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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | STATE STR SPDR S&P 500 ETF TPUT | $6.31B | 9696400 | 16.35% |
| 2 | INVESCO QQQ TRPUT | $2.43B | 4205300 | 6.29% |
| 3 | INVESCO QQQ TRCALL | $1.87B | 3233200 | 4.84% |
| 4 | STATE STR SPDR S&P 500 ETF TCALL | $1.67B | 2570400 | 4.34% |
| 5 | ISHARES TRPUT | $1.06B | 4259300 | 2.74% |
| 6 | SELECT SECTOR SPDR TRCALL | $838.7M | 16036900 | 2.18% |
| 7 | SELECT SECTOR SPDR TRPUT | $740.5M | 14158500 | 1.92% |
| 8 | ISHARES TRCALL | $728.3M | 2936700 | 1.89% |
| 9 | NVIDIA CORPORATIONPUT | $447.7M | 2566900 | 1.16% |
| 10 | VANECK ETF TRUSTCALL | $417.3M | 1088500 | 1.08% |
| 11 | ISHARES TRPUT | $410.7M | 5162300 | 1.07% |
| 12 | META PLATFORMS INCPUT | $364.8M | 637700 | 0.95% |
| 13 | NVIDIA CORPORATIONCALL | $359.3M | 2060400 | 0.93% |
| 14 | SPDR GOLD TRCALL | $351.0M | 815700 | 0.91% |
| 15 | SELECT SECTOR SPDR TRPUT | $340.8M | 6099600 | 0.88% |
| 16 | TESLA INCPUT | $321.9M | 833000 | 0.83% |
| 17 | APPLE INCPUT | $321.8M | 1267800 | 0.83% |
| 18 | SPDR GOLD TRPUT | $313.6M | 728700 | 0.81% |
| 19 | AMAZON COM INCCALL | $278.1M | 1113000 | 0.72% |
| 20 | VANECK ETF TRUSTPUT | $257.5M | 671600 | 0.67% |
| 21 | ISHARES BITCOIN TRUST ETFCALL | $256.8M | 6040600 | 0.67% |
| 22 | META PLATFORMS INCCALL | $219.6M | 383900 | 0.57% |
| 23 | AMAZON COM INCPUT | $215.8M | 863500 | 0.56% |
| 24 | ISHARES TRPUT | $215.6M | 2219800 | 0.56% |
| 25 | ALPHABET INCPUT | $194.8M | 677400 | 0.51% |
| 26 | STRATEGY INCPUT | $184.1M | 1122800 | 0.48% |
| 27 | NEXTERA ENERGY INC | $182.2M | 2010521 | 0.47% |
| 28 | ADVANCED MICRO DEVICES INCPUT | $180.3M | 886200 | 0.47% |
| 29 | CITIGROUP INCPUT | $180.0M | 1366700 | 0.47% |
| 30 | COREWEAVE INCPUT | $179.3M | 1556600 | 0.46% |
| 31 | ISHARES SILVER TRCALL | $175.9M | 2581200 | 0.46% |
| 32 | SELECT SECTOR SPDR TRPUT | $163.2M | 951800 | 0.42% |
| 33 | BOEING COPUT | $162.3M | 740700 | 0.42% |
| 34 | ISHARES TRPUT | $159.9M | 2815500 | 0.41% |
| 35 | VANECK ETF TRUSTPUT | $157.1M | 1689000 | 0.41% |
| 36 | BANK AMERICA CORPPUT | $155.4M | 2905000 | 0.40% |
| 37 | CHEVRON CORPORATIONPUT | $147.6M | 793500 | 0.38% |
| 38 | TESLA INCCALL | $147.4M | 381400 | 0.38% |
| 39 | VISA INCCALL | $142.2M | 458700 | 0.37% |
| 40 | MICRON TECHNOLOGY INCPUT | $142.1M | 420600 | 0.37% |
| 41 | ISHARES BITCOIN TRUST ETFPUT | $140.2M | 3297600 | 0.36% |
| 42 | JPMORGAN CHASE & COPUT | $136.1M | 434900 | 0.35% |
| 43 | NETFLIX INC.CALL | $136.1M | 1470000 | 0.35% |
| 44 | ORACLE CORPPUT | $129.8M | 882100 | 0.34% |
| 45 | ORACLE CORPCALL | $128.5M | 873600 | 0.33% |
| 46 | ISHARES SILVER TRPUT | $127.6M | 1872700 | 0.33% |
| 47 | MICROSOFT CORPCALL | $124.5M | 336400 | 0.32% |
| 48 | AMERICAN AIRLINES GROUP INCPUT | $124.0M | 10531800 | 0.32% |
| 49 | ALIBABA GROUP HLDG LTDPUT | $122.0M | 972700 | 0.32% |
| 50 | BROADCOM INCPUT | $121.9M | 393800 | 0.32% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.