Hound Partners, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PLTR	PALANTIR TECHNOLOGIES INC	543,000	$96,518	13.0%	$181.03	0.0%	CL A	69608A108
META	META PLATFORMS INC	77,000	$50,827	6.8%	$667.32	0.0%	CL A	30303M102
PATH	UIPATH INC	1,337,900	$21,928	3.0%	—	—	CALL	90364P105
FOX	FOX CORP	305,071	$19,808	2.7%	$58.38	0.0%	CL B COM	35137L204
CALM	CAL MAINE FOODS INC	77,341	$6,154	0.8%	$86.61	0.0%	COM NEW	128030202
BELFA	BEL FUSE INC	37,640	$5,714	0.8%	$134.10	0.0%	CL A	077347201
UBER	UBER TECHNOLOGIES INC	55,157	$4,507	0.6%	$90.05	0.0%	COM	90353T100
ALH	ALLIANCE LAUNDRY HLDGS INC	85,000	$1,730	0.2%	$24.03	0.0%	COM	01862Q107
ANDG	ANDERSEN GROUP INC	60,000	$1,556	0.2%	$25.14	0.0%	CL A	033853102
NP	NEPTUNE INS HLDGS INC	50,500	$1,473	0.2%	$26.30	0.0%	CL A	64073B103
IVV	ISHARES TR	2,000	$1,370	0.2%	$684.94	—	CORE S&P500 ETF	464287200
AERO	GRUPO AEROMEXICO SAB DE CV	20,000	$439	0.1%	$21.96	—	SPONSORED ADS	40054J109

Increased Positions (2)

NCLH NORWEGIAN CRUISE LINE HLDG L 11.4%

Value ($000) $84,992 (+11.6%) Shares 3,807,887 (+23.1%) Est. Cost $23.52 Unrealized -10.2%

GLNG GOLAR LNG LTD 3.5%

Value ($000) $26,250 (-1.4%) Shares 705,460 (+7.1%) Est. Cost $34.54 Unrealized +10.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NCLH	NORWEGIAN CRUISE LINE HLDG L	3,807,887 (+23.1%)	$84,992 (+11.6%)	11.4%	$23.52	-10.2%	SHS	G66721104
GLNG	GOLAR LNG LTD	705,460 (+7.1%)	$26,250 (-1.4%)	3.5%	$34.54	+10.3%	SHS	G9456A100

Exited Positions (5)

GS GOLDMAN SACHS GROUP INC 12.4%

Value ($000) $92,377 Shares 116,000 Est. Cost $622.36 Unrealized +30.7%

EXPE EXPEDIA GROUP INC 6.5%

Value ($000) $48,388 Shares 226,375 Est. Cost $180.81 Unrealized +36.5%

— LIBERTY MEDIA CORP DEL 1.9%

Value ($000) $13,966 Shares 144,022 Est. Cost $74.07 Unrealized —

HCA HCA HEALTHCARE INC 1.0%

Value ($000) $7,785 Shares 18,265 Est. Cost $297.24 Unrealized +56.0%

RPD RAPID7 INC 0.4%

Value ($000) $2,905 Shares 154,920 Est. Cost $40.06 Unrealized -58.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GS	GOLDMAN SACHS GROUP INC	116,000	$92,377	12.4%	$622.36	+30.7%	—	38141G104
EXPE	EXPEDIA GROUP INC	226,375	$48,388	6.5%	$180.81	+36.5%	—	30212P303
—	LIBERTY MEDIA CORP DEL	144,022	$13,966	1.9%	$74.07	—	—	531229722
HCA	HCA HEALTHCARE INC	18,265	$7,785	1.0%	$297.24	+56.0%	—	40412C101
RPD	RAPID7 INC	154,920	$2,905	0.4%	$40.06	-58.9%	—	753422104

Decreased Positions (14)

BIO BIO RAD LABS INC 1.8%

Value ($000) $13,110 (-55.0%) Shares 43,268 (-58.4%) Est. Cost $335.20 Unrealized -6.9%

GIII G III APPAREL GROUP LTD 0.4%

Value ($000) $3,244 (-74.5%) Shares 112,004 (-76.6%) Est. Cost $25.24 Unrealized +12.9%

WDAY WORKDAY INC 0.9%

Value ($000) $6,998 (-53.4%) Shares 32,584 (-47.8%) Est. Cost $238.45 Unrealized -4.7%

DG DOLLAR GEN CORP NEW 0.8%

Value ($000) $6,270 (-50.1%) Shares 47,228 (-61.1%) Est. Cost $105.39 Unrealized +5.8%

FISV FISERV INC 0.6%

Value ($000) $4,400 (-56.9%) Shares 65,509 (-17.2%) Est. Cost $159.35 Unrealized -47.4%

ENTG ENTEGRIS INC 1.8%

Value ($000) $13,434 (-27.4%) Shares 159,450 (-20.4%) Est. Cost $100.39 Unrealized -13.6%

ARW ARROW ELECTRS INC 2.0%

Value ($000) $14,951 (-24.6%) Shares 135,695 (-17.2%) Est. Cost $120.55 Unrealized -5.8%

MTN VAIL RESORTS INC 1.1%

Value ($000) $7,892 (-29.9%) Shares 59,430 (-21.1%) Est. Cost $182.09 Unrealized -19.2%

MHK MOHAWK INDS INC 0.9%

Value ($000) $6,463 (-29.8%) Shares 59,131 (-17.2%) Est. Cost $123.78 Unrealized -7.2%

AMZN AMAZON COM INC 1.4%

Value ($000) $10,488 (-13.0%) Shares 45,436 (-17.2%) Est. Cost $183.00 Unrealized +25.0%

MSFT MICROSOFT CORP 2.2%

Value ($000) $16,610 (-8.1%) Shares 34,345 (-1.6%) Est. Cost $316.44 Unrealized +58.2%

CCL CARNIVAL CORP 14.5%

Value ($000) $107,778 (+1.1%) Shares 3,529,067 (-4.3%) Est. Cost $24.13 Unrealized +15.6%

ENSG ENSIGN GROUP INC 1.5%

Value ($000) $11,371 (-5.7%) Shares 65,273 (-6.5%) Est. Cost $159.32 Unrealized +12.7%

KEX KIRBY CORP 1.5%

Value ($000) $10,992 (-0.8%) Shares 99,767 (-24.9%) Est. Cost $100.46 Unrealized +1.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BIO	BIO RAD LABS INC	43,268 (-58.4%)	$13,110 (-55.0%)	1.8%	$335.20	-6.9%	CL A	090572207
GIII	G III APPAREL GROUP LTD	112,004 (-76.6%)	$3,244 (-74.5%)	0.4%	$25.24	+12.9%	COM	36237H101
WDAY	WORKDAY INC	32,584 (-47.8%)	$6,998 (-53.4%)	0.9%	$238.45	-4.7%	CL A	98138H101
DG	DOLLAR GEN CORP NEW	47,228 (-61.1%)	$6,270 (-50.1%)	0.8%	$105.39	+5.8%	COM	256677105
FISV	FISERV INC	65,509 (-17.2%)	$4,400 (-56.9%)	0.6%	$159.35	-47.4%	COM	337738108
ENTG	ENTEGRIS INC	159,450 (-20.4%)	$13,434 (-27.4%)	1.8%	$100.39	-13.6%	COM	29362U104
ARW	ARROW ELECTRS INC	135,695 (-17.2%)	$14,951 (-24.6%)	2.0%	$120.55	-5.8%	COM	042735100
MTN	VAIL RESORTS INC	59,430 (-21.1%)	$7,892 (-29.9%)	1.1%	$182.09	-19.2%	COM	91879Q109
MHK	MOHAWK INDS INC	59,131 (-17.2%)	$6,463 (-29.8%)	0.9%	$123.78	-7.2%	COM	608190104
AMZN	AMAZON COM INC	45,436 (-17.2%)	$10,488 (-13.0%)	1.4%	$183.00	+25.0%	COM	023135106
MSFT	MICROSOFT CORP	34,345 (-1.6%)	$16,610 (-8.1%)	2.2%	$316.44	+58.2%	COM	594918104
CCL	CARNIVAL CORP	3,529,067 (-4.3%)	$107,778 (+1.1%)	14.5%	$24.13	+15.6%	UNIT 99/99/9999	143658300
ENSG	ENSIGN GROUP INC	65,273 (-6.5%)	$11,371 (-5.7%)	1.5%	$159.32	+12.7%	COM	29358P101
KEX	KIRBY CORP	99,767 (-24.9%)	$10,992 (-0.8%)	1.5%	$100.46	+1.2%	COM	497266106

Unchanged Positions (9)

SE SEA LTD 8.6%

Value ($000) $63,785 Shares 500,000 Est. Cost $159.94 Unrealized —

NTSK NETSKOPE INC 0.5%

Value ($000) $3,622 Shares 206,500 Est. Cost $23.79 Unrealized -12.3%

ONON ON HLDG AG 1.6%

Value ($000) $11,620 Shares 250,000 Est. Cost $50.96 Unrealized -15.4%

SBET SHARPLINK GAMING INC 0.1%

Value ($000) $1,070 Shares 119,684 Est. Cost $19.64 Unrealized -37.8%

ICLR ICON PLC 1.8%

Value ($000) $13,667 Shares 75,000 Est. Cost $141.84 Unrealized +25.6%

WBI WATERBRIDGE INFRASTRUCTURE L 0.3%

Value ($000) $2,001 Shares 100,000 Est. Cost $23.45 Unrealized -1.0%

NVDA NVIDIA CORPORATION 11.9%

Value ($000) $88,509 Shares 474,577 Est. Cost $126.26 Unrealized +47.4%

MIAX MIAMI INTL HLDGS INC 0.1%

Value ($000) $1,110 Shares 25,000 Est. Cost $36.58 Unrealized +21.9%

AMBQ AMBIQ MICRO INC 0.1%

Value ($000) $570 Shares 20,000 Est. Cost $36.46 Unrealized -21.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SE	SEA LTD	500,000	$63,785	8.6%	$159.94	—	SPONSORD ADS	81141R100
NTSK	NETSKOPE INC	206,500	$3,622	0.5%	$23.79	-12.3%	CL A	64119N608
ONON	ON HLDG AG	250,000	$11,620	1.6%	$50.96	-15.4%	NAMEN AKT A	H5919C104
SBET	SHARPLINK GAMING INC	119,684	$1,070	0.1%	$19.64	-37.8%	COM NEW	820014405
ICLR	ICON PLC	75,000	$13,667	1.8%	$141.84	+25.6%	SHS	G4705A100
WBI	WATERBRIDGE INFRASTRUCTURE L	100,000	$2,001	0.3%	$23.45	-1.0%	CL A SHS REPSTG	940923105
NVDA	NVIDIA CORPORATION	474,577	$88,509	11.9%	$126.26	+47.4%	COM	67066G104
MIAX	MIAMI INTL HLDGS INC	25,000	$1,110	0.1%	$36.58	+21.9%	COM	59356Q108
AMBQ	AMBIQ MICRO INC	20,000	$570	0.1%	$36.46	-21.4%	COMMON STOCK	023193105