Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LPLA	LPL Financial Holdings	194,812	$54.87M	4.3%	$281.68	—	COM	50212V100
BP	BP plc	984,203	$36.37M	2.9%	$36.95	—	SPONSORED ADR	055622104
SHEL	Shell plc	459,200	$35.61M	2.8%	$77.54	—	SPON ADS	780259305
APP	Applovin Corp	61,276	$31.57M	2.5%	$515.23	—	COM CL A	03831W108
BRUN	BOOST RUN INC-CL A	750,000	$29.11M	2.3%	$38.81	—	ORD SHS CL A	09940T100
ING	ING Groep NV	900,000	$28.24M	2.2%	$31.38	—	SPONSORED ADR	456837103
BKD	Brookdale Senior Living	1,570,000	$25.26M	2.0%	$16.09	—	COM	112463104
AMG	Affiliated Managers Group	69,045	$23.36M	1.8%	$338.40	—	COM	008252108
GSK	GSK plc	426,416	$22.35M	1.8%	$52.42	—	SPONSORED ADR	37733W204
NRG	NRG Energy	151,000	$22.06M	1.7%	$146.06	—	COM NEW	629377508
TSM	Taiwan Semiconductor Manufacturing Company Ltd	44,200	$21.11M	1.7%	$477.57	—	SPONSORED ADS	874039100
RDDT	REDDIT CL A ORD	120,000	$20.83M	1.6%	$173.58	—	CL A	75734B100
TVTX	Travere Therapeutics	321,721	$18.28M	1.4%	$56.81	—	COM	89422G107
AVGO	Broadcom	47,500	$17.94M	1.4%	$377.75	—	COM	11135F101
FDS	Factset Research Systems	74,500	$17.14M	1.4%	$230.08	—	COM	303075105
RIO	Rio Tinto plc	160,275	$15.21M	1.2%	$94.93	—	SPONSORED ADR	767204100
SE	Sea Limited	150,000	$14.37M	1.1%	$95.83	—	SPONSORD ADS	81141R100
ROP	Roper Technologies	42,000	$14.22M	1.1%	$338.50	—	COM	776696106
VST	Vistra Corp	80,000	$12.69M	1.0%	$158.63	—	COM	92840M102
LFTO	LIFTOFF MOBILE INC	508,551	$12.22M	1.0%	$24.02	—	COM	53229X101
MIRM	Mirum Pharmaceuticals	101,240	$11.85M	0.9%	$117.07	—	COM	604749101
WPP	WPP PLC	676,000	$10.47M	0.8%	$15.49	—	ADR	92937A102
NWG	NatWest Group plc	587,290	$10.35M	0.8%	$17.63	—	SPONS ADR	639057207
COF	Capital One Financial	50,586	$10.15M	0.8%	$200.62	—	COM	14040H105
SYY	Sysco Corp	120,000	$10.03M	0.8%	$83.58	—	COM	871829107
FRMI	FERMI INC	875,000	$8.015M	0.6%	$9.16	—	COM	314911108
MLTX	MOOLAKE IMMUNOTHERAPEUTICS	374,866	$7.295M	0.6%	$19.46	—	CLASS A ORD	61559X104
MTD	Mettler-Toledo International	5,710	$7.295M	0.6%	$1277.51	—	COM	592688105
CRL	Charles River Laboratories International	31,274	$7.093M	0.6%	$226.79	—	COM	159864107
AADX	Applied Aerospace & Defense Inc.	310,000	$7.062M	0.6%	$22.78	—	COMMON STOCK	03815J107
SDGR	Schrodinger	434,321	$7.058M	0.6%	$16.25	—	COM	80810D103
CYTK	Cytokinetics	81,879	$6.975M	0.5%	$85.19	—	COM NEW	23282W605
SCHW	Charles Schwab Corp (The)	73,700	$6.8M	0.5%	$92.27	—	COM	808513105
WST	West Pharmaceutical Services	18,700	$6.713M	0.5%	$359.00	—	COM	955306105
BOOT	Boot Barn Holdings	40,500	$6.653M	0.5%	$164.27	—	COM	099406100
FLG	FLAGSTAR BANK NA	398,200	$5.949M	0.5%	$14.94	—	COM NEW	649445400
PTCT	PTC Therapeutics	63,900	$5.212M	0.4%	$81.57	—	COM	69366J200
PNFP	PINNACLE FINANCIAL PARTNERS INC	51,179	$5.163M	0.4%	$100.88	—	COM	72348N109
BRKR	Bruker Corp	85,100	$5.121M	0.4%	$60.18	—	COM	116794108
LAZ	LAZARD ORD	121,900	$5.112M	0.4%	$41.94	—	COM	52110M109
DOC	Healthpeak Properties	228,200	$4.883M	0.4%	$21.40	—	COM	42250P103
GH	Guardant Health	31,775	$4.767M	0.4%	$150.03	—	COM	40131M109
MSCI	MSCI	8,185	$4.584M	0.4%	$560.04	—	COM	55354G100
—	NU HLDGS LTD	30,000	$4.364M	0.3%	—	—	CALL	G6683N903
WFC	Wells Fargo & Co	48,900	$4.041M	0.3%	$82.64	—	COM	949746101
VOD	Vodafone Group Plc	299,000	$3.954M	0.3%	$13.22	—	SPONSORED ADR	92857W308
GILD	Gilead Sciences	31,200	$3.942M	0.3%	$126.34	—	COM	375558103
BAM	Brookfield Asset Management Ltd	82,400	$3.696M	0.3%	$44.85	—	CL A LMT VTG SHS	113004105
—	APPLOVIN CORP	500	$3.625M	0.3%	—	—	CALL	03831W908
—	FERMI INC	10,000	$3.494M	0.3%	—	—	CALL	314911908
CBRS	Cerebras Systems Inc.	15,682	$3.466M	0.3%	$221.00	—	COM CL A	15675D103
ETN	Eaton Corp	7,926	$3.377M	0.3%	$426.12	—	SHS	G29183103
CRH	CRH Public Limited	30,000	$3.21M	0.3%	$107.00	—	ORD	G25508105
OLLI	Ollie's Bargain Outlet Holding	40,000	$3.075M	0.2%	$76.88	—	COM	681116109
AVTR	Avantor	300,700	$2.977M	0.2%	$9.90	—	COM	05352A100
FPS	FORGENT POWER SOLUTIONS INC.	49,657	$2.774M	0.2%	$55.86	—	COM SHS CL A	34631F102
LYG	Lloyds Banking Group PLC	450,000	$2.623M	0.2%	$5.83	—	SPONSORED ADR	539439109
BFH	Alliance Data Systems Corp	24,130	$2.614M	0.2%	$108.35	—	COM	018581108
TT	Trane Technologies plc	5,000	$2.456M	0.2%	$491.16	—	SHS	G8994E103
MSM	MSC Industrial Direct Co	20,000	$2.379M	0.2%	$118.95	—	CL A	553530106
PVLA	PALVELLA THERAPEUTICS ORD	14,088	$2.153M	0.2%	$152.82	—	COM	697947109
—	NRG ENERGY INC	1,500	$2.139M	0.2%	—	—	CALL	629377908
URBN	Urban Outfitters	30,000	$2.126M	0.2%	$70.86	—	COM	917047102
ILMN	Illumina	12,000	$2.11M	0.2%	$175.83	—	COM	452327109
CELH	Celsius Holdings	70,000	$2.05M	0.2%	$29.28	—	COM NEW	15118V207
EROC	ERock, Inc.	140,000	$2.03M	0.2%	$14.50	—	CL A COM	296013105
B	Barnes Group	55,000	$2.02M	0.2%	$36.73	—	COM SHS	06849F108
XRAY	DENTSPLY SIRONA	184,700	$1.96M	0.2%	$10.61	—	COM	24906P109
KR	Kroger Co (The)	35,000	$1.944M	0.2%	$55.53	—	COM	501044101
TOST	Toast	66,800	$1.858M	0.1%	$27.82	—	CL A	888787108
EHC	Encompass Health Corp	18,344	$1.854M	0.1%	$101.08	—	COM	29261A100
SHC	Sotera Health Company	103,830	$1.843M	0.1%	$17.75	—	COM	83601L102
INIO	INNIO NV	45,600	$1.803M	0.1%	$39.55	—	ORDINARY SHARES	N52A8C105
—	AMAZON COM INC	2,000	$1.61M	0.1%	—	—	CALL	023135906
EVR	Evercore	4,700	$1.605M	0.1%	$341.44	—	CLASS A	29977A105
COGT	Cogent Biosciences	41,300	$1.598M	0.1%	$38.70	—	COM	19240Q201
JAZZ	Jazz Pharmaceuticals plc	6,100	$1.47M	0.1%	$240.97	—	SHS USD	G50871105
XENE	Xenon Pharmaceuticals	20,900	$1.262M	0.1%	$60.36	—	COM	98420N105
QNT	QUANTINUUM INC-A	15,000	$1.226M	0.1%	$81.74	—	CL A COM	74768A104
INGM	INGRAM MICRO HLDG CORP	43,235	$1.186M	0.1%	$27.43	—	COM	457152106
ARES	Ares Management Corp	9,300	$1.035M	0.1%	$111.31	—	CL A COM STK	03990B101
WLTH	WEALTHFRONT CORP	112,800	$1.008M	0.1%	$8.94	—	COM	947002101
BLTE	BELITE BIO INC	6,400	$986K	0.1%	$153.99	—	SPONSORED ADS	07782B104
—	SEA LTD	1,500	$938K	0.1%	—	—	CALL	81141R900
—	MICROSOFT CORP	1,000	$891K	0.1%	—	—	CALL	594918904
SPGI	S&P Global	2,000	$815K	0.1%	$407.26	—	COM	78409V104
CIGI	Colliers International Group	8,000	$750K	0.1%	$93.79	—	SUB VTG SHS	194693107
NOK	Nokia Corp	55,702	$740K	0.1%	$13.28	—	SPONSORED ADR	654902204
—	DICKS SPORTING GOODS INC	1,000	$685K	0.1%	—	—	CALL	253393902
LCLN	LINCOLN INTERNATIONAL CL A ORD	22,139	$528K	0.0%	$23.87	—	CL A	533714101
SHW	Sherwin-Williams Company (The)	1,528	$526K	0.0%	$344.32	—	COM	824348106
MRK	Merck & Co	4,000	$514K	0.0%	$128.50	—	COM	58933Y105
ANGX	ANGEL STUDIOS INC	130,806	$480K	0.0%	$3.67	—	CL A COM	034948109
CRDO	Credo Technology Group Holding	1,686	$459K	0.0%	$271.95	—	ORDINARY SHARES	G25457105
JNJ	Johnson & Johnson	1,700	$432K	0.0%	$253.97	—	COM	478160104
TLX	TELIX PHARMACEUTICALS ADS	36,100	$416K	0.0%	$11.53	—	SPONSORED ADS	87961M105
HMH	HMH HOLDING INC	21,000	$394K	0.0%	$18.74	—	CL A	40445M100
MTZ	MasTec	880	$366K	0.0%	$416.06	—	COM	576323109
EQT	EQT Corp	6,500	$346K	0.0%	$53.17	—	COM	26884L109
—	SELECT SECTOR SPDR TR	80,000	$325K	0.0%	—	—	CALL	81369Y906
OVV	Ovintiv	5,400	$284K	0.0%	$52.65	—	COM	69047Q102
UROY	Uranium Royalty Corp	100,000	$278K	0.0%	$2.78	—	COM	91702V101
NXT	Nextracker	2,250	$268K	0.0%	$119.14	—	CLASS A COM	65290E101
—	STATE STR SPDR S&P 500 ETF	1,000	$201K	0.0%	—	—	PUT	78462F953
—	SHELL PLC	5,000	$30,850	0.0%	—	—	CALL	780259905

Increased Positions (30)

KKR KKR & Co 3.3%

Value $42.23M (+115.3%) Shares 460,100 (+117.0%) Est. Cost $102.37 Unrealized —

BTI British American Tobacco plc 2.1%

Value $26.88M (+212.8%) Shares 435,252 (+196.1%) Est. Cost $60.65 Unrealized —

TROW T Rowe Price Group 1.4%

Value $17.66M (+134.6%) Shares 155,300 (+86.0%) Est. Cost $106.98 Unrealized —

BLND Blend Labs 1.5%

Value $19.35M (+75.1%) Shares 11,314,649 (+74.1%) Est. Cost $2.12 Unrealized —

SN SHARKNINJA ORD 1.1%

Value $13.4M (+97.7%) Shares 88,000 (+37.5%) Est. Cost $130.78 Unrealized —

FIVE Five Below 0.6%

Value $7.641M (+167.5%) Shares 42,500 (+240.0%) Est. Cost $186.21 Unrealized —

AS AMER SPORTS ORD 0.8%

Value $10.15M (+66.7%) Shares 300,000 (+62.2%) Est. Cost $35.42 Unrealized —

SARO STANDARDAERO INC 0.5%

Value $6.893M (+104.1%) Shares 230,491 (+76.3%) Est. Cost $30.68 Unrealized —

FLUT FLUTTER ENTERTAINMENT ORD 0.6%

Value $7.152M (+94.9%) Shares 70,000 (+94.4%) Est. Cost $135.25 Unrealized —

DEO Diageo plc 0.3%

Value $4.341M (+288.7%) Shares 54,000 (+260.0%) Est. Cost $78.73 Unrealized —

LOAR LOAR HOLDINGS ORD 0.5%

Value $5.804M (+123.5%) Shares 71,999 (+58.8%) Est. Cost $75.76 Unrealized —

TPR Tapestry 0.5%

Value $6.148M (+81.5%) Shares 42,000 (+75.0%) Est. Cost $142.49 Unrealized —

ONON On Holding AG 0.6%

Value $7.084M (+49.2%) Shares 200,000 (+43.3%) Est. Cost $43.04 Unrealized —

KGS KODIAK GAS SVCS INC 0.4%

Value $4.61M (+97.5%) Shares 61,365 (+53.3%) Est. Cost $49.18 Unrealized —

KARO Karooooo Ltd 1.2%

Value $15.76M (+13.6%) Shares 319,346 (+14.7%) Est. Cost $44.89 Unrealized —

REAL RealReal (The) 0.5%

Value $6.857M (+37.6%) Shares 581,571 (+6.0%) Est. Cost $7.55 Unrealized —

EAT Brinker International 0.5%

Value $6.72M (+38.4%) Shares 40,000 (+17.6%) Est. Cost $160.02 Unrealized —

SKIN Beauty Health Company (The) 1.2%

Value $15.43M (-10.7%) Shares 22,276,935 (+14.8%) Est. Cost $1.23 Unrealized —

ECL Ecolab 0.3%

Value $3.758M (+94.1%) Shares 13,488 (+85.3%) Est. Cost $282.73 Unrealized —

KO Coca-Cola Company 0.3%

Value $4.064M (+78.1%) Shares 50,000 (+66.7%) Est. Cost $77.36 Unrealized —

TGT Target Corp 0.3%

Value $3.396M (+94.9%) Shares 26,000 (+80.9%) Est. Cost $118.77 Unrealized —

CVNA Carvana Co 2.5%

Value $31.26M (+4.7%) Shares 475,000 (+400.0%) Est. Cost $134.35 Unrealized —

DECK Deckers Outdoor Corp 0.4%

Value $5.362M (+33.9%) Shares 54,000 (+35.0%) Est. Cost $106.89 Unrealized —

V VISA 0.6%

Value $7.052M (+19.3%) Shares 20,555 (+5.1%) Est. Cost $261.97 Unrealized —

LEVI Levi Strauss & Co 0.3%

Value $4.189M (+37.3%) Shares 168,700 (+2.2%) Est. Cost $21.35 Unrealized —

ROIV Roivant Sciences Ltd 0.1%

Value $1.419M (+156.2%) Shares 40,100 (+100.5%) Est. Cost $25.95 Unrealized —

BURL Burlington Stores 0.3%

Value $4.118M (+26.6%) Shares 13,000 (+30.0%) Est. Cost $307.11 Unrealized —

VEEV Veeva Systems 0.1%

Value $1.375M (+56.6%) Shares 7,750 (+55.0%) Est. Cost $194.54 Unrealized —

LIN Linde plc 0.3%

Value $3.289M (+11.2%) Shares 6,338 (+6.2%) Est. Cost $386.16 Unrealized —

SFD SMITHFIELD FOODS ORD 0.1%

Value $1.227M (+20.6%) Shares 50,577 (+39.0%) Est. Cost $23.91 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KKR	KKR & Co	460,100 (+117.0%)	$42.23M (+115.3%)	3.3%	$102.37	—	COM	48251W104
BTI	British American Tobacco plc	435,252 (+196.1%)	$26.88M (+212.8%)	2.1%	$60.65	—	SPONSORED ADR	110448107
TROW	T Rowe Price Group	155,300 (+86.0%)	$17.66M (+134.6%)	1.4%	$106.98	—	COM	74144T108
BLND	Blend Labs	11,314,649 (+74.1%)	$19.35M (+75.1%)	1.5%	$2.12	—	CL A	09352U108
SN	SHARKNINJA ORD	88,000 (+37.5%)	$13.4M (+97.7%)	1.1%	$130.78	—	COM	G8068L108
FIVE	Five Below	42,500 (+240.0%)	$7.641M (+167.5%)	0.6%	$186.21	—	COM	33829M101
AS	AMER SPORTS ORD	300,000 (+62.2%)	$10.15M (+66.7%)	0.8%	$35.42	—	COM SHS	G0260P102
SARO	STANDARDAERO INC	230,491 (+76.3%)	$6.893M (+104.1%)	0.5%	$30.68	—	COM	85423L103
FLUT	FLUTTER ENTERTAINMENT ORD	70,000 (+94.4%)	$7.152M (+94.9%)	0.6%	$135.25	—	SHS	G3643J108
DEO	Diageo plc	54,000 (+260.0%)	$4.341M (+288.7%)	0.3%	$78.73	—	SPON ADR NEW	25243Q205
LOAR	LOAR HOLDINGS ORD	71,999 (+58.8%)	$5.804M (+123.5%)	0.5%	$75.76	—	COM SHS	53947R105
TPR	Tapestry	42,000 (+75.0%)	$6.148M (+81.5%)	0.5%	$142.49	—	COM	876030107
ONON	On Holding AG	200,000 (+43.3%)	$7.084M (+49.2%)	0.6%	$43.04	—	COM	H5919C104
KGS	KODIAK GAS SVCS INC	61,365 (+53.3%)	$4.61M (+97.5%)	0.4%	$49.18	—	COM	50012A108
KARO	Karooooo Ltd	319,346 (+14.7%)	$15.76M (+13.6%)	1.2%	$44.89	—	ORD SHS	Y4600W108
REAL	RealReal (The)	581,571 (+6.0%)	$6.857M (+37.6%)	0.5%	$7.55	—	COM	88339P101
EAT	Brinker International	40,000 (+17.6%)	$6.72M (+38.4%)	0.5%	$160.02	—	COM	109641100
SKIN	Beauty Health Company (The)	22,276,935 (+14.8%)	$15.43M (-10.7%)	1.2%	$1.23	—	COM CL A	88331L108
ECL	Ecolab	13,488 (+85.3%)	$3.758M (+94.1%)	0.3%	$282.73	—	COM	278865100
KO	Coca-Cola Company	50,000 (+66.7%)	$4.064M (+78.1%)	0.3%	$77.36	—	COM	191216100
TGT	Target Corp	26,000 (+80.9%)	$3.396M (+94.9%)	0.3%	$118.77	—	COM	87612E106
CVNA	Carvana Co	475,000 (+400.0%)	$31.26M (+4.7%)	2.5%	$134.35	—	CL A	146869102
DECK	Deckers Outdoor Corp	54,000 (+35.0%)	$5.362M (+33.9%)	0.4%	$106.89	—	COM	243537107
V	VISA	20,555 (+5.1%)	$7.052M (+19.3%)	0.6%	$261.97	—	COM CL A	92826C839
LEVI	Levi Strauss & Co	168,700 (+2.2%)	$4.189M (+37.3%)	0.3%	$21.35	—	CL A COM STK	52736R102
ROIV	Roivant Sciences Ltd	40,100 (+100.5%)	$1.419M (+156.2%)	0.1%	$25.95	—	COM	G76279101
BURL	Burlington Stores	13,000 (+30.0%)	$4.118M (+26.6%)	0.3%	$307.11	—	COM	122017106
VEEV	Veeva Systems	7,750 (+55.0%)	$1.375M (+56.6%)	0.1%	$194.54	—	CL A COM	922475108
LIN	Linde plc	6,338 (+6.2%)	$3.289M (+11.2%)	0.3%	$386.16	—	SHS	G54950103
SFD	SMITHFIELD FOODS ORD	50,577 (+39.0%)	$1.227M (+20.6%)	0.1%	$23.91	—	COM	832248207

Exited Positions (41)

NSC Norfolk Southern Corp 1.4%

Value $17.54M Shares 61,117 Est. Cost $294.27 Unrealized —

PRI PRIMERICA 1.3%

Value $17.04M Shares 68,041 Est. Cost $261.23 Unrealized —

EA Electronic Arts 1.2%

Value $15.47M Shares 75,898 Est. Cost $202.11 Unrealized —

PAHC Phibro Animal Health Corp 1.2%

Value $14.77M Shares 267,045 Est. Cost $36.67 Unrealized —

ELVN ENLIVEN THERAPEUTICS ORD 1.1%

Value $14.48M Shares 369,400 Est. Cost $25.60 Unrealized —

GTLS Chart Industries 0.9%

Value $11.78M Shares 56,989 Est. Cost $204.49 Unrealized —

TXNM TXNM ENERGY ORD 0.7%

Value $8.828M Shares 151,009 Est. Cost $58.29 Unrealized —

ALGN Align Technology 0.6%

Value $8.126M Shares 47,400 Est. Cost $174.67 Unrealized —

FOLD Amicus Therapeutics 0.6%

Value $7.723M Shares 534,079 Est. Cost $12.54 Unrealized —

HOLX Hologic 0.4%

Value $4.903M Shares 64,869 Est. Cost $75.02 Unrealized —

MASI Masimo Corp 0.3%

Value $4.057M Shares 22,811 Est. Cost $145.14 Unrealized —

WBD Warner Bros Discovery 0.2%

Value $2.964M Shares 107,939 Est. Cost $23.37 Unrealized —

RNR RenaissanceRe Holdings Ltd 0.2%

Value $2.905M Shares 9,774 Est. Cost $286.42 Unrealized —

HYG iShares iBoxx $ High Yield 0.2%

Value $2.826M Shares 35,518 Est. Cost $81.00 Unrealized —

AVR ANTERIS TECHNOLOGIES GLOBAL ORD 0.2%

Value $2.778M Shares 500,525 Est. Cost $5.58 Unrealized —

VERA VERA THERAPEUTICS CL A ORD 0.2%

Value $2.599M Shares 64,604 Est. Cost $44.97 Unrealized —

VIRT Virtu Financial 0.2%

Value $2.404M Shares 54,668 Est. Cost $37.41 Unrealized —

STZ Constellation Brands 0.2%

Value $2.325M Shares 15,500 Est. Cost $155.99 Unrealized —

TXG 10x Genomics 0.2%

Value $2.161M Shares 101,800 Est. Cost $19.85 Unrealized —

NFLX Netflix 0.2%

Value $2.14M Shares 22,260 Est. Cost $83.84 Unrealized —

BCRX BioCryst Pharmaceuticals 0.2%

Value $1.932M Shares 202,900 Est. Cost $7.00 Unrealized —

PEN Penumbra 0.2%

Value $1.93M Shares 5,879 Est. Cost $339.56 Unrealized —

MDLN Medline Inc 0.1%

Value $1.889M Shares 42,455 Est. Cost $44.84 Unrealized —

TARS Tarsus Pharmaceuticals 0.1%

Value $1.824M Shares 26,000 Est. Cost $52.40 Unrealized —

BSX Boston Scientific Corp 0.1%

Value $1.763M Shares 28,100 Est. Cost $85.82 Unrealized —

BUD Anheuser-Busch INBEV SA/NV 0.1%

Value $1.596M Shares 23,000 Est. Cost $69.37 Unrealized —

LQD iShares iBoxx $ Investment Grade 0.1%

Value $1.413M Shares 12,959 Est. Cost $111.18 Unrealized —

ACI ALBERTSONS COMPANIES CL A ORD 0.1%

Value $1.363M Shares 80,000 Est. Cost $17.38 Unrealized —

CAG Conagra Brands 0.1%

Value $1.205M Shares 76,628 Est. Cost $18.02 Unrealized —

MRVI Maravai LifeSciences Holdings 0.1%

Value $961K Shares 339,727 Est. Cost $3.47 Unrealized —

MCO Moody's Corp 0.1%

Value $921K Shares 2,111 Est. Cost $489.58 Unrealized —

EL Estee Lauder Companies (The) 0.1%

Value $871K Shares 12,130 Est. Cost $111.88 Unrealized —

LOW Lowe's Companies 0.1%

Value $827K Shares 3,500 Est. Cost $271.50 Unrealized —

CAH Cardinal Health 0.0%

Value $594K Shares 2,813 Est. Cost $215.31 Unrealized —

MBC MasterBrand 0.0%

Value $442K Shares 53,241 Est. Cost $12.15 Unrealized —

KRMN KARMAN HLDGS INC 0.0%

Value $343K Shares 4,281 Est. Cost $96.11 Unrealized —

GKOS Glaukos Corp 0.0%

Value $301K Shares 2,800 Est. Cost $95.54 Unrealized —

GDX VanEck Gold Miners ETF 0.0%

Value $275K Shares 3,000 Est. Cost $91.77 Unrealized —

TMO Thermo Fisher Scientific 0.0%

Value $265K Shares 540 Est. Cost $574.61 Unrealized —

ASC ARDMORE SHIPPING Corp 0.0%

Value $214K Shares 14,000 Est. Cost $11.89 Unrealized —

GOOG Alphabet Inc - Class C 0.0%

Value $207K Shares 721 Est. Cost $323.67 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NSC	Norfolk Southern Corp	61,117	$17.54M	1.4%	$294.27	—	—	655844108
PRI	PRIMERICA	68,041	$17.04M	1.3%	$261.23	—	—	74164M108
EA	Electronic Arts	75,898	$15.47M	1.2%	$202.11	—	—	285512109
PAHC	Phibro Animal Health Corp	267,045	$14.77M	1.2%	$36.67	—	—	71742Q106
ELVN	ENLIVEN THERAPEUTICS ORD	369,400	$14.48M	1.1%	$25.60	—	—	29337E102
GTLS	Chart Industries	56,989	$11.78M	0.9%	$204.49	—	—	16115Q308
TXNM	TXNM ENERGY ORD	151,009	$8.828M	0.7%	$58.29	—	—	69349H107
ALGN	Align Technology	47,400	$8.126M	0.6%	$174.67	—	—	016255101
FOLD	Amicus Therapeutics	534,079	$7.723M	0.6%	$12.54	—	—	03152W109
HOLX	Hologic	64,869	$4.903M	0.4%	$75.02	—	—	436440101
MASI	Masimo Corp	22,811	$4.057M	0.3%	$145.14	—	—	574795100
WBD	Warner Bros Discovery	107,939	$2.964M	0.2%	$23.37	—	—	934423104
RNR	RenaissanceRe Holdings Ltd	9,774	$2.905M	0.2%	$286.42	—	—	G7496G103
HYG	iShares iBoxx $ High Yield	35,518	$2.826M	0.2%	$81.00	—	—	464288513
AVR	ANTERIS TECHNOLOGIES GLOBAL ORD	500,525	$2.778M	0.2%	$5.58	—	—	03675P102
VERA	VERA THERAPEUTICS CL A ORD	64,604	$2.599M	0.2%	$44.97	—	—	92337R101
VIRT	Virtu Financial	54,668	$2.404M	0.2%	$37.41	—	—	928254101
STZ	Constellation Brands	15,500	$2.325M	0.2%	$155.99	—	—	21036P108
TXG	10x Genomics	101,800	$2.161M	0.2%	$19.85	—	—	88025U109
NFLX	Netflix	22,260	$2.14M	0.2%	$83.84	—	—	64110L106
BCRX	BioCryst Pharmaceuticals	202,900	$1.932M	0.2%	$7.00	—	—	09058V103
PEN	Penumbra	5,879	$1.93M	0.2%	$339.56	—	—	70975L107
MDLN	Medline Inc	42,455	$1.889M	0.1%	$44.84	—	—	58507V107
TARS	Tarsus Pharmaceuticals	26,000	$1.824M	0.1%	$52.40	—	—	87650L103
BSX	Boston Scientific Corp	28,100	$1.763M	0.1%	$85.82	—	—	101137107
BUD	Anheuser-Busch INBEV SA/NV	23,000	$1.596M	0.1%	$69.37	—	—	03524A108
LQD	iShares iBoxx $ Investment Grade	12,959	$1.413M	0.1%	$111.18	—	—	464287242
ACI	ALBERTSONS COMPANIES CL A ORD	80,000	$1.363M	0.1%	$17.38	—	—	013091103
CAG	Conagra Brands	76,628	$1.205M	0.1%	$18.02	—	—	205887102
MRVI	Maravai LifeSciences Holdings	339,727	$961K	0.1%	$3.47	—	—	56600D107
MCO	Moody's Corp	2,111	$921K	0.1%	$489.58	—	—	615369105
EL	Estee Lauder Companies (The)	12,130	$871K	0.1%	$111.88	—	—	518439104
LOW	Lowe's Companies	3,500	$827K	0.1%	$271.50	—	—	548661107
CAH	Cardinal Health	2,813	$594K	0.0%	$215.31	—	—	14149Y108
MBC	MasterBrand	53,241	$442K	0.0%	$12.15	—	—	57638P104
KRMN	KARMAN HLDGS INC	4,281	$343K	0.0%	$96.11	—	—	485924104
GKOS	Glaukos Corp	2,800	$301K	0.0%	$95.54	—	—	377322102
GDX	VanEck Gold Miners ETF	3,000	$275K	0.0%	$91.77	—	—	92189F106
TMO	Thermo Fisher Scientific	540	$265K	0.0%	$574.61	—	—	883556102
ASC	ARDMORE SHIPPING Corp	14,000	$214K	0.0%	$11.89	—	—	Y0207T100
GOOG	Alphabet Inc - Class C	721	$207K	0.0%	$323.67	—	—	02079K107

Decreased Positions (25)

ADPT Adaptive Biotechnologies Corp 0.0%

Value $487K (-97.3%) Shares 22,693 (-98.2%) Est. Cost $16.99 Unrealized —

ZYME Zymeworks 1.0%

Value $12.72M (-49.6%) Shares 486,529 (-51.7%) Est. Cost $21.81 Unrealized —

NVST Envista Holdings Corp 0.7%

Value $8.406M (-55.6%) Shares 319,028 (-57.2%) Est. Cost $25.74 Unrealized —

LQDA Liquidia Corp 1.1%

Value $14.53M (+55.6%) Shares 182,205 (-26.4%) Est. Cost $37.92 Unrealized —

HOOD Robinhood Markets 0.3%

Value $3.379M (-60.5%) Shares 33,700 (-72.7%) Est. Cost $95.75 Unrealized —

QSR Restaurant Brands International 0.0%

Value $369K (-92.3%) Shares 5,089 (-92.2%) Est. Cost $64.48 Unrealized —

PFE Pfizer 0.0%

Value $533K (-88.5%) Shares 22,130 (-86.6%) Est. Cost $25.03 Unrealized —

A Agilent Technologies 0.3%

Value $4.08M (-50.0%) Shares 30,717 (-57.1%) Est. Cost $134.76 Unrealized —

KFS KINGSWAY CORPORATION 1.2%

Value $14.7M (-21.0%) Shares 1,410,526 (-21.0%) Est. Cost $12.87 Unrealized —

PEP PepsiCo 0.4%

Value $4.535M (-45.4%) Shares 33,496 (-37.4%) Est. Cost $145.20 Unrealized —

COCO Vita Coco Company (The) 0.1%

Value $992K (-78.2%) Shares 15,000 (-84.2%) Est. Cost $54.73 Unrealized —

APO Apollo Global Management 0.3%

Value $3.638M (-36.0%) Shares 30,751 (-39.7%) Est. Cost $135.05 Unrealized —

LUXE LUXEXPERIENCE ADS REP ORD 0.5%

Value $6.773M (-16.9%) Shares 910,372 (-11.0%) Est. Cost $7.47 Unrealized —

AXGN Axogen 1.7%

Value $21.47M (-5.7%) Shares 464,863 (-32.4%) Est. Cost $33.29 Unrealized —

ROST Ross Stores 0.3%

Value $3.938M (-21.0%) Shares 18,500 (-19.6%) Est. Cost $192.38 Unrealized —

ALAB ASTERA LABS ORD 0.1%

Value $1.622M (+160.2%) Shares 3,359 (-41.0%) Est. Cost $167.29 Unrealized —

BTSG BRIGHTSPRING HEALTH SVCS INC 0.4%

Value $5.491M (+21.3%) Shares 78,718 (-25.9%) Est. Cost $33.88 Unrealized —

AXTA Axalta Coating Systems Ltd 0.0%

Value $577K (-54.2%) Shares 16,869 (-62.9%) Est. Cost $29.34 Unrealized —

RL Ralph Lauren Corp 0.3%

Value $3.967M (-13.2%) Shares 9,882 (-25.6%) Est. Cost $363.10 Unrealized —

WAY WAYSTAR HOLDING ORD 0.1%

Value $692K (-37.2%) Shares 33,718 (-26.2%) Est. Cost $36.61 Unrealized —

TEX Terex Corp 0.2%

Value $2.945M (+13.5%) Shares 40,684 (-7.3%) Est. Cost $50.50 Unrealized —

BAC Bank of America Corp 2.1%

Value $26.07M (-0.4%) Shares 457,455 (-14.8%) Est. Cost $53.44 Unrealized —

LIFE Ethos Technologies Inc. 0.0%

Value $367K (+38.6%) Shares 20,234 (-14.6%) Est. Cost $11.17 Unrealized —

BETA BETA TECHNOLOGIES CL A ORD 0.1%

Value $1.299M (+5.6%) Shares 77,550 (-7.3%) Est. Cost $24.33 Unrealized —

RKT Rocket Companies 0.0%

Value $293K (+2.4%) Shares 18,594 (-7.3%) Est. Cost $20.15 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ADPT	Adaptive Biotechnologies Corp	22,693 (-98.2%)	$487K (-97.3%)	0.0%	$16.99	—	COM	00650F109
ZYME	Zymeworks	486,529 (-51.7%)	$12.72M (-49.6%)	1.0%	$21.81	—	COM	98985Y108
NVST	Envista Holdings Corp	319,028 (-57.2%)	$8.406M (-55.6%)	0.7%	$25.74	—	COM	29415F104
LQDA	Liquidia Corp	182,205 (-26.4%)	$14.53M (+55.6%)	1.1%	$37.92	—	COM NEW	53635D202
HOOD	Robinhood Markets	33,700 (-72.7%)	$3.379M (-60.5%)	0.3%	$95.75	—	COM CL A	770700102
QSR	Restaurant Brands International	5,089 (-92.2%)	$369K (-92.3%)	0.0%	$64.48	—	COM CL A	76131D103
PFE	Pfizer	22,130 (-86.6%)	$533K (-88.5%)	0.0%	$25.03	—	CL A COM	717081103
A	Agilent Technologies	30,717 (-57.1%)	$4.08M (-50.0%)	0.3%	$134.76	—	COM	00846U101
KFS	KINGSWAY CORPORATION	1,410,526 (-21.0%)	$14.7M (-21.0%)	1.2%	$12.87	—	COM NEW	496904202
PEP	PepsiCo	33,496 (-37.4%)	$4.535M (-45.4%)	0.4%	$145.20	—	COM	713448108
COCO	Vita Coco Company (The)	15,000 (-84.2%)	$992K (-78.2%)	0.1%	$54.73	—	COM	92846Q107
APO	Apollo Global Management	30,751 (-39.7%)	$3.638M (-36.0%)	0.3%	$135.05	—	COM	03769M106
LUXE	LUXEXPERIENCE ADS REP ORD	910,372 (-11.0%)	$6.773M (-16.9%)	0.5%	$7.47	—	ADS	55406W103
AXGN	Axogen	464,863 (-32.4%)	$21.47M (-5.7%)	1.7%	$33.29	—	COM	05463X106
ROST	Ross Stores	18,500 (-19.6%)	$3.938M (-21.0%)	0.3%	$192.38	—	COM SHS	778296103
ALAB	ASTERA LABS ORD	3,359 (-41.0%)	$1.622M (+160.2%)	0.1%	$167.29	—	COM	04626A103
BTSG	BRIGHTSPRING HEALTH SVCS INC	78,718 (-25.9%)	$5.491M (+21.3%)	0.4%	$33.88	—	COM	10950A106
AXTA	Axalta Coating Systems Ltd	16,869 (-62.9%)	$577K (-54.2%)	0.0%	$29.34	—	COM	G0750C108
RL	Ralph Lauren Corp	9,882 (-25.6%)	$3.967M (-13.2%)	0.3%	$363.10	—	COM	751212101
WAY	WAYSTAR HOLDING ORD	33,718 (-26.2%)	$692K (-37.2%)	0.1%	$36.61	—	COM	946784105
TEX	Terex Corp	40,684 (-7.3%)	$2.945M (+13.5%)	0.2%	$50.50	—	COM	880779103
BAC	Bank of America Corp	457,455 (-14.8%)	$26.07M (-0.4%)	2.1%	$53.44	—	COM	060505104
LIFE	Ethos Technologies Inc.	20,234 (-14.6%)	$367K (+38.6%)	0.0%	$11.17	—	CL A	29765A101
BETA	BETA TECHNOLOGIES CL A ORD	77,550 (-7.3%)	$1.299M (+5.6%)	0.1%	$24.33	—	COM SHS CL A	086921103
RKT	Rocket Companies	18,594 (-7.3%)	$293K (+2.4%)	0.0%	$20.15	—	SHS	77311W101

Unchanged Positions (18)

MXCT MaxCyte 0.8%

Value $10.09M Shares 8,200,000 Est. Cost $1.04 Unrealized —

GOOGL Alphabet Inc - Class A 0.9%

Value $11.1M Shares 31,067 Est. Cost $157.43 Unrealized —

KSPI JSC KASPI GLOBAL SPON ADS REP ORD 0.8%

Value $10.3M Shares 118,900 Est. Cost $81.87 Unrealized —

AMZN Amazon.com 0.8%

Value $10.64M Shares 44,648 Est. Cost $199.98 Unrealized —

ABBV ABBVIE 0.5%

Value $6.894M Shares 27,397 Est. Cost $222.57 Unrealized —

BRK/B Berkshire Hathaway 0.9%

Value $11.24M Shares 22,468 Est. Cost $409.48 Unrealized —

IBIT ISHARES BITCOIN ETF 0.1%

Value $999K Shares 30,000 Est. Cost $53.01 Unrealized —

BORR Borr Drilling Limited 0.0%

Value $372K Shares 90,000 Est. Cost $3.31 Unrealized —

BN Brookfield Corp 0.2%

Value $2.875M Shares 67,500 Est. Cost $44.23 Unrealized —

META Meta Platforms 0.6%

Value $7.604M Shares 13,500 Est. Cost $529.07 Unrealized —

TDW Tidewater 0.0%

Value $366K Shares 5,500 Est. Cost $64.06 Unrealized —

MSFT Microsoft Corp 1.0%

Value $12.06M Shares 32,343 Est. Cost $427.36 Unrealized —

NE Noble Corp 0.0%

Value $257K Shares 6,900 Est. Cost $37.17 Unrealized —

EGY Vaalco Energy 0.0%

Value $305K Shares 60,000 Est. Cost $4.62 Unrealized —

BUR Burford Capital Limited 0.0%

Value $554K Shares 135,000 Est. Cost $12.33 Unrealized —

PATH UiPath 0.1%

Value $1.424M Shares 131,000 Est. Cost $13.48 Unrealized —

HEPS D MARKET ELECTRONIC SERVICES TRA ADR 0.0%

Value $84,928 Shares 29,185 Est. Cost $2.26 Unrealized —

WTI W&T Offshore 0.0%

Value $31,500 Shares 10,000 Est. Cost $2.10 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MXCT	MaxCyte	8,200,000	$10.09M	0.8%	$1.04	—	COM	57777K106
GOOGL	Alphabet Inc - Class A	31,067	$11.1M	0.9%	$157.43	—	CAP STK CL A	02079K305
KSPI	JSC KASPI GLOBAL SPON ADS REP ORD	118,900	$10.3M	0.8%	$81.87	—	SPONSORED ADS	48581R205
AMZN	Amazon.com	44,648	$10.64M	0.8%	$199.98	—	COM	023135106
ABBV	ABBVIE	27,397	$6.894M	0.5%	$222.57	—	COM	00287Y109
BRK/B	Berkshire Hathaway	22,468	$11.24M	0.9%	$409.48	—	CL B NEW	084670702
IBIT	ISHARES BITCOIN ETF	30,000	$999K	0.1%	$53.01	—	SHS BEN INT	46438F101
BORR	Borr Drilling Limited	90,000	$372K	0.0%	$3.31	—	SHS	G1466R173
BN	Brookfield Corp	67,500	$2.875M	0.2%	$44.23	—	CL A LTD VT SH	11271J107
META	Meta Platforms	13,500	$7.604M	0.6%	$529.07	—	CL A	30303M102
TDW	Tidewater	5,500	$366K	0.0%	$64.06	—	COM	88642R109
MSFT	Microsoft Corp	32,343	$12.06M	1.0%	$427.36	—	COM	594918104
NE	Noble Corp	6,900	$257K	0.0%	$37.17	—	ORD SHS A	G65431127
EGY	Vaalco Energy	60,000	$305K	0.0%	$4.62	—	COM NEW	91851C201
BUR	Burford Capital Limited	135,000	$554K	0.0%	$12.33	—	ORD SHS	G17977110
PATH	UiPath	131,000	$1.424M	0.1%	$13.48	—	NAMEN AKT A	90364P105
HEPS	D MARKET ELECTRONIC SERVICES TRA ADR	29,185	$84,928	0.0%	$2.26	—	SPONSORED ADS	23292B104
WTI	W&T Offshore	10,000	$31,500	0.0%	$2.10	—	COM	92922P106