Palestra Capital Management LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LIN	LINDE PLC	401,494	$171,193	6.1%	$427.28	0.0%	SHS	G54950103
DHR	DANAHER CORPORATION	662,517	$151,663	5.4%	$219.54	0.0%	COM	235851102
CLH	CLEAN HARBORS INC	569,991	$133,651	4.7%	$228.49	0.0%	COM	184496107
CRS	CARPENTER TECHNOLOGY CORP	367,701	$115,767	4.1%	$300.56	0.0%	COM	144285103
GOOGL	ALPHABET INC	345,865	$108,256	3.8%	$285.60	0.0%	CAP STK CL A	02079K305
CMCSA	COMCAST CORP NEW	3,476,179	$103,903	3.7%	$28.53	0.0%	CL A	20030N101
INFY	INFOSYS LTD	2,709,445	$48,282	1.7%	$17.82	—	SPONSORED ADR	456788108
UAL	UNITED AIRLS HLDGS INC	412,889	$46,169	1.6%	$101.05	0.0%	COM	910047109
PCOR	PROCORE TECHNOLOGIES INC	250,000	$18,185	0.6%	$73.96	0.0%	COM	74275K108
PRMB	PRIMO BRANDS CORPORATION	1,022,400	$16,716	0.6%	$31.97	-42.2%	CALL	741623102

Increased Positions (6)

V VISA INC 5.9%

Value ($000) $167,093 (+58.8%) Shares 476,442 (+54.5%) Est. Cost $258.49 Unrealized +31.7%

AYI ACUITY INC 4.7%

Value ($000) $133,405 (+45.7%) Shares 370,529 (+39.4%) Est. Cost $330.53 Unrealized +9.3%

UNP UNION PAC CORP 5.6%

Value ($000) $158,986 (+24.2%) Shares 687,298 (+26.9%) Est. Cost $224.03 Unrealized +1.5%

NU NU HLDGS LTD 5.4%

Value ($000) $153,683 (+14.3%) Shares 9,180,592 (+9.3%) Est. Cost $14.13 Unrealized +13.7%

AMZN AMAZON COM INC 6.1%

Value ($000) $173,702 (+8.5%) Shares 752,542 (+3.3%) Est. Cost $201.30 Unrealized +13.7%

META META PLATFORMS INC 4.5%

Value ($000) $126,692 (-8.7%) Shares 191,932 (+1.5%) Est. Cost $368.99 Unrealized +80.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
V	VISA INC	476,442 (+54.5%)	$167,093 (+58.8%)	5.9%	$258.49	+31.7%	COM CL A	92826C839
AYI	ACUITY INC	370,529 (+39.4%)	$133,405 (+45.7%)	4.7%	$330.53	+9.3%	COM	00508Y102
UNP	UNION PAC CORP	687,298 (+26.9%)	$158,986 (+24.2%)	5.6%	$224.03	+1.5%	COM	907818108
NU	NU HLDGS LTD	9,180,592 (+9.3%)	$153,683 (+14.3%)	5.4%	$14.13	+13.7%	ORD SHS CL A	G6683N103
AMZN	AMAZON COM INC	752,542 (+3.3%)	$173,702 (+8.5%)	6.1%	$201.30	+13.7%	COM	023135106
META	META PLATFORMS INC	191,932 (+1.5%)	$126,692 (-8.7%)	4.5%	$368.99	+80.8%	CL A	30303M102

Exited Positions (9)

SN SHARKNINJA INC 5.1%

Value ($000) $143,177 Shares 1,388,046 Est. Cost $95.74 Unrealized +2.9%

PFGC PERFORMANCE FOOD GROUP CO 4.3%

Value ($000) $120,643 Shares 1,159,583 Est. Cost $63.46 Unrealized +52.2%

CPNG COUPANG INC 4.1%

Value ($000) $116,317 Shares 3,612,344 Est. Cost $25.62 Unrealized +11.0%

SE SEA LTD 3.9%

Value ($000) $111,050 Shares 621,330 Est. Cost $159.94 Unrealized —

FLUT FLUTTER ENTMT PLC 3.8%

Value ($000) $106,452 Shares 419,101 Est. Cost $229.04 Unrealized -1.8%

TLN TALEN ENERGY CORP 2.9%

Value ($000) $81,486 Shares 191,560 Est. Cost $361.29 Unrealized +7.6%

HLT HILTON WORLDWIDE HLDGS INC 2.8%

Value ($000) $80,268 Shares 309,390 Est. Cost $152.82 Unrealized +78.1%

HSIC HENRY SCHEIN INC 2.0%

Value ($000) $56,415 Shares 850,000 Est. Cost $71.87 Unrealized -2.1%

FICO FAIR ISAAC CORP 0.1%

Value ($000) $2,189 Shares 1,463 Est. Cost $1503.82 Unrealized +14.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SN	SHARKNINJA INC	1,388,046	$143,177	5.1%	$95.74	+2.9%	—	G8068L108
PFGC	PERFORMANCE FOOD GROUP CO	1,159,583	$120,643	4.3%	$63.46	+52.2%	—	71377A103
CPNG	COUPANG INC	3,612,344	$116,317	4.1%	$25.62	+11.0%	—	22266T109
SE	SEA LTD	621,330	$111,050	3.9%	$159.94	—	—	81141R100
FLUT	FLUTTER ENTMT PLC	419,101	$106,452	3.8%	$229.04	-1.8%	—	G3643J108
TLN	TALEN ENERGY CORP	191,560	$81,486	2.9%	$361.29	+7.6%	—	87422Q109
HLT	HILTON WORLDWIDE HLDGS INC	309,390	$80,268	2.8%	$152.82	+78.1%	—	43300A203
HSIC	HENRY SCHEIN INC	850,000	$56,415	2.0%	$71.87	-2.1%	CALL	806407102
FICO	FAIR ISAAC CORP	1,463	$2,189	0.1%	$1503.82	+14.5%	—	303250104

Decreased Positions (11)

MSFT MICROSOFT CORP 2.5%

Value ($000) $71,297 (-62.7%) Shares 147,424 (-60.0%) Est. Cost $378.08 Unrealized +32.4%

HSIC HENRY SCHEIN INC 6.4%

Value ($000) $180,095 (-37.3%) Shares 2,382,837 (-45.0%) Est. Cost $71.87 Unrealized -2.1%

NVDA NVIDIA CORPORATION 1.3%

Value ($000) $38,071 (-64.6%) Shares 204,136 (-64.6%) Est. Cost $174.29 Unrealized +6.8%

COF CAPITAL ONE FINL CORP 2.9%

Value ($000) $82,498 (-43.7%) Shares 340,394 (-50.6%) Est. Cost $141.22 Unrealized +57.3%

PTC PTC INC 1.4%

Value ($000) $40,836 (-57.5%) Shares 234,407 (-50.5%) Est. Cost $144.46 Unrealized +28.6%

PRMB PRIMO BRANDS CORPORATION 2.3%

Value ($000) $65,359 (-41.6%) Shares 3,997,498 (-21.0%) Est. Cost $31.97 Unrealized -42.2%

CRH CRH PLC 3.0%

Value ($000) $84,175 (-20.9%) Shares 674,483 (-24.0%) Est. Cost $73.18 Unrealized +62.8%

PSKY PARAMOUNT SKYDANCE CORP 0.2%

Value ($000) $4,328 (-82.4%) Shares 323,000 (-75.1%) Est. Cost $14.51 Unrealized +7.3%

CRM SALESFORCE INC 4.0%

Value ($000) $112,195 (-13.6%) Shares 423,522 (-22.7%) Est. Cost $225.54 Unrealized +10.0%

CVNA CARVANA CO 4.4%

Value ($000) $123,463 (-10.6%) Shares 292,552 (-20.1%) Est. Cost $204.45 Unrealized +81.8%

APP APPLOVIN CORP 3.0%

Value ($000) $84,752 (-14.7%) Shares 125,779 (-9.0%) Est. Cost $324.21 Unrealized +94.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	147,424 (-60.0%)	$71,297 (-62.7%)	2.5%	$378.08	+32.4%	COM	594918104
HSIC	HENRY SCHEIN INC	2,382,837 (-45.0%)	$180,095 (-37.3%)	6.4%	$71.87	-2.1%	COM	806407102
NVDA	NVIDIA CORPORATION	204,136 (-64.6%)	$38,071 (-64.6%)	1.3%	$174.29	+6.8%	COM	67066G104
COF	CAPITAL ONE FINL CORP	340,394 (-50.6%)	$82,498 (-43.7%)	2.9%	$141.22	+57.3%	COM	14040H105
PTC	PTC INC	234,407 (-50.5%)	$40,836 (-57.5%)	1.4%	$144.46	+28.6%	COM	69370C100
PRMB	PRIMO BRANDS CORPORATION	3,997,498 (-21.0%)	$65,359 (-41.6%)	2.3%	$31.97	-42.2%	CLASS A COM SHS	741623102
CRH	CRH PLC	674,483 (-24.0%)	$84,175 (-20.9%)	3.0%	$73.18	+62.8%	ORD	G25508105
PSKY	PARAMOUNT SKYDANCE CORP	323,000 (-75.1%)	$4,328 (-82.4%)	0.2%	$14.51	+7.3%	COM CL B	69932A204
CRM	SALESFORCE INC	423,522 (-22.7%)	$112,195 (-13.6%)	4.0%	$225.54	+10.0%	COM	79466L302
CVNA	CARVANA CO	292,552 (-20.1%)	$123,463 (-10.6%)	4.4%	$204.45	+81.8%	CL A	146869102
APP	APPLOVIN CORP	125,779 (-9.0%)	$84,752 (-14.7%)	3.0%	$324.21	+94.4%	COM CL A	03831W108

Unchanged Positions (2)

LUMN LUMEN TECHNOLOGIES INC 3.1%

Value ($000) $86,772 Shares 11,167,585 Est. Cost $3.12 Unrealized +164.2%

DLTR DOLLAR TREE INC 1.0%

Value ($000) $27,517 Shares 223,700 Est. Cost $133.96 Unrealized -20.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LUMN	LUMEN TECHNOLOGIES INC	11,167,585	$86,772	3.1%	$3.12	+164.2%	COM	550241103
DLTR	DOLLAR TREE INC	223,700	$27,517	1.0%	$133.96	-20.0%	COM	256746108