ONTARIO TEACHERS PENSION PLAN BOARD Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PNC	PNC FINL SVCS GROUP INC	550,668	$114,589	3.3%	$224.93	0.0%	COM	693475105
ETN	EATON CORP PLC	235,970	$84,399	2.4%	$353.63	0.0%	SHS	G29183103
MA	MASTERCARD INCORPORATED	107,644	$53,785	1.6%	$539.05	0.0%	CL A	57636Q104
PGR	PROGRESSIVE CORP	266,694	$52,869	1.5%	$206.69	0.0%	COM	743315103
SNOW	SNOWFLAKE INC	347,707	$52,441	1.5%	$194.49	0.0%	COM SHS	833445109
AZN	ASTRAZENECA PLC	265,640	$52,390	1.5%	$190.39	0.0%	ORD	G0593M107
TMUS	T-MOBILE US INC	210,616	$44,236	1.3%	$200.28	0.0%	COM	872590104
ASML	ASML HLDG NV	17,576	$23,215	0.7%	$1320.83	—	N Y REGISTRY SHS	N07059210
SPOT	SPOTIFY TECHNOLOGY S A	46,004	$22,308	0.6%	$497.31	0.0%	SHS	L8681T102
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	98,158	$19,386	0.6%	$224.98	0.0%	COM	874054109
COOK	TRAEGER INC	493,861	$14,322	0.4%	$29.00	—	COM NEW	89269P202
AMAT	APPLIED MATLS INC	32,414	$11,079	0.3%	$326.57	0.0%	COM	038222105
ELAN	ELANCO ANIMAL HEALTH INC	417,697	$9,995	0.3%	$24.57	0.0%	COM	28414H103
DHR	DANAHER CORP DEL	50,401	$9,556	0.3%	$224.68	0.0%	COM	235851102
IRM	IRON MTN INC DEL	48,300	$4,933	0.1%	—	—	PUT	46284V101
OGE	OGE ENERGY CORP	90,907	$4,360	0.1%	$44.45	0.0%	COM	670837103
ISRG	INTUITIVE SURGICAL INC	8,987	$4,143	0.1%	$520.97	0.0%	COM NEW	46120E602
DUK	DUKE ENERGY CORP NEW	23,303	$3,051	0.1%	$120.88	0.0%	COM NEW	26441C204
TPR	TAPESTRY INC	19,620	$2,769	0.1%	$139.57	0.0%	COM	876030107
IDXX	IDEXX LABS INC	4,887	$2,746	0.1%	$670.28	0.0%	COM	45168D104
F	FORD MTR CO	230,141	$2,656	0.1%	$13.74	0.0%	COM	345370860
CART	MAPLEBEAR INC	70,518	$2,642	0.1%	$38.24	0.0%	COM	565394103
BWA	BORGWARNER INC	34,872	$1,892	0.1%	$52.31	0.0%	COM	099724106
FR	FIRST INDL RLTY TR INC	31,303	$1,811	0.1%	$57.85	—	COM	32054K103
VZ	VERIZON COMMUNICATIONS INC	26,661	$1,338	0.0%	$43.82	0.0%	COM	92343V104
NI	NISOURCE INC	27,756	$1,295	0.0%	$43.99	0.0%	COM	65473P105
AVB	AVALONBAY CMNTYS INC	7,321	$1,196	0.0%	$180.48	0.0%	COM	053484101
CAVA	CAVA GROUP INC	14,047	$1,136	0.0%	$67.52	0.0%	COM	148929102
UAA	UNDER ARMOUR INC	164,002	$969	0.0%	$6.55	0.0%	CL A	904311107
SBRA	SABRA HEALTH CARE REIT INC	49,905	$960	0.0%	$19.23	—	COM	78573L106
IDA	IDACORP INC	4,879	$698	0.0%	$134.73	0.0%	COM	451107106
SJM	SMUCKER J M CO	6,275	$605	0.0%	$104.16	0.0%	COM NEW	832696405
PEG	PUBLIC SVC ENTERPRISE GROUP	7,069	$572	0.0%	$81.54	0.0%	COM	744573106
COKE	COCA COLA CONS INC	2,711	$520	0.0%	$159.23	0.0%	COM	191098102
LULU	LULULEMON ATHLETICA INC	2,881	$441	0.0%	$188.79	0.0%	COM	550021109

Increased Positions (31)

CMG CHIPOTLE MEXICAN GRILL INC 2.0%

Value ($000) $68,436 (+2110.0%) Shares 2,137,948 (+2454.5%) Est. Cost $39.25 Unrealized -1.2%

CRM SALESFORCE INC 3.8%

Value ($000) $131,635 (-25.8%) Shares 705,173 (+5.3%) Est. Cost $234.80 Unrealized -8.1%

TMO THERMO FISHER SCIENTIFIC INC 0.8%

Value ($000) $29,233 (+122.4%) Shares 59,473 (+162.2%) Est. Cost $532.72 Unrealized +7.9%

ZBH ZIMMER BIOMET HOLDINGS INC 0.7%

Value ($000) $24,493 (+135.6%) Shares 270,876 (+134.3%) Est. Cost $92.90 Unrealized -1.3%

ABBV ABBVIE INC 2.1%

Value ($000) $70,980 (+11.6%) Shares 326,361 (+17.2%) Est. Cost $208.33 Unrealized +6.8%

META META PLATFORMS INC 1.1%

Value ($000) $36,666 (+20.7%) Shares 64,086 (+39.3%) Est. Cost $664.01 Unrealized -1.3%

MAA MID-AMER APT CMNTYS INC 0.1%

Value ($000) $4,476 (+676.3%) Shares 36,654 (+783.0%) Est. Cost $139.14 Unrealized -0.0%

EW EDWARDS LIFESCIENCES CORP 0.4%

Value ($000) $14,713 (+28.4%) Shares 183,733 (+36.7%) Est. Cost $82.03 Unrealized -0.1%

BRBR BELLRING BRANDS INC 0.1%

Value ($000) $2,446 (+833.7%) Shares 152,017 (+1451.2%) Est. Cost $22.77 Unrealized -2.5%

AMH AMERICAN HOMES 4 RENT 0.1%

Value ($000) $2,725 (+205.1%) Shares 97,586 (+250.8%) Est. Cost $29.89 Unrealized —

CMCSA COMCAST CORP NEW 0.1%

Value ($000) $3,360 (+68.6%) Shares 117,021 (+75.5%) Est. Cost $29.76 Unrealized +0.2%

ALV AUTOLIV INC 0.1%

Value ($000) $2,503 (+104.0%) Shares 23,806 (+130.3%) Est. Cost $122.54 Unrealized +2.0%

GNTX GENTEX CORP 0.1%

Value ($000) $4,053 (+40.4%) Shares 185,502 (+49.5%) Est. Cost $23.69 Unrealized +1.4%

ES EVERSOURCE ENERGY 0.1%

Value ($000) $1,962 (+111.6%) Shares 28,323 (+105.6%) Est. Cost $67.47 Unrealized +3.9%

O REALTY INCOME CORP 0.1%

Value ($000) $3,035 (+48.0%) Shares 49,603 (+36.4%) Est. Cost $57.17 Unrealized +0.2%

DPZ DOMINOS PIZZA INC 0.1%

Value ($000) $3,697 (+26.5%) Shares 10,303 (+47.0%) Est. Cost $438.68 Unrealized -8.6%

BBWI BATH & BODY WORKS INC 0.1%

Value ($000) $3,058 (+28.5%) Shares 163,793 (+38.2%) Est. Cost $23.07 Unrealized -2.9%

EXPE EXPEDIA GROUP INC 0.1%

Value ($000) $2,948 (-17.0%) Shares 12,770 (+1.9%) Est. Cost $180.41 Unrealized +40.5%

EQR EQUITY RESIDENTIAL 0.0%

Value ($000) $1,722 (+53.4%) Shares 29,117 (+63.5%) Est. Cost $61.20 Unrealized +1.4%

MTN VAIL RESORTS INC 0.0%

Value ($000) $1,503 (+36.9%) Shares 11,713 (+41.7%) Est. Cost $146.65 Unrealized -6.0%

RIVN RIVIAN AUTOMOTIVE INC 0.0%

Value ($000) $1,572 (+24.1%) Shares 104,435 (+62.5%) Est. Cost $14.63 Unrealized +11.6%

ABNB AIRBNB INC 0.0%

Value ($000) $342 (+707.9%) Shares 2,709 (+768.3%) Est. Cost $128.84 Unrealized +0.4%

CHTR CHARTER COMMUNICATIONS INC 0.0%

Value ($000) $1,489 (+22.1%) Shares 6,897 (+18.1%) Est. Cost $332.14 Unrealized -35.6%

GT GOODYEAR TIRE & RUBR CO 0.0%

Value ($000) $1,420 (+21.4%) Shares 214,170 (+60.5%) Est. Cost $8.42 Unrealized +10.5%

BKNG BOOKING HOLDINGS INC 0.1%

Value ($000) $2,985 (+7.4%) Shares 709 (+36.6%) Est. Cost $3900.35 Unrealized +22.6%

PII POLARIS INC 0.1%

Value ($000) $2,967 (-6.0%) Shares 54,432 (+9.1%) Est. Cost $42.97 Unrealized +57.1%

APTV APTIV PLC 0.1%

Value ($000) $2,333 (-5.0%) Shares 33,603 (+4.1%) Est. Cost $69.93 Unrealized +15.7%

M MACYS INC 0.0%

Value ($000) $1,251 (-3.4%) Shares 69,169 (+17.8%) Est. Cost $20.64 Unrealized +4.5%

BBY BEST BUY INC 0.0%

Value ($000) $978 (+2.5%) Shares 15,237 (+6.9%) Est. Cost $73.94 Unrealized -9.4%

COTY COTY INC 0.0%

Value ($000) $722 (-2.6%) Shares 359,328 (+49.3%) Est. Cost $3.42 Unrealized -13.1%

HOG HARLEY DAVIDSON INC 0.0%

Value ($000) $1,192 (+1.6%) Shares 58,956 (+2.9%) Est. Cost $24.31 Unrealized -16.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMG	CHIPOTLE MEXICAN GRILL INC	2,137,948 (+2454.5%)	$68,436 (+2110.0%)	2.0%	$39.25	-1.2%	COM	169656105
CRM	SALESFORCE INC	705,173 (+5.3%)	$131,635 (-25.8%)	3.8%	$234.80	-8.1%	COM	79466L302
TMO	THERMO FISHER SCIENTIFIC INC	59,473 (+162.2%)	$29,233 (+122.4%)	0.8%	$532.72	+7.9%	COM	883556102
ZBH	ZIMMER BIOMET HOLDINGS INC	270,876 (+134.3%)	$24,493 (+135.6%)	0.7%	$92.90	-1.3%	COM	98956P102
ABBV	ABBVIE INC	326,361 (+17.2%)	$70,980 (+11.6%)	2.1%	$208.33	+6.8%	COM	00287Y109
META	META PLATFORMS INC	64,086 (+39.3%)	$36,666 (+20.7%)	1.1%	$664.01	-1.3%	CL A	30303M102
MAA	MID-AMER APT CMNTYS INC	36,654 (+783.0%)	$4,476 (+676.3%)	0.1%	$139.14	-0.0%	COM	59522J103
EW	EDWARDS LIFESCIENCES CORP	183,733 (+36.7%)	$14,713 (+28.4%)	0.4%	$82.03	-0.1%	COM	28176E108
BRBR	BELLRING BRANDS INC	152,017 (+1451.2%)	$2,446 (+833.7%)	0.1%	$22.77	-2.5%	COMMON STOCK	07831C103
AMH	AMERICAN HOMES 4 RENT	97,586 (+250.8%)	$2,725 (+205.1%)	0.1%	$29.89	—	CL A	02665T306
CMCSA	COMCAST CORP NEW	117,021 (+75.5%)	$3,360 (+68.6%)	0.1%	$29.76	+0.2%	CL A	20030N101
ALV	AUTOLIV INC	23,806 (+130.3%)	$2,503 (+104.0%)	0.1%	$122.54	+2.0%	COM	052800109
GNTX	GENTEX CORP	185,502 (+49.5%)	$4,053 (+40.4%)	0.1%	$23.69	+1.4%	COM	371901109
ES	EVERSOURCE ENERGY	28,323 (+105.6%)	$1,962 (+111.6%)	0.1%	$67.47	+3.9%	COM	30040W108
O	REALTY INCOME CORP	49,603 (+36.4%)	$3,035 (+48.0%)	0.1%	$57.17	+0.2%	COM	756109104
DPZ	DOMINOS PIZZA INC	10,303 (+47.0%)	$3,697 (+26.5%)	0.1%	$438.68	-8.6%	COM	25754A201
BBWI	BATH & BODY WORKS INC	163,793 (+38.2%)	$3,058 (+28.5%)	0.1%	$23.07	-2.9%	COM	070830104
EXPE	EXPEDIA GROUP INC	12,770 (+1.9%)	$2,948 (-17.0%)	0.1%	$180.41	+40.5%	COM NEW	30212P303
EQR	EQUITY RESIDENTIAL	29,117 (+63.5%)	$1,722 (+53.4%)	0.0%	$61.20	+1.4%	SH BEN INT	29476L107
MTN	VAIL RESORTS INC	11,713 (+41.7%)	$1,503 (+36.9%)	0.0%	$146.65	-6.0%	COM	91879Q109
RIVN	RIVIAN AUTOMOTIVE INC	104,435 (+62.5%)	$1,572 (+24.1%)	0.0%	$14.63	+11.6%	COM CL A	76954A103
ABNB	AIRBNB INC	2,709 (+768.3%)	$342 (+707.9%)	0.0%	$128.84	+0.4%	COM CL A	009066101
CHTR	CHARTER COMMUNICATIONS INC	6,897 (+18.1%)	$1,489 (+22.1%)	0.0%	$332.14	-35.6%	CL A	16119P108
GT	GOODYEAR TIRE & RUBR CO	214,170 (+60.5%)	$1,420 (+21.4%)	0.0%	$8.42	+10.5%	COM	382550101
BKNG	BOOKING HOLDINGS INC	709 (+36.6%)	$2,985 (+7.4%)	0.1%	$3900.35	+22.6%	COM	09857L108
PII	POLARIS INC	54,432 (+9.1%)	$2,967 (-6.0%)	0.1%	$42.97	+57.1%	COM	731068102
APTV	APTIV PLC	33,603 (+4.1%)	$2,333 (-5.0%)	0.1%	$69.93	+15.7%	COM SHS	G3265R107
M	MACYS INC	69,169 (+17.8%)	$1,251 (-3.4%)	0.0%	$20.64	+4.5%	COM	55616P104
BBY	BEST BUY INC	15,237 (+6.9%)	$978 (+2.5%)	0.0%	$73.94	-9.4%	COM	086516101
COTY	COTY INC	359,328 (+49.3%)	$722 (-2.6%)	0.0%	$3.42	-13.1%	COM CL A	222070203
HOG	HARLEY DAVIDSON INC	58,956 (+2.9%)	$1,192 (+1.6%)	0.0%	$24.31	-16.5%	COM	412822108

Exited Positions (41)

BAC BANK AMERICA CORP 4.3%

Value ($000) $149,919 Shares 2,725,808 Est. Cost $42.82 Unrealized +25.3%

GE GE AEROSPACE 3.3%

Value ($000) $113,864 Shares 369,652 Est. Cost $213.37 Unrealized +49.1%

AZN ASTRAZENECA PLC 1.5%

Value ($000) $52,644 Shares 572,652 Est. Cost $69.88 Unrealized —

— FORD MTR CO 0.9%

Value ($000) $31,212 Shares 30,000,000 Est. Cost $1.03 Unrealized —

COOK TRAEGER INC 0.8%

Value ($000) $26,669 Shares 24,693,075 Est. Cost $24.95 Unrealized -96.1%

BSX BOSTON SCIENTIFIC CORP 0.6%

Value ($000) $21,447 Shares 224,925 Est. Cost $103.07 Unrealized -16.7%

— SPOTIFY USA INC 0.5%

Value ($000) $17,065 Shares 15,000,000 Est. Cost $1.36 Unrealized —

— VAIL RESORTS INC 0.3%

Value ($000) $9,950 Shares 10,000,000 Est. Cost $0.98 Unrealized —

— AIRBNB INC 0.2%

Value ($000) $6,945 Shares 7,000,000 Est. Cost $0.93 Unrealized —

— TRIPADVISOR INC 0.2%

Value ($000) $6,128 Shares 6,237,000 Est. Cost $0.93 Unrealized —

— DAYFORCE INC 0.1%

Value ($000) $4,950 Shares 5,000,000 Est. Cost $0.96 Unrealized —

SUI SUN CMNTYS INC 0.1%

Value ($000) $3,853 Shares 31,096 Est. Cost $125.61 Unrealized —

— RINGCENTRAL INC 0.1%

Value ($000) $3,265 Shares 3,311,000 Est. Cost $0.98 Unrealized —

USFD US FOODS HLDG CORP 0.1%

Value ($000) $3,130 Shares 41,554 Est. Cost $70.34 Unrealized +23.1%

UGI UGI CORP NEW 0.1%

Value ($000) $3,083 Shares 82,360 Est. Cost $30.45 Unrealized +25.5%

— ALARM COM HLDGS INC 0.1%

Value ($000) $2,997 Shares 3,000,000 Est. Cost $0.82 Unrealized —

CDP COPT DEFENSE PROPERTIES 0.1%

Value ($000) $2,578 Shares 92,748 Est. Cost $27.34 Unrealized —

CUZ COUSINS PPTYS INC 0.1%

Value ($000) $2,347 Shares 91,049 Est. Cost $26.73 Unrealized —

TGT TARGET CORP 0.1%

Value ($000) $2,078 Shares 21,263 Est. Cost $100.40 Unrealized +8.8%

— HAEMONETICS CORP MASS 0.1%

Value ($000) $1,980 Shares 2,000,000 Est. Cost $0.80 Unrealized —

NFG NATIONAL FUEL GAS CO 0.1%

Value ($000) $1,829 Shares 22,847 Est. Cost $64.04 Unrealized +30.5%

PBA PEMBINA PIPELINE CORP 0.1%

Value ($000) $1,780 Shares 46,676 Est. Cost $37.34 Unrealized +9.8%

EL LAUDER ESTEE COS INC 0.0%

Value ($000) $1,539 Shares 14,698 Est. Cost $96.82 Unrealized +15.6%

FOXA FOX CORP 0.0%

Value ($000) $1,524 Shares 20,861 Est. Cost $56.63 Unrealized +18.7%

— JETBLUE AIRWAYS CORP 0.0%

Value ($000) $1,476 Shares 1,500,000 Est. Cost $0.72 Unrealized —

INGR INGREDION INC 0.0%

Value ($000) $1,460 Shares 13,239 Est. Cost $126.91 Unrealized -8.4%

SWX SOUTHWEST GAS HLDGS INC 0.0%

Value ($000) $1,375 Shares 17,187 Est. Cost $73.84 Unrealized +13.9%

BMO BANK MONTREAL QUE 0.0%

Value ($000) $1,249 Shares 9,618 Est. Cost $105.42 Unrealized +31.7%

ARMK ARAMARK 0.0%

Value ($000) $1,235 Shares 33,513 Est. Cost $37.92 Unrealized +3.0%

CHWY CHEWY INC 0.0%

Value ($000) $912 Shares 27,600 Est. Cost $39.84 Unrealized -26.5%

PG PROCTER AND GAMBLE CO 0.0%

Value ($000) $862 Shares 6,017 Est. Cost $150.12 Unrealized +1.1%

RBLX ROBLOX CORP 0.0%

Value ($000) $855 Shares 10,548 Est. Cost $60.53 Unrealized +18.5%

WY WEYERHAEUSER CO MTN BE 0.0%

Value ($000) $843 Shares 35,586 Est. Cost $25.19 Unrealized -5.5%

TSLA TESLA INC 0.0%

Value ($000) $819 Shares 1,821 Est. Cost $301.28 Unrealized +41.4%

EPR EPR PPTYS 0.0%

Value ($000) $700 Shares 14,032 Est. Cost $46.90 Unrealized —

SGI SOMNIGROUP INTERNATIONAL INC 0.0%

Value ($000) $676 Shares 7,573 Est. Cost $87.36 Unrealized +5.3%

THO THOR INDS INC 0.0%

Value ($000) $477 Shares 4,646 Est. Cost $77.74 Unrealized +45.5%

CROX CROCS INC 0.0%

Value ($000) $419 Shares 4,897 Est. Cost $107.15 Unrealized -17.7%

RDDT REDDIT INC 0.0%

Value ($000) $368 Shares 1,600 Est. Cost $113.37 Unrealized +67.3%

ESS ESSEX PPTY TR INC 0.0%

Value ($000) $241 Shares 922 Est. Cost $265.10 Unrealized -3.1%

GTM ZOOMINFO TECHNOLOGIES INC 0.0%

Value ($000) $162 Shares 15,941 Est. Cost $10.30 Unrealized -21.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BAC	BANK AMERICA CORP	2,725,808	$149,919	4.3%	$42.82	+25.3%	—	060505104
GE	GE AEROSPACE	369,652	$113,864	3.3%	$213.37	+49.1%	—	369604301
AZN	ASTRAZENECA PLC	572,652	$52,644	1.5%	$69.88	—	—	046353108
—	FORD MTR CO	30,000,000	$31,212	0.9%	$1.03	—	—	345370CZ1
COOK	TRAEGER INC	24,693,075	$26,669	0.8%	$24.95	-96.1%	—	89269P103
BSX	BOSTON SCIENTIFIC CORP	224,925	$21,447	0.6%	$103.07	-16.7%	—	101137107
—	SPOTIFY USA INC	15,000,000	$17,065	0.5%	$1.36	—	—	84921RAB6
—	VAIL RESORTS INC	10,000,000	$9,950	0.3%	$0.98	—	—	91879QAN9
—	AIRBNB INC	7,000,000	$6,945	0.2%	$0.93	—	—	009066AB7
—	TRIPADVISOR INC	6,237,000	$6,128	0.2%	$0.93	—	—	896945AD4
—	DAYFORCE INC	5,000,000	$4,950	0.1%	$0.96	—	—	15677JAD0
SUI	SUN CMNTYS INC	31,096	$3,853	0.1%	$125.61	—	—	866674104
—	RINGCENTRAL INC	3,311,000	$3,265	0.1%	$0.98	—	—	76680RAH0
USFD	US FOODS HLDG CORP	41,554	$3,130	0.1%	$70.34	+23.1%	—	912008109
UGI	UGI CORP NEW	82,360	$3,083	0.1%	$30.45	+25.5%	—	902681105
—	ALARM COM HLDGS INC	3,000,000	$2,997	0.1%	$0.82	—	—	011642AB1
CDP	COPT DEFENSE PROPERTIES	92,748	$2,578	0.1%	$27.34	—	—	22002T108
CUZ	COUSINS PPTYS INC	91,049	$2,347	0.1%	$26.73	—	—	222795502
TGT	TARGET CORP	21,263	$2,078	0.1%	$100.40	+8.8%	—	87612E106
—	HAEMONETICS CORP MASS	2,000,000	$1,980	0.1%	$0.80	—	—	405024AB6
NFG	NATIONAL FUEL GAS CO	22,847	$1,829	0.1%	$64.04	+30.5%	—	636180101
PBA	PEMBINA PIPELINE CORP	46,676	$1,780	0.1%	$37.34	+9.8%	—	706327103
EL	LAUDER ESTEE COS INC	14,698	$1,539	0.0%	$96.82	+15.6%	—	518439104
FOXA	FOX CORP	20,861	$1,524	0.0%	$56.63	+18.7%	—	35137L105
—	JETBLUE AIRWAYS CORP	1,500,000	$1,476	0.0%	$0.72	—	—	477143AP6
INGR	INGREDION INC	13,239	$1,460	0.0%	$126.91	-8.4%	—	457187102
SWX	SOUTHWEST GAS HLDGS INC	17,187	$1,375	0.0%	$73.84	+13.9%	—	844895102
BMO	BANK MONTREAL QUE	9,618	$1,249	0.0%	$105.42	+31.7%	—	063671101
ARMK	ARAMARK	33,513	$1,235	0.0%	$37.92	+3.0%	—	03852U106
CHWY	CHEWY INC	27,600	$912	0.0%	$39.84	-26.5%	—	16679L109
PG	PROCTER AND GAMBLE CO	6,017	$862	0.0%	$150.12	+1.1%	—	742718109
RBLX	ROBLOX CORP	10,548	$855	0.0%	$60.53	+18.5%	—	771049103
WY	WEYERHAEUSER CO MTN BE	35,586	$843	0.0%	$25.19	-5.5%	—	962166104
TSLA	TESLA INC	1,821	$819	0.0%	$301.28	+41.4%	—	88160R101
EPR	EPR PPTYS	14,032	$700	0.0%	$46.90	—	—	26884U109
SGI	SOMNIGROUP INTERNATIONAL INC	7,573	$676	0.0%	$87.36	+5.3%	—	88023U101
THO	THOR INDS INC	4,646	$477	0.0%	$77.74	+45.5%	—	885160101
CROX	CROCS INC	4,897	$419	0.0%	$107.15	-17.7%	—	227046109
RDDT	REDDIT INC	1,600	$368	0.0%	$113.37	+67.3%	—	75734B100
ESS	ESSEX PPTY TR INC	922	$241	0.0%	$265.10	-3.1%	—	297178105
GTM	ZOOMINFO TECHNOLOGIES INC	15,941	$162	0.0%	$10.30	-21.1%	—	98980F104

Decreased Positions (76)

HYG ISHARES TR 15.1%

Value ($000) $522,709 (-41.3%) Shares 6,570,000 (-40.5%) Est. Cost $80.71 Unrealized —

WMT WALMART INC 0.1%

Value ($000) $2,086 (-98.9%) Shares 16,787 (-99.0%) Est. Cost $92.88 Unrealized +31.4%

CMI CUMMINS INC 1.3%

Value ($000) $45,196 (-71.8%) Shares 84,004 (-73.3%) Est. Cost $304.04 Unrealized +89.3%

COF CAPITAL ONE FINL CORP 3.6%

Value ($000) $124,637 (-39.7%) Shares 683,205 (-20.0%) Est. Cost $187.52 Unrealized +19.0%

T AT&T INC 0.0%

Value ($000) $1,357 (-98.4%) Shares 46,815 (-98.6%) Est. Cost $24.33 Unrealized +5.8%

TEAM ATLASSIAN CORPORATION 1.3%

Value ($000) $43,892 (-62.3%) Shares 643,100 (-10.3%) Est. Cost $179.24 Unrealized -36.8%

ROK ROCKWELL AUTOMATION INC 2.4%

Value ($000) $83,696 (-38.8%) Shares 233,214 (-33.6%) Est. Cost $283.38 Unrealized +44.8%

DIS DISNEY WALT CO 0.9%

Value ($000) $31,286 (-62.5%) Shares 324,614 (-55.8%) Est. Cost $102.61 Unrealized +6.7%

NVDA NVIDIA CORPORATION 2.7%

Value ($000) $93,635 (-31.8%) Shares 536,898 (-27.1%) Est. Cost $178.33 Unrealized +4.7%

CARR CARRIER GLOBAL CORPORATION 2.1%

Value ($000) $73,323 (-26.6%) Shares 1,302,131 (-31.1%) Est. Cost $55.53 Unrealized +7.5%

ROST ROSS STORES INC 2.1%

Value ($000) $71,417 (-12.6%) Shares 329,672 (-27.3%) Est. Cost $142.18 Unrealized +35.3%

PSA PUBLIC STORAGE OPER CO 0.1%

Value ($000) $2,418 (-71.7%) Shares 8,925 (-72.9%) Est. Cost $276.71 Unrealized -6.6%

— NUTANIX INC 0.1%

Value ($000) $5,105 (-54.5%) Shares 5,000,000 (-50.0%) Est. Cost $1.39 Unrealized —

NSA NATIONAL STORAGE AFFILIATES 0.0%

Value ($000) $1,113 (-84.5%) Shares 29,504 (-88.4%) Est. Cost $34.45 Unrealized —

WEC WEC ENERGY GROUP INC 0.0%

Value ($000) $270 (-94.7%) Shares 2,334 (-95.2%) Est. Cost $104.50 Unrealized +5.2%

LAMR LAMAR ADVERTISING CO 0.0%

Value ($000) $1,374 (-76.3%) Shares 10,848 (-76.3%) Est. Cost $116.90 Unrealized —

CPT CAMDEN PPTY TR 0.1%

Value ($000) $3,341 (-51.5%) Shares 34,214 (-45.3%) Est. Cost $109.05 Unrealized +1.0%

EVRG EVERGY INC 0.0%

Value ($000) $337 (-90.9%) Shares 4,109 (-91.9%) Est. Cost $62.00 Unrealized +24.6%

OHI OMEGA HEALTHCARE INVS INC 0.0%

Value ($000) $1,486 (-69.0%) Shares 33,910 (-68.7%) Est. Cost $35.70 Unrealized —

CUBE CUBESMART 0.0%

Value ($000) $1,349 (-70.8%) Shares 36,804 (-71.3%) Est. Cost $36.05 Unrealized —

DOC HEALTHPEAK PROPERTIES INC 0.1%

Value ($000) $2,956 (-52.5%) Shares 179,896 (-53.5%) Est. Cost $17.59 Unrealized -7.9%

GIS GENERAL MILLS INC 0.0%

Value ($000) $1,411 (-69.5%) Shares 37,922 (-61.9%) Est. Cost $55.41 Unrealized -17.9%

CCI CROWN CASTLE INC 0.0%

Value ($000) $633 (-82.7%) Shares 7,781 (-81.1%) Est. Cost $95.10 Unrealized -6.7%

YETI YETI HLDGS INC 0.0%

Value ($000) $874 (-77.5%) Shares 23,894 (-72.8%) Est. Cost $33.92 Unrealized +39.8%

COST COSTCO WHOLESALE CORPORATION 0.1%

Value ($000) $2,502 (-53.1%) Shares 2,511 (-59.4%) Est. Cost $838.50 Unrealized +14.9%

CL COLGATE PALMOLIVE CO 0.0%

Value ($000) $353 (-88.9%) Shares 4,146 (-89.7%) Est. Cost $83.76 Unrealized +6.0%

WPC WP CAREY INC 0.1%

Value ($000) $4,459 (-37.3%) Shares 65,618 (-40.6%) Est. Cost $60.21 Unrealized —

BURL BURLINGTON STORES INC 2.0%

Value ($000) $69,757 (-3.2%) Shares 214,385 (-14.1%) Est. Cost $271.44 Unrealized +12.1%

SAM BOSTON BEER INC 0.1%

Value ($000) $3,938 (-34.2%) Shares 17,092 (-44.3%) Est. Cost $241.66 Unrealized -7.9%

OGS ONE GAS INC 0.0%

Value ($000) $1,077 (-63.2%) Shares 12,508 (-67.0%) Est. Cost $76.39 Unrealized +5.7%

SNAP SNAP INC 0.0%

Value ($000) $133 (-92.9%) Shares 28,879 (-87.6%) Est. Cost $8.12 Unrealized -18.8%

VTR VENTAS INC 0.1%

Value ($000) $2,235 (-43.6%) Shares 27,329 (-46.7%) Est. Cost $74.10 Unrealized +4.4%

AEP AMERICAN ELEC PWR CO INC 0.1%

Value ($000) $1,844 (-47.9%) Shares 14,070 (-54.2%) Est. Cost $102.31 Unrealized +17.8%

DTE DTE ENERGY CO 0.0%

Value ($000) $1,320 (-55.8%) Shares 9,028 (-61.0%) Est. Cost $124.07 Unrealized +10.3%

TSCO TRACTOR SUPPLY CO 0.0%

Value ($000) $1,254 (-56.9%) Shares 27,686 (-52.4%) Est. Cost $56.03 Unrealized -5.9%

CASY CASEYS GEN STORES INC 0.0%

Value ($000) $873 (-65.3%) Shares 1,199 (-73.6%) Est. Cost $531.53 Unrealized +18.7%

POR PORTLAND GEN ELEC CO 0.1%

Value ($000) $5,063 (-24.0%) Shares 95,936 (-30.9%) Est. Cost $42.03 Unrealized +20.4%

HLT HILTON WORLDWIDE HLDGS INC 0.0%

Value ($000) $848 (-64.7%) Shares 2,788 (-66.6%) Est. Cost $250.54 Unrealized +21.8%

AEE AMEREN CORP 0.0%

Value ($000) $1,227 (-55.3%) Shares 11,166 (-59.4%) Est. Cost $101.98 Unrealized +2.6%

GHC GRAHAM HLDGS CO 0.0%

Value ($000) $308 (-82.9%) Shares 291 (-82.2%) Est. Cost $916.81 Unrealized +22.9%

DRI DARDEN RESTAURANTS INC 0.0%

Value ($000) $774 (-65.8%) Shares 3,947 (-67.9%) Est. Cost $185.36 Unrealized +11.9%

BJ BJS WHSL CLUB HLDGS INC 0.0%

Value ($000) $396 (-78.6%) Shares 4,026 (-80.4%) Est. Cost $95.92 Unrealized -0.2%

FIVE FIVE BELOW INC 0.0%

Value ($000) $436 (-76.7%) Shares 1,907 (-80.8%) Est. Cost $111.01 Unrealized +81.6%

NXST NEXSTAR MEDIA GROUP INC 0.0%

Value ($000) $1,008 (-58.1%) Shares 5,576 (-52.9%) Est. Cost $158.73 Unrealized +37.5%

DKNG DRAFTKINGS INC NEW 0.0%

Value ($000) $217 (-86.4%) Shares 10,045 (-78.3%) Est. Cost $36.73 Unrealized -21.2%

ADM ARCHER DANIELS MIDLAND CO 0.1%

Value ($000) $3,261 (-28.8%) Shares 44,866 (-43.7%) Est. Cost $58.18 Unrealized +12.8%

DG DOLLAR GEN CORP 0.0%

Value ($000) $1,262 (-49.4%) Shares 10,630 (-43.4%) Est. Cost $108.38 Unrealized +36.3%

CELH CELSIUS HLDGS INC 0.0%

Value ($000) $361 (-77.1%) Shares 10,174 (-70.5%) Est. Cost $50.38 Unrealized +0.6%

INVH INVITATION HOMES INC 0.1%

Value ($000) $3,055 (-28.4%) Shares 122,948 (-20.0%) Est. Cost $27.64 Unrealized +0.3%

VC VISTEON CORP 0.0%

Value ($000) $409 (-70.2%) Shares 4,487 (-68.9%) Est. Cost $90.47 Unrealized +8.0%

TAP MOLSON COORS BEVERAGE CO 0.1%

Value ($000) $1,818 (-34.3%) Shares 42,227 (-28.7%) Est. Cost $45.79 Unrealized +8.1%

TXRH TEXAS ROADHOUSE INC 0.1%

Value ($000) $3,031 (-23.6%) Shares 18,352 (-23.2%) Est. Cost $164.79 Unrealized +12.0%

SO SOUTHERN CO 0.0%

Value ($000) $1,340 (-38.3%) Shares 13,882 (-44.2%) Est. Cost $87.95 Unrealized +1.8%

VICI VICI PPTYS INC 0.0%

Value ($000) $1,389 (-36.4%) Shares 50,859 (-34.5%) Est. Cost $31.09 Unrealized -9.5%

MUSA MURPHY USA INC 0.1%

Value ($000) $2,136 (-26.4%) Shares 4,325 (-39.9%) Est. Cost $382.43 Unrealized +7.9%

CNP CENTERPOINT ENERGY INC 0.0%

Value ($000) $694 (-52.2%) Shares 16,091 (-57.6%) Est. Cost $38.86 Unrealized +3.0%

MZTI MARZETTI COMPANY 0.0%

Value ($000) $1,169 (-37.9%) Shares 8,453 (-26.2%) Est. Cost $173.84 Unrealized -5.4%

SCI SERVICE CORP INTL 0.0%

Value ($000) $1,370 (-33.0%) Shares 16,604 (-36.7%) Est. Cost $79.44 Unrealized +1.9%

SPG SIMON PPTY GROUP INC NEW 0.0%

Value ($000) $423 (-61.0%) Shares 2,268 (-61.3%) Est. Cost $169.06 Unrealized +8.8%

TJX TJX COS INC NEW 0.0%

Value ($000) $1,723 (-27.6%) Shares 10,791 (-30.3%) Est. Cost $128.68 Unrealized +19.8%

POST POST HLDGS INC 0.0%

Value ($000) $143 (-81.9%) Shares 1,442 (-81.8%) Est. Cost $103.53 Unrealized -0.7%

BC BRUNSWICK CORP 0.1%

Value ($000) $2,944 (-16.1%) Shares 40,460 (-14.3%) Est. Cost $49.68 Unrealized +71.8%

DAR DARLING INGREDIENTS INC 0.0%

Value ($000) $338 (-59.6%) Shares 5,470 (-76.5%) Est. Cost $33.85 Unrealized +33.6%

NNN NNN REIT INC 0.1%

Value ($000) $2,258 (-16.3%) Shares 53,729 (-21.0%) Est. Cost $40.57 Unrealized —

KHC KRAFT HEINZ CO 0.1%

Value ($000) $3,404 (-10.2%) Shares 151,369 (-3.2%) Est. Cost $26.73 Unrealized -10.5%

CAG CONAGRA BRANDS INC 0.0%

Value ($000) $304 (-55.6%) Shares 19,339 (-51.1%) Est. Cost $17.64 Unrealized +2.2%

CHDN CHURCHILL DOWNS INC 0.0%

Value ($000) $1,059 (-25.3%) Shares 11,789 (-5.3%) Est. Cost $102.49 Unrealized -2.6%

ED CONSOLIDATED EDISON INC 0.0%

Value ($000) $419 (-43.5%) Shares 3,705 (-50.4%) Est. Cost $99.12 Unrealized +6.3%

BKH BLACK HILLS CORP 0.1%

Value ($000) $3,519 (-7.6%) Shares 50,703 (-7.6%) Est. Cost $54.70 Unrealized +31.4%

NYT NEW YORK TIMES CO MTN BE 0.1%

Value ($000) $3,267 (-8.0%) Shares 39,023 (-23.7%) Est. Cost $56.84 Unrealized +27.2%

LEA LEAR CORP 0.1%

Value ($000) $3,280 (-7.5%) Shares 27,086 (-12.5%) Est. Cost $105.05 Unrealized +21.6%

PK PARK HOTELS & RESORTS INC 0.1%

Value ($000) $4,989 (-5.1%) Shares 473,823 (-5.7%) Est. Cost $10.71 Unrealized —

BYD BOYD GAMING CORP 0.0%

Value ($000) $701 (-23.5%) Shares 8,536 (-20.7%) Est. Cost $79.37 Unrealized +7.3%

RCL ROYAL CARIBBEAN GROUP 0.0%

Value ($000) $217 (-48.6%) Shares 787 (-47.9%) Est. Cost $281.58 Unrealized +9.7%

FE FIRSTENERGY CORP 0.1%

Value ($000) $4,953 (-3.7%) Shares 97,775 (-14.9%) Est. Cost $41.61 Unrealized +13.2%

MCD MCDONALDS CORP 0.0%

Value ($000) $882 (-3.1%) Shares 2,839 (-4.7%) Est. Cost $305.09 Unrealized +4.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	6,570,000 (-40.5%)	$522,709 (-41.3%)	15.1%	$80.71	—	IBOXX HI YD ETF	464288513
WMT	WALMART INC	16,787 (-99.0%)	$2,086 (-98.9%)	0.1%	$92.88	+31.4%	COM	931142103
CMI	CUMMINS INC	84,004 (-73.3%)	$45,196 (-71.8%)	1.3%	$304.04	+89.3%	COM	231021106
COF	CAPITAL ONE FINL CORP	683,205 (-20.0%)	$124,637 (-39.7%)	3.6%	$187.52	+19.0%	COM	14040H105
T	AT&T INC	46,815 (-98.6%)	$1,357 (-98.4%)	0.0%	$24.33	+5.8%	COM	00206R102
TEAM	ATLASSIAN CORPORATION	643,100 (-10.3%)	$43,892 (-62.3%)	1.3%	$179.24	-36.8%	CL A	049468101
ROK	ROCKWELL AUTOMATION INC	233,214 (-33.6%)	$83,696 (-38.8%)	2.4%	$283.38	+44.8%	COM	773903109
DIS	DISNEY WALT CO	324,614 (-55.8%)	$31,286 (-62.5%)	0.9%	$102.61	+6.7%	COM	254687106
NVDA	NVIDIA CORPORATION	536,898 (-27.1%)	$93,635 (-31.8%)	2.7%	$178.33	+4.7%	COM	67066G104
CARR	CARRIER GLOBAL CORPORATION	1,302,131 (-31.1%)	$73,323 (-26.6%)	2.1%	$55.53	+7.5%	COM	14448C104
ROST	ROSS STORES INC	329,672 (-27.3%)	$71,417 (-12.6%)	2.1%	$142.18	+35.3%	COM	778296103
PSA	PUBLIC STORAGE OPER CO	8,925 (-72.9%)	$2,418 (-71.7%)	0.1%	$276.71	-6.6%	COM	74460D109
—	NUTANIX INC	5,000,000 (-50.0%)	$5,105 (-54.5%)	0.1%	$1.39	—	NOTE 0.250%10/0	67059NAH1
NSA	NATIONAL STORAGE AFFILIATES	29,504 (-88.4%)	$1,113 (-84.5%)	0.0%	$34.45	—	COM SHS BEN IN	637870106
WEC	WEC ENERGY GROUP INC	2,334 (-95.2%)	$270 (-94.7%)	0.0%	$104.50	+5.2%	COM	92939U106
LAMR	LAMAR ADVERTISING CO	10,848 (-76.3%)	$1,374 (-76.3%)	0.0%	$116.90	—	CL A	512816109
CPT	CAMDEN PPTY TR	34,214 (-45.3%)	$3,341 (-51.5%)	0.1%	$109.05	+1.0%	SH BEN INT	133131102
EVRG	EVERGY INC	4,109 (-91.9%)	$337 (-90.9%)	0.0%	$62.00	+24.6%	COM	30034W106
OHI	OMEGA HEALTHCARE INVS INC	33,910 (-68.7%)	$1,486 (-69.0%)	0.0%	$35.70	—	COM	681936100
CUBE	CUBESMART	36,804 (-71.3%)	$1,349 (-70.8%)	0.0%	$36.05	—	COM	229663109
DOC	HEALTHPEAK PROPERTIES INC	179,896 (-53.5%)	$2,956 (-52.5%)	0.1%	$17.59	-7.9%	COM	42250P103
GIS	GENERAL MILLS INC	37,922 (-61.9%)	$1,411 (-69.5%)	0.0%	$55.41	-17.9%	COM	370334104
CCI	CROWN CASTLE INC	7,781 (-81.1%)	$633 (-82.7%)	0.0%	$95.10	-6.7%	COM	22822V101
YETI	YETI HLDGS INC	23,894 (-72.8%)	$874 (-77.5%)	0.0%	$33.92	+39.8%	COM	98585X104
COST	COSTCO WHOLESALE CORPORATION	2,511 (-59.4%)	$2,502 (-53.1%)	0.1%	$838.50	+14.9%	COM	22160K105
CL	COLGATE PALMOLIVE CO	4,146 (-89.7%)	$353 (-88.9%)	0.0%	$83.76	+6.0%	COM	194162103
WPC	WP CAREY INC	65,618 (-40.6%)	$4,459 (-37.3%)	0.1%	$60.21	—	COM	92936U109
BURL	BURLINGTON STORES INC	214,385 (-14.1%)	$69,757 (-3.2%)	2.0%	$271.44	+12.1%	COM	122017106
SAM	BOSTON BEER INC	17,092 (-44.3%)	$3,938 (-34.2%)	0.1%	$241.66	-7.9%	CL A	100557107
OGS	ONE GAS INC	12,508 (-67.0%)	$1,077 (-63.2%)	0.0%	$76.39	+5.7%	COM	68235P108
SNAP	SNAP INC	28,879 (-87.6%)	$133 (-92.9%)	0.0%	$8.12	-18.8%	CL A	83304A106
VTR	VENTAS INC	27,329 (-46.7%)	$2,235 (-43.6%)	0.1%	$74.10	+4.4%	COM	92276F100
AEP	AMERICAN ELEC PWR CO INC	14,070 (-54.2%)	$1,844 (-47.9%)	0.1%	$102.31	+17.8%	COM	025537101
DTE	DTE ENERGY CO	9,028 (-61.0%)	$1,320 (-55.8%)	0.0%	$124.07	+10.3%	COM	233331107
TSCO	TRACTOR SUPPLY CO	27,686 (-52.4%)	$1,254 (-56.9%)	0.0%	$56.03	-5.9%	COM	892356106
CASY	CASEYS GEN STORES INC	1,199 (-73.6%)	$873 (-65.3%)	0.0%	$531.53	+18.7%	COM	147528103
POR	PORTLAND GEN ELEC CO	95,936 (-30.9%)	$5,063 (-24.0%)	0.1%	$42.03	+20.4%	COM NEW	736508847
HLT	HILTON WORLDWIDE HLDGS INC	2,788 (-66.6%)	$848 (-64.7%)	0.0%	$250.54	+21.8%	COM	43300A203
AEE	AMEREN CORP	11,166 (-59.4%)	$1,227 (-55.3%)	0.0%	$101.98	+2.6%	COM	023608102
GHC	GRAHAM HLDGS CO	291 (-82.2%)	$308 (-82.9%)	0.0%	$916.81	+22.9%	COM CL B	384637104
DRI	DARDEN RESTAURANTS INC	3,947 (-67.9%)	$774 (-65.8%)	0.0%	$185.36	+11.9%	COM	237194105
BJ	BJS WHSL CLUB HLDGS INC	4,026 (-80.4%)	$396 (-78.6%)	0.0%	$95.92	-0.2%	COM	05550J101
FIVE	FIVE BELOW INC	1,907 (-80.8%)	$436 (-76.7%)	0.0%	$111.01	+81.6%	COM	33829M101
NXST	NEXSTAR MEDIA GROUP INC	5,576 (-52.9%)	$1,008 (-58.1%)	0.0%	$158.73	+37.5%	COMMON STOCK	65336K103
DKNG	DRAFTKINGS INC NEW	10,045 (-78.3%)	$217 (-86.4%)	0.0%	$36.73	-21.2%	COM CL A	26142V105
ADM	ARCHER DANIELS MIDLAND CO	44,866 (-43.7%)	$3,261 (-28.8%)	0.1%	$58.18	+12.8%	COM	039483102
DG	DOLLAR GEN CORP	10,630 (-43.4%)	$1,262 (-49.4%)	0.0%	$108.38	+36.3%	COM	256677105
CELH	CELSIUS HLDGS INC	10,174 (-70.5%)	$361 (-77.1%)	0.0%	$50.38	+0.6%	COM NEW	15118V207
INVH	INVITATION HOMES INC	122,948 (-20.0%)	$3,055 (-28.4%)	0.1%	$27.64	+0.3%	COM	46187W107
VC	VISTEON CORP	4,487 (-68.9%)	$409 (-70.2%)	0.0%	$90.47	+8.0%	COM NEW	92839U206
TAP	MOLSON COORS BEVERAGE CO	42,227 (-28.7%)	$1,818 (-34.3%)	0.1%	$45.79	+8.1%	CL B	60871R209
TXRH	TEXAS ROADHOUSE INC	18,352 (-23.2%)	$3,031 (-23.6%)	0.1%	$164.79	+12.0%	COM	882681109
SO	SOUTHERN CO	13,882 (-44.2%)	$1,340 (-38.3%)	0.0%	$87.95	+1.8%	COM	842587107
VICI	VICI PPTYS INC	50,859 (-34.5%)	$1,389 (-36.4%)	0.0%	$31.09	-9.5%	COM	925652109
MUSA	MURPHY USA INC	4,325 (-39.9%)	$2,136 (-26.4%)	0.1%	$382.43	+7.9%	COM	626755102
CNP	CENTERPOINT ENERGY INC	16,091 (-57.6%)	$694 (-52.2%)	0.0%	$38.86	+3.0%	COM	15189T107
MZTI	MARZETTI COMPANY	8,453 (-26.2%)	$1,169 (-37.9%)	0.0%	$173.84	-5.4%	COM	513847103
SCI	SERVICE CORP INTL	16,604 (-36.7%)	$1,370 (-33.0%)	0.0%	$79.44	+1.9%	COM	817565104
SPG	SIMON PPTY GROUP INC NEW	2,268 (-61.3%)	$423 (-61.0%)	0.0%	$169.06	+8.8%	COM	828806109
TJX	TJX COS INC NEW	10,791 (-30.3%)	$1,723 (-27.6%)	0.0%	$128.68	+19.8%	COM	872540109
POST	POST HLDGS INC	1,442 (-81.8%)	$143 (-81.9%)	0.0%	$103.53	-0.7%	COM	737446104
BC	BRUNSWICK CORP	40,460 (-14.3%)	$2,944 (-16.1%)	0.1%	$49.68	+71.8%	COM	117043109
DAR	DARLING INGREDIENTS INC	5,470 (-76.5%)	$338 (-59.6%)	0.0%	$33.85	+33.6%	COM	237266101
NNN	NNN REIT INC	53,729 (-21.0%)	$2,258 (-16.3%)	0.1%	$40.57	—	COM	637417106
KHC	KRAFT HEINZ CO	151,369 (-3.2%)	$3,404 (-10.2%)	0.1%	$26.73	-10.5%	COM	500754106
CAG	CONAGRA BRANDS INC	19,339 (-51.1%)	$304 (-55.6%)	0.0%	$17.64	+2.2%	COM	205887102
CHDN	CHURCHILL DOWNS INC	11,789 (-5.3%)	$1,059 (-25.3%)	0.0%	$102.49	-2.6%	COM	171484108
ED	CONSOLIDATED EDISON INC	3,705 (-50.4%)	$419 (-43.5%)	0.0%	$99.12	+6.3%	COM	209115104
BKH	BLACK HILLS CORP	50,703 (-7.6%)	$3,519 (-7.6%)	0.1%	$54.70	+31.4%	COM	092113109
NYT	NEW YORK TIMES CO MTN BE	39,023 (-23.7%)	$3,267 (-8.0%)	0.1%	$56.84	+27.2%	CL A	650111107
LEA	LEAR CORP	27,086 (-12.5%)	$3,280 (-7.5%)	0.1%	$105.05	+21.6%	COM NEW	521865204
PK	PARK HOTELS & RESORTS INC	473,823 (-5.7%)	$4,989 (-5.1%)	0.1%	$10.71	—	COM	700517105
BYD	BOYD GAMING CORP	8,536 (-20.7%)	$701 (-23.5%)	0.0%	$79.37	+7.3%	COM	103304101
RCL	ROYAL CARIBBEAN GROUP	787 (-47.9%)	$217 (-48.6%)	0.0%	$281.58	+9.7%	COM	V7780T103
FE	FIRSTENERGY CORP	97,775 (-14.9%)	$4,953 (-3.7%)	0.1%	$41.61	+13.2%	COM	337932107
MCD	MCDONALDS CORP	2,839 (-4.7%)	$882 (-3.1%)	0.0%	$305.09	+4.0%	COM	580135101

Unchanged Positions (20)

PONY PONY AI INC 1.8%

Value ($000) $61,289 Shares 6,492,530 Est. Cost $13.20 Unrealized —

GFL GFL ENVIRONMENTAL INC 27.1%

Value ($000) $936,717 Shares 22,450,784 Est. Cost $15.60 Unrealized +175.1%

SA SEABRIDGE GOLD INC 1.4%

Value ($000) $47,216 Shares 1,664,634 Est. Cost $14.22 Unrealized +129.7%

AAL AMERICAN AIRLINES GROUP INC 0.1%

Value ($000) $4,919 Shares 458,000 Est. Cost — Unrealized —

— UBER TECHNOLOGIES INC 0.5%

Value ($000) $18,157 Shares 15,000,000 Est. Cost $1.47 Unrealized —

— H WORLD GROUP LTD 0.6%

Value ($000) $21,000 Shares 16,000,000 Est. Cost $1.26 Unrealized —

— AFFIRM HLDGS INC 0.1%

Value ($000) $2,331 Shares 2,500,000 Est. Cost $1.12 Unrealized —

BZH BEAZER HOMES USA INC 0.2%

Value ($000) $7,581 Shares 394,000 Est. Cost — Unrealized —

KBH KB HOME 0.1%

Value ($000) $3,995 Shares 77,200 Est. Cost — Unrealized —

— DROPBOX INC 0.1%

Value ($000) $4,759 Shares 5,000,000 Est. Cost $1.03 Unrealized —

— SPECTRUM BRANDS INC 0.1%

Value ($000) $3,934 Shares 4,000,000 Est. Cost $0.91 Unrealized —

OMC OMNICOM GROUP INC 0.0%

Value ($000) $1,650 Shares 21,913 Est. Cost $74.16 Unrealized +3.2%

— CABLE ONE INC 0.0%

Value ($000) $914 Shares 1,250,000 Est. Cost $0.74 Unrealized —

— BLOCK INC 0.2%

Value ($000) $6,990 Shares 7,000,000 Est. Cost $0.79 Unrealized —

— SNAP INC 0.2%

Value ($000) $5,687 Shares 6,000,000 Est. Cost $0.70 Unrealized —

— SEA LTD 0.3%

Value ($000) $9,805 Shares 10,000,000 Est. Cost $0.80 Unrealized —

LOPE GRAND CANYON ED INC 0.1%

Value ($000) $2,038 Shares 11,987 Est. Cost $154.30 Unrealized +9.7%

— UNITY SOFTWARE INC 0.1%

Value ($000) $2,429 Shares 2,500,000 Est. Cost $0.77 Unrealized —

— SNAP INC 0.1%

Value ($000) $3,656 Shares 4,000,000 Est. Cost $0.70 Unrealized —

POST POST HLDGS INC 0.2%

Value ($000) $5,240 Shares 53,000 Est. Cost $103.53 Unrealized -0.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PONY	PONY AI INC	6,492,530	$61,289	1.8%	$13.20	—	SPONSORED ADS	732908108
GFL	GFL ENVIRONMENTAL INC	22,450,784	$936,717	27.1%	$15.60	+175.1%	SUB VTG SHS	36168Q104
SA	SEABRIDGE GOLD INC	1,664,634	$47,216	1.4%	$14.22	+129.7%	COM	811916105
AAL	AMERICAN AIRLINES GROUP INC	458,000	$4,919	0.1%	—	—	PUT	02376R102
—	UBER TECHNOLOGIES INC	15,000,000	$18,157	0.5%	$1.47	—	NOTE 0.875%12/0	90353TAM2
—	H WORLD GROUP LTD	16,000,000	$21,000	0.6%	$1.26	—	NOTE 3.000% 5/0	44332NAB2
—	AFFIRM HLDGS INC	2,500,000	$2,331	0.1%	$1.12	—	NOTE 0.750%12/1	00827BAD8
BZH	BEAZER HOMES USA INC	394,000	$7,581	0.2%	—	—	PUT	07556Q881
KBH	KB HOME	77,200	$3,995	0.1%	—	—	PUT	48666K109
—	DROPBOX INC	5,000,000	$4,759	0.1%	$1.03	—	NOTE3/0	26210CAD6
—	SPECTRUM BRANDS INC	4,000,000	$3,934	0.1%	$0.91	—	NOTE 3.375% 6/0	84762LAZ8
OMC	OMNICOM GROUP INC	21,913	$1,650	0.0%	$74.16	+3.2%	COM	681919106
—	CABLE ONE INC	1,250,000	$914	0.0%	$0.74	—	NOTE 1.125% 3/1	12685JAG0
—	BLOCK INC	7,000,000	$6,990	0.2%	$0.79	—	NOTE5/0	852234AJ2
—	SNAP INC	6,000,000	$5,687	0.2%	$0.70	—	NOTE5/0	83304AAF3
—	SEA LTD	10,000,000	$9,805	0.3%	$0.80	—	NOTE 0.250% 9/1	81141RAG5
LOPE	GRAND CANYON ED INC	11,987	$2,038	0.1%	$154.30	+9.7%	COM	38526M106
—	UNITY SOFTWARE INC	2,500,000	$2,429	0.1%	$0.77	—	NOTE11/1	91332UAB7
—	SNAP INC	4,000,000	$3,656	0.1%	$0.70	—	NOTE 0.125% 3/0	83304AAH9
POST	POST HLDGS INC	53,000	$5,240	0.2%	$103.53	-0.7%	PUT	737446104