Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SMH	VANECK ETF TRUST	54,000	$35.42M	6.4%	—	—	PUT	92189F676
AVGO	BROADCOM INC	48,500	$18.32M	3.3%	—	—	CALL	11135F101
NOK	NOKIA CORP	1,284,600	$17.06M	3.1%	—	—	CALL	654902204
AMAT	APPLIED MATLS INC	23,200	$16.77M	3.0%	—	—	COM	038222105
DRAM	ROUNDHILL ETF TRUST	193,100	$14.26M	2.6%	—	—	PUT	77926X320
SNDK	SANDISK CORP	6,180	$14.05M	2.5%	—	—	COM	80004C200
COHU	COHU INC	157,357	$11.63M	2.1%	—	—	COM	192576106
EQT	EQT CORP	198,900	$10.58M	1.9%	—	—	CALL	26884L109
KWEB	KRANESHARES TRUST	402,600	$9.852M	1.8%	—	—	CALL	500767306
MSTR	STRATEGY INC	107,500	$9.345M	1.7%	—	—	PUT	594972408
KMB	KIMBERLY-CLARK CORP	76,600	$8.408M	1.5%	—	—	CALL	494368103
PANW	PALO ALTO NETWORKS INC	22,982	$7.837M	1.4%	—	—	COM	697435105
INTU	INTUIT	27,300	$7.125M	1.3%	—	—	CALL	461202103
HD	HOME DEPOT INC	18,400	$6.489M	1.2%	—	—	CALL	437076102
DRAM	ROUNDHILL ETF TRUST	87,000	$6.425M	1.2%	—	—	CALL	77926X320
GM	GENERAL MTRS CO	82,200	$6.336M	1.1%	—	—	CALL	37045V100
ASX	ASE TECHNOLOGY HLDG CO LTD	127,900	$5.771M	1.0%	—	—	SPONSORED ADS	00215W100
LRCX	LAM RESEARCH CORP	12,880	$5.581M	1.0%	—	—	COM NEW	512807306
SPCX	SPACE EXPLORATION TECHN CORP	31,000	$5.297M	1.0%	—	—	CALL	84615Q103
RDDT	REDDIT INC	30,200	$5.242M	0.9%	—	—	CL A	75734B100
PLTR	PALANTIR TECHNOLOGIES INC	43,800	$5.11M	0.9%	—	—	CALL	69608A108
ACMR	ACM RESH INC	37,725	$4.787M	0.9%	—	—	COM CL A	00108J109
NOK	NOKIA CORP	337,585	$4.483M	0.8%	—	—	SPONSORED ADR	654902204
AMD	ADVANCED MICRO DEVICES INC	7,500	$4.357M	0.8%	—	—	CALL	007903107
PUMP	PROPETRO HLDG CORP	303,000	$4.345M	0.8%	—	—	CALL	74347M108
VICR	VICOR CORP	11,255	$4.274M	0.8%	—	—	COM	925815102
BOX	BOX INC	158,500	$4.207M	0.8%	—	—	CALL	10316T104
FCX	FREEPORT MCMORAN INC	65,000	$4.088M	0.7%	—	—	CALL	35671D857
DELL	DELL TECHNOLOGIES INC	8,500	$3.667M	0.7%	—	—	CALL	24703L202
TER	TERADYNE INC	6,700	$3.242M	0.6%	—	—	CALL	880770102
ARM	ARM HOLDINGS PLC	7,800	$2.766M	0.5%	—	—	CALL	042068205
BLZE	BACKBLAZE INC	167,100	$2.65M	0.5%	—	—	CALL	05637B105
RCAT	RED CAT HLDGS INC	223,400	$2.379M	0.4%	—	—	CALL	75644T100
AMRC	AMERESCO INC	81,500	$2.249M	0.4%	—	—	CALL	02361E108
CBRS	CEREBRAS SYSTEMS INC	5,700	$1.26M	0.2%	—	—	COM CL A	15675D103
POWI	POWER INTEGRATIONS INC	14,800	$1.24M	0.2%	—	—	CALL	739276103
NVTS	NAVITAS SEMICONDUCTOR CORP	68,765	$1.232M	0.2%	—	—	COM	63942X106
HIMS	HIMS & HERS HEALTH INC	33,500	$1.161M	0.2%	—	—	CALL	433000106
IONQ	IONQ INC	13,500	$719K	0.1%	—	—	CALL	46222L108
SPCE	VIRGIN GALACTIC HOLDINGS INC	242,700	$701K	0.1%	—	—	PUT	92766K403
HNGE	HINGE HEALTH INC	5,000	$415K	0.1%	—	—	CL A	433313103

Increased Positions (11)

QQQ INVESCO QQQ TR 15.0%

Value $82.92M (+465.6%) Shares 112,600 (+343.3%) Est. Cost — Unrealized —

INTC INTEL CORP 5.2%

Value $28.87M (+715.7%) Shares 206,750 (+157.8%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 3.6%

Value $20.18M (+188.4%) Shares 54,100 (+186.2%) Est. Cost — Unrealized —

AEHR AEHR TEST SYS 2.0%

Value $11.32M (+280.7%) Shares 117,865 (+47.0%) Est. Cost — Unrealized —

AAOI APPLIED OPTOELECTRONICS INC 1.4%

Value $7.904M (+155.3%) Shares 53,345 (+45.8%) Est. Cost — Unrealized —

BE BLOOM ENERGY CORP 1.1%

Value $6.281M (+152.6%) Shares 20,750 (+13.1%) Est. Cost — Unrealized —

NBIS NEBIUS GROUP N.V. 0.9%

Value $5.082M (+211.9%) Shares 18,400 (+17.2%) Est. Cost — Unrealized —

FRMI FERMI INC 0.5%

Value $2.714M (+411.3%) Shares 296,300 (+226.0%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 1.8%

Value $9.791M (+17.5%) Shares 48,935 (+2.4%) Est. Cost — Unrealized —

OKLO OKLO INC 0.5%

Value $2.711M (+107.1%) Shares 51,800 (+96.2%) Est. Cost — Unrealized —

PURR HYPERLIQUID STRATEGIES INC 0.5%

Value $2.845M (+83.1%) Shares 361,500 (+18.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	112,600 (+343.3%)	$82.92M (+465.6%)	15.0%	—	—	PUT	46090E103
INTC	INTEL CORP	206,750 (+157.8%)	$28.87M (+715.7%)	5.2%	—	—	COM	458140100
MSFT	MICROSOFT CORP	54,100 (+186.2%)	$20.18M (+188.4%)	3.6%	—	—	CALL	594918104
AEHR	AEHR TEST SYS	117,865 (+47.0%)	$11.32M (+280.7%)	2.0%	—	—	COM	00760J108
AAOI	APPLIED OPTOELECTRONICS INC	53,345 (+45.8%)	$7.904M (+155.3%)	1.4%	—	—	COM	03823U102
BE	BLOOM ENERGY CORP	20,750 (+13.1%)	$6.281M (+152.6%)	1.1%	—	—	COM CL A	093712107
NBIS	NEBIUS GROUP N.V.	18,400 (+17.2%)	$5.082M (+211.9%)	0.9%	—	—	CALL	N97284108
FRMI	FERMI INC	296,300 (+226.0%)	$2.714M (+411.3%)	0.5%	—	—	CALL	314911108
NVDA	NVIDIA CORPORATION	48,935 (+2.4%)	$9.791M (+17.5%)	1.8%	—	—	COM	67066G104
OKLO	OKLO INC	51,800 (+96.2%)	$2.711M (+107.1%)	0.5%	—	—	CALL	02156V109
PURR	HYPERLIQUID STRATEGIES INC	361,500 (+18.4%)	$2.845M (+83.1%)	0.5%	—	—	COM	44916Y106

Exited Positions (28)

TSM TAIWAN SEMICONDUCTOR MANUFAC 67.3%

Value $372M Shares 19,300 Est. Cost — Unrealized —

GOOGL ALPHABET INC 3.1%

Value $17.22M Shares 59,900 Est. Cost — Unrealized —

AMD ADVANCED MICRO DEVICES INC 2.5%

Value $14.1M Shares 69,300 Est. Cost — Unrealized —

AMZN AMAZON COM INC 2.0%

Value $11.29M Shares 54,200 Est. Cost — Unrealized —

EWY ISHARES INC 2.0%

Value $11.07M Shares 90,000 Est. Cost — Unrealized —

TSLA TESLA INC 1.9%

Value $10.78M Shares 29,000 Est. Cost — Unrealized —

META META PLATFORMS INC 1.4%

Value $7.581M Shares 13,250 Est. Cost — Unrealized —

BABA ALIBABA GROUP HLDG LTD 1.1%

Value $6.097M Shares 48,600 Est. Cost — Unrealized —

XBI SPDR SERIES TRUST 1.0%

Value $5.569M Shares 43,600 Est. Cost — Unrealized —

FORM FORMFACTOR INC 1.0%

Value $5.373M Shares 55,400 Est. Cost — Unrealized —

VRSN VERISIGN INC 0.9%

Value $4.967M Shares 20,000 Est. Cost — Unrealized —

SE SEA LTD 0.9%

Value $4.927M Shares 59,500 Est. Cost — Unrealized —

CIEN CIENA CORP 0.9%

Value $4.775M Shares 12,300 Est. Cost — Unrealized —

MU MICRON TECHNOLOGY INC 0.7%

Value $4.054M Shares 12,000 Est. Cost — Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.7%

Value $3.876M Shares 26,500 Est. Cost — Unrealized —

TIGO MILLICOM INTL CELLULAR S A 0.7%

Value $3.687M Shares 49,200 Est. Cost — Unrealized —

OXY OCCIDENTAL PETE CORP 0.7%

Value $3.679M Shares 56,600 Est. Cost — Unrealized —

AA ALCOA CORP 0.7%

Value $3.661M Shares 55,200 Est. Cost — Unrealized —

BW BABCOCK & WILCOX ENTERPRISES 0.5%

Value $2.922M Shares 198,900 Est. Cost — Unrealized —

POET POET TECHNOLOGIES INC 0.4%

Value $1.938M Shares 326,300 Est. Cost — Unrealized —

IOT SAMSARA INC 0.3%

Value $1.724M Shares 54,400 Est. Cost — Unrealized —

NUAI NEW ERA ENERGY & DIGITAL INC 0.3%

Value $1.648M Shares 406,000 Est. Cost — Unrealized —

CQP CHENIERE ENERGY PARTNERS L P 0.2%

Value $1.034M Shares 16,000 Est. Cost — Unrealized —

USAR USA RARE EARTH INC 0.1%

Value $572K Shares 37,800 Est. Cost — Unrealized —

EOSE EOS ENERGY ENTERPRISES INC 0.1%

Value $509K Shares 102,600 Est. Cost — Unrealized —

BW BABCOCK & WILCOX ENTERPRISES 0.1%

Value $485K Shares 33,000 Est. Cost — Unrealized —

VG VENTURE GLOBAL INC 0.1%

Value $385K Shares 24,400 Est. Cost — Unrealized —

CRCL CIRCLE INTERNET GROUP INC 0.0%

Value $219K Shares 2,300 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	19,300	$372M	67.3%	—	—	CALL	874039100
GOOGL	ALPHABET INC	59,900	$17.22M	3.1%	—	—	CALL	02079K305
AMD	ADVANCED MICRO DEVICES INC	69,300	$14.1M	2.5%	—	—	PUT	007903107
AMZN	AMAZON COM INC	54,200	$11.29M	2.0%	—	—	CALL	023135106
EWY	ISHARES INC	90,000	$11.07M	2.0%	—	—	CALL	464286772
TSLA	TESLA INC	29,000	$10.78M	1.9%	—	—	PUT	88160R101
META	META PLATFORMS INC	13,250	$7.581M	1.4%	—	—	—	30303M102
BABA	ALIBABA GROUP HLDG LTD	48,600	$6.097M	1.1%	—	—	CALL	01609W102
XBI	SPDR SERIES TRUST	43,600	$5.569M	1.0%	—	—	PUT	78464A870
FORM	FORMFACTOR INC	55,400	$5.373M	1.0%	—	—	PUT	346375108
VRSN	VERISIGN INC	20,000	$4.967M	0.9%	—	—	CALL	92343E102
SE	SEA LTD	59,500	$4.927M	0.9%	—	—	CALL	81141R100
CIEN	CIENA CORP	12,300	$4.775M	0.9%	—	—	—	171779309
MU	MICRON TECHNOLOGY INC	12,000	$4.054M	0.7%	—	—	CALL	595112103
PLTR	PALANTIR TECHNOLOGIES INC	26,500	$3.876M	0.7%	—	—	—	69608A108
TIGO	MILLICOM INTL CELLULAR S A	49,200	$3.687M	0.7%	—	—	CALL	L6388F110
OXY	OCCIDENTAL PETE CORP	56,600	$3.679M	0.7%	—	—	CALL	674599105
AA	ALCOA CORP	55,200	$3.661M	0.7%	—	—	CALL	013872106
BW	BABCOCK & WILCOX ENTERPRISES	198,900	$2.922M	0.5%	—	—	—	05614L209
POET	POET TECHNOLOGIES INC	326,300	$1.938M	0.4%	—	—	—	73044W302
IOT	SAMSARA INC	54,400	$1.724M	0.3%	—	—	—	79589L106
NUAI	NEW ERA ENERGY & DIGITAL INC	406,000	$1.648M	0.3%	—	—	CALL	64428N109
CQP	CHENIERE ENERGY PARTNERS L P	16,000	$1.034M	0.2%	—	—	CALL	16411Q101
USAR	USA RARE EARTH INC	37,800	$572K	0.1%	—	—	CALL	91733P107
EOSE	EOS ENERGY ENTERPRISES INC	102,600	$509K	0.1%	—	—	CALL	29415C101
BW	BABCOCK & WILCOX ENTERPRISES	33,000	$485K	0.1%	—	—	CALL	05614L209
VG	VENTURE GLOBAL INC	24,400	$385K	0.1%	—	—	CALL	92333F101
CRCL	CIRCLE INTERNET GROUP INC	2,300	$219K	0.0%	—	—	—	172573107

Decreased Positions (9)

MU MICRON TECHNOLOGY INC 2.0%

Value $10.97M (+213.6%) Shares 9,500 (-8.2%) Est. Cost — Unrealized —

TSEM TOWER SEMICONDUCTOR LTD 0.3%

Value $1.642M (-73.1%) Shares 6,300 (-81.9%) Est. Cost — Unrealized —

GOOGL ALPHABET INC 1.9%

Value $10.45M (-29.0%) Shares 29,255 (-42.9%) Est. Cost — Unrealized —

APP APPLOVIN CORP 0.7%

Value $3.895M (-29.4%) Shares 7,560 (-45.5%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 2.1%

Value $11.84M (+15.3%) Shares 24,790 (-18.4%) Est. Cost — Unrealized —

INTC INTEL CORP 1.7%

Value $9.216M (+18.9%) Shares 66,000 (-62.4%) Est. Cost — Unrealized —

ASML ASML HLDG NV 1.5%

Value $8.356M (+8.3%) Shares 4,200 (-28.1%) Est. Cost — Unrealized —

HOOD ROBINHOOD MKTS INC 1.1%

Value $5.906M (-4.1%) Shares 58,900 (-33.7%) Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 1.0%

Value $5.522M (-3.0%) Shares 6,435 (-20.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	9,500 (-8.2%)	$10.97M (+213.6%)	2.0%	—	—	COM	595112103
TSEM	TOWER SEMICONDUCTOR LTD	6,300 (-81.9%)	$1.642M (-73.1%)	0.3%	—	—	SHS NEW	M87915274
GOOGL	ALPHABET INC	29,255 (-42.9%)	$10.45M (-29.0%)	1.9%	—	—	CAP STK CL A	02079K305
APP	APPLOVIN CORP	7,560 (-45.5%)	$3.895M (-29.4%)	0.7%	—	—	COM CL A	03831W108
TSM	TAIWAN SEMICONDUCTOR MANUFAC	24,790 (-18.4%)	$11.84M (+15.3%)	2.1%	—	—	SPONSORED ADS	874039100
INTC	INTEL CORP	66,000 (-62.4%)	$9.216M (+18.9%)	1.7%	—	—	CALL	458140100
ASML	ASML HLDG NV	4,200 (-28.1%)	$8.356M (+8.3%)	1.5%	—	—	N Y REGISTRY SHS	N07059210
HOOD	ROBINHOOD MKTS INC	58,900 (-33.7%)	$5.906M (-4.1%)	1.1%	—	—	COM CL A	770700102
LITE	LUMENTUM HLDGS INC	6,435 (-20.6%)	$5.522M (-3.0%)	1.0%	—	—	COM	55024U109

Unchanged Positions (5)

CRWD CROWDSTRIKE HLDGS INC 1.6%

Value $8.883M Shares 11,640 Est. Cost — Unrealized —

SMCI SUPER MICRO COMPUTER INC 2.7%

Value $14.96M Shares 509,900 Est. Cost — Unrealized —

OPENZ OPENDOOR TECHNOLOGIES INC 0.0%

Value $3,920 Shares 16,333 Est. Cost — Unrealized —

OPENL OPENDOOR TECHNOLOGIES INC 0.0%

Value $4,619 Shares 16,333 Est. Cost — Unrealized —

OPENW OPENDOOR TECHNOLOGIES INC 0.0%

Value $8,085 Shares 16,333 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CRWD	CROWDSTRIKE HLDGS INC	11,640	$8.883M	1.6%	—	—	CL A	22788C105
SMCI	SUPER MICRO COMPUTER INC	509,900	$14.96M	2.7%	—	—	PUT	86800U302
OPENZ	OPENDOOR TECHNOLOGIES INC	16,333	$3,920	0.0%	—	—	*W EXP 11/20/202	683712145
OPENL	OPENDOOR TECHNOLOGIES INC	16,333	$4,619	0.0%	—	—	*W EXP 11/20/202	683712137
OPENW	OPENDOOR TECHNOLOGIES INC	16,333	$8,085	0.0%	—	—	*W EXP 11/20/202	683712129