Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	625,000	$130M	7.5%	$133.15	+70.4%	CALL	023135106
APO	APOLLO GLOBAL MGMT INC	430,000	$47.91M	2.8%	—	—	PUT	03769M106
CG	CARLYLE GROUP INC	800,000	$38.71M	2.2%	—	—	PUT	14316J108
ARES	ARES MANAGEMENT CORPORATION	175,000	$19.09M	1.1%	—	—	PUT	03990B101
FPS	FORGENT POWER SOLUTIONS INC	100,000	$2.927M	0.2%	$29.27	—	COM SHS CL A	34631F102

Increased Positions (9)

SPY SPDR S&P 500 ETF TR 12.9%

Value $225M (+39.2%) Shares 346,326 (+45.9%) Est. Cost $617.32 Unrealized —

IWM ISHARES TR 12.9%

Value $225M (+39.1%) Shares 907,801 (+38.1%) Est. Cost $224.93 Unrealized —

CORZ CORE SCIENTIFIC INC NEW 5.5%

Value $95.86M (+71.9%) Shares 6,407,700 (+67.3%) Est. Cost $9.56 Unrealized +85.2%

SEI SOLARIS ENERGY INFRAS INC 3.6%

Value $63.26M (+87.4%) Shares 1,119,503 (+52.4%) Est. Cost $49.92 Unrealized +6.2%

PUMP PROPETRO HLDG CORP 3.3%

Value $58.26M (+67.0%) Shares 4,042,993 (+10.2%) Est. Cost $8.89 Unrealized +22.1%

CORZ CORE SCIENTIFIC INC NEW 5.9%

Value $102M (+11.1%) Shares 6,851,325 (+8.1%) Est. Cost $9.56 Unrealized +85.2%

RH RH 2.4%

Value $42.12M (+28.7%) Shares 301,276 (+64.8%) Est. Cost $190.93 Unrealized +9.0%

Z ZILLOW GROUP INC 1.1%

Value $19.59M (-9.8%) Shares 473,329 (+48.6%) Est. Cost $49.18 Unrealized +19.5%

PSIX POWER SOLUTIONS INTL INC 0.2%

Value $4.224M (+83.0%) Shares 69,388 (+71.7%) Est. Cost $51.20 Unrealized +53.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	346,326 (+45.9%)	$225M (+39.2%)	12.9%	$617.32	—	TR UNIT	78462F103
IWM	ISHARES TR	907,801 (+38.1%)	$225M (+39.1%)	12.9%	$224.93	—	RUSSELL 2000 ETF	464287655
CORZ	CORE SCIENTIFIC INC NEW	6,407,700 (+67.3%)	$95.86M (+71.9%)	5.5%	$9.56	+85.2%	CALL	21874A106
SEI	SOLARIS ENERGY INFRAS INC	1,119,503 (+52.4%)	$63.26M (+87.4%)	3.6%	$49.92	+6.2%	COM CL A	83418M103
PUMP	PROPETRO HLDG CORP	4,042,993 (+10.2%)	$58.26M (+67.0%)	3.3%	$8.89	+22.1%	COM	74347M108
CORZ	CORE SCIENTIFIC INC NEW	6,851,325 (+8.1%)	$102M (+11.1%)	5.9%	$9.56	+85.2%	COM	21874A106
RH	RH	301,276 (+64.8%)	$42.12M (+28.7%)	2.4%	$190.93	+9.0%	COM	74967X103
Z	ZILLOW GROUP INC	473,329 (+48.6%)	$19.59M (-9.8%)	1.1%	$49.18	+19.5%	CL C CAP STK	98954M200
PSIX	POWER SOLUTIONS INTL INC	69,388 (+71.7%)	$4.224M (+83.0%)	0.2%	$51.20	+53.5%	COM NEW	73933G202

Exited Positions (4)

QQQ INVESCO QQQ TR 19.8%

Value $344M Shares 560,000 Est. Cost — Unrealized —

GLD SPDR GOLD TR 2.4%

Value $42.05M Shares 106,100 Est. Cost — Unrealized —

VST VISTRA CORP 1.7%

Value $28.87M Shares 178,927 Est. Cost $102.63 Unrealized +59.0%

NFLX NETFLIX INC 1.0%

Value $17.43M Shares 185,880 Est. Cost $100.64 Unrealized -16.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	560,000	$344M	19.8%	—	—	PUT	46090E103
GLD	SPDR GOLD TR	106,100	$42.05M	2.4%	—	—	CALL	78463V107
VST	VISTRA CORP	178,927	$28.87M	1.7%	$102.63	+59.0%	—	92840M102
NFLX	NETFLIX INC	185,880	$17.43M	1.0%	$100.64	-16.7%	—	64110L106

Decreased Positions (18)

GEV GE VERNOVA INC 4.7%

Value $82.54M (+24.3%) Shares 94,557 (-7.0%) Est. Cost $253.01 Unrealized +191.3%

HDB HDFC BANK LTD 1.5%

Value $25.53M (-37.7%) Shares 1,026,232 (-8.5%) Est. Cost $53.20 Unrealized —

MSFT MICROSOFT CORP 1.4%

Value $24.58M (-30.0%) Shares 66,415 (-8.6%) Est. Cost $275.73 Unrealized +57.6%

TTWO TAKE-TWO INTERACTIVE SOFTWAR 1.4%

Value $24.11M (-29.4%) Shares 122,095 (-8.5%) Est. Cost $158.07 Unrealized +42.3%

AGX ARGAN INC 1.9%

Value $32.27M (-23.3%) Shares 59,243 (-55.9%) Est. Cost $123.95 Unrealized +199.0%

AVGO BROADCOM INC 2.3%

Value $39.18M (-18.4%) Shares 126,602 (-8.8%) Est. Cost $163.21 Unrealized +104.7%

CRM SALESFORCE INC 0.9%

Value $15.93M (-35.6%) Shares 85,336 (-8.6%) Est. Cost $214.69 Unrealized +0.5%

GRDN GUARDIAN PHARMACY SVCS INC 2.6%

Value $44.69M (+20.5%) Shares 1,186,658 (-3.7%) Est. Cost $24.44 Unrealized +28.9%

PWR QUANTA SVCS INC 2.1%

Value $35.94M (+21.0%) Shares 65,461 (-7.0%) Est. Cost $300.93 Unrealized +61.6%

LLY ELI LILLY & CO 1.3%

Value $22.34M (-21.6%) Shares 24,286 (-8.4%) Est. Cost $673.42 Unrealized +55.5%

CRDO CREDO TECHNOLOGY GROUP HOLDI 0.5%

Value $8.763M (-40.2%) Shares 93,353 (-8.3%) Est. Cost $20.94 Unrealized +527.3%

CRWD CROWDSTRIKE HLDGS INC 1.0%

Value $17.4M (-23.9%) Shares 44,576 (-8.6%) Est. Cost $152.18 Unrealized +183.3%

NOW SERVICENOW INC 0.5%

Value $8.664M (-37.6%) Shares 82,866 (-8.6%) Est. Cost $154.81 Unrealized -21.7%

WLDN WILLDAN GROUP INC 0.6%

Value $10.97M (-30.6%) Shares 143,331 (-6.0%) Est. Cost $42.90 Unrealized +181.5%

TKO TKO GROUP HOLDINGS INC 2.1%

Value $36.32M (-11.7%) Shares 180,117 (-8.5%) Est. Cost $94.79 Unrealized +116.9%

NVDA NVIDIA CORPORATION 1.3%

Value $22.6M (-14.7%) Shares 129,579 (-8.7%) Est. Cost $91.49 Unrealized +104.0%

TSM TAIWAN SEMICONDUCTOR MANUFAC 7.9%

Value $138M (+1.6%) Shares 409,300 (-8.7%) Est. Cost — Unrealized —

GDX VANECK ETF TRUST 2.2%

Value $39.02M (-2.0%) Shares 425,204 (-8.4%) Est. Cost $31.58 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GEV	GE VERNOVA INC	94,557 (-7.0%)	$82.54M (+24.3%)	4.7%	$253.01	+191.3%	COM	36828A101
HDB	HDFC BANK LTD	1,026,232 (-8.5%)	$25.53M (-37.7%)	1.5%	$53.20	—	SPONSORED ADS	40415F101
MSFT	MICROSOFT CORP	66,415 (-8.6%)	$24.58M (-30.0%)	1.4%	$275.73	+57.6%	COM	594918104
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	122,095 (-8.5%)	$24.11M (-29.4%)	1.4%	$158.07	+42.3%	COM	874054109
AGX	ARGAN INC	59,243 (-55.9%)	$32.27M (-23.3%)	1.9%	$123.95	+199.0%	COM	04010E109
AVGO	BROADCOM INC	126,602 (-8.8%)	$39.18M (-18.4%)	2.3%	$163.21	+104.7%	COM	11135F101
CRM	SALESFORCE INC	85,336 (-8.6%)	$15.93M (-35.6%)	0.9%	$214.69	+0.5%	COM	79466L302
GRDN	GUARDIAN PHARMACY SVCS INC	1,186,658 (-3.7%)	$44.69M (+20.5%)	2.6%	$24.44	+28.9%	CL A	40145W101
PWR	QUANTA SVCS INC	65,461 (-7.0%)	$35.94M (+21.0%)	2.1%	$300.93	+61.6%	COM	74762E102
LLY	ELI LILLY & CO	24,286 (-8.4%)	$22.34M (-21.6%)	1.3%	$673.42	+55.5%	COM	532457108
CRDO	CREDO TECHNOLOGY GROUP HOLDI	93,353 (-8.3%)	$8.763M (-40.2%)	0.5%	$20.94	+527.3%	ORDINARY SHARES	G25457105
CRWD	CROWDSTRIKE HLDGS INC	44,576 (-8.6%)	$17.4M (-23.9%)	1.0%	$152.18	+183.3%	CL A	22788C105
NOW	SERVICENOW INC	82,866 (-8.6%)	$8.664M (-37.6%)	0.5%	$154.81	-21.7%	COM	81762P102
WLDN	WILLDAN GROUP INC	143,331 (-6.0%)	$10.97M (-30.6%)	0.6%	$42.90	+181.5%	COM	96924N100
TKO	TKO GROUP HOLDINGS INC	180,117 (-8.5%)	$36.32M (-11.7%)	2.1%	$94.79	+116.9%	CL A	87256C101
NVDA	NVIDIA CORPORATION	129,579 (-8.7%)	$22.6M (-14.7%)	1.3%	$91.49	+104.0%	COM	67066G104
TSM	TAIWAN SEMICONDUCTOR MANUFAC	409,300 (-8.7%)	$138M (+1.6%)	7.9%	—	—	CALL	874039100
GDX	VANECK ETF TRUST	425,204 (-8.4%)	$39.02M (-2.0%)	2.2%	$31.58	—	GOLD MINERS ETF	92189F106

Unchanged Positions (2)

AMZN AMAZON COM INC 1.9%

Value $32.37M Shares 155,404 Est. Cost $133.15 Unrealized +70.4%

UBER UBER TECHNOLOGIES INC 0.2%

Value $4.277M Shares 59,464 Est. Cost $37.84 Unrealized +108.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	155,404	$32.37M	1.9%	$133.15	+70.4%	COM	023135106
UBER	UBER TECHNOLOGIES INC	59,464	$4.277M	0.2%	$37.84	+108.0%	COM	90353T100