Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
QQQ	INVESCO QQQ TR	5,393,000	$3.99B	46.0%	$739.77	—	—	PUT	46090E103
IWM	ISHARES TR	2,477,700	$689M	7.9%	$277.89	—	—	PUT	464287655
SEI	SOLARIS ENERGY INFRAS INC	786,838	$56.01M	0.6%	$71.18	$60.91	+16.9%	COM CL A	83418M103
TLN	TALEN ENERGY CORP	150,000	$46.9M	0.5%	$312.69	$259.38	+20.6%	CALL	87422Q109
SHAZ	SHARONAI HOLDINGS INC	592,300	$32.34M	0.4%	$54.60	$50.55	+8.0%	CALL	778920306
SOC	SABLE OFFSHORE CORP	1,800,000	$6.228M	0.1%	$3.46	$8.47	-59.2%	CALL	78574H104
IREN	IREN LIMITED	74,500	$3.046M	0.0%	$40.88	$51.99	-21.4%	CALL	Q4982L109
APLD	APPLIED DIGITAL CORP	50,000	$1.218M	0.0%	$24.37	$28.05	-13.1%	COM NEW	038169207

Increased Positions (21)

CORZ CORE SCIENTIFIC INC NEW 2.1%

Value $183M (-21.0%) Shares 11,425,928 (+26.6%) Share Price $15.98 Est. Cost/Share $13.34 Unrealized @ Report Date +19.8%

WULF TERAWULF INC 0.9%

Value $78.07M (+85.9%) Shares 5,275,000 (+210.3%) Share Price $14.80 Est. Cost/Share $9.31 Unrealized @ Report Date +59.0%

FSLR FIRST SOLAR INC 0.8%

Value $66.21M (+119.2%) Shares 377,984 (+195.3%) Share Price $175.16 Est. Cost/Share $205.15 Unrealized @ Report Date -14.6%

IMVT IMMUNOVANT INC 1.8%

Value $156M (+28.4%) Shares 4,612,692 (+46.5%) Share Price $33.78 Est. Cost/Share $28.65 Unrealized @ Report Date +17.9%

ABVX ABIVAX SA 0.8%

Value $67M (+105.5%) Shares 676,589 (+176.6%) Share Price $99.02 Est. Cost/Share $117.88 Unrealized @ Report Date -16.0%

SOC SABLE OFFSHORE CORP 0.7%

Value $59.17M (+129.3%) Shares 17,101,876 (+104.1%) Share Price $3.46 Est. Cost/Share $8.47 Unrealized @ Report Date -59.2%

ROIV ROIVANT SCIENCES LTD 0.9%

Value $82.08M (+56.4%) Shares 2,244,400 (+51.4%) Share Price $36.57 Est. Cost/Share $7.68 Unrealized @ Report Date +376.3%

TDAY USA TODAY CO INC 1.1%

Value $91.23M (-24.2%) Shares 14,504,707 (+3.1%) Share Price $6.29 Est. Cost/Share $3.86 Unrealized @ Report Date +62.8%

TLN TALEN ENERGY CORP 1.9%

Value $167M (-14.1%) Shares 535,493 (+5.6%) Share Price $312.69 Est. Cost/Share $259.38 Unrealized @ Report Date +20.6%

FTAI FTAI AVIATION LTD 0.5%

Value $45.31M (-32.7%) Shares 271,260 (+9.0%) Share Price $167.03 Est. Cost/Share $165.62 Unrealized @ Report Date +0.9%

CIFR CIPHER DIGITAL INC 0.8%

Value $68.91M (+37.9%) Shares 4,354,745 (+113.5%) Share Price $15.83 Est. Cost/Share $16.56 Unrealized @ Report Date -4.4%

NKTR NEKTAR THERAPEUTICS 2.3%

Value $203M (-6.2%) Shares 3,345,978 (+8.2%) Share Price $60.54 Est. Cost/Share $63.25 Unrealized @ Report Date -4.3%

HUT HUT 8 CORP 0.3%

Value $29.96M (+64.2%) Shares 347,942 (+120.1%) Share Price $86.10 Est. Cost/Share $71.68 Unrealized @ Report Date +20.1%

WULF TERAWULF INC 0.6%

Value $50.09M (-18.7%) Shares 3,384,531 (+35.8%) Share Price $14.80 Est. Cost/Share $9.31 Unrealized @ Report Date +59.0%

INDV INDIVIOR PHARMACEUTICALS INC 1.5%

Value $132M (-7.8%) Shares 3,671,072 (+5.5%) Share Price $35.85 Est. Cost/Share $33.28 Unrealized @ Report Date +7.7%

SHC SOTERA HEALTH CO 1.3%

Value $113M (+9.1%) Shares 6,111,053 (+4.7%) Share Price $18.49 Est. Cost/Share $15.19 Unrealized @ Report Date +21.7%

CIFR CIPHER DIGITAL INC 0.5%

Value $40.51M (+14.3%) Shares 2,560,000 (+77.0%) Share Price $15.82 Est. Cost/Share $16.56 Unrealized @ Report Date -4.4%

SHAZ SHARONAI HOLDINGS INC 1.2%

Value $106M (-3.0%) Shares 1,945,876 (+50.4%) Share Price $54.60 Est. Cost/Share $50.55 Unrealized @ Report Date +8.0%

SATS ECHOSTAR CORP 0.6%

Value $48.7M (-4.6%) Shares 544,646 (+8.3%) Share Price $89.41 Est. Cost/Share $72.80 Unrealized @ Report Date —

XE X-ENERGY INC 0.2%

Value $19.77M (+7.7%) Shares 1,394,413 (+39.4%) Share Price $14.18 Est. Cost/Share $23.44 Unrealized @ Report Date -39.5%

STAA STAAR SURGICAL CO 0.3%

Value $29.51M (-3.4%) Shares 1,304,957 (+22.6%) Share Price $22.61 Est. Cost/Share $20.17 Unrealized @ Report Date +12.1%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CORZ	CORE SCIENTIFIC INC NEW	11,425,928 (+26.6%)	$183M (-21.0%)	2.1%	$15.98	$13.34	+19.8%	COM	21874A106
WULF	TERAWULF INC	5,275,000 (+210.3%)	$78.07M (+85.9%)	0.9%	$14.80	$9.31	+59.0%	CALL	88080T104
FSLR	FIRST SOLAR INC	377,984 (+195.3%)	$66.21M (+119.2%)	0.8%	$175.16	$205.15	-14.6%	COM	336433107
IMVT	IMMUNOVANT INC	4,612,692 (+46.5%)	$156M (+28.4%)	1.8%	$33.78	$28.65	+17.9%	COM	45258J102
ABVX	ABIVAX SA	676,589 (+176.6%)	$67M (+105.5%)	0.8%	$99.02	$117.88	-16.0%	SPONSORED ADS	00370M103
SOC	SABLE OFFSHORE CORP	17,101,876 (+104.1%)	$59.17M (+129.3%)	0.7%	$3.46	$8.47	-59.2%	COM SHS	78574H104
ROIV	ROIVANT SCIENCES LTD	2,244,400 (+51.4%)	$82.08M (+56.4%)	0.9%	$36.57	$7.68	+376.3%	CALL	G76279101
TDAY	USA TODAY CO INC	14,504,707 (+3.1%)	$91.23M (-24.2%)	1.1%	$6.29	$3.86	+62.8%	COM	36472T109
TLN	TALEN ENERGY CORP	535,493 (+5.6%)	$167M (-14.1%)	1.9%	$312.69	$259.38	+20.6%	COM	87422Q109
FTAI	FTAI AVIATION LTD	271,260 (+9.0%)	$45.31M (-32.7%)	0.5%	$167.03	$165.62	+0.9%	SHS	G3730V105
CIFR	CIPHER DIGITAL INC	4,354,745 (+113.5%)	$68.91M (+37.9%)	0.8%	$15.83	$16.56	-4.4%	COM	17253J106
NKTR	NEKTAR THERAPEUTICS	3,345,978 (+8.2%)	$203M (-6.2%)	2.3%	$60.54	$63.25	-4.3%	COM NEW	640268306
HUT	HUT 8 CORP	347,942 (+120.1%)	$29.96M (+64.2%)	0.3%	$86.10	$71.68	+20.1%	COM	44812J104
WULF	TERAWULF INC	3,384,531 (+35.8%)	$50.09M (-18.7%)	0.6%	$14.80	$9.31	+59.0%	COM	88080T104
INDV	INDIVIOR PHARMACEUTICALS INC	3,671,072 (+5.5%)	$132M (-7.8%)	1.5%	$35.85	$33.28	+7.7%	COM	45579U109
SHC	SOTERA HEALTH CO	6,111,053 (+4.7%)	$113M (+9.1%)	1.3%	$18.49	$15.19	+21.7%	COM	83601L102
CIFR	CIPHER DIGITAL INC	2,560,000 (+77.0%)	$40.51M (+14.3%)	0.5%	$15.82	$16.56	-4.4%	CALL	17253J106
SHAZ	SHARONAI HOLDINGS INC	1,945,876 (+50.4%)	$106M (-3.0%)	1.2%	$54.60	$50.55	+8.0%	COM CL A	778920306
SATS	ECHOSTAR CORP	544,646 (+8.3%)	$48.7M (-4.6%)	0.6%	$89.41	$72.80	—	CL A	278768106
XE	X-ENERGY INC	1,394,413 (+39.4%)	$19.77M (+7.7%)	0.2%	$14.18	$23.44	-39.5%	COM CL A	98386P102
STAA	STAAR SURGICAL CO	1,304,957 (+22.6%)	$29.51M (-3.4%)	0.3%	$22.61	$20.17	+12.1%	COM PAR $0.01	852312305

Exited Positions (8)

FSLR FIRST SOLAR INC 1.3%

Value $111M Shares 471,500 Share Price $235.96 * Est. Cost/Share $205.15 Unrealized @ Report Date -14.6%

ABVX ABIVAX SA 0.4%

Value $35.5M Shares 266,400 Share Price $133.26 * Est. Cost/Share $117.88 Unrealized @ Report Date -16.0%

BTDR BITDEER TECHNOLOGIES GROUP 0.4%

Value $30.43M Shares 1,917,500 Share Price $15.87 * Est. Cost/Share $10.52 Unrealized @ Report Date -0.3%

DAR DARLING INGREDIENTS INC 0.3%

Value $28.21M Shares 516,527 Share Price $54.62 * Est. Cost/Share $59.35 Unrealized @ Report Date +2.3%

BTDR BITDEER TECHNOLOGIES GROUP 0.3%

Value $23.8M Shares 1,500,000 Share Price $15.87 * Est. Cost/Share $10.52 Unrealized @ Report Date -0.3%

CRWV COREWEAVE INC 0.2%

Value $15.24M Shares 153,139 Share Price $99.54 * Est. Cost/Share $107.95 Unrealized @ Report Date -19.3%

SONO SONOS INC 0.1%

Value $9.615M Shares 710,612 Share Price $13.53 * Est. Cost/Share $15.06 Unrealized @ Report Date +18.8%

IREN IREN LIMITED 0.1%

Value $6.402M Shares 140,000 Share Price $45.73 * Est. Cost/Share $51.99 Unrealized @ Report Date -21.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FSLR	FIRST SOLAR INC	471,500	$111M	1.3%	$235.96 *	$205.15	-14.6%	CALL	336433107
ABVX	ABIVAX SA	266,400	$35.5M	0.4%	$133.26 *	$117.88	-16.0%	CALL	00370M103
BTDR	BITDEER TECHNOLOGIES GROUP	1,917,500	$30.43M	0.4%	$15.87 *	$10.52	-0.3%	CALL	G11448100
DAR	DARLING INGREDIENTS INC	516,527	$28.21M	0.3%	$54.62 *	$59.35	+2.3%	—	237266101
BTDR	BITDEER TECHNOLOGIES GROUP	1,500,000	$23.8M	0.3%	$15.87 *	$10.52	-0.3%	—	G11448100
CRWV	COREWEAVE INC	153,139	$15.24M	0.2%	$99.54 *	$107.95	-19.3%	—	21873S108
SONO	SONOS INC	710,612	$9.615M	0.1%	$13.53 *	$15.06	+18.8%	—	83570H108
IREN	IREN LIMITED	140,000	$6.402M	0.1%	$45.73 *	$51.99	-21.4%	—	Q4982L109

Decreased Positions (9)

SPY STATE STR SPDR S&P 500 ETF T 13.1%

Value $1.136B (-41.6%) Shares 1,490,000 (-42.8%) Share Price $762.63 Est. Cost/Share — Unrealized @ Report Date —

CORZ CORE SCIENTIFIC INC NEW 0.5%

Value $43.95M (-71.4%) Shares 2,750,000 (-54.2%) Share Price $15.98 Est. Cost/Share $13.34 Unrealized @ Report Date +19.8%

ABUS ARBUTUS BIOPHARMA CORP 0.4%

Value $38.93M (-57.5%) Shares 8,143,994 (-57.4%) Share Price $4.78 Est. Cost/Share $3.50 Unrealized @ Report Date +36.4%

CLMT CALUMET INC 3.2%

Value $277M (+16.0%) Shares 5,280,659 (-20.2%) Share Price $52.38 Est. Cost/Share $18.56 Unrealized @ Report Date +182.2%

QURE UNIQURE NV 0.4%

Value $31.99M (-51.8%) Shares 1,324,022 (-8.1%) Share Price $24.16 Est. Cost/Share $20.86 Unrealized @ Report Date +15.8%

ROIV ROIVANT SCIENCES LTD 3.1%

Value $268M (-10.7%) Shares 7,325,356 (-13.6%) Share Price $36.57 Est. Cost/Share $7.68 Unrealized @ Report Date +376.3%

QMCO QUANTUM CORP 0.5%

Value $47.29M (+72.8%) Shares 1,490,992 (-40.1%) Share Price $31.72 Est. Cost/Share $9.59 Unrealized @ Report Date +230.6%

VST VISTRA CORP 0.6%

Value $52.41M (-23.3%) Shares 378,854 (-12.0%) Share Price $138.35 Est. Cost/Share $140.32 Unrealized @ Report Date -1.4%

GLNG GOLAR LNG LTD 0.7%

Value $57.06M (-6.3%) Shares 1,200,679 (-1.7%) Share Price $47.52 Est. Cost/Share $39.28 Unrealized @ Report Date +21.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	1,490,000 (-42.8%)	$1.136B (-41.6%)	13.1%	$762.63	—	—	PUT	78462F103
CORZ	CORE SCIENTIFIC INC NEW	2,750,000 (-54.2%)	$43.95M (-71.4%)	0.5%	$15.98	$13.34	+19.8%	CALL	21874A106
ABUS	ARBUTUS BIOPHARMA CORP	8,143,994 (-57.4%)	$38.93M (-57.5%)	0.4%	$4.78	$3.50	+36.4%	COM	03879J100
CLMT	CALUMET INC	5,280,659 (-20.2%)	$277M (+16.0%)	3.2%	$52.38	$18.56	+182.2%	COM	131428104
QURE	UNIQURE NV	1,324,022 (-8.1%)	$31.99M (-51.8%)	0.4%	$24.16	$20.86	+15.8%	SHS	N90064101
ROIV	ROIVANT SCIENCES LTD	7,325,356 (-13.6%)	$268M (-10.7%)	3.1%	$36.57	$7.68	+376.3%	SHS	G76279101
QMCO	QUANTUM CORP	1,490,992 (-40.1%)	$47.29M (+72.8%)	0.5%	$31.72	$9.59	+230.6%	COM	747906600
VST	VISTRA CORP	378,854 (-12.0%)	$52.41M (-23.3%)	0.6%	$138.35	$140.32	-1.4%	COM	92840M102
GLNG	GOLAR LNG LTD	1,200,679 (-1.7%)	$57.06M (-6.3%)	0.7%	$47.52	$39.28	+21.0%	SHS	G9456A100

Unchanged Positions (9)

SPCX SPACE EXPLORATION TECHN CORP 0.4%

Value $31.51M Shares 208,890 Share Price $150.86 Est. Cost/Share $170.68 Unrealized @ Report Date -11.6%

CORZW CORE SCIENTIFIC INC NEW 0.0%

Value $2.687M Shares 289,539 Share Price $9.28 Est. Cost/Share $2.92 Unrealized @ Report Date —

LUCD LUCID DIAGNOSTICS INC 0.1%

Value $4.506M Shares 6,000,000 Share Price $0.75 Est. Cost/Share $1.08 Unrealized @ Report Date -30.8%

FRMI FERMI INC 0.0%

Value $1.485M Shares 352,671 Share Price $4.21 Est. Cost/Share $6.50 Unrealized @ Report Date -35.2%

MSOS ADVISORSHARES TR 0.1%

Value $10.06M Shares 2,225,300 Share Price $4.52 Est. Cost/Share — Unrealized @ Report Date —

PAVM PAVMED INC 0.0%

Value $1.703M Shares 461,539 Share Price $3.69 Est. Cost/Share $9.47 Unrealized @ Report Date -61.0%

OMEX ODYSSEY MARINE EXPL INC 0.0%

Value $3.778M Shares 5,592,985 Share Price $0.68 Est. Cost/Share $1.46 Unrealized @ Report Date -53.8%

GLNG GOLAR LNG LTD 0.1%

Value $11.88M Shares 250,000 Share Price $47.52 Est. Cost/Share $39.28 Unrealized @ Report Date +21.0%

CORZZ CORE SCIENTIFIC INC NEW 0.0%

Value $389K Shares 24,107 Share Price $16.14 Est. Cost/Share $17.16 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPCX	SPACE EXPLORATION TECHN CORP	208,890	$31.51M	0.4%	$150.86	$170.68	-11.6%	CLASS A COM STK	84615Q103
CORZW	CORE SCIENTIFIC INC NEW	289,539	$2.687M	0.0%	$9.28	$2.92	—	*W EXP 01/23/202	21874A114
LUCD	LUCID DIAGNOSTICS INC	6,000,000	$4.506M	0.1%	$0.75	$1.08	-30.8%	COM	54948X109
FRMI	FERMI INC	352,671	$1.485M	0.0%	$4.21	$6.50	-35.2%	COM	314911108
MSOS	ADVISORSHARES TR	2,225,300	$10.06M	0.1%	$4.52	—	—	CALL	00768Y453
PAVM	PAVMED INC	461,539	$1.703M	0.0%	$3.69	$9.47	-61.0%	COM	70387R502
OMEX	ODYSSEY MARINE EXPL INC	5,592,985	$3.778M	0.0%	$0.68	$1.46	-53.8%	COM NEW	676118201
GLNG	GOLAR LNG LTD	250,000	$11.88M	0.1%	$47.52	$39.28	+21.0%	CALL	G9456A100
CORZZ	CORE SCIENTIFIC INC NEW	24,107	$389K	0.0%	$16.14	$17.16	—	*W EXP 01/23/202	21874A130