The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADVANCED MICRO DEVICES INC COM 007903107   5,032,760 23,500 SH   DFND 1 23,500 0 0
AFFIRM HLDGS INC COM CL A 00827B106   8,187,449 110,002 SH   DFND 1 110,002 0 0
ALIBABA GROUP HLDG LTD CALL 01609W102   58,632,000 400,000 SH Put DFND 1 0 0 0
ALIBABA GROUP HLDG LTD NOTE 0.500% 6/0 01609WBG6   42,017,768 27,000,000 PRN   DFND 1 27,000,000 0 0
ALT5 SIGMA CORP COM 47089W104   66,000 60,000 SH   DFND 1 60,000 0 0
AMAZON COM INC COM 023135106   5,539,680 24,000 SH   DFND 1 24,000 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210   2,139,720 2,000 SH   DFND 1 2,000 0 0
BITDEER TECHNOLOGIES GROUP CL A ORD SHS G11448100   34,678,135 3,093,500 SH Call DFND 1 0 0 0
BITDEER TECHNOLOGIES GROUP CL A ORD SHS G11448100   279,006 24,889 SH   DFND 1 24,889 0 0
BROADCOM INC COM 11135F101   9,690,800 28,000 SH   DFND 1 28,000 0 0
CENTURI HOLDINGS INC COM SHS 155923105   7,575,000 300,000 SH Call DFND 1 0 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108   51,248,125 245,500 SH Put DFND 1 0 0 0
CHURCHILL DOWNS INC COM 171484108   3,640,960 32,000 SH   DFND 1 32,000 0 0
CIENA CORP COM NEW 171779309   935,480 4,000 SH   DFND 1 4,000 0 0
CNFINANCE HLDGS LTD SPONSORED ADS 18979T204   1,847,289 305,337 SH   DFND 1 305,337 0 0
COHERENT CORP COM 19247G107   922,850 5,000 SH   DFND 1 5,000 0 0
COINBASE GLOBAL INC NOTE 0.250% 4/0 19260QAF4   14,061,790 13,684,000 PRN   DFND 1 13,684,000 0 0
CORE SCIENTIFIC INC NEW COM 21874A106   2,693,600 185,000 SH   DFND 1 185,000 0 0
COREWEAVE INC COM CL A 21873S108   2,685,375 37,500 SH   DFND 1 37,500 0 0
DRAFTKINGS INC NEW COM CL A 26142V105   4,824,400 140,000 SH   DFND 1 140,000 0 0
DUTCH BROS INC CL A 26701L100   918,300 15,000 SH   DFND 1 15,000 0 0
ECHOSTAR CORP NOTE 3.875%11/3 278768AB2   26,937,923 8,030,000 PRN   DFND 1 8,030,000 0 0
ELAUWIT CONNECTION INC COM 28417M109   172,111 33,947 SH   DFND 1 33,947 0 0
FLUTTER ENTMT PLC SHS G3643J108   752,640 3,500 SH   DFND 1 3,500 0 0
GOODYEAR TIRE & RUBR CO CALL 382550101   12,264,000 1,400,000 SH Call DFND 1 0 0 0
GUESS INC NOTE 3.750% 4/1 401617AF2   7,639,252 7,623,000 PRN   DFND 1 7,623,000 0 0
HASBRO INC COM 418056107   5,166,000 63,000 SH   DFND 1 63,000 0 0
IMPINJ INC COM 453204109   2,088,120 12,000 SH   DFND 1 12,000 0 0
INTEL CORP COM 458140100   8,671,500 235,000 SH   DFND 1 235,000 0 0
INVESCO QQQ TR UNIT SER 1 46090E103   12,839,079 20,900 SH Call DFND 1 0 0 0
ISHARES TR 20 YR TR BD ETF 464287432   13,074,000 150,000 SH Call DFND 1 0 0 0
LAM RESEARCH CORP COM NEW 512807306   1,882,980 11,000 SH   DFND 1 11,000 0 0
LAS VEGAS SANDS CORP COM 517834107   2,329,962 35,796 SH   DFND 1 35,796 0 0
LIBERTY MEDIA CORP DEL DEB 4.000%11/1 530715AG6   740,953 10,000,000 PRN   DFND 1 10,000,000 0 0
LUCID GROUP INC COM NEW 549498202   607,775 57,500 SH   DFND 1 57,500 0 0
LUMENTUM HLDGS INC NOTE 1.500%12/1 55024UAH2   10,640,028 2,000,000 PRN   DFND 1 2,000,000 0 0
META PLATFORMS INC CL A 30303M102   3,960,540 6,000 SH   DFND 1 6,000 0 0
NEBIUS GROUP N.V. SHS CLASS A N97284108   1,130,018 13,500 SH   DFND 1 13,500 0 0
NEWELL BRANDS INC CALL 651229106   14,147,160 3,803,000 SH Call DFND 1 0 0 0
NIO INC NOTE 4.625%10/1 62914VAK2   39,449,906 42,960,000 PRN   DFND 1 42,960,000 0 0
NVIDIA CORPORATION COM 67066G104   9,884,500 53,000 SH   DFND 1 53,000 0 0
OPTIMUM COMMUNICATIONS INC CL A 02156K103   3,874,071 2,347,922 SH   DFND 1 2,347,922 0 0
PRIMO BRANDS CORPORATION CLASS A COM SHS 741623102   735,750 45,000 SH   DFND 1 45,000 0 0
RED ROCK RESORTS INC CL A 75700L108   4,522,350 73,000 SH   DFND 1 73,000 0 0
ROKU INC COM CL A 77543R102   1,844,330 17,000 SH   DFND 1 17,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   32,391,200 47,500 SH Put DFND 1 0 0 0
STMICROELECTRONICS N V NY REGISTRY 861012102   1,089,480 42,000 SH   DFND 1 42,000 0 0
SYNOPSYS INC COM 871607107   2,818,320 6,000 SH   DFND 1 6,000 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109   5,888,690 23,000 SH   DFND 1 23,000 0 0
TERADYNE INC COM 880770102   580,680 3,000 SH   DFND 1 3,000 0 0
TRAVEL PLUS LEISURE CO COM 894164102   916,890 13,000 SH   DFND 1 13,000 0 0
TRIP COM GROUP LTD NOTE 0.750% 6/1 89677QAB3   26,512,134 21,500,000 PRN   DFND 1 21,500,000 0 0
V F CORP COM 918204108   7,729,200 427,500 SH Call DFND 1 0 0 0
VAIL RESORTS INC COM 91879Q109   2,656,000 20,000 SH   DFND 1 20,000 0 0
VIASAT INC COM 92552V100   13,784,000 400,000 SH Call DFND 1 0 0 0
VIASAT INC COM 92552V100   5,791,003 168,050 SH   DFND 1 168,050 0 0
WALMART INC COM 931142103   3,676,860 33,000 SH   DFND 1 33,000 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105   2,531,260 33,500 SH   DFND 1 33,500 0 0