Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	261,307	$88.28M	9.6%	—	—	COM	595112103
EWY	ISHARES INC	579,200	$71.25M	7.7%	—	—	MSCI STH KOR ETF	464286772
META	META PLATFORMS INC	67,560	$38.65M	4.2%	—	—	CL A	30303M102
GLW	CORNING INC	270,414	$36.77M	4.0%	—	—	COM	219350105
AMD	ADVANCED MICRO DEVICES INC	160,400	$32.63M	3.5%	—	—	COM	007903107
LRCX	LAM RESEARCH CORP	140,039	$29.92M	3.2%	—	—	COM NEW	512807306
BKR	BAKER HUGHES COMPANY	488,135	$29.8M	3.2%	—	—	CL A	05722G100
AMAT	APPLIED MATLS INC	86,800	$29.67M	3.2%	—	—	COM	038222105
BABA	ALIBABA GROUP HLDG LTD	185,000	$23.21M	2.5%	—	—	SPONSORED ADS	01609W102
ARM	ARM HOLDINGS PLC	107,400	$16.25M	1.8%	—	—	SPONSORED ADS	042068205
MKSI	MKS INC.	68,500	$15.74M	1.7%	—	—	COM	55306N104
KEYS	KEYSIGHT TECHNOLOGIES INC	50,200	$14.17M	1.5%	—	—	COM	49338L103
SLB	SLB LIMITED	250,000	$12.85M	1.4%	—	—	COM STK	806857108
RMBS	RAMBUS INC DEL	120,000	$10.32M	1.1%	—	—	COM	750917106
HAL	HALLIBURTON CO	200,000	$7.798M	0.8%	—	—	COM	406216101
NDAQ	NASDAQ INC	57,000	$4.839M	0.5%	—	—	COM	631103108
AEIS	ADVANCED ENERGY INDS	10,456	$3.374M	0.4%	—	—	COM	007973100
FICO	FAIR ISAAC CORP	3,000	$3.203M	0.3%	—	—	COM	303250104
ENTG	ENTEGRIS INC	10,000	$1.172M	0.1%	—	—	COM	29362U104
FTAI	FTAI AVIATION LTD	830	$203K	0.0%	—	—	SHS	G3730V105
VNET	VNET GROUP INC	10,900	$91,451	0.0%	—	—	SPONSORED ADS A	90138A103
DDL	DINGDONG CAYMAN LTD	33,000	$84,810	0.0%	—	—	ADS	25445D101

Increased Positions (6)

TSM TAIWAN SEMICONDUCTOR MANUFAC 5.9%

Value $54.96M (+2661.4%) Shares 162,640 (+2383.1%) Est. Cost — Unrealized —

DASH DOORDASH INC 2.9%

Value $27.24M (+196.0%) Shares 181,440 (+346.5%) Est. Cost — Unrealized —

INTC INTEL CORP 4.1%

Value $37.63M (+52.2%) Shares 852,600 (+27.3%) Est. Cost — Unrealized —

LIN LINDE PLC 3.3%

Value $30.19M (+69.4%) Shares 60,900 (+45.7%) Est. Cost — Unrealized —

ASML ASML HLDG NV 3.0%

Value $27.74M (+57.4%) Shares 21,000 (+27.5%) Est. Cost — Unrealized —

SNAP SNAP INC 0.8%

Value $7.222M (-16.4%) Shares 1,570,000 (+46.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	162,640 (+2383.1%)	$54.96M (+2661.4%)	5.9%	—	—	SPONSORED ADS	874039100
DASH	DOORDASH INC	181,440 (+346.5%)	$27.24M (+196.0%)	2.9%	—	—	CL A	25809K105
INTC	INTEL CORP	852,600 (+27.3%)	$37.63M (+52.2%)	4.1%	—	—	COM	458140100
LIN	LINDE PLC	60,900 (+45.7%)	$30.19M (+69.4%)	3.3%	—	—	SHS	G54950103
ASML	ASML HLDG NV	21,000 (+27.5%)	$27.74M (+57.4%)	3.0%	—	—	N Y REGISTRY SHS	N07059210
SNAP	SNAP INC	1,570,000 (+46.7%)	$7.222M (-16.4%)	0.8%	—	—	CL A	83304A106

Exited Positions (37)

KLAC KLA CORP 2.8%

Value $25.54M Shares 21,020 Est. Cost — Unrealized —

CLS CELESTICA INC 2.8%

Value $25.45M Shares 86,100 Est. Cost — Unrealized —

SNPS SYNOPSYS INC 2.7%

Value $24.76M Shares 52,708 Est. Cost — Unrealized —

PGR PROGRESSIVE CORP 2.5%

Value $22.72M Shares 99,777 Est. Cost — Unrealized —

LULU LULULEMON ATHLETICA INC 2.4%

Value $21.94M Shares 105,600 Est. Cost — Unrealized —

HUBS HUBSPOT INC 2.3%

Value $21.3M Shares 53,068 Est. Cost — Unrealized —

AVGO BROADCOM INC 2.3%

Value $20.84M Shares 60,212 Est. Cost — Unrealized —

PDD PDD HOLDINGS INC 2.2%

Value $20.09M Shares 177,200 Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 2.1%

Value $19.8M Shares 34,100 Est. Cost — Unrealized —

DDOG DATADOG INC 2.1%

Value $19.69M Shares 144,800 Est. Cost — Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 2.0%

Value $18.92M Shares 116,827 Est. Cost — Unrealized —

ANET ARISTA NETWORKS INC 1.8%

Value $17.03M Shares 130,000 Est. Cost — Unrealized —

SHOP SHOPIFY INC 1.8%

Value $16.62M Shares 103,233 Est. Cost — Unrealized —

MDB MONGODB INC 1.3%

Value $11.58M Shares 27,600 Est. Cost — Unrealized —

VEEV VEEVA SYS INC 1.2%

Value $11.34M Shares 50,792 Est. Cost — Unrealized —

HD HOME DEPOT INC 1.2%

Value $11.29M Shares 32,800 Est. Cost — Unrealized —

VRSK VERISK ANALYTICS INC 1.2%

Value $10.76M Shares 48,100 Est. Cost — Unrealized —

TSEM TOWER SEMICONDUCTOR LTD 1.1%

Value $10.57M Shares 90,000 Est. Cost — Unrealized —

APP APPLOVIN CORP 1.1%

Value $10.16M Shares 15,080 Est. Cost — Unrealized —

FIG FIGMA INC 1.1%

Value $9.724M Shares 260,200 Est. Cost — Unrealized —

CRDO CREDO TECHNOLOGY GROUP HOLDI 1.0%

Value $9.54M Shares 66,300 Est. Cost — Unrealized —

ALAB ASTERA LABS INC 1.0%

Value $9.185M Shares 55,213 Est. Cost — Unrealized —

SE SEA LTD 1.0%

Value $9.096M Shares 71,300 Est. Cost — Unrealized —

FLS FLOWSERVE CORP 0.6%

Value $5.55M Shares 80,000 Est. Cost — Unrealized —

PSTG PURE STORAGE INC 0.6%

Value $5.361M Shares 80,000 Est. Cost — Unrealized —

EL LAUDER ESTEE COS INC 0.5%

Value $4.88M Shares 46,600 Est. Cost — Unrealized —

DOCS DOXIMITY INC 0.5%

Value $4.428M Shares 100,000 Est. Cost — Unrealized —

GWRE GUIDEWIRE SOFTWARE INC 0.4%

Value $3.618M Shares 18,000 Est. Cost — Unrealized —

FLR FLUOR CORP NEW 0.4%

Value $3.3M Shares 83,275 Est. Cost — Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.2%

Value $2.272M Shares 26,736 Est. Cost — Unrealized —

AS AMER SPORTS INC 0.1%

Value $977K Shares 26,150 Est. Cost — Unrealized —

BTI BRITISH AMERN TOB PLC 0.1%

Value $922K Shares 16,290 Est. Cost — Unrealized —

SMTC SEMTECH CORP 0.1%

Value $597K Shares 8,100 Est. Cost — Unrealized —

TTMI TTM TECHNOLOGIES INC 0.1%

Value $552K Shares 8,000 Est. Cost — Unrealized —

STX SEAGATE TECHNOLOGY HLDNGS PL 0.1%

Value $501K Shares 1,820 Est. Cost — Unrealized —

AMKR AMKOR TECHNOLOGY INC 0.0%

Value $257K Shares 6,500 Est. Cost — Unrealized —

PONY PONY AI INC 0.0%

Value $229K Shares 15,760 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KLAC	KLA CORP	21,020	$25.54M	2.8%	—	—	—	482480100
CLS	CELESTICA INC	86,100	$25.45M	2.8%	—	—	—	15101Q207
SNPS	SYNOPSYS INC	52,708	$24.76M	2.7%	—	—	—	871607107
PGR	PROGRESSIVE CORP	99,777	$22.72M	2.5%	—	—	—	743315103
LULU	LULULEMON ATHLETICA INC	105,600	$21.94M	2.4%	—	—	—	550021109
HUBS	HUBSPOT INC	53,068	$21.3M	2.3%	—	—	—	443573100
AVGO	BROADCOM INC	60,212	$20.84M	2.3%	—	—	—	11135F101
PDD	PDD HOLDINGS INC	177,200	$20.09M	2.2%	—	—	—	722304102
SPOT	SPOTIFY TECHNOLOGY S A	34,100	$19.8M	2.1%	—	—	—	L8681T102
DDOG	DATADOG INC	144,800	$19.69M	2.1%	—	—	—	23804L103
ICE	INTERCONTINENTAL EXCHANGE IN	116,827	$18.92M	2.0%	—	—	—	45866F104
ANET	ARISTA NETWORKS INC	130,000	$17.03M	1.8%	—	—	—	040413205
SHOP	SHOPIFY INC	103,233	$16.62M	1.8%	—	—	—	82509L107
MDB	MONGODB INC	27,600	$11.58M	1.3%	—	—	—	60937P106
VEEV	VEEVA SYS INC	50,792	$11.34M	1.2%	—	—	—	922475108
HD	HOME DEPOT INC	32,800	$11.29M	1.2%	—	—	—	437076102
VRSK	VERISK ANALYTICS INC	48,100	$10.76M	1.2%	—	—	—	92345Y106
TSEM	TOWER SEMICONDUCTOR LTD	90,000	$10.57M	1.1%	—	—	—	M87915274
APP	APPLOVIN CORP	15,080	$10.16M	1.1%	—	—	—	03831W108
FIG	FIGMA INC	260,200	$9.724M	1.1%	—	—	—	316841105
CRDO	CREDO TECHNOLOGY GROUP HOLDI	66,300	$9.54M	1.0%	—	—	—	G25457105
ALAB	ASTERA LABS INC	55,213	$9.185M	1.0%	—	—	—	04626A103
SE	SEA LTD	71,300	$9.096M	1.0%	—	—	—	81141R100
FLS	FLOWSERVE CORP	80,000	$5.55M	0.6%	—	—	—	34354P105
PSTG	PURE STORAGE INC	80,000	$5.361M	0.6%	—	—	—	74624M102
EL	LAUDER ESTEE COS INC	46,600	$4.88M	0.5%	—	—	—	518439104
DOCS	DOXIMITY INC	100,000	$4.428M	0.5%	—	—	—	26622P107
GWRE	GUIDEWIRE SOFTWARE INC	18,000	$3.618M	0.4%	—	—	—	40171V100
FLR	FLUOR CORP NEW	83,275	$3.3M	0.4%	—	—	—	343412102
MRVL	MARVELL TECHNOLOGY INC	26,736	$2.272M	0.2%	—	—	—	573874104
AS	AMER SPORTS INC	26,150	$977K	0.1%	—	—	—	G0260P102
BTI	BRITISH AMERN TOB PLC	16,290	$922K	0.1%	—	—	—	110448107
SMTC	SEMTECH CORP	8,100	$597K	0.1%	—	—	—	816850101
TTMI	TTM TECHNOLOGIES INC	8,000	$552K	0.1%	—	—	—	87305R109
STX	SEAGATE TECHNOLOGY HLDNGS PL	1,820	$501K	0.1%	—	—	—	G7997R103
AMKR	AMKOR TECHNOLOGY INC	6,500	$257K	0.0%	—	—	—	031652100
PONY	PONY AI INC	15,760	$229K	0.0%	—	—	—	732908108

Decreased Positions (13)

GOOGL ALPHABET INC 4.6%

Value $42.62M (-59.5%) Shares 148,200 (-55.9%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.8%

Value $7.238M (-84.4%) Shares 41,500 (-83.3%) Est. Cost — Unrealized —

TCOM TRIP COM GROUP LTD 1.0%

Value $9.336M (-73.1%) Shares 187,500 (-61.2%) Est. Cost — Unrealized —

HOOD ROBINHOOD MKTS INC 3.9%

Value $35.78M (-39.9%) Shares 516,252 (-1.9%) Est. Cost — Unrealized —

U UNITY SOFTWARE INC 0.8%

Value $7.215M (-63.2%) Shares 328,865 (-25.9%) Est. Cost — Unrealized —

GOOG ALPHABET INC 0.0%

Value $229K (-97.4%) Shares 800 (-97.1%) Est. Cost — Unrealized —

RBLX ROBLOX CORP 1.9%

Value $17.92M (-32.0%) Shares 316,900 (-2.5%) Est. Cost — Unrealized —

TER TERADYNE INC 1.7%

Value $15.68M (-27.9%) Shares 52,887 (-52.9%) Est. Cost — Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC 1.7%

Value $15.48M (-24.7%) Shares 203,200 (-52.0%) Est. Cost — Unrealized —

COHR COHERENT CORP 1.3%

Value $11.91M (-20.0%) Shares 50,000 (-38.0%) Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 4.2%

Value $38.47M (-2.7%) Shares 54,745 (-49.0%) Est. Cost — Unrealized —

SNDK SANDISK CORP 3.6%

Value $33.33M (-1.9%) Shares 52,465 (-63.3%) Est. Cost — Unrealized —

WAB WABTEC 1.1%

Value $10.44M (-3.7%) Shares 41,794 (-17.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	148,200 (-55.9%)	$42.62M (-59.5%)	4.6%	—	—	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	41,500 (-83.3%)	$7.238M (-84.4%)	0.8%	—	—	COM	67066G104
TCOM	TRIP COM GROUP LTD	187,500 (-61.2%)	$9.336M (-73.1%)	1.0%	—	—	ADS	89677Q107
HOOD	ROBINHOOD MKTS INC	516,252 (-1.9%)	$35.78M (-39.9%)	3.9%	—	—	COM CL A	770700102
U	UNITY SOFTWARE INC	328,865 (-25.9%)	$7.215M (-63.2%)	0.8%	—	—	COM	91332U101
GOOG	ALPHABET INC	800 (-97.1%)	$229K (-97.4%)	0.0%	—	—	CAP STK CL C	02079K107
RBLX	ROBLOX CORP	316,900 (-2.5%)	$17.92M (-32.0%)	1.9%	—	—	CL A	771049103
TER	TERADYNE INC	52,887 (-52.9%)	$15.68M (-27.9%)	1.7%	—	—	COM	880770102
SOLS	SOLSTICE ADVANCED MATLS INC	203,200 (-52.0%)	$15.48M (-24.7%)	1.7%	—	—	COM SHS	83443Q103
COHR	COHERENT CORP	50,000 (-38.0%)	$11.91M (-20.0%)	1.3%	—	—	COM	19247G107
LITE	LUMENTUM HLDGS INC	54,745 (-49.0%)	$38.47M (-2.7%)	4.2%	—	—	COM	55024U109
SNDK	SANDISK CORP	52,465 (-63.3%)	$33.33M (-1.9%)	3.6%	—	—	COM	80004C200
WAB	WABTEC	41,794 (-17.7%)	$10.44M (-3.7%)	1.1%	—	—	COM	929740108

Unchanged Positions (3)

ROOT ROOT INC 0.8%

Value $7.102M Shares 160,798 Est. Cost — Unrealized —

EDU NEW ORIENTAL ED & TECHNOLOGY 1.0%

Value $8.795M Shares 155,300 Est. Cost — Unrealized —

PH PARKER-HANNIFIN CORP 0.8%

Value $7.52M Shares 8,400 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ROOT	ROOT INC	160,798	$7.102M	0.8%	—	—	CL A NEW	77664L207
EDU	NEW ORIENTAL ED & TECHNOLOGY	155,300	$8.795M	1.0%	—	—	SPON ADR	647581206
PH	PARKER-HANNIFIN CORP	8,400	$7.52M	0.8%	—	—	COM	701094104