Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SMH	VANECK ETF TRUST	5,327,900	$2.043B	14.9%	$383.40	$383.40	—	Put	92189F676
NVDA	NVIDIA CORPORATION	8,992,300	$1.568B	11.5%	$174.40 *	$186.63	0.0%	Put	67066G104
ORCL	ORACLE CORP	7,293,000	$1.073B	7.8%	$147.11	—	—	Put	68389X105
AVGO	BROADCOM INC	3,251,100	$1.006B	7.4%	$309.51	—	—	Put	11135F101
AMD	ADVANCED MICRO DEVICES INC	4,764,100	$969M	7.1%	$203.43 *	$221.70	0.0%	Put	007903107
BE	BLOOM ENERGY CORP	6,485,408	$879M	6.4%	$135.49 *	$105.07	+37.7%	COM CL A	093712107
SNDK	SANDISK CORP	1,140,119	$724M	5.3%	$635.34 *	$209.81	+146.2%	COM	80004C200
MU	MICRON TECHNOLOGY INC	1,727,700	$584M	4.3%	$337.84 *	$387.04	0.0%	Put	595112103
CRWV	COREWEAVE INC	7,177,919	$556M	4.1%	$77.47 *	$109.60	-16.5%	COM CL A	21873S108
TSM	TAIWAN SEMICONDUCTOR MANUFAC	1,583,400	$535M	3.9%	$337.95	$337.95	—	Put	874039100
ASML	ASML HLDG NV N Y REGISTRY	374,100	$494M	3.6%	$1320.83	$1320.83	—	Put	N07059210
MU	MICRON TECHNOLOGY INC	1,250,000	$422M	3.1%	$337.84 *	$387.04	0.0%	Call	595112103
IREN	IREN LIMITED	11,698,835	$401M	2.9%	$34.28 *	$25.51	+89.2%	ORDINARY SHARES	Q4982L109
CORZ	CORE SCIENTIFIC INC NEW	26,008,473	$389M	2.8%	$14.96 *	$14.41	+22.8%	COM	21874A106
SNDK	SANDISK CORP	611,900	$389M	2.8%	$635.34 *	$209.81	+146.2%	Call	80004C200
TSM	TAIWAN SEMICONDUCTOR MANUFAC	1,050,000	$355M	2.6%	$337.95	$337.95	—	Call	874039100
APLD	APPLIED DIGITAL CORP	13,478,438	$320M	2.3%	$23.74 *	$20.17	+70.1%	COM NEW	038169207
INTC	INTEL CORP	3,605,400	$159M	1.2%	$44.13 *	$46.43	+0.0%	Put	458140100
RIOT	RIOT PLATFORMS INC	11,502,137	$142M	1.0%	$12.36 *	$15.52	+2.3%	COM	767292105
CRWV	COREWEAVE INC	1,814,500	$141M	1.0%	$77.47 *	$109.60	-16.5%	Call	21873S108
CLSK	CLEANSPARK INC	12,276,139	$104M	0.8%	$8.51 *	$11.82	-4.1%	COM NEW	18452B209
SEI	SOLARIS ENERGY INFRAS INC	1,105,551	$62.47M	0.5%	$56.51 *	$37.71	+40.6%	COM CL A	83418M103
BE	BLOOM ENERGY CORP	408,500	$55.35M	0.4%	$135.49 *	$105.07	+37.7%	Call	093712107
TE	T1 ENERGY INC	10,000,000	$43.9M	0.3%	$4.39 *	$7.59	0.0%	COM NEW	35834F104
BITF	BITFARMS LTD	19,875,840	$38.76M	0.3%	$1.95 *	$2.79	-12.0%	COM	09173B107
BTDR	BITDEER TECHNOLOGIES GROUP	3,439,450	$29.75M	0.2%	$8.65 *	$13.58	-11.6%	CL A ORD SHS	G11448100
PSIX	POWER SOLUTIONS INTL INC	432,300	$26.32M	0.2%	$60.88 *	$71.37	+10.1%	COM NEW	73933G202
GLW	CORNING INC	154,600	$21.02M	0.2%	$135.97 *	$111.68	0.0%	Put	219350105
WYFI	WHITEFIBER INC	1,757,600	$20.93M	0.2%	$11.91 *	$24.72	-24.4%	SHS	G96115103
AMD	ADVANCED MICRO DEVICES INC	99,138	$20.17M	0.1%	$203.43 *	$221.70	0.0%	COM	007903107
BW	BABCOCK & WILCOX ENTERPRISES	1,353,900	$19.89M	0.1%	$14.69 *	$4.93	+80.3%	COM	05614L209
SHAZ	SHARONAI HOLDINGS INC	796,108	$18.1M	0.1%	$22.73	$22.73	—	COM CL A ADDED	778920306
PUMP	PROPETRO HLDG CORP	910,300	$13.12M	0.1%	$14.41 *	$8.69	+24.9%	COM	74347M108
SMH	VANECK ETF TRUST	26,950	$10.33M	0.1%	$383.40	$383.40	—	SEMICONDUCTR ETF	92189F676
INTC	INTEL CORP	202,344	$8.929M	0.1%	$44.13 *	$46.43	+0.0%	COM	458140100
TSM	TAIWAN SEMICONDUCTOR MANUFAC	22,423	$7.578M	0.1%	$337.95	$337.95	—	SPONSORED ADS	874039100
INFY	INFOSYS LTD	500,000	$6.755M	0.0%	$13.51	—	—	Put	456788108
HIVE	HIVE DIGITAL TECHNOLOGIES LT	3,391,547	$6.444M	0.0%	$1.90 *	$2.70	0.0%	COM NEW	433921103
ASML	ASML HLDG NV N Y REGISTRY	4,633	$6.119M	0.0%	$1320.83	$1320.83	—	SHS	N07059210
MU	MICRON TECHNOLOGY INC	17,362	$5.866M	0.0%	$337.84 *	$387.04	0.0%	COM	595112103
GLW	CORNING INC	5,283	$718K	0.0%	$135.97 *	$111.68	0.0%	COM	219350105
NVDA	NVIDIA CORPORATION	2,855	$498K	0.0%	$174.40 *	$186.63	0.0%	COM	67066G104