# EDGAR Filing Document

**Accession Number:** 0001011443
**File Stem:** 0001011443-25-000037
**Filing Date:** 2025-11
**Character Count:** 29555
**Document Hash:** ecb7a715ca26a3ae91eedb42d1363a0a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001011443-25-000037.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001011443-25-000037

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HBK INVESTMENTS L P
- **CENTRAL INDEX KEY:** 0001011443

**ORGANIZATION NAME:**
- **EIN:** 752622581
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06078
- **FILM NUMBER:** 251482459

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 NORTH FIELD STREET
- **STREET 2:** STE 2200
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 2147586100

**MAIL ADDRESS:**
- **STREET 1:** 2300 NORTH FIELD STREET
- **STREET 2:** STE 2200
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** HBK INVESTMENTS L P<br>**Address:** 2300 NORTH FIELD STREET<br>STE 2200<br>DALLAS, TX 75201

**Form 13F File Number:** 028-06078

**CRD Number (if applicable):** 000115079

**SEC File Number (if applicable):** 028-06078

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** ROYA DOUD<br>**Title:** CHIEF COMPLIANCE OFFICER<br>**Phone:** 2147586107

**Signature, Place, and Date of Signing:**

ROYA DOUD  DALLAS, TX  11-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 244

**Form 13F Information Table Value Total:** $9111546988

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 1RT ACQUISITION CORP. | *W EXP 06/26/203 | G6757R113 |  | 55626 | 62501 | SH |  | SOLE |  | 62501 | 0 | 0 |
| 1RT ACQUISITION CORP. | USD CL A ORD SHS | G6757R105 |  | 2605227 | 249304 | SH |  | SOLE |  | 249304 | 0 | 0 |
| 21SHARES ETHEREUM ETF | SHS | 04071F102 |  | 836472 | 40215 | SH |  | SOLE |  | 40215 | 0 | 0 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 |  | 1473600 | 24000 | SH | Put | SOLE |  | 24000 | 0 | 0 |
| AGNC INVT CORP | COM | 00123Q104 |  | 3916000 | 400000 | SH | Call | SOLE |  | 400000 | 0 | 0 |
| AGNC INVT CORP | COM | 00123Q104 |  | 68134484 | 6959600 | SH | Put | SOLE |  | 6959600 | 0 | 0 |
| AIR LEASE CORP | CL A | 00912X302 |  | 175037500 | 2750000 | SH |  | SOLE |  | 2750000 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | NOTE 0.500% 6/0 | 01609WBG6 |  | 35853561 | 19500000 | PRN |  | SOLE |  | 19500000 | 0 | 0 |
| ALIGNMENT HEALTHCARE INC | COM | 01625V104 |  | 3933230 | 225400 | SH | Call | SOLE |  | 225400 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 561336 | 1231 | SH |  | SOLE |  | 1231 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1264120 | 5200 | SH | Put | SOLE |  | 5200 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3580185 | 14700 | SH | Put | SOLE |  | 14700 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 856323 | 3900 | SH | Put | SOLE |  | 3900 | 0 | 0 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 |  | 434988 | 38700 | SH | Put | SOLE |  | 38700 | 0 | 0 |
| AMERICAN AXLE  MFG HLDGS IN | COM | 024061103 |  | 601000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| AMERICAN EXCEPTIONALISM ACQU | ORD CL A | G0273J101 |  | 5465000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 11075419 | 185798 | SH |  | SOLE |  | 185798 | 0 | 0 |
| ANI PHARMACEUTICALS INC | NOTE 2.250% 9/0 | 00182CAC7 |  | 35339581 | 25150000 | PRN |  | SOLE |  | 25150000 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 967594 | 3800 | SH | Put | SOLE |  | 3800 | 0 | 0 |
| ARCHER AVIATION INC | COM CL A | 03945R102 |  | 9580000 | 1000000 | SH |  | SOLE |  | 1000000 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 3061500 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 123642447 | 3252037 | SH |  | SOLE |  | 3252037 | 0 | 0 |
| ARMOUR RESIDENTIAL REIT INC | COM SHS | 042315705 |  | 2241000 | 150000 | SH | Call | SOLE |  | 150000 | 0 | 0 |
| ARTIUS II ACQUISITION INC | RIGHT 11/27/2029 | G0509J123 |  | 120000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| ARTIUS II ACQUISITION INC | SHS CL A | G0509J115 |  | 5089980 | 499998 | SH |  | SOLE |  | 499998 | 0 | 0 |
| ASPEN INSURANCE HOLDINGS LTD | ORD SHS CL A | G05384501 |  | 132656688 | 3613639 | SH |  | SOLE |  | 3613639 | 0 | 0 |
| ATLANTA BRAVES HLDGS INC | COM SER C | 047726302 |  | 17789332 | 427731 | SH |  | SOLE |  | 427731 | 0 | 0 |
| AURORA INNOVATION INC | CLASS A COM | 051774107 |  | 592900 | 110000 | SH | Put | SOLE |  | 110000 | 0 | 0 |
| BAIN CAP GSS INVT CORP | UNIT 99/99/9999 | G0R78B122 |  | 2018000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 8605212 | 166800 | SH | Put | SOLE |  | 166800 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 2130050 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| BITWISE BITCOIN ETF TR | SHS BEN INT | 09174C104 |  | 15624811 | 251122 | SH |  | SOLE |  | 251122 | 0 | 0 |
| BITWISE ETHEREUM ETF | SHS | 091955104 |  | 24860397 | 833682 | SH |  | SOLE |  | 833682 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 2607000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| BOEING CO | DEP CONV PFD A | 097023204 |  | 6965502 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| BOLD EAGLE ACQUISITION CORP | CL A | G2003N105 |  | 5164526 | 496589 | SH |  | SOLE |  | 496589 | 0 | 0 |
| BOLD EAGLE ACQUISITION CORP | RIGHT 10/11/2029 | G2003N121 |  | 33750 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 4107945 | 41100 | SH | Put | SOLE |  | 41100 | 0 | 0 |
| BRIGHTSPRING HEALTH SVCS INC | COM | 10950A106 |  | 7390000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| CACI INTL INC | CL A | 127190304 |  | 6583896 | 13200 | SH | Put | SOLE |  | 13200 | 0 | 0 |
| CANTOR EQUITY PARTNERS I INC | SHS CL A | G1827K107 |  | 1150600 | 110000 | SH |  | SOLE |  | 110000 | 0 | 0 |
| CANTOR EQUITY PARTNERS II IN | CL A ORD SHS | G1827P106 |  | 1486587 | 141445 | SH |  | SOLE |  | 141445 | 0 | 0 |
| CANTOR EQUITY PARTNERS III I | SHS CL A | G1828A108 |  | 4128000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| CANTOR EQUITY PARTNERS IV IN | SHS CL A | G1828E100 |  | 5092490 | 499999 | SH |  | SOLE |  | 499999 | 0 | 0 |
| CENTERPOINT ENERGY INC | NOTE 4.250% 8/1 | 15189TBD8 |  | 20548089 | 18500000 | PRN |  | SOLE |  | 18500000 | 0 | 0 |
| CHART INDS INC | COM | 16115Q308 |  | 425894181 | 2127875 | SH |  | SOLE |  | 2127875 | 0 | 0 |
| CIMPRESS PLC | SHS EURO | G2143T103 |  | 2584640 | 41000 | SH | Put | SOLE |  | 41000 | 0 | 0 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 19288968 | 688400 | SH | Call | SOLE |  | 688400 | 0 | 0 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 23385492 | 834600 | SH | Put | SOLE |  | 834600 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 7308000 | 72000 | SH | Put | SOLE |  | 72000 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 6007322 | 17800 | SH | Call | SOLE |  | 17800 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 13668345 | 40500 | SH | Put | SOLE |  | 40500 | 0 | 0 |
| COMMVAULT SYS INC | COM | 204166102 |  | 14215134 | 75300 | SH | Put | SOLE |  | 75300 | 0 | 0 |
| COMMVAULT SYS INC | COM | 204166102 |  | 2718432 | 14400 | SH |  | SOLE |  | 14400 | 0 | 0 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 |  | 18220570 | 870548 | SH |  | SOLE |  | 870548 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 7255053 | 76700 | SH | Put | SOLE |  | 76700 | 0 | 0 |
| COPA HOLDINGS SA | CL A | P31076105 |  | 55477058 | 466900 | SH | Put | SOLE |  | 466900 | 0 | 0 |
| CUSTOMERS BANCORP INC | COM | 23204G100 |  | 323059 | 4942 | SH |  | SOLE |  | 4942 | 0 | 0 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 1135402500 | 2350000 | SH |  | SOLE |  | 2350000 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 28508480 | 200200 | SH | Call | SOLE |  | 200200 | 0 | 0 |
| DAYFORCE INC | COM | 15677J108 |  | 296227000 | 4300000 | SH |  | SOLE |  | 4300000 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 936375 | 16500 | SH | Put | SOLE |  | 16500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1988120 | 11500 | SH | Call | SOLE |  | 11500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1988120 | 11500 | SH | Put | SOLE |  | 11500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 12278283 | 71022 | SH |  | SOLE |  | 71022 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 2937492 | 10800 | SH | Put | SOLE |  | 10800 | 0 | 0 |
| DRUGS MADE IN AMER ACQ II CO | UNIT 09/16/2030 | G2851K120 |  | 4972500 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| DUKE ENERGY CORP NEW | NOTE 4.125% 4/1 | 26441CBY0 |  | 21499692 | 20000000 | PRN |  | SOLE |  | 20000000 | 0 | 0 |
| ENCORE CAP GROUP INC | NOTE 4.000% 3/1 | 292554AP7 |  | 982354 | 1000000 | PRN |  | SOLE |  | 1000000 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 6872956 | 61300 | SH | Put | SOLE |  | 61300 | 0 | 0 |
| ETF SER SOLUTIONS | US GLB JETS | 26922A842 |  | 12652845 | 513300 | SH | Put | SOLE |  | 513300 | 0 | 0 |
| FIDELITY ETHEREUM FD | SHS | 31613E103 |  | 46791075 | 1126139 | SH |  | SOLE |  | 1126139 | 0 | 0 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 33064258 | 331272 | SH |  | SOLE |  | 331272 | 0 | 0 |
| FIGX CAP ACQUISITION CORP. | *W EXP 06/17/203 | G3473K118 |  | 15000 | 62501 | SH |  | SOLE |  | 62501 | 0 | 0 |
| FIGX CAP ACQUISITION CORP. | USD CL A ORD SHS | G3473K100 |  | 1248770 | 125002 | SH |  | SOLE |  | 125002 | 0 | 0 |
| FIRST MAJESTIC SILVER CORP | NOTE 0.375% 1/1 | 32076VAD5 |  | 26946647 | 24957000 | PRN |  | SOLE |  | 24957000 | 0 | 0 |
| FORTUNA MNG CORP | NOTE 3.750% 6/3 | 349915AE8 |  | 20516635 | 13000000 | PRN |  | SOLE |  | 13000000 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 1145800 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| FRANKLIN ETHEREUM TR | ETHEREUM ETF | 35351J109 |  | 1253428 | 39678 | SH |  | SOLE |  | 39678 | 0 | 0 |
| FRESHPET INC | NOTE 3.000% 4/0 | 358039AB1 |  | 28254675 | 25000000 | PRN |  | SOLE |  | 25000000 | 0 | 0 |
| FRONTIER COMMUNICATIONS PARE | COM | 35909D109 |  | 131658750 | 3525000 | SH |  | SOLE |  | 3525000 | 0 | 0 |
| FUTURECREST ACQUISITION CORP | UNIT 99/99/9999 | G3730U123 |  | 3180000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 8336768 | 305600 | SH | Call | SOLE |  | 305600 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 36893472 | 1352400 | SH | Put | SOLE |  | 1352400 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 1574411 | 57713 | SH |  | SOLE |  | 57713 | 0 | 0 |
| GLADSTONE CAP CORP | NOTE 5.875%10/0 | 376535AG5 |  | 7329434 | 7500000 | PRN |  | SOLE |  | 7500000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 7485690 | 9400 | SH | Put | SOLE |  | 9400 | 0 | 0 |
| GOODYEAR TIRE  RUBR CO | COM | 382550101 |  | 912560 | 122000 | SH |  | SOLE |  | 122000 | 0 | 0 |
| GORES HLDGS X INC | *W EXP 05/02/203 | G4002F125 |  | 95000 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| GORES HLDGS X INC | SHS CL A | G4002F109 |  | 5105000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 1087212 | 180600 | SH | Call | SOLE |  | 180600 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 1086610 | 180500 | SH | Put | SOLE |  | 180500 | 0 | 0 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 |  | 11478074 | 226705 | SH |  | SOLE |  | 226705 | 0 | 0 |
| GRAYSCALE ETHEREUM MINI TR E | SHS NEW | 38964R203 |  | 12190504 | 311141 | SH |  | SOLE |  | 311141 | 0 | 0 |
| HCM III ACQUISITION CORP | *W EXP 07/23/203 | G4365E111 |  | 23584 | 33334 | SH |  | SOLE |  | 33334 | 0 | 0 |
| HCM III ACQUISITION CORP | ORD SHS CL A | G4365E103 |  | 1010520 | 100002 | SH |  | SOLE |  | 100002 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | 7.625 MAND CONV | 42824C208 |  | 6815916 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| HIGHVIEW MERGER CORP | UNIT 07/24/2030 | G4569C127 |  | 2530000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 1191120 | 21000 | SH | Call | SOLE |  | 21000 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 18252496 | 321800 | SH | Put | SOLE |  | 321800 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 10141933 | 178807 | SH |  | SOLE |  | 178807 | 0 | 0 |
| HINGE HEALTH INC | CL A | 433313103 |  | 3190200 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| IMPINJ INC | NOTE 1.125% 5/1 | 453204AD1 |  | 14130620 | 8447000 | PRN |  | SOLE |  | 8447000 | 0 | 0 |
| INFORMATICA INC | COM CL A | 45674M101 |  | 322254213 | 12973197 | SH |  | SOLE |  | 12973197 | 0 | 0 |
| INTERPUBLIC GROUP COS INC | COM | 460690100 |  | 295289530 | 10580062 | SH |  | SOLE |  | 10580062 | 0 | 0 |
| INVESCO MORTGAGE CAPITAL INC | COM | 46131B704 |  | 1134000 | 150000 | SH | Call | SOLE |  | 150000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 144689170 | 241000 | SH | Put | SOLE |  | 241000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 33969000 | 522600 | SH | Put | SOLE |  | 522600 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 4313266 | 101800 | SH | Put | SOLE |  | 101800 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 101260260 | 418500 | SH | Put | SOLE |  | 418500 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1072609 | 4433 | SH |  | SOLE |  | 4433 | 0 | 0 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 7065360 | 108000 | SH | Put | SOLE |  | 108000 | 0 | 0 |
| JENA ACQUISITION CORP II | RIGHT 03/31/2030 | G5093B113 |  | 140000 | 700000 | SH |  | SOLE |  | 700000 | 0 | 0 |
| JENA ACQUISITION CORP II | USD CL A ORD SHS | G5093B105 |  | 7105000 | 700000 | SH |  | SOLE |  | 700000 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7696492 | 24400 | SH | Put | SOLE |  | 24400 | 0 | 0 |
| KELLANOVA | COM | 487836108 |  | 164040000 | 2000000 | SH |  | SOLE |  | 2000000 | 0 | 0 |
| KKR  CO INC | 6.25 CON SER D | 48251W500 |  | 5219938 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| KOSMOS ENERGY LTD | NOTE 3.125% 3/1 | 500688AH9 |  | 26061907 | 40750000 | PRN |  | SOLE |  | 40750000 | 0 | 0 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 |  | 8402000 | 200000 | SH | Put | SOLE |  | 200000 | 0 | 0 |
| LANTHEUS HLDGS INC | NOTE 2.625%12/1 | 516544AB9 |  | 11280028 | 10723000 | PRN |  | SOLE |  | 10723000 | 0 | 0 |
| LATAM AIRLINES GROUP SA | SPONSORED ADR | 51817R205 |  | 37706825 | 833300 | SH | Put | SOLE |  | 833300 | 0 | 0 |
| LEGENCE CORP | CL A | 52476L109 |  | 8010600 | 260000 | SH |  | SOLE |  | 260000 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 12849280 | 68000 | SH | Put | SOLE |  | 68000 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 360589500 | 5675000 | SH |  | SOLE |  | 5675000 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY LIV S A | 531229748 |  | 4288953 | 45482 | SH |  | SOLE |  | 45482 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY LIV S C | 531229722 |  | 318643 | 3286 | SH |  | SOLE |  | 3286 | 0 | 0 |
| LIONSGATE STUDIOS CORP | COM | 53626N102 |  | 4820030 | 698555 | SH |  | SOLE |  | 698555 | 0 | 0 |
| LIVE OAK ACQUISITION CORP V | *W EXP 99/99/999 | G5509P110 |  | 108440 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| LIVE OAK ACQUISITION CORP V | CL A SHS | G5509P102 |  | 4080000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| LUCID GROUP INC | COM NEW | 549498202 |  | 395128 | 16609 | SH |  | SOLE |  | 16609 | 0 | 0 |
| LUMENTUM HLDGS INC | COM | 55024U109 |  | 1545745 | 9500 | SH |  | SOLE |  | 9500 | 0 | 0 |
| MARRIOTT VACATIONS WORLDWIDE | NOTE 3.250%12/1 | 57164YAF4 |  | 15810892 | 16500000 | PRN |  | SOLE |  | 16500000 | 0 | 0 |
| MERUS N V | COM | N5749R100 |  | 268327500 | 2850000 | SH |  | SOLE |  | 2850000 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3745338 | 5100 | SH | Put | SOLE |  | 5100 | 0 | 0 |
| METSERA INC | COM | 59267L107 |  | 167456000 | 3200000 | SH |  | SOLE |  | 3200000 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 880515 | 1700 | SH | Put | SOLE |  | 1700 | 0 | 0 |
| MR COOPER GROUP INC | COM | 62482R107 |  | 202521000 | 950000 | SH |  | SOLE |  | 950000 | 0 | 0 |
| NABORS INDS INC | NOTE 1.750% 6/1 | 62957HAL9 |  | 3750649 | 5000000 | PRN |  | SOLE |  | 5000000 | 0 | 0 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 77780656 | 692800 | SH | Put | SOLE |  | 692800 | 0 | 0 |
| NETSKOPE INC | CL A | 64119N608 |  | 3636800 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| NEWELL BRANDS INC | COM | 651229106 |  | 2351183 | 448699 | SH |  | SOLE |  | 448699 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 36961235 | 1203557 | SH |  | SOLE |  | 1203557 | 0 | 0 |
| NEWS CORP NEW | CL B | 65249B208 |  | 1989596 | 57586 | SH |  | SOLE |  | 57586 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1283330 | 17000 | SH | Call | SOLE |  | 17000 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1283330 | 17000 | SH | Put | SOLE |  | 17000 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 242851 | 3217 | SH |  | SOLE |  | 3217 | 0 | 0 |
| NEXTERA ENERGY INC | UNIT 06/01/2027 | 65339F663 |  | 5002341 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| NIO INC | NOTE 4.625%10/1 | 62914VAK2 |  | 9789662 | 9300000 | PRN |  | SOLE |  | 9300000 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 4591050 | 602500 | SH | Put | SOLE |  | 602500 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 2550871 | 334760 | SH |  | SOLE |  | 334760 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 381520700 | 1270000 | SH |  | SOLE |  | 1270000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 285355452 | 1529400 | SH | Put | SOLE |  | 1529400 | 0 | 0 |
| OLIN CORP | COM PAR $1 | 680665205 |  | 1579668 | 63212 | SH |  | SOLE |  | 63212 | 0 | 0 |
| OMADA HEALTH INC | COM | 68170A108 |  | 1658250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| PAR TECHNOLOGY CORP | NOTE 1.500%10/1 | 698884AE3 |  | 16719548 | 17382000 | PRN |  | SOLE |  | 17382000 | 0 | 0 |
| PAR TECHNOLOGY CORP | NOTE 2.875% 4/1 | 698884AC7 |  | 5136880 | 4830000 | PRN |  | SOLE |  | 4830000 | 0 | 0 |
| PARAMOUNT GROUP INC | COM | 69924R108 |  | 817500 | 125000 | SH | Call | SOLE |  | 125000 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 2763000 | 307000 | SH | Call | SOLE |  | 307000 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 4521600 | 502400 | SH | Put | SOLE |  | 502400 | 0 | 0 |
| PELOTON INTERACTIVE INC | NOTE 5.500%12/0 | 70614WAD2 |  | 50220073 | 22500000 | PRN |  | SOLE |  | 22500000 | 0 | 0 |
| PENNYMAC CORP | NOTE 5.500% 3/1 | 70932AAF0 |  | 21812749 | 21840000 | PRN |  | SOLE |  | 21840000 | 0 | 0 |
| PENNYMAC CORP | NOTE 8.500% 6/0 | 70932AAH6 |  | 20959132 | 20250000 | PRN |  | SOLE |  | 20250000 | 0 | 0 |
| PENNYMAC MTG INVT TR | COM | 70931T103 |  | 9951442 | 811700 | SH | Put | SOLE |  | 811700 | 0 | 0 |
| PERIMETER ACQUISITION CORP I | *W EXP 05/13/203 | G7010A111 |  | 120000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| PERIMETER ACQUISITION CORP I | COM CL A | G7010A129 |  | 4068000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 |  | 7040000 | 550000 | SH |  | SOLE |  | 550000 | 0 | 0 |
| PROCAP ACQUISITION CORP | *W EXP 05/16/203 | G7257A121 |  | 21667 | 33334 | SH |  | SOLE |  | 33334 | 0 | 0 |
| PROCAP ACQUISITION CORP | SHS CL A | G7257A105 |  | 1027021 | 100002 | SH |  | SOLE |  | 100002 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 5726000 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| PYROPHYTE ACQUISITION CORP. | *W EXP 07/30/203 | G7309T110 |  | 43750 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| PYROPHYTE ACQUISITION CORP. | CL A SHS | G7309T102 |  | 2490000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| REDWOOD TRUST INC | COM | 758075402 |  | 1447500 | 250000 | SH | Put | SOLE |  | 250000 | 0 | 0 |
| REDWOOD TRUST INC | NOTE 7.750% 6/1 | 758075AF2 |  | 2510211 | 2500000 | PRN |  | SOLE |  | 2500000 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | NOTE 3.625%10/1 | 76954AAD5 |  | 25270363 | 27500000 | PRN |  | SOLE |  | 27500000 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 479100 | 10000 | SH | Put | SOLE |  | 10000 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 440772 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| RWT HLDGS INC | NOTE 5.750%10/0 | 749772AD1 |  | 17993933 | 18056000 | PRN |  | SOLE |  | 18056000 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 6866640 | 61200 | SH | Put | SOLE |  | 61200 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 26332667 | 234694 | SH |  | SOLE |  | 234694 | 0 | 0 |
| SAPIENS INTL CORP N V | SHS | G7T16G103 |  | 83887195 | 1950865 | SH |  | SOLE |  | 1950865 | 0 | 0 |
| SCIENCE APPLICATIONS INTL CO | COM | 808625107 |  | 5636547 | 56700 | SH | Put | SOLE |  | 56700 | 0 | 0 |
| SHAKE SHACK INC | NOTE 3/0 | 819047AB7 |  | 11895001 | 12500000 | PRN |  | SOLE |  | 12500000 | 0 | 0 |
| SIDDHI ACQUISITION CORP | CL A SHS | G8118C124 |  | 3045000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| SIDDHI ACQUISITION CORP | RIGHT 09/15/2029 | G8118C116 |  | 60300 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 24094281 | 1035200 | SH | Call | SOLE |  | 1035200 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 233172 | 10200 | SH | Put | SOLE |  | 10200 | 0 | 0 |
| SL GREEN RLTY CORP | COM | 78440X887 |  | 1718999 | 28741 | SH |  | SOLE |  | 28741 | 0 | 0 |
| SMITHFIELD FOODS INC | COM | 832248207 |  | 1878400 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| SOLARIUS CAPITAL ACQU CORP | *W EXP 07/10/203 | G82617112 |  | 37230 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| SOLARIUS CAPITAL ACQU CORP | SHS CL A | G82617104 |  | 2988000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 28151866 | 385642 | SH |  | SOLE |  | 385642 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 1820400 | 15000 | SH | Put | SOLE |  | 15000 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 1838725 | 15151 | SH |  | SOLE |  | 15151 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 638200 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 173789283 | 488900 | SH | Put | SOLE |  | 488900 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 454001670 | 681500 | SH | Call | SOLE |  | 681500 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 206982126 | 310700 | SH | Put | SOLE |  | 310700 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 464327 | 697 | SH |  | SOLE |  | 697 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 4298516 | 54870 | SH |  | SOLE |  | 54870 | 0 | 0 |
| SPDR SERIES TRUST | S OILGAS EXP | 78468R556 |  | 65439000 | 495000 | SH | Put | SOLE |  | 495000 | 0 | 0 |
| SPIRIT AEROSYSTEMS INC | NOTE 3.250%11/0 | 85205TAQ3 |  | 27991185 | 19000000 | PRN |  | SOLE |  | 19000000 | 0 | 0 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 2117141 | 109300 | SH | Put | SOLE |  | 109300 | 0 | 0 |
| STEELCASE INC | CL A | 858155203 |  | 95407454 | 5546945 | SH |  | SOLE |  | 5546945 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 42853930 | 133000 | SH | Put | SOLE |  | 133000 | 0 | 0 |
| STRATEGY INC | NOTE 0.625% 3/1 | 594972AJ0 |  | 36081130 | 16107000 | PRN |  | SOLE |  | 16107000 | 0 | 0 |
| STUBHUB HLDGS INC | CL A | 86384P109 |  | 3368000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 94651381 | 338900 | SH | Put | SOLE |  | 338900 | 0 | 0 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 24472000 | 200000 | SH | Put | SOLE |  | 200000 | 0 | 0 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 24461232 | 199912 | SH |  | SOLE |  | 199912 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 17655384 | 39700 | SH | Put | SOLE |  | 39700 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 1482000 | 475000 | SH |  | SOLE |  | 475000 | 0 | 0 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 9294720 | 123600 | SH | Put | SOLE |  | 123600 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 3769068 | 231800 | SH | Call | SOLE |  | 231800 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 6783672 | 417200 | SH | Put | SOLE |  | 417200 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 6783022 | 417160 | SH |  | SOLE |  | 417160 | 0 | 0 |
| TRONOX HOLDINGS PLC | SHS | G9087Q102 |  | 1206000 | 300000 | SH | Call | SOLE |  | 300000 | 0 | 0 |
| TRUMP MEDIA  TECHNOLOGY GRO | COM | 25400Q105 |  | 6408726 | 390300 | SH | Put | SOLE |  | 390300 | 0 | 0 |
| TRUMP MEDIA  TECHNOLOGY GRO | COM | 25400Q105 |  | 5167637 | 314716 | SH |  | SOLE |  | 314716 | 0 | 0 |
| TWO HARBORS INVENTMENT CORPO | NOTE 6.250% 1/1 | 90187BAB7 |  | 61398033 | 62077000 | PRN |  | SOLE |  | 62077000 | 0 | 0 |
| TXNM ENERGY INC | NOTE 5.750% 6/0 | 69349HAF4 |  | 29452240 | 22500000 | PRN |  | SOLE |  | 22500000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 4261695 | 43500 | SH | Call | SOLE |  | 43500 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 5104237 | 52100 | SH | Put | SOLE |  | 52100 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 48714897 | 497243 | SH |  | SOLE |  | 497243 | 0 | 0 |
| VANECK ETHEREUM TR | SHS | 92189L103 |  | 4388666 | 72028 | SH |  | SOLE |  | 72028 | 0 | 0 |
| VERINT SYS INC | COM | 92343X100 |  | 55137956 | 2722862 | SH |  | SOLE |  | 2722862 | 0 | 0 |
| VERONA PHARMA PLC | SPONSORED ADS | 925050106 |  | 454966195 | 4263576 | SH |  | SOLE |  | 4263576 | 0 | 0 |
| VERTEX INC | NOTE 0.750% 5/0 | 92538JAB2 |  | 15281102 | 15000000 | PRN |  | SOLE |  | 15000000 | 0 | 0 |
| VERTICAL AEROSPACE LTD | SHS NEW | G9471C206 |  | 2595000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| VIA TRANSN INC | COM CL A | 92556W104 |  | 480800 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| VITA COCO CO INC | COM | 92846Q107 |  | 849400 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| VOLATILITY SHS TR | SOLANA ETF | 92864M822 |  | 6936832 | 313600 | SH | Put | SOLE |  | 313600 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 8104950 | 415000 | SH | Call | SOLE |  | 415000 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 34177500 | 1750000 | SH |  | SOLE |  | 1750000 | 0 | 0 |
| WATERBRIDGE INFRASTRUCTURE L | CL A SHS REPSTG | 940923105 |  | 252200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| WAYFAIR INC | NOTE 3.250% 9/1 | 94419LAP6 |  | 57082749 | 37500000 | PRN |  | SOLE |  | 37500000 | 0 | 0 |
| WAYFAIR INC | NOTE 3.500%11/1 | 94419LAR2 |  | 51463640 | 24805000 | PRN |  | SOLE |  | 24805000 | 0 | 0 |
| WAYSTAR HLDG CORP | COM | 946784105 |  | 3792000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 1015398 | 5700 | SH | Call | SOLE |  | 5700 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 1015398 | 5700 | SH | Put | SOLE |  | 5700 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 3451605 | 28749 | SH |  | SOLE |  | 28749 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 |  | 1572000 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| WNS HLDGS LTD | COM SHS | G98196101 |  | 150098750 | 1967992 | SH |  | SOLE |  | 1967992 | 0 | 0 |
| WOLFSPEED INC | COMMON STOCK | 97785W106 |  | 1073986 | 37552 | SH | Call | SOLE |  | 37552 | 0 | 0 |
| WOLFSPEED INC | COMMON STOCK | 97785W106 |  | 1682424 | 58826 | SH |  | SOLE |  | 58826 | 0 | 0 |

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