Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	709,300	$169M	0.8%	—	—	CALL	023135106
ECL	ECOLAB INC	276,003	$76.9M	0.4%	—	—	COM	278865100
LTH	LIFE TIME GROUP HOLDINGS INC	1,729,280	$70.62M	0.3%	—	—	COMMON STOCK	53190C102
MKC	MCCORMICK & CO INC	735,626	$37.09M	0.2%	—	—	COM NON VTG	579780206
POOL	POOL CORP	159,803	$34.34M	0.2%	—	—	COM	73278L105
SOLS	SOLSTICE ADVANCED MATLS INC	384,351	$34.05M	0.2%	—	—	COM SHS	83443Q103
CDNL	CARDINAL INFRASTRUCTURE GROU	174,683	$16.46M	0.1%	—	—	CL A	14154A102
ALLE	ALLEGION PLC	97,198	$13.66M	0.1%	—	—	ORD SHS	G0176J109
OCTV	OCTAVE INTELLIGENCE PLC	784,917	$12.79M	0.1%	—	—	ORD SHS CL B	G22845104
FAF	FIRST AMERN FINL CORP	168,238	$11.54M	0.1%	—	—	COM	31847R102
HONA	HONEYWELL AEROSPACE INC	48,763	$10.78M	0.1%	—	—	COM	43849R105
NPO	ENPRO INC	27,863	$10.5M	0.1%	—	—	COM	29355X107
ARXS	ARXIS INC	216,695	$9.998M	0.0%	—	—	CL A COM	04339D105
NOVT	NOVANTA INC	60,724	$9.852M	0.0%	—	—	COM	67000B104
MHK	MOHAWK INDS INC	74,123	$8.993M	0.0%	—	—	COM	608190104
AROC	ARCHROCK INC	184,340	$7.504M	0.0%	—	—	COM	03957W106
DPC	DPC HOLDINGS PLC	75,000	$3.679M	0.0%	—	—	ORDINARY SHARES	G2R11M108
ROP	ROPER TECHNOLOGIES INC	8,109	$2.744M	0.0%	—	—	COM	776696106

Increased Positions (74)

IWM ISHARES TR 2.7%

Value $541M (+505.7%) Shares 1,800,000 (+400.0%) Est. Cost — Unrealized —

TDG TRANSDIGM GROUP INC 2.3%

Value $471M (+746.8%) Shares 353,230 (+636.8%) Est. Cost — Unrealized —

ENTG ENTEGRIS INC 2.2%

Value $449M (+274.8%) Shares 2,493,913 (+144.3%) Est. Cost — Unrealized —

HUBB HUBBELL INC 2.2%

Value $437M (+137.9%) Shares 835,260 (+123.1%) Est. Cost — Unrealized —

BWXT BWX TECHNOLOGIES INC 1.6%

Value $332M (+123.3%) Shares 1,704,008 (+134.6%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 1.1%

Value $222M (+227.0%) Shares 932,301 (+185.8%) Est. Cost — Unrealized —

INTC INTEL CORP 1.0%

Value $210M (+230.4%) Shares 1,503,056 (+4.4%) Est. Cost — Unrealized —

V VISA INC 1.8%

Value $356M (+54.2%) Shares 1,037,159 (+35.8%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 1.4%

Value $280M (+77.4%) Shares 1,396,937 (+54.6%) Est. Cost — Unrealized —

WDAY WORKDAY INC 0.8%

Value $163M (+92.2%) Shares 1,331,948 (+104.0%) Est. Cost — Unrealized —

VRSK VERISK ANALYTICS INC 0.8%

Value $158M (+97.8%) Shares 879,881 (+109.1%) Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 1.2%

Value $246M (+38.9%) Shares 536,831 (+46.7%) Est. Cost — Unrealized —

APH AMPHENOL CORP 1.1%

Value $220M (+45.4%) Shares 1,249,958 (+4.2%) Est. Cost — Unrealized —

SPGI S&P GLOBAL INC 0.5%

Value $99.61M (+121.9%) Shares 244,596 (+131.7%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 0.6%

Value $129M (+66.0%) Shares 345,152 (+64.7%) Est. Cost — Unrealized —

PKG PACKAGING CORP AMER 1.3%

Value $267M (+23.0%) Shares 1,120,539 (+9.5%) Est. Cost — Unrealized —

GOOG ALPHABET INC 0.5%

Value $98.59M (+87.4%) Shares 279,019 (+52.1%) Est. Cost — Unrealized —

FWONK LIBERTY MEDIA CORP DEL 0.8%

Value $152M (+41.6%) Shares 1,598,060 (+26.6%) Est. Cost — Unrealized —

A AGILENT TECHNOLOGIES INC 0.3%

Value $68.42M (+186.8%) Shares 515,094 (+146.1%) Est. Cost — Unrealized —

CHEF CHEFS WHSE INC 0.4%

Value $73.56M (+124.3%) Shares 765,435 (+38.7%) Est. Cost — Unrealized —

CRM SALESFORCE INC 0.6%

Value $130M (+38.6%) Shares 828,563 (+65.1%) Est. Cost — Unrealized —

AVGO BROADCOM INC 0.5%

Value $97.14M (+55.8%) Shares 257,148 (+27.6%) Est. Cost — Unrealized —

APO APOLLO GLOBAL MGMT INC 0.7%

Value $137M (+34.1%) Shares 1,154,448 (+26.3%) Est. Cost — Unrealized —

ESE ESCO TECHNOLOGIES INC 0.2%

Value $47.97M (+260.8%) Shares 137,044 (+190.0%) Est. Cost — Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.9%

Value $177M (+20.1%) Shares 352,700 (+17.8%) Est. Cost — Unrealized —

ALC ALCON AG 1.9%

Value $390M (-6.8%) Shares 5,766,342 (+1.6%) Est. Cost — Unrealized —

NDAQ NASDAQ INC 2.2%

Value $445M (-5.8%) Shares 5,646,320 (+1.5%) Est. Cost — Unrealized —

CWST CASELLA WASTE SYS INC 0.3%

Value $54.6M (+75.6%) Shares 563,031 (+43.6%) Est. Cost — Unrealized —

LIND LINDBLAD EXPEDITIONS HLDGS I 0.2%

Value $41.03M (+124.1%) Shares 1,452,792 (+37.3%) Est. Cost — Unrealized —

OSW ONESPAWORLD HOLDINGS LIMITED 0.3%

Value $60.84M (+59.3%) Shares 2,154,478 (+29.5%) Est. Cost — Unrealized —

FORM FORMFACTOR INC 0.2%

Value $45.69M (+83.0%) Shares 285,686 (+11.0%) Est. Cost — Unrealized —

FPS FORGENT POWER SOLUTIONS INC 0.2%

Value $30.4M (+182.0%) Shares 544,263 (+47.8%) Est. Cost — Unrealized —

CSW CSW INDUSTRIALS INC 0.2%

Value $47.76M (+61.5%) Shares 171,599 (+51.3%) Est. Cost — Unrealized —

MYRG MYR GROUP INC 0.2%

Value $32.31M (+123.7%) Shares 64,563 (+26.2%) Est. Cost — Unrealized —

QXO QXO INC 0.3%

Value $66.71M (+32.3%) Shares 3,860,354 (+48.6%) Est. Cost — Unrealized —

TFX TELEFLEX INCORPORATED 0.1%

Value $17.34M (+1014.4%) Shares 136,796 (+951.5%) Est. Cost — Unrealized —

LOAR LOAR HOLDINGS INC 0.1%

Value $27.41M (+134.9%) Shares 339,976 (+67.0%) Est. Cost — Unrealized —

BMI BADGER METER INC 0.1%

Value $29.57M (+111.4%) Shares 199,278 (+117.0%) Est. Cost — Unrealized —

ECG EVERUS CONSTR GROUP 0.1%

Value $27.92M (+107.6%) Shares 168,221 (+47.7%) Est. Cost — Unrealized —

MRCY MERCURY SYS INC 0.1%

Value $20.22M (+232.2%) Shares 165,257 (+98.0%) Est. Cost — Unrealized —

ADEA ADEIA INC 0.1%

Value $26.45M (+114.4%) Shares 803,196 (+56.4%) Est. Cost — Unrealized —

ZWS ZURN ELKAY WATER SOLNS CORP 0.2%

Value $33.01M (+71.5%) Shares 653,188 (+52.2%) Est. Cost — Unrealized —

ACA ARCOSA INC 0.1%

Value $29.27M (+88.4%) Shares 201,450 (+37.6%) Est. Cost — Unrealized —

FELE FRANKLIN ELEC INC 0.2%

Value $32.44M (+66.6%) Shares 302,669 (+43.3%) Est. Cost — Unrealized —

NP NEPTUNE INS HLDGS INC 0.1%

Value $18.55M (+196.4%) Shares 588,809 (+127.6%) Est. Cost — Unrealized —

DSGX DESCARTES SYS GROUP INC 0.4%

Value $89.39M (+15.9%) Shares 1,290,947 (+19.5%) Est. Cost — Unrealized —

ALH ALLIANCE LAUNDRY HLDGS INC 0.1%

Value $23.82M (+102.8%) Shares 898,085 (+58.6%) Est. Cost — Unrealized —

ALKT ALKAMI TECHNOLOGY INC 0.1%

Value $26.27M (+70.4%) Shares 1,450,006 (+47.4%) Est. Cost — Unrealized —

CDRE CADRE HLDGS INC 0.2%

Value $33.7M (+46.7%) Shares 1,181,921 (+57.9%) Est. Cost — Unrealized —

GFS GLOBALFOUNDRIES INC 0.1%

Value $19.1M (+123.7%) Shares 231,783 (+20.7%) Est. Cost — Unrealized —

BOOT BOOT BARN HLDGS INC 0.1%

Value $23.74M (+75.7%) Shares 144,492 (+56.5%) Est. Cost — Unrealized —

OUT OUTFRONT MEDIA INC 0.1%

Value $22.31M (+82.7%) Shares 680,906 (+47.8%) Est. Cost — Unrealized —

COHR COHERENT CORP 0.1%

Value $10.81M (+600.0%) Shares 27,408 (+322.7%) Est. Cost — Unrealized —

MIR MIRION TECHNOLOGIES INC 0.1%

Value $28.26M (+44.0%) Shares 1,576,023 (+49.3%) Est. Cost — Unrealized —

WINA WINMARK CORP 0.1%

Value $21.55M (+65.7%) Shares 50,929 (+67.5%) Est. Cost — Unrealized —

LMAT LEMAITRE VASCULAR INC 0.1%

Value $17.37M (+58.4%) Shares 181,015 (+80.2%) Est. Cost — Unrealized —

KAI KADANT INC 0.2%

Value $31.91M (+23.2%) Shares 101,551 (+14.6%) Est. Cost — Unrealized —

BLDR BUILDERS FIRSTSOURCE INC 0.1%

Value $12.88M (+82.5%) Shares 143,900 (+67.9%) Est. Cost — Unrealized —

SHOP SHOPIFY INC 0.2%

Value $33.32M (+19.2%) Shares 291,826 (+23.8%) Est. Cost — Unrealized —

CLBT CELLEBRITE DI LTD 0.1%

Value $16.15M (+45.7%) Shares 1,105,877 (+37.5%) Est. Cost — Unrealized —

CARG CARGURUS INC 0.1%

Value $20.67M (+32.2%) Shares 606,281 (+32.0%) Est. Cost — Unrealized —

LQDT LIQUIDITY SVCS INC 0.1%

Value $18.97M (+34.2%) Shares 484,791 (+4.9%) Est. Cost — Unrealized —

ALRM ALARM COM HLDGS INC 0.1%

Value $21.59M (+27.4%) Shares 462,015 (+17.8%) Est. Cost — Unrealized —

NKE NIKE INC 0.1%

Value $19.52M (-17.9%) Shares 475,410 (+5.7%) Est. Cost — Unrealized —

JOE ST JOE CO 0.4%

Value $83.99M (+4.9%) Shares 1,341,063 (+5.2%) Est. Cost — Unrealized —

KRMN KARMAN HLDGS INC 0.0%

Value $6.417M (+120.8%) Shares 128,543 (+254.1%) Est. Cost — Unrealized —

DHR DANAHER CORP DEL 0.3%

Value $50.89M (+6.7%) Shares 267,153 (+6.2%) Est. Cost — Unrealized —

UBER UBER TECHNOLOGIES INC 0.1%

Value $11.41M (+37.6%) Shares 158,066 (+37.1%) Est. Cost — Unrealized —

MSCI MSCI INC 0.1%

Value $23.55M (+11.3%) Shares 42,048 (+7.1%) Est. Cost — Unrealized —

MCO MOODYS CORP 0.1%

Value $23.58M (+9.1%) Shares 52,073 (+5.1%) Est. Cost — Unrealized —

WAY WAYSTAR HLDG CORP 0.1%

Value $20.6M (-7.5%) Shares 1,003,417 (+8.7%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.1%

Value $17.64M (+7.1%) Shares 31,322 (+8.7%) Est. Cost — Unrealized —

RBLX ROBLOX CORP 0.0%

Value $11,202 (+1424.1%) Shares 206 (+1484.6%) Est. Cost — Unrealized —

GOOGL ALPHABET INC 0.0%

Value $12,865 (+72.1%) Shares 36 (+38.5%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	1,800,000 (+400.0%)	$541M (+505.7%)	2.7%	—	—	PUT	464287655
TDG	TRANSDIGM GROUP INC	353,230 (+636.8%)	$471M (+746.8%)	2.3%	—	—	COM	893641100
ENTG	ENTEGRIS INC	2,493,913 (+144.3%)	$449M (+274.8%)	2.2%	—	—	COM	29362U104
HUBB	HUBBELL INC	835,260 (+123.1%)	$437M (+137.9%)	2.2%	—	—	COM	443510607
BWXT	BWX TECHNOLOGIES INC	1,704,008 (+134.6%)	$332M (+123.3%)	1.6%	—	—	COM	05605H100
AMZN	AMAZON COM INC	932,301 (+185.8%)	$222M (+227.0%)	1.1%	—	—	COM	023135106
INTC	INTEL CORP	1,503,056 (+4.4%)	$210M (+230.4%)	1.0%	—	—	COM	458140100
V	VISA INC	1,037,159 (+35.8%)	$356M (+54.2%)	1.8%	—	—	COM CL A	92826C839
NVDA	NVIDIA CORPORATION	1,396,937 (+54.6%)	$280M (+77.4%)	1.4%	—	—	COM	67066G104
WDAY	WORKDAY INC	1,331,948 (+104.0%)	$163M (+92.2%)	0.8%	—	—	CL A	98138H101
VRSK	VERISK ANALYTICS INC	879,881 (+109.1%)	$158M (+97.8%)	0.8%	—	—	COM	92345Y106
SPOT	SPOTIFY TECHNOLOGY S A	536,831 (+46.7%)	$246M (+38.9%)	1.2%	—	—	SHS	L8681T102
APH	AMPHENOL CORP	1,249,958 (+4.2%)	$220M (+45.4%)	1.1%	—	—	CL A	032095101
SPGI	S&P GLOBAL INC	244,596 (+131.7%)	$99.61M (+121.9%)	0.5%	—	—	COM	78409V104
MSFT	MICROSOFT CORP	345,152 (+64.7%)	$129M (+66.0%)	0.6%	—	—	COM	594918104
PKG	PACKAGING CORP AMER	1,120,539 (+9.5%)	$267M (+23.0%)	1.3%	—	—	COM	695156109
GOOG	ALPHABET INC	279,019 (+52.1%)	$98.59M (+87.4%)	0.5%	—	—	CAP STK CL C	02079K107
FWONK	LIBERTY MEDIA CORP DEL	1,598,060 (+26.6%)	$152M (+41.6%)	0.8%	—	—	COM LBTY ONE S C	531229755
A	AGILENT TECHNOLOGIES INC	515,094 (+146.1%)	$68.42M (+186.8%)	0.3%	—	—	COM	00846U101
CHEF	CHEFS WHSE INC	765,435 (+38.7%)	$73.56M (+124.3%)	0.4%	—	—	COM	163086101
CRM	SALESFORCE INC	828,563 (+65.1%)	$130M (+38.6%)	0.6%	—	—	COM	79466L302
AVGO	BROADCOM INC	257,148 (+27.6%)	$97.14M (+55.8%)	0.5%	—	—	COM	11135F101
APO	APOLLO GLOBAL MGMT INC	1,154,448 (+26.3%)	$137M (+34.1%)	0.7%	—	—	COM	03769M106
ESE	ESCO TECHNOLOGIES INC	137,044 (+190.0%)	$47.97M (+260.8%)	0.2%	—	—	COM	296315104
TMO	THERMO FISHER SCIENTIFIC INC	352,700 (+17.8%)	$177M (+20.1%)	0.9%	—	—	COM	883556102
ALC	ALCON AG	5,766,342 (+1.6%)	$390M (-6.8%)	1.9%	—	—	ORD SHS	H01301128
NDAQ	NASDAQ INC	5,646,320 (+1.5%)	$445M (-5.8%)	2.2%	—	—	COM	631103108
CWST	CASELLA WASTE SYS INC	563,031 (+43.6%)	$54.6M (+75.6%)	0.3%	—	—	CL A	147448104
LIND	LINDBLAD EXPEDITIONS HLDGS I	1,452,792 (+37.3%)	$41.03M (+124.1%)	0.2%	—	—	COM	535219109
OSW	ONESPAWORLD HOLDINGS LIMITED	2,154,478 (+29.5%)	$60.84M (+59.3%)	0.3%	—	—	COM	P73684113
FORM	FORMFACTOR INC	285,686 (+11.0%)	$45.69M (+83.0%)	0.2%	—	—	COM	346375108
FPS	FORGENT POWER SOLUTIONS INC	544,263 (+47.8%)	$30.4M (+182.0%)	0.2%	—	—	COM SHS CL A	34631F102
CSW	CSW INDUSTRIALS INC	171,599 (+51.3%)	$47.76M (+61.5%)	0.2%	—	—	COM	126402106
MYRG	MYR GROUP INC	64,563 (+26.2%)	$32.31M (+123.7%)	0.2%	—	—	COM	55405W104
QXO	QXO INC	3,860,354 (+48.6%)	$66.71M (+32.3%)	0.3%	—	—	COM NEW	82846H405
TFX	TELEFLEX INCORPORATED	136,796 (+951.5%)	$17.34M (+1014.4%)	0.1%	—	—	COM	879369106
LOAR	LOAR HOLDINGS INC	339,976 (+67.0%)	$27.41M (+134.9%)	0.1%	—	—	COM SHS	53947R105
BMI	BADGER METER INC	199,278 (+117.0%)	$29.57M (+111.4%)	0.1%	—	—	COM	056525108
ECG	EVERUS CONSTR GROUP	168,221 (+47.7%)	$27.92M (+107.6%)	0.1%	—	—	COM	300426103
MRCY	MERCURY SYS INC	165,257 (+98.0%)	$20.22M (+232.2%)	0.1%	—	—	COM	589378108
ADEA	ADEIA INC	803,196 (+56.4%)	$26.45M (+114.4%)	0.1%	—	—	COM	00676P107
ZWS	ZURN ELKAY WATER SOLNS CORP	653,188 (+52.2%)	$33.01M (+71.5%)	0.2%	—	—	COM	98983L108
ACA	ARCOSA INC	201,450 (+37.6%)	$29.27M (+88.4%)	0.1%	—	—	COM	039653100
FELE	FRANKLIN ELEC INC	302,669 (+43.3%)	$32.44M (+66.6%)	0.2%	—	—	COM	353514102
NP	NEPTUNE INS HLDGS INC	588,809 (+127.6%)	$18.55M (+196.4%)	0.1%	—	—	CL A	64073B103
DSGX	DESCARTES SYS GROUP INC	1,290,947 (+19.5%)	$89.39M (+15.9%)	0.4%	—	—	COM	249906108
ALH	ALLIANCE LAUNDRY HLDGS INC	898,085 (+58.6%)	$23.82M (+102.8%)	0.1%	—	—	COM	01862Q107
ALKT	ALKAMI TECHNOLOGY INC	1,450,006 (+47.4%)	$26.27M (+70.4%)	0.1%	—	—	COM	01644J108
CDRE	CADRE HLDGS INC	1,181,921 (+57.9%)	$33.7M (+46.7%)	0.2%	—	—	COM	12763L105
GFS	GLOBALFOUNDRIES INC	231,783 (+20.7%)	$19.1M (+123.7%)	0.1%	—	—	ORDINARY SHARES	G39387108
BOOT	BOOT BARN HLDGS INC	144,492 (+56.5%)	$23.74M (+75.7%)	0.1%	—	—	COM	099406100
OUT	OUTFRONT MEDIA INC	680,906 (+47.8%)	$22.31M (+82.7%)	0.1%	—	—	COM NEW	69007J304
COHR	COHERENT CORP	27,408 (+322.7%)	$10.81M (+600.0%)	0.1%	—	—	COM	19247G107
MIR	MIRION TECHNOLOGIES INC	1,576,023 (+49.3%)	$28.26M (+44.0%)	0.1%	—	—	COM CL A	60471A101
WINA	WINMARK CORP	50,929 (+67.5%)	$21.55M (+65.7%)	0.1%	—	—	COM	974250102
LMAT	LEMAITRE VASCULAR INC	181,015 (+80.2%)	$17.37M (+58.4%)	0.1%	—	—	COM	525558201
KAI	KADANT INC	101,551 (+14.6%)	$31.91M (+23.2%)	0.2%	—	—	COM	48282T104
BLDR	BUILDERS FIRSTSOURCE INC	143,900 (+67.9%)	$12.88M (+82.5%)	0.1%	—	—	CALL	12008R107
SHOP	SHOPIFY INC	291,826 (+23.8%)	$33.32M (+19.2%)	0.2%	—	—	CL A SUB VTG SHS	82509L107
CLBT	CELLEBRITE DI LTD	1,105,877 (+37.5%)	$16.15M (+45.7%)	0.1%	—	—	ORDINARY SHARES	M2197Q107
CARG	CARGURUS INC	606,281 (+32.0%)	$20.67M (+32.2%)	0.1%	—	—	COM CL A	141788109
LQDT	LIQUIDITY SVCS INC	484,791 (+4.9%)	$18.97M (+34.2%)	0.1%	—	—	COM	53635B107
ALRM	ALARM COM HLDGS INC	462,015 (+17.8%)	$21.59M (+27.4%)	0.1%	—	—	COM	011642105
NKE	NIKE INC	475,410 (+5.7%)	$19.52M (-17.9%)	0.1%	—	—	CL B	654106103
JOE	ST JOE CO	1,341,063 (+5.2%)	$83.99M (+4.9%)	0.4%	—	—	COM	790148100
KRMN	KARMAN HLDGS INC	128,543 (+254.1%)	$6.417M (+120.8%)	0.0%	—	—	COMMON STOCK	485924104
DHR	DANAHER CORP DEL	267,153 (+6.2%)	$50.89M (+6.7%)	0.3%	—	—	COM	235851102
UBER	UBER TECHNOLOGIES INC	158,066 (+37.1%)	$11.41M (+37.6%)	0.1%	—	—	COM	90353T100
MSCI	MSCI INC	42,048 (+7.1%)	$23.55M (+11.3%)	0.1%	—	—	COM	55354G100
MCO	MOODYS CORP	52,073 (+5.1%)	$23.58M (+9.1%)	0.1%	—	—	COM	615369105
WAY	WAYSTAR HLDG CORP	1,003,417 (+8.7%)	$20.6M (-7.5%)	0.1%	—	—	COM	946784105
META	META PLATFORMS INC	31,322 (+8.7%)	$17.64M (+7.1%)	0.1%	—	—	CL A	30303M102
RBLX	ROBLOX CORP	206 (+1484.6%)	$11,202 (+1424.1%)	0.0%	—	—	CL A	771049103
GOOGL	ALPHABET INC	36 (+38.5%)	$12,865 (+72.1%)	0.0%	—	—	CAP STK CL A	02079K305

Exited Positions (40)

PWR QUANTA SVCS INC 0.7%

Value $145M Shares 263,823 Est. Cost — Unrealized —

MORN MORNINGSTAR INC 0.5%

Value $108M Shares 637,723 Est. Cost — Unrealized —

GRMN GARMIN LTD 0.4%

Value $83.9M Shares 361,610 Est. Cost — Unrealized —

INTU INTUIT 0.3%

Value $60.82M Shares 140,671 Est. Cost — Unrealized —

HOOD ROBINHOOD MKTS INC 0.2%

Value $44.42M Shares 641,000 Est. Cost — Unrealized —

TECH BIO-TECHNE CORP 0.2%

Value $37.1M Shares 709,827 Est. Cost — Unrealized —

NEM NEWMONT CORP 0.2%

Value $31.54M Shares 291,400 Est. Cost — Unrealized —

CRM SALESFORCE INC 0.1%

Value $27.98M Shares 149,900 Est. Cost — Unrealized —

CTAS CINTAS CORP 0.1%

Value $26.63M Shares 157,461 Est. Cost — Unrealized —

IRDM IRIDIUM COMMUNICATIONS INC 0.1%

Value $26.15M Shares 942,519 Est. Cost — Unrealized —

NOW SERVICENOW INC 0.1%

Value $23.57M Shares 225,422 Est. Cost — Unrealized —

WTM WHITE MTNS INS GROUP LTD 0.1%

Value $23.2M Shares 10,560 Est. Cost — Unrealized —

SSD SIMPSON MFG INC 0.1%

Value $21.02M Shares 122,468 Est. Cost — Unrealized —

MLAB MESA LABS INC 0.1%

Value $20.86M Shares 235,885 Est. Cost — Unrealized —

CINF CINCINNATI FINL CORP 0.1%

Value $19.81M Shares 125,875 Est. Cost — Unrealized —

VRRM VERRA MOBILITY CORP 0.1%

Value $13.59M Shares 951,159 Est. Cost — Unrealized —

BIO BIO RAD LABS INC 0.1%

Value $13.5M Shares 48,436 Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.1%

Value $13.11M Shares 325,100 Est. Cost — Unrealized —

GFL GFL ENVIRONMENTAL INC 0.1%

Value $11.29M Shares 270,689 Est. Cost — Unrealized —

IDXX IDEXX LABS INC 0.0%

Value $9.623M Shares 17,126 Est. Cost — Unrealized —

CNH CNH INDL N V 0.0%

Value $8.658M Shares 787,075 Est. Cost — Unrealized —

ENTG ENTEGRIS INC 0.0%

Value $7.351M Shares 62,700 Est. Cost — Unrealized —

CASY CASEYS GEN STORES INC 0.0%

Value $5.063M Shares 6,956 Est. Cost — Unrealized —

BL BLACKLINE INC 0.0%

Value $4.153M Shares 112,252 Est. Cost — Unrealized —

ERII ENERGY RECOVERY INC 0.0%

Value $3.97M Shares 394,208 Est. Cost — Unrealized —

CERT CERTARA INC 0.0%

Value $3.499M Shares 613,935 Est. Cost — Unrealized —

LLY ELI LILLY & CO 0.0%

Value $3.035M Shares 3,300 Est. Cost — Unrealized —

MSTR STRATEGY INC 0.0%

Value $2.908M Shares 23,300 Est. Cost — Unrealized —

SAP SAP SE 0.0%

Value $2.635M Shares 15,393 Est. Cost — Unrealized —

KKR KKR & CO INC 0.0%

Value $2.459M Shares 26,588 Est. Cost — Unrealized —

SPSC SPS COMM INC 0.0%

Value $2.334M Shares 41,923 Est. Cost — Unrealized —

CRDO CREDO TECHNOLOGY GROUP HOLDI 0.0%

Value $1.875M Shares 19,970 Est. Cost — Unrealized —

QCOM QUALCOMM INC 0.0%

Value $1.716M Shares 13,325 Est. Cost — Unrealized —

VEEV VEEVA SYS INC 0.0%

Value $1.571M Shares 8,943 Est. Cost — Unrealized —

LSCC LATTICE SEMICONDUCTOR CORP 0.0%

Value $1.046M Shares 11,281 Est. Cost — Unrealized —

CIEN CIENA CORP 0.0%

Value $1.013M Shares 2,608 Est. Cost — Unrealized —

SWKS SKYWORKS SOLUTIONS INC 0.0%

Value $822K Shares 15,351 Est. Cost — Unrealized —

IWR ISHARES TR 0.0%

Value $73,214 Shares 753 Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.0%

Value $30,941 Shares 767 Est. Cost — Unrealized —

LLY ELI LILLY & CO 0.0%

Value $12,877 Shares 14 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PWR	QUANTA SVCS INC	263,823	$145M	0.7%	—	—	—	74762E102
MORN	MORNINGSTAR INC	637,723	$108M	0.5%	—	—	—	617700109
GRMN	GARMIN LTD	361,610	$83.9M	0.4%	—	—	—	H2906T109
INTU	INTUIT	140,671	$60.82M	0.3%	—	—	—	461202103
HOOD	ROBINHOOD MKTS INC	641,000	$44.42M	0.2%	—	—	PUT	770700102
TECH	BIO-TECHNE CORP	709,827	$37.1M	0.2%	—	—	—	09073M104
NEM	NEWMONT CORP	291,400	$31.54M	0.2%	—	—	CALL	651639106
CRM	SALESFORCE INC	149,900	$27.98M	0.1%	—	—	PUT	79466L302
CTAS	CINTAS CORP	157,461	$26.63M	0.1%	—	—	—	172908105
IRDM	IRIDIUM COMMUNICATIONS INC	942,519	$26.15M	0.1%	—	—	—	46269C102
NOW	SERVICENOW INC	225,422	$23.57M	0.1%	—	—	—	81762P102
WTM	WHITE MTNS INS GROUP LTD	10,560	$23.2M	0.1%	—	—	—	G9618E107
SSD	SIMPSON MFG INC	122,468	$21.02M	0.1%	—	—	—	829073105
MLAB	MESA LABS INC	235,885	$20.86M	0.1%	—	—	—	59064R109
CINF	CINCINNATI FINL CORP	125,875	$19.81M	0.1%	—	—	—	172062101
VRRM	VERRA MOBILITY CORP	951,159	$13.59M	0.1%	—	—	—	92511U102
BIO	BIO RAD LABS INC	48,436	$13.5M	0.1%	—	—	—	090572207
CSGP	COSTAR GROUP INC	325,100	$13.11M	0.1%	—	—	CALL	22160N109
GFL	GFL ENVIRONMENTAL INC	270,689	$11.29M	0.1%	—	—	—	36168Q104
IDXX	IDEXX LABS INC	17,126	$9.623M	0.0%	—	—	—	45168D104
CNH	CNH INDL N V	787,075	$8.658M	0.0%	—	—	—	N20944109
ENTG	ENTEGRIS INC	62,700	$7.351M	0.0%	—	—	CALL	29362U104
CASY	CASEYS GEN STORES INC	6,956	$5.063M	0.0%	—	—	—	147528103
BL	BLACKLINE INC	112,252	$4.153M	0.0%	—	—	—	09239B109
ERII	ENERGY RECOVERY INC	394,208	$3.97M	0.0%	—	—	—	29270J100
CERT	CERTARA INC	613,935	$3.499M	0.0%	—	—	—	15687V109
LLY	ELI LILLY & CO	3,300	$3.035M	0.0%	—	—	PUT	532457108
MSTR	STRATEGY INC	23,300	$2.908M	0.0%	—	—	PUT	594972408
SAP	SAP SE	15,393	$2.635M	0.0%	—	—	—	803054204
KKR	KKR & CO INC	26,588	$2.459M	0.0%	—	—	—	48251W104
SPSC	SPS COMM INC	41,923	$2.334M	0.0%	—	—	—	78463M107
CRDO	CREDO TECHNOLOGY GROUP HOLDI	19,970	$1.875M	0.0%	—	—	—	G25457105
QCOM	QUALCOMM INC	13,325	$1.716M	0.0%	—	—	—	747525103
VEEV	VEEVA SYS INC	8,943	$1.571M	0.0%	—	—	—	922475108
LSCC	LATTICE SEMICONDUCTOR CORP	11,281	$1.046M	0.0%	—	—	—	518415104
CIEN	CIENA CORP	2,608	$1.013M	0.0%	—	—	—	171779309
SWKS	SKYWORKS SOLUTIONS INC	15,351	$822K	0.0%	—	—	—	83088M102
IWR	ISHARES TR	753	$73,214	0.0%	—	—	—	464287499
CSGP	COSTAR GROUP INC	767	$30,941	0.0%	—	—	—	22160N109
LLY	ELI LILLY & CO	14	$12,877	0.0%	—	—	—	532457108

Decreased Positions (62)

TSCO TRACTOR SUPPLY CO 0.7%

Value $137M (-77.2%) Shares 4,336,775 (-67.4%) Est. Cost — Unrealized —

SCI SERVICE CORP INTL 1.2%

Value $253M (-49.9%) Shares 3,326,683 (-45.6%) Est. Cost — Unrealized —

BRO BROWN & BROWN INC 1.6%

Value $314M (-40.0%) Shares 4,892,500 (-39.0%) Est. Cost — Unrealized —

NET CLOUDFLARE INC 0.0%

Value $9,321 (-100.0%) Shares 38 (-100.0%) Est. Cost — Unrealized —

CHRW C H ROBINSON WORLDWIDE IN 1.1%

Value $216M (-33.8%) Shares 1,145,388 (-41.6%) Est. Cost — Unrealized —

PAYX PAYCHEX INC 1.1%

Value $228M (-32.5%) Shares 2,320,215 (-36.8%) Est. Cost — Unrealized —

CLH CLEAN HARBORS INC 1.1%

Value $218M (-32.9%) Shares 728,374 (-35.6%) Est. Cost — Unrealized —

VIK VIKING HOLDINGS LTD 4.5%

Value $900M (+13.4%) Shares 8,601,393 (-20.4%) Est. Cost — Unrealized —

TRMB TRIMBLE INC 1.3%

Value $260M (-28.9%) Shares 5,080,354 (-9.4%) Est. Cost — Unrealized —

MIDD MIDDLEBY CORP 0.5%

Value $97.81M (-50.8%) Shares 568,621 (-62.1%) Est. Cost — Unrealized —

CDW CDW CORP 0.2%

Value $44.23M (-69.4%) Shares 314,460 (-73.7%) Est. Cost — Unrealized —

BE BLOOM ENERGY CORP 0.8%

Value $156M (+118.3%) Shares 513,800 (-2.3%) Est. Cost — Unrealized —

ONON ON HLDG AG 0.0%

Value $2,267 (-100.0%) Shares 64 (-100.0%) Est. Cost — Unrealized —

WAB WABTEC 3.2%

Value $653M (-10.6%) Shares 2,421,552 (-17.2%) Est. Cost — Unrealized —

CNM CORE & MAIN INC 1.4%

Value $282M (-21.4%) Shares 5,840,259 (-19.5%) Est. Cost — Unrealized —

ROL ROLLINS INC 0.9%

Value $179M (-29.8%) Shares 4,283,955 (-10.1%) Est. Cost — Unrealized —

MKL MARKEL GROUP INC 3.2%

Value $648M (-10.4%) Shares 331,679 (-12.2%) Est. Cost — Unrealized —

STE STERIS PLC 2.0%

Value $399M (-15.8%) Shares 1,894,646 (-11.6%) Est. Cost — Unrealized —

CPAY CORPAY INC 1.2%

Value $239M (-22.8%) Shares 717,626 (-32.6%) Est. Cost — Unrealized —

SIG SIGNET JEWELERS LIMITED 1.0%

Value $210M (-24.2%) Shares 2,436,873 (-25.6%) Est. Cost — Unrealized —

EME EMCOR GROUP INC 1.7%

Value $348M (-15.1%) Shares 419,806 (-24.5%) Est. Cost — Unrealized —

ITT ITT INC 3.4%

Value $686M (-8.1%) Shares 3,466,371 (-11.4%) Est. Cost — Unrealized —

CAE CAE INC 0.9%

Value $176M (-18.0%) Shares 7,018,338 (-14.9%) Est. Cost — Unrealized —

LAMR LAMAR ADVERTISING CO 0.1%

Value $21.89M (-63.3%) Shares 140,364 (-70.2%) Est. Cost — Unrealized —

IRM IRON MTN INC DEL 1.1%

Value $219M (+20.7%) Shares 1,737,300 (-2.4%) Est. Cost — Unrealized —

FBIN FORTUNE BRANDS INNOVATIONS I 0.0%

Value $39,418 (-99.9%) Shares 718 (-99.9%) Est. Cost — Unrealized —

DKS DICKS SPORTING GOODS INC 0.4%

Value $79.69M (-27.8%) Shares 351,353 (-36.9%) Est. Cost — Unrealized —

RBLX ROBLOX CORP 0.0%

Value $7.303M (-80.7%) Shares 134,300 (-79.9%) Est. Cost — Unrealized —

LH LABCORP HOLDINGS INC 2.7%

Value $555M (-4.4%) Shares 1,981,948 (-8.9%) Est. Cost — Unrealized —

MLM MARTIN MARIETTA MATLS INC 2.9%

Value $583M (-4.1%) Shares 1,011,255 (-2.1%) Est. Cost — Unrealized —

TDY TELEDYNE TECHNOLOGIES INC 0.5%

Value $97.79M (-18.8%) Shares 146,635 (-26.3%) Est. Cost — Unrealized —

CR CRANE COMPANY 0.6%

Value $127M (+21.0%) Shares 571,432 (-7.2%) Est. Cost — Unrealized —

BN BROOKFIELD CORP 0.0%

Value $8.824M (-71.5%) Shares 206,886 (-73.0%) Est. Cost — Unrealized —

CRH CRH PLC 2.4%

Value $490M (-4.1%) Shares 4,577,115 (-5.8%) Est. Cost — Unrealized —

NET CLOUDFLARE INC 0.2%

Value $43.27M (-32.5%) Shares 176,400 (-43.2%) Est. Cost — Unrealized —

FTV FORTIVE CORP 0.4%

Value $74.28M (-21.6%) Shares 1,215,882 (-29.0%) Est. Cost — Unrealized —

CRWV COREWEAVE INC 0.3%

Value $68.16M (+26.4%) Shares 684,700 (-1.7%) Est. Cost — Unrealized —

LYV LIVE NATION ENTERTAINMENT IN 4.1%

Value $828M (+1.6%) Shares 4,523,826 (-15.4%) Est. Cost — Unrealized —

USLM UNITED STS LIME & MINERALS I 0.2%

Value $39.83M (-24.8%) Shares 380,570 (-6.2%) Est. Cost — Unrealized —

CP CANADIAN PACIFIC KANSAS CITY 1.9%

Value $377M (-3.1%) Shares 4,346,986 (-12.3%) Est. Cost — Unrealized —

SGI SOMNIGROUP INTERNATIONAL INC 3.4%

Value $697M (+1.7%) Shares 8,892,691 (-4.1%) Est. Cost — Unrealized —

NIQ NIQ GLOBAL INTELLIGENCE PLC 0.1%

Value $16.67M (-38.7%) Shares 1,782,894 (-25.5%) Est. Cost — Unrealized —

GOOG ALPHABET INC 0.3%

Value $60.1M (+20.5%) Shares 170,100 (-2.2%) Est. Cost — Unrealized —

UNP UNION PAC CORP 0.1%

Value $21.52M (-28.7%) Shares 79,100 (-36.4%) Est. Cost — Unrealized —

KEX KIRBY CORP 0.2%

Value $41.35M (-17.2%) Shares 304,102 (-19.1%) Est. Cost — Unrealized —

FBIN FORTUNE BRANDS INNOVATIONS I 0.2%

Value $32.92M (+24.2%) Shares 599,700 (-11.8%) Est. Cost — Unrealized —

APG API GROUP CORP 0.1%

Value $23.75M (-19.5%) Shares 560,842 (-23.0%) Est. Cost — Unrealized —

PTLO PORTILLOS INC 0.0%

Value $664K (-89.1%) Shares 140,035 (-87.9%) Est. Cost — Unrealized —

WSM WILLIAMS SONOMA INC 0.2%

Value $37.72M (-11.2%) Shares 161,830 (-30.6%) Est. Cost — Unrealized —

GE GE AEROSPACE 0.1%

Value $14.04M (+26.0%) Shares 37,562 (-4.3%) Est. Cost — Unrealized —

MTD METTLER TOLEDO INTERNATIONAL 0.1%

Value $10.83M (-15.5%) Shares 8,480 (-16.6%) Est. Cost — Unrealized —

PTON PELOTON INTERACTIVE INC 0.0%

Value $5.899M (-24.0%) Shares 998,069 (-44.8%) Est. Cost — Unrealized —

ARES ARES MANAGEMENT CORPORATION 0.1%

Value $14.33M (-10.7%) Shares 128,741 (-12.5%) Est. Cost — Unrealized —

BIP BROOKFIELD INFRASTRUCTURE PA 0.0%

Value $701K (-69.2%) Shares 19,213 (-69.5%) Est. Cost — Unrealized —

OKLO OKLO INC 0.2%

Value $33.36M (+3.9%) Shares 637,500 (-1.5%) Est. Cost — Unrealized —

VFC V F CORP 0.0%

Value $2.007M (-32.0%) Shares 120,300 (-30.7%) Est. Cost — Unrealized —

TRU TRANSUNION 0.0%

Value $7.969M (-8.7%) Shares 110,466 (-12.4%) Est. Cost — Unrealized —

ONON ON HLDG AG 0.1%

Value $13.74M (+2.0%) Shares 387,900 (-2.0%) Est. Cost — Unrealized —

PII POLARIS INC 0.0%

Value $1.177M (-6.5%) Shares 17,200 (-25.5%) Est. Cost — Unrealized —

PII POLARIS INC 0.0%

Value $10,198 (-39.8%) Shares 149 (-52.1%) Est. Cost — Unrealized —

VFC V F CORP 0.0%

Value $5,421 (-35.9%) Shares 325 (-34.7%) Est. Cost — Unrealized —

BE BLOOM ENERGY CORP 0.0%

Value $3,027 (+24.1%) Shares 10 (-44.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSCO	TRACTOR SUPPLY CO	4,336,775 (-67.4%)	$137M (-77.2%)	0.7%	—	—	COM	892356106
SCI	SERVICE CORP INTL	3,326,683 (-45.6%)	$253M (-49.9%)	1.2%	—	—	COM	817565104
BRO	BROWN & BROWN INC	4,892,500 (-39.0%)	$314M (-40.0%)	1.6%	—	—	COM	115236101
NET	CLOUDFLARE INC	38 (-100.0%)	$9,321 (-100.0%)	0.0%	—	—	CL A COM	18915M107
CHRW	C H ROBINSON WORLDWIDE IN	1,145,388 (-41.6%)	$216M (-33.8%)	1.1%	—	—	COM NEW	12541W209
PAYX	PAYCHEX INC	2,320,215 (-36.8%)	$228M (-32.5%)	1.1%	—	—	COM	704326107
CLH	CLEAN HARBORS INC	728,374 (-35.6%)	$218M (-32.9%)	1.1%	—	—	COM	184496107
VIK	VIKING HOLDINGS LTD	8,601,393 (-20.4%)	$900M (+13.4%)	4.5%	—	—	ORD SHS	G93A5A101
TRMB	TRIMBLE INC	5,080,354 (-9.4%)	$260M (-28.9%)	1.3%	—	—	COM	896239100
MIDD	MIDDLEBY CORP	568,621 (-62.1%)	$97.81M (-50.8%)	0.5%	—	—	COM	596278101
CDW	CDW CORP	314,460 (-73.7%)	$44.23M (-69.4%)	0.2%	—	—	COM	12514G108
BE	BLOOM ENERGY CORP	513,800 (-2.3%)	$156M (+118.3%)	0.8%	—	—	PUT	093712107
ONON	ON HLDG AG	64 (-100.0%)	$2,267 (-100.0%)	0.0%	—	—	NAMEN AKT A	H5919C104
WAB	WABTEC	2,421,552 (-17.2%)	$653M (-10.6%)	3.2%	—	—	COM	929740108
CNM	CORE & MAIN INC	5,840,259 (-19.5%)	$282M (-21.4%)	1.4%	—	—	CL A	21874C102
ROL	ROLLINS INC	4,283,955 (-10.1%)	$179M (-29.8%)	0.9%	—	—	COM	775711104
MKL	MARKEL GROUP INC	331,679 (-12.2%)	$648M (-10.4%)	3.2%	—	—	COM	570535104
STE	STERIS PLC	1,894,646 (-11.6%)	$399M (-15.8%)	2.0%	—	—	SHS USD	G8473T100
CPAY	CORPAY INC	717,626 (-32.6%)	$239M (-22.8%)	1.2%	—	—	COM SHS	219948106
SIG	SIGNET JEWELERS LIMITED	2,436,873 (-25.6%)	$210M (-24.2%)	1.0%	—	—	SHS	G81276100
EME	EMCOR GROUP INC	419,806 (-24.5%)	$348M (-15.1%)	1.7%	—	—	COM	29084Q100
ITT	ITT INC	3,466,371 (-11.4%)	$686M (-8.1%)	3.4%	—	—	COM	45073V108
CAE	CAE INC	7,018,338 (-14.9%)	$176M (-18.0%)	0.9%	—	—	COM	124765108
LAMR	LAMAR ADVERTISING CO	140,364 (-70.2%)	$21.89M (-63.3%)	0.1%	—	—	CL A	512816109
IRM	IRON MTN INC DEL	1,737,300 (-2.4%)	$219M (+20.7%)	1.1%	—	—	PUT	46284V101
FBIN	FORTUNE BRANDS INNOVATIONS I	718 (-99.9%)	$39,418 (-99.9%)	0.0%	—	—	COM	34964C106
DKS	DICKS SPORTING GOODS INC	351,353 (-36.9%)	$79.69M (-27.8%)	0.4%	—	—	COM	253393102
RBLX	ROBLOX CORP	134,300 (-79.9%)	$7.303M (-80.7%)	0.0%	—	—	PUT	771049103
LH	LABCORP HOLDINGS INC	1,981,948 (-8.9%)	$555M (-4.4%)	2.7%	—	—	COM SHS	504922105
MLM	MARTIN MARIETTA MATLS INC	1,011,255 (-2.1%)	$583M (-4.1%)	2.9%	—	—	COM	573284106
TDY	TELEDYNE TECHNOLOGIES INC	146,635 (-26.3%)	$97.79M (-18.8%)	0.5%	—	—	COM	879360105
CR	CRANE COMPANY	571,432 (-7.2%)	$127M (+21.0%)	0.6%	—	—	COMMON STOCK	224408104
BN	BROOKFIELD CORP	206,886 (-73.0%)	$8.824M (-71.5%)	0.0%	—	—	CL A LTD VT SH	11271J107
CRH	CRH PLC	4,577,115 (-5.8%)	$490M (-4.1%)	2.4%	—	—	ORD	G25508105
NET	CLOUDFLARE INC	176,400 (-43.2%)	$43.27M (-32.5%)	0.2%	—	—	CALL	18915M107
FTV	FORTIVE CORP	1,215,882 (-29.0%)	$74.28M (-21.6%)	0.4%	—	—	COM	34959J108
CRWV	COREWEAVE INC	684,700 (-1.7%)	$68.16M (+26.4%)	0.3%	—	—	PUT	21873S108
LYV	LIVE NATION ENTERTAINMENT IN	4,523,826 (-15.4%)	$828M (+1.6%)	4.1%	—	—	COM	538034109
USLM	UNITED STS LIME & MINERALS I	380,570 (-6.2%)	$39.83M (-24.8%)	0.2%	—	—	COM	911922102
CP	CANADIAN PACIFIC KANSAS CITY	4,346,986 (-12.3%)	$377M (-3.1%)	1.9%	—	—	COM	13646K108
SGI	SOMNIGROUP INTERNATIONAL INC	8,892,691 (-4.1%)	$697M (+1.7%)	3.4%	—	—	COM	88023U101
NIQ	NIQ GLOBAL INTELLIGENCE PLC	1,782,894 (-25.5%)	$16.67M (-38.7%)	0.1%	—	—	ORDINARY SHARES	G63755105
GOOG	ALPHABET INC	170,100 (-2.2%)	$60.1M (+20.5%)	0.3%	—	—	CALL	02079K107
UNP	UNION PAC CORP	79,100 (-36.4%)	$21.52M (-28.7%)	0.1%	—	—	COM	907818108
KEX	KIRBY CORP	304,102 (-19.1%)	$41.35M (-17.2%)	0.2%	—	—	COM	497266106
FBIN	FORTUNE BRANDS INNOVATIONS I	599,700 (-11.8%)	$32.92M (+24.2%)	0.2%	—	—	CALL	34964C106
APG	API GROUP CORP	560,842 (-23.0%)	$23.75M (-19.5%)	0.1%	—	—	COM STK	00187Y100
PTLO	PORTILLOS INC	140,035 (-87.9%)	$664K (-89.1%)	0.0%	—	—	COM CL A	73642K106
WSM	WILLIAMS SONOMA INC	161,830 (-30.6%)	$37.72M (-11.2%)	0.2%	—	—	COM	969904101
GE	GE AEROSPACE	37,562 (-4.3%)	$14.04M (+26.0%)	0.1%	—	—	COM NEW	369604301
MTD	METTLER TOLEDO INTERNATIONAL	8,480 (-16.6%)	$10.83M (-15.5%)	0.1%	—	—	COM	592688105
PTON	PELOTON INTERACTIVE INC	998,069 (-44.8%)	$5.899M (-24.0%)	0.0%	—	—	CL A COM	70614W100
ARES	ARES MANAGEMENT CORPORATION	128,741 (-12.5%)	$14.33M (-10.7%)	0.1%	—	—	CL A COM STK	03990B101
BIP	BROOKFIELD INFRASTRUCTURE PA	19,213 (-69.5%)	$701K (-69.2%)	0.0%	—	—	LP INT UNIT	G16252101
OKLO	OKLO INC	637,500 (-1.5%)	$33.36M (+3.9%)	0.2%	—	—	PUT	02156V109
VFC	V F CORP	120,300 (-30.7%)	$2.007M (-32.0%)	0.0%	—	—	CALL	918204108
TRU	TRANSUNION	110,466 (-12.4%)	$7.969M (-8.7%)	0.0%	—	—	COM	89400J107
ONON	ON HLDG AG	387,900 (-2.0%)	$13.74M (+2.0%)	0.1%	—	—	CALL	H5919C104
PII	POLARIS INC	17,200 (-25.5%)	$1.177M (-6.5%)	0.0%	—	—	CALL	731068102
PII	POLARIS INC	149 (-52.1%)	$10,198 (-39.8%)	0.0%	—	—	COM	731068102
VFC	V F CORP	325 (-34.7%)	$5,421 (-35.9%)	0.0%	—	—	COM	918204108
BE	BLOOM ENERGY CORP	10 (-44.4%)	$3,027 (+24.1%)	0.0%	—	—	COM CL A	093712107

Unchanged Positions (3)

TSM TAIWAN SEMICONDUCTOR MANUFAC 2.4%

Value $489M Shares 1,024,189 Est. Cost — Unrealized —

FNV FRANCO NEV CORP 0.4%

Value $86.89M Shares 416,544 Est. Cost — Unrealized —

MOG/A MOOG INC 0.2%

Value $42.52M Shares 100,313 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	1,024,189	$489M	2.4%	—	—	SPONSORED ADS	874039100
FNV	FRANCO NEV CORP	416,544	$86.89M	0.4%	—	—	COM	351858105
MOG/A	MOOG INC	100,313	$42.52M	0.2%	—	—	CL A	615394202