Freemont Management S.A. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TER	Teradyne, Inc.	106,000	$20,517	3.6%	$171.50	0.0%	Common Stock	880770102
WAT	Waters Corporation	41,600	$15,801	2.8%	$367.96	0.0%	Common Stock	941848103
WPM	Wheaton Precious Metals Corp.	90,000	$10,577	1.8%	$107.08	0.0%	Common Stock	962879102
GEV	GE Vernova Inc.	15,000	$9,804	1.7%	$609.04	0.0%	Common Stock	36828A101
MTSI	MACOM Technology Solutions Holdings, Inc.	57,000	$9,763	1.7%	$158.72	0.0%	Common Stock	55405Y100
LDOS	Leidos, Inc.	32,700	$5,899	1.0%	$189.10	0.0%	Common Stock	525327102
—	Tapestry, Inc.	45,000	$5,750	1.0%	—	—	CALL	876030907
BRBR	BellRing Brands, Inc.	193,200	$5,164	0.9%	$31.04	0.0%	Common Stock	07831C103
REGN	Regeneron Pharmaceuticals, Inc.	6,600	$5,094	0.9%	$678.68	0.0%	Common Stock	75886F107
CELH	Celsius Holdings, Inc.	99,800	$4,565	0.8%	$50.38	0.0%	Common Stock	15118V207
—	Jabil Inc.	20,000	$4,560	0.8%	—	—	CALL	466313903
—	L3Harris Technologies, Inc.	15,000	$4,404	0.8%	—	—	CALL	502431909
—	Chipotle Mexican Grill, Inc.	110,000	$4,070	0.7%	—	—	CALL	16965P902
—	Arista Networks, Inc.	30,000	$3,931	0.7%	—	—	CALL	040413905
TTE	TotalEnergies SE	60,000	$3,925	0.7%	$63.23	0.0%	Common Stock	F92124100
—	Celsius Holdings, Inc.	80,000	$3,659	0.6%	—	—	CALL	15118V907
CEG	Constellation Energy Corporation	9,800	$3,462	0.6%	$363.20	0.0%	Common Stock	21037T109
—	e.l.f. Beauty, Inc.	45,000	$3,422	0.6%	—	—	CALL	26856L903
ESE	ESCO Technologies Inc.	14,900	$2,911	0.5%	$210.72	0.0%	Common Stock	296315104
CMG	Chipotle Mexican Grill, Inc.	77,200	$2,856	0.5%	$36.17	0.0%	Common Stock	169656105
ISRG	Intuitive Surgical, Inc.	5,000	$2,832	0.5%	$532.37	0.0%	Common Stock	46120E602
AMBA	Ambarella, Inc.	38,589	$2,734	0.5%	$80.81	0.0%	Ordinary Shares	G037AX101
—	Fiserv, Inc.	40,000	$2,687	0.5%	—	—	CALL	337738908
PINS	Pinterest, Inc.	98,100	$2,540	0.4%	$28.79	0.0%	Class A Common Stock	72352L106
MTZ	MasTec, Inc.	11,000	$2,391	0.4%	$209.86	0.0%	Common Stock	576323109
KTOS	Kratos Defense & Security Solutions, Inc.	29,700	$2,255	0.4%	$81.87	0.0%	Common Stock	50077B207
GTLB	GitLab Inc.	45,000	$1,689	0.3%	$43.29	0.0%	Class A Common Stock	37637K108
SPXC	SPX Technologies, Inc.	8,000	$1,600	0.3%	$200.06	—	Common Stock	78473E103
GLW	Corning Incorporated	17,800	$1,559	0.3%	$85.98	0.0%	Common Stock	219350105
LEN	Lennar Corporation	15,000	$1,542	0.3%	$120.70	0.0%	Class A Common Stock	526057104
EME	EMCOR Group, Inc.	2,400	$1,468	0.3%	$647.50	0.0%	Common Stock	29084Q100

Increased Positions (80)

ANET Arista Networks, Inc. 6.5%

Value ($000) $36,990 (+528.4%) Shares 282,300 (+598.8%) Est. Cost $130.83 Unrealized +5.2%

NVDA NVIDIA Corporation 6.8%

Value ($000) $38,792 (+194.5%) Shares 208,000 (+194.6%) Est. Cost $161.83 Unrealized +15.0%

GOOGL Alphabet Inc. 4.1%

Value ($000) $23,256 (+1813.3%) Shares 74,300 (+1386.0%) Est. Cost $274.20 Unrealized +4.2%

ALAB Astera Labs, Inc. 3.2%

Value ($000) $18,616 (+574.3%) Shares 111,900 (+693.6%) Est. Cost $157.47 Unrealized +6.2%

AVGO Broadcom Inc. 3.1%

Value ($000) $17,686 (+655.0%) Shares 51,100 (+619.7%) Est. Cost $334.50 Unrealized +6.7%

— IQVIA Holdings Inc. 3.5%

Value ($000) $20,084 (+252.5%) Shares 89,100 (+197.0%) Est. Cost — Unrealized —

CDNS Cadence Design Systems, Inc. 2.7%

Value ($000) $15,629 (+846.7%) Shares 50,000 (+963.8%) Est. Cost $321.17 Unrealized +1.6%

FN Fabrinet 2.1%

Value ($000) $12,110 (+2667.8%) Shares 26,600 (+2116.7%) Est. Cost $425.28 Unrealized +2.3%

AAPL Apple Inc. 2.4%

Value ($000) $13,892 (+217.2%) Shares 51,100 (+197.1%) Est. Cost $228.17 Unrealized +17.6%

ADSK Autodesk, Inc. 2.3%

Value ($000) $13,202 (+177.1%) Shares 44,600 (+197.3%) Est. Cost $303.29 Unrealized -0.2%

MSFT Microsoft Corporation 2.2%

Value ($000) $12,622 (+176.9%) Shares 26,100 (+196.6%) Est. Cost $443.73 Unrealized +12.8%

TSLA Tesla, Inc. 1.8%

Value ($000) $10,434 (+200.8%) Shares 23,200 (+197.4%) Est. Cost $392.16 Unrealized +13.0%

META Meta Platforms, Inc. 1.4%

Value ($000) $7,855 (+167.4%) Shares 11,900 (+197.5%) Est. Cost $623.42 Unrealized +7.0%

ELF e.l.f. Beauty, Inc. 1.2%

Value ($000) $6,631 (+252.5%) Shares 87,200 (+514.1%) Est. Cost $98.30 Unrealized +0.1%

COHR Coherent Corp. 1.0%

Value ($000) $5,814 (+409.2%) Shares 31,500 (+197.2%) Est. Cost $126.18 Unrealized +18.5%

— Sempra 1.2%

Value ($000) $6,798 (+191.7%) Shares 77,000 (+197.3%) Est. Cost $88.86 Unrealized —

HUBS HubSpot, Inc. 0.8%

Value ($000) $4,816 (+328.9%) Shares 12,000 (+400.0%) Est. Cost $486.57 Unrealized -14.9%

LAZ Lazard, Inc. 1.0%

Value ($000) $5,643 (+173.4%) Shares 116,205 (+197.2%) Est. Cost $49.22 Unrealized +1.4%

AZO AutoZone, Inc. 1.1%

Value ($000) $6,105 (+137.2%) Shares 1,800 (+200.0%) Est. Cost $3747.25 Unrealized +0.8%

HPE Hewlett Packard Enterprise Company 0.9%

Value ($000) $5,217 (+190.6%) Shares 217,200 (+197.1%) Est. Cost $21.24 Unrealized +10.3%

FAST Fastenal Company 0.7%

Value ($000) $3,792 (+555.3%) Shares 94,500 (+700.8%) Est. Cost $41.79 Unrealized +0.6%

ECL Ecolab Inc. 0.8%

Value ($000) $4,830 (+184.5%) Shares 18,400 (+196.8%) Est. Cost $261.21 Unrealized +1.7%

BRK/B Berkshire Hathaway Inc. 0.8%

Value ($000) $4,474 (+196.6%) Shares 8,900 (+196.7%) Est. Cost $501.02 Unrealized -0.7%

HWM Howmet Aerospace Inc. 0.7%

Value ($000) $4,141 (+210.4%) Shares 20,200 (+197.1%) Est. Cost $176.78 Unrealized +12.6%

LHX L3Harris Technologies, Inc. 0.7%

Value ($000) $4,110 (+186.3%) Shares 14,000 (+197.9%) Est. Cost $267.82 Unrealized +7.7%

AMZN Amazon.com, Inc. 0.7%

Value ($000) $3,832 (+211.6%) Shares 16,600 (+196.4%) Est. Cost $205.17 Unrealized +11.5%

RTX RTX Corporation 0.6%

Value ($000) $3,485 (+225.4%) Shares 19,000 (+196.9%) Est. Cost $146.26 Unrealized +18.5%

ABBV AbbVie Inc. 0.5%

Value ($000) $2,582 (+1015.1%) Shares 11,300 (+1030.0%) Est. Cost $219.75 Unrealized +3.5%

VRTX Vertex Pharmaceuticals Incorporated 0.6%

Value ($000) $3,264 (+247.3%) Shares 7,200 (+200.0%) Est. Cost $422.96 Unrealized +1.9%

TFC Truist Financial Corporation 0.6%

Value ($000) $3,233 (+220.0%) Shares 65,700 (+197.3%) Est. Cost $44.02 Unrealized +4.0%

AMD Advanced Micro Devices, Inc. 0.5%

Value ($000) $2,934 (+294.2%) Shares 13,700 (+197.8%) Est. Cost $184.49 Unrealized +21.7%

APH Amphenol Corporation 0.5%

Value ($000) $3,095 (+224.8%) Shares 22,900 (+197.4%) Est. Cost $116.01 Unrealized +15.1%

HUBS HubSpot, Inc. 0.5%

Value ($000) $2,889 (+208.8%) Shares 7,200 (+260.0%) Est. Cost $486.57 Unrealized -14.9%

ACA Arcosa, Inc. 0.4%

Value ($000) $2,126 (+980.5%) Shares 20,000 (+852.4%) Est. Cost $97.09 Unrealized +3.9%

FCNCA First Citizens BancShares, Inc. 0.3%

Value ($000) $1,932 (+979.6%) Shares 900 (+800.0%) Est. Cost $1882.69 Unrealized +0.0%

ATI ATI Inc. 0.4%

Value ($000) $2,284 (+319.0%) Shares 19,900 (+197.0%) Est. Cost $84.17 Unrealized +15.8%

MSI Motorola Solutions, Inc. 0.5%

Value ($000) $2,875 (+151.5%) Shares 7,500 (+200.0%) Est. Cost $392.60 Unrealized +2.1%

WMB The Williams Companies, Inc. 0.4%

Value ($000) $2,501 (+181.9%) Shares 41,600 (+197.1%) Est. Cost $58.68 Unrealized +2.4%

CW Curtiss-Wright Corporation 0.4%

Value ($000) $2,150 (+204.6%) Shares 3,900 (+200.0%) Est. Cost $471.65 Unrealized +18.2%

TPR Tapestry, Inc. 0.4%

Value ($000) $2,006 (+234.3%) Shares 15,700 (+196.2%) Est. Cost $110.64 Unrealized +3.1%

TTWO Take-Two Interactive Software, Inc. 0.4%

Value ($000) $2,125 (+193.8%) Shares 8,300 (+196.4%) Est. Cost $234.63 Unrealized +6.3%

SYM Symbotic Inc. 0.3%

Value ($000) $1,981 (+228.2%) Shares 33,300 (+197.3%) Est. Cost $52.47 Unrealized +25.9%

ADI Analog Devices, Inc. 0.3%

Value ($000) $1,953 (+231.1%) Shares 7,200 (+200.0%) Est. Cost $235.76 Unrealized +6.3%

MLI Mueller Industries, Inc. 0.3%

Value ($000) $1,906 (+236.6%) Shares 16,600 (+196.4%) Est. Cost $101.99 Unrealized +5.3%

FLS Flowserve Corporation 0.3%

Value ($000) $1,748 (+287.1%) Shares 25,200 (+196.5%) Est. Cost $58.20 Unrealized +10.1%

ULS UL Solutions Inc. 0.3%

Value ($000) $1,711 (+230.8%) Shares 21,700 (+197.3%) Est. Cost $76.20 Unrealized +5.4%

AXON Axon Enterprise, Inc. 0.4%

Value ($000) $2,045 (+137.4%) Shares 3,600 (+200.0%) Est. Cost $614.75 Unrealized +0.9%

TRGP Targa Resources Corp. 0.3%

Value ($000) $1,697 (+226.8%) Shares 9,200 (+196.8%) Est. Cost $157.08 Unrealized +7.0%

BA The Boeing Company 0.3%

Value ($000) $1,498 (+201.8%) Shares 6,900 (+200.0%) Est. Cost $200.07 Unrealized +2.8%

NOW ServiceNow, Inc. 0.3%

Value ($000) $1,608 (+149.7%) Shares 10,500 (+1400.0%) Est. Cost $172.10 Unrealized -0.3%

VIK Viking Holdings Ltd 0.2%

Value ($000) $1,250 (+240.7%) Shares 17,500 (+196.6%) Est. Cost $57.18 Unrealized +11.6%

AVAV AeroVironment, Inc. 0.3%

Value ($000) $1,524 (+130.5%) Shares 6,300 (+200.0%) Est. Cost $268.79 Unrealized +17.0%

ABT Abbott Laboratories 0.2%

Value ($000) $1,341 (+178.0%) Shares 10,700 (+197.2%) Est. Cost $125.70 Unrealized +1.3%

WFC Wells Fargo & Company 0.2%

Value ($000) $1,221 (+231.0%) Shares 13,100 (+197.7%) Est. Cost $69.06 Unrealized +25.4%

DXCM DexCom, Inc. 0.2%

Value ($000) $1,181 (+192.6%) Shares 17,800 (+196.7%) Est. Cost $69.53 Unrealized -7.0%

LNG Cheniere Energy, Inc. 0.2%

Value ($000) $1,283 (+148.2%) Shares 6,600 (+200.0%) Est. Cost $192.21 Unrealized +9.2%

TOST Toast, Inc. 0.2%

Value ($000) $1,087 (+189.0%) Shares 30,600 (+197.1%) Est. Cost $37.14 Unrealized -2.9%

MELI MercadoLibre, Inc. 0.2%

Value ($000) $1,118 (+155.8%) Shares 555 (+196.8%) Est. Cost $2179.61 Unrealized -3.6%

JPM JPMorgan Chase & Co 0.2%

Value ($000) $967 (+206.5%) Shares 3,000 (+200.0%) Est. Cost $251.09 Unrealized +23.3%

WMT Walmart Inc. 0.2%

Value ($000) $925 (+220.4%) Shares 8,300 (+196.4%) Est. Cost $91.68 Unrealized +16.9%

EQIX Equinix, Inc. 0.1%

Value ($000) $690 (+780.4%) Shares 900 (+800.0%) Est. Cost $773.94 Unrealized +0.9%

VST Vistra Corp. 0.2%

Value ($000) $1,016 (+147.0%) Shares 6,300 (+200.0%) Est. Cost $170.73 Unrealized +6.6%

PWR Quanta Services, Inc. 0.2%

Value ($000) $886 (+205.5%) Shares 2,100 (+200.0%) Est. Cost $362.96 Unrealized +21.0%

BKR Baker Hughes Company 0.2%

Value ($000) $893 (+177.6%) Shares 19,600 (+197.0%) Est. Cost $41.71 Unrealized +13.5%

RCL Royal Caribbean Cruises Ltd. 0.2%

Value ($000) $920 (+158.6%) Shares 3,300 (+200.0%) Est. Cost $265.69 Unrealized +6.0%

MET MetLife, Inc. 0.2%

Value ($000) $868 (+184.9%) Shares 11,000 (+197.3%) Est. Cost $77.13 Unrealized +2.3%

BWXT BWX Technologies, Inc. 0.1%

Value ($000) $830 (+181.2%) Shares 4,800 (+200.0%) Est. Cost $157.35 Unrealized +19.1%

LYV Live Nation Entertainment, Inc 0.1%

Value ($000) $855 (+161.6%) Shares 6,000 (+200.0%) Est. Cost $141.41 Unrealized +1.6%

SPOT Spotify Technology S.A. 0.2%

Value ($000) $871 (+149.6%) Shares 1,500 (+200.0%) Est. Cost $609.80 Unrealized +2.5%

INTU Intuit Inc. 0.1%

Value ($000) $795 (+191.0%) Shares 1,200 (+200.0%) Est. Cost $579.60 Unrealized +14.0%

BSX Boston Scientific Corporation 0.1%

Value ($000) $791 (+189.5%) Shares 8,300 (+196.4%) Est. Cost $98.97 Unrealized -0.9%

FISV Fiserv, Inc. 0.3%

Value ($000) $1,458 (+54.9%) Shares 21,700 (+197.3%) Est. Cost $113.34 Unrealized -26.0%

GLNG Golar LNG Limited 0.1%

Value ($000) $774 (+173.6%) Shares 20,800 (+197.1%) Est. Cost $33.89 Unrealized +12.4%

PAAS Pan American Silver Corp. 0.1%

Value ($000) $648 (+298.1%) Shares 12,500 (+197.6%) Est. Cost $36.17 Unrealized +15.7%

TT Trane Technologies plc 0.1%

Value ($000) $701 (+176.7%) Shares 1,800 (+200.0%) Est. Cost $393.85 Unrealized +5.0%

TMUS T-MOBILE US, INC. 0.1%

Value ($000) $609 (+154.5%) Shares 3,000 (+200.0%) Est. Cost $192.88 Unrealized +9.6%

PGR The Progressive Corporation 0.1%

Value ($000) $478 (+176.6%) Shares 2,100 (+200.0%) Est. Cost $210.78 Unrealized +0.7%

MRVL Marvell Technology, Inc. 0.1%

Value ($000) $433 (+203.2%) Shares 5,100 (+200.0%) Est. Cost $78.20 Unrealized +11.8%

WSO Watsco, Inc. 0.1%

Value ($000) $404 (+150.0%) Shares 1,200 (+200.0%) Est. Cost $396.87 Unrealized -10.0%

V Visa Inc. 0.1%

Value ($000) $316 (+208.2%) Shares 900 (+200.0%) Est. Cost $306.73 Unrealized +11.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ANET	Arista Networks, Inc.	282,300 (+598.8%)	$36,990 (+528.4%)	6.5%	$130.83	+5.2%	Common Stock	040413205
NVDA	NVIDIA Corporation	208,000 (+194.6%)	$38,792 (+194.5%)	6.8%	$161.83	+15.0%	Common Stock	67066G104
GOOGL	Alphabet Inc.	74,300 (+1386.0%)	$23,256 (+1813.3%)	4.1%	$274.20	+4.2%	Class A Common Stock	02079K305
ALAB	Astera Labs, Inc.	111,900 (+693.6%)	$18,616 (+574.3%)	3.2%	$157.47	+6.2%	Common Stock	04626A103
AVGO	Broadcom Inc.	51,100 (+619.7%)	$17,686 (+655.0%)	3.1%	$334.50	+6.7%	Common Stock	11135F101
—	IQVIA Holdings Inc.	89,100 (+197.0%)	$20,084 (+252.5%)	3.5%	—	—	CALL	46266C905
CDNS	Cadence Design Systems, Inc.	50,000 (+963.8%)	$15,629 (+846.7%)	2.7%	$321.17	+1.6%	Common Shares	127387108
FN	Fabrinet	26,600 (+2116.7%)	$12,110 (+2667.8%)	2.1%	$425.28	+2.3%	Ordinary Shares	G3323L100
AAPL	Apple Inc.	51,100 (+197.1%)	$13,892 (+217.2%)	2.4%	$228.17	+17.6%	Common Stock	037833100
ADSK	Autodesk, Inc.	44,600 (+197.3%)	$13,202 (+177.1%)	2.3%	$303.29	-0.2%	Common Stock	052769106
MSFT	Microsoft Corporation	26,100 (+196.6%)	$12,622 (+176.9%)	2.2%	$443.73	+12.8%	Common Stock	594918104
TSLA	Tesla, Inc.	23,200 (+197.4%)	$10,434 (+200.8%)	1.8%	$392.16	+13.0%	Common Stock	88160R101
META	Meta Platforms, Inc.	11,900 (+197.5%)	$7,855 (+167.4%)	1.4%	$623.42	+7.0%	Class A Common Stock	30303M102
ELF	e.l.f. Beauty, Inc.	87,200 (+514.1%)	$6,631 (+252.5%)	1.2%	$98.30	+0.1%	Common Stock	26856L103
COHR	Coherent Corp.	31,500 (+197.2%)	$5,814 (+409.2%)	1.0%	$126.18	+18.5%	Common Stock	19247G107
—	Sempra	77,000 (+197.3%)	$6,798 (+191.7%)	1.2%	$88.86	—	Common Stock	816851909
HUBS	HubSpot, Inc.	12,000 (+400.0%)	$4,816 (+328.9%)	0.8%	$486.57	-14.9%	CALL	443573100
LAZ	Lazard, Inc.	116,205 (+197.2%)	$5,643 (+173.4%)	1.0%	$49.22	+1.4%	Common Stock	52110M109
AZO	AutoZone, Inc.	1,800 (+200.0%)	$6,105 (+137.2%)	1.1%	$3747.25	+0.8%	Common Stock	053332102
HPE	Hewlett Packard Enterprise Company	217,200 (+197.1%)	$5,217 (+190.6%)	0.9%	$21.24	+10.3%	Common Stock	42824C109
FAST	Fastenal Company	94,500 (+700.8%)	$3,792 (+555.3%)	0.7%	$41.79	+0.6%	Common Stock	311900104
ECL	Ecolab Inc.	18,400 (+196.8%)	$4,830 (+184.5%)	0.8%	$261.21	+1.7%	Common Stock	278865100
BRK/B	Berkshire Hathaway Inc.	8,900 (+196.7%)	$4,474 (+196.6%)	0.8%	$501.02	-0.7%	Class B Common Stock	084670702
HWM	Howmet Aerospace Inc.	20,200 (+197.1%)	$4,141 (+210.4%)	0.7%	$176.78	+12.6%	Common Stock	443201108
LHX	L3Harris Technologies, Inc.	14,000 (+197.9%)	$4,110 (+186.3%)	0.7%	$267.82	+7.7%	Common Stock	502431109
AMZN	Amazon.com, Inc.	16,600 (+196.4%)	$3,832 (+211.6%)	0.7%	$205.17	+11.5%	Common Stock	023135106
RTX	RTX Corporation	19,000 (+196.9%)	$3,485 (+225.4%)	0.6%	$146.26	+18.5%	Common Stock	75513E101
ABBV	AbbVie Inc.	11,300 (+1030.0%)	$2,582 (+1015.1%)	0.5%	$219.75	+3.5%	Common Stock	00287Y109
VRTX	Vertex Pharmaceuticals Incorporated	7,200 (+200.0%)	$3,264 (+247.3%)	0.6%	$422.96	+1.9%	Common Stock	92532F100
TFC	Truist Financial Corporation	65,700 (+197.3%)	$3,233 (+220.0%)	0.6%	$44.02	+4.0%	Common Stock	89832Q109
AMD	Advanced Micro Devices, Inc.	13,700 (+197.8%)	$2,934 (+294.2%)	0.5%	$184.49	+21.7%	Common Stock	007903107
APH	Amphenol Corporation	22,900 (+197.4%)	$3,095 (+224.8%)	0.5%	$116.01	+15.1%	Class A Common Stock	032095101
HUBS	HubSpot, Inc.	7,200 (+260.0%)	$2,889 (+208.8%)	0.5%	$486.57	-14.9%	Common Stock	443573100
ACA	Arcosa, Inc.	20,000 (+852.4%)	$2,126 (+980.5%)	0.4%	$97.09	+3.9%	Common Stock	039653100
FCNCA	First Citizens BancShares, Inc.	900 (+800.0%)	$1,932 (+979.6%)	0.3%	$1882.69	+0.0%	Class A Common Stock	31946M103
ATI	ATI Inc.	19,900 (+197.0%)	$2,284 (+319.0%)	0.4%	$84.17	+15.8%	Common Stock	01741R102
MSI	Motorola Solutions, Inc.	7,500 (+200.0%)	$2,875 (+151.5%)	0.5%	$392.60	+2.1%	Common Stock	620076307
WMB	The Williams Companies, Inc.	41,600 (+197.1%)	$2,501 (+181.9%)	0.4%	$58.68	+2.4%	Common Stock	969457100
CW	Curtiss-Wright Corporation	3,900 (+200.0%)	$2,150 (+204.6%)	0.4%	$471.65	+18.2%	Common Stock	231561101
TPR	Tapestry, Inc.	15,700 (+196.2%)	$2,006 (+234.3%)	0.4%	$110.64	+3.1%	Common Stock	876030107
TTWO	Take-Two Interactive Software, Inc.	8,300 (+196.4%)	$2,125 (+193.8%)	0.4%	$234.63	+6.3%	Common Stock	874054109
SYM	Symbotic Inc.	33,300 (+197.3%)	$1,981 (+228.2%)	0.3%	$52.47	+25.9%	Class A Common Stock	87151X101
ADI	Analog Devices, Inc.	7,200 (+200.0%)	$1,953 (+231.1%)	0.3%	$235.76	+6.3%	Common Stock	032654105
MLI	Mueller Industries, Inc.	16,600 (+196.4%)	$1,906 (+236.6%)	0.3%	$101.99	+5.3%	Common Stock	624756102
FLS	Flowserve Corporation	25,200 (+196.5%)	$1,748 (+287.1%)	0.3%	$58.20	+10.1%	Common Stock	34354P105
ULS	UL Solutions Inc.	21,700 (+197.3%)	$1,711 (+230.8%)	0.3%	$76.20	+5.4%	Class A Common Stock	903731107
AXON	Axon Enterprise, Inc.	3,600 (+200.0%)	$2,045 (+137.4%)	0.4%	$614.75	+0.9%	Common Stock	05464C101
TRGP	Targa Resources Corp.	9,200 (+196.8%)	$1,697 (+226.8%)	0.3%	$157.08	+7.0%	Common Stock	87612G101
BA	The Boeing Company	6,900 (+200.0%)	$1,498 (+201.8%)	0.3%	$200.07	+2.8%	Common Stock	097023105
NOW	ServiceNow, Inc.	10,500 (+1400.0%)	$1,608 (+149.7%)	0.3%	$172.10	-0.3%	Common Stock	81762P102
VIK	Viking Holdings Ltd	17,500 (+196.6%)	$1,250 (+240.7%)	0.2%	$57.18	+11.6%	Common Stock	G93A5A101
AVAV	AeroVironment, Inc.	6,300 (+200.0%)	$1,524 (+130.5%)	0.3%	$268.79	+17.0%	Common Stock	008073108
ABT	Abbott Laboratories	10,700 (+197.2%)	$1,341 (+178.0%)	0.2%	$125.70	+1.3%	Common Stock	002824100
WFC	Wells Fargo & Company	13,100 (+197.7%)	$1,221 (+231.0%)	0.2%	$69.06	+25.4%	Common Stock	949746101
DXCM	DexCom, Inc.	17,800 (+196.7%)	$1,181 (+192.6%)	0.2%	$69.53	-7.0%	Common Stock	252131107
LNG	Cheniere Energy, Inc.	6,600 (+200.0%)	$1,283 (+148.2%)	0.2%	$192.21	+9.2%	Common Stock	16411R208
TOST	Toast, Inc.	30,600 (+197.1%)	$1,087 (+189.0%)	0.2%	$37.14	-2.9%	Class A Common Stock	888787108
MELI	MercadoLibre, Inc.	555 (+196.8%)	$1,118 (+155.8%)	0.2%	$2179.61	-3.6%	Common Stock	58733R102
JPM	JPMorgan Chase & Co	3,000 (+200.0%)	$967 (+206.5%)	0.2%	$251.09	+23.3%	Common Stock	46625H100
WMT	Walmart Inc.	8,300 (+196.4%)	$925 (+220.4%)	0.2%	$91.68	+16.9%	Common Stock	931142103
EQIX	Equinix, Inc.	900 (+800.0%)	$690 (+780.4%)	0.1%	$773.94	+0.9%	Common Stock	29444U700
VST	Vistra Corp.	6,300 (+200.0%)	$1,016 (+147.0%)	0.2%	$170.73	+6.6%	Common Stock	92840M102
PWR	Quanta Services, Inc.	2,100 (+200.0%)	$886 (+205.5%)	0.2%	$362.96	+21.0%	Common Stock	74762E102
BKR	Baker Hughes Company	19,600 (+197.0%)	$893 (+177.6%)	0.2%	$41.71	+13.5%	Class A Common Stock	05722G100
RCL	Royal Caribbean Cruises Ltd.	3,300 (+200.0%)	$920 (+158.6%)	0.2%	$265.69	+6.0%	Common Stock	V7780T103
MET	MetLife, Inc.	11,000 (+197.3%)	$868 (+184.9%)	0.2%	$77.13	+2.3%	Common Stock	59156R108
BWXT	BWX Technologies, Inc.	4,800 (+200.0%)	$830 (+181.2%)	0.1%	$157.35	+19.1%	Common Stock	05605H100
LYV	Live Nation Entertainment, Inc	6,000 (+200.0%)	$855 (+161.6%)	0.1%	$141.41	+1.6%	Common Stock	538034109
SPOT	Spotify Technology S.A.	1,500 (+200.0%)	$871 (+149.6%)	0.2%	$609.80	+2.5%	Common Stock	L8681T102
INTU	Intuit Inc.	1,200 (+200.0%)	$795 (+191.0%)	0.1%	$579.60	+14.0%	Common Stock	461202103
BSX	Boston Scientific Corporation	8,300 (+196.4%)	$791 (+189.5%)	0.1%	$98.97	-0.9%	Common Stock	101137107
FISV	Fiserv, Inc.	21,700 (+197.3%)	$1,458 (+54.9%)	0.3%	$113.34	-26.0%	Common Stock	337738108
GLNG	Golar LNG Limited	20,800 (+197.1%)	$774 (+173.6%)	0.1%	$33.89	+12.4%	Common Shares	G9456A100
PAAS	Pan American Silver Corp.	12,500 (+197.6%)	$648 (+298.1%)	0.1%	$36.17	+15.7%	Common Stock	697900108
TT	Trane Technologies plc	1,800 (+200.0%)	$701 (+176.7%)	0.1%	$393.85	+5.0%	Ordinary Shares	G8994E103
TMUS	T-MOBILE US, INC.	3,000 (+200.0%)	$609 (+154.5%)	0.1%	$192.88	+9.6%	Common Stock	872590104
PGR	The Progressive Corporation	2,100 (+200.0%)	$478 (+176.6%)	0.1%	$210.78	+0.7%	Common Shares	743315103
MRVL	Marvell Technology, Inc.	5,100 (+200.0%)	$433 (+203.2%)	0.1%	$78.20	+11.8%	Common Stock	573874104
WSO	Watsco, Inc.	1,200 (+200.0%)	$404 (+150.0%)	0.1%	$396.87	-10.0%	Common stock	942622200
V	Visa Inc.	900 (+200.0%)	$316 (+208.2%)	0.1%	$306.73	+11.0%	Class A Common Stock	92826C839

Exited Positions (16)

— Atlassian Corporation 1.5%

Value ($000) $8,784 Shares 55,000 Est. Cost — Unrealized —

— Brunswick Corporation 1.0%

Value ($000) $5,692 Shares 90,000 Est. Cost — Unrealized —

ANET Arista Networks, Inc. 0.9%

Value ($000) $4,954 Shares 34,000 Est. Cost $130.83 Unrealized +5.2%

NVDA NVIDIA Corporation 0.8%

Value ($000) $4,478 Shares 24,000 Est. Cost $161.83 Unrealized +15.0%

CDNS Cadence Design Systems, Inc. 0.7%

Value ($000) $4,215 Shares 12,000 Est. Cost $321.17 Unrealized +1.6%

WAT Waters Corporation 0.7%

Value ($000) $4,197 Shares 14,000 Est. Cost $367.96 Unrealized 0.0%

LEN Lennar Corporation 0.7%

Value ($000) $3,781 Shares 30,000 Est. Cost $120.70 Unrealized 0.0%

VRTX Vertex Pharmaceuticals Incorporated 0.4%

Value ($000) $2,037 Shares 5,200 Est. Cost $422.96 Unrealized +1.9%

FAST Fastenal Company 0.3%

Value ($000) $1,962 Shares 40,000 Est. Cost $41.79 Unrealized +0.6%

VRT Vertiv Holdings Co 0.2%

Value ($000) $1,418 Shares 9,400 Est. Cost $80.82 Unrealized +114.8%

— UnitedHealth Group Incorporated 0.2%

Value ($000) $1,381 Shares 4,000 Est. Cost — Unrealized —

STZ Constellation Brands, Inc. 0.2%

Value ($000) $1,086 Shares 3,300 Est. Cost $208.67 Unrealized -34.4%

KNF Knife River Corporation 0.2%

Value ($000) $907 Shares 11,800 Est. Cost $91.06 Unrealized -22.9%

— MasTec, Inc. 0.1%

Value ($000) $787 Shares 3,700 Est. Cost $170.43 Unrealized —

NRG NRG Energy, Inc. 0.0%

Value ($000) $194 Shares 1,195 Est. Cost $130.97 Unrealized +26.2%

FTAI FTAI Aviation Ltd. 0.0%

Value ($000) $33 Shares 200 Est. Cost $111.23 Unrealized +53.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Atlassian Corporation	55,000	$8,784	1.5%	—	—	CALL	049468901
—	Brunswick Corporation	90,000	$5,692	1.0%	—	—	CALL	117043909
ANET	Arista Networks, Inc.	34,000	$4,954	0.9%	$130.83	+5.2%	CALL	040413205
NVDA	NVIDIA Corporation	24,000	$4,478	0.8%	$161.83	+15.0%	CALL	67066G104
CDNS	Cadence Design Systems, Inc.	12,000	$4,215	0.7%	$321.17	+1.6%	CALL	127387108
WAT	Waters Corporation	14,000	$4,197	0.7%	$367.96	0.0%	CALL	941848103
LEN	Lennar Corporation	30,000	$3,781	0.7%	$120.70	0.0%	CALL	526057104
VRTX	Vertex Pharmaceuticals Incorporated	5,200	$2,037	0.4%	$422.96	+1.9%	CALL	92532F100
FAST	Fastenal Company	40,000	$1,962	0.3%	$41.79	+0.6%	CALL	311900104
VRT	Vertiv Holdings Co	9,400	$1,418	0.2%	$80.82	+114.8%	—	92537N108
—	UnitedHealth Group Incorporated	4,000	$1,381	0.2%	—	—	CALL	91324P902
STZ	Constellation Brands, Inc.	3,300	$1,086	0.2%	$208.67	-34.4%	—	21036P108
KNF	Knife River Corporation	11,800	$907	0.2%	$91.06	-22.9%	—	498894104
—	MasTec, Inc.	3,700	$787	0.1%	$170.43	—	—	576323909
NRG	NRG Energy, Inc.	1,195	$194	0.0%	$130.97	+26.2%	—	629377508
FTAI	FTAI Aviation Ltd.	200	$33	0.0%	$111.23	+53.1%	—	G3730V105

Decreased Positions (5)

— ASML Holding N.V. 1.1%

Value ($000) $6,419 (-69.9%) Shares 6,000 (-72.7%) Est. Cost — Unrealized —

GDXJ VanEck Junior Gold Miners ETF 0.8%

Value ($000) $4,551 (-48.9%) Shares 40,000 (-55.6%) Est. Cost $48.11 Unrealized —

GDX VanEck Gold Miners ETF 0.9%

Value ($000) $5,146 (-43.9%) Shares 60,000 (-50.0%) Est. Cost $46.30 Unrealized —

B Barrick Mining Corporation 0.4%

Value ($000) $2,147 (-38.5%) Shares 49,300 (-53.8%) Est. Cost $19.29 Unrealized +94.0%

AA Alcoa Corporation 0.5%

Value ($000) $2,657 (+7.7%) Shares 50,000 (-33.3%) Est. Cost $44.73 Unrealized -8.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ASML Holding N.V.	6,000 (-72.7%)	$6,419 (-69.9%)	1.1%	—	—	CALL	N07059900
GDXJ	VanEck Junior Gold Miners ETF	40,000 (-55.6%)	$4,551 (-48.9%)	0.8%	$48.11	—	Exchange Traded Products	92189F791
GDX	VanEck Gold Miners ETF	60,000 (-50.0%)	$5,146 (-43.9%)	0.9%	$46.30	—	Exchange Traded Products	92189F106
B	Barrick Mining Corporation	49,300 (-53.8%)	$2,147 (-38.5%)	0.4%	$19.29	+94.0%	Common Shares	06849F108
AA	Alcoa Corporation	50,000 (-33.3%)	$2,657 (+7.7%)	0.5%	$44.73	-8.6%	Common Stock	013872106

Unchanged Positions (5)

— BellRing Brands, Inc. 0.3%

Value ($000) $1,604 Shares 60,000 Est. Cost — Unrealized —

FCX Freeport-McMoRan, Inc. 0.3%

Value ($000) $1,524 Shares 30,000 Est. Cost $37.74 Unrealized +14.8%

URA Global X Uranium 0.5%

Value ($000) $2,991 Shares 70,000 Est. Cost $21.46 Unrealized —

REMX Vaneck Rare Earth/Strategic Metals ETF 0.4%

Value ($000) $2,210 Shares 29,899 Est. Cost $61.99 Unrealized —

BLDP Ballard Power Systems, Inc. 0.0%

Value ($000) $76 Shares 30,000 Est. Cost $8.66 Unrealized -64.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	BellRing Brands, Inc.	60,000	$1,604	0.3%	—	—	CALL	07831C903
FCX	Freeport-McMoRan, Inc.	30,000	$1,524	0.3%	$37.74	+14.8%	Common Stock	35671D857
URA	Global X Uranium	70,000	$2,991	0.5%	$21.46	—	Exchange Traded Products	37954Y871
REMX	Vaneck Rare Earth/Strategic Metals ETF	29,899	$2,210	0.4%	$61.99	—	Exchange Traded Products	92189H805
BLDP	Ballard Power Systems, Inc.	30,000	$76	0.0%	$8.66	-64.2%	Common Shares	058586108