Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
NBIS	NEBIUS GROUP N.V.	4,464,260	$1.233B	6.1%	$276.17	—	—	CLASS ASHS	N97284108
STM	STMICROELECTRONICS	7,802,700	$584M	2.9%	$74.89	—	—	NY REGISTRY	861012102
KEEL	KEEL INFRASTRUCTURE CORP	26,451,393	$152M	0.8%	$5.74	—	—	SHSCOM	486917107
VSH	VISHAY INTERTECHNOLOGY INC	375,000	$20.17M	0.1%	$53.78	—	—	COM	928298108
CBRS	CEREBRAS SYSTEMS INC	10,000	$2.21M	0.0%	$221.00	—	—	COM CL A	15675D103

Increased Positions (11)

MU MICRON TECHNOLOGY INC 27.5%

Value $5.574B (+94925.9%) Shares 4,828,786 (+27712.4%) Share Price $1154.29 Est. Cost/Share — Unrealized @ Report Date —

SNDK SANDISK CORP 28.0%

Value $5.674B (+683.3%) Shares 2,495,344 (+118.9%) Share Price $2273.73 Est. Cost/Share — Unrealized @ Report Date —

TSM TAIWAN SEMICONDUCTOR MANUFAC 6.2%

Value $1.265B (+16594.7%) Shares 2,649,035 (+11713.9%) Share Price $477.57 Est. Cost/Share — Unrealized @ Report Date —

SHAZ SHARONAI HOLDINGS INC 2.3%

Value $457M (+2424.6%) Shares 5,396,127 (+577.8%) Share Price $84.66 Est. Cost/Share — Unrealized @ Report Date —

RIOT RIOT PLATFORMS INC 2.3%

Value $468M (+229.3%) Shares 17,100,000 (+48.7%) Share Price $27.38 Est. Cost/Share — Unrealized @ Report Date —

CRWV COREWEAVE INC 3.7%

Value $745M (+33.9%) Shares 7,479,558 (+4.2%) Share Price $99.54 Est. Cost/Share — Unrealized @ Report Date —

APLD APPLIED DIGITAL CORP 2.3%

Value $469M (+46.6%) Shares 15,384,616 (+14.1%) Share Price $30.49 Est. Cost/Share — Unrealized @ Report Date —

SEI SOLARIS ENERGY INFRAS INC 0.4%

Value $90.89M (+45.5%) Shares 1,129,621 (+2.2%) Share Price $80.46 Est. Cost/Share — Unrealized @ Report Date —

HIVE HIVE DIGITAL TECHNOLOGIES LT 0.2%

Value $33.25M (+415.9%) Shares 9,133,726 (+169.3%) Share Price $3.64 Est. Cost/Share — Unrealized @ Report Date —

PUMP PROPETRO HLDG CORP 0.1%

Value $28.11M (+114.3%) Shares 1,960,382 (+115.4%) Share Price $14.34 Est. Cost/Share — Unrealized @ Report Date —

BW BABCOCK & WILCOX ENTERPRISES 0.1%

Value $28.59M (+43.7%) Shares 2,027,451 (+49.7%) Share Price $14.10 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MU	MICRON TECHNOLOGY INC	4,828,786 (+27712.4%)	$5.574B (+94925.9%)	27.5%	$1154.29	—	—	COM	595112103
SNDK	SANDISK CORP	2,495,344 (+118.9%)	$5.674B (+683.3%)	28.0%	$2273.73	—	—	COM	80004C200
TSM	TAIWAN SEMICONDUCTOR MANUFAC	2,649,035 (+11713.9%)	$1.265B (+16594.7%)	6.2%	$477.57	—	—	SPONSORED ADS	874039100
SHAZ	SHARONAI HOLDINGS INC	5,396,127 (+577.8%)	$457M (+2424.6%)	2.3%	$84.66	—	—	COM CL A	778920306
RIOT	RIOT PLATFORMS INC	17,100,000 (+48.7%)	$468M (+229.3%)	2.3%	$27.38	—	—	COM	767292105
CRWV	COREWEAVE INC	7,479,558 (+4.2%)	$745M (+33.9%)	3.7%	$99.54	—	—	COM CL A	21873S108
APLD	APPLIED DIGITAL CORP	15,384,616 (+14.1%)	$469M (+46.6%)	2.3%	$30.49	—	—	COM NEW	038169207
SEI	SOLARIS ENERGY INFRAS INC	1,129,621 (+2.2%)	$90.89M (+45.5%)	0.4%	$80.46	—	—	COM CL A	83418M103
HIVE	HIVE DIGITAL TECHNOLOGIES LT	9,133,726 (+169.3%)	$33.25M (+415.9%)	0.2%	$3.64	—	—	COM NEW	433921103
PUMP	PROPETRO HLDG CORP	1,960,382 (+115.4%)	$28.11M (+114.3%)	0.1%	$14.34	—	—	COM	74347M108
BW	BABCOCK & WILCOX ENTERPRISES	2,027,451 (+49.7%)	$28.59M (+43.7%)	0.1%	$14.10	—	—	COM	05614L209

Exited Positions (21)

SMH VANECK ETF TRUST 10.1%

Value $2.043B Shares 5,327,900 Share Price $383.40 Est. Cost/Share — Unrealized @ Report Date —

NVDA NVIDIA CORPORATION 7.7%

Value $1.568B Shares 8,992,300 Share Price $174.40 Est. Cost/Share — Unrealized @ Report Date —

ORCL ORACLE CORP 5.3%

Value $1.073B Shares 7,293,000 Share Price $147.11 Est. Cost/Share — Unrealized @ Report Date —

AVGO BROADCOM INC 5.0%

Value $1.006B Shares 3,251,100 Share Price $309.51 Est. Cost/Share — Unrealized @ Report Date —

AMD ADVANCED MICRO DEVICES INC 4.8%

Value $969M Shares 4,764,100 Share Price $203.43 Est. Cost/Share — Unrealized @ Report Date —

MU MICRON TECHNOLOGY INC 2.9%

Value $584M Shares 1,727,700 Share Price $337.84 Est. Cost/Share — Unrealized @ Report Date —

TSM TAIWAN SEMICONDUCTOR MANUFAC 2.6%

Value $535M Shares 1,583,400 Share Price $337.95 Est. Cost/Share — Unrealized @ Report Date —

ASML ASML HLDG NV N Y REGISTRY 2.4%

Value $494M Shares 374,100 Share Price $1320.83 Est. Cost/Share — Unrealized @ Report Date —

MU MICRON TECHNOLOGY INC 2.1%

Value $422M Shares 1,250,000 Share Price $337.84 Est. Cost/Share — Unrealized @ Report Date —

SNDK SANDISK CORP 1.9%

Value $389M Shares 611,900 Share Price $635.34 Est. Cost/Share — Unrealized @ Report Date —

INTC INTEL CORP 0.8%

Value $159M Shares 3,605,400 Share Price $44.13 Est. Cost/Share — Unrealized @ Report Date —

CRWV COREWEAVE INC 0.7%

Value $141M Shares 1,814,500 Share Price $77.47 Est. Cost/Share — Unrealized @ Report Date —

BITF BITFARMS LTD 0.2%

Value $38.76M Shares 19,875,840 Share Price $1.95 Est. Cost/Share — Unrealized @ Report Date —

PSIX POWER SOLUTIONS INTL INC 0.1%

Value $26.32M Shares 432,300 Share Price $60.88 Est. Cost/Share — Unrealized @ Report Date —

GLW CORNING INC 0.1%

Value $21.02M Shares 154,600 Share Price $135.97 Est. Cost/Share — Unrealized @ Report Date —

AMD ADVANCED MICRO DEVICES INC 0.1%

Value $20.17M Shares 99,138 Share Price $203.43 Est. Cost/Share — Unrealized @ Report Date —

SMH VANECK ETF TRUST 0.1%

Value $10.33M Shares 26,950 Share Price $383.40 Est. Cost/Share — Unrealized @ Report Date —

INTC INTEL CORP 0.0%

Value $8.929M Shares 202,344 Share Price $44.13 Est. Cost/Share — Unrealized @ Report Date —

ASML ASML HLDG NV N Y REGISTRY 0.0%

Value $6.119M Shares 4,633 Share Price $1320.83 Est. Cost/Share — Unrealized @ Report Date —

GLW CORNING INC 0.0%

Value $718K Shares 5,283 Share Price $135.97 Est. Cost/Share — Unrealized @ Report Date —

NVDA NVIDIA CORPORATION 0.0%

Value $498K Shares 2,855 Share Price $174.40 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SMH	VANECK ETF TRUST	5,327,900	$2.043B	10.1%	$383.40	—	—	PUT	92189F676
NVDA	NVIDIA CORPORATION	8,992,300	$1.568B	7.7%	$174.40	—	—	PUT	67066G104
ORCL	ORACLE CORP	7,293,000	$1.073B	5.3%	$147.11	—	—	PUT	68389X105
AVGO	BROADCOM INC	3,251,100	$1.006B	5.0%	$309.51	—	—	PUT	11135F101
AMD	ADVANCED MICRO DEVICES INC	4,764,100	$969M	4.8%	$203.43	—	—	PUT	007903107
MU	MICRON TECHNOLOGY INC	1,727,700	$584M	2.9%	$337.84	—	—	PUT	595112103
TSM	TAIWAN SEMICONDUCTOR MANUFAC	1,583,400	$535M	2.6%	$337.95	—	—	PUT	874039100
ASML	ASML HLDG NV N Y REGISTRY	374,100	$494M	2.4%	$1320.83	—	—	PUT	N07059210
MU	MICRON TECHNOLOGY INC	1,250,000	$422M	2.1%	$337.84	—	—	CALL	595112103
SNDK	SANDISK CORP	611,900	$389M	1.9%	$635.34	—	—	CALL	80004C200
INTC	INTEL CORP	3,605,400	$159M	0.8%	$44.13	—	—	PUT	458140100
CRWV	COREWEAVE INC	1,814,500	$141M	0.7%	$77.47	—	—	CALL	21873S108
BITF	BITFARMS LTD	19,875,840	$38.76M	0.2%	$1.95	—	—	—	09173B107
PSIX	POWER SOLUTIONS INTL INC	432,300	$26.32M	0.1%	$60.88	—	—	—	73933G202
GLW	CORNING INC	154,600	$21.02M	0.1%	$135.97	—	—	PUT	219350105
AMD	ADVANCED MICRO DEVICES INC	99,138	$20.17M	0.1%	$203.43	—	—	—	007903107
SMH	VANECK ETF TRUST	26,950	$10.33M	0.1%	$383.40	—	—	—	92189F676
INTC	INTEL CORP	202,344	$8.929M	0.0%	$44.13	—	—	—	458140100
ASML	ASML HLDG NV N Y REGISTRY	4,633	$6.119M	0.0%	$1320.83	—	—	—	N07059210
GLW	CORNING INC	5,283	$718K	0.0%	$135.97	—	—	—	219350105
NVDA	NVIDIA CORPORATION	2,855	$498K	0.0%	$174.40	—	—	—	67066G104

Decreased Positions (5)

BE BLOOM ENERGY CORP 9.4%

Value $1.899B (+116.1%) Shares 6,272,808 (-3.3%) Share Price $302.70 Est. Cost/Share — Unrealized @ Report Date —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.1%

Value $23.88M (-93.3%) Shares 50,000 (-95.2%) Share Price $477.57 Est. Cost/Share — Unrealized @ Report Date —

IREN IREN LIMITED 2.1%

Value $433M (+8.0%) Shares 9,474,099 (-19.0%) Share Price $45.73 Est. Cost/Share — Unrealized @ Report Date —

BE BLOOM ENERGY CORP 0.2%

Value $44.13M (-20.3%) Shares 145,800 (-64.3%) Share Price $302.70 Est. Cost/Share — Unrealized @ Report Date —

TE T1 ENERGY INC 0.2%

Value $46.45M (+5.8%) Shares 4,900,000 (-51.0%) Share Price $9.48 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BE	BLOOM ENERGY CORP	6,272,808 (-3.3%)	$1.899B (+116.1%)	9.4%	$302.70	—	—	COM CL A	093712107
TSM	TAIWAN SEMICONDUCTOR MANUFAC	50,000 (-95.2%)	$23.88M (-93.3%)	0.1%	$477.57	—	—	CALL	874039100
IREN	IREN LIMITED	9,474,099 (-19.0%)	$433M (+8.0%)	2.1%	$45.73	—	—	ORDINARY SHARES	Q4982L109
BE	BLOOM ENERGY CORP	145,800 (-64.3%)	$44.13M (-20.3%)	0.2%	$302.70	—	—	CALL	093712107
TE	T1 ENERGY INC	4,900,000 (-51.0%)	$46.45M (+5.8%)	0.2%	$9.48	—	—	COM NEW	35834F104

Unchanged Positions (5)

CORZ CORE SCIENTIFIC INC NEW 3.3%

Value $666M Shares 26,008,473 Share Price $25.59 Est. Cost/Share — Unrealized @ Report Date —

CLSK CLEANSPARK INC 0.9%

Value $179M Shares 12,276,139 Share Price $14.55 Est. Cost/Share — Unrealized @ Report Date —

WYFI WHITEFIBER INC 0.3%

Value $68.28M Shares 1,757,600 Share Price $38.85 Est. Cost/Share — Unrealized @ Report Date —

BTDR BITDEER TECHNOLOGIES GROUP 0.3%

Value $54.58M Shares 3,439,450 Share Price $15.87 Est. Cost/Share — Unrealized @ Report Date —

INFY INFOSYS LTD 0.0%

Value $5.245M Shares 500,000 Share Price $10.49 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CORZ	CORE SCIENTIFIC INC NEW	26,008,473	$666M	3.3%	$25.59	—	—	COM	21874A106
CLSK	CLEANSPARK INC	12,276,139	$179M	0.9%	$14.55	—	—	COM NEW	18452B209
WYFI	WHITEFIBER INC	1,757,600	$68.28M	0.3%	$38.85	—	—	SHS	G96115103
BTDR	BITDEER TECHNOLOGIES GROUP	3,439,450	$54.58M	0.3%	$15.87	—	—	CL A ORD SHS	G11448100
INFY	INFOSYS LTD	500,000	$5.245M	0.0%	$10.49	—	—	PUT	456788108