ADAPT Investment Managers SA Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLK	SELECT SECTOR SPDR TR	4,000,000	$575,880	4.2%	—	—	PUT	81369Y803
ORCL	ORACLE CORP	1,044,900	$203,661	1.5%	—	—	PUT	68389X105
EEM	ISHARES TR	3,000,000	$164,130	1.2%	—	—	CALL	464287234
IBM	INTERNATIONAL BUSINESS MACHS	300,000	$88,863	0.7%	—	—	PUT	459200101
GOOG	ALPHABET INC	250,000	$78,450	0.6%	$187.13	+53.0%	PUT	02079K107
LRCX	LAM RESEARCH CORP	375,000	$64,193	0.5%	—	—	PUT	512807306
ISRG	INTUITIVE SURGICAL INC	100,000	$56,636	0.4%	—	—	PUT	46120E602
GLD	SPDR GOLD TR	139,900	$55,444	0.4%	$396.31	—	GOLD SHS	78463V107
LVS	LAS VEGAS SANDS CORP	795,200	$51,760	0.4%	—	—	PUT	517834107
BAC	BANK AMERICA CORP	750,000	$41,250	0.3%	$41.45	+27.1%	CALL	060505104
ORCL	ORACLE CORP	200,000	$38,982	0.3%	—	—	CALL	68389X105
LVS	LAS VEGAS SANDS CORP	570,200	$37,114	0.3%	—	—	CALL	517834107
RTX	RTX CORPORATION	200,000	$36,680	0.3%	—	—	PUT	75513E101
UPS	UNITED PARCEL SERVICE INC	300,000	$29,757	0.2%	—	—	PUT	911312106
ISRG	INTUITIVE SURGICAL INC	50,000	$28,318	0.2%	—	—	CALL	46120E602
DDOG	DATADOG INC	200,000	$27,198	0.2%	$158.02	0.0%	PUT	23804L103
ADI	ANALOG DEVICES INC	100,000	$27,120	0.2%	$250.62	0.0%	PUT	032654105
F	FORD MTR CO	2,000,000	$26,240	0.2%	—	—	PUT	345370860
ZS	ZSCALER INC	112,413	$25,284	0.2%	$282.25	0.0%	COM	98980G102
GM	GENERAL MTRS CO	300,000	$24,396	0.2%	—	—	PUT	37045V100
GM	GENERAL MTRS CO	300,000	$24,396	0.2%	—	—	CALL	37045V100
NEE	NEXTERA ENERGY INC	300,000	$24,084	0.2%	$82.50	0.0%	PUT	65339F101
COIN	COINBASE GLOBAL INC	104,840	$23,709	0.2%	$297.98	0.0%	COM CL A	19260Q107
DDOG	DATADOG INC	160,121	$21,775	0.2%	$158.02	0.0%	CL A COM	23804L103
UPS	UNITED PARCEL SERVICE INC	200,000	$19,838	0.1%	—	—	CALL	911312106
RTX	RTX CORPORATION	100,000	$18,340	0.1%	—	—	CALL	75513E101
FXI	ISHARES TR	463,524	$17,748	0.1%	$38.29	—	CHINA LG-CAP ETF	464287184
NEE	NEXTERA ENERGY INC	200,000	$16,056	0.1%	$82.50	0.0%	CALL	65339F101
DDOG	DATADOG INC	100,000	$13,599	0.1%	$158.02	0.0%	CALL	23804L103
ADI	ANALOG DEVICES INC	50,000	$13,560	0.1%	$250.62	0.0%	CALL	032654105
F	FORD MTR CO	1,000,000	$13,120	0.1%	—	—	CALL	345370860
AAPL	APPLE INC	45,400	$12,342	0.1%	$268.34	0.0%	COM	037833100
LEN	LENNAR CORP	114,143	$11,734	0.1%	$120.70	0.0%	CL A	526057104
MGM	MGM RESORTS INTERNATIONAL	200,000	$7,298	0.1%	—	—	PUT	552953101
MGM	MGM RESORTS INTERNATIONAL	150,000	$5,474	0.0%	—	—	CALL	552953101
ADI	ANALOG DEVICES INC	16,435	$4,457	0.0%	$250.62	0.0%	COM	032654105
MRVL	MARVELL TECHNOLOGY INC	47,955	$4,075	0.0%	$87.46	0.0%	COM	573874104
AMAT	APPLIED MATLS INC	10,177	$2,615	0.0%	$239.49	0.0%	COM	038222105
VZ	VERIZON COMMUNICATIONS INC	36,555	$1,489	0.0%	$40.48	0.0%	COM	92343V104
NEE	NEXTERA ENERGY INC	1,801	$145	0.0%	$82.50	0.0%	COM	65339F101

Increased Positions (39)

HYG ISHARES TR 9.5%

Value ($000) $1,290,080 (+98.6%) Shares 16,000,000 (+100.0%) Est. Cost — Unrealized —

AMD ADVANCED MICRO DEVICES INC 5.6%

Value ($000) $765,622 (+64.6%) Shares 3,575,000 (+24.3%) Est. Cost $161.38 Unrealized +39.2%

FXI ISHARES TR 2.3%

Value ($000) $306,320 (+197.8%) Shares 8,000,000 (+220.0%) Est. Cost $38.29 Unrealized —

NVDA NVIDIA CORPORATION 13.2%

Value ($000) $1,796,032 (+12.2%) Shares 9,630,200 (+12.2%) Est. Cost $140.25 Unrealized +32.7%

AAPL APPLE INC 5.4%

Value ($000) $734,022 (+34.1%) Shares 2,700,000 (+25.6%) Est. Cost $268.34 Unrealized 0.0%

TXN TEXAS INSTRS INC 0.5%

Value ($000) $73,733 (+1505.3%) Shares 425,000 (+1600.0%) Est. Cost $193.30 Unrealized -11.7%

TFC TRUIST FINL CORP 0.7%

Value ($000) $93,499 (+240.8%) Shares 1,900,000 (+216.7%) Est. Cost — Unrealized —

AVGO BROADCOM INC 1.0%

Value ($000) $129,788 (+74.8%) Shares 375,000 (+66.7%) Est. Cost $233.34 Unrealized +53.0%

AMGN AMGEN INC 0.6%

Value ($000) $81,828 (+190.0%) Shares 250,000 (+150.0%) Est. Cost — Unrealized —

TXN TEXAS INSTRS INC 0.8%

Value ($000) $104,146 (+88.9%) Shares 600,300 (+100.1%) Est. Cost $193.30 Unrealized -11.7%

AMZN AMAZON COM INC 0.7%

Value ($000) $92,328 (+110.2%) Shares 400,000 (+100.0%) Est. Cost $219.55 Unrealized +4.2%

FCX FREEPORT-MCMORAN INC 0.4%

Value ($000) $60,948 (+288.5%) Shares 1,200,000 (+200.0%) Est. Cost $43.20 Unrealized +0.3%

BAC BANK AMERICA CORP 0.5%

Value ($000) $74,250 (+139.9%) Shares 1,350,000 (+125.0%) Est. Cost $41.45 Unrealized +27.1%

MRVL MARVELL TECHNOLOGY INC 1.6%

Value ($000) $216,699 (+22.7%) Shares 2,550,000 (+21.4%) Est. Cost $87.46 Unrealized 0.0%

AAPL APPLE INC 1.1%

Value ($000) $152,242 (+32.9%) Shares 560,000 (+24.4%) Est. Cost $268.34 Unrealized 0.0%

MSFT MICROSOFT CORP 0.4%

Value ($000) $55,532 (+201.2%) Shares 114,825 (+222.5%) Est. Cost $470.97 Unrealized +6.3%

PLTR PALANTIR TECHNOLOGIES INC 1.9%

Value ($000) $263,461 (+15.5%) Shares 1,482,200 (+18.6%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 1.6%

Value ($000) $219,279 (+17.5%) Shares 950,000 (+11.8%) Est. Cost $219.55 Unrealized +4.2%

KRE SPDR SERIES TRUST 0.4%

Value ($000) $58,329 (+104.8%) Shares 900,000 (+100.0%) Est. Cost $63.30 Unrealized —

XOM EXXON MOBIL CORP 0.8%

Value ($000) $108,306 (+37.2%) Shares 900,000 (+28.6%) Est. Cost $109.70 Unrealized +5.3%

SMH VANECK ETF TRUST 0.3%

Value ($000) $39,341 (+250.1%) Shares 109,241 (+217.2%) Est. Cost $349.49 Unrealized —

XOM EXXON MOBIL CORP 0.5%

Value ($000) $72,276 (+60.0%) Shares 600,600 (+49.9%) Est. Cost $109.70 Unrealized +5.3%

FCX FREEPORT-MCMORAN INC 0.3%

Value ($000) $35,553 (+202.2%) Shares 700,000 (+133.3%) Est. Cost $43.20 Unrealized +0.3%

VZ VERIZON COMMUNICATIONS INC 0.3%

Value ($000) $42,767 (+116.2%) Shares 1,050,000 (+133.3%) Est. Cost $40.48 Unrealized 0.0%

KRE SPDR SERIES TRUST 0.3%

Value ($000) $38,886 (+104.8%) Shares 600,000 (+100.0%) Est. Cost $63.30 Unrealized —

AMZN AMAZON COM INC 0.3%

Value ($000) $38,674 (+90.5%) Shares 167,550 (+81.2%) Est. Cost $219.55 Unrealized +4.2%

HD HOME DEPOT INC 0.2%

Value ($000) $20,808 (+327.8%) Shares 60,470 (+403.7%) Est. Cost $369.47 Unrealized -1.3%

ADSK AUTODESK INC 0.1%

Value ($000) $16,472 (+796.3%) Shares 55,648 (+861.9%) Est. Cost $302.78 Unrealized -0.1%

CCL CARNIVAL CORP 0.3%

Value ($000) $38,175 (+46.7%) Shares 1,250,000 (+38.9%) Est. Cost — Unrealized —

META META PLATFORMS INC 2.6%

Value ($000) $349,848 (+3.6%) Shares 530,000 (+15.2%) Est. Cost $691.46 Unrealized -3.5%

VZ VERIZON COMMUNICATIONS INC 0.2%

Value ($000) $24,438 (+85.3%) Shares 600,000 (+100.0%) Est. Cost $40.48 Unrealized 0.0%

TFC TRUIST FINL CORP 0.2%

Value ($000) $29,526 (+61.5%) Shares 600,000 (+50.0%) Est. Cost — Unrealized —

DELL DELL TECHNOLOGIES INC 1.4%

Value ($000) $195,114 (-5.1%) Shares 1,550,000 (+6.9%) Est. Cost — Unrealized —

LOW LOWES COS INC 0.1%

Value ($000) $14,221 (+98.6%) Shares 58,970 (+107.0%) Est. Cost $241.94 Unrealized -0.9%

INTU INTUIT 0.1%

Value ($000) $18,563 (+47.6%) Shares 28,023 (+52.2%) Est. Cost $699.29 Unrealized -5.5%

NKE NIKE INC 0.1%

Value ($000) $7,085 (+520.9%) Shares 111,213 (+579.6%) Est. Cost $66.21 Unrealized -2.0%

OKTA OKTA INC 0.0%

Value ($000) $6,381 (+922.3%) Shares 73,789 (+984.2%) Est. Cost $87.83 Unrealized -0.6%

NFLX NETFLIX INC 0.0%

Value ($000) $3,094 (-21.8%) Shares 33,000 (+900.0%) Est. Cost $109.23 Unrealized -1.3%

PLTR PALANTIR TECHNOLOGIES INC 0.3%

Value ($000) $40,634 (-1.0%) Shares 228,600 (+1.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	16,000,000 (+100.0%)	$1,290,080 (+98.6%)	9.5%	—	—	PUT	464288513
AMD	ADVANCED MICRO DEVICES INC	3,575,000 (+24.3%)	$765,622 (+64.6%)	5.6%	$161.38	+39.2%	PUT	007903107
FXI	ISHARES TR	8,000,000 (+220.0%)	$306,320 (+197.8%)	2.3%	$38.29	—	CALL	464287184
NVDA	NVIDIA CORPORATION	9,630,200 (+12.2%)	$1,796,032 (+12.2%)	13.2%	$140.25	+32.7%	PUT	67066G104
AAPL	APPLE INC	2,700,000 (+25.6%)	$734,022 (+34.1%)	5.4%	$268.34	0.0%	PUT	037833100
TXN	TEXAS INSTRS INC	425,000 (+1600.0%)	$73,733 (+1505.3%)	0.5%	$193.30	-11.7%	CALL	882508104
TFC	TRUIST FINL CORP	1,900,000 (+216.7%)	$93,499 (+240.8%)	0.7%	—	—	PUT	89832Q109
AVGO	BROADCOM INC	375,000 (+66.7%)	$129,788 (+74.8%)	1.0%	$233.34	+53.0%	CALL	11135F101
AMGN	AMGEN INC	250,000 (+150.0%)	$81,828 (+190.0%)	0.6%	—	—	PUT	031162100
TXN	TEXAS INSTRS INC	600,300 (+100.1%)	$104,146 (+88.9%)	0.8%	$193.30	-11.7%	PUT	882508104
AMZN	AMAZON COM INC	400,000 (+100.0%)	$92,328 (+110.2%)	0.7%	$219.55	+4.2%	CALL	023135106
FCX	FREEPORT-MCMORAN INC	1,200,000 (+200.0%)	$60,948 (+288.5%)	0.4%	$43.20	+0.3%	PUT	35671D857
BAC	BANK AMERICA CORP	1,350,000 (+125.0%)	$74,250 (+139.9%)	0.5%	$41.45	+27.1%	PUT	060505104
MRVL	MARVELL TECHNOLOGY INC	2,550,000 (+21.4%)	$216,699 (+22.7%)	1.6%	$87.46	0.0%	PUT	573874104
AAPL	APPLE INC	560,000 (+24.4%)	$152,242 (+32.9%)	1.1%	$268.34	0.0%	CALL	037833100
MSFT	MICROSOFT CORP	114,825 (+222.5%)	$55,532 (+201.2%)	0.4%	$470.97	+6.3%	COM	594918104
PLTR	PALANTIR TECHNOLOGIES INC	1,482,200 (+18.6%)	$263,461 (+15.5%)	1.9%	—	—	PUT	69608A108
AMZN	AMAZON COM INC	950,000 (+11.8%)	$219,279 (+17.5%)	1.6%	$219.55	+4.2%	PUT	023135106
KRE	SPDR SERIES TRUST	900,000 (+100.0%)	$58,329 (+104.8%)	0.4%	$63.30	—	PUT	78464A698
XOM	EXXON MOBIL CORP	900,000 (+28.6%)	$108,306 (+37.2%)	0.8%	$109.70	+5.3%	PUT	30231G102
SMH	VANECK ETF TRUST	109,241 (+217.2%)	$39,341 (+250.1%)	0.3%	$349.49	—	SEMICONDUCTR ETF	92189F676
XOM	EXXON MOBIL CORP	600,600 (+49.9%)	$72,276 (+60.0%)	0.5%	$109.70	+5.3%	CALL	30231G102
FCX	FREEPORT-MCMORAN INC	700,000 (+133.3%)	$35,553 (+202.2%)	0.3%	$43.20	+0.3%	CALL	35671D857
VZ	VERIZON COMMUNICATIONS INC	1,050,000 (+133.3%)	$42,767 (+116.2%)	0.3%	$40.48	0.0%	PUT	92343V104
KRE	SPDR SERIES TRUST	600,000 (+100.0%)	$38,886 (+104.8%)	0.3%	$63.30	—	CALL	78464A698
AMZN	AMAZON COM INC	167,550 (+81.2%)	$38,674 (+90.5%)	0.3%	$219.55	+4.2%	COM	023135106
HD	HOME DEPOT INC	60,470 (+403.7%)	$20,808 (+327.8%)	0.2%	$369.47	-1.3%	COM	437076102
ADSK	AUTODESK INC	55,648 (+861.9%)	$16,472 (+796.3%)	0.1%	$302.78	-0.1%	COM	052769106
CCL	CARNIVAL CORP	1,250,000 (+38.9%)	$38,175 (+46.7%)	0.3%	—	—	PUT	143658300
META	META PLATFORMS INC	530,000 (+15.2%)	$349,848 (+3.6%)	2.6%	$691.46	-3.5%	PUT	30303M102
VZ	VERIZON COMMUNICATIONS INC	600,000 (+100.0%)	$24,438 (+85.3%)	0.2%	$40.48	0.0%	CALL	92343V104
TFC	TRUIST FINL CORP	600,000 (+50.0%)	$29,526 (+61.5%)	0.2%	—	—	CALL	89832Q109
DELL	DELL TECHNOLOGIES INC	1,550,000 (+6.9%)	$195,114 (-5.1%)	1.4%	—	—	PUT	24703L202
LOW	LOWES COS INC	58,970 (+107.0%)	$14,221 (+98.6%)	0.1%	$241.94	-0.9%	COM	548661107
INTU	INTUIT	28,023 (+52.2%)	$18,563 (+47.6%)	0.1%	$699.29	-5.5%	COM	461202103
NKE	NIKE INC	111,213 (+579.6%)	$7,085 (+520.9%)	0.1%	$66.21	-2.0%	CL B	654106103
OKTA	OKTA INC	73,789 (+984.2%)	$6,381 (+922.3%)	0.0%	$87.83	-0.6%	CL A	679295105
NFLX	NETFLIX INC	33,000 (+900.0%)	$3,094 (-21.8%)	0.0%	$109.23	-1.3%	COM	64110L106
PLTR	PALANTIR TECHNOLOGIES INC	228,600 (+1.6%)	$40,634 (-1.0%)	0.3%	—	—	CALL	69608A108

Exited Positions (22)

MU MICRON TECHNOLOGY INC 0.4%

Value ($000) $50,196 Shares 300,000 Est. Cost $127.82 Unrealized +79.4%

MU MICRON TECHNOLOGY INC 0.2%

Value ($000) $30,749 Shares 183,771 Est. Cost $127.82 Unrealized +79.4%

AMAT APPLIED MATLS INC 0.2%

Value ($000) $30,711 Shares 150,000 Est. Cost $239.49 Unrealized 0.0%

GOOG ALPHABET INC 0.2%

Value ($000) $24,355 Shares 100,000 Est. Cost $187.13 Unrealized +53.0%

TXN TEXAS INSTRS INC 0.2%

Value ($000) $23,714 Shares 129,069 Est. Cost $193.30 Unrealized -11.7%

CSCO CISCO SYS INC 0.2%

Value ($000) $20,526 Shares 300,000 Est. Cost — Unrealized —

CSCO CISCO SYS INC 0.2%

Value ($000) $20,526 Shares 300,000 Est. Cost — Unrealized —

HUBS HUBSPOT INC 0.1%

Value ($000) $14,034 Shares 30,000 Est. Cost $547.05 Unrealized -24.3%

HUBS HUBSPOT INC 0.1%

Value ($000) $12,502 Shares 26,726 Est. Cost $547.05 Unrealized -24.3%

HUBS HUBSPOT INC 0.1%

Value ($000) $11,695 Shares 25,000 Est. Cost $547.05 Unrealized -24.3%

AMD ADVANCED MICRO DEVICES INC 0.1%

Value ($000) $11,427 Shares 70,630 Est. Cost $161.38 Unrealized +39.2%

WMT WALMART INC 0.1%

Value ($000) $11,337 Shares 110,000 Est. Cost — Unrealized —

WMT WALMART INC 0.1%

Value ($000) $11,337 Shares 110,000 Est. Cost — Unrealized —

TGT TARGET CORP 0.1%

Value ($000) $8,970 Shares 100,000 Est. Cost $96.73 Unrealized -5.3%

TGT TARGET CORP 0.1%

Value ($000) $8,970 Shares 100,000 Est. Cost $96.73 Unrealized -5.3%

FCX FREEPORT-MCMORAN INC 0.0%

Value ($000) $4,489 Shares 114,453 Est. Cost $43.20 Unrealized +0.3%

TGT TARGET CORP 0.0%

Value ($000) $4,468 Shares 49,812 Est. Cost $96.73 Unrealized -5.3%

BAC BANK AMERICA CORP 0.0%

Value ($000) $3,456 Shares 66,982 Est. Cost $41.45 Unrealized +27.1%

KRE SPDR SERIES TRUST 0.0%

Value ($000) $3,281 Shares 51,828 Est. Cost $63.30 Unrealized —

XOM EXXON MOBIL CORP 0.0%

Value ($000) $678 Shares 6,009 Est. Cost $109.70 Unrealized +5.3%

DLTR DOLLAR TREE INC 0.0%

Value ($000) $201 Shares 2,127 Est. Cost $107.01 Unrealized +0.1%

LLY ELI LILLY & CO 0.0%

Value ($000) $152 Shares 199 Est. Cost $742.24 Unrealized +28.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	300,000	$50,196	0.4%	$127.82	+79.4%	CALL	595112103
MU	MICRON TECHNOLOGY INC	183,771	$30,749	0.2%	$127.82	+79.4%	—	595112103
AMAT	APPLIED MATLS INC	150,000	$30,711	0.2%	$239.49	0.0%	CALL	038222105
GOOG	ALPHABET INC	100,000	$24,355	0.2%	$187.13	+53.0%	—	02079K107
TXN	TEXAS INSTRS INC	129,069	$23,714	0.2%	$193.30	-11.7%	—	882508104
CSCO	CISCO SYS INC	300,000	$20,526	0.2%	—	—	PUT	17275R102
CSCO	CISCO SYS INC	300,000	$20,526	0.2%	—	—	CALL	17275R102
HUBS	HUBSPOT INC	30,000	$14,034	0.1%	$547.05	-24.3%	PUT	443573100
HUBS	HUBSPOT INC	26,726	$12,502	0.1%	$547.05	-24.3%	—	443573100
HUBS	HUBSPOT INC	25,000	$11,695	0.1%	$547.05	-24.3%	CALL	443573100
AMD	ADVANCED MICRO DEVICES INC	70,630	$11,427	0.1%	$161.38	+39.2%	—	007903107
WMT	WALMART INC	110,000	$11,337	0.1%	—	—	CALL	931142103
WMT	WALMART INC	110,000	$11,337	0.1%	—	—	PUT	931142103
TGT	TARGET CORP	100,000	$8,970	0.1%	$96.73	-5.3%	CALL	87612E106
TGT	TARGET CORP	100,000	$8,970	0.1%	$96.73	-5.3%	PUT	87612E106
FCX	FREEPORT-MCMORAN INC	114,453	$4,489	0.0%	$43.20	+0.3%	—	35671D857
TGT	TARGET CORP	49,812	$4,468	0.0%	$96.73	-5.3%	—	87612E106
BAC	BANK AMERICA CORP	66,982	$3,456	0.0%	$41.45	+27.1%	—	060505104
KRE	SPDR SERIES TRUST	51,828	$3,281	0.0%	$63.30	—	—	78464A698
XOM	EXXON MOBIL CORP	6,009	$678	0.0%	$109.70	+5.3%	—	30231G102
DLTR	DOLLAR TREE INC	2,127	$201	0.0%	$107.01	+0.1%	—	256746108
LLY	ELI LILLY & CO	199	$152	0.0%	$742.24	+28.7%	—	532457108

Decreased Positions (24)

MSFT MICROSOFT CORP 1.7%

Value ($000) $224,883 (-59.2%) Shares 465,000 (-56.3%) Est. Cost $470.97 Unrealized +6.3%

TSLA TESLA INC 7.9%

Value ($000) $1,068,085 (-16.6%) Shares 2,375,000 (-17.5%) Est. Cost $335.65 Unrealized +32.1%

MU MICRON TECHNOLOGY INC 3.2%

Value ($000) $428,115 (+46.2%) Shares 1,500,000 (-14.3%) Est. Cost $127.82 Unrealized +79.4%

NVDA NVIDIA CORPORATION 0.1%

Value ($000) $19,215 (-84.9%) Shares 103,032 (-84.9%) Est. Cost $140.25 Unrealized +32.7%

FXI ISHARES TR 2.0%

Value ($000) $268,030 (-18.6%) Shares 7,000,000 (-12.5%) Est. Cost $38.29 Unrealized —

MSFT MICROSOFT CORP 0.2%

Value ($000) $24,181 (-68.9%) Shares 50,000 (-66.7%) Est. Cost $470.97 Unrealized +6.3%

QCOM QUALCOMM INC 0.3%

Value ($000) $34,210 (-58.9%) Shares 200,000 (-60.0%) Est. Cost — Unrealized —

ZS ZSCALER INC 0.4%

Value ($000) $56,230 (-46.4%) Shares 250,000 (-28.6%) Est. Cost $282.25 Unrealized 0.0%

ANET ARISTA NETWORKS INC 0.3%

Value ($000) $42,585 (-53.2%) Shares 325,000 (-48.0%) Est. Cost — Unrealized —

ZS ZSCALER INC 0.2%

Value ($000) $22,492 (-62.5%) Shares 100,000 (-50.0%) Est. Cost $282.25 Unrealized 0.0%

TTD THE TRADE DESK INC 0.1%

Value ($000) $7,592 (-77.2%) Shares 200,000 (-70.6%) Est. Cost $63.49 Unrealized -30.2%

META META PLATFORMS INC 0.1%

Value ($000) $9,545 (-72.1%) Shares 14,460 (-69.0%) Est. Cost $691.46 Unrealized -3.5%

ANET ARISTA NETWORKS INC 0.1%

Value ($000) $13,103 (-64.0%) Shares 100,000 (-60.0%) Est. Cost — Unrealized —

TSLA TESLA INC 0.1%

Value ($000) $15,079 (-59.2%) Shares 33,530 (-59.7%) Est. Cost $335.65 Unrealized +32.1%

AMAT APPLIED MATLS INC 0.2%

Value ($000) $25,699 (-44.2%) Shares 100,000 (-55.6%) Est. Cost $239.49 Unrealized 0.0%

AVGO BROADCOM INC 0.3%

Value ($000) $35,528 (-32.7%) Shares 102,652 (-35.8%) Est. Cost $233.34 Unrealized +53.0%

QCOM QUALCOMM INC 0.1%

Value ($000) $17,105 (-48.6%) Shares 100,000 (-50.0%) Est. Cost — Unrealized —

TTD THE TRADE DESK INC 0.1%

Value ($000) $11,388 (-57.0%) Shares 300,000 (-44.4%) Est. Cost $63.49 Unrealized -30.2%

INTC INTEL CORP 0.1%

Value ($000) $18,450 (-38.9%) Shares 500,000 (-44.4%) Est. Cost — Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.2%

Value ($000) $21,416 (-33.8%) Shares 100,000 (-50.0%) Est. Cost $161.38 Unrealized +39.2%

MRVL MARVELL TECHNOLOGY INC 0.3%

Value ($000) $42,490 (-15.8%) Shares 500,000 (-16.7%) Est. Cost $87.46 Unrealized 0.0%

TTD THE TRADE DESK INC 0.1%

Value ($000) $8,026 (-39.3%) Shares 211,437 (-21.7%) Est. Cost $63.49 Unrealized -30.2%

XYZ BLOCK INC 0.0%

Value ($000) $6,321 (-29.6%) Shares 97,114 (-21.8%) Est. Cost $58.18 Unrealized +18.6%

INTC INTEL CORP 0.4%

Value ($000) $55,357 (+3.1%) Shares 1,500,200 (-6.2%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	465,000 (-56.3%)	$224,883 (-59.2%)	1.7%	$470.97	+6.3%	PUT	594918104
TSLA	TESLA INC	2,375,000 (-17.5%)	$1,068,085 (-16.6%)	7.9%	$335.65	+32.1%	PUT	88160R101
MU	MICRON TECHNOLOGY INC	1,500,000 (-14.3%)	$428,115 (+46.2%)	3.2%	$127.82	+79.4%	PUT	595112103
NVDA	NVIDIA CORPORATION	103,032 (-84.9%)	$19,215 (-84.9%)	0.1%	$140.25	+32.7%	COM	67066G104
FXI	ISHARES TR	7,000,000 (-12.5%)	$268,030 (-18.6%)	2.0%	$38.29	—	PUT	464287184
MSFT	MICROSOFT CORP	50,000 (-66.7%)	$24,181 (-68.9%)	0.2%	$470.97	+6.3%	CALL	594918104
QCOM	QUALCOMM INC	200,000 (-60.0%)	$34,210 (-58.9%)	0.3%	—	—	PUT	747525103
ZS	ZSCALER INC	250,000 (-28.6%)	$56,230 (-46.4%)	0.4%	$282.25	0.0%	PUT	98980G102
ANET	ARISTA NETWORKS INC	325,000 (-48.0%)	$42,585 (-53.2%)	0.3%	—	—	PUT	040413205
ZS	ZSCALER INC	100,000 (-50.0%)	$22,492 (-62.5%)	0.2%	$282.25	0.0%	CALL	98980G102
TTD	THE TRADE DESK INC	200,000 (-70.6%)	$7,592 (-77.2%)	0.1%	$63.49	-30.2%	CALL	88339J105
META	META PLATFORMS INC	14,460 (-69.0%)	$9,545 (-72.1%)	0.1%	$691.46	-3.5%	CL A	30303M102
ANET	ARISTA NETWORKS INC	100,000 (-60.0%)	$13,103 (-64.0%)	0.1%	—	—	CALL	040413205
TSLA	TESLA INC	33,530 (-59.7%)	$15,079 (-59.2%)	0.1%	$335.65	+32.1%	COM	88160R101
AMAT	APPLIED MATLS INC	100,000 (-55.6%)	$25,699 (-44.2%)	0.2%	$239.49	0.0%	PUT	038222105
AVGO	BROADCOM INC	102,652 (-35.8%)	$35,528 (-32.7%)	0.3%	$233.34	+53.0%	COM	11135F101
QCOM	QUALCOMM INC	100,000 (-50.0%)	$17,105 (-48.6%)	0.1%	—	—	CALL	747525103
TTD	THE TRADE DESK INC	300,000 (-44.4%)	$11,388 (-57.0%)	0.1%	$63.49	-30.2%	PUT	88339J105
INTC	INTEL CORP	500,000 (-44.4%)	$18,450 (-38.9%)	0.1%	—	—	CALL	458140100
AMD	ADVANCED MICRO DEVICES INC	100,000 (-50.0%)	$21,416 (-33.8%)	0.2%	$161.38	+39.2%	CALL	007903107
MRVL	MARVELL TECHNOLOGY INC	500,000 (-16.7%)	$42,490 (-15.8%)	0.3%	$87.46	0.0%	CALL	573874104
TTD	THE TRADE DESK INC	211,437 (-21.7%)	$8,026 (-39.3%)	0.1%	$63.49	-30.2%	COM CL A	88339J105
XYZ	BLOCK INC	97,114 (-21.8%)	$6,321 (-29.6%)	0.0%	$58.18	+18.6%	CL A	852234103
INTC	INTEL CORP	1,500,200 (-6.2%)	$55,357 (+3.1%)	0.4%	—	—	PUT	458140100

Unchanged Positions (39)

COIN COINBASE GLOBAL INC 1.0%

Value ($000) $137,945 Shares 610,000 Est. Cost $297.98 Unrealized 0.0%

RBLX ROBLOX CORP 0.5%

Value ($000) $64,824 Shares 800,000 Est. Cost — Unrealized —

AVGO BROADCOM INC 2.2%

Value ($000) $302,838 Shares 875,000 Est. Cost $233.34 Unrealized +53.0%

COIN COINBASE GLOBAL INC 0.2%

Value ($000) $28,268 Shares 125,000 Est. Cost $297.98 Unrealized 0.0%

LLY ELI LILLY & CO 0.3%

Value ($000) $40,301 Shares 37,500 Est. Cost $742.24 Unrealized +28.7%

LLY ELI LILLY & CO 0.2%

Value ($000) $26,867 Shares 25,000 Est. Cost $742.24 Unrealized +28.7%

C CITIGROUP INC 0.4%

Value ($000) $52,511 Shares 450,000 Est. Cost — Unrealized —

M MACYS INC 0.2%

Value ($000) $33,075 Shares 1,500,000 Est. Cost — Unrealized —

ROKU ROKU INC 0.6%

Value ($000) $75,943 Shares 700,000 Est. Cost — Unrealized —

DLTR DOLLAR TREE INC 0.2%

Value ($000) $24,602 Shares 200,000 Est. Cost $107.01 Unrealized +0.1%

DLTR DOLLAR TREE INC 0.2%

Value ($000) $24,602 Shares 200,000 Est. Cost $107.01 Unrealized +0.1%

XYZ BLOCK INC 0.4%

Value ($000) $48,818 Shares 750,000 Est. Cost $58.18 Unrealized +18.6%

DELL DELL TECHNOLOGIES INC 0.3%

Value ($000) $37,764 Shares 300,000 Est. Cost — Unrealized —

LEN LENNAR CORP 0.2%

Value ($000) $20,560 Shares 200,000 Est. Cost $120.70 Unrealized 0.0%

HD HOME DEPOT INC 0.2%

Value ($000) $25,808 Shares 75,000 Est. Cost $369.47 Unrealized -1.3%

AMGN AMGEN INC 0.2%

Value ($000) $32,731 Shares 100,000 Est. Cost — Unrealized —

M MACYS INC 0.2%

Value ($000) $22,050 Shares 1,000,000 Est. Cost — Unrealized —

OKTA OKTA INC 0.4%

Value ($000) $56,206 Shares 650,000 Est. Cost $87.83 Unrealized -0.6%

ADSK AUTODESK INC 0.3%

Value ($000) $44,402 Shares 150,000 Est. Cost $302.78 Unrealized -0.1%

LEN LENNAR CORP 0.1%

Value ($000) $10,280 Shares 100,000 Est. Cost $120.70 Unrealized 0.0%

HD HOME DEPOT INC 0.1%

Value ($000) $12,904 Shares 37,500 Est. Cost $369.47 Unrealized -1.3%

C CITIGROUP INC 0.1%

Value ($000) $17,504 Shares 150,000 Est. Cost — Unrealized —

META META PLATFORMS INC 0.1%

Value ($000) $19,803 Shares 30,000 Est. Cost $691.46 Unrealized -3.5%

ADSK AUTODESK INC 0.2%

Value ($000) $29,601 Shares 100,000 Est. Cost $302.78 Unrealized -0.1%

USB US BANCORP DEL 0.1%

Value ($000) $16,013 Shares 300,100 Est. Cost — Unrealized —

USB US BANCORP DEL 0.1%

Value ($000) $16,008 Shares 300,000 Est. Cost — Unrealized —

CCL CARNIVAL CORP 0.2%

Value ($000) $24,432 Shares 800,000 Est. Cost — Unrealized —

NKE NIKE INC 0.1%

Value ($000) $12,742 Shares 200,000 Est. Cost $66.21 Unrealized -2.0%

NKE NIKE INC 0.1%

Value ($000) $12,742 Shares 200,000 Est. Cost $66.21 Unrealized -2.0%

RCL ROYAL CARIBBEAN GROUP 0.0%

Value ($000) $6,694 Shares 24,000 Est. Cost — Unrealized —

OKTA OKTA INC 0.1%

Value ($000) $17,294 Shares 200,000 Est. Cost $87.83 Unrealized -0.6%

INTU INTUIT 0.2%

Value ($000) $33,121 Shares 50,000 Est. Cost $699.29 Unrealized -5.5%

LOW LOWES COS INC 0.2%

Value ($000) $24,116 Shares 100,000 Est. Cost $241.94 Unrealized -0.9%

LOW LOWES COS INC 0.2%

Value ($000) $24,116 Shares 100,000 Est. Cost $241.94 Unrealized -0.9%

RCL ROYAL CARIBBEAN GROUP 0.0%

Value ($000) $4,463 Shares 16,000 Est. Cost — Unrealized —

PFE PFIZER INC 0.2%

Value ($000) $24,902 Shares 1,000,100 Est. Cost — Unrealized —

INTU INTUIT 0.1%

Value ($000) $16,561 Shares 25,000 Est. Cost $699.29 Unrealized -5.5%

PFE PFIZER INC 0.1%

Value ($000) $12,450 Shares 500,000 Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.2%

Value ($000) $29,877 Shares 160,200 Est. Cost $140.25 Unrealized +32.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COIN	COINBASE GLOBAL INC	610,000	$137,945	1.0%	$297.98	0.0%	PUT	19260Q107
RBLX	ROBLOX CORP	800,000	$64,824	0.5%	—	—	PUT	771049103
AVGO	BROADCOM INC	875,000	$302,838	2.2%	$233.34	+53.0%	PUT	11135F101
COIN	COINBASE GLOBAL INC	125,000	$28,268	0.2%	$297.98	0.0%	CALL	19260Q107
LLY	ELI LILLY & CO	37,500	$40,301	0.3%	$742.24	+28.7%	PUT	532457108
LLY	ELI LILLY & CO	25,000	$26,867	0.2%	$742.24	+28.7%	CALL	532457108
C	CITIGROUP INC	450,000	$52,511	0.4%	—	—	PUT	172967424
M	MACYS INC	1,500,000	$33,075	0.2%	—	—	PUT	55616P104
ROKU	ROKU INC	700,000	$75,943	0.6%	—	—	PUT	77543R102
DLTR	DOLLAR TREE INC	200,000	$24,602	0.2%	$107.01	+0.1%	CALL	256746108
DLTR	DOLLAR TREE INC	200,000	$24,602	0.2%	$107.01	+0.1%	PUT	256746108
XYZ	BLOCK INC	750,000	$48,818	0.4%	$58.18	+18.6%	PUT	852234103
DELL	DELL TECHNOLOGIES INC	300,000	$37,764	0.3%	—	—	CALL	24703L202
LEN	LENNAR CORP	200,000	$20,560	0.2%	$120.70	0.0%	PUT	526057104
HD	HOME DEPOT INC	75,000	$25,808	0.2%	$369.47	-1.3%	PUT	437076102
AMGN	AMGEN INC	100,000	$32,731	0.2%	—	—	CALL	031162100
M	MACYS INC	1,000,000	$22,050	0.2%	—	—	CALL	55616P104
OKTA	OKTA INC	650,000	$56,206	0.4%	$87.83	-0.6%	PUT	679295105
ADSK	AUTODESK INC	150,000	$44,402	0.3%	$302.78	-0.1%	PUT	052769106
LEN	LENNAR CORP	100,000	$10,280	0.1%	$120.70	0.0%	CALL	526057104
HD	HOME DEPOT INC	37,500	$12,904	0.1%	$369.47	-1.3%	CALL	437076102
C	CITIGROUP INC	150,000	$17,504	0.1%	—	—	CALL	172967424
META	META PLATFORMS INC	30,000	$19,803	0.1%	$691.46	-3.5%	CALL	30303M102
ADSK	AUTODESK INC	100,000	$29,601	0.2%	$302.78	-0.1%	CALL	052769106
USB	US BANCORP DEL	300,100	$16,013	0.1%	—	—	PUT	902973304
USB	US BANCORP DEL	300,000	$16,008	0.1%	—	—	CALL	902973304
CCL	CARNIVAL CORP	800,000	$24,432	0.2%	—	—	CALL	143658300
NKE	NIKE INC	200,000	$12,742	0.1%	$66.21	-2.0%	CALL	654106103
NKE	NIKE INC	200,000	$12,742	0.1%	$66.21	-2.0%	PUT	654106103
RCL	ROYAL CARIBBEAN GROUP	24,000	$6,694	0.0%	—	—	PUT	V7780T103
OKTA	OKTA INC	200,000	$17,294	0.1%	$87.83	-0.6%	CALL	679295105
INTU	INTUIT	50,000	$33,121	0.2%	$699.29	-5.5%	PUT	461202103
LOW	LOWES COS INC	100,000	$24,116	0.2%	$241.94	-0.9%	CALL	548661107
LOW	LOWES COS INC	100,000	$24,116	0.2%	$241.94	-0.9%	PUT	548661107
RCL	ROYAL CARIBBEAN GROUP	16,000	$4,463	0.0%	—	—	CALL	V7780T103
PFE	PFIZER INC	1,000,100	$24,902	0.2%	—	—	PUT	717081103
INTU	INTUIT	25,000	$16,561	0.1%	$699.29	-5.5%	CALL	461202103
PFE	PFIZER INC	500,000	$12,450	0.1%	—	—	CALL	717081103
NVDA	NVIDIA CORPORATION	160,200	$29,877	0.2%	$140.25	+32.7%	CALL	67066G104