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
ACADIAN ASSET MANAGEMENT INC COM 10948W103   17,923,173 329,349 SH   SOLE   329,349 0 0
ACCELERANT HOLDINGS CL A G00894108   26,455,619 1,980,211 SH   SOLE   1,980,211 0 0
APOLLO COML REAL ESTATE FIN COM 03762U105   7,480,018 708,335 SH   SOLE   708,335 0 0
BEACON FINANCIAL CORP. COM 084680107   94,138,230 3,137,941 SH   SOLE   3,137,941 0 0
BITDEER TECHNOLOGIES GROUP CL A ORD SHS G11448100   28,957,320 3,347,667 SH   SOLE   3,347,667 0 0
BITFARMS LTD COM 09173B107   19,879,187 10,194,455 SH   SOLE   10,194,455 0 0
BLOCK INC CL A 852234103   41,839,964 695,247 SH   SOLE   695,247 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105   11,354,452 2,703,441 SH   SOLE   2,703,441 0 0
CENTRAL BANCOMPANY COM CL A 152413100   13,970,897 583,336 SH   SOLE   583,336 0 0
CIPHER DIGITAL INC COM 17253J106   3,340,756 259,577 SH   SOLE   259,577 0 0
COASTAL FINL CORP WA COM NEW 19046P209   50,120,754 658,617 SH   SOLE   658,617 0 0
DAVE INC CLASS A COM NEW 23834J201   2,202,064 12,649 SH   SOLE   12,649 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   7,721,102 500,720 SH   SOLE   500,720 0 0
EAST WEST BANCORP INC COM 27579R104   33,303,675 311,949 SH   SOLE   311,949 0 0
FEDERATED HERMES INC CL B 314211103   3,056,499 53,897 SH   SOLE   53,897 0 0
FIRSTCASH HOLDINGS INC COM 33768G107   18,235,436 96,997 SH   SOLE   96,997 0 0
FRANKLIN RESOURCES INC COM 354613101   120,460,795 5,099,949 SH   SOLE   5,099,949 0 0
GLOBAL E ONLINE LTD SHS M5216V106   656,272 21,273 SH   SOLE   21,273 0 0
HOME BANCSHARES INC COM 436893200   27,720,180 1,029,342 SH   SOLE   1,029,342 0 0
HUT 8 CORP COM 44812J104   35,866,119 764,573 SH   SOLE   764,573 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   14,179,805 211,418 SH   SOLE   211,418 0 0
INTERNATIONAL BANCSHARES COR COM 459044103   88,329,833 1,312,674 SH   SOLE   1,312,674 0 0
ISHARES TR RUSSELL 2000 ETF 464287655   17,211,448 69,401 SH   SOLE   69,401 0 0
KLARNA GROUP PLC SHS G5279N105   20,221,471 1,544,803 SH   SOLE   1,544,803 0 0
LPL FINL HLDGS INC COM 50212V100   128,556,091 427,338 SH   SOLE   427,338 0 0
M & T BK CORP COM 55261F104   14,916,371 74,276 SH   SOLE   74,276 0 0
NEPTUNE INS HLDGS INC CL A 64073B103   23,077,962 954,029 SH   SOLE   954,029 0 0
NU HLDGS LTD ORD SHS CL A G6683N103   9,643,894 671,113 SH   SOLE   671,113 0 0
ONEMAIN HLDGS INC COM 68268W103   15,547,671 290,665 SH   SOLE   290,665 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107   9,603,337 109,878 SH   SOLE   109,878 0 0
PINNACLE FINL PARTNERS INC COM 72348N109   12,838,478 149,042 SH   SOLE   149,042 0 0
PROG HOLDINGS INC COM NPV 74319R101   27,731,065 966,576 SH   SOLE   966,576 0 0
PROSPERITY BANCSHARES INC COM 743606105   62,883,369 936,043 SH   SOLE   936,043 0 0
RIOT PLATFORMS INC COM 767292105   46,136,382 3,732,717 SH   SOLE   3,732,717 0 0
SCHWAB CHARLES CORP COM 808513105   55,405,627 589,547 SH   SOLE   589,547 0 0
SLM CORP COM 78442P106   68,636,349 3,205,808 SH   SOLE   3,205,808 0 0
SOLUNA HOLDINGS INC COM NEW 583543301   16,917 23,934 SH   SOLE   23,934 0 0
SOUTHSTATE BK CORP COM 84472E102   10,957,884 118,438 SH   SOLE   118,438 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103   1,486,677 2,286 SH   SOLE   2,286 0 0
TERAWULF INC COM 88080T104   3,240,069 224,537 SH   SOLE   224,537 0 0
TEXAS CAP BANCSHARES INC COM 88224Q107   37,952,000 400,000 SH   SOLE   400,000 0 0
VALLEY NATL BANCORP COM 919794107   109,888,796 8,948,599 SH   SOLE   8,948,599 0 0
VIRTU FINL INC CL A 928254101   82,725,940 1,880,990 SH   SOLE   1,880,990 0 0
WEALTHFRONT CORP COM 947002101   7,502,268 811,056 SH   SOLE   811,056 0 0
WISDOMTREE INC COM 97717P104   87,179,529 5,987,605 SH   SOLE   5,987,605 0 0