# EDGAR Filing Document

**Accession Number:** 0001810873
**File Stem:** 0001420506-26-000513
**Filing Date:** 2026-2
**Character Count:** 43218
**Document Hash:** e11b7347e82ed098bab3de3e84be60ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-000513.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001420506-26-000513

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elequin Capital, LP
- **CENTRAL INDEX KEY:** 0001810873

**ORGANIZATION NAME:**
- **EIN:** 843389464
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 2549006ENPKYJVKCL975

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22205
- **FILM NUMBER:** 26639272

**BUSINESS ADDRESS:**
- **STREET 1:** 1333 BROADWAY
- **STREET 2:** SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 6468146717

**MAIL ADDRESS:**
- **STREET 1:** 1333 BROADWAY
- **STREET 2:** SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Elequin Securities, LLC
- **DATE OF NAME CHANGE:** 20230117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ELEQUIN CAPITAL LP
- **DATE OF NAME CHANGE:** 20200428

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Elequin Capital LP<br>**Address:** 1333 BROADWAY<br>SUITE 500<br>NEW YORK, NY 10018

**Form 13F File Number:** 028-22205

**CRD Number (if applicable):** 000308371

**SEC File Number (if applicable):** 802-128325

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:** James Finlayson<br>**Title:** Chief Operating Officer<br>**Phone:** 929-346-7126

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

James Finlayson Chief Operating Officer  NEW YORK, NY  02-13-2026<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:** 409

**Form 13F Information Table Value Total:** $1345138750

      (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 |
| AB ACTIVE ETFS INC | TAX AWARE INTERM | 00039J889 |  | 2238511 | 88061 | SH |  | SOLE |  | 88061 | 0 | 0 |
| ADVANCED ENERGY INDS | COM | 007973100 |  | 18425 | 88 | SH |  | SOLE |  | 88 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 22312260 | 104185 | SH |  | SOLE |  | 104185 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 428320 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 22700960 | 106000 | SH | Put | SOLE |  | 106000 | 0 | 0 |
| AEROVIRONMENT INC | COM | 008073108 |  | 8950 | 37 | SH |  | SOLE |  | 37 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 11760 | 158 | SH |  | SOLE |  | 158 | 0 | 0 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 57411 | 658 | SH |  | SOLE |  | 658 | 0 | 0 |
| ALARM COM HLDGS INC | COM | 011642105 |  | 2500 | 49 | SH |  | SOLE |  | 49 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 220081 | 1556 | SH |  | SOLE |  | 1556 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 181026 | 1235 | SH |  | SOLE |  | 1235 | 0 | 0 |
| ALIGNMENT HEALTHCARE INC | COM | 01625V104 |  | 5530 | 280 | SH |  | SOLE |  | 280 | 0 | 0 |
| ALKAMI TECHNOLOGY INC | COM | 01644J108 |  | 2538 | 110 | SH |  | SOLE |  | 110 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 14302 | 220 | SH |  | SOLE |  | 220 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 38572 | 97 | SH |  | SOLE |  | 97 | 0 | 0 |
| ALPHATEC HLDGS INC | COM NEW | 02081G201 |  | 11130 | 529 | SH |  | SOLE |  | 529 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 34623000 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 34623000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 1175 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| AMPHASTAR PHARMACEUTICALS IN | COM | 03209R103 |  | 723 | 27 | SH |  | SOLE |  | 27 | 0 | 0 |
| ANI PHARMACEUTICALS INC | COM | 00182C103 |  | 4026 | 51 | SH |  | SOLE |  | 51 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 98147 | 678 | SH |  | SOLE |  | 678 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 13593000 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 13593272 | 50001 | SH |  | SOLE |  | 50001 | 0 | 0 |
| APPLIED DIGITAL CORP | COM NEW | 038169207 |  | 29816 | 1216 | SH |  | SOLE |  | 1216 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 14062 | 87 | SH |  | SOLE |  | 87 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | 6.75 SE B PFD | 03990B309 |  | 574344 | 11432 | SH |  | SOLE |  | 11432 | 0 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 48961 | 1686 | SH |  | SOLE |  | 1686 | 0 | 0 |
| ARRAY TECHNOLOGIES INC | COM SHS | 04271T100 |  | 4721 | 512 | SH |  | SOLE |  | 512 | 0 | 0 |
| ASCENDIS PHARMA A/S | SPONSORED ADR | 04351P101 |  | 10875 | 51 | SH |  | SOLE |  | 51 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 106986 | 100 | SH | Put | SOLE |  | 100 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 106986 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 35734 | 492 | SH |  | SOLE |  | 492 | 0 | 0 |
| AURORA INNOVATION INC | CLASS A COM | 051774107 |  | 5426 | 1413 | SH |  | SOLE |  | 1413 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 4471 | 93 | SH |  | SOLE |  | 93 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 19878 | 35 | SH |  | SOLE |  | 35 | 0 | 0 |
| AXON ENTERPRISE INC | NOTE  0.500%12/1 | 05464CAB7 |  | 70148372 | 27856000 | PRN |  | SOLE |  | 0 | 0 | 27856000 |
| B2GOLD CORP | COM | 11777Q209 |  | 15722 | 3486 | SH |  | SOLE |  | 3486 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 7645 | 139 | SH |  | SOLE |  | 139 | 0 | 0 |
| BENTLEY SYS INC | COM CL B | 08265T208 |  | 153 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| BILL HOLDINGS INC | COM | 090043100 |  | 7527 | 138 | SH |  | SOLE |  | 138 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 238 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| BITDEER TECHNOLOGIES GROUP | CL A ORD SHS | G11448100 |  | 11737 | 1047 | SH |  | SOLE |  | 1047 | 0 | 0 |
| BITFARMS LTD | COM | 09173B107 |  | 3925 | 1670 | SH |  | SOLE |  | 1670 | 0 | 0 |
| BITWISE BITCOIN ETF TR | SHS BEN INT | 09174C104 |  | 7609600 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| BITWISE SOLANA STAKING ETF | COM SHS OF BENEF | 091948109 |  | 64543840 | 3935600 | SH |  | SOLE |  | 3935600 | 0 | 0 |
| BLACKLINE INC | COM | 09239B109 |  | 8404 | 152 | SH |  | SOLE |  | 152 | 0 | 0 |
| BLACKROCK ETF TRUST II | SHORT DURATION H | 092528108 |  | 633092 | 28492 | SH |  | SOLE |  | 28492 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES INTERMED | 092528207 |  | 536477 | 22316 | SH |  | SOLE |  | 22316 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES AAA CLO | 092528504 |  | 10401 | 201 | SH |  | SOLE |  | 201 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES HIGH YIE | 092528843 |  | 1118569 | 22978 | SH |  | SOLE |  | 22978 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES BBB B CL | 092528850 |  | 42805 | 863 | SH |  | SOLE |  | 863 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES SHORT-TE | 092528884 |  | 1466620 | 29065 | SH |  | SOLE |  | 29065 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 130 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| BLOOM ENERGY CORP | COM CL A | 093712107 |  | 17986 | 207 | SH |  | SOLE |  | 207 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 349563 | 1610 | SH |  | SOLE |  | 1610 | 0 | 0 |
| BOX INC | CL A | 10316T104 |  | 4367 | 146 | SH |  | SOLE |  | 146 | 0 | 0 |
| BOX INC | NOTE         1/1 | 10316TAB0 |  | 26883336 | 22938000 | PRN |  | SOLE |  | 0 | 0 | 22938000 |
| BRIDGEBIO PHARMA INC | COM | 10806X102 |  | 52013 | 680 | SH |  | SOLE |  | 680 | 0 | 0 |
| BRIDGER AEROSPACE GRP HLDGS | *W EXP 01/24/202 | 96812F110 |  | 9435 | 47317 | SH |  | SOLE |  | 0 | 0 | 47317 |
| BRIGHTSPRING HEALTH SVCS INC | COM | 10950A106 |  | 7116 | 190 | SH |  | SOLE |  | 190 | 0 | 0 |
| BRIGHTSPRING HEALTH SVCS INC | UNIT 02/01/2027 | 10950A205 |  | 16572 | 131 | SH |  | SOLE |  | 131 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 17305000 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 17305000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| BROOKDALE SR LIVING INC | COM | 112463104 |  | 960 | 89 | SH |  | SOLE |  | 89 | 0 | 0 |
| BRUKER CORP | COM | 116794108 |  | 10882 | 231 | SH |  | SOLE |  | 231 | 0 | 0 |
| BRUKER CORP | 6.375 PREF SER A | 116794207 |  | 31365 | 86 | SH |  | SOLE |  | 86 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 2600 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 12790 | 74 | SH |  | SOLE |  | 74 | 0 | 0 |
| BXP INC | COM | 101121101 |  | 10055 | 149 | SH |  | SOLE |  | 149 | 0 | 0 |
| CALAMOS ETF TR | CONVERTIBLE EQTY | 12811T308 |  | 57054 | 1497 | SH |  | SOLE |  | 1497 | 0 | 0 |
| CALAMOS ETF TR | AUTOCALLABLE INC | 12811T571 |  | 882821 | 33015 | SH |  | SOLE |  | 33015 | 0 | 0 |
| CAMTEK LTD | ORD | M20791105 |  | 12336 | 116 | SH |  | SOLE |  | 116 | 0 | 0 |
| CAPITAL GRP FIXED INCM ETF T | MUNICIPAL INCOME | 14020Y201 |  | 439449 | 16050 | SH |  | SOLE |  | 16050 | 0 | 0 |
| CAPITAL GRP FIXED INCM ETF T | SHORT DURATION M | 14020Y607 |  | 312445 | 11862 | SH |  | SOLE |  | 11862 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 24921 | 650 | SH |  | SOLE |  | 650 | 0 | 0 |
| CENTRUS ENERGY CORP | CL A | 15643U104 |  | 43940 | 181 | SH |  | SOLE |  | 181 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 4639 | 25 | SH |  | SOLE |  | 25 | 0 | 0 |
| CHEESECAKE FACTORY INC | COM | 163072101 |  | 6007 | 119 | SH |  | SOLE |  | 119 | 0 | 0 |
| CHEFS WHSE INC | COM | 163086101 |  | 6295 | 101 | SH |  | SOLE |  | 101 | 0 | 0 |
| CIPHER MINING INC | COM | 17253J106 |  | 25594 | 1734 | SH |  | SOLE |  | 1734 | 0 | 0 |
| CLEANSPARK INC | COM NEW | 18452B209 |  | 20959 | 2071 | SH |  | SOLE |  | 2071 | 0 | 0 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 45739 | 232 | SH |  | SOLE |  | 232 | 0 | 0 |
| CMS ENERGY CORP | COM | 125896100 |  | 18112 | 259 | SH |  | SOLE |  | 259 | 0 | 0 |
| CNX RES CORP | COM | 12653C108 |  | 16436 | 447 | SH |  | SOLE |  | 447 | 0 | 0 |
| COHU INC | COM | 192576106 |  | 2141 | 92 | SH |  | SOLE |  | 92 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 4383950 | 19386 | SH |  | SOLE |  | 19386 | 0 | 0 |
| COINSHARES BITCOIN ETF | COM | 91916J100 |  | 63037 | 2549 | SH |  | SOLE |  | 2549 | 0 | 0 |
| COMMVAULT SYS INC | COM | 204166102 |  | 7647 | 61 | SH |  | SOLE |  | 61 | 0 | 0 |
| CONFLUENT INC | CLASS A COM | 20717M103 |  | 514 | 17 | SH |  | SOLE |  | 17 | 0 | 0 |
| CONMED CORP | COM | 207410101 |  | 122 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| COPT DEFENSE PROPERTIES | SHS BEN INT | 22002T108 |  | 2224 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 22335 | 1534 | SH |  | SOLE |  | 1534 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 12460 | 174 | SH |  | SOLE |  | 174 | 0 | 0 |
| CRACKER BARREL OLD CTRY STOR | COM | 22410J106 |  | 864 | 34 | SH |  | SOLE |  | 34 | 0 | 0 |
| CSG SYS INTL INC | COM | 126349109 |  | 9970 | 130 | SH |  | SOLE |  | 130 | 0 | 0 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 17842 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| CYTOKINETICS INC | COM NEW | 23282W605 |  | 13089 | 206 | SH |  | SOLE |  | 206 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 8295 | 61 | SH |  | SOLE |  | 61 | 0 | 0 |
| DENISON MINES CORP | COM | 248356107 |  | 4354 | 1637 | SH |  | SOLE |  | 1637 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 3319 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 6962 | 45 | SH |  | SOLE |  | 45 | 0 | 0 |
| DIGITALOCEAN HLDGS INC | COM | 25402D102 |  | 16553 | 344 | SH |  | SOLE |  | 344 | 0 | 0 |
| DIMENSIONAL ETF TRUST | CALIF MUN BD ETF | 25434V633 |  | 1710539 | 34156 | SH |  | SOLE |  | 34156 | 0 | 0 |
| DIMENSIONAL ETF TRUST | NATL MUN BD ETF | 25434V849 |  | 4784437 | 99324 | SH |  | SOLE |  | 99324 | 0 | 0 |
| DIREXION SHS ETF TR | CSI 300 BULL2X | 25490K869 |  | 56047 | 2667 | SH |  | SOLE |  | 2667 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 37822 | 167 | SH |  | SOLE |  | 167 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 1792 | 52 | SH |  | SOLE |  | 52 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 6172 | 222 | SH |  | SOLE |  | 222 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 20395 | 174 | SH |  | SOLE |  | 174 | 0 | 0 |
| ENDEAVOUR SILVER CORP | COM | 29258Y103 |  | 3525 | 375 | SH |  | SOLE |  | 375 | 0 | 0 |
| ENERGY FUELS INC | COM NEW | 292671708 |  | 9858 | 678 | SH |  | SOLE |  | 678 | 0 | 0 |
| ENOVIS CORPORATION | COM | 194014502 |  | 2424 | 91 | SH |  | SOLE |  | 91 | 0 | 0 |
| ENOVIX CORPORATION | COM | 293594107 |  | 6009 | 822 | SH |  | SOLE |  | 822 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 64 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| ENTREPRENEURSHARES SERIES TR | ERSHARES PRIVATE | 293828877 |  | 5035000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| ENVISTA HOLDINGS CORPORATION | COM | 29415F104 |  | 1324 | 61 | SH |  | SOLE |  | 61 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 8286 | 723 | SH |  | SOLE |  | 723 | 0 | 0 |
| ESGL HLDGS LTD | *W EXP 10/19/202 | G3R95P116 |  | 2000 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| ETF OPPORTUNITIES TRUST | REX BITCOIN CORP | 26923N322 |  | 476262 | 20670 | SH |  | SOLE |  | 20670 | 0 | 0 |
| ETF OPPORTUNITIES TRUST | T REX 2X INVERSE | 26923N413 |  | 6311 | 368 | SH |  | SOLE |  | 368 | 0 | 0 |
| ETSY INC | COM | 29786A106 |  | 13028 | 235 | SH |  | SOLE |  | 235 | 0 | 0 |
| EURONET WORLDWIDE INC | COM | 298736109 |  | 6545 | 86 | SH |  | SOLE |  | 86 | 0 | 0 |
| EVERGY INC | COM | 30034W106 |  | 33055 | 456 | SH |  | SOLE |  | 456 | 0 | 0 |
| EVOLENT HEALTH INC | CL A | 30050B101 |  | 240 | 60 | SH |  | SOLE |  | 60 | 0 | 0 |
| EXACT SCIENCES CORP | COM | 30063P105 |  | 54741 | 539 | SH |  | SOLE |  | 539 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 1874 | 43 | SH |  | SOLE |  | 43 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 26631 | 94 | SH |  | SOLE |  | 94 | 0 | 0 |
| EXPEDIA GROUP INC | NOTE         2/1 | 30212PBE4 |  | 11643970 | 10415000 | PRN |  | SOLE |  | 0 | 0 | 10415000 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 361020 | 3000 | SH | Call | SOLE |  | 3000 | 0 | 0 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 |  | 3830 | 38 | SH |  | SOLE |  | 38 | 0 | 0 |
| FIDELITY SOLANA FD | BENEFICIAL INT | 31641G104 |  | 5365006 | 367718 | SH |  | SOLE |  | 367718 | 0 | 0 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 609840 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| FIRST MAJESTIC SILVER CORP | COM | 32076V103 |  | 3649 | 219 | SH |  | SOLE |  | 219 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | MANAGD MUN ETF | 33739N108 |  | 870676 | 17027 | SH |  | SOLE |  | 17027 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | EME MRK BD ETF | 33739P202 |  | 181363 | 6086 | SH |  | SOLE |  | 6086 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | MUNI HI INCM ETF | 33739P301 |  | 340574 | 7105 | SH |  | SOLE |  | 7105 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | SHRT DUR MNG MUN | 33739P830 |  | 1041638 | 51965 | SH |  | SOLE |  | 51965 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | INSTL PFD SECS | 33739P855 |  | 12061 | 622 | SH |  | SOLE |  | 622 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | BUYWRIT INCM ETF | 33738R308 |  | 812150 | 34384 | SH |  | SOLE |  | 34384 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ BUYWRITE | 33738R407 |  | 135455 | 6506 | SH |  | SOLE |  | 6506 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SENIOR LN FD | 33738D309 |  | 3625 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SSI STRG ETF | 33739Q507 |  | 753279 | 17504 | SH |  | SOLE |  | 17504 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 |  | 31518 | 704 | SH |  | SOLE |  | 704 | 0 | 0 |
| FIVE9 INC | COM | 338307101 |  | 722 | 36 | SH |  | SOLE |  | 36 | 0 | 0 |
| FLUENCE ENERGY INC | COM CL A | 34379V103 |  | 7892 | 399 | SH |  | SOLE |  | 399 | 0 | 0 |
| FLUOR CORP NEW | COM | 343412102 |  | 9155 | 231 | SH |  | SOLE |  | 231 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 34361 | 2619 | SH |  | SOLE |  | 2619 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | INCOME FOCUS ETF | 35473P439 |  | 25180 | 898 | SH |  | SOLE |  | 898 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | SENIOR LOAN ETF | 35473P595 |  | 35107 | 1499 | SH |  | SOLE |  | 1499 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | FRANKLIN DYN MUN | 35473P868 |  | 4643279 | 186702 | SH |  | SOLE |  | 186702 | 0 | 0 |
| FRESHPET INC | COM | 358039105 |  | 5545 | 91 | SH |  | SOLE |  | 91 | 0 | 0 |
| GALAXY DIGITAL INC. | CL A | 36317J209 |  | 9346 | 418 | SH |  | SOLE |  | 418 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 36847 | 1835 | SH |  | SOLE |  | 1835 | 0 | 0 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 14135 | 405 | SH |  | SOLE |  | 405 | 0 | 0 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 12461 | 161 | SH |  | SOLE |  | 161 | 0 | 0 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 6065 | 163 | SH |  | SOLE |  | 163 | 0 | 0 |
| GRANITE CONSTR INC | COM | 387328107 |  | 35874 | 311 | SH |  | SOLE |  | 311 | 0 | 0 |
| GRANITESHARES ETF TR | YIELDBOOST TSLA | 38747R611 |  | 6432 | 1159 | SH |  | SOLE |  | 1159 | 0 | 0 |
| GRAYSCALE SOLANA TR ETF | SHS | 38965D104 |  | 15930506 | 1750605 | SH |  | SOLE |  | 1750605 | 0 | 0 |
| GREENBRIER COS INC | COM | 393657101 |  | 4721 | 101 | SH |  | SOLE |  | 101 | 0 | 0 |
| GUARDANT HEALTH INC | COM | 40131M109 |  | 37077 | 363 | SH |  | SOLE |  | 363 | 0 | 0 |
| GUESS INC | COM | 401617105 |  | 4724 | 282 | SH |  | SOLE |  | 282 | 0 | 0 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 |  | 7638 | 38 | SH |  | SOLE |  | 38 | 0 | 0 |
| H WORLD GROUP LTD | SPONSORED ADS | 44332N106 |  | 15338 | 326 | SH |  | SOLE |  | 326 | 0 | 0 |
| HA SUSTAINABLE INFRA CAP INC | COM | 41068X100 |  | 7858 | 250 | SH |  | SOLE |  | 250 | 0 | 0 |
| HAEMONETICS CORP MASS | COM | 405024100 |  | 8736 | 109 | SH |  | SOLE |  | 109 | 0 | 0 |
| HALOZYME THERAPEUTICS INC | COM | 40637H109 |  | 34592 | 514 | SH |  | SOLE |  | 514 | 0 | 0 |
| HERBALIFE LTD | COM SHS | G4412G101 |  | 2166 | 168 | SH |  | SOLE |  | 168 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 1374 | 73 | SH |  | SOLE |  | 73 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 90990 | 500 | SH | Put | SOLE |  | 500 | 0 | 0 |
| HERTZ GLOBAL HLDGS INC | COM NEW | 42806J700 |  | 6389 | 1243 | SH |  | SOLE |  | 1243 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 237606 | 9892 | SH |  | SOLE |  | 9892 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 7988 | 246 | SH |  | SOLE |  | 246 | 0 | 0 |
| IMAX CORP | COM | 45245E109 |  | 517 | 14 | SH |  | SOLE |  | 14 | 0 | 0 |
| IMMUNOCORE HLDGS PLC | ADS | 45258D105 |  | 1284 | 37 | SH |  | SOLE |  | 37 | 0 | 0 |
| INNOVIVA INC | COM | 45781M101 |  | 1339 | 67 | SH |  | SOLE |  | 67 | 0 | 0 |
| INTEGER HLDGS CORP | COM | 45826H109 |  | 8000 | 102 | SH |  | SOLE |  | 102 | 0 | 0 |
| INTERDIGITAL INC | COM | 45867G101 |  | 54761 | 172 | SH |  | SOLE |  | 172 | 0 | 0 |
| INTUITIVE MACHINES INC | CLASS A COM | 46125A100 |  | 5956 | 367 | SH |  | SOLE |  | 367 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | AAA CLO FLTNG RT | 46090A721 |  | 5570 | 218 | SH |  | SOLE |  | 218 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | VAR RATE INVT | 46090A879 |  | 3564 | 142 | SH |  | SOLE |  | 142 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | CALIF AMT MUN | 46138E206 |  | 1472721 | 60957 | SH |  | SOLE |  | 60957 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULTSHS 2035 MUN | 46138J353 |  | 2169962 | 85314 | SH |  | SOLE |  | 85314 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULLETSHS 31 MUN | 46138J411 |  | 1536197 | 72685 | SH |  | SOLE |  | 72685 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | INVSC 30 MUNI BD | 46138J445 |  | 1453210 | 65980 | SH |  | SOLE |  | 65980 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2029 MUNI | 46138J478 |  | 1804218 | 77936 | SH |  | SOLE |  | 77936 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2028 MUNI | 46138J486 |  | 28130 | 1197 | SH |  | SOLE |  | 1197 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2027 MUNI | 46138J494 |  | 3675111 | 155296 | SH |  | SOLE |  | 155296 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2026 MUNI | 46138J510 |  | 1318138 | 55747 | SH |  | SOLE |  | 55747 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULLETSHARE 2034 | 46139W767 |  | 808402 | 32887 | SH |  | SOLE |  | 32887 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | INVESCO BULLETSH | 46139W791 |  | 2269009 | 87759 | SH |  | SOLE |  | 87759 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULLETSHS 32 MUN | 46139W833 |  | 875962 | 34885 | SH |  | SOLE |  | 34885 | 0 | 0 |
| IONIS PHARMACEUTICALS INC | COM | 462222100 |  | 56247 | 711 | SH |  | SOLE |  | 711 | 0 | 0 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 |  | 76673 | 2030 | SH |  | SOLE |  | 2030 | 0 | 0 |
| IRHYTHM TECHNOLOGIES INC | COM | 450056106 |  | 15082 | 85 | SH |  | SOLE |  | 85 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 6454500 | 130000 | SH | Call | SOLE |  | 130000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1387966 | 27955 | SH |  | SOLE |  | 27955 | 0 | 0 |
| ISHARES INC | US POWER INFRAST | 464286343 |  | 78637 | 3342 | SH |  | SOLE |  | 3342 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 1304949 | 6204 | SH |  | SOLE |  | 6204 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 7385 | 30 | SH |  | SOLE |  | 30 | 0 | 0 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 27515 | 541 | SH |  | SOLE |  | 541 | 0 | 0 |
| ISHARES TR | HDG MSCI EAFE | 46434V803 |  | 115353 | 2789 | SH |  | SOLE |  | 2789 | 0 | 0 |
| ISHARES TR | IBONDS DEC 26 | 46435U259 |  | 179331 | 6995 | SH |  | SOLE |  | 6995 | 0 | 0 |
| ISHARES TR | IBONDS DEC 27 | 46435U283 |  | 153457 | 6044 | SH |  | SOLE |  | 6044 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2029 | 46436E163 |  | 773225 | 30406 | SH |  | SOLE |  | 30406 | 0 | 0 |
| ISHARES TR | 20+ YEAR TR BD | 46436E338 |  | 1232999 | 54389 | SH |  | SOLE |  | 54389 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2031 | 46438G356 |  | 1179142 | 45439 | SH |  | SOLE |  | 45439 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2030 | 46438G687 |  | 499674 | 19174 | SH |  | SOLE |  | 19174 | 0 | 0 |
| ISHARES U S ETF TR | SHORT MATURITY M | 46431W838 |  | 794150 | 15782 | SH |  | SOLE |  | 15782 | 0 | 0 |
| ITRON INC | COM | 465741106 |  | 11329 | 122 | SH |  | SOLE |  | 122 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | INCOME ETF | 46641Q159 |  | 14072 | 304 | SH |  | SOLE |  | 304 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 874054 | 17308 | SH |  | SOLE |  | 17308 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 7175969 | 140871 | SH |  | SOLE |  | 140871 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | HIGH YIELD MUNI | 46654Q799 |  | 516269 | 10274 | SH |  | SOLE |  | 10274 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | SUSTAINABLE MUNI | 46654Q815 |  | 2341722 | 46481 | SH |  | SOLE |  | 46481 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSN SHRT ETF | 47103U886 |  | 3440 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 |  | 45560 | 268 | SH |  | SOLE |  | 268 | 0 | 0 |
| JBT MAREL CORPORATION | COM | 477839104 |  | 12807 | 85 | SH |  | SOLE |  | 85 | 0 | 0 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 12685 | 442 | SH |  | SOLE |  | 442 | 0 | 0 |
| JETBLUE AWYS CORP | COM | 477143101 |  | 7953 | 1748 | SH |  | SOLE |  | 1748 | 0 | 0 |
| JPMORGAN CHASE FINL CO LLC | CAL LKD 44 | 48133Q309 |  | 102502 | 3427 | SH |  | SOLE |  | 3427 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 18357 | 144 | SH |  | SOLE |  | 144 | 0 | 0 |
| KKR  CO INC | 6.25 CON SER D | 48251W500 |  | 405173 | 7842 | SH |  | SOLE |  | 7842 | 0 | 0 |
| KOSMOS ENERGY LTD | COM | 500688106 |  | 572 | 630 | SH |  | SOLE |  | 630 | 0 | 0 |
| LANTHEUS HLDGS INC | COM | 516544103 |  | 7919 | 119 | SH |  | SOLE |  | 119 | 0 | 0 |
| LCI INDS | COM | 50189K103 |  | 9586 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| LI AUTO INC | SPONSORED ADS | 50202M102 |  | 3386 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 8176 | 83 | SH |  | SOLE |  | 83 | 0 | 0 |
| LIFE360 INC | COM | 532206109 |  | 1026 | 16 | SH |  | SOLE |  | 16 | 0 | 0 |
| LIGAND PHARMACEUTICALS INC | COM NEW | 53220K504 |  | 6428 | 34 | SH |  | SOLE |  | 34 | 0 | 0 |
| LITHIUM ARGENTINA AG | COM SHS | H5012F103 |  | 73 | 13 | SH |  | SOLE |  | 13 | 0 | 0 |
| LIVANOVA PLC | SHS | G5509L101 |  | 3200 | 52 | SH |  | SOLE |  | 52 | 0 | 0 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 |  | 91913 | 645 | SH |  | SOLE |  | 645 | 0 | 0 |
| LUCID GROUP INC | COM NEW | 549498202 |  | 20855 | 1973 | SH |  | SOLE |  | 1973 | 0 | 0 |
| LUMENTUM HLDGS INC | COM | 55024U109 |  | 273862 | 743 | SH |  | SOLE |  | 743 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 15438 | 797 | SH |  | SOLE |  | 797 | 0 | 0 |
| MAKEMYTRIP LIMITED MAURITIUS | SHS | V5633W109 |  | 15274 | 186 | SH |  | SOLE |  | 186 | 0 | 0 |
| MARA HOLDINGS INC | COM | 565788106 |  | 9079 | 1011 | SH |  | SOLE |  | 1011 | 0 | 0 |
| MARRIOTT VACATIONS WORLDWIDE | COM | 57164Y107 |  | 750 | 13 | SH |  | SOLE |  | 13 | 0 | 0 |
| MATCH GROUP INC NEW | COM | 57667L107 |  | 1195 | 37 | SH |  | SOLE |  | 37 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 4421 | 42 | SH |  | SOLE |  | 42 | 0 | 0 |
| MERIT MED SYS INC | COM | 589889104 |  | 12868 | 146 | SH |  | SOLE |  | 146 | 0 | 0 |
| MERITAGE HOMES CORP | COM | 59001A102 |  | 2764 | 42 | SH |  | SOLE |  | 42 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 990135 | 1500 | SH | Call | SOLE |  | 1500 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1650225 | 2500 | SH | Put | SOLE |  | 2500 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 660090 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 20390 | 320 | SH |  | SOLE |  | 320 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | DEP SHS REPSTG | 595017302 |  | 1064460 | 18223 | SH |  | SOLE |  | 18223 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 120905000 | 250000 | SH | Put | SOLE |  | 250000 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 120908385 | 250007 | SH |  | SOLE |  | 250007 | 0 | 0 |
| MIRION TECHNOLOGIES INC | COM CL A | 60471A101 |  | 14052 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 |  | 9874 | 125 | SH |  | SOLE |  | 125 | 0 | 0 |
| MKS INC. | COM | 55306N104 |  | 28125 | 176 | SH |  | SOLE |  | 176 | 0 | 0 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 50217 | 994 | SH |  | SOLE |  | 994 | 0 | 0 |
| NABORS INDUSTRIES LTD | SHS | G6359F137 |  | 326 | 6 | SH |  | SOLE |  | 6 | 0 | 0 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 77511 | 926 | SH |  | SOLE |  | 926 | 0 | 0 |
| NEOGENOMICS INC | COM NEW | 64049M209 |  | 71 | 6 | SH |  | SOLE |  | 6 | 0 | 0 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUN | 45409F827 |  | 3265913 | 134234 | SH |  | SOLE |  | 134234 | 0 | 0 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUNI | 45409F843 |  | 1181942 | 49371 | SH |  | SOLE |  | 49371 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 45599 | 568 | SH |  | SOLE |  | 568 | 0 | 0 |
| NEXTERA ENERGY INC | UNIT 11/01/2027 | 65339F119 |  | 496982 | 10246 | SH |  | SOLE |  | 10246 | 0 | 0 |
| NEXTERA ENERGY INC | UNIT 06/01/2027 | 65339F663 |  | 810014 | 15708 | SH |  | SOLE |  | 15708 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 8089 | 1586 | SH |  | SOLE |  | 1586 | 0 | 0 |
| NORTHERN OIL  GAS INC | COM | 665531307 |  | 3392 | 158 | SH |  | SOLE |  | 158 | 0 | 0 |
| NORWEGIAN CRUISE LINE HLDG L | SHS | G66721104 |  | 21360 | 957 | SH |  | SOLE |  | 957 | 0 | 0 |
| NOVA LTD | COM | M7516K103 |  | 16091 | 49 | SH |  | SOLE |  | 49 | 0 | 0 |
| NOVANTA INC | COM | 67000B104 |  | 45454 | 382 | SH |  | SOLE |  | 382 | 0 | 0 |
| NUTANIX INC | CL A | 67059N108 |  | 14628 | 283 | SH |  | SOLE |  | 283 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 55950000 | 300000 | SH | Call | SOLE |  | 300000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 141740000 | 760000 | SH | Put | SOLE |  | 760000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 85916820 | 460680 | SH |  | SOLE |  | 460680 | 0 | 0 |
| ODDITY TECH LTD | SHS CL A | M7518J104 |  | 3375 | 84 | SH |  | SOLE |  | 84 | 0 | 0 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 22039 | 407 | SH |  | SOLE |  | 407 | 0 | 0 |
| ONTO INNOVATION INC | COM | 683344105 |  | 789 | 5 | SH |  | SOLE |  | 5 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | *W EXP 11/20/202 | 683712129 |  | 94 | 104 | SH |  | SOLE |  | 0 | 0 | 104 |
| OPENDOOR TECHNOLOGIES INC | *W EXP 11/20/202 | 683712137 |  | 54 | 104 | SH |  | SOLE |  | 0 | 0 | 104 |
| OPENDOOR TECHNOLOGIES INC | *W EXP 11/20/202 | 683712145 |  | 42 | 104 | SH |  | SOLE |  | 0 | 0 | 104 |
| ORMAT TECHNOLOGIES INC | COM | 686688102 |  | 6849 | 62 | SH |  | SOLE |  | 62 | 0 | 0 |
| OSCAR HEALTH INC | CL A | 687793109 |  | 4814 | 335 | SH |  | SOLE |  | 335 | 0 | 0 |
| OSI SYSTEMS INC | COM | 671044105 |  | 17854 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| PACIRA BIOSCIENCES INC | COM | 695127100 |  | 1398 | 54 | SH |  | SOLE |  | 54 | 0 | 0 |
| PAGERDUTY INC | COM | 69553P100 |  | 2111 | 161 | SH |  | SOLE |  | 161 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 3442840 | 19369 | SH |  | SOLE |  | 19369 | 0 | 0 |
| PAR TECHNOLOGY CORP | COM | 698884103 |  | 472 | 13 | SH |  | SOLE |  | 13 | 0 | 0 |
| PARSONS CORP DEL | COM | 70202L102 |  | 6736 | 109 | SH |  | SOLE |  | 109 | 0 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 6723 | 62 | SH |  | SOLE |  | 62 | 0 | 0 |
| PEABODY ENERGY CORP | COM | 704551100 |  | 8049 | 271 | SH |  | SOLE |  | 271 | 0 | 0 |
| PEBBLEBROOK HOTEL TR | COM | 70509V100 |  | 5264 | 465 | SH |  | SOLE |  | 465 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 10694 | 1736 | SH |  | SOLE |  | 1736 | 0 | 0 |
| PENNYMAC MTG INVT TR | COM | 70931T103 |  | 1519 | 121 | SH |  | SOLE |  | 121 | 0 | 0 |
| PG CORP | COM | 69331C108 |  | 24137 | 1502 | SH |  | SOLE |  | 1502 | 0 | 0 |
| PG CORP | PFD CONV SER A | 69331C306 |  | 741889 | 18132 | SH |  | SOLE |  | 18132 | 0 | 0 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 114057 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| PGIM ETF TR | AAA CLO ETF | 69344A834 |  | 308 | 6 | SH |  | SOLE |  | 6 | 0 | 0 |
| PIMCO ETF TR | SR LN ACTIVE ETF | 72201R627 |  | 4022 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| PIMCO ETF TR | MUNI INCOME OPP | 72201R635 |  | 1204560 | 26579 | SH |  | SOLE |  | 26579 | 0 | 0 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 811516 | 15484 | SH |  | SOLE |  | 15484 | 0 | 0 |
| PIMCO ETF TR | SHTRM MUN BD ACT | 72201R874 |  | 1483600 | 29419 | SH |  | SOLE |  | 29419 | 0 | 0 |
| PINNACLE WEST CAP CORP | COM | 723484101 |  | 6209 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| PLANET LABS PBC | COM CL A | 72703X106 |  | 17807 | 903 | SH |  | SOLE |  | 903 | 0 | 0 |
| PLUG POWER INC | COM NEW | 72919P202 |  | 5920 | 3005 | SH |  | SOLE |  | 3005 | 0 | 0 |
| PORCH GROUP INC | COM | 733245104 |  | 183 | 20 | SH |  | SOLE |  | 20 | 0 | 0 |
| POST HLDGS INC | COM | 737446104 |  | 8221 | 83 | SH |  | SOLE |  | 83 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 28051 | 801 | SH |  | SOLE |  | 801 | 0 | 0 |
| PROGRESS SOFTWARE CORP | COM | 743312100 |  | 4468 | 104 | SH |  | SOLE |  | 104 | 0 | 0 |
| PTC THERAPEUTICS INC | COM | 69366J200 |  | 3494 | 46 | SH |  | SOLE |  | 46 | 0 | 0 |
| Q2 HLDGS INC | COM | 74736L109 |  | 1155 | 16 | SH |  | SOLE |  | 16 | 0 | 0 |
| QFIN HOLDINGS INC | AMERICAN DEP | 88557W101 |  | 1927 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| QXO INC | COM NEW | 82846H405 |  | 4437 | 230 | SH |  | SOLE |  | 230 | 0 | 0 |
| QXO INC | 5.50 DEP PFD | 82846H504 |  | 23200 | 419 | SH |  | SOLE |  | 419 | 0 | 0 |
| RAMACO RES INC | COM CL A | 75134P600 |  | 2286 | 127 | SH |  | SOLE |  | 127 | 0 | 0 |
| RAPID7 INC | COM | 753422104 |  | 137 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| REDWOOD TRUST INC | COM | 758075402 |  | 127 | 23 | SH |  | SOLE |  | 23 | 0 | 0 |
| REPAY HLDGS CORP | COM CL A | 76029L100 |  | 391 | 107 | SH |  | SOLE |  | 107 | 0 | 0 |
| REPLIGEN CORP | COM | 759916109 |  | 7046 | 43 | SH |  | SOLE |  | 43 | 0 | 0 |
| REXFORD INDL RLTY INC | COM | 76169C100 |  | 2865 | 74 | SH |  | SOLE |  | 74 | 0 | 0 |
| RIOT PLATFORMS INC | COM | 767292105 |  | 760 | 60 | SH |  | SOLE |  | 60 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 62816 | 3187 | SH |  | SOLE |  | 3187 | 0 | 0 |
| RUBRIK INC. | CL A | 781154109 |  | 12619 | 165 | SH |  | SOLE |  | 165 | 0 | 0 |
| SAREPTA THERAPEUTICS INC | COM | 803607100 |  | 4734 | 220 | SH |  | SOLE |  | 220 | 0 | 0 |
| SCHWAB STRATEGIC TR | MUN BD ETF | 808524649 |  | 915820 | 35552 | SH |  | SOLE |  | 35552 | 0 | 0 |
| SEAGATE TECHNOLOGY HLDNGS PL | ORD SHS | G7997R103 |  | 89502 | 325 | SH |  | SOLE |  | 325 | 0 | 0 |
| SEMTECH CORP | COM | 816850101 |  | 3685 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| SHAKE SHACK INC | CL A | 819047101 |  | 406 | 5 | SH |  | SOLE |  | 5 | 0 | 0 |
| SHIFT4 PMTS INC | CL A | 82452J109 |  | 56862 | 903 | SH |  | SOLE |  | 903 | 0 | 0 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 3659 | 183 | SH |  | SOLE |  | 183 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 3397 | 421 | SH |  | SOLE |  | 421 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 70195 | 320 | SH |  | SOLE |  | 320 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 70398 | 2689 | SH |  | SOLE |  | 2689 | 0 | 0 |
| SOLAREDGE TECHNOLOGIES INC | COM | 83417M104 |  | 3375 | 117 | SH |  | SOLE |  | 117 | 0 | 0 |
| SOLARIS ENERGY INFRAS INC | COM CL A | 83418M103 |  | 11584 | 252 | SH |  | SOLE |  | 252 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 567672 | 6510 | SH |  | SOLE |  | 6510 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 594465 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 30699356 | 45019 | SH |  | SOLE |  | 45019 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A284 |  | 3310635 | 132744 | SH |  | SOLE |  | 132744 | 0 | 0 |
| SPECTRUM BRANDS HLDGS INC NE | COM | 84790A105 |  | 1359 | 23 | SH |  | SOLE |  | 23 | 0 | 0 |
| SPHERE ENTERTAINMENT CO | CL A | 55826T102 |  | 10839 | 114 | SH |  | SOLE |  | 114 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 42973 | 74 | SH |  | SOLE |  | 74 | 0 | 0 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 2503 | 139 | SH |  | SOLE |  | 139 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 4551966 | 29957 | SH |  | SOLE |  | 29957 | 0 | 0 |
| STRIDE INC | COM | 86333M108 |  | 10454 | 161 | SH |  | SOLE |  | 161 | 0 | 0 |
| SUNRUN INC | COM | 86771W105 |  | 12659 | 688 | SH |  | SOLE |  | 688 | 0 | 0 |
| SUPER MICRO COMPUTER INC | COM NEW | 86800U302 |  | 1060423 | 36229 | SH |  | SOLE |  | 36229 | 0 | 0 |
| SYNAPTICS INC | COM | 87157D109 |  | 6292 | 85 | SH |  | SOLE |  | 85 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 759725 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 759725 | 2500 | SH | Put | SOLE |  | 2500 | 0 | 0 |
| TANDEM DIABETES CARE INC | COM NEW | 875372203 |  | 1978 | 90 | SH |  | SOLE |  | 90 | 0 | 0 |
| TEMPUS AI INC | CL A | 88023B103 |  | 9271 | 157 | SH |  | SOLE |  | 157 | 0 | 0 |
| TERAWULF INC | COM | 88080T104 |  | 50970 | 4436 | SH |  | SOLE |  | 4436 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 22486000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 139413200 | 310000 | SH | Put | SOLE |  | 310000 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 119674539 | 266109 | SH |  | SOLE |  | 266109 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 7882 | 235 | SH |  | SOLE |  | 235 | 0 | 0 |
| THE BEAUTY HEALTH COMPANY | COM CL A | 88331L108 |  | 862 | 620 | SH |  | SOLE |  | 620 | 0 | 0 |
| TIDAL TRUST II | DEF DLY TGT 2X L | 88636J253 |  | 4 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| TIDAL TRUST II | YIELDMAX PLTR OP | 88636R800 |  | 30466 | 591 | SH |  | SOLE |  | 591 | 0 | 0 |
| TIDAL TRUST II | YIELDMAX SMCI | 88636R867 |  | 121500 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| TIDAL TRUST II | YIELDMAX ULTRA O | 88636X708 |  | 575367 | 15413 | SH |  | SOLE |  | 15413 | 0 | 0 |
| TOPGOLF CALLAWAY BRANDS CORP | COM | 131193104 |  | 420 | 36 | SH |  | SOLE |  | 36 | 0 | 0 |
| TRANSMEDICS GROUP INC | COM | 89377M109 |  | 13017 | 107 | SH |  | SOLE |  | 107 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 2598 | 629 | SH |  | SOLE |  | 629 | 0 | 0 |
| TRAVERE THERAPEUTICS INC | COM | 89422G107 |  | 4088 | 107 | SH |  | SOLE |  | 107 | 0 | 0 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 32288 | 449 | SH |  | SOLE |  | 449 | 0 | 0 |
| TWENTY ONE CAP INC | COM SHS CL A | 90138L109 |  | 3574 | 408 | SH |  | SOLE |  | 408 | 0 | 0 |
| TXNM ENERGY INC | COM | 69349H107 |  | 20196 | 343 | SH |  | SOLE |  | 343 | 0 | 0 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 4540 | 10 | SH |  | SOLE |  | 10 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 35462 | 434 | SH |  | SOLE |  | 434 | 0 | 0 |
| UGI CORP NEW | COM | 902681105 |  | 20849 | 557 | SH |  | SOLE |  | 557 | 0 | 0 |
| UNITI GROUP LLC | COM SHS | 912932100 |  | 1080 | 154 | SH |  | SOLE |  | 154 | 0 | 0 |
| UNITY SOFTWARE INC | COM | 91332U101 |  | 17182 | 389 | SH |  | SOLE |  | 389 | 0 | 0 |
| UPSTART HLDGS INC | COM | 91680M107 |  | 20684 | 473 | SH |  | SOLE |  | 473 | 0 | 0 |
| VANECK BITCOIN ETF | SH BEN INT | 92189K105 |  | 9496 | 384 | SH |  | SOLE |  | 384 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 885833 | 10328 | SH |  | SOLE |  | 10328 | 0 | 0 |
| VANECK ETF TRUST | IG FLOATING RATE | 92189F486 |  | 2701 | 106 | SH |  | SOLE |  | 106 | 0 | 0 |
| VANECK ETF TRUST | VANECK VIETNAM | 92189F817 |  | 381600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| VANECK ETF TRUST | JP MRGAN EM LOC | 92189H300 |  | 31036 | 1202 | SH |  | SOLE |  | 1202 | 0 | 0 |
| VANECK ETF TRUST | AA BB CLO ETF | 92189H656 |  | 352782 | 6963 | SH |  | SOLE |  | 6963 | 0 | 0 |
| VANECK ETF TRUST | CLO ETF | 92189H748 |  | 215676 | 4084 | SH |  | SOLE |  | 4084 | 0 | 0 |
| VANECK SOLANA TR | COM SHS BEN INT | 92200B100 |  | 2102464 | 130000 | SH |  | SOLE |  | 130000 | 0 | 0 |
| VANGUARD CALIF TAX FREE FDS | TAX EXEMPT BD FD | 922021605 |  | 301 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 552732 | 11439 | SH |  | SOLE |  | 11439 | 0 | 0 |
| VANGUARD MUN BD FDS | SHORT TAX EXEMPT | 922907696 |  | 1100804 | 14399 | SH |  | SOLE |  | 14399 | 0 | 0 |
| VANGUARD MUN BD FDS | CORE TAX EXEMPT | 922907712 |  | 2667319 | 35296 | SH |  | SOLE |  | 35296 | 0 | 0 |
| VANGUARD MUN BD FDS | INTERMEDIATE TRM | 922907738 |  | 1417871 | 14062 | SH |  | SOLE |  | 14062 | 0 | 0 |
| VANGUARD NY TAX FREE FDS | TAX EXEMPT BD | 92204H400 |  | 2439428 | 23631 | SH |  | SOLE |  | 23631 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 |  | 221276 | 4700 | SH |  | SOLE |  | 4700 | 0 | 0 |
| VARONIS SYS INC | COM | 922280102 |  | 3444 | 105 | SH |  | SOLE |  | 105 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 32577 | 421 | SH |  | SOLE |  | 421 | 0 | 0 |
| VERTEX INC | CL A | 92538J106 |  | 1438 | 72 | SH |  | SOLE |  | 72 | 0 | 0 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 1693 | 95 | SH |  | SOLE |  | 95 | 0 | 0 |
| VIAVI SOLUTIONS INC | NOTE  1.625% 3/1 | 925550AH8 |  | 2028000 | 1500000 | PRN |  | SOLE |  | 0 | 0 | 1500000 |
| VISHAY INTERTECHNOLOGY INC | COM | 928298108 |  | 5129 | 354 | SH |  | SOLE |  | 354 | 0 | 0 |
| VIZSLA SILVER CORP | COM NEW | 92859G608 |  | 3780 | 691 | SH |  | SOLE |  | 691 | 0 | 0 |
| VOYAGER TECHNOLOGIES INC | COM CL A | 92892B103 |  | 9410 | 360 | SH |  | SOLE |  | 360 | 0 | 0 |
| WAYFAIR INC | CL A | 94419L101 |  | 54422 | 542 | SH |  | SOLE |  | 542 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 35751 | 339 | SH |  | SOLE |  | 339 | 0 | 0 |
| WEIBO CORP | SPONSORED ADR | 948596101 |  | 3301 | 323 | SH |  | SOLE |  | 323 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 90206 | 486 | SH |  | SOLE |  | 486 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 209480 | 1216 | SH |  | SOLE |  | 1216 | 0 | 0 |
| WINNEBAGO INDS INC | COM | 974637100 |  | 2391 | 59 | SH |  | SOLE |  | 59 | 0 | 0 |
| WISDOMTREE INC | COM | 97717P104 |  | 6570 | 539 | SH |  | SOLE |  | 539 | 0 | 0 |
| WIX COM LTD | SHS | M98068105 |  | 9766 | 94 | SH |  | SOLE |  | 94 | 0 | 0 |
| WORKIVA INC | COM CL A | 98139A105 |  | 6900 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| WORLD KINECT CORPORATION | COM | 981475106 |  | 3632 | 155 | SH |  | SOLE |  | 155 | 0 | 0 |
| XEROX HOLDINGS CORP | COM NEW | 98421M106 |  | 685 | 289 | SH |  | SOLE |  | 289 | 0 | 0 |
| XOMETRY INC | CLASS A COM | 98423F109 |  | 4341 | 73 | SH |  | SOLE |  | 73 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 9940 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| ZSCALER INC | COM | 98980G102 |  | 6073 | 27 | SH |  | SOLE |  | 27 | 0 | 0 |

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