Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SMH	VANECK ETF TRUST	240,000	$92.02M	5.4%	$383.40	—	CALL	92189F676
WIX	WIX COM LTD	585,000	$52.69M	3.1%	$81.46	0.0%	SHS	M98068105
BKLN	INVESCO EXCH TRADED FD TR II	2,450,000	$50M	3.0%	—	—	PUT	46138G508
GDX	VANECK ETF TRUST	400,000	$36.71M	2.2%	$84.59	—	CALL	92189F106
TSM	TAIWAN SEMICONDUCTOR MANUFAC	100,000	$33.8M	2.0%	$331.55	—	PUT	874039100
BABA	ALIBABA GROUP HLDG LTD	250,000	$31.36M	1.9%	$143.74	—	CALL	01609W102
PFSI	PENNYMAC FINL SVCS INC NEW	351,095	$30.69M	1.8%	$119.59	0.0%	COM	70932M107
QQQ	INVESCO QQQ TR	50,000	$28.86M	1.7%	—	—	CALL	46090E103
ECH	ISHARES INC	725,000	$28.83M	1.7%	$40.40	—	CALL	464286640
MDLN	MEDLINE INC	549,000	$24.43M	1.4%	$44.84	0.0%	COM CL A	58507V107
—	ORACLE CORP	455,666	$20.51M	1.2%	$45.01	—	6.5 DEP CUM SR D	68389X204
EEM	ISHARES TR	360,000	$20.44M	1.2%	—	—	CALL	464287234
—	NEXTERA ENERGY INC	384,932	$19.34M	1.1%	$50.23	—	UNIT 02/15/2029	65339F655
UAL	UNITED AIRLS HLDGS INC	200,000	$18.41M	1.1%	—	—	CALL	910047109
WIX	WIX COM LTD	200,000	$18.01M	1.1%	$81.46	0.0%	PUT	M98068105
QQQ	INVESCO QQQ TR	29,000	$16.74M	1.0%	—	—	PUT	46090E103
XLU	SELECT SECTOR SPDR TR	357,000	$16.38M	1.0%	—	—	CALL	81369Y886
LASR	NLIGHT INC	255,000	$14.54M	0.9%	$47.72	0.0%	COM	65487K100
—	MICROCHIP TECHNOLOGY INC.	225,953	$12.87M	0.8%	$56.97	—	DEP SHS REPSTG	595017302
LUNR	INTUITIVE MACHINES INC	661,375	$12.28M	0.7%	$18.56	0.0%	CLASS A COM	46125A100
—	PPL CORP	227,626	$11.67M	0.7%	$51.29	—	UNIT 02/15/2029	69351T866
ACAAU	AVERIN CAP ACQUISITION CORP	1,150,000	$11.49M	0.7%	$9.99	—	UNIT 01/30/2031	G0679A126
—	WHIRLPOOL CORP	272,015	$11.14M	0.7%	$40.95	—	8.5 DEP SR A CNV	963320205
KRAQU	KRAKACQUISITION CORPORATION	1,050,000	$10.51M	0.6%	$10.01	—	UNIT 12/23/2030	G5315G122
FVAV	FORTRESS VALUE ACQU CORP V	1,000,000	$10.02M	0.6%	$10.02	—	ORD SHS CL A	G3645T104
KRE	SPDR SERIES TRUST	150,000	$9.773M	0.6%	—	—	PUT	78464A698
IEAGU	INFINITE EAGLE ACQUISITION C	929,633	$9.445M	0.6%	$10.16	—	UNIT 01/13/2031	G4802J129
ALUB	ALUSSA ENERGY ACQUISIT CORP	825,000	$8.233M	0.5%	$9.98	—	ORD SHS CL A	G0233J100
CLBR/U	COLOMBIER ACQUISITION CORP I	800,000	$8.144M	0.5%	$10.18	—	UNIT 99/99/9999	G2284A129
OIMAU	ONEIM ACQUISITION CORP	800,000	$8.088M	0.5%	$10.11	—	UNIT 01/07/2031	G6S74K122
EVAC	EQV VENTURES AC CORP. II	750,000	$7.567M	0.4%	$10.08	0.0%	ORD SHS CL A	G3106Q102
—	CHEESECAKE FACTORY INC	7,100,000	$7.245M	0.4%	$1.02	—	NOTE 2.000% 3/1	163072AC5
NTST	NETSTREIT CORP	350,000	$6.59M	0.4%	$18.83	—	COM	64119V303
ITHA	ITHAX ACQUISITION CORP III	650,000	$6.435M	0.4%	$9.90	—	USD CL A ORD SHS	G4977S102
EPRT	ESSENTIAL PPTYS RLTY TR INC	200,000	$6.072M	0.4%	$30.36	—	COM	29670E107
SORNU	SOREN ACQUISITION CORP	600,000	$5.958M	0.4%	$9.93	—	UNIT 12/19/2030	G8274J129
—	JOBY AVIATION INC	6,100,000	$5.204M	0.3%	$0.85	—	NOTE 0.750% 2/1	47775AAA9
NWAX/U	NEW AMER ACQUISITION I CORP	500,000	$5.19M	0.3%	$10.38	—	UNIT 99/99/9999	023634207
PICK	ISHARES INC	90,000	$5.093M	0.3%	$56.59	—	MSCI GBL ETF NEW	46434G848
MEVOU	M EVO GBL ACQUISITION CORP I	500,000	$5.02M	0.3%	$10.04	—	UNIT 01/23/2031	G6071J128
LKSP	LAKE SUPERIOR ACQUISITION CO	500,000	$5.015M	0.3%	$9.99	0.0%	USD CL A ORD SHS	G5354C107
DMII	DRUGS MADE IN AMER ACQ II CO	500,000	$4.99M	0.3%	$9.96	0.0%	USD ORD SHS	G2851K104
AEAQ	ACTIVATE ENERGY ACQUISIT COR	500,000	$4.945M	0.3%	$9.89	—	CL A ORD SHS	G0081J103
INTC	INTEL CORP	110,000	$4.854M	0.3%	—	—	CALL	458140100
UNG	UNITED STS NAT GAS FD LP	375,000	$4.399M	0.3%	—	—	CALL	912318409
ON	ON SEMICONDUCTOR CORP	70,000	$4.334M	0.3%	—	—	CALL	682189105
PAYP	PAYPAY CORP	200,000	$4.268M	0.3%	$21.34	—	SPONSORED ADS	70450C101
SATS	ECHOSTAR CORP	36,000	$4.215M	0.2%	$81.43	+42.9%	PUT	278768106
MMED	MINIMED GROUP INC	275,000	$4.103M	0.2%	$14.92	—	COM	60365F109
SAAQU	SPACE ASSET ACQUISITION CORP	400,000	$4.07M	0.2%	$10.18	—	UNIT 01/13/2031	G8375S127
YCY	AA MISSION ACQUISITION CORP	400,000	$4.028M	0.2%	$10.03	0.0%	ORD SHS CL A	G1000S109
RNGT	RANGE CAP ACQUISITION CORP I	400,000	$4M	0.2%	$9.99	0.0%	CL A ORD SHS	G7375J103
TWLV	TWELVE SEAS INVT CO III	400,000	$3.964M	0.2%	$9.91	—	ORD SHS CL A	G9145D101
—	BOEING CO	58,803	$3.815M	0.2%	$64.88	—	DEP CONV PFD A	097023204
HCMA	HCM III ACQUISITION CORP	350,000	$3.535M	0.2%	$10.14	0.0%	ORD SHS CL A	G4365E103
HACQU	HCM IV ACQUISITION CORP	350,000	$3.516M	0.2%	$10.04	—	UNIT 01/20/2031	G4365S128
MBVI	M3-BRIGADE ACQUISITION VI CO	337,000	$3.39M	0.2%	$10.09	0.0%	ORD SHS CL A	G63221108
GPAC	GENERAL PURP ACQUISITION COR	335,000	$3.32M	0.2%	$9.91	—	USD CL A ORD SHS	G3810N106
PICS	PICS NV	310,000	$3.24M	0.2%	$10.45	—	COM CL A	N69958101
—	NEXTERA ENERGY INC	59,092	$3.105M	0.2%	$52.54	—	UNIT 11/01/2027	65339F119
SVAQ	SILICON VY ACQUISITION CORP	300,000	$2.967M	0.2%	$9.89	—	CL A	G81306121
BOBS	BOBS DISC FURNITURE INC	250,000	$2.938M	0.2%	$11.75	—	COM SHS	09681N106
FIGR	FIGURE TECHNOLOGY SOLUTIO	85,987	$2.919M	0.2%	$49.37	0.0%	COM CL A	349381103
SNDA	SONIDA SENIOR LIVING INC	89,909	$2.9M	0.2%	$32.91	0.0%	COM	140475203
SMH	VANECK ETF TRUST	7,500	$2.876M	0.2%	$383.40	—	SEMICONDUCTR ETF	92189F676
TMTSU	SPARTACUS ACQUISITION CORP I	275,000	$2.76M	0.2%	$10.04	—	UNIT 01/30/2031	G8303R126
ARCIU	ARCHIMEDES TECH SPAC PTNRS I	275,000	$2.758M	0.2%	$10.03	—	UNIT 01/23/2031	G0453R121
EZA	ISHARES INC	40,000	$2.712M	0.2%	$67.80	—	MSCI STH AFR ETF	464286780
IGAC	INVEST GREEN ACQUISITION COR	270,000	$2.684M	0.2%	$9.92	0.0%	CL A ORD SHS	G4924G102
JENA	JENA ACQUISITION CORP II	250,000	$2.555M	0.2%	$10.27	0.0%	USD CL A ORD SHS	G5093B105
TLNC	TALON CAP CORP	248,000	$2.542M	0.2%	$10.11	0.0%	ORD SHS CL A	G86652107
FIGX	FIGX CAP ACQUISITION CORP.	250,000	$2.533M	0.1%	$10.10	0.0%	USD CL A ORD SHS	G3473K100
SO	SOUTHERN CO	25,962	$2.506M	0.1%	$89.54	0.0%	COM	842587107
IBIT	ISHARES BITCOIN TRUST ETF	65,000	$2.497M	0.1%	$38.42	—	SHS BEN INT	46438F101
EVOX	EVOLUTION GLOBAL ACQUISITION	250,000	$2.495M	0.1%	$9.98	0.0%	USD CL A ORD SHS	G3226F101
PVLA	PALVELLA THERAPEUTICS INC NE	20,000	$2.493M	0.1%	$91.38	0.0%	COM	697947109
GIW	GIGCAPITAL8 CORP	250,000	$2.493M	0.1%	$9.96	0.0%	ORD CL A	G3864J100
ALOVU	ALDABRA 4 LQDTY OPP VEH INC	250,000	$2.493M	0.1%	$9.97	—	UNIT 12/23/2030	G01900201
HCAC	HALL CHADWICK ACQUISITION CO	250,000	$2.482M	0.1%	$9.93	—	ORD SHS CL A	G42386105
NOK	NOKIA CORP	290,000	$2.332M	0.1%	—	—	CALL	654902204
SVIVU	SPRING VY ACQUISITION CORP I	225,000	$2.286M	0.1%	$10.16	—	UNIT 01/22/2031	G8377G121
NIQ	NIQ GLOBAL INTELLIGENCE PLC	200,000	$2.274M	0.1%	$14.54	0.0%	ORDINARY SHARES	G63755105
PAII	PYROPHYTE ACQUISITION CORP.	223,000	$2.261M	0.1%	$10.11	0.0%	CL A SHS	G7309T102
HON	HONEYWELL INTL INC	10,000	$2.26M	0.1%	$225.93	0.0%	COM	438516106
ITA	ISHARES TR	9,867	$2.158M	0.1%	$218.75	—	US AER DEF ETF	464288760
ETHA	ISHARES ETHEREUM TR	135,000	$2.137M	0.1%	$15.83	—	SHS	46438R105
EWJ	ISHARES INC	25,000	$2.111M	0.1%	$84.44	—	MSCI JAPAN ETF	46434G822
CGCT	CARTESIAN GROWTH CORP III	200,000	$2.05M	0.1%	$10.29	0.0%	COM CL A	G19307100
LEU	CENTRUS ENERGY CORP	11,700	$2.031M	0.1%	$267.47	0.0%	CL A	15643U104
OTGA	OTG ACQUISITION CORP. I	200,000	$2.012M	0.1%	$10.05	0.0%	ORD CL A	G6791A100
BLZR	TRAILBLAZER ACQUISITION CORP	200,000	$2.01M	0.1%	$10.06	0.0%	ORD SHS CL A	G9009S103
FXI	ISHARES TR	50,000	$1.795M	0.1%	$35.90	—	CHINA LG-CAP ETF	464287184
—	KKR & CO INC	34,221	$1.376M	0.1%	$40.22	—	6.25 CON SER D	48251W500
XHB	SPDR SERIES TRUST	13,940	$1.376M	0.1%	$98.72	—	STATE STREET SPD	78464A888
EWY	ISHARES INC	10,000	$1.23M	0.1%	$97.22	—	PUT	464286772
F	FORD MTR CO	100,000	$1.154M	0.1%	—	—	PUT	345370860
PURR	HYPERLIQUID STRATEGIES INC	225,449	$1.148M	0.1%	$4.10	0.0%	COM	44916Y106
STUB	STUBHUB HLDGS INC	175,000	$1.092M	0.1%	$12.05	0.0%	CL A	86384P109
BEAG	BOLD EAGLE ACQUISITION CORP	100,000	$1.056M	0.1%	$10.58	0.0%	CL A	G2003N105
TACO	BERTO ACQUISITION CORP	100,000	$1.025M	0.1%	$10.18	0.0%	ORD SHS	G1051H101
CCII	COHEN CIRCLE ACQUISIT CORP I	100,000	$1.022M	0.1%	$10.27	0.0%	SHS CL A	G2254C121
BPAC	BLUEPORT ACQUISITION LTD	100,000	$1.001M	0.1%	$10.01	—	USD CL A ORD SHS	G1196A102
MZYX/U	MOZAYYX ACQUISITION CORP	100,000	$995K	0.1%	$9.95	—	UNIT 99/99/9999	G63113123
TDWD	TAILWIND 2.0 ACQUISITION COR	100,000	$994K	0.1%	$9.91	0.0%	ORD SHS CL A	G8662J111
DNMX	DYNAMIX CORP III	100,000	$992K	0.1%	$9.93	0.0%	USD CL A ORD SHS	G2949T109
ILLUU	ILLUMINATION ACQUISITIO CORP	100,000	$992K	0.1%	$9.92	—	UNIT 12/23/2031	G470AU126
BIXI	BITCOIN INFRASTRUCTURE ACQUI	100,000	$990K	0.1%	$9.89	0.0%	USD CL A ORD SHS	G1143H101
NCLH	NORWEGIAN CRUISE LINE HLDGS	42,500	$795K	0.0%	$22.86	0.0%	SHS	G66721104
CEPS	CANTOR EQUITY PARTNERS VI IN	75,000	$759K	0.0%	$10.12	—	CL A ORD SHS	G1828R101
WLIIU	WILLOW LANE ACQUISITION CRP	75,000	$758K	0.0%	$10.10	—	UNIT 01/27/2031	G9675K129
ALTI	ALTI GLOBAL INC	198,947	$720K	0.0%	$4.46	0.0%	CL A	02157E106
EL	LAUDER ESTEE COS INC	10,000	$718K	0.0%	—	—	CALL	518439104
—	VSE CORP	12,527	$630K	0.0%	$50.30	—	UNIT 02/01/2029	918284209
YELP	YELP INC	22,500	$557K	0.0%	—	—	PUT	985817105
WBD	WARNER BROS DISCOVERY INC	20,000	$549K	0.0%	$28.24	0.0%	COM SER A	934423104
IPFXU	INFLECTION PT ACQUISIT CORP	50,000	$506K	0.0%	$10.12	—	UNIT 03/03/2031	G4790S123
ASAN	ASANA INC	65,000	$416K	0.0%	—	—	PUT	04342Y104
ASTS	AST SPACEMOBILE INC	5,000	$414K	0.0%	—	—	PUT	00217D100
MMTX	MILUNA ACQUISITION CORP	40,000	$400K	0.0%	$9.97	0.0%	USD CL A ORD SHS	G6180J100
OXY	OCCIDENTAL PETE CORP	5,500	$358K	0.0%	$45.43	0.0%	COM	674599105
FF	FUTUREFUEL CORP	90,200	$347K	0.0%	—	—	CALL	36116M106
EA	ELECTRONIC ARTS INC	1,500	$306K	0.0%	—	—	PUT	285512109
PATH	UIPATH INC	27,500	$305K	0.0%	—	—	PUT	90364P105
CMCSA	COMCAST CORP NEW	10,000	$287K	0.0%	$29.82	0.0%	CL A	20030N101
XOP	SPDR SERIES TRUST	1,500	$273K	0.0%	$181.83	—	STATE STREET SPD	78468R556
FIVN	FIVE9 INC	17,500	$265K	0.0%	—	—	PUT	338307101
BRZE	BRAZE INC	11,000	$260K	0.0%	—	—	PUT	10576N102
GTM	ZOOMINFO TECHNOLOGIES INC	40,000	$239K	0.0%	—	—	PUT	98980F104
WDS	WOODSIDE ENERGY GROUP LTD	10,000	$239K	0.0%	$23.88	—	SPONSORED ADR	980228308
MNDY	MONDAY COM LTD	3,000	$207K	0.0%	—	—	PUT	M7S64H106
IGV	ISHARES TR	2,500	$200K	0.0%	$80.05	—	EXPANDED TECH	464287515
WYFI	WHITEFIBER INC	15,100	$180K	0.0%	—	—	PUT	G96115103
FOUR	SHIFT4 PMTS INC	3,500	$153K	0.0%	—	—	PUT	82452J109
PROP	PRAIRIE OPER CO	50,000	$102K	0.0%	$1.82	0.0%	COM	739650109
CCO	CLEAR CHANNEL OUTDOOR HLDGS	24,574	$58,240	0.0%	$2.20	0.0%	COM	18453H106
CLSK	CLEANSPARK INC	6,752	$57,460	0.0%	$11.33	0.0%	COM NEW	18452B209
SJNK	SPDR SERIES TRUST	807	$20,159	0.0%	$24.98	—	STATE STREET SPD	78468R408
BKSY/WS	BLACKSKY TECHNOLOGY INC	175,000	$7,595	0.0%	$0.04	—	*W EXP 09/09/202	09263B116
USIG	ISHARES TR	1	$51	0.0%	$51.00	—	USD INV GRDE ETF	464288620

Increased Positions (23)

— JAZZ INVESTMENTS I LTD 2.6%

Value $44.65M (+855.0%) Shares 31,600,000 (+802.9%) Est. Cost $1.40 Unrealized —

— ECHOSTAR CORP 3.1%

Value $52.52M (+86.9%) Shares 14,693,000 (+75.4%) Est. Cost $2.94 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 1.6%

Value $27.83M (+254.9%) Shares 42,800 (+272.2%) Est. Cost — Unrealized —

IWM ISHARES TR 1.6%

Value $27.28M (+170.3%) Shares 110,000 (+168.3%) Est. Cost — Unrealized —

— BRIGHTSPRING HEALTH SVCS INC 0.9%

Value $14.47M (+1022.8%) Shares 101,893 (+897.7%) Est. Cost $134.53 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.7%

Value $12.11M (+491.6%) Shares 35,824 (+432.0%) Est. Cost $331.55 Unrealized —

KWEB KRANESHARES TRUST 2.3%

Value $39.4M (+28.6%) Shares 1,386,000 (+54.0%) Est. Cost $40.59 Unrealized —

— NEXTERA ENERGY INC 0.4%

Value $6.549M (+550.3%) Shares 116,983 (+501.4%) Est. Cost $54.77 Unrealized —

— ON SEMICONDUCTOR CORP 1.9%

Value $32.26M (+17.3%) Shares 25,000,000 (+8.7%) Est. Cost $1.18 Unrealized —

— ALBEMARLE CORP 0.7%

Value $11.67M (+37.2%) Shares 162,378 (+13.4%) Est. Cost $42.70 Unrealized —

HYG ISHARES TR 1.6%

Value $27.3M (+12.9%) Shares 343,200 (+14.4%) Est. Cost $80.63 Unrealized —

— PG&E CORP 0.2%

Value $3.237M (+961.8%) Shares 75,290 (+912.6%) Est. Cost $42.56 Unrealized —

— QXO INC 0.4%

Value $5.968M (+93.3%) Shares 108,532 (+93.8%) Est. Cost $56.15 Unrealized —

MKSI MKS INC. 0.2%

Value $4.05M (+62.0%) Shares 17,623 (+12.7%) Est. Cost $156.86 Unrealized +43.5%

BEBE/U TGE VALUE CREATIVE SOLUTIONS 0.2%

Value $3.858M (+62.7%) Shares 388,500 (+62.9%) Est. Cost $9.94 Unrealized —

CLMT CALUMET INC 0.1%

Value $2.154M (+171.0%) Shares 60,000 (+50.0%) Est. Cost $18.95 Unrealized +24.7%

— LEMAITRE VASCULAR INC 0.4%

Value $7.326M (+22.3%) Shares 6,500,000 (+8.3%) Est. Cost $1.01 Unrealized —

EWZ ISHARES INC 0.1%

Value $2.035M (+83.0%) Shares 53,006 (+51.4%) Est. Cost $32.09 Unrealized —

TLT ISHARES TR 0.2%

Value $2.601M (+49.2%) Shares 30,000 (+50.0%) Est. Cost — Unrealized —

— BRUKER CORP 0.4%

Value $6.73M (+3.1%) Shares 23,844 (+33.7%) Est. Cost $274.43 Unrealized —

ATHM AUTOHOME INC 0.1%

Value $964K (-12.5%) Shares 55,500 (+12.1%) Est. Cost $26.49 Unrealized —

WLAC WILLOW LANE ACQUISITION CORP 0.1%

Value $1.331M (+5.3%) Shares 125,000 (+25.0%) Est. Cost $11.97 Unrealized -2.2%

CLSK CLEANSPARK INC 0.0%

Value $370K (+21.9%) Shares 43,500 (+45.0%) Est. Cost $11.33 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	JAZZ INVESTMENTS I LTD	31,600,000 (+802.9%)	$44.65M (+855.0%)	2.6%	$1.40	—	NOTE 3.125% 9/1	472145AH4
—	ECHOSTAR CORP	14,693,000 (+75.4%)	$52.52M (+86.9%)	3.1%	$2.94	—	NOTE 3.875%11/3	278768AB2
SPY	STATE STR SPDR S&P 500 ETF T	42,800 (+272.2%)	$27.83M (+254.9%)	1.6%	—	—	PUT	78462F103
IWM	ISHARES TR	110,000 (+168.3%)	$27.28M (+170.3%)	1.6%	—	—	PUT	464287655
—	BRIGHTSPRING HEALTH SVCS INC	101,893 (+897.7%)	$14.47M (+1022.8%)	0.9%	$134.53	—	UNIT 02/01/2027	10950A205
TSM	TAIWAN SEMICONDUCTOR MANUFAC	35,824 (+432.0%)	$12.11M (+491.6%)	0.7%	$331.55	—	SPONSORED ADS	874039100
KWEB	KRANESHARES TRUST	1,386,000 (+54.0%)	$39.4M (+28.6%)	2.3%	$40.59	—	CALL	500767306
—	NEXTERA ENERGY INC	116,983 (+501.4%)	$6.549M (+550.3%)	0.4%	$54.77	—	UNIT 06/01/2027	65339F663
—	ON SEMICONDUCTOR CORP	25,000,000 (+8.7%)	$32.26M (+17.3%)	1.9%	$1.18	—	NOTE5/0	682189AS4
—	ALBEMARLE CORP	162,378 (+13.4%)	$11.67M (+37.2%)	0.7%	$42.70	—	7.25% DEP SHS A	012653200
HYG	ISHARES TR	343,200 (+14.4%)	$27.3M (+12.9%)	1.6%	$80.63	—	PUT	464288513
—	PG&E CORP	75,290 (+912.6%)	$3.237M (+961.8%)	0.2%	$42.56	—	PFD CONV SER A	69331C306
—	QXO INC	108,532 (+93.8%)	$5.968M (+93.3%)	0.4%	$56.15	—	5.50 DEP PFD	82846H504
MKSI	MKS INC.	17,623 (+12.7%)	$4.05M (+62.0%)	0.2%	$156.86	+43.5%	COM	55306N104
BEBE/U	TGE VALUE CREATIVE SOLUTIONS	388,500 (+62.9%)	$3.858M (+62.7%)	0.2%	$9.94	—	UNIT 99/99/9999	G8773E126
CLMT	CALUMET INC	60,000 (+50.0%)	$2.154M (+171.0%)	0.1%	$18.95	+24.7%	COM	131428104
—	LEMAITRE VASCULAR INC	6,500,000 (+8.3%)	$7.326M (+22.3%)	0.4%	$1.01	—	NOTE 2.500% 2/0	525558AB8
EWZ	ISHARES INC	53,006 (+51.4%)	$2.035M (+83.0%)	0.1%	$32.09	—	MSCI BRAZIL ETF	464286400
TLT	ISHARES TR	30,000 (+50.0%)	$2.601M (+49.2%)	0.2%	—	—	CALL	464287432
—	BRUKER CORP	23,844 (+33.7%)	$6.73M (+3.1%)	0.4%	$274.43	—	6.375 PREF SER A	116794207
ATHM	AUTOHOME INC	55,500 (+12.1%)	$964K (-12.5%)	0.1%	$26.49	—	SP ADS RP CL A	05278C107
WLAC	WILLOW LANE ACQUISITION CORP	125,000 (+25.0%)	$1.331M (+5.3%)	0.1%	$11.97	-2.2%	ORD SHS CL A	G9675P102
CLSK	CLEANSPARK INC	43,500 (+45.0%)	$370K (+21.9%)	0.0%	$11.33	0.0%	PUT	18452B209

Exited Positions (78)

IVV ISHARES TR 89.9%

Value $1.522B Shares 2,222,669 Est. Cost $684.94 Unrealized —

GLD SPDR GOLD TR 13.8%

Value $234M Shares 590,000 Est. Cost — Unrealized —

VST VISTRA CORP 6.1%

Value $103M Shares 637,266 Est. Cost $181.92 Unrealized -10.3%

PCG PG&E CORP 1.9%

Value $32.14M Shares 2,000,000 Est. Cost $14.52 Unrealized +12.9%

AMZN AMAZON COM INC 1.4%

Value $23.46M Shares 101,637 Est. Cost $226.35 Unrealized +0.2%

CAT CATERPILLAR INC 1.4%

Value $23.2M Shares 40,500 Est. Cost — Unrealized —

INDA ISHARES TR 1.3%

Value $21.62M Shares 400,000 Est. Cost $53.41 Unrealized —

LLY ELI LILLY & CO 1.2%

Value $21.1M Shares 19,635 Est. Cost $748.00 Unrealized +40.0%

BABA ALIBABA GROUP HLDG LTD 1.2%

Value $20.36M Shares 138,911 Est. Cost $143.74 Unrealized —

CPNG COUPANG INC 0.8%

Value $14.33M Shares 607,533 Est. Cost $28.45 Unrealized -30.2%

BA BOEING CO 0.8%

Value $13.01M Shares 59,928 Est. Cost $205.66 Unrealized +16.0%

LQD ISHARES TR 0.6%

Value $10.91M Shares 99,000 Est. Cost $110.19 Unrealized —

AXTI AXT INC 0.6%

Value $10.68M Shares 653,063 Est. Cost $9.66 Unrealized +135.1%

GGAL GRUPO FINANCIERO GALICIA S.A 0.5%

Value $8.916M Shares 165,300 Est. Cost — Unrealized —

— UPSTART HLDGS INC 0.5%

Value $8.8M Shares 10,000,000 Est. Cost $0.88 Unrealized —

— AKAMAI TECHNOLOGIES INC 0.5%

Value $8.326M Shares 8,270,000 Est. Cost $0.98 Unrealized —

INDA ISHARES TR 0.5%

Value $8.135M Shares 150,500 Est. Cost $53.41 Unrealized —

USHY ISHARES TR 0.5%

Value $7.956M Shares 212,761 Est. Cost $37.40 Unrealized —

GEV GE VERNOVA INC 0.4%

Value $6.536M Shares 10,000 Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.4%

Value $6.394M Shares 34,284 Est. Cost $145.88 Unrealized +27.9%

XLF SELECT SECTOR SPDR TR 0.3%

Value $5.751M Shares 105,000 Est. Cost $54.77 Unrealized —

AFRM AFFIRM HLDGS INC 0.3%

Value $4.994M Shares 67,100 Est. Cost — Unrealized —

TAC TRANSALTA CORP 0.3%

Value $4.979M Shares 393,880 Est. Cost $14.93 Unrealized -13.4%

— T1 ENERGY INC 0.3%

Value $4.753M Shares 3,750,000 Est. Cost $1.27 Unrealized —

— SOUTHERN CO 0.2%

Value $3.937M Shares 78,186 Est. Cost $50.36 Unrealized —

— WISDOMTREE INC 0.2%

Value $3.859M Shares 3,196,000 Est. Cost $1.31 Unrealized —

— NUTANIX INC 0.2%

Value $3.783M Shares 3,920,000 Est. Cost $0.97 Unrealized —

MSFT MICROSOFT CORP 0.2%

Value $3.525M Shares 7,289 Est. Cost $508.71 Unrealized -14.6%

MCHP MICROCHIP TECHNOLOGY INC. 0.2%

Value $3.361M Shares 52,753 Est. Cost $61.35 Unrealized +23.5%

— ITRON INC 0.2%

Value $3.228M Shares 3,256,000 Est. Cost $1.08 Unrealized —

QCOM QUALCOMM INC 0.2%

Value $3.008M Shares 17,588 Est. Cost $170.79 Unrealized -9.9%

CHKP CHECK POINT SOFTWARE TECH LT 0.2%

Value $2.875M Shares 15,495 Est. Cost $193.34 Unrealized -8.7%

MU MICRON TECHNOLOGY INC 0.1%

Value $2.415M Shares 8,461 Est. Cost $229.35 Unrealized +68.8%

TLN TALEN ENERGY CORP 0.1%

Value $2.038M Shares 5,436 Est. Cost $388.68 Unrealized -5.3%

META META PLATFORMS INC 0.1%

Value $1.962M Shares 2,973 Est. Cost $743.23 Unrealized -11.8%

MDU MDU RES GROUP INC 0.1%

Value $1.952M Shares 100,000 Est. Cost $19.57 Unrealized +4.1%

CEG CONSTELLATION ENERGY CORP 0.1%

Value $1.917M Shares 5,426 Est. Cost $363.20 Unrealized -17.1%

AVGO BROADCOM INC 0.1%

Value $1.782M Shares 5,148 Est. Cost $357.00 Unrealized -6.4%

VRT VERTIV HOLDINGS CO 0.1%

Value $1.742M Shares 10,750 Est. Cost $173.58 Unrealized +15.1%

SATS ECHOSTAR CORP 0.1%

Value $1.507M Shares 13,868 Est. Cost $81.43 Unrealized +42.9%

BETA BETA TECHNOLOGIES INC 0.1%

Value $1.411M Shares 50,000 Est. Cost $29.84 Unrealized -24.3%

CLS CELESTICA INC 0.1%

Value $1.369M Shares 4,632 Est. Cost $301.37 Unrealized -0.1%

EIS ISHARES INC 0.1%

Value $1.32M Shares 12,000 Est. Cost $94.88 Unrealized —

CMCSA COMCAST CORP NEW 0.1%

Value $1.196M Shares 40,000 Est. Cost $29.82 Unrealized 0.0%

KKR KKR & CO INC 0.1%

Value $1.191M Shares 9,341 Est. Cost $124.29 Unrealized -7.7%

GDS GDS HLDGS LTD 0.1%

Value $1.101M Shares 31,535 Est. Cost $35.83 Unrealized —

PINS PINTEREST INC 0.1%

Value $1.07M Shares 41,324 Est. Cost $33.88 Unrealized -34.4%

VNET VNET GROUP INC 0.1%

Value $1.029M Shares 121,670 Est. Cost $8.95 Unrealized —

CCJ CAMECO CORP 0.1%

Value $1.027M Shares 11,226 Est. Cost $89.94 Unrealized +29.3%

XZO EXZEO GROUP INC 0.1%

Value $970K Shares 40,000 Est. Cost $19.02 Unrealized +1.5%

IWD ISHARES TR 0.1%

Value $947K Shares 4,500 Est. Cost $210.34 Unrealized —

CIEN CIENA CORP 0.1%

Value $946K Shares 4,044 Est. Cost $194.00 Unrealized +39.6%

LITE LUMENTUM HLDGS INC 0.1%

Value $891K Shares 2,416 Est. Cost $256.82 Unrealized +81.9%

MRVL MARVELL TECHNOLOGY INC 0.1%

Value $853K Shares 10,036 Est. Cost $87.46 Unrealized -7.3%

OPAL OPAL FUELS INC 0.0%

Value $843K Shares 358,018 Est. Cost $2.41 Unrealized -3.0%

CNC CENTENE CORP DEL 0.0%

Value $823K Shares 20,000 Est. Cost — Unrealized —

DAAQ DIGITAL ASSET ACQUISITION CO 0.0%

Value $821K Shares 80,793 Est. Cost $10.31 Unrealized -0.9%

ANET ARISTA NETWORKS INC 0.0%

Value $818K Shares 6,245 Est. Cost $137.66 Unrealized -1.9%

COHR COHERENT CORP 0.0%

Value $795K Shares 4,309 Est. Cost $149.58 Unrealized +42.6%

XHB SPDR SERIES TRUST 0.0%

Value $700K Shares 6,800 Est. Cost $98.72 Unrealized —

CRDO CREDO TECHNOLOGY GROUP HOLDI 0.0%

Value $648K Shares 4,501 Est. Cost $153.78 Unrealized -14.6%

NE NOBLE CORP PLC 0.0%

Value $584K Shares 20,669 Est. Cost $29.24 Unrealized +27.1%

LRCX LAM RESEARCH CORP 0.0%

Value $535K Shares 3,123 Est. Cost $155.36 Unrealized +45.4%

KLAC KLA CORP 0.0%

Value $495K Shares 407 Est. Cost $1171.91 Unrealized +24.8%

RDDT REDDIT INC 0.0%

Value $485K Shares 2,112 Est. Cost $210.30 Unrealized -9.8%

KHC KRAFT HEINZ CO 0.0%

Value $485K Shares 20,000 Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 0.0%

Value $475K Shares 1,850 Est. Cost $239.49 Unrealized +36.4%

MOH MOLINA HEALTHCARE INC 0.0%

Value $347K Shares 2,000 Est. Cost $164.37 Unrealized +2.6%

KRSP/U RICE ACQUISITION CORP 3 0.0%

Value $263K Shares 25,000 Est. Cost $10.50 Unrealized —

NBIS NEBIUS GROUP N.V. 0.0%

Value $251K Shares 3,000 Est. Cost — Unrealized —

AIRS AIRSCULPT TECHNOLOGIES INC 0.0%

Value $249K Shares 125,800 Est. Cost — Unrealized —

GLXY GALAXY DIGITAL INC. 0.0%

Value $224K Shares 10,000 Est. Cost — Unrealized —

WRD WERIDE INC 0.0%

Value $162K Shares 18,678 Est. Cost $9.08 Unrealized —

INFQ CHURCHILL CAP CORP X 0.0%

Value $156K Shares 10,000 Est. Cost $12.86 Unrealized +5.4%

— WOLFSPEED INC 0.0%

Value $130K Shares 88,000 Est. Cost $1.48 Unrealized —

PMTR PERIMETER ACQUISITION CORP I 0.0%

Value $103K Shares 10,000 Est. Cost $10.32 Unrealized +0.5%

XGN EXAGEN INC 0.0%

Value $60,800 Shares 10,000 Est. Cost $9.10 Unrealized -52.5%

STIM NEURONETICS INC 0.0%

Value $55,200 Shares 40,000 Est. Cost $2.09 Unrealized -17.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	2,222,669	$1.522B	89.9%	$684.94	—	—	464287200
GLD	SPDR GOLD TR	590,000	$234M	13.8%	—	—	PUT	78463V107
VST	VISTRA CORP	637,266	$103M	6.1%	$181.92	-10.3%	—	92840M102
PCG	PG&E CORP	2,000,000	$32.14M	1.9%	$14.52	+12.9%	PUT	69331C108
AMZN	AMAZON COM INC	101,637	$23.46M	1.4%	$226.35	+0.2%	—	023135106
CAT	CATERPILLAR INC	40,500	$23.2M	1.4%	—	—	PUT	149123101
INDA	ISHARES TR	400,000	$21.62M	1.3%	$53.41	—	CALL	46429B598
LLY	ELI LILLY & CO	19,635	$21.1M	1.2%	$748.00	+40.0%	—	532457108
BABA	ALIBABA GROUP HLDG LTD	138,911	$20.36M	1.2%	$143.74	—	—	01609W102
CPNG	COUPANG INC	607,533	$14.33M	0.8%	$28.45	-30.2%	—	22266T109
BA	BOEING CO	59,928	$13.01M	0.8%	$205.66	+16.0%	—	097023105
LQD	ISHARES TR	99,000	$10.91M	0.6%	$110.19	—	—	464287242
AXTI	AXT INC	653,063	$10.68M	0.6%	$9.66	+135.1%	—	00246W103
GGAL	GRUPO FINANCIERO GALICIA S.A	165,300	$8.916M	0.5%	—	—	CALL	399909100
—	UPSTART HLDGS INC	10,000,000	$8.8M	0.5%	$0.88	—	—	91680MAF4
—	AKAMAI TECHNOLOGIES INC	8,270,000	$8.326M	0.5%	$0.98	—	—	00971TAL5
INDA	ISHARES TR	150,500	$8.135M	0.5%	$53.41	—	—	46429B598
USHY	ISHARES TR	212,761	$7.956M	0.5%	$37.40	—	—	46435U853
GEV	GE VERNOVA INC	10,000	$6.536M	0.4%	—	—	PUT	36828A101
NVDA	NVIDIA CORPORATION	34,284	$6.394M	0.4%	$145.88	+27.9%	—	67066G104
XLF	SELECT SECTOR SPDR TR	105,000	$5.751M	0.3%	$54.77	—	—	81369Y605
AFRM	AFFIRM HLDGS INC	67,100	$4.994M	0.3%	—	—	CALL	00827B106
TAC	TRANSALTA CORP	393,880	$4.979M	0.3%	$14.93	-13.4%	—	89346D107
—	T1 ENERGY INC	3,750,000	$4.753M	0.3%	$1.27	—	—	35834FAB0
—	SOUTHERN CO	78,186	$3.937M	0.2%	$50.36	—	—	842587842
—	WISDOMTREE INC	3,196,000	$3.859M	0.2%	$1.31	—	—	97717PAH7
—	NUTANIX INC	3,920,000	$3.783M	0.2%	$0.97	—	—	67059NAK4
MSFT	MICROSOFT CORP	7,289	$3.525M	0.2%	$508.71	-14.6%	—	594918104
MCHP	MICROCHIP TECHNOLOGY INC.	52,753	$3.361M	0.2%	$61.35	+23.5%	—	595017104
—	ITRON INC	3,256,000	$3.228M	0.2%	$1.08	—	—	465741AN6
QCOM	QUALCOMM INC	17,588	$3.008M	0.2%	$170.79	-9.9%	—	747525103
CHKP	CHECK POINT SOFTWARE TECH LT	15,495	$2.875M	0.2%	$193.34	-8.7%	—	M22465104
MU	MICRON TECHNOLOGY INC	8,461	$2.415M	0.1%	$229.35	+68.8%	—	595112103
TLN	TALEN ENERGY CORP	5,436	$2.038M	0.1%	$388.68	-5.3%	—	87422Q109
META	META PLATFORMS INC	2,973	$1.962M	0.1%	$743.23	-11.8%	—	30303M102
MDU	MDU RES GROUP INC	100,000	$1.952M	0.1%	$19.57	+4.1%	—	552690109
CEG	CONSTELLATION ENERGY CORP	5,426	$1.917M	0.1%	$363.20	-17.1%	—	21037T109
AVGO	BROADCOM INC	5,148	$1.782M	0.1%	$357.00	-6.4%	—	11135F101
VRT	VERTIV HOLDINGS CO	10,750	$1.742M	0.1%	$173.58	+15.1%	—	92537N108
SATS	ECHOSTAR CORP	13,868	$1.507M	0.1%	$81.43	+42.9%	—	278768106
BETA	BETA TECHNOLOGIES INC	50,000	$1.411M	0.1%	$29.84	-24.3%	—	086921103
CLS	CELESTICA INC	4,632	$1.369M	0.1%	$301.37	-0.1%	—	15101Q207
EIS	ISHARES INC	12,000	$1.32M	0.1%	$94.88	—	—	464286632
CMCSA	COMCAST CORP NEW	40,000	$1.196M	0.1%	$29.82	0.0%	CALL	20030N101
KKR	KKR & CO INC	9,341	$1.191M	0.1%	$124.29	-7.7%	—	48251W104
GDS	GDS HLDGS LTD	31,535	$1.101M	0.1%	$35.83	—	—	36165L108
PINS	PINTEREST INC	41,324	$1.07M	0.1%	$33.88	-34.4%	—	72352L106
VNET	VNET GROUP INC	121,670	$1.029M	0.1%	$8.95	—	—	90138A103
CCJ	CAMECO CORP	11,226	$1.027M	0.1%	$89.94	+29.3%	—	13321L108
XZO	EXZEO GROUP INC	40,000	$970K	0.1%	$19.02	+1.5%	—	30234F101
IWD	ISHARES TR	4,500	$947K	0.1%	$210.34	—	—	464287598
CIEN	CIENA CORP	4,044	$946K	0.1%	$194.00	+39.6%	—	171779309
LITE	LUMENTUM HLDGS INC	2,416	$891K	0.1%	$256.82	+81.9%	—	55024U109
MRVL	MARVELL TECHNOLOGY INC	10,036	$853K	0.1%	$87.46	-7.3%	—	573874104
OPAL	OPAL FUELS INC	358,018	$843K	0.0%	$2.41	-3.0%	—	68347P103
CNC	CENTENE CORP DEL	20,000	$823K	0.0%	—	—	CALL	15135B101
DAAQ	DIGITAL ASSET ACQUISITION CO	80,793	$821K	0.0%	$10.31	-0.9%	—	G2868C103
ANET	ARISTA NETWORKS INC	6,245	$818K	0.0%	$137.66	-1.9%	—	040413205
COHR	COHERENT CORP	4,309	$795K	0.0%	$149.58	+42.6%	—	19247G107
XHB	SPDR SERIES TRUST	6,800	$700K	0.0%	$98.72	—	CALL	78464A888
CRDO	CREDO TECHNOLOGY GROUP HOLDI	4,501	$648K	0.0%	$153.78	-14.6%	—	G25457105
NE	NOBLE CORP PLC	20,669	$584K	0.0%	$29.24	+27.1%	—	G65431127
LRCX	LAM RESEARCH CORP	3,123	$535K	0.0%	$155.36	+45.4%	—	512807306
KLAC	KLA CORP	407	$495K	0.0%	$1171.91	+24.8%	—	482480100
RDDT	REDDIT INC	2,112	$485K	0.0%	$210.30	-9.8%	—	75734B100
KHC	KRAFT HEINZ CO	20,000	$485K	0.0%	—	—	CALL	500754106
AMAT	APPLIED MATLS INC	1,850	$475K	0.0%	$239.49	+36.4%	—	038222105
MOH	MOLINA HEALTHCARE INC	2,000	$347K	0.0%	$164.37	+2.6%	—	60855R100
KRSP/U	RICE ACQUISITION CORP 3	25,000	$263K	0.0%	$10.50	—	—	G7553X122
NBIS	NEBIUS GROUP N.V.	3,000	$251K	0.0%	—	—	PUT	N97284108
AIRS	AIRSCULPT TECHNOLOGIES INC	125,800	$249K	0.0%	—	—	CALL	009496100
GLXY	GALAXY DIGITAL INC.	10,000	$224K	0.0%	—	—	PUT	36317J209
WRD	WERIDE INC	18,678	$162K	0.0%	$9.08	—	—	950915108
INFQ	CHURCHILL CAP CORP X	10,000	$156K	0.0%	$12.86	+5.4%	—	G2130T108
—	WOLFSPEED INC	88,000	$130K	0.0%	$1.48	—	—	977852AP7
PMTR	PERIMETER ACQUISITION CORP I	10,000	$103K	0.0%	$10.32	+0.5%	—	G7010A129
XGN	EXAGEN INC	10,000	$60,800	0.0%	$9.10	-52.5%	—	30068X103
STIM	NEURONETICS INC	40,000	$55,200	0.0%	$2.09	-17.6%	—	64131A105

Decreased Positions (34)

GLD SPDR GOLD TR 0.0%

Value $430K (-99.8%) Shares 1,000 (-99.8%) Est. Cost — Unrealized —

PCG PG&E CORP 0.9%

Value $16.02M (-66.8%) Shares 911,677 (-69.6%) Est. Cost $14.52 Unrealized +12.9%

GDX VANECK ETF TRUST 0.3%

Value $5.612M (-84.4%) Shares 61,158 (-85.5%) Est. Cost $84.59 Unrealized —

WFC WELLS FARGO & CO 1.8%

Value $30.42M (-49.4%) Shares 382,096 (-40.8%) Est. Cost $86.63 Unrealized +3.9%

C CITIGROUP INC 1.8%

Value $30.58M (-48.9%) Shares 269,604 (-47.4%) Est. Cost $103.64 Unrealized +12.1%

BAC BANK AMERICA CORP 1.8%

Value $30.72M (-46.8%) Shares 630,179 (-39.9%) Est. Cost $52.67 Unrealized +1.9%

IBIT ISHARES BITCOIN TRUST ETF 0.1%

Value $1.537M (-93.3%) Shares 40,000 (-91.3%) Est. Cost $38.42 Unrealized —

KWEB KRANESHARES TRUST 0.2%

Value $3.696M (-83.6%) Shares 130,000 (-80.4%) Est. Cost $40.59 Unrealized —

XLF SELECT SECTOR SPDR TR 2.9%

Value $49.37M (-24.9%) Shares 1,000,000 (-16.7%) Est. Cost $54.77 Unrealized —

GDXJ VANECK ETF TRUST 0.2%

Value $2.711M (-82.4%) Shares 22,585 (-83.3%) Est. Cost $113.78 Unrealized —

JPM JPMORGAN CHASE & CO 0.9%

Value $15.35M (-39.8%) Shares 52,192 (-34.0%) Est. Cost $309.53 Unrealized +0.6%

HYG ISHARES TR 1.1%

Value $18.3M (-31.8%) Shares 230,035 (-30.9%) Est. Cost $80.63 Unrealized —

— HEWLETT PACKARD ENTERPRISE C 0.4%

Value $6.302M (-56.3%) Shares 97,692 (-54.8%) Est. Cost $65.09 Unrealized —

— ALIBABA GROUP HLDG LTD 0.5%

Value $9.023M (-47.2%) Shares 6,500,000 (-40.9%) Est. Cost $1.47 Unrealized —

EWZ ISHARES INC 1.4%

Value $22.92M (-26.0%) Shares 597,000 (-38.8%) Est. Cost $32.09 Unrealized —

FLY FIREFLY AEROSPACE INC 0.2%

Value $2.952M (-72.4%) Shares 103,698 (-78.3%) Est. Cost $44.96 Unrealized -43.9%

— JETBLUE AIRWAYS CORP 0.4%

Value $6.57M (-52.8%) Shares 6,820,000 (-52.4%) Est. Cost $1.04 Unrealized —

GOOGL ALPHABET INC 0.0%

Value $616K (-91.3%) Shares 2,143 (-90.5%) Est. Cost $186.35 Unrealized +73.5%

— APOLLO GLOBAL MGMT INC 0.2%

Value $3.083M (-60.4%) Shares 52,739 (-48.8%) Est. Cost $75.52 Unrealized —

BIDU BAIDU INC 0.1%

Value $1.872M (-65.7%) Shares 16,800 (-59.8%) Est. Cost $104.35 Unrealized —

— SHIFT4 PMTS INC 0.3%

Value $5.265M (-37.7%) Shares 98,161 (-7.1%) Est. Cost $113.79 Unrealized —

— EVOLENT HEALTH INC 0.1%

Value $2.038M (-42.4%) Shares 3,969,000 (-20.1%) Est. Cost $0.86 Unrealized —

— ARES MANAGEMENT CORPORATION 0.1%

Value $1.167M (-54.6%) Shares 32,261 (-36.7%) Est. Cost $52.34 Unrealized —

CBC CENTRAL BANCOMPANY 0.1%

Value $1.809M (-40.3%) Shares 75,540 (-39.8%) Est. Cost $23.43 Unrealized +3.3%

— NOVANTA INC 0.6%

Value $9.605M (-9.5%) Shares 179,061 (-7.2%) Est. Cost $54.98 Unrealized —

AEXA AMERICAN EXCEPTIONALISM ACQU 0.6%

Value $9.545M (-6.0%) Shares 881,386 (-1.1%) Est. Cost $10.88 Unrealized +5.4%

TIC TIC SOLUTIONS INC 0.0%

Value $165K (-78.3%) Shares 25,000 (-66.7%) Est. Cost $11.31 Unrealized -9.4%

BTDR BITDEER TECHNOLOGIES GROUP 0.0%

Value $86,500 (-84.6%) Shares 10,000 (-80.0%) Est. Cost — Unrealized —

ECH ISHARES INC 0.1%

Value $2.386M (-15.6%) Shares 60,000 (-14.3%) Est. Cost $40.40 Unrealized —

TEM TEMPUS AI INC 0.1%

Value $1.037M (-27.5%) Shares 22,941 (-5.4%) Est. Cost $78.23 Unrealized -21.7%

AVAV AEROVIRONMENT INC 0.0%

Value $842K (-29.0%) Shares 4,600 (-6.1%) Est. Cost $314.38 Unrealized -5.7%

IREN IREN LIMITED 0.0%

Value $686K (-21.1%) Shares 20,000 (-13.0%) Est. Cost — Unrealized —

DDOG DATADOG INC 0.0%

Value $614K (-20.8%) Shares 5,200 (-8.8%) Est. Cost $137.70 Unrealized -10.0%

EWY ISHARES INC 0.2%

Value $3.998M (-3.1%) Shares 32,500 (-23.4%) Est. Cost $97.22 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	1,000 (-99.8%)	$430K (-99.8%)	0.0%	—	—	CALL	78463V107
PCG	PG&E CORP	911,677 (-69.6%)	$16.02M (-66.8%)	0.9%	$14.52	+12.9%	COM	69331C108
GDX	VANECK ETF TRUST	61,158 (-85.5%)	$5.612M (-84.4%)	0.3%	$84.59	—	GOLD MINERS ETF	92189F106
WFC	WELLS FARGO & CO	382,096 (-40.8%)	$30.42M (-49.4%)	1.8%	$86.63	+3.9%	COM	949746101
C	CITIGROUP INC	269,604 (-47.4%)	$30.58M (-48.9%)	1.8%	$103.64	+12.1%	COM NEW	172967424
BAC	BANK AMERICA CORP	630,179 (-39.9%)	$30.72M (-46.8%)	1.8%	$52.67	+1.9%	COM	060505104
IBIT	ISHARES BITCOIN TRUST ETF	40,000 (-91.3%)	$1.537M (-93.3%)	0.1%	$38.42	—	PUT	46438F101
KWEB	KRANESHARES TRUST	130,000 (-80.4%)	$3.696M (-83.6%)	0.2%	$40.59	—	CSI CHI INTERNET	500767306
XLF	SELECT SECTOR SPDR TR	1,000,000 (-16.7%)	$49.37M (-24.9%)	2.9%	$54.77	—	PUT	81369Y605
GDXJ	VANECK ETF TRUST	22,585 (-83.3%)	$2.711M (-82.4%)	0.2%	$113.78	—	JUNIOR GOLD MINE	92189F791
JPM	JPMORGAN CHASE & CO	52,192 (-34.0%)	$15.35M (-39.8%)	0.9%	$309.53	+0.6%	COM	46625H100
HYG	ISHARES TR	230,035 (-30.9%)	$18.3M (-31.8%)	1.1%	$80.63	—	IBOXX HI YD ETF	464288513
—	HEWLETT PACKARD ENTERPRISE C	97,692 (-54.8%)	$6.302M (-56.3%)	0.4%	$65.09	—	7.625 MAND CONV	42824C208
—	ALIBABA GROUP HLDG LTD	6,500,000 (-40.9%)	$9.023M (-47.2%)	0.5%	$1.47	—	NOTE 0.500% 6/0	01609WBG6
EWZ	ISHARES INC	597,000 (-38.8%)	$22.92M (-26.0%)	1.4%	$32.09	—	CALL	464286400
FLY	FIREFLY AEROSPACE INC	103,698 (-78.3%)	$2.952M (-72.4%)	0.2%	$44.96	-43.9%	COM	31816X106
—	JETBLUE AIRWAYS CORP	6,820,000 (-52.4%)	$6.57M (-52.8%)	0.4%	$1.04	—	NOTE 2.500% 9/0	477143AR2
GOOGL	ALPHABET INC	2,143 (-90.5%)	$616K (-91.3%)	0.0%	$186.35	+73.5%	CAP STK CL A	02079K305
—	APOLLO GLOBAL MGMT INC	52,739 (-48.8%)	$3.083M (-60.4%)	0.2%	$75.52	—	SER A MAND CNV	03769M304
BIDU	BAIDU INC	16,800 (-59.8%)	$1.872M (-65.7%)	0.1%	$104.35	—	SPON ADR REP A	056752108
—	SHIFT4 PMTS INC	98,161 (-7.1%)	$5.265M (-37.7%)	0.3%	$113.79	—	6 SER A CNV PREF	82452J307
—	EVOLENT HEALTH INC	3,969,000 (-20.1%)	$2.038M (-42.4%)	0.1%	$0.86	—	DEBT 4.500% 8/1	30050BAJ0
—	ARES MANAGEMENT CORPORATION	32,261 (-36.7%)	$1.167M (-54.6%)	0.1%	$52.34	—	6.75 SE B PFD	03990B309
CBC	CENTRAL BANCOMPANY	75,540 (-39.8%)	$1.809M (-40.3%)	0.1%	$23.43	+3.3%	COM CL A	152413100
—	NOVANTA INC	179,061 (-7.2%)	$9.605M (-9.5%)	0.6%	$54.98	—	UNIT 11/01/2028	67000B203
AEXA	AMERICAN EXCEPTIONALISM ACQU	881,386 (-1.1%)	$9.545M (-6.0%)	0.6%	$10.88	+5.4%	ORD CL A	G0273J101
TIC	TIC SOLUTIONS INC	25,000 (-66.7%)	$165K (-78.3%)	0.0%	$11.31	-9.4%	COM	00510N102
BTDR	BITDEER TECHNOLOGIES GROUP	10,000 (-80.0%)	$86,500 (-84.6%)	0.0%	—	—	PUT	G11448100
ECH	ISHARES INC	60,000 (-14.3%)	$2.386M (-15.6%)	0.1%	$40.40	—	MSCI CHILE ETF	464286640
TEM	TEMPUS AI INC	22,941 (-5.4%)	$1.037M (-27.5%)	0.1%	$78.23	-21.7%	CL A	88023B103
AVAV	AEROVIRONMENT INC	4,600 (-6.1%)	$842K (-29.0%)	0.0%	$314.38	-5.7%	COM	008073108
IREN	IREN LIMITED	20,000 (-13.0%)	$686K (-21.1%)	0.0%	—	—	PUT	Q4982L109
DDOG	DATADOG INC	5,200 (-8.8%)	$614K (-20.8%)	0.0%	$137.70	-10.0%	CL A COM	23804L103
EWY	ISHARES INC	32,500 (-23.4%)	$3.998M (-3.1%)	0.2%	$97.22	—	MSCI STH KOR ETF	464286772

Unchanged Positions (35)

CRTO CRITEO S A 2.4%

Value $40.52M Shares 2,260,000 Est. Cost $38.87 Unrealized —

RITM RITHM CAPITAL CORP 0.8%

Value $14.07M Shares 1,484,608 Est. Cost $7.68 Unrealized —

— GREEN PLAINS INC 0.5%

Value $7.742M Shares 5,500,000 Est. Cost $1.05 Unrealized —

YPF YPF SOCIEDAD ANONIMA 0.1%

Value $2.011M Shares 43,500 Est. Cost $36.16 Unrealized —

DQ DAQO NEW ENERGY CORP 0.1%

Value $885K Shares 41,600 Est. Cost $28.13 Unrealized —

— NEXTERA ENERGY CAP HLDGS INC 0.1%

Value $2.501M Shares 1,800,000 Est. Cost $1.17 Unrealized —

EVH EVOLENT HEALTH INC 0.0%

Value $242K Shares 106,300 Est. Cost — Unrealized —

RTAC RENATUS TACTICAL ACQUIS 0.2%

Value $4.145M Shares 403,226 Est. Cost $11.24 Unrealized -4.7%

KBONU KARBON CAP PARTNERS CORP 0.3%

Value $5.1M Shares 500,000 Est. Cost $10.07 Unrealized —

FCRS/U FUTURECREST ACQUISITION CORP 0.6%

Value $10.18M Shares 1,000,000 Est. Cost $10.60 Unrealized —

DIS DISNEY WALT CO 0.0%

Value $289K Shares 3,000 Est. Cost $96.47 Unrealized +13.4%

KCHVU KOCHAV DEFENSE ACQUI CO 0.1%

Value $977K Shares 90,528 Est. Cost $10.24 Unrealized —

MMTXU MILUNA ACQUISITION CORP 0.1%

Value $2.538M Shares 250,000 Est. Cost $9.99 Unrealized —

SVAQU SILICON VY ACQUISITION CORP 0.3%

Value $5.01M Shares 500,000 Est. Cost $9.95 Unrealized —

FINV FINVOLUTION GROUP 0.0%

Value $383K Shares 80,000 Est. Cost — Unrealized —

VOYG VOYAGER TECHNOLOGIES INC 0.0%

Value $269K Shares 11,500 Est. Cost $27.13 Unrealized +10.7%

HAVAU HARVARD AVE ACQUISITION CORP 0.1%

Value $2.53M Shares 250,000 Est. Cost $10.01 Unrealized —

EDU NEW ORIENTAL ED & TECHNOLOGY 0.1%

Value $895K Shares 15,800 Est. Cost $64.18 Unrealized —

AEAQU ACTIVATE ENERGY ACQUISIT COR 0.1%

Value $2.222M Shares 220,000 Est. Cost $10.00 Unrealized —

HAVA HARVARD AVE ACQUISITION CORP 0.1%

Value $2.502M Shares 250,000 Est. Cost $9.91 Unrealized +0.7%

CCXIU CHURCHILL CAP CORP XI 0.3%

Value $5.125M Shares 500,000 Est. Cost $10.21 Unrealized —

CEPV CANTOR EQUITY PARTNERS V INC 0.1%

Value $1.01M Shares 100,000 Est. Cost $10.25 Unrealized -0.4%

DMIIU DRUGS MADE IN AMER ACQ II CO 0.1%

Value $2.51M Shares 250,000 Est. Cost $9.95 Unrealized —

GTERU GLOBA TERRA ACQUISITION COR 0.1%

Value $1.027M Shares 99,157 Est. Cost $10.17 Unrealized —

LFACU LEAPFROG ACQUISITION CORP 0.1%

Value $1.256M Shares 125,000 Est. Cost $10.01 Unrealized —

DSACU DAEDALUS SPL ACQUISITION COR 0.1%

Value $2.257M Shares 225,000 Est. Cost $10.05 Unrealized —

VNMEU VENDOME ACQUISITION CORP I 0.0%

Value $427K Shares 41,594 Est. Cost $9.98 Unrealized —

MESHU MESHFLOW ACQUISITION CORP 0.1%

Value $996K Shares 100,000 Est. Cost $10.00 Unrealized —

IRHOU IRON HORSE ACQUISIT II CORP 0.1%

Value $1.743M Shares 175,000 Est. Cost $9.94 Unrealized —

CCIIU COHEN CIRCLE ACQUISIT CORP I 0.1%

Value $1.537M Shares 148,651 Est. Cost $10.28 Unrealized —

SAC/U SAFEGUARD ACQUISITION CORP 0.0%

Value $506K Shares 50,000 Est. Cost $10.09 Unrealized —

SCPQU SOCIAL COMM PARTNERS CORP 0.1%

Value $1.001M Shares 100,000 Est. Cost $10.00 Unrealized —

BLRKU BLUEROCK ACQUISITION CORP 0.0%

Value $251K Shares 25,000 Est. Cost $10.00 Unrealized —

ADACU AMERICAN DRIVE ACQUISITION C 0.3%

Value $4.985M Shares 500,000 Est. Cost $9.97 Unrealized —

BCSS/U BAIN CAP GSS INVT CORP 0.3%

Value $4.599M Shares 450,000 Est. Cost $10.09 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CRTO	CRITEO S A	2,260,000	$40.52M	2.4%	$38.87	—	SPONS ADS	226718104
RITM	RITHM CAPITAL CORP	1,484,608	$14.07M	0.8%	$7.68	—	COM NEW	64828T201
—	GREEN PLAINS INC	5,500,000	$7.742M	0.5%	$1.05	—	NOTE 5.250%11/0	393222AM6
YPF	YPF SOCIEDAD ANONIMA	43,500	$2.011M	0.1%	$36.16	—	SPON ADR CL D	984245100
DQ	DAQO NEW ENERGY CORP	41,600	$885K	0.1%	$28.13	—	SPNSRD ADS NEW	23703Q203
—	NEXTERA ENERGY CAP HLDGS INC	1,800,000	$2.501M	0.1%	$1.17	—	NOTE 3.000% 3/0	65339KCY4
EVH	EVOLENT HEALTH INC	106,300	$242K	0.0%	—	—	PUT	30050B101
RTAC	RENATUS TACTICAL ACQUIS	403,226	$4.145M	0.2%	$11.24	-4.7%	SHS CL A	G7490F101
KBONU	KARBON CAP PARTNERS CORP	500,000	$5.1M	0.3%	$10.07	—	UNIT 12/11/2030	G5225W126
FCRS/U	FUTURECREST ACQUISITION CORP	1,000,000	$10.18M	0.6%	$10.60	—	UNIT 99/99/9999	G3730U123
DIS	DISNEY WALT CO	3,000	$289K	0.0%	$96.47	+13.4%	COM	254687106
KCHVU	KOCHAV DEFENSE ACQUI CO	90,528	$977K	0.1%	$10.24	—	UNIT 05/21/2030	G5304D122
MMTXU	MILUNA ACQUISITION CORP	250,000	$2.538M	0.1%	$9.99	—	UNIT 09/29/2030	G6180J126
SVAQU	SILICON VY ACQUISITION CORP	500,000	$5.01M	0.3%	$9.95	—	UNIT 12/08/2030	G81306105
FINV	FINVOLUTION GROUP	80,000	$383K	0.0%	—	—	PUT	31810T101
VOYG	VOYAGER TECHNOLOGIES INC	11,500	$269K	0.0%	$27.13	+10.7%	COM CL A	92892B103
HAVAU	HARVARD AVE ACQUISITION CORP	250,000	$2.53M	0.1%	$10.01	—	UNIT 10/03/2030	G4330A129
EDU	NEW ORIENTAL ED & TECHNOLOGY	15,800	$895K	0.1%	$64.18	—	SPON ADR	647581206
AEAQU	ACTIVATE ENERGY ACQUISIT COR	220,000	$2.222M	0.1%	$10.00	—	UNIT 11/10/2030	G0081J129
HAVA	HARVARD AVE ACQUISITION CORP	250,000	$2.502M	0.1%	$9.91	+0.7%	USD CL A ORD SHS	G4330A103
CCXIU	CHURCHILL CAP CORP XI	500,000	$5.125M	0.3%	$10.21	—	UNIT 12/10/2030	G2131A124
CEPV	CANTOR EQUITY PARTNERS V INC	100,000	$1.01M	0.1%	$10.25	-0.4%	SHS CL A S	G1828S109
DMIIU	DRUGS MADE IN AMER ACQ II CO	250,000	$2.51M	0.1%	$9.95	—	UNIT 09/16/2030	G2851K120
GTERU	GLOBA TERRA ACQUISITION COR	99,157	$1.027M	0.1%	$10.17	—	UNIT 99/99/9999	G3933N108
LFACU	LEAPFROG ACQUISITION CORP	125,000	$1.256M	0.1%	$10.01	—	UNIT 11/10/2030	G5414D129
DSACU	DAEDALUS SPL ACQUISITION COR	225,000	$2.257M	0.1%	$10.05	—	UNIT 11/10/2030	G2616C124
VNMEU	VENDOME ACQUISITION CORP I	41,594	$427K	0.0%	$9.98	—	UNIT 06/20/2030	G9580A125
MESHU	MESHFLOW ACQUISITION CORP	100,000	$996K	0.1%	$10.00	—	UNIT 11/19/2030	G6032N127
IRHOU	IRON HORSE ACQUISIT II CORP	175,000	$1.743M	0.1%	$9.94	—	UNIT 07/11/2030	46283H202
CCIIU	COHEN CIRCLE ACQUISIT CORP I	148,651	$1.537M	0.1%	$10.28	—	UNIT 07/01/2030	G2254C105
SAC/U	SAFEGUARD ACQUISITION CORP	50,000	$506K	0.0%	$10.09	—	UNIT 99/99/9999	G77676123
SCPQU	SOCIAL COMM PARTNERS CORP	100,000	$1.001M	0.1%	$10.00	—	UNIT 11/24/2030	G8254P129
BLRKU	BLUEROCK ACQUISITION CORP	25,000	$251K	0.0%	$10.00	—	UNIT 11/06/2030	G1352R121
ADACU	AMERICAN DRIVE ACQUISITION C	500,000	$4.985M	0.3%	$9.97	—	UNIT 12/04/2030	G0R91M121
BCSS/U	BAIN CAP GSS INVT CORP	450,000	$4.599M	0.3%	$10.09	—	UNIT 99/99/9999	G0R78B122