Newtyn Management, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ITGR	INTEGER HLDGS CORP	550,000	$43,137	4.5%	$79.69	0.0%	COM	45826H109
MRP	MILLROSE PPTYS INC	300,000	$8,961	0.9%	$29.87	—	COM CL A	601137102
CORT	CORCEPT THERAPEUTICS INC	200,000	$6,960	0.7%	$78.55	0.0%	COM	218352102
RARE	ULTRAGENYX PHARMACEUTICAL IN	295,915	$6,806	0.7%	$32.88	0.0%	COM	90400D108
NVRI	ENVIRI CORP	4,000	$6,500	0.7%	$12.57	+18.6%	CALL	415864107
ZOOZ	ZOOZ STRATEGY LTD	13,886,331	$6,082	0.6%	$1.01	0.0%	SHARE	M2573A106
SUNC	SUNOCOCORP LLC	67,395	$3,321	0.3%	$49.49	0.0%	COM SHS LLC	86765Q106
GUTS	FRACTYL HEALTH INC	1,134,021	$2,495	0.3%	$1.61	0.0%	COM	35168W103
MREO	MEREO BIOPHARMA GROUP PLC	224,622	$94	0.0%	$0.42	—	SPON ADS	589492107

Increased Positions (10)

NVRI ENVIRI CORP 8.7%

Value ($000) $82,421 (+283.6%) Shares 4,599,387 (+171.7%) Est. Cost $12.57 Unrealized +18.6%

VISN COMMSCOPE HLDG CO INC 4.2%

Value ($000) $40,227 (+333.1%) Shares 2,218,827 (+269.8%) Est. Cost $16.09 Unrealized +7.2%

AD ARRAY DIGITAL INFRASTRUCTURE 9.6%

Value ($000) $91,154 (+35.0%) Shares 1,700,000 (+25.9%) Est. Cost $41.62 Unrealized -1.6%

MAGN MAGNERA CORP 3.8%

Value ($000) $35,730 (+34.9%) Shares 2,360,000 (+4.4%) Est. Cost $17.17 Unrealized -32.5%

AIV APARTMENT INVT & MGMT CO 5.7%

Value ($000) $54,632 (-11.2%) Shares 9,197,325 (+18.5%) Est. Cost $7.77 Unrealized —

CNNE CANNAE HLDGS INC 5.9%

Value ($000) $55,818 (-10.6%) Shares 3,548,509 (+4.0%) Est. Cost $18.44 Unrealized -8.4%

QDEL QUIDELORTHO CORP 9.0%

Value ($000) $86,097 (+8.3%) Shares 3,014,595 (+11.7%) Est. Cost $33.13 Unrealized -18.2%

CCOI COGENT COMMUNICATIONS HLDGS 3.2%

Value ($000) $30,184 (+12.4%) Shares 1,400,000 (+100.0%) Est. Cost $43.56 Unrealized -32.3%

FLWS 1 800 FLOWERS COM INC 1.4%

Value ($000) $13,755 (+18.8%) Shares 3,500,000 (+39.1%) Est. Cost $4.91 Unrealized -20.1%

RCKT ROCKET PHARMACEUTICALS INC 1.0%

Value ($000) $9,302 (+14.0%) Shares 2,650,000 (+5.9%) Est. Cost $4.61 Unrealized -25.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVRI	ENVIRI CORP	4,599,387 (+171.7%)	$82,421 (+283.6%)	8.7%	$12.57	+18.6%	COM	415864107
VISN	COMMSCOPE HLDG CO INC	2,218,827 (+269.8%)	$40,227 (+333.1%)	4.2%	$16.09	+7.2%	COM	20337X109
AD	ARRAY DIGITAL INFRASTRUCTURE	1,700,000 (+25.9%)	$91,154 (+35.0%)	9.6%	$41.62	-1.6%	COM	911684108
MAGN	MAGNERA CORP	2,360,000 (+4.4%)	$35,730 (+34.9%)	3.8%	$17.17	-32.5%	COM SHS	55939A107
AIV	APARTMENT INVT & MGMT CO	9,197,325 (+18.5%)	$54,632 (-11.2%)	5.7%	$7.77	—	CL A	03748R747
CNNE	CANNAE HLDGS INC	3,548,509 (+4.0%)	$55,818 (-10.6%)	5.9%	$18.44	-8.4%	COM	13765N107
QDEL	QUIDELORTHO CORP	3,014,595 (+11.7%)	$86,097 (+8.3%)	9.0%	$33.13	-18.2%	COM	219798105
CCOI	COGENT COMMUNICATIONS HLDGS	1,400,000 (+100.0%)	$30,184 (+12.4%)	3.2%	$43.56	-32.3%	COM NEW	19239V302
FLWS	1 800 FLOWERS COM INC	3,500,000 (+39.1%)	$13,755 (+18.8%)	1.4%	$4.91	-20.1%	CL A	68243Q106
RCKT	ROCKET PHARMACEUTICALS INC	2,650,000 (+5.9%)	$9,302 (+14.0%)	1.0%	$4.61	-25.7%	COM	77313F106

Exited Positions (10)

SITC SITE CTRS CORP 1.8%

Value ($000) $17,449 Shares 1,936,630 Est. Cost $10.32 Unrealized —

GLIBK GCI LIBERTY INC 1.4%

Value ($000) $13,623 Shares 365,526 Est. Cost $35.27 Unrealized -0.5%

— 89BIO INC 1.2%

Value ($000) $11,760 Shares 800,000 Est. Cost $12.36 Unrealized —

FBTC FIDELITY WISE ORIGIN BITCOIN 1.0%

Value ($000) $9,702 Shares 97,200 Est. Cost $67.45 Unrealized —

DAR DARLING INGREDIENTS INC 1.0%

Value ($000) $9,261 Shares 300,000 Est. Cost $33.40 Unrealized +1.3%

— SCPHARMACEUTICALS INC 0.6%

Value ($000) $5,333 Shares 940,568 Est. Cost $5.67 Unrealized —

AEBI AEBI SCHMIDT HLDG AG 0.3%

Value ($000) $2,757 Shares 221,100 Est. Cost $11.40 Unrealized +4.4%

AVIR ATEA PHARMACEUTICALS INC 0.1%

Value ($000) $1,428 Shares 492,284 Est. Cost $3.36 Unrealized -5.5%

ABEO ABEONA THERAPEUTICS INC 0.1%

Value ($000) $1,313 Shares 248,656 Est. Cost $5.17 Unrealized -2.7%

— MURAL ONCOLOGY PUB LTD CO 0.1%

Value ($000) $1,082 Shares 522,919 Est. Cost $5.48 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SITC	SITE CTRS CORP	1,936,630	$17,449	1.8%	$10.32	—	—	82981J851
GLIBK	GCI LIBERTY INC	365,526	$13,623	1.4%	$35.27	-0.5%	—	36164V800
—	89BIO INC	800,000	$11,760	1.2%	$12.36	—	—	282559103
FBTC	FIDELITY WISE ORIGIN BITCOIN	97,200	$9,702	1.0%	$67.45	—	—	315948109
DAR	DARLING INGREDIENTS INC	300,000	$9,261	1.0%	$33.40	+1.3%	—	237266101
—	SCPHARMACEUTICALS INC	940,568	$5,333	0.6%	$5.67	—	—	810648105
AEBI	AEBI SCHMIDT HLDG AG	221,100	$2,757	0.3%	$11.40	+4.4%	—	H00501108
AVIR	ATEA PHARMACEUTICALS INC	492,284	$1,428	0.1%	$3.36	-5.5%	—	04683R106
ABEO	ABEONA THERAPEUTICS INC	248,656	$1,313	0.1%	$5.17	-2.7%	—	00289Y206
—	MURAL ONCOLOGY PUB LTD CO	522,919	$1,082	0.1%	$5.48	—	—	G63365103

Decreased Positions (8)

RHLD RESOLUTE HLDGS MGMT INC 5.3%

Value ($000) $50,043 (+177.4%) Shares 242,423 (-3.0%) Est. Cost $30.62 Unrealized +383.1%

IAC IAC INC 2.2%

Value ($000) $20,528 (-45.2%) Shares 525,000 (-52.3%) Est. Cost $47.68 Unrealized -26.5%

— INDIVIOR PLC 9.6%

Value ($000) $90,939 (-10.2%) Shares 2,534,538 (-39.7%) Est. Cost $16.66 Unrealized —

TBPH THERAVANCE BIOPHARMA INC 8.5%

Value ($000) $80,453 (+11.3%) Shares 4,300,000 (-13.1%) Est. Cost $9.03 Unrealized +83.8%

— CITY OFFICE REIT INC 2.1%

Value ($000) $19,572 (-28.6%) Shares 2,800,000 (-28.9%) Est. Cost $9.03 Unrealized —

BV BRIGHTVIEW HLDGS INC 2.8%

Value ($000) $26,607 (-13.7%) Shares 2,100,000 (-8.7%) Est. Cost $13.25 Unrealized -4.2%

GRAL GRAIL INC 1.3%

Value ($000) $12,839 (+8.6%) Shares 150,000 (-25.0%) Est. Cost $15.34 Unrealized +463.3%

CMP COMPASS MINERALS INTL INC 1.7%

Value ($000) $16,160 (-2.5%) Shares 822,817 (-4.7%) Est. Cost $16.16 Unrealized +14.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RHLD	RESOLUTE HLDGS MGMT INC	242,423 (-3.0%)	$50,043 (+177.4%)	5.3%	$30.62	+383.1%	COM	76134H101
IAC	IAC INC	525,000 (-52.3%)	$20,528 (-45.2%)	2.2%	$47.68	-26.5%	COM NEW	44891N208
—	INDIVIOR PLC	2,534,538 (-39.7%)	$90,939 (-10.2%)	9.6%	$16.66	—	ORD	G4766E116
TBPH	THERAVANCE BIOPHARMA INC	4,300,000 (-13.1%)	$80,453 (+11.3%)	8.5%	$9.03	+83.8%	COM	G8807B106
—	CITY OFFICE REIT INC	2,800,000 (-28.9%)	$19,572 (-28.6%)	2.1%	$9.03	—	COM	178587101
BV	BRIGHTVIEW HLDGS INC	2,100,000 (-8.7%)	$26,607 (-13.7%)	2.8%	$13.25	-4.2%	COM	10948C107
GRAL	GRAIL INC	150,000 (-25.0%)	$12,839 (+8.6%)	1.3%	$15.34	+463.3%	COM	384747101
CMP	COMPASS MINERALS INTL INC	822,817 (-4.7%)	$16,160 (-2.5%)	1.7%	$16.16	+14.5%	COM	20451N101

Unchanged Positions (5)

FSP FRANKLIN STR PPTYS CORP 0.7%

Value ($000) $6,762 Shares 7,150,000 Est. Cost $1.53 Unrealized —

WVE WAVE LIFE SCIENCES LTD 0.5%

Value ($000) $5,100 Shares 300,000 Est. Cost $2.42 Unrealized +319.7%

SPB SPECTRUM BRANDS HLDGS INC NE 1.6%

Value ($000) $14,766 Shares 249,937 Est. Cost $84.61 Unrealized -33.5%

PAR PAR TECHNOLOGY CORP 1.6%

Value ($000) $15,416 Shares 424,929 Est. Cost $39.29 Unrealized -8.2%

NODK NI HLDGS INC 0.9%

Value ($000) $8,911 Shares 670,000 Est. Cost $14.48 Unrealized -6.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FSP	FRANKLIN STR PPTYS CORP	7,150,000	$6,762	0.7%	$1.53	—	COM	35471R106
WVE	WAVE LIFE SCIENCES LTD	300,000	$5,100	0.5%	$2.42	+319.7%	SHS	Y95308105
SPB	SPECTRUM BRANDS HLDGS INC NE	249,937	$14,766	1.6%	$84.61	-33.5%	COM	84790A105
PAR	PAR TECHNOLOGY CORP	424,929	$15,416	1.6%	$39.29	-8.2%	COM	698884103
NODK	NI HLDGS INC	670,000	$8,911	0.9%	$14.48	-6.8%	COM	65342T106