Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EQIX	EQUINIX INC	1,090,886	$1.069B	3.7%	$764.11	0.0%	COM	29444U700
ASML	ASML HLDG NV	496,234	$655M	2.3%	$1320.83	—	N Y REGISTRY SHS	N07059210
V	VISA INC	718,753	$217M	0.7%	$329.17	0.0%	COM CL A	92826C839
QCOM	QUALCOMM INC	1,387,312	$179M	0.6%	$153.90	0.0%	COM	747525103
SOLS	SOLSTICE ADVANCED MATLS INC	1,654,589	$126M	0.4%	$65.21	0.0%	COM SHS	83443Q103
ENPH	ENPHASE ENERGY INC	1,647,893	$62.31M	0.2%	$41.25	0.0%	COM	29355A107
MU	MICRON TECHNOLOGY INC	165,931	$56.06M	0.2%	$387.04	0.0%	COM	595112103
ABR	ARBOR REALTY TRUST INC	4,196,885	$32.36M	0.1%	$7.71	—	COM	038923108
TTD	THE TRADE DESK INC	1,387,089	$31.47M	0.1%	$31.21	0.0%	COM CL A	88339J105
NVAX	NOVAVAX INC	3,836,986	$31.23M	0.1%	$8.64	0.0%	COM NEW	670002401
PINS	PINTEREST INC	1,678,764	$30.79M	0.1%	$22.23	0.0%	CL A	72352L106
Z	ZILLOW GROUP INC	739,700	$30.61M	0.1%	$58.75	0.0%	CL C CAP STK	98954M200
PATH	UIPATH INC	2,269,557	$25.19M	0.1%	$13.48	0.0%	CL A	90364P105
UPST	UPSTART HLDGS INC	870,947	$22.34M	0.1%	$40.17	0.0%	COM	91680M107
RNG	RINGCENTRAL INC	411,351	$15.3M	0.1%	$28.72	0.0%	CL A	76680R206
ZG	ZILLOW GROUP INC	328,189	$13.58M	0.0%	$58.23	0.0%	CL A	98954M101
PTON	PELOTON INTERACTIVE INC	2,500,000	$10.72M	0.0%	$5.43	0.0%	CL A COM	70614W100
PLUG	PLUG PWR INC	2,545,243	$5.752M	0.0%	$2.15	0.0%	COM NEW	72919P202
LCID	LUCID GROUP INC	295,393	$2.815M	0.0%	$10.60	0.0%	COM NEW	549498202
OLPX	OLAPLEX HLDGS INC	1,264,968	$2.568M	0.0%	$1.57	0.0%	COM	679369108
SFIX	STITCH FIX INC	735,373	$2.434M	0.0%	$4.56	0.0%	COM CL A	860897107
HTZWW	HERTZ GLOBAL HLDGS INC	468,814	$1.069M	0.0%	$2.28	—	*W EXP 06/30/205	42806J148
CHPT	CHARGEPOINT HOLDINGS INC	154,086	$749K	0.0%	$6.44	0.0%	COM SHS	15961R303
HTZ	HERTZ GLOBAL HLDGS INC	106,823	$492K	0.0%	$5.19	0.0%	COM NEW	42806J700
BYND	BEYOND MEAT INC	343,393	$241K	0.0%	$0.83	0.0%	COM	08862E109
AMC	AMC ENTMT HLDGS INC	228,136	$224K	0.0%	$1.43	0.0%	CL A NEW	00165C302

Increased Positions (8)

TSM TAIWAN SEMICONDUCTOR MANUFAC 10.8%

Value $3.137B (+19.6%) Shares 9,283,547 (+7.6%) Est. Cost $166.44 Unrealized —

LRCX LAM RESEARCH CORP 7.4%

Value $2.146B (+27.8%) Shares 10,043,505 (+2.4%) Est. Cost $80.59 Unrealized +180.3%

VRT VERTIV HOLDINGS CO 0.8%

Value $246M (+83.2%) Shares 981,633 (+18.4%) Est. Cost $177.67 Unrealized +12.5%

ISRG INTUITIVE SURGICAL INC 1.4%

Value $394M (-13.8%) Shares 855,225 (+5.9%) Est. Cost $361.47 Unrealized +44.1%

SFM SPROUTS FMRS MKT INC 0.3%

Value $92.85M (+93.6%) Shares 1,203,773 (+100.0%) Est. Cost $81.05 Unrealized -10.7%

CHRW C H ROBINSON WORLDWIDE IN 0.3%

Value $95.16M (+73.6%) Shares 573,010 (+68.0%) Est. Cost $161.08 Unrealized +12.6%

GNRC GENERAC HLDGS INC 0.3%

Value $76.28M (+51.5%) Shares 390,513 (+5.8%) Est. Cost $162.54 Unrealized +12.7%

QS QUANTUMSCAPE CORP 0.1%

Value $27.4M (-28.8%) Shares 4,294,995 (+16.2%) Est. Cost $5.54 Unrealized +66.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	9,283,547 (+7.6%)	$3.137B (+19.6%)	10.8%	$166.44	—	SPONSORED ADS	874039100
LRCX	LAM RESEARCH CORP	10,043,505 (+2.4%)	$2.146B (+27.8%)	7.4%	$80.59	+180.3%	COM NEW	512807306
VRT	VERTIV HOLDINGS CO	981,633 (+18.4%)	$246M (+83.2%)	0.8%	$177.67	+12.5%	COM CL A	92537N108
ISRG	INTUITIVE SURGICAL INC	855,225 (+5.9%)	$394M (-13.8%)	1.4%	$361.47	+44.1%	COM NEW	46120E602
SFM	SPROUTS FMRS MKT INC	1,203,773 (+100.0%)	$92.85M (+93.6%)	0.3%	$81.05	-10.7%	COM	85208M102
CHRW	C H ROBINSON WORLDWIDE IN	573,010 (+68.0%)	$95.16M (+73.6%)	0.3%	$161.08	+12.6%	COM NEW	12541W209
GNRC	GENERAC HLDGS INC	390,513 (+5.8%)	$76.28M (+51.5%)	0.3%	$162.54	+12.7%	COM	368736104
QS	QUANTUMSCAPE CORP	4,294,995 (+16.2%)	$27.4M (-28.8%)	0.1%	$5.54	+66.7%	COM CL A	74767V109

Exited Positions (16)

ORCL ORACLE CORP 3.0%

Value $865M Shares 4,440,008 Est. Cost $179.08 Unrealized -5.3%

SNOW SNOWFLAKE INC 1.9%

Value $544M Shares 2,480,963 Est. Cost $220.94 Unrealized -12.0%

ADBE ADOBE INC 1.1%

Value $306M Shares 874,150 Est. Cost $403.17 Unrealized -28.1%

AMD ADVANCED MICRO DEVICES INC 0.9%

Value $265M Shares 1,239,043 Est. Cost $85.11 Unrealized +160.5%

ARM ARM HOLDINGS PLC 0.9%

Value $251M Shares 2,300,000 Est. Cost $160.82 Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.6%

Value $177M Shares 2,079,046 Est. Cost $70.24 Unrealized +15.4%

RKT ROCKET COS INC 0.4%

Value $131M Shares 6,747,052 Est. Cost $17.88 Unrealized +12.7%

AXON AXON ENTERPRISE INC 0.3%

Value $88.25M Shares 155,387 Est. Cost $620.52 Unrealized -15.1%

INFY INFOSYS LTD 0.3%

Value $81.52M Shares 4,574,706 Est. Cost $17.82 Unrealized —

EXPD EXPEDITORS INTL WASH INC 0.2%

Value $54.54M Shares 365,987 Est. Cost $135.64 Unrealized +15.6%

CHA CHAGEE HLDGS LTD 0.1%

Value $36.91M Shares 3,174,115 Est. Cost $26.11 Unrealized —

SPGI S&P GLOBAL INC 0.1%

Value $33.16M Shares 63,451 Est. Cost $494.21 Unrealized -1.8%

MCO MOODYS CORP 0.1%

Value $32.83M Shares 64,260 Est. Cost $487.35 Unrealized +0.5%

NAVN NAVAN INC 0.0%

Value $10.24M Shares 599,280 Est. Cost $15.89 Unrealized -18.3%

MRNA MODERNA INC 0.0%

Value $5.898M Shares 200,000 Est. Cost $27.17 Unrealized +58.1%

BULL WEBULL CORP 0.0%

Value $578K Shares 74,334 Est. Cost $14.98 Unrealized -52.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ORCL	ORACLE CORP	4,440,008	$865M	3.0%	$179.08	-5.3%	—	68389X105
SNOW	SNOWFLAKE INC	2,480,963	$544M	1.9%	$220.94	-12.0%	—	833445109
ADBE	ADOBE INC	874,150	$306M	1.1%	$403.17	-28.1%	—	00724F101
AMD	ADVANCED MICRO DEVICES INC	1,239,043	$265M	0.9%	$85.11	+160.5%	—	007903107
ARM	ARM HOLDINGS PLC	2,300,000	$251M	0.9%	$160.82	—	—	042068205
MRVL	MARVELL TECHNOLOGY INC	2,079,046	$177M	0.6%	$70.24	+15.4%	—	573874104
RKT	ROCKET COS INC	6,747,052	$131M	0.4%	$17.88	+12.7%	—	77311W101
AXON	AXON ENTERPRISE INC	155,387	$88.25M	0.3%	$620.52	-15.1%	—	05464C101
INFY	INFOSYS LTD	4,574,706	$81.52M	0.3%	$17.82	—	—	456788108
EXPD	EXPEDITORS INTL WASH INC	365,987	$54.54M	0.2%	$135.64	+15.6%	—	302130109
CHA	CHAGEE HLDGS LTD	3,174,115	$36.91M	0.1%	$26.11	—	—	15743P104
SPGI	S&P GLOBAL INC	63,451	$33.16M	0.1%	$494.21	-1.8%	—	78409V104
MCO	MOODYS CORP	64,260	$32.83M	0.1%	$487.35	+0.5%	—	615369105
NAVN	NAVAN INC	599,280	$10.24M	0.0%	$15.89	-18.3%	—	639193101
MRNA	MODERNA INC	200,000	$5.898M	0.0%	$27.17	+58.1%	—	60770K107
BULL	WEBULL CORP	74,334	$578K	0.0%	$14.98	-52.3%	—	G9572D103

Decreased Positions (21)

MSFT MICROSOFT CORP 3.2%

Value $918M (-63.3%) Shares 2,480,017 (-52.0%) Est. Cost $352.98 Unrealized +23.1%

APP APPLOVIN CORP 1.8%

Value $513M (-65.1%) Shares 1,290,008 (-41.0%) Est. Cost $150.24 Unrealized +237.5%

DASH DOORDASH INC 0.3%

Value $82.85M (-91.6%) Shares 551,808 (-87.4%) Est. Cost $192.50 Unrealized +2.2%

GOOGL ALPHABET INC 4.3%

Value $1.24B (-42.1%) Shares 4,313,426 (-37.0%) Est. Cost $188.25 Unrealized +71.7%

RDDT REDDIT INC 1.3%

Value $376M (-70.6%) Shares 2,789,891 (-49.7%) Est. Cost $121.08 Unrealized +56.6%

META META PLATFORMS INC 5.5%

Value $1.609B (-35.6%) Shares 2,812,056 (-25.6%) Est. Cost $227.85 Unrealized +187.7%

CEG CONSTELLATION ENERGY CORP 4.5%

Value $1.294B (-38.0%) Shares 4,632,475 (-21.6%) Est. Cost $189.35 Unrealized +59.0%

SPOT SPOTIFY TECHNOLOGY S A 2.2%

Value $641M (-55.0%) Shares 1,320,914 (-46.1%) Est. Cost $492.88 Unrealized +0.9%

TSLA TESLA INC 0.1%

Value $21.87M (-97.0%) Shares 58,838 (-96.4%) Est. Cost $238.88 Unrealized +78.3%

AMZN AMAZON COM INC 5.7%

Value $1.652B (-28.0%) Shares 7,930,766 (-20.2%) Est. Cost $135.27 Unrealized +67.7%

CVNA CARVANA CO 0.7%

Value $214M (-74.1%) Shares 681,000 (-65.2%) Est. Cost $268.49 Unrealized +52.1%

NVDA NVIDIA CORPORATION 3.8%

Value $1.104B (-35.7%) Shares 6,331,620 (-31.2%) Est. Cost $101.03 Unrealized +84.7%

SNPS SYNOPSYS INC 1.0%

Value $302M (-61.2%) Shares 761,760 (-54.0%) Est. Cost $565.30 Unrealized -16.6%

NFLX NETFLIX INC. 2.3%

Value $663M (-34.9%) Shares 6,893,560 (-36.5%) Est. Cost $103.76 Unrealized -19.2%

NU NU HLDGS LTD 1.5%

Value $422M (-45.0%) Shares 29,333,576 (-35.9%) Est. Cost $8.97 Unrealized +93.3%

GOOG ALPHABET INC 1.1%

Value $320M (-49.0%) Shares 1,115,885 (-44.2%) Est. Cost $209.93 Unrealized +54.2%

AMAT APPLIED MATLS INC 6.2%

Value $1.794B (+16.6%) Shares 5,248,202 (-12.3%) Est. Cost $206.64 Unrealized +58.0%

NTRA NATERA INC 1.7%

Value $508M (-15.7%) Shares 2,541,842 (-3.5%) Est. Cost $205.33 Unrealized +10.0%

PYPL PAYPAL HLDGS INC 0.2%

Value $56.25M (-43.2%) Shares 1,243,590 (-26.7%) Est. Cost $64.17 Unrealized -22.0%

GEV GE VERNOVA INC 7.7%

Value $2.245B (+1.9%) Shares 2,572,358 (-23.7%) Est. Cost $163.28 Unrealized +351.3%

MTZ MASTEC INC 0.6%

Value $188M (+27.4%) Shares 583,597 (-13.9%) Est. Cost $209.86 Unrealized +19.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	2,480,017 (-52.0%)	$918M (-63.3%)	3.2%	$352.98	+23.1%	COM	594918104
APP	APPLOVIN CORP	1,290,008 (-41.0%)	$513M (-65.1%)	1.8%	$150.24	+237.5%	COM CL A	03831W108
DASH	DOORDASH INC	551,808 (-87.4%)	$82.85M (-91.6%)	0.3%	$192.50	+2.2%	CL A	25809K105
GOOGL	ALPHABET INC	4,313,426 (-37.0%)	$1.24B (-42.1%)	4.3%	$188.25	+71.7%	CAP STK CL A	02079K305
RDDT	REDDIT INC	2,789,891 (-49.7%)	$376M (-70.6%)	1.3%	$121.08	+56.6%	CL A	75734B100
META	META PLATFORMS INC	2,812,056 (-25.6%)	$1.609B (-35.6%)	5.5%	$227.85	+187.7%	CL A	30303M102
CEG	CONSTELLATION ENERGY CORP	4,632,475 (-21.6%)	$1.294B (-38.0%)	4.5%	$189.35	+59.0%	COM	21037T109
SPOT	SPOTIFY TECHNOLOGY S A	1,320,914 (-46.1%)	$641M (-55.0%)	2.2%	$492.88	+0.9%	SHS	L8681T102
TSLA	TESLA INC	58,838 (-96.4%)	$21.87M (-97.0%)	0.1%	$238.88	+78.3%	COM	88160R101
AMZN	AMAZON COM INC	7,930,766 (-20.2%)	$1.652B (-28.0%)	5.7%	$135.27	+67.7%	COM	023135106
CVNA	CARVANA CO	681,000 (-65.2%)	$214M (-74.1%)	0.7%	$268.49	+52.1%	CL A	146869102
NVDA	NVIDIA CORPORATION	6,331,620 (-31.2%)	$1.104B (-35.7%)	3.8%	$101.03	+84.7%	COM	67066G104
SNPS	SYNOPSYS INC	761,760 (-54.0%)	$302M (-61.2%)	1.0%	$565.30	-16.6%	COM	871607107
NFLX	NETFLIX INC.	6,893,560 (-36.5%)	$663M (-34.9%)	2.3%	$103.76	-19.2%	COM	64110L106
NU	NU HLDGS LTD	29,333,576 (-35.9%)	$422M (-45.0%)	1.5%	$8.97	+93.3%	ORD SHS CL A	G6683N103
GOOG	ALPHABET INC	1,115,885 (-44.2%)	$320M (-49.0%)	1.1%	$209.93	+54.2%	CAP STK CL C	02079K107
AMAT	APPLIED MATLS INC	5,248,202 (-12.3%)	$1.794B (+16.6%)	6.2%	$206.64	+58.0%	COM	038222105
NTRA	NATERA INC	2,541,842 (-3.5%)	$508M (-15.7%)	1.7%	$205.33	+10.0%	COM	632307104
PYPL	PAYPAL HLDGS INC	1,243,590 (-26.7%)	$56.25M (-43.2%)	0.2%	$64.17	-22.0%	COM	70450Y103
GEV	GE VERNOVA INC	2,572,358 (-23.7%)	$2.245B (+1.9%)	7.7%	$163.28	+351.3%	COM	36828A101
MTZ	MASTEC INC	583,597 (-13.9%)	$188M (+27.4%)	0.6%	$209.86	+19.2%	COM	576323109

Unchanged Positions (7)

AVGO BROADCOM INC 5.9%

Value $1.703B Shares 5,503,852 Est. Cost $180.86 Unrealized +84.8%

ETN EATON CORP PLC 5.8%

Value $1.698B Shares 4,748,498 Est. Cost $215.08 Unrealized +64.4%

CAI CARIS LIFE SCIENCES INC 0.6%

Value $176M Shares 9,819,992 Est. Cost $26.95 Unrealized -11.9%

CHYM CHIME FINL INC 0.6%

Value $189M Shares 10,071,992 Est. Cost $32.95 Unrealized -27.2%

FCNCA FIRST CTZNS BANCSHARES INC D 0.9%

Value $263M Shares 139,498 Est. Cost $1175.01 Unrealized +78.1%

MPT MEDICAL PROPERTIES TRUST INC 0.1%

Value $20.95M Shares 4,525,398 Est. Cost $4.94 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.0%

Value $2.583M Shares 67,226 Est. Cost $63.39 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	5,503,852	$1.703B	5.9%	$180.86	+84.8%	COM	11135F101
ETN	EATON CORP PLC	4,748,498	$1.698B	5.8%	$215.08	+64.4%	SHS	G29183103
CAI	CARIS LIFE SCIENCES INC	9,819,992	$176M	0.6%	$26.95	-11.9%	COM	142152107
CHYM	CHIME FINL INC	10,071,992	$189M	0.6%	$32.95	-27.2%	COM SHS CL A	16935C109
FCNCA	FIRST CTZNS BANCSHARES INC D	139,498	$263M	0.9%	$1175.01	+78.1%	CL A	31946M103
MPT	MEDICAL PROPERTIES TRUST INC	4,525,398	$20.95M	0.1%	$4.94	—	COM	58463J304
IBIT	ISHARES BITCOIN TRUST ETF	67,226	$2.583M	0.0%	$63.39	—	SHS BEN INT	46438F101