Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPCX	SPACE EXPLORATION TECHN CORP	7,125,795	$1.218B	29.1%	—	—	CLASS A COM STK	84615Q103
DPC	DPC HOLDINGS PLC	6,931,158	$340M	8.1%	—	—	ORDINARY SHARES	G2R11M108
SNOW	SNOWFLAKE INC	805,000	$205M	4.9%	—	—	COM SHS	833445109
LLY	ELI LILLY & CO	112,720	$135M	3.2%	—	—	COM	532457108
FLEX	FLEX LTD	354,000	$57.37M	1.4%	—	—	ORD	Y2573F102
NUE	NUCOR CORP	170,700	$38.02M	0.9%	—	—	COM	670346105
NBIS	NEBIUS GROUP N.V.	100,100	$27.64M	0.7%	—	—	SHS CLASS A	N97284108
QURE	UNIQURE NV	581,000	$26.76M	0.6%	—	—	SHS	N90064101

Increased Positions (15)

MDB MONGODB INC 3.3%

Value $140M (+1441.9%) Shares 417,606 (+1023.6%) Est. Cost — Unrealized —

STX SEAGATE TECHNOLOGY HLDNGS PL 2.5%

Value $105M (+353.1%) Shares 108,897 (+83.9%) Est. Cost — Unrealized —

WWD WOODWARD INC 3.0%

Value $127M (+103.7%) Shares 299,398 (+71.4%) Est. Cost — Unrealized —

CRWV COREWEAVE INC 2.2%

Value $90.07M (+119.1%) Shares 904,900 (+70.5%) Est. Cost — Unrealized —

CSTM CONSTELLIUM SE 1.9%

Value $81.03M (+151.2%) Shares 2,542,400 (+93.7%) Est. Cost — Unrealized —

GOOG ALPHABET INC 1.4%

Value $58.74M (+417.1%) Shares 166,260 (+319.8%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 1.2%

Value $50.89M (+776.7%) Shares 136,421 (+770.0%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 4.4%

Value $183M (+16.2%) Shares 767,552 (+1.6%) Est. Cost — Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC 1.7%

Value $69.75M (+25.8%) Shares 787,200 (+8.2%) Est. Cost — Unrealized —

RTX RTX CORPORATION 2.1%

Value $89.04M (+16.4%) Shares 469,300 (+18.4%) Est. Cost — Unrealized —

CLF CLEVELAND-CLIFFS INC NEW 1.3%

Value $56.51M (+27.5%) Shares 6,018,200 (+14.8%) Est. Cost — Unrealized —

SITE SITEONE LANDSCAPE SUPPLY INC 0.4%

Value $16.72M (+49.3%) Shares 146,101 (+73.7%) Est. Cost — Unrealized —

KLAC KLA CORP 0.8%

Value $34.09M (+16.5%) Shares 113,000 (+468.4%) Est. Cost — Unrealized —

CENX CENTURY ALUM CO 0.9%

Value $35.74M (+14.5%) Shares 776,700 (+46.1%) Est. Cost — Unrealized —

CVNA CARVANA CO 1.4%

Value $57.15M (+5.4%) Shares 868,295 (+403.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MDB	MONGODB INC	417,606 (+1023.6%)	$140M (+1441.9%)	3.3%	—	—	CL A	60937P106
STX	SEAGATE TECHNOLOGY HLDNGS PL	108,897 (+83.9%)	$105M (+353.1%)	2.5%	—	—	ORD SHS	G7997R103
WWD	WOODWARD INC	299,398 (+71.4%)	$127M (+103.7%)	3.0%	—	—	COM	980745103
CRWV	COREWEAVE INC	904,900 (+70.5%)	$90.07M (+119.1%)	2.2%	—	—	COM CL A	21873S108
CSTM	CONSTELLIUM SE	2,542,400 (+93.7%)	$81.03M (+151.2%)	1.9%	—	—	CL A SHS	F21107101
GOOG	ALPHABET INC	166,260 (+319.8%)	$58.74M (+417.1%)	1.4%	—	—	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	136,421 (+770.0%)	$50.89M (+776.7%)	1.2%	—	—	COM	594918104
AMZN	AMAZON COM INC	767,552 (+1.6%)	$183M (+16.2%)	4.4%	—	—	COM	023135106
SOLS	SOLSTICE ADVANCED MATLS INC	787,200 (+8.2%)	$69.75M (+25.8%)	1.7%	—	—	COM SHS	83443Q103
RTX	RTX CORPORATION	469,300 (+18.4%)	$89.04M (+16.4%)	2.1%	—	—	COM	75513E101
CLF	CLEVELAND-CLIFFS INC NEW	6,018,200 (+14.8%)	$56.51M (+27.5%)	1.3%	—	—	COM	185899101
SITE	SITEONE LANDSCAPE SUPPLY INC	146,101 (+73.7%)	$16.72M (+49.3%)	0.4%	—	—	COM	82982L103
KLAC	KLA CORP	113,000 (+468.4%)	$34.09M (+16.5%)	0.8%	—	—	COM NEW	482480100
CENX	CENTURY ALUM CO	776,700 (+46.1%)	$35.74M (+14.5%)	0.9%	—	—	COM	156431108
CVNA	CARVANA CO	868,295 (+403.6%)	$57.15M (+5.4%)	1.4%	—	—	CL A	146869102

Exited Positions (10)

AVGO BROADCOM INC 2.7%

Value $112M Shares 361,040 Est. Cost — Unrealized —

CLS CELESTICA INC 0.8%

Value $34.65M Shares 123,000 Est. Cost — Unrealized —

AGX ARGAN INC 0.8%

Value $33.77M Shares 62,000 Est. Cost — Unrealized —

DIS DISNEY WALT CO 0.5%

Value $21.49M Shares 222,973 Est. Cost — Unrealized —

AEO AMERICAN EAGLE OUTFITTERS IN 0.2%

Value $7.538M Shares 451,400 Est. Cost — Unrealized —

ORCL ORACLE CORP 0.1%

Value $6.267M Shares 42,600 Est. Cost — Unrealized —

TSLA TESLA INC 0.1%

Value $4.702M Shares 12,648 Est. Cost — Unrealized —

RDDT REDDIT INC 0.1%

Value $3.307M Shares 24,560 Est. Cost — Unrealized —

CPNG COUPANG INC 0.1%

Value $2.326M Shares 123,200 Est. Cost — Unrealized —

NCNO NCINO INC 0.1%

Value $2.109M Shares 140,800 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	361,040	$112M	2.7%	—	—	—	11135F101
CLS	CELESTICA INC	123,000	$34.65M	0.8%	—	—	—	15101Q207
AGX	ARGAN INC	62,000	$33.77M	0.8%	—	—	—	04010E109
DIS	DISNEY WALT CO	222,973	$21.49M	0.5%	—	—	—	254687106
AEO	AMERICAN EAGLE OUTFITTERS IN	451,400	$7.538M	0.2%	—	—	—	02553E106
ORCL	ORACLE CORP	42,600	$6.267M	0.1%	—	—	—	68389X105
TSLA	TESLA INC	12,648	$4.702M	0.1%	—	—	—	88160R101
RDDT	REDDIT INC	24,560	$3.307M	0.1%	—	—	—	75734B100
CPNG	COUPANG INC	123,200	$2.326M	0.1%	—	—	—	22266T109
NCNO	NCINO INC	140,800	$2.109M	0.1%	—	—	—	63947X101

Decreased Positions (19)

AMD ADVANCED MICRO DEVICES INC 2.4%

Value $99.05M (+110.6%) Shares 170,500 (-26.3%) Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 0.2%

Value $6.96M (-85.4%) Shares 15,160 (-84.6%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 3.7%

Value $154M (+31.2%) Shares 323,254 (-7.2%) Est. Cost — Unrealized —

SHOP SHOPIFY INC 0.4%

Value $16.92M (-62.2%) Shares 148,226 (-60.7%) Est. Cost — Unrealized —

SNDK SANDISK CORP 1.2%

Value $52.17M (+66.9%) Shares 22,946 (-53.4%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 4.1%

Value $171M (+11.5%) Shares 855,724 (-2.8%) Est. Cost — Unrealized —

SHW SHERWIN WILLIAMS CO 0.2%

Value $7.256M (-69.0%) Shares 21,073 (-71.1%) Est. Cost — Unrealized —

FROG JFROG LTD 0.2%

Value $9.772M (-53.8%) Shares 107,525 (-76.1%) Est. Cost — Unrealized —

SE SEA LTD 2.7%

Value $114M (+10.4%) Shares 1,194,356 (-4.6%) Est. Cost — Unrealized —

CRS CARPENTER TECHNOLOGY CORP 0.5%

Value $19.12M (-32.4%) Shares 31,000 (-56.8%) Est. Cost — Unrealized —

PFSI PENNYMAC FINL SVCS INC NEW 0.4%

Value $18.28M (-32.3%) Shares 209,900 (-32.0%) Est. Cost — Unrealized —

APP APPLOVIN CORP 0.4%

Value $17.92M (-19.4%) Shares 34,786 (-37.8%) Est. Cost — Unrealized —

GEV GE VERNOVA INC 0.7%

Value $30.43M (+14.7%) Shares 25,905 (-14.8%) Est. Cost — Unrealized —

RBLX ROBLOX CORP 0.2%

Value $6.569M (-35.3%) Shares 120,800 (-32.7%) Est. Cost — Unrealized —

FERG FERGUSON ENTERPRISES INC 0.5%

Value $19.15M (-15.0%) Shares 80,710 (-16.4%) Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 0.8%

Value $31.6M (+11.5%) Shares 43,700 (-47.3%) Est. Cost — Unrealized —

DASH DOORDASH INC 0.7%

Value $27.98M (-5.5%) Shares 151,652 (-23.1%) Est. Cost — Unrealized —

JHX JAMES HARDIE INDS PLC 0.8%

Value $34.03M (+5.0%) Shares 1,300,000 (-24.1%) Est. Cost — Unrealized —

DDOG DATADOG INC 0.5%

Value $19.36M (+5.2%) Shares 74,348 (-52.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMD	ADVANCED MICRO DEVICES INC	170,500 (-26.3%)	$99.05M (+110.6%)	2.4%	—	—	COM	007903107
SPOT	SPOTIFY TECHNOLOGY S A	15,160 (-84.6%)	$6.96M (-85.4%)	0.2%	—	—	SHS	L8681T102
TSM	TAIWAN SEMICONDUCTOR MANUFAC	323,254 (-7.2%)	$154M (+31.2%)	3.7%	—	—	SPONSORED ADS	874039100
SHOP	SHOPIFY INC	148,226 (-60.7%)	$16.92M (-62.2%)	0.4%	—	—	CL A SUB VTG SHS	82509L107
SNDK	SANDISK CORP	22,946 (-53.4%)	$52.17M (+66.9%)	1.2%	—	—	COM	80004C200
NVDA	NVIDIA CORPORATION	855,724 (-2.8%)	$171M (+11.5%)	4.1%	—	—	COM	67066G104
SHW	SHERWIN WILLIAMS CO	21,073 (-71.1%)	$7.256M (-69.0%)	0.2%	—	—	COM	824348106
FROG	JFROG LTD	107,525 (-76.1%)	$9.772M (-53.8%)	0.2%	—	—	ORD SHS	M6191J100
SE	SEA LTD	1,194,356 (-4.6%)	$114M (+10.4%)	2.7%	—	—	SPONSORD ADS	81141R100
CRS	CARPENTER TECHNOLOGY CORP	31,000 (-56.8%)	$19.12M (-32.4%)	0.5%	—	—	COM	144285103
PFSI	PENNYMAC FINL SVCS INC NEW	209,900 (-32.0%)	$18.28M (-32.3%)	0.4%	—	—	COM	70932M107
APP	APPLOVIN CORP	34,786 (-37.8%)	$17.92M (-19.4%)	0.4%	—	—	COM CL A	03831W108
GEV	GE VERNOVA INC	25,905 (-14.8%)	$30.43M (+14.7%)	0.7%	—	—	COM	36828A101
RBLX	ROBLOX CORP	120,800 (-32.7%)	$6.569M (-35.3%)	0.2%	—	—	CL A	771049103
FERG	FERGUSON ENTERPRISES INC	80,710 (-16.4%)	$19.15M (-15.0%)	0.5%	—	—	COMMON STOCK NEW	31488V107
AMAT	APPLIED MATLS INC	43,700 (-47.3%)	$31.6M (+11.5%)	0.8%	—	—	COM	038222105
DASH	DOORDASH INC	151,652 (-23.1%)	$27.98M (-5.5%)	0.7%	—	—	CL A	25809K105
JHX	JAMES HARDIE INDS PLC	1,300,000 (-24.1%)	$34.03M (+5.0%)	0.8%	—	—	ORD SHS	G4253H101
DDOG	DATADOG INC	74,348 (-52.3%)	$19.36M (+5.2%)	0.5%	—	—	CL A COM	23804L103

Unchanged Positions (5)

GH GUARDANT HEALTH INC 0.5%

Value $19.49M Shares 129,900 Est. Cost — Unrealized —

NTRA NATERA INC 0.4%

Value $16.5M Shares 60,800 Est. Cost — Unrealized —

NU NU HLDGS LTD 0.8%

Value $33.63M Shares 2,517,028 Est. Cost — Unrealized —

RKT ROCKET COS INC 0.2%

Value $9.491M Shares 602,600 Est. Cost — Unrealized —

LPX LOUISIANA PAC CORP 0.3%

Value $10.49M Shares 133,395 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GH	GUARDANT HEALTH INC	129,900	$19.49M	0.5%	—	—	COM	40131M109
NTRA	NATERA INC	60,800	$16.5M	0.4%	—	—	COM	632307104
NU	NU HLDGS LTD	2,517,028	$33.63M	0.8%	—	—	ORD SHS CL A	G6683N103
RKT	ROCKET COS INC	602,600	$9.491M	0.2%	—	—	COM CL A	77311W101
LPX	LOUISIANA PAC CORP	133,395	$10.49M	0.3%	—	—	COM	546347105