Bienville Capital Management, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DASH	DOORDASH INC	103,080	$23,346	3.7%	$234.56	0.0%	CL A	25809K105
HUBS	HUBSPOT INC	28,457	$11,420	1.8%	$414.24	0.0%	COM	443573100
TOST	TOAST INC	299,988	$10,653	1.7%	$36.05	0.0%	CL A	888787108
DUOL	DUOLINGO INC	56,500	$9,916	1.6%	$235.64	0.0%	CL A COM	26603R106
SHY	ISHARES TR	16,805	$1,392	0.2%	$82.82	—	1 3 YR TREAS BD	464287457
EWZ	ISHARES INC	7,735	$247	0.0%	$31.88	—	MSCI BRAZIL ETF	464286400
KWEB	KRANESHARES TRUST	6,687	$228	0.0%	$34.05	—	CSI CHI INTERNET	500767306
LRCX	LAM RESEARCH CORP	1,230	$211	0.0%	$155.36	0.0%	COM NEW	512807306

Increased Positions (21)

KVYO KLAVIYO INC 5.0%

Value ($000) $31,472 (+306.9%) Shares 969,263 (+247.0%) Est. Cost $29.25 Unrealized -4.2%

SE SEA LTD 6.4%

Value ($000) $40,544 (+110.2%) Shares 317,819 (+194.4%) Est. Cost $144.94 Unrealized —

RBRK RUBRIK INC. 3.5%

Value ($000) $22,170 (+154.3%) Shares 289,874 (+173.5%) Est. Cost $80.09 Unrealized -4.2%

MELI MERCADOLIBRE INC 6.0%

Value ($000) $37,653 (+54.4%) Shares 18,693 (+79.2%) Est. Cost $2090.12 Unrealized +0.5%

DKNG DRAFTKINGS INC NEW 5.0%

Value ($000) $31,213 (+49.4%) Shares 905,783 (+62.1%) Est. Cost $36.49 Unrealized -9.9%

JAAA JANUS DETROIT STR TR 2.5%

Value ($000) $15,438 (+92.1%) Shares 305,216 (+92.8%) Est. Cost $50.65 Unrealized —

OMDA OMADA HEALTH INC 1.9%

Value ($000) $11,709 (+90.7%) Shares 742,033 (+167.3%) Est. Cost $20.36 Unrealized -0.4%

MNDY MONDAY COM LTD 5.5%

Value ($000) $34,650 (-12.3%) Shares 234,818 (+15.1%) Est. Cost $224.00 Unrealized -24.8%

KSPI KASPI KZ JSC 3.4%

Value ($000) $21,692 (+19.1%) Shares 277,635 (+24.5%) Est. Cost $88.67 Unrealized —

GTLB GITLAB INC 5.6%

Value ($000) $35,478 (-5.4%) Shares 945,332 (+13.6%) Est. Cost $51.72 Unrealized -16.3%

GLD SPDR GOLD TR 0.4%

Value ($000) $2,385 (+154.7%) Shares 6,019 (+128.4%) Est. Cost $323.09 Unrealized —

DRSK ETF SER SOLUTIONS 2.7%

Value ($000) $16,689 (+8.0%) Shares 586,211 (+9.4%) Est. Cost $27.52 Unrealized —

CPNG COUPANG INC 3.5%

Value ($000) $22,022 (+2.7%) Shares 933,537 (+40.2%) Est. Cost $22.36 Unrealized +27.3%

MNTN MNTN INC 1.7%

Value ($000) $10,973 (-3.8%) Shares 919,052 (+49.4%) Est. Cost $19.99 Unrealized -27.9%

ADME ETF SER SOLUTIONS 1.4%

Value ($000) $8,502 (+1.6%) Shares 165,689 (+1.1%) Est. Cost $37.77 Unrealized —

IWM ISHARES TR 0.1%

Value ($000) $624 (+23.8%) Shares 2,536 (+21.7%) Est. Cost $210.76 Unrealized —

XLF SELECT SECTOR SPDR TR 0.1%

Value ($000) $361 (+47.7%) Shares 6,592 (+45.3%) Est. Cost $54.15 Unrealized —

XLE SELECT SECTOR SPDR TR 0.4%

Value ($000) $2,759 (+4.4%) Shares 61,709 (+108.6%) Est. Cost $61.17 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.1%

Value ($000) $630 (+9.1%) Shares 3,287 (+8.1%) Est. Cost $178.96 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value ($000) $231 (+15.0%) Shares 460 (+15.0%) Est. Cost $466.40 Unrealized +6.7%

ETHA ISHARES ETHEREUM TR 0.0%

Value ($000) $242 (-0.5%) Shares 10,796 (+39.7%) Est. Cost $28.93 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KVYO	KLAVIYO INC	969,263 (+247.0%)	$31,472 (+306.9%)	5.0%	$29.25	-4.2%	COM SER A	49845K101
SE	SEA LTD	317,819 (+194.4%)	$40,544 (+110.2%)	6.4%	$144.94	—	SPONSORD ADS	81141R100
RBRK	RUBRIK INC.	289,874 (+173.5%)	$22,170 (+154.3%)	3.5%	$80.09	-4.2%	CL A	781154109
MELI	MERCADOLIBRE INC	18,693 (+79.2%)	$37,653 (+54.4%)	6.0%	$2090.12	+0.5%	COM	58733R102
DKNG	DRAFTKINGS INC NEW	905,783 (+62.1%)	$31,213 (+49.4%)	5.0%	$36.49	-9.9%	COM CL A	26142V105
JAAA	JANUS DETROIT STR TR	305,216 (+92.8%)	$15,438 (+92.1%)	2.5%	$50.65	—	HENDRSON AAA CL	47103U845
OMDA	OMADA HEALTH INC	742,033 (+167.3%)	$11,709 (+90.7%)	1.9%	$20.36	-0.4%	COM	68170A108
MNDY	MONDAY COM LTD	234,818 (+15.1%)	$34,650 (-12.3%)	5.5%	$224.00	-24.8%	SHS	M7S64H106
KSPI	KASPI KZ JSC	277,635 (+24.5%)	$21,692 (+19.1%)	3.4%	$88.67	—	SPONSORED ADS	48581R205
GTLB	GITLAB INC	945,332 (+13.6%)	$35,478 (-5.4%)	5.6%	$51.72	-16.3%	CLASS A COM	37637K108
GLD	SPDR GOLD TR	6,019 (+128.4%)	$2,385 (+154.7%)	0.4%	$323.09	—	GOLD SHS	78463V107
DRSK	ETF SER SOLUTIONS	586,211 (+9.4%)	$16,689 (+8.0%)	2.7%	$27.52	—	APTUS DEFINED	26922A388
CPNG	COUPANG INC	933,537 (+40.2%)	$22,022 (+2.7%)	3.5%	$22.36	+27.3%	CL A	22266T109
MNTN	MNTN INC	919,052 (+49.4%)	$10,973 (-3.8%)	1.7%	$19.99	-27.9%	CL A	55318A108
ADME	ETF SER SOLUTIONS	165,689 (+1.1%)	$8,502 (+1.6%)	1.4%	$37.77	—	APTUS DRAWDOWN	26922A784
IWM	ISHARES TR	2,536 (+21.7%)	$624 (+23.8%)	0.1%	$210.76	—	RUSSELL 2000 ETF	464287655
XLF	SELECT SECTOR SPDR TR	6,592 (+45.3%)	$361 (+47.7%)	0.1%	$54.15	—	STATE STREET FIN	81369Y605
XLE	SELECT SECTOR SPDR TR	61,709 (+108.6%)	$2,759 (+4.4%)	0.4%	$61.17	—	STATE STREET ENE	81369Y506
RSP	INVESCO EXCHANGE TRADED FD T	3,287 (+8.1%)	$630 (+9.1%)	0.1%	$178.96	—	S&P500 EQL WGT	46137V357
BRK/B	BERKSHIRE HATHAWAY INC DEL	460 (+15.0%)	$231 (+15.0%)	0.0%	$466.40	+6.7%	CL B NEW	084670702
ETHA	ISHARES ETHEREUM TR	10,796 (+39.7%)	$242 (-0.5%)	0.0%	$28.93	—	SHS	46438R105

Exited Positions (6)

DDOG DATADOG INC 1.6%

Value ($000) $9,799 Shares 68,815 Est. Cost $115.35 Unrealized +37.0%

MDB MONGODB INC 1.5%

Value ($000) $9,755 Shares 31,429 Est. Cost $216.58 Unrealized +68.0%

S SENTINELONE INC 1.2%

Value ($000) $7,841 Shares 445,233 Est. Cost $22.60 Unrealized -27.5%

GLBE GLOBAL E ONLINE LTD 1.2%

Value ($000) $7,701 Shares 215,347 Est. Cost $33.75 Unrealized +9.9%

GRND GRINDR INC 0.6%

Value ($000) $3,769 Shares 250,911 Est. Cost $17.53 Unrealized -22.5%

PAYO PAYONEER GLOBAL INC 0.1%

Value ($000) $420 Shares 69,438 Est. Cost $6.49 Unrealized -11.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DDOG	DATADOG INC	68,815	$9,799	1.6%	$115.35	+37.0%	—	23804L103
MDB	MONGODB INC	31,429	$9,755	1.5%	$216.58	+68.0%	—	60937P106
S	SENTINELONE INC	445,233	$7,841	1.2%	$22.60	-27.5%	—	81730H109
GLBE	GLOBAL E ONLINE LTD	215,347	$7,701	1.2%	$33.75	+9.9%	—	M5216V106
GRND	GRINDR INC	250,911	$3,769	0.6%	$17.53	-22.5%	—	39854F101
PAYO	PAYONEER GLOBAL INC	69,438	$420	0.1%	$6.49	-11.0%	—	70451X104

Decreased Positions (13)

CFLT CONFLUENT INC 3.7%

Value ($000) $23,569 (-19.9%) Shares 779,402 (-47.5%) Est. Cost $22.72 Unrealized +8.0%

PSBD PALMER SQUARE CAPITAL BDC IN 1.1%

Value ($000) $7,047 (-39.2%) Shares 558,394 (-38.9%) Est. Cost $13.55 Unrealized -12.7%

IBIT ISHARES BITCOIN TRUST ETF 1.2%

Value ($000) $7,806 (-33.9%) Shares 157,216 (-13.5%) Est. Cost $61.39 Unrealized —

IOT SAMSARA INC 1.7%

Value ($000) $10,877 (-25.9%) Shares 306,830 (-22.2%) Est. Cost $37.14 Unrealized +4.2%

ARLP ALLIANCE RESOURCE PARTNERS L 0.9%

Value ($000) $5,367 (-14.2%) Shares 231,025 (-6.6%) Est. Cost $17.14 Unrealized —

AAPL APPLE INC 2.1%

Value ($000) $13,261 (+5.6%) Shares 48,777 (-1.1%) Est. Cost $106.34 Unrealized +152.4%

IGV ISHARES TR 0.7%

Value ($000) $4,510 (-11.3%) Shares 42,676 (-3.5%) Est. Cost $97.93 Unrealized —

SLV ISHARES SILVER TR 0.2%

Value ($000) $1,183 (+37.1%) Shares 18,362 (-9.8%) Est. Cost $26.73 Unrealized —

BX BLACKSTONE INC 0.1%

Value ($000) $742 (-24.9%) Shares 4,813 (-16.8%) Est. Cost $121.31 Unrealized +24.9%

BLND BLEND LABS INC 0.0%

Value ($000) $102 (-67.5%) Shares 33,579 (-61.0%) Est. Cost $3.31 Unrealized -3.8%

AMZN AMAZON COM INC 1.3%

Value ($000) $7,912 (-1.7%) Shares 34,279 (-6.5%) Est. Cost $126.66 Unrealized +80.6%

GOOG ALPHABET INC 0.2%

Value ($000) $1,117 (+8.1%) Shares 3,559 (-16.1%) Est. Cost $117.54 Unrealized +143.6%

NVDA NVIDIA CORPORATION 0.4%

Value ($000) $2,759 (-1.7%) Shares 14,795 (-1.7%) Est. Cost $95.30 Unrealized +95.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CFLT	CONFLUENT INC	779,402 (-47.5%)	$23,569 (-19.9%)	3.7%	$22.72	+8.0%	CLASS A COM	20717M103
PSBD	PALMER SQUARE CAPITAL BDC IN	558,394 (-38.9%)	$7,047 (-39.2%)	1.1%	$13.55	-12.7%	COM SHS	69702V107
IBIT	ISHARES BITCOIN TRUST ETF	157,216 (-13.5%)	$7,806 (-33.9%)	1.2%	$61.39	—	SHS BEN INT	46438F101
IOT	SAMSARA INC	306,830 (-22.2%)	$10,877 (-25.9%)	1.7%	$37.14	+4.2%	COM CL A	79589L106
ARLP	ALLIANCE RESOURCE PARTNERS L	231,025 (-6.6%)	$5,367 (-14.2%)	0.9%	$17.14	—	UT LTD PART	01877R108
AAPL	APPLE INC	48,777 (-1.1%)	$13,261 (+5.6%)	2.1%	$106.34	+152.4%	COM	037833100
IGV	ISHARES TR	42,676 (-3.5%)	$4,510 (-11.3%)	0.7%	$97.93	—	EXPANDED TECH	464287515
SLV	ISHARES SILVER TR	18,362 (-9.8%)	$1,183 (+37.1%)	0.2%	$26.73	—	ISHARES	46428Q109
BX	BLACKSTONE INC	4,813 (-16.8%)	$742 (-24.9%)	0.1%	$121.31	+24.9%	COM	09260D107
BLND	BLEND LABS INC	33,579 (-61.0%)	$102 (-67.5%)	0.0%	$3.31	-3.8%	CL A	09352U108
AMZN	AMAZON COM INC	34,279 (-6.5%)	$7,912 (-1.7%)	1.3%	$126.66	+80.6%	COM	023135106
GOOG	ALPHABET INC	3,559 (-16.1%)	$1,117 (+8.1%)	0.2%	$117.54	+143.6%	CAP STK CL C	02079K107
NVDA	NVIDIA CORPORATION	14,795 (-1.7%)	$2,759 (-1.7%)	0.4%	$95.30	+95.3%	COM	67066G104

Unchanged Positions (34)

CIEN CIENA CORP 3.7%

Value ($000) $23,300 Shares 99,626 Est. Cost $71.74 Unrealized +170.4%

GOOGL ALPHABET INC 1.5%

Value ($000) $9,418 Shares 30,091 Est. Cost $109.12 Unrealized +161.7%

SPY SPDR S&P 500 ETF TR 3.5%

Value ($000) $21,835 Shares 31,925 Est. Cost $467.27 Unrealized —

MSFT MICROSOFT CORP 1.1%

Value ($000) $6,725 Shares 13,905 Est. Cost $207.74 Unrealized +141.0%

UBER UBER TECHNOLOGIES INC 0.2%

Value ($000) $1,052 Shares 12,874 Est. Cost $31.17 Unrealized +188.9%

ACIO ETF SER SOLUTIONS 6.6%

Value ($000) $41,265 Shares 944,286 Est. Cost $35.28 Unrealized —

SHOP SHOPIFY INC 0.2%

Value ($000) $1,288 Shares 8,000 Est. Cost $100.02 Unrealized +60.5%

META META PLATFORMS INC 0.1%

Value ($000) $838 Shares 1,269 Est. Cost $251.76 Unrealized +165.1%

CRM SALESFORCE INC 0.1%

Value ($000) $776 Shares 2,924 Est. Cost $175.18 Unrealized +41.7%

RTX RTX CORPORATION 0.1%

Value ($000) $856 Shares 4,669 Est. Cost $66.31 Unrealized +161.4%

EXTR EXTREME NETWORKS 0.0%

Value ($000) $310 Shares 18,600 Est. Cost $8.17 Unrealized +124.8%

QQQ INVESCO QQQ TR 0.3%

Value ($000) $2,167 Shares 3,526 Est. Cost $383.20 Unrealized —

TSLA TESLA INC 1.3%

Value ($000) $8,336 Shares 18,537 Est. Cost $231.07 Unrealized +91.8%

FDX FEDEX CORP 0.0%

Value ($000) $290 Shares 1,000 Est. Cost $190.64 Unrealized +37.2%

ULTA ULTA BEAUTY INC 0.1%

Value ($000) $477 Shares 788 Est. Cost $264.40 Unrealized +107.9%

RXRX RECURSION PHARMACEUTICALS IN 0.0%

Value ($000) $237 Shares 58,053 Est. Cost $15.23 Unrealized -67.5%

SO SOUTHERN CO 0.1%

Value ($000) $482 Shares 5,525 Est. Cost $34.64 Unrealized +162.4%

VIG VANGUARD SPECIALIZED FUNDS 0.3%

Value ($000) $1,679 Shares 7,641 Est. Cost $123.80 Unrealized —

AVGO BROADCOM INC 0.1%

Value ($000) $751 Shares 2,170 Est. Cost $152.92 Unrealized +133.5%

NOBL PROSHARES TR 0.3%

Value ($000) $1,634 Shares 15,705 Est. Cost $93.34 Unrealized —

UNH UNITEDHEALTH GROUP INC 0.1%

Value ($000) $554 Shares 1,677 Est. Cost $298.94 Unrealized +12.8%

CSM PROSHARES TR 0.1%

Value ($000) $526 Shares 6,600 Est. Cost $51.98 Unrealized —

APO APOLLO GLOBAL MGMT INC 0.0%

Value ($000) $241 Shares 1,665 Est. Cost $131.37 Unrealized +0.9%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.0%

Value ($000) $224 Shares 735 Est. Cost $280.11 Unrealized —

VTI VANGUARD INDEX FDS 0.1%

Value ($000) $826 Shares 2,463 Est. Cost $208.69 Unrealized —

GUNR FLEXSHARES TR 0.0%

Value ($000) $291 Shares 6,343 Est. Cost $40.29 Unrealized —

NSC NORFOLK SOUTHN CORP 0.1%

Value ($000) $323 Shares 1,120 Est. Cost $108.74 Unrealized +165.4%

ABBV ABBVIE INC 0.1%

Value ($000) $937 Shares 4,103 Est. Cost $59.59 Unrealized +281.8%

KO COCA COLA CO 0.0%

Value ($000) $280 Shares 4,000 Est. Cost $41.66 Unrealized +66.6%

KKR KKR & CO INC 0.0%

Value ($000) $242 Shares 1,899 Est. Cost $116.65 Unrealized +6.5%

CLOZ SERIES PORTFOLIOS TR 0.9%

Value ($000) $5,920 Shares 222,201 Est. Cost $26.78 Unrealized —

MCD MCDONALDS CORP 0.1%

Value ($000) $458 Shares 1,500 Est. Cost $136.11 Unrealized +124.2%

RDDT REDDIT INC 0.6%

Value ($000) $3,713 Shares 16,153 Est. Cost $61.82 Unrealized +240.2%

MA MASTERCARD INCORPORATED 0.0%

Value ($000) $257 Shares 450 Est. Cost $280.35 Unrealized +99.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CIEN	CIENA CORP	99,626	$23,300	3.7%	$71.74	+170.4%	COM NEW	171779309
GOOGL	ALPHABET INC	30,091	$9,418	1.5%	$109.12	+161.7%	CAP STK CL A	02079K305
SPY	SPDR S&P 500 ETF TR	31,925	$21,835	3.5%	$467.27	—	TR UNIT	78462F103
MSFT	MICROSOFT CORP	13,905	$6,725	1.1%	$207.74	+141.0%	COM	594918104
UBER	UBER TECHNOLOGIES INC	12,874	$1,052	0.2%	$31.17	+188.9%	COM	90353T100
ACIO	ETF SER SOLUTIONS	944,286	$41,265	6.6%	$35.28	—	APTUS COLLRD INV	26922A222
SHOP	SHOPIFY INC	8,000	$1,288	0.2%	$100.02	+60.5%	CL A SUB VTG SHS	82509L107
META	META PLATFORMS INC	1,269	$838	0.1%	$251.76	+165.1%	CL A	30303M102
CRM	SALESFORCE INC	2,924	$776	0.1%	$175.18	+41.7%	COM	79466L302
RTX	RTX CORPORATION	4,669	$856	0.1%	$66.31	+161.4%	COM	75513E101
EXTR	EXTREME NETWORKS	18,600	$310	0.0%	$8.17	+124.8%	COM	30226D106
QQQ	INVESCO QQQ TR	3,526	$2,167	0.3%	$383.20	—	UNIT SER 1	46090E103
TSLA	TESLA INC	18,537	$8,336	1.3%	$231.07	+91.8%	COM	88160R101
FDX	FEDEX CORP	1,000	$290	0.0%	$190.64	+37.2%	COM	31428X106
ULTA	ULTA BEAUTY INC	788	$477	0.1%	$264.40	+107.9%	COM	90384S303
RXRX	RECURSION PHARMACEUTICALS IN	58,053	$237	0.0%	$15.23	-67.5%	CL A	75629V104
SO	SOUTHERN CO	5,525	$482	0.1%	$34.64	+162.4%	COM	842587107
VIG	VANGUARD SPECIALIZED FUNDS	7,641	$1,679	0.3%	$123.80	—	DIV APP ETF	921908844
AVGO	BROADCOM INC	2,170	$751	0.1%	$152.92	+133.5%	COM	11135F101
NOBL	PROSHARES TR	15,705	$1,634	0.3%	$93.34	—	S&P 500 DV ARIST	74348A467
UNH	UNITEDHEALTH GROUP INC	1,677	$554	0.1%	$298.94	+12.8%	COM	91324P102
CSM	PROSHARES TR	6,600	$526	0.1%	$51.98	—	LARGE CAP CRE	74347R248
APO	APOLLO GLOBAL MGMT INC	1,665	$241	0.0%	$131.37	+0.9%	COM	03769M106
TSM	TAIWAN SEMICONDUCTOR MFG LTD	735	$224	0.0%	$280.11	—	SPONSORED ADS	874039100
VTI	VANGUARD INDEX FDS	2,463	$826	0.1%	$208.69	—	TOTAL STK MKT	922908769
GUNR	FLEXSHARES TR	6,343	$291	0.0%	$40.29	—	MORNSTAR UPSTR	33939L407
NSC	NORFOLK SOUTHN CORP	1,120	$323	0.1%	$108.74	+165.4%	COM	655844108
ABBV	ABBVIE INC	4,103	$937	0.1%	$59.59	+281.8%	COM	00287Y109
KO	COCA COLA CO	4,000	$280	0.0%	$41.66	+66.6%	COM	191216100
KKR	KKR & CO INC	1,899	$242	0.0%	$116.65	+6.5%	COM	48251W104
CLOZ	SERIES PORTFOLIOS TR	222,201	$5,920	0.9%	$26.78	—	ELDRIDGE BBB B	81752T528
MCD	MCDONALDS CORP	1,500	$458	0.1%	$136.11	+124.2%	COM	580135101
RDDT	REDDIT INC	16,153	$3,713	0.6%	$61.82	+240.2%	CL A	75734B100
MA	MASTERCARD INCORPORATED	450	$257	0.0%	$280.35	+99.4%	CL A	57636Q104