Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LRCX	LAM RESEARCH CORP	388,886	$169M	5.7%	—	—	COM NEW	512807306
AMD	ADVANCED MICRO DEVICES INC	237,958	$138M	4.7%	—	—	COM	007903107
JHX	JAMES HARDIE INDS PLC	4,130,497	$108M	3.7%	—	—	ORD SHS	G4253H101
TTMI	TTM TECHNOLOGIES INC	562,582	$105M	3.6%	—	—	COM	87305R109
TSM	TAIWAN SEMICONDUCTOR MANUFAC	41,307	$19.73M	0.7%	—	—	SPONSORED ADS	874039100

Increased Positions (10)

STX SEAGATE TECHNOLOGY HLDNGS PL 12.6%

Value $373M (+223.5%) Shares 386,123 (+31.3%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 7.6%

Value $225M (+547.0%) Shares 942,732 (+465.4%) Est. Cost — Unrealized —

CVNA CARVANA CO 1.8%

Value $52.37M (-58.1%) Shares 795,635 (+99.9%) Est. Cost — Unrealized —

ADI ANALOG DEVICES INC 7.6%

Value $225M (+44.7%) Shares 566,948 (+15.9%) Est. Cost — Unrealized —

LIN LINDE PLC 7.7%

Value $227M (+29.6%) Shares 436,859 (+23.8%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 2.6%

Value $78.1M (+145.1%) Shares 390,320 (+113.7%) Est. Cost — Unrealized —

UNP UNION PAC CORP 7.0%

Value $207M (+18.1%) Shares 762,465 (+5.3%) Est. Cost — Unrealized —

NU NU HLDGS LTD 6.4%

Value $188M (+17.3%) Shares 14,036,736 (+26.2%) Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 6.3%

Value $185M (+9.7%) Shares 403,160 (+15.9%) Est. Cost — Unrealized —

CPNG COUPANG INC 4.0%

Value $118M (+2.6%) Shares 6,771,181 (+11.5%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
STX	SEAGATE TECHNOLOGY HLDNGS PL	386,123 (+31.3%)	$373M (+223.5%)	12.6%	—	—	ORD SHS	G7997R103
AMZN	AMAZON COM INC	942,732 (+465.4%)	$225M (+547.0%)	7.6%	—	—	COM	023135106
CVNA	CARVANA CO	795,635 (+99.9%)	$52.37M (-58.1%)	1.8%	—	—	CL A	146869102
ADI	ANALOG DEVICES INC	566,948 (+15.9%)	$225M (+44.7%)	7.6%	—	—	COM	032654105
LIN	LINDE PLC	436,859 (+23.8%)	$227M (+29.6%)	7.7%	—	—	SHS	G54950103
NVDA	NVIDIA CORPORATION	390,320 (+113.7%)	$78.1M (+145.1%)	2.6%	—	—	COM	67066G104
UNP	UNION PAC CORP	762,465 (+5.3%)	$207M (+18.1%)	7.0%	—	—	COM	907818108
NU	NU HLDGS LTD	14,036,736 (+26.2%)	$188M (+17.3%)	6.4%	—	—	ORD SHS CL A	G6683N103
SPOT	SPOTIFY TECHNOLOGY S A	403,160 (+15.9%)	$185M (+9.7%)	6.3%	—	—	SHS	L8681T102
CPNG	COUPANG INC	6,771,181 (+11.5%)	$118M (+2.6%)	4.0%	—	—	CL A	22266T109

Exited Positions (7)

DHR DANAHER CORP DEL 4.4%

Value $129M Shares 677,750 Est. Cost — Unrealized —

PTC PTC INC 4.3%

Value $127M Shares 890,595 Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 3.3%

Value $97.95M Shares 286,566 Est. Cost — Unrealized —

APP APPLOVIN CORP 1.7%

Value $50.06M Shares 125,779 Est. Cost — Unrealized —

CRM SALESFORCE INC 0.7%

Value $21.75M Shares 116,527 Est. Cost — Unrealized —

PRMB PRIMO BRANDS CORPORATION 0.7%

Value $19.25M Shares 1,022,400 Est. Cost — Unrealized —

ROKU ROKU INC 0.2%

Value $5.033M Shares 53,189 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DHR	DANAHER CORP DEL	677,750	$129M	4.4%	—	—	—	235851102
PTC	PTC INC	890,595	$127M	4.3%	—	—	—	69370C100
AMAT	APPLIED MATLS INC	286,566	$97.95M	3.3%	—	—	—	038222105
APP	APPLOVIN CORP	125,779	$50.06M	1.7%	—	—	—	03831W108
CRM	SALESFORCE INC	116,527	$21.75M	0.7%	—	—	—	79466L302
PRMB	PRIMO BRANDS CORPORATION	1,022,400	$19.25M	0.7%	—	—	CALL	741623102
ROKU	ROKU INC	53,189	$5.033M	0.2%	—	—	—	77543R102

Decreased Positions (4)

V VISA INC 3.8%

Value $111M (-51.0%) Shares 324,572 (-56.8%) Est. Cost — Unrealized —

GOOGL ALPHABET INC 2.1%

Value $62.26M (-63.3%) Shares 174,221 (-70.5%) Est. Cost — Unrealized —

PRMB PRIMO BRANDS CORPORATION 3.8%

Value $113M (-34.0%) Shares 4,604,145 (-49.1%) Est. Cost — Unrealized —

HSIC SCHEIN HENRY INC 6.9%

Value $204M (-18.8%) Shares 2,446,691 (-28.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
V	VISA INC	324,572 (-56.8%)	$111M (-51.0%)	3.8%	—	—	COM CL A	92826C839
GOOGL	ALPHABET INC	174,221 (-70.5%)	$62.26M (-63.3%)	2.1%	—	—	CAP STK CL A	02079K305
PRMB	PRIMO BRANDS CORPORATION	4,604,145 (-49.1%)	$113M (-34.0%)	3.8%	—	—	CLASS A COM SHS	741623102
HSIC	SCHEIN HENRY INC	2,446,691 (-28.3%)	$204M (-18.8%)	6.9%	—	—	COM	806407102

Unchanged Positions (2)

PSKY PARAMOUNT SKYDANCE CORP 0.4%

Value $12.8M Shares 1,298,000 Est. Cost — Unrealized —

MSFT MICROSOFT CORP 1.0%

Value $28.97M Shares 77,662 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PSKY	PARAMOUNT SKYDANCE CORP	1,298,000	$12.8M	0.4%	—	—	COM CL B	69932A204
MSFT	MICROSOFT CORP	77,662	$28.97M	1.0%	—	—	COM	594918104