Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	3,728,387 (+40.8%)	$650M (+31.6%)	21.7%	$152.66	+22.3%	COM	67066G104
CVNA	CARVANA CO	1,252,960 (+27.9%)	$394M (-4.7%)	13.1%	$372.10	+9.8%	CL A	146869102
CPNG	COUPANG INC	27,852,856 (+29.1%)	$526M (+3.3%)	17.5%	$21.75	-8.7%	CL A	22266T109

Exited Positions (11)

— DAYFORCE INC 10.9%

Value $328M Shares 4,749,842 Est. Cost $57.67 Unrealized +20.1%

MELI MERCADOLIBRE INC 10.7%

Value $323M Shares 160,193 Est. Cost $2294.06 Unrealized -9.9%

PDD PDD HOLDINGS INC 6.9%

Value $208M Shares 1,835,428 Est. Cost $109.96 Unrealized —

DUOL DUOLINGO INC 6.8%

Value $204M Shares 1,159,887 Est. Cost $308.86 Unrealized -55.4%

EXE EXPAND ENERGY CORPORATION 4.9%

Value $146M Shares 1,319,618 Est. Cost $110.64 Unrealized -4.4%

CRK COMSTOCK RES INC 3.3%

Value $99.63M Shares 4,298,202 Est. Cost $22.04 Unrealized -2.8%

— JAMF HLDG CORP 1.9%

Value $56.31M Shares 4,328,286 Est. Cost $36.29 Unrealized —

NAVN NAVAN INC 1.2%

Value $35.79M Shares 2,095,507 Est. Cost $15.89 Unrealized -18.3%

MDLN MEDLINE INC 0.7%

Value $22.05M Shares 525,000 Est. Cost $42.23 Unrealized +6.2%

FIG FIGMA INC 0.5%

Value $16.11M Shares 431,165 Est. Cost $68.66 Unrealized -58.6%

GEMI GEMINI SPACE STA INC 0.3%

Value $8.035M Shares 810,000 Est. Cost $25.81 Unrealized -66.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	DAYFORCE INC	4,749,842	$328M	10.9%	$57.67	+20.1%	—	15677J108
MELI	MERCADOLIBRE INC	160,193	$323M	10.7%	$2294.06	-9.9%	—	58733R102
PDD	PDD HOLDINGS INC	1,835,428	$208M	6.9%	$109.96	—	—	722304102
DUOL	DUOLINGO INC	1,159,887	$204M	6.8%	$308.86	-55.4%	—	26603R106
EXE	EXPAND ENERGY CORPORATION	1,319,618	$146M	4.9%	$110.64	-4.4%	—	165167735
CRK	COMSTOCK RES INC	4,298,202	$99.63M	3.3%	$22.04	-2.8%	—	205768302
—	JAMF HLDG CORP	4,328,286	$56.31M	1.9%	$36.29	—	—	47074L105
NAVN	NAVAN INC	2,095,507	$35.79M	1.2%	$15.89	-18.3%	—	639193101
MDLN	MEDLINE INC	525,000	$22.05M	0.7%	$42.23	+6.2%	—	58507V107
FIG	FIGMA INC	431,165	$16.11M	0.5%	$68.66	-58.6%	—	316841105
GEMI	GEMINI SPACE STA INC	810,000	$8.035M	0.3%	$25.81	-66.7%	—	36866J105

Decreased Positions (5)

KLAR KLARNA GROUP PLC 2.5%

Value $75.97M (-68.3%) Shares 5,803,764 (-29.9%) Est. Cost $42.59 Unrealized -44.9%

XYZ BLOCK INC 5.9%

Value $176M (-45.8%) Shares 2,918,392 (-41.4%) Est. Cost $73.08 Unrealized -17.5%

CHYM CHIME FINL INC 2.7%

Value $80.71M (-62.5%) Shares 4,308,999 (-49.6%) Est. Cost $32.95 Unrealized -27.2%

GLBE GLOBAL E ONLINE LTD 11.4%

Value $343M (-23.2%) Shares 11,115,629 (-2.2%) Est. Cost $30.58 Unrealized +18.4%

OSCR OSCAR HEALTH INC 0.1%

Value $4.193M (-55.6%) Shares 365,573 (-44.4%) Est. Cost $8.07 Unrealized +82.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KLAR	KLARNA GROUP PLC	5,803,764 (-29.9%)	$75.97M (-68.3%)	2.5%	$42.59	-44.9%	SHS	G5279N105
XYZ	BLOCK INC	2,918,392 (-41.4%)	$176M (-45.8%)	5.9%	$73.08	-17.5%	CL A	852234103
CHYM	CHIME FINL INC	4,308,999 (-49.6%)	$80.71M (-62.5%)	2.7%	$32.95	-27.2%	COM SHS CL A	16935C109
GLBE	GLOBAL E ONLINE LTD	11,115,629 (-2.2%)	$343M (-23.2%)	11.4%	$30.58	+18.4%	SHS	M5216V106
OSCR	OSCAR HEALTH INC	365,573 (-44.4%)	$4.193M (-55.6%)	0.1%	$8.07	+82.4%	CL A	687793109

Unchanged Positions (8)

SAIL SAILPOINT INC 3.5%

Value $106M Shares 8,000,000 Est. Cost $21.79 Unrealized -23.5%

TTAN SERVICETITAN INC 2.1%

Value $63.52M Shares 1,000,885 Est. Cost $104.38 Unrealized -22.6%

CCC CCC INTELLIGENT SOLUTIONS HL 1.8%

Value $55.18M Shares 9,196,301 Est. Cost $10.62 Unrealized -35.0%

NU NU HLDGS LTD 2.4%

Value $71.19M Shares 4,954,299 Est. Cost $9.82 Unrealized +76.6%

DDOG DATADOG INC 1.1%

Value $32.09M Shares 271,800 Est. Cost $104.65 Unrealized +18.4%

ROOT ROOT INC 0.2%

Value $6.816M Shares 154,320 Est. Cost $15.65 Unrealized +320.0%

WLTH WEALTHFRONT CORP 0.2%

Value $6.053M Shares 654,338 Est. Cost $13.20 Unrealized -27.4%

GTM ZOOMINFO TECHNOLOGIES INC 0.1%

Value $4.007M Shares 670,000 Est. Cost $37.43 Unrealized -78.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SAIL	SAILPOINT INC	8,000,000	$106M	3.5%	$21.79	-23.5%	COM	78781J109
TTAN	SERVICETITAN INC	1,000,885	$63.52M	2.1%	$104.38	-22.6%	SHS CL A	81764X103
CCC	CCC INTELLIGENT SOLUTIONS HL	9,196,301	$55.18M	1.8%	$10.62	-35.0%	COM	12510Q100
NU	NU HLDGS LTD	4,954,299	$71.19M	2.4%	$9.82	+76.6%	ORD SHS CL A	G6683N103
DDOG	DATADOG INC	271,800	$32.09M	1.1%	$104.65	+18.4%	CL A COM	23804L103
ROOT	ROOT INC	154,320	$6.816M	0.2%	$15.65	+320.0%	CL A NEW	77664L207
WLTH	WEALTHFRONT CORP	654,338	$6.053M	0.2%	$13.20	-27.4%	COM	947002101
GTM	ZOOMINFO TECHNOLOGIES INC	670,000	$4.007M	0.1%	$37.43	-78.3%	COMMON STOCK	98980F104