Temasek Holdings (Private) Ltd Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TDG	TRANSDIGM GROUP INC	145,538	$193,544	0.6%	$1310.75	0.0%	COM	893641100
APP	APPLOVIN CORP	140,727	$94,825	0.3%	$630.10	0.0%	COM CL A	03831W108
GEV	GE VERNOVA INC	142,800	$93,330	0.3%	$312.91	+94.6%	PUT	36828A101
VRT	VERTIV HOLDINGS CO	471,079	$76,320	0.2%	$173.58	0.0%	COM CL A	92537N108
U	UNITY SOFTWARE INC	1,329,700	$58,733	0.2%	$37.35	+9.1%	PUT	91332U101
INTU	INTUIT	76,700	$50,808	0.2%	$650.23	+1.6%	PUT	461202103
GOOGL	ALPHABET INC	158,100	$49,485	0.2%	$186.14	+53.4%	CALL	02079K305
FIX	COMFORT SYS USA INC	52,557	$49,051	0.2%	$922.99	0.0%	COM	199908104
MCHI	ISHARES TR	744,807	$44,741	0.1%	$60.07	—	MSCI CHINA ETF	46429B671
HD	HOME DEPOT INC	129,422	$44,534	0.1%	$364.59	0.0%	COM	437076102
TWLO	TWILIO INC	309,573	$44,034	0.1%	$123.87	0.0%	CL A	90138F102
NVDA	NVIDIA CORPORATION	230,000	$42,895	0.1%	$121.92	+52.7%	PUT	67066G104
APP	APPLOVIN CORP	46,400	$31,265	0.1%	$630.10	0.0%	PUT	03831W108
INDA	ISHARES TR	512,000	$27,674	0.1%	$54.05	—	MSCI INDIA ETF	46429B598
NEE	NEXTERA ENERGY INC	335,891	$26,965	0.1%	$82.50	0.0%	COM	65339F101
VRT	VERTIV HOLDINGS CO	164,400	$26,634	0.1%	$173.58	0.0%	PUT	92537N108
ISRG	INTUITIVE SURGICAL INC	44,000	$24,920	0.1%	$532.37	0.0%	COM NEW	46120E602
CAT	CATERPILLAR INC	27,360	$15,674	0.0%	$555.50	0.0%	COM	149123101
NXE	NEXGEN ENERGY LTD	1,240,208	$11,410	0.0%	$8.83	0.0%	COM	65340P106
ADI	ANALOG DEVICES INC	35,332	$9,582	0.0%	$250.62	0.0%	COM	032654105
TXN	TEXAS INSTRS INC	51,080	$8,862	0.0%	$170.73	0.0%	COM	882508104
ALAB	ASTERA LABS INC	47,306	$7,870	0.0%	$167.29	0.0%	COM	04626A103
ANET	ARISTA NETWORKS INC	58,189	$7,625	0.0%	$137.66	0.0%	COM SHS	040413205
HUBS	HUBSPOT INC	17,965	$7,209	0.0%	$414.24	0.0%	COM	443573100
AMD	ADVANCED MICRO DEVICES INC	33,476	$7,169	0.0%	$224.60	0.0%	COM	007903107
CLS	CELESTICA INC	23,888	$7,062	0.0%	$301.37	0.0%	COM	15101Q207
PCOR	PROCORE TECHNOLOGIES INC	66,627	$4,846	0.0%	$73.96	0.0%	COM	74275K108
MICC	MAGNUM ICE CREAM CO NV	79,000	$1,252	0.0%	$15.68	0.0%	ORD SHS	N5505D105
CHYM	CHIME FINL INC	29,695	$747	0.0%	$21.24	0.0%	COM SHS CL A	16935C109
CAI	CARIS LIFE SCIENCES INC	12,235	$330	0.0%	$28.16	0.0%	COM	142152107
RVMD	REVOLUTION MEDICINES INC	3,148	$251	0.0%	$65.57	0.0%	COM	76155X100

Increased Positions (51)

GOOGL ALPHABET INC 4.6%

Value ($000) $1,465,410 (+45.8%) Shares 4,681,820 (+13.2%) Est. Cost $186.14 Unrealized +53.4%

NVDA NVIDIA CORPORATION 5.2%

Value ($000) $1,632,232 (+33.4%) Shares 8,751,912 (+33.4%) Est. Cost $121.92 Unrealized +52.7%

MSFT MICROSOFT CORP 4.1%

Value ($000) $1,307,703 (+31.9%) Shares 2,703,988 (+41.3%) Est. Cost $426.13 Unrealized +17.5%

SPGI S&P GLOBAL INC 2.2%

Value ($000) $679,525 (+45.7%) Shares 1,300,302 (+35.7%) Est. Cost $445.84 Unrealized +10.8%

V VISA INC 7.2%

Value ($000) $2,276,768 (+8.0%) Shares 6,491,881 (+5.1%) Est. Cost $155.05 Unrealized +119.5%

AVGO BROADCOM INC 2.7%

Value ($000) $863,961 (+21.9%) Shares 2,496,276 (+16.2%) Est. Cost $183.59 Unrealized +94.5%

AMZN AMAZON COM INC 3.9%

Value ($000) $1,226,410 (+14.4%) Shares 5,313,275 (+8.8%) Est. Cost $165.32 Unrealized +38.4%

KKR KKR & CO INC 0.5%

Value ($000) $169,873 (+336.0%) Shares 1,332,549 (+344.4%) Est. Cost $127.65 Unrealized -2.6%

BKNG BOOKING HOLDINGS INC 0.4%

Value ($000) $134,820 (+925.0%) Shares 25,175 (+933.5%) Est. Cost $5055.45 Unrealized +1.6%

LIN LINDE PLC 0.7%

Value ($000) $229,167 (+104.3%) Shares 537,458 (+127.5%) Est. Cost $434.33 Unrealized -1.6%

APO APOLLO GLOBAL MGMT INC 0.3%

Value ($000) $109,055 (+963.6%) Shares 753,349 (+879.2%) Est. Cost $133.40 Unrealized -0.6%

EWY ISHARES INC 0.5%

Value ($000) $155,066 (+162.9%) Shares 1,594,998 (+116.6%) Est. Cost $85.20 Unrealized —

META META PLATFORMS INC 0.8%

Value ($000) $241,930 (+53.9%) Shares 366,511 (+71.2%) Est. Cost $609.79 Unrealized +9.4%

KBWB INVESCO EXCH TRADED FD TR II 0.5%

Value ($000) $167,653 (+100.5%) Shares 1,989,001 (+86.1%) Est. Cost $81.02 Unrealized —

KWEB KRANESHARES TRUST 0.7%

Value ($000) $221,304 (+60.9%) Shares 6,499,382 (+98.5%) Est. Cost $33.36 Unrealized —

IBN ICICI BANK LIMITED 2.8%

Value ($000) $870,035 (+9.7%) Shares 29,195,789 (+11.3%) Est. Cost $14.77 Unrealized —

UNH UNITEDHEALTH GROUP INC 0.2%

Value ($000) $73,573 (+503.6%) Shares 222,874 (+531.4%) Est. Cost $331.15 Unrealized +1.8%

TCOM TRIP COM GROUP LTD 0.5%

Value ($000) $161,055 (+59.8%) Shares 2,239,671 (+67.1%) Est. Cost $68.72 Unrealized —

GEV GE VERNOVA INC 1.1%

Value ($000) $339,707 (+20.4%) Shares 519,772 (+13.3%) Est. Cost $312.91 Unrealized +94.6%

AMZN AMAZON COM INC 0.4%

Value ($000) $110,517 (+89.5%) Shares 478,800 (+80.3%) Est. Cost $165.32 Unrealized +38.4%

U UNITY SOFTWARE INC 0.4%

Value ($000) $111,327 (+87.8%) Shares 2,520,421 (+70.2%) Est. Cost $37.35 Unrealized +9.1%

WFC WELLS FARGO CO NEW 0.4%

Value ($000) $142,020 (+56.0%) Shares 1,523,823 (+40.3%) Est. Cost $77.22 Unrealized +12.2%

WDAY WORKDAY INC 0.6%

Value ($000) $174,399 (+38.7%) Shares 811,988 (+55.4%) Est. Cost $230.06 Unrealized -1.2%

PDD PDD HOLDINGS INC 1.7%

Value ($000) $530,993 (-7.6%) Shares 4,682,894 (+7.7%) Est. Cost $121.73 Unrealized —

SNOW SNOWFLAKE INC 0.3%

Value ($000) $80,840 (+91.2%) Shares 368,528 (+96.6%) Est. Cost $212.39 Unrealized +14.9%

DNLI DENALI THERAPEUTICS INC 0.4%

Value ($000) $115,784 (+48.9%) Shares 7,012,974 (+30.9%) Est. Cost $23.75 Unrealized -28.9%

AS AMER SPORTS INC 0.3%

Value ($000) $96,309 (+57.3%) Shares 2,578,541 (+46.4%) Est. Cost $36.63 Unrealized -6.3%

BSX BOSTON SCIENTIFIC CORP 0.6%

Value ($000) $198,483 (+21.1%) Shares 2,081,626 (+24.0%) Est. Cost $98.53 Unrealized -0.5%

DHR DANAHER CORPORATION 0.2%

Value ($000) $65,438 (+95.5%) Shares 285,856 (+69.3%) Est. Cost $210.43 Unrealized +4.3%

NKE NIKE INC 0.2%

Value ($000) $54,820 (+109.9%) Shares 860,469 (+129.7%) Est. Cost $68.77 Unrealized -5.6%

AA ALCOA CORP 0.2%

Value ($000) $57,093 (+77.4%) Shares 1,074,394 (+9.8%) Est. Cost $32.90 Unrealized +24.3%

CRM SALESFORCE INC 0.6%

Value ($000) $181,143 (+15.9%) Shares 683,790 (+3.7%) Est. Cost $252.31 Unrealized -1.6%

VNET VNET GROUP INC 0.1%

Value ($000) $27,522 (+791.6%) Shares 3,253,150 (+988.7%) Est. Cost $8.63 Unrealized —

TECK TECK RESOURCES LTD 0.8%

Value ($000) $254,171 (+10.3%) Shares 5,307,384 (+1.1%) Est. Cost $40.18 Unrealized +7.8%

SE SEA LTD 1.3%

Value ($000) $421,391 (-4.7%) Shares 3,303,217 (+33.5%) Est. Cost $115.07 Unrealized —

TME TENCENT MUSIC ENTMT GROUP 0.1%

Value ($000) $44,862 (+84.5%) Shares 2,559,173 (+145.7%) Est. Cost $19.89 Unrealized —

WMT WALMART INC 0.2%

Value ($000) $48,470 (+39.3%) Shares 435,062 (+28.9%) Est. Cost $87.55 Unrealized +22.4%

WRD WERIDE INC 0.1%

Value ($000) $25,856 (+92.7%) Shares 2,978,803 (+119.7%) Est. Cost $9.24 Unrealized —

FLY FIREFLY AEROSPACE INC 0.1%

Value ($000) $23,927 (+91.7%) Shares 1,069,588 (+151.3%) Est. Cost $31.82 Unrealized -27.3%

CDNS CADENCE DESIGN SYSTEM INC 0.2%

Value ($000) $55,819 (+25.0%) Shares 178,576 (+40.5%) Est. Cost $298.53 Unrealized +9.3%

PGR PROGRESSIVE CORP 0.7%

Value ($000) $226,260 (-4.6%) Shares 993,588 (+3.4%) Est. Cost $242.46 Unrealized -12.4%

BZ KANZHUN LIMITED 0.2%

Value ($000) $72,951 (+17.3%) Shares 3,579,525 (+34.4%) Est. Cost $18.27 Unrealized —

NTES NETEASE INC 0.2%

Value ($000) $64,644 (+16.2%) Shares 469,728 (+28.3%) Est. Cost $104.79 Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.4%

Value ($000) $120,178 (+7.9%) Shares 1,414,187 (+6.7%) Est. Cost $70.02 Unrealized +24.9%

BEKE KE HLDGS INC 0.2%

Value ($000) $48,026 (+16.7%) Shares 3,047,357 (+40.7%) Est. Cost $17.55 Unrealized —

NOW SERVICENOW INC 0.3%

Value ($000) $101,470 (-5.8%) Shares 662,380 (+466.1%) Est. Cost $166.90 Unrealized +2.8%

NKE NIKE INC 0.1%

Value ($000) $20,954 (+38.3%) Shares 328,900 (+51.4%) Est. Cost $68.77 Unrealized -5.6%

WIX WIX COM LTD 0.2%

Value ($000) $78,631 (+6.7%) Shares 756,866 (+82.4%) Est. Cost $137.14 Unrealized -11.8%

NFLX NETFLIX INC 0.2%

Value ($000) $65,056 (+8.2%) Shares 693,860 (+1283.0%) Est. Cost $106.96 Unrealized +0.8%

SNPS SYNOPSYS INC 0.1%

Value ($000) $26,136 (+16.9%) Shares 55,642 (+22.8%) Est. Cost $479.15 Unrealized -7.3%

ESTC ELASTIC N V 0.3%

Value ($000) $97,654 (-2.5%) Shares 1,294,465 (+9.3%) Est. Cost $84.13 Unrealized -3.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	4,681,820 (+13.2%)	$1,465,410 (+45.8%)	4.6%	$186.14	+53.4%	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	8,751,912 (+33.4%)	$1,632,232 (+33.4%)	5.2%	$121.92	+52.7%	COM	67066G104
MSFT	MICROSOFT CORP	2,703,988 (+41.3%)	$1,307,703 (+31.9%)	4.1%	$426.13	+17.5%	COM	594918104
SPGI	S&P GLOBAL INC	1,300,302 (+35.7%)	$679,525 (+45.7%)	2.2%	$445.84	+10.8%	COM	78409V104
V	VISA INC	6,491,881 (+5.1%)	$2,276,768 (+8.0%)	7.2%	$155.05	+119.5%	COM CL A	92826C839
AVGO	BROADCOM INC	2,496,276 (+16.2%)	$863,961 (+21.9%)	2.7%	$183.59	+94.5%	COM	11135F101
AMZN	AMAZON COM INC	5,313,275 (+8.8%)	$1,226,410 (+14.4%)	3.9%	$165.32	+38.4%	COM	023135106
KKR	KKR & CO INC	1,332,549 (+344.4%)	$169,873 (+336.0%)	0.5%	$127.65	-2.6%	COM	48251W104
BKNG	BOOKING HOLDINGS INC	25,175 (+933.5%)	$134,820 (+925.0%)	0.4%	$5055.45	+1.6%	COM	09857L108
LIN	LINDE PLC	537,458 (+127.5%)	$229,167 (+104.3%)	0.7%	$434.33	-1.6%	SHS	G54950103
APO	APOLLO GLOBAL MGMT INC	753,349 (+879.2%)	$109,055 (+963.6%)	0.3%	$133.40	-0.6%	COM	03769M106
EWY	ISHARES INC	1,594,998 (+116.6%)	$155,066 (+162.9%)	0.5%	$85.20	—	MSCI STH KOR ETF	464286772
META	META PLATFORMS INC	366,511 (+71.2%)	$241,930 (+53.9%)	0.8%	$609.79	+9.4%	CL A	30303M102
KBWB	INVESCO EXCH TRADED FD TR II	1,989,001 (+86.1%)	$167,653 (+100.5%)	0.5%	$81.02	—	KBW BK ETF	46138E628
KWEB	KRANESHARES TRUST	6,499,382 (+98.5%)	$221,304 (+60.9%)	0.7%	$33.36	—	CSI CHI INTERNET	500767306
IBN	ICICI BANK LIMITED	29,195,789 (+11.3%)	$870,035 (+9.7%)	2.8%	$14.77	—	ADR	45104G104
UNH	UNITEDHEALTH GROUP INC	222,874 (+531.4%)	$73,573 (+503.6%)	0.2%	$331.15	+1.8%	COM	91324P102
TCOM	TRIP COM GROUP LTD	2,239,671 (+67.1%)	$161,055 (+59.8%)	0.5%	$68.72	—	ADS	89677Q107
GEV	GE VERNOVA INC	519,772 (+13.3%)	$339,707 (+20.4%)	1.1%	$312.91	+94.6%	COM	36828A101
AMZN	AMAZON COM INC	478,800 (+80.3%)	$110,517 (+89.5%)	0.4%	$165.32	+38.4%	PUT	023135106
U	UNITY SOFTWARE INC	2,520,421 (+70.2%)	$111,327 (+87.8%)	0.4%	$37.35	+9.1%	COM	91332U101
WFC	WELLS FARGO CO NEW	1,523,823 (+40.3%)	$142,020 (+56.0%)	0.4%	$77.22	+12.2%	COM	949746101
WDAY	WORKDAY INC	811,988 (+55.4%)	$174,399 (+38.7%)	0.6%	$230.06	-1.2%	CL A	98138H101
PDD	PDD HOLDINGS INC	4,682,894 (+7.7%)	$530,993 (-7.6%)	1.7%	$121.73	—	SPONSORED ADS	722304102
SNOW	SNOWFLAKE INC	368,528 (+96.6%)	$80,840 (+91.2%)	0.3%	$212.39	+14.9%	COM SHS	833445109
DNLI	DENALI THERAPEUTICS INC	7,012,974 (+30.9%)	$115,784 (+48.9%)	0.4%	$23.75	-28.9%	COM	24823R105
AS	AMER SPORTS INC	2,578,541 (+46.4%)	$96,309 (+57.3%)	0.3%	$36.63	-6.3%	COM SHS	G0260P102
BSX	BOSTON SCIENTIFIC CORP	2,081,626 (+24.0%)	$198,483 (+21.1%)	0.6%	$98.53	-0.5%	COM	101137107
DHR	DANAHER CORPORATION	285,856 (+69.3%)	$65,438 (+95.5%)	0.2%	$210.43	+4.3%	COM	235851102
NKE	NIKE INC	860,469 (+129.7%)	$54,820 (+109.9%)	0.2%	$68.77	-5.6%	CL B	654106103
AA	ALCOA CORP	1,074,394 (+9.8%)	$57,093 (+77.4%)	0.2%	$32.90	+24.3%	COM	013872106
CRM	SALESFORCE INC	683,790 (+3.7%)	$181,143 (+15.9%)	0.6%	$252.31	-1.6%	COM	79466L302
VNET	VNET GROUP INC	3,253,150 (+988.7%)	$27,522 (+791.6%)	0.1%	$8.63	—	SPONSORED ADS A	90138A103
TECK	TECK RESOURCES LTD	5,307,384 (+1.1%)	$254,171 (+10.3%)	0.8%	$40.18	+7.8%	CL B	878742204
SE	SEA LTD	3,303,217 (+33.5%)	$421,391 (-4.7%)	1.3%	$115.07	—	SPONSORD ADS	81141R100
TME	TENCENT MUSIC ENTMT GROUP	2,559,173 (+145.7%)	$44,862 (+84.5%)	0.1%	$19.89	—	SPON ADS	88034P109
WMT	WALMART INC	435,062 (+28.9%)	$48,470 (+39.3%)	0.2%	$87.55	+22.4%	COM	931142103
WRD	WERIDE INC	2,978,803 (+119.7%)	$25,856 (+92.7%)	0.1%	$9.24	—	SPONSORED ADS	950915108
FLY	FIREFLY AEROSPACE INC	1,069,588 (+151.3%)	$23,927 (+91.7%)	0.1%	$31.82	-27.3%	COM	31816X106
CDNS	CADENCE DESIGN SYSTEM INC	178,576 (+40.5%)	$55,819 (+25.0%)	0.2%	$298.53	+9.3%	COM	127387108
PGR	PROGRESSIVE CORP	993,588 (+3.4%)	$226,260 (-4.6%)	0.7%	$242.46	-12.4%	COM	743315103
BZ	KANZHUN LIMITED	3,579,525 (+34.4%)	$72,951 (+17.3%)	0.2%	$18.27	—	SPONSORED ADS	48553T106
NTES	NETEASE INC	469,728 (+28.3%)	$64,644 (+16.2%)	0.2%	$104.79	—	SPONSORED ADS	64110W102
MRVL	MARVELL TECHNOLOGY INC	1,414,187 (+6.7%)	$120,178 (+7.9%)	0.4%	$70.02	+24.9%	COM	573874104
BEKE	KE HLDGS INC	3,047,357 (+40.7%)	$48,026 (+16.7%)	0.2%	$17.55	—	SPONSORED ADS	482497104
NOW	SERVICENOW INC	662,380 (+466.1%)	$101,470 (-5.8%)	0.3%	$166.90	+2.8%	COM	81762P102
NKE	NIKE INC	328,900 (+51.4%)	$20,954 (+38.3%)	0.1%	$68.77	-5.6%	CALL	654106103
WIX	WIX COM LTD	756,866 (+82.4%)	$78,631 (+6.7%)	0.2%	$137.14	-11.8%	SHS	M98068105
NFLX	NETFLIX INC	693,860 (+1283.0%)	$65,056 (+8.2%)	0.2%	$106.96	+0.8%	COM	64110L106
SNPS	SYNOPSYS INC	55,642 (+22.8%)	$26,136 (+16.9%)	0.1%	$479.15	-7.3%	COM	871607107
ESTC	ELASTIC N V	1,294,465 (+9.3%)	$97,654 (-2.5%)	0.3%	$84.13	-3.0%	ORD SHS	N14506104

Exited Positions (16)

TEAM ATLASSIAN CORPORATION 0.2%

Value ($000) $69,176 Shares 433,165 Est. Cost $180.93 Unrealized -13.3%

FSLR FIRST SOLAR INC 0.2%

Value ($000) $67,460 Shares 305,900 Est. Cost — Unrealized —

CCJ CAMECO CORP 0.2%

Value ($000) $61,345 Shares 731,519 Est. Cost $47.75 Unrealized +88.3%

DE DEERE & CO 0.2%

Value ($000) $48,668 Shares 106,435 Est. Cost $489.64 Unrealized -4.5%

MSFT MICROSOFT CORP 0.1%

Value ($000) $30,300 Shares 58,500 Est. Cost $426.13 Unrealized +17.5%

LLY ELI LILLY & CO 0.1%

Value ($000) $20,830 Shares 27,300 Est. Cost $812.60 Unrealized +17.6%

PINS PINTEREST INC 0.1%

Value ($000) $20,442 Shares 635,441 Est. Cost $36.26 Unrealized -20.6%

PINS PINTEREST INC 0.1%

Value ($000) $18,112 Shares 563,000 Est. Cost $36.26 Unrealized -20.6%

ABBV ABBVIE INC 0.0%

Value ($000) $15,738 Shares 67,969 Est. Cost $175.20 Unrealized +29.9%

JPM JPMORGAN CHASE & CO. 0.0%

Value ($000) $15,730 Shares 49,870 Est. Cost $200.81 Unrealized +54.1%

MNST MONSTER BEVERAGE CORP NEW 0.0%

Value ($000) $14,305 Shares 212,528 Est. Cost $61.64 Unrealized +16.2%

ICE INTERCONTINENTAL EXCHANGE IN 0.0%

Value ($000) $12,140 Shares 72,058 Est. Cost $173.19 Unrealized -9.8%

CTAS CINTAS CORP 0.0%

Value ($000) $12,135 Shares 59,120 Est. Cost $213.62 Unrealized -11.9%

PANW PALO ALTO NETWORKS INC 0.0%

Value ($000) $7,210 Shares 35,410 Est. Cost $188.12 Unrealized +7.2%

ADP AUTOMATIC DATA PROCESSING IN 0.0%

Value ($000) $6,341 Shares 21,605 Est. Cost $260.52 Unrealized +1.7%

RACE FERRARI N V 0.0%

Value ($000) $5,446 Shares 11,223 Est. Cost $448.42 Unrealized -10.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TEAM	ATLASSIAN CORPORATION	433,165	$69,176	0.2%	$180.93	-13.3%	—	049468101
FSLR	FIRST SOLAR INC	305,900	$67,460	0.2%	—	—	CALL	336433107
CCJ	CAMECO CORP	731,519	$61,345	0.2%	$47.75	+88.3%	—	13321L108
DE	DEERE & CO	106,435	$48,668	0.2%	$489.64	-4.5%	—	244199105
MSFT	MICROSOFT CORP	58,500	$30,300	0.1%	$426.13	+17.5%	CALL	594918104
LLY	ELI LILLY & CO	27,300	$20,830	0.1%	$812.60	+17.6%	CALL	532457108
PINS	PINTEREST INC	635,441	$20,442	0.1%	$36.26	-20.6%	—	72352L106
PINS	PINTEREST INC	563,000	$18,112	0.1%	$36.26	-20.6%	PUT	72352L106
ABBV	ABBVIE INC	67,969	$15,738	0.0%	$175.20	+29.9%	—	00287Y109
JPM	JPMORGAN CHASE & CO.	49,870	$15,730	0.0%	$200.81	+54.1%	—	46625H100
MNST	MONSTER BEVERAGE CORP NEW	212,528	$14,305	0.0%	$61.64	+16.2%	—	61174X109
ICE	INTERCONTINENTAL EXCHANGE IN	72,058	$12,140	0.0%	$173.19	-9.8%	—	45866F104
CTAS	CINTAS CORP	59,120	$12,135	0.0%	$213.62	-11.9%	—	172908105
PANW	PALO ALTO NETWORKS INC	35,410	$7,210	0.0%	$188.12	+7.2%	—	697435105
ADP	AUTOMATIC DATA PROCESSING IN	21,605	$6,341	0.0%	$260.52	+1.7%	—	053015103
RACE	FERRARI N V	11,223	$5,446	0.0%	$448.42	-10.8%	—	N3167Y103

Decreased Positions (24)

BABA ALIBABA GROUP HLDG LTD 0.6%

Value ($000) $192,498 (-41.8%) Shares 1,313,262 (-29.0%) Est. Cost $93.39 Unrealized —

CRS CARPENTER TECHNOLOGY CORP 0.1%

Value ($000) $42,189 (-71.2%) Shares 134,002 (-77.6%) Est. Cost $251.19 Unrealized +19.7%

ZTO ZTO EXPRESS CAYMAN INC 0.4%

Value ($000) $130,776 (-34.7%) Shares 6,260,241 (-40.0%) Est. Cost $12.07 Unrealized —

HTHT H WORLD GROUP LTD 0.4%

Value ($000) $123,408 (-35.8%) Shares 2,622,902 (-46.6%) Est. Cost $35.96 Unrealized —

INTU INTUIT 0.2%

Value ($000) $69,050 (-49.6%) Shares 104,239 (-48.0%) Est. Cost $650.23 Unrealized +1.6%

ORCL ORACLE CORP 0.0%

Value ($000) $3,326 (-95.3%) Shares 17,065 (-93.2%) Est. Cost $161.82 Unrealized +47.1%

ONC BEONE MEDICINES LTD 0.9%

Value ($000) $279,380 (-18.9%) Shares 919,587 (-9.1%) Est. Cost $147.39 Unrealized —

ETN EATON CORP PLC 0.1%

Value ($000) $15,894 (-77.7%) Shares 49,901 (-73.8%) Est. Cost $308.95 Unrealized +14.7%

FLYW FLYWIRE CORPORATION 0.3%

Value ($000) $90,495 (-23.0%) Shares 6,390,857 (-26.4%) Est. Cost $33.54 Unrealized -59.2%

DT DYNATRACE INC 0.2%

Value ($000) $72,396 (-24.9%) Shares 1,670,417 (-16.0%) Est. Cost $49.62 Unrealized -6.1%

TMO THERMO FISHER SCIENTIFIC INC 1.6%

Value ($000) $516,532 (-3.8%) Shares 891,418 (-19.5%) Est. Cost $279.38 Unrealized +102.3%

PAYO PAYONEER GLOBAL INC 0.1%

Value ($000) $42,118 (-31.4%) Shares 7,494,353 (-26.2%) Est. Cost $10.19 Unrealized -43.2%

LLY ELI LILLY & CO 0.4%

Value ($000) $126,648 (+17.2%) Shares 117,847 (-16.8%) Est. Cost $812.60 Unrealized +17.6%

SES SES AI CORPORATION 0.0%

Value ($000) $5,689 (-73.1%) Shares 3,160,712 (-75.1%) Est. Cost $7.54 Unrealized -70.3%

QCOM QUALCOMM INC 0.0%

Value ($000) $8,034 (-61.4%) Shares 46,971 (-62.5%) Est. Cost $157.20 Unrealized +8.6%

CRS CARPENTER TECHNOLOGY CORP 0.1%

Value ($000) $29,280 (-29.0%) Shares 93,000 (-44.6%) Est. Cost $251.19 Unrealized +19.7%

CMG CHIPOTLE MEXICAN GRILL INC 0.0%

Value ($000) $9,458 (-54.3%) Shares 255,622 (-51.6%) Est. Cost $52.40 Unrealized -31.0%

GLBE GLOBAL E ONLINE LTD 0.3%

Value ($000) $82,423 (-7.5%) Shares 2,096,739 (-15.8%) Est. Cost $29.40 Unrealized +26.2%

GE GE AEROSPACE 0.4%

Value ($000) $129,074 (-4.7%) Shares 419,029 (-7.0%) Est. Cost $186.82 Unrealized +61.0%

YUMC YUM CHINA HLDGS INC 0.6%

Value ($000) $193,596 (-3.1%) Shares 4,055,217 (-12.9%) Est. Cost $43.87 Unrealized +4.4%

AAPL APPLE INC 0.6%

Value ($000) $181,114 (+1.5%) Shares 666,203 (-4.9%) Est. Cost $210.48 Unrealized +27.5%

COST COSTCO WHSL CORP NEW 0.0%

Value ($000) $10,387 (-17.3%) Shares 12,045 (-11.2%) Est. Cost $803.81 Unrealized +12.7%

CTSH COGNIZANT TECHNOLOGY SOLUTIO 0.2%

Value ($000) $56,028 (+1.5%) Shares 675,035 (-18.0%) Est. Cost $71.83 Unrealized +3.9%

IOT SAMSARA INC 0.0%

Value ($000) $1,412 (-33.4%) Shares 39,821 (-30.1%) Est. Cost $41.33 Unrealized -6.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BABA	ALIBABA GROUP HLDG LTD	1,313,262 (-29.0%)	$192,498 (-41.8%)	0.6%	$93.39	—	SPONSORED ADS	01609W102
CRS	CARPENTER TECHNOLOGY CORP	134,002 (-77.6%)	$42,189 (-71.2%)	0.1%	$251.19	+19.7%	COM	144285103
ZTO	ZTO EXPRESS CAYMAN INC	6,260,241 (-40.0%)	$130,776 (-34.7%)	0.4%	$12.07	—	SPONSORED ADS A	98980A105
HTHT	H WORLD GROUP LTD	2,622,902 (-46.6%)	$123,408 (-35.8%)	0.4%	$35.96	—	SPONSORED ADS	44332N106
INTU	INTUIT	104,239 (-48.0%)	$69,050 (-49.6%)	0.2%	$650.23	+1.6%	COM	461202103
ORCL	ORACLE CORP	17,065 (-93.2%)	$3,326 (-95.3%)	0.0%	$161.82	+47.1%	COM	68389X105
ONC	BEONE MEDICINES LTD	919,587 (-9.1%)	$279,380 (-18.9%)	0.9%	$147.39	—	SPONSORED ADS	07725L102
ETN	EATON CORP PLC	49,901 (-73.8%)	$15,894 (-77.7%)	0.1%	$308.95	+14.7%	SHS	G29183103
FLYW	FLYWIRE CORPORATION	6,390,857 (-26.4%)	$90,495 (-23.0%)	0.3%	$33.54	-59.2%	COM VTG	302492103
DT	DYNATRACE INC	1,670,417 (-16.0%)	$72,396 (-24.9%)	0.2%	$49.62	-6.1%	COM NEW	268150109
TMO	THERMO FISHER SCIENTIFIC INC	891,418 (-19.5%)	$516,532 (-3.8%)	1.6%	$279.38	+102.3%	COM	883556102
PAYO	PAYONEER GLOBAL INC	7,494,353 (-26.2%)	$42,118 (-31.4%)	0.1%	$10.19	-43.2%	COM	70451X104
LLY	ELI LILLY & CO	117,847 (-16.8%)	$126,648 (+17.2%)	0.4%	$812.60	+17.6%	COM	532457108
SES	SES AI CORPORATION	3,160,712 (-75.1%)	$5,689 (-73.1%)	0.0%	$7.54	-70.3%	CL A COM	78397Q109
QCOM	QUALCOMM INC	46,971 (-62.5%)	$8,034 (-61.4%)	0.0%	$157.20	+8.6%	COM	747525103
CRS	CARPENTER TECHNOLOGY CORP	93,000 (-44.6%)	$29,280 (-29.0%)	0.1%	$251.19	+19.7%	PUT	144285103
CMG	CHIPOTLE MEXICAN GRILL INC	255,622 (-51.6%)	$9,458 (-54.3%)	0.0%	$52.40	-31.0%	COM	169656105
GLBE	GLOBAL E ONLINE LTD	2,096,739 (-15.8%)	$82,423 (-7.5%)	0.3%	$29.40	+26.2%	SHS	M5216V106
GE	GE AEROSPACE	419,029 (-7.0%)	$129,074 (-4.7%)	0.4%	$186.82	+61.0%	COM NEW	369604301
YUMC	YUM CHINA HLDGS INC	4,055,217 (-12.9%)	$193,596 (-3.1%)	0.6%	$43.87	+4.4%	COM	98850P109
AAPL	APPLE INC	666,203 (-4.9%)	$181,114 (+1.5%)	0.6%	$210.48	+27.5%	COM	037833100
COST	COSTCO WHSL CORP NEW	12,045 (-11.2%)	$10,387 (-17.3%)	0.0%	$803.81	+12.7%	COM	22160K105
CTSH	COGNIZANT TECHNOLOGY SOLUTIO	675,035 (-18.0%)	$56,028 (+1.5%)	0.2%	$71.83	+3.9%	CL A	192446102
IOT	SAMSARA INC	39,821 (-30.1%)	$1,412 (-33.4%)	0.0%	$41.33	-6.3%	COM CL A	79589L106

Unchanged Positions (35)

BLK BLACKROCK INC 17.3%

Value ($000) $5,451,054 Shares 5,092,825 Est. Cost $991.05 Unrealized +9.9%

RBLX ROBLOX CORP 2.0%

Value ($000) $630,232 Shares 7,777,760 Est. Cost $61.94 Unrealized +71.4%

DASH DOORDASH INC 1.7%

Value ($000) $524,623 Shares 2,316,423 Est. Cost $154.38 Unrealized +51.9%

INTA INTAPP INC 2.5%

Value ($000) $785,667 Shares 17,146,805 Est. Cost $28.00 Unrealized +48.1%

TPG TPG INC 1.8%

Value ($000) $561,255 Shares 8,791,581 Est. Cost $45.37 Unrealized +30.1%

GH GUARDANT HEALTH INC 0.3%

Value ($000) $106,644 Shares 1,044,097 Est. Cost $30.84 Unrealized +190.1%

ABNB AIRBNB INC 1.0%

Value ($000) $301,596 Shares 2,222,194 Est. Cost $143.30 Unrealized -13.1%

HDB HDFC BANK LTD 1.3%

Value ($000) $397,313 Shares 10,873,380 Est. Cost $54.36 Unrealized —

ZGN ERMENEGILDO ZEGNA N V 0.9%

Value ($000) $279,233 Shares 27,242,276 Est. Cost $8.40 Unrealized +21.5%

MA MASTERCARD INCORPORATED 5.0%

Value ($000) $1,580,891 Shares 2,769,218 Est. Cost $292.11 Unrealized +91.4%

DSGX DESCARTES SYS GROUP INC 0.4%

Value ($000) $128,349 Shares 1,464,165 Est. Cost $104.22 Unrealized -14.2%

BZAI BLAIZE HLDGS INC 0.0%

Value ($000) $12,388 Shares 6,353,023 Est. Cost $5.51 Unrealized -41.3%

GEHC GE HEALTHCARE TECHNOLOGIES I 0.3%

Value ($000) $108,126 Shares 1,318,290 Est. Cost $74.54 Unrealized +4.5%

FCX FREEPORT-MCMORAN INC 0.1%

Value ($000) $30,637 Shares 603,209 Est. Cost $46.87 Unrealized -7.6%

SCCO SOUTHERN COPPER CORP 0.1%

Value ($000) $35,274 Shares 245,860 Est. Cost $100.48 Unrealized +32.1%

BNTX BIONTECH SE 0.5%

Value ($000) $143,374 Shares 1,506,027 Est. Cost $126.23 Unrealized —

ERO ERO COPPER CORP 0.0%

Value ($000) $13,400 Shares 473,660 Est. Cost $19.92 Unrealized +16.9%

HBM HUDBAY MINERALS INC 0.1%

Value ($000) $15,890 Shares 800,528 Est. Cost $8.51 Unrealized +98.8%

XPEV XPENG INC 0.1%

Value ($000) $24,225 Shares 1,194,538 Est. Cost $17.88 Unrealized —

MRSH MARSH & MCLENNAN COS INC 0.1%

Value ($000) $32,523 Shares 175,306 Est. Cost $219.69 Unrealized -15.1%

MSCI MSCI INC 0.6%

Value ($000) $195,287 Shares 340,382 Est. Cost $508.08 Unrealized +10.2%

PEP PEPSICO INC 0.3%

Value ($000) $80,002 Shares 557,426 Est. Cost $139.97 Unrealized +4.2%

U UNITY SOFTWARE INC 0.0%

Value ($000) $15,406 Shares 348,800 Est. Cost $37.35 Unrealized +9.1%

PGY PAGAYA TECHNOLOGIES LTD 0.0%

Value ($000) $3,011 Shares 144,068 Est. Cost $32.30 Unrealized -21.1%

JPST J P MORGAN EXCHANGE TRADED F 0.9%

Value ($000) $299,467 Shares 5,919,494 Est. Cost $50.73 Unrealized —

SCHP SCHWAB STRATEGIC TR 0.1%

Value ($000) $37,351 Shares 1,410,000 Est. Cost $39.13 Unrealized —

BSLK BOLT PROJS HLDGS INC 0.0%

Value ($000) $99 Shares 123,593 Est. Cost $4.41 Unrealized -46.6%

MRVL MARVELL TECHNOLOGY INC 0.1%

Value ($000) $33,083 Shares 389,300 Est. Cost $70.02 Unrealized +24.9%

ICSH ISHARES TR 0.3%

Value ($000) $99,842 Shares 1,973,943 Est. Cost $50.75 Unrealized —

KDP KEURIG DR PEPPER INC 0.0%

Value ($000) $2,796 Shares 99,805 Est. Cost $28.13 Unrealized -3.2%

OS ONESTREAM INC 0.2%

Value ($000) $78,422 Shares 4,266,714 Est. Cost $24.63 Unrealized -22.6%

TSLA TESLA INC 0.0%

Value ($000) $15,718 Shares 34,950 Est. Cost $204.62 Unrealized +116.6%

GTLB GITLAB INC 0.0%

Value ($000) $807 Shares 21,494 Est. Cost $45.75 Unrealized -5.4%

PONY PONY AI INC 0.0%

Value ($000) $210 Shares 14,510 Est. Cost $22.49 Unrealized —

TTAN SERVICETITAN INC 0.0%

Value ($000) $1,378 Shares 12,937 Est. Cost $111.77 Unrealized -12.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BLK	BLACKROCK INC	5,092,825	$5,451,054	17.3%	$991.05	+9.9%	COM	09290D101
RBLX	ROBLOX CORP	7,777,760	$630,232	2.0%	$61.94	+71.4%	CL A	771049103
DASH	DOORDASH INC	2,316,423	$524,623	1.7%	$154.38	+51.9%	CL A	25809K105
INTA	INTAPP INC	17,146,805	$785,667	2.5%	$28.00	+48.1%	COM	45827U109
TPG	TPG INC	8,791,581	$561,255	1.8%	$45.37	+30.1%	COM CL A	872657101
GH	GUARDANT HEALTH INC	1,044,097	$106,644	0.3%	$30.84	+190.1%	COM	40131M109
ABNB	AIRBNB INC	2,222,194	$301,596	1.0%	$143.30	-13.1%	COM CL A	009066101
HDB	HDFC BANK LTD	10,873,380	$397,313	1.3%	$54.36	—	SPONSORED ADS	40415F101
ZGN	ERMENEGILDO ZEGNA N V	27,242,276	$279,233	0.9%	$8.40	+21.5%	ORD SHS	N30577105
MA	MASTERCARD INCORPORATED	2,769,218	$1,580,891	5.0%	$292.11	+91.4%	CL A	57636Q104
DSGX	DESCARTES SYS GROUP INC	1,464,165	$128,349	0.4%	$104.22	-14.2%	COM	249906108
BZAI	BLAIZE HLDGS INC	6,353,023	$12,388	0.0%	$5.51	-41.3%	COM	092915107
GEHC	GE HEALTHCARE TECHNOLOGIES I	1,318,290	$108,126	0.3%	$74.54	+4.5%	COMMON STOCK	36266G107
FCX	FREEPORT-MCMORAN INC	603,209	$30,637	0.1%	$46.87	-7.6%	CL B	35671D857
SCCO	SOUTHERN COPPER CORP	245,860	$35,274	0.1%	$100.48	+32.1%	COM	84265V105
BNTX	BIONTECH SE	1,506,027	$143,374	0.5%	$126.23	—	SPONSORED ADS	09075V102
ERO	ERO COPPER CORP	473,660	$13,400	0.0%	$19.92	+16.9%	COM	296006109
HBM	HUDBAY MINERALS INC	800,528	$15,890	0.1%	$8.51	+98.8%	COM	443628102
XPEV	XPENG INC	1,194,538	$24,225	0.1%	$17.88	—	ADS	98422D105
MRSH	MARSH & MCLENNAN COS INC	175,306	$32,523	0.1%	$219.69	-15.1%	COM	571748102
MSCI	MSCI INC	340,382	$195,287	0.6%	$508.08	+10.2%	COM	55354G100
PEP	PEPSICO INC	557,426	$80,002	0.3%	$139.97	+4.2%	COM	713448108
U	UNITY SOFTWARE INC	348,800	$15,406	0.0%	$37.35	+9.1%	CALL	91332U101
PGY	PAGAYA TECHNOLOGIES LTD	144,068	$3,011	0.0%	$32.30	-21.1%	CL A NEW	M7S64L123
JPST	J P MORGAN EXCHANGE TRADED F	5,919,494	$299,467	0.9%	$50.73	—	ULTRA SHRT ETF	46641Q837
SCHP	SCHWAB STRATEGIC TR	1,410,000	$37,351	0.1%	$39.13	—	US TIPS ETF	808524870
BSLK	BOLT PROJS HLDGS INC	123,593	$99	0.0%	$4.41	-46.6%	COM NEW	09769B206
MRVL	MARVELL TECHNOLOGY INC	389,300	$33,083	0.1%	$70.02	+24.9%	PUT	573874104
ICSH	ISHARES TR	1,973,943	$99,842	0.3%	$50.75	—	ULTRA SHORT DUR	46434V878
KDP	KEURIG DR PEPPER INC	99,805	$2,796	0.0%	$28.13	-3.2%	COM	49271V100
OS	ONESTREAM INC	4,266,714	$78,422	0.2%	$24.63	-22.6%	CL A	68278B107
TSLA	TESLA INC	34,950	$15,718	0.0%	$204.62	+116.6%	COM	88160R101
GTLB	GITLAB INC	21,494	$807	0.0%	$45.75	-5.4%	CLASS A COM	37637K108
PONY	PONY AI INC	14,510	$210	0.0%	$22.49	—	SPONSORED ADS	732908108
TTAN	SERVICETITAN INC	12,937	$1,378	0.0%	$111.77	-12.6%	SHS CL A	81764X103