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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
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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
BILL HOLDINGS INC NOTE 4/0 090043AD2   687,131 752,000 PRN   SOLE N/A 752,000 0 0
CHIME FINL INC COM SHS CL A 16935C109   379,610 11,000 SH   SOLE N/A 11,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106   479,700 410,000 SH   SOLE N/A 410,000 0 0
COMPASS PATHWAYS PLC SPONSORED ADS 20451W101   56,000 20,000 SH   SOLE N/A 20,000 0 0
CYBIN INC COM NEW 23256X407   263,622 31,421 SH   SOLE N/A 31,421 0 0
ETSY INC NOTE 0.250% 6/1 29786AAN6   6,025,250 7,000,000 PRN   SOLE N/A 7,000,000 0 0
FUTU HLDGS LTD SPON ADS CL A 36118L106   432,565 3,500 SH   SOLE N/A 3,500 0 0
GRAFTECH INTL LTD COM 384313508   447,396 460,000 SH   SOLE N/A 460,000 0 0
GRIFOLS S A SP ADR REP B NVT 398438408   271,200 30,000 SH   SOLE N/A 30,000 0 0
GUARDANT HEALTH INC NOTE 11/1 40131MAB5   2,728,166 3,000,000 PRN   SOLE N/A 3,000,000 0 0
ISHARES BITCOIN TRUST ETF SHS BEN INT 46438F101   17,750,900 290,000 SH Call SOLE N/A 290,000 0 0
ISHARES GOLD TR ISHARES NEW 464285204   12,970,880 208,000 SH   SOLE N/A 208,000 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   1,009,750 35,000 SH   SOLE N/A 35,000 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   2,019,500 70,000 SH Call SOLE N/A 70,000 0 0
ISHARES SILVER TR ISHARES 46428Q109   85,141,950 2,595,000 SH Call SOLE N/A 2,595,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513   8,065,000 100,000 SH Put SOLE N/A 100,000 0 0
KRANESHARES TRUST CSI CHI INTERNET 500767306   2,403,100 70,000 SH   SOLE N/A 70,000 0 0
LITHIUM ARGENTINA AG NOTE 1.750% 1/1 53680QAA6   3,317,020 4,060,000 PRN   SOLE N/A 4,060,000 0 0
MIND MEDICINE MINDMED INC COM NEW 60255C885   227,150 35,000 SH   SOLE N/A 35,000 0 0
MIND MEDICINE MINDMED INC COM NEW 60255C885   356,950 55,000 SH Call SOLE N/A 55,000 0 0
NOVAGOLD RES INC COM NEW 66987E206   858,900 210,000 SH   SOLE N/A 210,000 0 0
OIL STS INTL INC NOTE 4.750% 4/0 678026AK1   2,991,000 3,000,000 PRN   SOLE N/A 3,000,000 0 0
OSCAR HEALTH INC CL A 687793109   2,036,800 95,000 SH Call SOLE N/A 95,000 0 0
OSISKO DEVELOPMENT CORP *W EXP 05/27/202 68828E239   8,400 15,000 SH   SOLE N/A 15,000 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   32,100 15,000 SH   SOLE N/A 15,000 0 0
PAMPA ENERGIA S A SPONS ADR LVL I 697660207   208,140 3,000 SH   SOLE N/A 3,000 0 0
PERPETUA RESOURCES CORP COM 714266103   509,880 42,000 SH   SOLE N/A 42,000 0 0
PERRIGO CO PLC SHS G97822103   1,108,880 41,500 SH   SOLE N/A 41,500 0 0
PRECIGEN INC COM 74017N105   485,372 341,811 SH   SOLE N/A 341,811 0 0
QIFU TECHNOLOGY INC AMERICAN DEP 88557W101   303,520 7,000 SH   SOLE N/A 7,000 0 0
RAPID7 INC NOTE 1.250% 3/1 753422AH7   2,662,500 3,000,000 PRN   SOLE N/A 3,000,000 0 0
SPDR GOLD TR GOLD SHS 78463V107   45,724,500 150,000 SH Put SOLE N/A 150,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   61,785,000 100,000 SH Put SOLE N/A 100,000 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101   3,311,000 110,000 SH   SOLE N/A 110,000 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   7,548,700 145,000 SH Put SOLE N/A 145,000 0 0
VIZSLA SILVER CORP COM NEW 92859G608   514,500 175,000 SH   SOLE N/A 175,000 0 0
WARNER BROS DISCOVERY INC COM SER A 934423104   573,000 50,000 SH   SOLE N/A 50,000 0 0
ZTO EXPRESS CAYMAN INC NOTE 1.500% 9/0 98980AAB1   4,983,750 5,000,000 PRN   SOLE N/A 5,000,000 0 0