Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DPC	DPC HOLDINGS PLC	5,022,738	$246M	9.0%	$49.06	—	ORDINARY SHARES	G2R11M108
QQQ	INVESCO QQQ TR	213,500	$157M	5.7%	$736.40	—	PUT	46090E103
AKAM	AKAMAI TECHNOLOGIES INC	640,000	$75.65M	2.8%	$118.21	—	COM	00971T101
FLEX	FLEX LTD	413,438	$67.01M	2.4%	$162.07	—	ORD	Y2573F102
TMO	THERMO FISHER SCIENTIFIC INC	100,000	$50.14M	1.8%	$501.36	—	COM	883556102
COF	CAPITAL ONE FINL CORP	233,129	$46.77M	1.7%	$200.62	—	COM	14040H105
DKS	DICKS SPORTING GOODS INC	200,000	$45.36M	1.7%	$226.81	—	COM	253393102
PRMB	PRIMO BRANDS CORPORATION	1,607,935	$39.3M	1.4%	$24.44	—	CLASS A COM SHS	741623102
ESI	ELEMENT SOLUTIONS INC	725,000	$34.62M	1.3%	$47.75	—	COM	28618M106
CSTM	CONSTELLIUM SE	1,083,489	$34.53M	1.3%	$31.87	—	CL A SHS	F21107101
MKSI	MKS INC.	65,000	$28.91M	1.1%	$444.80	—	COM	55306N104
TH	TARGET HOSPITALITY CORP	1,399,345	$28.49M	1.0%	$20.36	—	COM	87615L107
CLF	CLEVELAND-CLIFFS INC NEW	2,741,569	$25.74M	0.9%	$9.39	—	COM	185899101
VSAT	VIASAT INC	180,000	$16.17M	0.6%	$89.81	—	COM	92552V100
BSX	BOSTON SCIENTIFIC CORP	300,000	$12.8M	0.5%	$42.68	—	COM	101137107
SRRK	SCHOLAR ROCK HLDG CORP	205,000	$11.28M	0.4%	$55.00	—	COM	80706P103
NTRA	NATERA INC	32,500	$8.822M	0.3%	$271.45	—	COM	632307104
ABVX	ABIVAX SA	55,000	$7.329M	0.3%	$133.26	—	SPONSORED ADS	00370M103
AZUL	AZUL S A	505,584	$4.545M	0.2%	$8.99	—	SPONSORED ADS	05501U601

Increased Positions (11)

SPY STATE STR SPDR S&P 500 ETF T ⚠ 6.7%

Value $184M (+9315.6%) Shares 246,000 (+8100.0%) Est. Cost $745.25 Unrealized —

UNH UNITEDHEALTH GROUP INC 2.8%

Value $77.59M (+719.3%) Shares 186,677 (+433.4%) Est. Cost $400.93 Unrealized —

BA BOEING CO ⚠ 5.1%

Value $140M (+59.4%) Shares 646,458 (+46.6%) Est. Cost $230.97 Unrealized —

V VISA INC 4.0%

Value $108M (+40.6%) Shares 315,788 (+23.8%) Est. Cost $331.85 Unrealized —

COP CONOCOPHILLIPS 2.0%

Value $55.96M (+93.6%) Shares 538,290 (+145.8%) Est. Cost $103.43 Unrealized —

CVNA CARVANA CO ⚠ 2.7%

Value $74.89M (+29.0%) Shares 1,137,870 (+516.5%) Est. Cost $90.29 Unrealized —

BKD BROOKDALE SR LIVING INC 1.7%

Value $46.01M (+36.7%) Shares 2,859,263 (+16.3%) Est. Cost $10.71 Unrealized —

AS AMER SPORTS INC 1.9%

Value $50.76M (+18.5%) Shares 1,500,000 (+15.3%) Est. Cost $35.22 Unrealized —

NU NU HLDGS LTD 1.6%

Value $43.09M (+22.4%) Shares 3,225,000 (+31.6%) Est. Cost $13.41 Unrealized —

ALKS ALKERMES PLC 0.5%

Value $14.41M (+73.3%) Shares 275,000 (+17.0%) Est. Cost $35.26 Unrealized —

OPTU OPTIMUM COMMUNICATIONS INC 0.4%

Value $11.6M (+78.5%) Shares 8,000,000 (+60.0%) Est. Cost $1.82 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T ⚠	246,000 (+8100.0%)	$184M (+9315.6%)	6.7%	$745.25	—	PUT	78462F103
UNH	UNITEDHEALTH GROUP INC	186,677 (+433.4%)	$77.59M (+719.3%)	2.8%	$400.93	—	COM	91324P102
BA	BOEING CO ⚠	646,458 (+46.6%)	$140M (+59.4%)	5.1%	$230.97	—	CALL	097023105
V	VISA INC	315,788 (+23.8%)	$108M (+40.6%)	4.0%	$331.85	—	COM CL A	92826C839
COP	CONOCOPHILLIPS	538,290 (+145.8%)	$55.96M (+93.6%)	2.0%	$103.43	—	COM	20825C104
CVNA	CARVANA CO ⚠	1,137,870 (+516.5%)	$74.89M (+29.0%)	2.7%	$90.29	—	CL A	146869102
BKD	BROOKDALE SR LIVING INC	2,859,263 (+16.3%)	$46.01M (+36.7%)	1.7%	$10.71	—	COM	112463104
AS	AMER SPORTS INC	1,500,000 (+15.3%)	$50.76M (+18.5%)	1.9%	$35.22	—	COM SHS	G0260P102
NU	NU HLDGS LTD	3,225,000 (+31.6%)	$43.09M (+22.4%)	1.6%	$13.41	—	ORD SHS CL A	G6683N103
ALKS	ALKERMES PLC	275,000 (+17.0%)	$14.41M (+73.3%)	0.5%	$35.26	—	SHS	G01767105
OPTU	OPTIMUM COMMUNICATIONS INC	8,000,000 (+60.0%)	$11.6M (+78.5%)	0.4%	$1.82	—	CL A	02156K103

Exited Positions (20)

MSFT MICROSOFT CORP 3.6%

Value $99.02M Shares 267,500 Est. Cost $352.95 Unrealized —

VIK VIKING HOLDINGS LTD 1.4%

Value $38.43M Shares 523,000 Est. Cost $64.73 Unrealized —

APO APOLLO GLOBAL MGMT INC 1.4%

Value $37.88M Shares 340,000 Est. Cost $109.70 Unrealized —

C CITIGROUP INC 1.4%

Value $37.42M Shares 330,000 Est. Cost $116.18 Unrealized —

PFE PFIZER INC 1.3%

Value $35.1M Shares 1,250,000 Est. Cost $26.18 Unrealized —

HAL HALLIBURTON CO 1.2%

Value $33.01M Shares 846,693 Est. Cost $33.54 Unrealized —

EEM ISHARES TR 1.2%

Value $32.36M Shares 570,000 Est. Cost $56.77 Unrealized —

AEIS ADVANCED ENERGY INDS 1.2%

Value $32.27M Shares 100,000 Est. Cost $270.51 Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 1.1%

Value $31.06M Shares 90,000 Est. Cost $343.14 Unrealized —

APH AMPHENOL CORP 0.9%

Value $25.27M Shares 200,000 Est. Cost $133.54 Unrealized —

JHX JAMES HARDIE INDS PLC 0.8%

Value $20.96M Shares 1,106,597 Est. Cost $22.00 Unrealized —

RKT ROCKET COS INC 0.7%

Value $17.81M Shares 1,250,000 Est. Cost $20.15 Unrealized —

HAS HASBRO INC 0.6%

Value $16.38M Shares 175,000 Est. Cost $92.67 Unrealized —

CVS CVS HEALTH CORP 0.5%

Value $12.57M Shares 175,000 Est. Cost $77.96 Unrealized —

SATS ECHOSTAR CORP 0.4%

Value $12M Shares 102,500 Est. Cost $116.36 Unrealized —

HOOD ROBINHOOD MKTS INC 0.4%

Value $9.767M Shares 140,937 Est. Cost $21.08 Unrealized —

HWM HOWMET AEROSPACE INC 0.3%

Value $9.584M Shares 41,585 Est. Cost $84.92 Unrealized —

ETHA ISHARES ETHEREUM TR 0.1%

Value $3.847M Shares 243,000 Est. Cost $24.48 Unrealized —

H HYATT HOTELS CORP 0.1%

Value $1.429M Shares 9,939 Est. Cost $132.58 Unrealized —

CELH CELSIUS HLDGS INC 0.0%

Value $1.288M Shares 36,268 Est. Cost $38.52 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	267,500	$99.02M	3.6%	$352.95	—	—	594918104
VIK	VIKING HOLDINGS LTD	523,000	$38.43M	1.4%	$64.73	—	—	G93A5A101
APO	APOLLO GLOBAL MGMT INC	340,000	$37.88M	1.4%	$109.70	—	—	03769M106
C	CITIGROUP INC	330,000	$37.42M	1.4%	$116.18	—	—	172967424
PFE	PFIZER INC	1,250,000	$35.1M	1.3%	$26.18	—	—	717081103
HAL	HALLIBURTON CO	846,693	$33.01M	1.2%	$33.54	—	—	406216101
EEM	ISHARES TR	570,000	$32.36M	1.2%	$56.77	—	—	464287234
AEIS	ADVANCED ENERGY INDS	100,000	$32.27M	1.2%	$270.51	—	—	007973100
LHX	L3HARRIS TECHNOLOGIES INC	90,000	$31.06M	1.1%	$343.14	—	—	502431109
APH	AMPHENOL CORP	200,000	$25.27M	0.9%	$133.54	—	—	032095101
JHX	JAMES HARDIE INDS PLC	1,106,597	$20.96M	0.8%	$22.00	—	—	G4253H101
RKT	ROCKET COS INC	1,250,000	$17.81M	0.7%	$20.15	—	—	77311W101
HAS	HASBRO INC	175,000	$16.38M	0.6%	$92.67	—	—	418056107
CVS	CVS HEALTH CORP	175,000	$12.57M	0.5%	$77.96	—	—	126650100
SATS	ECHOSTAR CORP	102,500	$12M	0.4%	$116.36	—	—	278768106
HOOD	ROBINHOOD MKTS INC	140,937	$9.767M	0.4%	$21.08	—	—	770700102
HWM	HOWMET AEROSPACE INC	41,585	$9.584M	0.3%	$84.92	—	—	443201108
ETHA	ISHARES ETHEREUM TR	243,000	$3.847M	0.1%	$24.48	—	—	46438R105
H	HYATT HOTELS CORP	9,939	$1.429M	0.1%	$132.58	—	—	448579102
CELH	CELSIUS HLDGS INC	36,268	$1.288M	0.0%	$38.52	—	—	15118V207

Decreased Positions (22)

WBD WARNER BROS DISCOVERY INC 0.0%

Value $535K (-99.4%) Shares 20,061 (-99.3%) Est. Cost $9.33 Unrealized —

NVDA NVIDIA CORPORATION 2.5%

Value $67.35M (-53.2%) Shares 336,579 (-59.2%) Est. Cost $151.41 Unrealized —

VRT VERTIV HOLDINGS CO 0.8%

Value $23.02M (-64.7%) Shares 68,746 (-73.6%) Est. Cost $99.98 Unrealized —

AMZN AMAZON COM INC 3.7%

Value $100M (-21.2%) Shares 420,000 (-31.1%) Est. Cost $177.39 Unrealized —

VST VISTRA CORP 0.1%

Value $2.659M (-91.0%) Shares 16,763 (-91.5%) Est. Cost $141.00 Unrealized —

META META PLATFORMS INC 1.9%

Value $51.58M (-32.5%) Shares 91,574 (-31.4%) Est. Cost $468.99 Unrealized —

DHR DANAHER CORP DEL 2.4%

Value $64.93M (-21.0%) Shares 340,881 (-21.3%) Est. Cost $222.67 Unrealized —

RIOT RIOT PLATFORMS INC 0.0%

Value $1.328M (-92.8%) Shares 48,501 (-96.8%) Est. Cost $15.87 Unrealized —

MT ARCELORMITTAL SA LUXEMBOURG 0.1%

Value $2.485M (-86.0%) Shares 41,258 (-87.9%) Est. Cost $45.57 Unrealized —

UAL UNITED AIRLS HLDGS INC 5.3%

Value $146M (+11.1%) Shares 1,075,439 (-24.8%) Est. Cost $72.29 Unrealized —

WWD WOODWARD INC 3.5%

Value $95.12M (+17.3%) Shares 223,591 (-1.3%) Est. Cost $215.63 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 3.7%

Value $101M (+13.4%) Shares 210,658 (-19.7%) Est. Cost $226.05 Unrealized —

SN SHARKNINJA INC 1.7%

Value $47.81M (-18.5%) Shares 314,011 (-43.3%) Est. Cost $116.57 Unrealized —

WRBY WARBY PARKER INC 0.1%

Value $1.517M (-85.6%) Shares 50,000 (-90.0%) Est. Cost $22.61 Unrealized —

ULS UL SOLUTIONS INC 0.9%

Value $25.46M (-25.7%) Shares 250,000 (-37.5%) Est. Cost $70.83 Unrealized —

PRM PERIMETER SOLUTIONS INC 2.3%

Value $63.99M (+10.6%) Shares 1,795,000 (-24.3%) Est. Cost $14.14 Unrealized —

ATI ATI INC 0.6%

Value $15.77M (-25.2%) Shares 80,000 (-44.8%) Est. Cost $54.10 Unrealized —

AVGO BROADCOM INC 2.2%

Value $61.25M (+5.4%) Shares 162,136 (-13.6%) Est. Cost $334.17 Unrealized —

TECK TECK RESOURCES LTD 1.5%

Value $41.96M (+5.5%) Shares 705,673 (-8.2%) Est. Cost $36.34 Unrealized —

ATRO ASTRONICS CORP 0.0%

Value $545K (-62.1%) Shares 6,702 (-68.9%) Est. Cost $18.79 Unrealized —

GOOG ALPHABET INC 0.1%

Value $3.533M (-1.5%) Shares 10,000 (-20.0%) Est. Cost $291.56 Unrealized —

GLXY GALAXY DIGITAL INC. 0.1%

Value $2.638M (-0.5%) Shares 96,491 (-32.8%) Est. Cost $20.30 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WBD	WARNER BROS DISCOVERY INC	20,061 (-99.3%)	$535K (-99.4%)	0.0%	$9.33	—	COM SER A	934423104
NVDA	NVIDIA CORPORATION	336,579 (-59.2%)	$67.35M (-53.2%)	2.5%	$151.41	—	COM	67066G104
VRT	VERTIV HOLDINGS CO	68,746 (-73.6%)	$23.02M (-64.7%)	0.8%	$99.98	—	COM CL A	92537N108
AMZN	AMAZON COM INC	420,000 (-31.1%)	$100M (-21.2%)	3.7%	$177.39	—	COM	023135106
VST	VISTRA CORP	16,763 (-91.5%)	$2.659M (-91.0%)	0.1%	$141.00	—	COM	92840M102
META	META PLATFORMS INC	91,574 (-31.4%)	$51.58M (-32.5%)	1.9%	$468.99	—	CL A	30303M102
DHR	DANAHER CORP DEL	340,881 (-21.3%)	$64.93M (-21.0%)	2.4%	$222.67	—	COM	235851102
RIOT	RIOT PLATFORMS INC	48,501 (-96.8%)	$1.328M (-92.8%)	0.0%	$15.87	—	COM	767292105
MT	ARCELORMITTAL SA LUXEMBOURG	41,258 (-87.9%)	$2.485M (-86.0%)	0.1%	$45.57	—	NY REGISTRY SH	03938L203
UAL	UNITED AIRLS HLDGS INC	1,075,439 (-24.8%)	$146M (+11.1%)	5.3%	$72.29	—	COM	910047109
WWD	WOODWARD INC	223,591 (-1.3%)	$95.12M (+17.3%)	3.5%	$215.63	—	COM	980745103
TSM	TAIWAN SEMICONDUCTOR MANUFAC	210,658 (-19.7%)	$101M (+13.4%)	3.7%	$226.05	—	SPONSORED ADS	874039100
SN	SHARKNINJA INC	314,011 (-43.3%)	$47.81M (-18.5%)	1.7%	$116.57	—	COM SHS	G8068L108
WRBY	WARBY PARKER INC	50,000 (-90.0%)	$1.517M (-85.6%)	0.1%	$22.61	—	CL A COM	93403J106
ULS	UL SOLUTIONS INC	250,000 (-37.5%)	$25.46M (-25.7%)	0.9%	$70.83	—	CLASS A COM SHS	903731107
PRM	PERIMETER SOLUTIONS INC	1,795,000 (-24.3%)	$63.99M (+10.6%)	2.3%	$14.14	—	COMMON STOCK	71385M107
ATI	ATI INC	80,000 (-44.8%)	$15.77M (-25.2%)	0.6%	$54.10	—	COM	01741R102
AVGO	BROADCOM INC	162,136 (-13.6%)	$61.25M (+5.4%)	2.2%	$334.17	—	COM	11135F101
TECK	TECK RESOURCES LTD	705,673 (-8.2%)	$41.96M (+5.5%)	1.5%	$36.34	—	CL B	878742204
ATRO	ASTRONICS CORP	6,702 (-68.9%)	$545K (-62.1%)	0.0%	$18.79	—	COM	046433108
GOOG	ALPHABET INC	10,000 (-20.0%)	$3.533M (-1.5%)	0.1%	$291.56	—	CAP STK CL C	02079K107
GLXY	GALAXY DIGITAL INC.	96,491 (-32.8%)	$2.638M (-0.5%)	0.1%	$20.30	—	CL A	36317J209

Unchanged Positions (6)

AMAT APPLIED MATLS INC 1.7%

Value $46.99M Shares 65,000 Est. Cost $326.57 Unrealized —

GLD SPDR GOLD TR 0.4%

Value $11.05M Shares 30,000 Est. Cost $282.38 Unrealized —

WULF TERAWULF INC 0.1%

Value $3.435M Shares 139,071 Est. Cost $13.86 Unrealized —

GGR GOGORO INC 0.2%

Value $5.38M Shares 1,350,000 Est. Cost $4.03 Unrealized —

BCS BARCLAYS PLC 0.1%

Value $1.806M Shares 67,232 Est. Cost $14.68 Unrealized —

KNTK KINETIK HOLDINGS INC 0.1%

Value $3.65M Shares 75,500 Est. Cost $40.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMAT	APPLIED MATLS INC	65,000	$46.99M	1.7%	$326.57	—	COM	038222105
GLD	SPDR GOLD TR	30,000	$11.05M	0.4%	$282.38	—	GOLD SHS	78463V107
WULF	TERAWULF INC	139,071	$3.435M	0.1%	$13.86	—	COM	88080T104
GGR	GOGORO INC	1,350,000	$5.38M	0.2%	$4.03	—	*W EXP 04/04/202	G9491K139
BCS	BARCLAYS PLC	67,232	$1.806M	0.1%	$14.68	—	ADR	06738E204
KNTK	KINETIK HOLDINGS INC	75,500	$3.65M	0.1%	$40.27	—	COM NEW CL A	02215L209