Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPYM	SPDR SERIES TRUST	142,160	$12.49M	2.8%	$87.88	—	ST STR P500ETF	78464A854
QQQM	INVESCO EXCH TRADED FD TR II	28,936	$8.767M	2.0%	$302.97	—	NASDAQ 100 ETF	46138G649
IEUR	ISHARES TR	107,970	$8.116M	1.8%	$75.17	—	CORE MSCI EURO	46434V738
SOXX	ISHARES TR	6,720	$4.306M	1.0%	$640.76	—	ISHARES SEMICDTR	464287523
VOO	VANGUARD INDEX FDS	6,060	$4.162M	0.9%	$686.81	—	S&P 500 ETF SHS	922908363
LITE	LUMENTUM HLDGS INC	2,827	$2.426M	0.5%	$858.06	—	COM	55024U109
GS	GOLDMAN SACHS GROUP INC	1,658	$1.677M	0.4%	$1011.37	—	COM	38141G104
ITT	ITT INC	7,448	$1.473M	0.3%	$197.76	—	COM	45073V108
GNRC	GENERAC HLDGS INC	5,005	$1.466M	0.3%	$292.81	—	COM	368736104
BUD	ANHEUSER BUSCH INBEV SA NV	13,781	$1.136M	0.3%	$82.40	—	SPONSORED ADR	03524A108
NVT	NVENT ELEC PLC	5,693	$966K	0.2%	$169.61	—	SHS	G6700G107
STM	STMICROELECTRONICS N V	7,000	$524K	0.1%	$74.89	—	NY REGISTRY	861012102
XLE	SELECT SECTOR SPDR TR	8,000	$425K	0.1%	$53.11	—	ST STR ENERG ETF	81369Y506
FOTO	ETF OPPORTUNITIES TRUST	12,653	$297K	0.1%	$23.48	—	TUTTLE CAPITAL	26923V597
MCD	MCDONALDS CORP	1,047	$283K	0.1%	$270.31	—	COM	580135101

Increased Positions (10)

AVGO BROADCOM INC 0.7%

Value $3.248M (+588.9%) Shares 8,597 (+464.5%) Est. Cost $339.52 Unrealized —

GLW CORNING INC 0.7%

Value $3.189M (+369.0%) Shares 12,483 (+149.7%) Est. Cost $197.85 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.9%

Value $4.099M (+88.3%) Shares 8,582 (+33.3%) Est. Cost $358.76 Unrealized —

NVDA NVIDIA CORPORATION 1.0%

Value $4.391M (+68.6%) Shares 21,945 (+46.9%) Est. Cost $158.77 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.5%

Value $2.234M (+242.9%) Shares 3,845 (+20.1%) Est. Cost $281.77 Unrealized —

ADI ANALOG DEVICES INC 0.3%

Value $1.24M (+83.7%) Shares 3,121 (+47.1%) Est. Cost $274.09 Unrealized —

KRE SPDR SERIES TRUST 0.5%

Value $2.195M (+22.9%) Shares 29,324 (+7.0%) Est. Cost $65.78 Unrealized —

REMX VANECK ETF TRUST 0.2%

Value $1.036M (+55.0%) Shares 11,706 (+54.1%) Est. Cost $88.18 Unrealized —

FXI ISHARES TR 0.4%

Value $1.891M (-7.8%) Shares 59,853 (+4.8%) Est. Cost $35.70 Unrealized —

VRP INVESCO EXCH TRADED FD TR II 0.5%

Value $2.204M (+3.7%) Shares 90,652 (+2.3%) Est. Cost $23.99 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	8,597 (+464.5%)	$3.248M (+588.9%)	0.7%	$339.52	—	COM	11135F101
GLW	CORNING INC	12,483 (+149.7%)	$3.189M (+369.0%)	0.7%	$197.85	—	COM	219350105
TSM	TAIWAN SEMICONDUCTOR MANUFAC	8,582 (+33.3%)	$4.099M (+88.3%)	0.9%	$358.76	—	SPONSORED ADS	874039100
NVDA	NVIDIA CORPORATION	21,945 (+46.9%)	$4.391M (+68.6%)	1.0%	$158.77	—	COM	67066G104
AMD	ADVANCED MICRO DEVICES INC	3,845 (+20.1%)	$2.234M (+242.9%)	0.5%	$281.77	—	COM	007903107
ADI	ANALOG DEVICES INC	3,121 (+47.1%)	$1.24M (+83.7%)	0.3%	$274.09	—	COM	032654105
KRE	SPDR SERIES TRUST	29,324 (+7.0%)	$2.195M (+22.9%)	0.5%	$65.78	—	ST STR SP REGBNK	78464A698
REMX	VANECK ETF TRUST	11,706 (+54.1%)	$1.036M (+55.0%)	0.2%	$88.18	—	RARE EAR STR ETF	92189H805
FXI	ISHARES TR	59,853 (+4.8%)	$1.891M (-7.8%)	0.4%	$35.70	—	CHINA LG-CAP ETF	464287184
VRP	INVESCO EXCH TRADED FD TR II	90,652 (+2.3%)	$2.204M (+3.7%)	0.5%	$23.99	—	VAR RATE PFD	46138G870

Exited Positions (8)

XME SPDR SERIES TRUST 0.8%

Value $3.571M Shares 33,059 Est. Cost $108.01 Unrealized —

PDD PDD HOLDINGS INC 0.5%

Value $2.175M Shares 21,289 Est. Cost $107.99 Unrealized —

FUTU FUTU HLDGS LTD 0.3%

Value $1.39M Shares 10,161 Est. Cost $136.76 Unrealized —

XBI SPDR SERIES TRUST 0.2%

Value $935K Shares 7,323 Est. Cost $127.73 Unrealized —

SPGI S&P GLOBAL INC 0.1%

Value $530K Shares 1,245 Est. Cost $394.61 Unrealized —

AZN ASTRAZENECA PLC 0.1%

Value $479K Shares 2,427 Est. Cost $190.39 Unrealized —

BBJP J P MORGAN EXCHANGE TRADED F 0.1%

Value $336K Shares 4,870 Est. Cost $68.91 Unrealized —

TTMI TTM TECHNOLOGIES INC 0.1%

Value $244K Shares 2,500 Est. Cost $65.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XME	SPDR SERIES TRUST	33,059	$3.571M	0.8%	$108.01	—	—	78464A755
PDD	PDD HOLDINGS INC	21,289	$2.175M	0.5%	$107.99	—	—	722304102
FUTU	FUTU HLDGS LTD	10,161	$1.39M	0.3%	$136.76	—	—	36118L106
XBI	SPDR SERIES TRUST	7,323	$935K	0.2%	$127.73	—	—	78464A870
SPGI	S&P GLOBAL INC	1,245	$530K	0.1%	$394.61	—	—	78409V104
AZN	ASTRAZENECA PLC	2,427	$479K	0.1%	$190.39	—	—	G0593M107
BBJP	J P MORGAN EXCHANGE TRADED F	4,870	$336K	0.1%	$68.91	—	—	46641Q217
TTMI	TTM TECHNOLOGIES INC	2,500	$244K	0.1%	$65.27	—	—	87305R109

Decreased Positions (16)

BFLY BUTTERFLY NETWORK INC 19.3%

Value $86.18M (+99.0%) Shares 10,234,923 (-4.5%) Est. Cost $19.79 Unrealized —

CHA CHAGEE HLDGS LTD 12.2%

Value $54.45M (-36.8%) Shares 5,848,854 (-21.1%) Est. Cost $11.70 Unrealized —

GDX VANECK ETF TRUST 0.7%

Value $3.267M (-62.4%) Shares 43,304 (-54.2%) Est. Cost $91.77 Unrealized —

MSFT MICROSOFT CORP 0.1%

Value $485K (-86.2%) Shares 1,300 (-86.3%) Est. Cost $349.77 Unrealized —

HSAI HESAI GROUP 0.0%

Value $212K (-91.9%) Shares 11,633 (-91.5%) Est. Cost $26.74 Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.1%

Value $310K (-85.3%) Shares 3,226 (-80.7%) Est. Cost $121.62 Unrealized —

ASHR DBX ETF TR 4.2%

Value $18.77M (+10.5%) Shares 511,946 (-1.6%) Est. Cost $26.61 Unrealized —

UNH UNITEDHEALTH GROUP INC 0.1%

Value $643K (-64.6%) Shares 1,548 (-76.9%) Est. Cost $441.14 Unrealized —

SNPS SYNOPSYS INC 0.1%

Value $431K (-70.3%) Shares 966 (-73.6%) Est. Cost $485.80 Unrealized —

NDAQ NASDAQ INC 0.2%

Value $854K (-50.6%) Shares 10,834 (-46.8%) Est. Cost $91.74 Unrealized —

INTC INTEL CORP 0.3%

Value $1.253M (+146.2%) Shares 8,974 (-22.2%) Est. Cost $46.43 Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.3%

Value $1.457M (+101.5%) Shares 4,890 (-33.0%) Est. Cost $68.03 Unrealized —

QTUM ETF SER SOLUTIONS 0.3%

Value $1.314M (+34.3%) Shares 7,943 (-12.9%) Est. Cost $107.30 Unrealized —

GOOGL ALPHABET INC 0.9%

Value $3.836M (+5.0%) Shares 10,735 (-15.5%) Est. Cost $135.58 Unrealized —

EWY ISHARES INC 0.1%

Value $616K (+28.2%) Shares 3,051 (-21.9%) Est. Cost $123.01 Unrealized —

BIDU BAIDU INC 0.1%

Value $643K (-17.4%) Shares 5,629 (-19.5%) Est. Cost $111.42 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BFLY	BUTTERFLY NETWORK INC	10,234,923 (-4.5%)	$86.18M (+99.0%)	19.3%	$19.79	—	COM CL A	124155102
CHA	CHAGEE HLDGS LTD	5,848,854 (-21.1%)	$54.45M (-36.8%)	12.2%	$11.70	—	SPONSORED ADS	15743P104
GDX	VANECK ETF TRUST	43,304 (-54.2%)	$3.267M (-62.4%)	0.7%	$91.77	—	GOLD MINERS ETF	92189F106
MSFT	MICROSOFT CORP	1,300 (-86.3%)	$485K (-86.2%)	0.1%	$349.77	—	COM	594918104
HSAI	HESAI GROUP	11,633 (-91.5%)	$212K (-91.9%)	0.0%	$26.74	—	SPONSORED ADS	428050108
BABA	ALIBABA GROUP HLDG LTD	3,226 (-80.7%)	$310K (-85.3%)	0.1%	$121.62	—	SPONSORED ADS	01609W102
ASHR	DBX ETF TR	511,946 (-1.6%)	$18.77M (+10.5%)	4.2%	$26.61	—	XTRACK HRVST CSI	233051879
UNH	UNITEDHEALTH GROUP INC	1,548 (-76.9%)	$643K (-64.6%)	0.1%	$441.14	—	COM	91324P102
SNPS	SYNOPSYS INC	966 (-73.6%)	$431K (-70.3%)	0.1%	$485.80	—	COM	871607107
NDAQ	NASDAQ INC	10,834 (-46.8%)	$854K (-50.6%)	0.2%	$91.74	—	COM	631103108
INTC	INTEL CORP	8,974 (-22.2%)	$1.253M (+146.2%)	0.3%	$46.43	—	COM	458140100
MRVL	MARVELL TECHNOLOGY INC	4,890 (-33.0%)	$1.457M (+101.5%)	0.3%	$68.03	—	COM	573874104
QTUM	ETF SER SOLUTIONS	7,943 (-12.9%)	$1.314M (+34.3%)	0.3%	$107.30	—	DEFIA QUANT ETF	26922A420
GOOGL	ALPHABET INC	10,735 (-15.5%)	$3.836M (+5.0%)	0.9%	$135.58	—	CAP STK CL A	02079K305
EWY	ISHARES INC	3,051 (-21.9%)	$616K (+28.2%)	0.1%	$123.01	—	MSCI STH KOR ETF	464286772
BIDU	BAIDU INC	5,629 (-19.5%)	$643K (-17.4%)	0.1%	$111.42	—	SPON ADR REP A	056752108

Unchanged Positions (32)

LANV LANVIN GROUP HOLDINGS LIMITED 29.6%

Value $132M Shares 90,334,215 Est. Cost $9.04 Unrealized —

JG AURORA MOBILE LTD 0.4%

Value $1.904M Shares 405,199 Est. Cost $2.85 Unrealized —

AIQ GLOBAL X FDS 0.6%

Value $2.735M Shares 41,689 Est. Cost $46.67 Unrealized —

HYPR HYPERFINE INC 0.5%

Value $2.352M Shares 1,742,020 Est. Cost $9.78 Unrealized —

NFLX NETFLIX INC. 0.2%

Value $1.037M Shares 14,526 Est. Cost $83.84 Unrealized —

CAT CATERPILLAR INC 0.2%

Value $1.041M Shares 978 Est. Cost $684.39 Unrealized —

IWM ISHARES TR 0.4%

Value $1.865M Shares 6,208 Est. Cost $248.00 Unrealized —

AMZN AMAZON COM INC 0.6%

Value $2.664M Shares 11,177 Est. Cost $214.41 Unrealized —

MSDL MORGAN STANLEY DIRECT LENDIN 0.8%

Value $3.634M Shares 240,374 Est. Cost $16.39 Unrealized —

ASML ASML HLDG NV 0.2%

Value $696K Shares 350 Est. Cost $1320.83 Unrealized —

— KKR & CO INC 4.5%

Value $20.2M Shares 50,700,000 Est. Cost $0.48 Unrealized —

— ARES MANAGEMENT CORPORATION 2.9%

Value $13.09M Shares 35,720,000 Est. Cost $0.47 Unrealized —

ROK ROCKWELL AUTOMATION INC 0.1%

Value $550K Shares 1,110 Est. Cost $410.26 Unrealized —

MS MORGAN STANLEY 0.2%

Value $706K Shares 3,377 Est. Cost $179.67 Unrealized —

ABBV ABBVIE INC 0.2%

Value $961K Shares 3,817 Est. Cost $204.85 Unrealized —

OXY OCCIDENTAL PETE CORP 0.1%

Value $299K Shares 6,158 Est. Cost $59.68 Unrealized —

QSI QUANTUM SI INC 0.1%

Value $658K Shares 743,935 Est. Cost $10.48 Unrealized —

V VISA INC 0.1%

Value $532K Shares 1,550 Est. Cost $191.58 Unrealized —

IQV IQVIA HLDGS INC 0.1%

Value $424K Shares 2,193 Est. Cost $210.16 Unrealized —

— GLOBAL PMTS INC 0.4%

Value $1.803M Shares 2,000,000 Est. Cost $0.90 Unrealized —

TECK TECK RESOURCES LTD 0.1%

Value $301K Shares 5,066 Est. Cost $47.62 Unrealized —

CRML CRITICAL METALS CORP 0.0%

Value $171K Shares 16,666 Est. Cost $13.15 Unrealized —

IXJ ISHARES TR 0.1%

Value $636K Shares 6,461 Est. Cost $97.45 Unrealized —

AJG GALLAGHER ARTHUR J & CO 0.1%

Value $476K Shares 2,075 Est. Cost $174.45 Unrealized —

WM WASTE MGMT INC DEL 0.2%

Value $836K Shares 3,749 Est. Cost $209.41 Unrealized —

— DEXCOM INC 0.4%

Value $1.873M Shares 2,000,000 Est. Cost $0.92 Unrealized —

— JD.COM INC 0.4%

Value $1.975M Shares 2,000,000 Est. Cost $1.00 Unrealized —

WFC WELLS FARGO & CO 0.1%

Value $522K Shares 6,316 Est. Cost $87.50 Unrealized —

KO COCA COLA CO 0.1%

Value $245K Shares 3,016 Est. Cost $64.97 Unrealized —

AON AON PLC 0.1%

Value $556K Shares 1,677 Est. Cost $361.30 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.1%

Value $414K Shares 826 Est. Cost $471.78 Unrealized —

DHR DANAHER CORP DEL 0.1%

Value $229K Shares 1,200 Est. Cost $220.19 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LANV	LANVIN GROUP HOLDINGS LIMITED	90,334,215	$132M	29.6%	$9.04	—	SHS	G5380J100
JG	AURORA MOBILE LTD	405,199	$1.904M	0.4%	$2.85	—	SPON ADS	051857209
AIQ	GLOBAL X FDS	41,689	$2.735M	0.6%	$46.67	—	ARTIFICIAL ETF	37954Y632
HYPR	HYPERFINE INC	1,742,020	$2.352M	0.5%	$9.78	—	COM CL A	44916K106
NFLX	NETFLIX INC.	14,526	$1.037M	0.2%	$83.84	—	COM	64110L106
CAT	CATERPILLAR INC	978	$1.041M	0.2%	$684.39	—	COM	149123101
IWM	ISHARES TR	6,208	$1.865M	0.4%	$248.00	—	RUSSELL 2000 ETF	464287655
AMZN	AMAZON COM INC	11,177	$2.664M	0.6%	$214.41	—	COM	023135106
MSDL	MORGAN STANLEY DIRECT LENDIN	240,374	$3.634M	0.8%	$16.39	—	COM SHS	61774A103
ASML	ASML HLDG NV	350	$696K	0.2%	$1320.83	—	N Y REGISTRY SHS	N07059210
—	KKR & CO INC	50,700,000	$20.2M	4.5%	$0.48	—	6.25 CON SER D	48251W500
—	ARES MANAGEMENT CORPORATION	35,720,000	$13.09M	2.9%	$0.47	—	6.75 SE B PFD	03990B309
ROK	ROCKWELL AUTOMATION INC	1,110	$550K	0.1%	$410.26	—	COM	773903109
MS	MORGAN STANLEY	3,377	$706K	0.2%	$179.67	—	COM NEW	617446448
ABBV	ABBVIE INC	3,817	$961K	0.2%	$204.85	—	COM	00287Y109
OXY	OCCIDENTAL PETE CORP	6,158	$299K	0.1%	$59.68	—	COM	674599105
QSI	QUANTUM SI INC	743,935	$658K	0.1%	$10.48	—	COM CL A	74765K105
V	VISA INC	1,550	$532K	0.1%	$191.58	—	COM CL A	92826C839
IQV	IQVIA HLDGS INC	2,193	$424K	0.1%	$210.16	—	COM	46266C105
—	GLOBAL PMTS INC	2,000,000	$1.803M	0.4%	$0.90	—	NOTE 1.500% 3/0	37940XAU6
TECK	TECK RESOURCES LTD	5,066	$301K	0.1%	$47.62	—	CL B	878742204
CRML	CRITICAL METALS CORP	16,666	$171K	0.0%	$13.15	—	PUBCO ORD SHS	G2662B103
IXJ	ISHARES TR	6,461	$636K	0.1%	$97.45	—	GLOB HLTHCRE ETF	464287325
AJG	GALLAGHER ARTHUR J & CO	2,075	$476K	0.1%	$174.45	—	COM	363576109
WM	WASTE MGMT INC DEL	3,749	$836K	0.2%	$209.41	—	COM	94106L109
—	DEXCOM INC	2,000,000	$1.873M	0.4%	$0.92	—	NOTE 0.375% 5/1	252131AM9
—	JD.COM INC	2,000,000	$1.975M	0.4%	$1.00	—	NOTE 0.250% 6/0	47215PAJ5
WFC	WELLS FARGO & CO	6,316	$522K	0.1%	$87.50	—	COM	949746101
KO	COCA COLA CO	3,016	$245K	0.1%	$64.97	—	COM	191216100
AON	AON PLC	1,677	$556K	0.1%	$361.30	—	SHS CL A	G0403H108
TMO	THERMO FISHER SCIENTIFIC INC	826	$414K	0.1%	$471.78	—	COM	883556102
DHR	DANAHER CORP DEL	1,200	$229K	0.1%	$220.19	—	COM	235851102