Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WBD	WARNER BROS DISCOVERY INC	20,000,000	$533M	11.4%	—	—	COM SER A	934423104
KEYS	KEYSIGHT TECHNOLOGIES INC	585,000	$205M	4.4%	—	—	COM	49338L103
XYZ	BLOCK INC	2,558,943	$194M	4.2%	—	—	CL A	852234103
FLEX	FLEX LTD	1,030,000	$167M	3.6%	—	—	ORD	Y2573F102
TTMI	TTM TECHNOLOGIES INC	505,000	$94.45M	2.0%	—	—	COM	87305R109
PFGC	PERFORMANCE FOOD GROUP CO	675,000	$75.46M	1.6%	—	—	COM	71377A103
—	ALPHABET INC	1,300,000	$66.16M	1.4%	—	—	DEP SHS RP1/20 A	02079K404
SYY	SYSCO CORP	580,000	$48.16M	1.0%	—	—	COM	871829107
ARES	ARES MANAGEMENT CORPORATION	375,000	$41.74M	0.9%	—	—	CL A COM STK	03990B101
SPCX	SPACE EXPLORATION TECHN CORP	180,415	$30.83M	0.7%	—	—	CLASS A COM STK	84615Q103
SPY	STATE STR SPDR S&P 500 ETF T	40,000	$28.8M	0.6%	—	—	PUT	78462F103
—	ALPHABET INC	200,000	$10.06M	0.2%	—	—	DEP SHS RP1/20 B	02079K602
—	RIOT PLATFORMS INC	3,500,000	$7.034M	0.2%	—	—	NOTE 0.750% 1/1	767292AB1
BLCO	BAUSCH PLUS LOMB CORP	85,000	$1.408M	0.0%	—	—	COMMON SHARES	071705107
CORZ	CORE SCIENTIFIC INC NEW	54,000	$1.382M	0.0%	—	—	COM	21874A106
EROC	EROCK INC	83,030	$1.204M	0.0%	—	—	CL A COM	296013105
APLD	APPLIED DIGITAL CORP	22,000	$821K	0.0%	—	—	COM NEW	038169207
—	LITHIUM ARGENTINA AG	625,000	$612K	0.0%	—	—	NOTE 1.750% 1/1	53680QAA6
WOLF	WOLFSPEED INC	10,000	$483K	0.0%	—	—	COMMON STOCK	97785W106

Increased Positions (13)

GOOGL ALPHABET INC 7.8%

Value $366M (+627.9%) Shares 1,025,000 (+485.7%) Est. Cost — Unrealized —

NSC NORFOLK SOUTHN CORP 4.0%

Value $189M (+557.7%) Shares 600,000 (+500.0%) Est. Cost — Unrealized —

COF CAPITAL ONE FINL CORP 3.5%

Value $166M (+548.0%) Shares 825,000 (+489.3%) Est. Cost — Unrealized —

LYV LIVE NATION ENTERTAINMENT IN 4.4%

Value $208M (+193.1%) Shares 1,135,000 (+144.1%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 4.7%

Value $220M (+136.4%) Shares 460,000 (+67.3%) Est. Cost — Unrealized —

HUT HUT 8 CORP 3.2%

Value $152M (+272.2%) Shares 1,315,000 (+51.2%) Est. Cost — Unrealized —

TDG TRANSDIGM GROUP INC 2.2%

Value $105M (+263.2%) Shares 79,000 (+216.0%) Est. Cost — Unrealized —

UNP UNION PAC CORP 2.0%

Value $95.2M (+292.4%) Shares 350,000 (+250.0%) Est. Cost — Unrealized —

ASML ASML HLDG NV 1.3%

Value $59.61M (+276.1%) Shares 30,000 (+150.0%) Est. Cost — Unrealized —

APG API GROUP CORP 2.6%

Value $121M (+47.5%) Shares 2,865,000 (+41.1%) Est. Cost — Unrealized —

CRH CRH PLC 5.0%

Value $235M (+17.6%) Shares 2,195,000 (+15.5%) Est. Cost — Unrealized —

SGI SOMNIGROUP INTERNATIONAL INC 4.3%

Value $202M (+20.1%) Shares 2,570,769 (+13.2%) Est. Cost — Unrealized —

DHR DANAHER CORP DEL 2.2%

Value $103M (+3.3%) Shares 540,000 (+2.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	1,025,000 (+485.7%)	$366M (+627.9%)	7.8%	—	—	CAP STK CL A	02079K305
NSC	NORFOLK SOUTHN CORP	600,000 (+500.0%)	$189M (+557.7%)	4.0%	—	—	COM	655844108
COF	CAPITAL ONE FINL CORP	825,000 (+489.3%)	$166M (+548.0%)	3.5%	—	—	COM	14040H105
LYV	LIVE NATION ENTERTAINMENT IN	1,135,000 (+144.1%)	$208M (+193.1%)	4.4%	—	—	COM	538034109
TSM	TAIWAN SEMICONDUCTOR MANUFAC	460,000 (+67.3%)	$220M (+136.4%)	4.7%	—	—	SPONSORED ADS	874039100
HUT	HUT 8 CORP	1,315,000 (+51.2%)	$152M (+272.2%)	3.2%	—	—	COM	44812J104
TDG	TRANSDIGM GROUP INC	79,000 (+216.0%)	$105M (+263.2%)	2.2%	—	—	COM	893641100
UNP	UNION PAC CORP	350,000 (+250.0%)	$95.2M (+292.4%)	2.0%	—	—	COM	907818108
ASML	ASML HLDG NV	30,000 (+150.0%)	$59.61M (+276.1%)	1.3%	—	—	N Y REGISTRY SHS	N07059210
APG	API GROUP CORP	2,865,000 (+41.1%)	$121M (+47.5%)	2.6%	—	—	COM STK	00187Y100
CRH	CRH PLC	2,195,000 (+15.5%)	$235M (+17.6%)	5.0%	—	—	ORD	G25508105
SGI	SOMNIGROUP INTERNATIONAL INC	2,570,769 (+13.2%)	$202M (+20.1%)	4.3%	—	—	COM	88023U101
DHR	DANAHER CORP DEL	540,000 (+2.9%)	$103M (+3.3%)	2.2%	—	—	COM	235851102

Exited Positions (9)

META META PLATFORMS INC 1.1%

Value $51.49M Shares 90,000 Est. Cost — Unrealized —

GLD SPDR GOLD TR 0.9%

Value $40.88M Shares 95,000 Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.7%

Value $33.14M Shares 190,000 Est. Cost — Unrealized —

KLAC KLA CORP 0.3%

Value $16.2M Shares 11,000 Est. Cost — Unrealized —

LRCX LAM RESEARCH CORP 0.3%

Value $16.02M Shares 75,000 Est. Cost — Unrealized —

AVGO BROADCOM INC 0.3%

Value $15.48M Shares 50,000 Est. Cost — Unrealized —

SMH VANECK ETF TRUST 0.3%

Value $15.34M Shares 40,000 Est. Cost — Unrealized —

SN SHARKNINJA INC 0.3%

Value $13.82M Shares 130,509 Est. Cost — Unrealized —

CTEV CLARITEV CORPORATION 0.0%

Value $719K Shares 44,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC	90,000	$51.49M	1.1%	—	—	—	30303M102
GLD	SPDR GOLD TR	95,000	$40.88M	0.9%	—	—	—	78463V107
NVDA	NVIDIA CORPORATION	190,000	$33.14M	0.7%	—	—	—	67066G104
KLAC	KLA CORP	11,000	$16.2M	0.3%	—	—	—	482480100
LRCX	LAM RESEARCH CORP	75,000	$16.02M	0.3%	—	—	—	512807306
AVGO	BROADCOM INC	50,000	$15.48M	0.3%	—	—	—	11135F101
SMH	VANECK ETF TRUST	40,000	$15.34M	0.3%	—	—	—	92189F676
SN	SHARKNINJA INC	130,509	$13.82M	0.3%	—	—	—	G8068L108
CTEV	CLARITEV CORPORATION	44,000	$719K	0.0%	—	—	—	62548M209

Decreased Positions (4)

TDS TELEPHONE & DATA SYS INC 5.0%

Value $232M (-16.4%) Shares 6,275,000 (-4.9%) Est. Cost — Unrealized —

MTZ MASTEC INC 2.6%

Value $121M (+17.2%) Shares 290,000 (-9.4%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 8.9%

Value $417M (+3.2%) Shares 1,750,000 (-9.8%) Est. Cost — Unrealized —

CRS CARPENTER TECHNOLOGY CORP 2.8%

Value $133M (+8.5%) Shares 215,000 (-30.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TDS	TELEPHONE & DATA SYS INC	6,275,000 (-4.9%)	$232M (-16.4%)	5.0%	—	—	COM NEW	879433829
MTZ	MASTEC INC	290,000 (-9.4%)	$121M (+17.2%)	2.6%	—	—	COM	576323109
AMZN	AMAZON COM INC	1,750,000 (-9.8%)	$417M (+3.2%)	8.9%	—	—	COM	023135106
CRS	CARPENTER TECHNOLOGY CORP	215,000 (-30.6%)	$133M (+8.5%)	2.8%	—	—	COM	144285103

Unchanged Positions (7)

SRTA STRATA CRITICAL MEDICAL INC 0.6%

Value $26.35M Shares 5,000,000 Est. Cost — Unrealized —

HTZWW HERTZ GLOBAL HLDGS INC 0.1%

Value $4.327M Shares 3,970,000 Est. Cost — Unrealized —

AUR AURORA INNOVATION INC 0.2%

Value $7.041M Shares 1,032,463 Est. Cost — Unrealized —

FLYX FLYEXCLUSIVE INC 0.0%

Value $2.044M Shares 1,022,000 Est. Cost — Unrealized —

AUROW AURORA INNOVATION INC 0.0%

Value $587K Shares 1,835,000 Est. Cost — Unrealized —

SPRY ARS PHARMACEUTICALS INC 0.2%

Value $8.01M Shares 1,000,000 Est. Cost — Unrealized —

FLYX/WS FLYEXCLUSIVE INC 0.0%

Value $77,175 Shares 367,499 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SRTA	STRATA CRITICAL MEDICAL INC	5,000,000	$26.35M	0.6%	—	—	CL A COM	092667104
HTZWW	HERTZ GLOBAL HLDGS INC	3,970,000	$4.327M	0.1%	—	—	*W EXP 06/30/205	42806J148
AUR	AURORA INNOVATION INC	1,032,463	$7.041M	0.2%	—	—	CLASS A COM	051774107
FLYX	FLYEXCLUSIVE INC	1,022,000	$2.044M	0.0%	—	—	COM CL A	343928107
AUROW	AURORA INNOVATION INC	1,835,000	$587K	0.0%	—	—	*W EXP 11/03/202	051774115
SPRY	ARS PHARMACEUTICALS INC	1,000,000	$8.01M	0.2%	—	—	COM	82835W108
FLYX/WS	FLYEXCLUSIVE INC	367,499	$77,175	0.0%	—	—	*W EXP 99/99/999	343928115