Candelo Capital Management LP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GVA	GRANITE CONSTR INC	49,088	$5,662	5.1%	$107.45	0.0%	COM	387328107
MKSI	MKS INC.	35,107	$5,610	5.0%	$148.21	0.0%	COM	55306N104
DHR	DANAHER CORPORATION	21,200	$4,853	4.3%	$219.54	0.0%	COM	235851102
SEI	SOLARIS ENERGY INFRAS INC	102,600	$4,717	4.2%	$48.29	0.0%	COM CL A	83418M103
ATRO	ASTRONICS CORP	83,642	$4,537	4.0%	$50.32	0.0%	COM	046433108
ADI	ANALOG DEVICES INC	16,700	$4,529	4.0%	$250.62	0.0%	COM	032654105
SHC	SOTERA HEALTH CO	230,801	$4,071	3.6%	$16.54	0.0%	COM	83601L102
CTRI	CENTURI HOLDINGS INC	143,133	$3,614	3.2%	$22.36	0.0%	COM SHS	155923105
CHRW	C H ROBINSON WORLDWIDE INC	21,201	$3,408	3.0%	$147.32	0.0%	COM NEW	12541W209
AMAT	APPLIED MATLS INC	13,100	$3,367	3.0%	$239.49	0.0%	COM	038222105
SMH	VANECK ETF TRUST	7,000	$2,521	2.2%	—	—	PUT	92189F676
SATS	ECHOSTAR CORP	22,300	$2,424	2.2%	$81.43	0.0%	CL A	278768106
KNX	KNIGHT-SWIFT TRANSN HLDGS IN	46,194	$2,415	2.2%	$46.76	0.0%	CL A	499049104
ATS	ATS CORP	24,700	$680	0.6%	$26.71	0.0%	COM	00217Y104

Increased Positions (4)

MRCY MERCURY SYS INC 4.2%

Value ($000) $4,689 (+296.0%) Shares 64,226 (+319.8%) Est. Cost $71.48 Unrealized +4.1%

ATI ATI INC 6.5%

Value ($000) $7,275 (+46.9%) Shares 63,396 (+4.1%) Est. Cost $69.59 Unrealized +40.0%

TLN TALEN ENERGY CORP 4.2%

Value ($000) $4,723 (+24.8%) Shares 12,600 (+41.6%) Est. Cost $212.23 Unrealized +83.1%

UNP UNION PAC CORP 5.1%

Value ($000) $5,748 (-1.1%) Shares 24,850 (+1.0%) Est. Cost $223.19 Unrealized +1.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MRCY	MERCURY SYS INC	64,226 (+319.8%)	$4,689 (+296.0%)	4.2%	$71.48	+4.1%	COM	589378108
ATI	ATI INC	63,396 (+4.1%)	$7,275 (+46.9%)	6.5%	$69.59	+40.0%	COM	01741R102
TLN	TALEN ENERGY CORP	12,600 (+41.6%)	$4,723 (+24.8%)	4.2%	$212.23	+83.1%	COM	87422Q109
UNP	UNION PAC CORP	24,850 (+1.0%)	$5,748 (-1.1%)	5.1%	$223.19	+1.8%	COM	907818108

Exited Positions (16)

TRP TC ENERGY CORP 6.5%

Value ($000) $7,302 Shares 134,195 Est. Cost $45.80 Unrealized +16.5%

LHX L3HARRIS TECHNOLOGIES INC 4.6%

Value ($000) $5,199 Shares 17,022 Est. Cost $227.05 Unrealized +27.0%

CVNA CARVANA CO 3.8%

Value ($000) $4,291 Shares 11,375 Est. Cost $274.18 Unrealized +35.6%

VMC VULCAN MATLS CO 3.7%

Value ($000) $4,107 Shares 13,350 Est. Cost $252.23 Unrealized +16.2%

FTAI FTAI AVIATION LTD 3.6%

Value ($000) $4,038 Shares 24,200 Est. Cost $141.79 Unrealized +20.1%

PTC PTC INC 3.5%

Value ($000) $3,897 Shares 19,194 Est. Cost $158.40 Unrealized +17.3%

PRIM PRIMORIS SVCS CORP 3.4%

Value ($000) $3,841 Shares 27,970 Est. Cost $107.37 Unrealized +21.6%

CEG CONSTELLATION ENERGY CORP 3.1%

Value ($000) $3,530 Shares 10,726 Est. Cost $268.33 Unrealized +35.4%

SHW SHERWIN WILLIAMS CO 3.1%

Value ($000) $3,470 Shares 10,022 Est. Cost $344.50 Unrealized -3.0%

XLB SELECT SECTOR SPDR TR 2.4%

Value ($000) $2,689 Shares 30,000 Est. Cost — Unrealized —

POWL POWELL INDS INC 2.3%

Value ($000) $2,616 Shares 8,583 Est. Cost $190.92 Unrealized +76.3%

VRT VERTIV HOLDINGS CO 2.1%

Value ($000) $2,338 Shares 15,500 Est. Cost $97.15 Unrealized +78.7%

RIOT RIOT PLATFORMS INC 1.6%

Value ($000) $1,804 Shares 94,800 Est. Cost $13.85 Unrealized +23.5%

LII LENNOX INTL INC 0.7%

Value ($000) $794 Shares 1,500 Est. Cost — Unrealized —

F FORD MTR CO 0.6%

Value ($000) $718 Shares 60,000 Est. Cost — Unrealized —

KRMN KARMAN HLDGS INC 0.5%

Value ($000) $585 Shares 8,100 Est. Cost $40.24 Unrealized +80.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TRP	TC ENERGY CORP	134,195	$7,302	6.5%	$45.80	+16.5%	—	87807B107
LHX	L3HARRIS TECHNOLOGIES INC	17,022	$5,199	4.6%	$227.05	+27.0%	—	502431109
CVNA	CARVANA CO	11,375	$4,291	3.8%	$274.18	+35.6%	—	146869102
VMC	VULCAN MATLS CO	13,350	$4,107	3.7%	$252.23	+16.2%	—	929160109
FTAI	FTAI AVIATION LTD	24,200	$4,038	3.6%	$141.79	+20.1%	—	G3730V105
PTC	PTC INC	19,194	$3,897	3.5%	$158.40	+17.3%	—	69370C100
PRIM	PRIMORIS SVCS CORP	27,970	$3,841	3.4%	$107.37	+21.6%	—	74164F103
CEG	CONSTELLATION ENERGY CORP	10,726	$3,530	3.1%	$268.33	+35.4%	—	21037T109
SHW	SHERWIN WILLIAMS CO	10,022	$3,470	3.1%	$344.50	-3.0%	—	824348106
XLB	SELECT SECTOR SPDR TR	30,000	$2,689	2.4%	—	—	PUT	81369Y100
POWL	POWELL INDS INC	8,583	$2,616	2.3%	$190.92	+76.3%	—	739128106
VRT	VERTIV HOLDINGS CO	15,500	$2,338	2.1%	$97.15	+78.7%	—	92537N108
RIOT	RIOT PLATFORMS INC	94,800	$1,804	1.6%	$13.85	+23.5%	—	767292105
LII	LENNOX INTL INC	1,500	$794	0.7%	—	—	PUT	526107107
F	FORD MTR CO	60,000	$718	0.6%	—	—	PUT	345370860
KRMN	KARMAN HLDGS INC	8,100	$585	0.5%	$40.24	+80.0%	—	485924104

Decreased Positions (8)

CW CURTISS WRIGHT CORP 1.5%

Value ($000) $1,697 (-65.1%) Shares 3,079 (-65.6%) Est. Cost $305.93 Unrealized +82.3%

PWR QUANTA SVCS INC 2.7%

Value ($000) $3,013 (-44.2%) Shares 7,138 (-45.2%) Est. Cost $275.96 Unrealized +59.2%

TDY TELEDYNE TECHNOLOGIES INC 6.0%

Value ($000) $6,743 (-25.3%) Shares 13,202 (-14.3%) Est. Cost $505.94 Unrealized +4.1%

MOD MODINE MFG CO 3.8%

Value ($000) $4,207 (-24.2%) Shares 31,511 (-19.3%) Est. Cost $127.24 Unrealized +17.1%

GLW CORNING INC 3.5%

Value ($000) $3,948 (-18.4%) Shares 45,089 (-23.6%) Est. Cost $64.97 Unrealized +32.3%

BDC BELDEN INC 3.8%

Value ($000) $4,297 (-15.3%) Shares 36,871 (-12.6%) Est. Cost $125.80 Unrealized -7.3%

WWD WOODWARD INC 3.3%

Value ($000) $3,673 (-16.0%) Shares 12,150 (-29.8%) Est. Cost $206.67 Unrealized +33.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 4.0%

Value ($000) $4,437 (-5.4%) Shares 14,600 (-13.1%) Est. Cost $279.29 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CW	CURTISS WRIGHT CORP	3,079 (-65.6%)	$1,697 (-65.1%)	1.5%	$305.93	+82.3%	COM	231561101
PWR	QUANTA SVCS INC	7,138 (-45.2%)	$3,013 (-44.2%)	2.7%	$275.96	+59.2%	COM	74762E102
TDY	TELEDYNE TECHNOLOGIES INC	13,202 (-14.3%)	$6,743 (-25.3%)	6.0%	$505.94	+4.1%	COM	879360105
MOD	MODINE MFG CO	31,511 (-19.3%)	$4,207 (-24.2%)	3.8%	$127.24	+17.1%	COM	607828100
GLW	CORNING INC	45,089 (-23.6%)	$3,948 (-18.4%)	3.5%	$64.97	+32.3%	COM	219350105
BDC	BELDEN INC	36,871 (-12.6%)	$4,297 (-15.3%)	3.8%	$125.80	-7.3%	COM	077454106
WWD	WOODWARD INC	12,150 (-29.8%)	$3,673 (-16.0%)	3.3%	$206.67	+33.0%	COM	980745103
TSM	TAIWAN SEMICONDUCTOR MFG LTD	14,600 (-13.1%)	$4,437 (-5.4%)	4.0%	$279.29	—	SPONSORED ADS	874039100

Unchanged Positions (1)

ESI ELEMENT SOLUTIONS INC 4.7%

Value ($000) $5,223 Shares 209,000 Est. Cost $24.80 Unrealized +4.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ESI	ELEMENT SOLUTIONS INC	209,000	$5,223	4.7%	$24.80	+4.5%	COM	28618M106