Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GDS	GDS HLDGS LTD	1,230,580	$49.58M	2.4%	$40.29	—	SPONSORED ADS	36165L108
NTRA	NATERA INC	152,100	$30.42M	1.5%	$225.87	0.0%	COM	632307104
DASH	DOORDASH INC	198,920	$29.87M	1.4%	$196.68	0.0%	CL A	25809K105
HUT	HUT 8 CORP	358,900	$16.84M	0.8%	$56.58	0.0%	COM	44812J104
COMP	COMPASS INC	2,107,997	$15.41M	0.7%	$11.75	0.0%	CL A	20464U100

Increased Positions (11)

STX SEAGATE TECHNOLOGY HLDNGS PL 7.1%

Value $149M (+77.9%) Shares 379,430 (+25.0%) Est. Cost $152.98 Unrealized +146.1%

META META PLATFORMS INC 4.0%

Value $83.55M (+190.0%) Shares 146,040 (+234.6%) Est. Cost $625.74 Unrealized +4.8%

BA BOEING CO 3.9%

Value $81.87M (+121.9%) Shares 411,343 (+142.1%) Est. Cost $224.96 Unrealized +6.0%

AVGO BROADCOM INC 3.5%

Value $73.4M (+95.0%) Shares 237,140 (+118.0%) Est. Cost $321.13 Unrealized +4.1%

AMZN AMAZON COM INC 11.8%

Value $246M (+10.3%) Shares 1,181,905 (+22.2%) Est. Cost $183.01 Unrealized +23.9%

TSM TAIWAN SEMICONDUCTOR MANUFAC 6.8%

Value $141M (+17.1%) Shares 416,360 (+5.3%) Est. Cost $160.12 Unrealized —

CVNA CARVANA CO 3.4%

Value $70.45M (-22.0%) Shares 224,080 (+4.6%) Est. Cost $208.05 Unrealized +96.3%

MSFT MICROSOFT CORP 7.1%

Value $148M (-11.5%) Shares 399,180 (+15.7%) Est. Cost $383.88 Unrealized +13.2%

GOOGL ALPHABET INC 2.5%

Value $52.57M (+31.7%) Shares 182,800 (+43.4%) Est. Cost $297.00 Unrealized +8.9%

NVDA NVIDIA CORPORATION 9.4%

Value $196M (+4.2%) Shares 1,125,510 (+11.4%) Est. Cost $101.10 Unrealized +84.6%

SGI SOMNIGROUP INTERNATIONAL INC 6.0%

Value $125M (-3.5%) Shares 1,688,893 (+16.5%) Est. Cost $56.65 Unrealized +62.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
STX	SEAGATE TECHNOLOGY HLDNGS PL	379,430 (+25.0%)	$149M (+77.9%)	7.1%	$152.98	+146.1%	ORD SHS	G7997R103
META	META PLATFORMS INC	146,040 (+234.6%)	$83.55M (+190.0%)	4.0%	$625.74	+4.8%	CL A	30303M102
BA	BOEING CO	411,343 (+142.1%)	$81.87M (+121.9%)	3.9%	$224.96	+6.0%	COM	097023105
AVGO	BROADCOM INC	237,140 (+118.0%)	$73.4M (+95.0%)	3.5%	$321.13	+4.1%	COM	11135F101
AMZN	AMAZON COM INC	1,181,905 (+22.2%)	$246M (+10.3%)	11.8%	$183.01	+23.9%	COM	023135106
TSM	TAIWAN SEMICONDUCTOR MANUFAC	416,360 (+5.3%)	$141M (+17.1%)	6.8%	$160.12	—	SPONSORED ADS	874039100
CVNA	CARVANA CO	224,080 (+4.6%)	$70.45M (-22.0%)	3.4%	$208.05	+96.3%	CL A	146869102
MSFT	MICROSOFT CORP	399,180 (+15.7%)	$148M (-11.5%)	7.1%	$383.88	+13.2%	COM	594918104
GOOGL	ALPHABET INC	182,800 (+43.4%)	$52.57M (+31.7%)	2.5%	$297.00	+8.9%	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	1,125,510 (+11.4%)	$196M (+4.2%)	9.4%	$101.10	+84.6%	COM	67066G104
SGI	SOMNIGROUP INTERNATIONAL INC	1,688,893 (+16.5%)	$125M (-3.5%)	6.0%	$56.65	+62.4%	COM	88023U101

Exited Positions (5)

— CYBERARK SOFTWARE LTD 5.5%

Value $115M Shares 258,887 Est. Cost $219.05 Unrealized —

ADSK AUTODESK INC 3.9%

Value $80.13M Shares 270,700 Est. Cost $290.51 Unrealized -12.7%

SATS ECHOSTAR CORP 2.4%

Value $50.5M Shares 464,600 Est. Cost $81.43 Unrealized +42.9%

SE SEA LTD 2.1%

Value $44.42M Shares 348,214 Est. Cost $164.99 Unrealized —

RKT ROCKET COS INC 1.0%

Value $21.82M Shares 1,127,013 Est. Cost $17.88 Unrealized +12.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	CYBERARK SOFTWARE LTD	258,887	$115M	5.5%	$219.05	—	—	M2682V108
ADSK	AUTODESK INC	270,700	$80.13M	3.9%	$290.51	-12.7%	—	052769106
SATS	ECHOSTAR CORP	464,600	$50.5M	2.4%	$81.43	+42.9%	—	278768106
SE	SEA LTD	348,214	$44.42M	2.1%	$164.99	—	—	81141R100
RKT	ROCKET COS INC	1,127,013	$21.82M	1.0%	$17.88	+12.7%	—	77311W101

Decreased Positions (4)

MDB MONGODB INC 3.2%

Value $65.86M (-47.5%) Shares 269,072 (-10.1%) Est. Cost $265.76 Unrealized +41.6%

LITE LUMENTUM HLDGS INC 6.8%

Value $142M (+69.1%) Shares 202,037 (-11.3%) Est. Cost $79.95 Unrealized +484.3%

AS AMER SPORTS INC 6.9%

Value $143M (-17.2%) Shares 4,355,512 (-6.1%) Est. Cost $25.95 Unrealized +47.2%

NU NU HLDGS LTD 3.4%

Value $71.35M (-26.1%) Shares 4,965,100 (-13.9%) Est. Cost $12.93 Unrealized +34.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MDB	MONGODB INC	269,072 (-10.1%)	$65.86M (-47.5%)	3.2%	$265.76	+41.6%	CL A	60937P106
LITE	LUMENTUM HLDGS INC	202,037 (-11.3%)	$142M (+69.1%)	6.8%	$79.95	+484.3%	COM	55024U109
AS	AMER SPORTS INC	4,355,512 (-6.1%)	$143M (-17.2%)	6.9%	$25.95	+47.2%	COM SHS	G0260P102
NU	NU HLDGS LTD	4,965,100 (-13.9%)	$71.35M (-26.1%)	3.4%	$12.93	+34.1%	ORD SHS CL A	G6683N103

Unchanged Positions (2)

UAL UNITED AIRLS HLDGS INC 4.8%

Value $99.12M Shares 1,076,600 Est. Cost $78.42 Unrealized +42.4%

WDC WESTERN DIGITAL CORP 2.5%

Value $51.15M Shares 189,100 Est. Cost $48.74 Unrealized +415.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UAL	UNITED AIRLS HLDGS INC	1,076,600	$99.12M	4.8%	$78.42	+42.4%	COM	910047109
WDC	WESTERN DIGITAL CORP	189,100	$51.15M	2.5%	$48.74	+415.5%	COM	958102105