Brooklands Fund Management Ltd Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EXE	Expand Energy Corp	109,026	$11,969	13.5%	$105.80	0.0%	EXPAND ENERGY CORP	165167735
ZTS	Zoetis Inc	74,594	$7,659	8.6%	—	—	CALL	98978V103
MU	Micron Technology Inc	11,034	$3,728	4.2%	$387.04	0.0%	MICRON TECHNOLOGY INC	595112103
FSLR	First Solar Inc	18,428	$3,635	4.1%	$237.12	0.0%	FIRST SOLAR INC	336433107
RRC	Range Resources Corp	75,247	$3,400	3.8%	$36.16	0.0%	RANGE RESOURCES CORP	75281A109
PBF	PBF Energy Inc	66,745	$3,178	3.6%	—	—	CALL	69318G106
KNTK	Kinetik Holdings Inc	60,688	$2,880	3.2%	$40.27	0.0%	KINETIK HOLDINGS INC	02215L209
AR	Antero Resources Corp	67,511	$2,865	3.2%	$33.80	0.0%	ANTERO RESOURCES CORP	03674X106
BAK	Braskem SA	550,000	$2,013	2.3%	$3.66	—	BRASKEM SA-CLASS A- ADR	105532105
FPS	Forgent Power Solutions Inc	66,015	$1,922	2.2%	$29.12	—	FORGENT POWER SOLUTIONS INC	34631F102
MXCT	MaxCyte Inc	2,190,020	$1,538	1.7%	$1.04	0.0%	MAXCYTE INC	57777K106
BCS	Barclays PLC	66,379	$1,405	1.6%	$21.16	—	BARCLAYS PLC-SPONS ADR	06738E204
—	Bloom Energy Corp	1,105,000	$1,171	1.3%	$1.06	—	BLOOM ENERGY CORP 0.000% 11/15/30 CVT	093712AN7
UPS	United Parcel Service Inc	10,990	$1,081	1.2%	$109.86	0.0%	UNITED PARCEL SERVICE-CL B	911312106
MSFT	Microsoft Corp	2,899	$1,073	1.2%	$434.61	0.0%	MICROSOFT CORP	594918104
LNG	Cheniere Energy Inc	2,500	$709	0.8%	$209.78	0.0%	CHENIERE ENERGY INC	16411R208
BNO	United States Brent Oil Fund LP	1,000	$550	0.6%	—	—	CALL	91167Q100
VG	Venture Global Inc	21,000	$331	0.4%	$8.89	0.0%	VENTURE GLOBAL INC-CL A	92333F101
BRK/B	Berkshire Hathaway Inc	6	$311	0.3%	—	—	PUT	084670702
DOW	Dow Inc	1,000	$265	0.3%	—	—	CALL	260557103
MP	MP Materials Corp	1,500	$263	0.3%	—	—	CALL	553368101
—	Amarin Corp PLC	15,596	$226	0.3%	$14.46	—	AMARIN CORP PLC -ADR	023111206
HOOD	Robinhood Markets Inc	2,800	$194	0.2%	$95.75	0.0%	ROBINHOOD MARKETS INC - A	770700102
CF	CF Industries Holdings Inc	200	$176	0.2%	—	—	CALL	125269100
DBVT	DBV Technologies SA	7,000	$146	0.2%	—	—	CALL	23306J309
VG	Venture Global Inc	5,000	$105	0.1%	$8.89	0.0%	CALL	92333F101
CCJ	Cameco Corp	350	$81	0.1%	$89.94	+29.3%	PUT	13321L108
CBUS	Cibus Inc	33,008	$65	0.1%	—	—	CALL	17166A101
ALB	Albemarle Corp	750	$64	0.1%	—	—	PUT	012653101
QQQ	Invesco QQQ Trust Series 1	5	$35	0.0%	—	—	PUT	46090E103
CNC	Centene Corp	15	$16	0.0%	$43.34	0.0%	CNC US 01/21/28 C30	15135B101
CI	Cigna Group/The	3	$14	0.0%	$280.70	0.0%	CI US 01/21/28 C280	125523100
SMH	VanEck Semiconductor ETF	2	$14	0.0%	—	—	PUT	92189F676
CVX	Chevron Corp	1	$0	0.0%	$171.87	0.0%	CHEVRON CORP	166764100

Increased Positions (5)

ELV Elevance Health Inc 7.0%

Value ($000) $6,201 (+40699.2%) Shares 21,107 (+1055250.0%) Est. Cost $351.54 Unrealized +0.0%

LGO Largo Inc 1.0%

Value ($000) $851 (+551.2%) Shares 760,119 (+623.9%) Est. Cost $1.34 Unrealized +1.9%

HURC Hurco Cos Inc 5.9%

Value ($000) $5,208 (+3.0%) Shares 354,068 (+15.8%) Est. Cost $16.64 Unrealized +2.4%

WWR Westwater Resources Inc 0.4%

Value ($000) $376 (+50.7%) Shares 575,000 (+117.7%) Est. Cost $1.11 Unrealized -10.1%

NMG Nouveau Monde Graphite Inc 0.3%

Value ($000) $269 (+80.6%) Shares 120,000 (+88.6%) Est. Cost $2.77 Unrealized -6.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ELV	Elevance Health Inc	21,107 (+1055250.0%)	$6,201 (+40699.2%)	7.0%	$351.54	+0.0%	ELEVANCE HEALTH INC	036752103
LGO	Largo Inc	760,119 (+623.9%)	$851 (+551.2%)	1.0%	$1.34	+1.9%	LARGO INC	517097101
HURC	Hurco Cos Inc	354,068 (+15.8%)	$5,208 (+3.0%)	5.9%	$16.64	+2.4%	HURCO COMPANIES INC	447324104
WWR	Westwater Resources Inc	575,000 (+117.7%)	$376 (+50.7%)	0.4%	$1.11	-10.1%	WESTWATER RESOURCES INC	961684206
NMG	Nouveau Monde Graphite Inc	120,000 (+88.6%)	$269 (+80.6%)	0.3%	$2.77	-6.5%	NOUVEAU MONDE GRAPHITE INC	66979W842

Exited Positions (63)

WH WYNDHAM HOTELS & RESORTS INC 63.0%

Value ($000) $56,027 Shares 769,705 Est. Cost $75.40 Unrealized +4.2%

TMUS T-MOBILE US INC 31.1%

Value ($000) $27,609 Shares 140,000 Est. Cost $211.32 Unrealized -5.2%

EXE EXPAND ENERGY CORP 15.4%

Value ($000) $13,730 Shares 122,139 Est. Cost $105.80 Unrealized 0.0%

— ELEVANCE HEALTH INC 8.3%

Value ($000) $7,364 Shares 21,319 Est. Cost — Unrealized —

CNQ CANADIAN NATURAL RESOURCES 6.0%

Value ($000) $5,355 Shares 143,911 Est. Cost $32.42 Unrealized +14.7%

BE BLOOM ENERGY CORP 5.1%

Value ($000) $4,518 Shares 4,000,000 Est. Cost $105.07 Unrealized +37.7%

— BARCLAYS PLC-SPONS ADR 4.6%

Value ($000) $4,120 Shares 154,000 Est. Cost $26.75 Unrealized —

BBIO BRIDGEBIO PHARMA INC 3.2%

Value ($000) $2,810 Shares 2,750,000 Est. Cost $65.64 Unrealized +13.5%

TSLA TESLA INC 2.6%

Value ($000) $2,341 Shares 5,438 Est. Cost $443.29 Unrealized -3.9%

MSFT MICROSOFT CORP 2.6%

Value ($000) $2,331 Shares 5,418 Est. Cost $434.61 Unrealized 0.0%

EFX EQUIFAX INC 2.3%

Value ($000) $2,067 Shares 10,265 Est. Cost $218.67 Unrealized -6.6%

FIGR FIGR US 03/20/26 P55 1.3%

Value ($000) $1,125 Shares 1,500 Est. Cost $40.00 Unrealized +23.4%

AMZN AMAZON.COM INC 1.2%

Value ($000) $1,092 Shares 4,563 Est. Cost $228.79 Unrealized -0.9%

DKNG DRAFTKINGS INC-CL A 0.9%

Value ($000) $757 Shares 27,500 Est. Cost $32.89 Unrealized -12.0%

V VISA INC-CLASS A SHARES 0.7%

Value ($000) $646 Shares 2,006 Est. Cost $340.38 Unrealized -3.3%

IBIT ISHARES BITCOIN TRUST ETF 0.7%

Value ($000) $641 Shares 13,500 Est. Cost $47.49 Unrealized —

ETH GRAYSCALE ETHEREUM STAKING M 0.7%

Value ($000) $617 Shares 24,400 Est. Cost $25.28 Unrealized —

SABR SABRE CORP 0.6%

Value ($000) $556 Shares 428,000 Est. Cost $1.72 Unrealized -30.7%

CABO CABLE ONE INC 0.6%

Value ($000) $552 Shares 6,820 Est. Cost $136.41 Unrealized -30.2%

C CITIGROUP INC 0.5%

Value ($000) $464 Shares 4,000 Est. Cost $103.64 Unrealized +12.1%

AMRN AMARIN CORP PLC -ADR 0.5%

Value ($000) $447 Shares 2,994 Est. Cost $149.21 Unrealized —

WULF TERAWULF INC 0.5%

Value ($000) $401 Shares 30,000 Est. Cost $13.40 Unrealized +8.8%

XYZ BLOCK INC 0.4%

Value ($000) $389 Shares 6,438 Est. Cost $68.98 Unrealized -12.6%

QVCGA QVC GROUP INC 0.4%

Value ($000) $381 Shares 35,457 Est. Cost $10.88 Unrealized -25.6%

IWM IWM US 02/06/26 P253 0.3%

Value ($000) $268 Shares 2,501 Est. Cost $107.06 Unrealized —

CME CME GROUP INC 0.3%

Value ($000) $248 Shares 860 Est. Cost $270.74 Unrealized +6.9%

TSM TAIWAN SEMICONDUCTOR-SP ADR 0.3%

Value ($000) $248 Shares 750 Est. Cost $330.27 Unrealized —

HIVE HIVE DIGITAL TECHNOLOGIES LT 0.3%

Value ($000) $237 Shares 85,000 Est. Cost $4.23 Unrealized -36.0%

BITF BITFARMS LTD/CANADA 0.2%

Value ($000) $211 Shares 90,000 Est. Cost $3.42 Unrealized -28.2%

QCOM QUALCOMM INC 0.2%

Value ($000) $161 Shares 1,066 Est. Cost $170.79 Unrealized -9.9%

— FCX US 02/20/26 P55 0.2%

Value ($000) $148 Shares 1,621 Est. Cost — Unrealized —

AAON AAON INC 0.2%

Value ($000) $136 Shares 1,500 Est. Cost $92.29 Unrealized +0.9%

CCJ CCJ US 02/20/26 P110 0.2%

Value ($000) $135 Shares 600 Est. Cost $89.94 Unrealized +29.3%

SARO STANDARDAERO INC 0.1%

Value ($000) $133 Shares 4,200 Est. Cost $27.23 Unrealized +14.9%

— ALB US 02/20/26 P150 0.1%

Value ($000) $126 Shares 300 Est. Cost — Unrealized —

ORA ORMAT TECHNOLOGIES INC 0.1%

Value ($000) $125 Shares 1,000 Est. Cost $109.32 Unrealized +10.2%

D DOMINION ENERGY INC 0.1%

Value ($000) $120 Shares 2,000 Est. Cost $59.76 Unrealized +3.1%

— CPNG US 02/06/26 C21 0.1%

Value ($000) $108 Shares 2,000 Est. Cost — Unrealized —

NEE NEXTERA ENERGY INC 0.1%

Value ($000) $88 Shares 1,000 Est. Cost $82.50 Unrealized +5.7%

SCCO SCCO US 02/20/26 P170 0.1%

Value ($000) $86 Shares 238 Est. Cost — Unrealized —

HNRG HALLADOR ENERGY CO 0.1%

Value ($000) $77 Shares 4,150 Est. Cost $20.26 Unrealized -5.4%

PYPL PAYPAL HOLDINGS INC 0.1%

Value ($000) $75 Shares 1,419 Est. Cost $64.84 Unrealized -22.8%

GOOG ALPHABET INC-CL C 0.1%

Value ($000) $56 Shares 165 Est. Cost $286.33 Unrealized +13.0%

CAT CAT US 02/20/26 P600 0.1%

Value ($000) $51 Shares 151 Est. Cost $555.50 Unrealized +23.2%

— CCJ US 02/20/26 P100 0.1%

Value ($000) $48 Shares 700 Est. Cost — Unrealized —

— CNC US 01/21/28 C30 0.0%

Value ($000) $33 Shares 15 Est. Cost — Unrealized —

COIN COINBASE GLOBAL INC -CLASS A 0.0%

Value ($000) $29 Shares 150 Est. Cost $297.98 Unrealized -32.7%

ICE INTERCONTINENTAL EXCHANGE IN 0.0%

Value ($000) $28 Shares 160 Est. Cost $156.20 Unrealized +5.6%

— ADVANCED MICRO DEVICES 0.0%

Value ($000) $23 Shares 96 Est. Cost $236.73 Unrealized —

FCX FCX US 02/20/26 P50 0.0%

Value ($000) $22 Shares 1,000 Est. Cost $43.31 Unrealized +41.1%

JD JD.COM INC-ADR 0.0%

Value ($000) $19 Shares 68 Est. Cost $284.81 Unrealized —

— UNH US 01/21/28 C280 0.0%

Value ($000) $19 Shares 3 Est. Cost — Unrealized —

— ELV US 01/15/27 C310 0.0%

Value ($000) $17 Shares 3 Est. Cost — Unrealized —

— CI US 01/21/28 C280 0.0%

Value ($000) $16 Shares 3 Est. Cost — Unrealized —

— CCJ US 02/20/26 P90 0.0%

Value ($000) $13 Shares 499 Est. Cost — Unrealized —

TONX TON STRATEGY CO 0.0%

Value ($000) $10 Shares 4,000 Est. Cost $3.65 Unrealized -35.3%

NDAQ NASDAQ INC 0.0%

Value ($000) $10 Shares 105 Est. Cost $89.74 Unrealized +2.2%

NFLX NETFLIX INC 0.0%

Value ($000) $6 Shares 72 Est. Cost $107.81 Unrealized -22.2%

— CAT US 02/20/26 P550 0.0%

Value ($000) $6 Shares 100 Est. Cost — Unrealized —

MA MASTERCARD INC - A 0.0%

Value ($000) $6 Shares 11 Est. Cost $558.95 Unrealized -3.6%

CRM SALESFORCE INC 0.0%

Value ($000) $3 Shares 15 Est. Cost $248.17 Unrealized -13.1%

SNAP SNAP INC - A 0.0%

Value ($000) $0 Shares 50 Est. Cost $7.91 Unrealized -16.6%

GNR SPDR S&P GL NAT RESOURCES 0.0%

Value ($000) $0 Shares 1 Est. Cost $68.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WH	WYNDHAM HOTELS & RESORTS INC	769,705	$56,027	63.0%	$75.40	+4.2%	—	98311A105
TMUS	T-MOBILE US INC	140,000	$27,609	31.1%	$211.32	-5.2%	—	872590104
EXE	EXPAND ENERGY CORP	122,139	$13,730	15.4%	$105.80	0.0%	PUT	165167735
—	ELEVANCE HEALTH INC	21,319	$7,364	8.3%	—	—	CALL	036752903
CNQ	CANADIAN NATURAL RESOURCES	143,911	$5,355	6.0%	$32.42	+14.7%	—	136385101
BE	BLOOM ENERGY CORP	4,000,000	$4,518	5.1%	$105.07	+37.7%	—	093712107
—	BARCLAYS PLC-SPONS ADR	154,000	$4,120	4.6%	$26.75	—	—	06738C908
BBIO	BRIDGEBIO PHARMA INC	2,750,000	$2,810	3.2%	$65.64	+13.5%	—	10806X102
TSLA	TESLA INC	5,438	$2,341	2.6%	$443.29	-3.9%	—	88160R101
MSFT	MICROSOFT CORP	5,418	$2,331	2.6%	$434.61	0.0%	CALL	594918104
EFX	EQUIFAX INC	10,265	$2,067	2.3%	$218.67	-6.6%	—	294429105
FIGR	FIGR US 03/20/26 P55	1,500	$1,125	1.3%	$40.00	+23.4%	—	349381103
AMZN	AMAZON.COM INC	4,563	$1,092	1.2%	$228.79	-0.9%	—	023135106
DKNG	DRAFTKINGS INC-CL A	27,500	$757	0.9%	$32.89	-12.0%	—	26142V105
V	VISA INC-CLASS A SHARES	2,006	$646	0.7%	$340.38	-3.3%	—	92826C839
IBIT	ISHARES BITCOIN TRUST ETF	13,500	$641	0.7%	$47.49	—	—	46438F101
ETH	GRAYSCALE ETHEREUM STAKING M	24,400	$617	0.7%	$25.28	—	—	38964R203
SABR	SABRE CORP	428,000	$556	0.6%	$1.72	-30.7%	—	78573M104
CABO	CABLE ONE INC	6,820	$552	0.6%	$136.41	-30.2%	—	12685J105
C	CITIGROUP INC	4,000	$464	0.5%	$103.64	+12.1%	—	172967424
AMRN	AMARIN CORP PLC -ADR	2,994	$447	0.5%	$149.21	—	—	023111404
WULF	TERAWULF INC	30,000	$401	0.5%	$13.40	+8.8%	—	88080T104
XYZ	BLOCK INC	6,438	$389	0.4%	$68.98	-12.6%	—	852234103
QVCGA	QVC GROUP INC	35,457	$381	0.4%	$10.88	-25.6%	—	74915M605
IWM	IWM US 02/06/26 P253	2,501	$268	0.3%	$107.06	—	—	464287655
CME	CME GROUP INC	860	$248	0.3%	$270.74	+6.9%	—	12572Q105
TSM	TAIWAN SEMICONDUCTOR-SP ADR	750	$248	0.3%	$330.27	—	—	874039100
HIVE	HIVE DIGITAL TECHNOLOGIES LT	85,000	$237	0.3%	$4.23	-36.0%	—	433921103
BITF	BITFARMS LTD/CANADA	90,000	$211	0.2%	$3.42	-28.2%	—	09173B107
QCOM	QUALCOMM INC	1,066	$161	0.2%	$170.79	-9.9%	—	747525103
—	FCX US 02/20/26 P55	1,621	$148	0.2%	—	—	PUT	35671D957
AAON	AAON INC	1,500	$136	0.2%	$92.29	+0.9%	—	000360206
CCJ	CCJ US 02/20/26 P110	600	$135	0.2%	$89.94	+29.3%	—	13321L108
SARO	STANDARDAERO INC	4,200	$133	0.1%	$27.23	+14.9%	—	85423L103
—	ALB US 02/20/26 P150	300	$126	0.1%	—	—	PUT	012653951
ORA	ORMAT TECHNOLOGIES INC	1,000	$125	0.1%	$109.32	+10.2%	—	686688102
D	DOMINION ENERGY INC	2,000	$120	0.1%	$59.76	+3.1%	—	25746U109
—	CPNG US 02/06/26 C21	2,000	$108	0.1%	—	—	CALL	22266T909
NEE	NEXTERA ENERGY INC	1,000	$88	0.1%	$82.50	+5.7%	—	65339F101
SCCO	SCCO US 02/20/26 P170	238	$86	0.1%	—	—	PUT	84265V105
HNRG	HALLADOR ENERGY CO	4,150	$77	0.1%	$20.26	-5.4%	—	40609P105
PYPL	PAYPAL HOLDINGS INC	1,419	$75	0.1%	$64.84	-22.8%	—	70450Y103
GOOG	ALPHABET INC-CL C	165	$56	0.1%	$286.33	+13.0%	—	02079K107
CAT	CAT US 02/20/26 P600	151	$51	0.1%	$555.50	+23.2%	—	149123101
—	CCJ US 02/20/26 P100	700	$48	0.1%	—	—	PUT	13321L958
—	CNC US 01/21/28 C30	15	$33	0.0%	—	—	CALL	15135B901
COIN	COINBASE GLOBAL INC -CLASS A	150	$29	0.0%	$297.98	-32.7%	—	19260Q107
ICE	INTERCONTINENTAL EXCHANGE IN	160	$28	0.0%	$156.20	+5.6%	—	45866F104
—	ADVANCED MICRO DEVICES	96	$23	0.0%	$236.73	—	—	00790R954
FCX	FCX US 02/20/26 P50	1,000	$22	0.0%	$43.31	+41.1%	—	35671D857
JD	JD.COM INC-ADR	68	$19	0.0%	$284.81	—	—	47215P106
—	UNH US 01/21/28 C280	3	$19	0.0%	—	—	CALL	91324P902
—	ELV US 01/15/27 C310	3	$17	0.0%	—	—	PUT	036752953
—	CI US 01/21/28 C280	3	$16	0.0%	—	—	CALL	125523900
—	CCJ US 02/20/26 P90	499	$13	0.0%	—	—	CALL	13321L908
TONX	TON STRATEGY CO	4,000	$10	0.0%	$3.65	-35.3%	—	92337U302
NDAQ	NASDAQ INC	105	$10	0.0%	$89.74	+2.2%	—	631103108
NFLX	NETFLIX INC	72	$6	0.0%	$107.81	-22.2%	—	64110L106
—	CAT US 02/20/26 P550	100	$6	0.0%	—	—	PUT	149123951
MA	MASTERCARD INC - A	11	$6	0.0%	$558.95	-3.6%	—	57636Q104
CRM	SALESFORCE INC	15	$3	0.0%	$248.17	-13.1%	—	79466L302
SNAP	SNAP INC - A	50	$0	0.0%	$7.91	-16.6%	—	83304A106
GNR	SPDR S&P GL NAT RESOURCES	1	$0	0.0%	$68.00	—	—	78463X541

Decreased Positions (9)

CPNG Coupang Inc 1.2%

Value ($000) $1,039 (-97.0%) Shares 55,012 (-96.8%) Est. Cost $28.45 Unrealized -30.2%

SLB SLB Ltd 0.9%

Value ($000) $839 (-68.7%) Shares 16,000 (-71.1%) Est. Cost $36.06 Unrealized +33.9%

DAR Darling Ingredients Inc 5.6%

Value ($000) $4,983 (-24.9%) Shares 80,570 (-44.6%) Est. Cost $33.85 Unrealized +33.6%

SPGI S&P Global Inc 0.1%

Value ($000) $81 (-95.3%) Shares 202 (-93.8%) Est. Cost $494.21 Unrealized -1.8%

META Meta Platforms Inc 0.3%

Value ($000) $279 (-74.2%) Shares 487 (-67.7%) Est. Cost $667.32 Unrealized -1.8%

KNSL Kinsale Capital Group Inc 0.7%

Value ($000) $599 (-56.8%) Shares 1,753 (-50.0%) Est. Cost $407.67 Unrealized -3.5%

NVA Nova Minerals Ltd 0.4%

Value ($000) $352 (-63.4%) Shares 60,000 (-47.5%) Est. Cost $8.42 Unrealized —

TIC TIC Solutions Inc 0.3%

Value ($000) $283 (-65.0%) Shares 43,000 (-46.3%) Est. Cost $11.13 Unrealized -7.9%

MCO Moody's Corp 0.1%

Value ($000) $88 (-48.5%) Shares 202 (-39.2%) Est. Cost $487.35 Unrealized +0.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPNG	Coupang Inc	55,012 (-96.8%)	$1,039 (-97.0%)	1.2%	$28.45	-30.2%	COUPANG INC	22266T109
SLB	SLB Ltd	16,000 (-71.1%)	$839 (-68.7%)	0.9%	$36.06	+33.9%	SLB LTD	806857108
DAR	Darling Ingredients Inc	80,570 (-44.6%)	$4,983 (-24.9%)	5.6%	$33.85	+33.6%	DARLING INGREDIENTS INC	237266101
SPGI	S&P Global Inc	202 (-93.8%)	$81 (-95.3%)	0.1%	$494.21	-1.8%	S&P GLOBAL INC	78409V104
META	Meta Platforms Inc	487 (-67.7%)	$279 (-74.2%)	0.3%	$667.32	-1.8%	META PLATFORMS INC-CLASS A	30303M102
KNSL	Kinsale Capital Group Inc	1,753 (-50.0%)	$599 (-56.8%)	0.7%	$407.67	-3.5%	KINSALE CAPITAL GROUP INC	49714P108
NVA	Nova Minerals Ltd	60,000 (-47.5%)	$352 (-63.4%)	0.4%	$8.42	—	NOVA MINERALS LTD-ADR	66982D104
TIC	TIC Solutions Inc	43,000 (-46.3%)	$283 (-65.0%)	0.3%	$11.13	-7.9%	TIC SOLUTIONS INC	00510N102
MCO	Moody's Corp	202 (-39.2%)	$88 (-48.5%)	0.1%	$487.35	+0.5%	MOODY'S CORP	615369105

Unchanged Positions (9)

MOH Molina Healthcare Inc 4.3%

Value ($000) $3,848 Shares 28,787 Est. Cost $164.37 Unrealized +2.6%

NVO Novo Nordisk A/S 1.5%

Value ($000) $1,334 Shares 35,445 Est. Cost $59.43 Unrealized —

UWMC UWM Holdings Corp 2.3%

Value ($000) $2,048 Shares 554,900 Est. Cost $5.38 Unrealized -5.6%

UNH UnitedHealth Group Inc 5.6%

Value ($000) $4,943 Shares 18,218 Est. Cost $337.21 Unrealized -8.5%

RKT Rocket Cos Inc 1.2%

Value ($000) $1,081 Shares 75,860 Est. Cost $17.88 Unrealized +12.7%

TLF Tandy Leather Factory Inc 0.5%

Value ($000) $475 Shares 205,717 Est. Cost $2.84 Unrealized +2.3%

UAMY United States Antimony Corp 0.7%

Value ($000) $611 Shares 70,000 Est. Cost $7.85 Unrealized +5.1%

PGR Progressive Corp/The 0.0%

Value ($000) $39 Shares 202 Est. Cost $212.34 Unrealized -2.7%

CPRT Copart Inc 0.0%

Value ($000) $7 Shares 200 Est. Cost $41.46 Unrealized -5.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MOH	Molina Healthcare Inc	28,787	$3,848	4.3%	$164.37	+2.6%	MOH US 01/21/28 C150	60855R100
NVO	Novo Nordisk A/S	35,445	$1,334	1.5%	$59.43	—	NOVO-NORDISK A/S-SPONS ADR	670100205
UWMC	UWM Holdings Corp	554,900	$2,048	2.3%	$5.38	-5.6%	UWM HOLDINGS CORP	91823B109
UNH	UnitedHealth Group Inc	18,218	$4,943	5.6%	$337.21	-8.5%	UNH US 01/21/28 C280	91324P102
RKT	Rocket Cos Inc	75,860	$1,081	1.2%	$17.88	+12.7%	ROCKET COS INC-CLASS A	77311W101
TLF	Tandy Leather Factory Inc	205,717	$475	0.5%	$2.84	+2.3%	TANDY LEATHER FACTORY INC	87538X105
UAMY	United States Antimony Corp	70,000	$611	0.7%	$7.85	+5.1%	UNITED STATES ANTIMONY CORP	911549103
PGR	Progressive Corp/The	202	$39	0.0%	$212.34	-2.7%	PROGRESSIVE CORP	743315103
CPRT	Copart Inc	200	$7	0.0%	$41.46	-5.6%	COPART INC	217204106