# EDGAR Filing Document

**Accession Number:** 0001595521
**File Stem:** 0001595521-26-000003
**Filing Date:** 2026-2
**Character Count:** 31450
**Document Hash:** be27cecfe6908970927a827412250b2b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001595521-26-000003.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001595521-26-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**EFFECTIVENESS DATE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aristides Capital LLC
- **CENTRAL INDEX KEY:** 0001595521

**ORGANIZATION NAME:**
- **EIN:** 262056777
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 21380073BP4RXI68KO65

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19976
- **FILM NUMBER:** 26625719

**BUSINESS ADDRESS:**
- **STREET 1:** 552 E MARKET ST
- **STREET 2:** STE 200
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40202
- **BUSINESS PHONE:** 502-694-8001

**MAIL ADDRESS:**
- **STREET 1:** 552 E MARKET ST
- **STREET 2:** STE 200
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40202

### 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:** Aristides Capital LLC<br>**Address:** 552 E MARKET ST<br>STE 200<br>LOUISVILLE, KY 40202

**Form 13F File Number:** 028-19976

**CRD Number (if applicable):** 000162368

**SEC File Number (if applicable):** 801-119110

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:** DANIEL NALL<br>**Title:** PRINCIPAL<br>**Phone:** 5026948001

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

Daniel Nall  Louisville, KY  02-12-2026<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:** 273

**Form 13F Information Table Value Total:** $565135720

      (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 |
| ALLIANCEBERNSTEIN HLDG L P | UNIT LTD PARTN | 01881G106 |  | 1645020 | 42750 | SH |  | SOLE | NONE | 42750 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 2438481 | 17967 | SH |  | SOLE | NONE | 17967 | 0 | 0 |
| ARBOR REALTY TRUST INC | Put | 038923958 |  | 226592 | 29200 | SH | Put | SOLE | NONE | 29200 | 0 | 0 |
| AMERICAN BITCOIN CORP. | COM CL A | 02462A104 |  | 199920 | 117600 | SH |  | SOLE | NONE | 117600 | 0 | 0 |
| OWENS  MINOR INC NEW | COM | 690732102 |  | 187040 | 66800 | SH |  | SOLE | NONE | 66800 | 0 | 0 |
| ACADIA HEALTHCARE COMPANY IN | COM | 00404A109 |  | 195822 | 13800 | SH |  | SOLE | NONE | 13800 | 0 | 0 |
| ACI WORLDWIDE INC | COM | 004498101 |  | 2146430 | 44895 | SH |  | SOLE | NONE | 44895 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 7050656 | 26279 | SH |  | SOLE | NONE | 26279 | 0 | 0 |
| ACCENTURE PLC IRELAND | Call | G1151C901 |  | 4829400 | 18000 | SH | Call | SOLE | NONE | 18000 | 0 | 0 |
| ALPHA COGNITION INC | COM NEW | 02074J501 |  | 1400477 | 215458 | SH |  | SOLE | NONE | 215458 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 |  | 195108 | 24177 | SH |  | SOLE | NONE | 24177 | 0 | 0 |
| FEDERAL AGRIC MTG CORP | CL A | 313148108 |  | 1900620 | 14131 | SH |  | SOLE | NONE | 14131 | 0 | 0 |
| AIRO GROUP HLDGS INC | COM | 009422106 |  | 197138 | 24100 | SH |  | SOLE | NONE | 24100 | 0 | 0 |
| AIRSCULPT TECHNOLOGIES INC | COM | 009496100 |  | 139525 | 70467 | SH |  | SOLE | NONE | 70467 | 0 | 0 |
| AIRSHIP AI HLDGS INC | COM | 008940108 |  | 168013 | 58136 | SH |  | SOLE | NONE | 58136 | 0 | 0 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 3694689 | 42346 | SH |  | SOLE | NONE | 42346 | 0 | 0 |
| ALIGHT INC | COM CL A | 01626W101 |  | 186420 | 95600 | SH |  | SOLE | NONE | 95600 | 0 | 0 |
| ALT5 SIGMA CORP | COM | 47089W104 |  | 155320 | 141200 | SH |  | SOLE | NONE | 141200 | 0 | 0 |
| APPLOVIN CORP | Put | 03831W958 |  | 8692278 | 12900 | SH | Put | SOLE | NONE | 12900 | 0 | 0 |
| ARBE ROBOTICS LTD | ORDINARY SHARES | M1R95N100 |  | 180068 | 152600 | SH |  | SOLE | NONE | 152600 | 0 | 0 |
| ARCTURUS THERAPEUTICS HLDGS | COM | 03969T109 |  | 161115 | 26283 | SH |  | SOLE | NONE | 26283 | 0 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 1419475 | 48880 | SH |  | SOLE | NONE | 48880 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 2139720 | 2000 | SH |  | SOLE | NONE | 2000 | 0 | 0 |
| ASPEN AEROGELS INC | COM | 04523Y105 |  | 176592 | 62400 | SH |  | SOLE | NONE | 62400 | 0 | 0 |
| ADTALEM GLOBAL ED INC | COM | 00737L103 |  | 213355 | 2062 | SH |  | SOLE | NONE | 2062 | 0 | 0 |
| ATMUS FILTRATION TECHNOLOGIE | COM | 04956D107 |  | 297185 | 5725 | SH |  | SOLE | NONE | 5725 | 0 | 0 |
| ATOMERA INC | COM | 04965B100 |  | 74035 | 33500 | SH |  | SOLE | NONE | 33500 | 0 | 0 |
| AVIAT NETWORKS INC | COM NEW | 05366Y201 |  | 2237952 | 104675 | SH |  | SOLE | NONE | 104675 | 0 | 0 |
| AVAX ONE TECHNOLOGY LTD | COM SHS | 05353F108 |  | 30804 | 20400 | SH |  | SOLE | NONE | 20400 | 0 | 0 |
| ANAVEX LIFE SCIENCES CORP | Put | 032797950 |  | 391600 | 110000 | SH | Put | SOLE | NONE | 110000 | 0 | 0 |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 |  | 207344 | 1085 | SH |  | SOLE | NONE | 1085 | 0 | 0 |
| AWARE INC MASS | COM | 05453N100 |  | 129979 | 70259 | SH |  | SOLE | NONE | 70259 | 0 | 0 |
| CONCRETE PUMPING HLDGS INC | COM | 206704108 |  | 666920 | 99392 | SH |  | SOLE | NONE | 99392 | 0 | 0 |
| BARRETT BUSINESS SVCS INC | COM | 068463108 |  | 203428 | 5618 | SH |  | SOLE | NONE | 5618 | 0 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 208390 | 10378 | SH |  | SOLE | NONE | 10378 | 0 | 0 |
| BRINKS CO | COM | 109696104 |  | 238246 | 2041 | SH |  | SOLE | NONE | 2041 | 0 | 0 |
| BROWN FORMAN CORP | CL A | 115637100 |  | 920850 | 35000 | SH |  | SOLE | NONE | 35000 | 0 | 0 |
| BAUSCH HEALTH COS INC | COM | 071734107 |  | 199041 | 28639 | SH |  | SOLE | NONE | 28639 | 0 | 0 |
| BAKKT HOLDINGS INC | COM CL A NEW | 05759B305 |  | 176704 | 17600 | SH |  | SOLE | NONE | 17600 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 3448833 | 644 | SH |  | SOLE | NONE | 644 | 0 | 0 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 |  | 334685 | 4487 | SH |  | SOLE | NONE | 4487 | 0 | 0 |
| BANK UTICA/NY | COM | 065437105 |  | 1893160 | 3572 | SH |  | SOLE | NONE | 3572 | 0 | 0 |
| BANK UTICA N Y | COM | 065437204 |  | 7178028 | 13884 | SH |  | SOLE | NONE | 13884 | 0 | 0 |
| BLACKBAUD INC | COM | 09227Q100 |  | 1866420 | 29476 | SH |  | SOLE | NONE | 29476 | 0 | 0 |
| BUMBLE INC | COM CL A | 12047B105 |  | 214200 | 60000 | SH |  | SOLE | NONE | 60000 | 0 | 0 |
| CEA INDUSTRIES INC | COM | 86887P309 |  | 187464 | 29200 | SH |  | SOLE | NONE | 29200 | 0 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 2528417 | 26559 | SH |  | SOLE | NONE | 26559 | 0 | 0 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 1394059 | 14977 | SH |  | SOLE | NONE | 14977 | 0 | 0 |
| BRC INC | COM CL A | 05601U105 |  | 46487 | 41880 | SH |  | SOLE | NONE | 41880 | 0 | 0 |
| BLACK STONE MINERALS L P | COM UNIT | 09225M101 |  | 472008 | 35516 | SH |  | SOLE | NONE | 35516 | 0 | 0 |
| BITCOIN DEPOT INC | COM | 09174P105 |  | 137385 | 106500 | SH |  | SOLE | NONE | 106500 | 0 | 0 |
| BROADWIND INC | COM NEW | 11161T207 |  | 362616 | 128133 | SH |  | SOLE | NONE | 128133 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 1612597 | 9330 | SH |  | SOLE | NONE | 9330 | 0 | 0 |
| BOYD GAMING CORP | COM | 103304101 |  | 204491 | 2399 | SH |  | SOLE | NONE | 2399 | 0 | 0 |
| BEYOND MEAT INC | COM | 08862E109 |  | 152684 | 186200 | SH |  | SOLE | NONE | 186200 | 0 | 0 |
| BLAIZE HLDGS INC | COM | 092915107 |  | 85517 | 43855 | SH |  | SOLE | NONE | 43855 | 0 | 0 |
| CARGURUS INC | COM CL A | 141788109 |  | 272093 | 7095 | SH |  | SOLE | NONE | 7095 | 0 | 0 |
| CATO CORP NEW | CL A | 149205106 |  | 120930 | 39136 | SH |  | SOLE | NONE | 39136 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 2197407 | 24018 | SH |  | SOLE | NONE | 24018 | 0 | 0 |
| CELCUITY INC | COM | 15102K100 |  | 1526321 | 15303 | SH |  | SOLE | NONE | 15303 | 0 | 0 |
| CRA INTL INC | COM | 12618T105 |  | 213941 | 1066 | SH |  | SOLE | NONE | 1066 | 0 | 0 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 |  | 7357522 | 164561 | SH |  | SOLE | NONE | 164561 | 0 | 0 |
| CARTERS INC | COM | 146229109 |  | 2380881 | 73416 | SH |  | SOLE | NONE | 73416 | 0 | 0 |
| CERAGON NETWORKS LTD | ORD | M22013102 |  | 296373 | 141130 | SH |  | SOLE | NONE | 141130 | 0 | 0 |
| CONSTELLIUM SE | CL A SHS | F21107101 |  | 295172 | 15659 | SH |  | SOLE | NONE | 15659 | 0 | 0 |
| CTO RLTY GROWTH INC NEW | Put | 22948Q951 |  | 957320 | 52000 | SH | Put | SOLE | NONE | 52000 | 0 | 0 |
| CAVCO INDS INC DEL | COM | 149568107 |  | 532847 | 902 | SH |  | SOLE | NONE | 902 | 0 | 0 |
| CARVANA CO | Put | 146869952 |  | 14222074 | 33700 | SH | Put | SOLE | NONE | 33700 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A359 |  | 1620407 | 18166 | SH |  | SOLE | NONE | 18166 | 0 | 0 |
| CORECIVIC INC | COM | 21871N101 |  | 206598 | 10811 | SH |  | SOLE | NONE | 10811 | 0 | 0 |
| CYCURION INC | *W EXP 02/13/203 | 95758L115 |  | 3400 | 100000 | SH |  | SOLE | NONE | 100000 | 0 | 0 |
| DANAOS CORPORATION | SHS | Y1968P121 |  | 242043 | 2570 | SH |  | SOLE | NONE | 2570 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 8698041 | 125332 | SH |  | SOLE | NONE | 125332 | 0 | 0 |
| DONALDSON INC | COM | 257651109 |  | 292135 | 3295 | SH |  | SOLE | NONE | 3295 | 0 | 0 |
| DOUBLEDOWN INTERACTIVE CO LT | ADS | 25862B109 |  | 295094 | 34194 | SH |  | SOLE | NONE | 34194 | 0 | 0 |
| DEFI TECHNOLOGIES INC | COM | 244916102 |  | 143223 | 189800 | SH |  | SOLE | NONE | 189800 | 0 | 0 |
| DEFI DEVELOPMENT CORP | COM | 47100L301 |  | 187355 | 37100 | SH |  | SOLE | NONE | 37100 | 0 | 0 |
| DORMAN PRODS INC | COM | 258278100 |  | 270279 | 2194 | SH |  | SOLE | NONE | 2194 | 0 | 0 |
| AMDOCS LTD | SHS | G02602103 |  | 212546 | 2640 | SH |  | SOLE | NONE | 2640 | 0 | 0 |
| ENERFLEX LTD | COM | 29269R105 |  | 222115 | 14395 | SH |  | SOLE | NONE | 14395 | 0 | 0 |
| ELECTRA BATTERY MATERIALS CO | COM | 28474P706 |  | 115520 | 144400 | SH |  | SOLE | NONE | 144400 | 0 | 0 |
| ELECTROMED INC | COM | 285409108 |  | 795034 | 27302 | SH |  | SOLE | NONE | 27302 | 0 | 0 |
| EMPERY DIGITAL INC | COM NEW | 92864V608 |  | 204512 | 44800 | SH |  | SOLE | NONE | 44800 | 0 | 0 |
| ENERPAC TOOL GROUP CORP | CL A COM | 292765104 |  | 203590 | 5324 | SH |  | SOLE | NONE | 5324 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 1988560 | 37100 | SH |  | SOLE | NONE | 37100 | 0 | 0 |
| ENERGY RECOVERY INC | COM | 29270J100 |  | 182331 | 13516 | SH |  | SOLE | NONE | 13516 | 0 | 0 |
| ESGL HLDGS LTD | *W EXP 10/19/202 | G3R95P116 |  | 4200 | 42000 | SH |  | SOLE | NONE | 42000 | 0 | 0 |
| GRAYSCALE ETHEREUM TRUST ETF | SHS | 389638107 |  | 1096284 | 44985 | SH |  | SOLE | NONE | 44985 | 0 | 0 |
| ETHZILLA CORPORATION | COM SHS | 68236V401 |  | 128380 | 26200 | SH |  | SOLE | NONE | 26200 | 0 | 0 |
| ETON PHARMACEUTICALS INC | COM | 29772L108 |  | 2729883 | 161436 | SH |  | SOLE | NONE | 161436 | 0 | 0 |
| EVOLENT HEALTH INC | CL A | 30050B101 |  | 195200 | 48800 | SH |  | SOLE | NONE | 48800 | 0 | 0 |
| EVERTEC INC | COM | 30040P103 |  | 3904343 | 134216 | SH |  | SOLE | NONE | 134216 | 0 | 0 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 208805 | 4920 | SH |  | SOLE | NONE | 4920 | 0 | 0 |
| EXODUS MOVEMENT INC | COM CL A | 30209R106 |  | 164169 | 11100 | SH |  | SOLE | NONE | 11100 | 0 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 1203084 | 5821 | SH |  | SOLE | NONE | 5821 | 0 | 0 |
| ISHARES TR | FALN ANGLS USD | 46435G474 |  | 560960 | 20548 | SH |  | SOLE | NONE | 20548 | 0 | 0 |
| FTI CONSULTING INC | COM | 302941109 |  | 203117 | 1189 | SH |  | SOLE | NONE | 1189 | 0 | 0 |
| FREQUENCY ELECTRS INC | COM | 358010106 |  | 280076 | 5202 | SH |  | SOLE | NONE | 5202 | 0 | 0 |
| FRANKLIN ELEC INC | COM | 353514102 |  | 204912 | 2145 | SH |  | SOLE | NONE | 2145 | 0 | 0 |
| FARADAY FUTURE INTLGT ELEC I COM N | EW CL A | 307359885 |  | 99581 | 97628 | SH |  | SOLE | NONE | 97628 | 0 | 0 |
| FG NEXUS INC. | COM NEW | 30329Y304 |  | 181775 | 66100 | SH |  | SOLE | NONE | 66100 | 0 | 0 |
| FLUENCE ENERGY INC | NOTE   2.250% 6/1 | 34379VAB9 |  | 1222440 | 1000000 | PRN |  | SOLE | NONE | 1000000 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 1012324 | 15591 | SH |  | SOLE | NONE | 15591 | 0 | 0 |
| FS BANCORP INC | COM | 30263Y104 |  | 1360298 | 33041 | SH |  | SOLE | NONE | 33041 | 0 | 0 |
| FRONTDOOR INC | COM | 35905A109 |  | 211838 | 3672 | SH |  | SOLE | NONE | 3672 | 0 | 0 |
| FATHOM HOLDINGS INC | COM | 31189V109 |  | 163004 | 161390 | SH |  | SOLE | NONE | 161390 | 0 | 0 |
| FLOTEK INDS INC DEL | COM NEW | 343389409 |  | 540850 | 31390 | SH |  | SOLE | NONE | 31390 | 0 | 0 |
| SIX FLAGS ENTERTAINMENT CORP | COM | 83001C108 |  | 207090 | 13500 | SH |  | SOLE | NONE | 13500 | 0 | 0 |
| FORWARD INDS INC N Y | COM NEW | 349862409 |  | 180453 | 27300 | SH |  | SOLE | NONE | 27300 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 611180 | 6838 | SH |  | SOLE | NONE | 6838 | 0 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 3473321 | 74248 | SH |  | SOLE | NONE | 74248 | 0 | 0 |
| GAMBLING COM GROUP LIMITED | ORDINARY SHARES | G3R239101 |  | 196014 | 35900 | SH |  | SOLE | NONE | 35900 | 0 | 0 |
| GREIF INC | CL B | 397624206 |  | 1485958 | 19895 | SH |  | SOLE | NONE | 19895 | 0 | 0 |
| GEMINI SPACE STA INC | CL A COM | 36866J105 |  | 163680 | 16500 | SH |  | SOLE | NONE | 16500 | 0 | 0 |
| GRIFFON CORP | COM | 398433102 |  | 203569 | 2764 | SH |  | SOLE | NONE | 2764 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 386898 | 4720 | SH |  | SOLE | NONE | 4720 | 0 | 0 |
| GENASYS INC | COM | 36872P103 |  | 241859 | 112755 | SH |  | SOLE | NONE | 112755 | 0 | 0 |
| GOGO INC | COM | 38046C109 |  | 181740 | 39000 | SH |  | SOLE | NONE | 39000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 16632820 | 53140 | SH |  | SOLE | NONE | 53140 | 0 | 0 |
| GOLD ROYALTY CORP | COMMON SHARES | 38071H106 |  | 121604 | 30100 | SH |  | SOLE | NONE | 30100 | 0 | 0 |
| GOLD ROYALTY CORP | *W EXP 05/31/202 | 38071H122 |  | 225140 | 113707 | SH |  | SOLE | NONE | 113707 | 0 | 0 |
| HAFNIA LTD | SHS | Y2990R101 |  | 178811 | 33548 | SH |  | SOLE | NONE | 33548 | 0 | 0 |
| HAIN CELESTIAL GROUP INC | COM | 405217100 |  | 131824 | 123200 | SH |  | SOLE | NONE | 123200 | 0 | 0 |
| HACKETT GROUP INC | COM | 404609109 |  | 3383682 | 172373 | SH |  | SOLE | NONE | 172373 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 3193248 | 9280 | SH |  | SOLE | NONE | 9280 | 0 | 0 |
| HUDSON TECHNOLOGIES INC | COM | 444144109 |  | 183032 | 26720 | SH |  | SOLE | NONE | 26720 | 0 | 0 |
| HEICO CORP NEW | CL A | 422806208 |  | 482141 | 1910 | SH |  | SOLE | NONE | 1910 | 0 | 0 |
| HIGHLAND OPPS  INCOME FD | HIGHLAND INCOME | 43010E404 |  | 798306 | 133496 | SH |  | SOLE | NONE | 133496 | 0 | 0 |
| HARMONIC INC | COM | 413160102 |  | 202349 | 20460 | SH |  | SOLE | NONE | 20460 | 0 | 0 |
| ROBINHOOD MKTS INC | Put | 770700952 |  | 13572000 | 120000 | SH | Put | SOLE | NONE | 120000 | 0 | 0 |
| HIGHPEAK ENERGY INC | COM | 43114Q105 |  | 194340 | 41000 | SH |  | SOLE | NONE | 41000 | 0 | 0 |
| HESAI GROUP | SPONSORED ADS | 428050108 |  | 2845338 | 127024 | SH |  | SOLE | NONE | 127024 | 0 | 0 |
| SOLANA CO | COM CL A NEW | 42328V876 |  | 136986 | 47400 | SH |  | SOLE | NONE | 47400 | 0 | 0 |
| HUMACYTE INC | COM | 44486Q103 |  | 156465 | 162900 | SH |  | SOLE | NONE | 162900 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 15923400 | 320713 | SH |  | SOLE | NONE | 320713 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | Call | 46438F901 |  | 42103200 | 848000 | SH | Call | SOLE | NONE | 848000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | Put | 46438F951 |  | 30048180 | 605200 | SH | Put | SOLE | NONE | 605200 | 0 | 0 |
| IBOTTA INC | CLASS A COM SHS | 451051106 |  | 220481 | 9700 | SH |  | SOLE | NONE | 9700 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 1619600 | 10000 | SH |  | SOLE | NONE | 10000 | 0 | 0 |
| IDT CORP | CL B NEW | 448947507 |  | 204225 | 3988 | SH |  | SOLE | NONE | 3988 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 7537690 | 62720 | SH |  | SOLE | NONE | 62720 | 0 | 0 |
| INFUSYSTEM HLDGS INC | COM | 45685K102 |  | 109622 | 12221 | SH |  | SOLE | NONE | 12221 | 0 | 0 |
| IONQ INC | Put | 46222L958 |  | 19047315 | 424500 | SH | Put | SOLE | NONE | 424500 | 0 | 0 |
| IRADIMED CORP | COM | 46266A109 |  | 2697964 | 27734 | SH |  | SOLE | NONE | 27734 | 0 | 0 |
| INVESTORS TITLE CO NC | COM | 461804106 |  | 4163995 | 16680 | SH |  | SOLE | NONE | 16680 | 0 | 0 |
| ITURAN LOCATION AND CONTROL | SHS | M6158M104 |  | 12189249 | 283405 | SH |  | SOLE | NONE | 283405 | 0 | 0 |
| JANUX THERAPEUTICS INC | COM | 47103J105 |  | 180780 | 13100 | SH |  | SOLE | NONE | 13100 | 0 | 0 |
| JELD-WEN HLDG INC | COM | 47580P103 |  | 178350 | 72500 | SH |  | SOLE | NONE | 72500 | 0 | 0 |
| JOHNSON OUTDOORS INC | CL A | 479167108 |  | 4797020 | 113004 | SH |  | SOLE | NONE | 113004 | 0 | 0 |
| KINDERCARE LEARNING COMPANIE | COM | 49456W105 |  | 188784 | 43700 | SH |  | SOLE | NONE | 43700 | 0 | 0 |
| KAMADA LTD | SHS | M6240T109 |  | 233086 | 33015 | SH |  | SOLE | NONE | 33015 | 0 | 0 |
| KOPIN CORP | COM | 500600101 |  | 126463 | 54044 | SH |  | SOLE | NONE | 54044 | 0 | 0 |
| KOSMOS ENERGY LTD | COM | 500688106 |  | 178939 | 197200 | SH |  | SOLE | NONE | 197200 | 0 | 0 |
| KULR TECHNOLOGY GROUP INC | COM | 50125G307 |  | 160432 | 54200 | SH |  | SOLE | NONE | 54200 | 0 | 0 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 774666 | 62574 | SH |  | SOLE | NONE | 62574 | 0 | 0 |
| LITHIA MTRS INC | COM | 536797103 |  | 899617 | 2707 | SH |  | SOLE | NONE | 2707 | 0 | 0 |
| LAUREATE EDUCATION INC | COMMON STOCK | 518613203 |  | 321986 | 9563 | SH |  | SOLE | NONE | 9563 | 0 | 0 |
| LENZ THERAPEUTICS INC | COM | 52635N103 |  | 168000 | 10500 | SH |  | SOLE | NONE | 10500 | 0 | 0 |
| LIFEMD INC | COM | 53216B104 |  | 202895 | 59500 | SH |  | SOLE | NONE | 59500 | 0 | 0 |
| LIFEVANTAGE CORP | COM NEW | 53222K205 |  | 75768 | 12300 | SH |  | SOLE | NONE | 12300 | 0 | 0 |
| LINDBLAD EXPEDITIONS HLDGS I | COM | 535219109 |  | 377516 | 26180 | SH |  | SOLE | NONE | 26180 | 0 | 0 |
| LIMONEIRA CO | Call | 532746904 |  | 170438 | 13500 | SH | Call | SOLE | NONE | 13500 | 0 | 0 |
| GRAND CANYON ED INC | COM | 38526M106 |  | 208553 | 1254 | SH |  | SOLE | NONE | 1254 | 0 | 0 |
| LSI INDS INC OHIO | COM | 50216C108 |  | 962093 | 52516 | SH |  | SOLE | NONE | 52516 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 833485 | 1460 | SH |  | SOLE | NONE | 1460 | 0 | 0 |
| MAMAS CREATIONS INC | COM | 56146T103 |  | 1186648 | 87965 | SH |  | SOLE | NONE | 87965 | 0 | 0 |
| MAMAS CREATIONS INC | COM | 56146T103 |  | 1490645 | 110500 | SH |  | SOLE | NONE | 110500 | 0 | 0 |
| MONARCH CASINO  RESORT INC | COM | 609027107 |  | 303752 | 3174 | SH |  | SOLE | NONE | 3174 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 1091729 | 542 | SH |  | SOLE | NONE | 542 | 0 | 0 |
| MIDDLEBY CORP | COM | 596278101 |  | 249171 | 1676 | SH |  | SOLE | NONE | 1676 | 0 | 0 |
| MITEK SYS INC | COM NEW | 606710200 |  | 584829 | 55434 | SH |  | SOLE | NONE | 55434 | 0 | 0 |
| MICROALGO INC | SHS CL A | G6077Y400 |  | 45084 | 10200 | SH |  | SOLE | NONE | 10200 | 0 | 0 |
| MNTN INC | CL A | 55318A108 |  | 191040 | 16000 | SH |  | SOLE | NONE | 16000 | 0 | 0 |
| MOBIX LABS INC | *W EXP 12/21/202 | 60743G118 |  | 6514 | 72377 | SH |  | SOLE | NONE | 72377 | 0 | 0 |
| MODINE MFG CO | COM | 607828100 |  | 908269 | 6803 | SH |  | SOLE | NONE | 6803 | 0 | 0 |
| MOOG INC | CL A | 615394202 |  | 208479 | 856 | SH |  | SOLE | NONE | 856 | 0 | 0 |
| M-TRON INDS INC | COM | 55380K109 |  | 2876754 | 54054 | SH |  | SOLE | NONE | 54054 | 0 | 0 |
| MULTISENSOR AI HOLDINGS INC | *W EXP 12/19/202 | 456948116 |  | 1065 | 37500 | SH |  | SOLE | NONE | 37500 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 8593927 | 17770 | SH |  | SOLE | NONE | 17770 | 0 | 0 |
| MADISON SQUARE GARDEN ENTMT | COM CL A | 558256103 |  | 210979 | 3915 | SH |  | SOLE | NONE | 3915 | 0 | 0 |
| STRATEGY INC | Put | 594972958 |  | 3190950 | 21000 | SH | Put | SOLE | NONE | 21000 | 0 | 0 |
| NATURES SUNSHINE PRODS INC | COM | 639027101 |  | 882773 | 40907 | SH |  | SOLE | NONE | 40907 | 0 | 0 |
| NEXTDECADE CORP | Call | 65342K905 |  | 133331 | 25300 | SH | Call | SOLE | NONE | 25300 | 0 | 0 |
| NEW FORTRESS ENERGY INC | COM CL A | 644393100 |  | 181944 | 159600 | SH |  | SOLE | NONE | 159600 | 0 | 0 |
| NL INDS INC | COM NEW | 629156407 |  | 2281067 | 417014 | SH |  | SOLE | NONE | 417014 | 0 | 0 |
| NEWSMAX INC | COM SHS CLASS B | 65250K105 |  | 161557 | 20900 | SH |  | SOLE | NONE | 20900 | 0 | 0 |
| NAVIOS MARITIME PARTNERS L P COM U | NIT LPI | Y62267409 |  | 283384 | 5405 | SH |  | SOLE | NONE | 5405 | 0 | 0 |
| NEXTNAV INC | Put | 65345N956 |  | 1399424 | 84100 | SH | Put | SOLE | NONE | 84100 | 0 | 0 |
| NANO X IMAGING LTD | ORD SHS | M70700105 |  | 30456 | 10877 | SH |  | SOLE | NONE | 10877 | 0 | 0 |
| NATIONAL PRESTO INDS INC | COM | 637215104 |  | 323269 | 3028 | SH |  | SOLE | NONE | 3028 | 0 | 0 |
| NPK INTERNATIONAL INC | COM SHS | 651718504 |  | 187788 | 15754 | SH |  | SOLE | NONE | 15754 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 1502311 | 206 | SH |  | SOLE | NONE | 206 | 0 | 0 |
| ENVIRI CORP | COM | 415864107 |  | 358400 | 20000 | SH |  | SOLE | NONE | 20000 | 0 | 0 |
| NWPX INFRASTRUCTURE INC | COM | 667746101 |  | 210529 | 3369 | SH |  | SOLE | NONE | 3369 | 0 | 0 |
| ORION S.A. | COM | L72967109 |  | 201696 | 38200 | SH |  | SOLE | NONE | 38200 | 0 | 0 |
| OKLO INC | Put | 02156V959 |  | 459264 | 6400 | SH | Put | SOLE | NONE | 6400 | 0 | 0 |
| OUTSET MED INC | COM NEW | 690145206 |  | 176967 | 47700 | SH |  | SOLE | NONE | 47700 | 0 | 0 |
| EIGHTCO HOLDINGS INC | COM | 22890A302 |  | 135632 | 78400 | SH |  | SOLE | NONE | 78400 | 0 | 0 |
| OPEN TEXT CORP | COM | 683715106 |  | 229070 | 7031 | SH |  | SOLE | NONE | 7031 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 525002 | 4680 | SH |  | SOLE | NONE | 4680 | 0 | 0 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 |  | 946764 | 23800 | SH |  | SOLE | NONE | 23800 | 0 | 0 |
| PURECYCLE TECHNOLOGIES INC | Put | 74623V953 |  | 5927959 | 690100 | SH | Put | SOLE | NONE | 690100 | 0 | 0 |
| PRECISION DRILLING CORP | COM NEW | 74022D407 |  | 225200 | 3133 | SH |  | SOLE | NONE | 3133 | 0 | 0 |
| PALLADYNE AI CORP | COM NEW | 80359A205 |  | 99437 | 23342 | SH |  | SOLE | NONE | 23342 | 0 | 0 |
| PHINIA INC | COMMON STOCK | 71880K101 |  | 229383 | 3659 | SH |  | SOLE | NONE | 3659 | 0 | 0 |
| PICARD MEDICAL INC | COM SHS | 71953R108 |  | 117796 | 67312 | SH |  | SOLE | NONE | 67312 | 0 | 0 |
| PERRIGO CO PLC | SHS | G97822103 |  | 211584 | 15200 | SH |  | SOLE | NONE | 15200 | 0 | 0 |
| PRAIRIE OPER CO | COM | 739650109 |  | 135031 | 79900 | SH |  | SOLE | NONE | 79900 | 0 | 0 |
| PORTILLOS INC | COM CL A | 73642K106 |  | 197036 | 43400 | SH |  | SOLE | NONE | 43400 | 0 | 0 |
| D-WAVE QUANTUM INC | Put | 26740W959 |  | 34857950 | 1333000 | SH | Put | SOLE | NONE | 1333000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 10043969 | 16350 | SH |  | SOLE | NONE | 16350 | 0 | 0 |
| QUANTUM COMPUTING INC | Put | 74766W958 |  | 4104000 | 400000 | SH | Put | SOLE | NONE | 400000 | 0 | 0 |
| READY CAPITAL CORP | COM | 75574U101 |  | 189442 | 86900 | SH |  | SOLE | NONE | 86900 | 0 | 0 |
| AVITA MEDICAL INC | COM | 05380C102 |  | 47955 | 13900 | SH |  | SOLE | NONE | 13900 | 0 | 0 |
| ROCKY BRANDS INC | COM | 774515100 |  | 906942 | 30922 | SH |  | SOLE | NONE | 30922 | 0 | 0 |
| RICHARDSON ELECTRS LTD | COM | 763165107 |  | 227827 | 20940 | SH |  | SOLE | NONE | 20940 | 0 | 0 |
| REV GROUP INC | COM | 749527107 |  | 225058 | 3701 | SH |  | SOLE | NONE | 3701 | 0 | 0 |
| REX AMERICAN RES CORP | COM | 761624105 |  | 271262 | 8393 | SH |  | SOLE | NONE | 8393 | 0 | 0 |
| RIGETTI COMPUTING INC | Call | 76655K903 |  | 1749850 | 79000 | SH | Call | SOLE | NONE | 79000 | 0 | 0 |
| RIGETTI COMPUTING INC | Put | 76655K953 |  | 26854660 | 1212400 | SH | Put | SOLE | NONE | 1212400 | 0 | 0 |
| RANGER ENERGY SVCS INC | COM CL A | 75282U104 |  | 150355 | 10755 | SH |  | SOLE | NONE | 10755 | 0 | 0 |
| RENEW ENERGY GLOBAL PLC | CL A SHS | G7500M104 |  | 779813 | 138020 | SH |  | SOLE | NONE | 138020 | 0 | 0 |
| SAFE BULKERS INC | COM | Y7388L103 |  | 161181 | 33440 | SH |  | SOLE | NONE | 33440 | 0 | 0 |
| SOLARIS ENERGY INFRAS INC | Put | 83418M953 |  | 6684038 | 145400 | SH | Put | SOLE | NONE | 145400 | 0 | 0 |
| SENSEONICS HLDGS INC | COM | 81727U303 |  | 138552 | 25100 | SH |  | SOLE | NONE | 25100 | 0 | 0 |
| SWEETGREEN INC | COM CL A | 87043Q108 |  | 184548 | 27300 | SH |  | SOLE | NONE | 27300 | 0 | 0 |
| SHF HOLDINGS INC | *W EXP 09/28/202 | 824430110 |  | 948 | 25000 | SH |  | SOLE | NONE | 25000 | 0 | 0 |
| SPROTT INC | COM NEW | 852066208 |  | 614252 | 6273 | SH |  | SOLE | NONE | 6273 | 0 | 0 |
| SITE CTRS CORP | COM | 82981J851 |  | 203514 | 31700 | SH |  | SOLE | NONE | 31700 | 0 | 0 |
| BRERA HOLDINGS PLC | COM CL B NEW | G13311116 |  | 166430 | 89000 | SH |  | SOLE | NONE | 89000 | 0 | 0 |
| SELECTQUOTE INC | COM | 816307300 |  | 108147 | 76700 | SH |  | SOLE | NONE | 76700 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 4741312 | 73600 | SH |  | SOLE | NONE | 73600 | 0 | 0 |
| ISHARES SILVER TR | Put | 46428Q959 |  | 11917700 | 185000 | SH | Put | SOLE | NONE | 185000 | 0 | 0 |
| SEMLER SCIENTIFIC INC | COM | 81684M104 |  | 175835 | 11500 | SH |  | SOLE | NONE | 11500 | 0 | 0 |
| SABLE OFFSHORE CORP | COM SHS | 78574H104 |  | 120868 | 13400 | SH |  | SOLE | NONE | 13400 | 0 | 0 |
| SABLE OFFSHORE CORP | Put | 78574H954 |  | 218284 | 24200 | SH | Put | SOLE | NONE | 24200 | 0 | 0 |
| SUBURBAN PROPANE PARTNERS L | UNIT LTD PARTN | 864482104 |  | 392566 | 21174 | SH |  | SOLE | NONE | 21174 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 24865531 | 36464 | SH |  | SOLE | NONE | 36464 | 0 | 0 |
| SURF AIR MOBILITY INC | COM NEW | 868927203 |  | 195164 | 100600 | SH |  | SOLE | NONE | 100600 | 0 | 0 |
| SIMPSON MFG INC | COM | 829073105 |  | 1185351 | 7341 | SH |  | SOLE | NONE | 7341 | 0 | 0 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 1903658 | 21776 | SH |  | SOLE | NONE | 21776 | 0 | 0 |
| NEURONETICS INC | COM | 64131A105 |  | 188232 | 136400 | SH |  | SOLE | NONE | 136400 | 0 | 0 |
| STRATEGIC ED INC | COM | 86272C103 |  | 213653 | 2664 | SH |  | SOLE | NONE | 2664 | 0 | 0 |
| SHARPS TECHNOLOGY INC | COM | 82003F309 |  | 24563 | 12100 | SH |  | SOLE | NONE | 12100 | 0 | 0 |
| SUI GROUP HOLDINGS LIMITED | COM NEW | 59982U200 |  | 169171 | 101300 | SH |  | SOLE | NONE | 101300 | 0 | 0 |
| SUPERX AI TECHNOLOGY LTD | USD ORD SHS NEW | G5294K110 |  | 166929 | 10646 | SH |  | SOLE | NONE | 10646 | 0 | 0 |
| SYMBOTIC INC | Put | 87151X951 |  | 1481550 | 24900 | SH | Put | SOLE | NONE | 24900 | 0 | 0 |
| TABOOLA.COM LTD | ORD SHS | M8744T106 |  | 353633 | 76710 | SH |  | SOLE | NONE | 76710 | 0 | 0 |
| THARIMMUNE INC | COM | 432705309 |  | 253005 | 83500 | SH |  | SOLE | NONE | 83500 | 0 | 0 |
| THERMON GROUP HLDGS INC | COM | 88362T103 |  | 204417 | 5501 | SH |  | SOLE | NONE | 5501 | 0 | 0 |
| THRYV HLDGS INC | COM NEW | 886029206 |  | 209935 | 34700 | SH |  | SOLE | NONE | 34700 | 0 | 0 |
| TILLYS INC | CL A | 886885102 |  | 319142 | 160373 | SH |  | SOLE | NONE | 160373 | 0 | 0 |
| TREACE MED CONCEPTS INC | COM | 89455T109 |  | 172725 | 70500 | SH |  | SOLE | NONE | 70500 | 0 | 0 |
| TENNANT CO | COM | 880345103 |  | 200980 | 2727 | SH |  | SOLE | NONE | 2727 | 0 | 0 |
| TON STRATEGY CO | COM | 92337U302 |  | 93331 | 46900 | SH |  | SOLE | NONE | 46900 | 0 | 0 |
| TURNING PT BRANDS INC | COM | 90041L105 |  | 9323484 | 86010 | SH |  | SOLE | NONE | 86010 | 0 | 0 |
| TRACTOR SUPPLY CO | Put | 892356956 |  | 1250250 | 25000 | SH | Put | SOLE | NONE | 25000 | 0 | 0 |
| TESLA INC | Put | 88160R951 |  | 26983200 | 60000 | SH | Put | SOLE | NONE | 60000 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD SPONSOR | Put | 874039950 |  | 4801462 | 15800 | SH | Put | SOLE | NONE | 15800 | 0 | 0 |
| TSS INC DEL | COM | 87288V101 |  | 188769 | 26700 | SH |  | SOLE | NONE | 26700 | 0 | 0 |
| TORO CO | COM | 891092108 |  | 1047921 | 13312 | SH |  | SOLE | NONE | 13312 | 0 | 0 |
| CVR PARTNERS LP | COM | 126633205 |  | 213610 | 2084 | SH |  | SOLE | NONE | 2084 | 0 | 0 |
| UPEXI INC | COM NEW | 39959A205 |  | 99695 | 59342 | SH |  | SOLE | NONE | 59342 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 2868808 | 8180 | SH |  | SOLE | NONE | 8180 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 204787 | 5508 | SH |  | SOLE | NONE | 5508 | 0 | 0 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 213321 | 9519 | SH |  | SOLE | NONE | 9519 | 0 | 0 |
| WHERE FOOD COMES FROM INC | COM NEW | 96327X200 |  | 374011 | 32551 | SH |  | SOLE | NONE | 32551 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET UTI | 81369Y886 |  | 1801347 | 42196 | SH |  | SOLE | NONE | 42196 | 0 | 0 |
| XP INC | Put | G98239959 |  | 8185000 | 500000 | SH | Put | SOLE | NONE | 500000 | 0 | 0 |
| XEROX HOLDINGS CORP | COM NEW | 98421M106 |  | 180831 | 76300 | SH |  | SOLE | NONE | 76300 | 0 | 0 |
| YELP INC | CL A | 985817105 |  | 200726 | 6605 | SH |  | SOLE | NONE | 6605 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 1707951 | 11290 | SH |  | SOLE | NONE | 11290 | 0 | 0 |
| YUM BRANDS INC | Call | 988498901 |  | 1512800 | 10000 | SH | Call | SOLE | NONE | 10000 | 0 | 0 |

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