Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GEV	GE VERNOVA INC	18,462	$16.12M	7.0%	—	—	COM	36828A101
AMT	AMERICAN TOWER CORP	52,908	$9.131M	4.0%	—	—	COM	03027X100
EIKN	EIKON THERAPEUTICS INC	484,672	$5.128M	2.2%	—	—	COM	282564103
ADI	ANALOG DEVICES INC	15,500	$4.931M	2.1%	—	—	COM	032654105
TXN	TEXAS INSTRS INC	25,300	$4.912M	2.1%	—	—	COM	882508104
SKYW	SKYWEST INC	15,262	$1.402M	0.6%	—	—	COM	830879102
AS	AMER SPORTS INC	21,027	$692K	0.3%	—	—	COM SHS	G0260P102

Increased Positions (17)

FIX COMFORT SYS USA INC 7.1%

Value $16.3M (+179.1%) Shares 11,823 (+88.9%) Est. Cost — Unrealized —

PUMP PROPETRO HLDG CORP 6.8%

Value $15.72M (+141.5%) Shares 1,091,081 (+59.4%) Est. Cost — Unrealized —

CAT CATERPILLAR INC 5.1%

Value $11.69M (+144.1%) Shares 16,500 (+97.4%) Est. Cost — Unrealized —

MSI MOTOROLA SOLUTIONS INC 2.7%

Value $6.172M (+128.4%) Shares 14,223 (+101.7%) Est. Cost — Unrealized —

BKNG BOOKING HOLDINGS INC 1.0%

Value $2.303M (+102.9%) Shares 547 (+158.0%) Est. Cost — Unrealized —

ALC ALCON AG 3.1%

Value $7.107M (+19.3%) Shares 94,320 (+24.8%) Est. Cost — Unrealized —

TJX TJX COS INC NEW 1.3%

Value $3.05M (+42.3%) Shares 19,098 (+36.8%) Est. Cost — Unrealized —

NKE NIKE INC 1.6%

Value $3.628M (-15.9%) Shares 68,690 (+1.4%) Est. Cost — Unrealized —

NFLX NETFLIX INC. 1.3%

Value $2.971M (+27.1%) Shares 30,895 (+23.9%) Est. Cost — Unrealized —

VRSN VERISIGN INC 2.2%

Value $5.12M (+13.9%) Shares 20,615 (+11.5%) Est. Cost — Unrealized —

LOW LOWES COS INC 1.9%

Value $4.464M (+9.1%) Shares 18,892 (+11.4%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.9%

Value $2.024M (+14.4%) Shares 11,603 (+22.3%) Est. Cost — Unrealized —

CPAY CORPAY INC 1.6%

Value $3.734M (+6.7%) Shares 12,831 (+10.4%) Est. Cost — Unrealized —

IUSB ISHARES TR 0.1%

Value $297K (+36.8%) Shares 6,436 (+37.9%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 3.1%

Value $7.211M (-1.0%) Shares 34,622 (+9.7%) Est. Cost — Unrealized —

IVV ISHARES TR 0.2%

Value $428K (+17.4%) Shares 655 (+23.1%) Est. Cost — Unrealized —

DHR DANAHER CORP DEL 2.7%

Value $6.255M (+0.0%) Shares 32,991 (+20.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FIX	COMFORT SYS USA INC	11,823 (+88.9%)	$16.3M (+179.1%)	7.1%	—	—	COM	199908104
PUMP	PROPETRO HLDG CORP	1,091,081 (+59.4%)	$15.72M (+141.5%)	6.8%	—	—	COM	74347M108
CAT	CATERPILLAR INC	16,500 (+97.4%)	$11.69M (+144.1%)	5.1%	—	—	COM	149123101
MSI	MOTOROLA SOLUTIONS INC	14,223 (+101.7%)	$6.172M (+128.4%)	2.7%	—	—	COM NEW	620076307
BKNG	BOOKING HOLDINGS INC	547 (+158.0%)	$2.303M (+102.9%)	1.0%	—	—	COM	09857L108
ALC	ALCON AG	94,320 (+24.8%)	$7.107M (+19.3%)	3.1%	—	—	ORD SHS	H01301128
TJX	TJX COS INC NEW	19,098 (+36.8%)	$3.05M (+42.3%)	1.3%	—	—	COM	872540109
NKE	NIKE INC	68,690 (+1.4%)	$3.628M (-15.9%)	1.6%	—	—	CL B	654106103
NFLX	NETFLIX INC.	30,895 (+23.9%)	$2.971M (+27.1%)	1.3%	—	—	COM	64110L106
VRSN	VERISIGN INC	20,615 (+11.5%)	$5.12M (+13.9%)	2.2%	—	—	COM	92343E102
LOW	LOWES COS INC	18,892 (+11.4%)	$4.464M (+9.1%)	1.9%	—	—	COM	548661107
NVDA	NVIDIA CORPORATION	11,603 (+22.3%)	$2.024M (+14.4%)	0.9%	—	—	COM	67066G104
CPAY	CORPAY INC	12,831 (+10.4%)	$3.734M (+6.7%)	1.6%	—	—	COM SHS	219948106
IUSB	ISHARES TR	6,436 (+37.9%)	$297K (+36.8%)	0.1%	—	—	CORE UNIVRSL USD	46434V613
AMZN	AMAZON COM INC	34,622 (+9.7%)	$7.211M (-1.0%)	3.1%	—	—	COM	023135106
IVV	ISHARES TR	655 (+23.1%)	$428K (+17.4%)	0.2%	—	—	CORE S&P500 ETF	464287200
DHR	DANAHER CORP DEL	32,991 (+20.7%)	$6.255M (+0.0%)	2.7%	—	—	COM	235851102

Exited Positions (17)

NBIS NEBIUS GROUP N.V. 8.3%

Value $19.17M Shares 229,000 Est. Cost — Unrealized —

GM GENERAL MTRS CO 4.6%

Value $10.69M Shares 131,400 Est. Cost — Unrealized —

CHDN CHURCHILL DOWNS INC 2.5%

Value $5.705M Shares 50,144 Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 2.3%

Value $5.237M Shares 54,923 Est. Cost — Unrealized —

EWY ISHARES INC 2.2%

Value $5.114M Shares 52,600 Est. Cost — Unrealized —

TM TOYOTA MOTOR CORP 2.2%

Value $4.966M Shares 23,200 Est. Cost — Unrealized —

ON ON SEMICONDUCTOR CORP 2.1%

Value $4.857M Shares 89,700 Est. Cost — Unrealized —

EWZ ISHARES INC 2.1%

Value $4.766M Shares 150,000 Est. Cost — Unrealized —

AEO AMERICAN EAGLE OUTFITTERS IN 1.6%

Value $3.78M Shares 143,343 Est. Cost — Unrealized —

CZR CAESARS ENTERTAINMENT INC NE 1.0%

Value $2.335M Shares 99,835 Est. Cost — Unrealized —

SEI SOLARIS ENERGY INFRAS INC 0.9%

Value $2.013M Shares 43,800 Est. Cost — Unrealized —

GAP GAP INC 0.8%

Value $1.897M Shares 74,100 Est. Cost — Unrealized —

TRU TRANSUNION 0.8%

Value $1.844M Shares 21,510 Est. Cost — Unrealized —

ABT ABBOTT LABS 0.3%

Value $703K Shares 5,611 Est. Cost — Unrealized —

RVMDW REVOLUTION MEDICINES INC 0.1%

Value $343K Shares 364,824 Est. Cost — Unrealized —

RBLX ROBLOX CORP 0.1%

Value $305K Shares 3,758 Est. Cost — Unrealized —

EAT BRINKER INTL INC 0.1%

Value $291K Shares 2,027 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NBIS	NEBIUS GROUP N.V.	229,000	$19.17M	8.3%	—	—	—	N97284108
GM	GENERAL MTRS CO	131,400	$10.69M	4.6%	—	—	—	37045V100
CHDN	CHURCHILL DOWNS INC	50,144	$5.705M	2.5%	—	—	—	171484108
BSX	BOSTON SCIENTIFIC CORP	54,923	$5.237M	2.3%	—	—	—	101137107
EWY	ISHARES INC	52,600	$5.114M	2.2%	—	—	—	464286772
TM	TOYOTA MOTOR CORP	23,200	$4.966M	2.2%	—	—	—	892331307
ON	ON SEMICONDUCTOR CORP	89,700	$4.857M	2.1%	—	—	—	682189105
EWZ	ISHARES INC	150,000	$4.766M	2.1%	—	—	—	464286400
AEO	AMERICAN EAGLE OUTFITTERS IN	143,343	$3.78M	1.6%	—	—	—	02553E106
CZR	CAESARS ENTERTAINMENT INC NE	99,835	$2.335M	1.0%	—	—	—	12769G100
SEI	SOLARIS ENERGY INFRAS INC	43,800	$2.013M	0.9%	—	—	—	83418M103
GAP	GAP INC	74,100	$1.897M	0.8%	—	—	—	364760108
TRU	TRANSUNION	21,510	$1.844M	0.8%	—	—	—	89400J107
ABT	ABBOTT LABS	5,611	$703K	0.3%	—	—	—	002824100
RVMDW	REVOLUTION MEDICINES INC	364,824	$343K	0.1%	—	—	—	76155X118
RBLX	ROBLOX CORP	3,758	$305K	0.1%	—	—	—	771049103
EAT	BRINKER INTL INC	2,027	$291K	0.1%	—	—	—	109641100

Decreased Positions (20)

GOOGL ALPHABET INC 0.8%

Value $1.76M (-97.7%) Shares 6,120 (-97.5%) Est. Cost — Unrealized —

AVGO BROADCOM INC 0.9%

Value $2.075M (-92.6%) Shares 6,705 (-91.7%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.8%

Value $1.801M (-92.9%) Shares 5,330 (-93.6%) Est. Cost — Unrealized —

FLUT FLUTTER ENTMT PLC 0.1%

Value $323K (-95.6%) Shares 3,165 (-90.7%) Est. Cost — Unrealized —

V VISA INC 2.8%

Value $6.517M (-40.6%) Shares 21,561 (-31.0%) Est. Cost — Unrealized —

GDDY GODADDY INC 0.6%

Value $1.325M (-74.7%) Shares 16,024 (-62.0%) Est. Cost — Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 1.1%

Value $2.428M (-56.5%) Shares 15,435 (-55.2%) Est. Cost — Unrealized —

WULF TERAWULF INC 4.5%

Value $10.28M (+23.2%) Shares 712,516 (-1.9%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.7%

Value $1.71M (-43.1%) Shares 2,988 (-34.4%) Est. Cost — Unrealized —

EME EMCOR GROUP INC 2.0%

Value $4.528M (-19.6%) Shares 6,133 (-33.3%) Est. Cost — Unrealized —

HD HOME DEPOT INC 1.8%

Value $4.204M (-20.1%) Shares 12,781 (-16.4%) Est. Cost — Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.8%

Value $1.779M (-30.6%) Shares 3,619 (-18.2%) Est. Cost — Unrealized —

ASML ASML HLDG NV 2.0%

Value $4.517M (+15.8%) Shares 3,420 (-6.2%) Est. Cost — Unrealized —

TPR TAPESTRY INC 0.2%

Value $538K (-51.9%) Shares 3,815 (-56.4%) Est. Cost — Unrealized —

CASY CASEYS GEN STORES INC 1.7%

Value $3.839M (+15.4%) Shares 5,275 (-12.4%) Est. Cost — Unrealized —

ZTS ZOETIS INC 1.8%

Value $4.111M (-10.9%) Shares 34,773 (-5.2%) Est. Cost — Unrealized —

UNP UNION PAC CORP 1.9%

Value $4.414M (-9.2%) Shares 18,195 (-13.4%) Est. Cost — Unrealized —

BE BLOOM ENERGY CORP 2.2%

Value $5.149M (+4.0%) Shares 38,000 (-33.3%) Est. Cost — Unrealized —

SBUX STARBUCKS CORP 1.8%

Value $4.224M (-2.6%) Shares 47,146 (-8.4%) Est. Cost — Unrealized —

PWR QUANTA SVCS INC 0.3%

Value $751K (-12.3%) Shares 1,368 (-32.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	6,120 (-97.5%)	$1.76M (-97.7%)	0.8%	—	—	CAP STK CL A	02079K305
AVGO	BROADCOM INC	6,705 (-91.7%)	$2.075M (-92.6%)	0.9%	—	—	COM	11135F101
TSM	TAIWAN SEMICONDUCTOR MANUFAC	5,330 (-93.6%)	$1.801M (-92.9%)	0.8%	—	—	SPONSORED ADS	874039100
FLUT	FLUTTER ENTMT PLC	3,165 (-90.7%)	$323K (-95.6%)	0.1%	—	—	SHS	G3643J108
V	VISA INC	21,561 (-31.0%)	$6.517M (-40.6%)	2.8%	—	—	COM CL A	92826C839
GDDY	GODADDY INC	16,024 (-62.0%)	$1.325M (-74.7%)	0.6%	—	—	CL A	380237107
ICE	INTERCONTINENTAL EXCHANGE IN	15,435 (-55.2%)	$2.428M (-56.5%)	1.1%	—	—	COM	45866F104
WULF	TERAWULF INC	712,516 (-1.9%)	$10.28M (+23.2%)	4.5%	—	—	COM	88080T104
META	META PLATFORMS INC	2,988 (-34.4%)	$1.71M (-43.1%)	0.7%	—	—	CL A	30303M102
EME	EMCOR GROUP INC	6,133 (-33.3%)	$4.528M (-19.6%)	2.0%	—	—	COM	29084Q100
HD	HOME DEPOT INC	12,781 (-16.4%)	$4.204M (-20.1%)	1.8%	—	—	COM	437076102
TMO	THERMO FISHER SCIENTIFIC INC	3,619 (-18.2%)	$1.779M (-30.6%)	0.8%	—	—	COM	883556102
ASML	ASML HLDG NV	3,420 (-6.2%)	$4.517M (+15.8%)	2.0%	—	—	N Y REGISTRY SHS	N07059210
TPR	TAPESTRY INC	3,815 (-56.4%)	$538K (-51.9%)	0.2%	—	—	COM	876030107
CASY	CASEYS GEN STORES INC	5,275 (-12.4%)	$3.839M (+15.4%)	1.7%	—	—	COM	147528103
ZTS	ZOETIS INC	34,773 (-5.2%)	$4.111M (-10.9%)	1.8%	—	—	CL A	98978V103
UNP	UNION PAC CORP	18,195 (-13.4%)	$4.414M (-9.2%)	1.9%	—	—	COM	907818108
BE	BLOOM ENERGY CORP	38,000 (-33.3%)	$5.149M (+4.0%)	2.2%	—	—	COM CL A	093712107
SBUX	STARBUCKS CORP	47,146 (-8.4%)	$4.224M (-2.6%)	1.8%	—	—	COM	855244109
PWR	QUANTA SVCS INC	1,368 (-32.6%)	$751K (-12.3%)	0.3%	—	—	COM	74762E102

Unchanged Positions (3)

PACK RANPAK HOLDINGS CORP 7.2%

Value $16.53M Shares 4,630,292 Est. Cost — Unrealized —

CP CANADIAN PACIFIC KANSAS CITY 2.4%

Value $5.424M Shares 68,953 Est. Cost — Unrealized —

GNRC GENERAC HLDGS INC 0.4%

Value $892K Shares 4,568 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PACK	RANPAK HOLDINGS CORP	4,630,292	$16.53M	7.2%	—	—	COM CL A	75321W103
CP	CANADIAN PACIFIC KANSAS CITY	68,953	$5.424M	2.4%	—	—	COM	13646K108
GNRC	GENERAC HLDGS INC	4,568	$892K	0.4%	—	—	COM	368736104