DG Capital Management, LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	50,000	$34,096	15.0%	—	—	PUT	78462F103
—	RIOT PLATFORMS INC	11,500,000	$13,041	5.7%	$1.13	—	NOTE 0.750% 1/1	767292AB1
OKLO	OKLO INC	111,500	$8,001	3.5%	—	—	PUT	02156V109
SMR	NUSCALE PWR CORP	178,000	$2,522	1.1%	—	—	PUT	67079K100
TLN	TALEN ENERGY CORP	2,512	$942	0.4%	$388.68	0.0%	COM	87422Q109
TISI	TEAM INC	64,647	$913	0.4%	$14.99	0.0%	COM NEW	878155308
ACIC	AMERICAN COASTAL INS CORP	36,100	$456	0.2%	$10.44	+8.8%	CALL	910710102

Increased Positions (3)

MCY MERCURY GENL CORP NEW 20.0%

Value ($000) $45,638 (+63.8%) Shares 485,200 (+47.6%) Est. Cost $55.40 Unrealized +56.6%

ACIC AMERICAN COASTAL INS CORP 5.9%

Value ($000) $13,549 (+21.1%) Shares 1,072,728 (+9.2%) Est. Cost $10.44 Unrealized +8.8%

— SAREPTA THERAPEUTICS INC 8.8%

Value ($000) $19,954 (+3.1%) Shares 22,245,000 (+1.1%) Est. Cost $0.88 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MCY	MERCURY GENL CORP NEW	485,200 (+47.6%)	$45,638 (+63.8%)	20.0%	$55.40	+56.6%	CALL	589400100
ACIC	AMERICAN COASTAL INS CORP	1,072,728 (+9.2%)	$13,549 (+21.1%)	5.9%	$10.44	+8.8%	COM	910710102
—	SAREPTA THERAPEUTICS INC	22,245,000 (+1.1%)	$19,954 (+3.1%)	8.8%	$0.88	—	NOTE 1.250% 9/1	803607AD2

Exited Positions (6)

GEO GEO GROUP INC NEW 8.8%

Value ($000) $20,043 Shares 978,200 Est. Cost — Unrealized —

IWM ISHARES TR 7.4%

Value ($000) $16,937 Shares 70,000 Est. Cost — Unrealized —

CXW CORECIVIC INC 3.8%

Value ($000) $8,561 Shares 420,700 Est. Cost — Unrealized —

XPOF XPONENTIAL FITNESS INC 0.6%

Value ($000) $1,438 Shares 184,546 Est. Cost $9.12 Unrealized -22.1%

CYH COMMUNITY HEALTH SYS INC NEW 0.1%

Value ($000) $247 Shares 77,100 Est. Cost — Unrealized —

ECXWW ECARX HOLDINGS INC 0.0%

Value ($000) $2 Shares 46,113 Est. Cost $0.10 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GEO	GEO GROUP INC NEW	978,200	$20,043	8.8%	—	—	CALL	36162J106
IWM	ISHARES TR	70,000	$16,937	7.4%	—	—	PUT	464287655
CXW	CORECIVIC INC	420,700	$8,561	3.8%	—	—	CALL	21871N101
XPOF	XPONENTIAL FITNESS INC	184,546	$1,438	0.6%	$9.12	-22.1%	—	98422X101
CYH	COMMUNITY HEALTH SYS INC NEW	77,100	$247	0.1%	—	—	CALL	203668108
ECXWW	ECARX HOLDINGS INC	46,113	$2	0.0%	$0.10	—	—	G29201111

Decreased Positions (10)

TLT ISHARES TR 3.8%

Value ($000) $8,716 (-75.6%) Shares 100,000 (-75.0%) Est. Cost — Unrealized —

BUR BURFORD CAP LTD 0.4%

Value ($000) $828 (-96.8%) Shares 92,807 (-95.7%) Est. Cost $11.75 Unrealized -16.7%

CZR CAESARS ENTERTAINMENT INC NE 0.3%

Value ($000) $718 (-96.0%) Shares 30,715 (-95.4%) Est. Cost $33.42 Unrealized -32.7%

ATEX ANTERIX INC 0.2%

Value ($000) $464 (-97.1%) Shares 21,245 (-97.1%) Est. Cost $32.54 Unrealized -36.2%

MAGN MAGNERA CORP 0.2%

Value ($000) $557 (-95.9%) Shares 36,775 (-96.8%) Est. Cost $17.44 Unrealized -33.6%

CAPR CAPRICOR THERAPEUTICS INC 5.2%

Value ($000) $11,947 (+252.3%) Shares 413,963 (-12.0%) Est. Cost $7.36 Unrealized +77.4%

GLNG GOLAR LNG LTD 0.1%

Value ($000) $204 (-95.7%) Shares 5,481 (-95.4%) Est. Cost $40.92 Unrealized -6.9%

MCY MERCURY GENL CORP NEW 25.6%

Value ($000) $58,267 (+5.6%) Shares 619,469 (-4.8%) Est. Cost $55.40 Unrealized +56.6%

GEL GENESIS ENERGY L P 1.8%

Value ($000) $4,162 (-26.7%) Shares 266,800 (-21.5%) Est. Cost $13.39 Unrealized —

GEL GENESIS ENERGY L P 1.2%

Value ($000) $2,697 (-26.0%) Shares 172,916 (-20.8%) Est. Cost $13.39 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TLT	ISHARES TR	100,000 (-75.0%)	$8,716 (-75.6%)	3.8%	—	—	CALL	464287432
BUR	BURFORD CAP LTD	92,807 (-95.7%)	$828 (-96.8%)	0.4%	$11.75	-16.7%	ORD SHS	G17977110
CZR	CAESARS ENTERTAINMENT INC NE	30,715 (-95.4%)	$718 (-96.0%)	0.3%	$33.42	-32.7%	COM	12769G100
ATEX	ANTERIX INC	21,245 (-97.1%)	$464 (-97.1%)	0.2%	$32.54	-36.2%	COM	03676C100
MAGN	MAGNERA CORP	36,775 (-96.8%)	$557 (-95.9%)	0.2%	$17.44	-33.6%	COM SHS	55939A107
CAPR	CAPRICOR THERAPEUTICS INC	413,963 (-12.0%)	$11,947 (+252.3%)	5.2%	$7.36	+77.4%	COM NEW	14070B309
GLNG	GOLAR LNG LTD	5,481 (-95.4%)	$204 (-95.7%)	0.1%	$40.92	-6.9%	SHS	G9456A100
MCY	MERCURY GENL CORP NEW	619,469 (-4.8%)	$58,267 (+5.6%)	25.6%	$55.40	+56.6%	COM	589400100
GEL	GENESIS ENERGY L P	266,800 (-21.5%)	$4,162 (-26.7%)	1.8%	$13.39	—	CALL	371927104
GEL	GENESIS ENERGY L P	172,916 (-20.8%)	$2,697 (-26.0%)	1.2%	$13.39	—	UNIT LTD PARTN	371927104

Unchanged Positions (1)

UTHR UNITED THERAPEUTICS CORP DEL 0.1%

Value ($000) $272 Shares 558 Est. Cost $336.31 Unrealized +38.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UTHR	UNITED THERAPEUTICS CORP DEL	558	$272	0.1%	$336.31	+38.5%	COM	91307C102