GRABAGUN DIGITAL HLDGS INC

Ticker: PEW/WS CUSIP: 38387Q113 Class: *W EXP 99/99/999

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

JPMORGAN CHASE & CO

Value ($000) $0 Shares 66

Institution	Shares	Value ($000)
JPMORGAN CHASE & CO	66	$0

Increased Positions (6)

Caption Management, LLC

Value ($000) $212 (-37.8%) Shares 564,138 (+107.2%)

K2 PRINCIPAL FUND, L.P.

Value ($000) $49 (-54.9%) Shares 129,857 (+48.2%)

LMR Partners LLP

Value ($000) $883 (-68.6%) Shares 2,354,365 (+4.5%)

ARISTEIA CAPITAL, L.L.C.

Value ($000) $219 (-69.2%) Shares 572,760 (+3.2%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $18 (-38.2%) Shares 46,995 (+106.0%)

Value ($000) $1 (+1733.9%) Shares 2,884 (+6036.2%)

Institution	Prev Shares	Curr Shares	Change
Caption Management, LLC	272,233	564,138	+291,905 (+107.2%)
K2 PRINCIPAL FUND, L.P.	87,606	129,857	+42,251 (+48.2%)
LMR Partners LLP	2,252,545	2,354,365	+101,820 (+4.5%)
ARISTEIA CAPITAL, L.L.C.	554,945	572,760	+17,815 (+3.2%)
WOLVERINE ASSET MANAGEMENT LLC	22,818	46,995	+24,177 (+106.0%)
UBS Group AG	47	2,884	+2,837 (+6036.2%)

Decreased Positions (4)

METEORA CAPITAL, LLC

Value ($000) $32 (-85.3%) Shares 84,881 (-51.0%)

BOOTHBAY FUND MANAGEMENT, LLC

Value ($000) $45 (-70.0%) Shares 15,072 (-53.5%)

AQR Arbitrage LLC

Value ($000) $21 (-85.6%) Shares 56,693 (-52.1%)

Polar Asset Management Partners Inc.

Value ($000) $104 (-74.6%) Shares 270,610 (-14.9%)

Institution	Prev Shares	Curr Shares	Change
METEORA CAPITAL, LLC	173,332	84,881	-88,451 (-51.0%)
BOOTHBAY FUND MANAGEMENT, LLC	32,414	15,072	-17,342 (-53.5%)
AQR Arbitrage LLC	118,439	56,693	-61,746 (-52.1%)
Polar Asset Management Partners Inc.	318,122	270,610	-47,512 (-14.9%)