MARA HOLDINGS INC

CUSIP: 565788AD8 Class: NOTE 2.125% 9/0

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (5)

DLD Asset Management, LP
Value ($000) $10,250 Shares 12,500,000
Burkehill Global Management, LP
Value ($000) $4,069 Shares 5,000,000
UBS Group AG
Value ($000) $9,797 Shares 12,200,000
ADVENT CAPITAL MANAGEMENT /DE/
Value ($000) $265 Shares 325,000
GOLDMAN SACHS GROUP INC
Value ($000) $180 Shares 224,000

Increased Positions (7)

LINDEN ADVISORS LP
Value ($000) $34,296 (+81.5%) Shares 42,600,000 (+173.1%)
WHITEBOX ADVISORS LLC
Value ($000) $33,686 (-22.4%) Shares 41,950,000 (+16.7%)
CSS LLC/IL
Value ($000) $13,766 (-29.4%) Shares 17,000,000 (+6.3%)
TWO SIGMA INVESTMENTS, LP
Value ($000) $13,586 (+65.5%) Shares 16,919,000 (+148.8%)
CITIGROUP INC
Value ($000) $5,572 (+12.9%) Shares 6,939,000 (+69.7%)
JANE STREET GROUP, LLC
Value ($000) $1,494 (-16.7%) Shares 1,882,000 (+27.9%)
JPMORGAN CHASE & CO
Value ($000) $57 (+372.2%) Shares 70,000 (+600.0%)

Decreased Positions (6)

FMR LLC
Value ($000) $13,045 (-75.1%) Shares 16,245,000 (-62.6%)
CAPSTONE INVESTMENT ADVISORS, LLC
Value ($000) $16,635 (-40.1%) Shares 20,588,000 (-10.1%)
Calamos Advisors LLC
Value ($000) $5,697 (-36.5%) Shares 7,000,000 (-4.7%)
MILLENNIUM MANAGEMENT LLC
Value ($000) $9,882 (-37.6%) Shares 12,200,000 (-6.2%)
SUSQUEHANNA ADVISORS GROUP, INC.
Value ($000) $110 (-66.3%) Shares 13,644,000 (-48.8%)
MORGAN STANLEY
Value ($000) $2,024 (-40.5%) Shares 2,520,000 (-10.6%)

Exited Positions (7)

Context Capital Management, LLC
Value ($000) $9,696 Shares 8,000
BlueCrest Capital Management Ltd
Value ($000) $4,520 Shares 3,700,000
Jefferies Financial Group Inc.
Value ($000) $5,884 Shares 4,916,000
SSI INVESTMENT MANAGEMENT LLC
Value ($000) $308 Shares 255,000
Invesco Ltd.
Value ($000) $1,328 Shares 1,100,000
Calamos Wealth Management LLC
Value ($000) $88 Shares 72,000
Toroso Investments, LLC
Value ($000) $194 Shares 160,000