Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SLV	ISHARES SILVER TR	810,000	$43.31M	12.8%	—	—	CALL	46428Q109
TCOM	TRIP COM GROUP LTD	100,000	$31.16M	9.2%	$39.84	—	PUT	89677Q107
—	DEXCOM INC	8,000,000	$7.47M	2.2%	$0.93	—	NOTE 0.375% 5/1	252131AM9
—	HAEMONETICS CORP MASS	7,000,000	$7.111M	2.1%	$1.02	—	NOTE 2.500% 6/0	405024AD2
EWZ	ISHARES INC	200,000	$6.9M	2.0%	$35.72	—	CALL	464286400
SMH	VANECK ETF TRUST	10,000	$6.559M	1.9%	—	—	PUT	92189F676
IQV	IQVIA HLDGS INC	32,000	$6.183M	1.8%	—	—	CALL	46266C105
COPX	GLOBAL X FDS	80,000	$6.158M	1.8%	—	—	PUT	37954Y830
KWEB	KRANESHARES TRUST	231,800	$5.672M	1.7%	$27.55	—	CALL	500767306
AMT	AMERICAN TOWER CORP	33,500	$5.48M	1.6%	$163.57	—	CALL	03027X100
JD	JD.COM INC	55,000	$5.459M	1.6%	—	—	PUT	47215P106
NLY	ANNALY CAPITAL MANAGEMENT IN	170,000	$3.801M	1.1%	$22.36	—	CALL	035710839
DFTX	DEFINIUM THERAPEUTICS INC	80,000	$3.763M	1.1%	$47.04	—	PUT	24477V105
—	MAKEMYTRIP LIMITED MAURITIUS	4,000,000	$3.648M	1.1%	$0.91	—	NOTE 7/0	56087FAD6
BABA	ALIBABA GROUP HLDG LTD	32,000	$2.971M	0.9%	$95.98	—	CALL	01609W102
—	ETSY INC	2,000,000	$2.323M	0.7%	$1.16	—	NOTE 1.000% 6/1	29786AAQ9
XLV	SELECT SECTOR SPDR TR	14,000	$2.221M	0.7%	$158.66	—	ST STR CARE ETF	81369Y209
TCOM	TRIP COM GROUP LTD	50,000	$1.992M	0.6%	$39.84	—	ADS	89677Q107
—	UBER TECHNOLOGIES INC	1,500,000	$1.797M	0.5%	$1.20	—	NOTE 0.875%12/0	90353TAM2
—	ALIBABA GROUP HLDG LTD	1,500,000	$1.772M	0.5%	$1.18	—	NOTE 0.500% 6/0	01609WBG6
CHYM	CHIME FINL INC	75,000	$1.536M	0.5%	$24.01	—	CALL	16935C109
EXE	EXPAND ENERGY CORPORATION	15,000	$1.368M	0.4%	$91.19	—	COM	165167735
EQT	EQT CORP	25,000	$1.329M	0.4%	$53.17	—	COM	26884L109
NTR	NUTRIEN LTD	21,000	$1.322M	0.4%	—	—	CALL	67077M108
SILJ	AMPLIFY ETF TR	50,000	$1.296M	0.4%	$25.92	—	CALL	032108649
—	UBER TECHNOLOGIES INC	1,000,000	$1.157M	0.3%	$1.16	—	NOTE 5/1	90353TAS9
RRC	RANGE RES CORP	30,000	$1.116M	0.3%	$37.19	—	COM	75281A109
AR	ANTERO RESOURCES CORP	30,000	$1.054M	0.3%	$35.14	—	COM	03674X106
NLY	ANNALY CAPITAL MANAGEMENT IN	45,000	$1.006M	0.3%	$22.36	—	COM NEW	035710839
INDA	ISHARES TR	20,000	$988K	0.3%	$49.39	—	MSCI INDIA ETF	46429B598
DFTX	DEFINIUM THERAPEUTICS INC	20,000	$941K	0.3%	$47.04	—	COM SHS	24477V105
IBN	ICICI BANK LIMITED	30,000	$871K	0.3%	$29.03	—	ADR	45104G104
DFTX	DEFINIUM THERAPEUTICS INC	15,000	$706K	0.2%	$47.04	—	CALL	24477V105
HDB	HDFC BANK LTD	25,000	$646K	0.2%	$25.83	—	SPONSORED ADS	40415F101
SILJ	AMPLIFY ETF TR	21,000	$544K	0.2%	$25.92	—	JR SILV MINE ETF	032108649
TEM	TEMPUS AI INC	7,000	$406K	0.1%	$57.93	—	CL A	88023B103
XE	X-ENERGY INC	21,000	$386K	0.1%	$18.36	—	COM CL A	98386P102
REXR	REXFORD INDL RLTY INC	10,000	$335K	0.1%	$33.50	—	COM	76169C100
COPX	GLOBAL X FDS	4,000	$308K	0.1%	—	—	CALL	37954Y830
BABA	ALIBABA GROUP HLDG LTD	3,000	$288K	0.1%	$95.98	—	SPONSORED ADS	01609W102
AMT	AMERICAN TOWER CORP	1,500	$245K	0.1%	$163.57	—	COM	03027X100
PROP	PRAIRIE OPER CO	315,000	$227K	0.1%	$0.72	—	COM	739650109
QFIN	QFIN HOLDINGS INC	14,000	$221K	0.1%	$15.81	—	AMERICAN DEP	88557W101
FINV	FINVOLUTION GROUP	35,000	$168K	0.0%	$4.79	—	SPONSORED ADS	31810T101
AZUL	AZUL S A	12,751	$115K	0.0%	$8.99	—	SPONSORED ADS	05501U601
UAMY	UNITED STATES ANTIMONY CORP	15,000	$109K	0.0%	$7.26	—	COM	911549103

Increased Positions (9)

SPY STATE STR SPDR S&P 500 ETF T 30.9%

Value $105M (+129.7%) Shares 140,000 (+100.0%) Est. Cost — Unrealized —

GDX VANECK ETF TRUST 7.1%

Value $24.14M (+275.8%) Shares 320,000 (+357.1%) Est. Cost $84.97 Unrealized —

GDX VANECK ETF TRUST 2.7%

Value $9.054M (+40.9%) Shares 120,000 (+71.4%) Est. Cost $84.97 Unrealized —

EWZ ISHARES INC 0.4%

Value $1.208M (+185.9%) Shares 35,000 (+218.2%) Est. Cost $35.72 Unrealized —

ECH ISHARES INC 0.4%

Value $1.389M (+74.7%) Shares 35,000 (+75.0%) Est. Cost $39.73 Unrealized —

EAF GRAFTECH INTL LTD SR NT 0.1%

Value $347K (+321.9%) Shares 58,703 (+384.0%) Est. Cost $7.08 Unrealized —

KWEB KRANESHARES TRUST 0.3%

Value $1.101M (+10.7%) Shares 45,000 (+28.6%) Est. Cost $27.55 Unrealized —

CNDT CONDUENT INC 0.1%

Value $247K (+28.7%) Shares 169,300 (+12.9%) Est. Cost $1.63 Unrealized —

BHC BAUSCH HEALTH COS INC 0.1%

Value $394K (+4.3%) Shares 80,000 (+14.3%) Est. Cost $6.54 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	140,000 (+100.0%)	$105M (+129.7%)	30.9%	—	—	PUT	78462F103
GDX	VANECK ETF TRUST	320,000 (+357.1%)	$24.14M (+275.8%)	7.1%	$84.97	—	PUT	92189F106
GDX	VANECK ETF TRUST	120,000 (+71.4%)	$9.054M (+40.9%)	2.7%	$84.97	—	GOLD MINERS ETF	92189F106
EWZ	ISHARES INC	35,000 (+218.2%)	$1.208M (+185.9%)	0.4%	$35.72	—	MSCI BRAZIL ETF	464286400
ECH	ISHARES INC	35,000 (+75.0%)	$1.389M (+74.7%)	0.4%	$39.73	—	MSCI CHILE ETF	464286640
EAF	GRAFTECH INTL LTD SR NT	58,703 (+384.0%)	$347K (+321.9%)	0.1%	$7.08	—	COM NEW	384313607
KWEB	KRANESHARES TRUST	45,000 (+28.6%)	$1.101M (+10.7%)	0.3%	$27.55	—	CSI CHI INTERNET	500767306
CNDT	CONDUENT INC	169,300 (+12.9%)	$247K (+28.7%)	0.1%	$1.63	—	COM	206787103
BHC	BAUSCH HEALTH COS INC	80,000 (+14.3%)	$394K (+4.3%)	0.1%	$6.54	—	COM	071734107

Exited Positions (11)

HYG ISHARES TR 18.1%

Value $61.3M Shares 770,500 Est. Cost $79.56 Unrealized —

— SHIFT4 PMTS INC 1.9%

Value $6.589M Shares 7,000,000 Est. Cost $0.96 Unrealized —

HYG ISHARES TR 1.2%

Value $3.978M Shares 50,000 Est. Cost $79.56 Unrealized —

— ENPHASE ENERGY INC 0.5%

Value $1.788M Shares 2,000,000 Est. Cost $0.87 Unrealized —

CNC CENTENE CORP DEL 0.3%

Value $982K Shares 30,000 Est. Cost — Unrealized —

MMYT MAKEMYTRIP LIMITED MAURITIUS 0.3%

Value $932K Shares 25,000 Est. Cost — Unrealized —

UNH UNITEDHEALTH GROUP INC 0.2%

Value $812K Shares 3,000 Est. Cost — Unrealized —

— BILL HOLDINGS INC 0.2%

Value $743K Shares 768,000 Est. Cost $0.83 Unrealized —

NU NU HLDGS LTD 0.2%

Value $647K Shares 45,000 Est. Cost $16.35 Unrealized —

MMYT MAKEMYTRIP LIMITED MAURITIUS 0.2%

Value $559K Shares 15,000 Est. Cost — Unrealized —

CHYM CHIME FINL INC 0.1%

Value $281K Shares 15,000 Est. Cost $24.01 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	770,500	$61.3M	18.1%	$79.56	—	PUT	464288513
—	SHIFT4 PMTS INC	7,000,000	$6.589M	1.9%	$0.96	—	—	82452JAD1
HYG	ISHARES TR	50,000	$3.978M	1.2%	$79.56	—	—	464288513
—	ENPHASE ENERGY INC	2,000,000	$1.788M	0.5%	$0.87	—	—	29355AAK3
CNC	CENTENE CORP DEL	30,000	$982K	0.3%	—	—	CALL	15135B101
MMYT	MAKEMYTRIP LIMITED MAURITIUS	25,000	$932K	0.3%	—	—	PUT	V5633W109
UNH	UNITEDHEALTH GROUP INC	3,000	$812K	0.2%	—	—	CALL	91324P102
—	BILL HOLDINGS INC	768,000	$743K	0.2%	$0.83	—	—	090043AD2
NU	NU HLDGS LTD	45,000	$647K	0.2%	$16.35	—	—	G6683N103
MMYT	MAKEMYTRIP LIMITED MAURITIUS	15,000	$559K	0.2%	—	—	CALL	V5633W109
CHYM	CHIME FINL INC	15,000	$281K	0.1%	$24.01	—	—	16935C109

Decreased Positions (2)

BHC BAUSCH HEALTH COS INC 0.5%

Value $1.726M (-20.1%) Shares 350,000 (-12.5%) Est. Cost $6.54 Unrealized —

TMQ TRILOGY METALS INC NEW 0.0%

Value $35,100 (-72.1%) Shares 10,000 (-71.4%) Est. Cost $5.03 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BHC	BAUSCH HEALTH COS INC	350,000 (-12.5%)	$1.726M (-20.1%)	0.5%	$6.54	—	CALL	071734107
TMQ	TRILOGY METALS INC NEW	10,000 (-71.4%)	$35,100 (-72.1%)	0.0%	$5.03	—	COM	89621C105

Unchanged Positions (10)

CMPS COMPASS PATHWAYS PLC 0.2%

Value $637K Shares 45,000 Est. Cost $5.53 Unrealized —

— TRIP COM GROUP LTD 1.6%

Value $5.428M Shares 5,500,000 Est. Cost $1.04 Unrealized —

ATAI ATAIBECKLEY INC 0.1%

Value $316K Shares 60,000 Est. Cost $3.85 Unrealized —

— LITHIUM ARGENTINA AG 0.8%

Value $2.839M Shares 2,860,000 Est. Cost $0.77 Unrealized —

— JD.COM INC 2.0%

Value $6.885M Shares 7,000,000 Est. Cost $1.02 Unrealized —

— NEOGENOMICS INC 0.8%

Value $2.812M Shares 3,000,000 Est. Cost $0.86 Unrealized —

HELP CYBIN INC 0.1%

Value $241K Shares 36,421 Est. Cost $8.37 Unrealized —

EVO EVOTEC AG 0.0%

Value $87,794 Shares 31,355 Est. Cost $3.08 Unrealized —

— NCL CORP LTD 0.1%

Value $496K Shares 500,000 Est. Cost $1.00 Unrealized —

CCO CLEAR CHANNEL OUTDOOR HLDGS 0.0%

Value $72,600 Shares 30,000 Est. Cost $1.48 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CMPS	COMPASS PATHWAYS PLC	45,000	$637K	0.2%	$5.53	—	SPONSORED ADS	20451W101
—	TRIP COM GROUP LTD	5,500,000	$5.428M	1.6%	$1.04	—	NOTE 0.750% 6/1	89677QAB3
ATAI	ATAIBECKLEY INC	60,000	$316K	0.1%	$3.85	—	COM SHS	04650F101
—	LITHIUM ARGENTINA AG	2,860,000	$2.839M	0.8%	$0.77	—	NOTE 1.750% 1/1	53680QAA6
—	JD.COM INC	7,000,000	$6.885M	2.0%	$1.02	—	NOTE 0.250% 6/0	47215PAJ5
—	NEOGENOMICS INC	3,000,000	$2.812M	0.8%	$0.86	—	NOTE 0.250% 1/1	64049MAB6
HELP	CYBIN INC	36,421	$241K	0.1%	$8.37	—	COM NEW	23256X407
EVO	EVOTEC AG	31,355	$87,794	0.0%	$3.08	—	SPONSORED ADS	30050E105
—	NCL CORP LTD	500,000	$496K	0.1%	$1.00	—	NOTE 1.125% 2/1	62886HBD2
CCO	CLEAR CHANNEL OUTDOOR HLDGS	30,000	$72,600	0.0%	$1.48	—	COM	18453H106