Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BMO	BANK MONTREAL MEDIUM	320,000	$56.54M	1.9%	—	—	CALL	063671101
FSS	FEDERAL SIGNAL CORP	360,200	$46.28M	1.6%	$128.49	—	COM	313855108
AVGO	BROADCOM INC	77,197	$29.16M	1.0%	$377.75	—	COM	11135F101
CMG	CHIPOTLE MEXICAN GRILL INC	779,976	$26.52M	0.9%	$34.00	—	COM	169656105
TLT	ISHARES TR	300,000	$25.93M	0.9%	—	—	PUT	464287432
AMZN	AMAZON COM INC	107,937	$25.73M	0.9%	$238.34	—	COM	023135106
MTUM	ISHARES TR	75,000	$25.71M	0.9%	—	—	PUT	46432F396
ASML	ASML HLDG NV	11,400	$22.68M	0.8%	$1922.59	—	PUT	N07059210
SOXX	ISHARES TR	34,300	$21.98M	0.7%	—	—	PUT	464287523
ARMK	ARAMARK	370,785	$21.1M	0.7%	$56.90	—	COM	03852U106
NVDA	NVIDIA CORPORATION	103,208	$20.65M	0.7%	$200.09	—	COM	67066G104
MGA	MAGNA INTL INC	300,000	$19.7M	0.7%	—	—	CALL	559222401
CHRW	C H ROBINSON WORLDWIDE IN	102,215	$19.25M	0.7%	$188.34	—	COM NEW	12541W209
NVT	NVENT ELEC PLC	102,500	$17.39M	0.6%	$111.93	—	PUT	G6700G107
AMZN	AMAZON COM INC	70,000	$16.68M	0.6%	$238.34	—	CALL	023135106
STRL	STERLING INFRASTRUCTURE INC	19,370	$16.26M	0.6%	$839.36	—	COM	859241101
MSFT	MICROSOFT CORP	43,433	$16.2M	0.6%	$373.02	—	COM	594918104
ITB	ISHARES TR	150,000	$15.67M	0.5%	—	—	CALL	464288752
IMO	IMPERIAL OIL LTD	138,623	$15.53M	0.5%	$112.02	—	COM NEW	453038408
MNST	MONSTER BEVERAGE CORP NEW	157,783	$15.17M	0.5%	$96.12	—	COM	61174X109
TFII	TFI INTERNATIONAL INC	103,433	$14.85M	0.5%	$143.57	—	COM	87241L109
PUMP	PROPETRO HLDG CORP	963,358	$13.81M	0.5%	$14.34	—	COM	74347M108
PAYX	PAYCHEX INC	134,023	$13.18M	0.4%	$98.33	—	COM	704326107
NOW	SERVICENOW INC	130,000	$12.91M	0.4%	$99.28	—	CALL	81762P102
ARM	ARM HOLDINGS PLC	30,070	$10.66M	0.4%	$354.57	—	SPONSORED ADS	042068205
LPX	LOUISIANA PAC CORP	130,743	$10.28M	0.3%	$78.66	—	COM	546347105
AVGO	BROADCOM INC	25,000	$9.444M	0.3%	$377.75	—	CALL	11135F101
KRC	KILROY REALTY CORP	250,000	$9.367M	0.3%	—	—	CALL	49427F108
BLDR	BUILDERS FIRSTSOURCE INC	100,000	$8.948M	0.3%	$89.48	—	CALL	12008R107
ELS	EQUITY LIFESTYLE PROPERTIES	130,438	$8.407M	0.3%	$64.45	—	COM	29472R108
TXN	TEXAS INSTRS INC	25,000	$7.452M	0.3%	$268.11	—	PUT	882508104
WCN	WASTE CONNECTIONS INC	44,122	$7.355M	0.3%	$166.69	—	COM	94106B101
KWEB	KRANESHARES TRUST	300,000	$7.341M	0.2%	—	—	CALL	500767306
CNI	CANADIAN NATL RY CO	60,000	$7.154M	0.2%	$98.03	—	CALL	136375102
FSV	FIRSTSERVICE CORP NEW	50,000	$7.106M	0.2%	$155.60	—	CALL	33767E202
TRI	THOMSON REUTERS CORP	85,099	$6.95M	0.2%	$81.67	—	COM	884903881
DBB	INVESCO DB MULTI-SECTOR COMM	250,000	$6.025M	0.2%	—	—	CALL	46140H700
CARR	CARRIER GLOBAL CORPORATION	81,468	$5.976M	0.2%	$73.35	—	COM	14448C104
VMC	VULCAN MATLS CO	20,203	$5.96M	0.2%	$295.01	—	COM	929160109
PGR	PROGRESSIVE CORP	24,367	$5.323M	0.2%	$218.45	—	COM	743315103
ESTC	ELASTIC N V	92,053	$5.249M	0.2%	$57.02	—	ORD SHS	N14506104
GLW	CORNING INC	20,000	$5.109M	0.2%	$91.58	—	PUT	219350105
BRO	BROWN & BROWN INC	77,951	$5.001M	0.2%	$64.15	—	COM	115236101
SBUX	STARBUCKS CORP	47,853	$4.89M	0.2%	$102.19	—	COM	855244109
SIRI	SIRIUSXM HOLDINGS INC	160,836	$4.751M	0.2%	$29.54	—	COMMON STOCK	829933100
KO	COCA COLA CO	45,765	$3.719M	0.1%	$81.27	—	COM	191216100
PAAS	PAN AMERN SILVER CORP	78,962	$3.537M	0.1%	$44.79	—	COM	697900108
ICLN	ISHARES TR	165,000	$3.381M	0.1%	—	—	CALL	464288224
APO	APOLLO GLOBAL MGMT INC	26,443	$3.128M	0.1%	$118.31	—	COM	03769M106
APO	APOLLO GLOBAL MGMT INC	26,400	$3.123M	0.1%	$118.31	—	CALL	03769M106
APA	APA CORPORATION	95,000	$3.094M	0.1%	$32.57	—	COM	03743Q108
HD	HOME DEPOT INC	7,373	$2.6M	0.1%	$352.68	—	COM	437076102
TOL	TOLL BROTHERS INC	15,668	$2.581M	0.1%	$164.75	—	COM	889478103
PKE	PARK AEROSPACE CORP	60,416	$2.305M	0.1%	$38.16	—	COM	70014A104
SUI	SUN CMNTYS INC	16,279	$1.952M	0.1%	$119.91	—	COM	866674104
BWXT	BWX TECHNOLOGIES INC	9,310	$1.812M	0.1%	$194.65	—	COM	05605H100
KRMN	KARMAN HLDGS INC	35,413	$1.768M	0.1%	$49.92	—	COMMON STOCK	485924104
SATS	ECHOSTAR CORP	14,751	$1.497M	0.1%	$101.50	—	CL A	278768106
MRCY	MERCURY SYS INC	12,222	$1.495M	0.1%	$122.33	—	COM	589378108
BLDR	BUILDERS FIRSTSOURCE INC	14,970	$1.34M	0.0%	$89.48	—	COM	12008R107
RTX	RTX CORPORATION	6,640	$1.26M	0.0%	$189.73	—	COM	75513E101
SPGI	S&P GLOBAL INC	2,951	$1.202M	0.0%	$407.26	—	COM	78409V104
VRSK	VERISK ANALYTICS INC	6,664	$1.196M	0.0%	$179.53	—	COM	92345Y106
EXP	EAGLE MATLS INC	5,064	$1.139M	0.0%	$225.00	—	COM	26969P108
DCO	DUCOMMUN INC DEL	5,687	$1.053M	0.0%	$185.21	—	COM	264147109
HII	HUNTINGTON INGALLS INDS INC	3,721	$1.041M	0.0%	$279.89	—	COM	446413106
IESC	IES HOLDINGS INC	1,177	$865K	0.0%	$734.66	—	COM	44951W106
ADP	AUTOMATIC DATA PROCESSING IN	3,301	$739K	0.0%	$223.95	—	COM	053015103
APH	AMPHENOL CORP	2,551	$450K	0.0%	$176.32	—	CL A	032095101
NOW	SERVICENOW INC	4,504	$447K	0.0%	$99.28	—	COM	81762P102
MOG/A	MOOG INC	910	$386K	0.0%	$423.84	—	CL A	615394202
VG	VENTURE GLOBAL INC	23,227	$259K	0.0%	$11.13	—	COM CL A	92333F101
NBIS	NEBIUS GROUP N.V.	840	$232K	0.0%	$276.17	—	SHS CLASS A	N97284108

Increased Positions (29)

QQQ INVESCO QQQ TR 17.5%

Value $514M (+198.8%) Shares 698,100 (+134.2%) Est. Cost — Unrealized —

LQD ISHARES TR 5.6%

Value $164M (+39.0%) Shares 1,500,000 (+38.9%) Est. Cost — Unrealized —

TDY TELEDYNE TECHNOLOGIES INC 1.6%

Value $47.27M (+132.7%) Shares 70,874 (+111.1%) Est. Cost $620.01 Unrealized —

STN STANTEC INC 1.0%

Value $30.41M (+443.9%) Shares 441,245 (+582.0%) Est. Cost $70.80 Unrealized —

ASML ASML HLDG NV 0.9%

Value $26.44M (+1406.4%) Shares 13,292 (+900.2%) Est. Cost $1922.59 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.9%

Value $27.33M (+740.5%) Shares 36,600 (+632.0%) Est. Cost — Unrealized —

SXT SENSIENT TECHNOLOGIES CORP 1.0%

Value $29.74M (+128.3%) Shares 241,237 (+60.0%) Est. Cost $102.23 Unrealized —

DSGX DESCARTES SYS GROUP INC 3.4%

Value $100M (+17.8%) Shares 1,447,678 (+21.7%) Est. Cost $75.53 Unrealized —

TAC TRANSALTA CORP 0.6%

Value $16.6M (+272.6%) Shares 1,200,000 (+252.9%) Est. Cost — Unrealized —

TXN TEXAS INSTRS INC 0.5%

Value $14.99M (+370.4%) Shares 50,303 (+206.4%) Est. Cost $268.11 Unrealized —

NI NISOURCE INC 1.0%

Value $29.33M (+67.0%) Shares 616,779 (+63.9%) Est. Cost $45.38 Unrealized —

PWR QUANTA SVCS INC 0.7%

Value $21.31M (+111.6%) Shares 29,599 (+61.3%) Est. Cost $536.81 Unrealized —

FND FLOOR & DECOR HLDGS INC 0.4%

Value $11.31M (+2228.1%) Shares 190,568 (+1892.3%) Est. Cost $60.20 Unrealized —

AME AMETEK INC 0.9%

Value $26.59M (+60.7%) Shares 109,913 (+42.4%) Est. Cost $216.53 Unrealized —

MOD MODINE MFG CO 0.7%

Value $20.05M (+87.2%) Shares 75,084 (+51.9%) Est. Cost $207.43 Unrealized —

IDXX IDEXX LABS INC 0.2%

Value $6.567M (+1527.7%) Shares 12,474 (+1637.3%) Est. Cost $521.13 Unrealized —

RRX REGAL REXNORD CORPORATION 0.5%

Value $14.64M (+41.8%) Shares 61,469 (+11.5%) Est. Cost $185.93 Unrealized —

ATS ATS CORPORATION 0.3%

Value $9.639M (+52.6%) Shares 334,923 (+49.5%) Est. Cost $29.57 Unrealized —

EVR EVERCORE INC 0.3%

Value $7.992M (+61.5%) Shares 23,408 (+41.2%) Est. Cost $305.58 Unrealized —

PLD PROLOGIS INC. 0.3%

Value $8.256M (+33.8%) Shares 60,944 (+30.5%) Est. Cost $126.26 Unrealized —

OVV OVINTIV INC 0.3%

Value $7.828M (+31.9%) Shares 148,671 (+48.7%) Est. Cost $46.61 Unrealized —

FSV FIRSTSERVICE CORP NEW 0.2%

Value $6.42M (+41.4%) Shares 45,179 (+38.3%) Est. Cost $155.60 Unrealized —

LNG CHENIERE ENERGY INC 0.7%

Value $21.52M (+9.4%) Shares 90,018 (+29.9%) Est. Cost $216.50 Unrealized —

CW CURTISS WRIGHT CORP 0.4%

Value $10.85M (+19.7%) Shares 14,316 (+7.6%) Est. Cost $554.63 Unrealized —

CGAU CENTERRA GOLD INC 0.1%

Value $2.379M (+167.5%) Shares 150,000 (+200.0%) Est. Cost $6.30 Unrealized —

SGML SIGMA LITHIUM CORPORATION 0.2%

Value $4.652M (+40.1%) Shares 367,775 (+36.7%) Est. Cost $10.01 Unrealized —

AS AMER SPORTS INC 0.4%

Value $11.31M (+9.9%) Shares 334,093 (+6.9%) Est. Cost $37.91 Unrealized —

CVE CENOVUS ENERGY INC 0.9%

Value $27.56M (-3.1%) Shares 1,110,707 (+3.6%) Est. Cost $19.79 Unrealized —

SLB SLB LIMITED 0.2%

Value $5.346M (+4.0%) Shares 115,000 (+15.0%) Est. Cost $48.06 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	698,100 (+134.2%)	$514M (+198.8%)	17.5%	—	—	PUT	46090E103
LQD	ISHARES TR	1,500,000 (+38.9%)	$164M (+39.0%)	5.6%	—	—	PUT	464287242
TDY	TELEDYNE TECHNOLOGIES INC	70,874 (+111.1%)	$47.27M (+132.7%)	1.6%	$620.01	—	COM	879360105
STN	STANTEC INC	441,245 (+582.0%)	$30.41M (+443.9%)	1.0%	$70.80	—	COM	85472N109
ASML	ASML HLDG NV	13,292 (+900.2%)	$26.44M (+1406.4%)	0.9%	$1922.59	—	N Y REGISTRY SHS	N07059210
SPY	STATE STR SPDR S&P 500 ETF T	36,600 (+632.0%)	$27.33M (+740.5%)	0.9%	—	—	CALL	78462F103
SXT	SENSIENT TECHNOLOGIES CORP	241,237 (+60.0%)	$29.74M (+128.3%)	1.0%	$102.23	—	COM	81725T100
DSGX	DESCARTES SYS GROUP INC	1,447,678 (+21.7%)	$100M (+17.8%)	3.4%	$75.53	—	COM	249906108
TAC	TRANSALTA CORP	1,200,000 (+252.9%)	$16.6M (+272.6%)	0.6%	—	—	CALL	89346D107
TXN	TEXAS INSTRS INC	50,303 (+206.4%)	$14.99M (+370.4%)	0.5%	$268.11	—	COM	882508104
NI	NISOURCE INC	616,779 (+63.9%)	$29.33M (+67.0%)	1.0%	$45.38	—	COM	65473P105
PWR	QUANTA SVCS INC	29,599 (+61.3%)	$21.31M (+111.6%)	0.7%	$536.81	—	COM	74762E102
FND	FLOOR & DECOR HLDGS INC	190,568 (+1892.3%)	$11.31M (+2228.1%)	0.4%	$60.20	—	CL A	339750101
AME	AMETEK INC	109,913 (+42.4%)	$26.59M (+60.7%)	0.9%	$216.53	—	COM	031100100
MOD	MODINE MFG CO	75,084 (+51.9%)	$20.05M (+87.2%)	0.7%	$207.43	—	COM	607828100
IDXX	IDEXX LABS INC	12,474 (+1637.3%)	$6.567M (+1527.7%)	0.2%	$521.13	—	COM	45168D104
RRX	REGAL REXNORD CORPORATION	61,469 (+11.5%)	$14.64M (+41.8%)	0.5%	$185.93	—	COM	758750103
ATS	ATS CORPORATION	334,923 (+49.5%)	$9.639M (+52.6%)	0.3%	$29.57	—	COM	00217Y104
EVR	EVERCORE INC	23,408 (+41.2%)	$7.992M (+61.5%)	0.3%	$305.58	—	CLASS A	29977A105
PLD	PROLOGIS INC.	60,944 (+30.5%)	$8.256M (+33.8%)	0.3%	$126.26	—	COM	74340W103
OVV	OVINTIV INC	148,671 (+48.7%)	$7.828M (+31.9%)	0.3%	$46.61	—	COM	69047Q102
FSV	FIRSTSERVICE CORP NEW	45,179 (+38.3%)	$6.42M (+41.4%)	0.2%	$155.60	—	COM	33767E202
LNG	CHENIERE ENERGY INC	90,018 (+29.9%)	$21.52M (+9.4%)	0.7%	$216.50	—	COM NEW	16411R208
CW	CURTISS WRIGHT CORP	14,316 (+7.6%)	$10.85M (+19.7%)	0.4%	$554.63	—	COM	231561101
CGAU	CENTERRA GOLD INC	150,000 (+200.0%)	$2.379M (+167.5%)	0.1%	$6.30	—	CALL	152006102
SGML	SIGMA LITHIUM CORPORATION	367,775 (+36.7%)	$4.652M (+40.1%)	0.2%	$10.01	—	COM	826599102
AS	AMER SPORTS INC	334,093 (+6.9%)	$11.31M (+9.9%)	0.4%	$37.91	—	COM SHS	G0260P102
CVE	CENOVUS ENERGY INC	1,110,707 (+3.6%)	$27.56M (-3.1%)	0.9%	$19.79	—	COM	15135U109
SLB	SLB LIMITED	115,000 (+15.0%)	$5.346M (+4.0%)	0.2%	$48.06	—	COM STK	806857108

Exited Positions (58)

GLD SPDR GOLD TR 2.9%

Value $85.63M Shares 199,000 Est. Cost — Unrealized —

IWM ISHARES TR 2.8%

Value $81.84M Shares 330,000 Est. Cost — Unrealized —

BGSI BOYD GROUP SERVICES INC 1.0%

Value $29.65M Shares 231,905 Est. Cost $160.25 Unrealized —

LULU LULULEMON ATHLETICA INC 0.7%

Value $20.67M Shares 135,000 Est. Cost $183.89 Unrealized —

EA ELECTRONIC ARTS INC 0.6%

Value $18.35M Shares 90,000 Est. Cost — Unrealized —

LULU LULULEMON ATHLETICA INC 0.5%

Value $14.86M Shares 97,093 Est. Cost $183.89 Unrealized —

DOO BRP INC 0.5%

Value $13.74M Shares 191,290 Est. Cost $55.37 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.4%

Value $11.53M Shares 300,000 Est. Cost — Unrealized —

FXI ISHARES TR 0.4%

Value $10.77M Shares 300,000 Est. Cost — Unrealized —

AMAT APPLIED MATLS INC 0.4%

Value $10.48M Shares 30,664 Est. Cost $326.57 Unrealized —

XLE SELECT SECTOR SPDR TR 0.4%

Value $10.41M Shares 170,000 Est. Cost — Unrealized —

COP CONOCOPHILLIPS 0.3%

Value $9.9M Shares 75,000 Est. Cost $102.65 Unrealized —

ETR ENTERGY CORP NEW 0.3%

Value $9.068M Shares 80,708 Est. Cost $97.37 Unrealized —

IGV ISHARES TR 0.3%

Value $8.005M Shares 100,000 Est. Cost — Unrealized —

FNV FRANCO NEV CORP 0.3%

Value $7.412M Shares 30,000 Est. Cost $144.50 Unrealized —

BC BRUNSWICK CORP 0.2%

Value $7.122M Shares 97,877 Est. Cost $85.35 Unrealized —

AAPL APPLE INC 0.2%

Value $7.021M Shares 27,664 Est. Cost $262.82 Unrealized —

GIL GILDAN ACTIVEWEAR INC 0.2%

Value $6.909M Shares 124,157 Est. Cost $58.23 Unrealized —

CP CANADIAN PACIFIC KANSAS CITY 0.2%

Value $6.907M Shares 87,807 Est. Cost $75.59 Unrealized —

KKR KKR & CO INC 0.2%

Value $6.66M Shares 72,000 Est. Cost — Unrealized —

XPO XPO INC 0.2%

Value $5.456M Shares 28,046 Est. Cost $164.00 Unrealized —

CMG CHIPOTLE MEXICAN GRILL INC 0.2%

Value $4.801M Shares 150,000 Est. Cost $34.00 Unrealized —

GD GENERAL DYNAMICS CORP 0.2%

Value $4.714M Shares 13,734 Est. Cost $340.86 Unrealized —

UAL UNITED AIRLS HLDGS INC 0.1%

Value $4.143M Shares 45,000 Est. Cost — Unrealized —

BNO UNITED STS BRENT OIL FD LP 0.1%

Value $4.126M Shares 79,322 Est. Cost $52.01 Unrealized —

LGN LEGENCE CORP 0.1%

Value $3.857M Shares 68,315 Est. Cost $39.53 Unrealized —

EME EMCOR GROUP INC 0.1%

Value $3.857M Shares 5,224 Est. Cost $726.67 Unrealized —

META META PLATFORMS INC 0.1%

Value $3.249M Shares 5,678 Est. Cost $655.57 Unrealized —

PR PERMIAN RESOURCES CORP 0.1%

Value $3.198M Shares 150,000 Est. Cost $15.78 Unrealized —

TER TERADYNE INC 0.1%

Value $3.065M Shares 10,340 Est. Cost $218.33 Unrealized —

ROP ROPER TECHNOLOGIES INC 0.1%

Value $3.043M Shares 8,600 Est. Cost — Unrealized —

VICR VICOR CORP 0.1%

Value $2.762M Shares 17,156 Est. Cost $85.01 Unrealized —

TRI THOMSON REUTERS CORP 0.1%

Value $2.699M Shares 30,000 Est. Cost — Unrealized —

CEPT CANTOR EQUITY PARTNERS II IN 0.1%

Value $2.682M Shares 246,240 Est. Cost $11.28 Unrealized —

GEV GE VERNOVA INC 0.1%

Value $2.668M Shares 3,057 Est. Cost $736.93 Unrealized —

ITA ISHARES TR 0.1%

Value $2.618M Shares 11,970 Est. Cost $218.75 Unrealized —

TGT TARGET CORP 0.1%

Value $2.438M Shares 20,119 Est. Cost $94.33 Unrealized —

SVAC SPRING VY ACQUISITION CORP I 0.1%

Value $1.697M Shares 167,010 Est. Cost $10.53 Unrealized —

CVE CENOVUS ENERGY INC 0.1%

Value $1.592M Shares 60,000 Est. Cost $19.79 Unrealized —

TVA TEXAS VENTURES ACQUISITION I 0.1%

Value $1.577M Shares 151,804 Est. Cost $10.86 Unrealized —

IEX IDEX CORP 0.0%

Value $1.373M Shares 7,244 Est. Cost $170.79 Unrealized —

CAT CATERPILLAR INC 0.0%

Value $1.366M Shares 1,928 Est. Cost $439.96 Unrealized —

ESE ESCO TECHNOLOGIES INC 0.0%

Value $1.233M Shares 4,383 Est. Cost $239.60 Unrealized —

USAS AMERICAS GOLD AND SILVER COR 0.0%

Value $1.19M Shares 227,943 Est. Cost $4.13 Unrealized —

ADI ANALOG DEVICES INC 0.0%

Value $1.066M Shares 3,350 Est. Cost $262.40 Unrealized —

VHCPU VINE HILL CAP INVTS CORP II 0.0%

Value $1M Shares 100,000 Est. Cost $10.02 Unrealized —

CEPS CANTOR EQUITY PARTNERS VI IN 0.0%

Value $873K Shares 86,485 Est. Cost $10.10 Unrealized —

AEXA AMERICAN EXCEPTIONALISM ACQU 0.0%

Value $867K Shares 80,062 Est. Cost $10.92 Unrealized —

BEAG BOLD EAGLE ACQUISITION CORP 0.0%

Value $742K Shares 70,271 Est. Cost $10.41 Unrealized —

HCMAU HCM III ACQUISITION CORP 0.0%

Value $737K Shares 71,862 Est. Cost $10.31 Unrealized —

DAAQ DIGITAL ASSET ACQUISITION CO 0.0%

Value $732K Shares 71,441 Est. Cost $10.31 Unrealized —

CEPF CANTOR EQUITY PARTNERS IV IN 0.0%

Value $731K Shares 71,721 Est. Cost $10.15 Unrealized —

PSLV SPROTT ASSET MANAGEMENT LP 0.0%

Value $677K Shares 27,777 Est. Cost $12.24 Unrealized —

WCC WESCO INTL INC 0.0%

Value $449K Shares 1,642 Est. Cost $244.94 Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 0.0%

Value $422K Shares 871 Est. Cost $497.31 Unrealized —

SHW SHERWIN WILLIAMS CO 0.0%

Value $309K Shares 965 Est. Cost $325.68 Unrealized —

ALOVU ALDABRA 4 LQDTY OPP VEH INC 0.0%

Value $249K Shares 25,000 Est. Cost $9.96 Unrealized —

NVTS NAVITAS SEMICONDUCTOR CORP 0.0%

Value $195K Shares 22,186 Est. Cost $9.24 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	199,000	$85.63M	2.9%	—	—	PUT	78463V107
IWM	ISHARES TR	330,000	$81.84M	2.8%	—	—	CALL	464287655
BGSI	BOYD GROUP SERVICES INC	231,905	$29.65M	1.0%	$160.25	—	—	103310108
LULU	LULULEMON ATHLETICA INC	135,000	$20.67M	0.7%	$183.89	—	CALL	550021109
EA	ELECTRONIC ARTS INC	90,000	$18.35M	0.6%	—	—	PUT	285512109
LULU	LULULEMON ATHLETICA INC	97,093	$14.86M	0.5%	$183.89	—	—	550021109
DOO	BRP INC	191,290	$13.74M	0.5%	$55.37	—	—	05577W200
IBIT	ISHARES BITCOIN TRUST ETF	300,000	$11.53M	0.4%	—	—	CALL	46438F101
FXI	ISHARES TR	300,000	$10.77M	0.4%	—	—	CALL	464287184
AMAT	APPLIED MATLS INC	30,664	$10.48M	0.4%	$326.57	—	—	038222105
XLE	SELECT SECTOR SPDR TR	170,000	$10.41M	0.4%	—	—	PUT	81369Y506
COP	CONOCOPHILLIPS	75,000	$9.9M	0.3%	$102.65	—	—	20825C104
ETR	ENTERGY CORP NEW	80,708	$9.068M	0.3%	$97.37	—	—	29364G103
IGV	ISHARES TR	100,000	$8.005M	0.3%	—	—	CALL	464287515
FNV	FRANCO NEV CORP	30,000	$7.412M	0.3%	$144.50	—	CALL	351858105
BC	BRUNSWICK CORP	97,877	$7.122M	0.2%	$85.35	—	—	117043109
AAPL	APPLE INC	27,664	$7.021M	0.2%	$262.82	—	—	037833100
GIL	GILDAN ACTIVEWEAR INC	124,157	$6.909M	0.2%	$58.23	—	—	375916103
CP	CANADIAN PACIFIC KANSAS CITY	87,807	$6.907M	0.2%	$75.59	—	—	13646K108
KKR	KKR & CO INC	72,000	$6.66M	0.2%	—	—	CALL	48251W104
XPO	XPO INC	28,046	$5.456M	0.2%	$164.00	—	—	983793100
CMG	CHIPOTLE MEXICAN GRILL INC	150,000	$4.801M	0.2%	$34.00	—	CALL	169656105
GD	GENERAL DYNAMICS CORP	13,734	$4.714M	0.2%	$340.86	—	—	369550108
UAL	UNITED AIRLS HLDGS INC	45,000	$4.143M	0.1%	—	—	CALL	910047109
BNO	UNITED STS BRENT OIL FD LP	79,322	$4.126M	0.1%	$52.01	—	—	91167Q100
LGN	LEGENCE CORP	68,315	$3.857M	0.1%	$39.53	—	—	52476L109
EME	EMCOR GROUP INC	5,224	$3.857M	0.1%	$726.67	—	—	29084Q100
META	META PLATFORMS INC	5,678	$3.249M	0.1%	$655.57	—	—	30303M102
PR	PERMIAN RESOURCES CORP	150,000	$3.198M	0.1%	$15.78	—	—	71424F105
TER	TERADYNE INC	10,340	$3.065M	0.1%	$218.33	—	—	880770102
ROP	ROPER TECHNOLOGIES INC	8,600	$3.043M	0.1%	—	—	CALL	776696106
VICR	VICOR CORP	17,156	$2.762M	0.1%	$85.01	—	—	925815102
TRI	THOMSON REUTERS CORP	30,000	$2.699M	0.1%	—	—	CALL	884903808
CEPT	CANTOR EQUITY PARTNERS II IN	246,240	$2.682M	0.1%	$11.28	—	—	G1827P106
GEV	GE VERNOVA INC	3,057	$2.668M	0.1%	$736.93	—	—	36828A101
ITA	ISHARES TR	11,970	$2.618M	0.1%	$218.75	—	—	464288760
TGT	TARGET CORP	20,119	$2.438M	0.1%	$94.33	—	—	87612E106
SVAC	SPRING VY ACQUISITION CORP I	167,010	$1.697M	0.1%	$10.53	—	—	G8377R101
CVE	CENOVUS ENERGY INC	60,000	$1.592M	0.1%	$19.79	—	CALL	15135U109
TVA	TEXAS VENTURES ACQUISITION I	151,804	$1.577M	0.1%	$10.86	—	—	G8772L105
IEX	IDEX CORP	7,244	$1.373M	0.0%	$170.79	—	—	45167R104
CAT	CATERPILLAR INC	1,928	$1.366M	0.0%	$439.96	—	—	149123101
ESE	ESCO TECHNOLOGIES INC	4,383	$1.233M	0.0%	$239.60	—	—	296315104
USAS	AMERICAS GOLD AND SILVER COR	227,943	$1.19M	0.0%	$4.13	—	—	03062D803
ADI	ANALOG DEVICES INC	3,350	$1.066M	0.0%	$262.40	—	—	032654105
VHCPU	VINE HILL CAP INVTS CORP II	100,000	$1M	0.0%	$10.02	—	—	G9709D125
CEPS	CANTOR EQUITY PARTNERS VI IN	86,485	$873K	0.0%	$10.10	—	—	G1828R101
AEXA	AMERICAN EXCEPTIONALISM ACQU	80,062	$867K	0.0%	$10.92	—	—	G0273J101
BEAG	BOLD EAGLE ACQUISITION CORP	70,271	$742K	0.0%	$10.41	—	—	G2003N105
HCMAU	HCM III ACQUISITION CORP	71,862	$737K	0.0%	$10.31	—	—	G4365E129
DAAQ	DIGITAL ASSET ACQUISITION CO	71,441	$732K	0.0%	$10.31	—	—	G2868C103
CEPF	CANTOR EQUITY PARTNERS IV IN	71,721	$731K	0.0%	$10.15	—	—	G1828E100
PSLV	SPROTT ASSET MANAGEMENT LP	27,777	$677K	0.0%	$12.24	—	—	85207K107
WCC	WESCO INTL INC	1,642	$449K	0.0%	$244.94	—	—	95082P105
SPOT	SPOTIFY TECHNOLOGY S A	871	$422K	0.0%	$497.31	—	—	L8681T102
SHW	SHERWIN WILLIAMS CO	965	$309K	0.0%	$325.68	—	—	824348106
ALOVU	ALDABRA 4 LQDTY OPP VEH INC	25,000	$249K	0.0%	$9.96	—	—	G01900201
NVTS	NAVITAS SEMICONDUCTOR CORP	22,186	$195K	0.0%	$9.24	—	—	63942X106

Decreased Positions (35)

TLT ISHARES TR 1.9%

Value $57.04M (-83.6%) Shares 660,000 (-83.6%) Est. Cost — Unrealized —

GLD SPDR GOLD TR 0.2%

Value $4.605M (-89.3%) Shares 12,500 (-87.5%) Est. Cost — Unrealized —

CGAU CENTERRA GOLD INC 0.4%

Value $11.94M (-69.6%) Shares 752,615 (-65.9%) Est. Cost $6.30 Unrealized —

KGC KINROSS GOLD CORP 0.4%

Value $12.75M (-67.9%) Shares 539,646 (-58.5%) Est. Cost $9.41 Unrealized —

IAG IAMGOLD CORP 0.5%

Value $13.46M (-63.1%) Shares 849,801 (-56.2%) Est. Cost $9.59 Unrealized —

AGI ALAMOS GOLD INC 1.3%

Value $38.66M (-36.8%) Shares 1,274,296 (-7.5%) Est. Cost $37.29 Unrealized —

CNI CANADIAN NATL RY CO 0.4%

Value $10.78M (-61.0%) Shares 90,425 (-66.4%) Est. Cost $98.03 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 9.6%

Value $282M (+6.4%) Shares 377,700 (-7.4%) Est. Cost — Unrealized —

SU SUNCOR ENERGY INC NEW 0.6%

Value $16.96M (-49.0%) Shares 315,916 (-37.2%) Est. Cost $51.81 Unrealized —

SN SHARKNINJA INC 0.3%

Value $7.803M (-65.6%) Shares 51,247 (-76.1%) Est. Cost $111.67 Unrealized —

SPXC SPX TECHNOLOGIES INC 0.7%

Value $19.24M (-38.2%) Shares 78,488 (-49.6%) Est. Cost $196.93 Unrealized —

SKE SKEENA RES LTD NEW 0.7%

Value $21.87M (-34.7%) Shares 820,459 (-27.2%) Est. Cost $15.61 Unrealized —

CAE CAE INC 0.4%

Value $11.94M (-48.4%) Shares 476,531 (-46.4%) Est. Cost $30.48 Unrealized —

HYG ISHARES TR 8.2%

Value $241M (-3.4%) Shares 3,007,700 (-3.9%) Est. Cost — Unrealized —

NVT NVENT ELEC PLC 0.6%

Value $17.49M (-32.1%) Shares 103,121 (-52.7%) Est. Cost $111.93 Unrealized —

SII SPROTT INC 0.4%

Value $10.34M (-43.4%) Shares 92,015 (-28.1%) Est. Cost $50.62 Unrealized —

CR CRANE COMPANY 0.7%

Value $20.02M (-27.4%) Shares 89,767 (-44.3%) Est. Cost $186.64 Unrealized —

MTN VAIL RESORTS INC 0.0%

Value $609K (-91.6%) Shares 4,472 (-92.1%) Est. Cost $158.53 Unrealized —

GLW CORNING INC 0.0%

Value $65,646 (-99.0%) Shares 257 (-99.5%) Est. Cost $91.58 Unrealized —

FNV FRANCO NEV CORP 0.3%

Value $7.474M (-46.0%) Shares 35,858 (-36.0%) Est. Cost $144.50 Unrealized —

NXE NEXGEN ENERGY LTD 0.5%

Value $13.75M (-29.9%) Shares 1,464,523 (-13.5%) Est. Cost $6.62 Unrealized —

WELL WELLTOWER INC 0.9%

Value $25.1M (-17.0%) Shares 110,586 (-27.7%) Est. Cost $167.09 Unrealized —

TD TORONTO DOMINION BK ONT 0.8%

Value $24.68M (+24.5%) Shares 203,254 (-4.3%) Est. Cost $70.21 Unrealized —

FIX COMFORT SYS USA INC 0.3%

Value $10.18M (-31.2%) Shares 5,136 (-52.1%) Est. Cost $485.56 Unrealized —

ALB ALBEMARLE CORP 0.0%

Value $1.314M (-76.5%) Shares 9,732 (-68.7%) Est. Cost $113.25 Unrealized —

KGC KINROSS GOLD CORP 0.1%

Value $1.89M (-67.4%) Shares 80,000 (-57.9%) Est. Cost $9.41 Unrealized —

RY ROYAL BK CDA 0.6%

Value $16.43M (+22.2%) Shares 79,399 (-4.5%) Est. Cost $114.27 Unrealized —

EQT EQT CORP 0.2%

Value $5.32M (-35.7%) Shares 100,057 (-23.0%) Est. Cost $55.27 Unrealized —

MLM MARTIN MARIETTA MATLS INC 0.8%

Value $23.12M (-10.0%) Shares 40,094 (-8.1%) Est. Cost $579.45 Unrealized —

BEP BROOKFIELD RENEWABLE ENERGY 0.5%

Value $13.48M (-15.4%) Shares 388,000 (-20.5%) Est. Cost $32.64 Unrealized —

WRN WESTERN COPPER & GOLD CORP 0.2%

Value $5.799M (-26.8%) Shares 2,588,763 (-17.3%) Est. Cost $3.35 Unrealized —

AEM AGNICO EAGLE MINES LTD 0.1%

Value $3.103M (-38.9%) Shares 20,000 (-20.0%) Est. Cost $54.28 Unrealized —

KRE SPDR SERIES TRUST 0.0%

Value $267K (-77.2%) Shares 3,573 (-80.1%) Est. Cost $65.15 Unrealized —

CP CANADIAN PACIFIC KANSAS CITY 0.3%

Value $7.798M (-0.9%) Shares 90,000 (-10.0%) Est. Cost $75.59 Unrealized —

JPM JPMORGAN CHASE & CO 0.0%

Value $265K (+9.5%) Shares 810 (-1.6%) Est. Cost $253.02 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TLT	ISHARES TR	660,000 (-83.6%)	$57.04M (-83.6%)	1.9%	—	—	CALL	464287432
GLD	SPDR GOLD TR	12,500 (-87.5%)	$4.605M (-89.3%)	0.2%	—	—	CALL	78463V107
CGAU	CENTERRA GOLD INC	752,615 (-65.9%)	$11.94M (-69.6%)	0.4%	$6.30	—	COM	152006102
KGC	KINROSS GOLD CORP	539,646 (-58.5%)	$12.75M (-67.9%)	0.4%	$9.41	—	COM	496902404
IAG	IAMGOLD CORP	849,801 (-56.2%)	$13.46M (-63.1%)	0.5%	$9.59	—	COM	450913108
AGI	ALAMOS GOLD INC	1,274,296 (-7.5%)	$38.66M (-36.8%)	1.3%	$37.29	—	COM CL A	011532108
CNI	CANADIAN NATL RY CO	90,425 (-66.4%)	$10.78M (-61.0%)	0.4%	$98.03	—	COM	136375102
SPY	STATE STR SPDR S&P 500 ETF T	377,700 (-7.4%)	$282M (+6.4%)	9.6%	—	—	PUT	78462F103
SU	SUNCOR ENERGY INC NEW	315,916 (-37.2%)	$16.96M (-49.0%)	0.6%	$51.81	—	COM	867224107
SN	SHARKNINJA INC	51,247 (-76.1%)	$7.803M (-65.6%)	0.3%	$111.67	—	COM SHS	G8068L108
SPXC	SPX TECHNOLOGIES INC	78,488 (-49.6%)	$19.24M (-38.2%)	0.7%	$196.93	—	COM	78473E103
SKE	SKEENA RES LTD NEW	820,459 (-27.2%)	$21.87M (-34.7%)	0.7%	$15.61	—	COM	83056P715
CAE	CAE INC	476,531 (-46.4%)	$11.94M (-48.4%)	0.4%	$30.48	—	COM	124765108
HYG	ISHARES TR	3,007,700 (-3.9%)	$241M (-3.4%)	8.2%	—	—	PUT	464288513
NVT	NVENT ELEC PLC	103,121 (-52.7%)	$17.49M (-32.1%)	0.6%	$111.93	—	SHS	G6700G107
SII	SPROTT INC	92,015 (-28.1%)	$10.34M (-43.4%)	0.4%	$50.62	—	COM NEW	852066208
CR	CRANE COMPANY	89,767 (-44.3%)	$20.02M (-27.4%)	0.7%	$186.64	—	COMMON STOCK	224408104
MTN	VAIL RESORTS INC	4,472 (-92.1%)	$609K (-91.6%)	0.0%	$158.53	—	COM	91879Q109
GLW	CORNING INC	257 (-99.5%)	$65,646 (-99.0%)	0.0%	$91.58	—	COM	219350105
FNV	FRANCO NEV CORP	35,858 (-36.0%)	$7.474M (-46.0%)	0.3%	$144.50	—	COM	351858105
NXE	NEXGEN ENERGY LTD	1,464,523 (-13.5%)	$13.75M (-29.9%)	0.5%	$6.62	—	COM	65340P106
WELL	WELLTOWER INC	110,586 (-27.7%)	$25.1M (-17.0%)	0.9%	$167.09	—	COM	95040Q104
TD	TORONTO DOMINION BK ONT	203,254 (-4.3%)	$24.68M (+24.5%)	0.8%	$70.21	—	COM NEW	891160509
FIX	COMFORT SYS USA INC	5,136 (-52.1%)	$10.18M (-31.2%)	0.3%	$485.56	—	COM	199908104
ALB	ALBEMARLE CORP	9,732 (-68.7%)	$1.314M (-76.5%)	0.0%	$113.25	—	COM	012653101
KGC	KINROSS GOLD CORP	80,000 (-57.9%)	$1.89M (-67.4%)	0.1%	$9.41	—	CALL	496902404
RY	ROYAL BK CDA	79,399 (-4.5%)	$16.43M (+22.2%)	0.6%	$114.27	—	COM	780087102
EQT	EQT CORP	100,057 (-23.0%)	$5.32M (-35.7%)	0.2%	$55.27	—	COM	26884L109
MLM	MARTIN MARIETTA MATLS INC	40,094 (-8.1%)	$23.12M (-10.0%)	0.8%	$579.45	—	COM	573284106
BEP	BROOKFIELD RENEWABLE ENERGY	388,000 (-20.5%)	$13.48M (-15.4%)	0.5%	$32.64	—	PARTNERSHIP UNIT	G16258108
WRN	WESTERN COPPER & GOLD CORP	2,588,763 (-17.3%)	$5.799M (-26.8%)	0.2%	$3.35	—	COM	95805V108
AEM	AGNICO EAGLE MINES LTD	20,000 (-20.0%)	$3.103M (-38.9%)	0.1%	$54.28	—	CALL	008474108
KRE	SPDR SERIES TRUST	3,573 (-80.1%)	$267K (-77.2%)	0.0%	$65.15	—	ST STR SP REGBNK	78464A698
CP	CANADIAN PACIFIC KANSAS CITY	90,000 (-10.0%)	$7.798M (-0.9%)	0.3%	$75.59	—	CALL	13646K108
JPM	JPMORGAN CHASE & CO	810 (-1.6%)	$265K (+9.5%)	0.0%	$253.02	—	COM	46625H100

Unchanged Positions (5)

AEM AGNICO EAGLE MINES LTD 0.6%

Value $18.68M Shares 120,423 Est. Cost $54.28 Unrealized —

NVDA NVIDIA CORPORATION 0.3%

Value $9.004M Shares 45,000 Est. Cost $200.09 Unrealized —

LION LIONSGATE STUDIOS CORP 0.1%

Value $2.735M Shares 178,624 Est. Cost $8.97 Unrealized —

ATLX ATLAS LITHIUM CORP 0.1%

Value $2.765M Shares 749,217 Est. Cost $16.19 Unrealized —

NXE NEXGEN ENERGY LTD 0.0%

Value $470K Shares 50,000 Est. Cost $6.62 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AEM	AGNICO EAGLE MINES LTD	120,423	$18.68M	0.6%	$54.28	—	COM	008474108
NVDA	NVIDIA CORPORATION	45,000	$9.004M	0.3%	$200.09	—	PUT	67066G104
LION	LIONSGATE STUDIOS CORP	178,624	$2.735M	0.1%	$8.97	—	COM	53626N102
ATLX	ATLAS LITHIUM CORP	749,217	$2.765M	0.1%	$16.19	—	COM NEW	105861306
NXE	NEXGEN ENERGY LTD	50,000	$470K	0.0%	$6.62	—	CALL	65340P106