Capital Markets Trading UK LLP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	CISCO SYS INC	229,700	$18	0.3%	—	—	PUT	17275R952
—	ALIBABA GROUP HLDG LTD	55,000	$8	0.1%	—	—	PUT	01609W952
—	ALIBABA GROUP HLDG LTD	45,000	$7	0.1%	—	—	CALL	01609W902
—	THE TRADE DESK INC	160,000	$6	0.1%	—	—	PUT	88339J955
—	ROYAL CARIBBEAN GROUP	19,900	$6	0.1%	—	—	PUT	V7780T953
—	BLACKSTONE INC	31,400	$5	0.1%	—	—	PUT	09260D957
AAL	AMERICAN AIRLS GROUP INC	177,001	$3	0.0%	$13.49	0.0%	—	02376R102
—	KLA CORP	2,000	$2	0.0%	—	—	PUT	482480950
—	BLACKSTONE INC	15,600	$2	0.0%	—	—	CALL	09260D907
—	MERCADOLIBRE INC	1,000	$2	0.0%	—	—	CALL	58733R902
—	THE TRADE DESK INC	49,600	$2	0.0%	—	—	CALL	88339J905
—	KLA CORP	1,500	$2	0.0%	—	—	CALL	482480900
—	MERCADOLIBRE INC	800	$2	0.0%	—	—	PUT	58733R952
V	VISA INC	3,787	$1	0.0%	$340.38	0.0%	—	92826C839
—	TEXAS INSTRS INC	7,500	$1	0.0%	—	—	PUT	882508954
—	SYNOPSYS INC	2,500	$1	0.0%	—	—	CALL	871607907
—	GE VERNOVA INC	1,500	$1	0.0%	—	—	PUT	36828A951
KWEB	KRANESHARES TRUST	26,248	$1	0.0%	$0.03	—	—	500767306
FSLR	FIRST SOLAR INC	3,230	$1	0.0%	$252.20	0.0%	—	336433107
LI	LI AUTO INC	49,563	$1	0.0%	$0.02	—	—	50202M102
—	VISTRA CORP	5,100	$1	0.0%	—	—	CALL	92840M902
ASML	ASML HOLDING N V	735	$1	0.0%	$1.07	—	—	N07059210
GOOGL	ALPHABET INC	2,160	$1	0.0%	$285.60	0.0%	—	02079K305
DIS	DISNEY WALT CO	5,787	$1	0.0%	$109.53	0.0%	—	254687106
MRVL	MARVELL TECHNOLOGY INC	7,659	$1	0.0%	$87.46	0.0%	—	573874104
MELI	MERCADOLIBRE INC	264	$1	0.0%	$2100.46	0.0%	—	58733R102
VST	VISTRA CORP	3,052	$0	0.0%	$181.92	0.0%	—	92840M102
XLE	SELECT SECTOR SPDR TR	9,937	$0	0.0%	$0.04	—	—	81369Y506
—	APOLLO GLOBAL MGMT INC	2,700	$0	0.0%	—	—	CALL	03769M906
TSM	TAIWAN SEMICONDUCTOR MFG LTD	1,267	$0	0.0%	$0.30	—	—	874039100
PDD	PDD HOLDINGS INC	3,250	$0	0.0%	$0.11	—	—	722304102
CVX	CHEVRON CORP NEW	2,414	$0	0.0%	$151.40	0.0%	—	166764100
—	APOLLO GLOBAL MGMT INC	2,500	$0	0.0%	—	—	PUT	03769M956
PYPL	PAYPAL HLDGS INC	5,321	$0	0.0%	$64.84	0.0%	—	70450Y103
—	ITAU UNIBANCO HLDG S A	37,900	$0	0.0%	—	—	PUT	465562956
HOOD	ROBINHOOD MKTS INC	2,093	$0	0.0%	$130.05	0.0%	—	770700102
GM	GENERAL MTRS CO	2,852	$0	0.0%	$70.40	0.0%	—	37045V100
GLD	SPDR GOLD TR	555	$0	0.0%	$0.40	—	—	78463V107
LULU	LULULEMON ATHLETICA INC	996	$0	0.0%	$181.15	0.0%	—	550021109
—	OCCIDENTAL PETE CORP	5,000	$0	0.0%	—	—	CALL	674599905
—	CVS HEALTH CORP	2,500	$0	0.0%	—	—	PUT	126650950
—	ISHARES ETHEREUM TR	8,100	$0	0.0%	—	—	PUT	46438R955
—	AT&T INC	6,500	$0	0.0%	—	—	PUT	00206R952
—	LUCID GROUP INC	112,070	$0	0.0%	—	—	CALL	549498902
—	CVS HEALTH CORP	1,000	$0	0.0%	—	—	CALL	126650900
—	MOBILEYE GLOBAL INC	5,000	$0	0.0%	—	—	CALL	60741F904
—	LUCID GROUP INC	40,650	$0	0.0%	—	—	PUT	549498952
—	ITAU UNIBANCO HLDG S A	100	$0	0.0%	—	—	CALL	465562906

Increased Positions (122)

— ADVANCED MICRO DEVICES INC 2.8%

Value ($000) $188 (+108.7%) Shares 878,900 (+57.7%) Est. Cost — Unrealized —

— CATERPILLAR INC 1.2%

Value ($000) $83 (+709.7%) Shares 145,000 (+574.4%) Est. Cost — Unrealized —

— AMAZON COM INC 1.9%

Value ($000) $132 (+113.8%) Shares 571,400 (+103.3%) Est. Cost — Unrealized —

— ISHARES INC 1.3%

Value ($000) $91 (+149.1%) Shares 2,877,100 (+143.1%) Est. Cost — Unrealized —

— INTEL CORP 2.5%

Value ($000) $167 (+47.8%) Shares 4,512,500 (+34.4%) Est. Cost — Unrealized —

— VANECK ETF TRUST 2.2%

Value ($000) $151 (+46.1%) Shares 1,765,700 (+30.1%) Est. Cost — Unrealized —

— MICRON TECHNOLOGY INC 1.5%

Value ($000) $102 (+84.2%) Shares 358,200 (+8.0%) Est. Cost — Unrealized —

— ORACLE CORP 0.7%

Value ($000) $50 (+636.5%) Shares 254,000 (+962.8%) Est. Cost — Unrealized —

— TESLA INC 1.1%

Value ($000) $75 (+99.5%) Shares 166,300 (+97.3%) Est. Cost — Unrealized —

— CATERPILLAR INC 1.0%

Value ($000) $67 (+98.7%) Shares 116,700 (+65.5%) Est. Cost — Unrealized —

— UNITEDHEALTH GROUP INC 0.6%

Value ($000) $38 (+549.9%) Shares 114,200 (+579.8%) Est. Cost — Unrealized —

— PDD HOLDINGS INC 0.9%

Value ($000) $59 (+116.8%) Shares 521,800 (+152.7%) Est. Cost — Unrealized —

— TAIWAN SEMICONDUCTOR MFG LTD 2.6%

Value ($000) $175 (+22.1%) Shares 577,200 (+12.2%) Est. Cost — Unrealized —

— ISHARES INC 0.7%

Value ($000) $51 (+128.8%) Shares 1,591,100 (+123.3%) Est. Cost — Unrealized —

— NIO INC 1.0%

Value ($000) $68 (-27.6%) Shares 13,389,200 (+8.2%) Est. Cost — Unrealized —

— FREEPORT-MCMORAN INC 0.6%

Value ($000) $44 (+134.7%) Shares 859,200 (+81.3%) Est. Cost — Unrealized —

— ALPHABET INC 1.2%

Value ($000) $81 (+38.4%) Shares 259,400 (+7.5%) Est. Cost — Unrealized —

— AMAZON COM INC 1.7%

Value ($000) $115 (+23.6%) Shares 499,400 (+17.6%) Est. Cost — Unrealized —

— UNITEDHEALTH GROUP INC 0.6%

Value ($000) $38 (+131.4%) Shares 115,700 (+142.1%) Est. Cost — Unrealized —

— ORACLE CORP 0.5%

Value ($000) $36 (+153.7%) Shares 183,400 (+266.1%) Est. Cost — Unrealized —

— CISCO SYS INC 0.4%

Value ($000) $28 (+336.5%) Shares 359,400 (+287.7%) Est. Cost — Unrealized —

— PALO ALTO NETWORKS INC 0.3%

Value ($000) $23 (+447.1%) Shares 125,200 (+504.8%) Est. Cost — Unrealized —

— INTEL CORP 1.5%

Value ($000) $102 (+22.5%) Shares 2,769,600 (+11.4%) Est. Cost — Unrealized —

— UNITED AIRLS HLDGS INC 0.6%

Value ($000) $40 (+84.6%) Shares 357,400 (+59.3%) Est. Cost — Unrealized —

— NETFLIX INC 0.5%

Value ($000) $33 (-34.7%) Shares 349,200 (+735.4%) Est. Cost — Unrealized —

— BOEING CO 0.6%

Value ($000) $43 (+64.0%) Shares 197,600 (+63.0%) Est. Cost — Unrealized —

— LULULEMON ATHLETICA INC 0.6%

Value ($000) $38 (+68.4%) Shares 182,400 (+44.2%) Est. Cost — Unrealized —

— KRANESHARES TRUST 0.4%

Value ($000) $26 (+92.9%) Shares 757,400 (+138.0%) Est. Cost — Unrealized —

— PAYPAL HLDGS INC 0.4%

Value ($000) $25 (+98.6%) Shares 427,300 (+128.1%) Est. Cost — Unrealized —

— SHOPIFY INC 1.0%

Value ($000) $71 (+20.6%) Shares 438,800 (+11.4%) Est. Cost — Unrealized —

— UNITED AIRLS HLDGS INC 0.5%

Value ($000) $32 (+59.5%) Shares 286,000 (+37.6%) Est. Cost — Unrealized —

— TEVA PHARMACEUTICAL INDS LTD 0.3%

Value ($000) $21 (+123.1%) Shares 685,300 (+44.4%) Est. Cost — Unrealized —

— FORD MTR CO 0.6%

Value ($000) $42 (+36.9%) Shares 3,224,600 (+24.8%) Est. Cost — Unrealized —

— DELTA AIR LINES INC DEL 0.4%

Value ($000) $30 (+49.1%) Shares 438,900 (+21.9%) Est. Cost — Unrealized —

— SOFI TECHNOLOGIES INC 0.3%

Value ($000) $22 (+81.1%) Shares 849,200 (+82.7%) Est. Cost — Unrealized —

— AFFIRM HLDGS INC 0.2%

Value ($000) $11 (+825.4%) Shares 142,600 (+808.3%) Est. Cost — Unrealized —

— INTERNATIONAL BUSINESS MACHS 0.3%

Value ($000) $18 (+95.3%) Shares 59,900 (+86.0%) Est. Cost — Unrealized —

— NEWMONT CORP 0.4%

Value ($000) $28 (+43.7%) Shares 283,200 (+21.3%) Est. Cost — Unrealized —

— BARRICK MNG CORP 0.2%

Value ($000) $10 (+481.3%) Shares 234,400 (+337.3%) Est. Cost — Unrealized —

— SOFI TECHNOLOGIES INC 0.2%

Value ($000) $15 (+118.0%) Shares 586,600 (+120.0%) Est. Cost — Unrealized —

— NEWMONT CORP 0.2%

Value ($000) $15 (+107.0%) Shares 147,700 (+74.8%) Est. Cost — Unrealized —

— AIRBNB INC 0.3%

Value ($000) $19 (+62.8%) Shares 137,900 (+45.6%) Est. Cost — Unrealized —

— SALESFORCE INC 0.5%

Value ($000) $35 (+26.0%) Shares 131,200 (+12.7%) Est. Cost — Unrealized —

— CHEVRON CORP NEW 0.2%

Value ($000) $17 (+68.0%) Shares 109,400 (+71.2%) Est. Cost — Unrealized —

— AMERICAN AIRLS GROUP INC 0.3%

Value ($000) $20 (+49.1%) Shares 1,330,800 (+9.4%) Est. Cost — Unrealized —

— AIRBNB INC 0.6%

Value ($000) $42 (+19.1%) Shares 306,400 (+6.6%) Est. Cost — Unrealized —

— NETFLIX INC 0.4%

Value ($000) $24 (+35.6%) Shares 258,300 (+1633.6%) Est. Cost — Unrealized —

— PETROLEO BRASILEIRO SA PETRO 0.3%

Value ($000) $19 (+50.1%) Shares 1,589,800 (+60.2%) Est. Cost — Unrealized —

— NIKE INC 0.3%

Value ($000) $22 (+38.5%) Shares 350,400 (+51.6%) Est. Cost — Unrealized —

— VISA INC 0.2%

Value ($000) $11 (+131.7%) Shares 30,900 (+125.5%) Est. Cost — Unrealized —

— ADOBE INC 0.1%

Value ($000) $9 (+236.2%) Shares 24,400 (+238.9%) Est. Cost — Unrealized —

— ARM HOLDINGS PLC 0.6%

Value ($000) $41 (-12.8%) Shares 372,600 (+12.8%) Est. Cost — Unrealized —

GDX VANECK ETF TRUST 0.1%

Value ($000) $7 (+272.7%) Shares 79,519 (+232.1%) Est. Cost $0.08 Unrealized —

— WALMART INC 0.2%

Value ($000) $15 (+47.1%) Shares 139,100 (+36.1%) Est. Cost — Unrealized —

— NORWEGIAN CRUISE LINE HLDG L 0.4%

Value ($000) $24 (+25.7%) Shares 1,072,700 (+38.7%) Est. Cost — Unrealized —

— CROWDSTRIKE HLDGS INC 0.4%

Value ($000) $30 (+17.4%) Shares 64,700 (+22.8%) Est. Cost — Unrealized —

— META PLATFORMS INC 0.9%

Value ($000) $64 (-6.5%) Shares 97,000 (+4.1%) Est. Cost — Unrealized —

— CARNIVAL CORP 0.5%

Value ($000) $32 (+15.5%) Shares 1,038,700 (+9.3%) Est. Cost — Unrealized —

— GENERAL MTRS CO 0.2%

Value ($000) $12 (+54.2%) Shares 147,900 (+15.6%) Est. Cost — Unrealized —

— NIO INC 0.2%

Value ($000) $12 (-25.5%) Shares 2,411,500 (+11.3%) Est. Cost — Unrealized —

TSLA TESLA INC 0.1%

Value ($000) $4 (+882.5%) Shares 9,590 (+871.6%) Est. Cost $428.93 Unrealized +3.3%

— RIVIAN AUTOMOTIVE INC 0.1%

Value ($000) $7 (+127.8%) Shares 347,800 (+69.7%) Est. Cost — Unrealized —

— AST SPACEMOBILE INC 0.1%

Value ($000) $9 (+64.4%) Shares 123,800 (+11.1%) Est. Cost — Unrealized —

— RIVIAN AUTOMOTIVE INC 0.1%

Value ($000) $7 (+82.0%) Shares 362,100 (+35.6%) Est. Cost — Unrealized —

— MASTERCARD INCORPORATED 0.1%

Value ($000) $7 (+89.4%) Shares 11,700 (+88.7%) Est. Cost — Unrealized —

— PALO ALTO NETWORKS INC 0.1%

Value ($000) $5 (+139.4%) Shares 26,200 (+164.6%) Est. Cost — Unrealized —

— NIKE INC 0.4%

Value ($000) $29 (+10.5%) Shares 454,400 (+21.0%) Est. Cost — Unrealized —

— SEA LTD 0.1%

Value ($000) $8 (+51.7%) Shares 60,800 (+112.6%) Est. Cost — Unrealized —

— TWILIO INC 0.1%

Value ($000) $4 (+240.2%) Shares 26,100 (+139.4%) Est. Cost — Unrealized —

— AST SPACEMOBILE INC 0.0%

Value ($000) $3 (+517.2%) Shares 43,000 (+317.5%) Est. Cost — Unrealized —

— SEA LTD 0.1%

Value ($000) $8 (-23.8%) Shares 64,800 (+6.8%) Est. Cost — Unrealized —

— TWILIO INC 0.1%

Value ($000) $6 (+77.6%) Shares 40,500 (+25.0%) Est. Cost — Unrealized —

— SELECT SECTOR SPDR TR 0.1%

Value ($000) $7 (+55.1%) Shares 155,000 (+210.0%) Est. Cost — Unrealized —

PBR PETROLEO BRASILEIRO SA PETRO 0.1%

Value ($000) $5 (+86.3%) Shares 440,351 (+99.0%) Est. Cost $0.02 Unrealized —

— PETROLEO BRASILEIRO SA PETRO 0.3%

Value ($000) $20 (+13.0%) Shares 1,652,300 (+20.6%) Est. Cost — Unrealized —

— NU HLDGS LTD 0.1%

Value ($000) $5 (+68.3%) Shares 326,100 (+61.0%) Est. Cost — Unrealized —

INTC INTEL CORP 0.1%

Value ($000) $5 (+65.6%) Shares 140,194 (+50.6%) Est. Cost $27.50 Unrealized +37.3%

— CITIGROUP INC 0.2%

Value ($000) $13 (+18.1%) Shares 111,500 (+2.8%) Est. Cost — Unrealized —

— LAM RESEARCH CORP 0.1%

Value ($000) $3 (+122.3%) Shares 20,000 (+73.9%) Est. Cost — Unrealized —

— ADOBE INC 0.4%

Value ($000) $25 (+6.4%) Shares 72,800 (+7.2%) Est. Cost — Unrealized —

— CHEVRON CORP NEW 0.1%

Value ($000) $5 (+37.2%) Shares 35,100 (+39.8%) Est. Cost — Unrealized —

— ISHARES TR 0.5%

Value ($000) $31 (+4.7%) Shares 819,100 (+12.5%) Est. Cost — Unrealized —

— NU HLDGS LTD 0.0%

Value ($000) $2 (+161.3%) Shares 125,000 (+150.0%) Est. Cost — Unrealized —

XPEV XPENG INC 0.0%

Value ($000) $2 (+185.1%) Shares 90,823 (+229.1%) Est. Cost $0.02 Unrealized —

— ROBINHOOD MKTS INC 0.2%

Value ($000) $10 (+12.8%) Shares 92,000 (+42.9%) Est. Cost — Unrealized —

— KRANESHARES TRUST 0.2%

Value ($000) $16 (-6.6%) Shares 477,000 (+15.2%) Est. Cost — Unrealized —

EWZ ISHARES INC 0.0%

Value ($000) $3 (+62.3%) Shares 90,299 (+58.3%) Est. Cost $0.03 Unrealized —

— ETSY INC 0.0%

Value ($000) $2 (+86.9%) Shares 42,300 (+123.8%) Est. Cost — Unrealized —

— DELL TECHNOLOGIES INC 0.1%

Value ($000) $4 (+35.0%) Shares 30,700 (+52.0%) Est. Cost — Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.0%

Value ($000) $2 (+81.8%) Shares 54,405 (+96.1%) Est. Cost $41.21 Unrealized -1.8%

— DELL TECHNOLOGIES INC 0.0%

Value ($000) $3 (+36.6%) Shares 25,700 (+53.9%) Est. Cost — Unrealized —

— ROBINHOOD MKTS INC 0.1%

Value ($000) $4 (+26.4%) Shares 36,000 (+60.0%) Est. Cost — Unrealized —

— HOME DEPOT INC 0.2%

Value ($000) $10 (+8.8%) Shares 30,100 (+28.1%) Est. Cost — Unrealized —

— AFFIRM HLDGS INC 0.1%

Value ($000) $10 (+9.5%) Shares 128,900 (+7.5%) Est. Cost — Unrealized —

BA BOEING CO 0.0%

Value ($000) $2 (+70.9%) Shares 8,994 (+69.9%) Est. Cost $199.13 Unrealized +3.3%

AVGO BROADCOM INC 0.1%

Value ($000) $4 (+23.1%) Shares 11,794 (+17.3%) Est. Cost $284.08 Unrealized +25.7%

NFLX NETFLIX INC 0.0%

Value ($000) $0 (-72.7%) Shares 2,957 (+249.9%) Est. Cost $108.74 Unrealized -0.9%

— GRAB HOLDINGS LIMITED 0.0%

Value ($000) $2 (+66.6%) Shares 355,900 (+101.0%) Est. Cost — Unrealized —

— XPENG INC 0.1%

Value ($000) $5 (+16.3%) Shares 231,000 (+34.3%) Est. Cost — Unrealized —

— TAKE-TWO INTERACTIVE SOFTWAR 0.0%

Value ($000) $1 (+74.1%) Shares 5,800 (+75.8%) Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 0.0%

Value ($000) $1 (+149.9%) Shares 1,403 (+144.0%) Est. Cost $0.65 Unrealized —

— ETSY INC 0.0%

Value ($000) $2 (+21.2%) Shares 45,000 (+45.2%) Est. Cost — Unrealized —

AXP AMERICAN EXPRESS CO 0.0%

Value ($000) $1 (+65.7%) Shares 2,875 (+48.8%) Est. Cost $313.63 Unrealized +13.8%

— ON SEMICONDUCTOR CORP 0.0%

Value ($000) $2 (+28.1%) Shares 35,000 (+16.7%) Est. Cost — Unrealized —

— OCCIDENTAL PETE CORP 0.0%

Value ($000) $1 (+35.4%) Shares 35,000 (+55.6%) Est. Cost — Unrealized —

GRAB GRAB HOLDINGS LIMITED 0.0%

Value ($000) $1 (+168.9%) Shares 119,618 (+224.3%) Est. Cost $5.30 Unrealized +4.2%

OXY OCCIDENTAL PETE CORP 0.0%

Value ($000) $1 (+125.6%) Shares 13,723 (+159.4%) Est. Cost $42.78 Unrealized -2.9%

CRWD CROWDSTRIKE HLDGS INC 0.0%

Value ($000) $1 (+87.4%) Shares 1,390 (+96.1%) Est. Cost $481.44 Unrealized +5.8%

— CLOUDFLARE INC 0.0%

Value ($000) $2 (+18.8%) Shares 9,700 (+29.3%) Est. Cost — Unrealized —

— JD.COM INC 0.2%

Value ($000) $14 (-1.8%) Shares 471,600 (+19.7%) Est. Cost — Unrealized —

BEKE KE HLDGS INC 0.0%

Value ($000) $1 (+45.5%) Shares 50,744 (+75.3%) Est. Cost $0.02 Unrealized —

WMT WALMART INC 0.0%

Value ($000) $2 (+11.4%) Shares 18,553 (+3.1%) Est. Cost $87.10 Unrealized +23.1%

DELL DELL TECHNOLOGIES INC 0.0%

Value ($000) $1 (+22.5%) Shares 8,690 (+38.0%) Est. Cost $132.36 Unrealized +6.3%

NIO NIO INC 0.0%

Value ($000) $2 (-10.2%) Shares 344,976 (+34.3%) Est. Cost $0.01 Unrealized —

FXI ISHARES TR 0.0%

Value ($000) $1 (+20.4%) Shares 24,624 (+29.4%) Est. Cost $0.04 Unrealized —

ORCL ORACLE CORP 0.0%

Value ($000) $2 (+8.8%) Shares 7,988 (+57.0%) Est. Cost $248.32 Unrealized -4.1%

ARM ARM HOLDINGS PLC 0.0%

Value ($000) $1 (-15.3%) Shares 5,212 (+9.7%) Est. Cost $0.14 Unrealized —

SE SEA LTD 0.0%

Value ($000) $1 (-10.9%) Shares 5,687 (+24.8%) Est. Cost $0.17 Unrealized —

SMCI SUPER MICRO COMPUTER INC 0.0%

Value ($000) $0 (+37.8%) Shares 10,598 (+126.1%) Est. Cost $44.08 Unrealized -6.6%

JPM JPMORGAN CHASE & CO. 0.0%

Value ($000) $0 (+24.5%) Shares 1,280 (+21.9%) Est. Cost $298.37 Unrealized +3.7%

NCLH NORWEGIAN CRUISE LINE HLDG L 0.0%

Value ($000) $1 (+3.0%) Shares 58,454 (+13.7%) Est. Cost $22.74 Unrealized -7.2%

— SELECT SECTOR SPDR TR 0.1%

Value ($000) $4 (+0.1%) Shares 100,000 (+100.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ADVANCED MICRO DEVICES INC	878,900 (+57.7%)	$188 (+108.7%)	2.8%	—	—	PUT	007903957
—	CATERPILLAR INC	145,000 (+574.4%)	$83 (+709.7%)	1.2%	—	—	PUT	149123951
—	AMAZON COM INC	571,400 (+103.3%)	$132 (+113.8%)	1.9%	—	—	CALL	023135906
—	ISHARES INC	2,877,100 (+143.1%)	$91 (+149.1%)	1.3%	—	—	CALL	464286903
—	INTEL CORP	4,512,500 (+34.4%)	$167 (+47.8%)	2.5%	—	—	PUT	458140950
—	VANECK ETF TRUST	1,765,700 (+30.1%)	$151 (+46.1%)	2.2%	—	—	PUT	92189F956
—	MICRON TECHNOLOGY INC	358,200 (+8.0%)	$102 (+84.2%)	1.5%	—	—	CALL	595112903
—	ORACLE CORP	254,000 (+962.8%)	$50 (+636.5%)	0.7%	—	—	PUT	68389X955
—	TESLA INC	166,300 (+97.3%)	$75 (+99.5%)	1.1%	—	—	CALL	88160R901
—	CATERPILLAR INC	116,700 (+65.5%)	$67 (+98.7%)	1.0%	—	—	CALL	149123901
—	UNITEDHEALTH GROUP INC	114,200 (+579.8%)	$38 (+549.9%)	0.6%	—	—	CALL	91324P902
—	PDD HOLDINGS INC	521,800 (+152.7%)	$59 (+116.8%)	0.9%	—	—	PUT	722304952
—	TAIWAN SEMICONDUCTOR MFG LTD	577,200 (+12.2%)	$175 (+22.1%)	2.6%	—	—	PUT	874039950
—	ISHARES INC	1,591,100 (+123.3%)	$51 (+128.8%)	0.7%	—	—	PUT	464286953
—	NIO INC	13,389,200 (+8.2%)	$68 (-27.6%)	1.0%	—	—	PUT	62914V956
—	FREEPORT-MCMORAN INC	859,200 (+81.3%)	$44 (+134.7%)	0.6%	—	—	CALL	35671D907
—	ALPHABET INC	259,400 (+7.5%)	$81 (+38.4%)	1.2%	—	—	PUT	02079K957
—	AMAZON COM INC	499,400 (+17.6%)	$115 (+23.6%)	1.7%	—	—	PUT	023135956
—	UNITEDHEALTH GROUP INC	115,700 (+142.1%)	$38 (+131.4%)	0.6%	—	—	PUT	91324P952
—	ORACLE CORP	183,400 (+266.1%)	$36 (+153.7%)	0.5%	—	—	CALL	68389X905
—	CISCO SYS INC	359,400 (+287.7%)	$28 (+336.5%)	0.4%	—	—	CALL	17275R902
—	PALO ALTO NETWORKS INC	125,200 (+504.8%)	$23 (+447.1%)	0.3%	—	—	PUT	697435955
—	INTEL CORP	2,769,600 (+11.4%)	$102 (+22.5%)	1.5%	—	—	CALL	458140900
—	UNITED AIRLS HLDGS INC	357,400 (+59.3%)	$40 (+84.6%)	0.6%	—	—	PUT	910047959
—	NETFLIX INC	349,200 (+735.4%)	$33 (-34.7%)	0.5%	—	—	PUT	64110L956
—	BOEING CO	197,600 (+63.0%)	$43 (+64.0%)	0.6%	—	—	CALL	097023905
—	LULULEMON ATHLETICA INC	182,400 (+44.2%)	$38 (+68.4%)	0.6%	—	—	CALL	550021909
—	KRANESHARES TRUST	757,400 (+138.0%)	$26 (+92.9%)	0.4%	—	—	PUT	500767951
—	PAYPAL HLDGS INC	427,300 (+128.1%)	$25 (+98.6%)	0.4%	—	—	PUT	70450Y953
—	SHOPIFY INC	438,800 (+11.4%)	$71 (+20.6%)	1.0%	—	—	PUT	82509L957
—	UNITED AIRLS HLDGS INC	286,000 (+37.6%)	$32 (+59.5%)	0.5%	—	—	CALL	910047909
—	TEVA PHARMACEUTICAL INDS LTD	685,300 (+44.4%)	$21 (+123.1%)	0.3%	—	—	PUT	881624959
—	FORD MTR CO	3,224,600 (+24.8%)	$42 (+36.9%)	0.6%	—	—	PUT	345370950
—	DELTA AIR LINES INC DEL	438,900 (+21.9%)	$30 (+49.1%)	0.4%	—	—	CALL	247361902
—	SOFI TECHNOLOGIES INC	849,200 (+82.7%)	$22 (+81.1%)	0.3%	—	—	PUT	83406F952
—	AFFIRM HLDGS INC	142,600 (+808.3%)	$11 (+825.4%)	0.2%	—	—	CALL	00827B906
—	INTERNATIONAL BUSINESS MACHS	59,900 (+86.0%)	$18 (+95.3%)	0.3%	—	—	PUT	459200951
—	NEWMONT CORP	283,200 (+21.3%)	$28 (+43.7%)	0.4%	—	—	CALL	651639906
—	BARRICK MNG CORP	234,400 (+337.3%)	$10 (+481.3%)	0.2%	—	—	PUT	06849F958
—	SOFI TECHNOLOGIES INC	586,600 (+120.0%)	$15 (+118.0%)	0.2%	—	—	CALL	83406F902
—	NEWMONT CORP	147,700 (+74.8%)	$15 (+107.0%)	0.2%	—	—	PUT	651639956
—	AIRBNB INC	137,900 (+45.6%)	$19 (+62.8%)	0.3%	—	—	PUT	009066951
—	SALESFORCE INC	131,200 (+12.7%)	$35 (+26.0%)	0.5%	—	—	CALL	79466L902
—	CHEVRON CORP NEW	109,400 (+71.2%)	$17 (+68.0%)	0.2%	—	—	CALL	166764900
—	AMERICAN AIRLS GROUP INC	1,330,800 (+9.4%)	$20 (+49.1%)	0.3%	—	—	CALL	02376R902
—	AIRBNB INC	306,400 (+6.6%)	$42 (+19.1%)	0.6%	—	—	CALL	009066901
—	NETFLIX INC	258,300 (+1633.6%)	$24 (+35.6%)	0.4%	—	—	CALL	64110L906
—	PETROLEO BRASILEIRO SA PETRO	1,589,800 (+60.2%)	$19 (+50.1%)	0.3%	—	—	CALL	71654V901
—	NIKE INC	350,400 (+51.6%)	$22 (+38.5%)	0.3%	—	—	CALL	654106903
—	VISA INC	30,900 (+125.5%)	$11 (+131.7%)	0.2%	—	—	PUT	92826C959
—	ADOBE INC	24,400 (+238.9%)	$9 (+236.2%)	0.1%	—	—	CALL	00724F901
—	ARM HOLDINGS PLC	372,600 (+12.8%)	$41 (-12.8%)	0.6%	—	—	PUT	042068955
GDX	VANECK ETF TRUST	79,519 (+232.1%)	$7 (+272.7%)	0.1%	$0.08	—	—	92189F106
—	WALMART INC	139,100 (+36.1%)	$15 (+47.1%)	0.2%	—	—	PUT	931142953
—	NORWEGIAN CRUISE LINE HLDG L	1,072,700 (+38.7%)	$24 (+25.7%)	0.4%	—	—	CALL	G66721904
—	CROWDSTRIKE HLDGS INC	64,700 (+22.8%)	$30 (+17.4%)	0.4%	—	—	CALL	22788C905
—	META PLATFORMS INC	97,000 (+4.1%)	$64 (-6.5%)	0.9%	—	—	PUT	30303M952
—	CARNIVAL CORP	1,038,700 (+9.3%)	$32 (+15.5%)	0.5%	—	—	CALL	143658900
—	GENERAL MTRS CO	147,900 (+15.6%)	$12 (+54.2%)	0.2%	—	—	PUT	37045V950
—	NIO INC	2,411,500 (+11.3%)	$12 (-25.5%)	0.2%	—	—	CALL	62914V906
TSLA	TESLA INC	9,590 (+871.6%)	$4 (+882.5%)	0.1%	$428.93	+3.3%	—	88160R101
—	RIVIAN AUTOMOTIVE INC	347,800 (+69.7%)	$7 (+127.8%)	0.1%	—	—	CALL	76954A903
—	AST SPACEMOBILE INC	123,800 (+11.1%)	$9 (+64.4%)	0.1%	—	—	PUT	00217D950
—	RIVIAN AUTOMOTIVE INC	362,100 (+35.6%)	$7 (+82.0%)	0.1%	—	—	PUT	76954A953
—	MASTERCARD INCORPORATED	11,700 (+88.7%)	$7 (+89.4%)	0.1%	—	—	PUT	57636Q954
—	PALO ALTO NETWORKS INC	26,200 (+164.6%)	$5 (+139.4%)	0.1%	—	—	CALL	697435905
—	NIKE INC	454,400 (+21.0%)	$29 (+10.5%)	0.4%	—	—	PUT	654106953
—	SEA LTD	60,800 (+112.6%)	$8 (+51.7%)	0.1%	—	—	CALL	81141R900
—	TWILIO INC	26,100 (+139.4%)	$4 (+240.2%)	0.1%	—	—	CALL	90138F902
—	AST SPACEMOBILE INC	43,000 (+317.5%)	$3 (+517.2%)	0.0%	—	—	CALL	00217D900
—	SEA LTD	64,800 (+6.8%)	$8 (-23.8%)	0.1%	—	—	PUT	81141R950
—	TWILIO INC	40,500 (+25.0%)	$6 (+77.6%)	0.1%	—	—	PUT	90138F952
—	SELECT SECTOR SPDR TR	155,000 (+210.0%)	$7 (+55.1%)	0.1%	—	—	CALL	81369Y900
PBR	PETROLEO BRASILEIRO SA PETRO	440,351 (+99.0%)	$5 (+86.3%)	0.1%	$0.02	—	—	71654V408
—	PETROLEO BRASILEIRO SA PETRO	1,652,300 (+20.6%)	$20 (+13.0%)	0.3%	—	—	PUT	71654V951
—	NU HLDGS LTD	326,100 (+61.0%)	$5 (+68.3%)	0.1%	—	—	CALL	G6683N903
INTC	INTEL CORP	140,194 (+50.6%)	$5 (+65.6%)	0.1%	$27.50	+37.3%	—	458140100
—	CITIGROUP INC	111,500 (+2.8%)	$13 (+18.1%)	0.2%	—	—	CALL	172967904
—	LAM RESEARCH CORP	20,000 (+73.9%)	$3 (+122.3%)	0.1%	—	—	CALL	512807906
—	ADOBE INC	72,800 (+7.2%)	$25 (+6.4%)	0.4%	—	—	PUT	00724F951
—	CHEVRON CORP NEW	35,100 (+39.8%)	$5 (+37.2%)	0.1%	—	—	PUT	166764950
—	ISHARES TR	819,100 (+12.5%)	$31 (+4.7%)	0.5%	—	—	PUT	464287951
—	NU HLDGS LTD	125,000 (+150.0%)	$2 (+161.3%)	0.0%	—	—	PUT	G6683N953
XPEV	XPENG INC	90,823 (+229.1%)	$2 (+185.1%)	0.0%	$0.02	—	—	98422D105
—	ROBINHOOD MKTS INC	92,000 (+42.9%)	$10 (+12.8%)	0.2%	—	—	PUT	770700952
—	KRANESHARES TRUST	477,000 (+15.2%)	$16 (-6.6%)	0.2%	—	—	CALL	500767901
EWZ	ISHARES INC	90,299 (+58.3%)	$3 (+62.3%)	0.0%	$0.03	—	—	464286400
—	ETSY INC	42,300 (+123.8%)	$2 (+86.9%)	0.0%	—	—	CALL	29786A906
—	DELL TECHNOLOGIES INC	30,700 (+52.0%)	$4 (+35.0%)	0.1%	—	—	PUT	24703L952
VZ	VERIZON COMMUNICATIONS INC	54,405 (+96.1%)	$2 (+81.8%)	0.0%	$41.21	-1.8%	—	92343V104
—	DELL TECHNOLOGIES INC	25,700 (+53.9%)	$3 (+36.6%)	0.0%	—	—	CALL	24703L902
—	ROBINHOOD MKTS INC	36,000 (+60.0%)	$4 (+26.4%)	0.1%	—	—	CALL	770700902
—	HOME DEPOT INC	30,100 (+28.1%)	$10 (+8.8%)	0.2%	—	—	PUT	437076952
—	AFFIRM HLDGS INC	128,900 (+7.5%)	$10 (+9.5%)	0.1%	—	—	PUT	00827B956
BA	BOEING CO	8,994 (+69.9%)	$2 (+70.9%)	0.0%	$199.13	+3.3%	—	097023105
AVGO	BROADCOM INC	11,794 (+17.3%)	$4 (+23.1%)	0.1%	$284.08	+25.7%	—	11135F101
NFLX	NETFLIX INC	2,957 (+249.9%)	$0 (-72.7%)	0.0%	$108.74	-0.9%	—	64110L106
—	GRAB HOLDINGS LIMITED	355,900 (+101.0%)	$2 (+66.6%)	0.0%	—	—	PUT	G4124C959
—	XPENG INC	231,000 (+34.3%)	$5 (+16.3%)	0.1%	—	—	PUT	98422D955
—	TAKE-TWO INTERACTIVE SOFTWAR	5,800 (+75.8%)	$1 (+74.1%)	0.0%	—	—	CALL	874054909
SPY	SPDR S&P 500 ETF TR	1,403 (+144.0%)	$1 (+149.9%)	0.0%	$0.65	—	—	78462F103
—	ETSY INC	45,000 (+45.2%)	$2 (+21.2%)	0.0%	—	—	PUT	29786A956
AXP	AMERICAN EXPRESS CO	2,875 (+48.8%)	$1 (+65.7%)	0.0%	$313.63	+13.8%	—	025816109
—	ON SEMICONDUCTOR CORP	35,000 (+16.7%)	$2 (+28.1%)	0.0%	—	—	CALL	682189905
—	OCCIDENTAL PETE CORP	35,000 (+55.6%)	$1 (+35.4%)	0.0%	—	—	PUT	674599955
GRAB	GRAB HOLDINGS LIMITED	119,618 (+224.3%)	$1 (+168.9%)	0.0%	$5.30	+4.2%	—	G4124C109
OXY	OCCIDENTAL PETE CORP	13,723 (+159.4%)	$1 (+125.6%)	0.0%	$42.78	-2.9%	—	674599105
CRWD	CROWDSTRIKE HLDGS INC	1,390 (+96.1%)	$1 (+87.4%)	0.0%	$481.44	+5.8%	—	22788C105
—	CLOUDFLARE INC	9,700 (+29.3%)	$2 (+18.8%)	0.0%	—	—	CALL	18915M907
—	JD.COM INC	471,600 (+19.7%)	$14 (-1.8%)	0.2%	—	—	PUT	47215P956
BEKE	KE HLDGS INC	50,744 (+75.3%)	$1 (+45.5%)	0.0%	$0.02	—	—	482497104
WMT	WALMART INC	18,553 (+3.1%)	$2 (+11.4%)	0.0%	$87.10	+23.1%	—	931142103
DELL	DELL TECHNOLOGIES INC	8,690 (+38.0%)	$1 (+22.5%)	0.0%	$132.36	+6.3%	—	24703L202
NIO	NIO INC	344,976 (+34.3%)	$2 (-10.2%)	0.0%	$0.01	—	—	62914V106
FXI	ISHARES TR	24,624 (+29.4%)	$1 (+20.4%)	0.0%	$0.04	—	—	464287184
ORCL	ORACLE CORP	7,988 (+57.0%)	$2 (+8.8%)	0.0%	$248.32	-4.1%	—	68389X105
ARM	ARM HOLDINGS PLC	5,212 (+9.7%)	$1 (-15.3%)	0.0%	$0.14	—	—	042068205
SE	SEA LTD	5,687 (+24.8%)	$1 (-10.9%)	0.0%	$0.17	—	—	81141R100
SMCI	SUPER MICRO COMPUTER INC	10,598 (+126.1%)	$0 (+37.8%)	0.0%	$44.08	-6.6%	—	86800U302
JPM	JPMORGAN CHASE & CO.	1,280 (+21.9%)	$0 (+24.5%)	0.0%	$298.37	+3.7%	—	46625H100
NCLH	NORWEGIAN CRUISE LINE HLDG L	58,454 (+13.7%)	$1 (+3.0%)	0.0%	$22.74	-7.2%	—	G66721104
—	SELECT SECTOR SPDR TR	100,000 (+100.0%)	$4 (+0.1%)	0.1%	—	—	PUT	81369Y950

Exited Positions (32)

— SPDR S&P 500 ETF TR 0.2%

Value ($000) $13 Shares 20,000 Est. Cost — Unrealized —

— ANALOG DEVICES INC 0.1%

Value ($000) $9 Shares 35,200 Est. Cost — Unrealized —

— LAM RESEARCH CORP 0.1%

Value ($000) $5 Shares 40,000 Est. Cost — Unrealized —

— MCDONALDS CORP 0.1%

Value ($000) $4 Shares 14,300 Est. Cost — Unrealized —

— APPLIED MATLS INC 0.1%

Value ($000) $4 Shares 17,500 Est. Cost — Unrealized —

— HIMS & HERS HEALTH INC 0.0%

Value ($000) $3 Shares 55,000 Est. Cost — Unrealized —

WFC WELLS FARGO CO NEW 0.0%

Value ($000) $3 Shares 31,866 Est. Cost $70.67 Unrealized +22.6%

AMAT APPLIED MATLS INC 0.0%

Value ($000) $2 Shares 9,428 Est. Cost $180.78 Unrealized +32.5%

CCL CARNIVAL CORP 0.0%

Value ($000) $2 Shares 62,348 Est. Cost $27.83 Unrealized +0.2%

AMD ADVANCED MICRO DEVICES INC 0.0%

Value ($000) $1 Shares 8,265 Est. Cost $147.56 Unrealized +52.2%

XOM EXXON MOBIL CORP 0.0%

Value ($000) $1 Shares 8,727 Est. Cost $106.25 Unrealized +8.7%

MA MASTERCARD INCORPORATED 0.0%

Value ($000) $1 Shares 1,558 Est. Cost $546.60 Unrealized +2.3%

MCD MCDONALDS CORP 0.0%

Value ($000) $1 Shares 2,848 Est. Cost $302.60 Unrealized +0.8%

BAC BANK AMERICA CORP 0.0%

Value ($000) $1 Shares 16,433 Est. Cost $48.34 Unrealized +8.9%

— ENPHASE ENERGY INC 0.0%

Value ($000) $1 Shares 20,000 Est. Cost — Unrealized —

UNH UNITEDHEALTH GROUP INC 0.0%

Value ($000) $1 Shares 1,874 Est. Cost $298.94 Unrealized +12.8%

ADBE ADOBE INC 0.0%

Value ($000) $1 Shares 1,788 Est. Cost $370.85 Unrealized -8.3%

AIG AMERICAN INTL GROUP INC 0.0%

Value ($000) $1 Shares 7,867 Est. Cost $77.25 Unrealized +3.2%

ZM ZOOM COMMUNICATIONS INC 0.0%

Value ($000) $1 Shares 6,646 Est. Cost $78.02 Unrealized +7.9%

— WOLFSPEED INC 0.0%

Value ($000) $0 Shares 16,557 Est. Cost $0.00 Unrealized —

NEM NEWMONT CORP 0.0%

Value ($000) $0 Shares 5,491 Est. Cost $44.36 Unrealized +103.3%

UBER UBER TECHNOLOGIES INC 0.0%

Value ($000) $0 Shares 4,700 Est. Cost $76.88 Unrealized +17.1%

DAL DELTA AIR LINES INC DEL 0.0%

Value ($000) $0 Shares 7,512 Est. Cost $56.83 Unrealized +9.9%

NVDA NVIDIA CORPORATION 0.0%

Value ($000) $0 Shares 2,001 Est. Cost $174.29 Unrealized +6.8%

SNAP SNAP INC 0.0%

Value ($000) $0 Shares 45,653 Est. Cost $9.08 Unrealized -12.9%

XYZ BLOCK INC 0.0%

Value ($000) $0 Shares 4,615 Est. Cost $71.98 Unrealized -4.2%

ETSY ETSY INC 0.0%

Value ($000) $0 Shares 3,634 Est. Cost $49.74 Unrealized +22.7%

AFRM AFFIRM HLDGS INC 0.0%

Value ($000) $0 Shares 3,216 Est. Cost $76.10 Unrealized -5.4%

APP APPLOVIN CORP 0.0%

Value ($000) $0 Shares 310 Est. Cost $324.21 Unrealized +94.4%

NVO NOVO-NORDISK A S 0.0%

Value ($000) $0 Shares 3,946 Est. Cost $0.06 Unrealized —

ON ON SEMICONDUCTOR CORP 0.0%

Value ($000) $0 Shares 4,326 Est. Cost $50.33 Unrealized +1.9%

F FORD MTR CO 0.0%

Value ($000) $0 Shares 10,209 Est. Cost $9.98 Unrealized +28.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	SPDR S&P 500 ETF TR	20,000	$13	0.2%	—	—	PUT	78462F953
—	ANALOG DEVICES INC	35,200	$9	0.1%	—	—	CALL	032654905
—	LAM RESEARCH CORP	40,000	$5	0.1%	—	—	PUT	512807956
—	MCDONALDS CORP	14,300	$4	0.1%	—	—	PUT	580135951
—	APPLIED MATLS INC	17,500	$4	0.1%	—	—	CALL	038222905
—	HIMS & HERS HEALTH INC	55,000	$3	0.0%	—	—	CALL	433000906
WFC	WELLS FARGO CO NEW	31,866	$3	0.0%	$70.67	+22.6%	—	949746101
AMAT	APPLIED MATLS INC	9,428	$2	0.0%	$180.78	+32.5%	—	038222105
CCL	CARNIVAL CORP	62,348	$2	0.0%	$27.83	+0.2%	—	143658300
AMD	ADVANCED MICRO DEVICES INC	8,265	$1	0.0%	$147.56	+52.2%	—	007903107
XOM	EXXON MOBIL CORP	8,727	$1	0.0%	$106.25	+8.7%	—	30231G102
MA	MASTERCARD INCORPORATED	1,558	$1	0.0%	$546.60	+2.3%	—	57636Q104
MCD	MCDONALDS CORP	2,848	$1	0.0%	$302.60	+0.8%	—	580135101
BAC	BANK AMERICA CORP	16,433	$1	0.0%	$48.34	+8.9%	—	060505104
—	ENPHASE ENERGY INC	20,000	$1	0.0%	—	—	PUT	29355A957
UNH	UNITEDHEALTH GROUP INC	1,874	$1	0.0%	$298.94	+12.8%	—	91324P102
ADBE	ADOBE INC	1,788	$1	0.0%	$370.85	-8.3%	—	00724F101
AIG	AMERICAN INTL GROUP INC	7,867	$1	0.0%	$77.25	+3.2%	—	026874784
ZM	ZOOM COMMUNICATIONS INC	6,646	$1	0.0%	$78.02	+7.9%	—	98980L101
—	WOLFSPEED INC	16,557	$0	0.0%	$0.00	—	—	977852102
NEM	NEWMONT CORP	5,491	$0	0.0%	$44.36	+103.3%	—	651639106
UBER	UBER TECHNOLOGIES INC	4,700	$0	0.0%	$76.88	+17.1%	—	90353T100
DAL	DELTA AIR LINES INC DEL	7,512	$0	0.0%	$56.83	+9.9%	—	247361702
NVDA	NVIDIA CORPORATION	2,001	$0	0.0%	$174.29	+6.8%	—	67066G104
SNAP	SNAP INC	45,653	$0	0.0%	$9.08	-12.9%	—	83304A106
XYZ	BLOCK INC	4,615	$0	0.0%	$71.98	-4.2%	—	852234103
ETSY	ETSY INC	3,634	$0	0.0%	$49.74	+22.7%	—	29786A106
AFRM	AFFIRM HLDGS INC	3,216	$0	0.0%	$76.10	-5.4%	—	00827B106
APP	APPLOVIN CORP	310	$0	0.0%	$324.21	+94.4%	—	03831W108
NVO	NOVO-NORDISK A S	3,946	$0	0.0%	$0.06	—	—	670100205
ON	ON SEMICONDUCTOR CORP	4,326	$0	0.0%	$50.33	+1.9%	—	682189105
F	FORD MTR CO	10,209	$0	0.0%	$9.98	+28.6%	—	345370860

Decreased Positions (129)

— NVIDIA CORPORATION 1.7%

Value ($000) $116 (-69.8%) Shares 620,700 (-69.8%) Est. Cost — Unrealized —

— MICROSOFT CORP 5.5%

Value ($000) $374 (-25.7%) Shares 774,300 (-20.4%) Est. Cost — Unrealized —

— BROADCOM INC 2.1%

Value ($000) $141 (-40.2%) Shares 406,700 (-43.0%) Est. Cost — Unrealized —

— MICROSOFT CORP 6.6%

Value ($000) $448 (-16.9%) Shares 927,000 (-11.0%) Est. Cost — Unrealized —

— MICRON TECHNOLOGY INC 3.7%

Value ($000) $248 (+49.5%) Shares 869,500 (-12.4%) Est. Cost — Unrealized —

— TESLA INC 1.1%

Value ($000) $76 (-47.7%) Shares 169,500 (-48.2%) Est. Cost — Unrealized —

— APPLE INC 0.1%

Value ($000) $5 (-89.3%) Shares 17,500 (-90.0%) Est. Cost — Unrealized —

— BROADCOM INC 0.6%

Value ($000) $40 (-44.0%) Shares 116,800 (-46.7%) Est. Cost — Unrealized —

— TAIWAN SEMICONDUCTOR MFG LTD 0.9%

Value ($000) $63 (-30.6%) Shares 206,300 (-36.2%) Est. Cost — Unrealized —

— JPMORGAN CHASE & CO. 0.1%

Value ($000) $4 (-86.0%) Shares 13,700 (-86.2%) Est. Cost — Unrealized —

— ASML HOLDING N V 0.1%

Value ($000) $6 (-79.2%) Shares 6,000 (-81.2%) Est. Cost — Unrealized —

— PALANTIR TECHNOLOGIES INC 0.3%

Value ($000) $19 (-55.7%) Shares 108,100 (-54.5%) Est. Cost — Unrealized —

— BANK AMERICA CORP 0.4%

Value ($000) $24 (-46.0%) Shares 440,400 (-49.4%) Est. Cost — Unrealized —

— APPLE INC 0.1%

Value ($000) $10 (-66.0%) Shares 35,700 (-68.2%) Est. Cost — Unrealized —

— HOME DEPOT INC 0.1%

Value ($000) $8 (-68.9%) Shares 24,100 (-63.4%) Est. Cost — Unrealized —

— META PLATFORMS INC 0.9%

Value ($000) $59 (-23.5%) Shares 89,400 (-14.9%) Est. Cost — Unrealized —

— NVIDIA CORPORATION 0.4%

Value ($000) $24 (-42.2%) Shares 129,300 (-42.1%) Est. Cost — Unrealized —

— ARM HOLDINGS PLC 0.2%

Value ($000) $10 (-59.7%) Shares 94,900 (-47.8%) Est. Cost — Unrealized —

— ASML HOLDING N V 0.1%

Value ($000) $5 (-75.1%) Shares 4,700 (-77.5%) Est. Cost — Unrealized —

— JD.COM INC 0.5%

Value ($000) $32 (-29.0%) Shares 1,116,100 (-13.5%) Est. Cost — Unrealized —

— SCHWAB CHARLES CORP 0.0%

Value ($000) $3 (-79.1%) Shares 33,400 (-80.0%) Est. Cost — Unrealized —

— ELI LILLY & CO 0.7%

Value ($000) $46 (+36.1%) Shares 43,100 (-3.4%) Est. Cost — Unrealized —

— QUALCOMM INC 0.5%

Value ($000) $35 (-25.0%) Shares 205,000 (-27.1%) Est. Cost — Unrealized —

— TARGET CORP 0.4%

Value ($000) $28 (-28.5%) Shares 283,200 (-34.4%) Est. Cost — Unrealized —

— ADVANCED MICRO DEVICES INC 1.2%

Value ($000) $82 (+13.5%) Shares 385,200 (-14.2%) Est. Cost — Unrealized —

— BLOCK INC 0.3%

Value ($000) $18 (-34.6%) Shares 280,800 (-27.4%) Est. Cost — Unrealized —

— PALANTIR TECHNOLOGIES INC 0.4%

Value ($000) $29 (-24.6%) Shares 161,000 (-22.6%) Est. Cost — Unrealized —

— UBER TECHNOLOGIES INC 0.2%

Value ($000) $14 (-39.2%) Shares 177,200 (-27.0%) Est. Cost — Unrealized —

— VANECK ETF TRUST 0.8%

Value ($000) $54 (-14.4%) Shares 634,100 (-23.8%) Est. Cost — Unrealized —

— AMERICAN EXPRESS CO 0.3%

Value ($000) $23 (-28.7%) Shares 61,300 (-35.9%) Est. Cost — Unrealized —

— VALE S A 0.9%

Value ($000) $58 (-13.4%) Shares 4,485,300 (-27.8%) Est. Cost — Unrealized —

— UBER TECHNOLOGIES INC 0.5%

Value ($000) $35 (-20.1%) Shares 432,100 (-4.2%) Est. Cost — Unrealized —

— WELLS FARGO CO NEW 0.1%

Value ($000) $6 (-58.3%) Shares 67,800 (-62.5%) Est. Cost — Unrealized —

— AMERICAN AIRLS GROUP INC 0.6%

Value ($000) $43 (+25.4%) Shares 2,815,600 (-8.1%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 0.0%

Value ($000) $1 (-89.3%) Shares 1,960 (-88.5%) Est. Cost $449.75 Unrealized +11.3%

— SNOWFLAKE INC 1.0%

Value ($000) $67 (-10.5%) Shares 304,600 (-8.0%) Est. Cost — Unrealized —

— CARNIVAL CORP 0.7%

Value ($000) $47 (-13.4%) Shares 1,546,700 (-18.0%) Est. Cost — Unrealized —

— TEVA PHARMACEUTICAL INDS LTD 0.4%

Value ($000) $30 (+30.9%) Shares 963,100 (-15.3%) Est. Cost — Unrealized —

— DISNEY WALT CO 0.0%

Value ($000) $1 (-83.5%) Shares 12,200 (-83.4%) Est. Cost — Unrealized —

— MARVELL TECHNOLOGY INC 0.7%

Value ($000) $49 (-12.4%) Shares 578,200 (-13.3%) Est. Cost — Unrealized —

— XPENG INC 0.0%

Value ($000) $1 (-86.5%) Shares 53,500 (-84.4%) Est. Cost — Unrealized —

— FORD MTR CO 0.2%

Value ($000) $17 (-28.7%) Shares 1,288,300 (-35.0%) Est. Cost — Unrealized —

— EXXON MOBIL CORP 0.2%

Value ($000) $14 (-31.9%) Shares 118,800 (-36.2%) Est. Cost — Unrealized —

— SUPER MICRO COMPUTER INC 0.0%

Value ($000) $3 (-68.3%) Shares 104,000 (-48.0%) Est. Cost — Unrealized —

— BANK AMERICA CORP 0.1%

Value ($000) $8 (-43.9%) Shares 151,100 (-47.4%) Est. Cost — Unrealized —

— BLOCK INC 0.2%

Value ($000) $17 (-27.6%) Shares 258,500 (-19.6%) Est. Cost — Unrealized —

— BOEING CO 1.1%

Value ($000) $75 (-7.8%) Shares 346,800 (-8.3%) Est. Cost — Unrealized —

— PDD HOLDINGS INC 0.5%

Value ($000) $34 (-15.6%) Shares 300,000 (-1.6%) Est. Cost — Unrealized —

— LI AUTO INC 0.0%

Value ($000) $0 (-97.4%) Shares 10,000 (-96.1%) Est. Cost — Unrealized —

— AMERICAN INTL GROUP INC 0.1%

Value ($000) $5 (-52.6%) Shares 63,800 (-56.5%) Est. Cost — Unrealized —

— CITIGROUP INC 0.4%

Value ($000) $28 (-17.5%) Shares 237,700 (-28.3%) Est. Cost — Unrealized —

— FIRST SOLAR INC 0.5%

Value ($000) $32 (-15.2%) Shares 121,400 (-28.4%) Est. Cost — Unrealized —

— MASTERCARD INCORPORATED 0.1%

Value ($000) $4 (-58.2%) Shares 6,500 (-58.3%) Est. Cost — Unrealized —

— DISNEY WALT CO 0.0%

Value ($000) $3 (-61.6%) Shares 28,100 (-61.3%) Est. Cost — Unrealized —

— CROWDSTRIKE HLDGS INC 0.5%

Value ($000) $33 (-13.2%) Shares 71,300 (-9.2%) Est. Cost — Unrealized —

— ISHARES TR 0.4%

Value ($000) $30 (-13.0%) Shares 795,200 (-6.4%) Est. Cost — Unrealized —

— VERIZON COMMUNICATIONS INC 0.1%

Value ($000) $10 (-30.0%) Shares 241,900 (-24.5%) Est. Cost — Unrealized —

— TARGET CORP 0.4%

Value ($000) $27 (-13.6%) Shares 272,100 (-20.7%) Est. Cost — Unrealized —

— FIRST SOLAR INC 0.1%

Value ($000) $8 (-34.4%) Shares 30,300 (-44.6%) Est. Cost — Unrealized —

— APPLOVIN CORP 0.1%

Value ($000) $7 (-37.5%) Shares 10,000 (-33.3%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.0%

Value ($000) $0 (-93.7%) Shares 383 (-93.0%) Est. Cost $743.23 Unrealized -10.2%

— LI AUTO INC 0.0%

Value ($000) $2 (-61.3%) Shares 138,000 (-42.1%) Est. Cost — Unrealized —

— CARVANA CO 0.0%

Value ($000) $2 (-62.7%) Shares 5,000 (-66.7%) Est. Cost — Unrealized —

— PAYPAL HLDGS INC 0.2%

Value ($000) $15 (-18.7%) Shares 259,300 (-6.7%) Est. Cost — Unrealized —

— VALE S A 0.4%

Value ($000) $28 (+13.7%) Shares 2,149,100 (-5.2%) Est. Cost — Unrealized —

— LULULEMON ATHLETICA INC 0.6%

Value ($000) $44 (-7.1%) Shares 211,600 (-20.5%) Est. Cost — Unrealized —

— VISA INC 0.2%

Value ($000) $12 (-22.3%) Shares 33,600 (-24.3%) Est. Cost — Unrealized —

— MORGAN STANLEY 0.1%

Value ($000) $4 (-48.0%) Shares 20,100 (-53.5%) Est. Cost — Unrealized —

— INTERNATIONAL BUSINESS MACHS 0.2%

Value ($000) $17 (-15.3%) Shares 57,100 (-19.4%) Est. Cost — Unrealized —

— ELI LILLY & CO 0.3%

Value ($000) $23 (+15.1%) Shares 21,500 (-18.3%) Est. Cost — Unrealized —

— EXXON MOBIL CORP 0.1%

Value ($000) $8 (-27.5%) Shares 65,400 (-32.1%) Est. Cost — Unrealized —

— AMERICAN EXPRESS CO 0.5%

Value ($000) $33 (-8.3%) Shares 88,500 (-17.7%) Est. Cost — Unrealized —

— SNOWFLAKE INC 0.8%

Value ($000) $52 (-5.3%) Shares 235,500 (-2.6%) Est. Cost — Unrealized —

— GENERAL MTRS CO 0.0%

Value ($000) $2 (-57.0%) Shares 26,700 (-67.8%) Est. Cost — Unrealized —

UAL UNITED AIRLS HLDGS INC 0.0%

Value ($000) $1 (-76.4%) Shares 7,795 (-79.7%) Est. Cost $96.17 Unrealized +5.1%

— ZOOM COMMUNICATIONS INC 0.1%

Value ($000) $10 (-22.6%) Shares 111,200 (-26.0%) Est. Cost — Unrealized —

— KE HLDGS INC 0.0%

Value ($000) $3 (-46.6%) Shares 196,300 (-35.6%) Est. Cost — Unrealized —

C CITIGROUP INC 0.0%

Value ($000) $1 (-82.3%) Shares 4,905 (-84.6%) Est. Cost $72.26 Unrealized +43.4%

— CLOUDFLARE INC 0.0%

Value ($000) $2 (-52.8%) Shares 11,400 (-48.6%) Est. Cost — Unrealized —

TGT TARGET CORP 0.0%

Value ($000) $0 (-92.0%) Shares 2,209 (-92.7%) Est. Cost $99.17 Unrealized -7.6%

VALE VALE S A 0.0%

Value ($000) $0 (-85.2%) Shares 30,251 (-87.7%) Est. Cost $0.30 Unrealized —

— VISTRA CORP 0.0%

Value ($000) $3 (-46.2%) Shares 16,000 (-34.7%) Est. Cost — Unrealized —

FCX FREEPORT-MCMORAN INC 0.0%

Value ($000) $0 (-91.1%) Shares 4,258 (-93.1%) Est. Cost $39.08 Unrealized +10.8%

— SALESFORCE INC 0.3%

Value ($000) $20 (-9.2%) Shares 76,200 (-18.8%) Est. Cost — Unrealized —

— CARVANA CO 0.0%

Value ($000) $1 (-65.7%) Shares 2,300 (-69.3%) Est. Cost — Unrealized —

— VERIZON COMMUNICATIONS INC 0.1%

Value ($000) $6 (-23.3%) Shares 138,400 (-17.2%) Est. Cost — Unrealized —

— AMERICAN INTL GROUP INC 0.0%

Value ($000) $1 (-68.1%) Shares 9,300 (-70.8%) Est. Cost — Unrealized —

— FREEPORT-MCMORAN INC 0.3%

Value ($000) $17 (+10.6%) Shares 337,500 (-14.6%) Est. Cost — Unrealized —

— PFIZER INC 0.3%

Value ($000) $20 (-7.4%) Shares 813,800 (-5.3%) Est. Cost — Unrealized —

SOFI SOFI TECHNOLOGIES INC 0.0%

Value ($000) $0 (-82.0%) Shares 13,142 (-81.8%) Est. Cost $13.47 Unrealized +106.9%

— SNAP INC 0.0%

Value ($000) $2 (-47.7%) Shares 200,000 (-50.0%) Est. Cost — Unrealized —

— QUALCOMM INC 0.4%

Value ($000) $24 (-5.6%) Shares 142,700 (-8.2%) Est. Cost — Unrealized —

— MARVELL TECHNOLOGY INC 0.4%

Value ($000) $29 (-4.7%) Shares 337,000 (-5.7%) Est. Cost — Unrealized —

— NOVO-NORDISK A S 0.1%

Value ($000) $4 (-24.6%) Shares 83,200 (-20.2%) Est. Cost — Unrealized —

— KE HLDGS INC 0.1%

Value ($000) $6 (-19.3%) Shares 367,400 (-2.6%) Est. Cost — Unrealized —

— BARRICK MNG CORP 0.1%

Value ($000) $10 (+16.5%) Shares 223,200 (-12.3%) Est. Cost — Unrealized —

— SUPER MICRO COMPUTER INC 0.0%

Value ($000) $1 (-54.2%) Shares 37,500 (-25.0%) Est. Cost — Unrealized —

— NORWEGIAN CRUISE LINE HLDG L 0.1%

Value ($000) $10 (-10.9%) Shares 446,400 (-1.7%) Est. Cost — Unrealized —

SMH VANECK ETF TRUST 0.0%

Value ($000) $0 (-84.5%) Shares 609 (-85.9%) Est. Cost $0.22 Unrealized —

— SNAP INC 0.0%

Value ($000) $1 (-58.1%) Shares 100,000 (-60.0%) Est. Cost — Unrealized —

— JPMORGAN CHASE & CO. 0.1%

Value ($000) $8 (-11.5%) Shares 26,000 (-13.3%) Est. Cost — Unrealized —

— ALPHABET INC 0.7%

Value ($000) $46 (+2.4%) Shares 147,300 (-20.5%) Est. Cost — Unrealized —

B BARRICK MNG CORP 0.0%

Value ($000) $1 (-56.1%) Shares 15,859 (-67.0%) Est. Cost $19.29 Unrealized +94.0%

QCOM QUALCOMM INC 0.0%

Value ($000) $0 (-61.9%) Shares 2,414 (-63.0%) Est. Cost $157.20 Unrealized +8.6%

— ZOOM COMMUNICATIONS INC 0.1%

Value ($000) $5 (-12.0%) Shares 54,500 (-15.9%) Est. Cost — Unrealized —

— MORGAN STANLEY 0.0%

Value ($000) $2 (-25.3%) Shares 10,100 (-33.1%) Est. Cost — Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.0%

Value ($000) $1 (-44.3%) Shares 3,234 (-42.9%) Est. Cost $62.00 Unrealized +192.0%

— NOVO-NORDISK A S 0.0%

Value ($000) $3 (-12.6%) Shares 60,300 (-7.4%) Est. Cost — Unrealized —

— APPLIED MATLS INC 0.1%

Value ($000) $4 (-8.5%) Shares 17,500 (-27.1%) Est. Cost — Unrealized —

— WALMART INC 0.2%

Value ($000) $14 (-2.7%) Shares 128,900 (-10.0%) Est. Cost — Unrealized —

SHOP SHOPIFY INC 0.0%

Value ($000) $1 (-33.5%) Shares 4,469 (-38.6%) Est. Cost $113.72 Unrealized +41.2%

NKE NIKE INC 0.0%

Value ($000) $0 (-41.4%) Shares 7,520 (-35.9%) Est. Cost $73.79 Unrealized -12.0%

LLY ELI LILLY & CO 0.0%

Value ($000) $0 (-54.6%) Shares 189 (-67.7%) Est. Cost $742.24 Unrealized +28.7%

— GRAB HOLDINGS LIMITED 0.0%

Value ($000) $0 (-65.7%) Shares 20,400 (-58.6%) Est. Cost — Unrealized —

PANW PALO ALTO NETWORKS INC 0.0%

Value ($000) $0 (-29.5%) Shares 2,164 (-22.1%) Est. Cost $166.83 Unrealized +20.9%

IBM INTERNATIONAL BUSINESS MACHS 0.0%

Value ($000) $1 (-19.5%) Shares 2,329 (-23.3%) Est. Cost $249.42 Unrealized +19.8%

TEVA TEVA PHARMACEUTICAL INDS LTD 0.0%

Value ($000) $2 (-7.8%) Shares 59,601 (-40.3%) Est. Cost $0.02 Unrealized —

HD HOME DEPOT INC 0.0%

Value ($000) $1 (-20.0%) Shares 1,781 (-5.8%) Est. Cost $389.16 Unrealized -6.3%

AMZN AMAZON COM INC 0.0%

Value ($000) $0 (-24.4%) Shares 1,623 (-28.2%) Est. Cost $176.98 Unrealized +29.3%

MU MICRON TECHNOLOGY INC 0.0%

Value ($000) $1 (+9.6%) Shares 3,837 (-35.7%) Est. Cost $103.46 Unrealized +121.7%

CAT CATERPILLAR INC 0.0%

Value ($000) $2 (-2.3%) Shares 3,338 (-18.6%) Est. Cost $381.27 Unrealized +45.7%

— ON SEMICONDUCTOR CORP 0.0%

Value ($000) $3 (+1.4%) Shares 60,000 (-7.7%) Est. Cost — Unrealized —

— DELTA AIR LINES INC DEL 0.3%

Value ($000) $21 (+0.2%) Shares 296,800 (-18.1%) Est. Cost — Unrealized —

ABNB AIRBNB INC 0.0%

Value ($000) $0 (+6.3%) Shares 2,980 (-4.8%) Est. Cost $129.37 Unrealized -3.7%

CRM SALESFORCE INC 0.0%

Value ($000) $1 (-2.3%) Shares 3,609 (-12.6%) Est. Cost $251.43 Unrealized -1.3%

GOOG ALPHABET INC 0.1%

Value ($000) $4 (-0.6%) Shares 11,485 (-22.9%) Est. Cost $167.93 Unrealized +70.5%

SCHW SCHWAB CHARLES CORP 0.0%

Value ($000) $0 (-6.9%) Shares 2,571 (-11.1%) Est. Cost $94.54 Unrealized +0.2%

CSCO CISCO SYS INC 0.0%

Value ($000) $0 (+7.3%) Shares 3,032 (-5.0%) Est. Cost $60.38 Unrealized +22.2%

— WARNER BROS DISCOVERY INC 0.0%

Value ($000) $1 (+1.3%) Shares 29,600 (-31.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	NVIDIA CORPORATION	620,700 (-69.8%)	$116 (-69.8%)	1.7%	—	—	PUT	67066G954
—	MICROSOFT CORP	774,300 (-20.4%)	$374 (-25.7%)	5.5%	—	—	PUT	594918954
—	BROADCOM INC	406,700 (-43.0%)	$141 (-40.2%)	2.1%	—	—	PUT	11135F951
—	MICROSOFT CORP	927,000 (-11.0%)	$448 (-16.9%)	6.6%	—	—	CALL	594918904
—	MICRON TECHNOLOGY INC	869,500 (-12.4%)	$248 (+49.5%)	3.7%	—	—	PUT	595112953
—	TESLA INC	169,500 (-48.2%)	$76 (-47.7%)	1.1%	—	—	PUT	88160R951
—	APPLE INC	17,500 (-90.0%)	$5 (-89.3%)	0.1%	—	—	PUT	037833950
—	BROADCOM INC	116,800 (-46.7%)	$40 (-44.0%)	0.6%	—	—	CALL	11135F901
—	TAIWAN SEMICONDUCTOR MFG LTD	206,300 (-36.2%)	$63 (-30.6%)	0.9%	—	—	CALL	874039900
—	JPMORGAN CHASE & CO.	13,700 (-86.2%)	$4 (-86.0%)	0.1%	—	—	PUT	46625H950
—	ASML HOLDING N V	6,000 (-81.2%)	$6 (-79.2%)	0.1%	—	—	CALL	N07059900
—	PALANTIR TECHNOLOGIES INC	108,100 (-54.5%)	$19 (-55.7%)	0.3%	—	—	CALL	69608A908
—	BANK AMERICA CORP	440,400 (-49.4%)	$24 (-46.0%)	0.4%	—	—	CALL	060505904
—	APPLE INC	35,700 (-68.2%)	$10 (-66.0%)	0.1%	—	—	CALL	037833900
—	HOME DEPOT INC	24,100 (-63.4%)	$8 (-68.9%)	0.1%	—	—	CALL	437076902
—	META PLATFORMS INC	89,400 (-14.9%)	$59 (-23.5%)	0.9%	—	—	CALL	30303M902
—	NVIDIA CORPORATION	129,300 (-42.1%)	$24 (-42.2%)	0.4%	—	—	CALL	67066G904
—	ARM HOLDINGS PLC	94,900 (-47.8%)	$10 (-59.7%)	0.2%	—	—	CALL	042068905
—	ASML HOLDING N V	4,700 (-77.5%)	$5 (-75.1%)	0.1%	—	—	PUT	N07059950
—	JD.COM INC	1,116,100 (-13.5%)	$32 (-29.0%)	0.5%	—	—	CALL	47215P906
—	SCHWAB CHARLES CORP	33,400 (-80.0%)	$3 (-79.1%)	0.0%	—	—	CALL	808513905
—	ELI LILLY & CO	43,100 (-3.4%)	$46 (+36.1%)	0.7%	—	—	CALL	532457908
—	QUALCOMM INC	205,000 (-27.1%)	$35 (-25.0%)	0.5%	—	—	CALL	747525903
—	TARGET CORP	283,200 (-34.4%)	$28 (-28.5%)	0.4%	—	—	PUT	87612E956
—	ADVANCED MICRO DEVICES INC	385,200 (-14.2%)	$82 (+13.5%)	1.2%	—	—	CALL	007903907
—	BLOCK INC	280,800 (-27.4%)	$18 (-34.6%)	0.3%	—	—	CALL	852234903
—	PALANTIR TECHNOLOGIES INC	161,000 (-22.6%)	$29 (-24.6%)	0.4%	—	—	PUT	69608A958
—	UBER TECHNOLOGIES INC	177,200 (-27.0%)	$14 (-39.2%)	0.2%	—	—	CALL	90353T900
—	VANECK ETF TRUST	634,100 (-23.8%)	$54 (-14.4%)	0.8%	—	—	CALL	92189F906
—	AMERICAN EXPRESS CO	61,300 (-35.9%)	$23 (-28.7%)	0.3%	—	—	CALL	025816909
—	VALE S A	4,485,300 (-27.8%)	$58 (-13.4%)	0.9%	—	—	CALL	91912E905
—	UBER TECHNOLOGIES INC	432,100 (-4.2%)	$35 (-20.1%)	0.5%	—	—	PUT	90353T950
—	WELLS FARGO CO NEW	67,800 (-62.5%)	$6 (-58.3%)	0.1%	—	—	CALL	949746901
—	AMERICAN AIRLS GROUP INC	2,815,600 (-8.1%)	$43 (+25.4%)	0.6%	—	—	PUT	02376R952
MSFT	MICROSOFT CORP	1,960 (-88.5%)	$1 (-89.3%)	0.0%	$449.75	+11.3%	—	594918104
—	SNOWFLAKE INC	304,600 (-8.0%)	$67 (-10.5%)	1.0%	—	—	PUT	833445959
—	CARNIVAL CORP	1,546,700 (-18.0%)	$47 (-13.4%)	0.7%	—	—	PUT	143658950
—	TEVA PHARMACEUTICAL INDS LTD	963,100 (-15.3%)	$30 (+30.9%)	0.4%	—	—	CALL	881624909
—	DISNEY WALT CO	12,200 (-83.4%)	$1 (-83.5%)	0.0%	—	—	CALL	254687906
—	MARVELL TECHNOLOGY INC	578,200 (-13.3%)	$49 (-12.4%)	0.7%	—	—	PUT	573874954
—	XPENG INC	53,500 (-84.4%)	$1 (-86.5%)	0.0%	—	—	CALL	98422D905
—	FORD MTR CO	1,288,300 (-35.0%)	$17 (-28.7%)	0.2%	—	—	CALL	345370900
—	EXXON MOBIL CORP	118,800 (-36.2%)	$14 (-31.9%)	0.2%	—	—	CALL	30231G902
—	SUPER MICRO COMPUTER INC	104,000 (-48.0%)	$3 (-68.3%)	0.0%	—	—	PUT	86800U952
—	BANK AMERICA CORP	151,100 (-47.4%)	$8 (-43.9%)	0.1%	—	—	PUT	060505954
—	BLOCK INC	258,500 (-19.6%)	$17 (-27.6%)	0.2%	—	—	PUT	852234953
—	BOEING CO	346,800 (-8.3%)	$75 (-7.8%)	1.1%	—	—	PUT	097023955
—	PDD HOLDINGS INC	300,000 (-1.6%)	$34 (-15.6%)	0.5%	—	—	CALL	722304902
—	LI AUTO INC	10,000 (-96.1%)	$0 (-97.4%)	0.0%	—	—	CALL	50202M902
—	AMERICAN INTL GROUP INC	63,800 (-56.5%)	$5 (-52.6%)	0.1%	—	—	CALL	026874904
—	CITIGROUP INC	237,700 (-28.3%)	$28 (-17.5%)	0.4%	—	—	PUT	172967954
—	FIRST SOLAR INC	121,400 (-28.4%)	$32 (-15.2%)	0.5%	—	—	PUT	336433957
—	MASTERCARD INCORPORATED	6,500 (-58.3%)	$4 (-58.2%)	0.1%	—	—	CALL	57636Q904
—	DISNEY WALT CO	28,100 (-61.3%)	$3 (-61.6%)	0.0%	—	—	PUT	254687956
—	CROWDSTRIKE HLDGS INC	71,300 (-9.2%)	$33 (-13.2%)	0.5%	—	—	PUT	22788C955
—	ISHARES TR	795,200 (-6.4%)	$30 (-13.0%)	0.4%	—	—	CALL	464287901
—	VERIZON COMMUNICATIONS INC	241,900 (-24.5%)	$10 (-30.0%)	0.1%	—	—	CALL	92343V904
—	TARGET CORP	272,100 (-20.7%)	$27 (-13.6%)	0.4%	—	—	CALL	87612E906
—	FIRST SOLAR INC	30,300 (-44.6%)	$8 (-34.4%)	0.1%	—	—	CALL	336433907
—	APPLOVIN CORP	10,000 (-33.3%)	$7 (-37.5%)	0.1%	—	—	CALL	03831W908
META	META PLATFORMS INC	383 (-93.0%)	$0 (-93.7%)	0.0%	$743.23	-10.2%	—	30303M102
—	LI AUTO INC	138,000 (-42.1%)	$2 (-61.3%)	0.0%	—	—	PUT	50202M952
—	CARVANA CO	5,000 (-66.7%)	$2 (-62.7%)	0.0%	—	—	PUT	146869952
—	PAYPAL HLDGS INC	259,300 (-6.7%)	$15 (-18.7%)	0.2%	—	—	CALL	70450Y903
—	VALE S A	2,149,100 (-5.2%)	$28 (+13.7%)	0.4%	—	—	PUT	91912E955
—	LULULEMON ATHLETICA INC	211,600 (-20.5%)	$44 (-7.1%)	0.6%	—	—	PUT	550021959
—	VISA INC	33,600 (-24.3%)	$12 (-22.3%)	0.2%	—	—	CALL	92826C909
—	MORGAN STANLEY	20,100 (-53.5%)	$4 (-48.0%)	0.1%	—	—	PUT	617446958
—	INTERNATIONAL BUSINESS MACHS	57,100 (-19.4%)	$17 (-15.3%)	0.2%	—	—	CALL	459200901
—	ELI LILLY & CO	21,500 (-18.3%)	$23 (+15.1%)	0.3%	—	—	PUT	532457958
—	EXXON MOBIL CORP	65,400 (-32.1%)	$8 (-27.5%)	0.1%	—	—	PUT	30231G952
—	AMERICAN EXPRESS CO	88,500 (-17.7%)	$33 (-8.3%)	0.5%	—	—	PUT	025816959
—	SNOWFLAKE INC	235,500 (-2.6%)	$52 (-5.3%)	0.8%	—	—	CALL	833445909
—	GENERAL MTRS CO	26,700 (-67.8%)	$2 (-57.0%)	0.0%	—	—	CALL	37045V900
UAL	UNITED AIRLS HLDGS INC	7,795 (-79.7%)	$1 (-76.4%)	0.0%	$96.17	+5.1%	—	910047109
—	ZOOM COMMUNICATIONS INC	111,200 (-26.0%)	$10 (-22.6%)	0.1%	—	—	PUT	98980L951
—	KE HLDGS INC	196,300 (-35.6%)	$3 (-46.6%)	0.0%	—	—	PUT	482497954
C	CITIGROUP INC	4,905 (-84.6%)	$1 (-82.3%)	0.0%	$72.26	+43.4%	—	172967424
—	CLOUDFLARE INC	11,400 (-48.6%)	$2 (-52.8%)	0.0%	—	—	PUT	18915M957
TGT	TARGET CORP	2,209 (-92.7%)	$0 (-92.0%)	0.0%	$99.17	-7.6%	—	87612E106
VALE	VALE S A	30,251 (-87.7%)	$0 (-85.2%)	0.0%	$0.30	—	—	91912E105
—	VISTRA CORP	16,000 (-34.7%)	$3 (-46.2%)	0.0%	—	—	PUT	92840M952
FCX	FREEPORT-MCMORAN INC	4,258 (-93.1%)	$0 (-91.1%)	0.0%	$39.08	+10.8%	—	35671D857
—	SALESFORCE INC	76,200 (-18.8%)	$20 (-9.2%)	0.3%	—	—	PUT	79466L952
—	CARVANA CO	2,300 (-69.3%)	$1 (-65.7%)	0.0%	—	—	CALL	146869902
—	VERIZON COMMUNICATIONS INC	138,400 (-17.2%)	$6 (-23.3%)	0.1%	—	—	PUT	92343V954
—	AMERICAN INTL GROUP INC	9,300 (-70.8%)	$1 (-68.1%)	0.0%	—	—	PUT	026874954
—	FREEPORT-MCMORAN INC	337,500 (-14.6%)	$17 (+10.6%)	0.3%	—	—	PUT	35671D957
—	PFIZER INC	813,800 (-5.3%)	$20 (-7.4%)	0.3%	—	—	CALL	717081903
SOFI	SOFI TECHNOLOGIES INC	13,142 (-81.8%)	$0 (-82.0%)	0.0%	$13.47	+106.9%	—	83406F102
—	SNAP INC	200,000 (-50.0%)	$2 (-47.7%)	0.0%	—	—	PUT	83304A956
—	QUALCOMM INC	142,700 (-8.2%)	$24 (-5.6%)	0.4%	—	—	PUT	747525953
—	MARVELL TECHNOLOGY INC	337,000 (-5.7%)	$29 (-4.7%)	0.4%	—	—	CALL	573874904
—	NOVO-NORDISK A S	83,200 (-20.2%)	$4 (-24.6%)	0.1%	—	—	CALL	670100905
—	KE HLDGS INC	367,400 (-2.6%)	$6 (-19.3%)	0.1%	—	—	CALL	482497904
—	BARRICK MNG CORP	223,200 (-12.3%)	$10 (+16.5%)	0.1%	—	—	CALL	06849F908
—	SUPER MICRO COMPUTER INC	37,500 (-25.0%)	$1 (-54.2%)	0.0%	—	—	CALL	86800U902
—	NORWEGIAN CRUISE LINE HLDG L	446,400 (-1.7%)	$10 (-10.9%)	0.1%	—	—	PUT	G66721954
SMH	VANECK ETF TRUST	609 (-85.9%)	$0 (-84.5%)	0.0%	$0.22	—	—	92189F676
—	SNAP INC	100,000 (-60.0%)	$1 (-58.1%)	0.0%	—	—	CALL	83304A906
—	JPMORGAN CHASE & CO.	26,000 (-13.3%)	$8 (-11.5%)	0.1%	—	—	CALL	46625H900
—	ALPHABET INC	147,300 (-20.5%)	$46 (+2.4%)	0.7%	—	—	CALL	02079K907
B	BARRICK MNG CORP	15,859 (-67.0%)	$1 (-56.1%)	0.0%	$19.29	+94.0%	—	06849F108
QCOM	QUALCOMM INC	2,414 (-63.0%)	$0 (-61.9%)	0.0%	$157.20	+8.6%	—	747525103
—	ZOOM COMMUNICATIONS INC	54,500 (-15.9%)	$5 (-12.0%)	0.1%	—	—	CALL	98980L901
—	MORGAN STANLEY	10,100 (-33.1%)	$2 (-25.3%)	0.0%	—	—	CALL	617446908
PLTR	PALANTIR TECHNOLOGIES INC	3,234 (-42.9%)	$1 (-44.3%)	0.0%	$62.00	+192.0%	—	69608A108
—	NOVO-NORDISK A S	60,300 (-7.4%)	$3 (-12.6%)	0.0%	—	—	PUT	670100955
—	APPLIED MATLS INC	17,500 (-27.1%)	$4 (-8.5%)	0.1%	—	—	PUT	038222955
—	WALMART INC	128,900 (-10.0%)	$14 (-2.7%)	0.2%	—	—	CALL	931142903
SHOP	SHOPIFY INC	4,469 (-38.6%)	$1 (-33.5%)	0.0%	$113.72	+41.2%	—	82509L107
NKE	NIKE INC	7,520 (-35.9%)	$0 (-41.4%)	0.0%	$73.79	-12.0%	—	654106103
LLY	ELI LILLY & CO	189 (-67.7%)	$0 (-54.6%)	0.0%	$742.24	+28.7%	—	532457108
—	GRAB HOLDINGS LIMITED	20,400 (-58.6%)	$0 (-65.7%)	0.0%	—	—	CALL	G4124C909
PANW	PALO ALTO NETWORKS INC	2,164 (-22.1%)	$0 (-29.5%)	0.0%	$166.83	+20.9%	—	697435105
IBM	INTERNATIONAL BUSINESS MACHS	2,329 (-23.3%)	$1 (-19.5%)	0.0%	$249.42	+19.8%	—	459200101
TEVA	TEVA PHARMACEUTICAL INDS LTD	59,601 (-40.3%)	$2 (-7.8%)	0.0%	$0.02	—	—	881624209
HD	HOME DEPOT INC	1,781 (-5.8%)	$1 (-20.0%)	0.0%	$389.16	-6.3%	—	437076102
AMZN	AMAZON COM INC	1,623 (-28.2%)	$0 (-24.4%)	0.0%	$176.98	+29.3%	—	023135106
MU	MICRON TECHNOLOGY INC	3,837 (-35.7%)	$1 (+9.6%)	0.0%	$103.46	+121.7%	—	595112103
CAT	CATERPILLAR INC	3,338 (-18.6%)	$2 (-2.3%)	0.0%	$381.27	+45.7%	—	149123101
—	ON SEMICONDUCTOR CORP	60,000 (-7.7%)	$3 (+1.4%)	0.0%	—	—	PUT	682189955
—	DELTA AIR LINES INC DEL	296,800 (-18.1%)	$21 (+0.2%)	0.3%	—	—	PUT	247361952
ABNB	AIRBNB INC	2,980 (-4.8%)	$0 (+6.3%)	0.0%	$129.37	-3.7%	—	009066101
CRM	SALESFORCE INC	3,609 (-12.6%)	$1 (-2.3%)	0.0%	$251.43	-1.3%	—	79466L302
GOOG	ALPHABET INC	11,485 (-22.9%)	$4 (-0.6%)	0.1%	$167.93	+70.5%	—	02079K107
SCHW	SCHWAB CHARLES CORP	2,571 (-11.1%)	$0 (-6.9%)	0.0%	$94.54	+0.2%	—	808513105
CSCO	CISCO SYS INC	3,032 (-5.0%)	$0 (+7.3%)	0.0%	$60.38	+22.2%	—	17275R102
—	WARNER BROS DISCOVERY INC	29,600 (-31.3%)	$1 (+1.3%)	0.0%	—	—	CALL	934423904

Unchanged Positions (6)

— SHOPIFY INC 0.9%

Value ($000) $62 Shares 388,200 Est. Cost — Unrealized —

— WELLS FARGO CO NEW 0.6%

Value ($000) $42 Shares 453,800 Est. Cost — Unrealized —

— FUTU HLDGS LTD 0.3%

Value ($000) $19 Shares 113,100 Est. Cost — Unrealized —

— FUTU HLDGS LTD 0.1%

Value ($000) $9 Shares 52,000 Est. Cost — Unrealized —

— PFIZER INC 0.2%

Value ($000) $16 Shares 629,600 Est. Cost — Unrealized —

— BANCO BRADESCO S A 0.0%

Value ($000) $1 Shares 227,200 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	SHOPIFY INC	388,200	$62	0.9%	—	—	CALL	82509L907
—	WELLS FARGO CO NEW	453,800	$42	0.6%	—	—	PUT	949746951
—	FUTU HLDGS LTD	113,100	$19	0.3%	—	—	PUT	36118L956
—	FUTU HLDGS LTD	52,000	$9	0.1%	—	—	CALL	36118L906
—	PFIZER INC	629,600	$16	0.2%	—	—	PUT	717081953
—	BANCO BRADESCO S A	227,200	$1	0.0%	—	—	PUT	059460953