Q Global Advisors, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	14,658	$10	9.8%	$0.68	—	TR UNIT	78462F103
NCLH	NORWEGIAN CRUISE LINE HLDG L	270,094	$6	5.9%	$21.11	0.0%	SHS	G66721104
FBRT	FRANKLIN BSP RLTY TR INC	301,355	$3	3.0%	$0.01	—	COMMON STOCK	35243J101
PGY	PAGAYA TECHNOLOGIES LTD	126,555	$3	2.6%	$25.47	0.0%	CL A NEW	M7S64L123
CCL	CARNIVAL CORP	64,695	$2	1.9%	$27.88	0.0%	UNIT 99/99/9999	143658300
BX	BLACKSTONE INC	12,744	$2	1.9%	$151.46	0.0%	COM	09260D107
BRSP	BRIGHTSPIRE CAPITAL INC	92,588	$1	0.5%	$0.01	—	COM CL A	10949T109
GPMT	GRANITE PT MTG TR INC	183,717	$0	0.4%	$0.00	—	COM STK	38741L107
FUSEW	FUSEMACHINES INC	179,614	$0	0.0%	$0.00	—	*W EXP 10/22/203	36118R111

Increased Positions (3)

ASND ASCENDIS PHARMA A/S 39.9%

Value ($000) $41 (+19.9%) Shares 190,000 (+11.8%) Est. Cost $34.00 Unrealized —

TRTX TPG RE FIN TR INC 5.3%

Value ($000) $5 (+22.4%) Shares 629,103 (+21.7%) Est. Cost $0.01 Unrealized —

RCL ROYAL CARIBBEAN GROUP 1.7%

Value ($000) $2 (+60.8%) Shares 6,250 (+86.6%) Est. Cost $255.68 Unrealized +10.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ASND	ASCENDIS PHARMA A/S	190,000 (+11.8%)	$41 (+19.9%)	39.9%	$34.00	—	SPONSORED ADR	04351P101
TRTX	TPG RE FIN TR INC	629,103 (+21.7%)	$5 (+22.4%)	5.3%	$0.01	—	COM	87266M107
RCL	ROYAL CARIBBEAN GROUP	6,250 (+86.6%)	$2 (+60.8%)	1.7%	$255.68	+10.1%	COM	V7780T103

Exited Positions (3)

SVIWF SPRING VALLEY ACQUISTN CORP 0.3%

Value ($000) $0 Shares 204,670 Est. Cost $0.00 Unrealized —

CEROW CERO THERAPEUTICS HLDGS INC 0.0%

Value ($000) $0 Shares 170,785 Est. Cost $0.34 Unrealized —

— ADVANTAGE SOLUTIONS INC 0.0%

Value ($000) $0 Shares 39,401 Est. Cost $0.23 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SVIWF	SPRING VALLEY ACQUISTN CORP	204,670	$0	0.3%	$0.00	—	—	G83752116
CEROW	CERO THERAPEUTICS HLDGS INC	170,785	$0	0.0%	$0.34	—	—	71902K113
—	ADVANTAGE SOLUTIONS INC	39,401	$0	0.0%	$0.23	—	—	00791N110

Decreased Positions (6)

ENVA ENOVA INTL INC 13.2%

Value ($000) $13 (+27.6%) Shares 85,219 (-6.6%) Est. Cost $108.49 Unrealized +20.0%

HLF HERBALIFE LTD 4.9%

Value ($000) $5 (+17.5%) Shares 388,891 (-23.1%) Est. Cost $7.39 Unrealized +43.2%

BZAIW BLAIZE HLDGS INC 0.1%

Value ($000) $0 (-61.3%) Shares 150,000 (-40.0%) Est. Cost $0.00 Unrealized —

AISPW AIRSHIP AI HLDGS INC 0.0%

Value ($000) $0 (-76.2%) Shares 25,090 (-49.9%) Est. Cost $0.00 Unrealized —

FBYDW FALCONS BEYOND GLOBAL INC 0.1%

Value ($000) $0 (-31.1%) Shares 25,000 (-43.1%) Est. Cost $0.00 Unrealized —

NUAIW NEW ERA ENERGY & DIGITAL INC 0.1%

Value ($000) $0 (-7.5%) Shares 75,000 (-61.9%) Est. Cost $0.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ENVA	ENOVA INTL INC	85,219 (-6.6%)	$13 (+27.6%)	13.2%	$108.49	+20.0%	COM	29357K103
HLF	HERBALIFE LTD	388,891 (-23.1%)	$5 (+17.5%)	4.9%	$7.39	+43.2%	COM SHS	G4412G101
BZAIW	BLAIZE HLDGS INC	150,000 (-40.0%)	$0 (-61.3%)	0.1%	$0.00	—	*W EXP 01/13/203	092915115
AISPW	AIRSHIP AI HLDGS INC	25,090 (-49.9%)	$0 (-76.2%)	0.0%	$0.00	—	*W EXP 12/21/202	008940116
FBYDW	FALCONS BEYOND GLOBAL INC	25,000 (-43.1%)	$0 (-31.1%)	0.1%	$0.00	—	*W EXP 10/06/202	306121112
NUAIW	NEW ERA ENERGY & DIGITAL INC	75,000 (-61.9%)	$0 (-7.5%)	0.1%	$0.00	—	*W EXP 12/06/202	64428N117

Unchanged Positions (30)

TDG TRANSDIGM GROUP INC 8.2%

Value ($000) $8 Shares 6,276 Est. Cost $1229.53 Unrealized +6.6%

FLDDW FOLD HLDGS INC 0.0%

Value ($000) $0 Shares 203,778 Est. Cost $0.00 Unrealized —

MNYWW MONEYHERO LIMITED 0.0%

Value ($000) $0 Shares 470,085 Est. Cost $0.00 Unrealized —

RDZNW ROADZEN INC 0.0%

Value ($000) $0 Shares 150,816 Est. Cost $0.00 Unrealized —

CNCKW COINCHECK GROUP NV 0.0%

Value ($000) $0 Shares 89,237 Est. Cost $0.00 Unrealized —

MRNOW MURANO GLOBAL INVTS PLC 0.0%

Value ($000) $0 Shares 218,153 Est. Cost $0.00 Unrealized —

MDAIW SPECTRAL AI INC 0.0%

Value ($000) $0 Shares 99,670 Est. Cost $0.00 Unrealized —

NAMMW NAMIB MINERALS 0.0%

Value ($000) $0 Shares 358,060 Est. Cost $0.00 Unrealized —

SLND/WS SOUTHLAND HLDGS INC 0.0%

Value ($000) $0 Shares 163,529 Est. Cost $0.00 Unrealized —

GRRRW GORILLA TECHNOLOGY GROUP INC 0.0%

Value ($000) $0 Shares 43,676 Est. Cost — Unrealized —

CLSKW CLEANSPARK INC 0.0%

Value ($000) $0 Shares 100,000 Est. Cost $0.00 Unrealized —

RZLVW REZOLVE AI PLC 0.0%

Value ($000) $0 Shares 13,356 Est. Cost $0.00 Unrealized —

RAINW RAIN ENHANCEMENT TECHNOLOGIE 0.0%

Value ($000) $0 Shares 85,137 Est. Cost $0.00 Unrealized —

WGSWW GENEDX HOLDINGS CORP 0.0%

Value ($000) $0 Shares 111,701 Est. Cost $0.15 Unrealized —

BNAIW BRAND ENGAGEMENT NETWORK INC 0.0%

Value ($000) $0 Shares 194,164 Est. Cost $0.00 Unrealized —

BRLSW BOREALIS FOODS INC 0.0%

Value ($000) $0 Shares 224,685 Est. Cost $0.00 Unrealized —

PSQH/WS PSQ HOLDINGS INC 0.0%

Value ($000) $0 Shares 60,000 Est. Cost $0.00 Unrealized —

SCAGW SCAGE FUTURE 0.0%

Value ($000) $0 Shares 211,287 Est. Cost — Unrealized —

FLYX/WS FLYEXCLUSIVE INC 0.0%

Value ($000) $0 Shares 113,099 Est. Cost $0.00 Unrealized —

DAICW CID HOLDCO INC 0.0%

Value ($000) $0 Shares 59,602 Est. Cost $0.00 Unrealized —

AMODW ALPHA MODUS HLDGS INC 0.0%

Value ($000) $0 Shares 99,534 Est. Cost $0.00 Unrealized —

TBLAW TABOOLA.COM LTD 0.0%

Value ($000) $0 Shares 46,078 Est. Cost $0.34 Unrealized —

BDMDW BAIRD MED INVT HLDGS LTD 0.0%

Value ($000) $0 Shares 72,992 Est. Cost $0.00 Unrealized —

BSLKW BOLT PROJS HLDGS INC 0.0%

Value ($000) $0 Shares 106,937 Est. Cost $0.00 Unrealized —

CRPWF CARBON REVOLUTION LTD 0.0%

Value ($000) $0 Shares 105,521 Est. Cost $0.00 Unrealized —

LNZAW LANZATECH GLOBAL INC 0.0%

Value ($000) $0 Shares 106,974 Est. Cost $0.00 Unrealized —

TVGNW TEVOGEN BIO HLDGS INC 0.0%

Value ($000) $0 Shares 132,146 Est. Cost $0.00 Unrealized —

NVNIW NVNI GROUP LIMITED 0.0%

Value ($000) $0 Shares 130,872 Est. Cost $0.00 Unrealized —

COCHW ENVOY MEDICAL INC 0.0%

Value ($000) $0 Shares 129,120 Est. Cost $0.00 Unrealized —

ECXWW ECARX HOLDINGS INC 0.0%

Value ($000) $0 Shares 19,614 Est. Cost $0.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TDG	TRANSDIGM GROUP INC	6,276	$8	8.2%	$1229.53	+6.6%	COM	893641100
FLDDW	FOLD HLDGS INC	203,778	$0	0.0%	$0.00	—	*W EXP 02/14/203	29103K118
MNYWW	MONEYHERO LIMITED	470,085	$0	0.0%	$0.00	—	*W EXP 09/13/202	G6202B119
RDZNW	ROADZEN INC	150,816	$0	0.0%	$0.00	—	*W EXP 11/30/202	G7606H116
CNCKW	COINCHECK GROUP NV	89,237	$0	0.0%	$0.00	—	*W EXP 12/11/202	N20967100
MRNOW	MURANO GLOBAL INVTS PLC	218,153	$0	0.0%	$0.00	—	*W EXP 03/19/202	G63369113
MDAIW	SPECTRAL AI INC	99,670	$0	0.0%	$0.00	—	*W EXP 99/99/999	84757T113
NAMMW	NAMIB MINERALS	358,060	$0	0.0%	$0.00	—	*W EXP 06/05/203	G63638111
SLND/WS	SOUTHLAND HLDGS INC	163,529	$0	0.0%	$0.00	—	*W EXP 02/14/202	84445C118
GRRRW	GORILLA TECHNOLOGY GROUP INC	43,676	$0	0.0%	—	—	*W EXP 99/99/999	G4000K118
CLSKW	CLEANSPARK INC	100,000	$0	0.0%	$0.00	—	*W EXP 12/29/202	18452B118
RZLVW	REZOLVE AI PLC	13,356	$0	0.0%	$0.00	—	*W EXP 08/15/202	G75398118
RAINW	RAIN ENHANCEMENT TECHNOLOGIE	85,137	$0	0.0%	$0.00	—	*W EXP 12/31/202	75080J111
WGSWW	GENEDX HOLDINGS CORP	111,701	$0	0.0%	$0.15	—	*W EXP 07/22/202	81663L119
BNAIW	BRAND ENGAGEMENT NETWORK INC	194,164	$0	0.0%	$0.00	—	*W EXP 03/14/202	104932116
BRLSW	BOREALIS FOODS INC	224,685	$0	0.0%	$0.00	—	*W EXP 02/07/202	09973D113
PSQH/WS	PSQ HOLDINGS INC	60,000	$0	0.0%	$0.00	—	*W EXP 07/19/202	693691115
SCAGW	SCAGE FUTURE	211,287	$0	0.0%	—	—	*W EXP 05/15/203	G7840J118
FLYX/WS	FLYEXCLUSIVE INC	113,099	$0	0.0%	$0.00	—	*W EXP 99/99/999	343928115
DAICW	CID HOLDCO INC	59,602	$0	0.0%	$0.00	—	*W EXP 12/31/202	171756117
AMODW	ALPHA MODUS HLDGS INC	99,534	$0	0.0%	$0.00	—	*W EXP 12/13/202	020952115
TBLAW	TABOOLA.COM LTD	46,078	$0	0.0%	$0.34	—	*W EXP 99/99/999	M8744T114
BDMDW	BAIRD MED INVT HLDGS LTD	72,992	$0	0.0%	$0.00	—	*W EXP 10/01/202	G0705H111
BSLKW	BOLT PROJS HLDGS INC	106,937	$0	0.0%	$0.00	—	*W EXP 08/13/202	09769B115
CRPWF	CARBON REVOLUTION LTD	105,521	$0	0.0%	$0.00	—	*W EXP 99/99/999	G1893D110
LNZAW	LANZATECH GLOBAL INC	106,974	$0	0.0%	$0.00	—	*W EXP 01/01/202	51655R119
TVGNW	TEVOGEN BIO HLDGS INC	132,146	$0	0.0%	$0.00	—	*W EXP 02/14/202	88165K119
NVNIW	NVNI GROUP LIMITED	130,872	$0	0.0%	$0.00	—	*W EXP 11/01/202	G50716110
COCHW	ENVOY MEDICAL INC	129,120	$0	0.0%	$0.00	—	*W EXP 09/29/202	29415V117
ECXWW	ECARX HOLDINGS INC	19,614	$0	0.0%	$0.00	—	*W EXP 99/99/999	G29201111