Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NSC	NORFOLK SOUTHN CORP	154,943	$44.47M	4.9%	$298.18	0.0%	COM	655844108
ASML	ASML HLDG NV	31,000	$40.95M	4.5%	$1069.86	—	CALL	N07059210
VZ	VERIZON COMMUNICATIONS INC	600,000	$30.12M	3.3%	—	—	PUT	92343V104
PATH	UIPATH INC	2,250,000	$24.98M	2.7%	$13.48	0.0%	CALL	90364P105
T	AT&T INC	600,000	$17.39M	1.9%	—	—	PUT	00206R102
GLW	CORNING INC	100,000	$13.6M	1.5%	$85.98	+29.9%	CALL	219350105
TSM	TAIWAN SEMICONDUCTOR MANUFAC	35,000	$11.83M	1.3%	$217.04	—	CALL	874039100
PFSI	PENNYMAC FINL SVCS INC NEW	123,496	$10.79M	1.2%	$119.59	0.0%	COM	70932M107
MU	MICRON TECHNOLOGY INC	30,000	$10.14M	1.1%	$387.04	0.0%	CALL	595112103
OMC	OMNICOM GROUP INC	120,000	$9.037M	1.0%	—	—	PUT	681919106
BMNR	BITMINE IMMERSION TECNOLOGIE	350,000	$6.923M	0.8%	$40.53	-37.3%	CALL	09175A206
VLTO	VERALTO CORP	74,410	$6.579M	0.7%	$97.50	0.0%	COM SHS	92338C103
HAL	HALLIBURTON CO	168,705	$6.578M	0.7%	$33.54	0.0%	COM	406216101
XLE	SELECT SECTOR SPDR TR	98,600	$6.04M	0.7%	$61.26	—	STATE STREET ENE	81369Y506
RAL	RALLIANT CORP	138,759	$5.771M	0.6%	$49.19	0.0%	COM	750940108
EWZ	ISHARES INC	150,000	$5.758M	0.6%	—	—	CALL	464286400
HAL	HALLIBURTON CO	121,400	$4.733M	0.5%	$33.54	0.0%	CALL	406216101
HLT	HILTON WORLDWIDE HLDGS INC	15,165	$4.611M	0.5%	$305.09	0.0%	COM	43300A203
TKO	TKO GROUP HOLDINGS INC	20,000	$4.033M	0.4%	$177.72	+15.7%	CALL	87256C101
WIX	WIX COM LTD	35,000	$3.152M	0.3%	$81.46	0.0%	SHS	M98068105
IR	INGERSOLL RAND INC	38,983	$3.123M	0.3%	$90.43	0.0%	COM	45687V106
LNG	CHENIERE ENERGY INC	10,000	$2.838M	0.3%	$234.37	-10.5%	CALL	16411R208
NFLX	NETFLIX INC.	25,000	$2.404M	0.3%	$83.84	0.0%	CALL	64110L106
MCHP	MICROCHIP TECHNOLOGY INC.	35,000	$2.261M	0.2%	—	—	CALL	595017104
DOW	DOW HLDGS INC	50,000	$2.083M	0.2%	$29.05	0.0%	PUT	260557103
FPS	FORGENT POWER SOLUTIONS INC	56,000	$1.639M	0.2%	$29.27	—	COM SHS CL A	34631F102
ZM	ZOOM COMMUNICATIONS INC	20,000	$1.608M	0.2%	—	—	CALL	98980L101
LITE	LUMENTUM HLDGS INC	2,050	$1.441M	0.2%	$467.14	0.0%	COM	55024U109
LNG	CHENIERE ENERGY INC	5,000	$1.419M	0.2%	$234.37	-10.5%	PUT	16411R208
TGT	TARGET CORP	11,500	$1.394M	0.2%	—	—	CALL	87612E106
MU	MICRON TECHNOLOGY INC	4,100	$1.385M	0.2%	$387.04	0.0%	COM	595112103
WMT	WALMART INC	10,104	$1.256M	0.1%	$122.03	0.0%	COM	931142103
BKR	BAKER HUGHES COMPANY	19,100	$1.166M	0.1%	$56.08	0.0%	CL A	05722G100
MDLN	MEDLINE INC	24,000	$1.068M	0.1%	$44.84	0.0%	COM CL A	58507V107
DOW	DOW HLDGS INC	25,300	$1.054M	0.1%	$29.05	0.0%	COM	260557103
AMD	ADVANCED MICRO DEVICES INC	4,900	$997K	0.1%	$221.70	0.0%	COM	007903107
VST	VISTRA CORP	6,200	$932K	0.1%	$163.18	0.0%	COM	92840M102
SMR	NUSCALE PWR CORP	84,600	$917K	0.1%	$17.26	0.0%	CL A COM	67079K100
SEI	SOLARIS ENERGY INFRAS INC	14,027	$793K	0.1%	$53.03	0.0%	COM CL A	83418M103
PINS	PINTEREST INC	40,000	$734K	0.1%	—	—	CALL	72352L106
CCL	CARNIVAL CORP	25,000	$647K	0.1%	—	—	CALL	143658300
SNDK	SANDISK CORP	834	$530K	0.1%	$516.50	0.0%	COM	80004C200
CLS	CELESTICA INC	1,858	$523K	0.1%	$300.95	0.0%	COM	15101Q207
FSLR	FIRST SOLAR INC	2,500	$493K	0.1%	—	—	CALL	336433107
UMAC	UNUSUAL MACHS INC	35,000	$434K	0.0%	—	—	CALL	91532F102
AXGN	AXOGEN INC	12,101	$401K	0.0%	$33.29	0.0%	COM	05463X106
BSY	BENTLEY SYS INC	10,000	$351K	0.0%	$36.12	0.0%	COM CL B	08265T208
EQPT	EQUIPMENTSHARE COM INC	15,381	$313K	0.0%	$20.37	—	COM CL A	29445S100
BWXT	BWX TECHNOLOGIES INC	1,500	$307K	0.0%	$202.99	0.0%	COM	05605H100
MRNA	MODERNA INC	6,000	$305K	0.0%	$42.94	0.0%	COM	60770K107
ONDS	ONDAS INC	30,000	$271K	0.0%	—	—	CALL	68236H204
AA	ALCOA CORP	4,000	$265K	0.0%	$61.09	0.0%	COM	013872106
GFS	GLOBALFOUNDRIES INC	5,000	$222K	0.0%	$43.59	0.0%	ORDINARY SHARES	G39387108
FRMI	FERMI INC	10,000	$58,400	0.0%	—	—	CALL	314911108
XLF	SELECT SECTOR SPDR TR	850	$41,965	0.0%	$49.37	—	STATE STREET FIN	81369Y605
PATH	UIPATH INC	1,714	$19,025	0.0%	$13.48	0.0%	CL A	90364P105
NFLX	NETFLIX INC.	30	$2,885	0.0%	$83.84	0.0%	COM	64110L106

Increased Positions (23)

UNP UNION PAC CORP 10.7%

Value $97.44M (+294.9%) Shares 401,618 (+276.5%) Est. Cost $238.54 Unrealized +2.0%

HYG ISHARES TR 10.5%

Value $95.47M (+136.8%) Shares 1,200,000 (+140.0%) Est. Cost — Unrealized —

BA BOEING CO 4.0%

Value $36.62M (+213.4%) Shares 184,004 (+241.9%) Est. Cost $230.61 Unrealized +3.4%

BA BOEING CO 4.0%

Value $36.92M (+129.8%) Shares 185,500 (+150.7%) Est. Cost $230.61 Unrealized +3.4%

IBIT ISHARES BITCOIN TRUST ETF 2.3%

Value $21.13M (+467.5%) Shares 550,000 (+633.3%) Est. Cost $52.89 Unrealized —

LYG LLOYDS BANKING GROUP PLC 1.1%

Value $10.07M (+533.5%) Shares 2,002,600 (+567.5%) Est. Cost $4.92 Unrealized —

SATS ECHOSTAR CORP 0.5%

Value $4.683M (+761.6%) Shares 40,000 (+700.0%) Est. Cost $109.07 Unrealized +6.7%

LYG LLOYDS BANKING GROUP PLC 0.5%

Value $4.585M (+493.3%) Shares 911,500 (+525.2%) Est. Cost $4.92 Unrealized —

SLB SLB LIMITED 0.3%

Value $2.877M (+836.9%) Shares 55,978 (+599.7%) Est. Cost $46.55 Unrealized +3.8%

AMAT APPLIED MATLS INC 0.6%

Value $5.379M (+89.5%) Shares 15,738 (+42.5%) Est. Cost $218.56 Unrealized +49.4%

TKO TKO GROUP HOLDINGS INC 0.6%

Value $5.063M (+89.2%) Shares 25,106 (+96.1%) Est. Cost $177.72 Unrealized +15.7%

SATS ECHOSTAR CORP 0.3%

Value $2.888M (+415.8%) Shares 24,666 (+379.0%) Est. Cost $109.07 Unrealized +6.7%

CAT CATERPILLAR INC 0.8%

Value $6.926M (+50.2%) Shares 9,776 (+21.4%) Est. Cost $522.36 Unrealized +31.0%

XLV SELECT SECTOR SPDR TR 0.9%

Value $7.967M (+24.3%) Shares 54,342 (+31.3%) Est. Cost $152.85 Unrealized —

SPHR SPHERE ENTERTAINMENT CO 0.3%

Value $2.352M (+171.5%) Shares 20,034 (+119.9%) Est. Cost $89.14 Unrealized +12.1%

TKO TKO GROUP HOLDINGS INC 0.3%

Value $3.186M (+52.4%) Shares 15,800 (+58.0%) Est. Cost $177.72 Unrealized +15.7%

LYV LIVE NATION ENTERTAINMENT IN 0.4%

Value $3.735M (+25.1%) Shares 24,492 (+16.9%) Est. Cost $117.33 Unrealized +26.4%

GE GE AEROSPACE 0.2%

Value $2.072M (+56.2%) Shares 7,303 (+69.5%) Est. Cost $245.95 Unrealized +29.4%

FWONA LIBERTY MEDIA CORP DEL 0.4%

Value $4.032M (-11.4%) Shares 51,642 (+1.5%) Est. Cost $67.69 Unrealized —

FWONK LIBERTY MEDIA CORP DEL 1.2%

Value $11.07M (-3.6%) Shares 130,175 (+11.7%) Est. Cost $98.48 Unrealized —

AVR ANTERIS TECHNOLOGIES GLOBAL 0.1%

Value $1.015M (+28.4%) Shares 182,837 (+15.5%) Est. Cost $5.19 Unrealized +7.6%

MRVI MARAVAI LIFESCIENCES HLDGS I 0.1%

Value $1.018M (+20.9%) Shares 359,561 (+38.8%) Est. Cost $4.08 Unrealized -15.1%

XLC SELECT SECTOR SPDR TR 0.2%

Value $1.916M (+1.1%) Shares 17,279 (+7.3%) Est. Cost $117.25 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNP	UNION PAC CORP	401,618 (+276.5%)	$97.44M (+294.9%)	10.7%	$238.54	+2.0%	COM	907818108
HYG	ISHARES TR	1,200,000 (+140.0%)	$95.47M (+136.8%)	10.5%	—	—	PUT	464288513
BA	BOEING CO	184,004 (+241.9%)	$36.62M (+213.4%)	4.0%	$230.61	+3.4%	COM	097023105
BA	BOEING CO	185,500 (+150.7%)	$36.92M (+129.8%)	4.0%	$230.61	+3.4%	CALL	097023105
IBIT	ISHARES BITCOIN TRUST ETF	550,000 (+633.3%)	$21.13M (+467.5%)	2.3%	$52.89	—	CALL	46438F101
LYG	LLOYDS BANKING GROUP PLC	2,002,600 (+567.5%)	$10.07M (+533.5%)	1.1%	$4.92	—	CALL	539439109
SATS	ECHOSTAR CORP	40,000 (+700.0%)	$4.683M (+761.6%)	0.5%	$109.07	+6.7%	CALL	278768106
LYG	LLOYDS BANKING GROUP PLC	911,500 (+525.2%)	$4.585M (+493.3%)	0.5%	$4.92	—	SPONSORED ADR	539439109
SLB	SLB LIMITED	55,978 (+599.7%)	$2.877M (+836.9%)	0.3%	$46.55	+3.8%	COM STK	806857108
AMAT	APPLIED MATLS INC	15,738 (+42.5%)	$5.379M (+89.5%)	0.6%	$218.56	+49.4%	COM	038222105
TKO	TKO GROUP HOLDINGS INC	25,106 (+96.1%)	$5.063M (+89.2%)	0.6%	$177.72	+15.7%	CL A	87256C101
SATS	ECHOSTAR CORP	24,666 (+379.0%)	$2.888M (+415.8%)	0.3%	$109.07	+6.7%	CL A	278768106
CAT	CATERPILLAR INC	9,776 (+21.4%)	$6.926M (+50.2%)	0.8%	$522.36	+31.0%	COM	149123101
XLV	SELECT SECTOR SPDR TR	54,342 (+31.3%)	$7.967M (+24.3%)	0.9%	$152.85	—	STATE STREET HEA	81369Y209
SPHR	SPHERE ENTERTAINMENT CO	20,034 (+119.9%)	$2.352M (+171.5%)	0.3%	$89.14	+12.1%	CL A	55826T102
TKO	TKO GROUP HOLDINGS INC	15,800 (+58.0%)	$3.186M (+52.4%)	0.3%	$177.72	+15.7%	PUT	87256C101
LYV	LIVE NATION ENTERTAINMENT IN	24,492 (+16.9%)	$3.735M (+25.1%)	0.4%	$117.33	+26.4%	COM	538034109
GE	GE AEROSPACE	7,303 (+69.5%)	$2.072M (+56.2%)	0.2%	$245.95	+29.4%	COM NEW	369604301
FWONA	LIBERTY MEDIA CORP DEL	51,642 (+1.5%)	$4.032M (-11.4%)	0.4%	$67.69	—	COM LBTY ONE S A	531229771
FWONK	LIBERTY MEDIA CORP DEL	130,175 (+11.7%)	$11.07M (-3.6%)	1.2%	$98.48	—	COM LBTY ONE S C	531229755
AVR	ANTERIS TECHNOLOGIES GLOBAL	182,837 (+15.5%)	$1.015M (+28.4%)	0.1%	$5.19	+7.6%	COM	03675P102
MRVI	MARAVAI LIFESCIENCES HLDGS I	359,561 (+38.8%)	$1.018M (+20.9%)	0.1%	$4.08	-15.1%	COM CL A	56600D107
XLC	SELECT SECTOR SPDR TR	17,279 (+7.3%)	$1.916M (+1.1%)	0.2%	$117.25	—	STATE STREET COM	81369Y852

Exited Positions (83)

SLV ISHARES SILVER TR 13.5%

Value $123M Shares 1,913,300 Est. Cost — Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 10.4%

Value $94.69M Shares 1,907,097 Est. Cost $52.89 Unrealized —

AVGO BROADCOM INC 4.4%

Value $39.8M Shares 115,000 Est. Cost $293.23 Unrealized +14.0%

AVGO BROADCOM INC 3.5%

Value $31.72M Shares 91,655 Est. Cost $293.23 Unrealized +14.0%

GOOGL ALPHABET INC 2.7%

Value $25.04M Shares 80,000 Est. Cost $166.03 Unrealized +94.7%

KWEB KRANESHARES TRUST 2.2%

Value $20.43M Shares 600,000 Est. Cost — Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 1.4%

Value $12.78M Shares 22,000 Est. Cost $622.82 Unrealized -20.2%

TDG TRANSDIGM GROUP INC 1.2%

Value $11M Shares 8,273 Est. Cost $1240.52 Unrealized +9.8%

EQT EQT CORP 1.1%

Value $9.92M Shares 185,080 Est. Cost $56.13 Unrealized -1.5%

AVGO BROADCOM INC 1.1%

Value $9.691M Shares 28,000 Est. Cost $293.23 Unrealized +14.0%

SBUX STARBUCKS CORP 1.0%

Value $9.019M Shares 107,100 Est. Cost — Unrealized —

EQT EQT CORP 0.9%

Value $8.04M Shares 150,000 Est. Cost $56.13 Unrealized -1.5%

RACE FERRARI N V 0.8%

Value $7.391M Shares 20,000 Est. Cost $468.92 Unrealized -24.0%

RACE FERRARI N V 0.8%

Value $7.391M Shares 20,000 Est. Cost $468.92 Unrealized -24.0%

AMZN AMAZON COM INC 0.8%

Value $6.925M Shares 30,000 Est. Cost $184.91 Unrealized +22.7%

SPY SPDR S&P 500 ETF TR 0.7%

Value $6.819M Shares 10,000 Est. Cost $681.92 Unrealized —

MELI MERCADOLIBRE INC 0.7%

Value $6.043M Shares 3,000 Est. Cost $2152.64 Unrealized -4.0%

GOOGL ALPHABET INC 0.6%

Value $5.289M Shares 16,897 Est. Cost $166.03 Unrealized +94.7%

UBS UBS GROUP AG 0.6%

Value $5.159M Shares 111,400 Est. Cost $40.40 Unrealized +12.8%

SPY SPDR S&P 500 ETF TR 0.6%

Value $5.047M Shares 7,401 Est. Cost $681.92 Unrealized —

SAP SAP SE 0.5%

Value $4.858M Shares 20,000 Est. Cost $242.91 Unrealized —

SAP SAP SE 0.5%

Value $4.858M Shares 20,000 Est. Cost $242.91 Unrealized —

BBVA BANCO BILBAO VIZCAYA ARGENTA 0.5%

Value $4.662M Shares 200,000 Est. Cost $19.25 Unrealized —

LNC LINCOLN NATL CORP IND 0.5%

Value $4.453M Shares 100,000 Est. Cost — Unrealized —

MTZ MASTEC INC 0.5%

Value $4.231M Shares 19,463 Est. Cost $209.86 Unrealized +19.2%

MELI MERCADOLIBRE INC 0.4%

Value $4.029M Shares 2,000 Est. Cost $2152.64 Unrealized -4.0%

TSCO TRACTOR SUPPLY CO 0.4%

Value $4.001M Shares 80,000 Est. Cost — Unrealized —

MELI MERCADOLIBRE INC 0.4%

Value $3.938M Shares 1,955 Est. Cost $2152.64 Unrealized -4.0%

CCL CARNIVAL CORP 0.4%

Value $3.665M Shares 120,000 Est. Cost — Unrealized —

KLAC KLA CORP 0.4%

Value $3.645M Shares 3,000 Est. Cost — Unrealized —

PWR QUANTA SVCS INC 0.4%

Value $3.632M Shares 8,605 Est. Cost $439.27 Unrealized +10.7%

MYRG MYR GROUP INC DEL 0.4%

Value $3.577M Shares 16,371 Est. Cost $217.65 Unrealized +16.7%

META META PLATFORMS INC 0.4%

Value $3.512M Shares 5,321 Est. Cost $651.72 Unrealized +0.6%

POOL POOL CORP 0.4%

Value $3.454M Shares 15,100 Est. Cost — Unrealized —

ITRI ITRON INC 0.4%

Value $3.334M Shares 35,908 Est. Cost $108.94 Unrealized -9.4%

URI UNITED RENTALS INC 0.4%

Value $3.302M Shares 4,080 Est. Cost $867.08 Unrealized +1.8%

ETN EATON CORP PLC 0.4%

Value $3.249M Shares 10,201 Est. Cost $354.39 Unrealized -0.2%

FIG FIGMA INC 0.3%

Value $2.99M Shares 80,000 Est. Cost $48.12 Unrealized -41.0%

CRCL CIRCLE INTERNET GROUP INC 0.3%

Value $2.934M Shares 37,000 Est. Cost $103.35 Unrealized -32.5%

DE DEERE & CO 0.3%

Value $2.887M Shares 6,200 Est. Cost $456.43 Unrealized +20.8%

WBD WARNER BROS DISCOVERY INC 0.3%

Value $2.882M Shares 100,000 Est. Cost — Unrealized —

AR ANTERO RESOURCES CORP 0.3%

Value $2.817M Shares 81,739 Est. Cost $33.87 Unrealized -0.2%

GOOG ALPHABET INC 0.3%

Value $2.51M Shares 8,000 Est. Cost $209.93 Unrealized +54.2%

AAPL APPLE INC 0.3%

Value $2.42M Shares 8,900 Est. Cost $197.16 Unrealized +33.3%

INTC INTEL CORP 0.3%

Value $2.398M Shares 65,000 Est. Cost $24.23 Unrealized +91.6%

TSLA TESLA INC 0.2%

Value $2.15M Shares 4,780 Est. Cost $346.84 Unrealized +22.8%

TTAN SERVICETITAN INC 0.2%

Value $2.13M Shares 20,000 Est. Cost $97.68 Unrealized -17.3%

SRAD SPORTRADAR GROUP AG 0.2%

Value $2.044M Shares 86,000 Est. Cost $23.77 Unrealized —

WAY WAYSTAR HLDG CORP 0.2%

Value $2.03M Shares 62,000 Est. Cost $36.44 Unrealized -24.5%

SARO STANDARDAERO INC 0.2%

Value $2.008M Shares 70,000 Est. Cost $27.23 Unrealized +14.9%

SOLV SOLVENTUM CORP 0.2%

Value $1.981M Shares 25,000 Est. Cost $76.59 Unrealized +2.3%

LNG CHENIERE ENERGY INC 0.2%

Value $1.978M Shares 10,176 Est. Cost $234.37 Unrealized -10.5%

SNOW SNOWFLAKE INC 0.2%

Value $1.47M Shares 6,700 Est. Cost $244.09 Unrealized -20.3%

MLM MARTIN MARIETTA MATLS INC 0.2%

Value $1.469M Shares 2,360 Est. Cost $594.66 Unrealized +11.2%

UMC UNITED MICROELECTRONICS CORP 0.2%

Value $1.461M Shares 185,900 Est. Cost — Unrealized —

EVR EVERCORE INC 0.2%

Value $1.456M Shares 4,280 Est. Cost $320.89 Unrealized +9.7%

VMC VULCAN MATLS CO 0.2%

Value $1.449M Shares 5,080 Est. Cost $254.30 Unrealized +20.6%

CWAN CLEARWATER ANALYTICS HLDGS I 0.1%

Value $1.329M Shares 55,100 Est. Cost — Unrealized —

MTN VAIL RESORTS INC 0.1%

Value $1.328M Shares 10,000 Est. Cost $153.87 Unrealized -10.4%

META META PLATFORMS INC 0.1%

Value $1.32M Shares 2,000 Est. Cost $651.72 Unrealized +0.6%

BETA BETA TECHNOLOGIES INC 0.1%

Value $1.269M Shares 45,000 Est. Cost $29.84 Unrealized -24.3%

MAR MARRIOTT INTL INC NEW 0.1%

Value $1.045M Shares 3,369 Est. Cost $256.41 Unrealized +29.0%

HD HOME DEPOT INC 0.1%

Value $1.032M Shares 3,000 Est. Cost $364.59 Unrealized +3.4%

NIQ NIQ GLOBAL INTELLIGENCE PLC 0.1%

Value $1.022M Shares 62,000 Est. Cost $14.64 Unrealized -0.6%

CTRI CENTURI HOLDINGS INC 0.1%

Value $1.01M Shares 40,000 Est. Cost $22.36 Unrealized +28.4%

MIAX MIAMI INTL HLDGS INC 0.1%

Value $976K Shares 22,000 Est. Cost $44.60 Unrealized -5.8%

LI LI AUTO INC 0.1%

Value $971K Shares 57,340 Est. Cost $16.93 Unrealized —

FER FERROVIAL SE 0.1%

Value $963K Shares 14,900 Est. Cost $63.68 Unrealized +9.2%

STAA STAAR SURGICAL CO 0.1%

Value $924K Shares 40,000 Est. Cost $25.77 Unrealized -24.5%

NIO NIO INC 0.1%

Value $841K Shares 164,888 Est. Cost $7.62 Unrealized —

EXE EXPAND ENERGY CORPORATION 0.1%

Value $828K Shares 7,500 Est. Cost — Unrealized —

STUB STUBHUB HLDGS INC 0.1%

Value $812K Shares 60,000 Est. Cost — Unrealized —

SGML SIGMA LITHIUM CORPORATION 0.1%

Value $790K Shares 59,900 Est. Cost $8.61 Unrealized +56.2%

AAOI APPLIED OPTOELECTRONICS INC 0.1%

Value $697K Shares 20,000 Est. Cost — Unrealized —

ORCL ORACLE CORP 0.1%

Value $585K Shares 3,000 Est. Cost $200.30 Unrealized -15.3%

GEV GE VERNOVA INC 0.1%

Value $523K Shares 800 Est. Cost $455.70 Unrealized +61.7%

TROX TRONOX HOLDINGS PLC 0.1%

Value $521K Shares 125,000 Est. Cost — Unrealized —

WIX WIX COM LTD 0.1%

Value $519K Shares 5,000 Est. Cost $81.46 Unrealized 0.0%

UHAL/B U HAUL HOLDING COMPANY 0.0%

Value $421K Shares 9,000 Est. Cost $53.26 Unrealized -7.1%

LGN LEGENCE CORP 0.0%

Value $420K Shares 9,750 Est. Cost $32.92 Unrealized +48.3%

AMTM AMENTUM HOLDINGS INC 0.0%

Value $290K Shares 10,000 Est. Cost $25.56 Unrealized +30.9%

NP NEPTUNE INS HLDGS INC 0.0%

Value $204K Shares 7,000 Est. Cost $26.30 Unrealized -8.7%

WLTH WEALTHFRONT CORP 0.0%

Value $190K Shares 14,000 Est. Cost $13.20 Unrealized -27.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SLV	ISHARES SILVER TR	1,913,300	$123M	13.5%	—	—	CALL	46428Q109
IBIT	ISHARES BITCOIN TRUST ETF	1,907,097	$94.69M	10.4%	$52.89	—	—	46438F101
AVGO	BROADCOM INC	115,000	$39.8M	4.4%	$293.23	+14.0%	CALL	11135F101
AVGO	BROADCOM INC	91,655	$31.72M	3.5%	$293.23	+14.0%	—	11135F101
GOOGL	ALPHABET INC	80,000	$25.04M	2.7%	$166.03	+94.7%	CALL	02079K305
KWEB	KRANESHARES TRUST	600,000	$20.43M	2.2%	—	—	CALL	500767306
SPOT	SPOTIFY TECHNOLOGY S A	22,000	$12.78M	1.4%	$622.82	-20.2%	PUT	L8681T102
TDG	TRANSDIGM GROUP INC	8,273	$11M	1.2%	$1240.52	+9.8%	—	893641100
EQT	EQT CORP	185,080	$9.92M	1.1%	$56.13	-1.5%	—	26884L109
AVGO	BROADCOM INC	28,000	$9.691M	1.1%	$293.23	+14.0%	PUT	11135F101
SBUX	STARBUCKS CORP	107,100	$9.019M	1.0%	—	—	CALL	855244109
EQT	EQT CORP	150,000	$8.04M	0.9%	$56.13	-1.5%	CALL	26884L109
RACE	FERRARI N V	20,000	$7.391M	0.8%	$468.92	-24.0%	—	N3167Y103
RACE	FERRARI N V	20,000	$7.391M	0.8%	$468.92	-24.0%	PUT	N3167Y103
AMZN	AMAZON COM INC	30,000	$6.925M	0.8%	$184.91	+22.7%	CALL	023135106
SPY	SPDR S&P 500 ETF TR	10,000	$6.819M	0.7%	$681.92	—	PUT	78462F103
MELI	MERCADOLIBRE INC	3,000	$6.043M	0.7%	$2152.64	-4.0%	PUT	58733R102
GOOGL	ALPHABET INC	16,897	$5.289M	0.6%	$166.03	+94.7%	—	02079K305
UBS	UBS GROUP AG	111,400	$5.159M	0.6%	$40.40	+12.8%	—	H42097107
SPY	SPDR S&P 500 ETF TR	7,401	$5.047M	0.6%	$681.92	—	—	78462F103
SAP	SAP SE	20,000	$4.858M	0.5%	$242.91	—	—	803054204
SAP	SAP SE	20,000	$4.858M	0.5%	$242.91	—	PUT	803054204
BBVA	BANCO BILBAO VIZCAYA ARGENTA	200,000	$4.662M	0.5%	$19.25	—	CALL	05946K101
LNC	LINCOLN NATL CORP IND	100,000	$4.453M	0.5%	—	—	PUT	534187109
MTZ	MASTEC INC	19,463	$4.231M	0.5%	$209.86	+19.2%	—	576323109
MELI	MERCADOLIBRE INC	2,000	$4.029M	0.4%	$2152.64	-4.0%	CALL	58733R102
TSCO	TRACTOR SUPPLY CO	80,000	$4.001M	0.4%	—	—	CALL	892356106
MELI	MERCADOLIBRE INC	1,955	$3.938M	0.4%	$2152.64	-4.0%	—	58733R102
CCL	CARNIVAL CORP	120,000	$3.665M	0.4%	—	—	PUT	143658300
KLAC	KLA CORP	3,000	$3.645M	0.4%	—	—	CALL	482480100
PWR	QUANTA SVCS INC	8,605	$3.632M	0.4%	$439.27	+10.7%	—	74762E102
MYRG	MYR GROUP INC DEL	16,371	$3.577M	0.4%	$217.65	+16.7%	—	55405W104
META	META PLATFORMS INC	5,321	$3.512M	0.4%	$651.72	+0.6%	—	30303M102
POOL	POOL CORP	15,100	$3.454M	0.4%	—	—	CALL	73278L105
ITRI	ITRON INC	35,908	$3.334M	0.4%	$108.94	-9.4%	—	465741106
URI	UNITED RENTALS INC	4,080	$3.302M	0.4%	$867.08	+1.8%	—	911363109
ETN	EATON CORP PLC	10,201	$3.249M	0.4%	$354.39	-0.2%	—	G29183103
FIG	FIGMA INC	80,000	$2.99M	0.3%	$48.12	-41.0%	—	316841105
CRCL	CIRCLE INTERNET GROUP INC	37,000	$2.934M	0.3%	$103.35	-32.5%	—	172573107
DE	DEERE & CO	6,200	$2.887M	0.3%	$456.43	+20.8%	—	244199105
WBD	WARNER BROS DISCOVERY INC	100,000	$2.882M	0.3%	—	—	CALL	934423104
AR	ANTERO RESOURCES CORP	81,739	$2.817M	0.3%	$33.87	-0.2%	—	03674X106
GOOG	ALPHABET INC	8,000	$2.51M	0.3%	$209.93	+54.2%	—	02079K107
AAPL	APPLE INC	8,900	$2.42M	0.3%	$197.16	+33.3%	—	037833100
INTC	INTEL CORP	65,000	$2.398M	0.3%	$24.23	+91.6%	CALL	458140100
TSLA	TESLA INC	4,780	$2.15M	0.2%	$346.84	+22.8%	—	88160R101
TTAN	SERVICETITAN INC	20,000	$2.13M	0.2%	$97.68	-17.3%	—	81764X103
SRAD	SPORTRADAR GROUP AG	86,000	$2.044M	0.2%	$23.77	—	—	H8088L103
WAY	WAYSTAR HLDG CORP	62,000	$2.03M	0.2%	$36.44	-24.5%	—	946784105
SARO	STANDARDAERO INC	70,000	$2.008M	0.2%	$27.23	+14.9%	—	85423L103
SOLV	SOLVENTUM CORP	25,000	$1.981M	0.2%	$76.59	+2.3%	—	83444M101
LNG	CHENIERE ENERGY INC	10,176	$1.978M	0.2%	$234.37	-10.5%	—	16411R208
SNOW	SNOWFLAKE INC	6,700	$1.47M	0.2%	$244.09	-20.3%	—	833445109
MLM	MARTIN MARIETTA MATLS INC	2,360	$1.469M	0.2%	$594.66	+11.2%	—	573284106
UMC	UNITED MICROELECTRONICS CORP	185,900	$1.461M	0.2%	—	—	CALL	910873405
EVR	EVERCORE INC	4,280	$1.456M	0.2%	$320.89	+9.7%	—	29977A105
VMC	VULCAN MATLS CO	5,080	$1.449M	0.2%	$254.30	+20.6%	—	929160109
CWAN	CLEARWATER ANALYTICS HLDGS I	55,100	$1.329M	0.1%	—	—	CALL	185123106
MTN	VAIL RESORTS INC	10,000	$1.328M	0.1%	$153.87	-10.4%	PUT	91879Q109
META	META PLATFORMS INC	2,000	$1.32M	0.1%	$651.72	+0.6%	CALL	30303M102
BETA	BETA TECHNOLOGIES INC	45,000	$1.269M	0.1%	$29.84	-24.3%	—	086921103
MAR	MARRIOTT INTL INC NEW	3,369	$1.045M	0.1%	$256.41	+29.0%	—	571903202
HD	HOME DEPOT INC	3,000	$1.032M	0.1%	$364.59	+3.4%	—	437076102
NIQ	NIQ GLOBAL INTELLIGENCE PLC	62,000	$1.022M	0.1%	$14.64	-0.6%	—	G63755105
CTRI	CENTURI HOLDINGS INC	40,000	$1.01M	0.1%	$22.36	+28.4%	—	155923105
MIAX	MIAMI INTL HLDGS INC	22,000	$976K	0.1%	$44.60	-5.8%	—	59356Q108
LI	LI AUTO INC	57,340	$971K	0.1%	$16.93	—	—	50202M102
FER	FERROVIAL SE	14,900	$963K	0.1%	$63.68	+9.2%	—	N3168P101
STAA	STAAR SURGICAL CO	40,000	$924K	0.1%	$25.77	-24.5%	—	852312305
NIO	NIO INC	164,888	$841K	0.1%	$7.62	—	—	62914V106
EXE	EXPAND ENERGY CORPORATION	7,500	$828K	0.1%	—	—	CALL	165167735
STUB	STUBHUB HLDGS INC	60,000	$812K	0.1%	—	—	CALL	86384P109
SGML	SIGMA LITHIUM CORPORATION	59,900	$790K	0.1%	$8.61	+56.2%	—	826599102
AAOI	APPLIED OPTOELECTRONICS INC	20,000	$697K	0.1%	—	—	CALL	03823U102
ORCL	ORACLE CORP	3,000	$585K	0.1%	$200.30	-15.3%	—	68389X105
GEV	GE VERNOVA INC	800	$523K	0.1%	$455.70	+61.7%	CALL	36828A101
TROX	TRONOX HOLDINGS PLC	125,000	$521K	0.1%	—	—	CALL	G9087Q102
WIX	WIX COM LTD	5,000	$519K	0.1%	$81.46	0.0%	CALL	M98068105
UHAL/B	U HAUL HOLDING COMPANY	9,000	$421K	0.0%	$53.26	-7.1%	—	023586506
LGN	LEGENCE CORP	9,750	$420K	0.0%	$32.92	+48.3%	—	52476L109
AMTM	AMENTUM HOLDINGS INC	10,000	$290K	0.0%	$25.56	+30.9%	—	023939101
NP	NEPTUNE INS HLDGS INC	7,000	$204K	0.0%	$26.30	-8.7%	—	64073B103
WLTH	WEALTHFRONT CORP	14,000	$190K	0.0%	$13.20	-27.4%	—	947002101

Decreased Positions (37)

SPOT SPOTIFY TECHNOLOGY S A 0.3%

Value $3.094M (-82.9%) Shares 6,380 (-79.5%) Est. Cost $622.82 Unrealized -20.2%

MSFT MICROSOFT CORP 1.0%

Value $9.254M (-61.7%) Shares 25,000 (-50.0%) Est. Cost $430.96 Unrealized +0.8%

NVDA NVIDIA CORPORATION 0.8%

Value $6.976M (-68.0%) Shares 40,000 (-65.8%) Est. Cost $140.37 Unrealized +33.0%

AMZN AMAZON COM INC 1.6%

Value $14.41M (-49.9%) Shares 69,178 (-44.5%) Est. Cost $184.91 Unrealized +22.7%

MSFT MICROSOFT CORP 1.0%

Value $9.255M (-58.4%) Shares 25,001 (-45.6%) Est. Cost $430.96 Unrealized +0.8%

AMZN AMAZON COM INC 1.1%

Value $10.41M (-54.9%) Shares 50,000 (-50.0%) Est. Cost $184.91 Unrealized +22.7%

BABA ALIBABA GROUP HLDG LTD 0.8%

Value $7.528M (-61.7%) Shares 60,000 (-55.2%) Est. Cost $156.18 Unrealized —

FWONK LIBERTY MEDIA CORP DEL 0.6%

Value $5.807M (-65.0%) Shares 68,300 (-59.4%) Est. Cost $98.48 Unrealized —

UNP UNION PAC CORP 0.5%

Value $4.852M (-58.0%) Shares 20,000 (-60.0%) Est. Cost $238.54 Unrealized +2.0%

TSM TAIWAN SEMICONDUCTOR MANUFAC 1.6%

Value $14.87M (-30.1%) Shares 44,000 (-37.1%) Est. Cost $217.04 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 1.6%

Value $14.87M (-30.1%) Shares 44,000 (-37.1%) Est. Cost $217.04 Unrealized —

NVDA NVIDIA CORPORATION 1.0%

Value $8.72M (-41.6%) Shares 50,000 (-37.5%) Est. Cost $140.37 Unrealized +33.0%

GLW CORNING INC 0.3%

Value $2.89M (-67.0%) Shares 21,258 (-78.7%) Est. Cost $85.98 Unrealized +29.9%

LYV LIVE NATION ENTERTAINMENT IN 0.3%

Value $3.05M (-64.3%) Shares 20,000 (-66.7%) Est. Cost $117.33 Unrealized +26.4%

NXPI NXP SEMICONDUCTORS N V 0.3%

Value $2.559M (-68.1%) Shares 13,000 (-64.9%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 0.8%

Value $6.993M (-42.3%) Shares 40,100 (-38.3%) Est. Cost $140.37 Unrealized +33.0%

BABA ALIBABA GROUP HLDG LTD 1.1%

Value $10.04M (-31.5%) Shares 80,000 (-20.0%) Est. Cost $156.18 Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.7%

Value $6.273M (-38.9%) Shares 50,000 (-28.6%) Est. Cost $156.18 Unrealized —

FWONK LIBERTY MEDIA CORP DEL 1.0%

Value $9.352M (-27.0%) Shares 110,000 (-15.4%) Est. Cost $98.48 Unrealized —

GLW CORNING INC 0.6%

Value $5.439M (-37.9%) Shares 40,000 (-60.0%) Est. Cost $85.98 Unrealized +29.9%

MTN VAIL RESORTS INC 0.1%

Value $1.174M (-73.5%) Shares 9,146 (-72.6%) Est. Cost $153.87 Unrealized -10.4%

BBVA BANCO BILBAO VIZCAYA ARGENTA 0.1%

Value $1.083M (-72.9%) Shares 50,000 (-70.9%) Est. Cost $19.25 Unrealized —

UBER UBER TECHNOLOGIES INC 1.0%

Value $9.351M (-23.7%) Shares 130,000 (-13.3%) Est. Cost $89.46 Unrealized -12.0%

DJT TRUMP MEDIA & TECHNOLOGY GRO 0.1%

Value $928K (-72.0%) Shares 100,000 (-60.0%) Est. Cost — Unrealized —

UBER UBER TECHNOLOGIES INC 1.5%

Value $13.98M (-13.9%) Shares 194,407 (-2.2%) Est. Cost $89.46 Unrealized -12.0%

QCOM QUALCOMM INC 0.3%

Value $2.318M (-43.5%) Shares 18,000 (-25.0%) Est. Cost — Unrealized —

GEV GE VERNOVA INC 0.6%

Value $5.659M (-19.2%) Shares 6,483 (-39.5%) Est. Cost $455.70 Unrealized +61.7%

XLY SELECT SECTOR SPDR TR 0.4%

Value $3.211M (-24.7%) Shares 29,460 (-17.5%) Est. Cost $119.41 Unrealized —

COHR COHERENT CORP 0.1%

Value $881K (-50.8%) Shares 3,700 (-61.9%) Est. Cost $99.69 Unrealized +114.0%

XLK SELECT SECTOR SPDR TR 0.7%

Value $6.758M (-9.8%) Shares 50,852 (-2.3%) Est. Cost $143.97 Unrealized —

ASML ASML HLDG NV 1.1%

Value $10.5M (-6.4%) Shares 7,947 (-24.2%) Est. Cost $1069.86 Unrealized —

ASML ASML HLDG NV 0.9%

Value $7.925M (-7.4%) Shares 6,000 (-25.0%) Est. Cost $1069.86 Unrealized —

NAVN NAVAN INC 0.1%

Value $477K (-45.3%) Shares 36,000 (-29.4%) Est. Cost $15.89 Unrealized -18.3%

BMNR BITMINE IMMERSION TECNOLOGIE 0.0%

Value $5,954 (-97.1%) Shares 301 (-96.0%) Est. Cost $40.53 Unrealized -37.3%

MU MICRON TECHNOLOGY INC 0.5%

Value $4.122M (-3.7%) Shares 12,200 (-18.7%) Est. Cost $387.04 Unrealized 0.0%

PTRN PATTERN GROUP INC 0.0%

Value $174K (-40.9%) Shares 14,000 (-45.1%) Est. Cost $13.94 Unrealized -8.6%

INTC INTEL CORP 0.1%

Value $557K (+0.6%) Shares 12,613 (-15.9%) Est. Cost $24.23 Unrealized +91.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPOT	SPOTIFY TECHNOLOGY S A	6,380 (-79.5%)	$3.094M (-82.9%)	0.3%	$622.82	-20.2%	SHS	L8681T102
MSFT	MICROSOFT CORP	25,000 (-50.0%)	$9.254M (-61.7%)	1.0%	$430.96	+0.8%	PUT	594918104
NVDA	NVIDIA CORPORATION	40,000 (-65.8%)	$6.976M (-68.0%)	0.8%	$140.37	+33.0%	COM	67066G104
AMZN	AMAZON COM INC	69,178 (-44.5%)	$14.41M (-49.9%)	1.6%	$184.91	+22.7%	COM	023135106
MSFT	MICROSOFT CORP	25,001 (-45.6%)	$9.255M (-58.4%)	1.0%	$430.96	+0.8%	COM	594918104
AMZN	AMAZON COM INC	50,000 (-50.0%)	$10.41M (-54.9%)	1.1%	$184.91	+22.7%	PUT	023135106
BABA	ALIBABA GROUP HLDG LTD	60,000 (-55.2%)	$7.528M (-61.7%)	0.8%	$156.18	—	SPONSORED ADS	01609W102
FWONK	LIBERTY MEDIA CORP DEL	68,300 (-59.4%)	$5.807M (-65.0%)	0.6%	$98.48	—	CALL	531229755
UNP	UNION PAC CORP	20,000 (-60.0%)	$4.852M (-58.0%)	0.5%	$238.54	+2.0%	CALL	907818108
TSM	TAIWAN SEMICONDUCTOR MANUFAC	44,000 (-37.1%)	$14.87M (-30.1%)	1.6%	$217.04	—	SPONSORED ADS	874039100
TSM	TAIWAN SEMICONDUCTOR MANUFAC	44,000 (-37.1%)	$14.87M (-30.1%)	1.6%	$217.04	—	PUT	874039100
NVDA	NVIDIA CORPORATION	50,000 (-37.5%)	$8.72M (-41.6%)	1.0%	$140.37	+33.0%	PUT	67066G104
GLW	CORNING INC	21,258 (-78.7%)	$2.89M (-67.0%)	0.3%	$85.98	+29.9%	COM	219350105
LYV	LIVE NATION ENTERTAINMENT IN	20,000 (-66.7%)	$3.05M (-64.3%)	0.3%	$117.33	+26.4%	CALL	538034109
NXPI	NXP SEMICONDUCTORS N V	13,000 (-64.9%)	$2.559M (-68.1%)	0.3%	—	—	CALL	N6596X109
NVDA	NVIDIA CORPORATION	40,100 (-38.3%)	$6.993M (-42.3%)	0.8%	$140.37	+33.0%	CALL	67066G104
BABA	ALIBABA GROUP HLDG LTD	80,000 (-20.0%)	$10.04M (-31.5%)	1.1%	$156.18	—	CALL	01609W102
BABA	ALIBABA GROUP HLDG LTD	50,000 (-28.6%)	$6.273M (-38.9%)	0.7%	$156.18	—	PUT	01609W102
FWONK	LIBERTY MEDIA CORP DEL	110,000 (-15.4%)	$9.352M (-27.0%)	1.0%	$98.48	—	PUT	531229755
GLW	CORNING INC	40,000 (-60.0%)	$5.439M (-37.9%)	0.6%	$85.98	+29.9%	PUT	219350105
MTN	VAIL RESORTS INC	9,146 (-72.6%)	$1.174M (-73.5%)	0.1%	$153.87	-10.4%	COM	91879Q109
BBVA	BANCO BILBAO VIZCAYA ARGENTA	50,000 (-70.9%)	$1.083M (-72.9%)	0.1%	$19.25	—	SPONSORED ADR	05946K101
UBER	UBER TECHNOLOGIES INC	130,000 (-13.3%)	$9.351M (-23.7%)	1.0%	$89.46	-12.0%	PUT	90353T100
DJT	TRUMP MEDIA & TECHNOLOGY GRO	100,000 (-60.0%)	$928K (-72.0%)	0.1%	—	—	CALL	25400Q105
UBER	UBER TECHNOLOGIES INC	194,407 (-2.2%)	$13.98M (-13.9%)	1.5%	$89.46	-12.0%	COM	90353T100
QCOM	QUALCOMM INC	18,000 (-25.0%)	$2.318M (-43.5%)	0.3%	—	—	CALL	747525103
GEV	GE VERNOVA INC	6,483 (-39.5%)	$5.659M (-19.2%)	0.6%	$455.70	+61.7%	COM	36828A101
XLY	SELECT SECTOR SPDR TR	29,460 (-17.5%)	$3.211M (-24.7%)	0.4%	$119.41	—	STATE STREET CON	81369Y407
COHR	COHERENT CORP	3,700 (-61.9%)	$881K (-50.8%)	0.1%	$99.69	+114.0%	COM	19247G107
XLK	SELECT SECTOR SPDR TR	50,852 (-2.3%)	$6.758M (-9.8%)	0.7%	$143.97	—	STATE STREET TEC	81369Y803
ASML	ASML HLDG NV	7,947 (-24.2%)	$10.5M (-6.4%)	1.1%	$1069.86	—	N Y REGISTRY SHS	N07059210
ASML	ASML HLDG NV	6,000 (-25.0%)	$7.925M (-7.4%)	0.9%	$1069.86	—	PUT	N07059210
NAVN	NAVAN INC	36,000 (-29.4%)	$477K (-45.3%)	0.1%	$15.89	-18.3%	CL A	639193101
BMNR	BITMINE IMMERSION TECNOLOGIE	301 (-96.0%)	$5,954 (-97.1%)	0.0%	$40.53	-37.3%	COM NEW	09175A206
MU	MICRON TECHNOLOGY INC	12,200 (-18.7%)	$4.122M (-3.7%)	0.5%	$387.04	0.0%	PUT	595112103
PTRN	PATTERN GROUP INC	14,000 (-45.1%)	$174K (-40.9%)	0.0%	$13.94	-8.6%	COM SER A	70339W104
INTC	INTEL CORP	12,613 (-15.9%)	$557K (+0.6%)	0.1%	$24.23	+91.6%	COM	458140100

Unchanged Positions (5)

DELL DELL TECHNOLOGIES INC 0.6%

Value $5.909M Shares 36,000 Est. Cost — Unrealized —

OMC OMNICOM GROUP INC 0.5%

Value $4.345M Shares 57,700 Est. Cost — Unrealized —

QRVO QORVO INC 0.3%

Value $2.833M Shares 36,603 Est. Cost $88.25 Unrealized -6.9%

CRBG COREBRIDGE FINL INC 0.1%

Value $716K Shares 30,000 Est. Cost — Unrealized —

MMM 3M CO 0.2%

Value $1.754M Shares 12,077 Est. Cost $153.11 Unrealized +7.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DELL	DELL TECHNOLOGIES INC	36,000	$5.909M	0.6%	—	—	CALL	24703L202
OMC	OMNICOM GROUP INC	57,700	$4.345M	0.5%	—	—	CALL	681919106
QRVO	QORVO INC	36,603	$2.833M	0.3%	$88.25	-6.9%	COM	74736K101
CRBG	COREBRIDGE FINL INC	30,000	$716K	0.1%	—	—	PUT	21871X109
MMM	3M CO	12,077	$1.754M	0.2%	$153.11	+7.1%	COM	88579Y101