ABS Direct Equity Fund LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CX	CEMEX SAB DE CV	492,700	$5,661	6.7%	$11.49	—	SPON ADR NEW	151290889
TGS	TRANSPORTADORA DE GAS SUR	52,093	$1,620	1.9%	$31.09	—	SPONSORED ADS B	893870204
LTM	LATAM AIRLINES GROUP SA	26,457	$1,429	1.7%	$54.01	—	SPONSORED ADR	51817R205
LOMA	LOMA NEGRA C I A S A MTN 14	103,990	$1,347	1.6%	$12.95	—	SPONSORED ADS	54150E104
MELI	MERCADOLIBRE INC	510	$1,027	1.2%	$2100.46	0.0%	COM	58733R102
CSR	CENTERSPACE	10,807	$721	0.9%	$66.72	—	COM	15202L107
DHI	D R HORTON INC	5,000	$720	0.9%	$152.01	0.0%	COM	23331A109
INVH	INVITATION HOMES INC	13,526	$376	0.4%	$27.64	0.0%	COM	46187W107
RGLD	ROYAL GOLD INC	1,069	$238	0.3%	$198.37	0.0%	COM	780287108
RNTX	REIN THERAPEUTICS INC	125,000	$145	0.2%	$1.38	0.0%	COM NEW	00887A204
ACTU	ACTUATE THERAPEUTICS INC	6,597	$40	0.0%	$6.87	0.0%	COM	005083100

Increased Positions (13)

AMX AMERICA MOVIL SAB DE CV 6.7%

Value ($000) $5,659 (+1523.5%) Shares 273,800 (+1549.4%) Est. Cost $20.69 Unrealized —

PAR PAR TECHNOLOGY CORP 5.6%

Value ($000) $4,716 (+58.9%) Shares 130,000 (+73.3%) Est. Cost $42.28 Unrealized -14.7%

KSPI KASPI KZ JSC 4.5%

Value ($000) $3,804 (+35.8%) Shares 48,685 (+42.0%) Est. Cost $88.58 Unrealized —

PAM PAMPA ENERGIA S A 2.7%

Value ($000) $2,311 (+64.8%) Shares 26,105 (+11.8%) Est. Cost $78.91 Unrealized —

POWL POWELL INDS INC 3.8%

Value ($000) $3,188 (+39.4%) Shares 10,000 (+33.3%) Est. Cost $274.58 Unrealized +22.6%

PDD PDD HOLDINGS INC 7.8%

Value ($000) $6,523 (+14.7%) Shares 57,530 (+33.7%) Est. Cost $128.56 Unrealized —

GFF GRIFFON CORP 4.4%

Value ($000) $3,683 (+20.9%) Shares 50,000 (+25.0%) Est. Cost $58.27 Unrealized +27.4%

ALTG ALTA EQUIPMENT GROUP INC 1.0%

Value ($000) $851 (-32.8%) Shares 185,000 (+5.7%) Est. Cost $10.01 Unrealized -45.1%

KOF COCA-COLA FEMSA SAB DE CV 2.3%

Value ($000) $1,899 (+20.9%) Shares 20,050 (+6.1%) Est. Cost $88.97 Unrealized —

EEFT EURONET WORLDWIDE INC 3.9%

Value ($000) $3,236 (-7.9%) Shares 42,520 (+6.3%) Est. Cost $89.35 Unrealized -12.7%

OMAB GRUPO AEROPORTUARIO DEL CENT 1.8%

Value ($000) $1,485 (+10.8%) Shares 13,650 (+5.8%) Est. Cost $77.49 Unrealized —

XPOF XPONENTIAL FITNESS INC 1.8%

Value ($000) $1,481 (+8.7%) Shares 180,000 (+2.9%) Est. Cost $13.10 Unrealized -45.8%

LEGN LEGEND BIOTECH CORP 1.2%

Value ($000) $1,026 (-4.9%) Shares 47,200 (+42.6%) Est. Cost $30.29 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMX	AMERICA MOVIL SAB DE CV	273,800 (+1549.4%)	$5,659 (+1523.5%)	6.7%	$20.69	—	SPON ADS RP CL B	02390A101
PAR	PAR TECHNOLOGY CORP	130,000 (+73.3%)	$4,716 (+58.9%)	5.6%	$42.28	-14.7%	COM	698884103
KSPI	KASPI KZ JSC	48,685 (+42.0%)	$3,804 (+35.8%)	4.5%	$88.58	—	SPONSORED ADS	48581R205
PAM	PAMPA ENERGIA S A	26,105 (+11.8%)	$2,311 (+64.8%)	2.7%	$78.91	—	SPONS ADR LVL I	697660207
POWL	POWELL INDS INC	10,000 (+33.3%)	$3,188 (+39.4%)	3.8%	$274.58	+22.6%	COM	739128106
PDD	PDD HOLDINGS INC	57,530 (+33.7%)	$6,523 (+14.7%)	7.8%	$128.56	—	SPONSORED ADS	722304102
GFF	GRIFFON CORP	50,000 (+25.0%)	$3,683 (+20.9%)	4.4%	$58.27	+27.4%	COM	398433102
ALTG	ALTA EQUIPMENT GROUP INC	185,000 (+5.7%)	$851 (-32.8%)	1.0%	$10.01	-45.1%	COMMON STOCK	02128L106
KOF	COCA-COLA FEMSA SAB DE CV	20,050 (+6.1%)	$1,899 (+20.9%)	2.3%	$88.97	—	SPONS ADS REP	191241108
EEFT	EURONET WORLDWIDE INC	42,520 (+6.3%)	$3,236 (-7.9%)	3.9%	$89.35	-12.7%	COM	298736109
OMAB	GRUPO AEROPORTUARIO DEL CENT	13,650 (+5.8%)	$1,485 (+10.8%)	1.8%	$77.49	—	SPON ADR	400501102
XPOF	XPONENTIAL FITNESS INC	180,000 (+2.9%)	$1,481 (+8.7%)	1.8%	$13.10	-45.8%	COM CL A	98422X101
LEGN	LEGEND BIOTECH CORP	47,200 (+42.6%)	$1,026 (-4.9%)	1.2%	$30.29	—	SPONSORED ADS	52490G102

Exited Positions (4)

GGAL GRUPO FINANCIERO GALICIA S.A 1.5%

Value ($000) $1,296 Shares 47,030 Est. Cost $44.56 Unrealized —

AIOT POWERFLEET INC 0.9%

Value ($000) $728 Shares 139,000 Est. Cost $4.94 Unrealized +3.6%

LEGH LEGACY HOUSING CORP 0.8%

Value ($000) $688 Shares 25,000 Est. Cost $21.32 Unrealized +0.5%

SWIM LATHAM GROUP INC 0.5%

Value ($000) $381 Shares 50,000 Est. Cost $4.33 Unrealized +61.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GGAL	GRUPO FINANCIERO GALICIA S.A	47,030	$1,296	1.5%	$44.56	—	—	399909100
AIOT	POWERFLEET INC	139,000	$728	0.9%	$4.94	+3.6%	—	73931J109
LEGH	LEGACY HOUSING CORP	25,000	$688	0.8%	$21.32	+0.5%	—	52472M101
SWIM	LATHAM GROUP INC	50,000	$381	0.5%	$4.33	+61.6%	—	51819L107

Decreased Positions (8)

FMX FOMENTO ECONOMICO MEXICANO S 7.9%

Value ($000) $6,677 (-25.0%) Shares 66,060 (-26.8%) Est. Cost $118.72 Unrealized —

PRKS UNITED PARKS & RESORTS INC 2.2%

Value ($000) $1,815 (-49.8%) Shares 50,000 (-28.6%) Est. Cost $51.12 Unrealized -18.7%

ASR GRUPO AEROPORTUARIO DEL SURE 2.6%

Value ($000) $2,189 (-39.2%) Shares 6,770 (-39.2%) Est. Cost $323.33 Unrealized —

PAC GRUPO AEROPUERTO DEL PACIFIC 3.2%

Value ($000) $2,705 (-20.7%) Shares 10,260 (-28.7%) Est. Cost $203.41 Unrealized —

BMA BANCO MACRO SA 1.7%

Value ($000) $1,470 (+13.8%) Shares 16,300 (-46.6%) Est. Cost $46.31 Unrealized —

FLYW FLYWIRE CORPORATION 5.4%

Value ($000) $4,531 (+3.0%) Shares 320,000 (-1.5%) Est. Cost $12.22 Unrealized +12.0%

PHIN PHINIA INC 3.4%

Value ($000) $2,821 (-1.8%) Shares 45,000 (-10.0%) Est. Cost $43.84 Unrealized +25.7%

VTMX VESTA REAL ESTATE CORP 1.3%

Value ($000) $1,122 (-2.8%) Shares 36,800 (-9.8%) Est. Cost $27.83 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FMX	FOMENTO ECONOMICO MEXICANO S	66,060 (-26.8%)	$6,677 (-25.0%)	7.9%	$118.72	—	SPON ADR UNITS	344419106
PRKS	UNITED PARKS & RESORTS INC	50,000 (-28.6%)	$1,815 (-49.8%)	2.2%	$51.12	-18.7%	COM	81282V100
ASR	GRUPO AEROPORTUARIO DEL SURE	6,770 (-39.2%)	$2,189 (-39.2%)	2.6%	$323.33	—	SPON ADR SER B	40051E202
PAC	GRUPO AEROPUERTO DEL PACIFIC	10,260 (-28.7%)	$2,705 (-20.7%)	3.2%	$203.41	—	SPON ADS B	400506101
BMA	BANCO MACRO SA	16,300 (-46.6%)	$1,470 (+13.8%)	1.7%	$46.31	—	SPON ADR B	05961W105
FLYW	FLYWIRE CORPORATION	320,000 (-1.5%)	$4,531 (+3.0%)	5.4%	$12.22	+12.0%	COM VTG	302492103
PHIN	PHINIA INC	45,000 (-10.0%)	$2,821 (-1.8%)	3.4%	$43.84	+25.7%	COMMON STOCK	71880K101
VTMX	VESTA REAL ESTATE CORP	36,800 (-9.8%)	$1,122 (-2.8%)	1.3%	$27.83	—	ADS	92540K109

Unchanged Positions (4)

FIVN FIVE9 INC 3.6%

Value ($000) $3,008 Shares 150,000 Est. Cost $26.16 Unrealized -18.9%

YMM FULL TRUCK ALLIANCE CO LTD 3.5%

Value ($000) $2,925 Shares 272,619 Est. Cost $10.96 Unrealized —

AVTR AVANTOR INC 1.4%

Value ($000) $1,146 Shares 100,000 Est. Cost $12.88 Unrealized -4.5%

HEPS D MARKET ELECTR SVCS & TRADI 0.5%

Value ($000) $460 Shares 185,300 Est. Cost $3.02 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FIVN	FIVE9 INC	150,000	$3,008	3.6%	$26.16	-18.9%	COM	338307101
YMM	FULL TRUCK ALLIANCE CO LTD	272,619	$2,925	3.5%	$10.96	—	SPONSORED ADS	35969L108
AVTR	AVANTOR INC	100,000	$1,146	1.4%	$12.88	-4.5%	COM	05352A100
HEPS	D MARKET ELECTR SVCS & TRADI	185,300	$460	0.5%	$3.02	—	SPONSORED ADS	23292B104