Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
NVDA	NVIDIA CORPORATION	3,121,840	$713M	11.5%	$228.38	$214.40	+6.5%	COM	67066G104
MSFT	MICROSOFT CORP	1,183,456	$607M	9.8%	$512.90	$462.46	+10.9%	COM	594918104
PLTR	PALANTIR TECHNOLOGIES INC	3,108,267	$581M	9.4%	$187.05	$159.37	+17.4%	CL A	69608A108
AMZN	AMAZON COM INC	1,921,596	$479M	7.7%	$249.15	$254.08	-1.9%	COM	023135106
SNOW	SNOWFLAKE INC	939,009	$319M	5.2%	$339.56	$308.95	+9.9%	COM SHS	833445109
BE	BLOOM ENERGY CORP	915,291	$254M	4.1%	$276.98	$236.23	+17.2%	COM CL A	093712107
MPWR	MONOLITHIC PWR SYS INC	137,841	$186M	3.0%	$1347.22	$1310.20	+2.8%	COM	609839105
NBIS	NEBIUS GROUP N.V.	730,495	$172M	2.8%	$235.88	$215.08	+9.7%	SHS CLASS A	N97284108
CRWD	CROWDSTRIKE HLDGS INC	563,850	$149M	2.4%	$264.75	$212.27	+24.7%	CL A	22788C105
ORCL	ORACLE CORP	1,026,065	$141M	2.3%	$137.30	$141.09	-2.7%	COM	68389X105
DASH	DOORDASH INC	696,760	$128M	2.1%	$183.55	$201.89	-9.1%	CL A	25809K105
SPOT	SPOTIFY TECHNOLOGY S A	218,925	$107M	1.7%	$487.38	$509.00	-4.2%	SHS	L8681T102
SMTC	SEMTECH CORP	539,196	$96.17M	1.6%	$178.35	$141.67	+25.9%	COM	816850101
DELL	DELL TECHNOLOGIES INC	144,544	$77.76M	1.3%	$537.95	$469.71	+14.5%	CL C	24703L202
DDOG	DATADOG INC	198,952	$54.48M	0.9%	$273.85	$247.32	+10.7%	CL A COM	23804L103
MAR	MARRIOTT INTL INC NEW	78,925	$28.07M	0.5%	$355.67	$356.31	-0.2%	CL A	571903202
TWLO	TWILIO INC	90,000	$26.32M	0.4%	$292.46	$227.85	+28.4%	CL A	90138F102
CRWV	COREWEAVE INC	280,000	$24.39M	0.4%	$87.12	$85.40	+2.0%	COM CL A	21873S108
OKTA	OKTA INC	65,000	$13.59M	0.2%	$209.11	$158.31	+32.1%	CL A	679295105
SHOP	SHOPIFY INC	90,000	$13.35M	0.2%	$148.30	$135.71	+9.3%	CL A SUB VTG SHS	82509L107
TSEM	TOWER SEMICONDUCTOR LTD	46,379	$10.55M	0.2%	$227.43	$226.46	+0.4%	SHS NEW	M87915274
APH	AMPHENOL CORP	100,000	$8.43M	0.1%	$84.30	$135.67	-37.9%	CL A	032095101
—	LUMENTUM HLDGS INC	1,000,000	$5.229M	0.1%	$5.23	$5.23	—	NOTE 0.375% 3/1	55024UAK5
BABA	ALIBABA GROUP HLDG LTD	41,000	$4.409M	0.1%	$107.54	$115.58	-7.0%	SPONSORED ADS	01609W102
DUOL	DUOLINGO INC	25,000	$3.56M	0.1%	$142.40	$138.70	+2.7%	CL A COM	26603R106
NOK	NOKIA CORP	350,000	$3.549M	0.1%	$10.14	$10.39	-2.4%	SPONSORED ADR	654902204
TWST	TWIST BIOSCIENCE CORP	15,000	$2.899M	0.0%	$193.24	$123.53	+56.4%	COM	90184D100
FLEX	FLEX LTD	25,000	$2.75M	0.0%	$109.99	$118.41	-7.1%	ORD	Y2573F102
HSAI	HESAI GROUP	120,000	$1.914M	0.0%	$15.95	$17.00	-6.2%	SPONSORED ADS	428050108
CHA	CHAGEE HLDGS LTD	60,126	$703K	0.0%	$11.70	$11.26	+3.9%	SPONSORED ADS	15743P104

Increased Positions (4)

INTC INTEL CORP 3.7%

Value $227M (+39.5%) Shares 1,891,184 (+62.1%) Share Price $120.23 Est. Cost/Share $101.46 Unrealized @ Report Date +18.5%

U UNITY SOFTWARE INC 0.6%

Value $39.86M (+599.6%) Shares 973,915 (+388.5%) Share Price $40.93 Est. Cost/Share $37.86 Unrealized @ Report Date +8.1%

SPCX SPACE EXPLORATION TECHN CORP 2.6%

Value $158M (+21.5%) Shares 1,048,355 (+37.6%) Share Price $150.86 Est. Cost/Share $161.87 Unrealized @ Report Date -6.8%

RBLX ROBLOX CORP 0.2%

Value $10.72M (+115.0%) Shares 253,000 (+176.0%) Share Price $42.37 Est. Cost/Share $46.96 Unrealized @ Report Date -9.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
INTC	INTEL CORP	1,891,184 (+62.1%)	$227M (+39.5%)	3.7%	$120.23	$101.46	+18.5%	COM	458140100
U	UNITY SOFTWARE INC	973,915 (+388.5%)	$39.86M (+599.6%)	0.6%	$40.93	$37.86	+8.1%	COM	91332U101
SPCX	SPACE EXPLORATION TECHN CORP	1,048,355 (+37.6%)	$158M (+21.5%)	2.6%	$150.86	$161.87	-6.8%	CLASS A COM STK	84615Q103
RBLX	ROBLOX CORP	253,000 (+176.0%)	$10.72M (+115.0%)	0.2%	$42.37	$46.96	-9.8%	CL A	771049103

Exited Positions (15)

WDC WESTERN DIGITAL CORP 8.1%

Value $501M Shares 784,212 Share Price $638.72 * Est. Cost/Share $170.62 Unrealized @ Report Date +166.4%

STM STMICROELECTRONICS N V 7.0%

Value $431M Shares 5,755,892 Share Price $74.89 * Est. Cost/Share $60.14 Unrealized @ Report Date -11.3%

TER TERADYNE INC 5.2%

Value $319M Shares 660,196 Share Price $483.84 * Est. Cost/Share $227.45 Unrealized @ Report Date +76.3%

AMAT APPLIED MATLS INC 4.3%

Value $269M Shares 371,798 Share Price $723.00 * Est. Cost/Share $461.39 Unrealized @ Report Date +10.8%

LRCX LAM RESEARCH CORP 3.5%

Value $214M Shares 493,233 Share Price $433.33 * Est. Cost/Share $303.56 Unrealized @ Report Date +8.2%

ASML ASML HLDG NV 3.4%

Value $210M Shares 105,329 Share Price $1989.44 * Est. Cost/Share $1184.47 Unrealized @ Report Date +53.0%

RDDT REDDIT INC 1.9%

Value $115M Shares 661,178 Share Price $173.58 * Est. Cost/Share $175.20 Unrealized @ Report Date -18.7%

ALAB ASTERA LABS INC 1.4%

Value $86.32M Shares 178,711 Share Price $483.02 * Est. Cost/Share $265.37 Unrealized @ Report Date +34.1%

FORM FORMFACTOR INC 1.4%

Value $85.48M Shares 534,492 Share Price $159.93 * Est. Cost/Share $132.67 Unrealized @ Report Date +12.5%

MOD MODINE MFG CO 1.3%

Value $78.41M Shares 293,655 Share Price $267.02 * Est. Cost/Share $170.73 Unrealized @ Report Date +9.6%

APP APPLOVIN CORP 1.2%

Value $73.06M Shares 141,799 Share Price $515.23 * Est. Cost/Share $445.22 Unrealized @ Report Date -34.8%

AS AMER SPORTS INC 0.6%

Value $37.61M Shares 1,111,337 Share Price $33.84 * Est. Cost/Share $31.98 Unrealized @ Report Date -14.7%

— SEA LTD 0.1%

Value $9.163M Shares 9,258,000 Share Price $0.99 Est. Cost/Share $1.01 Unrealized @ Report Date —

BEKE KE HLDGS INC 0.1%

Value $3.697M Shares 254,458 Share Price $14.53 * Est. Cost/Share $16.47 Unrealized @ Report Date +2.3%

LFTO LIFTOFF MOBILE INC 0.0%

Value $480K Shares 20,000 Share Price $24.02 * Est. Cost/Share $25.92 Unrealized @ Report Date -39.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WDC	WESTERN DIGITAL CORP	784,212	$501M	8.1%	$638.72 *	$170.62	+166.4%	—	958102105
STM	STMICROELECTRONICS N V	5,755,892	$431M	7.0%	$74.89 *	$60.14	-11.3%	—	861012102
TER	TERADYNE INC	660,196	$319M	5.2%	$483.84 *	$227.45	+76.3%	—	880770102
AMAT	APPLIED MATLS INC	371,798	$269M	4.3%	$723.00 *	$461.39	+10.8%	—	038222105
LRCX	LAM RESEARCH CORP	493,233	$214M	3.5%	$433.33 *	$303.56	+8.2%	—	512807306
ASML	ASML HLDG NV	105,329	$210M	3.4%	$1989.44 *	$1184.47	+53.0%	—	N07059210
RDDT	REDDIT INC	661,178	$115M	1.9%	$173.58 *	$175.20	-18.7%	—	75734B100
ALAB	ASTERA LABS INC	178,711	$86.32M	1.4%	$483.02 *	$265.37	+34.1%	—	04626A103
FORM	FORMFACTOR INC	534,492	$85.48M	1.4%	$159.93 *	$132.67	+12.5%	—	346375108
MOD	MODINE MFG CO	293,655	$78.41M	1.3%	$267.02 *	$170.73	+9.6%	—	607828100
APP	APPLOVIN CORP	141,799	$73.06M	1.2%	$515.23 *	$445.22	-34.8%	—	03831W108
AS	AMER SPORTS INC	1,111,337	$37.61M	0.6%	$33.84 *	$31.98	-14.7%	—	G0260P102
—	SEA LTD	9,258,000	$9.163M	0.1%	$0.99	$1.01	—	—	81141RAG5
BEKE	KE HLDGS INC	254,458	$3.697M	0.1%	$14.53 *	$16.47	+2.3%	—	482497104
LFTO	LIFTOFF MOBILE INC	20,000	$480K	0.0%	$24.02 *	$25.92	-39.0%	—	53229X101

Decreased Positions (5)

SNDK SANDISK CORP 3.2%

Value $201M (-64.2%) Shares 115,488 (-53.2%) Share Price $1739.89 Est. Cost/Share $465.26 Unrealized @ Report Date +274.0%

STX SEAGATE TECHNOLOGY HLDNGS PL 5.3%

Value $328M (-39.9%) Shares 355,094 (-37.1%) Share Price $922.34 Est. Cost/Share $371.28 Unrealized @ Report Date +148.4%

MU MICRON TECHNOLOGY INC 4.6%

Value $286M (-42.2%) Shares 268,718 (-37.4%) Share Price $1065.11 Est. Cost/Share $229.35 Unrealized @ Report Date +364.4%

LITE LUMENTUM HLDGS INC 8.4%

Value $519M (+4.8%) Shares 533,854 (-7.4%) Share Price $971.26 Est. Cost/Share $389.27 Unrealized @ Report Date +149.5%

TSM TAIWAN SEMICONDUCTOR MANUFAC 3.2%

Value $199M (-8.8%) Shares 436,401 (-4.5%) Share Price $456.19 Est. Cost/Share $405.79 Unrealized @ Report Date +12.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SNDK	SANDISK CORP	115,488 (-53.2%)	$201M (-64.2%)	3.2%	$1739.89	$465.26	+274.0%	COM	80004C200
STX	SEAGATE TECHNOLOGY HLDNGS PL	355,094 (-37.1%)	$328M (-39.9%)	5.3%	$922.34	$371.28	+148.4%	ORD SHS	G7997R103
MU	MICRON TECHNOLOGY INC	268,718 (-37.4%)	$286M (-42.2%)	4.6%	$1065.11	$229.35	+364.4%	COM	595112103
LITE	LUMENTUM HLDGS INC	533,854 (-7.4%)	$519M (+4.8%)	8.4%	$971.26	$389.27	+149.5%	COM	55024U109
TSM	TAIWAN SEMICONDUCTOR MANUFAC	436,401 (-4.5%)	$199M (-8.8%)	3.2%	$456.19	$405.79	+12.4%	SPONSORED ADS	874039100

Unchanged Positions (5)

— ALIBABA GROUP HLDG LTD 0.0%

Value $436K Shares 347,000 Share Price $1.26 Est. Cost/Share $1.27 Unrealized @ Report Date —

— COINBASE GLOBAL INC 0.0%

Value $475K Shares 500,000 Share Price $0.95 Est. Cost/Share $0.92 Unrealized @ Report Date —

— ORACLE CORP 0.0%

Value $442K Shares 10,000 Share Price $44.24 Est. Cost/Share $45.01 Unrealized @ Report Date —

— TRIP COM GROUP LTD 0.0%

Value $682K Shares 699,000 Share Price $0.98 Est. Cost/Share $1.11 Unrealized @ Report Date —

— QFIN HOLDINGS INC 0.0%

Value $223K Shares 250,000 Share Price $0.89 Est. Cost/Share $0.85 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	ALIBABA GROUP HLDG LTD	347,000	$436K	0.0%	$1.26	$1.27	—	NOTE 0.500% 6/0	01609WBG6
—	COINBASE GLOBAL INC	500,000	$475K	0.0%	$0.95	$0.92	—	NOTE 0.250% 4/0	19260QAF4
—	ORACLE CORP	10,000	$442K	0.0%	$44.24	$45.01	—	6.5 DEP CUM SR D	68389X204
—	TRIP COM GROUP LTD	699,000	$682K	0.0%	$0.98	$1.11	—	NOTE 0.750% 6/1	89677QAB3
—	QFIN HOLDINGS INC	250,000	$223K	0.0%	$0.89	$0.85	—	NOTE 0.500% 4/0	88557WAB7