QVR LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	82,000	$32,497	1.6%	$387.39	—	PUT	78463V107
META	META PLATFORMS INC	21,318	$14,072	0.7%	$667.32	0.0%	CL A	30303M102
AMZN	AMAZON COM INC	34,261	$7,908	0.4%	$228.79	0.0%	COM	023135106
HYG	ISHARES TR	60,000	$4,838	0.2%	—	—	PUT	464288513
SLV	ISHARES SILVER TR	50,000	$3,221	0.2%	—	—	PUT	46428Q109
V	VISA INC	7,887	$2,766	0.1%	$340.38	0.0%	COM CL A	92826C839
GE	GE AEROSPACE	5,466	$1,684	0.1%	$300.80	0.0%	COM NEW	369604301
CRM	SALESFORCE INC	6,109	$1,618	0.1%	$248.17	0.0%	COM	79466L302
PM	PHILIP MORRIS INTL INC	8,192	$1,314	0.1%	$153.57	0.0%	COM	718172109
LRCX	LAM RESEARCH CORP	7,217	$1,235	0.1%	$155.36	0.0%	COM NEW	512807306
BA	BOEING CO	5,219	$1,133	0.1%	$205.66	0.0%	COM	097023105
LIN	LINDE PLC	2,421	$1,032	0.1%	$427.28	0.0%	SHS	G54950103
AMZN	AMAZON COM INC	4,000	$923	0.0%	$228.79	0.0%	CALL	023135106
NFLX	NETFLIX INC	9,400	$881	0.0%	—	—	CALL	64110L106
MA	MASTERCARD INCORPORATED	1,531	$874	0.0%	$558.95	0.0%	CL A	57636Q104
DIS	DISNEY WALT CO	7,625	$867	0.0%	$109.53	0.0%	COM	254687106
SCHW	SCHWAB CHARLES CORP	8,382	$837	0.0%	$94.74	0.0%	COM	808513105
BMY	BRISTOL-MYERS SQUIBB CO	14,520	$783	0.0%	$47.53	0.0%	COM	110122108
C	CITIGROUP INC	6,185	$722	0.0%	$103.64	0.0%	COM NEW	172967424
COF	CAPITAL ONE FINL CORP	2,695	$653	0.0%	$222.19	0.0%	COM	14040H105
CB	CHUBB LIMITED	1,888	$589	0.0%	$292.40	0.0%	COM	H1467J104
MA	MASTERCARD INCORPORATED	800	$457	0.0%	$558.95	0.0%	PUT	57636Q104
CVX	CHEVRON CORP NEW	2,837	$432	0.0%	$151.40	0.0%	COM	166764100
ETN	EATON CORP PLC	1,200	$382	0.0%	—	—	CALL	G29183103
AMAT	APPLIED MATLS INC	1,479	$380	0.0%	$239.49	0.0%	COM	038222105
ICE	INTERCONTINENTAL EXCHANGE IN	2,328	$377	0.0%	$156.20	0.0%	COM	45866F104
ADI	ANALOG DEVICES INC	1,384	$375	0.0%	$250.62	0.0%	COM	032654105
WELL	WELLTOWER INC	1,900	$353	0.0%	$163.41	+14.1%	CALL	95040Q104
SPGI	S&P GLOBAL INC	674	$352	0.0%	$494.21	0.0%	COM	78409V104
SCHW	SCHWAB CHARLES CORP	3,400	$340	0.0%	$94.74	0.0%	PUT	808513105
ISRG	INTUITIVE SURGICAL INC	563	$319	0.0%	$532.37	0.0%	COM NEW	46120E602
JEF	JEFFERIES FINL GROUP INC	5,000	$310	0.0%	—	—	PUT	47233W109
C	CITIGROUP INC	2,400	$280	0.0%	$103.64	0.0%	PUT	172967424
GE	GE AEROSPACE	900	$277	0.0%	$300.80	0.0%	PUT	369604301
ADBE	ADOBE INC	784	$274	0.0%	$340.09	0.0%	COM	00724F101
LOW	LOWES COS INC	1,100	$265	0.0%	$244.20	-1.8%	CALL	548661107
COP	CONOCOPHILLIPS	2,813	$263	0.0%	$90.02	0.0%	COM	20825C104
GILD	GILEAD SCIENCES INC	2,070	$254	0.0%	$120.88	0.0%	COM	375558103
PGR	PROGRESSIVE CORP	1,100	$250	0.0%	—	—	CALL	743315103
DIS	DISNEY WALT CO	2,100	$239	0.0%	$109.53	0.0%	PUT	254687106
CRM	SALESFORCE INC	900	$238	0.0%	$248.17	0.0%	PUT	79466L302
LMT	LOCKHEED MARTIN CORP	479	$232	0.0%	$476.18	0.0%	COM	539830109
CAT	CATERPILLAR INC	400	$229	0.0%	$375.82	+47.8%	CALL	149123101
BA	BOEING CO	1,000	$217	0.0%	$205.66	0.0%	PUT	097023105
DHR	DANAHER CORPORATION	926	$212	0.0%	$219.54	0.0%	COM	235851102
KLAC	KLA CORP	171	$208	0.0%	$1171.91	0.0%	COM NEW	482480100
LRCX	LAM RESEARCH CORP	1,200	$205	0.0%	$155.36	0.0%	PUT	512807306
ADI	ANALOG DEVICES INC	700	$190	0.0%	$250.62	0.0%	PUT	032654105
VRTX	VERTEX PHARMACEUTICALS INC	400	$181	0.0%	$431.03	0.0%	PUT	92532F100
LIN	LINDE PLC	400	$171	0.0%	$427.28	0.0%	PUT	G54950103
ISRG	INTUITIVE SURGICAL INC	300	$170	0.0%	$532.37	0.0%	PUT	46120E602
BMY	BRISTOL-MYERS SQUIBB CO	3,100	$167	0.0%	$47.53	0.0%	PUT	110122108
DHR	DANAHER CORPORATION	700	$160	0.0%	$219.54	0.0%	PUT	235851102
SLB	SLB LIMITED	4,000	$154	0.0%	$36.06	0.0%	COM STK	806857108
COF	CAPITAL ONE FINL CORP	600	$145	0.0%	$222.19	0.0%	PUT	14040H105
KLAC	KLA CORP	100	$122	0.0%	$1171.91	0.0%	PUT	482480100
VRTX	VERTEX PHARMACEUTICALS INC	253	$115	0.0%	$431.03	0.0%	COM	92532F100
ADBE	ADOBE INC	300	$105	0.0%	$340.09	0.0%	PUT	00724F101
CB	CHUBB LIMITED	300	$94	0.0%	$292.40	0.0%	PUT	H1467J104
AMAT	APPLIED MATLS INC	300	$77	0.0%	$239.49	0.0%	PUT	038222105
SLB	SLB LIMITED	2,000	$77	0.0%	$36.06	0.0%	CALL	806857108
SPGI	S&P GLOBAL INC	100	$52	0.0%	$494.21	0.0%	PUT	78409V104
PM	PHILIP MORRIS INTL INC	300	$48	0.0%	$153.57	0.0%	PUT	718172109
TSLA	TESLA INC	100	$45	0.0%	$408.50	+8.5%	CALL	88160R101
BA	BOEING CO	100	$22	0.0%	$205.66	0.0%	CALL	097023105
COP	CONOCOPHILLIPS	100	$9	0.0%	$90.02	0.0%	PUT	20825C104
COP	CONOCOPHILLIPS	100	$9	0.0%	$90.02	0.0%	CALL	20825C104

Increased Positions (34)

TSLA TESLA INC 19.4%

Value ($000) $384,690 (+545.5%) Shares 855,400 (+538.4%) Est. Cost $408.50 Unrealized +8.5%

NVDA NVIDIA CORPORATION 17.2%

Value ($000) $340,493 (+119.7%) Shares 1,825,700 (+119.8%) Est. Cost $160.58 Unrealized +15.9%

AMD ADVANCED MICRO DEVICES INC 10.1%

Value ($000) $200,197 (+275.2%) Shares 986,900 (+199.2%) Est. Cost $210.04 Unrealized +6.9%

GOOG ALPHABET INC 10.8%

Value ($000) $213,761 (+137.5%) Shares 681,200 (+84.4%) Est. Cost $237.68 Unrealized +20.5%

AMZN AMAZON COM INC 7.8%

Value ($000) $154,372 (+199.6%) Shares 668,800 (+185.0%) Est. Cost $228.79 Unrealized 0.0%

META META PLATFORMS INC 6.9%

Value ($000) $137,365 (+199.8%) Shares 208,100 (+233.5%) Est. Cost $667.32 Unrealized 0.0%

GOOGL ALPHABET INC 5.1%

Value ($000) $101,349 (+92.7%) Shares 323,800 (+49.7%) Est. Cost $218.04 Unrealized +31.0%

PLTR PALANTIR TECHNOLOGIES INC 8.8%

Value ($000) $174,231 (+28.0%) Shares 980,200 (+31.3%) Est. Cost $121.55 Unrealized +48.9%

NVDA NVIDIA CORPORATION 1.5%

Value ($000) $30,325 (+712.7%) Shares 162,600 (+713.0%) Est. Cost $160.58 Unrealized +15.9%

GLD SPDR GOLD TR 1.1%

Value ($000) $21,004 (+1081.8%) Shares 53,000 (+960.0%) Est. Cost $387.39 Unrealized —

TSLA TESLA INC 1.2%

Value ($000) $22,843 (+211.2%) Shares 50,794 (+207.8%) Est. Cost $408.50 Unrealized +8.5%

AMD ADVANCED MICRO DEVICES INC 0.6%

Value ($000) $11,409 (+500.1%) Shares 53,273 (+353.3%) Est. Cost $210.04 Unrealized +6.9%

GOOG ALPHABET INC 0.7%

Value ($000) $14,320 (+178.1%) Shares 45,635 (+115.8%) Est. Cost $237.68 Unrealized +20.5%

LLY ELI LILLY & CO 0.4%

Value ($000) $7,713 (+1365.0%) Shares 7,177 (+940.1%) Est. Cost $935.04 Unrealized +2.2%

GOOGL ALPHABET INC 0.6%

Value ($000) $12,109 (+57.2%) Shares 38,688 (+22.1%) Est. Cost $218.04 Unrealized +31.0%

LLY ELI LILLY & CO 0.2%

Value ($000) $4,191 (+2646.6%) Shares 3,900 (+1850.0%) Est. Cost $935.04 Unrealized +2.2%

AVGO BROADCOM INC 0.2%

Value ($000) $3,219 (+1851.3%) Shares 9,300 (+1760.0%) Est. Cost $266.72 Unrealized +33.8%

MU MICRON TECHNOLOGY INC 0.2%

Value ($000) $3,329 (+613.4%) Shares 11,664 (+318.2%) Est. Cost $205.07 Unrealized +11.8%

MRK MERCK & CO INC 0.1%

Value ($000) $2,489 (+382.1%) Shares 23,647 (+284.4%) Est. Cost $90.06 Unrealized +3.5%

RTX RTX CORPORATION 0.1%

Value ($000) $1,433 (+394.6%) Shares 7,812 (+351.3%) Est. Cost $169.10 Unrealized +2.5%

XOM EXXON MOBIL CORP 0.1%

Value ($000) $1,222 (+742.2%) Shares 10,156 (+689.1%) Est. Cost $114.75 Unrealized +0.6%

BTAL AGF INVTS TR 0.1%

Value ($000) $1,238 (+515.5%) Shares 86,018 (+581.0%) Est. Cost $14.61 Unrealized —

GLD SPDR GOLD TR 0.1%

Value ($000) $1,027 (+689.3%) Shares 2,591 (+607.9%) Est. Cost $387.39 Unrealized —

WFC WELLS FARGO CO NEW 0.1%

Value ($000) $1,303 (+204.7%) Shares 13,982 (+174.0%) Est. Cost $84.38 Unrealized +2.7%

MRK MERCK & CO INC 0.0%

Value ($000) $747 (+1172.1%) Shares 7,100 (+914.3%) Est. Cost $90.06 Unrealized +3.5%

V VISA INC 0.0%

Value ($000) $701 (+1954.7%) Shares 2,000 (+1900.0%) Est. Cost $340.38 Unrealized 0.0%

JPM JPMORGAN CHASE & CO. 0.1%

Value ($000) $1,755 (+45.7%) Shares 5,446 (+42.6%) Est. Cost $287.93 Unrealized +7.5%

MU MICRON TECHNOLOGY INC 0.1%

Value ($000) $1,056 (+103.6%) Shares 3,700 (+19.4%) Est. Cost $205.07 Unrealized +11.8%

RTX RTX CORPORATION 0.0%

Value ($000) $459 (+2640.1%) Shares 2,500 (+2400.0%) Est. Cost $169.10 Unrealized +2.5%

AAPL APPLE INC 0.0%

Value ($000) $381 (+273.7%) Shares 1,400 (+250.0%) Est. Cost $222.21 Unrealized +20.8%

TMO THERMO FISHER SCIENTIFIC INC 0.0%

Value ($000) $491 (+129.7%) Shares 848 (+92.3%) Est. Cost $512.95 Unrealized +10.2%

SVXY PROSHARES TR II 0.1%

Value ($000) $1,385 (+18.2%) Shares 25,001 (+8.7%) Est. Cost $43.62 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.0%

Value ($000) $171 (+164.7%) Shares 800 (+100.0%) Est. Cost $210.04 Unrealized +6.9%

GS GOLDMAN SACHS GROUP INC 0.0%

Value ($000) $432 (+24.3%) Shares 492 (+12.6%) Est. Cost $743.62 Unrealized +9.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSLA	TESLA INC	855,400 (+538.4%)	$384,690 (+545.5%)	19.4%	$408.50	+8.5%	PUT	88160R101
NVDA	NVIDIA CORPORATION	1,825,700 (+119.8%)	$340,493 (+119.7%)	17.2%	$160.58	+15.9%	PUT	67066G104
AMD	ADVANCED MICRO DEVICES INC	986,900 (+199.2%)	$200,197 (+275.2%)	10.1%	$210.04	+6.9%	PUT	007903107
GOOG	ALPHABET INC	681,200 (+84.4%)	$213,761 (+137.5%)	10.8%	$237.68	+20.5%	PUT	02079K107
AMZN	AMAZON COM INC	668,800 (+185.0%)	$154,372 (+199.6%)	7.8%	$228.79	0.0%	PUT	023135106
META	META PLATFORMS INC	208,100 (+233.5%)	$137,365 (+199.8%)	6.9%	$667.32	0.0%	PUT	30303M102
GOOGL	ALPHABET INC	323,800 (+49.7%)	$101,349 (+92.7%)	5.1%	$218.04	+31.0%	PUT	02079K305
PLTR	PALANTIR TECHNOLOGIES INC	980,200 (+31.3%)	$174,231 (+28.0%)	8.8%	$121.55	+48.9%	PUT	69608A108
NVDA	NVIDIA CORPORATION	162,600 (+713.0%)	$30,325 (+712.7%)	1.5%	$160.58	+15.9%	CALL	67066G104
GLD	SPDR GOLD TR	53,000 (+960.0%)	$21,004 (+1081.8%)	1.1%	$387.39	—	CALL	78463V107
TSLA	TESLA INC	50,794 (+207.8%)	$22,843 (+211.2%)	1.2%	$408.50	+8.5%	COM	88160R101
AMD	ADVANCED MICRO DEVICES INC	53,273 (+353.3%)	$11,409 (+500.1%)	0.6%	$210.04	+6.9%	COM	007903107
GOOG	ALPHABET INC	45,635 (+115.8%)	$14,320 (+178.1%)	0.7%	$237.68	+20.5%	CAP STK CL C	02079K107
LLY	ELI LILLY & CO	7,177 (+940.1%)	$7,713 (+1365.0%)	0.4%	$935.04	+2.2%	COM	532457108
GOOGL	ALPHABET INC	38,688 (+22.1%)	$12,109 (+57.2%)	0.6%	$218.04	+31.0%	CAP STK CL A	02079K305
LLY	ELI LILLY & CO	3,900 (+1850.0%)	$4,191 (+2646.6%)	0.2%	$935.04	+2.2%	PUT	532457108
AVGO	BROADCOM INC	9,300 (+1760.0%)	$3,219 (+1851.3%)	0.2%	$266.72	+33.8%	CALL	11135F101
MU	MICRON TECHNOLOGY INC	11,664 (+318.2%)	$3,329 (+613.4%)	0.2%	$205.07	+11.8%	COM	595112103
MRK	MERCK & CO INC	23,647 (+284.4%)	$2,489 (+382.1%)	0.1%	$90.06	+3.5%	COM	58933Y105
RTX	RTX CORPORATION	7,812 (+351.3%)	$1,433 (+394.6%)	0.1%	$169.10	+2.5%	COM	75513E101
XOM	EXXON MOBIL CORP	10,156 (+689.1%)	$1,222 (+742.2%)	0.1%	$114.75	+0.6%	COM	30231G102
BTAL	AGF INVTS TR	86,018 (+581.0%)	$1,238 (+515.5%)	0.1%	$14.61	—	US MARKET NETRL	00110G408
GLD	SPDR GOLD TR	2,591 (+607.9%)	$1,027 (+689.3%)	0.1%	$387.39	—	GOLD SHS	78463V107
WFC	WELLS FARGO CO NEW	13,982 (+174.0%)	$1,303 (+204.7%)	0.1%	$84.38	+2.7%	COM	949746101
MRK	MERCK & CO INC	7,100 (+914.3%)	$747 (+1172.1%)	0.0%	$90.06	+3.5%	PUT	58933Y105
V	VISA INC	2,000 (+1900.0%)	$701 (+1954.7%)	0.0%	$340.38	0.0%	PUT	92826C839
JPM	JPMORGAN CHASE & CO.	5,446 (+42.6%)	$1,755 (+45.7%)	0.1%	$287.93	+7.5%	COM	46625H100
MU	MICRON TECHNOLOGY INC	3,700 (+19.4%)	$1,056 (+103.6%)	0.1%	$205.07	+11.8%	PUT	595112103
RTX	RTX CORPORATION	2,500 (+2400.0%)	$459 (+2640.1%)	0.0%	$169.10	+2.5%	PUT	75513E101
AAPL	APPLE INC	1,400 (+250.0%)	$381 (+273.7%)	0.0%	$222.21	+20.8%	CALL	037833100
TMO	THERMO FISHER SCIENTIFIC INC	848 (+92.3%)	$491 (+129.7%)	0.0%	$512.95	+10.2%	COM	883556102
SVXY	PROSHARES TR II	25,001 (+8.7%)	$1,385 (+18.2%)	0.1%	$43.62	—	SHT VIX ST TRM	74347W130
AMD	ADVANCED MICRO DEVICES INC	800 (+100.0%)	$171 (+164.7%)	0.0%	$210.04	+6.9%	CALL	007903107
GS	GOLDMAN SACHS GROUP INC	492 (+12.6%)	$432 (+24.3%)	0.0%	$743.62	+9.4%	COM	38141G104

Exited Positions (61)

AAPL APPLE INC 0.9%

Value ($000) $17,404 Shares 68,350 Est. Cost $222.21 Unrealized +20.8%

AVGO BROADCOM INC 0.1%

Value ($000) $2,738 Shares 8,300 Est. Cost $266.72 Unrealized +33.8%

QQQ INVESCO QQQ TR 0.1%

Value ($000) $2,042 Shares 3,402 Est. Cost $551.64 Unrealized —

AVGO BROADCOM INC 0.1%

Value ($000) $1,310 Shares 3,971 Est. Cost $266.72 Unrealized +33.8%

HD HOME DEPOT INC 0.1%

Value ($000) $1,276 Shares 3,149 Est. Cost $389.16 Unrealized -6.3%

ABBV ABBVIE INC 0.1%

Value ($000) $1,273 Shares 5,500 Est. Cost $201.95 Unrealized +12.7%

QQQ INVESCO QQQ TR 0.1%

Value ($000) $1,261 Shares 2,100 Est. Cost $551.64 Unrealized —

MSFT MICROSOFT CORP 0.1%

Value ($000) $1,154 Shares 2,228 Est. Cost $432.38 Unrealized +15.8%

HD HOME DEPOT INC 0.0%

Value ($000) $851 Shares 2,100 Est. Cost $389.16 Unrealized -6.3%

MSFT MICROSOFT CORP 0.0%

Value ($000) $725 Shares 1,400 Est. Cost $432.38 Unrealized +15.8%

CAT CATERPILLAR INC 0.0%

Value ($000) $668 Shares 1,400 Est. Cost $375.82 Unrealized +47.8%

ANET ARISTA NETWORKS INC 0.0%

Value ($000) $639 Shares 4,387 Est. Cost $128.77 Unrealized +6.9%

IBIT ISHARES BITCOIN TRUST ETF 0.0%

Value ($000) $574 Shares 8,838 Est. Cost $61.21 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.0%

Value ($000) $557 Shares 700 Est. Cost $743.62 Unrealized +9.4%

UNH UNITEDHEALTH GROUP INC 0.0%

Value ($000) $483 Shares 1,400 Est. Cost — Unrealized —

INTC INTEL CORP 0.0%

Value ($000) $415 Shares 12,355 Est. Cost $24.23 Unrealized +55.9%

ORCL ORACLE CORP 0.0%

Value ($000) $394 Shares 1,400 Est. Cost — Unrealized —

APH AMPHENOL CORP NEW 0.0%

Value ($000) $384 Shares 3,100 Est. Cost $109.40 Unrealized +22.1%

JPM JPMORGAN CHASE & CO. 0.0%

Value ($000) $379 Shares 1,200 Est. Cost $287.93 Unrealized +7.5%

XOM EXXON MOBIL CORP 0.0%

Value ($000) $372 Shares 3,300 Est. Cost $114.75 Unrealized +0.6%

ANET ARISTA NETWORKS INC 0.0%

Value ($000) $350 Shares 2,900 Est. Cost $128.77 Unrealized +6.9%

PFE PFIZER INC 0.0%

Value ($000) $316 Shares 12,383 Est. Cost $24.14 Unrealized +3.7%

ISRG INTUITIVE SURGICAL INC 0.0%

Value ($000) $313 Shares 700 Est. Cost $532.37 Unrealized 0.0%

APH AMPHENOL CORP NEW 0.0%

Value ($000) $309 Shares 2,500 Est. Cost $109.40 Unrealized +22.1%

GEV GE VERNOVA INC 0.0%

Value ($000) $307 Shares 500 Est. Cost $605.52 Unrealized +0.6%

HON HONEYWELL INTL INC 0.0%

Value ($000) $295 Shares 1,400 Est. Cost — Unrealized —

WELL WELLTOWER INC 0.0%

Value ($000) $290 Shares 1,628 Est. Cost $163.41 Unrealized +14.1%

KO COCA COLA CO 0.0%

Value ($000) $265 Shares 4,000 Est. Cost — Unrealized —

INTC INTEL CORP 0.0%

Value ($000) $262 Shares 7,800 Est. Cost $24.23 Unrealized +55.9%

AMT AMERICAN TOWER CORP NEW 0.0%

Value ($000) $250 Shares 1,300 Est. Cost — Unrealized —

ACN ACCENTURE PLC IRELAND 0.0%

Value ($000) $247 Shares 1,000 Est. Cost — Unrealized —

V VISA INC 0.0%

Value ($000) $239 Shares 700 Est. Cost $340.38 Unrealized 0.0%

TXN TEXAS INSTRS INC 0.0%

Value ($000) $239 Shares 1,300 Est. Cost — Unrealized —

DE DEERE & CO 0.0%

Value ($000) $229 Shares 500 Est. Cost — Unrealized —

PLD PROLOGIS INC. 0.0%

Value ($000) $221 Shares 1,934 Est. Cost $108.29 Unrealized +14.4%

FISV FISERV INC 0.0%

Value ($000) $206 Shares 1,600 Est. Cost — Unrealized —

AMGN AMGEN INC 0.0%

Value ($000) $198 Shares 700 Est. Cost — Unrealized —

BX BLACKSTONE INC 0.0%

Value ($000) $188 Shares 1,100 Est. Cost $135.11 Unrealized +12.1%

PEP PEPSICO INC 0.0%

Value ($000) $183 Shares 1,304 Est. Cost $134.74 Unrealized +8.3%

GEV GE VERNOVA INC 0.0%

Value ($000) $181 Shares 295 Est. Cost $605.52 Unrealized +0.6%

BAC BANK AMERICA CORP 0.0%

Value ($000) $165 Shares 3,200 Est. Cost $48.34 Unrealized +8.9%

MDT MEDTRONIC PLC 0.0%

Value ($000) $160 Shares 1,681 Est. Cost $91.27 Unrealized +6.4%

LLY ELI LILLY & CO 0.0%

Value ($000) $153 Shares 200 Est. Cost $935.04 Unrealized +2.2%

LOW LOWES COS INC 0.0%

Value ($000) $151 Shares 600 Est. Cost $244.20 Unrealized -1.8%

LOW LOWES COS INC 0.0%

Value ($000) $151 Shares 599 Est. Cost $244.20 Unrealized -1.8%

IBM INTERNATIONAL BUSINESS MACHS 0.0%

Value ($000) $144 Shares 509 Est. Cost $259.55 Unrealized +15.1%

BX BLACKSTONE INC 0.0%

Value ($000) $124 Shares 725 Est. Cost $135.11 Unrealized +12.1%

IBM INTERNATIONAL BUSINESS MACHS 0.0%

Value ($000) $113 Shares 400 Est. Cost $259.55 Unrealized +15.1%

XOM EXXON MOBIL CORP 0.0%

Value ($000) $113 Shares 1,000 Est. Cost $114.75 Unrealized +0.6%

UNH UNITEDHEALTH GROUP INC 0.0%

Value ($000) $104 Shares 300 Est. Cost — Unrealized —

MDT MEDTRONIC PLC 0.0%

Value ($000) $95 Shares 1,000 Est. Cost $91.27 Unrealized +6.4%

GOOG ALPHABET INC 0.0%

Value ($000) $73 Shares 300 Est. Cost $237.68 Unrealized +20.5%

PEP PEPSICO INC 0.0%

Value ($000) $70 Shares 500 Est. Cost $134.74 Unrealized +8.3%

JPM JPMORGAN CHASE & CO. 0.0%

Value ($000) $63 Shares 200 Est. Cost $287.93 Unrealized +7.5%

BAC BANK AMERICA CORP 0.0%

Value ($000) $57 Shares 1,100 Est. Cost $48.34 Unrealized +8.9%

ORCL ORACLE CORP 0.0%

Value ($000) $56 Shares 200 Est. Cost — Unrealized —

ACN ACCENTURE PLC IRELAND 0.0%

Value ($000) $49 Shares 200 Est. Cost — Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.0%

Value ($000) $49 Shares 100 Est. Cost $512.95 Unrealized +10.2%

PLD PROLOGIS INC. 0.0%

Value ($000) $46 Shares 400 Est. Cost $108.29 Unrealized +14.4%

PFE PFIZER INC 0.0%

Value ($000) $33 Shares 1,300 Est. Cost $24.14 Unrealized +3.7%

AMGN AMGEN INC 0.0%

Value ($000) $28 Shares 100 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	68,350	$17,404	0.9%	$222.21	+20.8%	—	037833100
AVGO	BROADCOM INC	8,300	$2,738	0.1%	$266.72	+33.8%	PUT	11135F101
QQQ	INVESCO QQQ TR	3,402	$2,042	0.1%	$551.64	—	—	46090E103
AVGO	BROADCOM INC	3,971	$1,310	0.1%	$266.72	+33.8%	—	11135F101
HD	HOME DEPOT INC	3,149	$1,276	0.1%	$389.16	-6.3%	—	437076102
ABBV	ABBVIE INC	5,500	$1,273	0.1%	$201.95	+12.7%	PUT	00287Y109
QQQ	INVESCO QQQ TR	2,100	$1,261	0.1%	$551.64	—	CALL	46090E103
MSFT	MICROSOFT CORP	2,228	$1,154	0.1%	$432.38	+15.8%	—	594918104
HD	HOME DEPOT INC	2,100	$851	0.0%	$389.16	-6.3%	PUT	437076102
MSFT	MICROSOFT CORP	1,400	$725	0.0%	$432.38	+15.8%	PUT	594918104
CAT	CATERPILLAR INC	1,400	$668	0.0%	$375.82	+47.8%	—	149123101
ANET	ARISTA NETWORKS INC	4,387	$639	0.0%	$128.77	+6.9%	—	040413205
IBIT	ISHARES BITCOIN TRUST ETF	8,838	$574	0.0%	$61.21	—	—	46438F101
GS	GOLDMAN SACHS GROUP INC	700	$557	0.0%	$743.62	+9.4%	PUT	38141G104
UNH	UNITEDHEALTH GROUP INC	1,400	$483	0.0%	—	—	CALL	91324P102
INTC	INTEL CORP	12,355	$415	0.0%	$24.23	+55.9%	—	458140100
ORCL	ORACLE CORP	1,400	$394	0.0%	—	—	PUT	68389X105
APH	AMPHENOL CORP NEW	3,100	$384	0.0%	$109.40	+22.1%	—	032095101
JPM	JPMORGAN CHASE & CO.	1,200	$379	0.0%	$287.93	+7.5%	PUT	46625H100
XOM	EXXON MOBIL CORP	3,300	$372	0.0%	$114.75	+0.6%	PUT	30231G102
ANET	ARISTA NETWORKS INC	2,900	$350	0.0%	$128.77	+6.9%	PUT	040413205
PFE	PFIZER INC	12,383	$316	0.0%	$24.14	+3.7%	—	717081103
ISRG	INTUITIVE SURGICAL INC	700	$313	0.0%	$532.37	0.0%	CALL	46120E602
APH	AMPHENOL CORP NEW	2,500	$309	0.0%	$109.40	+22.1%	PUT	032095101
GEV	GE VERNOVA INC	500	$307	0.0%	$605.52	+0.6%	PUT	36828A101
HON	HONEYWELL INTL INC	1,400	$295	0.0%	—	—	CALL	438516106
WELL	WELLTOWER INC	1,628	$290	0.0%	$163.41	+14.1%	—	95040Q104
KO	COCA COLA CO	4,000	$265	0.0%	—	—	CALL	191216100
INTC	INTEL CORP	7,800	$262	0.0%	$24.23	+55.9%	PUT	458140100
AMT	AMERICAN TOWER CORP NEW	1,300	$250	0.0%	—	—	CALL	03027X100
ACN	ACCENTURE PLC IRELAND	1,000	$247	0.0%	—	—	CALL	G1151C101
V	VISA INC	700	$239	0.0%	$340.38	0.0%	CALL	92826C839
TXN	TEXAS INSTRS INC	1,300	$239	0.0%	—	—	CALL	882508104
DE	DEERE & CO	500	$229	0.0%	—	—	CALL	244199105
PLD	PROLOGIS INC.	1,934	$221	0.0%	$108.29	+14.4%	—	74340W103
FISV	FISERV INC	1,600	$206	0.0%	—	—	CALL	337738108
AMGN	AMGEN INC	700	$198	0.0%	—	—	CALL	031162100
BX	BLACKSTONE INC	1,100	$188	0.0%	$135.11	+12.1%	PUT	09260D107
PEP	PEPSICO INC	1,304	$183	0.0%	$134.74	+8.3%	—	713448108
GEV	GE VERNOVA INC	295	$181	0.0%	$605.52	+0.6%	—	36828A101
BAC	BANK AMERICA CORP	3,200	$165	0.0%	$48.34	+8.9%	PUT	060505104
MDT	MEDTRONIC PLC	1,681	$160	0.0%	$91.27	+6.4%	—	G5960L103
LLY	ELI LILLY & CO	200	$153	0.0%	$935.04	+2.2%	CALL	532457108
LOW	LOWES COS INC	600	$151	0.0%	$244.20	-1.8%	PUT	548661107
LOW	LOWES COS INC	599	$151	0.0%	$244.20	-1.8%	—	548661107
IBM	INTERNATIONAL BUSINESS MACHS	509	$144	0.0%	$259.55	+15.1%	—	459200101
BX	BLACKSTONE INC	725	$124	0.0%	$135.11	+12.1%	—	09260D107
IBM	INTERNATIONAL BUSINESS MACHS	400	$113	0.0%	$259.55	+15.1%	PUT	459200101
XOM	EXXON MOBIL CORP	1,000	$113	0.0%	$114.75	+0.6%	CALL	30231G102
UNH	UNITEDHEALTH GROUP INC	300	$104	0.0%	—	—	PUT	91324P102
MDT	MEDTRONIC PLC	1,000	$95	0.0%	$91.27	+6.4%	PUT	G5960L103
GOOG	ALPHABET INC	300	$73	0.0%	$237.68	+20.5%	CALL	02079K107
PEP	PEPSICO INC	500	$70	0.0%	$134.74	+8.3%	PUT	713448108
JPM	JPMORGAN CHASE & CO.	200	$63	0.0%	$287.93	+7.5%	CALL	46625H100
BAC	BANK AMERICA CORP	1,100	$57	0.0%	$48.34	+8.9%	CALL	060505104
ORCL	ORACLE CORP	200	$56	0.0%	—	—	CALL	68389X105
ACN	ACCENTURE PLC IRELAND	200	$49	0.0%	—	—	PUT	G1151C101
TMO	THERMO FISHER SCIENTIFIC INC	100	$49	0.0%	$512.95	+10.2%	PUT	883556102
PLD	PROLOGIS INC.	400	$46	0.0%	$108.29	+14.4%	PUT	74340W103
PFE	PFIZER INC	1,300	$33	0.0%	$24.14	+3.7%	PUT	717081103
AMGN	AMGEN INC	100	$28	0.0%	—	—	PUT	031162100

Decreased Positions (21)

SPY SPDR S&P 500 ETF TR 0.8%

Value ($000) $15,684 (-74.4%) Shares 23,000 (-75.0%) Est. Cost — Unrealized —

AAPL APPLE INC 0.0%

Value ($000) $408 (-95.7%) Shares 1,500 (-95.9%) Est. Cost $222.21 Unrealized +20.8%

NVDA NVIDIA CORPORATION 0.5%

Value ($000) $9,644 (-26.6%) Shares 51,710 (-26.5%) Est. Cost $160.58 Unrealized +15.9%

PLTR PALANTIR TECHNOLOGIES INC 0.1%

Value ($000) $2,177 (-47.3%) Shares 12,247 (-45.9%) Est. Cost $121.55 Unrealized +48.9%

ABBV ABBVIE INC 0.0%

Value ($000) $869 (-69.0%) Shares 3,805 (-68.6%) Est. Cost $201.95 Unrealized +12.7%

JNJ JOHNSON & JOHNSON 0.0%

Value ($000) $600 (-62.4%) Shares 2,900 (-66.3%) Est. Cost $169.51 Unrealized +16.2%

WMT WALMART INC 0.0%

Value ($000) $10 (-99.0%) Shares 89 (-99.1%) Est. Cost $96.88 Unrealized +10.7%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value ($000) $540 (-63.5%) Shares 1,075 (-63.5%) Est. Cost $484.36 Unrealized +2.7%

JNJ JOHNSON & JOHNSON 0.1%

Value ($000) $2,112 (-30.1%) Shares 10,204 (-37.4%) Est. Cost $169.51 Unrealized +16.2%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value ($000) $302 (-57.2%) Shares 600 (-57.1%) Est. Cost $484.36 Unrealized +2.7%

MSFT MICROSOFT CORP 0.1%

Value ($000) $1,934 (-17.0%) Shares 4,000 (-11.1%) Est. Cost $432.38 Unrealized +15.8%

TJX TJX COS INC NEW 0.0%

Value ($000) $92 (-77.2%) Shares 600 (-78.6%) Est. Cost $132.28 Unrealized +11.7%

TJX TJX COS INC NEW 0.0%

Value ($000) $109 (-73.0%) Shares 708 (-74.6%) Est. Cost $132.28 Unrealized +11.7%

MS MORGAN STANLEY 0.0%

Value ($000) $18 (-93.4%) Shares 100 (-94.1%) Est. Cost $146.45 Unrealized +13.7%

BAC BANK AMERICA CORP 0.0%

Value ($000) $426 (-32.6%) Shares 7,745 (-36.8%) Est. Cost $48.34 Unrealized +8.9%

WMT WALMART INC 0.0%

Value ($000) $201 (-39.2%) Shares 1,800 (-43.8%) Est. Cost $96.88 Unrealized +10.7%

META META PLATFORMS INC 0.0%

Value ($000) $462 (-21.4%) Shares 700 (-12.5%) Est. Cost $667.32 Unrealized 0.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value ($000) $50 (-66.7%) Shares 100 (-66.7%) Est. Cost $484.36 Unrealized +2.7%

WFC WELLS FARGO CO NEW 0.0%

Value ($000) $149 (-36.5%) Shares 1,600 (-42.9%) Est. Cost $84.38 Unrealized +2.7%

MS MORGAN STANLEY 0.0%

Value ($000) $683 (+8.7%) Shares 3,845 (-2.7%) Est. Cost $146.45 Unrealized +13.7%

CAT CATERPILLAR INC 0.0%

Value ($000) $458 (-4.0%) Shares 800 (-20.0%) Est. Cost $375.82 Unrealized +47.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	23,000 (-75.0%)	$15,684 (-74.4%)	0.8%	—	—	PUT	78462F103
AAPL	APPLE INC	1,500 (-95.9%)	$408 (-95.7%)	0.0%	$222.21	+20.8%	PUT	037833100
NVDA	NVIDIA CORPORATION	51,710 (-26.5%)	$9,644 (-26.6%)	0.5%	$160.58	+15.9%	COM	67066G104
PLTR	PALANTIR TECHNOLOGIES INC	12,247 (-45.9%)	$2,177 (-47.3%)	0.1%	$121.55	+48.9%	CL A	69608A108
ABBV	ABBVIE INC	3,805 (-68.6%)	$869 (-69.0%)	0.0%	$201.95	+12.7%	COM	00287Y109
JNJ	JOHNSON & JOHNSON	2,900 (-66.3%)	$600 (-62.4%)	0.0%	$169.51	+16.2%	PUT	478160104
WMT	WALMART INC	89 (-99.1%)	$10 (-99.0%)	0.0%	$96.88	+10.7%	COM	931142103
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,075 (-63.5%)	$540 (-63.5%)	0.0%	$484.36	+2.7%	CL B NEW	084670702
JNJ	JOHNSON & JOHNSON	10,204 (-37.4%)	$2,112 (-30.1%)	0.1%	$169.51	+16.2%	COM	478160104
BRK/B	BERKSHIRE HATHAWAY INC DEL	600 (-57.1%)	$302 (-57.2%)	0.0%	$484.36	+2.7%	PUT	084670702
MSFT	MICROSOFT CORP	4,000 (-11.1%)	$1,934 (-17.0%)	0.1%	$432.38	+15.8%	CALL	594918104
TJX	TJX COS INC NEW	600 (-78.6%)	$92 (-77.2%)	0.0%	$132.28	+11.7%	PUT	872540109
TJX	TJX COS INC NEW	708 (-74.6%)	$109 (-73.0%)	0.0%	$132.28	+11.7%	COM	872540109
MS	MORGAN STANLEY	100 (-94.1%)	$18 (-93.4%)	0.0%	$146.45	+13.7%	PUT	617446448
BAC	BANK AMERICA CORP	7,745 (-36.8%)	$426 (-32.6%)	0.0%	$48.34	+8.9%	COM	060505104
WMT	WALMART INC	1,800 (-43.8%)	$201 (-39.2%)	0.0%	$96.88	+10.7%	PUT	931142103
META	META PLATFORMS INC	700 (-12.5%)	$462 (-21.4%)	0.0%	$667.32	0.0%	CALL	30303M102
BRK/B	BERKSHIRE HATHAWAY INC DEL	100 (-66.7%)	$50 (-66.7%)	0.0%	$484.36	+2.7%	CALL	084670702
WFC	WELLS FARGO CO NEW	1,600 (-42.9%)	$149 (-36.5%)	0.0%	$84.38	+2.7%	PUT	949746101
MS	MORGAN STANLEY	3,845 (-2.7%)	$683 (+8.7%)	0.0%	$146.45	+13.7%	COM NEW	617446448
CAT	CATERPILLAR INC	800 (-20.0%)	$458 (-4.0%)	0.0%	$375.82	+47.8%	PUT	149123101

Unchanged Positions (1)

KWEB KRANESHARES TRUST 0.1%

Value ($000) $1,703 Shares 50,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KWEB	KRANESHARES TRUST	50,000	$1,703	0.1%	—	—	PUT	500767306