Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CBRS	CEREBRAS SYSTEMS INC	2,999,000	$663M	2.8%	—	—	COM CL A	15675D103
AMD	ADVANCED MICRO DEVICES INC	674,727	$392M	1.6%	—	—	COM	007903107
STX	SEAGATE TECHNOLOGY HLDNGS PL	285,100	$275M	1.1%	—	—	ORD SHS	G7997R103
V	VISA INC	798,697	$274M	1.1%	—	—	COM CL A	92826C839
DHR	DANAHER CORP DEL	456,000	$86.86M	0.4%	—	—	COM	235851102
SPCX	SPACE EXPLORATION TECHN CORP	375,000	$64.07M	0.3%	—	—	CLASS A COM STK	84615Q103
APLD	APPLIED DIGITAL CORP	885,000	$33.01M	0.1%	—	—	COM NEW	038169207
CIFR	CIPHER DIGITAL INC	927,000	$22.71M	0.1%	—	—	COM	17253J106
CORZ	CORE SCIENTIFIC INC NEW	817,000	$20.91M	0.1%	—	—	COM	21874A106

Increased Positions (6)

INTC INTEL CORP 2.5%

Value $594M (+721.1%) Shares 4,252,690 (+159.5%) Est. Cost — Unrealized —

CPAY CORPAY INC 3.0%

Value $716M (+40.5%) Shares 2,149,877 (+22.7%) Est. Cost — Unrealized —

XYZ BLOCK INC 1.5%

Value $348M (+44.5%) Shares 4,576,007 (+14.4%) Est. Cost — Unrealized —

RDDT REDDIT INC 1.8%

Value $439M (+30.4%) Shares 2,528,819 (+1.2%) Est. Cost — Unrealized —

MELI MERCADOLIBRE INC 1.1%

Value $260M (+11.3%) Shares 153,126 (+13.4%) Est. Cost — Unrealized —

CPNG COUPANG INC 2.6%

Value $633M (-3.0%) Shares 36,467,972 (+5.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INTC	INTEL CORP	4,252,690 (+159.5%)	$594M (+721.1%)	2.5%	—	—	COM	458140100
CPAY	CORPAY INC	2,149,877 (+22.7%)	$716M (+40.5%)	3.0%	—	—	COM SHS	219948106
XYZ	BLOCK INC	4,576,007 (+14.4%)	$348M (+44.5%)	1.5%	—	—	CL A	852234103
RDDT	REDDIT INC	2,528,819 (+1.2%)	$439M (+30.4%)	1.8%	—	—	CL A	75734B100
MELI	MERCADOLIBRE INC	153,126 (+13.4%)	$260M (+11.3%)	1.1%	—	—	COM	58733R102
CPNG	COUPANG INC	36,467,972 (+5.4%)	$633M (-3.0%)	2.6%	—	—	CL A	22266T109

Exited Positions (17)

APP APPLOVIN CORP 1.7%

Value $398M Shares 1,000,000 Est. Cost — Unrealized —

Z ZILLOW GROUP INC 1.3%

Value $305M Shares 7,368,957 Est. Cost — Unrealized —

NFLX NETFLIX INC. 1.0%

Value $235M Shares 2,439,000 Est. Cost — Unrealized —

ZS ZSCALER INC 0.9%

Value $222M Shares 1,579,766 Est. Cost — Unrealized —

PCOR PROCORE TECHNOLOGIES INC 0.6%

Value $133M Shares 2,339,500 Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 0.4%

Value $96.14M Shares 136,800 Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.3%

Value $60.51M Shares 1,500,000 Est. Cost — Unrealized —

ZG ZILLOW GROUP INC 0.2%

Value $42.37M Shares 1,023,733 Est. Cost — Unrealized —

RVI ROBINHOOD VENTURES FD I 0.0%

Value $10.62M Shares 400,000 Est. Cost — Unrealized —

PAYP PAYPAY CORP 0.0%

Value $8.536M Shares 400,000 Est. Cost — Unrealized —

FIGR FIGURE TECHNOLOGY SOLUTIO 0.0%

Value $6.79M Shares 200,000 Est. Cost — Unrealized —

NTSK NETSKOPE INC 0.0%

Value $4.245M Shares 500,000 Est. Cost — Unrealized —

XNDU XANADU QUANTUM TECHNOLO LTD 0.0%

Value $3.83M Shares 500,000 Est. Cost — Unrealized —

BLSH BULLISH 0.0%

Value $3.573M Shares 100,000 Est. Cost — Unrealized —

ETOR ETORO GROUP LTD 0.0%

Value $2.402M Shares 80,000 Est. Cost — Unrealized —

KLAR KLARNA GROUP PLC 0.0%

Value $2.291M Shares 175,000 Est. Cost — Unrealized —

FIG FIGMA INC 0.0%

Value $1.268M Shares 60,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
APP	APPLOVIN CORP	1,000,000	$398M	1.7%	—	—	—	03831W108
Z	ZILLOW GROUP INC	7,368,957	$305M	1.3%	—	—	—	98954M200
NFLX	NETFLIX INC.	2,439,000	$235M	1.0%	—	—	—	64110L106
ZS	ZSCALER INC	1,579,766	$222M	0.9%	—	—	—	98980G102
PCOR	PROCORE TECHNOLOGIES INC	2,339,500	$133M	0.6%	—	—	—	74275K108
LITE	LUMENTUM HLDGS INC	136,800	$96.14M	0.4%	—	—	—	55024U109
CSGP	COSTAR GROUP INC	1,500,000	$60.51M	0.3%	—	—	—	22160N109
ZG	ZILLOW GROUP INC	1,023,733	$42.37M	0.2%	—	—	—	98954M101
RVI	ROBINHOOD VENTURES FD I	400,000	$10.62M	0.0%	—	—	—	770701100
PAYP	PAYPAY CORP	400,000	$8.536M	0.0%	—	—	—	70450C101
FIGR	FIGURE TECHNOLOGY SOLUTIO	200,000	$6.79M	0.0%	—	—	—	349381103
NTSK	NETSKOPE INC	500,000	$4.245M	0.0%	—	—	—	64119N608
XNDU	XANADU QUANTUM TECHNOLO LTD	500,000	$3.83M	0.0%	—	—	—	98390R102
BLSH	BULLISH	100,000	$3.573M	0.0%	—	—	—	G16910120
ETOR	ETORO GROUP LTD	80,000	$2.402M	0.0%	—	—	—	G32089107
KLAR	KLARNA GROUP PLC	175,000	$2.291M	0.0%	—	—	—	G5279N105
FIG	FIGMA INC	60,000	$1.268M	0.0%	—	—	—	316841105

Decreased Positions (20)

GOOGL ALPHABET INC 8.7%

Value $2.075B (-32.1%) Shares 5,805,687 (-45.4%) Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 4.9%

Value $1.18B (+108.4%) Shares 1,632,210 (-1.5%) Est. Cost — Unrealized —

LRCX LAM RESEARCH CORP 5.7%

Value $1.371B (+64.5%) Shares 3,163,495 (-18.9%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 9.7%

Value $2.331B (+23.9%) Shares 4,881,008 (-12.3%) Est. Cost — Unrealized —

AVGO BROADCOM INC 2.8%

Value $663M (-40.3%) Shares 1,754,062 (-51.1%) Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 2.2%

Value $538M (-29.8%) Shares 1,171,427 (-25.9%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 9.6%

Value $2.308B (+10.8%) Shares 9,683,558 (-3.2%) Est. Cost — Unrealized —

META META PLATFORMS INC 6.6%

Value $1.59B (-10.0%) Shares 2,823,180 (-8.5%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 9.3%

Value $2.241B (+7.0%) Shares 11,198,773 (-6.8%) Est. Cost — Unrealized —

CHYM CHIME FINL INC 0.5%

Value $108M (-47.9%) Shares 5,284,045 (-52.3%) Est. Cost — Unrealized —

GEV GE VERNOVA INC 3.9%

Value $937M (+10.3%) Shares 797,511 (-18.0%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 3.5%

Value $846M (-8.6%) Shares 2,266,913 (-9.3%) Est. Cost — Unrealized —

SE SEA LTD 5.0%

Value $1.204B (-5.7%) Shares 12,559,152 (-18.5%) Est. Cost — Unrealized —

NOW SERVICENOW INC 0.4%

Value $86.72M (-44.7%) Shares 873,485 (-41.8%) Est. Cost — Unrealized —

TTWO TAKE-TWO INTERACTIVE SOFTWAR 1.9%

Value $452M (+14.5%) Shares 1,809,348 (-9.5%) Est. Cost — Unrealized —

APO APOLLO GLOBAL MGMT INC 1.3%

Value $322M (-12.2%) Shares 2,723,110 (-17.3%) Est. Cost — Unrealized —

UNH UNITEDHEALTH GROUP INC 0.5%

Value $124M (+30.4%) Shares 297,452 (-15.1%) Est. Cost — Unrealized —

PONY PONY AI INC 0.0%

Value $2.156M (-92.1%) Shares 310,287 (-89.3%) Est. Cost — Unrealized —

FWONK LIBERTY MEDIA CORP DEL 0.9%

Value $217M (-4.9%) Shares 2,278,555 (-15.0%) Est. Cost — Unrealized —

JD JD.COM INC 0.0%

Value $5.134M (-49.6%) Shares 201,500 (-41.5%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	5,805,687 (-45.4%)	$2.075B (-32.1%)	8.7%	—	—	CAP STK CL A	02079K305
AMAT	APPLIED MATLS INC	1,632,210 (-1.5%)	$1.18B (+108.4%)	4.9%	—	—	COM	038222105
LRCX	LAM RESEARCH CORP	3,163,495 (-18.9%)	$1.371B (+64.5%)	5.7%	—	—	COM NEW	512807306
TSM	TAIWAN SEMICONDUCTOR MANUFAC	4,881,008 (-12.3%)	$2.331B (+23.9%)	9.7%	—	—	SPONSORED ADS	874039100
AVGO	BROADCOM INC	1,754,062 (-51.1%)	$663M (-40.3%)	2.8%	—	—	COM	11135F101
SPOT	SPOTIFY TECHNOLOGY S A	1,171,427 (-25.9%)	$538M (-29.8%)	2.2%	—	—	SHS	L8681T102
AMZN	AMAZON COM INC	9,683,558 (-3.2%)	$2.308B (+10.8%)	9.6%	—	—	COM	023135106
META	META PLATFORMS INC	2,823,180 (-8.5%)	$1.59B (-10.0%)	6.6%	—	—	CL A	30303M102
NVDA	NVIDIA CORPORATION	11,198,773 (-6.8%)	$2.241B (+7.0%)	9.3%	—	—	COM	67066G104
CHYM	CHIME FINL INC	5,284,045 (-52.3%)	$108M (-47.9%)	0.5%	—	—	COM SHS CL A	16935C109
GEV	GE VERNOVA INC	797,511 (-18.0%)	$937M (+10.3%)	3.9%	—	—	COM	36828A101
MSFT	MICROSOFT CORP	2,266,913 (-9.3%)	$846M (-8.6%)	3.5%	—	—	COM	594918104
SE	SEA LTD	12,559,152 (-18.5%)	$1.204B (-5.7%)	5.0%	—	—	SPONSORD ADS	81141R100
NOW	SERVICENOW INC	873,485 (-41.8%)	$86.72M (-44.7%)	0.4%	—	—	COM	81762P102
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	1,809,348 (-9.5%)	$452M (+14.5%)	1.9%	—	—	COM	874054109
APO	APOLLO GLOBAL MGMT INC	2,723,110 (-17.3%)	$322M (-12.2%)	1.3%	—	—	COM	03769M106
UNH	UNITEDHEALTH GROUP INC	297,452 (-15.1%)	$124M (+30.4%)	0.5%	—	—	COM	91324P102
PONY	PONY AI INC	310,287 (-89.3%)	$2.156M (-92.1%)	0.0%	—	—	SPONSORED ADS	732908108
FWONK	LIBERTY MEDIA CORP DEL	2,278,555 (-15.0%)	$217M (-4.9%)	0.9%	—	—	COM LBTY ONE S C	531229755
JD	JD.COM INC	201,500 (-41.5%)	$5.134M (-49.6%)	0.0%	—	—	SPON ADS CL A	47215P106

Unchanged Positions (11)

BULL WEBULL CORP 0.2%

Value $43.84M Shares 6,724,137 Est. Cost — Unrealized —

NU NU HLDGS LTD 0.6%

Value $147M Shares 11,032,555 Est. Cost — Unrealized —

RERE ATRENEW INC 0.2%

Value $38.05M Shares 9,831,218 Est. Cost — Unrealized —

SHW SHERWIN WILLIAMS CO 0.4%

Value $88.52M Shares 257,083 Est. Cost — Unrealized —

WLTH WEALTHFRONT CORP 0.6%

Value $136M Shares 15,156,877 Est. Cost — Unrealized —

EQPT EQUIPMENTSHARE COM INC 0.4%

Value $90.04M Shares 4,579,646 Est. Cost — Unrealized —

DASH DOORDASH INC 0.0%

Value $4.675M Shares 25,337 Est. Cost — Unrealized —

ARX ACCELERANT HOLDINGS 0.0%

Value $879K Shares 75,000 Est. Cost — Unrealized —

UBER UBER TECHNOLOGIES INC 0.0%

Value $10.91M Shares 151,178 Est. Cost — Unrealized —

GEMI GEMINI SPACE STA INC 0.0%

Value $298K Shares 70,000 Est. Cost — Unrealized —

MNTN MNTN INC 0.0%

Value $184K Shares 20,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BULL	WEBULL CORP	6,724,137	$43.84M	0.2%	—	—	ORD SHS	G9572D103
NU	NU HLDGS LTD	11,032,555	$147M	0.6%	—	—	ORD SHS CL A	G6683N103
RERE	ATRENEW INC	9,831,218	$38.05M	0.2%	—	—	SPONSORED ADS	00138L108
SHW	SHERWIN WILLIAMS CO	257,083	$88.52M	0.4%	—	—	COM	824348106
WLTH	WEALTHFRONT CORP	15,156,877	$136M	0.6%	—	—	COM	947002101
EQPT	EQUIPMENTSHARE COM INC	4,579,646	$90.04M	0.4%	—	—	COM CL A	29445S100
DASH	DOORDASH INC	25,337	$4.675M	0.0%	—	—	CL A	25809K105
ARX	ACCELERANT HOLDINGS	75,000	$879K	0.0%	—	—	CL A	G00894108
UBER	UBER TECHNOLOGIES INC	151,178	$10.91M	0.0%	—	—	COM	90353T100
GEMI	GEMINI SPACE STA INC	70,000	$298K	0.0%	—	—	CL A COM	36866J105
MNTN	MNTN INC	20,000	$184K	0.0%	—	—	CL A	55318A108