Shellback Capital, LP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BROS	DUTCH BROS INC	359,000	$21,978	2.1%	$56.81	0.0%	CL A	26701L100
NXPI	NXP SEMICONDUCTORS N V	81,585	$17,709	1.7%	$213.68	0.0%	COM	N6596X109
HLT	HILTON WORLDWIDE HLDGS INC	55,000	$15,799	1.5%	$272.20	0.0%	COM	43300A203
MCHP	MICROCHIP TECHNOLOGY INC.	225,000	$14,337	1.4%	$61.35	0.0%	COM	595017104
GOOGL	ALPHABET INC	45,000	$14,085	1.3%	$285.60	0.0%	CAP STK CL A	02079K305
LECO	LINCOLN ELEC HLDGS INC	51,114	$12,249	1.2%	$236.85	0.0%	COM	533900106
ROKU	ROKU INC	102,474	$11,117	1.1%	$101.49	0.0%	COM CL A	77543R102
CMI	CUMMINS INC	20,000	$10,209	1.0%	$466.32	0.0%	COM	231021106
MLM	MARTIN MARIETTA MATLS INC	15,920	$9,913	0.9%	$621.36	0.0%	COM	573284106
M	MACYS INC	357,000	$7,872	0.8%	$20.47	0.0%	COM	55616P104
LITE	LUMENTUM HLDGS INC	20,000	$7,372	0.7%	$256.82	0.0%	COM	55024U109
PUMP	PROPETRO HLDG CORP	697,349	$6,632	0.6%	$8.69	0.0%	COM	74347M108
MKSI	MKS INC.	36,407	$5,818	0.6%	$148.21	0.0%	COM	55306N104
REGN	REGENERON PHARMACEUTICALS	7,384	$5,699	0.5%	$678.68	0.0%	COM	75886F107
LIF	LIFE360 INC	70,000	$4,490	0.4%	$83.07	0.0%	COM	532206109
GAP	GAP INC	175,000	$4,480	0.4%	$24.07	0.0%	COM	364760108
LULU	LULULEMON ATHLETICA INC	20,000	$4,156	0.4%	$181.15	0.0%	COM	550021109
TTD	THE TRADE DESK INC	100,000	$3,796	0.4%	$44.33	0.0%	COM CL A	88339J105
Z	ZILLOW GROUP INC	50,000	$3,411	0.3%	$72.41	0.0%	CL C CAP STK	98954M200
SHOO	MADDEN STEVEN LTD	71,000	$2,956	0.3%	$38.43	0.0%	COM	556269108
GIII	G III APPAREL GROUP LTD	99,700	$2,887	0.3%	$28.49	0.0%	COM	36237H101
IMAX	IMAX CORP	75,000	$2,772	0.3%	$34.87	0.0%	COM	45245E109
YETI	YETI HLDGS INC	50,000	$2,209	0.2%	$38.46	0.0%	COM	98585X104
MAR	MARRIOTT INTL INC NEW	5,000	$1,551	0.1%	$285.32	0.0%	CL A	571903202
SEI	SOLARIS ENERGY INFRAS INC	33,374	$1,534	0.1%	$48.29	0.0%	COM CL A	83418M103
SFIX	STITCH FIX INC	162,500	$853	0.1%	$4.56	0.0%	COM CL A	860897107

Increased Positions (23)

NFLX NETFLIX INC 0.4%

Value ($000) $3,750 (-91.5%) Shares 40,000 (+8.1%) Est. Cost $90.01 Unrealized +19.8%

SN SHARKNINJA INC 5.4%

Value ($000) $56,427 (+150.1%) Shares 504,261 (+130.5%) Est. Cost $85.93 Unrealized +14.7%

AMZN AMAZON COM INC 2.8%

Value ($000) $28,853 (+557.0%) Shares 125,000 (+525.0%) Est. Cost $224.31 Unrealized +2.0%

DOV DOVER CORP 1.9%

Value ($000) $19,397 (+5574.4%) Shares 99,350 (+4748.7%) Est. Cost $181.77 Unrealized +0.0%

ROST ROSS STORES INC 4.6%

Value ($000) $48,584 (+49.2%) Shares 269,700 (+26.2%) Est. Cost $144.71 Unrealized +15.1%

AS AMER SPORTS INC 3.5%

Value ($000) $36,977 (+55.6%) Shares 990,000 (+44.8%) Est. Cost $21.73 Unrealized +57.9%

TKR TIMKEN CO 3.2%

Value ($000) $33,324 (+62.4%) Shares 396,099 (+45.1%) Est. Cost $71.85 Unrealized +10.7%

ABNB AIRBNB INC 1.7%

Value ($000) $18,322 (+153.5%) Shares 135,000 (+126.8%) Est. Cost $127.49 Unrealized -2.3%

VSCO VICTORIAS SECRET AND CO 0.9%

Value ($000) $9,920 (+4398.0%) Shares 183,126 (+2153.6%) Est. Cost $38.95 Unrealized +2.0%

RL RALPH LAUREN CORP 5.2%

Value ($000) $54,956 (+19.2%) Shares 155,413 (+5.7%) Est. Cost $227.58 Unrealized +49.4%

CPRI CAPRI HOLDINGS LIMITED 2.1%

Value ($000) $21,545 (+32.2%) Shares 883,000 (+7.9%) Est. Cost $20.28 Unrealized +14.0%

UBER UBER TECHNOLOGIES INC 1.2%

Value ($000) $12,257 (+66.8%) Shares 150,000 (+100.0%) Est. Cost $86.18 Unrealized +4.5%

EAT BRINKER INTL INC 0.9%

Value ($000) $9,013 (+93.9%) Shares 62,800 (+71.1%) Est. Cost $145.99 Unrealized -10.3%

WMT WALMART INC 1.0%

Value ($000) $10,027 (+76.9%) Shares 90,000 (+63.6%) Est. Cost $99.93 Unrealized +7.3%

BURL BURLINGTON STORES INC 2.3%

Value ($000) $24,123 (+20.0%) Shares 83,515 (+5.7%) Est. Cost $255.48 Unrealized +6.2%

NCLH NORWEGIAN CRUISE LINE HLDG L 0.7%

Value ($000) $7,254 (+96.3%) Shares 325,000 (+116.7%) Est. Cost $21.48 Unrealized -1.7%

ONON ON HLDG AG 1.0%

Value ($000) $10,086 (+33.3%) Shares 217,000 (+21.5%) Est. Cost $46.80 Unrealized -7.9%

BKNG BOOKING HOLDINGS INC 2.6%

Value ($000) $26,777 (+10.2%) Shares 5,000 (+11.1%) Est. Cost $5032.31 Unrealized +2.1%

SPOT SPOTIFY TECHNOLOGY S A 3.9%

Value ($000) $40,650 (+5.4%) Shares 70,000 (+26.7%) Est. Cost $475.40 Unrealized +31.5%

LYFT LYFT INC 0.5%

Value ($000) $4,843 (+76.0%) Shares 250,000 (+100.0%) Est. Cost $17.40 Unrealized +19.5%

LYV LIVE NATION ENTERTAINMENT IN 1.1%

Value ($000) $11,666 (+19.0%) Shares 81,870 (+36.4%) Est. Cost $138.94 Unrealized +3.4%

TSEM TOWER SEMICONDUCTOR LTD 0.3%

Value ($000) $2,936 (+78.4%) Shares 25,000 (+9.9%) Est. Cost $51.26 Unrealized +87.9%

HIVE HIVE DIGITAL TECHNOLOGIES LT 0.6%

Value ($000) $6,192 (-5.0%) Shares 2,400,000 (+48.4%) Est. Cost $3.19 Unrealized +32.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC	40,000 (+8.1%)	$3,750 (-91.5%)	0.4%	$90.01	+19.8%	COM	64110L106
SN	SHARKNINJA INC	504,261 (+130.5%)	$56,427 (+150.1%)	5.4%	$85.93	+14.7%	COM SHS	G8068L108
AMZN	AMAZON COM INC	125,000 (+525.0%)	$28,853 (+557.0%)	2.8%	$224.31	+2.0%	COM	023135106
DOV	DOVER CORP	99,350 (+4748.7%)	$19,397 (+5574.4%)	1.9%	$181.77	+0.0%	COM	260003108
ROST	ROSS STORES INC	269,700 (+26.2%)	$48,584 (+49.2%)	4.6%	$144.71	+15.1%	COM	778296103
AS	AMER SPORTS INC	990,000 (+44.8%)	$36,977 (+55.6%)	3.5%	$21.73	+57.9%	COM SHS	G0260P102
TKR	TIMKEN CO	396,099 (+45.1%)	$33,324 (+62.4%)	3.2%	$71.85	+10.7%	COM	887389104
ABNB	AIRBNB INC	135,000 (+126.8%)	$18,322 (+153.5%)	1.7%	$127.49	-2.3%	COM CL A	009066101
VSCO	VICTORIAS SECRET AND CO	183,126 (+2153.6%)	$9,920 (+4398.0%)	0.9%	$38.95	+2.0%	COMMON STOCK	926400102
RL	RALPH LAUREN CORP	155,413 (+5.7%)	$54,956 (+19.2%)	5.2%	$227.58	+49.4%	CL A	751212101
CPRI	CAPRI HOLDINGS LIMITED	883,000 (+7.9%)	$21,545 (+32.2%)	2.1%	$20.28	+14.0%	SHS	G1890L107
UBER	UBER TECHNOLOGIES INC	150,000 (+100.0%)	$12,257 (+66.8%)	1.2%	$86.18	+4.5%	COM	90353T100
EAT	BRINKER INTL INC	62,800 (+71.1%)	$9,013 (+93.9%)	0.9%	$145.99	-10.3%	COM	109641100
WMT	WALMART INC	90,000 (+63.6%)	$10,027 (+76.9%)	1.0%	$99.93	+7.3%	COM	931142103
BURL	BURLINGTON STORES INC	83,515 (+5.7%)	$24,123 (+20.0%)	2.3%	$255.48	+6.2%	COM	122017106
NCLH	NORWEGIAN CRUISE LINE HLDG L	325,000 (+116.7%)	$7,254 (+96.3%)	0.7%	$21.48	-1.7%	SHS	G66721104
ONON	ON HLDG AG	217,000 (+21.5%)	$10,086 (+33.3%)	1.0%	$46.80	-7.9%	NAMEN AKT A	H5919C104
BKNG	BOOKING HOLDINGS INC	5,000 (+11.1%)	$26,777 (+10.2%)	2.6%	$5032.31	+2.1%	COM	09857L108
SPOT	SPOTIFY TECHNOLOGY S A	70,000 (+26.7%)	$40,650 (+5.4%)	3.9%	$475.40	+31.5%	SHS	L8681T102
LYFT	LYFT INC	250,000 (+100.0%)	$4,843 (+76.0%)	0.5%	$17.40	+19.5%	CL A COM	55087P104
LYV	LIVE NATION ENTERTAINMENT IN	81,870 (+36.4%)	$11,666 (+19.0%)	1.1%	$138.94	+3.4%	COM	538034109
TSEM	TOWER SEMICONDUCTOR LTD	25,000 (+9.9%)	$2,936 (+78.4%)	0.3%	$51.26	+87.9%	SHS NEW	M87915274
HIVE	HIVE DIGITAL TECHNOLOGIES LT	2,400,000 (+48.4%)	$6,192 (-5.0%)	0.6%	$3.19	+32.4%	COM NEW	433921103

Exited Positions (45)

CFG CITIZENS FINL GROUP INC 6.6%

Value ($000) $69,674 Shares 1,310,640 Est. Cost $49.19 Unrealized +8.9%

META META PLATFORMS INC 3.5%

Value ($000) $36,719 Shares 50,000 Est. Cost $558.34 Unrealized +19.5%

A AGILENT TECHNOLOGIES INC 3.1%

Value ($000) $32,886 Shares 256,218 Est. Cost $120.55 Unrealized +19.2%

GS GOLDMAN SACHS GROUP INC 3.0%

Value ($000) $31,854 Shares 40,000 Est. Cost $734.84 Unrealized +10.7%

ORCL ORACLE CORP 3.0%

Value ($000) $31,672 Shares 112,614 Est. Cost $254.17 Unrealized -6.3%

DHI D R HORTON INC 2.7%

Value ($000) $27,963 Shares 165,000 Est. Cost $135.83 Unrealized +11.9%

CRWV COREWEAVE INC 2.6%

Value ($000) $27,370 Shares 200,000 Est. Cost $118.31 Unrealized -14.3%

LFUS LITTELFUSE INC 2.6%

Value ($000) $26,933 Shares 103,983 Est. Cost $241.98 Unrealized +5.2%

RCL ROYAL CARIBBEAN GROUP 2.5%

Value ($000) $25,886 Shares 80,000 Est. Cost $168.62 Unrealized +67.0%

JCI JOHNSON CTLS INTL PLC 2.1%

Value ($000) $21,990 Shares 200,000 Est. Cost $106.86 Unrealized +7.4%

PINS PINTEREST INC 1.8%

Value ($000) $18,990 Shares 590,315 Est. Cost $34.31 Unrealized -16.1%

HD HOME DEPOT INC 1.8%

Value ($000) $18,639 Shares 46,000 Est. Cost $355.91 Unrealized +2.4%

EL LAUDER ESTEE COS INC 1.7%

Value ($000) $18,065 Shares 205,000 Est. Cost $88.48 Unrealized +9.4%

EBAY EBAY INC. 1.2%

Value ($000) $12,733 Shares 140,000 Est. Cost $87.96 Unrealized -1.8%

VMC VULCAN MATLS CO 1.2%

Value ($000) $12,305 Shares 40,000 Est. Cost $283.25 Unrealized +3.5%

MU MICRON TECHNOLOGY INC 1.1%

Value ($000) $11,712 Shares 70,000 Est. Cost $127.82 Unrealized +79.4%

CVNA CARVANA CO 1.1%

Value ($000) $11,317 Shares 30,000 Est. Cost $357.61 Unrealized +3.9%

PHM PULTE GROUP INC 1.0%

Value ($000) $10,570 Shares 80,000 Est. Cost $116.41 Unrealized +5.2%

UAL UNITED AIRLS HLDGS INC 0.9%

Value ($000) $9,168 Shares 95,000 Est. Cost $75.91 Unrealized +33.1%

DIS DISNEY WALT CO 0.9%

Value ($000) $9,160 Shares 80,000 Est. Cost $102.98 Unrealized +6.4%

GM GENERAL MTRS CO 0.9%

Value ($000) $9,146 Shares 150,000 Est. Cost $55.55 Unrealized +26.7%

SAIA SAIA INC 0.7%

Value ($000) $7,484 Shares 25,000 Est. Cost $301.66 Unrealized +0.2%

COF CAPITAL ONE FINL CORP 0.7%

Value ($000) $7,252 Shares 34,114 Est. Cost $185.05 Unrealized +20.1%

TOL TOLL BROTHERS INC 0.7%

Value ($000) $6,907 Shares 50,000 Est. Cost $144.55 Unrealized -6.1%

RDDT REDDIT INC 0.7%

Value ($000) $6,900 Shares 30,000 Est. Cost $204.09 Unrealized +3.0%

CELH CELSIUS HLDGS INC 0.6%

Value ($000) $6,324 Shares 110,000 Est. Cost $52.29 Unrealized -3.7%

UMAC UNUSUAL MACHS INC 0.6%

Value ($000) $6,313 Shares 418,101 Est. Cost $10.53 Unrealized +11.3%

XYZ BLOCK INC 0.5%

Value ($000) $5,420 Shares 75,000 Est. Cost $74.85 Unrealized -7.8%

MTH MERITAGE HOMES CORP 0.4%

Value ($000) $4,585 Shares 63,304 Est. Cost $86.11 Unrealized -19.6%

LTM LATAM AIRLINES GROUP SA 0.4%

Value ($000) $4,525 Shares 100,000 Est. Cost $45.25 Unrealized —

CZR CAESARS ENTERTAINMENT INC NE 0.4%

Value ($000) $4,054 Shares 150,000 Est. Cost $38.08 Unrealized -41.0%

NKE NIKE INC 0.3%

Value ($000) $3,487 Shares 50,000 Est. Cost $64.96 Unrealized -0.1%

MGM MGM RESORTS INTERNATIONAL 0.3%

Value ($000) $3,466 Shares 100,000 Est. Cost $36.70 Unrealized -7.5%

AMRC AMERESCO INC 0.3%

Value ($000) $3,109 Shares 92,580 Est. Cost $22.88 Unrealized +53.4%

DAL DELTA AIR LINES INC DEL 0.3%

Value ($000) $2,838 Shares 50,000 Est. Cost $54.07 Unrealized +15.5%

ETSY ETSY INC 0.3%

Value ($000) $2,656 Shares 40,000 Est. Cost $59.71 Unrealized +2.2%

SYY SYSCO CORP 0.2%

Value ($000) $2,470 Shares 30,000 Est. Cost $78.85 Unrealized -4.2%

UPS UNITED PARCEL SERVICE INC 0.2%

Value ($000) $2,088 Shares 25,000 Est. Cost $88.13 Unrealized +5.2%

KTB KONTOOR BRANDS INC 0.2%

Value ($000) $1,595 Shares 20,000 Est. Cost $71.60 Unrealized +3.7%

CP CANADIAN PACIFIC KANSAS CITY 0.1%

Value ($000) $1,490 Shares 20,000 Est. Cost $76.59 Unrealized -3.9%

RHI ROBERT HALF INC. 0.1%

Value ($000) $1,359 Shares 40,000 Est. Cost $37.52 Unrealized -23.9%

STUB STUBHUB HLDGS INC 0.1%

Value ($000) $842 Shares 50,000 Est. Cost $18.34 Unrealized -14.3%

LUV SOUTHWEST AIRLS CO 0.1%

Value ($000) $798 Shares 25,000 Est. Cost $29.68 Unrealized +17.2%

WING WINGSTOP INC 0.0%

Value ($000) $355 Shares 1,412 Est. Cost $295.94 Unrealized -16.3%

ANF ABERCROMBIE & FITCH CO 0.0%

Value ($000) $234 Shares 2,734 Est. Cost $93.30 Unrealized -6.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CFG	CITIZENS FINL GROUP INC	1,310,640	$69,674	6.6%	$49.19	+8.9%	—	174610105
META	META PLATFORMS INC	50,000	$36,719	3.5%	$558.34	+19.5%	—	30303M102
A	AGILENT TECHNOLOGIES INC	256,218	$32,886	3.1%	$120.55	+19.2%	—	00846U101
GS	GOLDMAN SACHS GROUP INC	40,000	$31,854	3.0%	$734.84	+10.7%	—	38141G104
ORCL	ORACLE CORP	112,614	$31,672	3.0%	$254.17	-6.3%	—	68389X105
DHI	D R HORTON INC	165,000	$27,963	2.7%	$135.83	+11.9%	—	23331A109
CRWV	COREWEAVE INC	200,000	$27,370	2.6%	$118.31	-14.3%	—	21873S108
LFUS	LITTELFUSE INC	103,983	$26,933	2.6%	$241.98	+5.2%	—	537008104
RCL	ROYAL CARIBBEAN GROUP	80,000	$25,886	2.5%	$168.62	+67.0%	—	V7780T103
JCI	JOHNSON CTLS INTL PLC	200,000	$21,990	2.1%	$106.86	+7.4%	—	G51502105
PINS	PINTEREST INC	590,315	$18,990	1.8%	$34.31	-16.1%	—	72352L106
HD	HOME DEPOT INC	46,000	$18,639	1.8%	$355.91	+2.4%	—	437076102
EL	LAUDER ESTEE COS INC	205,000	$18,065	1.7%	$88.48	+9.4%	—	518439104
EBAY	EBAY INC.	140,000	$12,733	1.2%	$87.96	-1.8%	—	278642103
VMC	VULCAN MATLS CO	40,000	$12,305	1.2%	$283.25	+3.5%	—	929160109
MU	MICRON TECHNOLOGY INC	70,000	$11,712	1.1%	$127.82	+79.4%	—	595112103
CVNA	CARVANA CO	30,000	$11,317	1.1%	$357.61	+3.9%	—	146869102
PHM	PULTE GROUP INC	80,000	$10,570	1.0%	$116.41	+5.2%	—	745867101
UAL	UNITED AIRLS HLDGS INC	95,000	$9,168	0.9%	$75.91	+33.1%	—	910047109
DIS	DISNEY WALT CO	80,000	$9,160	0.9%	$102.98	+6.4%	—	254687106
GM	GENERAL MTRS CO	150,000	$9,146	0.9%	$55.55	+26.7%	—	37045V100
SAIA	SAIA INC	25,000	$7,484	0.7%	$301.66	+0.2%	—	78709Y105
COF	CAPITAL ONE FINL CORP	34,114	$7,252	0.7%	$185.05	+20.1%	—	14040H105
TOL	TOLL BROTHERS INC	50,000	$6,907	0.7%	$144.55	-6.1%	—	889478103
RDDT	REDDIT INC	30,000	$6,900	0.7%	$204.09	+3.0%	—	75734B100
CELH	CELSIUS HLDGS INC	110,000	$6,324	0.6%	$52.29	-3.7%	—	15118V207
UMAC	UNUSUAL MACHS INC	418,101	$6,313	0.6%	$10.53	+11.3%	—	91532F102
XYZ	BLOCK INC	75,000	$5,420	0.5%	$74.85	-7.8%	—	852234103
MTH	MERITAGE HOMES CORP	63,304	$4,585	0.4%	$86.11	-19.6%	—	59001A102
LTM	LATAM AIRLINES GROUP SA	100,000	$4,525	0.4%	$45.25	—	—	51817R205
CZR	CAESARS ENTERTAINMENT INC NE	150,000	$4,054	0.4%	$38.08	-41.0%	—	12769G100
NKE	NIKE INC	50,000	$3,487	0.3%	$64.96	-0.1%	—	654106103
MGM	MGM RESORTS INTERNATIONAL	100,000	$3,466	0.3%	$36.70	-7.5%	—	552953101
AMRC	AMERESCO INC	92,580	$3,109	0.3%	$22.88	+53.4%	—	02361E108
DAL	DELTA AIR LINES INC DEL	50,000	$2,838	0.3%	$54.07	+15.5%	—	247361702
ETSY	ETSY INC	40,000	$2,656	0.3%	$59.71	+2.2%	—	29786A106
SYY	SYSCO CORP	30,000	$2,470	0.2%	$78.85	-4.2%	—	871829107
UPS	UNITED PARCEL SERVICE INC	25,000	$2,088	0.2%	$88.13	+5.2%	—	911312106
KTB	KONTOOR BRANDS INC	20,000	$1,595	0.2%	$71.60	+3.7%	—	50050N103
CP	CANADIAN PACIFIC KANSAS CITY	20,000	$1,490	0.1%	$76.59	-3.9%	—	13646K108
RHI	ROBERT HALF INC.	40,000	$1,359	0.1%	$37.52	-23.9%	—	770323103
STUB	STUBHUB HLDGS INC	50,000	$842	0.1%	$18.34	-14.3%	—	86384P109
LUV	SOUTHWEST AIRLS CO	25,000	$798	0.1%	$29.68	+17.2%	—	844741108
WING	WINGSTOP INC	1,412	$355	0.0%	$295.94	-16.3%	—	974155103
ANF	ABERCROMBIE & FITCH CO	2,734	$234	0.0%	$93.30	-6.3%	—	002896207

Decreased Positions (28)

CCL CARNIVAL CORP 0.1%

Value ($000) $1,527 (-95.4%) Shares 50,000 (-95.7%) Est. Cost $23.41 Unrealized +19.1%

W WAYFAIR INC 1.2%

Value ($000) $12,896 (-64.2%) Shares 128,429 (-68.1%) Est. Cost $37.33 Unrealized +157.6%

DASH DOORDASH INC 1.1%

Value ($000) $11,324 (-65.3%) Shares 50,000 (-58.3%) Est. Cost $224.95 Unrealized +4.3%

DKNG DRAFTKINGS INC NEW 0.4%

Value ($000) $4,308 (-82.3%) Shares 125,000 (-80.8%) Est. Cost $40.30 Unrealized -18.4%

OLLI OLLIES BARGAIN OUTLET HLDGS 0.9%

Value ($000) $9,639 (-64.9%) Shares 87,938 (-58.8%) Est. Cost $96.12 Unrealized +25.5%

PAY PAYMENTUS HOLDINGS INC 0.4%

Value ($000) $4,478 (-78.6%) Shares 141,747 (-79.3%) Est. Cost $33.06 Unrealized -1.3%

ORLY OREILLY AUTOMOTIVE INC 0.5%

Value ($000) $5,290 (-75.0%) Shares 58,000 (-70.4%) Est. Cost $92.40 Unrealized +5.7%

CUBI CUSTOMERS BANCORP INC 0.1%

Value ($000) $1,568 (-90.9%) Shares 21,448 (-91.9%) Est. Cost $65.77 Unrealized +4.3%

MOD MODINE MFG CO 0.2%

Value ($000) $2,063 (-88.3%) Shares 15,452 (-87.6%) Est. Cost $127.24 Unrealized +17.1%

ULTA ULTA BEAUTY INC 5.3%

Value ($000) $55,358 (-20.2%) Shares 91,500 (-27.9%) Est. Cost $400.64 Unrealized +37.2%

CHRW C H ROBINSON WORLDWIDE INC 0.2%

Value ($000) $1,608 (-89.4%) Shares 10,000 (-91.3%) Est. Cost $116.46 Unrealized +26.5%

AZO AUTOZONE INC 1.0%

Value ($000) $10,853 (-51.4%) Shares 3,200 (-38.5%) Est. Cost $3371.06 Unrealized +12.1%

BBY BEST BUY INC 0.7%

Value ($000) $7,416 (-59.0%) Shares 110,800 (-53.6%) Est. Cost $69.47 Unrealized +8.6%

CART MAPLEBEAR INC 0.1%

Value ($000) $1,004 (-90.9%) Shares 22,313 (-92.6%) Est. Cost $42.09 Unrealized -2.8%

WYNN WYNN RESORTS LTD 0.6%

Value ($000) $6,017 (-60.9%) Shares 50,000 (-58.3%) Est. Cost $112.13 Unrealized +10.2%

BCO BRINKS CO 0.3%

Value ($000) $2,876 (-76.5%) Shares 24,635 (-76.5%) Est. Cost $104.10 Unrealized +9.6%

ASO ACADEMY SPORTS & OUTDOORS IN 0.5%

Value ($000) $5,274 (-63.1%) Shares 105,566 (-63.1%) Est. Cost $51.10 Unrealized -3.1%

GPI GROUP 1 AUTOMOTIVE INC 1.1%

Value ($000) $11,799 (-42.5%) Shares 30,000 (-36.0%) Est. Cost $244.05 Unrealized +68.2%

SIG SIGNET JEWELERS LIMITED 0.0%

Value ($000) $414 (-95.4%) Shares 5,000 (-94.7%) Est. Cost $66.36 Unrealized +43.2%

BOOT BOOT BARN HLDGS INC 1.4%

Value ($000) $15,053 (-35.6%) Shares 85,300 (-39.5%) Est. Cost $151.30 Unrealized +23.3%

DKS DICKS SPORTING GOODS INC 2.5%

Value ($000) $26,577 (-22.9%) Shares 134,250 (-13.5%) Est. Cost $186.31 Unrealized +16.5%

BIRK BIRKENSTOCK HOLDING PLC 0.2%

Value ($000) $2,127 (-77.3%) Shares 52,000 (-74.9%) Est. Cost $50.07 Unrealized -15.4%

PTON PELOTON INTERACTIVE INC 0.4%

Value ($000) $3,850 (-57.2%) Shares 625,000 (-37.5%) Est. Cost $7.22 Unrealized -2.5%

ALK ALASKA AIR GROUP INC 0.7%

Value ($000) $7,042 (-35.7%) Shares 140,000 (-36.4%) Est. Cost $51.18 Unrealized -9.7%

WWW WOLVERINE WORLD WIDE INC 0.1%

Value ($000) $1,534 (-70.5%) Shares 84,500 (-55.4%) Est. Cost $26.08 Unrealized -23.0%

TJX TJX COS INC NEW 0.3%

Value ($000) $3,072 (-46.9%) Shares 20,000 (-50.0%) Est. Cost $117.90 Unrealized +25.3%

SHAK SHAKE SHACK INC 0.0%

Value ($000) $244 (-91.3%) Shares 3,000 (-90.0%) Est. Cost $114.90 Unrealized -23.3%

HZO MARINEMAX INC 0.4%

Value ($000) $4,339 (-35.0%) Shares 179,056 (-32.0%) Est. Cost $31.15 Unrealized -20.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCL	CARNIVAL CORP	50,000 (-95.7%)	$1,527 (-95.4%)	0.1%	$23.41	+19.1%	UNIT 99/99/9999	143658300
W	WAYFAIR INC	128,429 (-68.1%)	$12,896 (-64.2%)	1.2%	$37.33	+157.6%	CL A	94419L101
DASH	DOORDASH INC	50,000 (-58.3%)	$11,324 (-65.3%)	1.1%	$224.95	+4.3%	CL A	25809K105
DKNG	DRAFTKINGS INC NEW	125,000 (-80.8%)	$4,308 (-82.3%)	0.4%	$40.30	-18.4%	COM CL A	26142V105
OLLI	OLLIES BARGAIN OUTLET HLDGS	87,938 (-58.8%)	$9,639 (-64.9%)	0.9%	$96.12	+25.5%	COM	681116109
PAY	PAYMENTUS HOLDINGS INC	141,747 (-79.3%)	$4,478 (-78.6%)	0.4%	$33.06	-1.3%	COM CL A	70439P108
ORLY	OREILLY AUTOMOTIVE INC	58,000 (-70.4%)	$5,290 (-75.0%)	0.5%	$92.40	+5.7%	COM	67103H107
CUBI	CUSTOMERS BANCORP INC	21,448 (-91.9%)	$1,568 (-90.9%)	0.1%	$65.77	+4.3%	COM	23204G100
MOD	MODINE MFG CO	15,452 (-87.6%)	$2,063 (-88.3%)	0.2%	$127.24	+17.1%	COM	607828100
ULTA	ULTA BEAUTY INC	91,500 (-27.9%)	$55,358 (-20.2%)	5.3%	$400.64	+37.2%	COM	90384S303
CHRW	C H ROBINSON WORLDWIDE INC	10,000 (-91.3%)	$1,608 (-89.4%)	0.2%	$116.46	+26.5%	COM NEW	12541W209
AZO	AUTOZONE INC	3,200 (-38.5%)	$10,853 (-51.4%)	1.0%	$3371.06	+12.1%	COM	053332102
BBY	BEST BUY INC	110,800 (-53.6%)	$7,416 (-59.0%)	0.7%	$69.47	+8.6%	COM	086516101
CART	MAPLEBEAR INC	22,313 (-92.6%)	$1,004 (-90.9%)	0.1%	$42.09	-2.8%	COM	565394103
WYNN	WYNN RESORTS LTD	50,000 (-58.3%)	$6,017 (-60.9%)	0.6%	$112.13	+10.2%	COM	983134107
BCO	BRINKS CO	24,635 (-76.5%)	$2,876 (-76.5%)	0.3%	$104.10	+9.6%	COM	109696104
ASO	ACADEMY SPORTS & OUTDOORS IN	105,566 (-63.1%)	$5,274 (-63.1%)	0.5%	$51.10	-3.1%	COM	00402L107
GPI	GROUP 1 AUTOMOTIVE INC	30,000 (-36.0%)	$11,799 (-42.5%)	1.1%	$244.05	+68.2%	COM	398905109
SIG	SIGNET JEWELERS LIMITED	5,000 (-94.7%)	$414 (-95.4%)	0.0%	$66.36	+43.2%	SHS	G81276100
BOOT	BOOT BARN HLDGS INC	85,300 (-39.5%)	$15,053 (-35.6%)	1.4%	$151.30	+23.3%	COM	099406100
DKS	DICKS SPORTING GOODS INC	134,250 (-13.5%)	$26,577 (-22.9%)	2.5%	$186.31	+16.5%	COM	253393102
BIRK	BIRKENSTOCK HOLDING PLC	52,000 (-74.9%)	$2,127 (-77.3%)	0.2%	$50.07	-15.4%	COM SHS	M2029K104
PTON	PELOTON INTERACTIVE INC	625,000 (-37.5%)	$3,850 (-57.2%)	0.4%	$7.22	-2.5%	CL A COM	70614W100
ALK	ALASKA AIR GROUP INC	140,000 (-36.4%)	$7,042 (-35.7%)	0.7%	$51.18	-9.7%	COM	011659109
WWW	WOLVERINE WORLD WIDE INC	84,500 (-55.4%)	$1,534 (-70.5%)	0.1%	$26.08	-23.0%	COM	978097103
TJX	TJX COS INC NEW	20,000 (-50.0%)	$3,072 (-46.9%)	0.3%	$117.90	+25.3%	COM	872540109
SHAK	SHAKE SHACK INC	3,000 (-90.0%)	$244 (-91.3%)	0.0%	$114.90	-23.3%	CL A	819047101
HZO	MARINEMAX INC	179,056 (-32.0%)	$4,339 (-35.0%)	0.4%	$31.15	-20.8%	COM	567908108

Unchanged Positions (8)

TPR TAPESTRY INC 5.8%

Value ($000) $61,138 Shares 478,500 Est. Cost $36.38 Unrealized +213.4%

FIVE FIVE BELOW INC 2.4%

Value ($000) $25,052 Shares 133,000 Est. Cost $115.73 Unrealized +40.5%

CHDN CHURCHILL DOWNS INC 2.7%

Value ($000) $28,445 Shares 250,000 Est. Cost $104.26 Unrealized -0.8%

BRCB BLACK ROCK COFFEE BAR INC 0.5%

Value ($000) $5,118 Shares 230,000 Est. Cost $26.13 Unrealized -11.3%

ONEW ONEWATER MARINE INC 0.1%

Value ($000) $765 Shares 70,659 Est. Cost $31.03 Unrealized -57.0%

LTH LIFE TIME GROUP HOLDINGS INC 0.7%

Value ($000) $7,288 Shares 274,200 Est. Cost $22.79 Unrealized +14.2%

SRAD SPORTRADAR GROUP AG 0.1%

Value ($000) $717 Shares 30,150 Est. Cost $17.34 Unrealized —

CPA COPA HOLDINGS SA 0.6%

Value ($000) $6,035 Shares 50,036 Est. Cost $80.03 Unrealized +51.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TPR	TAPESTRY INC	478,500	$61,138	5.8%	$36.38	+213.4%	COM	876030107
FIVE	FIVE BELOW INC	133,000	$25,052	2.4%	$115.73	+40.5%	COM	33829M101
CHDN	CHURCHILL DOWNS INC	250,000	$28,445	2.7%	$104.26	-0.8%	COM	171484108
BRCB	BLACK ROCK COFFEE BAR INC	230,000	$5,118	0.5%	$26.13	-11.3%	CL A	092244102
ONEW	ONEWATER MARINE INC	70,659	$765	0.1%	$31.03	-57.0%	CL A COM	68280L101
LTH	LIFE TIME GROUP HOLDINGS INC	274,200	$7,288	0.7%	$22.79	+14.2%	COMMON STOCK	53190C102
SRAD	SPORTRADAR GROUP AG	30,150	$717	0.1%	$17.34	—	CLASS A ORD SHS	H8088L103
CPA	COPA HOLDINGS SA	50,036	$6,035	0.6%	$80.03	+51.5%	CL A	P31076105