FengHe Fund Management Pte. Ltd. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ONON	ON HLDG AG	3,064,211	$142,425	8.0%	$43.09	0.0%	NAMEN AKT A	H5919C104
AVGO	BROADCOM INC	288,680	$99,912	5.6%	$357.00	0.0%	COM	11135F101
MTSI	MACOM TECH SOLUTIONS HLDGS I	529,326	$90,663	5.1%	$158.72	0.0%	COM	55405Y100
ALNY	ALNYLAM PHARMACEUTICALS INC	218,700	$86,966	4.9%	$442.56	0.0%	COM	02043Q107
LHX	L3HARRIS TECHNOLOGIES INC	270,500	$79,411	4.5%	$288.43	0.0%	COM	502431109
LLY	ELI LILLY & CO	51,300	$55,131	3.1%	$955.55	0.0%	COM	532457108
SITM	SITIME CORP	128,389	$45,346	2.6%	$312.93	0.0%	COM	82982T106
MRK	MERCK & CO INC	420,400	$44,251	2.5%	$93.24	0.0%	COM	58933Y105
VRT	VERTIV HOLDINGS CO	239,800	$38,850	2.2%	$173.58	0.0%	COM CL A	92537N108
CRS	CARPENTER TECHNOLOGY CORP	116,200	$36,584	2.1%	$300.56	0.0%	COM	144285103
KTOS	KRATOS DEFENSE & SEC SOLUTIO	464,900	$35,291	2.0%	$81.87	0.0%	COM NEW	50077B207
ARWR	ARROWHEAD PHARMACEUTICALS IN	266,700	$17,706	1.0%	$49.01	0.0%	COM	04280A100
ASML	ASML HOLDING N V	9,500	$10,164	0.6%	$1069.86	—	N Y REGISTRY SHS	N07059210
MSTR	STRATEGY INC	17,900	$2,720	0.2%	$230.22	0.0%	CL A NEW	594972408
NTES	NETEASE INC	12,400	$1,706	0.1%	$137.62	—	SPONSORED ADS	64110W102
SE	SEA LTD	11,500	$1,467	0.1%	$127.57	—	SPONSORD ADS	81141R100

Increased Positions (8)

GOOGL ALPHABET INC 9.2%

Value ($000) $162,791 (+1986.1%) Shares 520,100 (+1520.2%) Est. Cost $280.88 Unrealized +1.7%

CIEN CIENA CORP 8.7%

Value ($000) $154,585 (+323.8%) Shares 660,988 (+164.0%) Est. Cost $159.09 Unrealized +21.9%

SNDK SANDISK CORP 5.8%

Value ($000) $102,477 (+841.6%) Shares 431,700 (+345.1%) Est. Cost $168.41 Unrealized +18.9%

APP APPLOVIN CORP 3.6%

Value ($000) $63,346 (+1501.4%) Shares 94,010 (+1607.7%) Est. Cost $612.19 Unrealized +2.9%

U UNITY SOFTWARE INC 4.3%

Value ($000) $76,503 (+326.9%) Shares 1,732,002 (+287.0%) Est. Cost $35.69 Unrealized +14.2%

WRD WERIDE INC 2.0%

Value ($000) $36,241 (+161.7%) Shares 4,175,181 (+198.5%) Est. Cost $8.41 Unrealized —

GLW CORNING INC 2.9%

Value ($000) $51,179 (+53.7%) Shares 584,500 (+44.0%) Est. Cost $71.39 Unrealized +20.4%

CRDO CREDO TECHNOLOGY GROUP HOLDI 1.3%

Value ($000) $23,349 (+4.5%) Shares 162,269 (+5.7%) Est. Cost $63.48 Unrealized +142.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	520,100 (+1520.2%)	$162,791 (+1986.1%)	9.2%	$280.88	+1.7%	CAP STK CL A	02079K305
CIEN	CIENA CORP	660,988 (+164.0%)	$154,585 (+323.8%)	8.7%	$159.09	+21.9%	COM NEW	171779309
SNDK	SANDISK CORP	431,700 (+345.1%)	$102,477 (+841.6%)	5.8%	$168.41	+18.9%	COM	80004C200
APP	APPLOVIN CORP	94,010 (+1607.7%)	$63,346 (+1501.4%)	3.6%	$612.19	+2.9%	COM CL A	03831W108
U	UNITY SOFTWARE INC	1,732,002 (+287.0%)	$76,503 (+326.9%)	4.3%	$35.69	+14.2%	COM	91332U101
WRD	WERIDE INC	4,175,181 (+198.5%)	$36,241 (+161.7%)	2.0%	$8.41	—	SPONSORED ADS	950915108
GLW	CORNING INC	584,500 (+44.0%)	$51,179 (+53.7%)	2.9%	$71.39	+20.4%	COM	219350105
CRDO	CREDO TECHNOLOGY GROUP HOLDI	162,269 (+5.7%)	$23,349 (+4.5%)	1.3%	$63.48	+142.3%	ORDINARY SHARES	G25457105

Exited Positions (13)

TTMI TTM TECHNOLOGIES INC 3.0%

Value ($000) $54,148 Shares 940,071 Est. Cost $46.47 Unrealized +40.4%

INTC INTEL CORP 2.2%

Value ($000) $39,062 Shares 1,164,300 Est. Cost $24.23 Unrealized +55.9%

B BARRICK MNG CORP 2.2%

Value ($000) $38,416 Shares 1,172,300 Est. Cost $20.24 Unrealized +84.9%

FUTU FUTU HLDGS LTD 1.8%

Value ($000) $32,486 Shares 186,800 Est. Cost $173.91 Unrealized —

ALB ALBEMARLE CORP 1.5%

Value ($000) $25,766 Shares 317,785 Est. Cost $58.33 Unrealized +94.2%

CDNS CADENCE DESIGN SYSTEM INC 1.4%

Value ($000) $24,342 Shares 69,300 Est. Cost $290.76 Unrealized +12.2%

HII HUNTINGTON INGALLS INDS INC 1.2%

Value ($000) $21,017 Shares 73,000 Est. Cost $264.43 Unrealized +17.0%

AMAT APPLIED MATLS INC 1.1%

Value ($000) $19,962 Shares 97,500 Est. Cost $180.78 Unrealized +32.5%

FNV FRANCO NEV CORP 0.9%

Value ($000) $15,693 Shares 70,400 Est. Cost $180.19 Unrealized +12.5%

SNPS SYNOPSYS INC 0.7%

Value ($000) $12,729 Shares 25,800 Est. Cost $565.30 Unrealized -21.4%

QCOM QUALCOMM INC 0.6%

Value ($000) $11,229 Shares 67,500 Est. Cost $157.20 Unrealized +8.6%

JD JD.COM INC 0.4%

Value ($000) $7,521 Shares 215,000 Est. Cost $33.85 Unrealized —

YMM FULL TRUCK ALLIANCE CO LTD 0.1%

Value ($000) $1,545 Shares 119,100 Est. Cost $12.97 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TTMI	TTM TECHNOLOGIES INC	940,071	$54,148	3.0%	$46.47	+40.4%	—	87305R109
INTC	INTEL CORP	1,164,300	$39,062	2.2%	$24.23	+55.9%	—	458140100
B	BARRICK MNG CORP	1,172,300	$38,416	2.2%	$20.24	+84.9%	—	06849F108
FUTU	FUTU HLDGS LTD	186,800	$32,486	1.8%	$173.91	—	—	36118L106
ALB	ALBEMARLE CORP	317,785	$25,766	1.5%	$58.33	+94.2%	—	012653101
CDNS	CADENCE DESIGN SYSTEM INC	69,300	$24,342	1.4%	$290.76	+12.2%	—	127387108
HII	HUNTINGTON INGALLS INDS INC	73,000	$21,017	1.2%	$264.43	+17.0%	—	446413106
AMAT	APPLIED MATLS INC	97,500	$19,962	1.1%	$180.78	+32.5%	—	038222105
FNV	FRANCO NEV CORP	70,400	$15,693	0.9%	$180.19	+12.5%	—	351858105
SNPS	SYNOPSYS INC	25,800	$12,729	0.7%	$565.30	-21.4%	—	871607107
QCOM	QUALCOMM INC	67,500	$11,229	0.6%	$157.20	+8.6%	—	747525103
JD	JD.COM INC	215,000	$7,521	0.4%	$33.85	—	—	47215P106
YMM	FULL TRUCK ALLIANCE CO LTD	119,100	$1,545	0.1%	$12.97	—	—	35969L108

Decreased Positions (13)

AMD ADVANCED MICRO DEVICES INC 0.9%

Value ($000) $15,591 (-83.0%) Shares 72,800 (-87.2%) Est. Cost $113.44 Unrealized +98.0%

ALAB ASTERA LABS INC 1.1%

Value ($000) $20,126 (-68.3%) Shares 120,980 (-62.7%) Est. Cost $79.01 Unrealized +111.7%

MRVL MARVELL TECHNOLOGY INC 0.2%

Value ($000) $3,323 (-92.1%) Shares 39,100 (-92.2%) Est. Cost $62.28 Unrealized +40.4%

COHR COHERENT CORP 0.3%

Value ($000) $5,316 (-87.5%) Shares 28,800 (-92.7%) Est. Cost $75.68 Unrealized +97.6%

NVDA NVIDIA CORPORATION 0.3%

Value ($000) $5,054 (-87.8%) Shares 27,100 (-87.8%) Est. Cost $133.17 Unrealized +39.8%

ADI ANALOG DEVICES INC 0.9%

Value ($000) $15,784 (-68.2%) Shares 58,200 (-71.2%) Est. Cost $238.95 Unrealized +4.9%

COIN COINBASE GLOBAL INC 0.2%

Value ($000) $2,895 (-87.7%) Shares 12,800 (-81.7%) Est. Cost $292.63 Unrealized +1.8%

BABA ALIBABA GROUP HLDG LTD 0.4%

Value ($000) $6,420 (-72.6%) Shares 43,800 (-66.6%) Est. Cost $144.65 Unrealized —

APH AMPHENOL CORP NEW 1.5%

Value ($000) $25,771 (-32.5%) Shares 190,700 (-38.2%) Est. Cost $98.21 Unrealized +36.0%

DQ DAQO NEW ENERGY CORP 0.3%

Value ($000) $5,970 (-54.8%) Shares 202,371 (-56.9%) Est. Cost $23.34 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 5.4%

Value ($000) $95,707 (-3.2%) Shares 314,940 (-11.0%) Est. Cost $215.93 Unrealized —

TAL TAL EDUCATION GROUP 0.5%

Value ($000) $8,719 (-11.7%) Shares 799,195 (-9.4%) Est. Cost $11.40 Unrealized —

LITE LUMENTUM HLDGS INC 4.0%

Value ($000) $70,843 (-1.3%) Shares 192,200 (-56.4%) Est. Cost $124.70 Unrealized +106.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMD	ADVANCED MICRO DEVICES INC	72,800 (-87.2%)	$15,591 (-83.0%)	0.9%	$113.44	+98.0%	COM	007903107
ALAB	ASTERA LABS INC	120,980 (-62.7%)	$20,126 (-68.3%)	1.1%	$79.01	+111.7%	COM	04626A103
MRVL	MARVELL TECHNOLOGY INC	39,100 (-92.2%)	$3,323 (-92.1%)	0.2%	$62.28	+40.4%	COM	573874104
COHR	COHERENT CORP	28,800 (-92.7%)	$5,316 (-87.5%)	0.3%	$75.68	+97.6%	COM	19247G107
NVDA	NVIDIA CORPORATION	27,100 (-87.8%)	$5,054 (-87.8%)	0.3%	$133.17	+39.8%	COM	67066G104
ADI	ANALOG DEVICES INC	58,200 (-71.2%)	$15,784 (-68.2%)	0.9%	$238.95	+4.9%	COM	032654105
COIN	COINBASE GLOBAL INC	12,800 (-81.7%)	$2,895 (-87.7%)	0.2%	$292.63	+1.8%	COM CL A	19260Q107
BABA	ALIBABA GROUP HLDG LTD	43,800 (-66.6%)	$6,420 (-72.6%)	0.4%	$144.65	—	SPONSORED ADS	01609W102
APH	AMPHENOL CORP NEW	190,700 (-38.2%)	$25,771 (-32.5%)	1.5%	$98.21	+36.0%	CL A	032095101
DQ	DAQO NEW ENERGY CORP	202,371 (-56.9%)	$5,970 (-54.8%)	0.3%	$23.34	—	SPNSRD ADS NEW	23703Q203
TSM	TAIWAN SEMICONDUCTOR MFG LTD	314,940 (-11.0%)	$95,707 (-3.2%)	5.4%	$215.93	—	SPONSORED ADS	874039100
TAL	TAL EDUCATION GROUP	799,195 (-9.4%)	$8,719 (-11.7%)	0.5%	$11.40	—	SPONSORED ADS	874080104
LITE	LUMENTUM HLDGS INC	192,200 (-56.4%)	$70,843 (-1.3%)	4.0%	$124.70	+106.0%	COM	55024U109

Unchanged Positions (1)

BA BOEING CO 2.0%

Value ($000) $35,586 Shares 163,900 Est. Cost $225.47 Unrealized -8.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BA	BOEING CO	163,900	$35,586	2.0%	$225.47	-8.8%	COM	097023105