Sandia Investment Management LP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RGR	STURM RUGER & CO INC	26,485	$865	2.2%	$37.06	0.0%	COM	864159108
MDLN	MEDLINE INC	20,000	$840	2.1%	$42.23	0.0%	COM CL A	58507V107
ALH	ALLIANCE LAUNDRY HLDGS INC	39,522	$804	2.0%	$24.03	0.0%	COM	01862Q107
SVAQU	SILICON VY ACQUISITION CORP	75,000	$746	1.9%	$9.95	—	UNIT 12/08/2030	G81306105
ULS	UL SOLUTIONS INC	6,535	$515	1.3%	$80.28	0.0%	CLASS A COM SHS	903731107
CEPV	CANTOR EQUITY PARTNERS V INC	50,000	$513	1.3%	$10.25	0.0%	SHS CL A S	G1828S109
AIIA/U	AI INFRASTRUCTURE ACQUISI	50,000	$509	1.3%	$10.18	—	UNIT 99/99/9999	G01336125
VHCPU	VINE HILL CAP INVTS CORP II	50,000	$501	1.2%	$10.02	—	UNIT 11/25/2030	G9709D125
HCACU	HALL CHADWICK ACQUISITION CO	50,000	$501	1.2%	$10.02	—	UNIT 11/20/2030	G42386121
BLRKU	BLUEROCK ACQUISITION CORP	50,000	$500	1.2%	$10.00	—	UNIT 11/06/2030	G1352R121
ITHAU	ITHAX ACQUISITION CORP III	50,000	$499	1.2%	$9.97	—	UNIT 11/17/2030	G4977S128
BIXIU	BITCOIN INFRASTRUCTURE ACQUI	50,000	$498	1.2%	$9.96	—	UNIT 11/06/2030	G1143H127
BEBE/U	TGE VALUE CREATIVE SOLUTIONS	50,000	$497	1.2%	$9.94	—	UNIT 99/99/9999	G8773E126
IGACU	INVEST GREEN ACQUISITION COR	47,000	$471	1.2%	$10.03	—	UNIT 11/04/2030	G4924G128
YCY/U	AA MISSION ACQUISITION CORP	44,700	$451	1.1%	$10.09	—	UNIT 07/23/2032	G1000S117
SBXE/U	SILVERBOX CORP V	43,150	$434	1.1%	$10.06	—	UNIT 99/99/9999	G8148S123
ITT	ITT INC	2,500	$434	1.1%	$179.17	0.0%	COM	45073V108
BTSG	BRIGHTSPRING HEALTH SVCS INC	10,000	$375	0.9%	$33.54	0.0%	COM	10950A106
VACI/U	VIKING ACQUISITION CORP I	35,000	$352	0.9%	$10.07	—	UNIT 99/99/9999	G9582G120
NP	NEPTUNE INS HLDGS INC	10,500	$306	0.8%	$26.30	0.0%	CL A	64073B103
COHR	COHERENT CORP	1,500	$277	0.7%	$149.58	0.0%	COM	19247G107
KBONU	KARBON CAP PARTNERS CORP	25,000	$252	0.6%	$10.06	—	UNIT 12/11/2030	G5225W126
TDWDU	TAILWIND 2.0 ACQUISITION COR	25,000	$252	0.6%	$10.06	—	UNIT 11/07/2030	G8662J103
MESHU	MESHFLOW ACQUISITION CORP	25,000	$250	0.6%	$10.00	—	UNIT 11/19/2030	G6032N127
AERO	GRUPO AEROMEXICO SAB DE CV	10,000	$220	0.5%	$21.96	—	SPONSORED ADS	40054J109
IMNM	IMMUNOME INC	10,000	$215	0.5%	$17.55	0.0%	COM	45257U108
CTGO	CONTANGO ORE INC	7,630	$202	0.5%	$24.47	0.0%	COM	21077F100
CRANU	CRANE HBR ACQUISITION CORP I	20,000	$201	0.5%	$10.07	—	UNIT 12/09/2030	G25014120
DLHC	DLH HLDGS CORP	34,806	$197	0.5%	$5.82	0.0%	COM	23335Q100
LMRI	LUMEXA IMAGING HOLDINGS INC	10,000	$185	0.5%	$18.05	0.0%	COM	550249106
PXED	PHOENIX ED PARTNERS INC	5,302	$161	0.4%	$33.28	0.0%	COM	718968100
ALUB/U	ALUSSA ENERGY ACQUISITION CO	15,000	$152	0.4%	$10.10	—	UNIT 99/99/9999	G0233J126
DYORU	INSIGHT DIGITAL PARTNERS II	14,935	$150	0.4%	$10.07	—	UNIT 10/28/2030	G4814G121
DNMXU	DYNAMIX CORP III	14,835	$149	0.4%	$10.05	—	UNIT 10/09/2030	G2949T125
GRVY	GRAVITY CO LTD	2,460	$142	0.4%	$57.87	—	SPONSORED ADS NE	38911N206
VERA	VERA THERAPEUTICS INC	2,500	$127	0.3%	$35.52	0.0%	CL A	92337R101
GROW	U S GLOBAL INVS INC	43,793	$106	0.3%	$2.49	0.0%	CL A	902952100
MDU	MDU RES GROUP INC	5,000	$98	0.2%	$19.57	0.0%	COM	552690109
NLOP	NET LEASE OFFICE PROPERTIES	3,339	$86	0.2%	$25.79	—	COM	64110Y108
WLTH	WEALTHFRONT CORP	3,269	$44	0.1%	$13.20	0.0%	COM	947002101
OGE	OGE ENERGY CORP	1,000	$43	0.1%	$44.60	0.0%	COM	670837103
BETA	BETA TECHNOLOGIES INC	905	$26	0.1%	$29.84	0.0%	COM SHS CL A	086921103
KMTS	KESTRA MED TECHNOLOGIES LTD	653	$17	0.0%	$25.75	0.0%	SHS	G52441105
RSVRW	RESERVOIR MEDIA INC	8,695	$2	0.0%	$0.28	—	*W EXP 08/26/202	76119X113

Increased Positions (18)

HYAC HAYMAKER ACQUISITION CORP IV 9.9%

Value ($000) $3,983 (+75.6%) Shares 349,987 (+75.0%) Est. Cost $11.01 Unrealized +2.9%

LGN LEGENCE CORP 2.1%

Value ($000) $854 (+177.3%) Shares 19,850 (+98.5%) Est. Cost $35.47 Unrealized +11.4%

NTSK NETSKOPE INC 1.7%

Value ($000) $702 (+208.7%) Shares 40,000 (+300.0%) Est. Cost $21.59 Unrealized -3.4%

CAI CARIS LIFE SCIENCES INC 1.6%

Value ($000) $637 (+144.8%) Shares 23,600 (+174.4%) Est. Cost $27.72 Unrealized +1.6%

BLSH BULLISH 0.9%

Value ($000) $379 (+2876.7%) Shares 10,000 (+4900.0%) Est. Cost $48.96 Unrealized -0.5%

MIAX MIAMI INTL HLDGS INC 1.4%

Value ($000) $577 (+117.1%) Shares 13,000 (+97.0%) Est. Cost $40.53 Unrealized +10.0%

HTFL HEARTFLOW INC 1.2%

Value ($000) $464 (+83.8%) Shares 15,917 (+112.2%) Est. Cost $32.21 Unrealized -0.1%

FIG FIGMA INC 0.7%

Value ($000) $262 (+404.3%) Shares 7,000 (+600.0%) Est. Cost $48.54 Unrealized -6.9%

CRCL CIRCLE INTERNET GROUP INC 1.0%

Value ($000) $397 (+99.4%) Shares 5,000 (+233.3%) Est. Cost $119.81 Unrealized -13.7%

WBI WATERBRIDGE INFRASTRUCTURE L 2.0%

Value ($000) $800 (+26.9%) Shares 40,000 (+60.0%) Est. Cost $23.35 Unrealized -0.7%

CRBG COREBRIDGE FINL INC 0.8%

Value ($000) $302 (+88.3%) Shares 10,000 (+100.0%) Est. Cost $27.14 Unrealized +12.6%

GTEN GORES HLDGS X INC 1.6%

Value ($000) $632 (+23.4%) Shares 61,632 (+23.0%) Est. Cost $10.24 Unrealized +0.8%

FIGR FIGURE TECHNOLOGY SOLUTIO 1.0%

Value ($000) $408 (+32.1%) Shares 10,000 (+17.6%) Est. Cost $39.02 Unrealized +2.5%

CTRI CENTURI HOLDINGS INC 0.9%

Value ($000) $379 (+33.5%) Shares 15,000 (+11.9%) Est. Cost $21.83 Unrealized +2.4%

BRCB BLACK ROCK COFFEE BAR INC 1.1%

Value ($000) $445 (+24.3%) Shares 20,000 (+33.3%) Est. Cost $25.40 Unrealized -8.7%

JAKK JAKKS PAC INC 0.7%

Value ($000) $274 (+32.9%) Shares 16,236 (+47.5%) Est. Cost $23.06 Unrealized -25.6%

KLAR KLARNA GROUP PLC 0.9%

Value ($000) $359 (-11.1%) Shares 12,404 (+12.8%) Est. Cost $41.65 Unrealized -17.6%

OMCC OLD MKT CAP CORP 0.5%

Value ($000) $210 (+13.6%) Shares 40,491 (+13.0%) Est. Cost $6.00 Unrealized -12.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYAC	HAYMAKER ACQUISITION CORP IV	349,987 (+75.0%)	$3,983 (+75.6%)	9.9%	$11.01	+2.9%	CLASS A	G4375F108
LGN	LEGENCE CORP	19,850 (+98.5%)	$854 (+177.3%)	2.1%	$35.47	+11.4%	CL A	52476L109
NTSK	NETSKOPE INC	40,000 (+300.0%)	$702 (+208.7%)	1.7%	$21.59	-3.4%	CL A	64119N608
CAI	CARIS LIFE SCIENCES INC	23,600 (+174.4%)	$637 (+144.8%)	1.6%	$27.72	+1.6%	COM	142152107
BLSH	BULLISH	10,000 (+4900.0%)	$379 (+2876.7%)	0.9%	$48.96	-0.5%	ORD SHS	G16910120
MIAX	MIAMI INTL HLDGS INC	13,000 (+97.0%)	$577 (+117.1%)	1.4%	$40.53	+10.0%	COM	59356Q108
HTFL	HEARTFLOW INC	15,917 (+112.2%)	$464 (+83.8%)	1.2%	$32.21	-0.1%	COM	42238D107
FIG	FIGMA INC	7,000 (+600.0%)	$262 (+404.3%)	0.7%	$48.54	-6.9%	CLASS A COM STK	316841105
CRCL	CIRCLE INTERNET GROUP INC	5,000 (+233.3%)	$397 (+99.4%)	1.0%	$119.81	-13.7%	COM CL A	172573107
WBI	WATERBRIDGE INFRASTRUCTURE L	40,000 (+60.0%)	$800 (+26.9%)	2.0%	$23.35	-0.7%	CL A SHS REPSTG	940923105
CRBG	COREBRIDGE FINL INC	10,000 (+100.0%)	$302 (+88.3%)	0.8%	$27.14	+12.6%	COM	21871X109
GTEN	GORES HLDGS X INC	61,632 (+23.0%)	$632 (+23.4%)	1.6%	$10.24	+0.8%	SHS CL A	G4002F109
FIGR	FIGURE TECHNOLOGY SOLUTIO	10,000 (+17.6%)	$408 (+32.1%)	1.0%	$39.02	+2.5%	COM CL A	349381103
CTRI	CENTURI HOLDINGS INC	15,000 (+11.9%)	$379 (+33.5%)	0.9%	$21.83	+2.4%	COM SHS	155923105
BRCB	BLACK ROCK COFFEE BAR INC	20,000 (+33.3%)	$445 (+24.3%)	1.1%	$25.40	-8.7%	CL A	092244102
JAKK	JAKKS PAC INC	16,236 (+47.5%)	$274 (+32.9%)	0.7%	$23.06	-25.6%	COM NEW	47012E403
KLAR	KLARNA GROUP PLC	12,404 (+12.8%)	$359 (-11.1%)	0.9%	$41.65	-17.6%	SHS	G5279N105
OMCC	OLD MKT CAP CORP	40,491 (+13.0%)	$210 (+13.6%)	0.5%	$6.00	-12.7%	COM	65373A109

Exited Positions (22)

BULL WEBULL CORP 2.4%

Value ($000) $954 Shares 64,497 Est. Cost $14.98 Unrealized -32.9%

BACQ BLEICHROEDER ACQUISITION COR 2.3%

Value ($000) $910 Shares 87,500 Est. Cost $10.36 Unrealized +5.0%

AAM AA MISSION ACQUISITION CORP 1.3%

Value ($000) $526 Shares 50,000 Est. Cost $10.47 Unrealized +1.1%

FTW EQV VENTURES ACQUISITION COR 1.3%

Value ($000) $519 Shares 50,000 Est. Cost $10.32 Unrealized +1.2%

NUVL NUVALENT INC 1.2%

Value ($000) $476 Shares 5,500 Est. Cost $88.17 Unrealized +11.8%

SRG SERITAGE GROWTH PPTYS 1.0%

Value ($000) $399 Shares 93,887 Est. Cost $3.89 Unrealized -2.6%

NIQ NIQ GLOBAL INTELLIGENCE PLC 0.9%

Value ($000) $353 Shares 22,500 Est. Cost $17.40 Unrealized -15.9%

SEG SEAPORT ENTMT GROUP INC 0.8%

Value ($000) $305 Shares 13,311 Est. Cost $19.18 Unrealized +16.8%

PRTA PROTHENA CORP PLC 0.7%

Value ($000) $292 Shares 29,950 Est. Cost $7.69 Unrealized +32.4%

POLE ANDRETTI ACQUISITION CORP II 0.7%

Value ($000) $262 Shares 25,000 Est. Cost $10.27 Unrealized +2.7%

MACI MELAR ACQUISITION CORP. I 0.6%

Value ($000) $249 Shares 23,711 Est. Cost $10.51 Unrealized +0.6%

MH MCGRAW HILL INC 0.5%

Value ($000) $188 Shares 15,000 Est. Cost $14.51 Unrealized +0.0%

KSPI KASPI KZ JSC 0.4%

Value ($000) $178 Shares 2,175 Est. Cost $81.68 Unrealized —

SVIRF SPRING VALLEY ACQUISTN CORP 0.4%

Value ($000) $177 Shares 339,645 Est. Cost $0.15 Unrealized —

DMAA DRUGS MADE IN AMER ACQUTN CO 0.4%

Value ($000) $161 Shares 15,721 Est. Cost $10.26 Unrealized +0.7%

— COLUMBUS CIRCLE CAP CORP. I 0.4%

Value ($000) $160 Shares 15,000 Est. Cost $11.46 Unrealized —

MBAV M3BRIGADE ACQUISITION V CORP 0.4%

Value ($000) $158 Shares 15,000 Est. Cost $10.96 Unrealized -3.1%

VG VENTURE GLOBAL INC 0.4%

Value ($000) $142 Shares 10,000 Est. Cost $14.48 Unrealized -42.6%

CHAC CRANE HBR ACQUISITION CORP 0.3%

Value ($000) $121 Shares 11,921 Est. Cost $10.05 Unrealized +10.9%

KDP KEURIG DR PEPPER INC 0.2%

Value ($000) $64 Shares 2,500 Est. Cost $31.50 Unrealized -13.5%

MBAVW M3BRIGADE ACQUISITION V CORP 0.0%

Value ($000) $15 Shares 12,191 Est. Cost $1.75 Unrealized —

ALDFW ALDEL FINL II INC 0.0%

Value ($000) $5 Shares 10,000 Est. Cost $0.52 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BULL	WEBULL CORP	64,497	$954	2.4%	$14.98	-32.9%	—	G9572D103
BACQ	BLEICHROEDER ACQUISITION COR	87,500	$910	2.3%	$10.36	+5.0%	—	G1169T104
AAM	AA MISSION ACQUISITION CORP	50,000	$526	1.3%	$10.47	+1.1%	—	G1000R101
FTW	EQV VENTURES ACQUISITION COR	50,000	$519	1.3%	$10.32	+1.2%	—	G3106N109
NUVL	NUVALENT INC	5,500	$476	1.2%	$88.17	+11.8%	—	670703107
SRG	SERITAGE GROWTH PPTYS	93,887	$399	1.0%	$3.89	-2.6%	—	81752R100
NIQ	NIQ GLOBAL INTELLIGENCE PLC	22,500	$353	0.9%	$17.40	-15.9%	—	G63755105
SEG	SEAPORT ENTMT GROUP INC	13,311	$305	0.8%	$19.18	+16.8%	—	812215200
PRTA	PROTHENA CORP PLC	29,950	$292	0.7%	$7.69	+32.4%	—	G72800108
POLE	ANDRETTI ACQUISITION CORP II	25,000	$262	0.7%	$10.27	+2.7%	—	G26745102
MACI	MELAR ACQUISITION CORP. I	23,711	$249	0.6%	$10.51	+0.6%	—	G6004G100
MH	MCGRAW HILL INC	15,000	$188	0.5%	$14.51	+0.0%	—	580907103
KSPI	KASPI KZ JSC	2,175	$178	0.4%	$81.68	—	—	48581R205
SVIRF	SPRING VALLEY ACQUISTN CORP	339,645	$177	0.4%	$0.15	—	—	G83752132
DMAA	DRUGS MADE IN AMER ACQUTN CO	15,721	$161	0.4%	$10.26	+0.7%	—	G2847J104
—	COLUMBUS CIRCLE CAP CORP. I	15,000	$160	0.4%	$11.46	—	—	G2296A125
MBAV	M3BRIGADE ACQUISITION V CORP	15,000	$158	0.4%	$10.96	-3.1%	—	G63212107
VG	VENTURE GLOBAL INC	10,000	$142	0.4%	$14.48	-42.6%	—	92333F101
CHAC	CRANE HBR ACQUISITION CORP	11,921	$121	0.3%	$10.05	+10.9%	—	G24979109
KDP	KEURIG DR PEPPER INC	2,500	$64	0.2%	$31.50	-13.5%	—	49271V100
MBAVW	M3BRIGADE ACQUISITION V CORP	12,191	$15	0.0%	$1.75	—	—	G63212115
ALDFW	ALDEL FINL II INC	10,000	$5	0.0%	$0.52	—	—	G01558124

Decreased Positions (39)

FACT FACT II ACQUISITION CORP 0.6%

Value ($000) $260 (-79.8%) Shares 25,000 (-80.0%) Est. Cost $10.15 Unrealized +2.0%

BEAG BOLD EAGLE ACQUISITION CORP 3.1%

Value ($000) $1,245 (-33.8%) Shares 117,662 (-34.9%) Est. Cost $10.27 Unrealized +3.6%

LOKV LIVE OAK ACQUISITION CORP V 1.3%

Value ($000) $515 (-49.5%) Shares 50,000 (-50.0%) Est. Cost $10.26 Unrealized +0.1%

LOAR LOAR HOLDINGS INC 0.4%

Value ($000) $158 (-73.7%) Shares 2,321 (-69.0%) Est. Cost $86.55 Unrealized -15.8%

SFD SMITHFIELD FOODS INC 0.6%

Value ($000) $223 (-62.0%) Shares 10,000 (-60.0%) Est. Cost $20.44 Unrealized +7.0%

WAY WAYSTAR HLDG CORP 0.5%

Value ($000) $215 (-62.3%) Shares 6,550 (-56.3%) Est. Cost $36.75 Unrealized -3.1%

OTGAU OTG ACQUISITION CORP. I 0.6%

Value ($000) $255 (-50.0%) Shares 25,000 (-50.6%) Est. Cost $10.07 Unrealized —

SAIL SAILPOINT INC 0.5%

Value ($000) $199 (-54.9%) Shares 9,837 (-50.8%) Est. Cost $21.79 Unrealized -4.3%

ETOR ETORO GROUP LTD 0.4%

Value ($000) $176 (-57.4%) Shares 5,000 (-50.0%) Est. Cost $64.04 Unrealized -39.7%

OMDA OMADA HEALTH INC 0.3%

Value ($000) $140 (-57.9%) Shares 8,843 (-41.0%) Est. Cost $17.31 Unrealized +17.2%

GEMI GEMINI SPACE STA INC 0.1%

Value ($000) $45 (-80.1%) Shares 4,563 (-52.0%) Est. Cost $25.81 Unrealized -39.6%

KGS KODIAK GAS SVCS INC 0.9%

Value ($000) $374 (-32.6%) Shares 10,000 (-33.3%) Est. Cost $34.60 Unrealized +2.2%

COGT COGENT BIOSCIENCES INC 0.1%

Value ($000) $36 (-83.5%) Shares 1,000 (-93.3%) Est. Cost $11.85 Unrealized +137.3%

KRMN KARMAN HLDGS INC 0.5%

Value ($000) $183 (-49.3%) Shares 2,500 (-50.0%) Est. Cost $32.27 Unrealized +124.4%

ATEX ANTERIX INC 1.1%

Value ($000) $437 (-25.6%) Shares 20,000 (-26.8%) Est. Cost $22.42 Unrealized -7.4%

CLAR CLARUS CORP NEW 0.3%

Value ($000) $101 (-58.4%) Shares 30,000 (-56.5%) Est. Cost $4.60 Unrealized -26.2%

PACS PACS GROUP INC 0.7%

Value ($000) $288 (+67.8%) Shares 7,500 (-40.0%) Est. Cost $33.31 Unrealized -34.1%

SARO STANDARDAERO INC 1.1%

Value ($000) $430 (-21.2%) Shares 15,000 (-25.0%) Est. Cost $27.85 Unrealized -2.2%

VOYG VOYAGER TECHNOLOGIES INC 0.2%

Value ($000) $65 (-60.1%) Shares 2,500 (-54.5%) Est. Cost $35.78 Unrealized -24.2%

ASIC ATEGRITY SPECIALTY IN CO HO 0.5%

Value ($000) $216 (-28.5%) Shares 10,300 (-32.7%) Est. Cost $21.63 Unrealized -12.6%

ALDF ALDEL FINL II INC 0.8%

Value ($000) $315 (-19.7%) Shares 30,000 (-20.0%) Est. Cost $10.32 Unrealized +1.7%

FLY FIREFLY AEROSPACE INC 0.2%

Value ($000) $72 (-51.1%) Shares 3,205 (-35.9%) Est. Cost $44.96 Unrealized -48.5%

FCRS/U FUTURECREST ACQUISITION CORP 0.1%

Value ($000) $41 (-61.4%) Shares 4,000 (-60.0%) Est. Cost $10.60 Unrealized —

KVYO KLAVIYO INC 0.5%

Value ($000) $212 (-23.4%) Shares 6,534 (-34.7%) Est. Cost $31.68 Unrealized -11.6%

BDCIU BTC DEV CORP 0.4%

Value ($000) $152 (-24.8%) Shares 15,000 (-25.0%) Est. Cost $10.11 Unrealized —

GCTS/WS GCT SEMICONDUCTOR HLDG INC 0.1%

Value ($000) $26 (-64.9%) Shares 349,398 (-12.7%) Est. Cost $0.13 Unrealized —

TLNCU TALON CAP CORP 0.5%

Value ($000) $206 (-17.8%) Shares 20,000 (-19.7%) Est. Cost $10.05 Unrealized —

HYAC/WS HAYMAKER ACQUISITION CORP IV 0.3%

Value ($000) $102 (+40.9%) Shares 66,002 (-59.4%) Est. Cost $0.17 Unrealized —

CHYM CHIME FINL INC 0.8%

Value ($000) $315 (+4.0%) Shares 12,500 (-16.7%) Est. Cost $32.95 Unrealized -35.5%

CAEP CANTOR EQUITY PARTNERS III I 0.3%

Value ($000) $105 (-9.4%) Shares 10,311 (-8.3%) Est. Cost $10.53 Unrealized -1.5%

FACTW FACT II ACQUISITION CORP 0.0%

Value ($000) $9 (-50.0%) Shares 25,000 (-60.0%) Est. Cost $0.27 Unrealized —

SLDE SLIDE INS HLDGS INC 0.6%

Value ($000) $229 (+3.6%) Shares 11,748 (-16.1%) Est. Cost $21.55 Unrealized -22.6%

BEAGR BOLD EAGLE ACQUISITION CORP 0.1%

Value ($000) $47 (+17.2%) Shares 148,300 (-1.1%) Est. Cost $0.31 Unrealized —

BACCU BLUE ACQUISITION CORP. 0.5%

Value ($000) $208 (+2.9%) Shares 19,741 (-1.3%) Est. Cost $10.04 Unrealized —

— AA MISSION ACQUISITION CORP 0.0%

Value ($000) $7 (-45.2%) Shares 38,725 (-48.4%) Est. Cost $0.16 Unrealized —

LOKVW LIVE OAK ACQUISITION CORP V 0.1%

Value ($000) $29 (+20.2%) Shares 29,294 (-40.8%) Est. Cost $0.70 Unrealized —

FTW/WS EQV VENTURES ACQUISITION COR 0.0%

Value ($000) $7 (-33.9%) Shares 13,779 (-31.1%) Est. Cost $0.73 Unrealized —

COCHW ENVOY MEDICAL INC 0.0%

Value ($000) $20 (-9.7%) Shares 514,702 (-12.7%) Est. Cost $0.05 Unrealized —

POLEW ANDRETTI ACQUISITION CORP II 0.0%

Value ($000) $4 (+8.0%) Shares 14,970 (-25.1%) Est. Cost $0.20 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FACT	FACT II ACQUISITION CORP	25,000 (-80.0%)	$260 (-79.8%)	0.6%	$10.15	+2.0%	ORD SHS CL A	G32901103
BEAG	BOLD EAGLE ACQUISITION CORP	117,662 (-34.9%)	$1,245 (-33.8%)	3.1%	$10.27	+3.6%	CL A	G2003N105
LOKV	LIVE OAK ACQUISITION CORP V	50,000 (-50.0%)	$515 (-49.5%)	1.3%	$10.26	+0.1%	CL A SHS	G5509P102
LOAR	LOAR HOLDINGS INC	2,321 (-69.0%)	$158 (-73.7%)	0.4%	$86.55	-15.8%	COM SHS	53947R105
SFD	SMITHFIELD FOODS INC	10,000 (-60.0%)	$223 (-62.0%)	0.6%	$20.44	+7.0%	COM	832248207
WAY	WAYSTAR HLDG CORP	6,550 (-56.3%)	$215 (-62.3%)	0.5%	$36.75	-3.1%	COM	946784105
OTGAU	OTG ACQUISITION CORP. I	25,000 (-50.6%)	$255 (-50.0%)	0.6%	$10.07	—	UNIT 09/05/2030	G6791A126
SAIL	SAILPOINT INC	9,837 (-50.8%)	$199 (-54.9%)	0.5%	$21.79	-4.3%	COM	78781J109
ETOR	ETORO GROUP LTD	5,000 (-50.0%)	$176 (-57.4%)	0.4%	$64.04	-39.7%	SHS CL A	G32089107
OMDA	OMADA HEALTH INC	8,843 (-41.0%)	$140 (-57.9%)	0.3%	$17.31	+17.2%	COM	68170A108
GEMI	GEMINI SPACE STA INC	4,563 (-52.0%)	$45 (-80.1%)	0.1%	$25.81	-39.6%	CL A COM	36866J105
KGS	KODIAK GAS SVCS INC	10,000 (-33.3%)	$374 (-32.6%)	0.9%	$34.60	+2.2%	COM	50012A108
COGT	COGENT BIOSCIENCES INC	1,000 (-93.3%)	$36 (-83.5%)	0.1%	$11.85	+137.3%	COM	19240Q201
KRMN	KARMAN HLDGS INC	2,500 (-50.0%)	$183 (-49.3%)	0.5%	$32.27	+124.4%	COMMON STOCK	485924104
ATEX	ANTERIX INC	20,000 (-26.8%)	$437 (-25.6%)	1.1%	$22.42	-7.4%	COM	03676C100
CLAR	CLARUS CORP NEW	30,000 (-56.5%)	$101 (-58.4%)	0.3%	$4.60	-26.2%	COM	18270P109
PACS	PACS GROUP INC	7,500 (-40.0%)	$288 (+67.8%)	0.7%	$33.31	-34.1%	COM SHS	69380Q107
SARO	STANDARDAERO INC	15,000 (-25.0%)	$430 (-21.2%)	1.1%	$27.85	-2.2%	COM	85423L103
VOYG	VOYAGER TECHNOLOGIES INC	2,500 (-54.5%)	$65 (-60.1%)	0.2%	$35.78	-24.2%	COM CL A	92892B103
ASIC	ATEGRITY SPECIALTY IN CO HO	10,300 (-32.7%)	$216 (-28.5%)	0.5%	$21.63	-12.6%	COM	04681Y103
ALDF	ALDEL FINL II INC	30,000 (-20.0%)	$315 (-19.7%)	0.8%	$10.32	+1.7%	CL A	G01558108
FLY	FIREFLY AEROSPACE INC	3,205 (-35.9%)	$72 (-51.1%)	0.2%	$44.96	-48.5%	COM	31816X106
FCRS/U	FUTURECREST ACQUISITION CORP	4,000 (-60.0%)	$41 (-61.4%)	0.1%	$10.60	—	UNIT 99/99/9999	G3730U123
KVYO	KLAVIYO INC	6,534 (-34.7%)	$212 (-23.4%)	0.5%	$31.68	-11.6%	COM SER A	49845K101
BDCIU	BTC DEV CORP	15,000 (-25.0%)	$152 (-24.8%)	0.4%	$10.11	—	UNIT 09/11/2030	G0701G125
GCTS/WS	GCT SEMICONDUCTOR HLDG INC	349,398 (-12.7%)	$26 (-64.9%)	0.1%	$0.13	—	*W EXP 03/01/202	36170N115
TLNCU	TALON CAP CORP	20,000 (-19.7%)	$206 (-17.8%)	0.5%	$10.05	—	UNIT 08/27/2030	G86652115
HYAC/WS	HAYMAKER ACQUISITION CORP IV	66,002 (-59.4%)	$102 (+40.9%)	0.3%	$0.17	—	*W EXP 05/31/202	G4375F116
CHYM	CHIME FINL INC	12,500 (-16.7%)	$315 (+4.0%)	0.8%	$32.95	-35.5%	COM SHS CL A	16935C109
CAEP	CANTOR EQUITY PARTNERS III I	10,311 (-8.3%)	$105 (-9.4%)	0.3%	$10.53	-1.5%	SHS CL A	G1828A108
FACTW	FACT II ACQUISITION CORP	25,000 (-60.0%)	$9 (-50.0%)	0.0%	$0.27	—	*W EXP 11/26/203	G32901129
SLDE	SLIDE INS HLDGS INC	11,748 (-16.1%)	$229 (+3.6%)	0.6%	$21.55	-22.6%	COM	831349105
BEAGR	BOLD EAGLE ACQUISITION CORP	148,300 (-1.1%)	$47 (+17.2%)	0.1%	$0.31	—	RIGHT 10/11/2029	G2003N121
BACCU	BLUE ACQUISITION CORP.	19,741 (-1.3%)	$208 (+2.9%)	0.5%	$10.04	—	UNIT 06/02/2030	G1331A124
—	AA MISSION ACQUISITION CORP	38,725 (-48.4%)	$7 (-45.2%)	0.0%	$0.16	—	*W EXP 08/01/203	G1000R127
LOKVW	LIVE OAK ACQUISITION CORP V	29,294 (-40.8%)	$29 (+20.2%)	0.1%	$0.70	—	*W EXP 99/99/999	G5509P110
FTW/WS	EQV VENTURES ACQUISITION COR	13,779 (-31.1%)	$7 (-33.9%)	0.0%	$0.73	—	*W EXP 07/01/203	G3106N117
COCHW	ENVOY MEDICAL INC	514,702 (-12.7%)	$20 (-9.7%)	0.0%	$0.05	—	*W EXP 09/29/202	29415V117
POLEW	ANDRETTI ACQUISITION CORP II	14,970 (-25.1%)	$4 (+8.0%)	0.0%	$0.20	—	*W EXP 06/01/203	G26745128

Unchanged Positions (27)

VIA VIA TRANSN INC 1.2%

Value ($000) $495 Shares 17,048 Est. Cost $49.48 Unrealized -16.6%

RVMD REVOLUTION MEDICINES INC 1.0%

Value ($000) $398 Shares 5,000 Est. Cost $50.47 Unrealized +29.9%

LAKE LAKELAND INDS INC 0.5%

Value ($000) $182 Shares 20,580 Est. Cost $15.71 Unrealized -10.6%

KIDZ CLASSOVER HLDGS INC 0.0%

Value ($000) $16 Shares 90,000 Est. Cost $3.16 Unrealized -82.0%

SNDA SONIDA SENIOR LIVING INC 1.0%

Value ($000) $411 Shares 12,612 Est. Cost $28.12 Unrealized +5.4%

RGS REGIS CORPORATION 2.3%

Value ($000) $914 Shares 32,936 Est. Cost $23.65 Unrealized +21.3%

VAL/WS VALARIS LTD 0.1%

Value ($000) $22 Shares 12,296 Est. Cost $3.86 Unrealized —

TTAM TITAN AMER SA 0.2%

Value ($000) $82 Shares 5,000 Est. Cost $14.78 Unrealized +5.9%

CTRE CARETRUST REIT INC 0.5%

Value ($000) $181 Shares 5,000 Est. Cost $34.68 Unrealized —

PAII/U PYROPHYTE ACQUISITION CORP. 0.6%

Value ($000) $259 Shares 25,000 Est. Cost $10.13 Unrealized —

DRDB ROMAN DBDR ACQUISITION CORP 1.3%

Value ($000) $522 Shares 50,038 Est. Cost $10.19 Unrealized +2.3%

NHIC NEWHOLD INVT CORP III 0.6%

Value ($000) $259 Shares 25,000 Est. Cost $10.06 Unrealized +2.5%

APACU STONEBRIDGE ACQUISITION II C 1.5%

Value ($000) $602 Shares 60,000 Est. Cost $9.97 Unrealized —

RAPP RAPPORT THERAPEUTICS INC 0.5%

Value ($000) $182 Shares 6,000 Est. Cost $17.84 Unrealized +55.1%

ANNAW ALEANNA INC 0.0%

Value ($000) $11 Shares 74,647 Est. Cost $0.14 Unrealized —

AXINU AXIOM INTELLIGENCE AC CORP 1 0.5%

Value ($000) $205 Shares 20,000 Est. Cost $10.09 Unrealized —

ABPWW ABPRO HLDGS INC 0.0%

Value ($000) $6 Shares 358,427 Est. Cost $0.06 Unrealized —

SOCAU SOLARIUS CAPITAL ACQU CORP 0.6%

Value ($000) $255 Shares 25,000 Est. Cost $10.09 Unrealized —

BAERW BRIDGER AEROSPACE GRP HLDGS 0.0%

Value ($000) $4 Shares 17,690 Est. Cost $0.04 Unrealized —

EVAC/U EQV VENTURES AC CORP. II 0.5%

Value ($000) $202 Shares 20,000 Est. Cost $10.01 Unrealized —

BDMDW BAIRD MED INVT HLDGS LTD 0.0%

Value ($000) $6 Shares 108,100 Est. Cost $0.20 Unrealized —

ONCHU 1RT ACQUISITION CORP. 0.3%

Value ($000) $104 Shares 10,000 Est. Cost $10.55 Unrealized —

FIGXU FIGX CAP ACQUISITION CORP. 0.3%

Value ($000) $121 Shares 11,888 Est. Cost $10.02 Unrealized —

NHICW NEWHOLD INVT CORP III 0.0%

Value ($000) $5 Shares 12,500 Est. Cost $0.49 Unrealized —

MACIW MELAR ACQUISITION CORP. I 0.0%

Value ($000) $4 Shares 25,000 Est. Cost $0.16 Unrealized —

JENA/U JENA ACQUISITION CORP II 0.6%

Value ($000) $260 Shares 25,000 Est. Cost $10.41 Unrealized —

MBVIU M3-BRIGADE ACQUISITION VI CO 1.3%

Value ($000) $506 Shares 50,000 Est. Cost $10.12 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VIA	VIA TRANSN INC	17,048	$495	1.2%	$49.48	-16.6%	COM CL A	92556W104
RVMD	REVOLUTION MEDICINES INC	5,000	$398	1.0%	$50.47	+29.9%	COM	76155X100
LAKE	LAKELAND INDS INC	20,580	$182	0.5%	$15.71	-10.6%	COM	511795106
KIDZ	CLASSOVER HLDGS INC	90,000	$16	0.0%	$3.16	-82.0%	COM CL B	182744102
SNDA	SONIDA SENIOR LIVING INC	12,612	$411	1.0%	$28.12	+5.4%	COM	140475203
RGS	REGIS CORPORATION	32,936	$914	2.3%	$23.65	+21.3%	COM SHS	758932206
VAL/WS	VALARIS LTD	12,296	$22	0.1%	$3.86	—	*W EXP 04/29/202	G9460G119
TTAM	TITAN AMER SA	5,000	$82	0.2%	$14.78	+5.9%	COMMON SHARES	B9151N105
CTRE	CARETRUST REIT INC	5,000	$181	0.5%	$34.68	—	COM	14174T107
PAII/U	PYROPHYTE ACQUISITION CORP.	25,000	$259	0.6%	$10.13	—	UNIT 99/99/9999	G7309T128
DRDB	ROMAN DBDR ACQUISITION CORP	50,038	$522	1.3%	$10.19	+2.3%	ORD SHS CL A	G7633M104
NHIC	NEWHOLD INVT CORP III	25,000	$259	0.6%	$10.06	+2.5%	ORD SHS CL A	G6486E102
APACU	STONEBRIDGE ACQUISITION II C	60,000	$602	1.5%	$9.97	—	UNIT 09/09/2030	G85096124
RAPP	RAPPORT THERAPEUTICS INC	6,000	$182	0.5%	$17.84	+55.1%	COM	75383L102
ANNAW	ALEANNA INC	74,647	$11	0.0%	$0.14	—	*W EXP 12/13/202	01444V111
AXINU	AXIOM INTELLIGENCE AC CORP 1	20,000	$205	0.5%	$10.09	—	UNIT 06/10/2030	G0750N120
ABPWW	ABPRO HLDGS INC	358,427	$6	0.0%	$0.06	—	*W EXP 11/12/202	000847111
SOCAU	SOLARIUS CAPITAL ACQU CORP	25,000	$255	0.6%	$10.09	—	UNIT 07/10/2030	G82617120
BAERW	BRIDGER AEROSPACE GRP HLDGS	17,690	$4	0.0%	$0.04	—	*W EXP 01/24/202	96812F110
EVAC/U	EQV VENTURES AC CORP. II	20,000	$202	0.5%	$10.01	—	UNIT 06/30/2032	G3106Q110
BDMDW	BAIRD MED INVT HLDGS LTD	108,100	$6	0.0%	$0.20	—	*W EXP 10/01/202	G0705H111
ONCHU	1RT ACQUISITION CORP.	10,000	$104	0.3%	$10.55	—	UNIT 06/26/2030	G6757R121
FIGXU	FIGX CAP ACQUISITION CORP.	11,888	$121	0.3%	$10.02	—	UNIT 06/17/2030	G3473K126
NHICW	NEWHOLD INVT CORP III	12,500	$5	0.0%	$0.49	—	*W EXP 01/30/203	G6486E110
MACIW	MELAR ACQUISITION CORP. I	25,000	$4	0.0%	$0.16	—	*W EXP 06/01/203	G6004G118
JENA/U	JENA ACQUISITION CORP II	25,000	$260	0.6%	$10.41	—	UNIT 99/99/9999	G5093B121
MBVIU	M3-BRIGADE ACQUISITION VI CO	50,000	$506	1.3%	$10.12	—	UNIT 08/18/2030	G63221124