Logan Stone Capital, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	PIMCO DYNAMIC INCOME FD	1,220,602	$21,617	5.3%	$17.71	—	SHS	72201Y101
—	GUGGENHEIM STRATEGIC OPPORTU	990,476	$12,757	3.1%	$12.88	—	COM SBI	40167F101
—	PIMCO CORPORATE & INCOME OPP	949,085	$12,243	3.0%	$12.90	—	COM	72201B101
—	DOUBLELINE INCOME SOLUTIONS	884,170	$9,965	2.5%	$11.27	—	COM	258622109
SVAQU	SILICON VY ACQUISITION CORP	750,000	$7,459	1.8%	$9.95	—	UNIT 12/08/2030	G81306105
GSOL	GRAYSCALE SOLANA TR ETF	659,344	$6,000	1.5%	$9.10	—	SHS	38965D104
ANSC	AGRICULTURE & NAT SOL ACQ CO	500,955	$5,606	1.4%	$11.09	0.0%	SHS CL A	G0131Y100
—	COHEN & STEERS TAX ADVAN PFD	268,583	$5,186	1.3%	$19.31	—	COM	19249X108
GIW	GIGCAPITAL8 CORP	512,612	$5,072	1.3%	$9.91	0.0%	ORD CL A	G3864J100
OBA	OXLEY BRIDGE ACQ LTD	502,424	$5,064	1.2%	$10.03	0.0%	USD CL A ORD SHS	G6858G107
CRAC	CROWN RESV ACQUISITION CORP	507,700	$5,047	1.2%	$9.91	0.0%	ORD SHS CL A	G2574F119
—	DOUBLELINE YIELD OPPORTUNITI	342,383	$4,978	1.2%	$14.54	—	COM	25862D105
—	COHEN & STEERS QUALITY INCOM	416,675	$4,758	1.2%	$11.42	—	COM	19247L106
KOYN	CSLM DIGITA ASSET ACQ CORP I	398,462	$3,965	1.0%	$9.96	0.0%	USD CL A ORD SHS	G2584S101
LKSP	LAKE SUPERIOR ACQUISITION CO	395,502	$3,923	1.0%	$9.92	0.0%	USD CL A ORD SHS	G5354C107
TVAI	THAYER VENTURES ACQ CORP II	379,200	$3,838	0.9%	$10.09	0.0%	CL A	G87890102
AIIA	AI INFRASTRUCTURE ACQUISI	365,399	$3,632	0.9%	$9.93	0.0%	ORD SHS CL A	G01336109
—	FIRST TR HIGH YIELD OPPRT 20	230,788	$3,247	0.8%	$14.07	—	COM	33741Q107
TACO	BERTO ACQUISITION CORP	316,198	$3,206	0.8%	$10.26	0.0%	ORD SHS	G1051H101
IXJ	ISHARES TR	29,167	$2,841	0.7%	$97.40	—	GLOB HLTHCRE ETF	464287325
MMTX	MILUNA ACQUISITION CORP	260,230	$2,579	0.6%	$9.89	0.0%	USD CL A ORD SHS	G6180J100
APAC	STONEBRIDGE ACQUISITION II C	252,000	$2,507	0.6%	$9.92	0.0%	CL A SHS	G85096108
—	BLACKSTONE STRATEGIC CRED 20	202,024	$2,380	0.6%	$11.78	—	COM SHS BEN IN	09257R101
SSEA	STARRY SEA ACQUISITION CORP	213,795	$2,141	0.5%	$9.98	0.0%	SHS	G8559L112
—	KKR INCOME OPPORTUNITIES FD	168,195	$1,949	0.5%	$11.59	—	COM	48249T106
—	COHEN & STEERS INFRASTRUCTUR	80,670	$1,945	0.5%	$24.11	—	COM	19248A109
ALIS	CALISA ACQUISITION CORP	165,931	$1,648	0.4%	$9.91	0.0%	ORD SHS	G1771C101
—	FIRST TR SR FLTG RATE INCOME	162,903	$1,640	0.4%	$10.07	—	COM	33733U108
—	NUVEEN GLOBAL HIGH INCOME FD	121,485	$1,532	0.4%	$12.61	—	SHS	67075G103
—	INDIA FD INC	109,531	$1,502	0.4%	$13.71	—	COM	454089103
LWAC	LIGHTWAVE ACQUISITION CORP	144,603	$1,452	0.4%	$10.05	0.0%	USD CL A ORD SHS	G5490M100
—	NYLI MACKAY DEFINEDTERM MUNI	97,306	$1,447	0.4%	$14.87	—	COM	56064K100
—	ARES DYNAMIC CR ALLOCATION F	108,646	$1,445	0.4%	$13.30	—	COM	04014F102
—	EATON VANCE ENHANCED EQUITY	60,815	$1,424	0.4%	$23.41	—	COM	278277108
GTERA	GLOBA TERRA ACQUISITION COR	140,014	$1,414	0.3%	$10.05	0.0%	CL A ORD SHS	G3933N116
—	SABA CAPITAL INCOME & OPRNT	176,138	$1,235	0.3%	$7.01	—	SHS NEW	78518H202
—	LIBERTY ALL STAR EQUITY FD	194,895	$1,224	0.3%	$6.28	—	SH BEN INT	530158104
—	PIMCO MUN INCOME FD II	159,011	$1,199	0.3%	$7.54	—	COM	72200W106
—	WESTERN ASSET HIGH YIELD OPP	93,990	$1,049	0.3%	$11.16	—	COM	95768B107
—	EATON VANCE TAX-MANAGED BUY-	72,440	$1,040	0.3%	$14.36	—	COM	27828Y108
TDWD	TAILWIND 2.0 ACQUISITION COR	105,595	$1,040	0.3%	$9.86	0.0%	ORD SHS CL A	G8662J111
—	BLACKSTONE LONG SHORT CR INC	86,012	$1,003	0.2%	$11.66	—	COM SHS BN INT	09257D102
LEGT	LEGATO MERGER CORP III	91,477	$995	0.2%	$10.84	0.0%	ORD SHS	G5451A103
—	RIVERNORTH DOUBLELINE STRATE	117,642	$935	0.2%	$7.95	—	COM	76882G107
—	NUVEEN S&P 500 BUY-WRITE INC	58,669	$862	0.2%	$14.70	—	COM	6706ER101
—	RIVERNORTH FLEXIBLE MUNI INC	67,255	$851	0.2%	$12.66	—	COM	76883Y107
MKLY	MCKINLEY ACQUISITION CORP	85,377	$851	0.2%	$9.95	0.0%	SHS CL A	G6005T101
—	BLACKROCK TAX MUNICPAL BD TR	50,949	$831	0.2%	$16.32	—	SHS	09248X100
AAXJ	ISHARES TR	8,699	$810	0.2%	$93.12	—	MSCI AC ASIA ETF	464288182
—	ROYCE SMALL CAP TRUST INC	48,819	$786	0.2%	$16.10	—	COM	780910105
—	LMP CAP & INCOME FD INC	50,132	$742	0.2%	$14.81	—	COM	50208A102
—	EATON VANCE TAX-MANAGED GLOB	80,471	$742	0.2%	$9.22	—	COM	27829C105
—	EATON VANCE TAX ADVT DIV INC	29,218	$736	0.2%	$25.18	—	COM	27828G107
CCIX	CHURCHILL CAPITAL CORP IX	66,965	$712	0.2%	$10.65	0.0%	CL A SHS	G21301109
—	BLACKROCK MUNIYILD QULT FD I	58,233	$658	0.2%	$11.30	—	COM	09254F100
—	PGIM SHORT DUR HIG YLD OPP F	35,653	$586	0.1%	$16.45	—	COM	69355J104
BH	BIGLARI HLDGS INC	1,620	$539	0.1%	$335.75	0.0%	COM STK CL B	08986R309
—	RIVERNORTH MANAGED DUR MUN I	39,029	$531	0.1%	$13.61	—	COM	76882H105
—	ABRDN ASIA PACIFIC INCOME FU	34,303	$526	0.1%	$15.34	—	COM NEW	003009867
—	COHEN & STEERS REAL ESTATE O	35,689	$525	0.1%	$14.70	—	SHS BENFIN INT	19249Q103
—	HANCOCK JOHN PREM DIVID FD	39,695	$504	0.1%	$12.70	—	COM SH BEN INT	41013T105
—	BLACKROCK MUNIYIELD QUALITY	43,600	$474	0.1%	$10.87	—	COM	09254E103
EVAC	EQV VENTURES AC CORP. II	44,339	$445	0.1%	$10.01	0.0%	ORD SHS CL A	G3106Q102
—	HANCOCK JOHN FINL OPPTYS FD	12,670	$444	0.1%	$35.08	—	SH BEN INT NEW	409735206
—	BLACKROCK CORE BD TR	45,829	$440	0.1%	$9.59	—	SHS BEN INT	09249E101
INAC	INDIGO ACQUISITION CORP	43,564	$438	0.1%	$10.02	0.0%	ORD SHS	G4791J106
—	ABRDN INCOME CREDIT STRATEGI	80,274	$434	0.1%	$5.41	—	COM	003057106
—	BLACKROCK MUNIYIELD PA QLTY	37,529	$416	0.1%	$11.08	—	COM	09255G107
—	FIRST TR ENHANCED EQUITY INC	18,767	$413	0.1%	$22.02	—	COM	337318109
—	CALAMOS LNG SHR EQT DYNAMIC	26,240	$384	0.1%	$14.62	—	COM	12812C106
—	EATON VANCE MUN BD FD	39,288	$382	0.1%	$9.73	—	COM	27827X101
KFII	K&F GROWTH ACQUISITION CORP	36,519	$377	0.1%	$10.28	0.0%	SHS CL A	G52258111
—	CALAMOS STRATEGIC TOTAL RETU	19,608	$376	0.1%	$19.20	—	COM SH BEN INT	128125101
—	WESTERN ASSET MTG DEFINED OP	33,392	$369	0.1%	$11.06	—	COM	95790B109
—	COHEN & STEERS SELECT PFD &	17,077	$346	0.1%	$20.28	—	COM	19248Y107
—	HIGH INCOME SECS FD	55,591	$342	0.1%	$6.15	—	SHS BEN INT	42968F108
—	MFS CHARTER INCOME TR	53,958	$338	0.1%	$6.27	—	SH BEN INT	552727109
—	BLACKROCK HEALTH SCIENCES TE	21,737	$327	0.1%	$15.05	—	COM SHS	09260E105
ALF	CENTURION ACQUISITION CORP	30,614	$326	0.1%	$10.61	0.0%	SHS CL A	G20315100
SPKL	SPARK I ACQUISITION CORP	28,480	$326	0.1%	$11.37	0.0%	ORD SHS	G8316B100
—	EATON VANCE ENHANCED EQUITY	14,650	$301	0.1%	$20.56	—	COM	278274105
—	FRANKLIN LTD DURATION INCOME	47,416	$292	0.1%	$6.15	—	COM	35472T101
—	VIRTUS EQUITY & CONV INCM FD	11,369	$283	0.1%	$24.92	—	COM	92841M101
—	ALLSPRING INCOME OPPORTUNIT	39,734	$269	0.1%	$6.78	—	INC OPPTY FD	94987B105
—	HANCOCK JOHN PFD INCOME FD I	18,084	$261	0.1%	$14.41	—	COM	41021P103
—	TAIWAN FD INC	4,848	$259	0.1%	$53.38	—	COM	874036106
—	BLACKROCK MUNIYIELD FD INC	23,306	$244	0.1%	$10.49	—	COM	09253W104
—	HANCOCK JOHN TAX-ADVANTAGED	9,881	$234	0.1%	$23.66	—	COM	41013V100
—	WESTERN ASSET INVESTMENT GRA	18,620	$232	0.1%	$12.48	—	COM	95766T100
—	PCM FD INC	37,425	$230	0.1%	$6.14	—	COM	69323T101
—	NUVEEN NEW YORK AMT QLT MUNI	22,063	$223	0.1%	$10.09	—	COM	670656107
RFAI	RF ACQUISITION CORP II	19,004	$206	0.1%	$10.73	0.0%	SHS	G75389109
—	NUVEEN S&P 500 DYNAMIC OVERW	10,924	$197	0.0%	$18.04	—	COM	6706EW100
—	DUFF & PHELPS UTLITY AND INF	14,856	$189	0.0%	$12.71	—	COM	26433C105
—	NUVEEN MUN CR OPPORTUNITIES	17,923	$183	0.0%	$10.23	—	COM	670663103
—	TOTAL RETURN SECURITIES FUND	27,811	$173	0.0%	$6.22	—	COM	870875101
—	BLACKSTONE SENI FLTN RAT 202	12,572	$170	0.0%	$13.50	—	COM	09256U105
—	WESTERN ASSET HIGH INCOME OP	42,419	$157	0.0%	$3.71	—	COM	95766K109
QUMS	QUANTUMSPHERE ACQUISITION CO	14,500	$145	0.0%	$9.98	0.0%	ORD SHS	G7387B106
—	XAI MADISON EQUITY PREMIUM I	23,137	$139	0.0%	$6.00	—	COM	557437100
—	NUVEEN MULTI-MKT INCOME FD	21,233	$128	0.0%	$6.04	—	COM	67075J107
CHEC	CHENGHE ACQUISITION III CO	12,683	$126	0.0%	$9.96	0.0%	ORD SHS CL A	G2086N105
QETA	QUETTA ACQUISITION CORP	10,598	$120	0.0%	$11.32	0.0%	COM	74841A105
—	BLACKROCK FLOATING RATE INC	10,177	$115	0.0%	$11.33	—	COM	091941104
DMAA	DRUGS MADE IN AMER ACQUTN CO	10,900	$113	0.0%	$10.33	0.0%	ORD SHS	G2847J104
—	MFS MULTIMARKET INCOME TR	19,825	$92	0.0%	$4.65	—	SH BEN INT	552737108
—	PUTNAM PREMIER INCOME TR	22,997	$81	0.0%	$3.54	—	SH BEN INT	746853100
—	NEUBERGER REAL ESTATE	11,581	$35	0.0%	$3.04	—	COM	64190A103

Increased Positions (24)

IBIT ISHARES BITCOIN TRUST ETF 11.0%

Value ($000) $44,605 (+194.0%) Shares 898,383 (+284.9%) Est. Cost $49.52 Unrealized —

ETH GRAYSCALE ETHEREUM MINI TR E 5.4%

Value ($000) $21,891 (+1139.1%) Shares 780,143 (+1630.1%) Est. Cost $27.81 Unrealized —

NWSA NEWS CORP NEW 5.1%

Value ($000) $20,652 (+447.3%) Shares 790,650 (+543.5%) Est. Cost $26.75 Unrealized -1.9%

FOX FOX CORP 8.1%

Value ($000) $32,925 (+70.5%) Shares 507,077 (+50.4%) Est. Cost $54.54 Unrealized +7.0%

— NUVEEN FLOATING RATE INCOME 2.5%

Value ($000) $10,044 (+1045.2%) Shares 1,282,748 (+1096.3%) Est. Cost $7.86 Unrealized —

— EATON VANCE SR FLTNG RTE TR 1.4%

Value ($000) $5,864 (+659.1%) Shares 526,372 (+679.6%) Est. Cost $11.18 Unrealized —

SSK ETF OPPORTUNITIES TRUST 4.8%

Value ($000) $19,598 (-14.0%) Shares 1,028,236 (+44.5%) Est. Cost $28.02 Unrealized —

— EATON VANCE FLTING RATE INC 0.8%

Value ($000) $3,045 (+1378.8%) Shares 269,680 (+1441.6%) Est. Cost $11.32 Unrealized —

— PIMCO CALIF MUN INCOME FD 1.7%

Value ($000) $7,086 (+62.8%) Shares 811,685 (+62.6%) Est. Cost $8.79 Unrealized —

— NUVEEN CR STRATEGIES INCOME 0.7%

Value ($000) $2,846 (+543.4%) Shares 566,916 (+575.5%) Est. Cost $5.06 Unrealized —

VACH VOYAGER ACQUISITION CORP 0.6%

Value ($000) $2,518 (+747.1%) Shares 236,027 (+733.2%) Est. Cost $10.51 Unrealized +0.1%

XRPR ETF OPPORTUNITIES TRUST 1.3%

Value ($000) $5,298 (-16.9%) Shares 353,651 (+31.2%) Est. Cost $21.58 Unrealized —

— BLACKROCK MUNIHLDNGS CALI QL 0.3%

Value ($000) $1,371 (+181.9%) Shares 129,327 (+188.5%) Est. Cost $10.63 Unrealized —

— ALLIANCEBERNSTEIN NATL MUN I 0.5%

Value ($000) $2,045 (+60.1%) Shares 188,972 (+60.6%) Est. Cost $10.79 Unrealized —

— RIVERNORTH FLEXIBLE MUN INCO 0.3%

Value ($000) $1,383 (+71.5%) Shares 99,005 (+77.5%) Est. Cost $14.43 Unrealized —

— VIRTUS CONVERTIBLE & INCOME 0.2%

Value ($000) $803 (+189.9%) Shares 53,013 (+187.0%) Est. Cost $15.10 Unrealized —

— EATON VANCE SR INCOME TR 0.2%

Value ($000) $614 (+490.0%) Shares 116,530 (+513.5%) Est. Cost $5.33 Unrealized —

— INVESCO SR INCOME TR 0.6%

Value ($000) $2,457 (+17.5%) Shares 751,461 (+24.3%) Est. Cost $3.42 Unrealized —

— WESTERN ASSET INTER MUNI FD 0.1%

Value ($000) $420 (+256.5%) Shares 54,685 (+267.1%) Est. Cost $7.63 Unrealized —

EZU ISHARES INC 0.8%

Value ($000) $3,442 (+8.5%) Shares 53,692 (+4.9%) Est. Cost $59.67 Unrealized —

— ABRDN NATL MUN INCOME FD 0.3%

Value ($000) $1,165 (+29.8%) Shares 113,485 (+29.7%) Est. Cost $9.93 Unrealized —

SZZL SIZZLE ACQUISITION CORP. II 0.1%

Value ($000) $493 (+84.3%) Shares 48,560 (+82.8%) Est. Cost $10.06 Unrealized +0.9%

XBFZX BLACKROCK CALIF MUN INCOME T 0.1%

Value ($000) $498 (+28.0%) Shares 46,406 (+30.5%) Est. Cost $10.90 Unrealized —

— BLACKROCK MUNIVEST FD INC 0.0%

Value ($000) $202 (+47.2%) Shares 29,091 (+45.7%) Est. Cost $6.69 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	898,383 (+284.9%)	$44,605 (+194.0%)	11.0%	$49.52	—	SHS BEN INT	46438F101
ETH	GRAYSCALE ETHEREUM MINI TR E	780,143 (+1630.1%)	$21,891 (+1139.1%)	5.4%	$27.81	—	SHS NEW	38964R203
NWSA	NEWS CORP NEW	790,650 (+543.5%)	$20,652 (+447.3%)	5.1%	$26.75	-1.9%	CL A	65249B109
FOX	FOX CORP	507,077 (+50.4%)	$32,925 (+70.5%)	8.1%	$54.54	+7.0%	CL B COM	35137L204
—	NUVEEN FLOATING RATE INCOME	1,282,748 (+1096.3%)	$10,044 (+1045.2%)	2.5%	$7.86	—	COM	67072T108
—	EATON VANCE SR FLTNG RTE TR	526,372 (+679.6%)	$5,864 (+659.1%)	1.4%	$11.18	—	COM	27828Q105
SSK	ETF OPPORTUNITIES TRUST	1,028,236 (+44.5%)	$19,598 (-14.0%)	4.8%	$28.02	—	REX-OSPREY SOL	26923N249
—	EATON VANCE FLTING RATE INC	269,680 (+1441.6%)	$3,045 (+1378.8%)	0.8%	$11.32	—	COM	278279104
—	PIMCO CALIF MUN INCOME FD	811,685 (+62.6%)	$7,086 (+62.8%)	1.7%	$8.79	—	COM	72200N106
—	NUVEEN CR STRATEGIES INCOME	566,916 (+575.5%)	$2,846 (+543.4%)	0.7%	$5.06	—	COM SHS	67073D102
VACH	VOYAGER ACQUISITION CORP	236,027 (+733.2%)	$2,518 (+747.1%)	0.6%	$10.51	+0.1%	CL A	G93A7H104
XRPR	ETF OPPORTUNITIES TRUST	353,651 (+31.2%)	$5,298 (-16.9%)	1.3%	$21.58	—	REX OSPREY XRP	26923N231
—	BLACKROCK MUNIHLDNGS CALI QL	129,327 (+188.5%)	$1,371 (+181.9%)	0.3%	$10.63	—	COM	09254L107
—	ALLIANCEBERNSTEIN NATL MUN I	188,972 (+60.6%)	$2,045 (+60.1%)	0.5%	$10.79	—	COM	01864U106
—	RIVERNORTH FLEXIBLE MUN INCO	99,005 (+77.5%)	$1,383 (+71.5%)	0.3%	$14.43	—	COM	76883H104
—	VIRTUS CONVERTIBLE & INCOME	53,013 (+187.0%)	$803 (+189.9%)	0.2%	$15.10	—	COM NEW	92838X805
—	EATON VANCE SR INCOME TR	116,530 (+513.5%)	$614 (+490.0%)	0.2%	$5.33	—	SH BEN INT	27826S103
—	INVESCO SR INCOME TR	751,461 (+24.3%)	$2,457 (+17.5%)	0.6%	$3.42	—	COM	46131H107
—	WESTERN ASSET INTER MUNI FD	54,685 (+267.1%)	$420 (+256.5%)	0.1%	$7.63	—	COM	958435109
EZU	ISHARES INC	53,692 (+4.9%)	$3,442 (+8.5%)	0.8%	$59.67	—	MSCI EURZONE ETF	464286608
—	ABRDN NATL MUN INCOME FD	113,485 (+29.7%)	$1,165 (+29.8%)	0.3%	$9.93	—	SH BEN INT	24610T108
SZZL	SIZZLE ACQUISITION CORP. II	48,560 (+82.8%)	$493 (+84.3%)	0.1%	$10.06	+0.9%	USD CL A ORD SHS	G8193F109
XBFZX	BLACKROCK CALIF MUN INCOME T	46,406 (+30.5%)	$498 (+28.0%)	0.1%	$10.90	—	SH BEN INT	09248E102
—	BLACKROCK MUNIVEST FD INC	29,091 (+45.7%)	$202 (+47.2%)	0.0%	$6.69	—	COM	09253R105

Exited Positions (24)

USHY ISHARES TR 8.2%

Value ($000) $33,224 Shares 879,417 Est. Cost $37.44 Unrealized —

ETHA ISHARES ETHEREUM TR 4.6%

Value ($000) $18,833 Shares 597,699 Est. Cost $19.07 Unrealized —

FBTC FIDELITY WISE ORIGIN BITCOIN 3.7%

Value ($000) $14,971 Shares 149,992 Est. Cost $98.97 Unrealized —

SRLN SSGA ACTIVE ETF TR 2.1%

Value ($000) $8,535 Shares 205,275 Est. Cost $41.77 Unrealized —

PFF ISHARES TR 1.5%

Value ($000) $5,887 Shares 186,186 Est. Cost $31.62 Unrealized —

SPY SPDR S&P 500 ETF TR 0.9%

Value ($000) $3,487 Shares 5,235 Est. Cost $588.91 Unrealized —

EMB ISHARES TR 0.8%

Value ($000) $3,142 Shares 33,010 Est. Cost $93.17 Unrealized —

VNQ VANGUARD INDEX FDS 0.6%

Value ($000) $2,351 Shares 25,714 Est. Cost $90.85 Unrealized —

JNK SPDR SERIES TRUST 0.5%

Value ($000) $2,045 Shares 20,865 Est. Cost $97.54 Unrealized —

FETH FIDELITY ETHEREUM FD 0.4%

Value ($000) $1,585 Shares 38,143 Est. Cost $41.55 Unrealized —

DVY ISHARES TR 0.3%

Value ($000) $1,409 Shares 9,918 Est. Cost $133.56 Unrealized —

— BNY MELLON MUN BD INFRASTRUC 0.3%

Value ($000) $1,282 Shares 119,784 Est. Cost $10.36 Unrealized —

EFA ISHARES TR 0.3%

Value ($000) $1,016 Shares 10,886 Est. Cost $90.32 Unrealized —

BATRK ATLANTA BRAVES HLDGS INC 0.2%

Value ($000) $987 Shares 23,728 Est. Cost $44.14 Unrealized -10.4%

COLA COLUMBUS ACQUISITION CORP 0.2%

Value ($000) $743 Shares 72,522 Est. Cost $10.07 Unrealized +2.3%

IBB ISHARES TR 0.2%

Value ($000) $706 Shares 4,892 Est. Cost $144.37 Unrealized —

EMLC VANECK ETF TRUST 0.2%

Value ($000) $680 Shares 26,648 Est. Cost $25.51 Unrealized —

XPHDX PIONEER FLOATING RATE FUND I 0.1%

Value ($000) $528 Shares 53,003 Est. Cost $9.86 Unrealized —

— BLACKROCK INVT QUALITY MUN T 0.1%

Value ($000) $506 Shares 44,654 Est. Cost $11.15 Unrealized —

— BLACKROCK MUN TARGET TERM TR 0.1%

Value ($000) $326 Shares 14,512 Est. Cost $21.01 Unrealized —

XLV SELECT SECTOR SPDR TR 0.1%

Value ($000) $264 Shares 1,895 Est. Cost $139.17 Unrealized —

XTEAX TORTOISE SUSTAINABLE & SOCIA 0.1%

Value ($000) $227 Shares 19,268 Est. Cost $11.97 Unrealized —

— EATON VANCE CALIF MUN INCOM 0.0%

Value ($000) $114 Shares 11,324 Est. Cost $9.70 Unrealized —

— URBAN ONE INC 0.0%

Value ($000) $10 Shares 13,942 Est. Cost $1.12 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
USHY	ISHARES TR	879,417	$33,224	8.2%	$37.44	—	—	46435U853
ETHA	ISHARES ETHEREUM TR	597,699	$18,833	4.6%	$19.07	—	—	46438R105
FBTC	FIDELITY WISE ORIGIN BITCOIN	149,992	$14,971	3.7%	$98.97	—	—	315948109
SRLN	SSGA ACTIVE ETF TR	205,275	$8,535	2.1%	$41.77	—	—	78467V608
PFF	ISHARES TR	186,186	$5,887	1.5%	$31.62	—	—	464288687
SPY	SPDR S&P 500 ETF TR	5,235	$3,487	0.9%	$588.91	—	—	78462F103
EMB	ISHARES TR	33,010	$3,142	0.8%	$93.17	—	—	464288281
VNQ	VANGUARD INDEX FDS	25,714	$2,351	0.6%	$90.85	—	—	922908553
JNK	SPDR SERIES TRUST	20,865	$2,045	0.5%	$97.54	—	—	78468R622
FETH	FIDELITY ETHEREUM FD	38,143	$1,585	0.4%	$41.55	—	—	31613E103
DVY	ISHARES TR	9,918	$1,409	0.3%	$133.56	—	—	464287168
—	BNY MELLON MUN BD INFRASTRUC	119,784	$1,282	0.3%	$10.36	—	—	09662W109
EFA	ISHARES TR	10,886	$1,016	0.3%	$90.32	—	—	464287465
BATRK	ATLANTA BRAVES HLDGS INC	23,728	$987	0.2%	$44.14	-10.4%	—	047726302
COLA	COLUMBUS ACQUISITION CORP	72,522	$743	0.2%	$10.07	+2.3%	—	G2295P107
IBB	ISHARES TR	4,892	$706	0.2%	$144.37	—	—	464287556
EMLC	VANECK ETF TRUST	26,648	$680	0.2%	$25.51	—	—	92189H300
XPHDX	PIONEER FLOATING RATE FUND I	53,003	$528	0.1%	$9.86	—	—	72369J102
—	BLACKROCK INVT QUALITY MUN T	44,654	$506	0.1%	$11.15	—	—	09247D105
—	BLACKROCK MUN TARGET TERM TR	14,512	$326	0.1%	$21.01	—	—	09257P105
XLV	SELECT SECTOR SPDR TR	1,895	$264	0.1%	$139.17	—	—	81369Y209
XTEAX	TORTOISE SUSTAINABLE & SOCIA	19,268	$227	0.1%	$11.97	—	—	27901F109
—	EATON VANCE CALIF MUN INCOM	11,324	$114	0.0%	$9.70	—	—	27826F101
—	URBAN ONE INC	13,942	$10	0.0%	$1.12	—	—	91705J204

Decreased Positions (14)

— BNY MELLON STRATEGIC MUNS IN 0.1%

Value ($000) $420 (-90.6%) Shares 66,020 (-90.7%) Est. Cost $5.71 Unrealized —

— BLACKROCK CORPOR HI YLD FD I 0.1%

Value ($000) $452 (-79.5%) Shares 50,761 (-78.1%) Est. Cost $9.50 Unrealized —

— BLACKROCK MUNIHOLDINGS FD IN 0.1%

Value ($000) $556 (-48.5%) Shares 47,359 (-48.5%) Est. Cost $11.54 Unrealized —

AGG ISHARES TR 1.2%

Value ($000) $4,675 (-9.2%) Shares 46,805 (-8.9%) Est. Cost $100.87 Unrealized —

— RIVERNORTH OPPORTUNISTIC MUN 0.5%

Value ($000) $1,973 (-16.6%) Shares 137,906 (-14.8%) Est. Cost $15.19 Unrealized —

— MFS MUN INCOME TR 0.6%

Value ($000) $2,386 (-12.9%) Shares 439,446 (-13.5%) Est. Cost $5.35 Unrealized —

EWU ISHARES TR 1.2%

Value ($000) $4,933 (-6.2%) Shares 112,162 (-10.5%) Est. Cost $41.74 Unrealized —

— BLACKROCK MUN INCOME QUALITY 0.3%

Value ($000) $1,048 (-15.4%) Shares 95,777 (-15.4%) Est. Cost $10.84 Unrealized —

— NEUBERGER MUN FD INC 0.1%

Value ($000) $225 (-40.2%) Shares 22,203 (-39.1%) Est. Cost $9.99 Unrealized —

— BLACKROCK MUNIHOLDINGS QUALI 0.2%

Value ($000) $950 (-11.4%) Shares 94,690 (-11.1%) Est. Cost $9.59 Unrealized —

— FEDERATED HERMES PREM MUNI I 0.2%

Value ($000) $765 (-8.2%) Shares 68,827 (-8.8%) Est. Cost $10.63 Unrealized —

— MFS HIGH INCOME MUN TR 0.1%

Value ($000) $570 (-6.1%) Shares 154,058 (-5.6%) Est. Cost $3.59 Unrealized —

— ALLSPRING GLOBAL DIVIDEND OP 0.0%

Value ($000) $94 (-25.8%) Shares 16,065 (-27.4%) Est. Cost $4.68 Unrealized —

AAM AA MISSION ACQUISITION CORP 0.1%

Value ($000) $291 (-5.9%) Shares 27,260 (-7.2%) Est. Cost $10.34 Unrealized +2.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	BNY MELLON STRATEGIC MUNS IN	66,020 (-90.7%)	$420 (-90.6%)	0.1%	$5.71	—	COM	05588W108
—	BLACKROCK CORPOR HI YLD FD I	50,761 (-78.1%)	$452 (-79.5%)	0.1%	$9.50	—	COM	09255P107
—	BLACKROCK MUNIHOLDINGS FD IN	47,359 (-48.5%)	$556 (-48.5%)	0.1%	$11.54	—	COM	09253N104
AGG	ISHARES TR	46,805 (-8.9%)	$4,675 (-9.2%)	1.2%	$100.87	—	CORE US AGGBD ET	464287226
—	RIVERNORTH OPPORTUNISTIC MUN	137,906 (-14.8%)	$1,973 (-16.6%)	0.5%	$15.19	—	COM	76883F108
—	MFS MUN INCOME TR	439,446 (-13.5%)	$2,386 (-12.9%)	0.6%	$5.35	—	SH BEN INT	552738106
EWU	ISHARES TR	112,162 (-10.5%)	$4,933 (-6.2%)	1.2%	$41.74	—	MSCI UK ETF NEW	46435G334
—	BLACKROCK MUN INCOME QUALITY	95,777 (-15.4%)	$1,048 (-15.4%)	0.3%	$10.84	—	COM	092479104
—	NEUBERGER MUN FD INC	22,203 (-39.1%)	$225 (-40.2%)	0.1%	$9.99	—	COM	64124P101
—	BLACKROCK MUNIHOLDINGS QUALI	94,690 (-11.1%)	$950 (-11.4%)	0.2%	$9.59	—	COM	09254C107
—	FEDERATED HERMES PREM MUNI I	68,827 (-8.8%)	$765 (-8.2%)	0.2%	$10.63	—	COM	31423P108
—	MFS HIGH INCOME MUN TR	154,058 (-5.6%)	$570 (-6.1%)	0.1%	$3.59	—	SH BEN INT	59318D104
—	ALLSPRING GLOBAL DIVIDEND OP	16,065 (-27.4%)	$94 (-25.8%)	0.0%	$4.68	—	COM	94987C103
AAM	AA MISSION ACQUISITION CORP	27,260 (-7.2%)	$291 (-5.9%)	0.1%	$10.34	+2.4%	ORD SHS CL A	G1000R101

Unchanged Positions (4)

COPL COPLEY ACQUISITION CORP 0.5%

Value ($000) $1,941 Shares 189,723 Est. Cost $10.03 Unrealized +1.6%

— MEXICO FD INC 0.2%

Value ($000) $780 Shares 38,710 Est. Cost $16.76 Unrealized —

— EUROPEAN EQUITY FD INC 0.0%

Value ($000) $149 Shares 14,474 Est. Cost $9.15 Unrealized —

QSEA QUARTZSEA ACQUISITION CORP 0.1%

Value ($000) $512 Shares 50,053 Est. Cost $10.02 Unrealized +1.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COPL	COPLEY ACQUISITION CORP	189,723	$1,941	0.5%	$10.03	+1.6%	ORD SHS CL A	G24243100
—	MEXICO FD INC	38,710	$780	0.2%	$16.76	—	COM	592835102
—	EUROPEAN EQUITY FD INC	14,474	$149	0.0%	$9.15	—	COM	298768102
QSEA	QUARTZSEA ACQUISITION CORP	50,053	$512	0.1%	$10.02	+1.7%	ORD SHS	G7314B104