ICM

Ionic Capital Management Portfolio holdings

AUM $87.9M

AUM

$87.9M

AUM Growth

-$13.6M (-13%)

Cap. Flow

+$4.35M

Cap. Flow % of AUM

4.95%

Top 10 Holdings %Top 10 Hldgs %

45.08%

Holding

137

New

Increased

Reduced

Closed

Top Buys

1	STRK MicroStrategy Incorporated 8.00% Series A Perpetual Strike Preferred Stock STRK	$3.17M
2	PENN Entertainment PENN	$1.38M
3	RH RH	$1.03M
4	KKR.PRD KKR & Co. Inc. 6.25% Series D Mandatory Convertible Preferred Stock KKR.PRD	$988K
5	Flowserve FLS	$781K

Top Sells

1	Dun & Bradstreet DNB	$2.73M
2	Alight ALIT	$1.56M
3	NCZ Virtus Convertible & Income Fund II NCZ	$1.34M
4	Flex FLEX	$1.22M
5	NCV Virtus Convertible & Income Fund NCV	$1.09M

Sector Composition

1	Technology	16.5%
2	Industrials	14.95%
3	Consumer Discretionary	9.71%
4	Communication Services	4.97%
5	Materials	3.96%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
76	76 Algoma Steel Group Warrant ASTLW $47.2M	$37.3K	0%	100,000	–	–
77	77 BigBear.ai Holdings, Inc. Redeemable warrants, each full warrant exercisable for one share of common stock at an exercise price of $11.50 per share BBAI.WS $306M	$33.2K	0%	40,450	New	+$33.2K
78	MSTX 78 Tidal Trust II Defiance Daily Target 2x Long MSTR ETF MSTX $1.75B	$25.8K	0%	1,000	New	+$25.8K
79	79 Lanvin Group Holdings Limited Redeemable Warrants, each whole warrant exercisable for one Ordinary Share at an exercise price of $11.50 LANV.WS $2.35M	$14.8K	0%	747,561	–	–
80	80 Borealis Foods Inc. Warrant BRLSW $2.51M	$7.7K	0%	70,000	New	+$7.7K
81	81 LiveWire Group, Inc. Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share LVWR.WS $3.16M	$5.65K	0%	266,430	–	–
82	82 Holley Inc. Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 HLLY.WS	$4.2K	0%	84,067	New	+$4.2K
83	MSSAW 83 DELISTED Metal Sky Star Acquisition Corporation Warrant MSSAW	$1.34K	0%	108,948	–	–
84	84 Archer Aviation Redeemable Warrants ACHR.WS $1.77B	$0	0%	0 -69,000	Closed	–
85	85 Ally Financial ALLY $11B	$0	0%	0 -15,500	Closed	–
86	86 AST SpaceMobile ASTS $5.98B	$0	0%	0 -4,302	Closed	–
87	87 Aurora AUR $11.1B	$0	0%	0	–	–
88	88 Broadcom AVGO $1.09T	$0	0%	0	–	–
89	89 American Axle AXL $541M	$0	0%	0 -32,853	Closed	–
90	90 BlackRock Resources & Commodities Strategy Trust BCX $731M	$0	0%	0 -57,139	Closed	–
91	91 Baidu BIDU $30.7B	$0	0%	0	–	–
92	92 CAVA Group CAVA $10.3B	$0	0%	0	–	–
93	93 Salesforce CRM $276B	$0	0%	0	–	–
94	94 Datadog DDOG $40.2B	$0	0%	0 -7,500	Closed	–
95	95 iShares MSCI Emerging Markets ETF EEM $17.4B	$0	0%	0	–	–
96	96 Elanco Animal Health ELAN $6.5B	$0	0%	0 -126,391	Closed	–
97	97 EVgo EVGO $499M	$0	0%	0 -95,849	Closed	–
98	98 iShares China Large-Cap ETF FXI $6.15B	$0	0%	0	–	–
99	GRRR 99 Gorilla Technology Group GRRR $321M	$0	0%	0	–	–
100	HSAI 100 Hesai Group HSAI $2.59B	$0	0%	0	–	–