Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INTC	INTEL CORP	7,000,000	$309M	0.5%	—	—	CALL	458140100
CAT	CATERPILLAR INC	400,000	$283M	0.5%	—	—	PUT	149123101
ASML	ASML HLDG NV	180,825	$239M	0.4%	$1320.83	—	N Y REGISTRY SHS	N07059210
GLD	SPDR GOLD TR	300,000	$129M	0.2%	—	—	CALL	78463V107
TTMI	TTM TECHNOLOGIES INC	1,050,000	$102M	0.2%	$93.41	0.0%	COM	87305R109
BABA	ALIBABA GROUP HLDG LTD	500,000	$62.73M	0.1%	$125.46	—	SPONSORED ADS	01609W102
NVDA	NVIDIA CORPORATION	210,000	$36.62M	0.1%	$141.81	+31.6%	PUT	67066G104
AVGO	BROADCOM INC	98,090	$30.36M	0.1%	$334.17	0.0%	COM	11135F101
AVGO	BROADCOM INC	95,000	$29.4M	0.0%	$334.17	0.0%	PUT	11135F101

Increased Positions (32)

TSM TAIWAN SEMICONDUCTOR MANUFAC 2.4%

Value $1.402B (+130.8%) Shares 4,150,000 (+107.5%) Est. Cost $114.12 Unrealized —

TER TERADYNE INC 1.4%

Value $827M (+75.6%) Shares 2,789,510 (+14.7%) Est. Cost $107.49 Unrealized +147.4%

AVGO BROADCOM INC 1.2%

Value $696M (+101.0%) Shares 2,250,000 (+124.7%) Est. Cost $334.17 Unrealized 0.0%

NVDA NVIDIA CORPORATION 2.9%

Value $1.744B (+24.7%) Shares 10,000,000 (+33.3%) Est. Cost $141.81 Unrealized +31.6%

VRT VERTIV HOLDINGS CO 1.1%

Value $627M (+93.2%) Shares 2,501,980 (+24.9%) Est. Cost $167.23 Unrealized +19.5%

MCHP MICROCHIP TECHNOLOGY INC. 0.8%

Value $452M (+153.5%) Shares 7,000,000 (+150.0%) Est. Cost — Unrealized —

AAPL APPLE INC 1.5%

Value $922M (+39.8%) Shares 3,632,500 (+49.8%) Est. Cost $95.35 Unrealized +175.6%

SOLS SOLSTICE ADVANCED MATLS INC 0.5%

Value $279M (+411.2%) Shares 3,668,020 (+226.0%) Est. Cost $59.65 Unrealized +9.3%

TWLO TWILIO INC 0.4%

Value $232M (+551.0%) Shares 1,840,000 (+636.0%) Est. Cost $122.14 Unrealized -0.2%

PLTR PALANTIR TECHNOLOGIES INC 0.7%

Value $439M (+64.6%) Shares 3,000,000 (+100.0%) Est. Cost — Unrealized —

SNPS SYNOPSYS INC 1.0%

Value $622M (+32.0%) Shares 1,569,348 (+56.4%) Est. Cost $313.89 Unrealized +50.3%

AMD ADVANCED MICRO DEVICES INC 0.7%

Value $407M (+52.0%) Shares 2,000,000 (+60.0%) Est. Cost — Unrealized —

ETR ENTERGY CORP NEW 0.6%

Value $374M (+47.8%) Shares 3,326,012 (+21.6%) Est. Cost $84.25 Unrealized +15.6%

SHOP SHOPIFY INC 0.8%

Value $474M (+31.0%) Shares 4,000,000 (+77.8%) Est. Cost — Unrealized —

ADI ANALOG DEVICES INC 1.1%

Value $658M (+20.1%) Shares 2,067,083 (+2.4%) Est. Cost $133.66 Unrealized +136.5%

DASH DOORDASH INC 0.4%

Value $240M (-29.3%) Shares 1,600,000 (+6.7%) Est. Cost $234.56 Unrealized -16.2%

META META PLATFORMS INC 2.1%

Value $1.227B (-6.7%) Shares 2,145,399 (+7.7%) Est. Cost $202.10 Unrealized +224.4%

BWXT BWX TECHNOLOGIES INC 0.6%

Value $356M (+30.2%) Shares 1,739,348 (+10.0%) Est. Cost $149.15 Unrealized +36.1%

APH AMPHENOL CORP 1.0%

Value $583M (+15.3%) Shares 4,617,948 (+23.3%) Est. Cost $92.24 Unrealized +58.7%

VST VISTRA CORP 0.6%

Value $383M (+21.9%) Shares 2,546,357 (+30.8%) Est. Cost $149.64 Unrealized +9.1%

SOXX ISHARES TR 0.2%

Value $102M (+76.1%) Shares 310,700 (+61.3%) Est. Cost $311.61 Unrealized —

TSLA TESLA INC 0.7%

Value $409M (-9.1%) Shares 1,100,000 (+10.0%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.1%

Value $74.9M (+89.9%) Shares 429,459 (+103.1%) Est. Cost $141.81 Unrealized +31.6%

AMZN AMAZON COM INC 0.8%

Value $458M (-5.5%) Shares 2,200,000 (+4.8%) Est. Cost $127.74 Unrealized +77.6%

BURL BURLINGTON STORES INC 0.3%

Value $177M (+16.9%) Shares 545,000 (+3.8%) Est. Cost $262.83 Unrealized +15.7%

CTAS CINTAS CORP 0.1%

Value $67.92M (+52.7%) Shares 401,539 (+69.8%) Est. Cost $170.09 Unrealized +13.7%

NI NISOURCE INC 0.3%

Value $157M (+16.4%) Shares 3,365,500 (+4.2%) Est. Cost $38.67 Unrealized +13.8%

EDU NEW ORIENTAL ED & TECHNOLOGY 0.2%

Value $97.86M (+22.8%) Shares 1,727,986 (+19.3%) Est. Cost $53.41 Unrealized —

DIA STATE STR SPDR DOW JONES IND 0.1%

Value $55.44M (+22.9%) Shares 119,700 (+27.5%) Est. Cost $476.82 Unrealized —

CRH CRH PLC 0.4%

Value $215M (-4.1%) Shares 2,050,000 (+13.9%) Est. Cost $108.22 Unrealized +14.9%

TOST TOAST INC 0.1%

Value $32.82M (-19.6%) Shares 1,238,096 (+7.7%) Est. Cost $30.54 Unrealized +1.5%

UBER UBER TECHNOLOGIES INC 0.5%

Value $278M (+1.1%) Shares 3,861,005 (+14.9%) Est. Cost $57.05 Unrealized +38.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	4,150,000 (+107.5%)	$1.402B (+130.8%)	2.4%	$114.12	—	CALL	874039100
TER	TERADYNE INC	2,789,510 (+14.7%)	$827M (+75.6%)	1.4%	$107.49	+147.4%	COM	880770102
AVGO	BROADCOM INC	2,250,000 (+124.7%)	$696M (+101.0%)	1.2%	$334.17	0.0%	CALL	11135F101
NVDA	NVIDIA CORPORATION	10,000,000 (+33.3%)	$1.744B (+24.7%)	2.9%	$141.81	+31.6%	CALL	67066G104
VRT	VERTIV HOLDINGS CO	2,501,980 (+24.9%)	$627M (+93.2%)	1.1%	$167.23	+19.5%	COM CL A	92537N108
MCHP	MICROCHIP TECHNOLOGY INC.	7,000,000 (+150.0%)	$452M (+153.5%)	0.8%	—	—	CALL	595017104
AAPL	APPLE INC	3,632,500 (+49.8%)	$922M (+39.8%)	1.5%	$95.35	+175.6%	CALL	037833100
SOLS	SOLSTICE ADVANCED MATLS INC	3,668,020 (+226.0%)	$279M (+411.2%)	0.5%	$59.65	+9.3%	COM SHS	83443Q103
TWLO	TWILIO INC	1,840,000 (+636.0%)	$232M (+551.0%)	0.4%	$122.14	-0.2%	CL A	90138F102
PLTR	PALANTIR TECHNOLOGIES INC	3,000,000 (+100.0%)	$439M (+64.6%)	0.7%	—	—	CALL	69608A108
SNPS	SYNOPSYS INC	1,569,348 (+56.4%)	$622M (+32.0%)	1.0%	$313.89	+50.3%	COM	871607107
AMD	ADVANCED MICRO DEVICES INC	2,000,000 (+60.0%)	$407M (+52.0%)	0.7%	—	—	CALL	007903107
ETR	ENTERGY CORP NEW	3,326,012 (+21.6%)	$374M (+47.8%)	0.6%	$84.25	+15.6%	COM	29364G103
SHOP	SHOPIFY INC	4,000,000 (+77.8%)	$474M (+31.0%)	0.8%	—	—	CALL	82509L107
ADI	ANALOG DEVICES INC	2,067,083 (+2.4%)	$658M (+20.1%)	1.1%	$133.66	+136.5%	COM	032654105
DASH	DOORDASH INC	1,600,000 (+6.7%)	$240M (-29.3%)	0.4%	$234.56	-16.2%	CALL	25809K105
META	META PLATFORMS INC	2,145,399 (+7.7%)	$1.227B (-6.7%)	2.1%	$202.10	+224.4%	CL A	30303M102
BWXT	BWX TECHNOLOGIES INC	1,739,348 (+10.0%)	$356M (+30.2%)	0.6%	$149.15	+36.1%	COM	05605H100
APH	AMPHENOL CORP	4,617,948 (+23.3%)	$583M (+15.3%)	1.0%	$92.24	+58.7%	CL A	032095101
VST	VISTRA CORP	2,546,357 (+30.8%)	$383M (+21.9%)	0.6%	$149.64	+9.1%	COM	92840M102
SOXX	ISHARES TR	310,700 (+61.3%)	$102M (+76.1%)	0.2%	$311.61	—	ISHARES SEMICDTR	464287523
TSLA	TESLA INC	1,100,000 (+10.0%)	$409M (-9.1%)	0.7%	—	—	CALL	88160R101
NVDA	NVIDIA CORPORATION	429,459 (+103.1%)	$74.9M (+89.9%)	0.1%	$141.81	+31.6%	COM	67066G104
AMZN	AMAZON COM INC	2,200,000 (+4.8%)	$458M (-5.5%)	0.8%	$127.74	+77.6%	CALL	023135106
BURL	BURLINGTON STORES INC	545,000 (+3.8%)	$177M (+16.9%)	0.3%	$262.83	+15.7%	COM	122017106
CTAS	CINTAS CORP	401,539 (+69.8%)	$67.92M (+52.7%)	0.1%	$170.09	+13.7%	COM	172908105
NI	NISOURCE INC	3,365,500 (+4.2%)	$157M (+16.4%)	0.3%	$38.67	+13.8%	COM	65473P105
EDU	NEW ORIENTAL ED & TECHNOLOGY	1,727,986 (+19.3%)	$97.86M (+22.8%)	0.2%	$53.41	—	SPON ADR	647581206
DIA	STATE STR SPDR DOW JONES IND	119,700 (+27.5%)	$55.44M (+22.9%)	0.1%	$476.82	—	UT SER 1	78467X109
CRH	CRH PLC	2,050,000 (+13.9%)	$215M (-4.1%)	0.4%	$108.22	+14.9%	ORD	G25508105
TOST	TOAST INC	1,238,096 (+7.7%)	$32.82M (-19.6%)	0.1%	$30.54	+1.5%	CL A	888787108
UBER	UBER TECHNOLOGIES INC	3,861,005 (+14.9%)	$278M (+1.1%)	0.5%	$57.05	+38.0%	COM	90353T100

Exited Positions (19)

MSFT MICROSOFT CORP 1.2%

Value $725M Shares 1,500,000 Est. Cost $266.88 Unrealized +62.8%

AMD ADVANCED MICRO DEVICES INC 0.9%

Value $535M Shares 2,500,000 Est. Cost — Unrealized —

MMM 3M CO 0.7%

Value $424M Shares 2,650,000 Est. Cost — Unrealized —

CRM SALESFORCE INC 0.6%

Value $371M Shares 1,400,000 Est. Cost — Unrealized —

ORCL ORACLE CORP 0.3%

Value $195M Shares 1,000,000 Est. Cost $160.80 Unrealized +5.5%

GOOGL ALPHABET INC 0.3%

Value $157M Shares 500,000 Est. Cost $131.33 Unrealized +146.2%

DELL DELL TECHNOLOGIES INC 0.2%

Value $134M Shares 1,062,409 Est. Cost $85.93 Unrealized +38.5%

CMI CUMMINS INC 0.2%

Value $96.99M Shares 190,000 Est. Cost $466.32 Unrealized +23.4%

RDDT REDDIT INC 0.2%

Value $91.95M Shares 400,000 Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 0.2%

Value $89.67M Shares 131,500 Est. Cost $681.92 Unrealized —

AMT AMERICAN TOWER CORP NEW 0.1%

Value $75.21M Shares 428,401 Est. Cost $137.61 Unrealized +27.0%

IWM ISHARES TR 0.1%

Value $44.19M Shares 179,500 Est. Cost $246.16 Unrealized —

JD JD.COM INC 0.1%

Value $42.22M Shares 1,471,173 Est. Cost $34.53 Unrealized —

AGX ARGAN INC 0.1%

Value $34.1M Shares 108,845 Est. Cost $228.35 Unrealized +62.3%

MDB MONGODB INC 0.0%

Value $20.98M Shares 50,000 Est. Cost $257.06 Unrealized +46.3%

BEKE KE HLDGS INC 0.0%

Value $17.23M Shares 1,093,559 Est. Cost $17.94 Unrealized —

ORCL ORACLE CORP 0.0%

Value $9.745M Shares 50,000 Est. Cost $160.80 Unrealized +5.5%

NOW SERVICENOW INC 0.0%

Value $9.217M Shares 60,170 Est. Cost $171.54 Unrealized -29.4%

OS ONESTREAM INC 0.0%

Value $8.73M Shares 475,000 Est. Cost $25.65 Unrealized -9.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	1,500,000	$725M	1.2%	$266.88	+62.8%	CALL	594918104
AMD	ADVANCED MICRO DEVICES INC	2,500,000	$535M	0.9%	—	—	PUT	007903107
MMM	3M CO	2,650,000	$424M	0.7%	—	—	CALL	88579Y101
CRM	SALESFORCE INC	1,400,000	$371M	0.6%	—	—	CALL	79466L302
ORCL	ORACLE CORP	1,000,000	$195M	0.3%	$160.80	+5.5%	CALL	68389X105
GOOGL	ALPHABET INC	500,000	$157M	0.3%	$131.33	+146.2%	CALL	02079K305
DELL	DELL TECHNOLOGIES INC	1,062,409	$134M	0.2%	$85.93	+38.5%	—	24703L202
CMI	CUMMINS INC	190,000	$96.99M	0.2%	$466.32	+23.4%	—	231021106
RDDT	REDDIT INC	400,000	$91.95M	0.2%	—	—	CALL	75734B100
SPY	SPDR S&P 500 ETF TR	131,500	$89.67M	0.2%	$681.92	—	—	78462F103
AMT	AMERICAN TOWER CORP NEW	428,401	$75.21M	0.1%	$137.61	+27.0%	—	03027X100
IWM	ISHARES TR	179,500	$44.19M	0.1%	$246.16	—	—	464287655
JD	JD.COM INC	1,471,173	$42.22M	0.1%	$34.53	—	—	47215P106
AGX	ARGAN INC	108,845	$34.1M	0.1%	$228.35	+62.3%	—	04010E109
MDB	MONGODB INC	50,000	$20.98M	0.0%	$257.06	+46.3%	—	60937P106
BEKE	KE HLDGS INC	1,093,559	$17.23M	0.0%	$17.94	—	—	482497104
ORCL	ORACLE CORP	50,000	$9.745M	0.0%	$160.80	+5.5%	—	68389X105
NOW	SERVICENOW INC	60,170	$9.217M	0.0%	$171.54	-29.4%	—	81762P102
OS	ONESTREAM INC	475,000	$8.73M	0.0%	$25.65	-9.2%	—	68278B107

Decreased Positions (27)

SPY STATE STR SPDR S&P 500 ETF T 23.0%

Value $13.66B (-9.8%) Shares 21,000,000 (-5.4%) Est. Cost $681.92 Unrealized —

MSFT MICROSOFT CORP 0.7%

Value $445M (-53.5%) Shares 1,201,176 (-39.2%) Est. Cost $266.88 Unrealized +62.8%

LRCX LAM RESEARCH CORP 0.5%

Value $275M (-59.9%) Shares 1,285,000 (-67.9%) Est. Cost $75.78 Unrealized +198.2%

GOOGL ALPHABET INC 2.4%

Value $1.455B (-19.9%) Shares 5,058,618 (-12.8%) Est. Cost $131.33 Unrealized +146.2%

BKNG BOOKING HOLDINGS INC 1.1%

Value $632M (-32.6%) Shares 150,000 (-14.3%) Est. Cost — Unrealized —

LRCX LAM RESEARCH CORP 1.4%

Value $833M (-24.2%) Shares 3,900,456 (-39.2%) Est. Cost $75.78 Unrealized +198.2%

KLAC KLA CORP 0.5%

Value $294M (-39.4%) Shares 200,000 (-50.0%) Est. Cost $419.65 Unrealized +248.4%

MELI MERCADOLIBRE INC 0.5%

Value $312M (-35.6%) Shares 180,499 (-24.9%) Est. Cost $1178.31 Unrealized +75.4%

LVS LAS VEGAS SANDS CORP 0.3%

Value $154M (-41.7%) Shares 2,850,000 (-29.6%) Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 1.3%

Value $765M (-12.4%) Shares 1,325,777 (-6.8%) Est. Cost $491.93 Unrealized —

MDGL MADRIGAL PHARMACEUTICALS INC 0.1%

Value $41.88M (-70.0%) Shares 80,000 (-66.7%) Est. Cost $441.92 Unrealized +11.4%

YMM FULL TRUCK ALLIANCE CO LTD 0.1%

Value $73.86M (-51.5%) Shares 8,898,535 (-37.3%) Est. Cost $10.73 Unrealized —

MAR MARRIOTT INTL INC NEW 0.9%

Value $515M (-10.9%) Shares 1,575,000 (-15.4%) Est. Cost — Unrealized —

LOW LOWES COS INC 0.1%

Value $50.47M (-55.3%) Shares 213,594 (-54.4%) Est. Cost $189.71 Unrealized +43.1%

TDG TRANSDIGM GROUP INC 0.3%

Value $173M (-21.6%) Shares 149,078 (-10.0%) Est. Cost $545.77 Unrealized +149.5%

JCI JOHNSON CONTROLS INTERNATION 0.1%

Value $35.36M (-52.4%) Shares 270,000 (-56.5%) Est. Cost $81.59 Unrealized +54.5%

ALAB ASTERA LABS INC 0.0%

Value $21.92M (-59.5%) Shares 200,000 (-38.5%) Est. Cost $88.24 Unrealized +78.6%

FROG JFROG LTD 0.0%

Value $677K (-97.4%) Shares 14,425 (-96.5%) Est. Cost $43.50 Unrealized +21.8%

RBRK RUBRIK INC. 0.0%

Value $24.48M (-46.6%) Shares 500,000 (-16.7%) Est. Cost $54.79 Unrealized +10.7%

SARO STANDARDAERO INC 0.1%

Value $31.05M (-36.4%) Shares 1,202,019 (-29.4%) Est. Cost $28.64 Unrealized +9.2%

IREN IREN LIMITED 0.0%

Value $17.14M (-43.3%) Shares 500,000 (-37.5%) Est. Cost $13.51 Unrealized +257.2%

HNGE HINGE HEALTH INC 0.0%

Value $26.65M (-27.5%) Shares 691,104 (-12.6%) Est. Cost $44.48 Unrealized -8.8%

PWR QUANTA SVCS INC 0.4%

Value $220M (+4.1%) Shares 400,983 (-20.0%) Est. Cost $268.38 Unrealized +81.2%

KLAC KLA CORP 1.4%

Value $855M (-0.9%) Shares 580,915 (-18.2%) Est. Cost $419.65 Unrealized +248.4%

ANRO ALTO NEUROSCIENCE INC 0.0%

Value $5.105M (-39.9%) Shares 227,101 (-52.4%) Est. Cost $13.01 Unrealized +28.8%

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.1%

Value $50.69M (-4.7%) Shares 150,000 (-14.3%) Est. Cost $114.12 Unrealized —

HLT HILTON WORLDWIDE HLDGS INC 0.7%

Value $433M (+0.6%) Shares 1,425,000 (-5.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	21,000,000 (-5.4%)	$13.66B (-9.8%)	23.0%	$681.92	—	PUT	78462F103
MSFT	MICROSOFT CORP	1,201,176 (-39.2%)	$445M (-53.5%)	0.7%	$266.88	+62.8%	COM	594918104
LRCX	LAM RESEARCH CORP	1,285,000 (-67.9%)	$275M (-59.9%)	0.5%	$75.78	+198.2%	PUT	512807306
GOOGL	ALPHABET INC	5,058,618 (-12.8%)	$1.455B (-19.9%)	2.4%	$131.33	+146.2%	CAP STK CL A	02079K305
BKNG	BOOKING HOLDINGS INC	150,000 (-14.3%)	$632M (-32.6%)	1.1%	—	—	CALL	09857L108
LRCX	LAM RESEARCH CORP	3,900,456 (-39.2%)	$833M (-24.2%)	1.4%	$75.78	+198.2%	COM NEW	512807306
KLAC	KLA CORP	200,000 (-50.0%)	$294M (-39.4%)	0.5%	$419.65	+248.4%	PUT	482480100
MELI	MERCADOLIBRE INC	180,499 (-24.9%)	$312M (-35.6%)	0.5%	$1178.31	+75.4%	COM	58733R102
LVS	LAS VEGAS SANDS CORP	2,850,000 (-29.6%)	$154M (-41.7%)	0.3%	—	—	CALL	517834107
QQQ	INVESCO QQQ TR	1,325,777 (-6.8%)	$765M (-12.4%)	1.3%	$491.93	—	UNIT SER 1	46090E103
MDGL	MADRIGAL PHARMACEUTICALS INC	80,000 (-66.7%)	$41.88M (-70.0%)	0.1%	$441.92	+11.4%	COM	558868105
YMM	FULL TRUCK ALLIANCE CO LTD	8,898,535 (-37.3%)	$73.86M (-51.5%)	0.1%	$10.73	—	SPONSORED ADS	35969L108
MAR	MARRIOTT INTL INC NEW	1,575,000 (-15.4%)	$515M (-10.9%)	0.9%	—	—	CALL	571903202
LOW	LOWES COS INC	213,594 (-54.4%)	$50.47M (-55.3%)	0.1%	$189.71	+43.1%	COM	548661107
TDG	TRANSDIGM GROUP INC	149,078 (-10.0%)	$173M (-21.6%)	0.3%	$545.77	+149.5%	COM	893641100
JCI	JOHNSON CONTROLS INTERNATION	270,000 (-56.5%)	$35.36M (-52.4%)	0.1%	$81.59	+54.5%	SHS	G51502105
ALAB	ASTERA LABS INC	200,000 (-38.5%)	$21.92M (-59.5%)	0.0%	$88.24	+78.6%	COM	04626A103
FROG	JFROG LTD	14,425 (-96.5%)	$677K (-97.4%)	0.0%	$43.50	+21.8%	ORD SHS	M6191J100
RBRK	RUBRIK INC.	500,000 (-16.7%)	$24.48M (-46.6%)	0.0%	$54.79	+10.7%	CL A	781154109
SARO	STANDARDAERO INC	1,202,019 (-29.4%)	$31.05M (-36.4%)	0.1%	$28.64	+9.2%	COM	85423L103
IREN	IREN LIMITED	500,000 (-37.5%)	$17.14M (-43.3%)	0.0%	$13.51	+257.2%	ORDINARY SHARES	Q4982L109
HNGE	HINGE HEALTH INC	691,104 (-12.6%)	$26.65M (-27.5%)	0.0%	$44.48	-8.8%	CL A	433313103
PWR	QUANTA SVCS INC	400,983 (-20.0%)	$220M (+4.1%)	0.4%	$268.38	+81.2%	COM	74762E102
KLAC	KLA CORP	580,915 (-18.2%)	$855M (-0.9%)	1.4%	$419.65	+248.4%	COM NEW	482480100
ANRO	ALTO NEUROSCIENCE INC	227,101 (-52.4%)	$5.105M (-39.9%)	0.0%	$13.01	+28.8%	COM SHS	02157Q109
TSM	TAIWAN SEMICONDUCTOR MANUFAC	150,000 (-14.3%)	$50.69M (-4.7%)	0.1%	$114.12	—	PUT	874039100
HLT	HILTON WORLDWIDE HLDGS INC	1,425,000 (-5.0%)	$433M (+0.6%)	0.7%	—	—	CALL	43300A203

Unchanged Positions (34)

QQQ INVESCO QQQ TR 21.5%

Value $12.79B Shares 22,151,700 Est. Cost $491.93 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 3.1%

Value $1.832B Shares 5,421,668 Est. Cost $114.12 Unrealized —

EXPE EXPEDIA GROUP INC 1.0%

Value $572M Shares 2,475,276 Est. Cost $150.15 Unrealized +68.8%

AMZN AMAZON COM INC 2.0%

Value $1.21B Shares 5,808,299 Est. Cost $127.74 Unrealized +77.6%

CEG CONSTELLATION ENERGY CORP 0.6%

Value $384M Shares 1,374,739 Est. Cost $235.63 Unrealized +27.8%

DASH DOORDASH INC 0.3%

Value $178M Shares 1,183,210 Est. Cost $234.56 Unrealized -16.2%

V VISA INC 0.7%

Value $444M Shares 1,468,618 Est. Cost $138.05 Unrealized +138.5%

CG CARLYLE GROUP INC 0.5%

Value $288M Shares 5,941,316 Est. Cost $34.36 Unrealized +71.6%

CDNS CADENCE DESIGN SYSTEM INC 0.8%

Value $451M Shares 1,622,874 Est. Cost $34.27 Unrealized +785.0%

MA MASTERCARD INCORPORATED 0.7%

Value $389M Shares 778,465 Est. Cost $187.10 Unrealized +188.1%

EQIX EQUINIX INC 0.4%

Value $229M Shares 233,775 Est. Cost $495.61 Unrealized +54.2%

SSNC SS&C TECH HLDGS 0.2%

Value $119M Shares 1,764,916 Est. Cost $51.89 Unrealized +54.2%

WYNN WYNN RESORTS LTD 0.2%

Value $146M Shares 1,441,100 Est. Cost — Unrealized —

MLM MARTIN MARIETTA MATLS INC 0.7%

Value $440M Shares 747,351 Est. Cost $443.36 Unrealized +49.1%

ORIC ORIC PHARMACEUTICALS INC 0.1%

Value $57.07M Shares 4,504,096 Est. Cost $12.39 Unrealized -13.1%

VMC VULCAN MATLS CO 0.7%

Value $403M Shares 1,478,646 Est. Cost $209.41 Unrealized +46.5%

SPGI S&P GLOBAL INC 0.1%

Value $80.99M Shares 190,416 Est. Cost $346.82 Unrealized +39.9%

ROST ROSS STORES INC 0.2%

Value $102M Shares 472,635 Est. Cost $102.18 Unrealized +88.3%

TJX TJX COS INC NEW 0.8%

Value $447M Shares 2,799,971 Est. Cost $54.55 Unrealized +182.7%

GE GE AEROSPACE 0.3%

Value $199M Shares 700,000 Est. Cost $168.92 Unrealized +88.4%

GBTC GRAYSCALE BITCOIN TRUST ETF 0.1%

Value $48.54M Shares 920,000 Est. Cost — Unrealized —

PATH UIPATH INC 0.0%

Value $28.99M Shares 2,611,276 Est. Cost $44.97 Unrealized -70.0%

RTX RTX CORPORATION 0.4%

Value $241M Shares 1,250,000 Est. Cost $173.32 Unrealized +13.4%

NAVN NAVAN INC 0.1%

Value $35.57M Shares 2,686,828 Est. Cost $15.89 Unrealized -18.3%

CP CANADIAN PACIFIC KANSAS CITY 0.3%

Value $158M Shares 2,004,000 Est. Cost $76.05 Unrealized +1.6%

ICE INTERCONTINENTAL EXCHANGE IN 0.5%

Value $283M Shares 1,800,310 Est. Cost $62.06 Unrealized +165.8%

CMG CHIPOTLE MEXICAN GRILL INC 0.0%

Value $16.01M Shares 500,289 Est. Cost $61.16 Unrealized -36.6%

YUM YUM BRANDS INC 0.1%

Value $72.39M Shares 465,603 Est. Cost $81.28 Unrealized +93.6%

BTDR BITDEER TECHNOLOGIES GROUP 0.0%

Value $4.109M Shares 475,000 Est. Cost $16.11 Unrealized -25.5%

PCTY PAYLOCITY HLDG CORP 0.0%

Value $2.667M Shares 24,683 Est. Cost $178.24 Unrealized -27.4%

SHW SHERWIN WILLIAMS CO 0.2%

Value $98.32M Shares 306,735 Est. Cost $238.14 Unrealized +49.2%

AAPL APPLE INC 0.0%

Value $14.37M Shares 56,627 Est. Cost $95.35 Unrealized +175.6%

DLO DLOCAL LTD 0.0%

Value $10.69M Shares 823,837 Est. Cost $21.96 Unrealized -38.2%

TLT ISHARES TR 0.1%

Value $44.3M Shares 511,000 Est. Cost $87.16 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	22,151,700	$12.79B	21.5%	$491.93	—	PUT	46090E103
TSM	TAIWAN SEMICONDUCTOR MANUFAC	5,421,668	$1.832B	3.1%	$114.12	—	SPONSORED ADS	874039100
EXPE	EXPEDIA GROUP INC	2,475,276	$572M	1.0%	$150.15	+68.8%	COM NEW	30212P303
AMZN	AMAZON COM INC	5,808,299	$1.21B	2.0%	$127.74	+77.6%	COM	023135106
CEG	CONSTELLATION ENERGY CORP	1,374,739	$384M	0.6%	$235.63	+27.8%	COM	21037T109
DASH	DOORDASH INC	1,183,210	$178M	0.3%	$234.56	-16.2%	CL A	25809K105
V	VISA INC	1,468,618	$444M	0.7%	$138.05	+138.5%	COM CL A	92826C839
CG	CARLYLE GROUP INC	5,941,316	$288M	0.5%	$34.36	+71.6%	COM	14316J108
CDNS	CADENCE DESIGN SYSTEM INC	1,622,874	$451M	0.8%	$34.27	+785.0%	COM	127387108
MA	MASTERCARD INCORPORATED	778,465	$389M	0.7%	$187.10	+188.1%	CL A	57636Q104
EQIX	EQUINIX INC	233,775	$229M	0.4%	$495.61	+54.2%	COM	29444U700
SSNC	SS&C TECH HLDGS	1,764,916	$119M	0.2%	$51.89	+54.2%	COM	78467J100
WYNN	WYNN RESORTS LTD	1,441,100	$146M	0.2%	—	—	CALL	983134107
MLM	MARTIN MARIETTA MATLS INC	747,351	$440M	0.7%	$443.36	+49.1%	COM	573284106
ORIC	ORIC PHARMACEUTICALS INC	4,504,096	$57.07M	0.1%	$12.39	-13.1%	COM	68622P109
VMC	VULCAN MATLS CO	1,478,646	$403M	0.7%	$209.41	+46.5%	COM	929160109
SPGI	S&P GLOBAL INC	190,416	$80.99M	0.1%	$346.82	+39.9%	COM	78409V104
ROST	ROSS STORES INC	472,635	$102M	0.2%	$102.18	+88.3%	COM	778296103
TJX	TJX COS INC NEW	2,799,971	$447M	0.8%	$54.55	+182.7%	COM	872540109
GE	GE AEROSPACE	700,000	$199M	0.3%	$168.92	+88.4%	COM NEW	369604301
GBTC	GRAYSCALE BITCOIN TRUST ETF	920,000	$48.54M	0.1%	—	—	CALL	389637109
PATH	UIPATH INC	2,611,276	$28.99M	0.0%	$44.97	-70.0%	CL A	90364P105
RTX	RTX CORPORATION	1,250,000	$241M	0.4%	$173.32	+13.4%	COM	75513E101
NAVN	NAVAN INC	2,686,828	$35.57M	0.1%	$15.89	-18.3%	CL A	639193101
CP	CANADIAN PACIFIC KANSAS CITY	2,004,000	$158M	0.3%	$76.05	+1.6%	COM	13646K108
ICE	INTERCONTINENTAL EXCHANGE IN	1,800,310	$283M	0.5%	$62.06	+165.8%	COM	45866F104
CMG	CHIPOTLE MEXICAN GRILL INC	500,289	$16.01M	0.0%	$61.16	-36.6%	COM	169656105
YUM	YUM BRANDS INC	465,603	$72.39M	0.1%	$81.28	+93.6%	COM	988498101
BTDR	BITDEER TECHNOLOGIES GROUP	475,000	$4.109M	0.0%	$16.11	-25.5%	CL A ORD SHS	G11448100
PCTY	PAYLOCITY HLDG CORP	24,683	$2.667M	0.0%	$178.24	-27.4%	COM	70438V106
SHW	SHERWIN WILLIAMS CO	306,735	$98.32M	0.2%	$238.14	+49.2%	COM	824348106
AAPL	APPLE INC	56,627	$14.37M	0.0%	$95.35	+175.6%	COM	037833100
DLO	DLOCAL LTD	823,837	$10.69M	0.0%	$21.96	-38.2%	CLASS A COM	G29018101
TLT	ISHARES TR	511,000	$44.3M	0.1%	$87.16	—	20 YR TR BD ETF	464287432