| Issuer | CUSIP | Ticker | Action | % AUM | Value | Prior Shares | Curr Shares | Δ Shares |
|---|
| TRIPLE FLAG PRECIOUS METAL | 89679M104 | TFPM | REDUCED | 17.61% | $3.99B | 133,248,215 | 133,241,535 | -0.0% |
| PHILLIPS 66 | 718546104 | PSX | HELD | 14.36% | $3.25B | 19,251,000 | 19,251,000 | +0.0% |
| INVESCO QQQ TR (Put) | 46090E103 | QQQ | ADDED | 11.30% | $2.56B | 400,000 | 3,480,000 | +770.0% |
| SUNCOR ENERGY INC NEW | 867224107 | SU | REDUCED | 6.97% | $1.58B | 52,670,800 | 29,454,000 | -44.1% |
| HEWLETT PACKARD ENTERPRISE C | 42824C109 | HPE | ADDED | 6.42% | $1.46B | 27,421,735 | 32,271,985 | +17.7% |
| ISHARES TR (Put) | 464287515 | IGV | NEW | 6.29% | $1.43B | — | 15,750,000 | NEW |
| SOUTHWEST AIRLS CO | 844741108 | LUV | REDUCED | 5.51% | $1.25B | 30,346,000 | 24,308,000 | -19.9% |
| SELECT SECTOR SPDR TR (Put) | 81369Y704 | XLI | REDUCED | 4.23% | $958.57M | 7,500,000 | 5,175,000 | -31.0% |
| SELECT SECTOR SPDR TR (Put) | 81369Y407 | XLY | ADDED | 3.67% | $832.69M | 4,300,000 | 7,100,000 | +65.1% |
| SELECT SECTOR SPDR TR (Put) | 81369Y308 | XLP | ADDED | 3.53% | $799.55M | 9,140,000 | 9,625,000 | +5.3% |
| VANECK ETF TRUST (Put) | 92189F106 | GDX | ADDED | 3.05% | $690.37M | 1,650,000 | 9,150,000 | +454.5% |
| UNITI GROUP LLC | 912932100 | UNIT | HELD | 2.99% | $676.87M | 59,012,219 | 59,012,219 | +0.0% |
| ISHARES TR (Put) | 464288810 | IHI | NEW | 2.72% | $617.62M | — | 12,500,000 | NEW |
| PINTEREST INC | 72352L106 | PINS | HELD | 2.60% | $588.84M | 28,000,000 | 28,000,000 | +0.0% |
| ETSY INC | 29786A106 | ETSY | HELD | 1.66% | $376.65M | 5,000,000 | 5,000,000 | +0.0% |
| NORWEGIAN CRUISE LINE HLDGS | G66721104 | NCLH | ADDED | 1.37% | $310.02M | 13,186,000 | 14,686,000 | +11.4% |
| PEPSICO INC | 713448108 | PEP | HELD | 0.76% | $172.63M | 1,275,000 | 1,275,000 | +0.0% |
| SEADRILL LTD | G7997W102 | SDRL | REDUCED | 0.74% | $167.91M | 4,719,085 | 4,439,681 | -5.9% |
| VANECK ETF TRUST (Put) | 92189F676 | SMH | NEW | 0.72% | $163.97M | — | 250,000 | NEW |
| EQUINIX INC | 29444U700 | EQIX | HELD | 0.69% | $156.36M | 150,000 | 150,000 | +0.0% |
| SYNOPSYS INC | 871607107 | SNPS | NEW | 0.45% | $101.48M | — | 227,500 | NEW |
| OR ROYALTIES INC. | 68390D106 | OR | HELD | 0.43% | $98.40M | 3,111,000 | 3,111,000 | +0.0% |
| SPDR SERIES TRUST (Put) | 78464A755 | XME | HELD | 0.42% | $96.24M | 900,000 | 900,000 | +0.0% |
| INVESCO EXCHANGE TRADED FD T (Put) | 46137V357 | RSP | NEW | 0.37% | $84.04M | — | 395,000 | NEW |
| TRANSOCEAN LTD | H8817H100 | RIG | HELD | 0.34% | $76.42M | 15,626,834 | 15,626,834 | +0.0% |
| ISHARES TR (Put) | 464287655 | IWM | REDUCED | 0.33% | $75.11M | 500,000 | 250,000 | -50.0% |
| ISHARES TR (Call) | 464288810 | IHI | NEW | 0.31% | $69.17M | — | 1,400,000 | NEW |
| HDFC BANK LTD | 40415F101 | HDB | HELD | 0.09% | $20.59M | 797,085 | 797,085 | +0.0% |
| QUANTINUUM INC | 74768A104 | QNT | NEW | 0.05% | $12.26M | — | 150,000 | NEW |
| ISHARES TR (Put) | 464288513 | HYG | EXITED | — | $397.80M | 5,000,000 | — | -100.0% |
| DIGITAL RLTY TR INC (Put) | 253868103 | DLR | EXITED | — | $270.31M | 1,500,000 | — | -100.0% |
| ISHARES TR (Put) | 464287598 | IWD | EXITED | — | $213.67M | 1,000,000 | — | -100.0% |
| VANECK ETF TRUST (Call) | 92189F106 | GDX | EXITED | — | $183.54M | 2,000,000 | — | -100.0% |
| CROWN CASTLE INC | 22822V101 | CCI | EXITED | — | $99.60M | 1,225,000 | — | -100.0% |
| FORTIVE CORP (Put) | 34959J108 | FTV | EXITED | — | $41.46M | 750,000 | — | -100.0% |
| WAYFAIR INC | 94419LAR2 | W 3.5 11/15/28 | EXITED | — | $26.25M | 15,000,000 | — | -100.0% |
| EMERSON ELEC CO (Put) | 291011104 | EMR | EXITED | — | $26.20M | 200,000 | — | -100.0% |
| GCI LIBERTY INC | 36164V800 | GLIBK | EXITED | — | $24.56M | 659,928 | — | -100.0% |
| WHEATON PRECIOUS METALS CORP (Call) | 962879102 | WPM | EXITED | — | $13.10M | 100,000 | — | -100.0% |
| STRATEGY INC | 594972AJ0 | MSTR 0.625 03/15/30 | EXITED | — | $11.54M | 10,000,000 | — | -100.0% |