# EDGAR Filing Document

**Accession Number:** 0001011443
**File Stem:** 0001011443-26-000002
**Filing Date:** 2026-2
**Character Count:** 31485
**Document Hash:** b7d8bb3e1441f6f907ebff965118b16b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001011443-26-000002.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001011443-26-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06078
- **FILM NUMBER:** 26640167

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

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

### FORM 13F COVER PAGE

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

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

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

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

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

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

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

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

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

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

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

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

ROYA DOUD  DALLAS, TX  02-17-2026<br>[Signature]  [City, State]  [Date]

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

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

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

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

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 260

**Form 13F Information Table Value Total:** $12727446981

      (round to nearest dollar)

**List of Other Included Managers:**

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

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

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 1RT ACQUISITION CORP. | *W EXP 06/26/203 | G6757R113 |  | 36257 | 62501 | SH |  | SOLE |  | 62501 | 0 | 0 |
| 1RT ACQUISITION CORP. | USD CL A ORD SHS | G6757R105 |  | 2542901 | 249304 | SH |  | SOLE |  | 249304 | 0 | 0 |
| 21SHARES ETHEREUM ETF | SHS | 04071F102 |  | 596388 | 40215 | SH |  | SOLE |  | 40215 | 0 | 0 |
| AGNC INVT CORP | COM | 00123Q104 |  | 19296000 | 1800000 | SH | Put | SOLE |  | 1800000 | 0 | 0 |
| AIR LEASE CORP | CL A | 00912X302 |  | 295603160 | 4602260 | SH |  | SOLE |  | 4602260 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | NOTE 0.500% 6/0 | 01609WBG6 |  | 18663454 | 12000000 | PRN |  | SOLE |  | 12000000 | 0 | 0 |
| ALIGNMENT HEALTHCARE INC | COM | 01625V104 |  | 4451650 | 225400 | SH | Call | SOLE |  | 225400 | 0 | 0 |
| ALIGNMENT HEALTHCARE INC | NOTE 4.250%11/1 | 01625VAB0 |  | 36578301 | 24100000 | PRN |  | SOLE |  | 24100000 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 4612860 | 14700 | SH | Put | SOLE |  | 14700 | 0 | 0 |
| ALUSSA ENERGY ACQUISITION CO | UNIT 99/99/9999 | G0233J126 |  | 5050000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 |  | 593271 | 38700 | SH | Put | SOLE |  | 38700 | 0 | 0 |
| AMERICAN DRIVE ACQUISITION C | UNIT 12/04/2030 | G0R91M121 |  | 4985000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| AMERICAN EXCEPTIONALISM ACQU | ORD CL A | G0273J101 |  | 3986500 | 350000 | SH |  | SOLE |  | 350000 | 0 | 0 |
| AMICUS THERAPEUTICS INC | COM | 03152W109 |  | 217160000 | 15250000 | SH |  | SOLE |  | 15250000 | 0 | 0 |
| ANDERSEN GROUP INC | CL A | 033853102 |  | 1931785 | 74500 | SH |  | SOLE |  | 74500 | 0 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 11898376 | 185796 | SH |  | SOLE |  | 185796 | 0 | 0 |
| ANI PHARMACEUTICALS INC | NOTE 2.250% 9/0 | 00182CAC7 |  | 28589000 | 22650000 | PRN |  | SOLE |  | 22650000 | 0 | 0 |
| ARCHER AVIATION INC | COM CL A | 03945R102 |  | 9400000 | 1250000 | SH |  | SOLE |  | 1250000 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 14161000 | 700000 | SH | Put | SOLE |  | 700000 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | 6.75 SE B PFD | 03990B309 |  | 7541732 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 57118398 | 1966887 | SH |  | SOLE |  | 1966887 | 0 | 0 |
| ARTIUS II ACQUISITION INC | RIGHT 11/27/2029 | G0509J123 |  | 184950 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| ARTIUS II ACQUISITION INC | SHS CL A | G0509J115 |  | 5149979 | 499998 | SH |  | SOLE |  | 499998 | 0 | 0 |
| ASPEN INSURANCE HOLDINGS LTD | ORD SHS CL A | G05384501 |  | 166950000 | 4500000 | SH |  | SOLE |  | 4500000 | 0 | 0 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 254205 | 3500 | SH | Call | SOLE |  | 3500 | 0 | 0 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 217890 | 3000 | SH | Put | SOLE |  | 3000 | 0 | 0 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 1855406 | 25546 | SH |  | SOLE |  | 25546 | 0 | 0 |
| ATLANTA BRAVES HLDGS INC | COM SER C | 047726302 |  | 16521818 | 418804 | SH |  | SOLE |  | 418804 | 0 | 0 |
| AURORA INNOVATION INC | CLASS A COM | 051774107 |  | 422400 | 110000 | SH | Put | SOLE |  | 110000 | 0 | 0 |
| AVIDITY BIOSCIENCES INC | COM | 05370A108 |  | 314847450 | 4365000 | SH |  | SOLE |  | 4365000 | 0 | 0 |
| BAIN CAP GSS INVT CORP | *W EXP 01/01/202 | G0R78B114 |  | 26109 | 40001 | SH |  | SOLE |  | 40001 | 0 | 0 |
| BAIN CAP GSS INVT CORP | ORD CL A | G0R78B106 |  | 2016050 | 200005 | SH |  | SOLE |  | 200005 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 9174000 | 166800 | SH | Put | SOLE |  | 166800 | 0 | 0 |
| BETA TECHNOLOGIES INC | COM SHS CL A | 086921103 |  | 2821000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| BITWISE ETHEREUM ETF | SHS | 091955104 |  | 17732416 | 833682 | SH |  | SOLE |  | 833682 | 0 | 0 |
| BLACKLINE INC | NOTE 1.000% 6/0 | 09239BAF6 |  | 19591041 | 18505000 | PRN |  | SOLE |  | 18505000 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 6155954 | 233800 | SH | Put | SOLE |  | 233800 | 0 | 0 |
| BOLD EAGLE ACQUISITION CORP | CL A | G2003N105 |  | 4761000 | 450000 | SH |  | SOLE |  | 450000 | 0 | 0 |
| BOX INC | CL A | 10316T104 |  | 2168475 | 72500 | SH | Call | SOLE |  | 72500 | 0 | 0 |
| BOX INC | CL A | 10316T104 |  | 2168475 | 72500 | SH | Put | SOLE |  | 72500 | 0 | 0 |
| BOX INC | CL A | 10316T104 |  | 5586171 | 186766 | SH |  | SOLE |  | 186766 | 0 | 0 |
| BRIGHTHOUSE FINL INC | COM | 10922N103 |  | 136059000 | 2100000 | SH |  | SOLE |  | 2100000 | 0 | 0 |
| BRIGHTSPRING HEALTH SVCS INC | COM | 10950A106 |  | 11235000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| CANTOR EQUITY PARTNERS I INC | SHS CL A | G1827K107 |  | 1145100 | 110000 | SH |  | SOLE |  | 110000 | 0 | 0 |
| CANTOR EQUITY PARTNERS III I | SHS CL A | G1828A108 |  | 3060000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| CANTOR EQUITY PARTNERS IV IN | SHS CL A | G1828E100 |  | 4626000 | 450000 | SH |  | SOLE |  | 450000 | 0 | 0 |
| CANTOR EQUITY PARTNERS V INC | SHS CL A S | G1828S109 |  | 1537500 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| CARDINAL INFRASTRUCTURE GROU | CL A | 14154A102 |  | 1668299 | 68995 | SH |  | SOLE |  | 68995 | 0 | 0 |
| CARLYLE SECURED LENDING INC | COM | 872280102 |  | 211081 | 16900 | SH | Put | SOLE |  | 16900 | 0 | 0 |
| CENTERPOINT ENERGY INC | NOTE 4.250% 8/1 | 15189TBD8 |  | 12592975 | 11500000 | PRN |  | SOLE |  | 11500000 | 0 | 0 |
| CHART INDS INC | COM | 16115Q308 |  | 406085843 | 1969092 | SH |  | SOLE |  | 1969092 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 855875 | 4100 | SH | Call | SOLE |  | 4100 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 10333125 | 49500 | SH | Put | SOLE |  | 49500 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 5968163 | 28590 | SH |  | SOLE |  | 28590 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 3837381 | 20680 | SH |  | SOLE |  | 20680 | 0 | 0 |
| CHEMOURS CO | COM | 163851108 |  | 5176411 | 439051 | SH |  | SOLE |  | 439051 | 0 | 0 |
| CHURCHILL CAP CORP XI | UNIT 12/10/2030 | G2131A124 |  | 3063000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| CIDARA THERAPEUTICS INC | COM NEW | 171757206 |  | 278321400 | 1260000 | SH |  | SOLE |  | 1260000 | 0 | 0 |
| CIMPRESS PLC | SHS EURO | G2143T103 |  | 2730190 | 41000 | SH | Put | SOLE |  | 41000 | 0 | 0 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 6702416 | 288400 | SH | Call | SOLE |  | 288400 | 0 | 0 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 19396104 | 834600 | SH | Put | SOLE |  | 834600 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 8401680 | 72000 | SH | Put | SOLE |  | 72000 | 0 | 0 |
| CLARITEV CORPORATION | CL A NEW | 62548M209 |  | 3206250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 9004068 | 373303 | SH |  | SOLE |  | 373303 | 0 | 0 |
| COINBASE GLOBAL INC | NOTE 0.250% 4/0 | 19260QAF4 |  | 38158553 | 37200000 | PRN |  | SOLE |  | 37200000 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 345546750 | 3975000 | SH |  | SOLE |  | 3975000 | 0 | 0 |
| COMMVAULT SYS INC | COM | 204166102 |  | 8537016 | 68100 | SH | Put | SOLE |  | 68100 | 0 | 0 |
| COMMVAULT SYS INC | COM | 204166102 |  | 2469592 | 19700 | SH |  | SOLE |  | 19700 | 0 | 0 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 |  | 16978920 | 862750 | SH |  | SOLE |  | 862750 | 0 | 0 |
| CONFLUENT INC | CLASS A COM | 20717M103 |  | 453600000 | 15000000 | SH |  | SOLE |  | 15000000 | 0 | 0 |
| COPA HOLDINGS SA | CL A | P31076105 |  | 1821211 | 15100 | SH | Put | SOLE |  | 15100 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 6717018 | 93800 | SH | Put | SOLE |  | 93800 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 6717018 | 93800 | SH |  | SOLE |  | 93800 | 0 | 0 |
| CSG SYS INTL INC | NOTE 3.875% 9/1 | 126349AH2 |  | 60071000 | 50800000 | PRN |  | SOLE |  | 50800000 | 0 | 0 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 1092847000 | 2450000 | SH |  | SOLE |  | 2450000 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 843138 | 6200 | SH | Call | SOLE |  | 6200 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 911133 | 6700 | SH | Put | SOLE |  | 6700 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 6799500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| DAYFORCE INC | COM | 15677J108 |  | 542906000 | 7850000 | SH |  | SOLE |  | 7850000 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 1145100 | 16500 | SH | Put | SOLE |  | 16500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1469745 | 9500 | SH | Call | SOLE |  | 9500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1469745 | 9500 | SH | Put | SOLE |  | 9500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 5699826 | 36842 | SH |  | SOLE |  | 36842 | 0 | 0 |
| DRUGS MADE IN AMER ACQ II CO | RIGHT 09/16/2030 | G2851K112 |  | 70000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| DRUGS MADE IN AMER ACQ II CO | USD ORD SHS | G2851K104 |  | 4950000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| DUKE ENERGY CORP NEW | NOTE 4.125% 4/1 | 26441CBY0 |  | 20626125 | 20000000 | PRN |  | SOLE |  | 20000000 | 0 | 0 |
| ECHOSTAR CORP | CL A | 278768106 |  | 8239460 | 75800 | SH | Put | SOLE |  | 75800 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 390266622 | 1909982 | SH |  | SOLE |  | 1909982 | 0 | 0 |
| ETF SER SOLUTIONS | US GLB JETS | 26922A842 |  | 14408331 | 513300 | SH | Put | SOLE |  | 513300 | 0 | 0 |
| EXACT SCIENCES CORP | COM | 30063P105 |  | 776592454 | 7646637 | SH |  | SOLE |  | 7646637 | 0 | 0 |
| EXZEO GROUP INC | COM SHS | 30234F101 |  | 1940000 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| FIDELITY ETHEREUM FD | SHS | 31613E103 |  | 33344976 | 1126139 | SH |  | SOLE |  | 1126139 | 0 | 0 |
| FIGX CAP ACQUISITION CORP. | *W EXP 06/17/203 | G3473K118 |  | 17169 | 62501 | SH |  | SOLE |  | 62501 | 0 | 0 |
| FIGX CAP ACQUISITION CORP. | USD CL A ORD SHS | G3473K100 |  | 1257520 | 125002 | SH |  | SOLE |  | 125002 | 0 | 0 |
| FORTUNA MNG CORP | NOTE 3.750% 6/3 | 349915AE8 |  | 17027301 | 10000000 | PRN |  | SOLE |  | 10000000 | 0 | 0 |
| FRANKLIN ETHEREUM TR | ETHEREUM ETF | 35351J109 |  | 893549 | 39678 | SH |  | SOLE |  | 39678 | 0 | 0 |
| FRESHPET INC | COM | 358039105 |  | 213255 | 3500 | SH | Call | SOLE |  | 3500 | 0 | 0 |
| FRESHPET INC | COM | 358039105 |  | 274185 | 4500 | SH | Put | SOLE |  | 4500 | 0 | 0 |
| FRESHPET INC | NOTE 3.000% 4/0 | 358039AB1 |  | 31868322 | 27200000 | PRN |  | SOLE |  | 27200000 | 0 | 0 |
| FRONTIER COMMUNICATIONS PARE | COM | 35909D109 |  | 296946000 | 7800000 | SH |  | SOLE |  | 7800000 | 0 | 0 |
| FUTURECREST ACQUISITION CORP | *W EXP 09/30/203 | G3730U115 |  | 54751 | 75001 | SH |  | SOLE |  | 75001 | 0 | 0 |
| FUTURECREST ACQUISITION CORP | CL A ORD SHS | G3730U107 |  | 3029152 | 299916 | SH |  | SOLE |  | 299916 | 0 | 0 |
| GAMESTOP CORP NEW | *W EXP 10/30/202 | 36467W117 |  | 82143 | 27290 | SH | Call | SOLE |  | 27290 | 0 | 0 |
| GAMESTOP CORP NEW | *W EXP 10/30/202 | 36467W117 |  | 370951 | 123240 | SH | Put | SOLE |  | 123240 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 9100256 | 453200 | SH | Call | SOLE |  | 453200 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 24746592 | 1232400 | SH | Put | SOLE |  | 1232400 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 6757984 | 336553 | SH |  | SOLE |  | 336553 | 0 | 0 |
| GENERAL PURP ACQUISITION COR | UNIT 12/03/2030 | G3810N122 |  | 2002000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| GLADSTONE CAP CORP | NOTE 5.875%10/0 | 376535AG5 |  | 7348815 | 7500000 | PRN |  | SOLE |  | 7500000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 44653200 | 50800 | SH | Put | SOLE |  | 50800 | 0 | 0 |
| GORES HLDGS X INC | *W EXP 05/02/203 | G4002F125 |  | 116238 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| GORES HLDGS X INC | SHS CL A | G4002F109 |  | 5125000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 1172650 | 235000 | SH | Call | SOLE |  | 235000 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 923150 | 185000 | SH | Put | SOLE |  | 185000 | 0 | 0 |
| GRAYSCALE ETHEREUM MINI TR E | SHS NEW | 38964R203 |  | 8730616 | 311141 | SH |  | SOLE |  | 311141 | 0 | 0 |
| HCM III ACQUISITION CORP | *W EXP 07/23/203 | G4365E111 |  | 15867 | 33334 | SH |  | SOLE |  | 33334 | 0 | 0 |
| HCM III ACQUISITION CORP | ORD SHS CL A | G4365E103 |  | 1004020 | 100002 | SH |  | SOLE |  | 100002 | 0 | 0 |
| HERBALIFE LTD | NOTE 4.250% 6/1 | 42703MAF0 |  | 5710699 | 5250000 | PRN |  | SOLE |  | 5250000 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | 7.625 MAND CONV | 42824C208 |  | 13236237 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| HIGHVIEW MERGER CORP | *W EXP 07/24/203 | G4569C119 |  | 33788 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| HIGHVIEW MERGER CORP | ORD SH CL A | G4569C101 |  | 2500000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 9766976 | 300800 | SH | Put | SOLE |  | 300800 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 1366597 | 42088 | SH |  | SOLE |  | 42088 | 0 | 0 |
| HINGE HEALTH INC | CL A | 433313103 |  | 3251500 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| HOLOGIC INC | COM | 436440101 |  | 625716000 | 8400000 | SH |  | SOLE |  | 8400000 | 0 | 0 |
| HUNTSMAN CORP | COM | 447011107 |  | 3000000 | 300000 | SH | Put | SOLE |  | 300000 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 5631864 | 29400 | SH | Put | SOLE |  | 29400 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 206039574 | 335400 | SH | Call | SOLE |  | 335400 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 149953071 | 244100 | SH | Put | SOLE |  | 244100 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 172613190 | 3476600 | SH | Put | SOLE |  | 3476600 | 0 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 1868419 | 83300 | SH | Put | SOLE |  | 83300 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 6557956 | 101800 | SH | Put | SOLE |  | 101800 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 5595044 | 26600 | SH | Put | SOLE |  | 26600 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 73404912 | 298200 | SH | Put | SOLE |  | 298200 | 0 | 0 |
| JENA ACQUISITION CORP II | RIGHT 03/31/2030 | G5093B113 |  | 126468 | 646400 | SH |  | SOLE |  | 646400 | 0 | 0 |
| JENA ACQUISITION CORP II | USD CL A ORD SHS | G5093B105 |  | 7117983 | 699900 | SH |  | SOLE |  | 699900 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7539948 | 23400 | SH | Put | SOLE |  | 23400 | 0 | 0 |
| KARBON CAP PARTNERS CORP | UNIT 12/11/2030 | G5225W126 |  | 4026000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| KENVUE INC | COM | 49177J102 |  | 43728767 | 2535001 | SH |  | SOLE |  | 2535001 | 0 | 0 |
| KOSMOS ENERGY LTD | NOTE 3.125% 3/1 | 500688AH9 |  | 16275987 | 38250000 | PRN |  | SOLE |  | 38250000 | 0 | 0 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 |  | 6810000 | 200000 | SH | Put | SOLE |  | 200000 | 0 | 0 |
| LATAM AIRLINES GROUP SA | SPONSORED ADR | 51817R205 |  | 33756250 | 625000 | SH | Put | SOLE |  | 625000 | 0 | 0 |
| LEGENCE CORP | CL A | 52476L109 |  | 19368000 | 450000 | SH |  | SOLE |  | 450000 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 287162383 | 5908691 | SH |  | SOLE |  | 5908691 | 0 | 0 |
| LIGHTWAVE LOGIC INC | COM | 532275104 |  | 1134000 | 350000 | SH |  | SOLE |  | 350000 | 0 | 0 |
| LIONSGATE STUDIOS CORP | COM | 53626N102 |  | 5337937 | 584659 | SH |  | SOLE |  | 584659 | 0 | 0 |
| LIVE OAK ACQUISITION CORP V | *W EXP 99/99/999 | G5509P110 |  | 197000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| LIVE OAK ACQUISITION CORP V | CL A SHS | G5509P102 |  | 4088595 | 396951 | SH |  | SOLE |  | 396951 | 0 | 0 |
| LUCID GROUP INC | COM NEW | 549498202 |  | 136385 | 12903 | SH |  | SOLE |  | 12903 | 0 | 0 |
| LUMEXA IMAGING HOLDINGS INC | COM | 550249106 |  | 2220000 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| MARRIOTT VACATIONS WORLDWIDE | NOTE 3.250%12/1 | 57164YAF4 |  | 15731172 | 16500000 | PRN |  | SOLE |  | 16500000 | 0 | 0 |
| MDU RES GROUP INC | COM | 552690109 |  | 585600 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| MEDLINE INC | COM CL A | 58507V107 |  | 9870000 | 235000 | SH |  | SOLE |  | 235000 | 0 | 0 |
| MIDCAP FINANCIAL INVSTMNT CO | COM NEW | 03761U502 |  | 2350920 | 205500 | SH | Put | SOLE |  | 205500 | 0 | 0 |
| MORGAN STANLEY DIRECT LENDIN | COM SHS | 61774A103 |  | 1275552 | 77400 | SH | Put | SOLE |  | 77400 | 0 | 0 |
| NABORS INDS INC | NOTE 1.750% 6/1 | 62957HAL9 |  | 4058530 | 5000000 | PRN |  | SOLE |  | 5000000 | 0 | 0 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 46606944 | 556800 | SH | Put | SOLE |  | 556800 | 0 | 0 |
| NEWELL BRANDS INC | COM | 651229106 |  | 744000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 30917304 | 1183664 | SH |  | SOLE |  | 1183664 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1003500 | 12500 | SH | Call | SOLE |  | 12500 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1003500 | 12500 | SH | Put | SOLE |  | 12500 | 0 | 0 |
| NEXTERA ENERGY INC | UNIT 06/01/2027 | 65339F663 |  | 7708345 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| NIO INC | NOTE 4.625%10/1 | 62914VAK2 |  | 8433556 | 9300000 | PRN |  | SOLE |  | 9300000 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 3072750 | 602500 | SH | Put | SOLE |  | 602500 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 1788305 | 350648 | SH |  | SOLE |  | 350648 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 614973600 | 2130000 | SH |  | SOLE |  | 2130000 | 0 | 0 |
| NOVANTA INC | UNIT 11/01/2028 | 67000B203 |  | 2728450 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1107716750 | 5939500 | SH | Put | SOLE |  | 5939500 | 0 | 0 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 30654190 | 453800 | SH | Put | SOLE |  | 453800 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | *W EXP 11/20/202 | 683712129 |  | 7155 | 7950 | SH | Put | SOLE |  | 7950 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | *W EXP 11/20/202 | 683712137 |  | 4136 | 7950 | SH | Put | SOLE |  | 7950 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | *W EXP 11/20/202 | 683712145 |  | 3175 | 7950 | SH | Put | SOLE |  | 7950 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | COM | 683712103 |  | 5917450 | 1015000 | SH | Put | SOLE |  | 1015000 | 0 | 0 |
| PAR TECHNOLOGY CORP | NOTE 1.500%10/1 | 698884AE3 |  | 6253358 | 6382000 | PRN |  | SOLE |  | 6382000 | 0 | 0 |
| PAR TECHNOLOGY CORP | NOTE 2.875% 4/1 | 698884AC7 |  | 4910057 | 4830000 | PRN |  | SOLE |  | 4830000 | 0 | 0 |
| PARAMOUNT SKYDANCE CORP | COM CL B | 69932A204 |  | 13401340 | 1000100 | SH |  | SOLE |  | 1000100 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 1891120 | 307000 | SH | Call | SOLE |  | 307000 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 3094784 | 502400 | SH | Put | SOLE |  | 502400 | 0 | 0 |
| PELOTON INTERACTIVE INC | NOTE 5.500%12/0 | 70614WAD2 |  | 37437557 | 22500000 | PRN |  | SOLE |  | 22500000 | 0 | 0 |
| PENN ENTERTAINMENT INC | COM | 707569109 |  | 1475000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| PENN ENTERTAINMENT INC | COM | 707569109 |  | 1054138 | 71467 | SH |  | SOLE |  | 71467 | 0 | 0 |
| PENNANTPARK FLOATING RATE CA | COM | 70806A106 |  | 2713329 | 292700 | SH | Put | SOLE |  | 292700 | 0 | 0 |
| PENNYMAC CORP | NOTE 5.500% 3/1 | 70932AAF0 |  | 21845460 | 21840000 | PRN |  | SOLE |  | 21840000 | 0 | 0 |
| PENNYMAC CORP | NOTE 8.500% 6/0 | 70932AAH6 |  | 21358505 | 20250000 | PRN |  | SOLE |  | 20250000 | 0 | 0 |
| PENNYMAC MTG INVT TR | COM | 70931T103 |  | 8367085 | 666700 | SH | Put | SOLE |  | 666700 | 0 | 0 |
| PERIMETER ACQUISITION CORP I | *W EXP 05/13/203 | G7010A111 |  | 141540 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| PERIMETER ACQUISITION CORP I | COM CL A | G7010A129 |  | 3700800 | 360000 | SH |  | SOLE |  | 360000 | 0 | 0 |
| PROCAP ACQUISITION CORP | *W EXP 05/16/203 | G7257A121 |  | 10334 | 33334 | SH |  | SOLE |  | 33334 | 0 | 0 |
| PROCAP ACQUISITION CORP | SHS CL A | G7257A105 |  | 1013020 | 100002 | SH |  | SOLE |  | 100002 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 6383000 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| PYROPHYTE ACQUISITION CORP. | *W EXP 07/30/203 | G7309T110 |  | 50000 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| PYROPHYTE ACQUISITION CORP. | CL A SHS | G7309T102 |  | 2515000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| REDWOOD TRUST INC | NOTE 7.750% 6/1 | 758075AF2 |  | 2511725 | 2500000 | PRN |  | SOLE |  | 2500000 | 0 | 0 |
| RICE ACQUISITION CORP 3 | *W EXP 99/99/999 | G7553X114 |  | 20000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| RICE ACQUISITION CORP 3 | ORD SHS CL A | G7553X106 |  | 1533595 | 149619 | SH |  | SOLE |  | 149619 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 5164020 | 262000 | SH | Put | SOLE |  | 262000 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | NOTE 3.625%10/1 | 76954AAD5 |  | 38171023 | 34000000 | PRN |  | SOLE |  | 34000000 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 697600 | 10000 | SH | Put | SOLE |  | 10000 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 579008 | 8300 | SH |  | SOLE |  | 8300 | 0 | 0 |
| SAFEGUARD ACQUISITION CORP | UNIT 99/99/9999 | G77676123 |  | 2017000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 55712374 | 234697 | SH |  | SOLE |  | 234697 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 13982781 | 255300 | SH | Put | SOLE |  | 255300 | 0 | 0 |
| SHARPS TECHNOLOGY INC | COM | 82003F309 |  | 1448289 | 769231 | SH |  | SOLE |  | 769231 | 0 | 0 |
| SIDDHI ACQUISITION CORP | CL A SHS | G8118C124 |  | 3084000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| SIDDHI ACQUISITION CORP | RIGHT 09/15/2029 | G8118C116 |  | 75000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| SILVERBOX CORP V | UNIT 99/99/9999 | G8148S123 |  | 3521000 | 350000 | SH |  | SOLE |  | 350000 | 0 | 0 |
| SILVERCORP METALS INC | NOTE 4.750%12/1 | 82835PAB9 |  | 13291898 | 6500000 | PRN |  | SOLE |  | 6500000 | 0 | 0 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 5700576 | 285100 | SH | Call | SOLE |  | 285100 | 0 | 0 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 33691655 | 1685004 | SH |  | SOLE |  | 1685004 | 0 | 0 |
| SIX FLAGS ENTERTAINMENT CORP | COM | 83001C108 |  | 613600 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 221544 | 10200 | SH | Put | SOLE |  | 10200 | 0 | 0 |
| SL GREEN RLTY CORP | COM | 78440X887 |  | 1471234 | 32074 | SH |  | SOLE |  | 32074 | 0 | 0 |
| SLR INVESTMENT CORP | COM | 83413U100 |  | 844116 | 54600 | SH | Put | SOLE |  | 54600 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 1963500 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| SOLARIUS CAPITAL ACQU CORP | *W EXP 07/10/203 | G82617112 |  | 42015 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| SOLARIUS CAPITAL ACQU CORP | SHS CL A | G82617104 |  | 3015000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 30746863 | 388022 | SH |  | SOLE |  | 388022 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 2152050 | 15000 | SH | Put | SOLE |  | 15000 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 826600 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 193755959 | 488900 | SH | Put | SOLE |  | 488900 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 573767488 | 841400 | SH | Call | SOLE |  | 841400 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 287088320 | 421000 | SH | Put | SOLE |  | 421000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 979919 | 1437 | SH |  | SOLE |  | 1437 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 8446203 | 105288 | SH |  | SOLE |  | 105288 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 18537900 | 122000 | SH | Put | SOLE |  | 122000 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 7835150 | 51564 | SH |  | SOLE |  | 51564 | 0 | 0 |
| STRATEGY INC | NOTE 0.625% 3/1 | 594972AJ0 |  | 12847357 | 10107000 | PRN |  | SOLE |  | 10107000 | 0 | 0 |
| STRATEGY INC | NOTE 12/0 | 594972AS0 |  | 38960186 | 47396000 | PRN |  | SOLE |  | 47396000 | 0 | 0 |
| SYNOVUS FINL CORP | COM NEW | 87161C501 |  | 189497714 | 3792518 | SH |  | SOLE |  | 3792518 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 102988321 | 338900 | SH | Put | SOLE |  | 338900 | 0 | 0 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 23477079 | 192372 | SH |  | SOLE |  | 192372 | 0 | 0 |
| TERRESTRIAL ENERGY INC | COM SHS | 881454102 |  | 305500 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| TERRESTRIAL ENERGY INC | COM SHS | 881454102 |  | 3055000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 50503556 | 112300 | SH | Put | SOLE |  | 112300 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 1069926 | 31900 | SH | Call | SOLE |  | 31900 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 1069926 | 31900 | SH | Put | SOLE |  | 31900 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 2562456 | 76400 | SH |  | SOLE |  | 76400 | 0 | 0 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 8888076 | 123600 | SH | Put | SOLE |  | 123600 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 3375008 | 231800 | SH | Call | SOLE |  | 231800 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 6074432 | 417200 | SH | Put | SOLE |  | 417200 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 6073850 | 417160 | SH |  | SOLE |  | 417160 | 0 | 0 |
| TRUMP MEDIA  TECHNOLOGY GRO | COM | 25400Q105 |  | 802344 | 60600 | SH | Call | SOLE |  | 60600 | 0 | 0 |
| TWO HARBORS INVENTMENT CORPO | NOTE 6.250% 1/1 | 90187BAB7 |  | 62177875 | 62077000 | PRN |  | SOLE |  | 62077000 | 0 | 0 |
| TXNM ENERGY INC | COM | 69349H107 |  | 99933727 | 1697244 | SH |  | SOLE |  | 1697244 | 0 | 0 |
| TXNM ENERGY INC | NOTE 5.750% 6/0 | 69349HAF4 |  | 30259301 | 22500000 | PRN |  | SOLE |  | 22500000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 5229440 | 64000 | SH | Call | SOLE |  | 64000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 5229440 | 64000 | SH | Put | SOLE |  | 64000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 22613569 | 276754 | SH |  | SOLE |  | 276754 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 212458 | 1900 | SH | Put | SOLE |  | 1900 | 0 | 0 |
| VANECK ETHEREUM TR | SHS | 92189L103 |  | 3128896 | 72028 | SH |  | SOLE |  | 72028 | 0 | 0 |
| VERTEX INC | NOTE 0.750% 5/0 | 92538JAB2 |  | 21350559 | 22500000 | PRN |  | SOLE |  | 22500000 | 0 | 0 |
| VOLATILITY SHS TR | SOLANA ETF | 92864M822 |  | 1911000 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| VOYAGER TECHNOLOGIES INC | COM CL A | 92892B103 |  | 300610 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 24548876 | 851800 | SH | Call | SOLE |  | 851800 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 31324458 | 1086900 | SH | Put | SOLE |  | 1086900 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 257194579 | 8924170 | SH |  | SOLE |  | 8924170 | 0 | 0 |
| WAYFAIR INC | NOTE 3.250% 9/1 | 94419LAP6 |  | 7315878 | 4375000 | PRN |  | SOLE |  | 4375000 | 0 | 0 |
| WAYFAIR INC | NOTE 3.500%11/1 | 94419LAR2 |  | 56886736 | 24805000 | PRN |  | SOLE |  | 24805000 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 4952246 | 28747 | SH |  | SOLE |  | 28747 | 0 | 0 |
| WOLFSPEED INC | COMMON STOCK | 97785W106 |  | 281154 | 16149 | SH |  | SOLE |  | 16149 | 0 | 0 |

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