Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	DoorDash, Inc.	14,500,000	$14.36M	10.5%	—	—	Convertible Bond	25809KAB1
—	Cloudflare, Inc.	6,500,000	$8.245M	6.0%	—	—	Convertible Bond	18915MAF4
—	NCL CORP LTD	6,375,000	$7.175M	5.2%	—	—	Convertible Bond	62886HBT7
—	Rubrik, Inc.	4,500,000	$4.601M	3.4%	—	—	Convertible Bond	781154AD1
—	Oracle Corp	82,500	$3.725M	2.7%	—	—	Com	68389X204
—	Royal Caribbean Cruises Ltd.	10,900	$3.461M	2.5%	—	—	COM	LR0008862
—	Alphabet Inc.	63,000	$3.189M	2.3%	—	—	COM	02079K404
—	Alphabet Inc.	63,000	$3.169M	2.3%	—	—	COM	02079K602
—	Guidewire Software Inc	2,000,000	$1.925M	1.4%	—	—	Convertible Bond	40171VAC4
V	Visa Inc.	5,000	$1.715M	1.3%	—	—	COM	92826C839
APLD	Applied Digital Corp	39,500	$1.473M	1.1%	—	—	COM	038169207
BLDR	Builders FirstSource Inc	6,000	$537K	0.4%	—	—	COM	12008R107

Increased Positions (9)

UNIT Uniti Group Inc 11.7%

Value $16.08M (+119.2%) Shares 1,401,907 (+79.3%) Est. Cost — Unrealized —

— Live Nation Entertainment Inc 8.7%

Value $11.95M (+105.7%) Shares 9,975,000 (+85.6%) Est. Cost — Unrealized —

— Amazon.com Inc 5.7%

Value $7.794M (+18.0%) Shares 32,700 (+3.2%) Est. Cost — Unrealized —

HD Home Depot Inc 2.3%

Value $3.192M (+52.8%) Shares 9,050 (+42.5%) Est. Cost — Unrealized —

SNOW SNOWFLAKE 1.2%

Value $1.68M (+142.1%) Shares 6,600 (+43.5%) Est. Cost — Unrealized —

HLT Hilton Worldwide Holdings Inc 2.3%

Value $3.156M (+43.2%) Shares 9,550 (+31.7%) Est. Cost — Unrealized —

MA Mastercard Inc 2.4%

Value $3.236M (+22.2%) Shares 6,300 (+18.9%) Est. Cost — Unrealized —

HOOD ROBINHOOD MARKETS CL A 0.8%

Value $1.053M (+102.6%) Shares 10,500 (+40.0%) Est. Cost — Unrealized —

LUMN Lumen Technologies Inc 1.9%

Value $2.556M (+21.5%) Shares 332,816 (+9.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNIT	Uniti Group Inc	1,401,907 (+79.3%)	$16.08M (+119.2%)	11.7%	—	—	COM	912932100
—	Live Nation Entertainment Inc	9,975,000 (+85.6%)	$11.95M (+105.7%)	8.7%	—	—	Convertible Bond	538034BC2
—	Amazon.com Inc	32,700 (+3.2%)	$7.794M (+18.0%)	5.7%	—	—	COM	231351067
HD	Home Depot Inc	9,050 (+42.5%)	$3.192M (+52.8%)	2.3%	—	—	COM	437076102
SNOW	SNOWFLAKE	6,600 (+43.5%)	$1.68M (+142.1%)	1.2%	—	—	COM	833445109
HLT	Hilton Worldwide Holdings Inc	9,550 (+31.7%)	$3.156M (+43.2%)	2.3%	—	—	COM	43300A203
MA	Mastercard Inc	6,300 (+18.9%)	$3.236M (+22.2%)	2.4%	—	—	COM	57636Q104
HOOD	ROBINHOOD MARKETS CL A	10,500 (+40.0%)	$1.053M (+102.6%)	0.8%	—	—	COM	770700102
LUMN	Lumen Technologies Inc	332,816 (+9.9%)	$2.556M (+21.5%)	1.9%	—	—	COM	550241103

Exited Positions (9)

— Datadog Inc 4.0%

Value $5.455M Shares 5,625,000 Est. Cost — Unrealized —

DY DYCOM INDUSTRIES 1.6%

Value $2.202M Shares 6,500 Est. Cost — Unrealized —

DASH DoorDash Inc 1.0%

Value $1.426M Shares 9,500 Est. Cost — Unrealized —

ORCL Oracle Corp 1.0%

Value $1.398M Shares 9,500 Est. Cost — Unrealized —

NOW ServiceNow Inc 0.9%

Value $1.302M Shares 12,450 Est. Cost — Unrealized —

NCLH Norwegian Cruise Line Holdings Ltd 0.9%

Value $1.227M Shares 65,600 Est. Cost — Unrealized —

T AT&T 0.7%

Value $928K Shares 32,000 Est. Cost — Unrealized —

ZS Zscaler Inc 0.5%

Value $730K Shares 5,200 Est. Cost — Unrealized —

OPTU Optimum Communications Inc 0.2%

Value $260K Shares 200,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Datadog Inc	5,625,000	$5.455M	4.0%	—	—	—	23804LAD5
DY	DYCOM INDUSTRIES	6,500	$2.202M	1.6%	—	—	—	267475101
DASH	DoorDash Inc	9,500	$1.426M	1.0%	—	—	—	25809K105
ORCL	Oracle Corp	9,500	$1.398M	1.0%	—	—	—	68389X105
NOW	ServiceNow Inc	12,450	$1.302M	0.9%	—	—	—	81762P102
NCLH	Norwegian Cruise Line Holdings Ltd	65,600	$1.227M	0.9%	—	—	—	G66721104
T	AT&T	32,000	$928K	0.7%	—	—	—	00206R102
ZS	Zscaler Inc	5,200	$730K	0.5%	—	—	—	98980G102
OPTU	Optimum Communications Inc	200,000	$260K	0.2%	—	—	—	02156K103

Decreased Positions (7)

— Uniti Group Inc 8.4%

Value $11.46M (-65.7%) Shares 9,253,000 (-67.2%) Est. Cost — Unrealized —

SATS EchoStar Corp 2.3%

Value $3.197M (-44.8%) Shares 31,500 (-36.4%) Est. Cost — Unrealized —

NFLX NETFLIX 1.9%

Value $2.642M (-32.2%) Shares 37,000 (-8.6%) Est. Cost — Unrealized —

SPOT Spotify Technology SA 1.0%

Value $1.377M (-30.7%) Shares 3,000 (-26.8%) Est. Cost — Unrealized —

CORZ CORE SCIENTIFIC 0.8%

Value $1.075M (+46.6%) Shares 42,000 (-14.3%) Est. Cost — Unrealized —

BX Blackstone Inc 2.4%

Value $3.248M (-7.7%) Shares 27,600 (-9.8%) Est. Cost — Unrealized —

META Meta Platforms Inc 1.6%

Value $2.197M (-6.3%) Shares 3,900 (-4.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Uniti Group Inc	9,253,000 (-67.2%)	$11.46M (-65.7%)	8.4%	—	—	Convertible Bond	91325VAB4
SATS	EchoStar Corp	31,500 (-36.4%)	$3.197M (-44.8%)	2.3%	—	—	COM	278768106
NFLX	NETFLIX	37,000 (-8.6%)	$2.642M (-32.2%)	1.9%	—	—	COM	64110L106
SPOT	Spotify Technology SA	3,000 (-26.8%)	$1.377M (-30.7%)	1.0%	—	—	COM	L8681T102
CORZ	CORE SCIENTIFIC	42,000 (-14.3%)	$1.075M (+46.6%)	0.8%	—	—	COM	21874A106
BX	Blackstone Inc	27,600 (-9.8%)	$3.248M (-7.7%)	2.4%	—	—	COM	09260D107
META	Meta Platforms Inc	3,900 (-4.9%)	$2.197M (-6.3%)	1.6%	—	—	COM	30303M102

Unchanged Positions (4)

TDS Telephone and Data Systems Inc 3.1%

Value $4.256M Shares 115,000 Est. Cost — Unrealized —

— Strategy Inc 0.7%

Value $962K Shares 16,000 Est. Cost — Unrealized —

LOW LOWE'S COMPANIES 1.0%

Value $1.433M Shares 6,500 Est. Cost — Unrealized —

— SHOPIFY CL A SUB VTG 0.7%

Value $971K Shares 8,500 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TDS	Telephone and Data Systems Inc	115,000	$4.256M	3.1%	—	—	COM	879433829
—	Strategy Inc	16,000	$962K	0.7%	—	—	COM	594972887
LOW	LOWE'S COMPANIES	6,500	$1.433M	1.0%	—	—	COM	548661107
—	SHOPIFY CL A SUB VTG	8,500	$971K	0.7%	—	—	COM	CA82509L1