Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	300,000	$221M	10.2%	—	—	PUT	46090E103
SMH	VANECK ETF TRUST	300,000	$197M	9.1%	—	—	PUT	92189F676
GLD	SPDR GOLD TR	216,000	$79.57M	3.7%	—	—	CALL	78463V107
EWY	ISHARES INC	300,000	$60.57M	2.8%	—	—	PUT	464286772
RVMD	REVOLUTION MEDICINES INC	180,000	$33.71M	1.6%	—	—	—	76155X100
TSLA	TESLA INC	50,000	$21.03M	1.0%	—	—	CALL	88160R101
META	META PLATFORMS INC	31,100	$17.52M	0.8%	—	—	CALL	30303M102
ABVX	ABIVAX SA	72,000	$9.595M	0.4%	—	—	—	00370M103
AZN	ASTRAZENECA PLC	25,000	$4.74M	0.2%	—	—	—	G0593M107
NEM	NEWMONT CORP	22,500	$2.102M	0.1%	—	—	—	651639106
VST	VISTRA CORP	12,600	$1.999M	0.1%	—	—	—	92840M102
JLL	JONES LANG LASALLE INC	6,300	$1.953M	0.1%	—	—	—	48020Q107
MCD	MCDONALDS CORP	7,200	$1.946M	0.1%	—	—	—	580135101

Increased Positions (11)

XLV SELECT SECTOR SPDR TR 4.1%

Value $89.64M (+2345.9%) Shares 565,000 (+2160.0%) Est. Cost — Unrealized —

AAPL APPLE INC 5.0%

Value $109M (+346.2%) Shares 376,100 (+291.4%) Est. Cost — Unrealized —

GOOG ALPHABET INC 4.7%

Value $102M (+224.7%) Shares 290,000 (+163.6%) Est. Cost — Unrealized —

META META PLATFORMS INC 5.2%

Value $112M (+116.6%) Shares 198,000 (+120.0%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 4.2%

Value $90.26M (+74.6%) Shares 189,000 (+23.5%) Est. Cost — Unrealized —

TSLA TESLA INC 1.0%

Value $20.61M (+1285.9%) Shares 49,000 (+1125.0%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 1.7%

Value $36.82M (+88.5%) Shares 184,000 (+64.3%) Est. Cost — Unrealized —

RTX RTX CORPORATION 1.1%

Value $23.91M (+96.7%) Shares 126,000 (+100.0%) Est. Cost — Unrealized —

NU NU HLDGS LTD 4.4%

Value $94.04M (+5.5%) Shares 7,039,000 (+13.5%) Est. Cost — Unrealized —

FIGR FIGURE TECHNOLOGY SOLUTIO 0.8%

Value $17.96M (+35.7%) Shares 585,000 (+50.0%) Est. Cost — Unrealized —

NOC NORTHROP GRUMMAN CORP 0.7%

Value $15.84M (+8.0%) Shares 31,100 (+44.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XLV	SELECT SECTOR SPDR TR	565,000 (+2160.0%)	$89.64M (+2345.9%)	4.1%	—	—	—	81369Y209
AAPL	APPLE INC	376,100 (+291.4%)	$109M (+346.2%)	5.0%	—	—	—	037833100
GOOG	ALPHABET INC	290,000 (+163.6%)	$102M (+224.7%)	4.7%	—	—	—	02079K107
META	META PLATFORMS INC	198,000 (+120.0%)	$112M (+116.6%)	5.2%	—	—	—	30303M102
TSM	TAIWAN SEMICONDUCTOR MFG LTD	189,000 (+23.5%)	$90.26M (+74.6%)	4.2%	—	—	—	874039100
TSLA	TESLA INC	49,000 (+1125.0%)	$20.61M (+1285.9%)	1.0%	—	—	—	88160R101
NVDA	NVIDIA CORPORATION	184,000 (+64.3%)	$36.82M (+88.5%)	1.7%	—	—	—	67066G104
RTX	RTX CORPORATION	126,000 (+100.0%)	$23.91M (+96.7%)	1.1%	—	—	—	75513E101
NU	NU HLDGS LTD	7,039,000 (+13.5%)	$94.04M (+5.5%)	4.4%	—	—	—	G6683N103
FIGR	FIGURE TECHNOLOGY SOLUTIO	585,000 (+50.0%)	$17.96M (+35.7%)	0.8%	—	—	—	349381103
NOC	NORTHROP GRUMMAN CORP	31,100 (+44.7%)	$15.84M (+8.0%)	0.7%	—	—	—	666807102

Exited Positions (10)

QQQ INVESCO QQQ TR 16.4%

Value $355M Shares 614,700 Est. Cost — Unrealized —

EWZ ISHARES INC 3.6%

Value $76.78M Shares 2,000,000 Est. Cost — Unrealized —

EWZ ISHARES INC 3.3%

Value $71.41M Shares 1,860,000 Est. Cost — Unrealized —

MSFT MICROSOFT CORP 1.5%

Value $33.31M Shares 90,000 Est. Cost — Unrealized —

ARM ARM HOLDINGS PLC 1.4%

Value $31.27M Shares 206,730 Est. Cost — Unrealized —

KWEB KRANESHARES TRUST 1.2%

Value $25.59M Shares 900,000 Est. Cost — Unrealized —

NU NU HLDGS LTD 0.7%

Value $14.37M Shares 1,000,000 Est. Cost — Unrealized —

AZN ASTRAZENECA PLC 0.2%

Value $4.93M Shares 25,000 Est. Cost — Unrealized —

KORU DIREXION SHARES ETF TRUST 0.2%

Value $3.566M Shares 12,552 Est. Cost — Unrealized —

STUB STUBHUB HLDGS INC 0.1%

Value $3.12M Shares 500,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	614,700	$355M	16.4%	—	—	—	46090E103
EWZ	ISHARES INC	2,000,000	$76.78M	3.6%	—	—	CALL	464286400
EWZ	ISHARES INC	1,860,000	$71.41M	3.3%	—	—	—	464286400
MSFT	MICROSOFT CORP	90,000	$33.31M	1.5%	—	—	CALL	594918104
ARM	ARM HOLDINGS PLC	206,730	$31.27M	1.4%	—	—	—	042068205
KWEB	KRANESHARES TRUST	900,000	$25.59M	1.2%	—	—	—	500767306
NU	NU HLDGS LTD	1,000,000	$14.37M	0.7%	—	—	CALL	G6683N103
AZN	ASTRAZENECA PLC	25,000	$4.93M	0.2%	—	—	—	046353108
KORU	DIREXION SHARES ETF TRUST	12,552	$3.566M	0.2%	—	—	—	25461A387
STUB	STUBHUB HLDGS INC	500,000	$3.12M	0.1%	—	—	—	86384P109

Decreased Positions (5)

MU MICRON TECHNOLOGY INC 7.2%

Value $155M (+218.9%) Shares 134,400 (-6.7%) Est. Cost — Unrealized —

LLY ELI LILLY & CO 0.1%

Value $1.799M (-97.6%) Shares 1,500 (-99.8%) Est. Cost — Unrealized —

TEVA TEVA PHARMACEUTICAL INDS LTD 0.1%

Value $1.355M (-97.8%) Shares 40,000 (-98.1%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 1.1%

Value $23.31M (-68.7%) Shares 62,500 (-68.9%) Est. Cost — Unrealized —

PANW PALO ALTO NETWORKS INC 1.4%

Value $30.69M (+74.0%) Shares 90,000 (-18.2%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	134,400 (-6.7%)	$155M (+218.9%)	7.2%	—	—	—	595112103
LLY	ELI LILLY & CO	1,500 (-99.8%)	$1.799M (-97.6%)	0.1%	—	—	—	532457108
TEVA	TEVA PHARMACEUTICAL INDS LTD	40,000 (-98.1%)	$1.355M (-97.8%)	0.1%	—	—	—	881624209
MSFT	MICROSOFT CORP	62,500 (-68.9%)	$23.31M (-68.7%)	1.1%	—	—	—	594918104
PANW	PALO ALTO NETWORKS INC	90,000 (-18.2%)	$30.69M (+74.0%)	1.4%	—	—	—	697435105

Unchanged Positions (26)

INSM INSMED INC 5.0%

Value $108M Shares 1,014,000 Est. Cost — Unrealized —

NTRA NATERA INC 9.6%

Value $207M Shares 762,603 Est. Cost — Unrealized —

IFS INTERCORP FINL SVCS INC 2.7%

Value $57.3M Shares 1,022,210 Est. Cost — Unrealized —

CRWD CROWDSTRIKE HLDGS INC 0.5%

Value $11.45M Shares 15,000 Est. Cost — Unrealized —

AMZN AMAZON COM INC 1.0%

Value $20.74M Shares 87,000 Est. Cost — Unrealized —

LMT LOCKHEED MARTIN CORP 0.6%

Value $13.76M Shares 27,000 Est. Cost — Unrealized —

JPM JPMORGAN CHASE & CO. 0.8%

Value $18M Shares 55,000 Est. Cost — Unrealized —

WAT WATERS CORP 0.3%

Value $7.309M Shares 19,489 Est. Cost — Unrealized —

BDX BECTON DICKINSON & CO 1.6%

Value $34.05M Shares 225,000 Est. Cost — Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.2%

Value $4.319M Shares 45,000 Est. Cost — Unrealized —

WMT WALMART INC 0.6%

Value $13.59M Shares 120,000 Est. Cost — Unrealized —

NAMS NEWAMSTERDAM PHARMA COMPANY 1.1%

Value $23.79M Shares 702,000 Est. Cost — Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.5%

Value $11.49M Shares 54,000 Est. Cost — Unrealized —

SLV ISHARES SILVER TR 0.2%

Value $3.476M Shares 65,000 Est. Cost — Unrealized —

SMH VANECK ETF TRUST 0.1%

Value $1.968M Shares 3,000 Est. Cost — Unrealized —

EWY ISHARES INC 0.1%

Value $1.817M Shares 9,000 Est. Cost — Unrealized —

INDA ISHARES TR 0.5%

Value $10.37M Shares 210,000 Est. Cost — Unrealized —

ETHA ISHARES ETHEREUM TR 0.1%

Value $1.177M Shares 99,000 Est. Cost — Unrealized —

TMUS T-MOBILE US INC 0.1%

Value $1.342M Shares 8,000 Est. Cost — Unrealized —

GGAL GRUPO FINANCIERO GALICIA S.A 0.2%

Value $4.969M Shares 99,312 Est. Cost — Unrealized —

GLD SPDR GOLD TR 0.1%

Value $1.842M Shares 5,000 Est. Cost — Unrealized —

BBAR BANCO BBVA ARGENTINA S A 0.1%

Value $1.235M Shares 63,000 Est. Cost — Unrealized —

ORCL ORACLE CORP 0.7%

Value $14.65M Shares 100,000 Est. Cost — Unrealized —

COGT COGENT BIOSCIENCES INC 0.4%

Value $9.353M Shares 241,671 Est. Cost — Unrealized —

ALLO ALLOGENE THERAPEUTICS INC 0.0%

Value $208K Shares 100,000 Est. Cost — Unrealized —

ARGT GLOBAL X FDS 0.0%

Value $813K Shares 8,900 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INSM	INSMED INC	1,014,000	$108M	5.0%	—	—	—	457669307
NTRA	NATERA INC	762,603	$207M	9.6%	—	—	—	632307104
IFS	INTERCORP FINL SVCS INC	1,022,210	$57.3M	2.7%	—	—	—	P5626F128
CRWD	CROWDSTRIKE HLDGS INC	15,000	$11.45M	0.5%	—	—	—	22788C105
AMZN	AMAZON COM INC	87,000	$20.74M	1.0%	—	—	—	023135106
LMT	LOCKHEED MARTIN CORP	27,000	$13.76M	0.6%	—	—	—	539830109
JPM	JPMORGAN CHASE & CO.	55,000	$18M	0.8%	—	—	—	46625H100
WAT	WATERS CORP	19,489	$7.309M	0.3%	—	—	—	941848103
BDX	BECTON DICKINSON & CO	225,000	$34.05M	1.6%	—	—	—	075887109
BABA	ALIBABA GROUP HLDG LTD	45,000	$4.319M	0.2%	—	—	—	01609W102
WMT	WALMART INC	120,000	$13.59M	0.6%	—	—	—	931142103
NAMS	NEWAMSTERDAM PHARMA COMPANY	702,000	$23.79M	1.1%	—	—	—	N62509109
RSP	INVESCO EXCHANGE TRADED FD T	54,000	$11.49M	0.5%	—	—	—	46137V357
SLV	ISHARES SILVER TR	65,000	$3.476M	0.2%	—	—	—	46428Q109
SMH	VANECK ETF TRUST	3,000	$1.968M	0.1%	—	—	—	92189F676
EWY	ISHARES INC	9,000	$1.817M	0.1%	—	—	—	464286772
INDA	ISHARES TR	210,000	$10.37M	0.5%	—	—	—	46429B598
ETHA	ISHARES ETHEREUM TR	99,000	$1.177M	0.1%	—	—	—	46438R105
TMUS	T-MOBILE US INC	8,000	$1.342M	0.1%	—	—	—	872590104
GGAL	GRUPO FINANCIERO GALICIA S.A	99,312	$4.969M	0.2%	—	—	—	399909100
GLD	SPDR GOLD TR	5,000	$1.842M	0.1%	—	—	—	78463V107
BBAR	BANCO BBVA ARGENTINA S A	63,000	$1.235M	0.1%	—	—	—	058934100
ORCL	ORACLE CORP	100,000	$14.65M	0.7%	—	—	—	68389X105
COGT	COGENT BIOSCIENCES INC	241,671	$9.353M	0.4%	—	—	—	19240Q201
ALLO	ALLOGENE THERAPEUTICS INC	100,000	$208K	0.0%	—	—	—	019770106
ARGT	GLOBAL X FDS	8,900	$813K	0.0%	—	—	—	37950E259