Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	100,000	$43.03M	3.8%	$171.01	—	CALL	78463V107
IWM	ISHARES TR	75,000	$18.6M	1.6%	$248.00	—	RUSSELL 2000 ETF	464287655
PAYX	PAYCHEX INC	200,000	$18.42M	1.6%	—	—	PUT	704326107
TLT	ISHARES TR	200,000	$17.34M	1.5%	$94.53	—	CALL	464287432
DAL	DELTA AIR LINES INC	230,000	$15.29M	1.3%	—	—	PUT	247361702
LYV	LIVE NATION ENTERTAINMENT IN	100,000	$15.25M	1.3%	—	—	PUT	538034109
WMT	WALMART INC	120,000	$14.91M	1.3%	$45.35	+169.1%	PUT	931142103
INTU	INTUIT	32,700	$14.14M	1.2%	$497.56	0.0%	COM	461202103
INTU	INTUIT	25,500	$11.03M	1.0%	$497.56	0.0%	CALL	461202103
INTU	INTUIT	20,000	$8.648M	0.8%	$497.56	0.0%	PUT	461202103
TXN	TEXAS INSTRS INC	40,000	$7.766M	0.7%	$206.27	0.0%	COM	882508104
GDX	VANECK ETF TRUST	70,000	$6.424M	0.6%	$60.51	—	CALL	92189F106
ASTS	AST SPACEMOBILE INC	50,000	$4.144M	0.4%	$98.13	0.0%	COM CL A	00217D100
LUV	SOUTHWEST AIRLS CO	93,200	$3.502M	0.3%	$31.41	+50.7%	CALL	844741108
HOOD	ROBINHOOD MKTS INC	33,379	$2.313M	0.2%	$95.75	0.0%	COM CL A	770700102
TEM	TEMPUS AI INC	30,000	$1.357M	0.1%	$61.24	0.0%	CL A	88023B103
QQQ	INVESCO QQQ TR	2,280	$1.316M	0.1%	$577.18	—	UNIT SER 1	46090E103

Increased Positions (17)

GDX VANECK ETF TRUST 4.8%

Value $54.27M (+50.0%) Shares 591,367 (+40.1%) Est. Cost $60.51 Unrealized —

TLT ISHARES TR 4.7%

Value $53.08M (+28.6%) Shares 612,300 (+29.3%) Est. Cost $94.53 Unrealized —

ASTS AST SPACEMOBILE INC 0.8%

Value $9.53M (+337.4%) Shares 115,000 (+283.3%) Est. Cost $98.13 Unrealized 0.0%

COP CONOCOPHILLIPS 1.8%

Value $20.95M (+49.2%) Shares 158,700 (+5.8%) Est. Cost $79.02 Unrealized +29.9%

GDX VANECK ETF TRUST 1.9%

Value $21.11M (+23.0%) Shares 230,000 (+15.0%) Est. Cost $60.51 Unrealized —

LH LABCORP HOLDINGS INC 2.7%

Value $30.3M (+15.0%) Shares 113,546 (+8.1%) Est. Cost $242.65 Unrealized +11.7%

BRK/B BERKSHIRE HATHAWAY INC DEL 2.1%

Value $23.96M (+19.2%) Shares 50,000 (+25.0%) Est. Cost $498.49 Unrealized -1.0%

XBI SPDR SERIES TRUST 1.7%

Value $19.16M (+20.9%) Shares 150,000 (+15.4%) Est. Cost $98.68 Unrealized —

CELH CELSIUS HLDGS INC 0.3%

Value $3.548M (+287.8%) Shares 100,000 (+400.0%) Est. Cost $34.96 Unrealized +45.0%

COST COSTCO WHOLESALE CORPORATION 0.7%

Value $7.541M (+39.1%) Shares 7,568 (+20.4%) Est. Cost $341.63 Unrealized +182.1%

WMT WALMART INC 1.4%

Value $15.3M (+13.5%) Shares 123,077 (+1.7%) Est. Cost $45.35 Unrealized +169.1%

AMZN AMAZON COM INC 2.8%

Value $31.62M (-4.5%) Shares 151,831 (+5.8%) Est. Cost $147.30 Unrealized +54.0%

CROX CROCS INC 1.1%

Value $12.45M (+12.9%) Shares 150,000 (+16.3%) Est. Cost $100.51 Unrealized -12.3%

TJX TJX COS INC NEW 1.7%

Value $19.55M (+7.5%) Shares 122,444 (+3.4%) Est. Cost $36.65 Unrealized +320.8%

KNX KNIGHT-SWIFT TRANSN HLDGS IN 1.0%

Value $11.87M (+12.4%) Shares 206,143 (+2.1%) Est. Cost $36.52 Unrealized +58.4%

LAMR LAMAR ADVERTISING CO 1.1%

Value $12.88M (+1.8%) Shares 101,700 (+1.7%) Est. Cost $91.52 Unrealized —

RHP RYMAN HOSPITALITY PPTYS INC 1.3%

Value $14.69M (-0.4%) Shares 159,235 (+2.2%) Est. Cost $69.80 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GDX	VANECK ETF TRUST	591,367 (+40.1%)	$54.27M (+50.0%)	4.8%	$60.51	—	GOLD MINERS ETF	92189F106
TLT	ISHARES TR	612,300 (+29.3%)	$53.08M (+28.6%)	4.7%	$94.53	—	20 YR TR BD ETF	464287432
ASTS	AST SPACEMOBILE INC	115,000 (+283.3%)	$9.53M (+337.4%)	0.8%	$98.13	0.0%	PUT	00217D100
COP	CONOCOPHILLIPS	158,700 (+5.8%)	$20.95M (+49.2%)	1.8%	$79.02	+29.9%	PUT	20825C104
GDX	VANECK ETF TRUST	230,000 (+15.0%)	$21.11M (+23.0%)	1.9%	$60.51	—	PUT	92189F106
LH	LABCORP HOLDINGS INC	113,546 (+8.1%)	$30.3M (+15.0%)	2.7%	$242.65	+11.7%	COM SHS	504922105
BRK/B	BERKSHIRE HATHAWAY INC DEL	50,000 (+25.0%)	$23.96M (+19.2%)	2.1%	$498.49	-1.0%	CALL	084670702
XBI	SPDR SERIES TRUST	150,000 (+15.4%)	$19.16M (+20.9%)	1.7%	$98.68	—	STATE STREET SPD	78464A870
CELH	CELSIUS HLDGS INC	100,000 (+400.0%)	$3.548M (+287.8%)	0.3%	$34.96	+45.0%	CALL	15118V207
COST	COSTCO WHOLESALE CORPORATION	7,568 (+20.4%)	$7.541M (+39.1%)	0.7%	$341.63	+182.1%	COM	22160K105
WMT	WALMART INC	123,077 (+1.7%)	$15.3M (+13.5%)	1.4%	$45.35	+169.1%	COM	931142103
AMZN	AMAZON COM INC	151,831 (+5.8%)	$31.62M (-4.5%)	2.8%	$147.30	+54.0%	COM	023135106
CROX	CROCS INC	150,000 (+16.3%)	$12.45M (+12.9%)	1.1%	$100.51	-12.3%	COM	227046109
TJX	TJX COS INC NEW	122,444 (+3.4%)	$19.55M (+7.5%)	1.7%	$36.65	+320.8%	COM	872540109
KNX	KNIGHT-SWIFT TRANSN HLDGS IN	206,143 (+2.1%)	$11.87M (+12.4%)	1.0%	$36.52	+58.4%	CL A	499049104
LAMR	LAMAR ADVERTISING CO	101,700 (+1.7%)	$12.88M (+1.8%)	1.1%	$91.52	—	CL A	512816109
RHP	RYMAN HOSPITALITY PPTYS INC	159,235 (+2.2%)	$14.69M (-0.4%)	1.3%	$69.80	—	COM	78377T107

Exited Positions (7)

MU MICRON TECHNOLOGY INC 6.6%

Value $74.21M Shares 260,000 Est. Cost $156.51 Unrealized +147.3%

AAPL APPLE INC 2.4%

Value $27.19M Shares 100,000 Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 2.2%

Value $24.57M Shares 40,000 Est. Cost $577.18 Unrealized —

PAYX PAYCHEX INC 1.5%

Value $16.83M Shares 150,000 Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.8%

Value $9.325M Shares 50,000 Est. Cost $101.49 Unrealized +83.9%

TXN TEXAS INSTRS INC 0.8%

Value $8.675M Shares 50,000 Est. Cost $206.27 Unrealized 0.0%

TEM TEMPUS AI INC 0.7%

Value $7.676M Shares 130,000 Est. Cost $61.24 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	260,000	$74.21M	6.6%	$156.51	+147.3%	CALL	595112103
AAPL	APPLE INC	100,000	$27.19M	2.4%	—	—	PUT	037833100
QQQ	INVESCO QQQ TR	40,000	$24.57M	2.2%	$577.18	—	PUT	46090E103
PAYX	PAYCHEX INC	150,000	$16.83M	1.5%	—	—	CALL	704326107
NVDA	NVIDIA CORPORATION	50,000	$9.325M	0.8%	$101.49	+83.9%	PUT	67066G104
TXN	TEXAS INSTRS INC	50,000	$8.675M	0.8%	$206.27	0.0%	PUT	882508104
TEM	TEMPUS AI INC	130,000	$7.676M	0.7%	$61.24	0.0%	PUT	88023B103

Decreased Positions (8)

MU MICRON TECHNOLOGY INC 10.7%

Value $122M (-31.3%) Shares 360,000 (-41.9%) Est. Cost $156.51 Unrealized +147.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 2.1%

Value $23.96M (-68.2%) Shares 50,000 (-66.7%) Est. Cost $498.49 Unrealized -1.0%

MU MICRON TECHNOLOGY INC 4.5%

Value $50.68M (-34.2%) Shares 150,000 (-44.4%) Est. Cost $156.51 Unrealized +147.3%

GLD SPDR GOLD TR 4.6%

Value $51.63M (-31.4%) Shares 120,000 (-36.8%) Est. Cost $171.01 Unrealized —

HOOD ROBINHOOD MKTS INC 0.3%

Value $3.465M (-77.4%) Shares 50,000 (-63.1%) Est. Cost $95.75 Unrealized 0.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.7%

Value $18.72M (-35.6%) Shares 39,064 (-32.5%) Est. Cost $498.49 Unrealized -1.0%

GOOGL ALPHABET INC 2.4%

Value $27.35M (-16.3%) Shares 95,112 (-8.9%) Est. Cost $104.69 Unrealized +208.8%

NVDA NVIDIA CORPORATION 2.4%

Value $27.37M (-15.6%) Shares 156,936 (-9.8%) Est. Cost $101.49 Unrealized +83.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	360,000 (-41.9%)	$122M (-31.3%)	10.7%	$156.51	+147.3%	COM	595112103
BRK/B	BERKSHIRE HATHAWAY INC DEL	50,000 (-66.7%)	$23.96M (-68.2%)	2.1%	$498.49	-1.0%	PUT	084670702
MU	MICRON TECHNOLOGY INC	150,000 (-44.4%)	$50.68M (-34.2%)	4.5%	$156.51	+147.3%	PUT	595112103
GLD	SPDR GOLD TR	120,000 (-36.8%)	$51.63M (-31.4%)	4.6%	$171.01	—	PUT	78463V107
HOOD	ROBINHOOD MKTS INC	50,000 (-63.1%)	$3.465M (-77.4%)	0.3%	$95.75	0.0%	PUT	770700102
BRK/B	BERKSHIRE HATHAWAY INC DEL	39,064 (-32.5%)	$18.72M (-35.6%)	1.7%	$498.49	-1.0%	CL B NEW	084670702
GOOGL	ALPHABET INC	95,112 (-8.9%)	$27.35M (-16.3%)	2.4%	$104.69	+208.8%	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	156,936 (-9.8%)	$27.37M (-15.6%)	2.4%	$101.49	+83.9%	COM	67066G104

Unchanged Positions (14)

COP CONOCOPHILLIPS 2.1%

Value $24.1M Shares 182,540 Est. Cost $79.02 Unrealized +29.9%

STUB STUBHUB HLDGS INC 0.4%

Value $4.992M Shares 800,000 Est. Cost $15.72 Unrealized -23.4%

BRK/A BERKSHIRE HATHAWAY INC DEL 7.9%

Value $89.77M Shares 125 Est. Cost $165023.42 Unrealized +348.7%

GLD SPDR GOLD TR 4.6%

Value $51.93M Shares 120,678 Est. Cost $171.01 Unrealized —

MPC MARATHON PETE CORP 0.8%

Value $9.127M Shares 37,378 Est. Cost $44.61 Unrealized +314.1%

LUV SOUTHWEST AIRLS CO 1.8%

Value $20.53M Shares 546,511 Est. Cost $31.41 Unrealized +50.7%

CELH CELSIUS HLDGS INC 0.5%

Value $5.322M Shares 150,000 Est. Cost $34.96 Unrealized +45.0%

GEHC GE HEALTHCARE TECHNOLOGIES I 0.6%

Value $6.881M Shares 96,675 Est. Cost $84.84 Unrealized -3.1%

RIVN RIVIAN AUTOMOTIVE INC 0.3%

Value $3.01M Shares 200,000 Est. Cost — Unrealized —

CHWY CHEWY INC 0.2%

Value $2.7M Shares 100,000 Est. Cost — Unrealized —

SN SHARKNINJA INC 0.8%

Value $9.531M Shares 90,000 Est. Cost $86.45 Unrealized +41.9%

KMX CARMAX INC 0.6%

Value $6.256M Shares 150,455 Est. Cost $61.96 Unrealized -27.6%

VTRS VIATRIS INC 0.4%

Value $4.272M Shares 316,222 Est. Cost $9.85 Unrealized +42.9%

— ASA GOLD AND PRECIOUS MTLS L 0.4%

Value $4.342M Shares 70,000 Est. Cost $12.70 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
COP	CONOCOPHILLIPS	182,540	$24.1M	2.1%	$79.02	+29.9%	COM	20825C104
STUB	STUBHUB HLDGS INC	800,000	$4.992M	0.4%	$15.72	-23.4%	CL A	86384P109
BRK/A	BERKSHIRE HATHAWAY INC DEL	125	$89.77M	7.9%	$165023.42	+348.7%	CL A	084670108
GLD	SPDR GOLD TR	120,678	$51.93M	4.6%	$171.01	—	GOLD SHS	78463V107
MPC	MARATHON PETE CORP	37,378	$9.127M	0.8%	$44.61	+314.1%	COM	56585A102
LUV	SOUTHWEST AIRLS CO	546,511	$20.53M	1.8%	$31.41	+50.7%	COM	844741108
CELH	CELSIUS HLDGS INC	150,000	$5.322M	0.5%	$34.96	+45.0%	COM NEW	15118V207
GEHC	GE HEALTHCARE TECHNOLOGIES I	96,675	$6.881M	0.6%	$84.84	-3.1%	COMMON STOCK	36266G107
RIVN	RIVIAN AUTOMOTIVE INC	200,000	$3.01M	0.3%	—	—	PUT	76954A103
CHWY	CHEWY INC	100,000	$2.7M	0.2%	—	—	PUT	16679L109
SN	SHARKNINJA INC	90,000	$9.531M	0.8%	$86.45	+41.9%	COM SHS	G8068L108
KMX	CARMAX INC	150,455	$6.256M	0.6%	$61.96	-27.6%	COM	143130102
VTRS	VIATRIS INC	316,222	$4.272M	0.4%	$9.85	+42.9%	COM	92556V106
—	ASA GOLD AND PRECIOUS MTLS L	70,000	$4.342M	0.4%	$12.70	—	SHS	G3156P103