Nicholas Investment Partners, LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SHOO	MADDEN STEVEN LTD	422,075	$17,575	1.3%	$38.43	0.0%	COM	556269108
ANF	ABERCROMBIE & FITCH CO	130,197	$16,388	1.2%	$87.43	0.0%	CL A	002896207
CENX	CENTURY ALUM CO	290,960	$11,400	0.8%	$31.24	0.0%	COM	156431108
APGE	APOGEE THERAPEUTICS INC	112,924	$8,524	0.6%	$62.99	0.0%	COM	03770N101
—	REPLIGEN CORP	7,050,000	$7,702	0.6%	$1.09	—	NOTE 1.000%12/1	759916AD1
VERA	VERA THERAPEUTICS INC	144,810	$7,333	0.5%	$35.52	0.0%	CL A	92337R101
SITM	SITIME CORP	20,178	$7,127	0.5%	$312.93	0.0%	COM	82982T106
TERN	TERNS PHARMACEUTICALS INC	165,781	$6,698	0.5%	$23.11	0.0%	COM	880881107
IDYA	IDEAYA BIOSCIENCES INC	192,413	$6,652	0.5%	$31.88	0.0%	COM	45166A102
—	AFFIRM HLDGS INC	5,100,000	$5,643	0.4%	$1.11	—	NOTE 0.750%12/1	00827BAD8
IWO	ISHARES TR	17,261	$5,575	0.4%	$323.01	—	RUS 2000 GRW ETF	464287648
—	WINNEBAGO INDS INC	5,900,000	$5,531	0.4%	$0.94	—	NOTE 3.250% 1/1	974637AF7
COGT	COGENT BIOSCIENCES INC	151,066	$5,366	0.4%	$28.11	0.0%	COM	19240Q201
PATK	PATRICK INDS INC	47,965	$5,201	0.4%	$104.64	0.0%	COM	703343103
RCUS	ARCUS BIOSCIENCES INC	204,338	$4,869	0.4%	$20.40	0.0%	COM	03969F109
ORA	ORMAT TECHNOLOGIES INC	43,767	$4,835	0.4%	$109.32	0.0%	COM	686688102
SMTC	SEMTECH CORP	64,399	$4,746	0.3%	$70.95	0.0%	COM	816850101
CWK	CUSHMAN AND WAKEFIELD LTD	286,254	$4,634	0.3%	$15.85	0.0%	COMMON SHARES	G2717C106
ONTO	ONTO INNOVATION INC	24,095	$3,804	0.3%	$142.02	0.0%	COM	683344105
RYTM	RHYTHM PHARMACEUTICALS INC	34,710	$3,715	0.3%	$106.08	0.0%	COM	76243J105
SANM	SANMINA CORPORATION	24,286	$3,645	0.3%	$147.61	0.0%	COM	801056102
JBTM	JBT MAREL CORPORATION	23,842	$3,592	0.3%	$140.93	0.0%	COM	477839104
GTLS	CHART INDS INC	17,276	$3,563	0.3%	$202.64	0.0%	COM	16115Q308
QXO	QXO INC	130,897	$2,525	0.2%	$19.16	0.0%	COM NEW	82846H405
WULF	TERAWULF INC	217,667	$2,501	0.2%	$13.40	0.0%	COM	88080T104
VIAV	VIAVI SOLUTIONS INC	124,276	$2,215	0.2%	$16.15	0.0%	COM	925550105
VRDN	VIRIDIAN THERAPEUTICS INC	67,082	$2,088	0.2%	$27.43	0.0%	COM	92790C104
FULC	FULCRUM THERAPEUTICS INC	182,961	$2,069	0.2%	$10.18	0.0%	COM	359616109
GHM	GRAHAM CORP	29,388	$1,888	0.1%	$60.36	0.0%	COM	384556106
OLMA	OLEMA PHARMACEUTICALS INC	64,757	$1,619	0.1%	$17.79	0.0%	COM	68062P106
—	CENTRUS ENERGY CORP	540,000	$1,447	0.1%	$2.68	—	NOTE 2.250%11/0	15643UAE4
GAP	GAP INC	56,207	$1,439	0.1%	$24.07	0.0%	COM	364760108
NMRK	NEWMARK GROUP INC	70,232	$1,218	0.1%	$17.50	0.0%	CL A	65158N102
ROST	ROSS STORES INC	4,291	$773	0.1%	$166.60	0.0%	COM	778296103
DKS	DICKS SPORTING GOODS INC	3,082	$610	0.0%	$217.13	0.0%	COM	253393102
JLL	JONES LANG LASALLE INC	1,596	$537	0.0%	$313.44	0.0%	COM	48020Q107
—	CIDARA THERAPEUTICS INC	2,375	$525	0.0%	$220.89	—	COM NEW	171757206
AMD	ADVANCED MICRO DEVICES INC	1,923	$412	0.0%	$224.60	0.0%	COM	007903107
TEM	TEMPUS AI INC	6,459	$381	0.0%	$78.23	0.0%	CL A	88023B103
SARO	STANDARDAERO INC	6,987	$200	0.0%	$27.23	0.0%	COM	85423L103

Increased Positions (65)

RVMD REVOLUTION MEDICINES INC 1.8%

Value ($000) $25,306 (+102.3%) Shares 317,711 (+18.6%) Est. Cost $43.50 Unrealized +50.7%

AXSM AXSOME THERAPEUTICS INC 1.2%

Value ($000) $16,723 (+183.0%) Shares 91,564 (+88.2%) Est. Cost $123.02 Unrealized +13.5%

WING WINGSTOP INC 1.0%

Value ($000) $13,998 (+278.9%) Shares 58,694 (+299.9%) Est. Cost $259.75 Unrealized -4.6%

ABVX ABIVAX SA 0.8%

Value ($000) $11,202 (+579.1%) Shares 83,068 (+327.6%) Est. Cost $123.17 Unrealized —

LC LENDINGCLUB CORP 1.0%

Value ($000) $13,432 (+205.1%) Shares 709,206 (+144.7%) Est. Cost $16.65 Unrealized +6.1%

BBIO BRIDGEBIO PHARMA INC 1.6%

Value ($000) $21,775 (+54.3%) Shares 284,682 (+4.8%) Est. Cost $39.58 Unrealized +65.9%

TFII TFI INTL INC 0.6%

Value ($000) $8,887 (+227.4%) Shares 85,989 (+178.9%) Est. Cost $90.03 Unrealized +3.4%

XENE XENON PHARMACEUTICALS INC 0.8%

Value ($000) $10,891 (+127.8%) Shares 242,989 (+104.0%) Est. Cost $39.57 Unrealized +6.1%

MTSI MACOM TECH SOLUTIONS HLDGS I 0.8%

Value ($000) $11,168 (+102.1%) Shares 65,203 (+46.9%) Est. Cost $130.52 Unrealized +21.6%

NUVL NUVALENT INC 1.2%

Value ($000) $16,143 (+50.3%) Shares 160,483 (+29.2%) Est. Cost $73.20 Unrealized +34.7%

SPHR SPHERE ENTERTAINMENT CO 0.8%

Value ($000) $10,401 (+106.1%) Shares 109,395 (+34.6%) Est. Cost $54.66 Unrealized +39.4%

GH GUARDANT HEALTH INC 0.7%

Value ($000) $10,032 (+91.4%) Shares 98,216 (+17.1%) Est. Cost $49.89 Unrealized +79.3%

RKLB ROCKET LAB CORP 0.9%

Value ($000) $12,889 (+52.8%) Shares 184,761 (+5.0%) Est. Cost $26.97 Unrealized +112.5%

PL PLANET LABS PBC 0.6%

Value ($000) $8,299 (+60.2%) Shares 420,841 (+5.4%) Est. Cost $5.18 Unrealized +176.7%

FN FABRINET 0.9%

Value ($000) $12,598 (+32.7%) Shares 27,671 (+6.2%) Est. Cost $260.81 Unrealized +66.8%

EMBJ EMBRAER S.A. 2.0%

Value ($000) $27,613 (+11.0%) Shares 428,972 (+4.2%) Est. Cost $31.87 Unrealized —

RMBS RAMBUS INC DEL 0.3%

Value ($000) $4,393 (+153.5%) Shares 47,803 (+187.5%) Est. Cost $90.99 Unrealized +8.2%

RL RALPH LAUREN CORP 0.3%

Value ($000) $3,529 (+281.4%) Shares 9,981 (+238.2%) Est. Cost $287.89 Unrealized +18.1%

WMB WILLIAMS COS INC 0.5%

Value ($000) $7,398 (+53.3%) Shares 123,075 (+61.5%) Est. Cost $52.67 Unrealized +14.0%

FTAI FTAI AVIATION LTD 0.9%

Value ($000) $12,170 (+25.5%) Shares 61,822 (+6.4%) Est. Cost $90.65 Unrealized +87.8%

NAMS NEWAMSTERDAM PHARMA COMPANY 0.5%

Value ($000) $7,487 (+48.3%) Shares 213,419 (+20.2%) Est. Cost $22.95 Unrealized +58.6%

ROIV ROIVANT SCIENCES LTD 0.4%

Value ($000) $6,073 (+63.4%) Shares 279,856 (+13.9%) Est. Cost $13.28 Unrealized +48.6%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.8%

Value ($000) $11,448 (+24.5%) Shares 37,672 (+14.5%) Est. Cost $164.99 Unrealized —

GOOG ALPHABET INC 0.5%

Value ($000) $7,544 (+34.3%) Shares 24,041 (+4.2%) Est. Cost $130.78 Unrealized +118.9%

AMZN AMAZON COM INC 1.2%

Value ($000) $16,002 (+13.4%) Shares 69,325 (+7.9%) Est. Cost $150.12 Unrealized +52.4%

UTHR UNITED THERAPEUTICS CORP DEL 0.2%

Value ($000) $2,218 (+572.4%) Shares 4,553 (+478.5%) Est. Cost $443.33 Unrealized +5.0%

— NEXTERA ENERGY CAP HLDGS INC 0.8%

Value ($000) $10,542 (+21.5%) Shares 8,495,000 (+15.7%) Est. Cost $1.17 Unrealized —

WTFC WINTRUST FINL CORP 1.2%

Value ($000) $16,441 (+12.2%) Shares 117,590 (+6.2%) Est. Cost $97.16 Unrealized +36.9%

WYNN WYNN RESORTS LTD 0.2%

Value ($000) $2,442 (+264.6%) Shares 20,297 (+288.6%) Est. Cost $121.37 Unrealized +1.8%

MIR MIRION TECHNOLOGIES INC 1.1%

Value ($000) $15,028 (+10.4%) Shares 641,660 (+9.6%) Est. Cost $14.99 Unrealized +66.4%

KYMR KYMERA THERAPEUTICS INC 0.3%

Value ($000) $4,341 (+45.7%) Shares 55,788 (+6.0%) Est. Cost $46.37 Unrealized +45.6%

RKT ROCKET COS INC 0.3%

Value ($000) $4,412 (+36.9%) Shares 227,872 (+37.0%) Est. Cost $15.64 Unrealized +14.3%

— ON SEMICONDUCTOR CORP 0.3%

Value ($000) $4,702 (+33.3%) Shares 3,950,000 (+27.4%) Est. Cost $1.17 Unrealized —

APPF APPFOLIO INC 0.7%

Value ($000) $9,211 (-10.4%) Shares 39,591 (+6.2%) Est. Cost $179.23 Unrealized +32.6%

CYTK CYTOKINETICS INC 0.3%

Value ($000) $4,463 (+30.7%) Shares 70,240 (+13.1%) Est. Cost $43.63 Unrealized +42.6%

OSIS OSI SYSTEMS INC 0.9%

Value ($000) $12,401 (+8.9%) Shares 48,619 (+6.4%) Est. Cost $153.11 Unrealized +70.6%

SPOT SPOTIFY TECHNOLOGY S A 0.4%

Value ($000) $5,410 (-13.9%) Shares 9,316 (+3.5%) Est. Cost $431.13 Unrealized +45.0%

KLAC KLA CORP 0.4%

Value ($000) $5,055 (+17.9%) Shares 4,160 (+4.7%) Est. Cost $510.82 Unrealized +129.4%

LSCC LATTICE SEMICONDUCTOR CORP 0.8%

Value ($000) $11,138 (+6.6%) Shares 151,372 (+6.3%) Est. Cost $52.64 Unrealized —

LRCX LAM RESEARCH CORP 0.1%

Value ($000) $1,976 (+46.1%) Shares 11,544 (+14.3%) Est. Cost $85.01 Unrealized +82.8%

POWL POWELL INDS INC 0.4%

Value ($000) $5,899 (+10.8%) Shares 18,506 (+6.0%) Est. Cost $258.57 Unrealized +30.2%

SBCF SEACOAST BKG CORP FLA 0.5%

Value ($000) $6,480 (+9.5%) Shares 206,247 (+6.0%) Est. Cost $26.01 Unrealized +19.8%

NVMI NOVA LTD 0.5%

Value ($000) $6,508 (+9.3%) Shares 19,818 (+6.4%) Est. Cost $219.46 Unrealized +46.5%

BE BLOOM ENERGY CORP 0.7%

Value ($000) $9,742 (+5.7%) Shares 112,116 (+2.9%) Est. Cost $48.10 Unrealized +118.4%

ASML ASML HOLDING N V 0.1%

Value ($000) $2,009 (+35.6%) Shares 1,878 (+22.7%) Est. Cost $675.31 Unrealized —

ASND ASCENDIS PHARMA A/S 0.1%

Value ($000) $1,336 (+55.9%) Shares 6,265 (+45.4%) Est. Cost $192.28 Unrealized —

NFLX NETFLIX INC 0.0%

Value ($000) $622 (-38.7%) Shares 6,636 (+683.5%) Est. Cost $107.33 Unrealized +0.5%

SKT TANGER INC 1.1%

Value ($000) $15,039 (+2.5%) Shares 450,672 (+3.9%) Est. Cost $25.73 Unrealized —

AFRM AFFIRM HLDGS INC 0.0%

Value ($000) $632 (+132.1%) Shares 8,495 (+127.9%) Est. Cost $73.78 Unrealized -2.5%

UEC URANIUM ENERGY CORP 0.4%

Value ($000) $5,049 (-6.6%) Shares 432,292 (+6.6%) Est. Cost $6.20 Unrealized +111.5%

CR CRANE COMPANY 0.4%

Value ($000) $5,717 (+6.4%) Shares 30,997 (+6.2%) Est. Cost $88.21 Unrealized +110.1%

ODFL OLD DOMINION FREIGHT LINE IN 0.1%

Value ($000) $1,033 (+47.7%) Shares 6,589 (+32.6%) Est. Cost $166.04 Unrealized -13.8%

SHOP SHOPIFY INC 0.1%

Value ($000) $1,735 (+22.0%) Shares 10,781 (+12.7%) Est. Cost $65.87 Unrealized +143.8%

JOBY JOBY AVIATION INC 0.4%

Value ($000) $4,912 (-5.5%) Shares 372,129 (+15.5%) Est. Cost $15.21 Unrealized +0.9%

ZETA ZETA GLOBAL HOLDINGS CORP 0.3%

Value ($000) $4,576 (+6.5%) Shares 224,867 (+4.0%) Est. Cost $14.85 Unrealized +25.8%

PARR PAR PAC HOLDINGS INC 0.9%

Value ($000) $11,721 (+2.1%) Shares 333,538 (+2.9%) Est. Cost $20.36 Unrealized +95.2%

TXRH TEXAS ROADHOUSE INC 0.1%

Value ($000) $868 (+35.9%) Shares 5,227 (+36.0%) Est. Cost $166.73 Unrealized +1.2%

CRDO CREDO TECHNOLOGY GROUP HOLDI 0.7%

Value ($000) $9,454 (+2.5%) Shares 65,706 (+3.7%) Est. Cost $96.83 Unrealized +58.8%

SNPS SYNOPSYS INC 0.4%

Value ($000) $5,564 (-3.5%) Shares 11,845 (+1.3%) Est. Cost $269.67 Unrealized +64.7%

PIPR PIPER SANDLER COMPANIES 1.2%

Value ($000) $15,934 (+1.2%) Shares 46,905 (+3.4%) Est. Cost $272.77 Unrealized +23.9%

MRVL MARVELL TECHNOLOGY INC 0.0%

Value ($000) $403 (+58.3%) Shares 4,748 (+56.6%) Est. Cost $78.54 Unrealized +11.4%

DRI DARDEN RESTAURANTS INC 0.1%

Value ($000) $748 (+23.7%) Shares 4,067 (+28.0%) Est. Cost $188.85 Unrealized -3.6%

SAIA SAIA INC 0.1%

Value ($000) $724 (+21.3%) Shares 2,218 (+11.2%) Est. Cost $286.70 Unrealized +5.4%

MOD MODINE MFG CO 0.7%

Value ($000) $9,353 (-0.6%) Shares 70,057 (+5.9%) Est. Cost $128.44 Unrealized +16.0%

SNOW SNOWFLAKE INC 0.3%

Value ($000) $4,442 (-1.1%) Shares 20,249 (+1.7%) Est. Cost $171.71 Unrealized +42.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RVMD	REVOLUTION MEDICINES INC	317,711 (+18.6%)	$25,306 (+102.3%)	1.8%	$43.50	+50.7%	COM	76155X100
AXSM	AXSOME THERAPEUTICS INC	91,564 (+88.2%)	$16,723 (+183.0%)	1.2%	$123.02	+13.5%	COM	05464T104
WING	WINGSTOP INC	58,694 (+299.9%)	$13,998 (+278.9%)	1.0%	$259.75	-4.6%	COM	974155103
ABVX	ABIVAX SA	83,068 (+327.6%)	$11,202 (+579.1%)	0.8%	$123.17	—	SPONSORED ADS	00370M103
LC	LENDINGCLUB CORP	709,206 (+144.7%)	$13,432 (+205.1%)	1.0%	$16.65	+6.1%	COM NEW	52603A208
BBIO	BRIDGEBIO PHARMA INC	284,682 (+4.8%)	$21,775 (+54.3%)	1.6%	$39.58	+65.9%	COM	10806X102
TFII	TFI INTL INC	85,989 (+178.9%)	$8,887 (+227.4%)	0.6%	$90.03	+3.4%	COM	87241L109
XENE	XENON PHARMACEUTICALS INC	242,989 (+104.0%)	$10,891 (+127.8%)	0.8%	$39.57	+6.1%	COM	98420N105
MTSI	MACOM TECH SOLUTIONS HLDGS I	65,203 (+46.9%)	$11,168 (+102.1%)	0.8%	$130.52	+21.6%	COM	55405Y100
NUVL	NUVALENT INC	160,483 (+29.2%)	$16,143 (+50.3%)	1.2%	$73.20	+34.7%	COM	670703107
SPHR	SPHERE ENTERTAINMENT CO	109,395 (+34.6%)	$10,401 (+106.1%)	0.8%	$54.66	+39.4%	CL A	55826T102
GH	GUARDANT HEALTH INC	98,216 (+17.1%)	$10,032 (+91.4%)	0.7%	$49.89	+79.3%	COM	40131M109
RKLB	ROCKET LAB CORP	184,761 (+5.0%)	$12,889 (+52.8%)	0.9%	$26.97	+112.5%	COM	773121108
PL	PLANET LABS PBC	420,841 (+5.4%)	$8,299 (+60.2%)	0.6%	$5.18	+176.7%	COM CL A	72703X106
FN	FABRINET	27,671 (+6.2%)	$12,598 (+32.7%)	0.9%	$260.81	+66.8%	SHS	G3323L100
EMBJ	EMBRAER S.A.	428,972 (+4.2%)	$27,613 (+11.0%)	2.0%	$31.87	—	SPONSORED ADS	29082A107
RMBS	RAMBUS INC DEL	47,803 (+187.5%)	$4,393 (+153.5%)	0.3%	$90.99	+8.2%	COM	750917106
RL	RALPH LAUREN CORP	9,981 (+238.2%)	$3,529 (+281.4%)	0.3%	$287.89	+18.1%	CL A	751212101
WMB	WILLIAMS COS INC	123,075 (+61.5%)	$7,398 (+53.3%)	0.5%	$52.67	+14.0%	COM	969457100
FTAI	FTAI AVIATION LTD	61,822 (+6.4%)	$12,170 (+25.5%)	0.9%	$90.65	+87.8%	SHS	G3730V105
NAMS	NEWAMSTERDAM PHARMA COMPANY	213,419 (+20.2%)	$7,487 (+48.3%)	0.5%	$22.95	+58.6%	ORDINARY SHARES	N62509109
ROIV	ROIVANT SCIENCES LTD	279,856 (+13.9%)	$6,073 (+63.4%)	0.4%	$13.28	+48.6%	SHS	G76279101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	37,672 (+14.5%)	$11,448 (+24.5%)	0.8%	$164.99	—	SPONSORED ADS	874039100
GOOG	ALPHABET INC	24,041 (+4.2%)	$7,544 (+34.3%)	0.5%	$130.78	+118.9%	CAP STK CL C	02079K107
AMZN	AMAZON COM INC	69,325 (+7.9%)	$16,002 (+13.4%)	1.2%	$150.12	+52.4%	COM	023135106
UTHR	UNITED THERAPEUTICS CORP DEL	4,553 (+478.5%)	$2,218 (+572.4%)	0.2%	$443.33	+5.0%	COM	91307C102
—	NEXTERA ENERGY CAP HLDGS INC	8,495,000 (+15.7%)	$10,542 (+21.5%)	0.8%	$1.17	—	NOTE 3.000% 3/0	65339KCY4
WTFC	WINTRUST FINL CORP	117,590 (+6.2%)	$16,441 (+12.2%)	1.2%	$97.16	+36.9%	COM	97650W108
WYNN	WYNN RESORTS LTD	20,297 (+288.6%)	$2,442 (+264.6%)	0.2%	$121.37	+1.8%	COM	983134107
MIR	MIRION TECHNOLOGIES INC	641,660 (+9.6%)	$15,028 (+10.4%)	1.1%	$14.99	+66.4%	COM CL A	60471A101
KYMR	KYMERA THERAPEUTICS INC	55,788 (+6.0%)	$4,341 (+45.7%)	0.3%	$46.37	+45.6%	COM	501575104
RKT	ROCKET COS INC	227,872 (+37.0%)	$4,412 (+36.9%)	0.3%	$15.64	+14.3%	COM CL A	77311W101
—	ON SEMICONDUCTOR CORP	3,950,000 (+27.4%)	$4,702 (+33.3%)	0.3%	$1.17	—	NOTE 5/0	682189AS4
APPF	APPFOLIO INC	39,591 (+6.2%)	$9,211 (-10.4%)	0.7%	$179.23	+32.6%	COM CL A	03783C100
CYTK	CYTOKINETICS INC	70,240 (+13.1%)	$4,463 (+30.7%)	0.3%	$43.63	+42.6%	COM NEW	23282W605
OSIS	OSI SYSTEMS INC	48,619 (+6.4%)	$12,401 (+8.9%)	0.9%	$153.11	+70.6%	COM	671044105
SPOT	SPOTIFY TECHNOLOGY S A	9,316 (+3.5%)	$5,410 (-13.9%)	0.4%	$431.13	+45.0%	SHS	L8681T102
KLAC	KLA CORP	4,160 (+4.7%)	$5,055 (+17.9%)	0.4%	$510.82	+129.4%	COM NEW	482480100
LSCC	LATTICE SEMICONDUCTOR CORP	151,372 (+6.3%)	$11,138 (+6.6%)	0.8%	$52.64	—	COM	518415104
LRCX	LAM RESEARCH CORP	11,544 (+14.3%)	$1,976 (+46.1%)	0.1%	$85.01	+82.8%	COM NEW	512807306
POWL	POWELL INDS INC	18,506 (+6.0%)	$5,899 (+10.8%)	0.4%	$258.57	+30.2%	COM	739128106
SBCF	SEACOAST BKG CORP FLA	206,247 (+6.0%)	$6,480 (+9.5%)	0.5%	$26.01	+19.8%	COM NEW	811707801
NVMI	NOVA LTD	19,818 (+6.4%)	$6,508 (+9.3%)	0.5%	$219.46	+46.5%	COM	M7516K103
BE	BLOOM ENERGY CORP	112,116 (+2.9%)	$9,742 (+5.7%)	0.7%	$48.10	+118.4%	COM CL A	093712107
ASML	ASML HOLDING N V	1,878 (+22.7%)	$2,009 (+35.6%)	0.1%	$675.31	—	N Y REGISTRY SHS	N07059210
ASND	ASCENDIS PHARMA A/S	6,265 (+45.4%)	$1,336 (+55.9%)	0.1%	$192.28	—	SPONSORED ADR	04351P101
NFLX	NETFLIX INC	6,636 (+683.5%)	$622 (-38.7%)	0.0%	$107.33	+0.5%	COM	64110L106
SKT	TANGER INC	450,672 (+3.9%)	$15,039 (+2.5%)	1.1%	$25.73	—	COM	875465106
AFRM	AFFIRM HLDGS INC	8,495 (+127.9%)	$632 (+132.1%)	0.0%	$73.78	-2.5%	COM CL A	00827B106
UEC	URANIUM ENERGY CORP	432,292 (+6.6%)	$5,049 (-6.6%)	0.4%	$6.20	+111.5%	COM	916896103
CR	CRANE COMPANY	30,997 (+6.2%)	$5,717 (+6.4%)	0.4%	$88.21	+110.1%	COMMON STOCK	224408104
ODFL	OLD DOMINION FREIGHT LINE IN	6,589 (+32.6%)	$1,033 (+47.7%)	0.1%	$166.04	-13.8%	COM	679580100
SHOP	SHOPIFY INC	10,781 (+12.7%)	$1,735 (+22.0%)	0.1%	$65.87	+143.8%	CL A SUB VTG SHS	82509L107
JOBY	JOBY AVIATION INC	372,129 (+15.5%)	$4,912 (-5.5%)	0.4%	$15.21	+0.9%	COMMON STOCK	G65163100
ZETA	ZETA GLOBAL HOLDINGS CORP	224,867 (+4.0%)	$4,576 (+6.5%)	0.3%	$14.85	+25.8%	CL A	98956A105
PARR	PAR PAC HOLDINGS INC	333,538 (+2.9%)	$11,721 (+2.1%)	0.9%	$20.36	+95.2%	COM NEW	69888T207
TXRH	TEXAS ROADHOUSE INC	5,227 (+36.0%)	$868 (+35.9%)	0.1%	$166.73	+1.2%	COM	882681109
CRDO	CREDO TECHNOLOGY GROUP HOLDI	65,706 (+3.7%)	$9,454 (+2.5%)	0.7%	$96.83	+58.8%	ORDINARY SHARES	G25457105
SNPS	SYNOPSYS INC	11,845 (+1.3%)	$5,564 (-3.5%)	0.4%	$269.67	+64.7%	COM	871607107
PIPR	PIPER SANDLER COMPANIES	46,905 (+3.4%)	$15,934 (+1.2%)	1.2%	$272.77	+23.9%	COM	724078100
MRVL	MARVELL TECHNOLOGY INC	4,748 (+56.6%)	$403 (+58.3%)	0.0%	$78.54	+11.4%	COM	573874104
DRI	DARDEN RESTAURANTS INC	4,067 (+28.0%)	$748 (+23.7%)	0.1%	$188.85	-3.6%	COM	237194105
SAIA	SAIA INC	2,218 (+11.2%)	$724 (+21.3%)	0.1%	$286.70	+5.4%	COM	78709Y105
MOD	MODINE MFG CO	70,057 (+5.9%)	$9,353 (-0.6%)	0.7%	$128.44	+16.0%	COM	607828100
SNOW	SNOWFLAKE INC	20,249 (+1.7%)	$4,442 (-1.1%)	0.3%	$171.71	+42.2%	COM SHS	833445109

Exited Positions (46)

— MR COOPER GROUP INC 0.6%

Value ($000) $8,786 Shares 41,680 Est. Cost $161.08 Unrealized —

MC MOELIS & CO 0.6%

Value ($000) $8,495 Shares 119,117 Est. Cost $69.25 Unrealized -5.0%

METC RAMACO RES INC 0.6%

Value ($000) $8,075 Shares 243,295 Est. Cost $11.93 Unrealized +120.3%

CVLT COMMVAULT SYS INC 0.5%

Value ($000) $7,236 Shares 38,329 Est. Cost $171.14 Unrealized -17.8%

AXON AXON ENTERPRISE INC 0.5%

Value ($000) $7,024 Shares 9,788 Est. Cost $492.57 Unrealized +26.0%

VRNS VARONIS SYS INC 0.4%

Value ($000) $6,168 Shares 107,322 Est. Cost $55.48 Unrealized -24.3%

GTES GATES INDL CORP PLC 0.4%

Value ($000) $6,015 Shares 242,353 Est. Cost $24.84 Unrealized -7.1%

CLH CLEAN HARBORS INC 0.4%

Value ($000) $5,887 Shares 25,353 Est. Cost $137.42 Unrealized +66.3%

— MERUS N V 0.4%

Value ($000) $5,796 Shares 61,558 Est. Cost $94.15 Unrealized —

— CLOUDFLARE INC 0.4%

Value ($000) $5,263 Shares 4,225,000 Est. Cost $0.97 Unrealized —

WIX WIX COM LTD 0.4%

Value ($000) $4,935 Shares 27,783 Est. Cost $111.38 Unrealized +8.6%

FLS FLOWSERVE CORP 0.4%

Value ($000) $4,921 Shares 92,602 Est. Cost $53.92 Unrealized +18.8%

— LIVE NATION ENTERTAINMENT IN 0.4%

Value ($000) $4,839 Shares 3,000,000 Est. Cost $1.54 Unrealized —

ACLX ARCELLX INC 0.4%

Value ($000) $4,835 Shares 58,894 Est. Cost $65.20 Unrealized +22.4%

HROW HARROW INC 0.3%

Value ($000) $4,617 Shares 95,834 Est. Cost $37.67 Unrealized +11.4%

LNG CHENIERE ENERGY INC 0.3%

Value ($000) $4,055 Shares 17,258 Est. Cost $225.16 Unrealized -6.7%

MGY MAGNOLIA OIL & GAS CORP 0.3%

Value ($000) $3,960 Shares 165,899 Est. Cost $24.44 Unrealized -7.0%

— DRAFTKINGS INC NEW 0.3%

Value ($000) $3,846 Shares 4,285,000 Est. Cost $0.90 Unrealized —

DSGX DESCARTES SYS GROUP INC 0.3%

Value ($000) $3,813 Shares 40,467 Est. Cost $70.18 Unrealized +27.4%

CAKE CHEESECAKE FACTORY INC 0.3%

Value ($000) $3,780 Shares 69,174 Est. Cost $50.24 Unrealized -0.4%

— CHART INDS INC 0.3%

Value ($000) $3,488 Shares 49,000 Est. Cost $64.30 Unrealized —

BILL BILL HOLDINGS INC 0.2%

Value ($000) $3,380 Shares 63,811 Est. Cost $46.44 Unrealized +10.6%

PLMR PALOMAR HLDGS INC 0.2%

Value ($000) $3,327 Shares 28,501 Est. Cost $105.85 Unrealized +15.3%

ONON ON HLDG AG 0.2%

Value ($000) $3,023 Shares 71,393 Est. Cost $33.70 Unrealized +27.9%

— AKERO THERAPEUTICS INC 0.2%

Value ($000) $2,925 Shares 61,612 Est. Cost $51.25 Unrealized —

CWAN CLEARWATER ANALYTICS HLDGS I 0.2%

Value ($000) $2,895 Shares 160,669 Est. Cost $23.54 Unrealized -14.9%

KVYO KLAVIYO INC 0.2%

Value ($000) $2,869 Shares 103,619 Est. Cost $32.55 Unrealized -13.9%

CWST CASELLA WASTE SYS INC 0.2%

Value ($000) $2,853 Shares 30,065 Est. Cost $112.31 Unrealized -17.3%

FOUR SHIFT4 PMTS INC 0.2%

Value ($000) $2,850 Shares 36,823 Est. Cost $86.05 Unrealized -17.9%

ORIC ORIC PHARMACEUTICALS INC 0.2%

Value ($000) $2,649 Shares 220,735 Est. Cost $9.92 Unrealized +16.0%

— ITRON INC 0.2%

Value ($000) $2,292 Shares 2,000,000 Est. Cost $1.19 Unrealized —

STUB STUBHUB HLDGS INC 0.1%

Value ($000) $1,989 Shares 118,129 Est. Cost $18.34 Unrealized -14.3%

ESTC ELASTIC N V 0.1%

Value ($000) $1,951 Shares 23,088 Est. Cost $92.44 Unrealized -11.7%

ADMA ADMA BIOLOGICS INC 0.1%

Value ($000) $1,704 Shares 116,259 Est. Cost $17.97 Unrealized -6.2%

UBER UBER TECHNOLOGIES INC 0.1%

Value ($000) $1,258 Shares 12,841 Est. Cost $93.52 Unrealized -3.7%

MCW MISTER CAR WASH INC 0.1%

Value ($000) $1,137 Shares 213,303 Est. Cost $7.47 Unrealized -29.6%

LYV LIVE NATION ENTERTAINMENT IN 0.1%

Value ($000) $992 Shares 6,070 Est. Cost $158.04 Unrealized -9.1%

EU ENCORE ENERGY CORP 0.1%

Value ($000) $844 Shares 262,916 Est. Cost $2.69 Unrealized +6.2%

MSTR STRATEGY INC 0.0%

Value ($000) $643 Shares 1,997 Est. Cost $317.51 Unrealized -27.5%

NOW SERVICENOW INC 0.0%

Value ($000) $573 Shares 623 Est. Cost $172.25 Unrealized -0.4%

BURL BURLINGTON STORES INC 0.0%

Value ($000) $520 Shares 2,042 Est. Cost $271.63 Unrealized -0.1%

SMCI SUPER MICRO COMPUTER INC 0.0%

Value ($000) $354 Shares 7,387 Est. Cost $36.35 Unrealized +13.3%

DKNG DRAFTKINGS INC NEW 0.0%

Value ($000) $325 Shares 8,699 Est. Cost $34.46 Unrealized -4.6%

BAH BOOZ ALLEN HAMILTON HLDG COR 0.0%

Value ($000) $287 Shares 2,873 Est. Cost $86.17 Unrealized +2.7%

LOAR LOAR HOLDINGS INC 0.0%

Value ($000) $233 Shares 2,908 Est. Cost $86.55 Unrealized -15.8%

— NORTHERN OIL & GAS INC 0.0%

Value ($000) $200 Shares 200,000 Est. Cost $1.17 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	MR COOPER GROUP INC	41,680	$8,786	0.6%	$161.08	—	—	62482R107
MC	MOELIS & CO	119,117	$8,495	0.6%	$69.25	-5.0%	—	60786M105
METC	RAMACO RES INC	243,295	$8,075	0.6%	$11.93	+120.3%	—	75134P600
CVLT	COMMVAULT SYS INC	38,329	$7,236	0.5%	$171.14	-17.8%	—	204166102
AXON	AXON ENTERPRISE INC	9,788	$7,024	0.5%	$492.57	+26.0%	—	05464C101
VRNS	VARONIS SYS INC	107,322	$6,168	0.4%	$55.48	-24.3%	—	922280102
GTES	GATES INDL CORP PLC	242,353	$6,015	0.4%	$24.84	-7.1%	—	G39108108
CLH	CLEAN HARBORS INC	25,353	$5,887	0.4%	$137.42	+66.3%	—	184496107
—	MERUS N V	61,558	$5,796	0.4%	$94.15	—	—	N5749R100
—	CLOUDFLARE INC	4,225,000	$5,263	0.4%	$0.97	—	—	18915MAC1
WIX	WIX COM LTD	27,783	$4,935	0.4%	$111.38	+8.6%	—	M98068105
FLS	FLOWSERVE CORP	92,602	$4,921	0.4%	$53.92	+18.8%	—	34354P105
—	LIVE NATION ENTERTAINMENT IN	3,000,000	$4,839	0.4%	$1.54	—	—	538034BA6
ACLX	ARCELLX INC	58,894	$4,835	0.4%	$65.20	+22.4%	—	03940C100
HROW	HARROW INC	95,834	$4,617	0.3%	$37.67	+11.4%	—	415858109
LNG	CHENIERE ENERGY INC	17,258	$4,055	0.3%	$225.16	-6.7%	—	16411R208
MGY	MAGNOLIA OIL & GAS CORP	165,899	$3,960	0.3%	$24.44	-7.0%	—	559663109
—	DRAFTKINGS INC NEW	4,285,000	$3,846	0.3%	$0.90	—	—	26142RAB0
DSGX	DESCARTES SYS GROUP INC	40,467	$3,813	0.3%	$70.18	+27.4%	—	249906108
CAKE	CHEESECAKE FACTORY INC	69,174	$3,780	0.3%	$50.24	-0.4%	—	163072101
—	CHART INDS INC	49,000	$3,488	0.3%	$64.30	—	—	16115Q407
BILL	BILL HOLDINGS INC	63,811	$3,380	0.2%	$46.44	+10.6%	—	090043100
PLMR	PALOMAR HLDGS INC	28,501	$3,327	0.2%	$105.85	+15.3%	—	69753M105
ONON	ON HLDG AG	71,393	$3,023	0.2%	$33.70	+27.9%	—	H5919C104
—	AKERO THERAPEUTICS INC	61,612	$2,925	0.2%	$51.25	—	—	00973Y108
CWAN	CLEARWATER ANALYTICS HLDGS I	160,669	$2,895	0.2%	$23.54	-14.9%	—	185123106
KVYO	KLAVIYO INC	103,619	$2,869	0.2%	$32.55	-13.9%	—	49845K101
CWST	CASELLA WASTE SYS INC	30,065	$2,853	0.2%	$112.31	-17.3%	—	147448104
FOUR	SHIFT4 PMTS INC	36,823	$2,850	0.2%	$86.05	-17.9%	—	82452J109
ORIC	ORIC PHARMACEUTICALS INC	220,735	$2,649	0.2%	$9.92	+16.0%	—	68622P109
—	ITRON INC	2,000,000	$2,292	0.2%	$1.19	—	—	465741AQ9
STUB	STUBHUB HLDGS INC	118,129	$1,989	0.1%	$18.34	-14.3%	—	86384P109
ESTC	ELASTIC N V	23,088	$1,951	0.1%	$92.44	-11.7%	—	N14506104
ADMA	ADMA BIOLOGICS INC	116,259	$1,704	0.1%	$17.97	-6.2%	—	000899104
UBER	UBER TECHNOLOGIES INC	12,841	$1,258	0.1%	$93.52	-3.7%	—	90353T100
MCW	MISTER CAR WASH INC	213,303	$1,137	0.1%	$7.47	-29.6%	—	60646V105
LYV	LIVE NATION ENTERTAINMENT IN	6,070	$992	0.1%	$158.04	-9.1%	—	538034109
EU	ENCORE ENERGY CORP	262,916	$844	0.1%	$2.69	+6.2%	—	29259W700
MSTR	STRATEGY INC	1,997	$643	0.0%	$317.51	-27.5%	—	594972408
NOW	SERVICENOW INC	623	$573	0.0%	$172.25	-0.4%	—	81762P102
BURL	BURLINGTON STORES INC	2,042	$520	0.0%	$271.63	-0.1%	—	122017106
SMCI	SUPER MICRO COMPUTER INC	7,387	$354	0.0%	$36.35	+13.3%	—	86800U302
DKNG	DRAFTKINGS INC NEW	8,699	$325	0.0%	$34.46	-4.6%	—	26142V105
BAH	BOOZ ALLEN HAMILTON HLDG COR	2,873	$287	0.0%	$86.17	+2.7%	—	099502106
LOAR	LOAR HOLDINGS INC	2,908	$233	0.0%	$86.55	-15.8%	—	53947R105
—	NORTHERN OIL & GAS INC	200,000	$200	0.0%	$1.17	—	—	665531AJ8

Decreased Positions (39)

— REV GROUP INC 0.2%

Value ($000) $2,986 (-87.2%) Shares 49,096 (-88.1%) Est. Cost $23.78 Unrealized —

RSI RUSH STREET INTERACTIVE INC 0.8%

Value ($000) $11,273 (-60.0%) Shares 580,176 (-57.9%) Est. Cost $12.50 Unrealized +47.9%

KTOS KRATOS DEFENSE & SEC SOLUTIO 2.2%

Value ($000) $29,759 (-21.4%) Shares 392,032 (-5.4%) Est. Cost $36.61 Unrealized +123.6%

ARES ARES MANAGEMENT CORPORATION 0.3%

Value ($000) $4,141 (-64.3%) Shares 25,622 (-64.7%) Est. Cost $39.56 Unrealized +291.7%

ROAD CONSTRUCTION PARTNERS INC 0.7%

Value ($000) $10,107 (-36.5%) Shares 93,110 (-25.8%) Est. Cost $114.16 Unrealized -1.4%

LEU CENTRUS ENERGY CORP 0.4%

Value ($000) $4,960 (-47.1%) Shares 20,433 (-32.5%) Est. Cost $106.76 Unrealized +182.8%

IWM ISHARES TR 0.1%

Value ($000) $1,261 (-77.2%) Shares 5,122 (-77.6%) Est. Cost $215.79 Unrealized —

— UBER TECHNOLOGIES INC 0.6%

Value ($000) $7,899 (-34.4%) Shares 6,090,000 (-25.6%) Est. Cost $1.26 Unrealized —

ISRG INTUITIVE SURGICAL INC 0.1%

Value ($000) $759 (-84.0%) Shares 1,341 (-87.4%) Est. Cost $448.01 Unrealized +18.8%

— BOEING CO 0.7%

Value ($000) $9,949 (-27.1%) Shares 143,250 (-27.1%) Est. Cost $62.98 Unrealized —

ALAB ASTERA LABS INC 0.5%

Value ($000) $7,528 (-29.0%) Shares 45,251 (-16.5%) Est. Cost $67.13 Unrealized +149.2%

WAL WESTERN ALLIANCE BANCORP 0.7%

Value ($000) $9,039 (-24.9%) Shares 107,520 (-22.6%) Est. Cost $69.48 Unrealized +16.0%

ZS ZSCALER INC 0.1%

Value ($000) $1,212 (-66.6%) Shares 5,387 (-55.4%) Est. Cost $232.87 Unrealized +21.2%

APLD APPLIED DIGITAL CORP 0.2%

Value ($000) $2,511 (-47.6%) Shares 102,393 (-51.0%) Est. Cost $14.81 Unrealized +94.5%

OKLO OKLO INC 0.1%

Value ($000) $1,184 (-65.8%) Shares 16,496 (-46.9%) Est. Cost $51.08 Unrealized +118.3%

MELI MERCADOLIBRE INC 0.1%

Value ($000) $947 (-69.4%) Shares 470 (-64.5%) Est. Cost $2118.26 Unrealized -0.8%

BOOT BOOT BARN HLDGS INC 0.6%

Value ($000) $7,727 (-21.7%) Shares 43,788 (-26.5%) Est. Cost $146.91 Unrealized +27.0%

CRS CARPENTER TECHNOLOGY CORP 1.0%

Value ($000) $13,157 (+18.6%) Shares 41,790 (-7.5%) Est. Cost $198.94 Unrealized +51.1%

IRON DISC MEDICINE INC 0.3%

Value ($000) $3,818 (-34.3%) Shares 48,082 (-45.4%) Est. Cost $51.74 Unrealized +63.3%

XYL XYLEM INC 0.0%

Value ($000) $434 (-81.2%) Shares 3,184 (-79.6%) Est. Cost $138.06 Unrealized +4.0%

NFG NATIONAL FUEL GAS CO 0.1%

Value ($000) $956 (-66.0%) Shares 11,942 (-60.8%) Est. Cost $87.18 Unrealized -5.5%

CORZ CORE SCIENTIFIC INC NEW 0.1%

Value ($000) $1,632 (-53.2%) Shares 112,077 (-42.3%) Est. Cost $10.01 Unrealized +74.2%

NCLH NORWEGIAN CRUISE LINE HLDG L 0.7%

Value ($000) $10,221 (-14.3%) Shares 457,913 (-5.4%) Est. Cost $23.96 Unrealized -11.9%

SKYW SKYWEST INC 0.8%

Value ($000) $11,556 (-11.3%) Shares 115,087 (-11.1%) Est. Cost $75.19 Unrealized +33.2%

— MIRUM PHARMACEUTICALS INC 0.4%

Value ($000) $5,804 (-19.4%) Shares 2,250,000 (-25.0%) Est. Cost $1.60 Unrealized —

NTRA NATERA INC 0.3%

Value ($000) $4,434 (-19.9%) Shares 19,353 (-43.7%) Est. Cost $146.29 Unrealized +42.6%

GATX GATX CORP 0.3%

Value ($000) $3,856 (-21.2%) Shares 22,733 (-18.8%) Est. Cost $155.58 Unrealized +5.6%

— AMERICAN WTR CAP CORP 0.2%

Value ($000) $2,987 (-25.4%) Shares 3,000,000 (-25.0%) Est. Cost $1.00 Unrealized —

MIRM MIRUM PHARMACEUTICALS INC 1.2%

Value ($000) $16,856 (+5.9%) Shares 213,391 (-1.7%) Est. Cost $44.53 Unrealized +61.2%

ORCL ORACLE CORP 0.0%

Value ($000) $537 (-62.6%) Shares 2,755 (-46.0%) Est. Cost $117.47 Unrealized +102.7%

MPC MARATHON PETE CORP 0.2%

Value ($000) $2,325 (-22.9%) Shares 14,296 (-8.6%) Est. Cost $147.88 Unrealized +26.0%

AS AMER SPORTS INC 0.1%

Value ($000) $818 (-42.3%) Shares 21,898 (-46.3%) Est. Cost $34.33 Unrealized -0.0%

INTU INTUIT 0.0%

Value ($000) $378 (-57.8%) Shares 571 (-56.5%) Est. Cost $522.10 Unrealized +26.5%

— SHIFT4 PMTS INC 0.4%

Value ($000) $4,949 (-7.7%) Shares 5,150,000 (-5.5%) Est. Cost $0.96 Unrealized —

SN SHARKNINJA INC 0.1%

Value ($000) $1,182 (-23.1%) Shares 10,560 (-29.1%) Est. Cost $87.97 Unrealized +12.0%

DASH DOORDASH INC 0.0%

Value ($000) $549 (-31.6%) Shares 2,422 (-17.9%) Est. Cost $223.11 Unrealized +5.1%

MA MASTERCARD INCORPORATED 0.1%

Value ($000) $731 (-9.7%) Shares 1,281 (-10.0%) Est. Cost $533.04 Unrealized +4.9%

V VISA INC 0.1%

Value ($000) $740 (-7.6%) Shares 2,109 (-10.1%) Est. Cost $326.28 Unrealized +4.3%

LIND LINDBLAD EXPEDITIONS HLDGS I 0.0%

Value ($000) $671 (+7.8%) Shares 46,556 (-4.3%) Est. Cost $11.41 Unrealized +10.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	REV GROUP INC	49,096 (-88.1%)	$2,986 (-87.2%)	0.2%	$23.78	—	COM	749527107
RSI	RUSH STREET INTERACTIVE INC	580,176 (-57.9%)	$11,273 (-60.0%)	0.8%	$12.50	+47.9%	COM	782011100
KTOS	KRATOS DEFENSE & SEC SOLUTIO	392,032 (-5.4%)	$29,759 (-21.4%)	2.2%	$36.61	+123.6%	COM NEW	50077B207
ARES	ARES MANAGEMENT CORPORATION	25,622 (-64.7%)	$4,141 (-64.3%)	0.3%	$39.56	+291.7%	CL A COM STK	03990B101
ROAD	CONSTRUCTION PARTNERS INC	93,110 (-25.8%)	$10,107 (-36.5%)	0.7%	$114.16	-1.4%	COM CL A	21044C107
LEU	CENTRUS ENERGY CORP	20,433 (-32.5%)	$4,960 (-47.1%)	0.4%	$106.76	+182.8%	CL A	15643U104
IWM	ISHARES TR	5,122 (-77.6%)	$1,261 (-77.2%)	0.1%	$215.79	—	RUSSELL 2000 ETF	464287655
—	UBER TECHNOLOGIES INC	6,090,000 (-25.6%)	$7,899 (-34.4%)	0.6%	$1.26	—	NOTE 0.875%12/0	90353TAM2
ISRG	INTUITIVE SURGICAL INC	1,341 (-87.4%)	$759 (-84.0%)	0.1%	$448.01	+18.8%	COM NEW	46120E602
—	BOEING CO	143,250 (-27.1%)	$9,949 (-27.1%)	0.7%	$62.98	—	DEP CONV PFD A	097023204
ALAB	ASTERA LABS INC	45,251 (-16.5%)	$7,528 (-29.0%)	0.5%	$67.13	+149.2%	COM	04626A103
WAL	WESTERN ALLIANCE BANCORP	107,520 (-22.6%)	$9,039 (-24.9%)	0.7%	$69.48	+16.0%	COM	957638109
ZS	ZSCALER INC	5,387 (-55.4%)	$1,212 (-66.6%)	0.1%	$232.87	+21.2%	COM	98980G102
APLD	APPLIED DIGITAL CORP	102,393 (-51.0%)	$2,511 (-47.6%)	0.2%	$14.81	+94.5%	COM NEW	038169207
OKLO	OKLO INC	16,496 (-46.9%)	$1,184 (-65.8%)	0.1%	$51.08	+118.3%	COM CL A	02156V109
MELI	MERCADOLIBRE INC	470 (-64.5%)	$947 (-69.4%)	0.1%	$2118.26	-0.8%	COM	58733R102
BOOT	BOOT BARN HLDGS INC	43,788 (-26.5%)	$7,727 (-21.7%)	0.6%	$146.91	+27.0%	COM	099406100
CRS	CARPENTER TECHNOLOGY CORP	41,790 (-7.5%)	$13,157 (+18.6%)	1.0%	$198.94	+51.1%	COM	144285103
IRON	DISC MEDICINE INC	48,082 (-45.4%)	$3,818 (-34.3%)	0.3%	$51.74	+63.3%	COM	254604101
XYL	XYLEM INC	3,184 (-79.6%)	$434 (-81.2%)	0.0%	$138.06	+4.0%	COM	98419M100
NFG	NATIONAL FUEL GAS CO	11,942 (-60.8%)	$956 (-66.0%)	0.1%	$87.18	-5.5%	COM	636180101
CORZ	CORE SCIENTIFIC INC NEW	112,077 (-42.3%)	$1,632 (-53.2%)	0.1%	$10.01	+74.2%	COM	21874A106
NCLH	NORWEGIAN CRUISE LINE HLDG L	457,913 (-5.4%)	$10,221 (-14.3%)	0.7%	$23.96	-11.9%	SHS	G66721104
SKYW	SKYWEST INC	115,087 (-11.1%)	$11,556 (-11.3%)	0.8%	$75.19	+33.2%	COM	830879102
—	MIRUM PHARMACEUTICALS INC	2,250,000 (-25.0%)	$5,804 (-19.4%)	0.4%	$1.60	—	NOTE 4.000% 5/0	604749AB7
NTRA	NATERA INC	19,353 (-43.7%)	$4,434 (-19.9%)	0.3%	$146.29	+42.6%	COM	632307104
GATX	GATX CORP	22,733 (-18.8%)	$3,856 (-21.2%)	0.3%	$155.58	+5.6%	COM	361448103
—	AMERICAN WTR CAP CORP	3,000,000 (-25.0%)	$2,987 (-25.4%)	0.2%	$1.00	—	NOTE 3.625% 6/1	03040WBE4
MIRM	MIRUM PHARMACEUTICALS INC	213,391 (-1.7%)	$16,856 (+5.9%)	1.2%	$44.53	+61.2%	COM	604749101
ORCL	ORACLE CORP	2,755 (-46.0%)	$537 (-62.6%)	0.0%	$117.47	+102.7%	COM	68389X105
MPC	MARATHON PETE CORP	14,296 (-8.6%)	$2,325 (-22.9%)	0.2%	$147.88	+26.0%	COM	56585A102
AS	AMER SPORTS INC	21,898 (-46.3%)	$818 (-42.3%)	0.1%	$34.33	-0.0%	COM SHS	G0260P102
INTU	INTUIT	571 (-56.5%)	$378 (-57.8%)	0.0%	$522.10	+26.5%	COM	461202103
—	SHIFT4 PMTS INC	5,150,000 (-5.5%)	$4,949 (-7.7%)	0.4%	$0.96	—	NOTE 0.500% 8/0	82452JAD1
SN	SHARKNINJA INC	10,560 (-29.1%)	$1,182 (-23.1%)	0.1%	$87.97	+12.0%	COM SHS	G8068L108
DASH	DOORDASH INC	2,422 (-17.9%)	$549 (-31.6%)	0.0%	$223.11	+5.1%	CL A	25809K105
MA	MASTERCARD INCORPORATED	1,281 (-10.0%)	$731 (-9.7%)	0.1%	$533.04	+4.9%	CL A	57636Q104
V	VISA INC	2,109 (-10.1%)	$740 (-7.6%)	0.1%	$326.28	+4.3%	COM CL A	92826C839
LIND	LINDBLAD EXPEDITIONS HLDGS I	46,556 (-4.3%)	$671 (+7.8%)	0.0%	$11.41	+10.5%	COM	535219109

Unchanged Positions (61)

INSM INSMED INC 2.3%

Value ($000) $31,399 Shares 180,410 Est. Cost $61.94 Unrealized +194.6%

BWXT BWX TECHNOLOGIES INC 3.3%

Value ($000) $45,083 Shares 260,834 Est. Cost $74.47 Unrealized +151.7%

— GUARDANT HEALTH INC 0.7%

Value ($000) $9,063 Shares 4,955,000 Est. Cost $1.03 Unrealized —

WWW WOLVERINE WORLD WIDE INC 0.3%

Value ($000) $4,684 Shares 258,067 Est. Cost $15.01 Unrealized +33.9%

— SEAGATE HDD CAYMAN 1.2%

Value ($000) $16,389 Shares 4,880,000 Est. Cost $1.70 Unrealized —

— WESTERN DIGITAL CORP 0.4%

Value ($000) $5,844 Shares 1,275,000 Est. Cost $1.32 Unrealized —

— ALIBABA GROUP HLDG LTD 0.6%

Value ($000) $8,107 Shares 5,220,000 Est. Cost $1.29 Unrealized —

CCJ CAMECO CORP 1.2%

Value ($000) $15,869 Shares 173,449 Est. Cost $37.09 Unrealized +142.5%

MSFT MICROSOFT CORP 1.2%

Value ($000) $16,668 Shares 34,466 Est. Cost $296.28 Unrealized +69.0%

GEV GE VERNOVA INC 1.4%

Value ($000) $19,875 Shares 30,410 Est. Cost $195.15 Unrealized +212.1%

AVGO BROADCOM INC 1.7%

Value ($000) $23,798 Shares 68,761 Est. Cost $156.89 Unrealized +127.6%

GS GOLDMAN SACHS GROUP INC 0.8%

Value ($000) $11,427 Shares 13,000 Est. Cost $276.56 Unrealized +194.1%

CDNS CADENCE DESIGN SYSTEM INC 0.6%

Value ($000) $7,781 Shares 24,894 Est. Cost $153.60 Unrealized +112.4%

ARGX ARGENX SE 0.5%

Value ($000) $6,941 Shares 8,254 Est. Cost $542.08 Unrealized —

XOM EXXON MOBIL CORP 0.9%

Value ($000) $12,696 Shares 105,500 Est. Cost $43.31 Unrealized +166.6%

BAC BANK AMERICA CORP 0.9%

Value ($000) $11,830 Shares 215,093 Est. Cost $31.25 Unrealized +68.5%

C CITIGROUP INC 0.3%

Value ($000) $4,668 Shares 40,000 Est. Cost $53.06 Unrealized +95.3%

— ALNYLAM PHARMACEUTICALS INC 0.3%

Value ($000) $4,654 Shares 3,165,000 Est. Cost $1.30 Unrealized —

— CYBERARK SOFTWARE LTD 0.4%

Value ($000) $5,946 Shares 13,329 Est. Cost $333.15 Unrealized —

ANET ARISTA NETWORKS INC 0.3%

Value ($000) $4,178 Shares 31,886 Est. Cost $86.52 Unrealized +59.1%

— UGI CORP NEW 0.3%

Value ($000) $4,605 Shares 3,250,000 Est. Cost $1.35 Unrealized —

— AEROVIRONMENT INC 0.2%

Value ($000) $2,984 Shares 2,750,000 Est. Cost $1.24 Unrealized —

XPO XPO INC 0.6%

Value ($000) $8,655 Shares 63,679 Est. Cost $96.57 Unrealized +41.1%

— BURLINGTON STORES INC 0.3%

Value ($000) $4,443 Shares 3,000,000 Est. Cost $1.39 Unrealized —

NET CLOUDFLARE INC 0.3%

Value ($000) $4,036 Shares 20,472 Est. Cost $110.91 Unrealized +90.7%

TJX TJX COS INC NEW 0.4%

Value ($000) $5,983 Shares 38,947 Est. Cost $76.95 Unrealized +91.9%

— LIBERTY MEDIA CORP DEL 0.5%

Value ($000) $7,198 Shares 5,690,000 Est. Cost $1.07 Unrealized —

— ASCENDIS PHARMA A/S 0.6%

Value ($000) $8,550 Shares 6,035,000 Est. Cost $1.09 Unrealized —

DINO HF SINCLAIR CORP 0.1%

Value ($000) $1,942 Shares 42,150 Est. Cost $41.92 Unrealized +22.3%

NLY ANNALY CAPITAL MANAGEMENT IN 0.2%

Value ($000) $2,388 Shares 106,805 Est. Cost $20.07 Unrealized —

BCS BARCLAYS PLC 0.1%

Value ($000) $1,152 Shares 45,279 Est. Cost $18.59 Unrealized —

AAPL APPLE INC 0.2%

Value ($000) $3,361 Shares 12,364 Est. Cost $189.24 Unrealized +41.8%

FCNCA FIRST CTZNS BANCSHARES INC D 0.1%

Value ($000) $1,217 Shares 567 Est. Cost $1605.78 Unrealized +17.3%

CRWD CROWDSTRIKE HLDGS INC 0.3%

Value ($000) $4,292 Shares 9,157 Est. Cost $383.52 Unrealized +32.8%

EXE EXPAND ENERGY CORPORATION 0.3%

Value ($000) $4,662 Shares 42,243 Est. Cost $49.03 Unrealized +125.7%

PANW PALO ALTO NETWORKS INC 0.1%

Value ($000) $1,629 Shares 8,845 Est. Cost $156.41 Unrealized +29.0%

MPWR MONOLITHIC PWR SYS INC 0.8%

Value ($000) $10,797 Shares 11,912 Est. Cost $222.35 Unrealized +332.1%

CACI CACI INTL INC 0.2%

Value ($000) $2,653 Shares 4,979 Est. Cost $296.66 Unrealized +90.5%

VRT VERTIV HOLDINGS CO 0.2%

Value ($000) $2,235 Shares 13,795 Est. Cost $58.17 Unrealized +198.4%

— SNOWFLAKE INC 0.8%

Value ($000) $10,345 Shares 6,700,000 Est. Cost $1.57 Unrealized —

TPR TAPESTRY INC 0.1%

Value ($000) $1,240 Shares 9,702 Est. Cost $78.66 Unrealized +45.0%

JPM JPMORGAN CHASE & CO. 0.5%

Value ($000) $6,434 Shares 19,967 Est. Cost $128.45 Unrealized +141.0%

SPG SIMON PPTY GROUP INC NEW 0.7%

Value ($000) $9,124 Shares 49,290 Est. Cost $138.40 Unrealized +30.1%

CVX CHEVRON CORP NEW 0.4%

Value ($000) $6,096 Shares 40,000 Est. Cost $67.42 Unrealized +124.6%

CHRW C H ROBINSON WORLDWIDE INC 0.0%

Value ($000) $582 Shares 3,619 Est. Cost $99.08 Unrealized +48.7%

TSLA TESLA INC 0.6%

Value ($000) $8,647 Shares 19,228 Est. Cost $330.72 Unrealized +34.0%

CELH CELSIUS HLDGS INC 0.0%

Value ($000) $355 Shares 7,760 Est. Cost $52.29 Unrealized -3.7%

— BOX INC 0.2%

Value ($000) $2,431 Shares 2,500,000 Est. Cost $1.00 Unrealized —

— OSI SYSTEMS INC 0.2%

Value ($000) $3,337 Shares 2,250,000 Est. Cost $1.45 Unrealized —

CW CURTISS WRIGHT CORP 0.2%

Value ($000) $3,415 Shares 6,194 Est. Cost $213.19 Unrealized +161.6%

TDG TRANSDIGM GROUP INC 0.4%

Value ($000) $5,410 Shares 4,068 Est. Cost $625.65 Unrealized +109.5%

PODD INSULET CORP 0.0%

Value ($000) $529 Shares 1,862 Est. Cost $241.99 Unrealized +29.2%

— MICROCHIP TECHNOLOGY INC. 0.2%

Value ($000) $2,965 Shares 50,860 Est. Cost $51.93 Unrealized —

— BLOCK INC 0.3%

Value ($000) $3,435 Shares 3,500,000 Est. Cost $0.91 Unrealized —

COP CONOCOPHILLIPS 0.1%

Value ($000) $1,872 Shares 20,000 Est. Cost $78.88 Unrealized +14.1%

DDOG DATADOG INC 0.0%

Value ($000) $412 Shares 3,028 Est. Cost $136.42 Unrealized +15.8%

EVR EVERCORE INC 0.1%

Value ($000) $1,398 Shares 4,108 Est. Cost $212.55 Unrealized +51.0%

NVDA NVIDIA CORPORATION 1.7%

Value ($000) $22,724 Shares 121,843 Est. Cost $96.62 Unrealized +92.6%

— QXO INC 0.1%

Value ($000) $1,217 Shares 22,000 Est. Cost $61.27 Unrealized —

— IMMUNOCORE HLDGS PLC 0.1%

Value ($000) $1,717 Shares 1,900,000 Est. Cost $0.86 Unrealized —

HCI HCI GROUP INC 0.2%

Value ($000) $3,358 Shares 17,520 Est. Cost $153.53 Unrealized +22.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
INSM	INSMED INC	180,410	$31,399	2.3%	$61.94	+194.6%	COM PAR $.01	457669307
BWXT	BWX TECHNOLOGIES INC	260,834	$45,083	3.3%	$74.47	+151.7%	COM	05605H100
—	GUARDANT HEALTH INC	4,955,000	$9,063	0.7%	$1.03	—	DEBT 1.250% 2/1	40131MAD1
WWW	WOLVERINE WORLD WIDE INC	258,067	$4,684	0.3%	$15.01	+33.9%	COM	978097103
—	SEAGATE HDD CAYMAN	4,880,000	$16,389	1.2%	$1.70	—	NOTE 3.500% 6/0	81180WBL4
—	WESTERN DIGITAL CORP	1,275,000	$5,844	0.4%	$1.32	—	NOTE 3.000%11/1	958102AT2
—	ALIBABA GROUP HLDG LTD	5,220,000	$8,107	0.6%	$1.29	—	NOTE 0.500% 6/0	01609WBG6
CCJ	CAMECO CORP	173,449	$15,869	1.2%	$37.09	+142.5%	COM	13321L108
MSFT	MICROSOFT CORP	34,466	$16,668	1.2%	$296.28	+69.0%	COM	594918104
GEV	GE VERNOVA INC	30,410	$19,875	1.4%	$195.15	+212.1%	COM	36828A101
AVGO	BROADCOM INC	68,761	$23,798	1.7%	$156.89	+127.6%	COM	11135F101
GS	GOLDMAN SACHS GROUP INC	13,000	$11,427	0.8%	$276.56	+194.1%	COM	38141G104
CDNS	CADENCE DESIGN SYSTEM INC	24,894	$7,781	0.6%	$153.60	+112.4%	COM	127387108
ARGX	ARGENX SE	8,254	$6,941	0.5%	$542.08	—	SPONSORED ADR	04016X101
XOM	EXXON MOBIL CORP	105,500	$12,696	0.9%	$43.31	+166.6%	COM	30231G102
BAC	BANK AMERICA CORP	215,093	$11,830	0.9%	$31.25	+68.5%	COM	060505104
C	CITIGROUP INC	40,000	$4,668	0.3%	$53.06	+95.3%	COM NEW	172967424
—	ALNYLAM PHARMACEUTICALS INC	3,165,000	$4,654	0.3%	$1.30	—	NOTE 1.000% 9/1	02043QAB3
—	CYBERARK SOFTWARE LTD	13,329	$5,946	0.4%	$333.15	—	SHS	M2682V108
ANET	ARISTA NETWORKS INC	31,886	$4,178	0.3%	$86.52	+59.1%	COM SHS	040413205
—	UGI CORP NEW	3,250,000	$4,605	0.3%	$1.35	—	NOTE 5.000% 6/0	902681AB1
—	AEROVIRONMENT INC	2,750,000	$2,984	0.2%	$1.24	—	NOTE 7/1	008073AA6
XPO	XPO INC	63,679	$8,655	0.6%	$96.57	+41.1%	COM	983793100
—	BURLINGTON STORES INC	3,000,000	$4,443	0.3%	$1.39	—	NOTE 1.250%12/1	122017AD8
NET	CLOUDFLARE INC	20,472	$4,036	0.3%	$110.91	+90.7%	CL A COM	18915M107
TJX	TJX COS INC NEW	38,947	$5,983	0.4%	$76.95	+91.9%	COM	872540109
—	LIBERTY MEDIA CORP DEL	5,690,000	$7,198	0.5%	$1.07	—	NOTE 2.250% 8/1	531229AQ5
—	ASCENDIS PHARMA A/S	6,035,000	$8,550	0.6%	$1.09	—	NOTE 2.250% 4/0	04351PAD3
DINO	HF SINCLAIR CORP	42,150	$1,942	0.1%	$41.92	+22.3%	COM	403949100
NLY	ANNALY CAPITAL MANAGEMENT IN	106,805	$2,388	0.2%	$20.07	—	COM NEW	035710839
BCS	BARCLAYS PLC	45,279	$1,152	0.1%	$18.59	—	ADR	06738E204
AAPL	APPLE INC	12,364	$3,361	0.2%	$189.24	+41.8%	COM	037833100
FCNCA	FIRST CTZNS BANCSHARES INC D	567	$1,217	0.1%	$1605.78	+17.3%	CL A	31946M103
CRWD	CROWDSTRIKE HLDGS INC	9,157	$4,292	0.3%	$383.52	+32.8%	CL A	22788C105
EXE	EXPAND ENERGY CORPORATION	42,243	$4,662	0.3%	$49.03	+125.7%	COM	165167735
PANW	PALO ALTO NETWORKS INC	8,845	$1,629	0.1%	$156.41	+29.0%	COM	697435105
MPWR	MONOLITHIC PWR SYS INC	11,912	$10,797	0.8%	$222.35	+332.1%	COM	609839105
CACI	CACI INTL INC	4,979	$2,653	0.2%	$296.66	+90.5%	CL A	127190304
VRT	VERTIV HOLDINGS CO	13,795	$2,235	0.2%	$58.17	+198.4%	COM CL A	92537N108
—	SNOWFLAKE INC	6,700,000	$10,345	0.8%	$1.57	—	NOTE 10/0	833445AD1
TPR	TAPESTRY INC	9,702	$1,240	0.1%	$78.66	+45.0%	COM	876030107
JPM	JPMORGAN CHASE & CO.	19,967	$6,434	0.5%	$128.45	+141.0%	COM	46625H100
SPG	SIMON PPTY GROUP INC NEW	49,290	$9,124	0.7%	$138.40	+30.1%	COM	828806109
CVX	CHEVRON CORP NEW	40,000	$6,096	0.4%	$67.42	+124.6%	COM	166764100
CHRW	C H ROBINSON WORLDWIDE INC	3,619	$582	0.0%	$99.08	+48.7%	COM NEW	12541W209
TSLA	TESLA INC	19,228	$8,647	0.6%	$330.72	+34.0%	COM	88160R101
CELH	CELSIUS HLDGS INC	7,760	$355	0.0%	$52.29	-3.7%	COM NEW	15118V207
—	BOX INC	2,500,000	$2,431	0.2%	$1.00	—	NOTE 1.500% 9/1	10316TAD6
—	OSI SYSTEMS INC	2,250,000	$3,337	0.2%	$1.45	—	NOTE 2.250% 8/0	671044AF2
CW	CURTISS WRIGHT CORP	6,194	$3,415	0.2%	$213.19	+161.6%	COM	231561101
TDG	TRANSDIGM GROUP INC	4,068	$5,410	0.4%	$625.65	+109.5%	COM	893641100
PODD	INSULET CORP	1,862	$529	0.0%	$241.99	+29.2%	COM	45784P101
—	MICROCHIP TECHNOLOGY INC.	50,860	$2,965	0.2%	$51.93	—	DEP SHS REPSTG	595017302
—	BLOCK INC	3,500,000	$3,435	0.3%	$0.91	—	NOTE 5/0	852234AJ2
COP	CONOCOPHILLIPS	20,000	$1,872	0.1%	$78.88	+14.1%	COM	20825C104
DDOG	DATADOG INC	3,028	$412	0.0%	$136.42	+15.8%	CL A COM	23804L103
EVR	EVERCORE INC	4,108	$1,398	0.1%	$212.55	+51.0%	CLASS A	29977A105
NVDA	NVIDIA CORPORATION	121,843	$22,724	1.7%	$96.62	+92.6%	COM	67066G104
—	QXO INC	22,000	$1,217	0.1%	$61.27	—	5.50 DEP PFD	82846H504
—	IMMUNOCORE HLDGS PLC	1,900,000	$1,717	0.1%	$0.86	—	NOTE 2.500% 2/0	45258DAB1
HCI	HCI GROUP INC	17,520	$3,358	0.2%	$153.53	+22.7%	COM	40416E103