KRYGER CAPITAL Ltd Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CFLT	CONFLUENT CL A ORD	3,750,000	$113,400	8.8%	$24.55	0.0%	Class A	20717M103
EXAS	EXACT SCIENCES ORD	1,009,312	$102,506	7.9%	$80.31	0.0%	COM	30063P105
—	DAYFORCE ORD	1,125,512	$77,840	6.0%	$68.83	0.0%	COM	15677J108
RNA	AVIDITY BIOSCIENCES ORD	1,045,320	$75,399	5.8%	$64.59	0.0%	COM	05370A108
DBRG	DIGITALBRIDGE GROUP CL A ORD	4,904,449	$75,234	5.8%	$12.01	0.0%	Class A	25401T603
EA	ELECTRONIC ARTS ORD	302,787	$61,868	4.8%	$201.71	0.0%	COM	285512109
CWAN	CLEARWATER ANALYTICS HOLDIN CL A ORD	2,468,400	$59,538	4.6%	$20.03	0.0%	Class A	185123106
AL	AIR LEASE CL A ORD	860,598	$55,276	4.3%	$63.69	0.0%	Class A	00912X302
HOLX	HOLOGIC ORD	727,335	$54,179	4.2%	$73.07	0.0%	COM	436440101
FOLD	AMICUS THERAPEUTICS ORD	2,994,400	$42,640	3.3%	$9.82	0.0%	COM	03152W109
—	CIDARA THERAPEUTICS ORD	185,313	$40,934	3.2%	$220.89	—	COM	171757206
WBD	WARNER BROS. DISCOVERY SRS A ORD	645,906	$18,615	1.4%	$23.37	0.0%	COM	934423104
—	ASTRIA THERAPEUTICS ORD	1,025,278	$13,421	1.0%	$13.09	—	COM	04635X102
AEAQU	ACTIVATE ENERGY ACQUISITION UNT	1,250,000	$12,494	1.0%	$9.99	—	UNIT	G0081J129
KVUE	KENVUE ORD	508,463	$8,771	0.7%	$16.26	0.0%	COM	49177J102
SVAQU	SILICON VALLEY ACQUISITION UNT	600,000	$5,967	0.5%	$9.95	—	UNIT	G81306105
DSACU	DAEDALUS SPECIAL ACQUISITION UNT	500,000	$5,020	0.4%	$10.04	—	UNIT	G2616C124
GPACU	GENERAL PURPOSE ACQUISITION UNT	500,000	$5,005	0.4%	$10.01	—	UNIT	G3810N122
SAC/U	SAFEGUARD ACQUISITION UNT	400,000	$4,034	0.3%	$10.09	—	UNIT	G77676123
LFACU	LEAPFROG ACQUISITION UNT	325,000	$3,252	0.3%	$10.01	—	UNIT	G5414D129
ADACU	AMERICAN DRIVE ACQUISITION UNT	295,000	$2,941	0.2%	$9.97	—	UNIT	G0R91M121
BLRKU	BLUEROCK ACQUISITION UNT	275,000	$2,750	0.2%	$10.00	—	UNIT	G1352R121
IRHOU	IRON HORSE ACQUISITION II UNT	274,443	$2,729	0.2%	$9.95	—	UNIT	46283H202
SCPQU	SOCIAL COMMERCE PARTNERS UNT	200,000	$2,000	0.2%	$10.00	—	UNIT	G8254P129
LPCVU	LAUNCHPAD CADENZA ACQUISITION I UNT	200,000	$1,996	0.2%	$9.98	—	UNIT	G6001S123
ITHAU	ITHAX ACQUISITION III UNT	150,000	$1,496	0.1%	$9.97	—	UNIT	G4977S128
MESHU	MESHFLOW ACQUISITION UNT	125,000	$1,250	0.1%	$10.00	—	UNIT	G6032N127
—	PFIZER INC-CVR	246,178	$1,206	0.1%	$4.90	—	COM	592CVR013
RKT	ROCKET COMPANIES CL A ORD	53,755	$1,041	0.1%	$17.88	0.0%	Class A	77311W101
UDMY	UDEMY ORD	100,000	$585	0.0%	$5.83	0.0%	COM	902685106
CEPV	CANTOR EQUITY PARTNERS V CL A ORD	25,232	$259	0.0%	$10.25	0.0%	Class A	G1828S109
ONCHU	1RT ACQUISITION UNT	10,134	$105	0.0%	$10.40	—	UNIT	G6757R121
HCMAU	HCM III ACQUISITION UNT	3,080	$32	0.0%	$10.29	—	UNIT	G4365E129

Increased Positions (15)

NSC NORFOLK SOUTHERN ORD 11.0%

Value ($000) $141,766 (+43.5%) Shares 491,015 (+49.3%) Est. Cost $280.19 Unrealized +3.0%

— ANYWHERE REAL ESTATE ORD 2.1%

Value ($000) $27,053 (+443.5%) Shares 1,910,543 (+306.5%) Est. Cost $13.28 Unrealized —

BHF BRIGHTHOUSE FINANCIAL ORD 1.5%

Value ($000) $19,618 (+1378.4%) Shares 302,796 (+1111.2%) Est. Cost $57.94 Unrealized +1.4%

GTLS CHART INDUSTRIES ORD 4.7%

Value ($000) $60,916 (+26.3%) Shares 295,380 (+22.6%) Est. Cost $192.36 Unrealized +5.3%

— FRONTIER COMMUNICATIONS PARENT ORD 6.4%

Value ($000) $83,286 (+3.5%) Shares 2,187,709 (+1.5%) Est. Cost $35.92 Unrealized —

— SAPIENS INTERNATIONAL ORD 0.8%

Value ($000) $10,311 (+2.5%) Shares 237,032 (+1.4%) Est. Cost $43.01 Unrealized —

DMAAU DRUGS MADE IN AMERICA ACQUISITIO UNT 0.2%

Value ($000) $3,043 (+2.0%) Shares 303,810 (+1.3%) Est. Cost $9.95 Unrealized —

CEPT CANTOR EQUITY PARTNERS II CL A ORD 0.0%

Value ($000) $295 (+9.7%) Shares 26,179 (+2.4%) Est. Cost $11.29 Unrealized -0.1%

FCRS/U FUTURECREST ACQUISITION UNT 0.0%

Value ($000) $519 (-2.1%) Shares 50,660 (+1.3%) Est. Cost $10.60 Unrealized —

MBVIU M3 BRIGADE ACQUISITION VI UNT 0.1%

Value ($000) $779 (+1.4%) Shares 76,978 (+1.3%) Est. Cost $10.12 Unrealized —

CEPF CANTOR EQUITY PARTNERS IV CL A ORD 0.0%

Value ($000) $265 (+2.5%) Shares 25,733 (+1.5%) Est. Cost $10.15 Unrealized +2.4%

FIGXU FIGX CAPITAL ACQUISITION UNT 0.0%

Value ($000) $260 (+2.3%) Shares 25,500 (+1.3%) Est. Cost $10.08 Unrealized —

BLZRU TRAILBLAZER ACQUISITION UNT 0.0%

Value ($000) $261 (+2.0%) Shares 25,437 (+1.7%) Est. Cost $10.23 Unrealized —

OBAWU OXLEY BRIDGE ACQUISITION UNT 0.0%

Value ($000) $104 (+3.1%) Shares 10,223 (+1.3%) Est. Cost $10.04 Unrealized —

CAEP CANTOR EQUITY PARTNERS III CL A ORD 0.0%

Value ($000) $104 (+0.5%) Shares 10,210 (+1.7%) Est. Cost $10.47 Unrealized -0.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NSC	NORFOLK SOUTHERN ORD	491,015 (+49.3%)	$141,766 (+43.5%)	11.0%	$280.19	+3.0%	COM	655844108
—	ANYWHERE REAL ESTATE ORD	1,910,543 (+306.5%)	$27,053 (+443.5%)	2.1%	$13.28	—	COM	75605Y106
BHF	BRIGHTHOUSE FINANCIAL ORD	302,796 (+1111.2%)	$19,618 (+1378.4%)	1.5%	$57.94	+1.4%	COM	10922N103
GTLS	CHART INDUSTRIES ORD	295,380 (+22.6%)	$60,916 (+26.3%)	4.7%	$192.36	+5.3%	COM	16115Q308
—	FRONTIER COMMUNICATIONS PARENT ORD	2,187,709 (+1.5%)	$83,286 (+3.5%)	6.4%	$35.92	—	COM	35909D109
—	SAPIENS INTERNATIONAL ORD	237,032 (+1.4%)	$10,311 (+2.5%)	0.8%	$43.01	—	SHS	G7T16G103
DMAAU	DRUGS MADE IN AMERICA ACQUISITIO UNT	303,810 (+1.3%)	$3,043 (+2.0%)	0.2%	$9.95	—	UNIT	G2847J120
CEPT	CANTOR EQUITY PARTNERS II CL A ORD	26,179 (+2.4%)	$295 (+9.7%)	0.0%	$11.29	-0.1%	Class A	G1827P106
FCRS/U	FUTURECREST ACQUISITION UNT	50,660 (+1.3%)	$519 (-2.1%)	0.0%	$10.60	—	UNIT	G3730U123
MBVIU	M3 BRIGADE ACQUISITION VI UNT	76,978 (+1.3%)	$779 (+1.4%)	0.1%	$10.12	—	UNIT	G63221124
CEPF	CANTOR EQUITY PARTNERS IV CL A ORD	25,733 (+1.5%)	$265 (+2.5%)	0.0%	$10.15	+2.4%	Class A	G1828E100
FIGXU	FIGX CAPITAL ACQUISITION UNT	25,500 (+1.3%)	$260 (+2.3%)	0.0%	$10.08	—	UNIT	G3473K126
BLZRU	TRAILBLAZER ACQUISITION UNT	25,437 (+1.7%)	$261 (+2.0%)	0.0%	$10.23	—	UNIT	G9009S129
OBAWU	OXLEY BRIDGE ACQUISITION UNT	10,223 (+1.3%)	$104 (+3.1%)	0.0%	$10.04	—	UNIT	G6858G123
CAEP	CANTOR EQUITY PARTNERS III CL A ORD	10,210 (+1.7%)	$104 (+0.5%)	0.0%	$10.47	-0.9%	Class A	G1828A108

Exited Positions (15)

— VERONA PHARMA ADR 7.9%

Value ($000) $102,691 Shares 962,341 Est. Cost $106.71 Unrealized —

— MERUS ORD 7.7%

Value ($000) $99,187 Shares 1,053,500 Est. Cost $94.15 Unrealized —

— MR COOPER GROUP ORD 6.6%

Value ($000) $85,765 Shares 406,873 Est. Cost $210.79 Unrealized —

— MAC COPPER ORD 3.5%

Value ($000) $44,695 Shares 3,660,486 Est. Cost $12.21 Unrealized —

— INFORMATICA CL A ORD 3.1%

Value ($000) $40,419 Shares 1,627,159 Est. Cost $24.84 Unrealized —

— 89BIO ORD 2.7%

Value ($000) $34,545 Shares 2,350,000 Est. Cost $14.70 Unrealized —

— INTEGRAL AD SCIENCE HOLDING ORD 2.4%

Value ($000) $30,510 Shares 3,000,000 Est. Cost $10.17 Unrealized —

— SKECHERS USA CL A ORD 1.3%

Value ($000) $17,187 Shares 272,806 Est. Cost $63.10 Unrealized —

STAA STAAR SURGICAL ORD 1.3%

Value ($000) $16,765 Shares 623,937 Est. Cost $23.84 Unrealized +8.1%

OMC OMNICOM GROUP ORD 1.1%

Value ($000) $14,109 Shares 173,056 Est. Cost $71.94 Unrealized +5.3%

— HANESBRANDS ORD 0.8%

Value ($000) $10,045 Shares 1,524,345 Est. Cost $6.59 Unrealized —

— KELLANOVA ORD 0.6%

Value ($000) $8,248 Shares 100,560 Est. Cost $68.78 Unrealized +20.2%

— AVIDXCHANGE HOLDINGS ORD 0.6%

Value ($000) $7,515 Shares 755,250 Est. Cost $9.79 Unrealized —

CCCX CHURCHILL CAPITAL X CL A ORD 0.1%

Value ($000) $1,335 Shares 103,823 Est. Cost $12.86 Unrealized —

TRIP TRIPADVISOR ORD 0.1%

Value ($000) $813 Shares 50,000 Est. Cost $17.45 Unrealized -12.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	VERONA PHARMA ADR	962,341	$102,691	7.9%	$106.71	—	—	925050106
—	MERUS ORD	1,053,500	$99,187	7.7%	$94.15	—	—	N5749R100
—	MR COOPER GROUP ORD	406,873	$85,765	6.6%	$210.79	—	—	62482R107
—	MAC COPPER ORD	3,660,486	$44,695	3.5%	$12.21	—	—	G60409110
—	INFORMATICA CL A ORD	1,627,159	$40,419	3.1%	$24.84	—	—	45674M101
—	89BIO ORD	2,350,000	$34,545	2.7%	$14.70	—	—	282559103
—	INTEGRAL AD SCIENCE HOLDING ORD	3,000,000	$30,510	2.4%	$10.17	—	—	45828L108
—	SKECHERS USA CL A ORD	272,806	$17,187	1.3%	$63.10	—	—	830566105
STAA	STAAR SURGICAL ORD	623,937	$16,765	1.3%	$23.84	+8.1%	—	852312305
OMC	OMNICOM GROUP ORD	173,056	$14,109	1.1%	$71.94	+5.3%	—	681919106
—	HANESBRANDS ORD	1,524,345	$10,045	0.8%	$6.59	—	—	410345102
—	KELLANOVA ORD	100,560	$8,248	0.6%	$68.78	+20.2%	—	487836108
—	AVIDXCHANGE HOLDINGS ORD	755,250	$7,515	0.6%	$9.79	—	—	05368X102
CCCX	CHURCHILL CAPITAL X CL A ORD	103,823	$1,335	0.1%	$12.86	—	—	G2130T108
TRIP	TRIPADVISOR ORD	50,000	$813	0.1%	$17.45	-12.8%	—	896945201

Decreased Positions (1)

RIOT RIOT PLATFORMS ORD 0.1%

Value ($000) $1,530 (-67.8%) Shares 120,777 (-51.7%) Est. Cost $13.85 Unrealized +23.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RIOT	RIOT PLATFORMS ORD	120,777 (-51.7%)	$1,530 (-67.8%)	0.1%	$13.85	+23.5%	COM	767292105

Unchanged Positions (1)

— CYBER ARK SOFTWARE ORD 7.0%

Value ($000) $90,696 Shares 203,327 Est. Cost $483.15 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	CYBER ARK SOFTWARE ORD	203,327	$90,696	7.0%	$483.15	—	SHS	M2682V108