Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SMH	VANECK ETF TRUST	237,700	$91.13M	2.5%	$203.47	—	PUT	92189F676
GLD	SPDR GOLD TR	140,000	$60.24M	1.6%	$385.80	—	PUT	78463V107
JPM	JPMORGAN CHASE & CO	150,000	$44.12M	1.2%	$242.74	+28.3%	CALL	46625H100
XLE	SELECT SECTOR SPDR TR	500,000	$30.63M	0.8%	—	—	CALL	81369Y506
WDC	WESTERN DIGITAL CORP	112,100	$30.32M	0.8%	$151.55	+65.8%	CALL	958102105
GLD	SPDR GOLD TR	61,000	$26.25M	0.7%	$385.80	—	CALL	78463V107
XLC	SELECT SECTOR SPDR TR	200,000	$22.17M	0.6%	$104.52	—	PUT	81369Y852
USO	UNITED STS OIL FD LP	151,500	$19.28M	0.5%	$127.25	—	PUT	91232N207
RKLB	ROCKET LAB CORP	300,000	$19.27M	0.5%	—	—	CALL	773121108
TSLA	TESLA INC	50,000	$18.59M	0.5%	$333.63	+27.7%	PUT	88160R101
XLP	SELECT SECTOR SPDR TR	210,000	$17.22M	0.5%	$81.98	—	CALL	81369Y308
SLV	ISHARES SILVER TR	245,000	$16.69M	0.5%	$61.28	—	CALL	46428Q109
XLI	SELECT SECTOR SPDR TR	100,000	$16.17M	0.4%	—	—	CALL	81369Y704
USO	United States Oil Fund	121,831	$15.5M	0.4%	$127.25	—	UNITS	91232N207
EWY	ISHARES INC	125,000	$15.38M	0.4%	$123.01	—	CALL	464286772
XLB	SELECT SECTOR SPDR TR	300,000	$14.99M	0.4%	$49.97	—	CALL	81369Y100
KLAC	KLA CORP	10,000	$14.72M	0.4%	$1462.03	0.0%	PUT	482480100
KLAC	KLA Corporation	9,704	$14.29M	0.4%	$1462.03	0.0%	COM NEW	482480100
USO	UNITED STS OIL FD LP	96,500	$12.28M	0.3%	$127.25	—	CALL	91232N207
XLV	SELECT SECTOR SPDR TR	75,000	$11M	0.3%	$146.61	—	PUT	81369Y209
AVAV	AEROVIRONMENT INC	55,000	$10.07M	0.3%	—	—	CALL	008073108
XLU	SELECT SECTOR SPDR TR	200,000	$9.178M	0.2%	$45.89	—	CALL	81369Y886
BMY	BRISTOL-MYERS SQUIBB CO	150,000	$9.098M	0.2%	—	—	CALL	110122108
NVDA	NVIDIA CORPORATION	50,000	$8.72M	0.2%	$186.13	+0.3%	CALL	67066G104
VTV	VANGUARD VALUE ETF	40,239	$7.895M	0.2%	$196.20	—	VALUE ETF	922908744
RTX	RTX Corporation	40,650	$7.841M	0.2%	$196.61	0.0%	COM	75513E101
PLTR	PALANTIR TECHNOLOGIES INC	50,000	$7.314M	0.2%	$90.13	+71.0%	CALL	69608A108
XME	SPDR SERIES TRUST	60,000	$6.481M	0.2%	$108.01	—	CALL	78464A755
IAK	ISHARES TR	45,960	$5.896M	0.2%	$128.29	—	U.S. INSRNCE ETF	464288786
RTX	RTX CORPORATION	30,000	$5.787M	0.2%	$196.61	0.0%	PUT	75513E101
XLB	STATE STRET MATRL SLCT SCTR SPDR ETF	115,632	$5.778M	0.2%	$49.97	—	STATE STREET MAT	81369Y100
RGTI	RIGETTI COMPUTING INC	400,000	$5.616M	0.2%	$11.20	+82.5%	CALL	76655K103
PAVE	GLOBAL X FDS	100,000	$5.081M	0.1%	—	—	CALL	37954Y673
PJP	INVESCO EXCHANGE TRADED FD T	45,960	$4.769M	0.1%	$103.76	—	PHARMACEUTICALS	46137V662
HWM	HOWMET AEROSPACE INC	20,000	$4.609M	0.1%	$144.92	+56.3%	PUT	443201108
SVOL	SIMPLIFY VOLATILITY PREMIUM ETF	260,455	$3.995M	0.1%	$15.34	—	VOLATILITY PREM	82889N863
EPU	ISHARES TR	46,080	$3.719M	0.1%	$80.71	—	MSCI PERU AND GL	464289842
XLU	SELECT SECTOR UTI SELECT SPDR ETF	79,646	$3.655M	0.1%	$45.89	—	STATE STREET UTI	81369Y886
SOXX	ISHARES SEMICONDUCTOR ETF	10,637	$3.496M	0.1%	$328.66	—	ISHARES SEMICDTR	464287523
SLV	ISHARES SILVER TR	50,000	$3.407M	0.1%	$61.28	—	PUT	46428Q109
ALB	ALBEMARLE CORP	18,160	$3.26M	0.1%	$171.25	0.0%	COM	012653101
URA	GLOBAL X FDS	50,000	$2.421M	0.1%	—	—	CALL	37954Y871
SMCI	SUPER MICRO COMPUTER INC	100,000	$2.277M	0.1%	—	—	CALL	86800U302
USAR	USA RARE EARTH INC	150,000	$2.27M	0.1%	—	—	CALL	91733P107
XLP	State Street Consumer Staples Select Sector SPDR ETF	27,366	$2.243M	0.1%	$81.98	—	STATE STREET CON	81369Y308
ECH	ISHARES INC	45,960	$1.827M	0.0%	$39.76	—	MSCI CHILE ETF	464286640
RKLB	ROCKET LAB CORP	25,000	$1.605M	0.0%	—	—	PUT	773121108
FCX	FREEPORT MCMORAN INC	25,000	$1.47M	0.0%	$61.12	0.0%	CALL	35671D857
FCX	Freeport-McMoRan Inc	23,440	$1.378M	0.0%	$61.12	0.0%	CL B	35671D857
IGF	iShares Global Infrastructure ETF	19,796	$1.326M	0.0%	$67.00	—	GLB INFRASTR ETF	464288372
EWY	ISHARES INC	10,741	$1.321M	0.0%	$123.01	—	MSCI STH KOR ETF	464286772
XLV	Health Care Select Sector SPDR Fund	4,673	$685K	0.0%	$146.61	—	STATE STREET HEA	81369Y209
XME	State Street SPDR SP Metals Mining ETF	2,334	$252K	0.0%	$108.01	—	STATE STREET SPD	78464A755

Increased Positions (28)

QQQ INVESCO QQQ TR 19.5%

Value $721M (+232.0%) Shares 1,250,000 (+253.4%) Est. Cost $557.54 Unrealized —

QQQ INVESCO QQQ TR 20.3%

Value $750M (+142.3%) Shares 1,300,000 (+157.8%) Est. Cost $557.54 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 14.6%

Value $540M (+40.7%) Shares 830,000 (+47.6%) Est. Cost $632.20 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 10.5%

Value $390M (+63.5%) Shares 600,000 (+71.4%) Est. Cost $632.20 Unrealized —

SPY SPDR S&P 500 ETF Trust 2.6%

Value $96.04M (+98.8%) Shares 147,679 (+108.4%) Est. Cost $632.20 Unrealized —

QQQ Invesco QQQ Trust Series 1 1.6%

Value $59.53M (+237.3%) Shares 103,144 (+259.0%) Est. Cost $557.54 Unrealized —

NVDA NVIDIA CORPORATION 1.6%

Value $57.55M (+105.7%) Shares 330,000 (+120.0%) Est. Cost $186.13 Unrealized +0.3%

IBIT ISHARES BITCOIN TRUST ETF 0.5%

Value $19.21M (+437.4%) Shares 500,000 (+594.4%) Est. Cost $60.07 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.4%

Value $13.45M (+88.1%) Shares 350,000 (+143.1%) Est. Cost $60.07 Unrealized —

TSLA TESLA INC 0.5%

Value $18.59M (+37.8%) Shares 50,000 (+66.7%) Est. Cost $333.63 Unrealized +27.7%

SLV iShares Silver Trust 0.1%

Value $5.333M (+598.9%) Shares 78,272 (+560.7%) Est. Cost $61.28 Unrealized —

EWO iShares MSCI Austria ETF 0.1%

Value $4.431M (+149.9%) Shares 125,000 (+150.0%) Est. Cost $33.03 Unrealized —

IGLD FT VEST GOLD STRT TRGT INCM ETF 0.2%

Value $8.263M (+40.4%) Shares 323,655 (+37.5%) Est. Cost $24.37 Unrealized —

HWM HOWMET AEROSPACE ORD 0.2%

Value $8.066M (+41.3%) Shares 34,998 (+25.7%) Est. Cost $144.92 Unrealized +56.3%

AAPL Apple, Inc. 0.1%

Value $3.108M (+236.3%) Shares 12,245 (+260.3%) Est. Cost $242.85 Unrealized +8.2%

GLD SPDR Gold Shares 0.3%

Value $10.81M (+24.7%) Shares 25,125 (+14.8%) Est. Cost $385.80 Unrealized —

TLT ISHARES 20 PLS YEAR TREASURY BND ETF 0.3%

Value $11.26M (+20.1%) Shares 129,941 (+20.7%) Est. Cost $89.90 Unrealized —

NVO NOVO-NORDISK A S 0.1%

Value $4.594M (+20.4%) Shares 125,000 (+66.7%) Est. Cost $88.72 Unrealized —

USOI UBS AG ETRACS CD OL CR CL ETN 0.1%

Value $2.651M (+32.6%) Shares 46,000 (+8.9%) Est. Cost $48.17 Unrealized —

IONQ IONQ INC 0.2%

Value $8.649M (-3.6%) Shares 300,000 (+50.0%) Est. Cost $56.04 Unrealized -26.1%

MSTR STRATEGY INC 0.1%

Value $3.157M (-2.4%) Shares 25,300 (+18.8%) Est. Cost $278.57 Unrealized -47.3%

GOOY YIELDMAX GOOGL OPTN INC STGY ETF 0.0%

Value $586K (+6.3%) Shares 46,166 (+22.2%) Est. Cost $13.55 Unrealized —

APLY YIELDMAX AAPL OPT INC STRTGY ETF 0.0%

Value $484K (+7.7%) Shares 41,123 (+22.1%) Est. Cost $14.65 Unrealized —

MSFO YIELDMAX MSFT OPTN INC STRG ETF 0.0%

Value $366K (-8.5%) Shares 31,657 (+22.3%) Est. Cost $15.82 Unrealized —

MSTR MICROSTRATEGY CL A ORD 0.1%

Value $3.266M (-1.0%) Shares 26,167 (+20.5%) Est. Cost $278.57 Unrealized -47.3%

NVDY YIELDMAX NVDA OPTN INC STRGY ETF 0.0%

Value $426K (+8.3%) Shares 32,819 (+21.9%) Est. Cost $16.88 Unrealized —

FBY YIELDMAX META OPTN INC STGY ETF 0.0%

Value $336K (-2.3%) Shares 33,265 (+22.1%) Est. Cost $15.16 Unrealized —

AMZY YIELDMAX AMZN OPTN INC STRGY ETF 0.0%

Value $387K (+1.4%) Shares 35,107 (+22.2%) Est. Cost $15.02 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	1,250,000 (+253.4%)	$721M (+232.0%)	19.5%	$557.54	—	PUT	46090E103
QQQ	INVESCO QQQ TR	1,300,000 (+157.8%)	$750M (+142.3%)	20.3%	$557.54	—	CALL	46090E103
SPY	STATE STR SPDR S&P 500 ETF T	830,000 (+47.6%)	$540M (+40.7%)	14.6%	$632.20	—	PUT	78462F103
SPY	STATE STR SPDR S&P 500 ETF T	600,000 (+71.4%)	$390M (+63.5%)	10.5%	$632.20	—	CALL	78462F103
SPY	SPDR S&P 500 ETF Trust	147,679 (+108.4%)	$96.04M (+98.8%)	2.6%	$632.20	—	TR UNIT	78462F103
QQQ	Invesco QQQ Trust Series 1	103,144 (+259.0%)	$59.53M (+237.3%)	1.6%	$557.54	—	UNIT SER 1	46090E103
NVDA	NVIDIA CORPORATION	330,000 (+120.0%)	$57.55M (+105.7%)	1.6%	$186.13	+0.3%	PUT	67066G104
IBIT	ISHARES BITCOIN TRUST ETF	500,000 (+594.4%)	$19.21M (+437.4%)	0.5%	$60.07	—	PUT	46438F101
IBIT	ISHARES BITCOIN TRUST ETF	350,000 (+143.1%)	$13.45M (+88.1%)	0.4%	$60.07	—	CALL	46438F101
TSLA	TESLA INC	50,000 (+66.7%)	$18.59M (+37.8%)	0.5%	$333.63	+27.7%	CALL	88160R101
SLV	iShares Silver Trust	78,272 (+560.7%)	$5.333M (+598.9%)	0.1%	$61.28	—	ISHARES	46428Q109
EWO	iShares MSCI Austria ETF	125,000 (+150.0%)	$4.431M (+149.9%)	0.1%	$33.03	—	MSCI AUSTRIA ETF	464286202
IGLD	FT VEST GOLD STRT TRGT INCM ETF	323,655 (+37.5%)	$8.263M (+40.4%)	0.2%	$24.37	—	FT VEST GOLD	33733E856
HWM	HOWMET AEROSPACE ORD	34,998 (+25.7%)	$8.066M (+41.3%)	0.2%	$144.92	+56.3%	COM	443201108
AAPL	Apple, Inc.	12,245 (+260.3%)	$3.108M (+236.3%)	0.1%	$242.85	+8.2%	COM	037833100
GLD	SPDR Gold Shares	25,125 (+14.8%)	$10.81M (+24.7%)	0.3%	$385.80	—	GOLD SHS	78463V107
TLT	ISHARES 20 PLS YEAR TREASURY BND ETF	129,941 (+20.7%)	$11.26M (+20.1%)	0.3%	$89.90	—	20 YR TR BD ETF	464287432
NVO	NOVO-NORDISK A S	125,000 (+66.7%)	$4.594M (+20.4%)	0.1%	$88.72	—	CALL	670100205
USOI	UBS AG ETRACS CD OL CR CL ETN	46,000 (+8.9%)	$2.651M (+32.6%)	0.1%	$48.17	—	ETRACS CRUDE OIL	22539U602
IONQ	IONQ INC	300,000 (+50.0%)	$8.649M (-3.6%)	0.2%	$56.04	-26.1%	CALL	46222L108
MSTR	STRATEGY INC	25,300 (+18.8%)	$3.157M (-2.4%)	0.1%	$278.57	-47.3%	PUT	594972408
GOOY	YIELDMAX GOOGL OPTN INC STGY ETF	46,166 (+22.2%)	$586K (+6.3%)	0.0%	$13.55	—	YIELDMAX GOOGL	88634T790
APLY	YIELDMAX AAPL OPT INC STRTGY ETF	41,123 (+22.1%)	$484K (+7.7%)	0.0%	$14.65	—	YIELDMAX AAPL	88634T857
MSFO	YIELDMAX MSFT OPTN INC STRG ETF	31,657 (+22.3%)	$366K (-8.5%)	0.0%	$15.82	—	YIELDMAX MSFT OP	88634T428
MSTR	MICROSTRATEGY CL A ORD	26,167 (+20.5%)	$3.266M (-1.0%)	0.1%	$278.57	-47.3%	CL A NEW	594972408
NVDY	YIELDMAX NVDA OPTN INC STRGY ETF	32,819 (+21.9%)	$426K (+8.3%)	0.0%	$16.88	—	YIELDMAX NVDA	88634T774
FBY	YIELDMAX META OPTN INC STGY ETF	33,265 (+22.1%)	$336K (-2.3%)	0.0%	$15.16	—	YIELDMAX META	88634T816
AMZY	YIELDMAX AMZN OPTN INC STRGY ETF	35,107 (+22.2%)	$387K (+1.4%)	0.0%	$15.02	—	YIELDMAX AMZN OP	88634T840

Exited Positions (28)

GE GE AEROSPACE 0.8%

Value $30.8M Shares 100,000 Est. Cost $284.25 Unrealized +11.9%

GE GE AEROSPACE 0.6%

Value $23.1M Shares 75,000 Est. Cost $284.25 Unrealized +11.9%

GE General Electric Co 0.5%

Value $18.69M Shares 60,674 Est. Cost $284.25 Unrealized +11.9%

XLV SELECT SECTOR SPDR TR 0.5%

Value $17.03M Shares 110,000 Est. Cost $146.61 Unrealized —

VST VISTRA CORP 0.3%

Value $12.1M Shares 75,000 Est. Cost $161.97 Unrealized +0.8%

MSFT MICROSOFT CORP 0.3%

Value $12.09M Shares 25,000 Est. Cost $391.46 Unrealized +11.0%

RDDT Reddit Inc 0.3%

Value $11.78M Shares 51,230 Est. Cost $210.30 Unrealized -9.8%

XLC SELECT SECTOR SPDR TR 0.3%

Value $11.77M Shares 100,000 Est. Cost $104.52 Unrealized —

RDDT REDDIT INC 0.3%

Value $11.49M Shares 50,000 Est. Cost $210.30 Unrealized -9.8%

BSX BOSTON SCIENTIFIC CORP 0.3%

Value $9.831M Shares 103,100 Est. Cost $84.38 Unrealized +1.7%

VFH Vanguard Financials ETF 0.3%

Value $9.765M Shares 73,154 Est. Cost $94.69 Unrealized —

MSFT Microsoft Corp 0.3%

Value $9.266M Shares 19,160 Est. Cost $391.46 Unrealized +11.0%

XNTK SPDR NYSE Technology ETF 0.2%

Value $8.546M Shares 30,754 Est. Cost $246.95 Unrealized —

TSLA Tesla Inc 0.2%

Value $7.232M Shares 16,082 Est. Cost $333.63 Unrealized +27.7%

KCE State Street SPDR S&P Capital Markets 0.1%

Value $3.947M Shares 26,328 Est. Cost $86.93 Unrealized —

SPYG SPDR Portfolio S&P 5 00 Growth ETF 0.1%

Value $3.818M Shares 35,780 Est. Cost $95.32 Unrealized —

XLK Technology Select Se ctor SPDR Fund 0.1%

Value $2.95M Shares 20,492 Est. Cost $155.86 Unrealized —

XLY Consumer Discretiona ry Select Sector SPD 0.1%

Value $2.223M Shares 18,613 Est. Cost $172.40 Unrealized —

VST Vistra Energy Corp 0.0%

Value $1.332M Shares 8,257 Est. Cost $161.97 Unrealized +0.8%

BMI Badger Meter Inc 0.0%

Value $1.192M Shares 6,837 Est. Cost $147.13 Unrealized +10.0%

AMZN Amazon.com Inc 0.0%

Value $877K Shares 3,798 Est. Cost $187.27 Unrealized +21.1%

IONQ IonQ Inc 0.0%

Value $827K Shares 18,420 Est. Cost $56.04 Unrealized -26.1%

CEG CONSTELLATION ENERGY 0.0%

Value $713K Shares 2,017 Est. Cost $236.58 Unrealized +27.3%

RGTI Rigetti Computing In c 0.0%

Value $593K Shares 26,787 Est. Cost $11.20 Unrealized +82.5%

NVO Novo Nordisk A/S 0.0%

Value $511K Shares 10,049 Est. Cost $88.72 Unrealized —

BSX Boston Scientific Co rp 0.0%

Value $432K Shares 4,528 Est. Cost $84.38 Unrealized +1.7%

MSTR STRATEGY INC 0.0%

Value $304K Shares 2,000 Est. Cost $278.57 Unrealized -47.3%

NRG NRG Energy Inc 0.0%

Value $281K Shares 1,767 Est. Cost $165.30 Unrealized -4.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GE	GE AEROSPACE	100,000	$30.8M	0.8%	$284.25	+11.9%	PUT	369604301
GE	GE AEROSPACE	75,000	$23.1M	0.6%	$284.25	+11.9%	CALL	369604301
GE	General Electric Co	60,674	$18.69M	0.5%	$284.25	+11.9%	—	369604301
XLV	SELECT SECTOR SPDR TR	110,000	$17.03M	0.5%	$146.61	—	CALL	81369Y209
VST	VISTRA CORP	75,000	$12.1M	0.3%	$161.97	+0.8%	CALL	92840M102
MSFT	MICROSOFT CORP	25,000	$12.09M	0.3%	$391.46	+11.0%	PUT	594918104
RDDT	Reddit Inc	51,230	$11.78M	0.3%	$210.30	-9.8%	—	75734B100
XLC	SELECT SECTOR SPDR TR	100,000	$11.77M	0.3%	$104.52	—	CALL	81369Y852
RDDT	REDDIT INC	50,000	$11.49M	0.3%	$210.30	-9.8%	PUT	75734B100
BSX	BOSTON SCIENTIFIC CORP	103,100	$9.831M	0.3%	$84.38	+1.7%	CALL	101137107
VFH	Vanguard Financials ETF	73,154	$9.765M	0.3%	$94.69	—	—	92204A405
MSFT	Microsoft Corp	19,160	$9.266M	0.3%	$391.46	+11.0%	—	594918104
XNTK	SPDR NYSE Technology ETF	30,754	$8.546M	0.2%	$246.95	—	—	78464A102
TSLA	Tesla Inc	16,082	$7.232M	0.2%	$333.63	+27.7%	—	88160R101
KCE	State Street SPDR S&P Capital Markets	26,328	$3.947M	0.1%	$86.93	—	—	78464A771
SPYG	SPDR Portfolio S&P 5 00 Growth ETF	35,780	$3.818M	0.1%	$95.32	—	—	78464A409
XLK	Technology Select Se ctor SPDR Fund	20,492	$2.95M	0.1%	$155.86	—	—	81369Y803
XLY	Consumer Discretiona ry Select Sector SPD	18,613	$2.223M	0.1%	$172.40	—	—	81369Y407
VST	Vistra Energy Corp	8,257	$1.332M	0.0%	$161.97	+0.8%	—	92840M102
BMI	Badger Meter Inc	6,837	$1.192M	0.0%	$147.13	+10.0%	—	056525108
AMZN	Amazon.com Inc	3,798	$877K	0.0%	$187.27	+21.1%	—	023135106
IONQ	IonQ Inc	18,420	$827K	0.0%	$56.04	-26.1%	—	46222L108
CEG	CONSTELLATION ENERGY	2,017	$713K	0.0%	$236.58	+27.3%	—	21037T109
RGTI	Rigetti Computing In c	26,787	$593K	0.0%	$11.20	+82.5%	—	76655K103
NVO	Novo Nordisk A/S	10,049	$511K	0.0%	$88.72	—	—	670100205
BSX	Boston Scientific Co rp	4,528	$432K	0.0%	$84.38	+1.7%	—	101137107
MSTR	STRATEGY INC	2,000	$304K	0.0%	$278.57	-47.3%	CALL	594972408
NRG	NRG Energy Inc	1,767	$281K	0.0%	$165.30	-4.1%	—	629377508

Decreased Positions (28)

IWM ISHARES TR 1.3%

Value $49.6M (-32.8%) Shares 200,000 (-33.3%) Est. Cost $214.79 Unrealized —

LRCX LAM RESEARCH CORP 0.2%

Value $8.546M (-66.7%) Shares 40,000 (-73.3%) Est. Cost $155.36 Unrealized +45.4%

PLTR PALANTIR TECHNOLOGIES INC 0.1%

Value $4.388M (-75.3%) Shares 30,000 (-70.0%) Est. Cost $90.13 Unrealized +71.0%

JPM JPMORGAN CHASE ORD 0.1%

Value $2.427M (-79.5%) Shares 8,249 (-77.5%) Est. Cost $242.74 Unrealized +28.3%

WDC Western Digital Corporation 0.2%

Value $6.116M (-56.7%) Shares 22,610 (-72.4%) Est. Cost $151.55 Unrealized +65.8%

XLF Financial Select Sector SPDR Fund 0.0%

Value $270K (-96.7%) Shares 5,465 (-96.4%) Est. Cost $45.22 Unrealized —

LRCX LAM RESEARCH CORP 0.3%

Value $10.68M (-40.6%) Shares 50,000 (-52.4%) Est. Cost $155.36 Unrealized +45.4%

NEM Newmont Corporation 0.0%

Value $1.615M (-75.0%) Shares 14,915 (-76.9%) Est. Cost $90.20 Unrealized +31.0%

NVDA NVIDIA Corp. 0.2%

Value $7.571M (-36.6%) Shares 43,411 (-32.1%) Est. Cost $186.13 Unrealized +0.3%

XLC COMMUNICAT SVS SLCT SEC SPDR ETF 0.3%

Value $10.59M (-28.3%) Shares 95,558 (-23.9%) Est. Cost $104.52 Unrealized —

WDC WESTERN DIGITAL CORP 0.5%

Value $16.8M (+21.9%) Shares 62,100 (-22.4%) Est. Cost $151.55 Unrealized +65.8%

IBIT iShares Bitcoin Trus 0.0%

Value $622K (-82.6%) Shares 16,190 (-77.6%) Est. Cost $60.07 Unrealized —

IWM ISHARES RUSSELL 2000 ETF 0.0%

Value $839K (-65.3%) Shares 3,385 (-65.6%) Est. Cost $214.79 Unrealized —

SMH VANECK ETF TRUST 2.7%

Value $98.8M (+1.6%) Shares 257,700 (-4.6%) Est. Cost $203.47 Unrealized —

SMH VanEck Vectors Semiconductor ETF 0.3%

Value $11.73M (-11.3%) Shares 30,595 (-16.7%) Est. Cost $203.47 Unrealized —

GDX VANECK GOLD MINERS ETF 0.1%

Value $2.598M (-34.8%) Shares 28,312 (-39.0%) Est. Cost $63.87 Unrealized —

LRCX LAM RESEARCH CORP 0.2%

Value $9.161M (+17.7%) Shares 42,878 (-5.7%) Est. Cost $155.36 Unrealized +45.4%

PLTR Palantir Technologies Inc. 0.1%

Value $3.41M (-23.3%) Shares 23,310 (-6.8%) Est. Cost $90.13 Unrealized +71.0%

VGK Vanguard FTSE Europe ETF 0.1%

Value $5.363M (-9.4%) Shares 65,057 (-8.1%) Est. Cost $77.62 Unrealized —

IESC IESC 0.1%

Value $2.649M (+14.2%) Shares 5,560 (-6.8%) Est. Cost $178.29 Unrealized +156.1%

T ATT 0.1%

Value $3.521M (+7.2%) Shares 121,470 (-8.2%) Est. Cost $14.96 Unrealized +72.1%

AROC AROC 0.0%

Value $1.111M (+22.9%) Shares 31,932 (-8.1%) Est. Cost $19.73 Unrealized +48.2%

META Facebook Inc 0.0%

Value $768K (-18.5%) Shares 1,342 (-6.0%) Est. Cost $620.64 Unrealized +5.6%

ARGT Global X MSCI Argentina ETF 0.1%

Value $2.124M (-6.2%) Shares 22,761 (-8.2%) Est. Cost $50.50 Unrealized —

EPOL iShares MSCI Poland ETF 0.0%

Value $1.822M (-5.0%) Shares 50,044 (-8.2%) Est. Cost $32.21 Unrealized —

SPMD SPDR PORTFOLIO S&P 400 MID CAP ETF 0.0%

Value $1.749M (-4.5%) Shares 29,539 (-6.6%) Est. Cost $45.89 Unrealized —

CBOE CBOE GLOBAL MARKETS ORD 0.1%

Value $2.654M (+3.2%) Shares 9,444 (-7.9%) Est. Cost $151.37 Unrealized +79.7%

COLO Global X MSCI Colombia ETF 0.0%

Value $631K (+2.0%) Shares 15,962 (-8.1%) Est. Cost $29.08 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	200,000 (-33.3%)	$49.6M (-32.8%)	1.3%	$214.79	—	CALL	464287655
LRCX	LAM RESEARCH CORP	40,000 (-73.3%)	$8.546M (-66.7%)	0.2%	$155.36	+45.4%	PUT	512807306
PLTR	PALANTIR TECHNOLOGIES INC	30,000 (-70.0%)	$4.388M (-75.3%)	0.1%	$90.13	+71.0%	PUT	69608A108
JPM	JPMORGAN CHASE ORD	8,249 (-77.5%)	$2.427M (-79.5%)	0.1%	$242.74	+28.3%	COM	46625H100
WDC	Western Digital Corporation	22,610 (-72.4%)	$6.116M (-56.7%)	0.2%	$151.55	+65.8%	COM	958102105
XLF	Financial Select Sector SPDR Fund	5,465 (-96.4%)	$270K (-96.7%)	0.0%	$45.22	—	STATE STREET FIN	81369Y605
LRCX	LAM RESEARCH CORP	50,000 (-52.4%)	$10.68M (-40.6%)	0.3%	$155.36	+45.4%	CALL	512807306
NEM	Newmont Corporation	14,915 (-76.9%)	$1.615M (-75.0%)	0.0%	$90.20	+31.0%	COM	651639106
NVDA	NVIDIA Corp.	43,411 (-32.1%)	$7.571M (-36.6%)	0.2%	$186.13	+0.3%	COM	67066G104
XLC	COMMUNICAT SVS SLCT SEC SPDR ETF	95,558 (-23.9%)	$10.59M (-28.3%)	0.3%	$104.52	—	STATE STREET COM	81369Y852
WDC	WESTERN DIGITAL CORP	62,100 (-22.4%)	$16.8M (+21.9%)	0.5%	$151.55	+65.8%	PUT	958102105
IBIT	iShares Bitcoin Trus	16,190 (-77.6%)	$622K (-82.6%)	0.0%	$60.07	—	SHS BEN INT	46438F101
IWM	ISHARES RUSSELL 2000 ETF	3,385 (-65.6%)	$839K (-65.3%)	0.0%	$214.79	—	RUSSELL 2000 ETF	464287655
SMH	VANECK ETF TRUST	257,700 (-4.6%)	$98.8M (+1.6%)	2.7%	$203.47	—	CALL	92189F676
SMH	VanEck Vectors Semiconductor ETF	30,595 (-16.7%)	$11.73M (-11.3%)	0.3%	$203.47	—	SEMICONDUCTR ETF	92189F676
GDX	VANECK GOLD MINERS ETF	28,312 (-39.0%)	$2.598M (-34.8%)	0.1%	$63.87	—	GOLD MINERS ETF	92189F106
LRCX	LAM RESEARCH CORP	42,878 (-5.7%)	$9.161M (+17.7%)	0.2%	$155.36	+45.4%	COM NEW	512807306
PLTR	Palantir Technologies Inc.	23,310 (-6.8%)	$3.41M (-23.3%)	0.1%	$90.13	+71.0%	CL A	69608A108
VGK	Vanguard FTSE Europe ETF	65,057 (-8.1%)	$5.363M (-9.4%)	0.1%	$77.62	—	FTSE EUROPE ETF	922042874
IESC	IESC	5,560 (-6.8%)	$2.649M (+14.2%)	0.1%	$178.29	+156.1%	COM	44951W106
T	ATT	121,470 (-8.2%)	$3.521M (+7.2%)	0.1%	$14.96	+72.1%	COM	00206R102
AROC	AROC	31,932 (-8.1%)	$1.111M (+22.9%)	0.0%	$19.73	+48.2%	COM	03957W106
META	Facebook Inc	1,342 (-6.0%)	$768K (-18.5%)	0.0%	$620.64	+5.6%	CL A	30303M102
ARGT	Global X MSCI Argentina ETF	22,761 (-8.2%)	$2.124M (-6.2%)	0.1%	$50.50	—	GB MSCI AR ETF	37950E259
EPOL	iShares MSCI Poland ETF	50,044 (-8.2%)	$1.822M (-5.0%)	0.0%	$32.21	—	MSCI POLAND ETF	46429B606
SPMD	SPDR PORTFOLIO S&P 400 MID CAP ETF	29,539 (-6.6%)	$1.749M (-4.5%)	0.0%	$45.89	—	STATE STREET SPD	78464A847
CBOE	CBOE GLOBAL MARKETS ORD	9,444 (-7.9%)	$2.654M (+3.2%)	0.1%	$151.37	+79.7%	COM	12503M108
COLO	Global X MSCI Colombia ETF	15,962 (-8.1%)	$631K (+2.0%)	0.0%	$29.08	—	GLBX MSCI COLUM	37954Y327

Unchanged Positions (3)

JPM JPMORGAN CHASE & CO 0.8%

Value $29.42M Shares 100,000 Est. Cost $242.74 Unrealized +28.3%

XAR SPDR S&P AEROSPACE 0.1%

Value $3.506M Shares 13,804 Est. Cost $93.14 Unrealized —

LLY ELI LILLY ORD 0.0%

Value $888K Shares 966 Est. Cost $813.65 Unrealized +28.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JPM	JPMORGAN CHASE & CO	100,000	$29.42M	0.8%	$242.74	+28.3%	PUT	46625H100
XAR	SPDR S&P AEROSPACE	13,804	$3.506M	0.1%	$93.14	—	STATE STREET SPD	78464A631
LLY	ELI LILLY ORD	966	$888K	0.0%	$813.65	+28.7%	COM	532457108