# EDGAR Filing Document

**Accession Number:** 0000826020
**File Stem:** 0001049169-25-000371
**Filing Date:** 2025-9
**Character Count:** 560075
**Document Hash:** ba8fcf562dadab1a8763403badc637da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-25-000371.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001049169-25-000371

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Saba Capital Income & Opportunities Fund
- **CENTRAL INDEX KEY:** 0000826020

**ORGANIZATION NAME:**
- **EIN:** 956874587
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1030

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05410
- **FILM NUMBER:** 251349813

**BUSINESS ADDRESS:**
- **STREET 1:** 405 LEXINGTON AVENUE
- **STREET 2:** 58TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10174
- **BUSINESS PHONE:** 212-542-3610

**MAIL ADDRESS:**
- **STREET 1:** 405 LEXINGTON AVENUE, 58TH FLOOR
- **STREET 2:** C/O SABA CAPITAL MANAGEMENT, L.P.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10174

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Voya PRIME RATE TRUST
- **DATE OF NAME CHANGE:** 20140421

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING PRIME RATE TRUST
- **DATE OF NAME CHANGE:** 20020205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PILGRIM AMERICA PRIME RATE TRUST
- **DATE OF NAME CHANGE:** 19960518

## Nport-Ex

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **CORPORATE BONDS - 12.46%** |  |  |
| **Communications - 3.37%** |  |  |
| Altice France Holding S.A., 5.500%, 10/15/2029<sup>(b)</sup> | $1322000 | $1156750 |
| Clear Channel Outdoor Holdings, 7.500%, 06/01/2029<sup>(b)</sup> | 3039000 | 2780685 |
| CSC Holdings LLC, 3.375%, 02/15/2031<sup>(b)</sup> | 559000 | 370338 |
| DISH Network Corp., 11.750%, 11/15/2027<sup>(b)</sup> | 3401000 | 3562548 |
| Level 3 Financing Inc., 3.875%, 10/15/2030<sup>(b)</sup> | 3706600 | 3215476 |
| Trump Media & Technology Group Corp., 0.000%, 05/29/2028<sup>(f)</sup> | 1462 | 1384410 |
|  |  | **12470207** |
| **Consumer Discretionary - 5.41%** |  |  |
| 1261229 B.C. Ltd., 10.000%, 04/15/2032 | 3045000 | 3105900 |
| Adtalem Global Education, Inc., 5.500%, 03/01/2028<sup>(b)</sup> | 4195000 | 4174025 |
| Beach Acquisition Bidco LLC, 10.000%, 07/15/2033 | 1034000 | 1081822 |
| Community Health Systems, Inc., 6.875%, 04/15/2029 | 1843000 | 1455970 |
| Community Health Systems, Inc., 9.750%, 01/15/2034<sup>(f)</sup> | 3308000 | 3326608 |
| RR Donnelley & Sons Co., 10.870%, 08/01/2029<sup>(b)</sup> | 3610000 | 3533288 |
| RRD PARENT INC, 12.000%, 02/04/2030 | 303000 | 343905 |
| Selina Hospitality, 6.000%, 11/01/2029<sup>(a)(f)</sup> | 4981328 | 61968 |
| Staples Inc., 10.750%, 09/01/2029<sup>(b)</sup> | 3135000 | 2946900 |
|  |  | **20030386** |
| **Financials - 2.23%** |  |  |
| Compass Group Diversified Holdings LLC, 5.250%, 04/15/2029 | 2452000 | 2283425 |
| Morgan Stanley, 0.000% (Variable Rate), 04/30/2030<sup>(i)</sup> | 25000 | 16095 |
| Morgan Stanley, 0.000% (Variable Rate), 07/31/2030<sup>(i)</sup> | 80000 | 54338 |
| Morgan Stanley, 0.000% (Variable Rate), 10/30/2030<sup>(i)</sup> | 80000 | 55172 |
| Morgan Stanley, 0.000% (Variable Rate), 09/26/2033<sup>(i)</sup> | 428000 | 271121 |
| Morgan Stanley, 0.000% (Variable Rate), 10/31/2033<sup>(i)</sup> | 266000 | 161816 |
| Morgan Stanley, 0.000% (Variable Rate), 02/28/2034<sup>(i)</sup> | 478000 | 294091 |
| Morgan Stanley, 0.000% (Variable Rate), 03/31/2034<sup>(i)</sup> | 302000 | 204481 |
| Morgan Stanley, 0.000% (Variable Rate), 04/30/2034<sup>(i)</sup> | 66000 | 40294 |
| Morgan Stanley, 0.000% (Variable Rate), 05/30/2034<sup>(I)</sup> | 89000 | 53809 |
| Morgan Stanley, 0.000% (Variable Rate), 06/30/2034<sup>(I)</sup> | 460000 | 283415 |
| Morgan Stanley, 0.000% (Variable Rate), 07/31/2034<sup>(I)</sup> | 25000 | 15466 |
| Morgan Stanley, 0.000% (Variable Rate), 08/29/2034<sup>(I)</sup> | 171000 | 107858 |
| Morgan Stanley, 0.000% (Variable Rate), 09/30/2034<sup>(I)</sup> | 319000 | 198133 |
| Morgan Stanley, 0.000% (Variable Rate), 10/08/2034<sup>(I)</sup> | 32000 | 20291 |
| Morgan Stanley, 0.000% (Variable Rate), 10/31/2034<sup>(i)</sup> | 641000 | 393389 |
| Morgan Stanley, 0.000% (Variable Rate), 11/28/2034<sup>(i)</sup> | 256000 | 154042 |
| Morgan Stanley, 0.000% (Variable Rate), 01/30/2035<sup>(i)</sup> | 244000 | 151644 |
| Morgan Stanley, 0.000% (Variable Rate), 02/27/2035<sup>(i)</sup> | 36000 | 22943 |
| Morgan Stanley, 0.000% (Variable Rate), 03/31/2035<sup>(i)</sup> | 641000 | 385014 |
| Morgan Stanley, 0.000% (Variable Rate), 02/29/2036<sup>(i)</sup> | 61000 | 36112 |
| Morgan Stanley, 0.000% (Variable Rate), 04/28/2036<sup>(i)</sup> | 10000 | 6098 |
| Morgan Stanley, 0.000% (Variable Rate), 06/30/2036<sup>(i)</sup> | 40000 | 25056 |
| Morgan Stanley, 0.000% (Variable Rate), 08/31/2036<sup>(i)</sup> | 2289000 | 1774895 |
| Morgan Stanley, 0.000% (Variable Rate), 09/30/2036<sup>(i)</sup> | 40000 | 30959 |

---

Quarterly Report \| July 31, 2025 1

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| Morgan Stanley, 0.000% (Variable Rate), 11/29/2036<sup>(i)</sup> | $103000 | $81091 |
| Morgan Stanley, 0.000% (Variable Rate), 01/31/2037<sup>(i)</sup> | 224000 | 174901 |
| Morgan Stanley, 0.000% (Variable Rate), 03/31/2037<sup>(i)</sup> | 747000 | 536971 |
| Morgan Stanley, 0.000% (Variable Rate), 04/28/2037<sup>(i)</sup> | 40000 | 30077 |
| Morgan Stanley, 0.000% (Variable Rate), 05/31/2037<sup>(i)</sup> | 25000 | 19212 |
| Morgan Stanley, 0.000% (Variable Rate), 08/31/2037<sup>(i)</sup> | 58000 | 49073 |
| UBS Group AG, 0.000% (Variable Rate), 07/31/2030<sup>(i)</sup> | 10000 | 7120 |
| UBS Group AG, 0.000% (Variable Rate), 10/30/2030<sup>(i)</sup> | 420000 | 299549 |
|  |  | **8237951** |
| **Industrials - 0.45%** |  |  |
| LABL Inc., 8.625%, 10/01/2031<sup>(b)</sup> | 1998000 | 1665833 |
|  |  | **1665833** |
| **Real Estate - 1.00%** |  |  |
| China Evergrande Group, 8.250%, 03/23/2022<sup>(a)(e)(f)</sup> | 7985000 | 139739 |
| China Evergrande Group, 9.500%, 04/11/2022<sup>(a)(e)(f)</sup> | 3205000 | 56089 |
| China Evergrande Group, 11.500%, 01/22/2023<sup>(a)(e)(f)</sup> | 6500000 | 113751 |
| China Evergrande Group, 10.000%, 04/11/2023<sup>(a)(e)(f)</sup> | 11180000 | 195651 |
| China Evergrande Group, 7.500%, 06/28/2023<sup>(a)(e)(f)</sup> | 16029000 | 280509 |
| China Evergrande Group, 12.000%, 01/22/2024<sup>(a)(e)(f)</sup> | 8094000 | 141646 |
| China Evergrande Group, 9.500%, 03/29/2024<sup>(a)(e)(f)</sup> | 13321000 | 233119 |
| China Evergrande Group, 10.500%, 04/11/2024<sup>(a)(e)(f)</sup> | 17000000 | 297501 |
| China Evergrande Group, 8.750%, 06/28/2025<sup>(a)(e)(f)</sup> | 127633001 | 2233579 |
|  |  | **3691584** |
| **TOTAL CORPORATE BONDS** |  | **46095961** |
| (Cost $64,304,583) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **SENIOR LOANS - 8.08%** | | |
| **Communications - 0.58%** | | |
| Gogo Intermediate Holdings LLC, Initial Term Loan, TSFR6M + 3.750%, 04/30/2028 | 2151800 | 2140137 |
|  |  | **2140137** |
| **Consumer Discretionary - 5.12%** |  |  |
| AMC Entertainment, Term Loan, TSFR1M + 9.000%, 01/04/2029 | 3061857 | 3088137 |
| J Crew Group LLC, Initial Term Loan, TSFR3M + 6.000%, 09/26/2031 | 8584058 | 7307179 |
| NPC International, Inc., Second Lien Term Loan, 3M US L + 7.500%, 04/18/2025<sup>(f)(j)</sup> | 605000 |  |
| The GEO Group, Inc., Term B Loan, TSFR1M + 5.250%, 04/13/2029 | 5097350 | 5120288 |
| Vortex Opco LLC, Term Loan, TSFR3M + 6.250%, 4/30/2030 | 3436000 | 3438697 |
|  |  | **18954301** |
| **Consumer Staples - 0.48%** |  |  |
| Moran Foods LLC, First Lien A&R 2023 FLFO PIK Term Loan, TSFR3M + 11.954%, 06/30/2026<sup>(i)</sup> | 554036 | 401676 |
| Moran Foods LLC, First Lien A&R 2023 FLSO PIK Term Loan, TSFR3M + 11.954%, 06/30/2026<sup>(i)</sup> | 968854 | 702419 |
| Moran Foods LLC, First Lien Term Loan, TSFR3M + 7.250%, 06/30/2026 | 927417 | 672378 |
|  |  | **1776473** |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **Health Care - 0.61%** |  |  |
| 1261229 B.C. Ltd., Term Loan, 1M SOFR + 6.250%, 10/08/2030 | $1073053 | $1054194 |
| ModivCare Inc., Term Loan, TSFR3M + 4.750%, 07/01/2031 | 1846970 | 1185145 |
|  |  | **2239339** |
| **Industrials - 0.83%** |  |  |
| Multi-Color Corp., Term Loan, TSFR1M + 5.000%, 10/29/2028 | 3392270 | 3082726 |
|  |  | **3082726** |
| **Information Technology - 0.43%** |  |  |
| X Corp., Term B3 Loan, 9.500%, 10/29/2029 | 1653198 | 1606247 |
|  |  | **1606247** |
| **Materials - 0.03%** |  |  |
| CPC Acquisition Corp., Second Lien Term Loan, TSFR3M + 7.750%, 12/29/2028 | 175000 | 88303 |
|  |  | **88303** |
| **TOTAL SENIOR LOANS** |  | **29887526** |
| (Cost $33,127,824) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **CONVERTIBLE CORPORATE BONDS - 2.04%** |  |  |
| **Financials - 2.04%** |  |  |
| BSTR Holdings Inc., 1.000%, 07/15/2030<sup>(c)</sup> | 2310 | 2310000 |
| Columbus Circle Capital Corp. I, 0.000%, 12/31/2028<sup>(c)(f)</sup> | 2220157 | 2153552 |
| MI7 Founders, LLC, 1.000%, 07/01/2030<sup>(c)(f)</sup> | 3081950 | 3081950 |
|  |  | **7545502** |
| **TOTAL CONVERTIBLE CORPORATE BONDS** |  | **7545502** |
| (Cost $7,545,502) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **MORTGAGE-BACKED SECURITIES - 0.98%** |  |  |
| **Federal National Mortgage Association (FNMA) - 0.98%** |  |  |
| FNMA, Series 427, Class C20, 2.000%, 02/25/2051 | 6577857 | 886027 |
| FNMA, Series 428, Class C15, 3.000%, 07/25/2052 | 2138092 | 386934 |
| FNMA, Series 429, Class C5, 3.000%, 10/25/2052 | 7824102 | 1457163 |
| FNMA, Series 437, Class C8, 2.500%, 06/25/2052 | 5482582 | 878387 |
| **TOTAL MORTGAGE-BACKED SECURITIES** |  | **3608511** |
| (Cost $3,192,738) |  |  |

---

Quarterly Report \| July 31, 2025 3

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **COMMON STOCK - 14.03%** | | |
| **Commercial Services - 0.02%** |  |  |
| Travelport LLC<sup>(f)</sup> | 69 | $69000 |
|  |  | **69000** |
| **Communications - 4.34%** |  |  |
| Baidu, Inc.<sup>(f)</sup> | 18367 | 1613908 |
| Bumble, Inc.<sup>(f)(g)</sup> | 1057465 | 8227078 |
| Snap Inc.<sup>(f)</sup> | 99084 | 934362 |
| Telephone and Data Systems Inc. | 16346 | 638148 |
| Weibo Corp.<sup>(g)</sup> | 481775 | 4644311 |
|  |  | **16057807** |
| **Consumer Discretionary - 1.36%** |  |  |
| 24 Hour Fitness Worldwide<sup>(f)</sup> | 306005 | 2142 |
| Arbe Robotics, Ltd.<sup>(f)</sup> | 217728 | 293933 |
| Capri Holdings Ltd.<sup>(f)</sup> | 28458 | 517651 |
| Dave & Buster's Entertainment, Inc.<sup>(f)</sup> | 10868 | 317780 |
| Evolution AB | 31166 | 2777457 |
| Everyware Global<sup>(c)(f)(j)</sup> | 43777 |  |
| Next.e.GO N.V.<sup>(f)</sup> | 5788 | 1 |
| Polestar Automotive Holding UK PLC<sup>(f)</sup> | 116694 | 124863 |
| The RealReal, Inc.<sup>(f)</sup> | 68565 | 360652 |
| Winnebago Industries, Inc. | 21878 | 650214 |
|  |  | **5044693** |
| **Consumer Staples - 0.00%<sup>(d)</sup>** |  |  |
| Benson Hill, Inc.<sup>(f)(j)</sup> | 3906 |  |
| Moran Foods LLC<sup>(c)(f)(j)</sup> | 3699885 | - |
|  |  | **-** |
| **Energy - 0.05%** |  |  |
| Granite Ridge Resources, Inc. | 33264 | 172640 |
|  |  | **172640** |
| **Financials - 3.16%** |  |  |
| Allfunds Group plc | 342549 | 2384595 |
| Cannae Holdings, Inc. | 322675 | 6898792 |
| Compass Diversified Holdings | 36282 | 231842 |
| PagSeguro Digital, Ltd.<sup>(g)</sup> | 277770 | 2174939 |
| Symphony International Holdings Ltd.<sup>(f)</sup> | 31566 | 12942 |
|  |  | **11703110** |
| **Health Care - 0.44%** |  |  |
| Arbutus Biopharma Corp.<sup>(f)</sup> | 243660 | 799205 |
| Community Health Systems Inc<sup>(f)</sup> | 216402 | 562645 |
| Compass Pathways plc<sup>(f)</sup> | 61188 | 266168 |
| Profusa Inc.<sup>(f)</sup> | 3848 | 2694 |
|  |  | **1630712** |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **Industrials - 1.72%** |  |  |
| Vertical Aerospace Ltd.<sup>(f)</sup> | 890409 | $5449303 |
| Voyager Technologies Inc.<sup>(f)</sup> | 11180 | 447424 |
|  |  | **6360358** |
| **Information Technology - 0.34%** |  |  |
| GDS Holdings Ltd.<sup>(f)</sup> | 34973 | 1261476 |
|  |  | **1261476** |
| **Materials - 0.98%** |  |  |
| Covia Energy LLC | 169353 | 3358777 |
| Critical Metals Corp.<sup>(f)</sup> | 50528 | 252639 |
|  |  | **3611416** |
| **Real Estate - 0.65%** |  |  |
| Anywhere Real Estate, Inc.<sup>(f)</sup> | 81845 | 378124 |
| CBRE Group Inc.<sup>(f)</sup> | 3064 | 477186 |
| Star Holdings<sup>(f)</sup> | 188549 | 1355666 |
| TAG Immobilien AG | 13120 | 210513 |
|  |  | **2421489** |
| **Technology - 0.68%** |  |  |
| CommScope Holding Company, Inc.<sup>(f)</sup> | 83803 | 687184 |
| Core Scientific Inc.<sup>(f)</sup> | 59919 | 811289 |
| IREN Ltd.<sup>(f)</sup> | 13043 | 210106 |
| Vertex, Inc.<sup>(f)</sup> | 24381 | 808684 |
|  |  | **2517263** |
| **Utilities - 0.29%** |  |  |
| Longview Power LLC<sup>(f)</sup> | 61813 | 1081727 |
|  |  | **1081727** |
| **TOTAL COMMON STOCK** |  | **51931691** |
| (Cost $44,786,783) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **CLOSED END FUNDS - 15.58%** | | |
| **Alternative - 2.53%** | | |
| BlackRock ESG Capital Allocation Term Trust | 410267 | 6691455 |
| Destra Multi-Alternative Fund | 56768 | 496152 |
| VGI Partners Global Investments, Ltd. | 1909713 | 2184549 |
|  |  | **9372156** |
| **Equity - 5.87%** |  |  |
| abrdn Emerging Markets Equity Income Fund, Inc. | 497 | 3002 |
| abrdn Japan Equity Fund, Inc. | 46838 | 351753 |
| abrdn Life Sciences Investors | 29264 | 384236 |
| Argo Global Listed Infrastructure Limited<sup>(f)</sup> | 6263 | 9378 |
| Argo Investments Ltd.<sup>(f)</sup> | 139250 | 837616 |
| ASA Gold and Precious Metals Ltd. | 163658 | 5065215 |
| Australian United Investment Company Ltd<sup>(f)</sup> | 5375 | 38998 |
| BlackRock Science & Technology Trust II | 3629 | 77189 |

---

Quarterly Report \| July 31, 2025 5

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Direxion Daily Robotics Artificial Intelligence & Automation Index Bull 2X Shares<sup>(f)</sup> | 10072 | $229188 |
| Diversified United Investment Ltd. | 55728 | 196258 |
| Future Generation Global Ltd. | 97911 | 98474 |
| GAMCO Natural Resources, Gold & Income Trust | 12027 | 75650 |
| Hearts and Minds Investments, Ltd. | 1096098 | 2373848 |
| Japan Smaller Capitalization Fund, Inc. | 7763 | 75146 |
| MFF Capital Investments, Ltd. | 1163312 | 3438965 |
| Neuberger Berman MLP & Energy Income Fund, Inc. | 3524 | 30870 |
| Neuberger Berman Next Generation Connectivity Fund, Inc. | 165408 | 2459617 |
| NYLI CBRE Global Infrastructure Megatrends Term Fund | 74080 | 1062307 |
| Pengana International Equities, Ltd. | 4101590 | 3308031 |
| Principal Real Estate Income Fund | 8744 | 90763 |
| Taiwan Fund, Inc. | 3223 | 147565 |
| Tortoise Energy Infrastructure Fund, Inc. | 24609 | 1066554 |
| Voya Emerging Markets High Dividend Equity Fund | 46770 | 275943 |
| Whitefield Ltd. | 3656 | 13345 |
|  |  | **21709911** |
| **Fixed Income - 3.18%** |  |  |
| AllianceBernstein National Municipal Income Fund | 396 | 4015 |
| BlackRock California Municipal Income Trust | 119538 | 1247977 |
| BlackRock MuniHoldings California Quality Fund, Inc. | 2532 | 25472 |
| BlackRock MuniHoldings New York Quality Fund, Inc. | 1340 | 12743 |
| BlackRock MuniYield New York Quality Fund, Inc. | 48 | 442 |
| BlackRock New York Municipal Income Trust | 1606 | 15096 |
| BNY Mellon Strategic Municipal Bond Fund, Inc. | 190 | 1051 |
| Eaton Vance California Municipal Bond Fund | 59833 | 527727 |
| Eaton Vance New York Municipal Bond Fund | 144910 | 1314334 |
| Ellsworth Growth and Income Fund, Ltd. | 85672 | 904696 |
| Federated Hermes Premier Municipal Income Fund | 2156 | 22724 |
| MFS High Income Municipal Trust | 1680 | 5964 |
| Neuberger Berman Municipal Fund Inc. | 892 | 8742 |
| Nuveen New Jersey Quality Municipal Income Fund | 4492 | 50221 |
| Nuveen Pennsylvania Quality Municipal Income Fund | 60219 | 653376 |
| PIMCO Dynamic Income Strategy Fund | 231564 | 5747418 |
| Pioneer Municipal High Income Advantage Fund, Inc. | 961 | 7794 |
| Pioneer Municipal High Income Fund, Inc. | 108304 | 972570 |
| Pioneer Municipal High Income Opportunities Fund, Inc. | 22790 | 260946 |
|  |  | **11783308** |
| **Mixed Allocation - 2.96%** |  |  |
| Nuveen Multi-Asset Income Fund | 61273 | 772040 |
| Pershing Square Holdings Ltd. | 175609 | 9746300 |
| Tortoise Sustainable and Social Impact Term Fund | 37012 | 449685 |
|  |  | **10968025** |
| **Private Equity - 1.04%** |  |  |
| Syncona Ltd.<sup>(f)</sup> | 2970624 | 3825090 |
| The Schiehallion Fund<sup>(f)</sup> | 1014 | 1217 |
|  |  | **3826307** |
| **TOTAL CLOSED END FUNDS** |  | **57659707** |
| (Cost $43,646,483) |  |  |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **INVESTMENT TRUSTS - 7.27%** | | |
| **Alternative - 2.34%** | | |
| Bitwise 10 Crypto Index Fund<sup>(f)(g)</sup> | 117441 | $8675108 |
|  |  | **8675108** |
| **Equity - 4.93%** |  |  |
| BlackRock Smaller Companies Trust PLC | 71210 | 1248902 |
| Fidelity Emerging Markets Ltd. | 932297 | 10268564 |
| Herald Investment Trust PLC<sup>(f)</sup> | 2610 | 84794 |
| Schroder British Opportunities Trust PLC<sup>(f)</sup> | 1453746 | 1420724 |
| Schroder UK Mid Cap Fund PLC | 570790 | 5216411 |
|  |  | **18239395** |
| **Mixed Allocation - 0.00%<sup>(d)</sup>** |  |  |
| abrdn Diversified Income and Growth Trust PLC<sup>(f)</sup> | 7080 | 4585 |
|  |  | **4585** |
| **TOTAL INVESTMENT TRUSTS** |  | **26919088** |
| (Cost $18,369,035) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **PREFERRED STOCK - 1.39%** |  |  |
| **Consumer Discretionary - 0.99%** |  |  |
| 24 Hour Fitness Worldwide, Inc.<sup>(f)</sup> | 407959 | 2856 |
| G-ILS Transportation Ltd. Preferred B-3<sup>(c)(f)</sup> | 1332 | 2139243 |
| HAAT Delivery Ltd. Preferred Seed-1<sup>(c)(f)</sup> | 64188 | 1514538 |
|  |  | **3656637** |
| **Health Care - 0.12%** |  |  |
| Integrity Labs, Inc.<sup>(c)(f)</sup> | 439521 | 439521 |
|  |  | **439521** |
| **Technology - 0.28%** |  |  |
| Xtend Reality Expansion Ltd. Preferred B-2<sup>(c)(f)</sup> | 775774 | 1037210 |
|  |  | **1037210** |
| **TOTAL PREFERRED STOCK** |  | **5133368** |
| (Cost $4,812,584) |  |  |

---

---

| | |
|:---|:---|
| | **Fair Value** |
| **PARTICIPATION AGREEMENTS - 0.24%** |  |
| Caesars Entertainment, Inc. (Covid Insurance Claim)<sup>(c)(f)(g)(j)</sup> |  |
| PK Funding 2023 LLC<sup>(c)</sup> | 888284 |
| **TOTAL PARTICIPATION AGREEMENTS** | **888284** |
| (Cost $3,208,289) |  |

---

Quarterly Report \| July 31, 2025 7

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | |
|:---|:---|
| | **Fair Value** |
| **PRIVATE FUNDS - 17.42%** |  |
| Alternative Capital Investments Fund III LP, Special Class Interests<sup>(f)</sup> | $8848523 |
| Alternative Capital Investments Fund III LP, Special Class Interests 2 | 128841 |
| Alternative Capital Investments Fund III LP, Standard Class Interests<sup>(f)</sup> | 665275 |
| New Holland Special Opportunities Aggregator LP, Class M Interests<sup>(h)(f)</sup> | 4732132 |
| New Holland Special Opportunities Aggregator LP, Class Y-5 Interests<sup>(f)(h)</sup> | 1186445 |
| New Holland Special Opportunities Aggregator LP, Class Y Interests<sup>(h)</sup> | 3430 |
| Stone Ridge Opportunities Fund Feeder LP<sup>(f)</sup> | 48896712 |
| **TOTAL PRIVATE FUNDS** | **64461358** |
| (Cost $39,117,269) |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **UNIT TRUST - 7.91%** | | |
| **Specialty - 7.91%** | | |
| Grayscale Ethereum Classic Trust<sup>(f)(g)</sup> | 2771019 | 29289632 |
| **TOTAL UNIT TRUST** |  | **29289632** |
| (Cost $24,477,006) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **SPECIAL PURPOSE ACQUISITION COMPANIES - 8.08%** |  |  |
| 180 Life Sciences, Corp.<sup>(c)(f)</sup> | 231904 | 614546 |
| 1RT Acquisition Corp.<sup>(f)</sup> | 46371 | 486896 |
| Armada II, Class A<sup>(c)(f)</sup> | 116917 | 371 |
| Armada II, Class B<sup>(c)(f)</sup> | 14615 | 146150 |
| Axiom Intelligence Holdings 1 LLC, Class A<sup>(c)(f)</sup> | 142090 | 568 |
| Axiom Intelligence Holdings 1 LLC, Class B<sup>(c)(f)</sup> | 17761 | 177610 |
| Bengochea SPAC Sponsors II LLC, Class A<sup>(c)(f)</sup> | 172589 | 690 |
| Bengochea SPAC Sponsors II LLC, Class B<sup>(c)(f)</sup> | 21574 | 215740 |
| Berto Acquisition Corp.<sup>(f)</sup> | 97523 | 1058125 |
| Blue Holdings, Class A<sup>(c)(f)</sup> | 177613 | 710 |
| Blue Holdings, Class B<sup>(c)(f)</sup> | 17761 | 177610 |
| Blue Water Acquisition III LLC, Class A<sup>(c)(f)</sup> | 177972 | 712 |
| Blue Water Acquisition III LLC, Class B<sup>(c)(f)</sup> | 22247 | 222470 |
| Cal Redwood Acquisition Corp., Class A<sup>(c)(f)</sup> | 175375 | 526 |
| Cal Redwood Acquisition Corp., Class B<sup>(c)(f)</sup> | 21922 | 219220 |
| Cantor Equity Partners Inc.<sup>(c)(f)</sup> | 77018 | 770180 |
| Cantor Equity Partners II Inc.<sup>(f)</sup> | 39572 | 425399 |
| Cantor Equity Partners III Inc.<sup>(f)</sup> | 61275 | 642162 |
| CEA Industries Inc.<sup>(c)(f)</sup> | 30423 | 307272 |
| Cohen Circle Acquisition Corp. II<sup>(f)</sup> | 43473 | 446902 |
| Cohen Circle Sponsor II, LLC, Class A<sup>(c)(f)</sup> | 44405 | 444 |
| Cohen Circle Sponsor II, LLC, Class B<sup>(c)(f)</sup> | 8881 | 88810 |
| Columbus Circle Capital Corp. I<sup>(c)(f)</sup> | 14801 | 139722 |
| Columbus Circle Capital Corp. I LLC, Class A<sup>(c)(f)</sup> | 25580 | 217942 |
| Columbus Circle Capital Corp. I LLC, Class B<sup>(c)(f)</sup> | 3837 | 42130 |
| Deezer SA<sup>(f)</sup> | 8179 | 11574 |
| Digital Asset Acquisition Corp.<sup>(f)</sup> | 33822 | 1175121 |
| EGH Sponsor LLC, Class A<sup>(c)(f)</sup> | 76184 | 229 |
| EGH Sponsor LLC, Class B<sup>(c)(f)</sup> | 9523 | 95230 |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Empery Digital Inc.<sup>(c)(f)</sup> | 23105 | $231050 |
| EQV Ventures Acquisition Corp. II<sup>(f)</sup> | 60591 | 611363 |
| Ether Reserve LLC<sup>(c)(f)</sup> | 77018 | 770180 |
| FIGX Acquisition Partners LLC Class A<sup>(c)(f)</sup> | 112488 | 450 |
| FIGX Acquisition Partners LLC Class B<sup>(c)(f)</sup> | 14061 | 140610 |
| Gerresheimer AG<sup>(f)</sup> | 56542 | 2799128 |
| GP-Act III Acquisition Corp., Class A<sup>(c)(f)</sup> | 30730 | 28272 |
| Graf Global Corp.<sup>(c)(f)(g)</sup> | 20960 | 21170 |
| HCM Investor Holdings III, LLC, Class A<sup>(c)(f)</sup> | 134835 | 405 |
| HCM Investor Holdings III, LLC, Class B<sup>(c)(f)</sup> | 179780 | 269670 |
| Inflection Point Acquisition Corp. III<sup>(f)</sup> | 107378 | 1125321 |
| Lightwave Acquisition Corp.<sup>(f)</sup> | 48885 | 497160 |
| LightWave Founders LLC, Class A<sup>(c)(f)</sup> | 208140 | 833 |
| LightWave Founders LLC, Class B<sup>(c)(f)</sup> | 20814 | 208140 |
| MI7 Founders, LLC, Class A<sup>(c)(f)</sup> | 308194 | 2776828 |
| NewHold Investment Corp III, Class A<sup>(c)(f)</sup> | 87582 | 326 |
| NewHold Investment Corp III, Class B<sup>(c)(f)</sup> | 10948 | 108429 |
| New Providence Acquisition Corp. III<sup>(f)</sup> | 35501 | 361045 |
| New Providence Holdings III, LLC<sup>(c)(f)</sup> | 20816 | 208160 |
| Nogin, Inc.<sup>(f)</sup> | 11264 | 451 |
| Oxley Bridge Holdings LLC, Class A<sup>(c)(f)</sup> | 166107 | 664 |
| Oxley Bridge Holdings LLC, Class B<sup>(c)(f)</sup> | 207633 | 207633 |
| Oyster Enterprises II LLC, Class A<sup>(c)(f)</sup> | 175809 | 703 |
| Oyster Enterprises II LLC, Class B<sup>(c)(f)</sup> | 21976 | 219760 |
| Perimeter Acquisition Corp. I<sup>(f)</sup> | 129738 | 1315543 |
| Pioneer Acquisition 1 Sponsor Holdco LLC, Class A<sup>(c)(f)</sup> | 177613 | 710 |
| Pioneer Acquisition 1 Sponsor Holdco LLC, Class B<sup>(c)(f)</sup> | 222016 | 222016 |
| ProCap Acquisition Corp.<sup>(f)</sup> | 120801 | 1290155 |
| Real Asset Acquisition Corp.<sup>(f)</sup> | 99345 | 1048586 |
| Renatus Tactical Acquisition Corp. I<sup>(f)</sup> | 10674 | 123818 |
| Republic Digital Acquisition Company<sup>(f)</sup> | 250620 | 2593917 |
| Sonnet BioTherapeutics Holdings, Inc.<sup>(c)(f)</sup> | 369687 | 462108 |
| Soulpower Acquisition Sponsor LLC, Class A<sup>(c)(f)</sup> | 156445 | 626 |
| Soulpower Acquisition Sponsor LLC, Class B<sup>(c)(f)</sup> | 19556 | 195560 |
| Titan Acquisition Sponsor Holdco, LLC, Class A<sup>(c)(f)</sup> | 93906 | 376 |
| Trump Media & Technology Group Corp.<sup>(f)</sup> | 56822 | 999499 |
| TV Partners III, LLC, Class A<sup>(c)(f)</sup> | 221754 | 665 |
| TV Partners III, LLC, Class B<sup>(c)(f)</sup> | 277192 | 277192 |
| VO Sponsor II, LLC Class A<sup>(c)(f)</sup> | 93906 | 282 |
| VO Sponsor II, LLC Class B<sup>(c)(f)</sup> | 117383 | 117383 |
| Wen Acquisition Corp.<sup>(f)</sup> | 240595 | 2562337 |
| Wen Sponsor LLC, Class A<sup>(c)(f)</sup> | 163709 | 655 |
| Wen Sponsor LLC, Class B<sup>(c)(f)</sup> | 204637 | 204636 |
| XTao Inc.<sup>(c)(f)</sup> | 46230 | 231145 |
| **TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES** |  | **29920021** |
| (Cost $30,554,433) |  |  |

---

Quarterly Report \| July 31, 2025 9

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| **WARRANTS - 1.68%** |  |  |
| A SPAC II Acquisition Corp., Expires 05/03/2027, Strike Price $11.50<sup>(f)</sup> | 34421 | $688 |
| Abpro Holdings Inc., Expires 11/12/2029, Strike Price $11.50<sup>(f)</sup> | 80774 | 4128 |
| AEYE Health, Inc., Expires 4.5 years after issuance, Strike Price $2.88<sup>(f)(j)</sup> | 6 |  |
| Agrinam Acquisition Corp., Expires 06/30/2027, Strike Price $11.50<sup>(f)</sup> | 19798 | 99 |
| AirJoule Technologies Corp., Expires 03/15/2029, Strike Price $11.50<sup>(f)</sup> | 37175 | 25279 |
| Airship AI Holdings Inc., Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 6212 | 10933 |
| AleAnna Inc., Expires 12/13/2026, Strike Price $11.50<sup>(f)</sup> | 132 | 21 |
| Allurion Technologies Inc., Expires 08/01/2030, Strike Price $8.10<sup>(f)</sup> | 16492 | 688 |
| Alternus Clean Energy Inc., Expires 02/24/2028, Strike Price $11.50<sup>(f)</sup> | 49587 | 1983 |
| APx Acquisition Corp. I, Expires 08/19/2028, Strike Price $11.50<sup>(f)</sup> | 3981 | 239 |
| Arverne Group SA, Expires 09/20/2028, Strike Price $11.50<sup>(f)</sup> | 33822 | 1930 |
| Aspire Biopharma Holdings Inc., Expires 02/18/2030, Strike Price $11.50<sup>(f)</sup> | 70545 | 4945 |
| Athena Technology Acquisition Corp. II, Expires 10/17/2028, Strike Price $11.50<sup>(f)</sup> | 36968 | 2000 |
| Aura FAT Projects Acquisition Corp., Expires 06/02/2027, Strike Price $11.50<sup>(f)</sup> | 58439 | 1683 |
| Baird Medical Investment Holdings Ltd., Expires 10/02/2029, Strike Price $11.50<sup>(f)</sup> | 22349 | 2011 |
| BenevolentAI, Expires 06/30/2026, Strike Price $11.50<sup>(f)</sup> | 7014 | 80 |
| Benson Hill Inc., Expires 03/25/2027, Strike Price $3.90<sup>(c)(f)</sup> | 187607 | 13872 |
| Berto Acquisition Corp., Expires 05/01/2030, Strike Price $11.50<sup>(f)</sup> | 9199 | 6899 |
| Bitcoin Depot Inc., Expires 07/03/2028, Strike Price $11.50<sup>(f)</sup> | 84714 | 41942 |
| BitFuFu Inc., Expires 06/07/2028, Strike Price $11.50<sup>(f)</sup> | 29947 | 9730 |
| Blaize Holdings Inc., Expires 12/18/2026, Strike Price $11.50<sup>(f)</sup> | 13861 | 8057 |
| Blue Gold Ltd, Expires 06/26/2030, Strike Price $11.50<sup>(f)</sup> | 31463 | 14772 |
| Borealis Foods Inc., Expires 08/26/2026, Strike Price $11.50<sup>(f)</sup> | 20287 | 2003 |
| Brand Engagement Network Inc., Expires 03/14/2029, Strike Price $11.50<sup>(f)</sup> | 25249 | 783 |
| Cactus Acquisition Corp. 1, Ltd., Expires 10/29/2026, Strike Price $11.50<sup>(f)</sup> | 21180 | 424 |
| Canna-Global Acquisition Corp., Expires 02/09/2028, Strike Price $11.50<sup>(f)</sup> | 154766 | 15 |
| Capitalworks Emerging Markets Acquisition Corp., Expires 04/27/2028, Strike Price $11.50<sup>(f)</sup> | 69120 | 6912 |
| Captivision Inc., Expires 11/16/2028, Strike Price $11.50<sup>(f)</sup> | 43794 | 1104 |
| Cardio Diagnostics Holdings, Inc., Expires 12/01/2026, Strike Price $11.50<sup>(f)</sup> | 19933 | 282 |
| Carmell Therapeutics Corp., Expires 07/12/2028, Strike Price $11.50<sup>(f)</sup> | 3816 | 102 |
| CARTESIAN GROWTH Corp. II, Expires 07/12/2028, Strike Price $11.50<sup>(f)</sup> | 5984 | 957 |
| Cartica Acquisition Corp., Expires 04/30/2028, Strike Price $11.50<sup>(f)</sup> | 74354 | 17101 |
| CERo Therapeutics Holdings Inc., Expires 02/14/2029, Strike Price $11.50<sup>(f)</sup> | 21939 | 434 |
| Chain Bridge I, Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 33367 | 851 |
| Chenghe Acquisition I Co., Expires 04/22/2027, Strike Price $11.50<sup>(f)</sup> | 400 | 23 |
| Chenghe Acquisition I Co., Expires 01/25/2028, Strike Price $11.50<sup>(f)</sup> | 37849 | 2649 |
| CID Holdco Inc., Expires 11/17/2026, Strike Price $11.50<sup>(f)</sup> | 94845 | 13753 |
| Classover Holdings Inc., Expires 05/26/2028, Strike Price $0.10<sup>(f)</sup> | 30413 | 2752 |
| ClimateRock, Expires 06/01/2027, Strike Price $11.50<sup>(f)</sup> | 11778 | 370 |
| Concord Acquisition Corp. II, Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 25741 | 1712 |
| Conduit Pharmaceuticals Inc., Expires 02/03/2027, Strike Price $11.50<sup>(f)</sup> | 51468 | 813 |
| Consilium Acquisition Corp. I, Ltd., Expires 06/01/2027, Strike Price $11.50<sup>(f)</sup> | 38488 | 5046 |
| Corner Growth Acquisition Corp., Expires 12/31/2027, Strike Price $11.50<sup>(f)</sup> | 41045 | 8619 |
| Critical Metals Corp., Expires 06/06/2028, Strike Price $11.50<sup>(f)</sup> | 32369 | 45317 |
| Critical Metals Corp., Expires 02/07/2029, Strike Price $7.00<sup>(f)</sup> | 50528 | 70739 |
| Currenc Group Inc., Expires 05/19/2027, Strike Price $11.50<sup>(f)</sup> | 55058 | 446 |
| Deezer SA, Expires 06/07/2027, Strike Price $11.50<sup>(f)</sup> | 95238 | 54 |
| Denali Capital Acquisition Corp., Expires 04/07/2027, Strike Price $11.50<sup>(f)</sup> | 27621 | 2210 |
| Digital Asset Acquisition Corp., Expires 04/01/2030, Strike Price $11.50<sup>(f)</sup> | 6695 | 5858 |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| DIH Holdings US Inc., Expires 02/07/2028, Strike Price $11.50<sup>(f)</sup> | 63578 | $1272 |
| Dynamix Corp., Expires 10/25/2029, Strike Price $11.50<sup>(f)</sup> | 55156 | 103693 |
| Engene Holdings Inc., Expires 08/28/2028, Strike Price $11.50<sup>(f)</sup> | 5604 | 5100 |
| EQV Ventures Acquisition Corp., Expires 07/01/2031, Strike Price $11.50<sup>(f)</sup> | 37448 | 29211 |
| EVe Mobility Acquisition Corp., Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 27110 | 1221 |
| Everest Consolidator Acquisition Corp., Expires 07/19/2028, Strike Price $11.50<sup>(f)</sup> | 50492 | 15 |
| Evergreen Corp., Expires 02/15/2027, Strike Price $11.50<sup>(f)</sup> | 70092 | 1069 |
| Fact II Acquisition Corp., Expires 11/26/2031, Strike Price $11.50<sup>(f)</sup> | 29805 | 7448 |
| flyExclusive Inc., Expires 05/28/2028, Strike Price $11.50<sup>(f)</sup> | 27981 | 1957 |
| Four Leaf Acquisition Corp., Expires 05/12/2028, Strike Price $11.50<sup>(f)</sup> | 3750 | 150 |
| FTAC Emerald Acquisition Corp., Expires 08/22/2028, Strike Price $11.50<sup>(f)</sup> | 18690 | 12111 |
| FutureTech II Acquisition Corp., Expires 02/16/2027, Strike Price $11.50<sup>(f)</sup> | 48383 | 1693 |
| GCL Global Holdings Ltd., Expires 05/01/2028, Strike Price $11.50<sup>(f)</sup> | 19704 | 2183 |
| GCT Semiconductor Holding Inc., Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 54452 | 4912 |
| Genesis Growth Tech Acquisition Corp., Expires 05/19/2028, Strike Price $11.50<sup>(f)</sup> | 6030 | 1 |
| Globalink Investment, Inc., Expires 12/03/2026, Strike Price $11.50<sup>(f)</sup> | 14771 | 591 |
| Gores Holdings X Inc., Expires 05/02/2030, Strike Price $11.50<sup>(f)</sup> | 6723 | 8404 |
| GP-Act III Acquisition Corp., Class B Warrants, Expires 5 years after initial business combination, Strike Price $11.50<sup>(c)(f)</sup> | 38411 | 6637 |
| Graf Global Corp, Expires with the closing of initial business combination, Strike Price $11.50<sup>(c)(f)(g)</sup> | 26200 | 4847 |
| GP-Act III Acquisition Corp., Expires 12/31/2027, Strike Price $11.50<sup>(f)</sup> | 42413 | 11867 |
| Graphjet Technology, Expires 11/16/2026, Strike Price $11.50<sup>(f)</sup> | 45714 | 1509 |
| HCM II Acquisition Corp., Expires 8/02/2029, Strike Price $11.50<sup>(f)</sup> | 7176 | 16505 |
| Healthcare AI Acquisition Corp., Expires 12/14/2026, Strike Price $11.50<sup>(f)</sup> | 18681 | 1693 |
| HHG Capital Corp., Expires 12/31/2027, Strike Price $11.50<sup>(f)</sup> | 17425 | 99 |
| HNR Acquisition Corp., Expires 11/15/2028, Strike Price $11.50<sup>(f)</sup> | 44874 | 2244 |
| Holdco Nuvo Group DG Ltd., Expires 05/01/2029, Strike Price $11.50<sup>(f)</sup> | 63179 | 32 |
| Hwh International Inc., Expires 02/02/2027, Strike Price $11.50<sup>(f)</sup> | 13297 | 641 |
| iCoreConnect Inc., Expires 05/15/2028, Strike Price $11.50<sup>(f)</sup> | 1112 | 15 |
| Inception Growth Acquisition, Ltd., Expires 10/15/2026, Strike Price $11.50<sup>(f)</sup> | 2402 | 449 |
| Integrated Rail and Resources Acquisition Corp., Expires 11/12/2026, Strike Price $11.50<sup>(f)</sup> | 48608 | 14582 |
| Integrated Wellness Acquisition Corp., Expires 10/31/2028, Strike Price $11.50<sup>(f)</sup> | 1475 | 30 |
| Investcorp Europe Acquisition Corp. I, Expires 11/23/2028, Strike Price $11.50<sup>(f)</sup> | 24645 | 246 |
| Investcorp India Acquisition Corp., Expires 06/28/2027, Strike Price $11.50<sup>(f)</sup> | 37472 | 1139 |
| Israel Acquisitions Corp., Expires 02/28/2028, Strike Price $11.50<sup>(f)</sup> | 35717 | 6108 |
| IX Acquisition Corp., Expires 11/24/2026, Strike Price $11.50<sup>(f)</sup> | 112 | 13 |
| Jaws Mustang Acquisition Corp., Expires 01/30/2026, Strike Price $11.50<sup>(f)</sup> | 19820 | 867 |
| Launch Two Acquisition Corp., Expires 10/09/2029, Strike Price $11.50<sup>(f)</sup> | 2140 | 1070 |
| LeddarTech Holdings Inc., Expires 12/21/2028, Strike Price $11.50<sup>(f)</sup> | 21521 | 124 |
| Lifezone Metals Ltd., Expires 07/05/2028, Strike Price $11.50<sup>(f)</sup> | 46340 | 17841 |
| Liminatus Pharma Inc., Expires 04/30/2030, Strike Price $11.50<sup>(f)</sup> | 27683 | 5622 |
| Live Oak Acquisition Corp. V, Expires 02/20/2030, Strike Price $11.50<sup>(f)</sup> | 24019 | 16213 |
| Melar Acquisition Corp I, Expires 6/10/2029, Strike Price $11.50<sup>(f)</sup> | 42372 | 8390 |
| Metal Sky Star Acquisition Corp., Expires 04/01/2027, Strike Price $11.50<sup>(f)</sup> | 40420 | 511 |
| MI7 Founders, LLC, Class A, Expires 5 years after closing, Strike Price $11.50<sup>(f)</sup> | 308194 | 419144 |
| MI7 Founders, LLC, Class Z, Expires 5 years after closing, Strike Price $11.50<sup>(f)</sup> | 102783 | 139785 |
| Mountain & Co. I Acquisition Corp., Expires 09/30/2026, Strike Price $11.50<sup>(f)</sup> | 62660 | 811 |
| Murano Global BV, Expires 03/30/2029, Strike Price $11.50<sup>(f)</sup> | 10493 | 2047 |
| Nemo Enterprises Inc., Expires 2/10/2035, Strike Price $1,000.00<sup>(f)(j)</sup> | 84 |  |
| New Horizon Aircraft Ltd., Expires 04/03/2028, Strike Price $11.50<sup>(f)</sup> | 11690 | 2572 |
| New Providence Acquisition Corp. III, Expires 04/24/2030, Strike Price $11.50<sup>(f)</sup> | 12247 | 6246 |
| NewGenIvf Group Ltd., Expires 06/26/2028, Strike Price $11.50<sup>(f)(j)</sup> | 1 |  |

---

Quarterly Report \| July 31, 2025 11

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| New Providence Holdings III, LLC, Expires with the closing of initial business combination, Strike Price $11.50<sup>(c)(f)</sup> | 166532 | $500 |
| NewHold Investment Corp II-A., Expires 04/17/2030, Strike Price $11.50<sup>(f)</sup> | 4085 | 1205 |
| NewHold Investment Corp III., Expires 5 years after initial business combination, Strike Price $11.50<sup>(c)(f)(j)</sup> | 5474 |  |
| Nogin, Inc., Expires 08/26/2027 Strike Price $11.50<sup>(f)</sup> | 8372 | 72 |
| Nvni Group Ltd., Expires 11/01/2028, Strike Price $11.50<sup>(f)</sup> | 15665 | 1211 |
| OSR Holdings Inc, Expires 02/29/2028, Strike Price $11.50<sup>(f)</sup> | 14638 | 681 |
| Papaya Growth Opportunity Corp. I, Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 76584 | 4304 |
| Patria Latin American Opportunity Acquisition Corp., Expires 03/10/2027, Strike Price $11.50<sup>(f)</sup> | 46145 | 1740 |
| Pearl Holdings Acquisition Corp., Expires 12/15/2026, Strike Price $11.50<sup>(f)</sup> | 18484 | 637 |
| Perimeter Acquisition Corp. I, Expires 05/13/2030, Strike Price $11.50<sup>(f)</sup> | 64869 | 38824 |
| Pinstripes Holdings Inc., Expires 09/30/2028, Strike Price $11.50<sup>(f)</sup> | 45560 | 431 |
| Plum Acquisition Corp IV, Expires 08/19/2029, Strike Price $11.50<sup>(f)</sup> | 8108 | 2129 |
| Pono Capital Two, Inc., Expires 10/17/2029, Strike Price $11.50<sup>(f)</sup> | 9738 | 1852 |
| Profusa Inc., Expires 08/02/2027, Strike Price $11.50<sup>(f)</sup> | 19197 | 3820 |
| Psyence Biomedical Ltd., Expires 01/25/2029, Strike Price $11.50<sup>(f)</sup> | 30398 | 824 |
| QT Imaging Holdings Inc., Expires 12/31/2028, Strike Price $11.50<sup>(f)</sup> | 3954 | 1095 |
| Real Asset Acquisition Corp., Expires 04/24/2030, Strike Price $11.50<sup>(f)</sup> | 110797 | 44319 |
| Real Messenger Corp., Expires 11/19/2029, Strike Price $11.50<sup>(f)</sup> | 31088 | 1554 |
| Relativity Acquisition Corp., Expires 02/11/2027, Strike Price $11.50<sup>(f)</sup> | 45142 | 2126 |
| Renatus Tactical Acquisition Corp. I, Expires 05/15/2030, Strike Price $11.50<sup>(f)</sup> | 6969 | 12056 |
| Republic Digital Acquisition Co, Expires 05/01/2030, Strike Price $11.50<sup>(f)</sup> | 125310 | 102128 |
| Rigel Resource Acquisition Corp., Expires 11/05/2026, Strike Price $11.50<sup>(f)</sup> | 15714 | 2789 |
| Rithm Acquisition Corp., Expires 12/30/2025, Strike Price $0.10<sup>(f)</sup> | 3070 | 1535 |
| Roadzen Inc., Expires 11/30/2028, Strike Price $11.50<sup>(f)</sup> | 55430 | 3597 |
| Roman DBDR Acquisition Corp II., Expires 10/31/2031, Strike Price $11.50<sup>(f)</sup> | 25605 | 12900 |
| Roth CH Acquisition Co., Expires 10/29/2028, Strike Price $11.50<sup>(f)</sup> | 48884 | 1711 |
| Ross Acquisition Corp. II, Expires 02/12/2026, Strike Price $11.50<sup>(f)</sup> | 28225 | 2546 |
| RRD Parent Inc., Expires 02/09/2035, Strike Price $0.01<sup>(f)</sup> | 19 | 121600 |
| Scage Future, Expires 06/30/2027, Strike Price $0.10<sup>(f)</sup> | 71462 | 3930 |
| Selina Hospitality PLC, Expires 10/25/2027, Strike Price $11.50<sup>(f)(j)</sup> | 218500 |  |
| SIM Acquisition Corp. I, Expires0 6/01/2031, Strike Price $11.50<sup>(f)</sup> | 15808 | 5217 |
| SMX Security Matters PLC, Expires 03/07/2028, Strike Price $18,975.00<sup>(f)</sup> | 36580 | 768 |
| Solidion Technology Inc., Expires 11/16/2026, Strike Price $11.50<sup>(f)</sup> | 29262 | 3804 |
| Southport Acquisition Corp., Expires 05/24/2028, Strike Price $11.50<sup>(f)</sup> | 6161 | 2156 |
| Spectaire Holdings Inc., Expires 10/17/2028, Strike Price $11.50<sup>(f)</sup> | 58258 | 251 |
| Spree Acquisition Corp. 1 Ltd., Expires 12/22/2028, Strike Price $11.50<sup>(f)</sup> | 20337 | 2 |
| Spring Valley Acquisition Corp. II, Expires 02/25/2026, Strike Price $11.50<sup>(f)</sup> | 13573 | 5293 |
| SpringBig Holdings, Inc., Expires 06/14/2027, Strike Price $11.50<sup>(f)</sup> | 24279 | 67 |
| Syntec Optics Holdings Inc., Expires 11/08/2026, Strike Price $11.50<sup>(f)</sup> | 27378 | 2738 |
| Target Global Acquisition I Corp., Expires 12/31/2027, Strike Price $11.50<sup>(f)</sup> | 18073 | 213 |
| Technology & Telecommunication Acquisition Corp., Expires 02/15/2027, Strike Price $11.50<sup>(f)</sup> | 52993 | 1563 |
| Titan Acquisition Sponsor Holdco, LLC, Expires 5 years after initial business combination, Strike Price $11.50<sup>(c)(f)</sup> | 117383 | 117383 |
| TLGY Acquisition Corp., Expires 01/14/2028, Strike Price $11.50<sup>(f)</sup> | 65630 | 59067 |
| TNL Mediagene, Expires 06/14/2028, Strike Price $11.50<sup>(f)</sup> | 16257 | 298 |
| Toyo Co Ltd., Expires 01/10/2029, Strike Price $11.50<sup>(f)</sup> | 23302 | 3147 |
| United Homes Group, Inc., Expires 01/28/2028, Strike Price $11.50<sup>(f)</sup> | 7770 | 7421 |
| Valuence Merger Corp. I, Expires 03/01/2027, Strike Price $11.50<sup>(f)</sup> | 60778 | 8929 |
| Vast Solar Pty Ltd., Expires 07/01/2028, Strike Price $11.50<sup>(f)</sup> | 87846 | 1143 |
| Volato Group Inc., Expires 12/03/2028, Strike Price $11.50<sup>(f)</sup> | 20757 | 356 |
| Verde Clean Fuels, Inc., Expires 12/31/2027, Strike Price $11.50<sup>(f)</sup> | 327 | 52 |
| Vertical Aerospace, Ltd. Class A Warrants, Expires 01/22/2030, Strike Price $11.50<sup>(c)(f)</sup> | 484471 | 2268623 |
| Vertical Aerospace, Ltd. Class B Warrants, Expires 01/22/2030, Strike Price $11.50<sup>(c)(f)</sup> | 484471 | 2145591 |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| VSee Health, Inc., Expires 11/04/2028, Strike Price $11.50<sup>(f)</sup> | 17198 | $952 |
| Western Acquisition Ventures Corp., Expires 01/12/2027, Strike Price $11.50<sup>(f)</sup> | 29980 | 1563 |
| Willow Lane Acquisition Corp., Expires 10/31/2031, Strike Price $11.50<sup>(f)</sup> | 62 | 36 |
| Yotta Acquisition Corp., Expires 03/15/2027, Strike Price $11.50<sup>(f)</sup> | 47369 | 1896 |
| Youlife Group Inc, Expires 07/10/2030, Strike Price $11.50<sup>(f)</sup> | 5841 | 702 |
| Zapata Computing Holdings Inc., Expires 03/23/2028, Strike Price $11.50<sup>(f)(j)</sup> | 24523 |  |
| Zapp Electric Vehicles Group L, Expires 03/03/2028, Strike Price $230.00<sup>(f)</sup> | 11642 | 17 |
| Zeo Energy Corp., Expires 03/14/2029, Strike Price $11.50<sup>(f)</sup> | 61116 | 2938 |
| Zoomcar Holdings Inc., Expires 07/01/2028, Strike Price $11.50<sup>(f)</sup> | 71432 | 644 |
| Zooz Power Ltd., Expires 04/04/2029, Strike Price $11.50<sup>(f)</sup> | 24349 | 2358 |
| ZyVersa Therapeutics Inc., Expires 12/12/2027, Strike Price $4,025.00<sup>(f)</sup> | 7099 | 498 |
| **TOTAL WARRANTS** |  | **6232040** |
| (Cost $1,877,044) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| **RIGHTS - 0.02%** |  |  |
| A SPAC II Acquisition Corp., Expires 12/31/2049<sup>(f)</sup> | 68843 | 1377 |
| Agrinam Acquisition Corp., Expires 12/31/2049<sup>(f)</sup> | 19798 | 396 |
| Broad Capital Acquisition Corp., Expires 01/13/2025<sup>(f)</sup> | 53360 | 10138 |
| ClimateRock, Expires 06/01/2027<sup>(f)</sup> | 23557 | 3936 |
| Consilium Acquisition Corp. I, Ltd., Expires 06/01/2027<sup>(f)</sup> | 69644 | 16018 |
| Hennessy Capital Investment Corp. VII, Expires 12/30/2025<sup>(f)</sup> | 14189 | 3901 |
| Inception Growth Acquisition, Ltd., Expires 01/21/2072<sup>(f)</sup> | 7394 | 1996 |
| K&F Growth Acquisition Corp. II, Expires 12/30/2025<sup>(f)</sup> | 8118 | 1056 |
| Mars Acquisition Corp., Expires 03/14/2073<sup>(f)</sup> | 40420 | 10408 |
| Metal Sky Star Acquisition Corp., Expires 12/31/2049<sup>(f)</sup> | 8917 | 1407 |
| RF Acquisition Corp., Expires 12/31/2049<sup>(f)</sup> | 84310 | 4422 |
| Sagaliam Acquisition Corp., Expires 12/31/2049<sup>(f)(j)</sup> | 27147 | 7601 |
| Welsbach Technology Metals Acquisition Corp., Expires 12/31/2049<sup>(f)</sup> | 29572 | 11459 |
| Yotta Acquisition Corp., Expires 12/31/2049<sup>(f)</sup> | 29452 | 5022 |
| **TOTAL RIGHTS** |  | **79137** |
| (Cost $83,526) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| **OPTIONS - 1.88%<sup>(k)</sup>** |  |  |
| **Put Option Contracts - 1.88%** |  |  |
| S&P 500 Index, Expires 07/31/2025, Strike Price $5,460<sup>(f)</sup> | 35 | 88 |
| S&P 500 Index, Expires 07/31/2025, Strike Price $5,465<sup>(f)</sup> | 38 | 95 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,705<sup>(f)</sup> | 3 | 690 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,720<sup>(f)</sup> | 3 | 930 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,755<sup>(f)</sup> | 8 | 2160 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,760<sup>(f)</sup> | 9 | 3600 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,770<sup>(f)</sup> | 17 | 7820 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,775<sup>(f)</sup> | 9 | 2520 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,780<sup>(f)</sup> | 9 | 3735 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,785<sup>(f)</sup> | 10 | 4200 |
| S&P 500 Index, Expires 08/15/2025, Strike Price $5,790<sup>(f)</sup> | 13 | 3705 |

---

Quarterly Report \| July 31, 2025 13

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Contracts** | **Fair Value** |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,845<sup>(f)</sup> | 17 | $41565 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,855<sup>(f)</sup> | 21 | 51324 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,860<sup>(f)</sup> | 64 | 154560 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,870<sup>(f)</sup> | 11 | 31845 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,875<sup>(f)</sup> | 18 | 42624 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,880<sup>(f)</sup> | 57 | 194085 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,885<sup>(f)</sup> | 22 | 75900 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,890<sup>(f)</sup> | 11 | 48070 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,950<sup>(f)</sup> | 14 | 59276 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,955<sup>(f)</sup> | 25 | 102500 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,965<sup>(f)</sup> | 23 | 96485 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,975<sup>(f)</sup> | 14 | 47726 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,985<sup>(f)</sup> | 18 | 58752 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $5,995<sup>(f)</sup> | 11 | 48730 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $6,000<sup>(f)</sup> | 12 | 55212 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $6,005<sup>(f)</sup> | 26 | 106080 |
| S&P 500 Index, Expires 09/19/2025, Strike Price $6,015<sup>(f)</sup> | 16 | 72160 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,050<sup>(f)</sup> | 12 | 95640 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,060<sup>(f)</sup> | 12 | 96960 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,085<sup>(f)</sup> | 7 | 49189 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,090<sup>(f)</sup> | 8 | 64480 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,100<sup>(f)</sup> | 17 | 152150 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,120<sup>(f)</sup> | 91 | 828100 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,125<sup>(f)</sup> | 7 | 60529 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,140<sup>(f)</sup> | 74 | 690568 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,145<sup>(f)</sup> | 62 | 592410 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,150<sup>(f)</sup> | 66 | 536580 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,165<sup>(f)</sup> | 89 | 857960 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,185<sup>(f)</sup> | 46 | 434240 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,205<sup>(f)</sup> | 35 | 376600 |
| S&P 500 Index, Expires 10/17/2025, Strike Price $6,240<sup>(f)</sup> | 11 | 125840 |
| S&P 500 Index, Expires 11/21/2025, Strike Price $6,305<sup>(f)</sup> | 25 | 338750 |
| S&P 500 Index, Expires 11/21/2025, Strike Price $6,310<sup>(f)</sup> | 25 | 342001 |
|  |  | 6958434 |
| **TOTAL OPTIONS** |  | **6958434** |
| (Premiums paid $15,051,803) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **MONEY MARKET FUNDS - 4.68%** | | |
| BNY Mellon U.S. Treasury Fund, 7 Day Yield, 4.150%<sup>(g)(h)</sup> | 12728256 | 12728256 |
| JPMorgan US Treasury Plus Money Market Fund, 7 Day Yield, 4.190% | 4608944 | 4608944 |
| **TOTAL MONEY MARKET FUNDS** |  | **17337200** |
| (Cost $17,337,200) |  |  |
| Total Investments in Securities - 103.74% |  | **383947460** |
| (Cost $351,492,102) |  |  |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**INVESTMENT IN AFFILIATED FUND**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Saba Capital Income & Opportunities Fund II<sup>(f)</sup> | 85919 | $800764 |
| Total Investment in Affiliated Fund - 0.22% |  | **800764** |
| (Cost $652,160) |  |  |
| Other Liabilities in Excess of Assets - (3.96%) |  | (14648850) |
| **NET ASSETS - 100.00%** |  | $**370099374** |
| *Amounts above are shown as a percentage of net assets as of July 31, 2025.* | *Amounts above are shown as a percentage of net assets as of July 31, 2025.* |  |

---

**SCHEDULE OF SECURITIES SOLD SHORT**

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **CORPORATE BONDS - (4.95%)** |  |  |
| **Consumer Discretionary - (3.29%)** |  |  |
| Biocon Biologics Global PLC, 6.670%, 10/09/2029 | (7288000) | (6887284) |
| Star Parent Inc., 9.000%, 10/01/2030 | (5007000) | (5282385) |
|  |  | **(12169669)** |
| **Industrials - (1.00%)** |  |  |
| Icahn Enterprises LP/Icahn Enterprises Finance Corporation, 4.375%, 02/01/2029 | (696001) | (597690) |
| Icahn Enterprises LP/Icahn Enterprises Finance Corporation, 5.250%, 05/15/2027 | (3169001) | (3097697) |
|  |  | **(3695387)** |
| **Real Estate - (0.66%)** |  |  |
| CPI Property Group SA, 1.750%, 01/14/2030<sup>(e)</sup> | (2462000) | (2461283) |
|  |  | **(2461283)** |
| **TOTAL CORPORATE BONDS** |  | **(18326339)** |
| (Proceeds $17,872,822) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Fair Value** |
| **SOVEREIGN DEBT OBLIGATIONS - (57.58%)** |  |  |
| **Sovereign - (57.58%)** |  |  |
| United States Treasury, 3.750%, 06/30/2027 | $(46658000) | (46470277) |
| United States Treasury, 3.875%, 06/30/2030 | (73541000) | (73220692) |
| United States Treasury, 4.250%, 05/15/2035 | (94386000) | (93420016) |
| **TOTAL SOVEREIGN DEBT OBLIGATIONS** |  | **(213110985)** |
| (Proceeds $212,868,064) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **COMMON STOCK - (13.82%)** |  |  |
| **Communications - (3.07%)** |  |  |
| Alphabet Inc., Class A Common Shares | (2773) | (532139) |
| Alphabet Inc., Class C Common Shares | (8827) | (1702375) |
| Angi Inc.<sup>(f)</sup> | (3495) | (56689) |
| Cogent Communications Holdings Inc.<sup>(f)</sup> | (933) | (42535) |

---

Quarterly Report \| July 31, 2025 15

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Delivery Hero SE<sup>(b)(f)</sup> | (4959) | $(147083) |
| DoorDash, Inc.<sup>(f)</sup> | (2883) | (721471) |
| Formula One Group<sup>(f)</sup> | (1062) | (106572) |
| IAC Inc.<sup>(f)</sup> | (2515) | (98840) |
| Liberty Latin America Ltd.<sup>(f)</sup> | (13614) | (97204) |
| Live Nation Entertainment Inc.<sup>(f)</sup> | (344) | (50809) |
| Meta Platforms, Inc. | (1866) | (1443239) |
| NetEase, Inc. | (2396) | (312199) |
| Netflix, Inc.<sup>(f)</sup> | (573) | (664336) |
| News Corp.<sup>(f)</sup> | (3582) | (105024) |
| Pinterest, Inc.<sup>(f)</sup> | (6644) | (256458) |
| Reddit Inc.<sup>(f)</sup> | (89) | (14293) |
| ROBLOX Corp.<sup>(f)</sup> | (3918) | (539861) |
| Roku Inc.<sup>(f)</sup> | (1128) | (106212) |
| Spotify Technology SA.<sup>(f)</sup> | (779) | (488075) |
| System1 Inc.<sup>(f)</sup> | (4764) | (29630) |
| The Trade Desk, Inc.<sup>(f)</sup> | (3234) | (281229) |
| The Walt Disney Company<sup>(f)</sup> | (1458) | (173662) |
| Uber Technologies Inc.<sup>(f)</sup> | (78) | (6844) |
| Universal Music Group NV | (106699) | (3090395) |
| Vimeo Inc.<sup>(f)</sup> | (22523) | (85362) |
| Zillow Group, Inc.<sup>(f)</sup> | (2725) | (216774) |
|  |  | **(11369310)** |
| **Consumer Discretionary - (2.46%)** |  |  |
| Alibaba Group Holding, Ltd. | (2176) | (262491) |
| Amazon.com, Inc.<sup>(f)</sup> | (8060) | (1886927) |
| Chegg, Inc.<sup>(f)</sup> | (14927) | (19554) |
| Chewy Inc.<sup>(f)</sup> | (3625) | (133038) |
| Chipotle Mexican Grill, Inc.<sup>(f)</sup> | (19841) | (850782) |
| Cie Financiere Richemont SA<sup>(f)</sup> | (3105) | (509950) |
| Coupang Inc.<sup>(f)</sup> | (2618) | (77048) |
| D'ieteren Group<sup>(f)</sup> | (469) | (93022) |
| DraftKings Inc.<sup>(f)</sup> | (5981) | (269384) |
| Ferrari N.V.<sup>(f)</sup> | (162) | (71829) |
| Hilton Worldwide Holdings Inc. | (4384) | (1175263) |
| JD.com Inc. | (3742) | (117836) |
| Lowe's Cos Inc. | (28) | (6260) |
| MercadoLibre, Inc.<sup>(f)</sup> | (196) | (465282) |
| Moncler SpA<sup>(f)</sup> | (1028) | (55068) |
| NIKE Inc.<sup>(f)</sup> | (15559) | (1162102) |
| PDD Holdings Inc.<sup>(f)</sup> | (1036) | (117534) |
| Prosus NV<sup>(f)</sup> | (412) | (23622) |
| Restaurant Brands International Inc. | (18890) | (1281875) |
| Rivian Automotive, Inc.<sup>(f)</sup> | (911) | (11725) |
| Sweetgreen, Inc.<sup>(f)</sup> | (4989) | (64258) |
| Tesla, Inc.<sup>(f)</sup> | (55) | (16955) |
| The Home Depot, Inc. | (671) | (246599) |
| Wayfair Inc.<sup>(f)</sup> | (1942) | (127473) |
| YETI Holdings Inc.<sup>(f)</sup> | (1348) | (49526) |
|  |  | **(9095403)** |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **Consumer Staples - (0.13%)** |  |  |
| Heineken Holding NV | (3343) | $(226613) |
| Heineken NV | (2850) | (224612) |
| The Clorox Company<sup>(f)</sup> | (296) | (37166) |
|  |  | **(488391)** |
| **Energy - (0.66%)** |  |  |
| Antero Midstream Corp. | (1026) | (18827) |
| Archrock, Inc. | (598) | (13969) |
| Civitas Resources, Inc. | (386) | (11719) |
| DT Midstream, Inc. | (211) | (21676) |
| Enbridge, Inc. | (4235) | (191791) |
| Energy Transfer LP | (23653) | (426700) |
| Enterprise Products Partners LP | (11026) | (341696) |
| Genesis Energy LP | (1072) | (18610) |
| Hess Midstream LP<sup>(f)</sup> | (3977) | (173119) |
| Kinder Morgan, Inc. | (2441) | (68494) |
| MPLX LP | (7991) | (419528) |
| Neste Oyj | (1283) | (20257) |
| Occidental Petroleum Corp. | (508) | (22322) |
| ONEOK Inc. | (931) | (76444) |
| Pembina Pipeline Corp. | (477) | (17729) |
| Plains All American Pipeline LP | (2102) | (38362) |
| Plains GP Holdings LP | (2858) | (56017) |
| Schlumberger NV<sup>(f)</sup> | (1344) | (45427) |
| Targa Resources Corp. | (416) | (69227) |
| TC Energy Corp. | (2185) | (104330) |
| Western Midstream Partners LP | (3484) | (141903) |
| Williams Cos., Inc. | (2164) | (129732) |
|  |  | **(2427879)** |
| **Financials - (1.71%)** |  |  |
| Adyen NV<sup>(f)</sup> | (54) | (93090) |
| Affirm Holdings Inc.<sup>(f)</sup> | (5421) | (371664) |
| Allfunds Group PLC | (687) | (4782) |
| American Express Co. | (1352) | (404667) |
| Apollo Global Management Inc.<sup>(f)</sup> | (532) | (77310) |
| Bank of America Corp. | (7596) | (359063) |
| Block Inc.<sup>(f)</sup> | (2948) | (227762) |
| Brookfield Corp.<sup>(f)</sup> | (29835) | (2000437) |
| CME Group Inc. | (1094) | (304438) |
| Corpay Inc.<sup>(f)</sup> | (124) | (40058) |
| Credicorp Ltd. | (1358) | (321846) |
| EXOR NV<sup>(f)</sup> | (336) | (32497) |
| Intercontinental Exchange, Inc. | (1546) | (285747) |
| Marsh & McLennan Cos Inc. | (495) | (98604) |
| MasterCard Inc. | (1312) | (743209) |
| MSCI Inc.<sup>(f)</sup> | (78) | (43786) |
| Paysafe Ltd.<sup>(f)</sup> | (7850) | (95378) |
| Robinhood Markets Inc.<sup>(f)</sup> | (1497) | (154266) |
| The Progressive Corporation | (205) | (49618) |

---

Quarterly Report \| July 31, 2025 17

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Tradeweb Markets Inc.<sup>(f)</sup> | (436) | $(60408) |
| U.S. Bancorp | (1077) | (48422) |
| Visa Inc. | (1298) | (448420) |
| Webster Financial Corp.<sup>(f)</sup> | (1220) | (70333) |
|  |  | **(6335805)** |
| **Health Care - (0.95%)** |  |  |
| 10X Genomics Inc.<sup>(f)</sup> | (2482) | (33383) |
| Agios Pharmaceuticals Inc.<sup>(f)</sup> | (1073) | (39937) |
| Alnylam Pharmaceuticals, Inc.<sup>(f)</sup> | (935) | (366744) |
| Argenx SE<sup>(f)</sup> | (229) | (155338) |
| Bayer AG | (687) | (21274) |
| Boston Scientific Corp.<sup>(f)</sup> | (2213) | (232188) |
| Denali Therapeutics Inc.<sup>(f)</sup> | (4930) | (68182) |
| Edwards Lifesciences Corp.<sup>(f)</sup> | (841) | (66700) |
| Eli Lilly and Company<sup>(f)</sup> | (191) | (141353) |
| Exact Sciences Corp.<sup>(f)</sup> | (616) | (28921) |
| GE HealthCare Technologies Inc. | (1722) | (122813) |
| Genmab A/S<sup>(f)</sup> | (102) | (22417) |
| Guardant Health Inc.<sup>(f)</sup> | (2561) | (104950) |
| HCA Healthcare Inc.<sup>(f)</sup> | (338) | (119649) |
| Illumina, Inc.<sup>(f)</sup> | (121) | (12428) |
| Incyte Corp.<sup>(f)</sup> | (610) | (45683) |
| Insmed Inc.<sup>(f)</sup> | (388) | (41625) |
| Inspire Medical Systems Inc.<sup>(f)</sup> | (676) | (84189) |
| Insulet Corp.<sup>(f)</sup> | (758) | (218607) |
| Integer Holdings Corp.<sup>(f)</sup> | (340) | (36893) |
| Intuitive Surgical Inc.<sup>(f)</sup> | (284) | (136630) |
| Ionis Pharmaceuticals Inc.<sup>(f)</sup> | (3451) | (148324) |
| McKesson Corp.<sup>(f)</sup> | (70) | (48548) |
| Moderna, Inc.<sup>(f)</sup> | (5458) | (161338) |
| Natera Inc.<sup>(f)</sup> | (321) | (42905) |
| Neurocrine Biosciences Inc.<sup>(f)</sup> | (956) | (122588) |
| PACIRA BIOSCIENCES INC.<sup>(f)</sup> | (202) | (4260) |
| Penumbra Inc.<sup>(f)</sup> | (332) | (83754) |
| Recordati Industria Chimica e Farmaceutica SpA<sup>(f)</sup> | (785) | (45150) |
| Revolution Medicines Inc.<sup>(f)</sup> | (1316) | (49047) |
| RxSight Inc.<sup>(f)</sup> | (2943) | (22897) |
| SI-BONE Inc.<sup>(f)</sup> | (2521) | (42933) |
| Stryker Corp. | (310) | (121746) |
| Tandem Diabetes Care Inc.<sup>(f)</sup> | (761) | (11856) |
| Tenet Healthcare Corp.<sup>(f)</sup> | (397) | (64028) |
| The Ensign Group, Inc. | (481) | (72150) |
| Thermo Fisher Scientific Inc.<sup>(f)</sup> | (158) | (73893) |
| UnitedHealth Group Inc.<sup>(f)</sup> | (457) | (114049) |
| Vertex Pharmaceuticals Inc.<sup>(f)</sup> | (393) | (179550) |
|  |  | **(3508920)** |
| **Industrials - (1.32%)** |  |  |
| Aerovironment Inc.<sup>(f)</sup> | (1) | (268) |
| Aker ASA<sup>(f)</sup> | (922) | (63585) |
| Alight, Inc. | (130829) | (701243) |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| AMETEK Inc.<sup>(f)</sup> | (304) | $(56194) |
| Atkore Inc.<sup>(f)</sup> | (682) | (52528) |
| Bilfinger SE | (112) | (12091) |
| Blade Air Mobility Inc.<sup>(f)</sup> | (24246) | (96742) |
| Canadian Pacific Kansas City Ltd. | (11809) | (868552) |
| Clean Harbors Inc.<sup>(f)</sup> | (210) | (49520) |
| Deere & Co. | (148) | (77607) |
| Dun & Bradstreet Holdings, Inc. | (197214) | (1794647) |
| Equifax Inc.<sup>(f)</sup> | (234) | (56214) |
| Exponent Inc.<sup>(f)</sup> | (561) | (38687) |
| Geberit AG<sup>(f)</sup> | (77) | (59154) |
| Generac Holdings, Inc.<sup>(f)</sup> | (46) | (8956) |
| Genpact Ltd.<sup>(f)</sup> | (1313) | (57838) |
| Graco Inc. | (610) | (51228) |
| HEICO Corp. | (264) | (86275) |
| Interpump Group S.p.A | (248) | (10177) |
| Paycom Software Inc.<sup>(f)</sup> | (176) | (40751) |
| Prysmian S.p.A | (338) | (27147) |
| L3Harris Technologies Inc.<sup>(f)</sup> | (368) | (101134) |
| Leonardo DRS Inc.<sup>(f)</sup> | (1663) | (69181) |
| Norfolk Southern Corp.<sup>(f)</sup> | (160) | (44480) |
| Rational AG<sup>(f)</sup> | (88) | (68340) |
| Rollins Inc.<sup>(f)</sup> | (827) | (47362) |
| SGS SA<sup>(f)</sup> | (429) | (43732) |
| Union Pacific Corp.<sup>(f)</sup> | (237) | (52607) |
| Verisk Analytics Inc.<sup>(f)</sup> | (185) | (51561) |
| Vicor Corp.<sup>(f)</sup> | (1029) | (45729) |
| Watsco Inc. | (325) | (146536) |
|  |  | **(4880066)** |
| **Information Technology - (0.62%)** |  |  |
| Amphenol Corp.<sup>(f)</sup> | (1258) | (133990) |
| Arlo Technologies Inc.<sup>(f)</sup> | (5730) | (92826) |
| ASM International NV<sup>(f)</sup> | (59) | (28784) |
| Astera Labs Inc.<sup>(f)</sup> | (229) | (31311) |
| Aurora Innovation Inc.<sup>(f)</sup> | (24298) | (141171) |
| AvePoint Inc.<sup>(f)</sup> | (3657) | (69776) |
| Celestica Inc.<sup>(f)</sup> | (2386) | (476866) |
| CEVA Inc.<sup>(f)</sup> | (1678) | (35859) |
| Cognizant Technology Solutions Corp.<sup>(f)</sup> | (494) | (35449) |
| Coherent Corp.<sup>(f)</sup> | (269) | (28944) |
| Confluent Inc.<sup>(f)</sup> | (1636) | (28998) |
| GoDaddy Inc.<sup>(f)</sup> | (321) | (51867) |
| Harmonic Inc.<sup>(f)</sup> | (4102) | (34908) |
| Kulicke & Soffa Industries Inc.<sup>(f)</sup> | (1178) | (38591) |
| Littelfuse Inc.<sup>(f)</sup> | (160) | (41173) |
| Marvell Technology Inc. | (72) | (5787) |
| Micron Technology Inc. | (297) | (32415) |
| Nemetschek SE<sup>(f)</sup> | (274) | (40743) |
| Oracle Corp. | (607) | (154038) |
| Pure Storage Inc.<sup>(f)</sup> | (362) | (21546) |
| Qualys Inc.<sup>(f)</sup> | (646) | (85963) |

---

Quarterly Report \| July 31, 2025 19

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Red Violet Inc.<sup>(f)</sup> | (671) | $(29745) |
| Sabre Corp.<sup>(f)</sup> | (11971) | (36272) |
| Samsara Inc.<sup>(f)</sup> | (4624) | (175851) |
| Sprout Social Inc.<sup>(f)</sup> | (1151) | (19740) |
| Super Micro Computer Inc.<sup>(f)</sup> | (3556) | (209697) |
| Synopsys Inc.<sup>(f)</sup> | (54) | (34207) |
| Trimble Inc.<sup>(f)</sup> | (608) | (51005) |
| Veeco Instruments Inc.<sup>(f)</sup> | (902) | (18744) |
| VeriSign Inc.<sup>(f)</sup> | (335) | (90071) |
|  |  | **(2276337)** |
| **Materials - (0.33%)** |  |  |
| Agnico Eagle Mines Ltd.<sup>(f)</sup> | (1183) | (146859) |
| Alamos Gold Inc.<sup>(f)</sup> | (8333) | (202491) |
| Anglogold Ashanti plc<sup>(f)</sup> | (1022) | (47268) |
| B2Gold Corp.<sup>(f)</sup> | (16258) | (54678) |
| CRH plc<sup>(f)</sup> | (531) | (50684) |
| DSM-Firmenich AG<sup>(f)</sup> | (1058) | (102049) |
| Orla Mining Ltd.<sup>(f)</sup> | (52028) | (484383) |
| Teck Resources Ltd.<sup>(f)</sup> | (4223) | (137079) |
|  |  | **(1225491)** |
| **Real Estate - (0.39%)** |  |  |
| CoStar Group Inc.<sup>(f)</sup> | (2905) | (276527) |
| Crown Castle Inc.<sup>(f)</sup> | (507) | (53281) |
| Lineage Inc.<sup>(f)</sup> | (1425) | (61489) |
| Prologis Inc.<sup>(f)</sup> | (336) | (35878) |
| The Howard Hughes Corporation<sup>(f)</sup> | (14695) | (1009987) |
|  |  | **(1437162)** |
| **Technology - (2.04%)** |  |  |
| Arista Networks, Inc.<sup>(f)</sup> | (814) | (100301) |
| ASML Holding NV | (233) | (163023) |
| BE Semiconductor Industries NV | (1112) | (151140) |
| Blackline Inc.<sup>(f)</sup> | (32) | (1721) |
| Cloudflare, Inc.<sup>(f)</sup> | (4717) | (979627) |
| Datadog Inc.<sup>(f)</sup> | (1033) | (144599) |
| Descartes Systems Group, Inc.<sup>(f)</sup> | (313) | (33069) |
| Descartes Systems Group, Inc.<sup>(f)</sup> | (1858) | (109158) |
| Doximity Inc.<sup>(f)</sup> | (837) | (290062) |
| Fabrinet<sup>(f)</sup> | (842) | (272581) |
| HubSpot, Inc.<sup>(f)</sup> | (91) | (47288) |
| Inficon Holding AG | (97) | (11751) |
| Infosys Ltd. | (8959) | (149794) |
| KLA CORP.<sup>(f)</sup> | (135) | (118669) |
| Microsoft Corp. | (654) | (348909) |
| MongoDB Inc.<sup>(f)</sup> | (83) | (19745) |
| Monolithic Power Systems Inc. | (54) | (38407) |
| NVIDIA Corp. | (1303) | (231765) |
| Pegasystems Inc. | (3146) | (184702) |
| Rapid7, Inc.<sup>(f)</sup> | (1135) | (23971) |
| Salesforce Inc. | (525) | (135623) |
| ServiceNow, Inc.<sup>(f)</sup> | (69) | (65075) |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| Shopify, Inc.<sup>(f)</sup> | (5642) | $(689120) |
| Snowflake Inc.<sup>(f)</sup> | (1308) | (292338) |
| SPS Commerce Inc.<sup>(f)</sup> | (240) | (26128) |
| Taiwan Semiconductor Manufacturing Co., Ltd. | (10965) | (2649363) |
| Varonis Systems Inc.<sup>(f)</sup> | (1416) | (79055) |
| Workday, Inc.<sup>(f)</sup> | (817) | (187403) |
|  |  | **(7544387)** |
| **Utilities - (0.14%)** |  |  |
| AES Corp. | (966) | (12703) |
| Ameren Corp. | (169) | (17091) |
| CenterPoint Energy, Inc. | (300) | (11646) |
| Clearway Energy Inc.<sup>(f)</sup> | (3247) | (105950) |
| CMS Energy Corp.<sup>(f)</sup> | (321) | (23690) |
| DTE Energy Co. | (277) | (38340) |
| Enel SpA | (10424) | (91991) |
| Evergy Inc.<sup>(f)</sup> | (536) | (37949) |
| Eversource Energy | (54) | (3569) |
| NextEra Energy Partners LP | (1951) | (18593) |
| Ormat Technologies Inc.<sup>(f)</sup> | (561) | (50159) |
| Sempra<sup>(f)</sup> | (660) | (53908) |
| Vistra Corp.<sup>(f)</sup> | (403) | (84041) |
| Xcel Energy, Inc. | (44) | (3157) |
|  |  | **(552787)** |
| **TOTAL COMMON STOCK** |  | **(51141938)** |
| (Proceeds $48,250,016) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **CLOSED END FUNDS - (0.51%) <br> Equity - (0.51%)** |  |  |
| Communication Services Select Sector SPDR Fund<sup>(f)</sup> | (9166) | (984520) |
| Energy Select Sector SPDR Fund<sup>(f)</sup> | (64) | (5581) |
| Industrial Select Sector SPDR Fund<sup>(f)</sup> | (624) | (94854) |
| Utilities Select Sector SPDR Fund<sup>(f)</sup> | (9223) | (790134) |
|  |  | **(1875089)** |
| **TOTAL CLOSED END FUNDS** |  | **(1875089)** |
| (Proceeds $1,812,488) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **EXCHANGE TRADED FUNDS - (21.08%) <br> Alternative - (5.40%)** |  |  |
| Grayscale Bitcoin Mini Trust B<sup>(f)</sup> | (54060) | (2794902) |
| Grayscale Bitcoin Trust<sup>(f)(g)</sup> | (186747) | (17139640) |
|  |  | **(19934542)** |

---

Quarterly Report \| July 31, 2025 21

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **Equity - (15.69%)** |  |  |
| Global X Uranium ETF<sup>(F)</sup> | (5931) | $(233444) |
| iShares Biotechnology ETF<sup>(f)</sup> | (24089) | (3198056) |
| iShares Core MSCI Emerging Markets ETF<sup>(f)</sup> | (50175) | (3027058) |
| iShares Global Infrastructure ETF<sup>(f)</sup> | (6689) | (395186) |
| iShares MSCI ACWI ETF | (80472) | (10458141) |
| iShares MSCI India ETF<sup>(f)</sup> | (80577) | (4241573) |
| VanEck Gold Miners ETF<sup>(f)</sup> | (3157) | (163027) |
| Vanguard FTSE Developed Markets ETF<sup>(f)</sup> | (208179) | (11703823) |
| Vanguard FTSE Emerging Markets ETF<sup>(f)</sup> | (291888) | (14536022) |
| Vanguard Total Stock Market ETF | (32534) | (10114495) |
|  |  | **(58070825)** |
| **TOTAL EXCHANGE TRADED FUNDS** |  | **(78005367)** |
| (Proceeds $75,116,246) |  |  |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Fair Value** |
| **SPECIAL PURPOSE ACQUISITION COMPANIES - (0.20%)** |  |  |
| Accenture PLC | (236) | (63036) |
| Credo Technology Group Holding Ltd.<sup>(f)</sup> | (437) | (48747) |
| CyberArk Software Ltd.<sup>(f)</sup> | (422) | (173640) |
| Globant SA<sup>(f)</sup> | (629) | (53000) |
| JFrog Ltd.<sup>(f)</sup> | (1294) | (56173) |
| monday.com Ltd.<sup>(f)</sup> | (216) | (56655) |
| Radware Ltd.<sup>(f)</sup> | (3751) | (96026) |
| SharkNinja Inc.<sup>(f)</sup> | (1203) | (139668) |
| Trane Technologies plc<sup>(f)</sup> | (161) | (70531) |
|  |  | **(757476)** |
| **TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES** |  | **(757476)** |
| (Proceeds $749,526) |  |  |
| Total Securities Sold Short - (98.14%) |  | **(363217194)** |
| (Proceeds $356,669,162) |  |  |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

*<sup>(a)</sup>* *Security is in default as of year-end and is therefore non-income producing.*

*<sup>(b)</sup>* *Security exempt from registration under Rule 144A of the Securities Act of 1933 (the "Securities Act"). Total market value of Rule 144A securities amounts to $23,165,670, which represented approximately 6.26% of net assets as of July 31, 2025. Such securities may normally be sold to qualified institutional buyers in transactions exempt from registration.*

*<sup>(c)</sup>* *Level 3 assets valued using significant unobservable inputs as a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.*

*<sup>(d)</sup>* *Amount represents less than 0.005% of net assets.*

*<sup>(e)</sup>* *Securities were originally issued pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. As of July 31, 2025, the aggregate market value of those securities was $3,691,584, which represents approximately 1.00% of net assets.*

*<sup>(f)</sup>* *Non-income producing security.*

*<sup>(g)</sup>* *A portion or all of the security is owned by BRW SPV I, a wholly-owned subsidiary of the Fund.*

*<sup>(h)</sup>* *A portion or all of the security is owned by BRW SPV II, a wholly-owned subsidiary of the Fund.*

*<sup>(i)</sup>* *The security is a floating rate note which has an annual interest rate, reset monthly, that is calculated by taking the product of a leverage multiplier and (USISDA30 - USISDA02). At July 31, 2025, the current coupon rate for these notes is 0%.*

*<sup>(j)</sup>* *At July 31, 2025, the value of these investments amounted to $0, representing 0.0% of the net assets of the Fund.*

*<sup>(k)</sup>* *At July 31, 2025, all options held by the Fund are exchange traded listed options.*

**Investment Abbreviations:**

ESTRON - Euro Short-Term Rate

OBFR - United States Overnight Bank Funding Rate

RBACOR - RBA Interbank Overnight Cash Rate

SOFR - Secured Overnight Financing Rate

SONIA - Sterling Over Night Index Average

**Reference Rates:**

ESTRON - Euro Short-Term Rate as of July 31, 2025 was 1.919%

OBFR - United States Overnight Bank Funding Rate as of July 31, 2025 was 4.330%

SOFR - Secured Overnight Financing Rate as of July 31, 2025 was 4.390%

TSFR1M - CME Term SOFR 1 Month as of July 31, 2025 was 4.351%

TSFR3M - CME Term SOFR 3 Month as of July 31, 2025 was 4.301%

TSFR6M - CME Term SOFR 6 Month as of July 31, 2025 was 4.191%

SONIA - Sterling Overnight Index Average as of July 31, 2025 was 4.217%

**Counterparty Abbreviations:**

JPM - JPMorgan Chase Bank, N.A.

GSI - Goldman Sachs International

MSCS - Morgan Stanley Capital Services

BARC - Barclays Bank PLC

MSCO – Morgan Stanley & Company

**Currency Abbreviations:**<br> AUD - Australian Dollar<br> CAD - Canadian Dollar<br> CHF - Swiss Franc

DKK - Danish Krone

EUR - Eurozone Currency<br> GBP - Great British Pound<br> JPY - Japanese Yen

NOK - Norwegian Krone<br> SEK - Swedish Krona

USD - United States Dollar

Quarterly Report \| July 31, 2025 23

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**SIMPLE AGREEMENT FOR FUTURE EQUITY (SAFE) CONTRACTS**

---

| | | |
|:---|:---|:---|
| | **Cost** | **Fair Value** |
| AEYE Health Inc.<sup>(a)</sup> | $1293014 | $1649219 |
| BeeHero Ltd.<sup>(a)</sup> | 321841 | 371758 |
| Nemo Enterprises, Inc.<sup>(a)</sup> | 84210 | 84210 |
| Quantalx Neuroscience Ltd.<sup>(a)</sup> | 3000000 | 3415840 |
| Real View Imaging Ltd.<sup>(a)</sup> | 2250000 | 2303475 |
|  | $6949065 | $7824502 |

---

*<sup>(a)</sup>* *Level 3 assets valued using significant unobservable inputs as a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.*

**FORWARD FOREIGN CURRENCY CONTRACTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Counterparty** | **Settlement**<br>**Date** | **Fund**<br>**Receiving** |<br>**Value** | **Fund**<br>**Delivering** |<br>**Cost** | **Unrealized**<br>**Appreciation** |
| JPM | 10/09/2025 | USD | $13212974 | AUD | $13062778 | $150196 |
| JPM | 10/09/2025 | USD | 220723 | CAD | 217227 | 3496 |
| JPM | 09/26/2025 | USD | 41705796 | EUR | 40867816 | 837980 |
| JPM | 09/26/2025 | USD | 39345400 | GBP | 38770248 | 575152 |
| JPM | 10/09/2025 | USD | 730675 | JPY | 708318 | 22357 |
| JPM | 10/09/2025 | USD | 5149740 | SEK | 4986707 | 163033 |
|  |  |  |  |  |  | $1752214 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Counterparty** | **Settlement**<br>**Date** | **Fund**<br>**Receiving** |<br>**Value** | **Fund**<br>**Delivering** |<br>**Cost** | **Unrealized**<br>**Depreciation** |
| JPM | 10/09/2025 | AUD | $611312 | USD | $620541 | $(9229) |
| JPM | 10/09/2025 | CAD | 651681 | USD | 658117 | (6436) |
| JPM | 09/26/2025 | EUR | 30353059 | USD | 30846292 | (493233) |
| JPM | 09/26/2025 | GBP | 54313200 | USD | 55998256 | (1685056) |
|  |  |  |  |  |  | $(2193954) |
|  |  |  |  |  |  | $(441740) |

---

**FUTURES CONTRACTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of <br> Contracts** | **Maturity**<br> **Date** | **Notional <br> Amount** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Short Position Contracts** |  |  |  |  |
| FTSE 100 IDX FUT Sep 25 | (2) | 09/19/2025 | $239947 | $(9341) |
| FTSE 250 Index FU Sep 25 | (152) | 09/19/2025 | $8856534 | (261709) |
| NASDAQ 100 E-MINI Sep 25 | (12) | 09/19/2025 | $5248750 | (358850) |
| NIKKEI 225 (OSE) Sep 25 | (1) | 09/12/2025 | $267348 | (16179) |
| SPI 200 FUTURES Sep 25 | (12) | 09/18/2025 | $1668251 | (31835) |
| US 5YR NOTE (CBT) Sep 25 | (82) | 09/30/2025 | 8847657 | (22436) |
| US 10YR NOTE (CBT) Sep 25 | (46) | 09/19/2025 | 5133017 | 24142 |
|  |  |  |  | $(676208) |
|  |  |  |  | $(676208) |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**TO BE ANNOUNCED (TBA) MORTGAGE-BACKED SECURITIES (MBS) FORWARD CONTRACTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Maturity**<br> **Date** | **Notional**<br> **Amount** | **Net Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
| JPM | FNCL 5.5 9/25 TBA MSFTA | 09/11/2025 | $264602000 | $413441 |
| JPM | FNCL 6 9/25 TBA MSFTA | 09/11/2025 | 105628000 | 165044 |
|  |  |  |  | $578485 |

---

**SINGLE NAME CREDIT DEFAULT SWAP CONTRACTS (CENTRALLY CLEARED)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Buy/Sell**<br> **Protection<sup>(a)</sup>** | **Reference Obligations** | **Annual**<br> **Payment**<br> **Rate**<br> **Received**<br> **(Paid)** | **Currency** | **Maturity**<br> **Date** | **Notional**<br> **Amount<sup>(b)</sup>** | **Fair Value** | **Upfront**<br> **Premiums**<br> **Received/(Paid)** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
| Sell | CSC Holdings Ltd. | 5.00% | USD | 06/20/2028 | $800000 | $(148700) | $298000 | $149300 |
| Buy | RR Donnelley & Sons Co. | (5.00)% | USD | 06/20/2029 | 4046000 | (18252) | 392384 | 374132 |
| Buy | UnitedHealth Group Inc. | (1.00)% | USD | 06/20/2028 | 263000 | (4166) | 5056 | 890 |
|  |  |  |  |  |  | $(171118) | $695440 | $524322 |

---

**INDEX CREDIT DEFAULT SWAP CONTRACTS (CENTRALLY CLEARED)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Buy/Sell** <br> **Protection<sup>(a)</sup>** | **Reference Obligations** | **Annual** <br> **Payment** <br> **Rate** <br> **Received** <br> **(Paid)** | **Currency** | **Maturity** <br> **Date** | **Notional** <br> **Amount<sup>(b)</sup>** | **Fair Value** | **Upfront** <br> **Premiums** <br> **Received/(Paid)** | **Unrealized** <br> **Appreciation/** <br> **(Depreciation)** |
| Buy | Markit CDX High Yield Index, Series 43 | (5.00)% | USD | 12/20/2029 | $137478000 | $(10397782) | $9619729 | $(778053) |
| Sell | Markit CDX High Yield Index, Series 44 | 5.00% | USD | 06/20/2030 | 191018000 | 14860118 | (14241167) | 618951 |
| Buy | Markit iTraxx Europe Subordinated Financials Index, Series 39 | (1.00)% | USD | 06/20/2028 | 45000000 | (781386) | (2626045) | (3407431) |
|  |  |  |  |  |  | $3680950 | $(7247483) | $(3566533) |

---

**SINGLE NAME CREDIT DEFAULT SWAP CONTRACTS (OVER THE COUNTER)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Buy/Sell Protection<sup>(a)</sup>** | **Counterparty** | **Reference Obligations** | **Annual <br> Payment <br> Rate <br> Received <br> (Paid)** | **Currency** | **Maturity Date** | **Notional**<br> **Amount<sup>(b)</sup>** | **Fair Value** | **Upfront <br> Premiums <br> Received/(Paid)** | **Unrealized**<br> **Appreciation/<br> (Depreciation)** |
| Sell | GSI | Bristol-Myers Squibb Company | 1.00% | USD | 12/20/2027 | $8493000 | $166457 | $(228312) | $(61855) |
| Sell | MSCS | Bristol-Myers Squibb Company | 1.00% | USD | 12/20/2027 | 10000000 | 195993 | (257109) | (61116) |
| Sell | MSCS | Bristol-Myers Squibb Company | 1.00% | USD | 06/20/2029 | 14307000 | 391631 | (449191) | (57560) |
| Sell | BARC | CommScope Holding Company, Inc. | 5.00% | USD | 06/20/2027 | 5375000 | 291324 | (168130) | 123194 |
| Buy | BARC | CommScope Holding Company, Inc. | (5.00)% | USD | 06/20/2030 | 5375000 | (410701) | 103925 | (306776) |
| Sell | GSI | International Business Machines Corporation | 1.00% | USD | 12/20/2027 | 20642000 | 402033 | (395100) | 6933 |
| Sell | BARC | International Business Machines Corporation | 1.00% | USD | 12/20/2028 | 3675000 | 89842 | (81859) | 7983 |
| Sell | BARC | NextEra Energy Capital Holdings, Inc. | 1.00% | USD | 06/20/2028 | 4306000 | 72810 | (22659) | 50151 |
| Sell | GSI | Pfizer Inc. | 1.00% | USD | 12/20/2027 | 9152000 | 176759 | (228364) | (51605) |
| Sell | MSCS | Pfizer Inc. | 1.00% | USD | 12/20/2027 | 7325000 | 141473 | (178314) | (36841) |
| Sell | GSI | Pfizer, Inc. | 1.00% | USD | 12/20/2028 | 15802000 | 384646 | (438142) | (53496) |
| Sell | GSI | The Procter & Gamble Company | 1.00% | USD | 12/20/2027 | 1996000 | 41022 | (50539) | (9517) |
| Buy | BARC | Unisys Corporation | (5.00)% | USD | 06/20/2028 | 286000 | (24147) | (38292) | (62439) |
| Sell | MSCS | UnitedHealth Group Incorporated | 1.00% | USD | 12/20/2027 | 11190000 | 177238 | (246111) | (68873) |
| Sell | MSCS | Verizon Communications Inc. | 1.00% | USD | 06/20/2028 | 3181000 | 56699 | (2900) | 53799 |
| Sell | MSCS | Verizon Communications Inc. | 1.00% | USD | 12/20/2027 | 7000000 | 110801 | 4885 | 115686 |
|  |  |  |  |  |  |  | $2263880 | $(2676212) | $(412332) |

---

Quarterly Report \| July 31, 2025 25

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

*<sup>(a)</sup>* *If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.*

*<sup>(b)</sup>* *The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. Notional amounts are presented in the currency indicated in the table.*

**TOTAL RETURN SWAP CONTRACTS<sup>(a)</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Obligations** | **Currency** | **Notional <br> Amount<sup>(b)</sup>** | **Termination <br> Date** | **Financing <br> Rate Index** | **Financing <br> Rate Spread <br> Paid/(Received) <br> by Fund** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Long Position Contracts** | **Long Position Contracts** |  |  |  |  |  |  |  |
| JPM | abrdn Asia Focus PLC | GBP | 174809 | 03/31/2026 | SONIA | 35 bps | $176351 | $1542 |
| JPM | abrdn Diversified Income and Growth Trust PLC | GBP | 155263 | 11/28/2025 | SONIA | 35 bps | 155507 | 244 |
| JPM | abrdn New India Investment Trust PLC | GBP | 910827 | 11/28/2025 | SONIA | 35 bps | 906307 | (4520) |
| JPM | abrdn UK Smaller Cos Growth Trust PLC | GBP | 2318868 | 11/28/2025 | SONIA | 35 bps | 2332170 | 13302 |
| JPM | Allianz Technology Trust PLC | EUR | 864398 | 11/28/2025 | ESTRON | 35 bps | 893844 | 29446 |
| JPM | Anywhere Real Estate, Inc. | USD | 670677 | 12/31/2025 | OBFR | 35 bps | 648228 | (22449) |
| JPM | Arbutus Biopharma Corp. | USD | 70056 | 12/31/2025 | OBFR | 35 bps | 69631 | (425) |
| JPM | Aurora UK Alpha PLC | GBP | 3540 | 05/29/2026 | SONIA | 35 bps | 3568 | 28 |
| JPM | Avi Global Trust PLC | GBP | 1617366 | 06/30/2026 | SONIA | 35 bps | 1645963 | 28597 |
| JPM | Baidu, Inc. | USD | 617135 | 12/31/2025 | OBFR | 35 bps | 630994 | 13859 |
| JPM | Baillie Gifford European Growth Trust PLC | GBP | 526799 | 11/28/2025 | SONIA | 35 bps | 516812 | (9987) |
| JPM | Baillie Gifford Shin Nippon PLC | GBP | 9259 | 02/27/2026 | SONIA | 35 bps | 9362 | 103 |
| JPM | Baillie Gifford UK Growth Trust PLC | GBP | 5515606 | 11/28/2025 | SONIA | 35 bps | 5650792 | 135186 |
| JPM | Baillie Gifford US Growth Trust PLC | GBP | 10965318 | 11/28/2025 | SONIA | 35 bps | 11129593 | 164275 |
| JPM | Baker Steel Resources Trust, Ltd. | GBP | 309694 | 11/28/2025 | SONIA | 35 bps | 307382 | (2312) |
| JPM | Bankers Investment Trust PLC | GBP | 2509999 | 11/28/2025 | SONIA | 35 bps | 2526324 | 16325 |
| JPM | BB Biotech AG | CHF | 733091 | 12/31/2025 | SARON | 35 bps | 770092 | 37001 |
| JPM | Bellevue Healthcare Trust PLC | GBP | 60541 | 02/27/2026 | SONIA | 35 bps | 60647 | 106 |
| JPM | BlackRock Smaller Companies Trust PLC | GBP | 1374939 | 11/28/2025 | SONIA | 35 bps | 1398101 | 23162 |
| JPM | Blackrock Throgmorton Trust PLC | GBP | 1073172 | 11/28/2025 | SONIA | 35 bps | 1087650 | 14478 |
| JPM | Brown Advisory US Smaller Companies PLC | GBP | 290548 | 11/28/2025 | SONIA | 35 bps | 290548 |  |
| JPM | Cannae Holdings, Inc. | USD | 138116 | 12/31/2025 | OBFR | 35 bps | 137922 | (194) |
| JPM | Compass Diversified Holdings | USD | 153639 | 12/31/2025 | OBFR | 35 bps | 152210 | (1429) |
| JPM | CQS Natural Resources Growth and Income PLC | GBP | 523052 | 11/28/2025 | SONIA | 35 bps | 506296 | (16756) |
| JPM | Diverse Income Trust PLC | GBP | 580361 | 11/28/2025 | SONIA | 35 bps | 574833 | (5528) |
| JPM | Ecofin Global Utilities/Infrastructure Trust | GBP | 317420 | 11/28/2025 | SONIA | 35 bps | 314548 | (2872) |
| JPM | Geiger Counter, Ltd. | GBP | 7248 | 11/28/2025 | SONIA | 35 bps | 7105 | (143) |
| JPM | GEO Group, Inc. | USD | 803151 | 12/31/2025 | OBFR | 35 bps | 817983 | 14832 |
| JPM | Gresham House Energy Storage Fund PLC | GBP | 151367 | 04/30/2026 | SONIA | 35 bps | 152508 | 1141 |
| JPM | HarbourVest Global Private Equity, Ltd. | GBP | 311722 | 08/28/2026 | SONIA | 35 bps | 309438 | (2284) |
| JPM | HBM Healthcare Investments AG | CHF | 511421 | 04/30/2026 | SARON | 35 bps | 511421 |  |
| JPM | Henderson Smaller Companies Inv Trust PLC | GBP | 1236955 | 11/28/2025 | SONIA | 35 bps | 1271355 | 34400 |
| JPM | Herald Investment Trust PLC | GBP | 9258069 | 11/28/2025 | SONIA | 35 bps | 9372366 | 114297 |
| JPM | Impax Environmental Markets PLC | GBP | 1508085 | 11/28/2025 | SONIA | 35 bps | 1517570 | 9485 |
| JPM | International Biotechnology Trust PLC | GBP | 3701 | 05/29/2026 | SONIA | 35 bps | 3748 | 47 |
| JPM | Invesco Perpetual UK Smaller Cos Inv Trust PLC | USD | 1556 | 03/31/2026 | OBFR | 35 bps | 1540 | (16) |
| JPM | IP Group PLC | GBP | 1201630 | 04/30/2026 | SONIA | 35 bps | 1199485 | (2145) |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**TOTAL RETURN SWAP CONTRACTS<sup>(a)</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Obligations** | **Currency** | **Notional <br> Amount<sup>(b)</sup>** | **Termination <br> Date** | **Financing <br> Rate Index** | **Financing <br> Rate Spread <br> Paid/(Received) <br> by Fund** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Long Position Contracts** | **Long Position Contracts** |  |  |  |  |  |  |  |
| JPM | JPM Global Emerging Markets Income Trust PLC | GBP | 32064 | 05/29/2026 | SONIA | 35 bps | $32383 | $319 |
| JPM | Lowland Investment Company PLC | GBP | 117014 | 11/28/2025 | SONIA | 35 bps | 117829 | 815 |
| JPM | Mercantile Investment Trust PLC | GBP | 5403596 | 11/28/2025 | SONIA | 35 bps | 5478796 | 75200 |
| JPM | MFF Capital Investments, Ltd. | AUD | 1067279 | 11/28/2025 | RBACOR | 45 bps | 1079007 | 11728 |
| JPM | Middlefield Canadian Income PC | GBP | 76179 | 11/28/2025 | SONIA | 35 bps | 75759 | (420) |
| JPM | Monks Investment Trust PLC | GBP | 85261 | 11/28/2025 | SONIA | 35 bps | 85512 | 251 |
| JPM | Murray Income Trust PLC | GBP | 3102 | 04/30/2026 | SONIA | 35 bps | 3078 | (24) |
| JPM | Pacific Assets Trust PLC | GBP | 46075 | 02/27/2026 | SONIA | 35 bps | 45433 | (642) |
| JPM | Pacific Horizon Investment Trust PLC | GBP | 74697 | 03/31/2026 | SONIA | 35 bps | 74813 | 116 |
| JPM | Partners Group Private Equity, Ltd. | EUR | 729598 | 05/29/2026 | ESTRON | 40 bps | 735506 | 5908 |
| JPM | Pengana International Equities, Ltd. | AUD | 232956 | 11/28/2025 | RBACOR | 45 bps | 235774 | 2818 |
| JPM | Polar Capital Technology Trust PLC | GBP | 3164974 | 11/28/2025 | SONIA | 35 bps | 3241579 | 76605 |
| JPM | RealReal, Inc. | USD | 385377 | 12/31/2025 | OBFR | 35 bps | 378894 | (6483) |
| JPM | RIT Capital Partners PLC | GBP | 1772082 | 11/28/2025 | SONIA | 35 bps | 1797698 | 25616 |
| JPM | River & Mercantile UK Micro Cap Inv Co Ltd . | GBP | 1135357 | 11/28/2025 | SONIA | 35 bps | 1135357 |  |
| JPM | RM Infrastructure Income PLC | GBP | 428863 | 06/30/2026 | SONIA | 35 bps | 441761 | 12898 |
| JPM | Schroder AsiaPacific Fund PLC | GBP | 9343 | 05/29/2026 | SONIA | 35 bps | 9327 | (16) |
| JPM | Schroder UK Mid Cap Fund PLC | GBP | 114245 | 11/28/2025 | SONIA | 35 bps | 117645 | 3400 |
| JPM | Schroders Capital Global | GBP | 9842 | 11/28/2025 | SONIA | 35 bps | 9227 | (615) |
| JPM | Scottish Mortgage Investment Trust PLC | GBP | 2812375 | 11/28/2025 | SONIA | 35 bps | 2867213 | 54838 |
| JPM | Scottish Oriental Smaller Companies Trust PLC | GBP | 138122 | 05/29/2026 | SONIA | 35 bps | 137201 | (921) |
| JPM | SDCL Efficiency Income Trust PLC | GBP | 4959016 | 07/31/2026 | SONIA | 35 bps | 5012053 | 53037 |
| JPM | Smithson Investment Trust PLC | GBP | 1462263 | 05/29/2026 | SONIA | 35 bps | 1467975 | 5712 |
| JPM | Snap, Inc. | USD | 2976631 | 12/31/2025 | OBFR | 35 bps | 3011763 | 35132 |
| JPM | Syncona, Ltd. | GBP | 962117 | 07/31/2026 | SONIA | 35 bps | 977150 | 15033 |
| JPM | Templeton EM Investment Trust PLC | GBP | 3764678 | 11/28/2025 | SONIA | 35 bps | 3764678 |  |
| JPM | The Global Smaller Companies Trust PLC | GBP | 57493 | 05/29/2026 | SONIA | 35 bps | 57911 | 418 |
| JPM | The Gore Street Energy Storage Fund PLC | GBP | 1152355 | 08/28/2026 | SONIA | 35 bps | 1195312 | 42957 |
| JPM | Uber Technologies, Inc. | USD | 1039586 | 12/31/2025 | OBFR | 35 bps | 1040891 | 1305 |
| JPM | Utilico Emerging Markets Trust PLC | GBP | 95385 | 03/31/2026 | SONIA | 35 bps | 96176 | 791 |
| JPM | Vertex, Inc. | USD | 61042 | 12/31/2025 | OBFR | 35 bps | 59640 | (1402) |
| JPM | VGI Partners Global Investments, Ltd. | AUD | 533848 | 11/28/2025 | RBACOR | 45 bps | 535352 | 1504 |
| JPM | Vietnam Enterprise Investments, Ltd. | GBP | 84661 | 05/29/2026 | SONIA | 35 bps | 87040 | 2379 |
| JPM | VPC Specialty Lending Investments PLC | GBP | 277065 | 04/30/2026 | SONIA | 35 bps | 279864 | 2799 |
| JPM | Weibo Corp. | USD | 156102 | 12/31/2025 | OBFR | 35 bps | 152929 | (3173) |
| JPM | Workspace Group PLC | GBP | 1182237 | 08/28/2026 | SONIA | 35 bps | 1187975 | 5738 |
| JPM | Worldwide Healthcare Trust PLC | GBP | 1112153 | 11/28/2025 | SONIA | 35 bps | 1129947 | 17794 |
| **Total Long Position Contracts** | **Total Long Position Contracts** |  |  |  |  |  | $86216642 | $1022211 |

---

Quarterly Report \| July 31, 2025 27

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**TOTAL RETURN SWAP CONTRACTS<sup>(a)</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Obligations** | **Currency** | **Notional <br> Amount<sup>(b)</sup>** | **Termination <br> Date** | **Financing <br> Rate Index** | **Financing <br> Rate Spread <br> Paid/(Received) <br> by Fund** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Short Position Contracts** | **Short Position Contracts** |  |  |  |  |  |  |  |
| JPM | 3i Group PLC | GBP | (179740) | 08/28/2026 | SONIA | (30) bps | $(180304) | $(564) |
| JPM | 4imprint Group PLC | GBP | (374445) | 11/28/2025 | SONIA | (30) bps | (370325) | 4120 |
| JPM | AJ Bell PLC | GBP | (346658) | 08/28/2026 | SONIA | (30) bps | (359107) | (12449) |
| JPM | Alfa Financial Software Holdings PLC | GBP | (15783) | 08/28/2026 | SONIA | (30) bps | (16504) | (721) |
| JPM | Alpha Group International PLC | GBP | (230800) | 05/29/2026 | SONIA | (30) bps | (231077) | (277) |
| JPM | Ashtead Technology Holdings plc | GBP | (48251) | 08/28/2026 | SONIA | (30) bps | (49504) | (1253) |
| JPM | Auction Technology Group PLC | GBP | (2329) | 11/28/2025 | SONIA | (30) bps | (2368) | (39) |
| JPM | Auto Trader Group PLC | GBP | (350810) | 11/28/2025 | SONIA | (30) bps | (356083) | (5273) |
| JPM | Babcock International Group PLC | GBP | (245607) | 08/28/2026 | SONIA | (30) bps | (250831) | (5224) |
| JPM | Balfour Beatty PLC | GBP | (63030) | 11/28/2025 | SONIA | (30) bps | (63615) | (585) |
| JPM | Barratt Redrow PLC | GBP | (70655) | 09/30/2025 | SONIA | (30) bps | (70112) | 543 |
| JPM | Beazley PLC | GBP | (114219) | 08/28/2026 | SONIA | (30) bps | (113395) | 824 |
| JPM | Bellway PLC | GBP | (174985) | 11/28/2025 | SONIA | (30) bps | (173531) | 1454 |
| JPM | BFF Bank SpA | EUR | (28230) | 11/28/2025 | ESTRON | (30) bps | (28257) | (27) |
| JPM | Big Technologies PLC | GBP | (733) | 11/28/2025 | SONIA | (180) bps | (722) | 11 |
| JPM | Bloomsbury Publishing PLC | GBP | (58275) | 11/28/2025 | SONIA | (30) bps | (59138) | (863) |
| JPM | Bodycote PLC | GBP | (150497) | 08/28/2026 | SONIA | (30) bps | (167321) | (16824) |
| JPM | Bollore SE | EUR | (54199) | 08/31/2026 | ESTRON | (30) bps | (53305) | 894 |
| JPM | Bunzl PLC | GBP | (78922) | 08/28/2026 | SONIA | (30) bps | (77009) | 1913 |
| JPM | Bytes Technology Group PLC | GBP | (111934) | 11/28/2025 | SONIA | (30) bps | (116837) | (4903) |
| JPM | Cairn Homes PLC | GBP | (47499) | 08/28/2026 | SONIA | (30) bps | (48532) | (1033) |
| JPM | Card Factory PLC | GBP | (673) | 11/28/2025 | SONIA | (30) bps | (728) | (55) |
| JPM | Central Asia Metals PLC | GBP | (2275) | 11/28/2025 | SONIA | (30) bps | (2212) | 63 |
| JPM | Chemring Group PLC | GBP | (314679) | 11/28/2025 | SONIA | (30) bps | (321698) | (7019) |
| JPM | Cie de Saint-Gobain SA | EUR | (63288) | 08/31/2026 | ESTRON | (30) bps | (62725) | 563 |
| JPM | Clarkson PLC | GBP | (99575) | 11/28/2025 | SONIA | (30) bps | (100155) | (580) |
| JPM | Compass Group PLC | GBP | (69336) | 08/28/2026 | SONIA | (30) bps | (70743) | (1407) |
| JPM | Computacenter PLC | GBP | (158352) | 11/28/2025 | SONIA | (30) bps | (163194) | (4842) |
| JPM | Conduit Holdings, Ltd. | GBP | (2404) | 11/28/2025 | SONIA | (30) bps | (1909) | 495 |
| JPM | Craneware PLC | GBP | (136624) | 08/28/2026 | SONIA | (30) bps | (129617) | 7007 |
| JPM | Cranswick PLC | GBP | (387157) | 11/28/2025 | SONIA | (30) bps | (393832) | (6675) |
| JPM | Crest Nicholson Holdings PLC | GBP | (28885) | 11/28/2025 | SONIA | (30) bps | (28759) | 126 |
| JPM | CVS Group PLC | GBP | (37869) | 11/28/2025 | SONIA | (30) bps | (37382) | 487 |
| JPM | Dalata Hotel Group PLC | EUR | (99722) | 08/31/2026 | ESTRON | (30) bps | (99879) | (157) |
| JPM | Diageo PLC | GBP | (61762) | 08/28/2026 | SONIA | (30) bps | (59222) | 2540 |
| JPM | Diploma PLC | GBP | (547094) | 11/28/2025 | SONIA | (30) bps | (556402) | (9308) |
| JPM | DiscoverIE Group PLC | GBP | (163992) | 11/28/2025 | SONIA | (30) bps | (166645) | (2653) |
| JPM | Dunelm Group PLC | GBP | (306992) | 11/28/2025 | SONIA | (30) bps | (308770) | (1778) |
| JPM | Edenred | EUR | (16478) | 11/28/2025 | ESTRON | (30) bps | (15939) | 539 |
| JPM | Elementis PLC | GBP | (68028) | 08/28/2026 | SONIA | (30) bps | (73109) | (5081) |
| JPM | Entain PLC | GBP | (131136) | 08/28/2026 | SONIA | (30) bps | (133554) | (2418) |
| JPM | Eurofins Scientific SE | EUR | (44547) | 08/31/2026 | ESTRON | (30) bps | (45097) | (550) |
| JPM | Experian PLC | GBP | (260746) | 11/28/2025 | SONIA | (30) bps | (263443) | (2697) |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**TOTAL RETURN SWAP CONTRACTS<sup>(a)</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Obligations** | **Currency** | **Notional <br> Amount<sup>(b)</sup>** | **Termination <br> Date** | **Financing Rate<br> Index** | **Financing <br> Rate Spread <br> Paid/(Received) <br> by Fund** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Short Position Contracts** | **Short Position Contracts** |  |  |  |  |  |  |  |
| JPM | FDJ UNITED | EUR | (124441) | 08/31/2026 | ESTRON | (30) bps | $(113267) | $11174 |
| JPM | Flutter Entertainment PLC | GBP | (146080) | 08/28/2026 | SONIA | (30) bps | (149180) | (3100) |
| JPM | Forterra PLC | GBP | (41689) | 08/28/2026 | SONIA | (30) bps | (41178) | 511 |
| JPM | Future PLC | GBP | (82207) | 11/28/2025 | SONIA | (30) bps | (82554) | (347) |
| JPM | Games Workshop Group PLC | GBP | (801313) | 11/28/2025 | SONIA | (30) bps | (811273) | (9960) |
| JPM | Gamma Communications PLC | GBP | (113367) | 11/28/2025 | SONIA | (30) bps | (114418) | (1051) |
| JPM | GB Group PLC | GBP | (143353) | 08/28/2026 | SONIA | (30) bps | (147774) | (4421) |
| JPM | Genus PLC | GBP | (254613) | 11/28/2025 | SONIA | (30) bps | (253092) | 1521 |
| JPM | GlobalData PLC | GBP | (124849) | 08/28/2026 | SONIA | (30) bps | (122235) | 2614 |
| JPM | Grafton Group PLC | GBP | (170403) | 11/28/2025 | SONIA | (30) bps | (170231) | 172 |
| JPM | Greatland Resources, Ltd. | GBP | (175715) | 08/28/2026 | SONIA | (30) bps | (166757) | 8958 |
| JPM | Halma PLC | GBP | (248846) | 08/28/2026 | SONIA | (30) bps | (250600) | (1754) |
| JPM | Helical PLC | GBP | (11378) | 08/28/2026 | SONIA | (30) bps | (10966) | 412 |
| JPM | Hermes International SCA | EUR | (56989) | 08/31/2026 | ESTRON | (30) bps | (51549) | 5440 |
| JPM | Hikma Pharmaceuticals PLC | GBP | (126331) | 08/28/2026 | SONIA | (30) bps | (125564) | 767 |
| JPM | Hill & Smith PLC | GBP | (220862) | 08/28/2026 | SONIA | (30) bps | (225269) | (4407) |
| JPM | Hilton Food Group PLC | GBP | (76394) | 08/28/2026 | SONIA | (30) bps | (77120) | (726) |
| JPM | Hollywood Bowl Group PLC | GBP | (47356) | 11/28/2025 | SONIA | (30) bps | (48401) | (1045) |
| JPM | Howden Joinery Group PLC | GBP | (248556) | 08/28/2026 | SONIA | (30) bps | (243290) | 5266 |
| JPM | Hunting PLC | GBP | (15832) | 11/28/2025 | SONIA | (30) bps | (15634) | 198 |
| JPM | Ibstock PLC | GBP | (52007) | 08/28/2026 | SONIA | (30) bps | (52709) | (702) |
| JPM | IMI PLC | GBP | (158060) | 11/28/2025 | SONIA | (30) bps | (158345) | (285) |
| JPM | Impax Asset Management Group PLC | GBP | (1885) | 11/28/2025 | SONIA | (30) bps | (1844) | 41 |
| JPM | Inchcape PLC | GBP | (274184) | 11/28/2025 | SONIA | (30) bps | (272438) | 1746 |
| JPM | IntegraFin Holdings PLC | GBP | (310665) | 08/28/2026 | SONIA | (30) bps | (310380) | 285 |
| JPM | Intermediate Capital Group PLC | GBP | (237953) | 11/28/2025 | SONIA | (30) bps | (241501) | (3548) |
| JPM | JET2 PLC | GBP | (169964) | 08/28/2026 | SONIA | (30) bps | (171015) | (1051) |
| JPM | Johnson Service Group PLC | GBP | (57446) | 08/28/2026 | SONIA | (30) bps | (58863) | (1417) |
| JPM | Judges Scientific PLC | GBP | (32448) | 08/28/2026 | SONIA | (30) bps | (30903) | 1545 |
| JPM | Just Group PLC | GBP | (414721) | 08/28/2026 | SONIA | (30) bps | (693628) | (278907) |
| JPM | Kainos Group PLC | GBP | (83914) | 11/28/2025 | SONIA | (30) bps | (85297) | (1383) |
| JPM | Kering SA | EUR | (49702) | 11/28/2025 | ESTRON | (30) bps | (50649) | (947) |
| JPM | Lancashire Holdings, Ltd. | GBP | (121848) | 08/28/2026 | SONIA | (30) bps | (121075) | 773 |
| JPM | Legal & General Group PLC | GBP | (153463) | 08/28/2026 | SONIA | (30) bps | (154365) | (902) |
| JPM | Lloyds Banking Group PLC | GBP | (100165) | 08/28/2026 | SONIA | (30) bps | (98240) | 1925 |
| JPM | London Stock Exchange Group PLC | GBP | (68146) | 08/28/2026 | SONIA | (30) bps | (63103) | 5043 |
| JPM | LondonMetric Property PLC | GBP | (128697) | 08/28/2026 | SONIA | (30) bps | (128630) | 67 |
| JPM | Luceco PLC | GBP | (59028) | 08/28/2026 | SONIA | (30) bps | (56385) | 2643 |
| JPM | Man Group PLC | GBP | (119072) | 11/28/2025 | SONIA | (30) bps | (111880) | 7192 |
| JPM | ME Group International PLC | GBP | (99821) | 08/28/2026 | SONIA | (30) bps | (101413) | (1592) |
| JPM | Mitie Group PLC | GBP | (75734) | 08/28/2026 | SONIA | (30) bps | (78392) | (2658) |
| JPM | Molten Ventures PLC | GBP | 282891 | 09/30/2026 | SONIA | (0) bps | 293160 | 10269 |
| JPM | MONY Group PLC | GBP | (103039) | 08/28/2026 | SONIA | (30) bps | (100832) | 2207 |
| JPM | Moonpig Group PLC | GBP | (251191) | 08/28/2026 | SONIA | (30) bps | (255508) | (4317) |

---

Quarterly Report \| July 31, 2025 29

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**TOTAL RETURN SWAP CONTRACTS<sup>(a)</sup>**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Obligations** | **Currency** | **Notional <br> Amount<sup>(b)</sup>** | **Termination <br> Date** | **Financing <br> Rate Index** | **Financing <br> Rate Spread <br> Paid/(Received) <br> by Fund** | **Value** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Short Position Contracts** | **Short Position Contracts** |  |  |  |  |  |  |  |  |
| JPM | Morgan Advanced Materials PLC | GBP | (983) | 11/28/2025 | SONIA | (30) bps | $— | (1011) | $(28) |
| JPM | Morgan Sindall Group PLC | GBP | (316269) | 11/28/2025 | SONIA | (30) bps |  | (314971) | 1298 |
| JPM | Mortgage Advice Bureau Holdings, Ltd. | GBP | (63027) | 08/28/2026 | SONIA | (30) bps |  | (61756) | 1271 |
| JPM | National Grid PLC | GBP | (124847) | 08/28/2026 | SONIA | (30) bps |  | (126760) | (1913) |
| JPM | Nexans SA | EUR | (17039) | 11/28/2025 | ESTRON | (30) bps |  | (18190) | (1151) |
| JPM | Next Fifteen Communications | GBP | (83) | 11/28/2025 | SONIA | (205) bps |  | (82) | 1 |
| JPM | On the Beach Group PLC | GBP | (79207) | 08/28/2026 | SONIA | (30) bps |  | (78051) | 1156 |
| JPM | OSB Group PLC | GBP | (116968) | 08/28/2026 | SONIA | (30) bps |  | (119329) | (2361) |
| JPM | Oxford Instruments PLC | GBP | (197517) | 11/28/2025 | SONIA | (30) bps |  | (192225) | 5292 |
| JPM | Pagegroup PLC | GBP | (253) | 11/28/2025 | SONIA | (30) bps |  | (249) | 4 |
| JPM | Paragon Banking Group PLC | GBP | (407298) | 08/28/2026 | SONIA | (30) bps |  | (422590) | (15292) |
| JPM | PayPoint PLC | GBP | (83117) | 08/28/2026 | SONIA | (30) bps |  | (83003) | 114 |
| JPM | Plus500, Ltd. | GBP | (73175) | 08/28/2026 | SONIA | (30) bps |  | (74548) | (1373) |
| JPM | Polestar Automotive Holding UK PLC | USD | (745790) | 11/28/2025 | OBFR | (1100) bps |  | (731850) | 13940 |
| JPM | Pollen Street Group, Ltd. | GBP | (43847) | 08/28/2026 | SONIA | (75) bps |  | (45800) | (1953) |
| JPM | Porvair PLC | GBP | (56688) | 08/28/2026 | SONIA | (30) bps |  | (57152) | (464) |
| JPM | Premier Foods PLC | GBP | (131567) | 08/28/2026 | SONIA | (30) bps |  | (131431) | 136 |
| JPM | Prudential PLC | GBP | (121618) | 08/28/2026 | SONIA | (30) bps |  | (124459) | (2841) |
| JPM | QinetiQ Group PLC | GBP | (217514) | 11/28/2025 | SONIA | (30) bps |  | (216903) | 611 |
| JPM | Reach PLC | GBP | (75) | 11/28/2025 | SONIA | (30) bps |  | (75) |  |
| JPM | Reckitt Benckiser Group PLC | GBP | (52398) | 08/28/2026 | SONIA | (30) bps |  | (52360) | 38 |
| JPM | RELX PLC | GBP | (127335) | 08/28/2026 | SONIA | (30) bps |  | (128445) | (1110) |
| JPM | Renishaw PLC | GBP | (158409) | 08/28/2026 | SONIA | (30) bps |  | (159751) | (1342) |
| JPM | Rightmove PLC | GBP | (125623) | 08/28/2026 | SONIA | (30) bps |  | (130368) | (4745) |
| JPM | Rotork PLC | GBP | (45695) | 08/28/2026 | SONIA | (30) bps |  | (45864) | (169) |
| JPM | Samsung Electronics Co., Ltd. | USD | (76921) | 11/28/2025 | OBFR | (95) bps |  | (76677) | 244 |
| JPM | Savills PLC | GBP | (41325) | 08/28/2026 | SONIA | (30) bps |  | (41115) | 210 |
| JPM | Schneider Electric SE | EUR | (113379) | 08/31/2026 | ESTRON | (30) bps |  | (108620) | 4759 |
| JPM | Scout24 SE | EUR | (10228) | 05/29/2026 | ESTRON | (30) bps |  | (10048) | 180 |
| JPM | Senior PLC | GBP | (1939) | 11/28/2025 | SONIA | (30) bps |  | (1990) | (51) |
| JPM | Serco Group PLC | GBP | (129043) | 08/28/2026 | SONIA | (30) bps |  | (129629) | (586) |
| JPM | Sirius Real Estate, Ltd. | GBP | (115493) | 08/28/2026 | SONIA | (30) bps |  | (117664) | (2171) |
| JPM | Softcat PLC | GBP | (273013) | 08/28/2026 | SONIA | (30) bps |  | (275617) | (2604) |
| JPM | Soitec | EUR | (8048) | 11/28/2025 | ESTRON | (30) bps |  | (7683) | 365 |
| JPM | Spirax Group PLC | GBP | (53916) | 08/28/2026 | SONIA | (30) bps |  | (55221) | (1305) |
| JPM | Spire Healthcare Group PLC | GBP | (47727) | 08/28/2026 | SONIA | (30) bps |  | (46139) | 1588 |
| JPM | SSP Group PLC | GBP | (63300) | 11/28/2025 | SONIA | (30) bps |  | (64430) | (1130) |
| JPM | St James's Place PLC | GBP | (238824) | 08/28/2026 | SONIA | (30) bps |  | (268457) | (29633) |
| JPM | Telecom Plus PLC | GBP | (402052) | 11/28/2025 | SONIA | (30) bps |  | (407355) | (5303) |
| JPM | Trainline PLC | GBP | (70910) | 08/28/2026 | SONIA | (30) bps |  | (73653) | (2743) |
| JPM | Trustpilot Group PLC | GBP | (253939) | 08/28/2026 | SONIA | (30) bps |  | (249557) | 4382 |
| JPM | Vesuvius PLC | GBP | (20683) | 11/28/2025 | SONIA | (30) bps |  | (20870) | (187) |
| JPM | Victrex PLC | GBP | (16056) | 08/28/2026 | SONIA | (30) bps |  | (16150) | (94) |
| JPM | Virbac SACA | EUR | (15201) | 11/28/2025 | ESTRON | (30) bps |  | (14673) | 528 |
| JPM | Volution Group PLC | GBP | (655219) | 08/28/2026 | SONIA | (30) bps |  | (660568) | (5349) |

---

Saba Capital Income & Opportunities Fund Consolidated Schedule of Investments

July 31, 2025 (Unaudited)

**TOTAL RETURN SWAP CONTRACTS<sup>(a)</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Obligations** | **Currency** | **Notional <br> Amount<sup>(b)</sup>** | **Termination Date** | **Financing Rate Index** | **Financing <br> Rate Spread <br> Paid/(Received) <br> by Fund** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| **Short Position Contracts** | **Short Position Contracts** |  |  |  |  |  |  |  |
| JPM | Watches of Switzerland Group PLC | GBP | (83274) | 11/28/2025 | SONIA | (30) bps | $(82381) | $893 |
| JPM | WH Smith PLC | GBP | (164757) | 11/28/2025 | SONIA | (30) bps | (160545) | 4212 |
| JPM | Wise PLC | GBP | (384346) | 11/28/2025 | SONIA | (30) bps | (385866) | (1520) |
| JPM | XPS Pensions Group PLC | GBP | (267990) | 08/28/2026 | SONIA | (30) bps | (274529) | (6539) |
| JPM | YouGov PLC | GBP | (45418) | 08/28/2026 | SONIA | (30) bps | (44843) | 575 |
| **Total Short Position Contracts** | **Total Short Position Contracts** |  |  |  |  |  | $(19058981) | $(379587) |

---

*All Reference Obligations shown above for Total Return Swap Contracts are closed end funds and common stock.*

 

*<sup>(a)</sup>* *The Fund receives monthly payments based on any positive monthly return of the Reference Obligation. The Fund makes payments on any negative monthly return of such Reference Obligation.*

*<sup>(b)</sup>* *Notional amounts are presented in U.S. dollar equivalent.*

Quarterly Report \| July 31, 2025 31

Saba Capital Income & Opportunities Fund Notes to Consolidated Financial Statements

July 31, 2025 (Unaudited)

The following table summarizes the valuation of the Fund's financial instruments in accordance with the fair value hierarchy levels as of July 31, 2025. Refer to the Consolidated Schedule of Investments for additional details.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities, at Fair Value** | **Level 1 - Quoted Prices** | **Level 2 - Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Corporate Bonds | $- | $46095961 | $- | $46095961 |
| Senior Loans |  | 29887526 |  | 29887526 |
| Convertible Corporate Bonds |  |  | 7545502 | 7545502 |
| Mortgage-Backed Securities |  | 3608511 |  | 3608511 |
| Common Stock\* | 47489043 | 4442648 |  | 51931691 |
| Closed End Funds | 57659707 |  |  | 57659707 |
| Investment Trusts | 26919088 |  |  | 26919088 |
| Preferred Stock |  | 2856 | 5130512 | 5133368 |
| Participation Agreements\* |  |  | 888284 | 888284 |
| Private Funds\*\* |  |  |  | 64461358 |
| Unit Trust | 29289632 |  |  | 29289632 |
| Special Purpose Acquisition Companies | 19574502 |  | 10345519 | 29920021 |
| Warrants\* | 1685782 | 2677 | 4543581 | 6232040 |
| Rights | 79137 |  |  | 79137 |
| Options\*\*\* | 6958434 |  |  | 6958434 |
| Money Market Funds | 17337200 | - | - | 17337200 |
| Total | $206992525 | $84040179 | $28453398 | $383947460 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Investment in Affiliated Fund, at Fair Value** | <br>**Level 1 - Quoted Prices** | **Level 2 - Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | <br>**Total** |
| Closed End Fund | $800764 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $800764 |
| Total | $800764 | $- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $800764 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Securities Sold Short, at Fair Value** | <br>**Level 1 - Quoted Prices** | **Level 2 - Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | <br>**Total** |
| Corporate Bonds | $- | $18326339 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $18326339 |
| Sovereign Debt Obligations | 213110985 |  |  | 213110985 |
| Common Stock | 51141938 |  |  | 51141938 |
| Closed End Funds | 1875089 |  |  | 1875089 |
| Exchange Traded Funds | 78005367 |  |  | 78005367 |
| Special Purpose Acquisition Companies | 757476 | - | - | 757476 |
| Total | $344890855 | $18326339 | $- | $363217194 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Derivative Contracts, at Fair Value** | <br>**Level 1 - Quoted Prices** | **Level 2 - Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | <br>**Total** |
| **Assets** | | | | |
| Simple Agreement For Future Equity Contracts | $- | $- | $7824502 | $7824502 |
| Forward Foreign Currency Contracts |  | 1752214 |  | 1752214 |
| Futures Contracts | 24142 |  |  | 24142 |
| Centrally Cleared Credit Default Swaps |  | 14860118 |  | 14860118 |
| Over-the-Counter Credit Default Swaps |  | 2698728 |  | 2698728 |
| TBA MBS forward contracts |  | 578485 |  | 578485 |
| Total Return Swaps | - | 1241112 | - | 1241112 |
| Total Assets | $24142 | $21130657 | $7824502 | $28979301 |
| **Liabilities** |  |  |  |  |
| Forward Foreign Currency Contracts | $- | $2193954 | $- | $2193954 |
| Futures Contracts | 700350 |  |  | 700350 |
| Centrally Cleared Credit Default Swaps |  | 11350286 |  | 11350286 |
| Over-the-Counter Credit Default Swaps |  | 434848 |  | 434848 |
| Total Return Swaps | - | 598488 | - | 598488 |
| Total Liabilities | $700350 | $14577576 | $- | $15277926 |

---

*\** *The Fund held Level 3 investments that are priced at $0.*

*\*\** *In accordance with ASC 820-10, investments that are measured at fair value using the NAV per share (or its equivalent) as practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Schedule of Investments and Consolidated Statement of Assets and Liabilities.*

*\*\*\** *All options held by the Fund are exchange traded listed options.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Saba Capital Income & Opportunities Fund

- **b. Investment Company Act file number:** 811-05410

- **c. CIK number of Registrant:** 0000826020

- **d. LEI of Registrant:** 549300MGSUUJ7E55N746

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 405 Lexington Avenue 58th Floor

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10174

  - **Telephone number:** 212-542-4644

**Item A.2. Information about the Series.**

- **a. Name of Series:** Saba Capital Income & Opportunities Fund

- **c. LEI of Series:** 549300MGSUUJ7E55N746

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1275068602.06

**Total Liabilities:** $904913189.82

**Net Assets:** $370155412.24

**Cash Not Reported:** $9417713.10

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 8760.17664949 | **5-Year:** 8393.44314993 | **10-Year:** 1551.02965800 | **30-Year:** 144020.06864875

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 97.73749000 | **1-Year:** 3570.71792296 | **5-Year:** 38451.37000769 | **10-Year:** 351.91031865 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.83%                | 6.32%                | 5.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1052066.42              | $13035364.26                               |
| Month 2  | $3464129.40              | $11526485.53                               |
| Month 3  | $14788024.28             | $6226.86                                   |

**Designated Index Information**

- **Index Name:** Markit iBoxx USD Liquid High Yield Index

- **Index Identifier:** IBOXHY

### Schedule of Portfolio Investments

| Name                                                                             | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Vertical Aerospace Ltd                                                           | Vertical Aerospace, Ltd.                                                         | CUSIP: G9471C131<br>LEI: 9845002F3CF4E56DA491 | N/A              | DE               | CORP              | GB        |    484471 | NC      | $2268622.66   | 0.61%             |  |  |  | No            | 3                  | On Loan: No      |
| Hess Midstream Lp                                                                | Hess Midstream LP                                                                | CUSIP: 428103105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3977 | NS      | $-173118.81   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Evolution Ab                                                                     | Evolution AB                                                                     | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     31166 | NS      | $2777456.74   | 0.75%             |  |  |  | Yes           | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Mitie Group PLC TRS                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-78392.05    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Visa Inc                                                                         | Visa, Inc.                                                                       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Short            | EC               | CORP              | US        |     -1298 | NS      | $-448420.06   | -0.12%            |  |  |  | No            | 1                  | On Loan: No      |
| J.Crew                                                                           | J.Crew 9/24 TLB 1L                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   8584058 | PA      | $7307179.43   | 1.97%             | 2031-09-17      | Floating      | 10.31%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Jemi Ln Trs:b5zzy91                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $32383.31     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Voya Emerging Markets High Dividend Equity Fund                                  | Voya Emerging Markets High Dividend Equity Fund                                  | CUSIP: 92912P108<br>LEI: 549300MBU0OQHUKI2Y86 | Long             | EC               | RF                | US        |     46770 | NS      | $275943.00    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Sdp Ln Trs:0791887                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $9327.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Insulet Corp                                                                     | Insulet Corp.                                                                    | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Short            | EC               | CORP              | US        |      -758 | NS      | $-218607.20   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Corner Growth Acquisition Corp                                                   | Corner Growth Acquisition Corp.                                                  | CUSIP: G2425N113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     41045 | NC      | $8619.45      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Herald Investment Trust Plc                                                      | Herald Investment Trust PLC                                                      | CUSIP: G4410F105<br>LEI: 213800U7G1ROCTJYRR70 | Long             | EC               | RF                | GB        |      2610 | NS      | $84793.98     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5860                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        64 | NC      | $154560.00    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Wkp Ln Trs:b67g5x0                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1131604.60   | 0.31%             |  |  |  | No            | 2                  | On Loan: No      |
| Avepoint Inc                                                                     | AvePoint, Inc.                                                                   | CUSIP: 053604104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3657 | NS      | $-69775.56    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Paysafe Ltd                                                                      | Paysafe, Ltd.                                                                    | CUSIP: G6964L206<br>LEI: 2138003K6PVDCI5TBN11 | Short            | EC               | CORP              | BM        |     -7850 | NS      | $-95377.50    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Graco Inc                                                                        | Graco, Inc.                                                                      | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Short            | EC               | CORP              | US        |      -610 | NS      | $-51227.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | CANTOR EQUITY PARTNERS I..Project Enigma PIPE Cnv                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |      2310 | PA      | $2310000.00   | 0.62%             | 2030-07-01      | Fixed         | 1.00%                 | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Osb Ln Trs:bldrh36                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-119328.53   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Moncler Spa                                                                      | Moncler SpA                                                                      | CUSIP: T6730E110<br>LEI: 815600EBD7FB00525B20 | Short            | EC               | CORP              | IT        |     -1028 | NS      | $-55067.87    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gama Ln Trs:bqs10j5                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-114418.17   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| New Holland Special Opportunities Aggregator LP                                  | New Holland Special Opportunities Aggregator LP                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      6435 | NS      | $6737934.26   | 1.82%             |  |  |  | No            | N/A                | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YAZ4<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |    224000 | PA      | $174901.22    | 0.05%             | 2037-01-31      | Variable      | 5.66%                 | No            | 2                  | On Loan: No      |
| Fanniemae Strip                                                                  | FNMA, Series 437, Class C8                                                       | CUSIP: 31424UPE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5482758 | PA      | $878386.58    | 0.24%             | 2052-06-25      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Kulicke & Soffa Industries Inc                                                   | Kulicke & Soffa Industries, Inc.                                                 | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Short            | EC               | CORP              | US        |     -1178 | NS      | $-38591.28    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Renatus Tactical Acquisition Corp I                                              | Renatus Tactical Acquisition Corp. I                                             | CUSIP: G7490F101<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     10674 | NS      | $123818.40    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Coupang Inc                                                                      | Coupang, Inc.                                                                    | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Short            | EC               | CORP              | US        |     -2618 | NS      | $-77047.74    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | TD.TR BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   5264906 | NS      | $5264905.52   | 1.42%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hsl Ln Trs:0906506                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1271354.95   | 0.34%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Wosg Ln Trs:bjdqq87                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-82380.81    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Baillie Gifford UK Growth Trust PLC                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $5650791.96   | 1.53%             |  |  |  | No            | 2                  | On Loan: No      |
| Blackrock Esg Capital Allocation Term Trust                                      | BlackRock ESG Capital Allocation Term Trust                                      | CUSIP: 09262F100<br>LEI: 549300EWOI5G0PSVIX17 | Long             | EC               | RF                | US        |    410267 | NS      | $6691454.77   | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Ferrari Nv                                                                       | Ferrari NV                                                                       | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Short            | EC               | CORP              | NL        |      -162 | NS      | $-71829.18    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Abpro Holdings Inc                                                               | Abpro Holdings, Inc.                                                             | CUSIP: 000847111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     80774 | NC      | $4127.55      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Delivery Hero Se                                                                 | Delivery Hero SE                                                                 | CUSIP: N/A<br>LEI: 529900C3EX1FZGE48X78       | Short            | EC               | CORP              | DE        |     -4959 | NS      | $-147082.99   | -0.04%            |  |  |  | Yes           | 1                  | On Loan: No      |
| Welsbach Technology Metals Acquisition Corp                                      | Welsbach Technology Metals Acquisition Corp.                                     | CUSIP: 950415117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     29572 | NC      | $11459.15     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Boston Scientific Corp                                                           | Boston Scientific Corp.                                                          | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Short            | EC               | CORP              | US        |     -2213 | NS      | $-232187.96   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Gp-act Iii Acquisition Corp                                                      | GP-Act III Acquisition Corp Class B Warrants                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | KY        |     38411 | NC      | $6637.42      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Murano Global Investments Plc                                                    | Murano Global Investments PLC                                                    | CUSIP: G63369113<br>LEI: 984500A5861C7BE4AE21 | N/A              | DE               | CORP              | US        |     10493 | NC      | $2047.18      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Canna-global Acquisition Corp                                                    | Canna-Global Acquisition Corp.                                                   | CUSIP: 13767K119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    154766 | NC      | $15.48        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Armada II SPAC Sponsor Equity Class A                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    116917 | NS      | $370.63       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Equifax Inc                                                                      | Equifax, Inc.                                                                    | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Short            | EC               | CORP              | US        |      -234 | NS      | $-56213.82    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Amrq Ln Trs:bplh6m8                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $536977.02    | 0.15%             |  |  |  | No            | 2                  | On Loan: No      |
| Globant Sa                                                                       | Globant SA                                                                       | CUSIP: L44385109<br>LEI: 2221008DCMSPYS42DS88 | Short            | EC               | CORP              | LU        |      -629 | NS      | $-52999.54    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFF6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    103000 | PA      | $64104.11     | 0.02%             | 2034-10-31      | Variable      | 2.16%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ng/ Ln Trs:bdr05c0                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-126760.43   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Chs/community Health Sys                                                         | CHS/Community Health Systems, Inc.                                               | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3308000 | PA      | $3326607.50   | 0.90%             | 2034-01-15      | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| New Holland Special Opps Aggregator LP Series Y                                  | New Holland Special Opps Aggregator LP Series Y                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         4 | NS      | $3429.28      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Lgen Ln Trs:0560399                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-154364.88   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QDL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    428000 | PA      | $271120.88    | 0.07%             | 2033-09-26      | Variable      | 1.79%                 | No            | 2                  | On Loan: No      |
| G-ILS Transportation Ltd. Preferred B-3 Shares                                   | G-ILS Transportation Ltd. Preferred B-3 Shares                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1332 | NS      | $2139243.00   | 0.58%             |  |  |  | No            | 3                  | On Loan: No      |
| Youlife Group Inc                                                                | Youlife Group, Inc.                                                              | CUSIP: G9878M112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      5841 | NC      | $700.92       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Bakkt Holdings Inc                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1110124 | PA      | $1186445.38   | 0.32%             | 2049-12-31      | Fixed         | 0.00%                 | No            | 3                  | On Loan: No      |
| Nike Inc                                                                         | NIKE, Inc.                                                                       | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Short            | EC               | CORP              | US        |    -15559 | NS      | $-1162101.71  | -0.31%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ipu Ln Trs:b1fl3c7                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1539.59      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | MI7 Founders, LLC (MBAV) Class A Warrants                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |    308194 | NC      | $419143.84    | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Weibo Corp. TRS                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $152928.96    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs                                                                    | Britol-Myers Squibb                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $166456.99    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Osr Holdings Inc                                                                 | OSR Holdings, Inc.                                                               | CUSIP: 68840D110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     14638 | NC      | $681.40       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Enel Spa                                                                         | Enel SpA                                                                         | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Short            | EC               | CORP              | IT        |    -10424 | NS      | $-91990.81    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Atkore Inc                                                                       | Atkore, Inc.                                                                     | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Short            | EC               | CORP              | US        |      -682 | NS      | $-52527.64    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Blaize Holdings Inc                                                              | Blaize Holdings Inc                                                              | CUSIP: 092915115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     13861 | NC      | $8057.40      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Restaurant Brands International Inc                                              | Restaurant Brands International, Inc.                                            | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Short            | EC               | CORP              | CA        |    -18890 | NS      | $-1281875.40  | -0.35%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gsct Ln Trs:bklxd97                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $57911.46     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Fanniemae Strip                                                                  | FNMA, Series 428, Class C15                                                      | CUSIP: 31423YJP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2155047 | PA      | $386934.01    | 0.10%             | 2052-07-25      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: N/A<br>LEI: 549300CUF7B1LAB15T90       | Long             | DBT              | CORP              | KY        | 127633000 | PA      | $2233577.50   | 0.60%             | 2025-06-28      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| N/A                                                                              | Oxley Bridge Holdings LLC Class B                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    207633 | NS      | $207633.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Clean Harbors Inc                                                                | Clean Harbors, Inc.                                                              | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Short            | EC               | CORP              | US        |      -210 | NS      | $-49520.10    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     26000 | PA      | $15888.26     | 0.00%             | 2034-03-31      | Variable      | 1.73%                 | No            | 2                  | On Loan: No      |
| Everest Consolidator Acquisition Corp                                            | Everest Consolidator Acquisition Corp.                                           | CUSIP: 29978K110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     50492 | NC      | $15.15        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Ether Reserve LLC Equity PIPE                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     77018 | NS      | $770180.30    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Spotify Technology Sa                                                            | Spotify Technology SA                                                            | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Short            | EC               | CORP              | LU        |      -779 | NS      | $-488074.66   | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6260                                              | CUSIP: 58599HAM9<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        62 | NC      | $677040.00    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YAE1<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     40000 | PA      | $25055.96     | 0.01%             | 2036-06-30      | Variable      | 4.46%                 | No            | 2                  | On Loan: No      |
| Confluent Inc                                                                    | Confluent, Inc.                                                                  | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Short            | EC               | CORP              | US        |     -1636 | NS      | $-28998.10    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Moran Foods Llc                                                                  | Moran Foods 10/23 2023 FLFO PIK TL                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    554036 | PA      | $401676.14    | 0.11%             | 2026-12-31      | Floating      | 11.65%                | No            | 2                  | On Loan: No      |
| Unitedhealth Group Inc                                                           | UnitedHealth Group, Inc.                                                         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Short            | EC               | CORP              | US        |      -457 | NS      | $-114048.92   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Classover Holdings Inc                                                           | Classover Holdings, Inc.                                                         | CUSIP: 182744110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     30413 | NC      | $2752.38      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6205                                              | CUSIP: 58599HWN3<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        35 | NC      | $376600.00    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| New Providence Acquisition Corp Iii                                              | New Providence Holdings III, LLC CL A                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20816 | NS      | $208160.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | Oyster Enterprises II LLC CL A                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    175809 | NS      | $703.24       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Gp-act Iii Acquisition Corp                                                      | GP-Act III Acquisition Corp Class A Sponsor Shares                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     30730 | NS      | $28271.60     | 0.01%             |  |  |  | No            | 3                  | On Loan: No      |
| Lifezone Metals Ltd                                                              | Lifezone Metals, Ltd.                                                            | CUSIP: G5568L117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -327 | NC      | $-125.90      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen New Jersey Quality Municipal Income Fund                                  | Nuveen New Jersey Quality Municipal Income Fund                                  | CUSIP: 67069Y102<br>LEI: 5493006CFPL75HL16F31 | Long             | EC               | RF                | US        |      4492 | NS      | $50220.56     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6085                                              | CUSIP: 58599HQL4<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |         7 | NC      | $49189.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Multi-asset Income Fund                                                   | Nuveen Multi-Asset Income Fund                                                   | CUSIP: 670750108<br>LEI: 549300VLJPKC3DNIJ668 | Long             | EC               | RF                | US        |     61273 | NS      | $772039.80    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Wen Acquisition Corp                                                             | Wen Acquisition Corp.                                                            | CUSIP: G9R39C129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    240595 | NS      | $2562336.75   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | SDCL Efficiency Income Trust PLC TRS                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $5012053.12   | 1.35%             |  |  |  | No            | 2                  | On Loan: No      |
| Weibo Corp                                                                       | Weibo Corp.                                                                      | CUSIP: 948596101<br>LEI: 549300Q9ID4640FE0422 | Long             | EC               | CORP              | KY        |    481775 | NS      | $4644311.00   | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | EGH Sponsor LLC, Cl B                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9523 | NS      | $95230.00     | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| Chenghe Acquisition I Co                                                         | Chenghe Acquisition I Co.                                                        | CUSIP: G5380L121<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     37849 | NC      | $2649.43      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    231000 | PA      | $144143.08    | 0.04%             | 2034-09-30      | Variable      | 3.12%                 | No            | 2                  | On Loan: No      |
| Heico Corp                                                                       | HEICO Corp.                                                                      | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Short            | EC               | CORP              | US        |      -264 | NS      | $-86275.20    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mgam Ln Trs:0602729                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-1011.09     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Semilux Ltd                                                                      | Semilux, Ltd.                                                                    | CUSIP: G2086M123<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       400 | NC      | $23.32        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Divi Ln Trs:b65tlw2                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $574833.49    | 0.16%             |  |  |  | No            | 2                  | On Loan: No      |
| Shopify Inc                                                                      | Shopify, Inc.                                                                    | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Short            | EC               | CORP              | CA        |     -5182 | NS      | $-632902.61   | -0.17%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays                                                                         | International Business Machines CDS USD 5Y 12/2028                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $89841.86     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Southport Acquisition Corp                                                       | Southport Acquisition Corp.                                                      | CUSIP: 84465L113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      6161 | NC      | $2156.35      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Arlo Technologies Inc                                                            | Arlo Technologies, Inc.                                                          | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Short            | EC               | CORP              | US        |     -5730 | NS      | $-92826.00    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Qt Imaging Holdings Inc                                                          | QT Imaging Holdings, Inc.                                                        | CUSIP: 746962117<br>LEI: 549300EQ1NNV387FGF92 | N/A              | DE               | CORP              | US        |      3954 | NC      | $1095.26      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Xplr Infrastructure Lp                                                           | XPLR Infrastructure LP                                                           | CUSIP: 65341B106<br>LEI: 5493008F4ZOQFNG3WN54 | Short            | EC               | CORP              | US        |     -1951 | NS      | $-18593.03    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New Horizon Aircraft Ltd                                                         | New Horizon Aircraft, Ltd.                                                       | CUSIP: 64550A115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     11690 | NC      | $2571.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5845                                              | CUSIP: 58599HBV8<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        17 | NC      | $41565.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Abrdn Emerging Markets Ex China Fund Inc                                         | abrdn Emerging Markets ex China Fund, Inc.                                       | CUSIP: 00301W105<br>LEI: 549300MSYUW07RYUZD27 | Long             | EC               | RF                | US        |       497 | NS      | $3001.88      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Direxion Daily Robotics Artificial Intelligence & Automation Index Bull 2x Share | Direxion Daily Robotics Artificial Intelligence & Automation Index Bull 2X Share | CUSIP: 25460G823<br>LEI: 549300T7PQ41I2T80K11 | Long             | EC               | RF                | US        |     10072 | NS      | $229188.36    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Rigel Resource Acquisition Corp                                                  | Rigel Resource Acquisition Corp.                                                 | CUSIP: G7573M114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     15714 | NC      | $2789.24      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Orla Mining Ltd                                                                  | Orla Mining, Ltd.                                                                | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Short            | EC               | CORP              | CA        |    -52028 | NS      | $-484383.08   | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Anywhere Real Estate, Inc. TRS                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $648227.58    | 0.18%             |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5980                                              | CUSIP: 58599H7L5<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        11 | NC      | $48070.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | BR.OP BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    480000 | NS      | $480000.00    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Markit iTraxx Europe Subordinated Financials Series 39                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-347282.60   | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| Ameren Corp                                                                      | Ameren Corp.                                                                     | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Short            | EC               | CORP              | US        |      -169 | NS      | $-17090.97    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Evergreen Corp                                                                   | Evergreen Corp.                                                                  | CUSIP: G3312W117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     70092 | NC      | $1068.90      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Webster Financial Corp                                                           | Webster Financial Corp.                                                          | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Short            | EC               | CORP              | US        |     -1220 | NS      | $-70333.00    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Dnlm Ln Trs:b1ckq73                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-308769.57   | -0.08%            |  |  |  | No            | 2                  | On Loan: No      |
| Aleanna Inc                                                                      | AleAnna, Inc.                                                                    | CUSIP: 01444V111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       132 | NC      | $21.12        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Selina Hospitality Plc                                                           | Selina Hospitality PLC                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |    218500 | NC      | $0.22         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Tnl Mediagene                                                                    | TNL Mediagene                                                                    | CUSIP: G8924F113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     16257 | NC      | $297.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| 1rt Acquisition Corp                                                             | 1RT Acquisition Corp.                                                            | CUSIP: G6757R121<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     46371 | NS      | $486895.50    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bgs Ln Trs:bfxyh24                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $9361.65      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gsf Ln Trs:bg0p0v7                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1195311.57   | 0.32%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ihp Ln Trs:bd45sh4                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-310379.73   | -0.08%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gbg Ln Trs:0687061                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-147773.53   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YBH3<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     40000 | PA      | $30076.80     | 0.01%             | 2037-04-28      | Variable      | 9.00%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Nfc Ln Trs:3002605                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-81.79       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Agrinam Acquisition Corp                                                         | Agrinam Acquisition Corp.                                                        | CUSIP: 00857H122<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |     19798 | NC      | $395.96       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Mercantile Investment Trust PLC                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $5478795.56   | 1.48%             |  |  |  | No            | 2                  | On Loan: No      |
| Blackrock Muniholdings California Quality Fund Inc                               | BlackRock MuniHoldings California Quality Fund, Inc.                             | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             | EC               | RF                | US        |      2532 | NS      | $25471.92     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Prv Ln Trs:0696368                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-57151.61    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Radware Ltd                                                                      | Radware, Ltd.                                                                    | CUSIP: M81873107<br>LEI: 254900LYRZOTBQ99ZG59 | Short            | EC               | CORP              | IL        |     -3751 | NS      | $-96025.60    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | VOLCON, INC.,Project Viper PIPE                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     23105 | NS      | $231050.00    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc                                                                     | Prologis, Inc.                                                                   | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Short            | EC               | CORP              | US        |      -336 | NS      | $-35878.08    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Sizzle Acquisition Corp Ii                                                       | Sizzle II VO Sponsor II, LLC Class A                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     93906 | NS      | $281.72       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Gcl Global Holdings Ltd                                                          | GCL Global Holdings, Ltd.                                                        | CUSIP: G3777K111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     19704 | NC      | $2183.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Chg Ln Trs:b45c9x4                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-321697.70   | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| Be Semiconductor Industries Nv                                                   | BE Semiconductor Industries NV                                                   | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Short            | EC               | CORP              | NL        |     -1112 | NS      | $-151139.72   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Crh Plc                                                                          | CRH PLC                                                                          | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Short            | EC               | CORP              | IE        |      -531 | NS      | $-50683.95    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Trn Ln Trs:bkdtk92                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-73653.35    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Msci Inc                                                                         | MSCI, Inc.                                                                       | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Short            | EC               | CORP              | US        |       -78 | NS      | $-43786.08    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: ZS0897679<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |  17000000 | PA      | $297500.00    | 0.08%             | 2024-04-11      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Spi Ln Trs:bnlpyf7                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-46139.30    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: EUR 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-35049192.00 | -9.47%            |  |  |  | No            | 2                  | On Loan: No      |
| Alphabet Inc                                                                     | Alphabet, Inc.                                                                   | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Short            | EC               | CORP              | US        |     -8827 | NS      | $-1702375.22  | -0.46%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | AEYE Health, Inc. SAFE                                                           | CUSIP: AEYESAFE2<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       293 | NS      | $293014.00    | 0.08%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Card Ln Trs:bly2f70                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-727.63      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Quantalx Neuroscience Ltd.                                                       | Quantalx Neuroscience Ltd.                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      3000 | NS      | $3415840.00   | 0.92%             |  |  |  | No            | 3                  | On Loan: No      |
| Cero Therapeutics Holdings Inc                                                   | CERo Therapeutics Holdings, Inc.                                                 | CUSIP: 71902K113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     21939 | NC      | $434.39       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Cohen Circle Sponsor II, LLC Class A                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     44405 | NS      | $444.05       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rmii Ln Trs:bymtbg5                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $441760.78    | 0.12%             |  |  |  | No            | 2                  | On Loan: No      |
| Natera Inc                                                                       | Natera, Inc.                                                                     | CUSIP: 632307104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -321 | NS      | $-42904.86    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| 10x Genomics Inc                                                                 | 10X Genomics, Inc.                                                               | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Short            | EC               | CORP              | US        |     -2482 | NS      | $-33382.90    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Kla Corp                                                                         | KLA Corp.                                                                        | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Short            | EC               | CORP              | US        |      -135 | NS      | $-118669.05   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Yamadai Corp                                                                     | Yamadai Corp.                                                                    | CUSIP: 008940116<br>LEI: N/A                  | N/A              | DE               | CORP              | JP        |      6212 | NC      | $10933.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cie Financiere Richemont Sa                                                      | Cie Financiere Richemont SA                                                      | CUSIP: H25662182<br>LEI: 549300YIPGJ6UX2QPS51 | Short            | EC               | CORP              | CH        |     -3105 | NS      | $-509950.14   | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | LightWave Founders Class A                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    208140 | NS      | $832.56       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Ormat Technologies Inc                                                           | Ormat Technologies, Inc.                                                         | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Short            | EC               | CORP              | US        |      -561 | NS      | $-50159.01    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Global Infrastructure Etf                                                | iShares Global Infrastructure ETF                                                | CUSIP: 464288372<br>LEI: 549300ZC2N3HUK3DTK30 | Short            | EC               | RF                | US        |     -6689 | NS      | $-395186.12   | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                                                                     | Alphabet, Inc.                                                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Short            | EC               | CORP              | US        |     -2773 | NS      | $-532138.70   | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| Soulpower Acquisition Corp                                                       | Soulpower Acquisition Sponsor LLC Class A                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    156445 | NS      | $625.78       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: EUR 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-2290797.00  | -0.62%            |  |  |  | No            | 2                  | On Loan: No      |
| Monday.com Ltd                                                                   | Monday.com, Ltd.                                                                 | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Short            | EC               | CORP              | IL        |      -216 | NS      | $-56654.64    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| United Homes Group Inc                                                           | United Homes Group, Inc.                                                         | CUSIP: 91060H116<br>LEI: 549300HWN3ECTEH7I380 | N/A              | DE               | CORP              | US        |      7770 | NC      | $7420.35      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Genesis Energy Lp                                                                | Genesis Energy LP                                                                | CUSIP: 371927104<br>LEI: 549300VJ5D6MDK138782 | Short            | EC               | CORP              | US        |     -1072 | NS      | $-18609.92    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Corpay Inc                                                                       | Corpay, Inc.                                                                     | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Short            | EC               | CORP              | US        |      -124 | NS      | $-40058.20    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5995                                              | CUSIP: 58599HC54<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        11 | NC      | $48730.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Spree Acquisition Corp 1 Ltd                                                     | Spree Acquisition Corp. 1, Ltd.                                                  | CUSIP: G83745128<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     20337 | NC      | $2.03         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| 24 Hour Fitness Worldwide Inc                                                    | 24 Hour Fitness Worldwide                                                        | CUSIP: 942CXZ002<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    306005 | NS      | $2142.04      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Allfunds Group Plc                                                               | Allfunds Group PLC                                                               | CUSIP: N/A<br>LEI: 9598005U8TZQ8Q64SC71       | Long             | EC               | CORP              | GB        |    342549 | NS      | $2384594.82   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Verisk Analytics Inc                                                             | Verisk Analytics, Inc.                                                           | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Short            | EC               | CORP              | US        |      -185 | NS      | $-51561.35    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Dsm-firmenich Ag                                                                 | DSM-Firmenich AG                                                                 | CUSIP: N/A<br>LEI: 506700G44V67MPM4BI12       | Short            | EC               | CORP              | CH        |     -1058 | NS      | $-102048.64   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Pembina Pipeline Corp                                                            | Pembina Pipeline Corp.                                                           | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Short            | EC               | CORP              | CA        |      -477 | NS      | $-17729.14    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Elm Ln Trs:0241854                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-73108.95    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Arbutus Biopharma Corp                                                           | Arbutus Biopharma Corp.                                                          | CUSIP: 03879J100<br>LEI: 25490064CESONAUIAS23 | Long             | EC               | CORP              | CA        |    243660 | NS      | $799204.80    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Media Corp-liberty Formula One                                           | Liberty Media Corp.-Liberty Formula One                                          | CUSIP: 531229755<br>LEI: 549300ZKUTPIBZLWLL89 | Short            | EC               | CORP              | US        |     -1062 | NS      | $-106571.70   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Exact Sciences Corp                                                              | Exact Sciences Corp.                                                             | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Short            | EC               | CORP              | US        |      -616 | NS      | $-28921.20    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Pioneer Acquisition 1 Sponsor Holdco LLC CLASS A                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    177613 | NS      | $710.45       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6120                                              | CUSIP: 58599HAB3<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        91 | NC      | $828100.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Roth Ch Acquisition Co                                                           | Roth CH Acquisition Co.                                                          | CUSIP: G88935120<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     48884 | NC      | $1710.94      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Snap Inc                                                                         | Snap, Inc.                                                                       | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |     99084 | NS      | $934362.12    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Springbig Holdings Inc                                                           | SpringBig Holdings, Inc.                                                         | CUSIP: 85021Q116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     24279 | NC      | $66.77        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-792818.00   | -0.21%            |  |  |  | No            | 2                  | On Loan: No      |
| Rr Donnelley & Sons Co                                                           | RR Donnelley & Sons Co.                                                          | CUSIP: 257867BK6<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   3610000 | PA      | $3533287.50   | 0.95%             | 2029-08-01      | Fixed         | 10.88%                | Yes           | 2                  | On Loan: No      |
| Jpmorgan Us Treasury Plus Money Market Fund                                      | JPMorgan US Treasury Plus Money Market Fund                                      | CUSIP: 4812C2734<br>LEI: 549300WIC5LVF25Z1127 | Long             | STIV             | RF                | US        |  14465707 | NS      | $14465706.64  | 3.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Muniyield New York Quality Fund Inc                                    | BlackRock MuniYield New York Quality Fund, Inc.                                  | CUSIP: 09255E102<br>LEI: 158AYFGDRFUGVL3TD012 | Long             | EC               | RF                | US        |        48 | NS      | $441.60       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Axiom Intelligence Holdings 1 LLC Class B                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17761 | NS      | $177610.00    | 0.05%             |  |  |  | No            | 3                  | On Loan: No      |
| Climaterock                                                                      | ClimateRock                                                                      | CUSIP: G2311X118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     11778 | NC      | $369.83       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                                                        | Baidu, Inc.                                                                      | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |     18367 | NS      | $1613908.29   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Celestica Inc                                                                    | Celestica, Inc.                                                                  | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Short            | EC               | CORP              | CA        |     -2386 | NS      | $-476865.96   | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Lseg Ln Trs:b0swjx3                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-63103.01    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Columbus Circle 1 Sponsor Corp LLC CL B                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3837 | NS      | $42130.26     | 0.01%             |  |  |  | No            | 3                  | On Loan: No      |
| Ubs Ag London                                                                    | UBS AG/London                                                                    | CUSIP: 22546VNQ5<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |    420000 | PA      | $299548.20    | 0.08%             | 2030-10-30      | Variable      | 3.39%                 | No            | 2                  | On Loan: No      |
| Capitalworks Emerging Markets Acquisition Corp                                   | Capitalworks Emerging Markets Acquisition Corp.                                  | CUSIP: G1889L126<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     69120 | NC      | $6912.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Ftse Emerging Markets Etf                                               | Vanguard FTSE Emerging Markets ETF                                               | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Short            | EC               | RF                | US        |   -291888 | NS      | $-14536022.40 | -3.93%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bznl Ln Trs:b0744b3                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-77008.69    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Asa Gold And Precious Metals Ltd                                                 | ASA Gold and Precious Metals, Ltd.                                               | CUSIP: G3156P103<br>LEI: 254900VOUR4617HGCL14 | Long             | EC               | RF                | US        |    163658 | NS      | $5065215.10   | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Conduit Pharmaceuticals Inc                                                      | Conduit Pharmaceuticals, Inc.                                                    | CUSIP: 20678X114<br>LEI: 8945004VIUFZVV38UL77 | N/A              | DE               | CORP              | US        |     51468 | NC      | $813.19       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pct Ln Trs:0422002                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $3241578.92   | 0.88%             |  |  |  | No            | 2                  | On Loan: No      |
| Toyo Co Ltd                                                                      | Toyo Co., Ltd.                                                                   | CUSIP: G8976D115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     23302 | NC      | $3145.77      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Live Nation Entertainment Inc                                                    | Live Nation Entertainment, Inc.                                                  | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Short            | EC               | CORP              | US        |      -344 | NS      | $-50808.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ccc Ln Trs:bv9fp30                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-163194.29   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Genmab A/s                                                                       | Genmab A/S                                                                       | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Short            | EC               | CORP              | DK        |      -102 | NS      | $-22417.15    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Oxig Ln Trs:0665045                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-192224.51   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | CEA Industries, Inc PIPE                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     30423 | NS      | $307272.30    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| TRAVELPORT TECHNOLOGY LIMITED                                                    | Travel Port Technology Ltd.                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        69 | NS      | $69000.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Red Violet Inc                                                                   | Red Violet, Inc.                                                                 | CUSIP: 75704L104<br>LEI: 549300T4EGADG881UU63 | Short            | EC               | CORP              | US        |      -671 | NS      | $-29745.43    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Muniholdings New York Quality Fund Inc                                 | BlackRock MuniHoldings New York Quality Fund, Inc.                               | CUSIP: 09255C106<br>LEI: YP1D2S6Y4JY0A7W3DV93 | Long             | EC               | RF                | US        |      1340 | NS      | $12743.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Reddit Inc                                                                       | Reddit, Inc.                                                                     | CUSIP: 75734B100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -89 | NS      | $-14292.51    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Jaws Mustang Acquisition Corp                                                    | Jaws Mustang Acquisition Corp.                                                   | CUSIP: G50737124<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     19820 | NC      | $867.13       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertex Inc                                                                       | Vertex, Inc.                                                                     | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |     24380 | NS      | $808684.60    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Roadzen Inc                                                                      | Roadzen, Inc.                                                                    | CUSIP: G7606H116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     55430 | NC      | $3597.41      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Iii Ln Trs:b1yw440                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-180304.27   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| Thermo Fisher Scientific Inc                                                     | Thermo Fisher Scientific, Inc.                                                   | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Short            | EC               | CORP              | US        |      -158 | NS      | $-73893.44    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Incyte Corp                                                                      | Incyte Corp.                                                                     | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Short            | EC               | CORP              | US        |      -610 | NS      | $-45682.90    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Fort Ln Trs:byyw3c2                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-41178.17    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Perimeter Acquisition Corp I                                                     | Perimeter Acquisition Corp. I                                                    | CUSIP: G7010A111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     64869 | NC      | $38824.10     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                                           | US 10yr T-Note                                                                   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |       -46 | NC      | $-5108875.00  | -1.38%            |  |  |  | No            | 1                  | On Loan: No      |
| Berto Acquisition Corp                                                           | BERTO ACQUISITION Corp.                                                          | CUSIP: G1051H127<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     97523 | NS      | $1058124.55   | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Currenc Group Inc                                                                | Currenc Group, Inc.                                                              | CUSIP: G47862126<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     55058 | NC      | $445.97       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New Providence Acquisition Corp Iii                                              | New Providence Holdings III, LLC CL A                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    166532 | NS      | $499.60       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | UNH CDS USD 12/27 ICE                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-4165.64     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: AM9155384<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   7985000 | PA      | $139737.50    | 0.04%             | 2025-03-23      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| N/A                                                                              | Pioneer Acquisition 1 Sponsor Holdco LLC CLASS B                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    222016 | NS      | $222016.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Tlgy Acquisition Corp                                                            | TLGY Acquisition Corp.                                                           | CUSIP: G8656T125<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     65630 | NC      | $59067.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Sempra                                                                           | Sempra                                                                           | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Short            | EC               | CORP              | US        |      -660 | NS      | $-53908.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Oneok Inc                                                                        | ONEOK, Inc.                                                                      | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Short            | EC               | CORP              | US        |      -931 | NS      | $-76444.41    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Mountain & Co I Acquisition Corp                                                 | Mountain & Co. I Acquisition Corp.                                               | CUSIP: G6301J112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     62660 | NC      | $811.45       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5975                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        14 | NC      | $47726.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Mountain Crest Acquisition Corp V                                                | Mountain Crest Acquisition Corp. V                                               | CUSIP: 62404B115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      8917 | NC      | $1406.66      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Iac Inc                                                                          | IAC, Inc.                                                                        | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Short            | EC               | CORP              | US        |     -2515 | NS      | $-98839.50    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Argo Investments Ltd                                                             | Argo Investments, Ltd.                                                           | CUSIP: Q05016102<br>LEI: 2138005T2FZP3AUV6X26 | Long             | EC               | CORP              | AU        |    139250 | NS      | $837615.52    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFJ8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    231000 | PA      | $138384.94    | 0.04%             | 2034-11-28      | Variable      | 3.46%                 | No            | 2                  | On Loan: No      |
| Us Treasury N/b                                                                  | U.S. Treasury Note                                                               | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -73541000 | PA      | $-73220692.17 | -19.78%           | 2030-06-30      | Fixed         | 3.88%                 | No            | 1                  | On Loan: No      |
| Sim Acquisition Corp I                                                           | SIM Acquisition Corp. I                                                          | CUSIP: G8431T119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     15808 | NC      | $5216.64      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P6000                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        12 | NC      | $55212.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Gsr Iii Acquisition Corp                                                         | GSR III Acquisition Corp.                                                        | CUSIP: G4R103131<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -606 | NC      | $-4054.14     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eve Mobility Acquisition Corp                                                    | EVe Mobility Acquisition Corp.                                                   | CUSIP: G3218G117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     27110 | NC      | $1221.31      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Newgenivf Group Ltd                                                              | NewGenIvf Group, Ltd.                                                            | CUSIP: G0544E113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |         1 | NC      | $0.02         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | RIT Capital Partners PLC TRS                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1627420.76   | 0.44%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YBJ9<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19211.40     | 0.01%             | 2037-05-31      | Variable      | 8.64%                 | No            | 2                  | On Loan: No      |
| Bny Mellon Strategic Municipal Bond Fund Inc                                     | BNY Mellon Strategic Municipal Bond Fund, Inc.                                   | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             | EC               | RF                | US        |       190 | NS      | $1050.70      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Blue Holdings Sponsor Class B                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17761 | NS      | $177610.00    | 0.05%             |  |  |  | No            | 3                  | On Loan: No      |
| Digital Asset Acquisition Corp                                                   | Digital Asset Acquisition Corp.                                                  | CUSIP: G2868C111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      6695 | NC      | $5858.13      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Graphjet Technology                                                              | Graphjet Technology                                                              | CUSIP: G30449121<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     45714 | NC      | $1508.56      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eversource Energy                                                                | Eversource Energy                                                                | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Short            | EC               | CORP              | US        |       -54 | NS      | $-3569.40     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | GEO Group, Inc. TRS                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $817983.36    | 0.22%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Jet2 Ln Trs:b1722w1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-171015.49   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5720                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |         3 | NC      | $930.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Fan Ln Trs:bn3zz52                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-660567.62   | -0.18%            |  |  |  | No            | 2                  | On Loan: No      |
| Ceva Inc                                                                         | CEVA, Inc.                                                                       | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Short            | EC               | CORP              | US        |     -1678 | NS      | $-35858.86    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Benevolentai                                                                     | BenevolentAI                                                                     | CUSIP: N/A<br>LEI: 2221003P54KEDC3P4Z33       | N/A              | DE               | CORP              | NL        |      7014 | NC      | $80.04        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NPC International, Inc.                                                          | NPC International, Inc.                                                          | CUSIP: 62936DAS9<br>LEI: 549300VENVGR7A6TZR37 | Long             | LON              | CORP              | US        |    605000 | PA      | $0.01         | 0.00%             | 2025-04-18      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ajb Ln Trs:bfznlb6                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-359106.68   | -0.10%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ipo Ln Trs:b128j45                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $1199484.65   | 0.32%             |  |  |  | No            | 2                  | On Loan: No      |
| Brookfield Corp                                                                  | Brookfield Corp.                                                                 | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Short            | EC               | CORP              | CA        |    -29835 | NS      | $-2000436.75  | -0.54%            |  |  |  | No            | 1                  | On Loan: No      |
| Hubspot Inc                                                                      | HubSpot, Inc.                                                                    | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Short            | EC               | CORP              | US        |       -91 | NS      | $-47288.15    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5755                                              | CUSIP: 58599H982<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |         8 | NC      | $2160.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Aberdeen Diversified Income and Growth Trust PLC                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $140416.31    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Inficon Holding Ag                                                               | Inficon Holding AG                                                               | CUSIP: N/A<br>LEI: 5067008UT6890I0YM937       | Short            | EC               | CORP              | CH        |       -97 | NS      | $-11751.06    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | AEYE Health, Inc. Warrants 2                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         6 | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Eon Resources Inc                                                                | EON Resources, Inc.                                                              | CUSIP: 40472A128<br>LEI: 254900A4Y0IPOJDRUY39 | N/A              | DE               | CORP              | US        |     44874 | NC      | $2243.70      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Healthcare Ai Acquisition Corp                                                   | Healthcare AI Acquisition Corp.                                                  | CUSIP: G4373K117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     18681 | NC      | $1693.43      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Page Ln Trs:3023231                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-249.42      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Modine Manufacturing Co                                                          | Modine Manufacturing Co.                                                         | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      6021 | NS      | $810185.76    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Angi Inc                                                                         | Angi, Inc.                                                                       | CUSIP: 00183L201<br>LEI: 5493003ENY577E6SZL06 | Short            | EC               | CORP              | US        |     -3495 | NS      | $-56688.90    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hils Ln Trs:0427030                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-225268.69   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| Allfunds Group Plc                                                               | Allfunds Group PLC                                                               | CUSIP: N/A<br>LEI: 9598005U8TZQ8Q64SC71       | Short            | EC               | CORP              | GB        |      -687 | NS      | $-4782.43     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Varonis Systems Inc                                                              | Varonis Systems, Inc.                                                            | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Short            | EC               | CORP              | US        |     -1416 | NS      | $-79055.28    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rsw Ln Trs:0732358                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-159751.06   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Newhold Investment Corp Iii                                                      | NewHold Investment Corp III Sponsor Shs Class B                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10948 | NS      | $108428.99    | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | MS.TB BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             | RF                | US        |  -1206040 | NS      | $-1206040.00  | -0.33%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5875                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        18 | NC      | $42624.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Eli Lilly & Co                                                                   | Eli Lilly & Co.                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Short            | EC               | CORP              | US        |      -191 | NS      | $-141353.37   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange Inc                                                    | Intercontinental Exchange, Inc.                                                  | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Short            | EC               | CORP              | US        |     -1546 | NS      | $-285747.18   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Credo Technology Group Holding Ltd                                               | Credo Technology Group Holding, Ltd.                                             | CUSIP: G25457105<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |      -437 | NS      | $-48747.35    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Moran Foods Llc                                                                  | Moran Foods Equity                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   3699885 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| 24 Hour Fitness Worldwide Inc                                                    | 24 Hour Fitness Worldwide, Inc.                                                  | CUSIP: 942DLY907<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    407959 | NS      | $2855.71      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Investcorp Europe Acquisition Corp I                                             | Investcorp Europe Acquisition Corp. I                                            | CUSIP: G4923T113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     24645 | NC      | $246.45       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Integrated Rail And Resources Acquisition Corp                                   | Integrated Rail and Resources Acquisition Corp.                                  | CUSIP: 45827R114<br>LEI: 549300G3080C4RIDLA64 | N/A              | DE               | CORP              | US        |     48608 | NC      | $14582.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Grid Ln Trs:bfx3k77                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $152508.16    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Uber Technologies, Inc. TRS                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $1040890.50   | 0.28%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1057091.00  | -0.29%            |  |  |  | No            | 2                  | On Loan: No      |
| Voyager Technologies Inc                                                         | Voyager Technologies, Inc.                                                       | CUSIP: 92892B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11180 | NS      | $447423.60    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5760                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |         9 | NC      | $3600.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: ZS0897661<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |  11180000 | PA      | $195650.00    | 0.05%             | 2049-12-31      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1057091.00  | -0.29%            |  |  |  | No            | 2                  | On Loan: No      |
| Titan Acquisition Corp                                                           | Titan Acquisition Sponsor Holdco, LLC Class A                                    | CUSIP: N/A<br>LEI: 724500IS1M4H9S4SDD39       | Long             | EC               | CORP              | US        |     93906 | NS      | $375.62       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Inch Ln Trs:b61tvq0                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-272437.56   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bab Ln Trs:0969703                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-250830.96   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Moran Foods Llc                                                                  | Moran Foods 10/23 2023 FLSO PIK TL2                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    968854 | PA      | $702419.11    | 0.19%             | 2026-12-31      | Floating      | 11.65%                | No            | 2                  | On Loan: No      |
| Commscope Holding Co Inc                                                         | CommScope Holding Co., Inc.                                                      | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |     83803 | NS      | $687184.60    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Ametek Inc                                                                       | AMETEK, Inc.                                                                     | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Short            | EC               | CORP              | US        |      -304 | NS      | $-56194.40    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pia At Trs:byw6809                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | AU        |         1 | NC      | $235774.44    | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Netflix Inc                                                                      | Netflix, Inc.                                                                    | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Short            | EC               | CORP              | US        |      -573 | NS      | $-664336.20   | -0.18%            |  |  |  | No            | 1                  | On Loan: No      |
| Abrdn Diversified Income And Growth Plc                                          | Abrdn Diversified Income and Growth PLC                                          | CUSIP: G5487A101<br>LEI: 2138003QINEGCHYGW702 | Long             | EC               | CORP              | GB        |      7080 | NS      | $4586.29      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Japan Smaller Capitalization Fund Inc                                            | Japan Smaller Capitalization Fund, Inc.                                          | CUSIP: 47109U104<br>LEI: 5493000KJSHWEB3YKZ37 | Long             | EC               | RF                | US        |      7763 | NS      | $75145.84     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Zapata Computing Holdings Inc                                                    | Zapata Computing Holdings, Inc.                                                  | CUSIP: 98906V118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     24523 | NC      | $0.02         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cme Group Inc                                                                    | CME Group, Inc.                                                                  | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Short            | EC               | CORP              | US        |     -1094 | NS      | $-304438.32   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Modivcare Inc                                                                    | ModivCare, Inc.                                                                  | CUSIP: 60783LAC4<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |   1846970 | PA      | $1185145.03   | 0.32%             | 2031-07-01      | Floating      | 9.05%                 | No            | 2                  | On Loan: No      |
| Canadian Pacific Kansas City Ltd                                                 | Canadian Pacific Kansas City, Ltd.                                               | CUSIP: 13646K108<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |    -11809 | NS      | $-868551.95   | -0.23%            |  |  |  | No            | 1                  | On Loan: No      |
| Deezer Sa                                                                        | Deezer SA                                                                        | CUSIP: N/A<br>LEI: 969500LM904RGABQUN96       | N/A              | DE               | CORP              | FR        |     95238 | NC      | $54.34        | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Draftkings Inc                                                                   | DraftKings, Inc.                                                                 | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Short            | EC               | CORP              | US        |     -5981 | NS      | $-269384.24   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Cyn Ln Trs:0035392                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $506295.59    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Srp Ln Trs:0797379                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-129628.58   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Cogent Communications Holdings Inc                                               | Cogent Communications Holdings, Inc.                                             | CUSIP: 19239V302<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -933 | NS      | $-42535.47    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Critical Metals Corp                                                             | Critical Metals Corp.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     50528 | NS      | $252640.00    | 0.07%             |  |  |  | No            | 3                  | On Loan: No      |
| Abrdn Life Sciences Investors                                                    | abrdn Life Sciences Investors                                                    | CUSIP: 87911K100<br>LEI: 5493007BYZPSOVVS0M04 | Long             | EC               | RF                | US        |     29264 | NS      | $384236.32    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Whitefield Industrials Ltd                                                       | Whitefield Industrials, Ltd.                                                     | CUSIP: Q97632105<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      3656 | NS      | $13345.30     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eqv Ventures Acquisition Corp                                                    | EQV Ventures Acquisition Corp.                                                   | CUSIP: G3106N117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     37448 | NC      | $29211.31     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Amc Entertainment Hldgs                                                          | AMC Entertainment Holdings, Inc.                                                 | CUSIP: 00164CAD7<br>LEI: 549300ZO77UNR6NRBR11 | Long             | LON              | CORP              | US        |   3059665 | PA      | $3085962.48   | 0.83%             | 2029-01-04      | Floating      | 11.35%                | No            | 2                  | On Loan: No      |
| A Spac Ii Acquisition Corp                                                       | A SPAC II Acquisition Corp.                                                      | CUSIP: G0543H133<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     68843 | NC      | $1376.86      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5885                                              | CUSIP: 58599H9P4<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        22 | NC      | $75900.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Walt Disney Co                                                                   | Walt Disney Co.                                                                  | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Short            | EC               | CORP              | US        |     -1458 | NS      | $-173662.38   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv G24 Gr Trs:byt9340                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | DE        |         1 | NC      | $-10048.27    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Descartes Systems Group Inc/the                                                  | Descartes Systems Group, Inc.                                                    | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Short            | EC               | CORP              | CA        |      -313 | NS      | $-33068.76    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Marvell Technology Inc                                                           | Marvell Technology, Inc.                                                         | CUSIP: 573874104<br>LEI: 8DF36O58U3QIHUCGZB18 | Short            | EC               | CORP              | US        |       -72 | NS      | $-5786.64     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Diversified United Investment Ltd                                                | Diversified United Investment, Ltd.                                              | CUSIP: Q3212S108<br>LEI: 254900ENGLQ9SQJJCR84 | Long             | EC               | CORP              | AU        |     55728 | NS      | $196258.14    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Us Bancorp                                                                       | US Bancorp                                                                       | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Short            | EC               | CORP              | US        |     -1077 | NS      | $-48421.92    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Integer Holdings Corp                                                            | Integer Holdings Corp.                                                           | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Short            | EC               | CORP              | US        |      -340 | NS      | $-36893.40    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | JP.CS BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  35338044 | NS      | $35338043.54  | 9.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Apx Acquisition Corp I                                                           | APx Acquisition Corp. I                                                          | CUSIP: G0440J125<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      3981 | NC      | $238.66       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Integrated Wellness Acquisition Corp                                             | Integrated Wellness Acquisition Corp.                                            | CUSIP: G4828B118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      1475 | NC      | $29.94        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackline Inc                                                                    | BlackLine, Inc.                                                                  | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Short            | EC               | CORP              | US        |       -32 | NS      | $-1720.96     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Shopify Inc                                                                      | Shopify, Inc.                                                                    | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Short            | EC               | CORP              | CA        |      -460 | NS      | $-56216.60    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Schroder British Opportunities Trust Plc                                         | Schroder British Opportunities Trust PLC                                         | CUSIP: G78542100<br>LEI: 5493003UY8LIHFW6HM02 | Long             | EC               | CORP              | GB        |   1453746 | NS      | $1420723.77   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Antero Midstream Corp                                                            | Antero Midstream Corp.                                                           | CUSIP: 03676B102<br>LEI: 529900HFO1BDEIT4QU11 | Short            | EC               | CORP              | US        |     -1026 | NS      | $-18827.10    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Core Msci Emerging Markets Etf                                           | iShares Core MSCI Emerging Markets ETF                                           | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Short            | EC               | RF                | US        |    -50175 | NS      | $-3027057.75  | -0.82%            |  |  |  | No            | 1                  | On Loan: No      |
| Enterprise Products Partners Lp                                                  | Enterprise Products Partners LP                                                  | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Short            | EC               | CORP              | US        |    -11026 | NS      | $-341695.74   | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Cantor Equity Partners Ii Inc                                                    | Cantor Equity Partners II, Inc.                                                  | CUSIP: G1827P106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     39572 | NS      | $425399.00    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Att Ln Trs:bng2m15                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $893844.37    | 0.24%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YAM3<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |   2289000 | PA      | $1774895.18   | 0.48%             | 2036-08-31      | Variable      | 8.64%                 | No            | 2                  | On Loan: No      |
| Longevity Health Holdings Inc                                                    | Longevity Health Holdings, Inc.                                                  | CUSIP: 142922111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      3816 | NC      | $101.89       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Datadog Inc                                                                      | Datadog, Inc.                                                                    | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Short            | EC               | CORP              | US        |     -1033 | NS      | $-144599.34   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Globalink Investment Inc                                                         | Globalink Investment, Inc.                                                       | CUSIP: 37892F125<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     14771 | NC      | $590.84       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dt Midstream Inc                                                                 | DT Midstream, Inc.                                                               | CUSIP: 23345M107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -211 | NS      | $-21676.03    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Sonnet BioTherapeutics Holdings, Inc                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    369687 | NS      | $462108.20    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Blue Gold Ltd                                                                    | Blue Gold, Ltd.                                                                  | CUSIP: G1331C112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     31463 | NC      | $14771.88     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aura Fat Projects Acquisition Corp                                               | Aura FAT Projects Acquisition Corp.                                              | CUSIP: G06362126<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     58439 | NC      | $1683.04      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Oyster Enterprises II LLC CL B                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21976 | NS      | $219760.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Aurora Innovation Inc                                                            | Aurora Innovation, Inc.                                                          | CUSIP: 051774107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -24298 | NS      | $-141171.38   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Eqv Ventures Acquisition Corp Ii                                                 | EQV Ventures Acquisition Corp. II                                                | CUSIP: G3106Q110<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     60591 | NS      | $611363.19    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| A Spac Ii Acquisition Corp                                                       | A SPAC II Acquisition Corp.                                                      | CUSIP: G0543H117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     34421 | NC      | $688.42       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Jfrog Ltd                                                                        | JFrog, Ltd.                                                                      | CUSIP: M6191J100<br>LEI: 2549002N8E00AY49G567 | Short            | EC               | CORP              | IL        |     -1294 | NS      | $-56172.54    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Genpact Ltd                                                                      | Genpact, Ltd.                                                                    | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Short            | EC               | CORP              | BM        |     -1313 | NS      | $-57837.65    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Cvsg Ln Trs:b286382                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-37381.67    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Hilton Worldwide Holdings Inc                                                    | Hilton Worldwide Holdings, Inc.                                                  | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Short            | EC               | CORP              | US        |     -4384 | NS      | $-1175262.72  | -0.32%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5880                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        57 | NC      | $194085.00    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ent Ln Trs:b5vqmv6                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-133553.75   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Geo Group Inc/the                                                                | GEO Group, Inc.                                                                  | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |     17887 | NS      | $463631.04    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | UnitedHealth Group, Inc.                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $177238.01    | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-29917109.00 | -8.08%            |  |  |  | No            | 2                  | On Loan: No      |
| Compass Pathways Plc                                                             | Compass Pathways PLC                                                             | CUSIP: 20451W101<br>LEI: 213800N7CUZIC6QSTZ31 | Long             | EC               | CORP              | GB        |     61188 | NS      | $266167.80    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| LONGVIEW POWER LLC                                                               | Longview Power LLC                                                               | CUSIP: 976FKK902<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61813 | NS      | $1081727.50   | 0.29%             |  |  |  | No            | 2                  | On Loan: No      |
| Qualys Inc                                                                       | Qualys, Inc.                                                                     | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Short            | EC               | CORP              | US        |      -646 | NS      | $-85963.22    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Global X Uranium Etf                                                             | Global X Uranium ETF                                                             | CUSIP: 37954Y871<br>LEI: 549300FJZ5SE0HHSHI40 | Short            | EC               | RF                | US        |     -5931 | NS      | $-233444.16   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Cartica Acquisition Corp                                                         | Cartica Acquisition Corp.                                                        | CUSIP: G1995D117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     74354 | NC      | $17101.42     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Knos Ln Trs:bz0d672                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-85297.41    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPXW US 07/31/25 P5460                                             | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        35 | NC      | $87.50        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Level 3 Financing Inc                                                            | Level 3 Financing, Inc.                                                          | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   3706600 | PA      | $3215475.50   | 0.87%             | 2030-10-15      | Fixed         | 3.88%                 | Yes           | 2                  | On Loan: No      |
| Lineage Inc                                                                      | Lineage, Inc.                                                                    | CUSIP: 53566V106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1425 | NS      | $-61488.75    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6165                                              | CUSIP: 58599HSS7<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        89 | NC      | $857960.00    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QHW7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     80000 | PA      | $55171.76     | 0.01%             | 2030-10-30      | Variable      | 3.12%                 | No            | 2                  | On Loan: No      |
| Williams Cos Inc/the                                                             | Williams Cos., Inc.                                                              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Short            | EC               | CORP              | US        |     -2164 | NS      | $-129731.80   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Cloudflare Inc                                                                   | Cloudflare, Inc.                                                                 | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Short            | EC               | CORP              | US        |     -4717 | NS      | $-979626.56   | -0.26%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | MI7 Founders, LLC (MBAV) Class Z Warrants                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |    102783 | NC      | $139784.88    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Baidu, Inc. TRS                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $630994.47    | 0.17%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Vg1 At Trs:bf5v8z3                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | AU        |         1 | NC      | $535352.11    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| CPC Acquisition Corp.                                                            | CPC Acquisition Corp.                                                            | CUSIP: 44931VAH6<br>LEI: 254900UFA4AMH3PZZW32 | Long             | LON              | CORP              | US        |    175000 | PA      | $88302.38     | 0.02%             | 2028-12-29      | Floating      | 12.31%                | No            | 2                  | On Loan: No      |
| N/A                                                                              | MS.CD BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             | RF                | US        |   -910000 | NS      | $-910000.00   | -0.25%            |  |  |  | No            | 1                  | On Loan: No      |
| Rivian Automotive Inc                                                            | Rivian Automotive, Inc.                                                          | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Short            | EC               | CORP              | US        |      -911 | NS      | $-11724.57    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Emerging Markets Ltd                                                    | Fidelity Emerging Markets, Ltd.                                                  | CUSIP: G3823U170<br>LEI: 213800HWWQPUJ4K1GS84 | Long             | EC               | CORP              | GB        |    932297 | NS      | $10268564.42  | 2.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Eaton Vance California Municipal Bond Fund                                       | Eaton Vance California Municipal Bond Fund                                       | CUSIP: 27828A100<br>LEI: 549300FJGD8HWP11TO17 | Long             | EC               | RF                | US        |     59833 | NS      | $527727.06    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Smsn Li Trs:4942818                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $-76677.00    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Britol-Myers Squibb                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $195993.16    | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Civitas Resources Inc                                                            | Civitas Resources, Inc.                                                          | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Short            | EC               | CORP              | US        |      -386 | NS      | $-11718.96    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Anni Ln Trs:0604877                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $906306.60    | 0.24%             |  |  |  | No            | 2                  | On Loan: No      |
| Argo Global Listed Infrastructure Ltd                                            | Argo Global Listed Infrastructure, Ltd.                                          | CUSIP: Q05194107<br>LEI: 213800D6B28GSXHHX388 | Long             | EC               | CORP              | AU        |      6263 | NS      | $9378.04      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bion Sw Trs:7117884                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CH        |         1 | NC      | $770091.97    | 0.21%             |  |  |  | No            | 2                  | On Loan: No      |
| Symphony International Holdings Ltd                                              | Symphony International Holdings, Ltd.                                            | CUSIP: G54812105<br>LEI: 254900MQE84GV5DS6F03 | Long             | EC               | CORP              | VG        |     31566 | NS      | $12942.06     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mab1 Ln Trs:bqsbh50                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-61755.55    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Iron Horse II Sponsor Class A                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    172589 | NS      | $690.36       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Inspire Medical Systems Inc                                                      | Inspire Medical Systems, Inc.                                                    | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Short            | EC               | CORP              | US        |      -676 | NS      | $-84189.04    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Bumble Inc                                                                       | Bumble, Inc.                                                                     | CUSIP: 12047B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1057465 | NS      | $8227077.70   | 2.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                                                                    | Coherent Corp.                                                                   | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Short            | EC               | CORP              | US        |      -269 | NS      | $-28944.40    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Usa Ln Trs:bdfghw4                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $11129592.78  | 3.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Littelfuse Inc                                                                   | Littelfuse, Inc.                                                                 | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Short            | EC               | CORP              | US        |      -160 | NS      | $-41172.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Technology & Telecommunication Acquisition Corp                                  | Technology & Telecommunication Acquisition Corp.                                 | CUSIP: G87119114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     52993 | NC      | $1563.29      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Msci Acwi Etf                                                            | iShares MSCI ACWI ETF                                                            | CUSIP: 464288257<br>LEI: 549300KZ2WFTI4GQ7M77 | Short            | EC               | RF                | US        |    -80472 | NS      | $-10458141.12 | -2.83%            |  |  |  | No            | 1                  | On Loan: No      |
| Benson Hill Inc                                                                  | Benson Hill, Inc.                                                                | CUSIP: 082490202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3906 | NS      | $0.39         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Airjoule Technologies Corp                                                       | AirJoule Technologies Corp.                                                      | CUSIP: 612160119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     37175 | NC      | $25279.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Si-bone Inc                                                                      | SI-BONE, Inc.                                                                    | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Short            | EC               | CORP              | US        |     -2521 | NS      | $-42932.63    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Rrd Parent Inc                                                                   | RRD Parent, Inc.                                                                 | CUSIP: 74983T110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        19 | NC      | $121600.00    | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | Trump Media & Technology Group                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     56822 | NS      | $999498.98    | 0.27%             |  |  |  | No            | 2                  | On Loan: No      |
| Deezer Sa                                                                        | Deezer SA                                                                        | CUSIP: N/A<br>LEI: 969500LM904RGABQUN96       | Long             | EC               | CORP              | FR        |      8179 | NS      | $11574.01     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | RRD CDS USD 6/29 OTC                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-18251.70    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | CANTOR EQUITY PARTNERS I, INC. Project Enigma PIPE                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     77018 | NS      | $770180.00    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Stj Ln Trs:0766937                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-268456.79   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| ICE Futures Europe Financials                                                    | FTSE 250 Index FU Sep25                                                          | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | N/A              | DE               | CORP              | GB        |      -152 | NC      | $-8813269.94  | -2.38%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv You Ln Trs:b1vq6h2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-44842.79    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Verde Clean Fuels Inc                                                            | Verde Clean Fuels, Inc.                                                          | CUSIP: 923372114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       327 | NC      | $51.34        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays                                                                         | NextEra Energy Capital Holdings, Inc.                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $72810.24     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Blackrock Smaller Cos Trust Plc                                                  | BlackRock Smaller Cos. Trust PLC                                                 | CUSIP: G1314X109<br>LEI: 549300MS535KC2WH4082 | Long             | EC               | CORP              | GB        |     71210 | NS      | $1248902.27   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                                                                   | Microsoft Corp.                                                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Short            | EC               | CORP              | US        |      -654 | NS      | $-348909.00   | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Profusa Inc                                                                      | Profusa, Inc.                                                                    | CUSIP: 74319X116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     19197 | NC      | $3820.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinstripes Holdings Inc                                                          | Pinstripes Holdings, Inc.                                                        | CUSIP: 06690B115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     45560 | NC      | $430.54       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP Paribas                                                                      | MARKIT CDX HY S43 5Y 2/29 ICE                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-10397781.92 | -2.81%            |  |  |  | No            | 2                  | On Loan: No      |
| Cactus Acquisition Corp 1 Ltd                                                    | Cactus Acquisition Corp. 1, Ltd.                                                 | CUSIP: G1745A124<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     21180 | NC      | $423.60       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs                                                                    | International Business Machines                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $402032.97    | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| Vertical Aerospace Ltd                                                           | Vertical Aerospace, Ltd.                                                         | CUSIP: G9471C149<br>LEI: 9845002F3CF4E56DA491 | N/A              | DE               | CORP              | GB        |    484471 | NC      | $2145591.25   | 0.58%             |  |  |  | No            | 3                  | On Loan: No      |
| Tandem Diabetes Care Inc                                                         | Tandem Diabetes Care, Inc.                                                       | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Short            | EC               | CORP              | US        |      -761 | NS      | $-11856.38    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QES9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6299.31      | 0.00%             | 2034-08-29      | Variable      | 2.23%                 | No            | 2                  | On Loan: No      |
| Compass Diversified Holdings                                                     | Compass Diversified Holdings                                                     | CUSIP: 20451Q104<br>LEI: 5299001SM1LBYANJRR58 | Long             | EC               | CORP              | US        |     36282 | NS      | $231841.98    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Hearts And Minds Investments Ltd/fund                                            | Hearts and Minds Investments, Ltd.                                               | CUSIP: Q4524H103<br>LEI: 2549002S6SA5DJZXRD63 | Long             | EC               | CORP              | AU        |   1096098 | NS      | $2373848.22   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Arbutus Biopharma Corp. TRS                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $69631.12     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Imi Ln Trs:bglp8l2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-158345.38   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Lifezone Metals Ltd                                                              | Lifezone Metals, Ltd.                                                            | CUSIP: G5568L117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     46667 | NC      | $17966.80     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QDN1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    266000 | PA      | $161815.51    | 0.04%             | 2033-10-31      | Variable      | 1.64%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Svs Ln Trs:b135bj4                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-41114.90    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Alibaba Group Holding Ltd                                                        | Alibaba Group Holding, Ltd.                                                      | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Short            | EC               | CORP              | CN        |     -2176 | NS      | $-262490.88   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5705                                              | CUSIP: 58599H925<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |         3 | NC      | $690.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cycurion Inc                                                                     | Cycurion, Inc.                                                                   | CUSIP: 95758L115<br>LEI: 5493003I8CYRIJL4WQ06 | N/A              | DE               | CORP              | US        |     29980 | NC      | $1561.96      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Avi Global Trust PLC TRS                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1645963.47   | 0.44%             |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5985                                              | CUSIP: 58599HC47<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        18 | NC      | $58752.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Bayer Ag                                                                         | Bayer AG                                                                         | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Short            | EC               | CORP              | DE        |      -687 | NS      | $-21273.98    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | GS.FU BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   2563007 | NS      | $2563006.71   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Vortex Opco Llc                                                                  | Vortex Opco LLC                                                                  | CUSIP: G9158TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   3436000 | PA      | $3438697.26   | 0.93%             | 2030-04-30      | Floating      | 10.55%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Caml Ln Trs:b67kbv2                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-2211.86     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Snr Ln Trs:0795823                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-1990.12     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Icahn Enterprises/fin                                                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp.                           | CUSIP: 451102BZ9<br>LEI: 549300T0G4GS0SINS786 | Short            | DBT              | CORP              | US        |  -3169000 | PA      | $-3097697.50  | -0.84%            | 2027-05-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Alph Ln Trs:bf1tm59                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-231077.19   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFP4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     69000 | PA      | $42031.35     | 0.01%             | 2035-01-30      | Variable      | 3.57%                 | No            | 2                  | On Loan: No      |
| Bitwise 10 Crypto Index Fund                                                     | Bitwise 10 Crypto Index Fund                                                     | CUSIP: 091749101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    124422 | NS      | $9190779.41   | 2.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Dish Network Corp                                                                | DISH Network Corp.                                                               | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   3401000 | PA      | $3562547.50   | 0.96%             | 2027-11-15      | Fixed         | 11.75%                | Yes           | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Verizon CDS USD 4Y 12/27                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $110801.25    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | GS.SWP.ST BROKER SWEEP                                                           | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             | RF                | US        |   -410000 | NS      | $-410000.00   | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Relativity Acquisition Corp                                                      | Relativity Acquisition Corp.                                                     | CUSIP: 75944B114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     45142 | NC      | $2126.19      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Duolingo Inc                                                                     | Duolingo, Inc.                                                                   | CUSIP: 26603R106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -837 | NS      | $-290062.35   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Aker Asa                                                                         | Aker ASA                                                                         | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ10071       | Short            | EC               | CORP              | NO        |      -922 | NS      | $-63584.98    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Recordati Industria Chimica E Farmaceutica Spa                                   | Recordati Industria Chimica e Farmaceutica SpA                                   | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Short            | EC               | CORP              | IT        |      -785 | NS      | $-45150.47    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFE9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    357000 | PA      | $217978.13    | 0.06%             | 2034-10-31      | Variable      | 3.02%                 | No            | 2                  | On Loan: No      |
| N/A                                                                              | TD.PL BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    143385 | NS      | $143384.96    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rmv Ln Trs:bgdt3g2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-130368.42   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs                                                                    | MARKIT CDX HY S44 5Y 6/30 ICE                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $14860117.97  | 4.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Cannae Holdings Inc                                                              | Cannae Holdings, Inc.                                                            | CUSIP: 13765N107<br>LEI: 549300OGRF1ICI7D2V77 | Long             | EC               | CORP              | US        |    322675 | NS      | $6898791.50   | 1.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Chipotle Mexican Grill Inc                                                       | Chipotle Mexican Grill, Inc.                                                     | CUSIP: 169656105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -19841 | NS      | $-850782.08   | -0.23%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-792818.00   | -0.21%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YBC4<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |    747000 | PA      | $536971.24    | 0.15%             | 2037-03-31      | Variable      | 6.16%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Baillie Gifford European Growth Trust PLC                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $516812.47    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Sync Ln Trs:b8p59c0                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GG        |         1 | NC      | $977150.36    | 0.26%             |  |  |  | No            | 2                  | On Loan: No      |
| Real View Imaging Ltd                                                            | Real View Imaging Ltd                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      2250 | NS      | $2303475.00   | 0.62%             |  |  |  | No            | 3                  | On Loan: No      |
| Barclays                                                                         | CommScope CDS USD 06/20/2030                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-410700.70   | -0.11%            |  |  |  | No            | 2                  | On Loan: No      |
| Chegg Inc                                                                        | Chegg, Inc.                                                                      | CUSIP: 163092109<br>LEI: 549300AKX7O8JG0O3G77 | Short            | EC               | CORP              | US        |    -14927 | NS      | $-19554.37    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Eden Fp Trs:b62g1b5                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $-15938.83    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gftu Ln Trs:b00mz44                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-170230.72   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| ASX Trade24                                                                      | SPI 200 FUTURES   Sep25                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | AU        |       -12 | NC      | $-1677891.60  | -0.45%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Cohen Circle Sponsor II, LLC Class B                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8881 | NS      | $88810.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Sct Ln Trs:byzdvk8                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-275617.27   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5790                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        13 | NC      | $3705.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Xcel Energy Inc                                                                  | Xcel Energy, Inc.                                                                | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Short            | EC               | CORP              | US        |       -43 | NS      | $-3157.92     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P6005                                              | CUSIP: 58599HA07<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        26 | NC      | $106080.00    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Tortoise Energy Infrastructure Corp                                              | Tortoise Energy Infrastructure Fund, Inc.                                        | CUSIP: 89147L886<br>LEI: 5493008P735YB22YPB89 | Long             | EC               | RF                | US        |     24609 | NS      | $1066554.08   | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rmmc Ln Trs:bndmjp1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1135357.37   | 0.31%             |  |  |  | No            | 2                  | On Loan: No      |
| Liminatus Pharma Inc                                                             | Liminatus Pharma, Inc.                                                           | CUSIP: 53271X116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     27683 | NC      | $5622.42      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Dge Ln Trs:0237400                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-59221.61    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Super Micro Computer Inc                                                         | Super Micro Computer, Inc.                                                       | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Short            | EC               | CORP              | US        |     -3556 | NS      | $-209697.32   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Grayscale Bitcoin Trust Etf                                                      | Grayscale Bitcoin Trust ETF                                                      | CUSIP: 389637109<br>LEI: 549300XZGUJEF0EHBE41 | Short            | EC               | RF                | US        |   -186747 | NS      | $-17139639.66 | -4.63%            |  |  |  | No            | 1                  | On Loan: No      |
| Next.e.go Nv                                                                     | Next.e.GO NV                                                                     | CUSIP: N63018118<br>LEI: 984500J696437146SA29 | Long             | EC               | CORP              | NL        |      5788 | NS      | $0.58         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Yotta Acquisition Corp                                                           | Yotta Acquisition Corp.                                                          | CUSIP: 98741Y111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     47369 | NC      | $1894.76      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Altice France Sa                                                                 | Altice France SA                                                                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1322000 | PA      | $1156750.00   | 0.31%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6140                                              | CUSIP: 58599HEZ6<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        74 | NC      | $690568.00    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Pegasystems Inc                                                                  | Pegasystems, Inc.                                                                | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Short            | EC               | CORP              | US        |     -3146 | NS      | $-184701.66   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Cannae Holdings, Inc. TRS                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $137922.38    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFG4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    181000 | PA      | $111306.67    | 0.03%             | 2034-10-31      | Variable      | 2.16%                 | No            | 2                  | On Loan: No      |
| Spectaire Holdings Inc                                                           | Spectaire Holdings, Inc.                                                         | CUSIP: 84753T117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     58258 | NC      | $250.51       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Target Global Acquisition I Corp                                                 | Target Global Acquisition I Corp.                                                | CUSIP: G8675N125<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     18073 | NC      | $213.26       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Yotta Acquisition Corp                                                           | Yotta Acquisition Corp.                                                          | CUSIP: 98741Y129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     29452 | NC      | $5021.57      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Cre Ln Trs:bn133n2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-1909.27     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P6015                                              | CUSIP: 58599HA15<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        16 | NC      | $72160.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Real Messenger Corp                                                              | Real Messenger Corp.                                                             | CUSIP: G7410G114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     31088 | NC      | $1554.40      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Monolithic Power Systems Inc                                                     | Monolithic Power Systems, Inc.                                                   | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Short            | EC               | CORP              | US        |       -54 | NS      | $-38406.96    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Zeo Energy Corp                                                                  | Zeo Energy Corp.                                                                 | CUSIP: 98944F117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     61117 | NC      | $2936.67      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Science And Technology Term Trust                                      | BlackRock Science and Technology Term Trust                                      | CUSIP: 09260K101<br>LEI: 549300NQ3IL1NKVC9M67 | Long             | EC               | RF                | US        |      3629 | NS      | $77188.83     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Lloyds Banking Group PLC TRS                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-98240.48    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Templeton EM Investment Trust PLC TRS                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $3764677.76   | 1.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Future Generation Global Ltd                                                     | Future Generation Global, Ltd.                                                   | CUSIP: Q39694106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     97911 | NS      | $98473.53     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Jdg Ln Trs:3239867                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-30903.33    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Patria Latin American Opportunity Acquisition Corp                               | Patria Latin American Opportunity Acquisition Corp.                              | CUSIP: G69454117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     46145 | NC      | $1739.67      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Melar Acquisition Corp I                                                         | Melar Acquisition Corp. I                                                        | CUSIP: G6004G118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     42372 | NC      | $8389.66      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sharkninja Inc                                                                   | SharkNinja, Inc.                                                                 | CUSIP: G8068L108<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |     -1203 | NS      | $-139668.30   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Hennessy Capital Investment Corp Vii                                             | Hennessy Capital Investment Corp. VII                                            | CUSIP: G4405D115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     14189 | NC      | $3900.56      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gsr Iii Acquisition Corp                                                         | GSR III Acquisition Corp.                                                        | CUSIP: G4R103131<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       606 | NC      | $4054.14      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Berto Acquisition Corp                                                           | BERTO ACQUISITION Corp.                                                          | CUSIP: G1051H119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      9199 | NC      | $6899.25      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Profusa Inc                                                                      | Profusa, Inc.                                                                    | CUSIP: 74319X108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3848 | NS      | $2693.74      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cartesian Growth Corp Ii                                                         | Cartesian Growth Corp. II                                                        | CUSIP: G19305120<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      5984 | NC      | $957.14       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Flyexclusive Inc                                                                 | flyExclusive, Inc.                                                               | CUSIP: 343928115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     27981 | NC      | $1957.27      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Telephone And Data Systems Inc                                                   | Telephone and Data Systems, Inc.                                                 | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16346 | NS      | $638147.84    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Tortoise Sustainable And Social Impact Term Fund                                 | Tortoise Sustainable and Social Impact Term Fund                                 | CUSIP: 27901F109<br>LEI: 549300JEEQF7C836SM26 | Long             | EC               | RF                | US        |     37011 | NS      | $449683.65    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Biotechnology Etf                                                        | iShares Biotechnology ETF                                                        | CUSIP: 464287556<br>LEI: 549300S7IVD88MPK0066 | Short            | EC               | RF                | US        |    -24089 | NS      | $-3198055.64  | -0.86%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | FIGX Acquisition Partners LLC Class A                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     14061 | NS      | $140610.00    | 0.04%             |  |  |  | No            | 3                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6150                                              | CUSIP: 475995999<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        66 | NC      | $536580.00    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Allurion Technologies Inc                                                        | Allurion Technologies, Inc.                                                      | CUSIP: 02008G110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     16492 | NC      | $687.72       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Exor Nv                                                                          | EXOR NV                                                                          | CUSIP: B06HZC902<br>LEI: 5493002ENHZ6NYET7405 | Short            | EC               | CORP              | NL        |      -336 | NS      | $-32496.83    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Energy Transfer Lp                                                               | Energy Transfer LP                                                               | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Short            | EC               | CORP              | US        |    -23653 | NS      | $-426700.12   | -0.12%            |  |  |  | No            | 1                  | On Loan: No      |
| Roblox Corp                                                                      | ROBLOX Corp.                                                                     | CUSIP: 771049103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3918 | NS      | $-539861.22   | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| BNY Mellon U.S. Treasury Fund                                                    | BNY Mellon U.S. Treasury Fund                                                    | CUSIP: G1206E136<br>LEI: N/A                  | Long             | STIV             | RF                | IE        |   4316394 | NS      | $4316394.39   | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Cid Holdco Inc                                                                   | CID Holdco, Inc.                                                                 | CUSIP: 171756117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     94845 | NC      | $13752.53     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Herald Investment Trust PLC                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $9372366.09   | 2.53%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | LightWave Founders Class B                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20814 | NS      | $208140.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Markit iTraxx Europe Subordinated Financials Series 39                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-434103.27   | -0.12%            |  |  |  | No            | 2                  | On Loan: No      |
| Captivision Inc                                                                  | Captivision, Inc.                                                                | CUSIP: G18932114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     43794 | NC      | $1103.61      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Argenx Se                                                                        | Argenx SE                                                                        | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Short            | EC               | CORP              | NL        |      -229 | NS      | $-155337.51   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| American Express Co                                                              | American Express Co.                                                             | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Short            | EC               | CORP              | US        |     -1352 | NS      | $-404667.12   | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Moran Foods Llc                                                                  | Moran Foods LLC                                                                  | CUSIP: 61647DAN2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    927417 | PA      | $672377.64    | 0.18%             | 2026-06-30      | Floating      | 11.65%                | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: CAD 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $651681.00    | 0.18%             |  |  |  | No            | 2                  | On Loan: No      |
| Howard Hughes Holdings Inc                                                       | Howard Hughes Holdings, Inc.                                                     | CUSIP: 44267T102<br>LEI: 254900TY494BHXIU6M60 | Short            | EC               | CORP              | US        |    -14695 | NS      | $-1009987.35  | -0.27%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mony Ln Trs:b1zbky8                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-100831.81   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pru Ln Trs:0709954                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-124459.01   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Neste Oyj                                                                        | Neste Oyj                                                                        | CUSIP: N/A<br>LEI: 5493009GY1X8GQ66AM14       | Short            | EC               | CORP              | FI        |     -1283 | NS      | $-20256.67    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Marsh & Mclennan Cos Inc                                                         | Marsh & McLennan Cos., Inc.                                                      | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |      -495 | NS      | $-98604.00    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Luce Ln Trs:bzc0lp4                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-56384.57    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Taiwan Fund Inc/the/md                                                           | Taiwan Fund, Inc.                                                                | CUSIP: 874036106<br>LEI: 549300B0OHIYIAWV0Z83 | Long             | EC               | RF                | US        |      3223 | NS      | $147565.06    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Real Asset Acquisition Corp                                                      | Real Asset Acquisition Corp.                                                     | CUSIP: G73944129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     99345 | NS      | $1048586.48   | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mut Ln Trs:0611112                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $4634.83      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: SEK 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-2729350.00  | -0.74%            |  |  |  | No            | 2                  | On Loan: No      |
| Saba Capital Income & Opportunities Fund Ii                                      | Saba Capital Income & Opportunities Fund II                                      | CUSIP: 880198205<br>LEI: QU1AAXOSV5K4OVMXJP19 | Long             | EC               | RF                | US        |     85919 | NS      | $800765.08    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6290                                              | CUSIP: 58599HRA7<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        53 | NC      | $693240.00    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Israel Acquisitions Corp                                                         | Israel Acquisitions Corp.                                                        | CUSIP: G49667119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     35717 | NC      | $6107.61      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: EUR 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $572699.00    | 0.15%             |  |  |  | No            | 2                  | On Loan: No      |
| Sizzle Acquisition Corp Ii                                                       | Sizzle II VO Sponsor II, LLC Class B                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    117383 | NS      | $117383.00    | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YBW0<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     58000 | PA      | $49072.06     | 0.01%             | 2037-08-31      | Variable      | 6.16%                 | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6125                                              | CUSIP: 475995981<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |         7 | NC      | $60529.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6090                                              | CUSIP: 58599HA80<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |         8 | NC      | $64480.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Intuitive Surgical Inc                                                           | Intuitive Surgical, Inc.                                                         | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Short            | EC               | CORP              | US        |      -284 | NS      | $-136629.56   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Sirius Real Estate, Ltd. TRS                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-117663.80   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Cslm Acquisition Corp                                                            | CSLM Acquisition Corp.                                                           | CUSIP: G2365L119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     38488 | NC      | $5045.78      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Anglogold Ashanti Plc                                                            | Anglogold Ashanti PLC                                                            | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Short            | EC               | CORP              | GB        |     -1022 | NS      | $-47267.50    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Gamco Natural Resources Gold & Income Trust                                      | GAMCO Natural Resources Gold & Income Trust                                      | CUSIP: 36465E101<br>LEI: 23EBEGZ81713Q1VCP222 | Long             | EC               | RF                | US        |     12027 | NS      | $75649.83     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Asurion Llc                                                                      | Asurion LLC                                                                      | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      2192 | PA      | $2175.20      | 0.00%             | 2028-08-21      | Floating      | 8.67%                 | No            | 2                  | On Loan: No      |
| Barclays                                                                         | CommScope CDS USD 06/20/2027                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $291324.41    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Aas Ln Trs:bmf19b5                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $176351.47    | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Nex Fp Trs: 7130836                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | FR        |         1 | NC      | $-18189.60    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Hcm Ii Acquisition Corp                                                          | HCM II Acquisition Corp.                                                         | CUSIP: G43658122<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      7176 | NC      | $16504.80     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Dhg Id Trs:bjmzdw8                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | LU        |         1 | NC      | $-99878.85    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Haat Delivery Ltd.                                                               | Haat Delivery Ltd.                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | IL        |     64188 | NS      | $1514538.00   | 0.41%             |  |  |  | No            | 3                  | On Loan: No      |
| Communication Services Select Sector Spdr Fund                                   | Communication Services Select Sector SPDR Fund                                   | CUSIP: 81369Y852<br>LEI: 549300RPODKQJE2HDW24 | Short            | EC               | RF                | US        |     -9166 | NS      | $-984520.06   | -0.27%            |  |  |  | No            | 1                  | On Loan: No      |
| Prosus Nv                                                                        | Prosus NV                                                                        | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Short            | EC               | CORP              | NL        |      -412 | NS      | $-23621.58    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Anywhere Real Estate Inc                                                         | Anywhere Real Estate, Inc.                                                       | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     81845 | NS      | $378123.90    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5965                                              | CUSIP: 58599H9X7<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        23 | NC      | $96485.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Block Inc                                                                        | Block, Inc.                                                                      | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Short            | EC               | CORP              | US        |     -2948 | NS      | $-227762.48   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Sst Ln Trs:0783613                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $137201.22    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Biocon Biologics Global                                                          | Biocon Biologics Global PLC                                                      | CUSIP: YU2449483<br>LEI: 254900PMQN51VACG2D55 | Short            | DBT              | CORP              | GB        |  -5857000 | PA      | $-5534964.57  | -1.50%            | 2029-10-09      | Fixed         | 6.67%                 | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5955                                              | CUSIP: 58599HC05<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        25 | NC      | $102500.00    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Cwk Ln Trs: 0231888                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-393832.01   | -0.11%            |  |  |  | No            | 2                  | On Loan: No      |
| Amphenol Corp                                                                    | Amphenol Corp.                                                                   | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Short            | EC               | CORP              | US        |     -1258 | NS      | $-133989.58   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Newhold Investment Corp Iii                                                      | NewHold Investment Corp. III                                                     | CUSIP: G6486E110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      4085 | NC      | $1205.48      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vaneck Gold Miners Etf/usa                                                       | VanEck Gold Miners ETF/USA                                                       | CUSIP: 92189F106<br>LEI: 54930031TORTKAM9TJ98 | Short            | EC               | RF                | US        |     -3157 | NS      | $-163027.48   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6050                                              | CUSIP: 4759957Z3<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        12 | NC      | $95640.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Hwh International Inc                                                            | Hwh International, Inc.                                                          | CUSIP: 02115M117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     13297 | NC      | $640.92       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Tep Ln Trs:0879471                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-407355.63   | -0.11%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: AUD 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-13062778.00 | -3.53%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Virp Fp Trs: 7399369                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | FR        |         1 | NC      | $-14672.99    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Blue Water Acquisition III Class A                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    177972 | NS      | $711.89       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Blackrock California Municipal Income Trust                                      | BlackRock California Municipal Income Trust                                      | CUSIP: 09248E102<br>LEI: LE6236HQD6DXEGUHE217 | Long             | EC               | RF                | US        |    119538 | NS      | $1247976.72   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Fanniemae Strip                                                                  | FNMA, Series 429, Class C5                                                       | CUSIP: 31423YVM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7878599 | PA      | $1457162.67   | 0.39%             | 2052-10-25      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                             | Clear Channel Outdoor Holdings, Inc.                                             | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   3039000 | PA      | $2780685.00   | 0.75%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| Bilfinger Se                                                                     | Bilfinger SE                                                                     | CUSIP: 511738908<br>LEI: 529900H0HULEN2BZ4604 | Short            | EC               | CORP              | DE        |      -112 | NS      | $-12091.25    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nvidia Corp                                                                      | NVIDIA Corp.                                                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Short            | EC               | CORP              | US        |     -1303 | NS      | $-231764.61   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5770                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        17 | NC      | $7820.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Clorox Co/the                                                                    | Clorox Co.                                                                       | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Short            | EC               | CORP              | US        |      -296 | NS      | $-37165.76    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pag Ln Trs:b2ngpm5                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-422590.58   | -0.11%            |  |  |  | No            | 2                  | On Loan: No      |
| Edwards Lifesciences Corp                                                        | Edwards Lifesciences Corp.                                                       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Short            | EC               | CORP              | US        |      -841 | NS      | $-66699.71    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Costar Group Inc                                                                 | CoStar Group, Inc.                                                               | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Short            | EC               | CORP              | US        |     -2905 | NS      | $-276526.95   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| 1261229 Bc Ltd                                                                   | 1261229 BC, Ltd.                                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3045000 | PA      | $3105900.00   | 0.84%             | 2032-04-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pac Ln Trs:0667438                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $45432.81     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | XTao, Inc. Sponsor Shares                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     46229 | NS      | $231145.00    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | HCM Investor Holdings III,CL A                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    134835 | NS      | $404.51       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Scp Ln Trs:0610841                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $117645.48    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Labl Inc                                                                         | LABL, Inc.                                                                       | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   1998000 | PA      | $1665832.50   | 0.45%             | 2031-10-01      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| Oracle Corp                                                                      | Oracle Corp.                                                                     | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Short            | EC               | CORP              | US        |      -607 | NS      | $-154038.39   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Smwh Ln Trs:b2pdgw1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-160545.43   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| AEYE HEALTH INC                                                                  | AEYE HEALTH INC                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1000 | NS      | $1356205.00   | 0.37%             |  |  |  | No            | 3                  | On Loan: No      |
| Verisign Inc                                                                     | VeriSign, Inc.                                                                   | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Short            | EC               | CORP              | US        |      -335 | NS      | $-90071.45    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pey Ln Trs:b28c2r2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GG        |         1 | NC      | $735505.77    | 0.20%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Vct Ln Trs:0929224                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-16149.76    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Denali Therapeutics Inc                                                          | Denali Therapeutics, Inc.                                                        | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Short            | EC               | CORP              | US        |     -4930 | NS      | $-68181.90    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Brand Engagement Network Inc                                                     | Brand Engagement Network, Inc.                                                   | CUSIP: 104932116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     25249 | NC      | $782.72       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Zyversa Therapeutics Inc                                                         | ZyVersa Therapeutics, Inc.                                                       | CUSIP: 98987D110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      7100 | NC      | $497.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Samsara Inc                                                                      | Samsara, Inc.                                                                    | CUSIP: 79589L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4624 | NS      | $-175850.72   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Energy Infrastructure And Income Fund Inc                       | Neuberger Berman Energy Infrastructure and Income Fund, Inc.                     | CUSIP: 64129H104<br>LEI: 549300P5ICT7WWGP8224 | Long             | EC               | RF                | US        |      3524 | NS      | $30870.24     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Pioneer Municipal High Income Opportunities Fund Inc                             | Pioneer Municipal High Income Opportunities Fund, Inc.                           | CUSIP: 723760104<br>LEI: 5493005BKX8X756MKL25 | Long             | EC               | RF                | US        |     22790 | NS      | $260945.50    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6100                                              | CUSIP: 475995973<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        17 | NC      | $152150.00    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Veil Ln Trs:bd9x204                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | KY        |         1 | NC      | $87040.21     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: N/A<br>LEI: 549300CUF7B1LAB15T90       | Long             | DBT              | CORP              | KY        |  16029000 | PA      | $280507.50    | 0.08%             | 2023-06-28      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Dave & Buster's Entertainment Inc                                                | Dave & Buster's Entertainment, Inc.                                              | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Long             | EC               | CORP              | US        |     10868 | NS      | $317780.32    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Vimeo Inc                                                                        | Vimeo, Inc.                                                                      | CUSIP: 92719V100<br>LEI: 25490061AWYWC90UIJ68 | Short            | EC               | CORP              | US        |    -22523 | NS      | $-85362.17    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Real Asset Acquisition Corp                                                      | Real Asset Acquisition Corp.                                                     | CUSIP: G73944111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    110797 | NC      | $44318.80     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nogin Inc                                                                        | Nogin, Inc.                                                                      | CUSIP: 65528N113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      8372 | NC      | $72.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Htg Ln Trs:0447889                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-15633.52    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Cms Energy Corp                                                                  | CMS Energy Corp.                                                                 | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Short            | EC               | CORP              | US        |      -321 | NS      | $-23689.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Arbe Robotics Ltd                                                                | Arbe Robotics, Ltd.                                                              | CUSIP: M1R95N100<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    217728 | NS      | $293932.80    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Wise Ln Trs:bl9yr75                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-385866.22   | -0.10%            |  |  |  | No            | 2                  | On Loan: No      |
| Covia Holdings Corp                                                              | Covia Equity                                                                     | CUSIP: 942EFH909<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169353 | NS      | $3358778.05   | 0.91%             |  |  |  | No            | 2                  | On Loan: No      |
| Utilities Select Sector Spdr Fund                                                | Utilities Select Sector SPDR Fund                                                | CUSIP: 81369Y886<br>LEI: 549300ERQDM80PRYUH21 | Short            | EC               | RF                | US        |     -9223 | NS      | $-790134.41   | -0.21%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Fdju Fp Trs:bg0sc10                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | FR        |         1 | NC      | $-113267.03   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ipx Ln Trs:0490526                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-1843.50     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Alnylam Pharmaceuticals Inc                                                      | Alnylam Pharmaceuticals, Inc.                                                    | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Short            | EC               | CORP              | US        |      -935 | NS      | $-366744.40   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bmy Ln Trs:3314775                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-59137.88    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Generac Holdings Inc                                                             | Generac Holdings, Inc.                                                           | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      1461 | NS      | $284442.09    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Total Stock Market Etf                                                  | Vanguard Total Stock Market ETF                                                  | CUSIP: 922908769<br>LEI: 549300G6KNDK44WUN559 | Short            | EC               | RF                | US        |    -32534 | NS      | $-10114495.26 | -2.73%            |  |  |  | No            | 1                  | On Loan: No      |
| New Providence Acquisition Corp Iii                                              | New Providence Acquisition Corp. III                                             | CUSIP: G6476A102<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     35501 | NS      | $361045.17    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Hhg Capital Corp                                                                 | HHG Capital Corp.                                                                | CUSIP: G4R23P129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     17425 | NC      | $99.32        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Wen Sponsor LLC Class A                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    163709 | NS      | $654.84       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Erf Ln Trs:bndpyv1                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | LU        |         1 | NC      | $-45096.65    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays                                                                         | Unisys Corp. CDS USD 5Y 6/28                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-24147.40    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Baird Medical Investment Holdings Ltd                                            | Baird Medical Investment Holdings, Ltd.                                          | CUSIP: G0705H111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     22349 | NC      | $2011.41      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trade Desk Inc/the                                                               | Trade Desk, Inc.                                                                 | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Short            | EC               | CORP              | US        |     -3234 | NS      | $-281228.64   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Aht Ln Trs:0053673                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-117225.88   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ckn Ln Trs:0201836                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-100154.85   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Atg Ln Trs:bmvqdz6                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-2367.54     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Plains All American Pipeline Lp                                                  | Plains All American Pipeline LP                                                  | CUSIP: 726503105<br>LEI: 5521FA2ITF25TVH63740 | Short            | EC               | CORP              | US        |     -2102 | NS      | $-38361.50    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ggp Ln Trs:bpsmgv5                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-166756.92   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gcl Ln Trs:b15fw33                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | JE        |         1 | NC      | $7104.99      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Vsl Ln Trs:bvg6x43                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $279864.10    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: ZP5379026<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   8094000 | PA      | $141645.00    | 0.04%             | 2024-01-22      | Fixed         | 12.00%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Lowland Investment Company PLC TRS                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $117828.95    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Pfizer CDS USD 12/20/2028 GS                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $384646.20    | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| Godaddy Inc                                                                      | GoDaddy, Inc.                                                                    | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Short            | EC               | CORP              | US        |      -321 | NS      | $-51867.18    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Mff Capital Investments Ltd                                                      | MFF Capital Investments, Ltd.                                                    | CUSIP: Q6S61B118<br>LEI: 549300OYTXE8HSZSYH82 | Long             | EC               | CORP              | AU        |   1163312 | NS      | $3438964.56   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Rxsight Inc                                                                      | RxSight, Inc.                                                                    | CUSIP: 78349D107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2943 | NS      | $-22896.54    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Alliancebernstein National Municipal Income Fund Inc                             | AllianceBernstein National Municipal Income Fund, Inc.                           | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |       396 | NS      | $4015.44      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Roman Dbdr Acquisition Corp Ii                                                   | Roman DBDR Acquisition Corp. II                                                  | CUSIP: G7633M112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     25605 | NC      | $12899.80     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5855                                              | CUSIP: 58599HBW6<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        21 | NC      | $51324.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Biocon Biologics Global                                                          | Biocon Biologics Global PLC                                                      | CUSIP: 090978AA5<br>LEI: 254900PMQN51VACG2D55 | Short            | DBT              | CORP              | GB        |  -1431000 | PA      | $-1352319.33  | -0.37%            | 2029-10-09      | Fixed         | 6.67%                 | Yes           | 2                  | On Loan: No      |
| Zillow Group Inc                                                                 | Zillow Group, Inc.                                                               | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Short            | EC               | CORP              | US        |     -2725 | NS      | $-216773.75   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | MI7 Founders, LLC (MBAV) Class A PIPE                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    308194 | NS      | $2776827.94   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Ensign Group Inc/the                                                             | Ensign Group, Inc.                                                               | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Short            | EC               | CORP              | US        |      -481 | NS      | $-72150.00    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| PK Fund 2023, LLC                                                                | PK Fund 2023, LLC                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       888 | NS      | $888284.00    | 0.24%             |  |  |  | No            | 3                  | On Loan: No      |
| Tradeweb Markets Inc                                                             | Tradeweb Markets, Inc.                                                           | CUSIP: 892672106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -436 | NS      | $-60407.80    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Prysmian Spa                                                                     | Prysmian SpA                                                                     | CUSIP: N/A<br>LEI: 529900X0H1IO3RS1A464       | Short            | EC               | CORP              | IT        |      -338 | NS      | $-27147.39    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: EUR 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $29780359.00  | 8.05%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | TD.SE BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |     76917 | NS      | $76917.04     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Tc Energy Corp                                                                   | TC Energy Corp.                                                                  | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Short            | EC               | CORP              | CA        |     -2185 | NS      | $-104329.97   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Realreal Inc/the                                                                 | RealReal, Inc.                                                                   | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |     68565 | NS      | $360651.90    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Verizon Wireless                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $56699.27     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                                                      | NASDAQ 100 E-MINI Sep25                                                          | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |       -12 | NC      | $-5607600.00  | -1.51%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rch Ln Trs:0903994                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-74.56       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv At/ Ln Trs:blh4250                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-49503.65    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Agios Pharmaceuticals Inc                                                        | Agios Pharmaceuticals, Inc.                                                      | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Short            | EC               | CORP              | US        |     -1073 | NS      | $-39937.06    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Republic Digital Acquisition Co                                                  | Republic Digital Acquisition Co.                                                 | CUSIP: G7515A103<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    250620 | NS      | $2593917.00   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Fanniemae Strip                                                                  | FNMA, Series 427, Class C20                                                      | CUSIP: 31423XMW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6615797 | PA      | $886026.61    | 0.24%             | 2051-02-25      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Aes Corp/the                                                                     | AES Corp.                                                                        | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Short            | EC               | CORP              | US        |      -966 | NS      | $-12702.90    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                                                              | Arista Networks, Inc.                                                            | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Short            | EC               | CORP              | US        |      -814 | NS      | $-100301.08   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Helical PLC TRS                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-10966.05    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     89000 | PA      | $53809.31     | 0.01%             | 2034-05-30      | Variable      | 1.78%                 | No            | 2                  | On Loan: No      |
| N/A                                                                              | Columbus Circle Capital Corp I                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     14801 | NS      | $139721.91    | 0.04%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | Blue Holdings Sponsor Class A                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    177613 | NS      | $710.45       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: ZS0897653<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   3205000 | PA      | $56087.50     | 0.02%             | 2049-12-31      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| X Corp                                                                           | X Corp.                                                                          | CUSIP: 90184NAK4<br>LEI: 549300I8RX485XMK6836 | Long             | LON              | CORP              | US        |   1653198 | PA      | $1606247.18   | 0.43%             | 2029-10-29      | Floating      | 9.50%                 | No            | 2                  | On Loan: No      |
| Principal Real Estate Income Fund                                                | Principal Real Estate Income Fund                                                | CUSIP: 74255X104<br>LEI: 549300HK3LIJEGLGMK36 | Long             | EC               | RF                | US        |      8744 | NS      | $90762.72     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Spring Valley Acquisition Corp Ii                                                | Spring Valley Acquisition Corp. II                                               | CUSIP: G83752116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     13573 | NC      | $5293.47      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                                           | US 5Yr T-Note Future                                                             | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |       -82 | NC      | $-8870093.75  | -2.40%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Fltr Ln Trs:bwxc0z1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-149179.87   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Tesla Inc                                                                        | Tesla, Inc.                                                                      | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |       -55 | NS      | $-16954.85    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Selina Hospitality Plc                                                           | Selina Hospitality PLC                                                           | CUSIP: 81635BAE8<br>LEI: 549300BAEIWO0QPTC061 | Long             | DBT              | CORP              | GB        |   4981328 | PA      | $61967.72     | 0.02%             | 2029-11-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QJN5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     61000 | PA      | $36112.49     | 0.01%             | 2036-02-29      | Variable      | 4.47%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Trst Ln Trs:bnk9tp5                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-249557.49   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Affirm Holdings Inc                                                              | Affirm Holdings, Inc.                                                            | CUSIP: 00827B106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5421 | NS      | $-371663.76   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFL3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $15656.73     | 0.00%             | 2034-11-28      | Variable      | 2.48%                 | No            | 2                  | On Loan: No      |
| Live Oak Acquisition Corp V                                                      | Live Oak Acquisition Corp. V                                                     | CUSIP: G5509P110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     24019 | NC      | $16212.83     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Energy Select Sector Spdr Fund                                                   | Energy Select Sector SPDR Fund                                                   | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Short            | EC               | RF                | US        |       -64 | NS      | $-5581.44     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Astera Labs Inc                                                                  | Astera Labs, Inc.                                                                | CUSIP: 04626A103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -229 | NS      | $-31311.17    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Heineken Nv                                                                      | Heineken NV                                                                      | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Short            | EC               | CORP              | NL        |     -2850 | NS      | $-224612.28   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Star Parent Inc                                                                  | Star Parent, Inc.                                                                | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Short            | DBT              | CORP              | US        |  -5007000 | PA      | $-5282385.00  | -1.43%            | 2030-10-01      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ror Ln Trs:bvfnzh2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-45864.37    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Spring Valley Acquisition Corp Ii                                                | Spring Valley Acquisition Corp. II                                               | CUSIP: G83752132<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     27147 | NC      | $7601.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Zapp Electric Vehicles Group Ltd                                                 | Zapp Electric Vehicles Group, Ltd.                                               | CUSIP: G9889X115<br>LEI: 984500D6DT79D76DED28 | N/A              | DE               | CORP              | US        |     11642 | NC      | $16.30        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFS8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     36000 | PA      | $22943.30     | 0.01%             | 2035-02-27      | Variable      | 2.48%                 | No            | 2                  | On Loan: No      |
| Industrial Select Sector Spdr Fund                                               | Industrial Select Sector SPDR Fund                                               | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Short            | EC               | RF                | US        |      -624 | NS      | $-94854.24    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Schlumberger Nv                                                                  | Schlumberger NV                                                                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Short            | EC               | CORP              | CW        |     -1344 | NS      | $-45427.20    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $34684336.00  | 9.37%             |  |  |  | No            | 2                  | On Loan: No      |
| Perimeter Acquisition Corp I                                                     | Perimeter Acquisition Corp. I                                                    | CUSIP: G7010A129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    129738 | NS      | $1315543.32   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Launch Two Acquisition Corp                                                      | Launch Two Acquisition Corp.                                                     | CUSIP: G5S87A113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      2140 | NC      | $1070.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinterest Inc                                                                    | Pinterest, Inc.                                                                  | CUSIP: 72352L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6644 | NS      | $-256458.40   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Qq/ Ln Trs:b0wmwd0                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-216902.56   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| Investcorp Ai Acquisition Corp                                                   | Investcorp AI Acquisition Corp.                                                  | CUSIP: G49219127<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     37472 | NC      | $1139.15      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gores Holdings X Inc                                                             | Gores Holdings X, Inc.                                                           | CUSIP: G4002F125<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      6723 | NC      | $8403.75      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QDZ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    478000 | PA      | $294090.93    | 0.08%             | 2034-02-28      | Variable      | 1.36%                 | No            | 2                  | On Loan: No      |
| Inflection Point Acquisition Corp Iii                                            | Inflection Point Acquisition Corp. III                                           | CUSIP: G47875128<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    107378 | NS      | $1125321.44   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Caesars Entertainment, Inc (BI CLAIM)                                            | Caesars Entertainment, Inc (BI CLAIM)                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2320 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Revolution Medicines Inc                                                         | Revolution Medicines, Inc.                                                       | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Short            | EC               | CORP              | US        |     -1316 | NS      | $-49047.32    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Wayfair Inc                                                                      | Wayfair, Inc.                                                                    | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Short            | EC               | CORP              | US        |     -1942 | NS      | $-127472.88   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ibt Ln Trs:0455934                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $3747.54      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Apollo Global Management Inc                                                     | Apollo Global Management, Inc.                                                   | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Short            | EC               | CORP              | US        |      -532 | NS      | $-77310.24    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Veeco Instruments Inc                                                            | Veeco Instruments, Inc.                                                          | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Short            | EC               | CORP              | US        |      -902 | NS      | $-18743.56    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: JPY 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-708318.00   | -0.19%            |  |  |  | No            | 2                  | On Loan: No      |
| Occidental Petroleum Corp                                                        | Occidental Petroleum Corp.                                                       | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Short            | EC               | CORP              | US        |      -508 | NS      | $-22321.52    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ALTERNATIVE CAPITAL INVESTMENTS FUND III                                         | ALTERNATIVE CAPITAL INVESTMENTS FUND III LP                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       576 | NS      | $1097424.76   | 0.30%             |  |  |  | No            | N/A                | On Loan: No      |
| Agrinam Acquisition Corp                                                         | Agrinam Acquisition Corp.                                                        | CUSIP: 00857H114<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |     19798 | NC      | $98.99        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Plains Gp Holdings Lp                                                            | Plains GP Holdings LP                                                            | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Short            | EC               | CORP              | US        |     -2858 | NS      | $-56016.80    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Sspg Ln Trs:bgbn7c0                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-64429.87    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Egl Ln Trs:bd3v464                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $314547.86    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| Generac Holdings Inc                                                             | Generac Holdings, Inc.                                                           | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Short            | EC               | CORP              | US        |       -46 | NS      | $-8955.74     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Psyence Biomedical Ltd                                                           | Psyence Biomedical, Ltd.                                                         | CUSIP: 74449F118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     30398 | NC      | $823.79       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sprout Social Inc                                                                | Sprout Social, Inc.                                                              | CUSIP: 85209W109<br>LEI: 254900QE3QH8EBRDOB65 | Short            | EC               | CORP              | US        |     -1151 | NS      | $-19739.65    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YAP6<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     40000 | PA      | $30958.72     | 0.01%             | 2036-09-30      | Variable      | 8.64%                 | No            | 2                  | On Loan: No      |
| N/A                                                                              | Oxley Bridge Holdings LLC Class A                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    166107 | NS      | $664.43       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Federated Hermes Premier Municipal Income Fund                                   | Federated Hermes Premier Municipal Income Fund                                   | CUSIP: 31423P108<br>LEI: C0TUI5ZPEIY028NN4Q23 | Long             | EC               | RF                | US        |      2156 | NS      | $22724.24     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Syncona Ltd                                                                      | Syncona, Ltd.                                                                    | CUSIP: G8651Q100<br>LEI: 213800X8MBI5VQITLW60 | Long             | EC               | CORP              | GB        |   2970623 | NS      | $3825089.05   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Su Fp Trs:4834108                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | LU        |         1 | NC      | $-108619.77   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| BENSON HILL INC                                                                  | Benson Hill Inc.                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |    187607 | NC      | $13872.04     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sps Commerce Inc                                                                 | SPS Commerce, Inc.                                                               | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Short            | EC               | CORP              | US        |      -240 | NS      | $-26127.60    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Infosys Ltd                                                                      | Infosys, Ltd.                                                                    | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Short            | EC               | CORP              | IN        |     -8959 | NS      | $-149794.48   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Pimco Dynamic Income Strategy Fund                                               | PIMCO Dynamic Income Strategy Fund                                               | CUSIP: 69346N107<br>LEI: 549300BX5QVFQJENPV35 | Long             | EC               | RF                | US        |    231564 | NS      | $5747418.48   | 1.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Dte Energy Co                                                                    | DTE Energy Co.                                                                   | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Short            | EC               | CORP              | US        |      -277 | NS      | $-38339.57    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Xps Ln Trs:bddn1t2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-274529.05   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEW0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     88000 | PA      | $53989.76     | 0.01%             | 2034-09-30      | Variable      | 2.23%                 | No            | 2                  | On Loan: No      |
| Rollins Inc                                                                      | Rollins, Inc.                                                                    | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Short            | EC               | CORP              | US        |      -827 | NS      | $-47362.29    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: ZP5378630<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   6500000 | PA      | $113750.00    | 0.03%             | 2049-12-31      | Fixed         | 11.50%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Reckitt Benckiser Group PLC TRS                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-52360.38    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Trane Technologies Plc                                                           | Trane Technologies PLC                                                           | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Short            | EC               | CORP              | IE        |      -161 | NS      | $-70530.88    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Grayscale Ethereum Classic Trust                                                 | Grayscale Ethereum Classic Trust                                                 | CUSIP: 38963Q107<br>LEI: 54930092HET8DVEQYD83 | Long             | EC               | RF                | US        |   2756695 | NS      | $29138266.15  | 7.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Hca Healthcare Inc                                                               | HCA Healthcare, Inc.                                                             | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Short            | EC               | CORP              | US        |      -338 | NS      | $-119648.62   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Polestar Automotive Holding Uk Plc                                               | Polestar Automotive Holding UK PLC                                               | CUSIP: 731105201<br>LEI: 894500HDA1DJKHYN4D83 | Long             | EC               | CORP              | GB        |    116694 | NS      | $124862.58    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | NEMO ENTERPRISES INC                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |        84 | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Chewy Inc                                                                        | Chewy, Inc.                                                                      | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Short            | EC               | CORP              | US        |     -3625 | NS      | $-133037.50   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Blue Water Acquisition III Class B                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22247 | NS      | $222470.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Intercontinental Exchange                                                        | CSC Holdings, LLC CDS USD 06/20/2028                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-148700.27   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Compass Diversified Holdings TRS                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $152209.80    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Vistra Corp                                                                      | Vistra Corp.                                                                     | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Short            | EC               | CORP              | US        |      -403 | NS      | $-84041.62    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Heineken Holding Nv                                                              | Heineken Holding NV                                                              | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Short            | EC               | CORP              | NL        |     -3343 | NS      | $-226613.03   | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Crn Ln Trs:bwy4zf1                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | IE        |         1 | NC      | $-48531.91    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | RealReal, Inc. TRS                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $378893.58    | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Dplm Ln Trs:0182663                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-556402.27   | -0.15%            |  |  |  | No            | 2                  | On Loan: No      |
| Papaya Growth Opportunity Corp I                                                 | Papaya Growth Opportunity Corp. I                                                | CUSIP: 69882P110<br>LEI: 549300U6L3FU6EKJUM40 | N/A              | DE               | CORP              | US        |     76584 | NC      | $4304.02      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ix Acquisition Corp                                                              | IX Acquisition Corp.                                                             | CUSIP: G5000D111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       112 | NC      | $13.44        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ge Healthcare Technologies Inc                                                   | GE HealthCare Technologies, Inc.                                                 | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Short            | EC               | CORP              | US        |     -1722 | NS      | $-122813.04   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| GEO Group                                                                        | GEO Group 4/24 TLB 1L                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5097350 | PA      | $5120288.31   | 1.38%             | 2029-04-01      | Floating      | 9.58%                 | No            | 2                  | On Loan: No      |
| Engene Holdings Inc                                                              | Engene Holdings, Inc.                                                            | CUSIP: 29286M113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      5604 | NC      | $5099.64      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pershing Square Holdings Ltd/fund                                                | Pershing Square Holdings, Ltd.                                                   | CUSIP: N/A<br>LEI: U7LC4KOKCTZ0YWGI2G56       | Long             | EC               | CORP              | GB        |    175609 | NS      | $9746299.50   | 2.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertex Pharmaceuticals Inc                                                       | Vertex Pharmaceuticals, Inc.                                                     | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Short            | EC               | CORP              | US        |      -393 | NS      | $-179549.91   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Cslm Acquisition Corp                                                            | CSLM Acquisition Corp.                                                           | CUSIP: G2365L127<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     69644 | NC      | $16018.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ALTERNATIVE CAPITAL INVESTMENTS FUND III                                         | ALTERNATIVE CAPITAL INVETMTS FUND III LP 2                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3763 | NS      | $10769190.21  | 2.91%             |  |  |  | No            | N/A                | On Loan: No      |
| Gct Semiconductor Holding Inc                                                    | GCT Semiconductor Holding, Inc.                                                  | CUSIP: 36170N115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     54452 | NC      | $4911.57      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6185                                              | CUSIP: 58599HSU2<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        46 | NC      | $434240.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| B2gold Corp                                                                      | B2Gold Corp.                                                                     | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Short            | EC               | CORP              | CA        |    -16258 | NS      | $-54678.32    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFU3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    527000 | PA      | $316089.33    | 0.09%             | 2035-03-31      | Variable      | 2.59%                 | No            | 2                  | On Loan: No      |
| Vsee Health Inc                                                                  | VSee Health, Inc.                                                                | CUSIP: 92919Y110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     17198 | NC      | $951.05       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Penumbra Inc                                                                     | Penumbra, Inc.                                                                   | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Short            | EC               | CORP              | US        |      -332 | NS      | $-83753.64    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank Of America Corp                                                             | Bank of America Corp.                                                            | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Short            | EC               | CORP              | US        |     -7596 | NS      | $-359062.92   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QGR9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     80000 | PA      | $54338.00     | 0.01%             | 2030-07-31      | Variable      | 3.46%                 | No            | 2                  | On Loan: No      |
| Targa Resources Corp                                                             | Targa Resources Corp.                                                            | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Short            | EC               | CORP              | US        |      -416 | NS      | $-69226.56    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Moon Ln Trs:bmt9k01                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-255508.43   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Cognizant Technology Solutions Corp                                              | Cognizant Technology Solutions Corp.                                             | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Short            | EC               | CORP              | US        |      -494 | NS      | $-35449.44    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Nogin Inc                                                                        | Nogin, Inc.                                                                      | CUSIP: 65528N204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11264 | NS      | $450.56       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Procap Acquisition Corp                                                          | ProCap Acquisition Corp.                                                         | CUSIP: G7257A113<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    120801 | NS      | $1290154.68   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mff At Trs:b1j87t9                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | AU        |         1 | NC      | $1079007.24   | 0.29%             |  |  |  | No            | 2                  | On Loan: No      |
| Us Treasury N/b                                                                  | U.S. Treasury Bond                                                               | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -94386000 | PA      | $-93420015.92 | -25.24%           | 2035-05-15      | Fixed         | 4.25%                 | No            | 1                  | On Loan: No      |
| Rapid7 Inc                                                                       | Rapid7, Inc.                                                                     | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Short            | EC               | CORP              | US        |     -1135 | NS      | $-23971.20    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Volato Group Inc                                                                 | Volato Group, Inc.                                                               | CUSIP: 74349W112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     20757 | NC      | $354.94       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bitcoin Depot Inc                                                                | Bitcoin Depot, Inc.                                                              | CUSIP: 09174P113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     84714 | NC      | $41941.90     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Fact Ii Acquisition Corp                                                         | Fact II Acquisition Corp.                                                        | CUSIP: G32901129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     29805 | NC      | $7448.27      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ker Fp Trs:5505072                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $-50649.34    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Smx Security Matters Plc                                                         | SMX Security Matters PLC                                                         | CUSIP: G8267K117<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     36580 | NC      | $768.18       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TV Partners III, LLC                                                             | TV Partners III, LLC CL B                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    277192 | NS      | $277192.00    | 0.07%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Otb Ln Trs:bym1k75                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-78051.11    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Winnebago Industries Inc                                                         | Winnebago Industries, Inc.                                                       | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |     21878 | NS      | $650214.16    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Core Scientific Inc                                                              | Core Scientific, Inc.                                                            | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |     59918 | NS      | $811289.72    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Plum Acquisition Corp Iv                                                         | Plum Acquisition Corp. IV                                                        | CUSIP: G7134A120<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      8108 | NC      | $2128.76      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFV1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    114000 | PA      | $68925.31     | 0.02%             | 2035-03-31      | Variable      | 5.66%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     66000 | PA      | $40293.73     | 0.01%             | 2034-04-30      | Variable      | 1.73%                 | No            | 2                  | On Loan: No      |
| Paycom Software Inc                                                              | Paycom Software, Inc.                                                            | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Short            | EC               | CORP              | US        |      -176 | NS      | $-40751.04    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                                                                    | Snowflake, Inc.                                                                  | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Short            | EC               | CORP              | US        |     -1308 | NS      | $-292338.00   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Worldwide Healthcare Trust PLC TRS                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1129946.95   | 0.31%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ibst Ln Trs:byxjc27                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-52708.85    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Icahn Enterprises/fin                                                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp.                           | CUSIP: 451102CC9<br>LEI: 549300T0G4GS0SINS786 | Short            | DBT              | CORP              | US        |   -696000 | PA      | $-597690.00   | -0.16%            | 2029-02-01      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| Denali Capital Acquisition Corp                                                  | Denali Capital Acquisition Corp.                                                 | CUSIP: G6256B114<br>LEI: 549300L7MIQ7V1UUZB95 | N/A              | DE               | CORP              | US        |     27621 | NC      | $2209.68      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Alamos Gold Inc                                                                  | Alamos Gold, Inc.                                                                | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Short            | EC               | CORP              | CA        |     -8333 | NS      | $-202491.42   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Syntec Optics Holdings Inc                                                       | Syntec Optics Holdings, Inc.                                                     | CUSIP: 87169M113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     27378 | NC      | $2737.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Republic Digital Acquisition Co                                                  | Republic Digital Acquisition Co.                                                 | CUSIP: G7515A129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    125310 | NC      | $102127.65    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Axiom Intelligence Holdings 1 LLC Class A                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    142090 | NS      | $568.36       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Australian United Investment Co Ltd/fund                                         | Australian United Investment Co., Ltd.                                           | CUSIP: Q11176114<br>LEI: 254900GUHAKLG0ECG757 | Long             | EC               | CORP              | AU        |      5375 | NS      | $38998.34     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: SEK 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-2257357.00  | -0.61%            |  |  |  | No            | 2                  | On Loan: No      |
| Zooz Power Ltd                                                                   | Zooz Power, Ltd.                                                                 | CUSIP: M2573A189<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     24350 | NC      | $2357.08      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Inception Growth Acquisition Ltd                                                 | Inception Growth Acquisition, Ltd.                                               | CUSIP: 45333D120<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      7394 | NC      | $1996.38      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sabre Corp                                                                       | Sabre Corp.                                                                      | CUSIP: 78573M104<br>LEI: 529900VKCYZW8GZ4WW58 | Short            | EC               | CORP              | US        |    -11971 | NS      | $-36272.13    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Gogo Intermediate Holdin                                                         | Gogo Intermediate Holdings LLC                                                   | CUSIP: 38046JAB0<br>LEI: 2549003PQSV921SNHM89 | Long             | LON              | CORP              | US        |   2151800 | PA      | $2140137.24   | 0.58%             | 2028-04-28      | Floating      | 8.22%                 | No            | 2                  | On Loan: No      |
| Pearl Holdings Acquisition Corp                                                  | Pearl Holdings Acquisition Corp.                                                 | CUSIP: G44525114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     18484 | NC      | $636.77       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sagaliam Acquisition Corp                                                        | Sagaliam Acquisition Corp.                                                       | CUSIP: 78661R114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     84310 | NC      | $4422.06      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cbre Group Inc                                                                   | CBRE Group, Inc.                                                                 | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      3064 | NS      | $477187.36    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Blade Air Mobility Inc                                                           | Blade Air Mobility, Inc.                                                         | CUSIP: 092667104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -24246 | NS      | $-96741.54    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Bankers Investment Trust PLC TRS                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2526324.41   | 0.68%             |  |  |  | No            | 2                  | On Loan: No      |
| Nuveen Pennsylvania Quality Municipal Income Fund                                | Nuveen Pennsylvania Quality Municipal Income Fund                                | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |     60219 | NS      | $653376.15    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Ausc Ln Trs:0295958                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2332169.52   | 0.63%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs                                                                    | Proctor & Gamble                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $41021.90     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                                                   | BMY CDS USD 6/29 OTC                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $391631.35    | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| Robinhood Markets Inc                                                            | Robinhood Markets, Inc.                                                          | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Short            | EC               | CORP              | US        |     -1497 | NS      | $-154265.85   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Tag Immobilien Ag                                                                | TAG Immobilien AG                                                                | CUSIP: N/A<br>LEI: 529900TAE68USJNXLR59       | Long             | EC               | CORP              | DE        |     13120 | NS      | $210514.11    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Sweetgreen Inc                                                                   | Sweetgreen, Inc.                                                                 | CUSIP: 87043Q108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4989 | NS      | $-64258.32    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Cpi Property Group Sa                                                            | CPI Property Group SA                                                            | CUSIP: BT3966533<br>LEI: 222100CO2ZOTEPGJO223 | Short            | DBT              | CORP              | LU        |  -2462000 | PA      | $-2461283.54  | -0.66%            | 2030-01-14      | Fixed         | 1.75%                 | No            | 2                  | On Loan: No      |
| Borealis Foods Inc                                                               | Borealis Foods, Inc.                                                             | CUSIP: 09973D113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     20287 | NC      | $2003.34      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $15466.33     | 0.00%             | 2034-07-31      | Variable      | 5.66%                 | No            | 2                  | On Loan: No      |
| Tenet Healthcare Corp                                                            | Tenet Healthcare Corp.                                                           | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Short            | EC               | CORP              | US        |      -397 | NS      | $-64028.16    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Lightwave Acquisition Corp                                                       | Lightwave Acquisition Corp.                                                      | CUSIP: G5490M118<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     48885 | NS      | $497160.45    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Mongodb Inc                                                                      | MongoDB, Inc.                                                                    | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Short            | EC               | CORP              | US        |       -83 | NS      | $-19744.87    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Compass Group Diversifie                                                         | Compass Group Diversified Holdings LLC                                           | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |   2452000 | PA      | $2283425.00   | 0.62%             | 2029-04-15      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| Ishares Msci India Etf                                                           | iShares MSCI India ETF                                                           | CUSIP: 46429B598<br>LEI: 549300282VMCFH7S5848 | Short            | EC               | RF                | US        |    -80577 | NS      | $-4241573.28  | -1.15%            |  |  |  | No            | 1                  | On Loan: No      |
| Schroder Uk Mid Cap Fund Plc                                                     | Schroder UK Mid Cap Fund PLC                                                     | CUSIP: G7889V105<br>LEI: 549300SOEWCYZTK2SP87 | Long             | EC               | CORP              | GB        |    570790 | NS      | $5216411.52   | 1.41%             |  |  |  | No            | 1                  | On Loan: No      |
| New Providence Acquisition Corp Iii                                              | New Providence Acquisition Corp. III                                             | CUSIP: G6476A110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     12247 | NC      | $6245.97      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | GlobalData PLC TRS                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-122235.30   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Icoreconnect Inc                                                                 | iCoreConnect, Inc.                                                               | CUSIP: 450958111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      1112 | NC      | $15.29        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                                                               | Meta Platforms, Inc.                                                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Short            | EC               | CORP              | US        |     -1866 | NS      | $-1443239.04  | -0.39%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | FNCL 5.5 9/25 TBA MSFTA                                                          | CUSIP: TRF052698<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $413440.63    | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Megp Ln Trs:0848125                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-101413.17   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Supp Ln Trs:bvg1cf2                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $9227.32      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ICE Futures Europe Financials                                                    | FTSE 100 IDX Future                                                              | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | N/A              | DE               | CORP              | GB        |        -2 | NC      | $-240993.13   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Pacira Biosciences Inc                                                           | Pacira BioSciences, Inc.                                                         | CUSIP: 695127100<br>LEI: 549300P56LERYBDHCF69 | Short            | EC               | CORP              | US        |      -202 | NS      | $-4260.18     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Adtalem Global Education                                                         | Adtalem Global Education, Inc.                                                   | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |   4195000 | PA      | $4174025.00   | 1.13%             | 2028-03-01      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YAV3<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |    103000 | PA      | $81090.87     | 0.02%             | 2036-11-29      | Variable      | 8.94%                 | No            | 2                  | On Loan: No      |
| Metal Sky Star Acquisition Corp                                                  | Metal Sky Star Acquisition Corp.                                                 | CUSIP: G6053N113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     40420 | NC      | $10408.15     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cardio Diagnostics Holdings Inc                                                  | Cardio Diagnostics Holdings, Inc.                                                | CUSIP: 14159C111<br>LEI: 529900E3UWQ6LHYRCK14 | N/A              | DE               | CORP              | US        |     19933 | NC      | $282.05       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rel Ln Trs:b2b0dg9                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-128445.01   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Yeti Holdings Inc                                                                | YETI Holdings, Inc.                                                              | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Short            | EC               | CORP              | US        |     -1348 | NS      | $-49525.52    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Ftse Developed Markets Etf                                              | Vanguard FTSE Developed Markets ETF                                              | CUSIP: 921943858<br>LEI: 549300PTTIGTMUA02X28 | Short            | EC               | RF                | US        |   -208179 | NS      | $-11703823.38 | -3.16%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | HCM Investor Holdings III,CL B                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    179780 | NS      | $269670.00    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gns Ln Trs:0207458                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-253091.59   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Archrock Inc                                                                     | Archrock, Inc.                                                                   | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Short            | EC               | CORP              | US        |      -598 | NS      | $-13969.28    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pay Ln Trs:b02qnd9                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-83002.93    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bol Fp Trs:4572709                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | FR        |         1 | NC      | $-53304.84    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Vgi Partners Global Investments Ltd                                              | VGI Partners Global Investments, Ltd.                                            | CUSIP: Q9395Z108<br>LEI: 549300JHME36HG5U2Y72 | Long             | EC               | CORP              | AU        |   1909713 | NS      | $2184548.89   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Insmed Inc                                                                       | Insmed, Inc.                                                                     | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Short            | EC               | CORP              | US        |      -388 | NS      | $-41624.64    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| GDS Holdings Ltd                                                                 | GDS Holdings, Ltd.                                                               | CUSIP: 36165L108<br>LEI: 391200MGV8DDCHTN2R77 | Long             | EC               | CORP              | KY        |     34973 | NS      | $1261476.11   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Abn Amro Euro Sustainable Money Market                                           | ABN Amro Euro Sustainable Money Market                                           | CUSIP: N/A<br>LEI: 969500ZZMMN1N7HTVV44       | Long             | EC               | CORP              | US        |        84 | NS      | $84209.52     | 0.02%             |  |  |  | No            | 3                  | On Loan: No      |
| Concord Acquisition Corp Ii                                                      | Concord Acquisition Corp. II                                                     | CUSIP: 20607U116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     25741 | NC      | $1711.78      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rrd Parent Inc                                                                   | RRD Parent, Inc.                                                                 | CUSIP: 74983TAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    303000 | PA      | $343905.00    | 0.09%             | 9999-12-31      | Fixed         | 12.00%                | Yes           | 2                  | On Loan: No      |
| TV Partners III, LLC                                                             | TV Partners III, LLC CL A                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    221754 | NS      | $665.26       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Teck Resources Ltd                                                               | Teck Resources, Ltd.                                                             | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Short            | EC               | CORP              | CA        |     -4223 | NS      | $-137078.58   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Micron Technology Inc                                                            | Micron Technology, Inc.                                                          | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Short            | EC               | CORP              | US        |      -297 | NS      | $-32414.58    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Basc Ln Trs:0346340                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $290548.07    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| Arverne Group Sa                                                                 | Arverne Group SA                                                                 | CUSIP: N/A<br>LEI: 894500FOM6WHY0KFW309       | N/A              | DE               | CORP              | FR        |     33822 | NC      | $1929.88      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-3435547.00  | -0.93%            |  |  |  | No            | 2                  | On Loan: No      |
| Kinder Morgan Inc                                                                | Kinder Morgan, Inc.                                                              | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Short            | EC               | CORP              | US        |     -2441 | NS      | $-68494.46    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Lowe's Cos Inc                                                                   | Lowe's Cos., Inc.                                                                | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Short            | EC               | CORP              | US        |       -28 | NS      | $-6259.96     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Spx Ln Trs:bwfgqn1                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-55221.28    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Deere & Co                                                                       | Deere & Co.                                                                      | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Short            | EC               | CORP              | US        |      -148 | NS      | $-77606.76    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Psny Trs:731105201                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $745790.00    | 0.20%             |  |  |  | No            | 2                  | On Loan: No      |
| Grayscale Bitcoin Mini Trust Etf                                                 | Grayscale Bitcoin Mini Trust ETF                                                 | CUSIP: 389930207<br>LEI: 529900WHTNX5LZCNWB27 | Short            | EC               | RF                | US        |    -54060 | NS      | $-2794902.00  | -0.76%            |  |  |  | No            | 1                  | On Loan: No      |
| Osaka Exchange                                                                   | NIKKEI 225  (OSE) Sep25                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | JP        |        -1 | NC      | $-273209.55   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Snap, Inc. TRS                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $3011762.83   | 0.81%             |  |  |  | No            | 2                  | On Loan: No      |
| Inception Growth Acquisition Ltd                                                 | Inception Growth Acquisition, Ltd.                                               | CUSIP: 45333D112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      2402 | NC      | $448.93       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Capri Holdings Ltd                                                               | Capri Holdings, Ltd.                                                             | CUSIP: G1890L107<br>LEI: 549300LPG8W0H1OX3A26 | Long             | EC               | CORP              | VG        |     28458 | NS      | $517651.02    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| System1 Inc                                                                      | System1, Inc.                                                                    | CUSIP: 87200P208<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5324 | NS      | $-33113.41    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Staples Inc                                                                      | Staples, Inc.                                                                    | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   3135000 | PA      | $2946900.00   | 0.80%             | 2029-09-01      | Fixed         | 10.75%                | Yes           | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: EUR 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-3527827.00  | -0.95%            |  |  |  | No            | 2                  | On Loan: No      |
| Dih Holdings Us Inc                                                              | DIH Holdings US, Inc.                                                            | CUSIP: 23290B114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     63578 | NC      | $1271.56      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Genesis Growth Tech Acquisition Corp                                             | Genesis Growth Tech Acquisition Corp.                                            | CUSIP: G3R23D128<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      6030 | NC      | $0.60         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mfs High Income Municipal Trust                                                  | MFS High Income Municipal Trust                                                  | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             | EC               | RF                | US        |      1680 | NS      | $5964.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Fin Llc                                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 61766YAA9<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6097.64      | 0.00%             | 2036-04-28      | Variable      | 4.95%                 | No            | 2                  | On Loan: No      |
| GRAF GLOBAL SPONSOR                                                              | GRAF GLOBAL SPONSOR LCC CLASS B WARRANTS                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | KY        |     26200 | NC      | $4847.00      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Credicorp Ltd                                                                    | Credicorp, Ltd.                                                                  | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Short            | EC               | CORP              | BM        |     -1358 | NS      | $-321846.00   | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Four Leaf Acquisition Corp                                                       | Four Leaf Acquisition Corp.                                                      | CUSIP: 35088F115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      3750 | NC      | $150.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fabrinet                                                                         | Fabrinet                                                                         | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Short            | EC               | CORP              | KY        |      -842 | NS      | $-272580.66   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Smithson Investment Trust PLC TRS                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1467975.04   | 0.40%             |  |  |  | No            | 2                  | On Loan: No      |
| Jd.com Inc                                                                       | JD.com, Inc.                                                                     | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Short            | EC               | CORP              | KY        |     -3742 | NS      | $-117835.58   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Rms Fp Trs:5253973                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | FR        |         1 | NC      | $-51549.18    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Alternus Clean Energy Inc                                                        | Alternus Clean Energy, Inc.                                                      | CUSIP: 184493112<br>LEI: 5299005X49W08265VY11 | N/A              | DE               | CORP              | US        |     49587 | NC      | $1983.48      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Workday Inc                                                                      | Workday, Inc.                                                                    | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Short            | EC               | CORP              | US        |      -817 | NS      | $-187403.46   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Boy Ln Trs:b3flwh9                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-167320.83   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Phi Ln Trs:0666747                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $74812.68     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Lre Ln Trs:b0pyhc7                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-121074.62   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Critical Metals Corp                                                             | Critical Metals Corp.                                                            | CUSIP: G2662B111<br>LEI: 984500158752F66VAE27 | N/A              | DE               | CORP              | US        |     32369 | NC      | $45316.60     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPXW US 07/31/25 P5465                                             | CUSIP: 53U995V03<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        38 | NC      | $95.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Titan Acquisition Corp                                                           | Titan Acquisition Sponsor Holdco, LLC Class B                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    117383 | NS      | $117383.00    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hik Ln Trs:b0lcw08                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-125564.24   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Clearway Energy Inc                                                              | Clearway Energy, Inc.                                                            | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Short            | EC               | CORP              | US        |     -3247 | NS      | $-105949.61   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Credit Suisse Ag                                                                 | UBS AG/London                                                                    | CUSIP: 22546VH58<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |     10000 | PA      | $7119.14      | 0.00%             | 2030-07-31      | Variable      | 3.39%                 | No            | 2                  | On Loan: No      |
| Salesforce Inc                                                                   | Salesforce, Inc.                                                                 | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Short            | EC               | CORP              | US        |      -525 | NS      | $-135623.25   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Progressive Corp/the                                                             | Progressive Corp.                                                                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Short            | EC               | CORP              | US        |      -205 | NS      | $-49618.20    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                                        | Taiwan Semiconductor Manufacturing Co., Ltd.                                     | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Short            | EC               | CORP              | TW        |    -10965 | NS      | $-2649363.30  | -0.72%            |  |  |  | No            | 1                  | On Loan: No      |
| Vertical Aerospace Ltd                                                           | Vertical Aerospace, Ltd.                                                         | CUSIP: G9471C206<br>LEI: 9845002F3CF4E56DA491 | Long             | EC               | CORP              | KY        |    890409 | NS      | $5449303.08   | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Pfizer, Inc.                                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $141472.78    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: AUD 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $611312.00    | 0.17%             |  |  |  | No            | 2                  | On Loan: No      |
| Gp-act Iii Acquisition Corp                                                      | GP-Act III Acquisition Corp.                                                     | CUSIP: G4035N129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     42413 | NC      | $11867.16     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6240                                              | CUSIP: 58599HF51<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        53 | NC      | $606320.00    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Willow Lane Acquisition Corp                                                     | Willow Lane Acquisition Corp.                                                    | CUSIP: G9675P110<br>LEI: 254900Z85UYRON5ZBZ90 | N/A              | DE               | CORP              | US        |        62 | NC      | $35.16        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Uem Ln Trs:bd45s96                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $96176.27     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Fold Holdings Inc                                                                | Fold Holdings, Inc.                                                              | CUSIP: 29103K118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     18690 | NC      | $12111.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Leonardo Drs Inc                                                                 | Leonardo DRS, Inc.                                                               | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Short            | EC               | CORP              | US        |     -1663 | NS      | $-69180.80    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Smt Ln Trs:bldyk61                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2867212.68   | 0.77%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Big Ln Trs:bn2tr93                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-722.20      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| EVERYWARE GLOBAL                                                                 | Everyware Global                                                                 | CUSIP: 300439205<br>LEI: 549300CPPOE32YM1QQ27 | Long             | EC               | CORP              | US        |     43777 | NS      | $0.04         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Blackrock Throgmorton Trust PLC TRS                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1087649.67   | 0.29%             |  |  |  | No            | 2                  | On Loan: No      |
| Soulpower Acquisition Corp                                                       | Soulpower Acquisition Sponsor LLC Class B                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     19556 | NS      | $195560.00    | 0.05%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hfg Ln Trs:b1v9nw5                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-77119.65    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bdev Ln Trs:0081180                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-70111.63    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Pengana International Equities Ltd                                               | Pengana International Equities, Ltd.                                             | CUSIP: Q7377W101<br>LEI: 549300CHRVZUD361YS09 | Long             | EC               | CORP              | AU        |   4101590 | NS      | $3308031.47   | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hvpe Ln Trs:br30mj8                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $309438.19    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Poln Ln Trs:bmhg0h1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GG        |         1 | NC      | $-45800.26    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Soi Fp Trs:bz6t5c2                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $-7682.56     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Neurocrine Biosciences Inc                                                       | Neurocrine Biosciences, Inc.                                                     | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Short            | EC               | CORP              | US        |      -956 | NS      | $-122587.88   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFQ2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    175000 | PA      | $109613.35    | 0.03%             | 2035-01-30      | Variable      | 2.16%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman Next Generation Connectivity Fund Inc                           | Neuberger Berman Next Generation Connectivity Fund, Inc.                         | CUSIP: 64133Q108<br>LEI: 549300GRTFKXVB9LQE61 | Long             | EC               | RF                | US        |    165408 | NS      | $2459616.96   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Arr Ln Trs:0063326                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $3568.46      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Amazon.com Inc                                                                   | Amazon.com, Inc.                                                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Short            | EC               | CORP              | US        |     -8060 | NS      | $-1886926.60  | -0.51%            |  |  |  | No            | 1                  | On Loan: No      |
| Ross Acquisition Corp Ii                                                         | Ross Acquisition Corp. II                                                        | CUSIP: G7641C114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     28225 | NC      | $2545.90      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| D'ieteren Group                                                                  | D'ieteren Group                                                                  | CUSIP: N/A<br>LEI: 549300DV5KJ23OKVTW34       | Short            | EC               | CORP              | BE        |      -469 | NS      | $-93021.79    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Valuence Merger Corp I                                                           | Valuence Merger Corp. I                                                          | CUSIP: G9R16L118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     60778 | NC      | $8928.29      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Expn Ln Trs:b19nlv4                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-263443.32   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Blackrock New York Municipal Income Trust                                        | BlackRock New York Municipal Income Trust                                        | CUSIP: 09248L106<br>LEI: PJKTUMDJPIZ89SB71052 | Long             | EC               | RF                | US        |      1606 | NS      | $15096.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Interpump Group Spa                                                              | Interpump Group SpA                                                              | CUSIP: N/A<br>LEI: 815600C79D0F31F4D395       | Short            | EC               | CORP              | IT        |      -248 | NS      | $-10177.32    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Accenture Plc                                                                    | Accenture PLC                                                                    | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Short            | EC               | CORP              | IE        |      -236 | NS      | $-63035.60    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Crw Ln Trs:b2425g6                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-129617.27   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Evergy Inc                                                                       | Evergy, Inc.                                                                     | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Short            | EC               | CORP              | US        |      -536 | NS      | $-37948.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Cyberark Software Ltd                                                            | CyberArk Software, Ltd.                                                          | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Short            | EC               | CORP              | IL        |      -422 | NS      | $-173640.34   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Baker Steel Resources Trust, Ltd. TRS                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $307382.46    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Armada II SPAC Sponsor Equity Class B                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     14615 | NS      | $146150.00    | 0.04%             |  |  |  | No            | 3                  | On Loan: No      |
| Pdd Holdings Inc                                                                 | PDD Holdings, Inc.                                                               | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Short            | EC               | CORP              | KY        |     -1036 | NS      | $-117534.20   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Norfolk Southern Corp                                                            | Norfolk Southern Corp.                                                           | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Short            | EC               | CORP              | US        |      -160 | NS      | $-44480.00    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $3039138.00   | 0.82%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Just Ln Trs:bcrx1j1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-693627.67   | -0.19%            |  |  |  | No            | 2                  | On Loan: No      |
| Liberty Latin America Ltd                                                        | Liberty Latin America, Ltd.                                                      | CUSIP: G9001E128<br>LEI: 213800YWQHEAX7CAVO83 | Short            | EC               | CORP              | BM        |    -13614 | NS      | $-97203.96    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Vicor Corp                                                                       | Vicor Corp.                                                                      | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Short            | EC               | CORP              | US        |     -1029 | NS      | $-45728.76    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ionis Pharmaceuticals Inc                                                        | Ionis Pharmaceuticals, Inc.                                                      | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Short            | EC               | CORP              | US        |     -3451 | NS      | $-148323.98   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Doordash Inc                                                                     | DoorDash, Inc.                                                                   | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Short            | EC               | CORP              | US        |     -2883 | NS      | $-721470.75   | -0.19%            |  |  |  | No            | 1                  | On Loan: No      |
| Geberit Ag                                                                       | Geberit AG                                                                       | CUSIP: N/A<br>LEI: 52990093Z5OHD6T7BS47       | Short            | EC               | CORP              | CH        |       -77 | NS      | $-59154.20    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Watsco Inc                                                                       | Watsco, Inc.                                                                     | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Short            | EC               | CORP              | US        |      -325 | NS      | $-146536.00   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Climaterock                                                                      | ClimateRock                                                                      | CUSIP: G2311X134<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     23557 | NC      | $3936.37      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bbh Ln Trs:bzcnll9                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $60646.86     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Cpg Ln Trs:bd6k457                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-70742.87    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Centerpoint Energy Inc                                                           | CenterPoint Energy, Inc.                                                         | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Short            | EC               | CORP              | US        |      -300 | NS      | $-11646.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Union Pacific Corp                                                               | Union Pacific Corp.                                                              | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Short            | EC               | CORP              | US        |      -237 | NS      | $-52606.89    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Doximity Inc                                                                     | Doximity, Inc.                                                                   | CUSIP: 26622P107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1858 | NS      | $-109157.50   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEH3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    460000 | PA      | $283414.74    | 0.08%             | 2034-06-30      | Variable      | 5.66%                 | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: CAD 10/09/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-217227.00   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| Vast Renewables Ltd                                                              | Vast Renewables, Ltd.                                                            | CUSIP: Q9379E113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     87846 | NC      | $1142.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ALTERNATIVE CAPITAL INVETMTS FUND III LP 2                                       | ALTERNATIVE CAPITAL INVETMTS FUND III LP 2                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     14452 | NS      | $13583111.23  | 3.67%             |  |  |  | No            | N/A                | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bez Ln Trs:byq0jc6                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-113395.48   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5775                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |         9 | NC      | $2520.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Icp Ln Trs:byt1dj1                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-241501.43   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| XTEND                                                                            | XTEND Preferred B-2 Shares                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | IL        |    775774 | NS      | $1037209.84   | 0.28%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bowl Ln Trs:bd0nvk6                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-48400.79    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Pioneer Municipal High Income Advantage Fund Inc                                 | Pioneer Municipal High Income Advantage Fund, Inc.                               | CUSIP: 723762100<br>LEI: UE8ZNXHQH48NNA19I459 | Long             | EC               | RF                | US        |       961 | NS      | $7793.71      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | FIGX Acquisition Partners LLC Class A                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    112488 | NS      | $449.95       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Netease Inc                                                                      | NetEase, Inc.                                                                    | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Short            | EC               | CORP              | KY        |     -2396 | NS      | $-312198.80   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QEP5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    161000 | PA      | $101558.96    | 0.03%             | 2034-08-29      | Variable      | 2.23%                 | No            | 2                  | On Loan: No      |
| Dun & Bradstreet Holdings Inc                                                    | Dun & Bradstreet Holdings, Inc.                                                  | CUSIP: 26484T106<br>LEI: 254900LNALVKD1ZX7U27 | Short            | EC               | CORP              | US        |   -197214 | NS      | $-1794647.40  | -0.48%            |  |  |  | No            | 1                  | On Loan: No      |
| Sbc Medical Group Holdings Inc                                                   | SBC Medical Group Holdings, Inc.                                                 | CUSIP: 73245B115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      9738 | NC      | $1851.68      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Vertex, Inc. TRS                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $59639.66     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Digital Asset Acquisition Corp                                                   | Digital Asset Acquisition Corp.                                                  | CUSIP: G2868C129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    109212 | NS      | $1175121.12   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $14013067.00  | 3.79%             |  |  |  | No            | 2                  | On Loan: No      |
| Scage Future                                                                     | Scage Future                                                                     | CUSIP: G7840J118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     71462 | NC      | $3930.41      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5950                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        14 | NC      | $59276.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Pure Storage Inc                                                                 | Pure Storage, Inc.                                                               | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Short            | EC               | CORP              | US        |      -362 | NS      | $-21546.24    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Asml Holding Nv                                                                  | ASML Holding NV                                                                  | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Short            | EC               | CORP              | NL        |      -233 | NS      | $-163023.15   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Ellsworth Growth And Income Fund Ltd                                             | Ellsworth Growth and Income Fund, Ltd.                                           | CUSIP: 289074106<br>LEI: 549300GYFOXHCDQTI772 | Long             | EC               | RF                | US        |     85672 | NS      | $904696.32    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Columbus Circle Convertible Notes                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2220157 | PA      | $2153552.29   | 0.58%             | 2049-12-31      | Fixed         | 0.00%                 | No            | 3                  | On Loan: No      |
| Futuretech Ii Acquisition Corp                                                   | FutureTech II Acquisition Corp.                                                  | CUSIP: 36119D111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     48383 | NC      | $1693.41      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Emg Ln Trs:bj1dlw9                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-111880.26   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Dscv Ln Trs:0005588                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-166644.89   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | MS.TB BROKER SWEEP                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   1206060 | NS      | $1206060.42   | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bby Ln Trs:0096162                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-63615.33    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hwdn Ln Trs:0557681                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-243290.02   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Iren Ltd                                                                         | IREN, Ltd.                                                                       | CUSIP: Q4982L109<br>LEI: 254900FZF02RB3NNGB71 | Long             | EC               | CORP              | AU        |     13042 | NS      | $210106.62    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Harmonic Inc                                                                     | Harmonic, Inc.                                                                   | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Short            | EC               | CORP              | US        |     -4102 | NS      | $-34908.02    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | MI7 Founders, LLC (MBAV) Convertible Note 1% 7/30                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   3081950 | PA      | $3081950.00   | 0.83%             | 2030-07-01      | Fixed         | 1.00%                 | No            | 3                  | On Loan: No      |
| Zoomcar Holdings Inc                                                             | Zoomcar Holdings, Inc.                                                           | CUSIP: 45784G119<br>LEI: 549300U6QXNGB66F1K14 | N/A              | DE               | CORP              | US        |     71433 | NC      | $642.90       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Guardant Health Inc                                                              | Guardant Health, Inc.                                                            | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Short            | EC               | CORP              | US        |     -2561 | NS      | $-104949.78   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Pioneer Municipal High Income Fund Trust                                         | Pioneer Municipal High Income Fund Trust                                         | CUSIP: 723763108<br>LEI: 1SKUXW31ZFWF61CETQ82 | Long             | EC               | RF                | US        |    108304 | NS      | $972569.92    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Star Holdings                                                                    | Star Holdings                                                                    | CUSIP: 85512G106<br>LEI: 549300NXTGWF12PTMW64 | Long             | EC               | CORP              | US        |    188549 | NS      | $1355667.31   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5785                                              | CUSIP: 58599HDT1<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        10 | NC      | $4200.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Four Ln Trs:0664097                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-370324.88   | -0.10%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Alfa Ln Trs:bdhxpg3                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-16503.61    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Cantor Equity Partners Iii Inc                                                   | Cantor Equity Partners III, Inc.                                                 | CUSIP: G1828A108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     61275 | NS      | $642162.00    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Integrity Labs Inc.                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    439521 | NS      | $439521.00    | 0.12%             |  |  |  | No            | 3                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QED2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    276000 | PA      | $188592.73    | 0.05%             | 2034-03-31      | Variable      | 1.73%                 | No            | 2                  | On Loan: No      |
| Nemetschek Se                                                                    | Nemetschek SE                                                                    | CUSIP: N/A<br>LEI: 529900R0S2IX1S358J38       | Short            | EC               | CORP              | DE        |      -274 | NS      | $-40743.38    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Mastercard Inc                                                                   | Mastercard, Inc.                                                                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Short            | EC               | CORP              | US        |     -1312 | NS      | $-743208.64   | -0.20%            |  |  |  | No            | 1                  | On Loan: No      |
| Adyen Nv                                                                         | Adyen NV                                                                         | CUSIP: N/A<br>LEI: 724500973ODKK3IFQ447       | Short            | EC               | CORP              | NL        |       -54 | NS      | $-93090.49    | -0.03%            |  |  |  | Yes           | 1                  | On Loan: No      |
| Leddartech Holdings Inc                                                          | LeddarTech Holdings, Inc.                                                        | CUSIP: 52328E113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     21521 | NC      | $123.96       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| K&f Growth Acquisition Corp Ii                                                   | K&F Growth Acquisition Corp. II                                                  | CUSIP: G52258129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      8118 | NC      | $1055.75      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Crst Ln Trs:b8vzxt9                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-28758.60    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6145                                              | CUSIP: 58599HSQ1<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        62 | NC      | $592410.00    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Crown Castle Inc                                                                 | Crown Castle, Inc.                                                               | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Short            | EC               | CORP              | US        |      -507 | NS      | $-53280.63    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Gaw Ln Trs:0371847                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-811272.98   | -0.22%            |  |  |  | No            | 2                  | On Loan: No      |
| Newhold Investment Corp Iii                                                      | NewHold Investment Corp III Sponsor Shs Class A                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     87582 | NS      | $326.42       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | Cal Redwood SPAC Sponsor Equity Class B                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21922 | NS      | $219220.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Morgan Stanley                                                                   | FNCL 6 9/25 TBA MSFTA                                                            | CUSIP: TRF060691<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $165043.75    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Agnico Eagle Mines Ltd                                                           | Agnico Eagle Mines, Ltd.                                                         | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Short            | EC               | CORP              | CA        |     -1183 | NS      | $-146859.00   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Iem Ln Trs:3123249                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1517569.99   | 0.41%             |  |  |  | No            | 2                  | On Loan: No      |
| Universal Music Group Nv                                                         | Universal Music Group NV                                                         | CUSIP: N/A<br>LEI: 724500GJBUL3D9TW9Y18       | Short            | EC               | CORP              | NL        |   -106699 | NS      | $-3090395.22  | -0.83%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFB5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     32000 | PA      | $20291.39     | 0.01%             | 2034-10-08      | Variable      | 2.21%                 | No            | 2                  | On Loan: No      |
| Eaton Vance New York Municipal Bond Fund                                         | Eaton Vance New York Municipal Bond Fund                                         | CUSIP: 27827Y109<br>LEI: 5493003LD9U89XVQ7W91 | Long             | EC               | RF                | US        |    144910 | NS      | $1314333.70   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Mercadolibre Inc                                                                 | MercadoLibre, Inc.                                                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Short            | EC               | CORP              | US        |      -196 | NS      | $-465282.44   | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc/the                                                               | Home Depot, Inc.                                                                 | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Short            | EC               | CORP              | US        |      -671 | NS      | $-246599.21   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Western Midstream Partners Lp                                                    | Western Midstream Partners LP                                                    | CUSIP: 958669103<br>LEI: L6D8A6MLSY454J2JXJ60 | Short            | EC               | CORP              | US        |     -3484 | NS      | $-141903.32   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| BEEHERO LTD                                                                      | BEEHERO LTD                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |       322 | NS      | $371757.90    | 0.10%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Vsvs Ln Trs:b82yxw8                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-20870.02    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Aerovironment Inc                                                                | AeroVironment, Inc.                                                              | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Short            | EC               | CORP              | US        |        -1 | NS      | $-267.64      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Lmp Ln Trs:b4wfw71                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-128629.87   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 08/15/25 P5780                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |         9 | NC      | $3735.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Exponent Inc                                                                     | Exponent, Inc.                                                                   | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Short            | EC               | CORP              | US        |      -561 | NS      | $-38686.56    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Enbridge Inc                                                                     | Enbridge, Inc.                                                                   | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Short            | EC               | CORP              | CA        |     -4235 | NS      | $-191791.46   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Newhold Investment Corp Iii                                                      | NewHold Investment Corp III Warrants                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      5474 | NC      | $0.01         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Futr Ln Trs:byzn904                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-82553.80    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Asm International Nv                                                             | ASM International NV                                                             | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Short            | EC               | CORP              | NL        |       -59 | NS      | $-28783.94    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Solidion Technology Inc                                                          | Solidion Technology, Inc.                                                        | CUSIP: 67022R111<br>LEI: 529900AIFRB6J51X8T59 | N/A              | DE               | CORP              | US        |     29262 | NC      | $3804.06      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gerresheimer Ag                                                                  | Gerresheimer AG                                                                  | CUSIP: D2852S109<br>LEI: 5299006GD4UWSYZOKC28 | Long             | EC               | CORP              | DE        |     56542 | NS      | $2799128.08   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Jsg Ln Trs:0476281                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-58863.17    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Trimble Inc                                                                      | Trimble, Inc.                                                                    | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Short            | EC               | CORP              | US        |      -608 | NS      | $-51005.12    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Chain Bridge I                                                                   | Chain Bridge I                                                                   | CUSIP: G2061X110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     33367 | NC      | $850.86       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                                                           | China Evergrande Group                                                           | CUSIP: AN0016476<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |  13321000 | PA      | $233117.50    | 0.06%             | 2024-03-29      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| Pagseguro Digital Ltd                                                            | Pagseguro Digital, Ltd.                                                          | CUSIP: G68707101<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | KY        |    277770 | NS      | $2174939.10   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Bitfufu Inc                                                                      | BitFuFu, Inc.                                                                    | CUSIP: G1152A120<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     29947 | NC      | $9729.78      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1057091.00  | -0.29%            |  |  |  | No            | 2                  | On Loan: No      |
| GRAF GLOBAL SPONSOR                                                              | GRAF GLOBAL SPONSOR LLC CLASS A SPONSOR SHARES                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     20960 | NS      | $21169.60     | 0.01%             |  |  |  | No            | 3                  | On Loan: No      |
| Athena Technology Acquisition Corp Ii                                            | Athena Technology Acquisition Corp. II                                           | CUSIP: 04687C113<br>LEI: 5493008CK2CE7TGDP465 | N/A              | DE               | CORP              | US        |     36968 | NC      | $1999.97      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bwy Ln Trs:0090498                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-173530.51   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hbmn Sw Trs:b01tcc1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CH        |         1 | NC      | $511421.36    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Sgo Fp Trs:7380482                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | FR        |         1 | NC      | $-62725.42    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Nvni Group Ltd                                                                   | Nvni Group, Ltd.                                                                 | CUSIP: G50716110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     15665 | NC      | $1210.90      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rational Ag                                                                      | Rational AG                                                                      | CUSIP: N/A<br>LEI: 529900K139N6UFJ1A758       | Short            | EC               | CORP              | DE        |       -88 | NS      | $-68339.67    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mgns Ln Trs:0808561                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-314971.47   | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Brsc Ln Trs:0643610                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1398100.58   | 0.38%             |  |  |  | No            | 2                  | On Loan: No      |
| Roku Inc                                                                         | Roku, Inc.                                                                       | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Short            | EC               | CORP              | US        |     -1128 | NS      | $-106212.48   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Synopsys Inc                                                                     | Synopsys, Inc.                                                                   | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Short            | EC               | CORP              | US        |       -54 | NS      | $-34207.38    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Servicenow Inc                                                                   | ServiceNow, Inc.                                                                 | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Short            | EC               | CORP              | US        |       -69 | NS      | $-65075.28    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Holdco Nuvo Group Dg Ltd                                                         | Holdco Nuvo Group DG, Ltd.                                                       | CUSIP: M53051112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     63179 | NC      | $31.59        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dynamix Corp                                                                     | Dynamix Corp.                                                                    | CUSIP: G2949D112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     55156 | NC      | $103693.28    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Critical Metals Corp                                                             | Critical Metals Corp. Warrants                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |     50528 | NC      | $70739.20     | 0.02%             |  |  |  | No            | 3                  | On Loan: No      |
| Nyli Cbre Global Infrastructure Megatrends Term Fund                             | NYLI CBRE Global Infrastructure Megatrends Term Fund                             | CUSIP: 56064Q107<br>LEI: 549300TWA0SUTWA4FE65 | Long             | EC               | RF                | US        |     74080 | NS      | $1062307.20   | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Metal Sky Star Acquisition Corp                                                  | Metal Sky Star Acquisition Corp.                                                 | CUSIP: G6053N121<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     40420 | NC      | $511.31       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Destra Multi-alternative Fund                                                    | Destra Multi-Alternative Fund                                                    | CUSIP: 25065A502<br>LEI: 549300SP0KUS5HR5P569 | Long             | EC               | RF                | US        |     56768 | NS      | $496152.32    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Stryker Corp                                                                     | Stryker Corp.                                                                    | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Short            | EC               | CORP              | US        |      -310 | NS      | $-121746.30   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Schiehallion Fund Ltd/the                                                        | Schiehallion Fund, Ltd.                                                          | CUSIP: G78497107<br>LEI: 213800NQOLJA1JCWXQ56 | Long             | EC               | CORP              | GB        |      1013 | NS      | $1215.60      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $2576660.00   | 0.70%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Auto Ln Trs: Bvyvfw2                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-356083.00   | -0.10%            |  |  |  | No            | 2                  | On Loan: No      |
| Cohen Circle Acquisition Corp Ii                                                 | Cohen Circle Acquisition Corp. II                                                | CUSIP: G2254C105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     43473 | NS      | $446902.44    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Broad Capital Acquisition Corp                                                   | Broad Capital Acquisition Corp.                                                  | CUSIP: 11125B110<br>LEI: 549300LQ2W8Q2EETCL11 | N/A              | DE               | CORP              | US        |     53360 | NC      | $10138.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Hlma Ln Trs:0405207                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-250599.84   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Mplx Lp                                                                          | MPLX LP                                                                          | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Short            | EC               | CORP              | US        |     -7991 | NS      | $-419527.50   | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Monks Investment Trust PLC TRS                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $85511.73     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Byit Ln Trs:bmh18q1                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-116837.06   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Pfd Ln Trs:b7n0k05                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-131430.93   | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 09/19/25 P5870                                              | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        11 | NC      | $31845.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Labl Inc                                                                         | LABL, Inc.                                                                       | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |   3392270 | PA      | $3082725.70   | 0.83%             | 2028-10-30      | Floating      | 9.46%                 | No            | 2                  | On Loan: No      |
| Aspire Biopharma Holdings Inc                                                    | Aspire Biopharma Holdings, Inc.                                                  | CUSIP: 738920115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     70545 | NC      | $4945.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| News Corp                                                                        | News Corp.                                                                       | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Short            | EC               | CORP              | US        |     -3582 | NS      | $-105024.24   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Plus Ln Trs:bbt3ps9                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $-74548.10    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Granite Ridge Resources Inc                                                      | Granite Ridge Resources, Inc.                                                    | CUSIP: 387432107<br>LEI: 254900CAHJQKOQ1YZC67 | Long             | EC               | CORP              | US        |     33264 | NS      | $172640.16    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Municipal Fund Inc                                              | Neuberger Berman Municipal Fund, Inc.                                            | CUSIP: 64124P101<br>LEI: 549300IIZWX8QVUHXO20 | Long             | EC               | RF                | US        |       892 | NS      | $8741.60      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Renatus Tactical Acquisition Corp I                                              | Renatus Tactical Acquisition Corp. I                                             | CUSIP: G7490F127<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      6969 | NC      | $12056.37     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Alight Inc                                                                       | Alight, Inc.                                                                     | CUSIP: 01626W101<br>LEI: 549300600ESCO1HTVN74 | Short            | EC               | CORP              | US        |   -130829 | NS      | $-701243.44   | -0.19%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | Iron Horse II Sponsor Class B                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21574 | NS      | $215740.00    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs                                                                    | Pfizer, Inc.                                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $176758.89    | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Illumina Inc                                                                     | Illumina, Inc.                                                                   | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Short            | EC               | CORP              | US        |      -121 | NS      | $-12427.91    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Trump Media & Technology                                                         | Trump Media & Technology Group Corp.                                             | CUSIP: 25400QAA3<br>LEI: 6488S3A83U2SRQ48O215 | Long             | DBT              | CORP              | US        |      1462 | PA      | $1384410.49   | 0.37%             | 2028-05-29      | None          | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                              | Columbus Circle 1 Sponsor Corp LLC CL A                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     25580 | NS      | $217941.60    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                              | Cal Redwood SPAC Sponsor Equity Class A                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    175375 | NS      | $526.13       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Moderna Inc                                                                      | Moderna, Inc.                                                                    | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Short            | EC               | CORP              | US        |     -5458 | NS      | $-161338.48   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| L3harris Technologies Inc                                                        | L3Harris Technologies, Inc.                                                      | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Short            | EC               | CORP              | US        |      -368 | NS      | $-101133.76   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| 1261229 Bc Ltd                                                                   | 1261229 BC, Ltd.                                                                 | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1073053 | PA      | $1054194.09   | 0.28%             | 2030-10-08      | Floating      | 10.61%                | No            | 2                  | On Loan: No      |
| N/A                                                                              | Wen Sponsor LLC Class B                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    204636 | NS      | $204636.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Sgs Sa                                                                           | SGS SA                                                                           | CUSIP: N/A<br>LEI: 2138007JNS19JHNA2336       | Short            | EC               | CORP              | CH        |      -429 | NS      | $-43731.86    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                                              | EGH Sponsor LLC, Cl A                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     76184 | NS      | $228.55       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Mct Ln Trs:b15pv03                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $75759.30     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Csc Holdings Llc                                                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    559000 | PA      | $370337.50    | 0.10%             | 2031-02-15      | Fixed         | 3.38%                 | Yes           | 2                  | On Loan: No      |
| Us Treasury N/b                                                                  | U.S. Treasury Note                                                               | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -46658000 | PA      | $-46470276.20 | -12.55%           | 2027-06-30      | Fixed         | 3.75%                 | No            | 1                  | On Loan: No      |
| Stone Ridge Opportunities Fund LP                                                | Stone Ridge Opportunities Fund LP                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     29527 | NS      | $48896712.00  | 13.21%            |  |  |  | No            | N/A                | On Loan: No      |
| Community Health Systems Inc                                                     | Community Health Systems, Inc.                                                   | CUSIP: 203668108<br>LEI: 549300BQWM4WENQ3YW73 | Long             | EC               | CORP              | US        |    216402 | NS      | $562645.20    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Chs/community Health Sys                                                         | CHS/Community Health Systems, Inc.                                               | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1843000 | PA      | $1455970.00   | 0.39%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| Uber Technologies Inc                                                            | Uber Technologies, Inc.                                                          | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Short            | EC               | CORP              | US        |       -78 | NS      | $-6844.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                                                 | S&P 500 INDEX-SPX US 10/17/25 P6060                                              | CUSIP: 58599HA56<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        12 | NC      | $96960.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                                                   | Morgan Stanley                                                                   | CUSIP: 61760QFZ2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $16094.75     | 0.00%             | 2030-04-30      | Variable      | 2.59%                 | No            | 2                  | On Loan: No      |
| Beach Acquisition Bidco                                                          | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   1034000 | PA      | $1081822.50   | 0.29%             | 2033-07-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| Mckesson Corp                                                                    | McKesson Corp.                                                                   | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Short            | EC               | CORP              | US        |       -70 | NS      | $-48547.80    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Abrdn Japan Equity Fund Inc                                                      | abrdn Japan Equity Fund, Inc.                                                    | CUSIP: 00306J109<br>LEI: 549300TENE1BGI09O157 | Long             | EC               | RF                | US        |     46838 | NS      | $351753.38    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                                                          | Recv Bff Im Trs: Bd0tsx6                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | IT        |         1 | NC      | $-28257.07    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                              | Forward Contracts: GBP 09/26/2025                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-660682.00   | -0.18%            |  |  |  | No            | 2                  | On Loan: No      |
| Rithm Acquisition Corp                                                           | Rithm Acquisition Corp.                                                          | CUSIP: G75751118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      3070 | NC      | $1535.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-08-30

**Name of Applicant:** Saba Capital Income & Opportunities Fund

**Signature:** Troy Statczar

**Name of Signer:** Troy Statczar

**Title:** Principal Financial Officer