SCAGE FUTURE

Ticker: SCAGW CUSIP: G7840J118 Class: *W EXP 05/15/203

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (1)

Value ($000) $0 Shares 164

Institution	Shares	Value ($000)
UBS Group AG	164	$0

Increased Positions (1)

ARISTEIA CAPITAL, L.L.C.

Value ($000) $54 (+41.3%) Shares 867,341 (+13.0%)

Institution	Prev Shares	Curr Shares	Change
ARISTEIA CAPITAL, L.L.C.	767,341	867,341	+100,000 (+13.0%)

Decreased Positions (5)

Clear Street Group Inc.

Value ($000) $30 (+14.4%) Shares 455,591 (-16.0%)

AQR Arbitrage LLC

Value ($000) $3 (+2.7%) Shares 46,928 (-24.8%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $5 (+26.4%) Shares 74,917 (-7.2%)

TWO SIGMA SECURITIES, LLC

Value ($000) $1 (-7.5%) Shares 12,636 (-12.0%)

Virtu Financial LLC

Value ($000) $0 (0.0%) Shares 29,608 (-19.5%)

Institution	Prev Shares	Curr Shares	Change
Clear Street Group Inc.	542,275	455,591	-86,684 (-16.0%)
AQR Arbitrage LLC	62,394	46,928	-15,466 (-24.8%)
WOLVERINE ASSET MANAGEMENT LLC	80,705	74,917	-5,788 (-7.2%)
TWO SIGMA SECURITIES, LLC	14,363	12,636	-1,727 (-12.0%)
Virtu Financial LLC	36,759	29,608	-7,151 (-19.5%)

Exited Positions (3)

Shaolin Capital Management LLC

Value ($000) $8 Shares 175,000

MIZUHO SECURITIES USA LLC

Value ($000) $4 Shares 74,000

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $1 Shares 13,248

Institution	Prev Shares	Prev Value ($000)
Shaolin Capital Management LLC	175,000	$8
MIZUHO SECURITIES USA LLC	74,000	$4
SUSQUEHANNA INTERNATIONAL GROUP, LLP	13,248	$1