXTNAV INC 1.1%

Value ($000) $31,383 Shares 1,886,000 Est. Cost $8.60 Unrealized +65.2%

TXNM TXNM ENERGY INC 3.0%

Value ($000) $84,938 Shares 1,442,554 Est. Cost $43.14 Unrealized +33.8%

— PENGUIN SOLUTIONS INC 0.4%

Value ($000) $10,658 Shares 10,500,000 Est. Cost $1.19 Unrealized —

NNI NELNET INC 1.1%

Value ($000) $30,714 Shares 231,000 Est. Cost $125.09 Unrealized +4.6%

ACIC AMERICAN COASTAL INS CORP 0.4%

Value ($000) $11,879 Shares 940,500 Est. Cost $10.43 Unrealized +8.9%

AEXA AMERICAN EXCEPTIONALISM ACQU 0.5%

Value ($000) $14,010 Shares 1,230,000 Est. Cost $10.77 Unrealized +4.2%

TDS TELEPHONE & DATA SYS INC 0.4%

Value ($000) $12,300 Shares 300,000 Est. Cost $16.99 Unrealized +129.3%

BCSS/U BAIN CAP GSS INVT CORP 1.4%

Value ($000) $40,778 Shares 3,990,000 Est. Cost $10.09 Unrealized —

AMBP ARDAGH METAL PACKAGING S A 0.6%

Value ($000) $16,400 Shares 4,000,000 Est. Cost $7.46 Unrealized -49.1%

CRK COMSTOCK RES INC 0.1%

Value ($000) $2,756 Shares 118,900 Est. Cost $22.76 Unrealized -3.2%

CCIX CHURCHILL CAPITAL CORP IX 1.0%

Value ($000) $27,995 Shares 2,633,582 Est. Cost $10.18 Unrealized +4.6%

CTRA COTERRA ENERGY INC 0.1%

Value ($000) $3,037 Shares 115,400 Est. Cost $24.80 Unrealized +1.2%

RRC RANGE RES CORP 0.1%

Value ($000) $3,572 Shares 101,300 Est. Cost $37.69 Unrealized -1.2%

EXE EXPAND ENERGY CORPORATION 0.1%

Value ($000) $3,807 Shares 34,500 Est. Cost $109.10 Unrealized +1.4%

AR ANTERO RESOURCES CORP 0.1%

Value ($000) $3,494 Shares 101,400 Est. Cost $37.87 Unrealized -10.6%

GLIBA GCI LIBERTY INC 0.1%

Value ($000) $3,687 Shares 99,999 Est. Cost $35.52 Unrealized -1.2%

EQT EQT CORP 0.1%

Value ($000) $3,838 Shares 71,600 Est. Cost $53.58 Unrealized +4.8%

GTEN GORES HLDGS X INC 0.5%

Value ($000) $15,119 Shares 1,475,000 Est. Cost $10.22 Unrealized +1.0%

CCIXW CHURCHILL CAPITAL CORP IX 0.0%

Value ($000) $389 Shares 440,000 Est. Cost $0.43 Unrealized —

CAEP CANTOR EQUITY PARTNERS III I 0.1%

Value ($000) $2,550 Shares 250,000 Est. Cost $10.53 Unrealized -1.5%

CEPF CANTOR EQUITY PARTNERS IV IN 0.1%

Value ($000) $3,084 Shares 300,000 Est. Cost $10.15 Unrealized +2.4%

BENFW BENEFICIENT 0.0%

Value ($000) $1 Shares 100,000 Est. Cost $0.05 Unrealized —

COCHW ENVOY MEDICAL INC 0.0%

Value ($000) $3 Shares 75,000 Est. Cost $0.02 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ENVA	ENOVA INTL INC	441,564	$69,414	2.4%	$47.28	+175.3%	COM	29357K103
LBRDK	LIBERTY BROADBAND CORP	920,781	$44,750	1.6%	$81.89	-36.5%	COM SER C	530307305
BTI	BRITISH AMERN TOB PLC	2,200,000	$124,564	4.3%	$50.60	—	SPONSORED ADR	110448107
LBRDA	LIBERTY BROADBAND CORP	500,000	$24,140	0.8%	$83.11	-37.7%	COM SER A	530307107
VSAT	VIASAT INC	1,138,000	$39,215	1.4%	$23.92	+47.6%	COM	92552V100
PCG	PG&E CORP	5,900,000	$94,813	3.3%	$16.68	-4.5%	COM	69331C108
NMRK	NEWMARK GROUP INC	4,360,150	$75,605	2.6%	$6.81	+157.1%	CL A	65158N102
NN	NEXTNAV INC	1,886,000	$31,383	1.1%	$8.60	+65.2%	COMMON STOCK	65345N106
TXNM	TXNM ENERGY INC	1,442,554	$84,938	3.0%	$43.14	+33.8%	COM	69349H107
—	PENGUIN SOLUTIONS INC	10,500,000	$10,658	0.4%	$1.19	—	NOTE 2.000% 8/1	83205YAE4
NNI	NELNET INC	231,000	$30,714	1.1%	$125.09	+4.6%	CL A	64031N108
ACIC	AMERICAN COASTAL INS CORP	940,500	$11,879	0.4%	$10.43	+8.9%	COM	910710102
AEXA	AMERICAN EXCEPTIONALISM ACQU	1,230,000	$14,010	0.5%	$10.77	+4.2%	ORD CL A	G0273J101
TDS	TELEPHONE & DATA SYS INC	300,000	$12,300	0.4%	$16.99	+129.3%	COM NEW	879433829
BCSS/U	BAIN CAP GSS INVT CORP	3,990,000	$40,778	1.4%	$10.09	—	UNIT 99/99/9999	G0R78B122
AMBP	ARDAGH METAL PACKAGING S A	4,000,000	$16,400	0.6%	$7.46	-49.1%	SHS	L02235106
CRK	COMSTOCK RES INC	118,900	$2,756	0.1%	$22.76	-3.2%	COM	205768302
CCIX	CHURCHILL CAPITAL CORP IX	2,633,582	$27,995	1.0%	$10.18	+4.6%	CL A SHS	G21301109
CTRA	COTERRA ENERGY INC	115,400	$3,037	0.1%	$24.80	+1.2%	COM	127097103
RRC	RANGE RES CORP	101,300	$3,572	0.1%	$37.69	-1.2%	COM	75281A109
EXE	EXPAND ENERGY CORPORATION	34,500	$3,807	0.1%	$109.10	+1.4%	COM	165167735
AR	ANTERO RESOURCES CORP	101,400	$3,494	0.1%	$37.87	-10.6%	COM	03674X106
GLIBA	GCI LIBERTY INC	99,999	$3,687	0.1%	$35.52	-1.2%	COM SER A	36164V602
EQT	EQT CORP	71,600	$3,838	0.1%	$53.58	+4.8%	COM	26884L109
GTEN	GORES HLDGS X INC	1,475,000	$15,119	0.5%	$10.22	+1.0%	SHS CL A	G4002F109
CCIXW	CHURCHILL CAPITAL CORP IX	440,000	$389	0.0%	$0.43	—	*W EXP 03/31/203	G21301117
CAEP	CANTOR EQUITY PARTNERS III I	250,000	$2,550	0.1%	$10.53	-1.5%	SHS CL A	G1828A108
CEPF	CANTOR EQUITY PARTNERS IV IN	300,000	$3,084	0.1%	$10.15	+2.4%	SHS CL A	G1828E100
BENFW	BENEFICIENT	100,000	$1	0.0%	$0.05	—	*W EXP 06/07/202	08178Q119
COCHW	ENVOY MEDICAL INC	75,000	$3	0.0%	$0.02	—	*W EXP 09/29/202	29415V117