Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	5,719,724	$4.21B	15.7%	—	—	UNIT SER 1	46090E103
AAPL	APPLE INC	1,620,000	$469M	1.7%	—	—	CALL	037833100
GE	GE AEROSPACE	1,200,000	$448M	1.7%	—	—	PUT	369604301
GOOGL	ALPHABET INC	1,020,000	$364M	1.4%	—	—	PUT	02079K305
GE	GE AEROSPACE	800,000	$299M	1.1%	—	—	CALL	369604301
GOOG	ALPHABET INC	800,000	$283M	1.1%	—	—	CALL	02079K107
GS	GOLDMAN SACHS GROUP INC	246,000	$249M	0.9%	—	—	CALL	38141G104
AMD	ADVANCED MICRO DEVICES INC	374,910	$218M	0.8%	—	—	CALL	007903107
GOOGL	ALPHABET INC	600,000	$214M	0.8%	—	—	CALL	02079K305
COF	CAPITAL ONE FINL CORP	960,000	$193M	0.7%	—	—	CALL	14040H105
C	CITIGROUP INC	750,000	$105M	0.4%	—	—	CALL	172967424
ANET	ARISTA NETWORKS INC	434,152	$73.78M	0.3%	—	—	COM SHS	040413205
HONA	HONEYWELL AEROSPACE INC	279,404	$61.62M	0.2%	—	—	COM	43849R105
HON	HONEYWELL INTL INC	237,512	$53.18M	0.2%	—	—	COM	438516205
CRWD	CROWDSTRIKE HLDGS INC	62,300	$47.53M	0.2%	—	—	CALL	22788C105
NKE	NIKE INC	1,100,000	$45.16M	0.2%	—	—	PUT	654106103
ALLY	ALLY FINL INC	973,466	$44.74M	0.2%	—	—	COM	02005N100
MOS	MOSAIC CO	2,050,000	$43.45M	0.2%	—	—	CALL	61945C103
FLR	FLUOR CORP	825,000	$43.22M	0.2%	—	—	CALL	343412102
KKR	KKR & CO INC	421,705	$38.7M	0.1%	—	—	COM	48251W104
NU	NU HLDGS LTD	2,810,589	$37.56M	0.1%	—	—	ORD SHS CL A	G6683N103
AMZN	AMAZON COM INC	150,000	$35.74M	0.1%	—	—	CALL	023135106
NU	NU HLDGS LTD	2,500,000	$33.41M	0.1%	—	—	CALL	G6683N103
ULTA	ULTA BEAUTY INC	67,584	$30.47M	0.1%	—	—	COM	90384S303
AMD	ADVANCED MICRO DEVICES INC	48,651	$28.23M	0.1%	—	—	COM	007903107
SNOW	SNOWFLAKE INC	107,699	$27.39M	0.1%	—	—	COM SHS	833445109
SHW	SHERWIN WILLIAMS CO	73,507	$25.29M	0.1%	—	—	COM	824348106
SPCX	SPACE EXPLORATION TECHN CORP	140,014	$23.92M	0.1%	—	—	CLASS A COM STK	84615Q103
INTC	INTEL CORP	169,689	$23.67M	0.1%	—	—	COM	458140100
AS	AMER SPORTS INC	616,279	$20.86M	0.1%	—	—	COM SHS	G0260P102
CRWD	CROWDSTRIKE HLDGS INC	26,400	$20.14M	0.1%	—	—	PUT	22788C105
XLI	SELECT SECTOR SPDR TR	100,000	$18.52M	0.1%	—	—	PUT	81369Y704
XLI	SELECT SECTOR SPDR TR	100,000	$18.52M	0.1%	—	—	CALL	81369Y704
AA	ALCOA CORP	350,000	$18.24M	0.1%	—	—	CALL	013872106
CCJ	CAMECO CORP	174,584	$17.78M	0.1%	—	—	COM	13321L108
XLE	SELECT SECTOR SPDR TR	320,000	$17M	0.1%	—	—	PUT	81369Y506
CE	CELANESE CORP DEL	320,489	$14.74M	0.1%	—	—	COM	150870103
PSN	PARSONS CORP DEL	263,318	$13.8M	0.1%	—	—	COM	70202L102
CORZ	CORE SCIENTIFIC INC NEW	510,000	$13.06M	0.0%	—	—	CALL	21874A106
OXY	OCCIDENTAL PETE CORP	236,900	$11.51M	0.0%	—	—	CALL	674599105
Q	QNITY ELECTRONICS INC	70,268	$11.48M	0.0%	—	—	COMMON STOCK	74743L100
OXY	OCCIDENTAL PETE CORP	234,200	$11.37M	0.0%	—	—	PUT	674599105
MRVL	MARVELL TECHNOLOGY INC	36,786	$10.95M	0.0%	—	—	COM	573874104
XRT	SPDR SERIES TRUST	112,438	$9.864M	0.0%	—	—	ST STR SP RETAIL	78464A714
ESAB	ESAB CORPORATION	99,570	$9.826M	0.0%	—	—	COM	29605J106
PFGC	PERFORMANCE FOOD GROUP CO	82,925	$9.268M	0.0%	—	—	COM	71377A103
AMCR	AMCOR PLC	208,996	$9.061M	0.0%	—	—	COM NEW	G0250X149
MDALF	MDA SPACE LTD	206,644	$8.532M	0.0%	—	—	COM	55293N109
ADI	ANALOG DEVICES INC	21,371	$8.484M	0.0%	—	—	COM	032654105
MTZ	MASTEC INC	20,000	$8.319M	0.0%	—	—	CALL	576323109
FERG	FERGUSON ENTERPRISES INC	34,766	$8.248M	0.0%	—	—	COMMON STOCK NEW	31488V107
TKR	TIMKEN CO	55,317	$8.04M	0.0%	—	—	COM	887389104
OXY	OCCIDENTAL PETE CORP	158,604	$7.703M	0.0%	—	—	COM	674599105
HUT	HUT 8 CORP	66,510	$7.683M	0.0%	—	—	COM	44812J104
USAR	USA RARE EARTH INC	345,985	$7.465M	0.0%	—	—	COM	91733P107
LOMA	LOMA NEGRA C I A S A MTN 14	610,457	$7.017M	0.0%	—	—	SPONSORED ADS	54150E104
TSAT	TELESAT CORP	137,737	$6.965M	0.0%	—	—	CL A & CL B SHS	879512309
BG	BUNGE GLOBAL SA	61,009	$6.508M	0.0%	—	—	COM SHS	H11356104
PWR	QUANTA SVCS INC	8,537	$6.146M	0.0%	—	—	COM	74762E102
UTHR	UNITED THERAPEUTICS CORP DEL	10,634	$5.759M	0.0%	—	—	COM	91307C102
APA	APA CORPORATION	170,500	$5.551M	0.0%	—	—	CALL	03743Q108
ASML	ASML HLDG NV	2,655	$5.279M	0.0%	—	—	N Y REGISTRY SHS	N07059210
FTAI	FTAI AVIATION LTD	19,269	$5.212M	0.0%	—	—	SHS	G3730V105
ECL	ECOLAB INC	18,587	$5.177M	0.0%	—	—	COM	278865100
IYT	ISHARES TR	59,100	$5.127M	0.0%	—	—	US TRSPRTION	464287192
MSM	MSC INDL DIRECT INC	42,980	$5.109M	0.0%	—	—	CL A	553530106
FSLR	FIRST SOLAR INC	19,912	$4.696M	0.0%	—	—	COM	336433107
IFS	INTERCORP FINL SVCS INC	80,623	$4.598M	0.0%	—	—	SHS	P5626F128
FCX	FREEPORT MCMORAN INC	63,617	$4.001M	0.0%	—	—	CL B	35671D857
RKT	ROCKET COS INC	242,668	$3.826M	0.0%	—	—	COM CL A	77311W101
CAT	CATERPILLAR INC	3,462	$3.685M	0.0%	—	—	COM	149123101
KLAC	KLA CORP	12,143	$3.658M	0.0%	—	—	COM NEW	482480100
COIN	COINBASE GLOBAL INC	25,000	$3.655M	0.0%	—	—	CALL	19260Q107
WULF	TERAWULF INC	138,706	$3.423M	0.0%	—	—	COM	88080T104
NXE	NEXGEN ENERGY LTD	363,086	$3.411M	0.0%	—	—	COM	65340P106
CSX	CSX CORP	64,076	$3.045M	0.0%	—	—	COM	126408103
UNH	UNITEDHEALTH GROUP INC	6,800	$2.825M	0.0%	—	—	CALL	91324P102
CIFR	CIPHER DIGITAL INC	112,101	$2.744M	0.0%	—	—	COM	17253J106
BLK	BLACKROCK INC	2,800	$2.69M	0.0%	—	—	CALL	09290D101
BLK	BLACKROCK INC	2,800	$2.69M	0.0%	—	—	PUT	09290D101
TXN	TEXAS INSTRS INC	7,841	$2.337M	0.0%	—	—	COM	882508104
SANM	SANMINA CORP	8,412	$2.13M	0.0%	—	—	COM	801056102
PANW	PALO ALTO NETWORKS INC	5,132	$1.749M	0.0%	—	—	COM	697435105
BTDR	BITDEER TECHNOLOGIES GROUP	95,452	$1.515M	0.0%	—	—	CL A ORD SHS	G11448100
OKE	ONEOK INC NEW	14,900	$1.295M	0.0%	—	—	PUT	682680103
AERO	GRUPO AEROMEXICO SAB DE CV	69,941	$1.256M	0.0%	—	—	SPONSORED ADS	40054J109
HPE	HEWLETT PACKARD ENTERPRISE C	24,061	$1.085M	0.0%	—	—	COM	42824C109
ASX	ASE TECHNOLOGY HLDG CO LTD	18,782	$847K	0.0%	—	—	SPONSORED ADS	00215W100
OKE	ONEOK INC NEW	9,123	$793K	0.0%	—	—	COM	682680103
XLF	SELECT SECTOR SPDR TR	13,265	$711K	0.0%	—	—	ST STR FINL ETF	81369Y605
BLK	BLACKROCK INC	430	$413K	0.0%	—	—	COM	09290D101
APH	AMPHENOL CORP	1,715	$302K	0.0%	—	—	CL A	032095101
NOK	NOKIA CORP	19,745	$262K	0.0%	—	—	SPONSORED ADR	654902204
UNH	UNITEDHEALTH GROUP INC	300	$125K	0.0%	—	—	PUT	91324P102
COIN	COINBASE GLOBAL INC	197	$28,801	0.0%	—	—	COM CL A	19260Q107
APA	APA CORPORATION	300	$9,767	0.0%	—	—	PUT	03743Q108

Increased Positions (35)

QQQ INVESCO QQQ TR 46.6%

Value $12.48B (+625.2%) Shares 16,953,400 (+468.8%) Est. Cost — Unrealized —

IWM ISHARES TR 2.0%

Value $547M (+3534.5%) Shares 1,820,700 (+2899.5%) Est. Cost — Unrealized —

SNDK SANDISK CORP 0.6%

Value $165M (+355.7%) Shares 72,771 (+27.5%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 0.4%

Value $104M (+8510.7%) Shares 279,213 (+8449.1%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 0.4%

Value $94.8M (+799.2%) Shares 397,840 (+686.3%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.4%

Value $105M (+200.8%) Shares 525,000 (+162.5%) Est. Cost — Unrealized —

NSC NORFOLK SOUTHN CORP 0.4%

Value $98.97M (+152.6%) Shares 314,671 (+130.6%) Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 0.4%

Value $106M (+128.9%) Shares 146,184 (+8.2%) Est. Cost — Unrealized —

CIEN CIENA CORP 0.2%

Value $62.33M (+141.6%) Shares 127,045 (+91.2%) Est. Cost — Unrealized —

GXO GXO LOGISTICS INCORPORATED 0.2%

Value $56.34M (+164.3%) Shares 1,110,869 (+170.3%) Est. Cost — Unrealized —

PCT PURECYCLE TECHNOLOGIES INC 0.1%

Value $40.04M (+432.0%) Shares 4,927,873 (+240.1%) Est. Cost — Unrealized —

DAR DARLING INGREDIENTS INC 0.2%

Value $57.55M (+128.0%) Shares 1,053,323 (+158.2%) Est. Cost — Unrealized —

C CITIGROUP INC 0.6%

Value $152M (+26.9%) Shares 1,085,285 (+2.9%) Est. Cost — Unrealized —

GLNG GOLAR LNG LTD 0.3%

Value $89.59M (+41.5%) Shares 1,797,559 (+53.7%) Est. Cost — Unrealized —

AVGO BROADCOM INC 0.4%

Value $98.15M (+34.0%) Shares 260,115 (+9.9%) Est. Cost — Unrealized —

ATI ATI INC 0.1%

Value $35.66M (+205.2%) Shares 180,935 (+125.2%) Est. Cost — Unrealized —

PCG PG&E CORP 0.3%

Value $76.2M (+42.8%) Shares 4,531,771 (+49.0%) Est. Cost — Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.3%

Value $86.19M (+33.8%) Shares 738,900 (+67.9%) Est. Cost — Unrealized —

IWM ISHARES TR 0.1%

Value $36.27M (+140.9%) Shares 120,700 (+98.8%) Est. Cost — Unrealized —

TSLA TESLA INC 0.2%

Value $46.87M (+77.3%) Shares 111,476 (+56.7%) Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.1%

Value $19.63M (+1832.2%) Shares 460,000 (+2739.5%) Est. Cost — Unrealized —

TTMI TTM TECHNOLOGIES INC 0.1%

Value $31.12M (+138.8%) Shares 166,379 (+24.4%) Est. Cost — Unrealized —

CTVA CORTEVA INC 0.1%

Value $20.79M (+396.6%) Shares 245,571 (+391.1%) Est. Cost — Unrealized —

GEV GE VERNOVA INC 0.1%

Value $27M (+157.8%) Shares 23,000 (+91.7%) Est. Cost — Unrealized —

KBR KBR INC 0.1%

Value $15.83M (+514.6%) Shares 458,352 (+556.2%) Est. Cost — Unrealized —

DB DEUTSCHE BK AG 0.1%

Value $15.99M (+317.7%) Shares 473,688 (+268.4%) Est. Cost — Unrealized —

FLS FLOWSERVE CORP 0.1%

Value $14.94M (+220.2%) Shares 201,393 (+217.1%) Est. Cost — Unrealized —

SLVM SYLVAMO CORP 0.1%

Value $16.99M (+57.3%) Shares 448,997 (+75.6%) Est. Cost — Unrealized —

PKG PACKAGING CORP AMER 0.0%

Value $8.518M (+123.2%) Shares 35,748 (+98.8%) Est. Cost — Unrealized —

ESI ELEMENT SOLUTIONS INC 0.0%

Value $8.421M (+115.7%) Shares 176,361 (+54.2%) Est. Cost — Unrealized —

ROK ROCKWELL AUTOMATION INC 0.0%

Value $8.055M (+104.6%) Shares 16,269 (+48.3%) Est. Cost — Unrealized —

FLR FLUOR CORP 0.0%

Value $9.228M (+52.5%) Shares 176,165 (+35.7%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 0.0%

Value $8.13M (+52.5%) Shares 21,800 (+51.4%) Est. Cost — Unrealized —

SW SMURFIT WESTROCK PLC 0.0%

Value $6.228M (+56.3%) Shares 134,649 (+34.6%) Est. Cost — Unrealized —

WFRD WEATHERFORD INTL PLC 0.0%

Value $853K (-12.6%) Shares 10,465 (+1.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	16,953,400 (+468.8%)	$12.48B (+625.2%)	46.6%	—	—	PUT	46090E103
IWM	ISHARES TR	1,820,700 (+2899.5%)	$547M (+3534.5%)	2.0%	—	—	CALL	464287655
SNDK	SANDISK CORP	72,771 (+27.5%)	$165M (+355.7%)	0.6%	—	—	COM	80004C200
MSFT	MICROSOFT CORP	279,213 (+8449.1%)	$104M (+8510.7%)	0.4%	—	—	COM	594918104
AMZN	AMAZON COM INC	397,840 (+686.3%)	$94.8M (+799.2%)	0.4%	—	—	COM	023135106
NVDA	NVIDIA CORPORATION	525,000 (+162.5%)	$105M (+200.8%)	0.4%	—	—	CALL	67066G104
NSC	NORFOLK SOUTHN CORP	314,671 (+130.6%)	$98.97M (+152.6%)	0.4%	—	—	COM	655844108
AMAT	APPLIED MATLS INC	146,184 (+8.2%)	$106M (+128.9%)	0.4%	—	—	COM	038222105
CIEN	CIENA CORP	127,045 (+91.2%)	$62.33M (+141.6%)	0.2%	—	—	COM NEW	171779309
GXO	GXO LOGISTICS INCORPORATED	1,110,869 (+170.3%)	$56.34M (+164.3%)	0.2%	—	—	COMMON STOCK	36262G101
PCT	PURECYCLE TECHNOLOGIES INC	4,927,873 (+240.1%)	$40.04M (+432.0%)	0.1%	—	—	COM	74623V103
DAR	DARLING INGREDIENTS INC	1,053,323 (+158.2%)	$57.55M (+128.0%)	0.2%	—	—	COM	237266101
C	CITIGROUP INC	1,085,285 (+2.9%)	$152M (+26.9%)	0.6%	—	—	COM NEW	172967424
GLNG	GOLAR LNG LTD	1,797,559 (+53.7%)	$89.59M (+41.5%)	0.3%	—	—	SHS	G9456A100
AVGO	BROADCOM INC	260,115 (+9.9%)	$98.15M (+34.0%)	0.4%	—	—	COM	11135F101
ATI	ATI INC	180,935 (+125.2%)	$35.66M (+205.2%)	0.1%	—	—	COM	01741R102
PCG	PG&E CORP	4,531,771 (+49.0%)	$76.2M (+42.8%)	0.3%	—	—	COM	69331C108
PLTR	PALANTIR TECHNOLOGIES INC	738,900 (+67.9%)	$86.19M (+33.8%)	0.3%	—	—	CALL	69608A108
IWM	ISHARES TR	120,700 (+98.8%)	$36.27M (+140.9%)	0.1%	—	—	PUT	464287655
TSLA	TESLA INC	111,476 (+56.7%)	$46.87M (+77.3%)	0.2%	—	—	COM	88160R101
BSX	BOSTON SCIENTIFIC CORP	460,000 (+2739.5%)	$19.63M (+1832.2%)	0.1%	—	—	CALL	101137107
TTMI	TTM TECHNOLOGIES INC	166,379 (+24.4%)	$31.12M (+138.8%)	0.1%	—	—	COM	87305R109
CTVA	CORTEVA INC	245,571 (+391.1%)	$20.79M (+396.6%)	0.1%	—	—	COM	22052L104
GEV	GE VERNOVA INC	23,000 (+91.7%)	$27M (+157.8%)	0.1%	—	—	CALL	36828A101
KBR	KBR INC	458,352 (+556.2%)	$15.83M (+514.6%)	0.1%	—	—	COM	48242W106
DB	DEUTSCHE BK AG	473,688 (+268.4%)	$15.99M (+317.7%)	0.1%	—	—	NAMEN AKT	D18190898
FLS	FLOWSERVE CORP	201,393 (+217.1%)	$14.94M (+220.2%)	0.1%	—	—	COM	34354P105
SLVM	SYLVAMO CORP	448,997 (+75.6%)	$16.99M (+57.3%)	0.1%	—	—	COMMON STOCK	871332102
PKG	PACKAGING CORP AMER	35,748 (+98.8%)	$8.518M (+123.2%)	0.0%	—	—	COM	695156109
ESI	ELEMENT SOLUTIONS INC	176,361 (+54.2%)	$8.421M (+115.7%)	0.0%	—	—	COM	28618M106
ROK	ROCKWELL AUTOMATION INC	16,269 (+48.3%)	$8.055M (+104.6%)	0.0%	—	—	COM	773903109
FLR	FLUOR CORP	176,165 (+35.7%)	$9.228M (+52.5%)	0.0%	—	—	COM	343412102
MSFT	MICROSOFT CORP	21,800 (+51.4%)	$8.13M (+52.5%)	0.0%	—	—	PUT	594918104
SW	SMURFIT WESTROCK PLC	134,649 (+34.6%)	$6.228M (+56.3%)	0.0%	—	—	SHS	G8267P108
WFRD	WEATHERFORD INTL PLC	10,465 (+1.4%)	$853K (-12.6%)	0.0%	—	—	ORD SHS	G48833118

Exited Positions (78)

EEM ISHARES TR 1.9%

Value $511M Shares 9,000,000 Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 1.2%

Value $332M Shares 5,100,000 Est. Cost — Unrealized —

XLV SELECT SECTOR SPDR TR 0.6%

Value $152M Shares 1,036,116 Est. Cost — Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.5%

Value $135M Shares 701,812 Est. Cost — Unrealized —

EWZ ISHARES INC 0.5%

Value $130M Shares 3,400,000 Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.5%

Value $127M Shares 375,000 Est. Cost — Unrealized —

XLP SELECT SECTOR SPDR TR 0.5%

Value $123M Shares 1,502,900 Est. Cost — Unrealized —

CRWD CROWDSTRIKE HLDGS INC 0.4%

Value $104M Shares 267,078 Est. Cost — Unrealized —

XLE SELECT SECTOR SPDR TR 0.4%

Value $97.36M Shares 1,590,000 Est. Cost — Unrealized —

HON HONEYWELL INTL INC 0.4%

Value $93.78M Shares 414,951 Est. Cost — Unrealized —

XLP SELECT SECTOR SPDR TR 0.3%

Value $91.4M Shares 1,115,233 Est. Cost — Unrealized —

GEV GE VERNOVA INC 0.2%

Value $64.72M Shares 74,160 Est. Cost — Unrealized —

LMT LOCKHEED MARTIN CORP 0.2%

Value $62.43M Shares 103,311 Est. Cost — Unrealized —

XLY SELECT SECTOR SPDR TR 0.2%

Value $60.82M Shares 558,230 Est. Cost — Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 0.2%

Value $59.61M Shares 172,704 Est. Cost — Unrealized —

XOP SPDR SERIES TRUST 0.2%

Value $55.27M Shares 303,988 Est. Cost — Unrealized —

GS GOLDMAN SACHS GROUP INC 0.2%

Value $50.25M Shares 59,409 Est. Cost — Unrealized —

EEM ISHARES TR 0.2%

Value $48.26M Shares 850,000 Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 0.2%

Value $46.17M Shares 708,884 Est. Cost — Unrealized —

V VISA INC 0.2%

Value $45.86M Shares 151,738 Est. Cost — Unrealized —

JCI JOHNSON CONTROLS INTERNATION 0.2%

Value $45.83M Shares 350,030 Est. Cost — Unrealized —

MA MASTERCARD INCORPORATED 0.2%

Value $44.29M Shares 88,635 Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 0.2%

Value $43.85M Shares 90,446 Est. Cost — Unrealized —

XBI SPDR SERIES TRUST 0.2%

Value $42.15M Shares 330,000 Est. Cost — Unrealized —

XBI SPDR SERIES TRUST 0.2%

Value $42.15M Shares 330,000 Est. Cost — Unrealized —

RAL RALLIANT CORP 0.2%

Value $42.02M Shares 1,010,520 Est. Cost — Unrealized —

TSEM TOWER SEMICONDUCTOR LTD 0.2%

Value $41.71M Shares 237,628 Est. Cost — Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.1%

Value $39.67M Shares 316,064 Est. Cost — Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.1%

Value $38.91M Shares 310,000 Est. Cost — Unrealized —

MU MICRON TECHNOLOGY INC 0.1%

Value $33.77M Shares 100,000 Est. Cost — Unrealized —

MU MICRON TECHNOLOGY INC 0.1%

Value $33.77M Shares 100,000 Est. Cost — Unrealized —

JBL JABIL INC 0.1%

Value $31.25M Shares 117,637 Est. Cost — Unrealized —

PG PROCTER & GAMBLE CO 0.1%

Value $29.91M Shares 207,099 Est. Cost — Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.1%

Value $24.26M Shares 400,000 Est. Cost — Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.1%

Value $24.26M Shares 400,000 Est. Cost — Unrealized —

CVX CHEVRON CORPORATION 0.1%

Value $24.08M Shares 116,387 Est. Cost — Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.1%

Value $19.63M Shares 81,000 Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 0.1%

Value $19.54M Shares 300,000 Est. Cost — Unrealized —

AXTI AXT INC 0.1%

Value $18.84M Shares 330,788 Est. Cost — Unrealized —

— PG&E CORP 0.1%

Value $15.55M Shares 15,000 Est. Cost — Unrealized —

GOOG ALPHABET INC 0.1%

Value $14.03M Shares 48,906 Est. Cost — Unrealized —

STUB STUBHUB HLDGS INC 0.0%

Value $13.37M Shares 2,143,423 Est. Cost — Unrealized —

LYB LYONDELLBASELL INDUSTRIES NV 0.0%

Value $13.22M Shares 164,124 Est. Cost — Unrealized —

CAT CATERPILLAR INC 0.0%

Value $13.03M Shares 18,400 Est. Cost — Unrealized —

DY DYCOM INDS INC 0.0%

Value $12.89M Shares 38,032 Est. Cost — Unrealized —

KEX KIRBY CORP 0.0%

Value $9.91M Shares 74,590 Est. Cost — Unrealized —

JAZZ JAZZ PHARMACEUTICALS PLC 0.0%

Value $9.833M Shares 52,017 Est. Cost — Unrealized —

ROKU ROKU INC 0.0%

Value $9.381M Shares 99,162 Est. Cost — Unrealized —

EME EMCOR GROUP INC 0.0%

Value $9.299M Shares 12,589 Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.0%

Value $8.79M Shares 140,163 Est. Cost — Unrealized —

DE DEERE & CO 0.0%

Value $8.779M Shares 15,586 Est. Cost — Unrealized —

BAC BANK AMERICA CORP 0.0%

Value $8.545M Shares 175,300 Est. Cost — Unrealized —

BAC BANK AMERICA CORP 0.0%

Value $8.545M Shares 175,300 Est. Cost — Unrealized —

PH PARKER-HANNIFIN CORP 0.0%

Value $7.974M Shares 8,908 Est. Cost — Unrealized —

FDX FEDEX CORP 0.0%

Value $7.35M Shares 20,630 Est. Cost — Unrealized —

WLK WESTLAKE CORPORATION 0.0%

Value $7.104M Shares 60,800 Est. Cost — Unrealized —

OLN OLIN CORP 0.0%

Value $6.834M Shares 229,817 Est. Cost — Unrealized —

JNJ JOHNSON & JOHNSON 0.0%

Value $5.937M Shares 24,288 Est. Cost — Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.0%

Value $4.955M Shares 50,000 Est. Cost — Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.0%

Value $4.955M Shares 50,000 Est. Cost — Unrealized —

FIG FIGMA INC 0.0%

Value $4.414M Shares 208,638 Est. Cost — Unrealized —

ONC BEONE MEDICINES LTD 0.0%

Value $4.256M Shares 14,335 Est. Cost — Unrealized —

IAG IAMGOLD CORP 0.0%

Value $4.148M Shares 220,601 Est. Cost — Unrealized —

HOOD ROBINHOOD MKTS INC 0.0%

Value $4.067M Shares 58,702 Est. Cost — Unrealized —

COP CONOCOPHILLIPS 0.0%

Value $4.065M Shares 30,800 Est. Cost — Unrealized —

MNST MONSTER BEVERAGE CORP NEW 0.0%

Value $4.056M Shares 55,979 Est. Cost — Unrealized —

CLS CELESTICA INC 0.0%

Value $3.997M Shares 14,197 Est. Cost — Unrealized —

AKAM AKAMAI TECHNOLOGIES INC 0.0%

Value $3.889M Shares 33,855 Est. Cost — Unrealized —

INTU INTUIT 0.0%

Value $3.727M Shares 8,620 Est. Cost — Unrealized —

ADSK AUTODESK INC 0.0%

Value $3.513M Shares 14,678 Est. Cost — Unrealized —

VECO VEECO INSTRS INC DEL 0.0%

Value $3.228M Shares 95,300 Est. Cost — Unrealized —

AVAV AEROVIRONMENT INC 0.0%

Value $2.504M Shares 13,677 Est. Cost — Unrealized —

MTZ MASTEC INC 0.0%

Value $2.191M Shares 6,813 Est. Cost — Unrealized —

SEI SOLARIS ENERGY INFRAS INC 0.0%

Value $1.9M Shares 33,613 Est. Cost — Unrealized —

URI UNITED RENTALS INC 0.0%

Value $1.708M Shares 2,347 Est. Cost — Unrealized —

OPTU OPTIMUM COMMUNICATIONS INC 0.0%

Value $1.305M Shares 1,000,000 Est. Cost — Unrealized —

UAL UNITED AIRLS HLDGS INC 0.0%

Value $1.223M Shares 13,280 Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.0%

Value $1.016M Shares 16,200 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EEM	ISHARES TR	9,000,000	$511M	1.9%	—	—	PUT	464287234
KRE	SPDR SERIES TRUST	5,100,000	$332M	1.2%	—	—	CALL	78464A698
XLV	SELECT SECTOR SPDR TR	1,036,116	$152M	0.6%	—	—	—	81369Y209
RSP	INVESCO EXCHANGE TRADED FD T	701,812	$135M	0.5%	—	—	—	46137V357
EWZ	ISHARES INC	3,400,000	$130M	0.5%	—	—	CALL	464286400
TSM	TAIWAN SEMICONDUCTOR MANUFAC	375,000	$127M	0.5%	—	—	PUT	874039100
XLP	SELECT SECTOR SPDR TR	1,502,900	$123M	0.5%	—	—	PUT	81369Y308
CRWD	CROWDSTRIKE HLDGS INC	267,078	$104M	0.4%	—	—	—	22788C105
XLE	SELECT SECTOR SPDR TR	1,590,000	$97.36M	0.4%	—	—	CALL	81369Y506
HON	HONEYWELL INTL INC	414,951	$93.78M	0.4%	—	—	—	438516106
XLP	SELECT SECTOR SPDR TR	1,115,233	$91.4M	0.3%	—	—	—	81369Y308
GEV	GE VERNOVA INC	74,160	$64.72M	0.2%	—	—	—	36828A101
LMT	LOCKHEED MARTIN CORP	103,311	$62.43M	0.2%	—	—	—	539830109
XLY	SELECT SECTOR SPDR TR	558,230	$60.82M	0.2%	—	—	—	81369Y407
LHX	L3HARRIS TECHNOLOGIES INC	172,704	$59.61M	0.2%	—	—	—	502431109
XOP	SPDR SERIES TRUST	303,988	$55.27M	0.2%	—	—	—	78468R556
GS	GOLDMAN SACHS GROUP INC	59,409	$50.25M	0.2%	—	—	—	38141G104
EEM	ISHARES TR	850,000	$48.26M	0.2%	—	—	CALL	464287234
KRE	SPDR SERIES TRUST	708,884	$46.17M	0.2%	—	—	—	78464A698
V	VISA INC	151,738	$45.86M	0.2%	—	—	—	92826C839
JCI	JOHNSON CONTROLS INTERNATION	350,030	$45.83M	0.2%	—	—	—	G51502105
MA	MASTERCARD INCORPORATED	88,635	$44.29M	0.2%	—	—	—	57636Q104
SPOT	SPOTIFY TECHNOLOGY S A	90,446	$43.85M	0.2%	—	—	—	L8681T102
XBI	SPDR SERIES TRUST	330,000	$42.15M	0.2%	—	—	PUT	78464A870
XBI	SPDR SERIES TRUST	330,000	$42.15M	0.2%	—	—	CALL	78464A870
RAL	RALLIANT CORP	1,010,520	$42.02M	0.2%	—	—	—	750940108
TSEM	TOWER SEMICONDUCTOR LTD	237,628	$41.71M	0.2%	—	—	—	M87915274
BABA	ALIBABA GROUP HLDG LTD	316,064	$39.67M	0.1%	—	—	—	01609W102
BABA	ALIBABA GROUP HLDG LTD	310,000	$38.91M	0.1%	—	—	CALL	01609W102
MU	MICRON TECHNOLOGY INC	100,000	$33.77M	0.1%	—	—	PUT	595112103
MU	MICRON TECHNOLOGY INC	100,000	$33.77M	0.1%	—	—	CALL	595112103
JBL	JABIL INC	117,637	$31.25M	0.1%	—	—	—	466313103
PG	PROCTER & GAMBLE CO	207,099	$29.91M	0.1%	—	—	—	742718109
BMY	BRISTOL-MYERS SQUIBB CO	400,000	$24.26M	0.1%	—	—	CALL	110122108
BMY	BRISTOL-MYERS SQUIBB CO	400,000	$24.26M	0.1%	—	—	PUT	110122108
CVX	CHEVRON CORPORATION	116,387	$24.08M	0.1%	—	—	—	166764100
IBM	INTERNATIONAL BUSINESS MACHS	81,000	$19.63M	0.1%	—	—	CALL	459200101
KRE	SPDR SERIES TRUST	300,000	$19.54M	0.1%	—	—	PUT	78464A698
AXTI	AXT INC	330,788	$18.84M	0.1%	—	—	—	00246W103
—	PG&E CORP	15,000	$15.55M	0.1%	—	—	—	69331CAL2
GOOG	ALPHABET INC	48,906	$14.03M	0.1%	—	—	—	02079K107
STUB	STUBHUB HLDGS INC	2,143,423	$13.37M	0.0%	—	—	—	86384P109
LYB	LYONDELLBASELL INDUSTRIES NV	164,124	$13.22M	0.0%	—	—	—	N53745100
CAT	CATERPILLAR INC	18,400	$13.03M	0.0%	—	—	CALL	149123101
DY	DYCOM INDS INC	38,032	$12.89M	0.0%	—	—	—	267475101
KEX	KIRBY CORP	74,590	$9.91M	0.0%	—	—	—	497266106
JAZZ	JAZZ PHARMACEUTICALS PLC	52,017	$9.833M	0.0%	—	—	—	G50871105
ROKU	ROKU INC	99,162	$9.381M	0.0%	—	—	—	77543R102
EME	EMCOR GROUP INC	12,589	$9.299M	0.0%	—	—	—	29084Q100
BSX	BOSTON SCIENTIFIC CORP	140,163	$8.79M	0.0%	—	—	—	101137107
DE	DEERE & CO	15,586	$8.779M	0.0%	—	—	—	244199105
BAC	BANK AMERICA CORP	175,300	$8.545M	0.0%	—	—	PUT	060505104
BAC	BANK AMERICA CORP	175,300	$8.545M	0.0%	—	—	CALL	060505104
PH	PARKER-HANNIFIN CORP	8,908	$7.974M	0.0%	—	—	—	701094104
FDX	FEDEX CORP	20,630	$7.35M	0.0%	—	—	—	31428X106
WLK	WESTLAKE CORPORATION	60,800	$7.104M	0.0%	—	—	—	960413102
OLN	OLIN CORP	229,817	$6.834M	0.0%	—	—	—	680665205
JNJ	JOHNSON & JOHNSON	24,288	$5.937M	0.0%	—	—	—	478160104
MRVL	MARVELL TECHNOLOGY INC	50,000	$4.955M	0.0%	—	—	PUT	573874104
MRVL	MARVELL TECHNOLOGY INC	50,000	$4.955M	0.0%	—	—	CALL	573874104
FIG	FIGMA INC	208,638	$4.414M	0.0%	—	—	—	316841105
ONC	BEONE MEDICINES LTD	14,335	$4.256M	0.0%	—	—	—	07725L102
IAG	IAMGOLD CORP	220,601	$4.148M	0.0%	—	—	—	450913108
HOOD	ROBINHOOD MKTS INC	58,702	$4.067M	0.0%	—	—	—	770700102
COP	CONOCOPHILLIPS	30,800	$4.065M	0.0%	—	—	—	20825C104
MNST	MONSTER BEVERAGE CORP NEW	55,979	$4.056M	0.0%	—	—	—	61174X109
CLS	CELESTICA INC	14,197	$3.997M	0.0%	—	—	—	15101Q207
AKAM	AKAMAI TECHNOLOGIES INC	33,855	$3.889M	0.0%	—	—	—	00971T101
INTU	INTUIT	8,620	$3.727M	0.0%	—	—	—	461202103
ADSK	AUTODESK INC	14,678	$3.513M	0.0%	—	—	—	052769106
VECO	VEECO INSTRS INC DEL	95,300	$3.228M	0.0%	—	—	—	922417100
AVAV	AEROVIRONMENT INC	13,677	$2.504M	0.0%	—	—	—	008073108
MTZ	MASTEC INC	6,813	$2.191M	0.0%	—	—	—	576323109
SEI	SOLARIS ENERGY INFRAS INC	33,613	$1.9M	0.0%	—	—	—	83418M103
URI	UNITED RENTALS INC	2,347	$1.708M	0.0%	—	—	—	911363109
OPTU	OPTIMUM COMMUNICATIONS INC	1,000,000	$1.305M	0.0%	—	—	—	02156K103
UAL	UNITED AIRLS HLDGS INC	13,280	$1.223M	0.0%	—	—	—	910047109
BSX	BOSTON SCIENTIFIC CORP	16,200	$1.016M	0.0%	—	—	PUT	101137107

Decreased Positions (49)

QQQ INVESCO QQQ TR 1.5%

Value $411M (-76.7%) Shares 558,400 (-81.7%) Est. Cost — Unrealized —

GOOGL ALPHABET INC 0.7%

Value $199M (-78.8%) Shares 557,702 (-83.0%) Est. Cost — Unrealized —

META META PLATFORMS INC 1.8%

Value $471M (-37.6%) Shares 837,000 (-36.7%) Est. Cost — Unrealized —

AAPL APPLE INC 0.5%

Value $136M (-64.7%) Shares 468,632 (-69.0%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.1%

Value $36.78M (-80.0%) Shares 65,300 (-79.7%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.7%

Value $190M (-41.4%) Shares 949,132 (-48.9%) Est. Cost — Unrealized —

SATS ECHOSTAR CORP 0.0%

Value $1.74M (-98.4%) Shares 17,135 (-98.2%) Est. Cost — Unrealized —

RTX RTX CORPORATION 0.0%

Value $2.134M (-98.0%) Shares 11,251 (-98.0%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.4%

Value $113M (-36.0%) Shares 201,190 (-35.0%) Est. Cost — Unrealized —

GLW CORNING INC 0.0%

Value $1.321M (-97.5%) Shares 5,172 (-98.7%) Est. Cost — Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.1%

Value $14M (-78.3%) Shares 120,000 (-72.7%) Est. Cost — Unrealized —

LRCX LAM RESEARCH CORP 0.4%

Value $103M (+85.1%) Shares 237,269 (-8.7%) Est. Cost — Unrealized —

EQT EQT CORP 0.3%

Value $71.24M (-35.7%) Shares 1,340,046 (-23.0%) Est. Cost — Unrealized —

KRMN KARMAN HLDGS INC 0.0%

Value $242K (-99.3%) Shares 4,843 (-98.9%) Est. Cost — Unrealized —

EXE EXPAND ENERGY CORPORATION 0.2%

Value $62.79M (-33.7%) Shares 688,699 (-20.2%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 2.1%

Value $569M (+5.9%) Shares 2,846,300 (-7.6%) Est. Cost — Unrealized —

BKR BAKER HUGHES COMPANY 0.0%

Value $2.663M (-92.0%) Shares 47,992 (-91.2%) Est. Cost — Unrealized —

MS MORGAN STANLEY 0.1%

Value $14.48M (-62.8%) Shares 69,301 (-70.7%) Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 0.2%

Value $61.4M (-24.4%) Shares 71,577 (-38.1%) Est. Cost — Unrealized —

LIN LINDE PLC 0.0%

Value $409K (-98.0%) Shares 788 (-98.1%) Est. Cost — Unrealized —

COHR COHERENT CORP 0.1%

Value $40.05M (-31.6%) Shares 101,561 (-58.7%) Est. Cost — Unrealized —

DDOG DATADOG INC 0.0%

Value $1.004M (-94.7%) Shares 3,857 (-97.6%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.0%

Value $8.749M (-67.2%) Shares 18,341 (-76.8%) Est. Cost — Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.0%

Value $7.216M (-70.2%) Shares 61,865 (-62.7%) Est. Cost — Unrealized —

KEYS KEYSIGHT TECHNOLOGIES INC 0.0%

Value $4.868M (-77.1%) Shares 13,905 (-81.5%) Est. Cost — Unrealized —

SLB SLB LIMITED 0.1%

Value $19.32M (-45.4%) Shares 415,613 (-39.6%) Est. Cost — Unrealized —

HAL HALLIBURTON CO 0.1%

Value $19.07M (-45.1%) Shares 562,079 (-36.9%) Est. Cost — Unrealized —

WDC WESTERN DIGITAL CORP 0.1%

Value $38.3M (-28.7%) Shares 59,993 (-69.8%) Est. Cost — Unrealized —

TER TERADYNE INC 0.2%

Value $44.35M (+45.3%) Shares 91,693 (-11.0%) Est. Cost — Unrealized —

VLO VALERO ENERGY CORP 0.1%

Value $32.44M (-29.6%) Shares 124,563 (-33.2%) Est. Cost — Unrealized —

FN FABRINET 0.1%

Value $19.13M (-39.8%) Shares 34,027 (-44.1%) Est. Cost — Unrealized —

VST VISTRA CORP 0.1%

Value $32.13M (-28.1%) Shares 202,530 (-31.9%) Est. Cost — Unrealized —

NTRA NATERA INC 0.1%

Value $37.21M (-23.4%) Shares 137,049 (-43.6%) Est. Cost — Unrealized —

STX SEAGATE TECHNOLOGY HLDNGS PL 0.1%

Value $37.93M (-22.8%) Shares 39,320 (-68.7%) Est. Cost — Unrealized —

TDS TELEPHONE & DATA SYS INC 0.0%

Value $9.907M (-52.9%) Shares 267,640 (-46.5%) Est. Cost — Unrealized —

CENX CENTURY ALUM CO 0.1%

Value $16.34M (-36.3%) Shares 355,002 (-18.7%) Est. Cost — Unrealized —

RIG TRANSOCEAN LTD 0.0%

Value $12.82M (-39.0%) Shares 2,619,483 (-17.4%) Est. Cost — Unrealized —

TLN TALEN ENERGY CORP 0.0%

Value $10.57M (-40.9%) Shares 27,488 (-51.0%) Est. Cost — Unrealized —

AA ALCOA CORP 0.0%

Value $4.782M (-60.2%) Shares 91,738 (-49.3%) Est. Cost — Unrealized —

WMT WALMART INC 0.1%

Value $15.04M (-24.7%) Shares 132,792 (-17.3%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 0.0%

Value $8.13M (-36.2%) Shares 21,800 (-36.6%) Est. Cost — Unrealized —

DAL DELTA AIR LINES INC 0.1%

Value $33.13M (-11.8%) Shares 353,744 (-37.4%) Est. Cost — Unrealized —

MU MICRON TECHNOLOGY INC 0.2%

Value $61.79M (-5.3%) Shares 53,644 (-72.2%) Est. Cost — Unrealized —

AMKR AMKOR TECHNOLOGY INC 0.0%

Value $2.973M (-53.7%) Shares 34,493 (-75.8%) Est. Cost — Unrealized —

TAC TRANSALTA CORP 0.1%

Value $28.49M (-5.3%) Shares 2,061,847 (-10.1%) Est. Cost — Unrealized —

TSLA TESLA INC 0.3%

Value $89.51M (+1.5%) Shares 212,900 (-10.2%) Est. Cost — Unrealized —

XP XP INC 0.0%

Value $3.581M (-18.7%) Shares 220,146 (-4.8%) Est. Cost — Unrealized —

MP MP MATERIALS CORP 0.1%

Value $26.75M (+0.7%) Shares 477,535 (-13.2%) Est. Cost — Unrealized —

ITT ITT INC 0.1%

Value $13.5M (-0.9%) Shares 68,257 (-4.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	558,400 (-81.7%)	$411M (-76.7%)	1.5%	—	—	CALL	46090E103
GOOGL	ALPHABET INC	557,702 (-83.0%)	$199M (-78.8%)	0.7%	—	—	CAP STK CL A	02079K305
META	META PLATFORMS INC	837,000 (-36.7%)	$471M (-37.6%)	1.8%	—	—	PUT	30303M102
AAPL	APPLE INC	468,632 (-69.0%)	$136M (-64.7%)	0.5%	—	—	COM	037833100
META	META PLATFORMS INC	65,300 (-79.7%)	$36.78M (-80.0%)	0.1%	—	—	CALL	30303M102
NVDA	NVIDIA CORPORATION	949,132 (-48.9%)	$190M (-41.4%)	0.7%	—	—	COM	67066G104
SATS	ECHOSTAR CORP	17,135 (-98.2%)	$1.74M (-98.4%)	0.0%	—	—	CL A	278768106
RTX	RTX CORPORATION	11,251 (-98.0%)	$2.134M (-98.0%)	0.0%	—	—	COM	75513E101
META	META PLATFORMS INC	201,190 (-35.0%)	$113M (-36.0%)	0.4%	—	—	CL A	30303M102
GLW	CORNING INC	5,172 (-98.7%)	$1.321M (-97.5%)	0.0%	—	—	COM	219350105
PLTR	PALANTIR TECHNOLOGIES INC	120,000 (-72.7%)	$14M (-78.3%)	0.1%	—	—	PUT	69608A108
LRCX	LAM RESEARCH CORP	237,269 (-8.7%)	$103M (+85.1%)	0.4%	—	—	COM NEW	512807306
EQT	EQT CORP	1,340,046 (-23.0%)	$71.24M (-35.7%)	0.3%	—	—	COM	26884L109
KRMN	KARMAN HLDGS INC	4,843 (-98.9%)	$242K (-99.3%)	0.0%	—	—	COMMON STOCK	485924104
EXE	EXPAND ENERGY CORPORATION	688,699 (-20.2%)	$62.79M (-33.7%)	0.2%	—	—	COM	165167735
NVDA	NVIDIA CORPORATION	2,846,300 (-7.6%)	$569M (+5.9%)	2.1%	—	—	PUT	67066G104
BKR	BAKER HUGHES COMPANY	47,992 (-91.2%)	$2.663M (-92.0%)	0.0%	—	—	CL A	05722G100
MS	MORGAN STANLEY	69,301 (-70.7%)	$14.48M (-62.8%)	0.1%	—	—	COM NEW	617446448
LITE	LUMENTUM HLDGS INC	71,577 (-38.1%)	$61.4M (-24.4%)	0.2%	—	—	COM	55024U109
LIN	LINDE PLC	788 (-98.1%)	$409K (-98.0%)	0.0%	—	—	SHS	G54950103
COHR	COHERENT CORP	101,561 (-58.7%)	$40.05M (-31.6%)	0.1%	—	—	COM	19247G107
DDOG	DATADOG INC	3,857 (-97.6%)	$1.004M (-94.7%)	0.0%	—	—	CL A COM	23804L103
TSM	TAIWAN SEMICONDUCTOR MANUFAC	18,341 (-76.8%)	$8.749M (-67.2%)	0.0%	—	—	SPONSORED ADS	874039100
PLTR	PALANTIR TECHNOLOGIES INC	61,865 (-62.7%)	$7.216M (-70.2%)	0.0%	—	—	CL A	69608A108
KEYS	KEYSIGHT TECHNOLOGIES INC	13,905 (-81.5%)	$4.868M (-77.1%)	0.0%	—	—	COM	49338L103
SLB	SLB LIMITED	415,613 (-39.6%)	$19.32M (-45.4%)	0.1%	—	—	COM STK	806857108
HAL	HALLIBURTON CO	562,079 (-36.9%)	$19.07M (-45.1%)	0.1%	—	—	COM	406216101
WDC	WESTERN DIGITAL CORP	59,993 (-69.8%)	$38.3M (-28.7%)	0.1%	—	—	COM	958102105
TER	TERADYNE INC	91,693 (-11.0%)	$44.35M (+45.3%)	0.2%	—	—	COM	880770102
VLO	VALERO ENERGY CORP	124,563 (-33.2%)	$32.44M (-29.6%)	0.1%	—	—	COM	91913Y100
FN	FABRINET	34,027 (-44.1%)	$19.13M (-39.8%)	0.1%	—	—	SHS	G3323L100
VST	VISTRA CORP	202,530 (-31.9%)	$32.13M (-28.1%)	0.1%	—	—	COM	92840M102
NTRA	NATERA INC	137,049 (-43.6%)	$37.21M (-23.4%)	0.1%	—	—	COM	632307104
STX	SEAGATE TECHNOLOGY HLDNGS PL	39,320 (-68.7%)	$37.93M (-22.8%)	0.1%	—	—	ORD SHS	G7997R103
TDS	TELEPHONE & DATA SYS INC	267,640 (-46.5%)	$9.907M (-52.9%)	0.0%	—	—	COM NEW	879433829
CENX	CENTURY ALUM CO	355,002 (-18.7%)	$16.34M (-36.3%)	0.1%	—	—	COM	156431108
RIG	TRANSOCEAN LTD	2,619,483 (-17.4%)	$12.82M (-39.0%)	0.0%	—	—	REGISTERED SHS	H8817H100
TLN	TALEN ENERGY CORP	27,488 (-51.0%)	$10.57M (-40.9%)	0.0%	—	—	COM	87422Q109
AA	ALCOA CORP	91,738 (-49.3%)	$4.782M (-60.2%)	0.0%	—	—	COM	013872106
WMT	WALMART INC	132,792 (-17.3%)	$15.04M (-24.7%)	0.1%	—	—	COM	931142103
MSFT	MICROSOFT CORP	21,800 (-36.6%)	$8.13M (-36.2%)	0.0%	—	—	CALL	594918104
DAL	DELTA AIR LINES INC	353,744 (-37.4%)	$33.13M (-11.8%)	0.1%	—	—	COM NEW	247361702
MU	MICRON TECHNOLOGY INC	53,644 (-72.2%)	$61.79M (-5.3%)	0.2%	—	—	COM	595112103
AMKR	AMKOR TECHNOLOGY INC	34,493 (-75.8%)	$2.973M (-53.7%)	0.0%	—	—	COM	031652100
TAC	TRANSALTA CORP	2,061,847 (-10.1%)	$28.49M (-5.3%)	0.1%	—	—	COM	89346D107
TSLA	TESLA INC	212,900 (-10.2%)	$89.51M (+1.5%)	0.3%	—	—	CALL	88160R101
XP	XP INC	220,146 (-4.8%)	$3.581M (-18.7%)	0.0%	—	—	CL A	G98239109
MP	MP MATERIALS CORP	477,535 (-13.2%)	$26.75M (+0.7%)	0.1%	—	—	COM CL A	553368101
ITT	ITT INC	68,257 (-4.6%)	$13.5M (-0.9%)	0.1%	—	—	COM	45073V108

Unchanged Positions (14)

TSLA TESLA INC 0.4%

Value $99.69M Shares 237,100 Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 0.1%

Value $15.18M Shares 21,000 Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 0.1%

Value $15.18M Shares 21,000 Est. Cost — Unrealized —

GEV GE VERNOVA INC 0.1%

Value $14.09M Shares 12,000 Est. Cost — Unrealized —

HOOD ROBINHOOD MKTS INC 0.0%

Value $8.023M Shares 80,000 Est. Cost — Unrealized —

HOOD ROBINHOOD MKTS INC 0.0%

Value $8.023M Shares 80,000 Est. Cost — Unrealized —

URI UNITED RENTALS INC 0.0%

Value $5.437M Shares 4,800 Est. Cost — Unrealized —

URI UNITED RENTALS INC 0.0%

Value $5.437M Shares 4,800 Est. Cost — Unrealized —

MP MP MATERIALS CORP 0.0%

Value $7.468M Shares 133,300 Est. Cost — Unrealized —

ORCL ORACLE CORP 0.9%

Value $243M Shares 1,656,800 Est. Cost — Unrealized —

ORCL ORACLE CORP 0.9%

Value $243M Shares 1,656,800 Est. Cost — Unrealized —

FWONA LIBERTY MEDIA CORP DEL 0.0%

Value $3.381M Shares 38,600 Est. Cost — Unrealized —

HTO H2O AMERICA 0.0%

Value $8.21M Shares 135,116 Est. Cost — Unrealized —

XLB SELECT SECTOR SPDR TR 0.1%

Value $15.76M Shares 310,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSLA	TESLA INC	237,100	$99.69M	0.4%	—	—	PUT	88160R101
AMAT	APPLIED MATLS INC	21,000	$15.18M	0.1%	—	—	PUT	038222105
AMAT	APPLIED MATLS INC	21,000	$15.18M	0.1%	—	—	CALL	038222105
GEV	GE VERNOVA INC	12,000	$14.09M	0.1%	—	—	PUT	36828A101
HOOD	ROBINHOOD MKTS INC	80,000	$8.023M	0.0%	—	—	PUT	770700102
HOOD	ROBINHOOD MKTS INC	80,000	$8.023M	0.0%	—	—	CALL	770700102
URI	UNITED RENTALS INC	4,800	$5.437M	0.0%	—	—	CALL	911363109
URI	UNITED RENTALS INC	4,800	$5.437M	0.0%	—	—	PUT	911363109
MP	MP MATERIALS CORP	133,300	$7.468M	0.0%	—	—	CALL	553368101
ORCL	ORACLE CORP	1,656,800	$243M	0.9%	—	—	CALL	68389X105
ORCL	ORACLE CORP	1,656,800	$243M	0.9%	—	—	PUT	68389X105
FWONA	LIBERTY MEDIA CORP DEL	38,600	$3.381M	0.0%	—	—	COM LBTY ONE S A	531229771
HTO	H2O AMERICA	135,116	$8.21M	0.0%	—	—	COM	784305104
XLB	SELECT SECTOR SPDR TR	310,000	$15.76M	0.1%	—	—	CALL	81369Y100