Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MASI	MASIMO CORP	35,900	$6.386M	1.6%	$145.14	0.0%	COM	574795100
PEN	PENUMBRA INC	14,680	$4.82M	1.2%	$339.56	0.0%	COM	70975L107
STEL	STELLAR BANCORP INC	89,200	$3.266M	0.8%	$35.57	0.0%	COM	858927106
KVUE	KENVUE INC	163,000	$2.81M	0.7%	$17.67	0.0%	COM	49177J102
NSA	NATIONAL STORAGE AFFILIATES	68,763	$2.595M	0.7%	$37.74	—	COM SHS BEN IN	637870106
ACLX	ARCELLX INC	18,183	$2.088M	0.5%	$71.30	0.0%	COMMON STOCK	03940C100
WBS	WEBSTER FINL CORP	29,526	$2.05M	0.5%	$68.20	0.0%	COM	947890109
FVAV	FORTRESS VALUE ACQU CORP V	200,000	$2.006M	0.5%	$10.03	—	ORD SHS CL A	G3645T104
TPH	TRI POINTE HOMES INC	39,900	$1.865M	0.5%	$37.17	0.0%	COM	87265H109
CSGS	CSG SYS INTL INC	22,290	$1.782M	0.5%	$79.47	0.0%	COM	126349109
APLS	APELLIS PHARMACEUTICALS INC	40,000	$1.609M	0.4%	$22.69	0.0%	COM	03753U106
TERN	TERNS PHARMACEUTICALS INC	30,000	$1.582M	0.4%	$37.46	0.0%	COM	880881107
CTRA	COTERRA ENERGY INC	40,000	$1.406M	0.4%	$28.33	0.0%	COM	127097103
SLAB	SILICON LABORATORIES INC	5,554	$1.156M	0.3%	$170.34	0.0%	COM	826919102
CNTA	CENTESSA PHARMACEUTICALS PLC	20,000	$794K	0.2%	$39.72	—	SPONSORED ADS	152309100
OLPX	OLAPLEX HLDGS INC	373,131	$757K	0.2%	$1.57	0.0%	COM	679369108
CWAN	CLEARWATER ANALYTICS HLDGS I	25,000	$591K	0.2%	$20.03	+19.0%	CALL	185123106
RNA	ATRIUM THERAPEUTICS INC	22,033	$295K	0.1%	$13.37	—	COM	04965N104

Increased Positions (6)

GTLS CHART INDS INC 1.2%

Value $4.9M (+107.6%) Shares 23,701 (+107.1%) Est. Cost $204.95 Unrealized +1.1%

LBRDK LIBERTY BROADBAND CORP 1.1%

Value $4.228M (+113.2%) Shares 84,061 (+106.0%) Est. Cost $50.85 Unrealized -2.1%

FOLD AMICUS THERAPEUTIC 0.9%

Value $3.556M (+127.0%) Shares 245,900 (+123.5%) Est. Cost $12.30 Unrealized +16.3%

WBD WARNER BROS DISCOVERY INC 0.7%

Value $2.836M (+168.9%) Shares 103,275 (+182.2%) Est. Cost $26.51 Unrealized +6.5%

EA ELECTRONIC ARTS INC 0.5%

Value $2.141M (+85.4%) Shares 10,500 (+85.8%) Est. Cost $202.09 Unrealized +0.2%

WBD WARNER BROS DISCOVERY INC 0.3%

Value $1.373M (+217.6%) Shares 50,000 (+233.3%) Est. Cost $26.51 Unrealized +6.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GTLS	CHART INDS INC	23,701 (+107.1%)	$4.9M (+107.6%)	1.2%	$204.95	+1.1%	COM	16115Q308
LBRDK	LIBERTY BROADBAND CORP	84,061 (+106.0%)	$4.228M (+113.2%)	1.1%	$50.85	-2.1%	COM SER C	530307305
FOLD	AMICUS THERAPEUTIC	245,900 (+123.5%)	$3.556M (+127.0%)	0.9%	$12.30	+16.3%	COM	03152W109
WBD	WARNER BROS DISCOVERY INC	103,275 (+182.2%)	$2.836M (+168.9%)	0.7%	$26.51	+6.5%	COM SER A	934423104
EA	ELECTRONIC ARTS INC	10,500 (+85.8%)	$2.141M (+85.4%)	0.5%	$202.09	+0.2%	COM	285512109
WBD	WARNER BROS DISCOVERY INC	50,000 (+233.3%)	$1.373M (+217.6%)	0.3%	$26.51	+6.5%	PUT	934423104

Exited Positions (21)

RJET REPUBLIC AWYS HLDGS INC 1.2%

Value $4.607M Shares 250,804 Est. Cost $20.80 Unrealized -9.6%

— ASPEN INSURANCE HOLDINGS LTD 0.9%

Value $3.652M Shares 98,430 Est. Cost $36.88 Unrealized +1.2%

CMA COMERICA INC 0.8%

Value $3.234M Shares 37,200 Est. Cost $79.98 Unrealized +15.4%

KBONU KARBON CAP PARTNERS CORP 0.8%

Value $3.09M Shares 307,023 Est. Cost $10.06 Unrealized —

EXAS EXACT SCIENCES CORP 0.7%

Value $2.894M Shares 28,500 Est. Cost $80.31 Unrealized +27.8%

LMRI LUMEXA IMAGING HOLDINGS INC 0.7%

Value $2.823M Shares 152,573 Est. Cost $18.05 Unrealized -19.7%

— CYBERARK SOFTWARE LTD 0.7%

Value $2.674M Shares 5,995 Est. Cost $446.06 Unrealized —

— KKR & CO INC 0.7%

Value $2.592M Shares 50,000 Est. Cost $49.82 Unrealized —

CADE CADENCE BANK 0.6%

Value $2.517M Shares 58,750 Est. Cost $39.41 Unrealized +11.5%

RNAM AVIDITY BIOSCIENCES INC 0.6%

Value $2.481M Shares 34,402 Est. Cost $64.59 Unrealized +12.5%

SHC SOTERA HEALTH CO 0.6%

Value $2.2M Shares 124,700 Est. Cost $16.54 Unrealized +9.1%

— FRONTIER COMMUNICATIONS PARE 0.4%

Value $1.77M Shares 46,500 Est. Cost $38.07 Unrealized —

LGN LEGENCE CORP 0.4%

Value $1.752M Shares 40,704 Est. Cost $31.48 Unrealized +55.1%

CFLT CONFLUENT INC 0.4%

Value $1.663M Shares 55,000 Est. Cost $24.55 Unrealized +24.2%

— CIDARA THERAPEUTICS INC 0.4%

Value $1.601M Shares 7,250 Est. Cost $220.89 Unrealized —

MDU MDU RES GROUP INC 0.3%

Value $1.314M Shares 67,304 Est. Cost $19.57 Unrealized +4.1%

RNAM AVIDITY BIOSCIENCES INC 0.2%

Value $721K Shares 10,000 Est. Cost $64.59 Unrealized +12.5%

ALH ALLIANCE LAUNDRY HLDGS INC 0.2%

Value $666K Shares 32,703 Est. Cost $24.03 Unrealized -6.5%

CWAN CLEARWATER ANALYTICS HLDGS I 0.1%

Value $241K Shares 10,000 Est. Cost $20.03 Unrealized +19.0%

GWRE GUIDEWIRE SOFTWARE INC 0.0%

Value $121K Shares 600 Est. Cost $221.19 Unrealized -32.1%

SARO STANDARDAERO INC 0.0%

Value $74,740 Shares 2,606 Est. Cost $27.02 Unrealized +15.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RJET	REPUBLIC AWYS HLDGS INC	250,804	$4.607M	1.2%	$20.80	-9.6%	—	590479408
—	ASPEN INSURANCE HOLDINGS LTD	98,430	$3.652M	0.9%	$36.88	+1.2%	—	G05384501
CMA	COMERICA INC	37,200	$3.234M	0.8%	$79.98	+15.4%	—	200340107
KBONU	KARBON CAP PARTNERS CORP	307,023	$3.09M	0.8%	$10.06	—	—	G5225W126
EXAS	EXACT SCIENCES CORP	28,500	$2.894M	0.7%	$80.31	+27.8%	—	30063P105
LMRI	LUMEXA IMAGING HOLDINGS INC	152,573	$2.823M	0.7%	$18.05	-19.7%	—	550249106
—	CYBERARK SOFTWARE LTD	5,995	$2.674M	0.7%	$446.06	—	—	M2682V108
—	KKR & CO INC	50,000	$2.592M	0.7%	$49.82	—	—	48251W500
CADE	CADENCE BANK	58,750	$2.517M	0.6%	$39.41	+11.5%	—	12740C103
RNAM	AVIDITY BIOSCIENCES INC	34,402	$2.481M	0.6%	$64.59	+12.5%	—	05370A108
SHC	SOTERA HEALTH CO	124,700	$2.2M	0.6%	$16.54	+9.1%	—	83601L102
—	FRONTIER COMMUNICATIONS PARE	46,500	$1.77M	0.4%	$38.07	—	—	35909D109
LGN	LEGENCE CORP	40,704	$1.752M	0.4%	$31.48	+55.1%	—	52476L109
CFLT	CONFLUENT INC	55,000	$1.663M	0.4%	$24.55	+24.2%	—	20717M103
—	CIDARA THERAPEUTICS INC	7,250	$1.601M	0.4%	$220.89	—	—	171757206
MDU	MDU RES GROUP INC	67,304	$1.314M	0.3%	$19.57	+4.1%	—	552690109
RNAM	AVIDITY BIOSCIENCES INC	10,000	$721K	0.2%	$64.59	+12.5%	PUT	05370A108
ALH	ALLIANCE LAUNDRY HLDGS INC	32,703	$666K	0.2%	$24.03	-6.5%	—	01862Q107
CWAN	CLEARWATER ANALYTICS HLDGS I	10,000	$241K	0.1%	$20.03	+19.0%	—	185123106
GWRE	GUIDEWIRE SOFTWARE INC	600	$121K	0.0%	$221.19	-32.1%	—	40171V100
SARO	STANDARDAERO INC	2,606	$74,740	0.0%	$27.02	+15.7%	—	85423L103

Unchanged Positions (10)

IBIT ISHARES BITCOIN TRUST ETF 12.9%

Value $50.91M Shares 1,325,000 Est. Cost $40.47 Unrealized —

NN NEXTNAV INC 57.7%

Value $227M Shares 14,178,054 Est. Cost $9.08 Unrealized +71.5%

NFE NEW FORTRESS ENERGY INC 2.0%

Value $7.906M Shares 13,399,317 Est. Cost $12.54 Unrealized -89.6%

PLBY PLAYBOY INC 6.4%

Value $25.22M Shares 16,589,531 Est. Cost $3.02 Unrealized -37.5%

FFWM FIRST FNDTN INC 6.1%

Value $23.83M Shares 4,038,750 Est. Cost $6.54 Unrealized -4.8%

MARA MARA HOLDINGS INC 0.0%

Value $115K Shares 14,056 Est. Cost $37.77 Unrealized -75.5%

NSC NORFOLK SOUTHN CORP 0.5%

Value $1.787M Shares 6,225 Est. Cost $288.62 Unrealized +3.3%

TTAN SERVICETITAN INC 0.0%

Value $1,777 Shares 28 Est. Cost $97.68 Unrealized -17.3%

SPCB SUPERCOM LTD NEW 0.0%

Value $4,181 Shares 534 Est. Cost $9.94 Unrealized -12.3%

SMRT SMARTRENT INC 0.0%

Value $1,398 Shares 932 Est. Cost $1.64 Unrealized +5.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	1,325,000	$50.91M	12.9%	$40.47	—	SHS BEN INT	46438F101
NN	NEXTNAV INC	14,178,054	$227M	57.7%	$9.08	+71.5%	COMMON STOCK	65345N106
NFE	NEW FORTRESS ENERGY INC	13,399,317	$7.906M	2.0%	$12.54	-89.6%	COM CL A	644393100
PLBY	PLAYBOY INC	16,589,531	$25.22M	6.4%	$3.02	-37.5%	COM	72814P109
FFWM	FIRST FNDTN INC	4,038,750	$23.83M	6.1%	$6.54	-4.8%	COM	32026V104
MARA	MARA HOLDINGS INC	14,056	$115K	0.0%	$37.77	-75.5%	COM	565788106
NSC	NORFOLK SOUTHN CORP	6,225	$1.787M	0.5%	$288.62	+3.3%	COM	655844108
TTAN	SERVICETITAN INC	28	$1,777	0.0%	$97.68	-17.3%	SHS CL A	81764X103
SPCB	SUPERCOM LTD NEW	534	$4,181	0.0%	$9.94	-12.3%	ORD SHS	M87095309
SMRT	SMARTRENT INC	932	$1,398	0.0%	$1.64	+5.1%	COM CL A	83193G107