Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SITM	SiTime Corp	16,000	$11.93M	6.6%	—	—	COM	82982T106
DIOD	Diodes Inc	93,000	$10.18M	5.6%	—	—	COM	254543101
AEIS	Advanced Energy Industries Inc	26,000	$9.695M	5.3%	—	—	COM	007973100
MTZ	MasTec Inc	19,000	$7.905M	4.4%	—	—	COM	576323109
WDC	Western Digital Corp	12,000	$7.665M	4.2%	—	—	COM	958102105
Q	Qnity Electronics Inc	33,000	$5.389M	3.0%	—	—	COMMON STOCK	74743L100
FORM	FormFactor Inc	33,000	$5.278M	2.9%	—	—	COM	346375108
MU	Micron Technology Inc	4,000	$4.617M	2.5%	—	—	COM	595112103
VSH	Vishay Intertechnology Inc	76,000	$4.087M	2.3%	—	—	COM	928298108
AXTI	AXT Inc	50,000	$3.604M	2.0%	—	—	COM	00246W103
SHLS	Shoals Technologies Group Inc	250,000	$2.475M	1.4%	—	—	CL A	82489W107
NVDS	Investment Managers Ser Tr I	60,000	$1.364M	0.8%	—	—	Tradr 1.5x Short	46144X115
BLZE	Backblaze Inc	75,000	$1.19M	0.7%	—	—	COM CL A	05637B105
—	Direxion Shares ETF Trust	125	$288K	0.2%	—	—	PUT	25459W958

Increased Positions (7)

CLS Celestica Inc 9.2%

Value $16.78M (+86.2%) Shares 46,000 (+43.8%) Est. Cost — Unrealized —

TTMI TTM Technologies Inc 5.5%

Value $9.912M (+199.3%) Shares 53,000 (+55.9%) Est. Cost — Unrealized —

FN Fabrinet 10.5%

Value $19.11M (+46.6%) Shares 34,000 (+36.0%) Est. Cost — Unrealized —

FIX Comfort Systems USA Inc 7.8%

Value $14.07M (+67.3%) Shares 7,100 (+16.4%) Est. Cost — Unrealized —

AVPT Avepoint Inc 2.9%

Value $5.269M (+191.6%) Shares 470,000 (+147.4%) Est. Cost — Unrealized —

OSPN OneSpan Inc 0.6%

Value $1.1M (+230.1%) Shares 76,641 (+142.2%) Est. Cost — Unrealized —

CCC CCC Intelligent Solutions Holdings Inc 0.4%

Value $774K (+17.3%) Shares 150,000 (+36.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CLS	Celestica Inc	46,000 (+43.8%)	$16.78M (+86.2%)	9.2%	—	—	COM	15101Q207
TTMI	TTM Technologies Inc	53,000 (+55.9%)	$9.912M (+199.3%)	5.5%	—	—	COM	87305R109
FN	Fabrinet	34,000 (+36.0%)	$19.11M (+46.6%)	10.5%	—	—	SHS	G3323L100
FIX	Comfort Systems USA Inc	7,100 (+16.4%)	$14.07M (+67.3%)	7.8%	—	—	COM	199908104
AVPT	Avepoint Inc	470,000 (+147.4%)	$5.269M (+191.6%)	2.9%	—	—	COM CL A	053604104
OSPN	OneSpan Inc	76,641 (+142.2%)	$1.1M (+230.1%)	0.6%	—	—	COM	68287N100
CCC	CCC Intelligent Solutions Holdings Inc	150,000 (+36.4%)	$774K (+17.3%)	0.4%	—	—	COM	12510Q100

Exited Positions (13)

BL Blackline Inc 3.1%

Value $5.666M Shares 153,143 Est. Cost — Unrealized —

AAOI Applied Optoelectronics Inc 2.8%

Value $5.016M Shares 59,301 Est. Cost — Unrealized —

TER Teradyne Inc 2.3%

Value $4.15M Shares 14,000 Est. Cost — Unrealized —

CAMT Camtek Ltd 2.0%

Value $3.563M Shares 23,500 Est. Cost — Unrealized —

NFLX Netflix Inc 1.7%

Value $3.173M Shares 33,000 Est. Cost — Unrealized —

COHR Coherent Corp 1.7%

Value $3.097M Shares 13,000 Est. Cost — Unrealized —

SMTC Semtech Corp 1.7%

Value $3.076M Shares 40,000 Est. Cost — Unrealized —

BE Bloom Energy Corp 1.1%

Value $2.032M Shares 15,000 Est. Cost — Unrealized —

POWI Power Integrations Inc 1.0%

Value $1.792M Shares 35,000 Est. Cost — Unrealized —

BRZE Braze Inc 0.4%

Value $708K Shares 30,000 Est. Cost — Unrealized —

VERX Vertex Inc 0.4%

Value $654K Shares 55,000 Est. Cost — Unrealized —

WEAV Weave Communications Inc 0.3%

Value $481K Shares 104,188 Est. Cost — Unrealized —

— Braze Inc 0.0%

Value $19,250 Shares 100 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BL	Blackline Inc	153,143	$5.666M	3.1%	—	—	—	09239B109
AAOI	Applied Optoelectronics Inc	59,301	$5.016M	2.8%	—	—	—	03823U102
TER	Teradyne Inc	14,000	$4.15M	2.3%	—	—	—	880770102
CAMT	Camtek Ltd	23,500	$3.563M	2.0%	—	—	—	M20791105
NFLX	Netflix Inc	33,000	$3.173M	1.7%	—	—	—	64110L106
COHR	Coherent Corp	13,000	$3.097M	1.7%	—	—	—	19247G107
SMTC	Semtech Corp	40,000	$3.076M	1.7%	—	—	—	816850101
BE	Bloom Energy Corp	15,000	$2.032M	1.1%	—	—	—	093712107
POWI	Power Integrations Inc	35,000	$1.792M	1.0%	—	—	—	739276103
BRZE	Braze Inc	30,000	$708K	0.4%	—	—	—	10576N102
VERX	Vertex Inc	55,000	$654K	0.4%	—	—	—	92538J106
WEAV	Weave Communications Inc	104,188	$481K	0.3%	—	—	—	94724R108
—	Braze Inc	100	$19,250	0.0%	—	—	CALL	10576N902

Decreased Positions (4)

LGN Legence Corp 2.4%

Value $4.347M (-48.7%) Shares 51,000 (-66.0%) Est. Cost — Unrealized —

SIMO Silicon Motion Technology Corp 4.4%

Value $8M (+82.7%) Shares 24,000 (-38.5%) Est. Cost — Unrealized —

CGNT Cognyte Software Ltd 1.1%

Value $2.051M (-53.9%) Shares 233,619 (-57.4%) Est. Cost — Unrealized —

VRT Vertiv Holdings Co 4.1%

Value $7.366M (+22.5%) Shares 22,000 (-8.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LGN	Legence Corp	51,000 (-66.0%)	$4.347M (-48.7%)	2.4%	—	—	CL A	52476L109
SIMO	Silicon Motion Technology Corp	24,000 (-38.5%)	$8M (+82.7%)	4.4%	—	—	SPONSORED ADR	82706C108
CGNT	Cognyte Software Ltd	233,619 (-57.4%)	$2.051M (-53.9%)	1.1%	—	—	ORD SHS	M25133105
VRT	Vertiv Holdings Co	22,000 (-8.3%)	$7.366M (+22.5%)	4.1%	—	—	COM CL A	92537N108

Unchanged Positions (2)

ONTO Onto Innovation Inc 7.5%

Value $13.62M Shares 36,000 Est. Cost — Unrealized —

HWM Howmet Aerospace Inc 1.9%

Value $3.495M Shares 13,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ONTO	Onto Innovation Inc	36,000	$13.62M	7.5%	—	—	COM	683344105
HWM	Howmet Aerospace Inc	13,000	$3.495M	1.9%	—	—	COM	443201108