Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CCL	CARNIVAL CORP LTD	43,000	$1.229M	0.7%	$28.57	—	COMMON SHARES	G2004J103
WDC	WESTERN DIGITAL CORP	1,850	$1.182M	0.7%	$638.72	—	COM	958102105
GEV	GE VERNOVA INC	550	$646K	0.4%	$1174.86	—	COM	36828A101
VLO	VALERO ENERGY CORP	2,000	$521K	0.3%	$260.44	—	COM	91913Y100
LITE	LUMENTUM HLDGS INC	550	$472K	0.3%	$858.06	—	COM	55024U109
CIEN	CIENA CORP	950	$466K	0.3%	$490.56	—	COM NEW	171779309
ALB	ALBEMARLE CORP	2,500	$338K	0.2%	$135.03	—	COM	012653101
DXC	DXC TECHNOLOGY CO	28,000	$248K	0.1%	$8.85	—	COM	23355L106
MPC	MARATHON PETE CORP	950	$243K	0.1%	$255.67	—	COM	56585A102
SEI	SOLARIS ENERGY INFRAS INC	3,000	$241K	0.1%	$80.46	—	COM CL A	83418M103
PM	PHILIP MORRIS INTL INC	1,200	$217K	0.1%	$180.91	—	COM	718172109

Increased Positions (3)

NVDA NVIDIA CORPORATION 0.7%

Value $1.201M (+37.7%) Shares 6,000 (+20.0%) Est. Cost $134.47 Unrealized —

EXE EXPAND ENERGY CORPORATION 0.2%

Value $412K (+87.7%) Shares 4,520 (+126.0%) Est. Cost $97.65 Unrealized —

ZM ZOOM COMMUNICATIONS INC 0.5%

Value $924K (+9.4%) Shares 10,700 (+1.9%) Est. Cost $84.28 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	6,000 (+20.0%)	$1.201M (+37.7%)	0.7%	$134.47	—	COM	67066G104
EXE	EXPAND ENERGY CORPORATION	4,520 (+126.0%)	$412K (+87.7%)	0.2%	$97.65	—	COM	165167735
ZM	ZOOM COMMUNICATIONS INC	10,700 (+1.9%)	$924K (+9.4%)	0.5%	$84.28	—	CL A	98980L101

Exited Positions (8)

CCL CARNIVAL CORP 0.6%

Value $1.113M Shares 43,000 Est. Cost $30.44 Unrealized —

FCX FREEPORT MCMORAN INC 0.3%

Value $588K Shares 10,000 Est. Cost $61.12 Unrealized —

APH AMPHENOL CORP 0.3%

Value $510K Shares 4,040 Est. Cost $109.40 Unrealized —

LRCX LAM RESEARCH CORP 0.3%

Value $470K Shares 2,200 Est. Cost $225.94 Unrealized —

TER TERADYNE INC 0.2%

Value $296K Shares 1,000 Est. Cost $265.87 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.2%

Value $285K Shares 1,950 Est. Cost $166.44 Unrealized —

NEM NEWMONT CORP 0.2%

Value $271K Shares 2,500 Est. Cost $118.12 Unrealized —

BRO BROWN & BROWN INC 0.1%

Value $202K Shares 3,100 Est. Cost $97.18 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CCL	CARNIVAL CORP	43,000	$1.113M	0.6%	$30.44	—	—	143658300
FCX	FREEPORT MCMORAN INC	10,000	$588K	0.3%	$61.12	—	—	35671D857
APH	AMPHENOL CORP	4,040	$510K	0.3%	$109.40	—	—	032095101
LRCX	LAM RESEARCH CORP	2,200	$470K	0.3%	$225.94	—	—	512807306
TER	TERADYNE INC	1,000	$296K	0.2%	$265.87	—	—	880770102
PLTR	PALANTIR TECHNOLOGIES INC	1,950	$285K	0.2%	$166.44	—	—	69608A108
NEM	NEWMONT CORP	2,500	$271K	0.2%	$118.12	—	—	651639106
BRO	BROWN & BROWN INC	3,100	$202K	0.1%	$97.18	—	—	115236101

Decreased Positions (11)

MU MICRON TECHNOLOGY INC 38.7%

Value $67.58M (+225.0%) Shares 58,550 (-4.9%) Est. Cost $67.27 Unrealized —

BE BLOOM ENERGY CORP 5.1%

Value $8.99M (+121.2%) Shares 29,700 (-1.0%) Est. Cost $19.36 Unrealized —

TROX TRONOX HOLDINGS PLC 1.3%

Value $2.345M (-38.8%) Shares 372,300 (-5.1%) Est. Cost $4.60 Unrealized —

VZ VERIZON COMMUNICATIONS INC 3.4%

Value $5.928M (-16.7%) Shares 140,000 (-1.3%) Est. Cost $31.34 Unrealized —

QCOM QUALCOMM INC 2.1%

Value $3.603M (+42.0%) Shares 19,500 (-1.0%) Est. Cost $113.84 Unrealized —

NTR NUTRIEN LTD 1.6%

Value $2.803M (-17.5%) Shares 44,525 (-1.1%) Est. Cost $36.23 Unrealized —

AES AES CORP 0.8%

Value $1.466M (-18.1%) Shares 100,000 (-21.3%) Est. Cost $13.70 Unrealized —

GOOG ALPHABET INC 1.3%

Value $2.208M (+16.6%) Shares 6,250 (-5.3%) Est. Cost $142.04 Unrealized —

FLNC FLUENCE ENERGY INC 0.6%

Value $974K (+41.6%) Shares 49,000 (-2.0%) Est. Cost $15.69 Unrealized —

FLKR FRANKLIN TEMPLETON ETF TR 0.4%

Value $681K (+62.6%) Shares 10,300 (-1.9%) Est. Cost $39.87 Unrealized —

UBS UBS GROUP AG 0.3%

Value $446K (+14.2%) Shares 9,000 (-10.0%) Est. Cost $20.56 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	58,550 (-4.9%)	$67.58M (+225.0%)	38.7%	$67.27	—	COM	595112103
BE	BLOOM ENERGY CORP	29,700 (-1.0%)	$8.99M (+121.2%)	5.1%	$19.36	—	COM CL A	093712107
TROX	TRONOX HOLDINGS PLC	372,300 (-5.1%)	$2.345M (-38.8%)	1.3%	$4.60	—	SHS	G9087Q102
VZ	VERIZON COMMUNICATIONS INC	140,000 (-1.3%)	$5.928M (-16.7%)	3.4%	$31.34	—	COM	92343V104
QCOM	QUALCOMM INC	19,500 (-1.0%)	$3.603M (+42.0%)	2.1%	$113.84	—	COM	747525103
NTR	NUTRIEN LTD	44,525 (-1.1%)	$2.803M (-17.5%)	1.6%	$36.23	—	COM	67077M108
AES	AES CORP	100,000 (-21.3%)	$1.466M (-18.1%)	0.8%	$13.70	—	COM	00130H105
GOOG	ALPHABET INC	6,250 (-5.3%)	$2.208M (+16.6%)	1.3%	$142.04	—	CAP STK CL C	02079K107
FLNC	FLUENCE ENERGY INC	49,000 (-2.0%)	$974K (+41.6%)	0.6%	$15.69	—	COM CL A	34379V103
FLKR	FRANKLIN TEMPLETON ETF TR	10,300 (-1.9%)	$681K (+62.6%)	0.4%	$39.87	—	FTSE SOUTH KOREA	35473P710
UBS	UBS GROUP AG	9,000 (-10.0%)	$446K (+14.2%)	0.3%	$20.56	—	SHS	H42097107

Unchanged Positions (17)

TSM TAIWAN SEMICONDUCTOR MANUFAC 14.5%

Value $25.31M Shares 53,000 Est. Cost $97.65 Unrealized —

GOOGL ALPHABET INC 5.9%

Value $10.36M Shares 29,000 Est. Cost $123.25 Unrealized —

FSLR FIRST SOLAR INC 3.5%

Value $6.064M Shares 25,700 Est. Cost $161.88 Unrealized —

STX SEAGATE TECHNOLOGY HLDNGS PL 0.7%

Value $1.206M Shares 1,250 Est. Cost $376.45 Unrealized —

AMZN AMAZON COM INC 2.9%

Value $5.005M Shares 21,000 Est. Cost $137.28 Unrealized —

WBD WARNER BROS DISCOVERY INC 7.7%

Value $13.46M Shares 504,700 Est. Cost $12.77 Unrealized —

ALK ALASKA AIR GROUP INC 0.4%

Value $783K Shares 15,000 Est. Cost $50.41 Unrealized —

LUMN LUMEN TECHNOLOGIES INC 1.2%

Value $2.112M Shares 274,980 Est. Cost $6.03 Unrealized —

LUV SOUTHWEST AIRLS CO 0.3%

Value $522K Shares 10,150 Est. Cost $47.34 Unrealized —

CHTR CHARTER COMMUNICATIONS INC 0.1%

Value $228K Shares 1,600 Est. Cost $302.19 Unrealized —

FIX COMFORT SYS USA INC 0.2%

Value $347K Shares 175 Est. Cost $1196.06 Unrealized —

NFLX NETFLIX INC. 0.2%

Value $293K Shares 4,100 Est. Cost $109.23 Unrealized —

XIFR XPLR INFRASTRUCTURE LP 0.3%

Value $472K Shares 40,000 Est. Cost $10.68 Unrealized —

META META PLATFORMS INC 1.4%

Value $2.422M Shares 4,300 Est. Cost $130.14 Unrealized —

CC CHEMOURS CO 0.1%

Value $205K Shares 10,000 Est. Cost $12.79 Unrealized —

CCJ CAMECO CORP 0.1%

Value $204K Shares 2,000 Est. Cost $116.28 Unrealized —

PG PROCTER & GAMBLE CO 0.2%

Value $264K Shares 1,800 Est. Cost $160.77 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	53,000	$25.31M	14.5%	$97.65	—	SPONSORED ADS	874039100
GOOGL	ALPHABET INC	29,000	$10.36M	5.9%	$123.25	—	CAP STK CL A	02079K305
FSLR	FIRST SOLAR INC	25,700	$6.064M	3.5%	$161.88	—	COM	336433107
STX	SEAGATE TECHNOLOGY HLDNGS PL	1,250	$1.206M	0.7%	$376.45	—	ORD SHS	G7997R103
AMZN	AMAZON COM INC	21,000	$5.005M	2.9%	$137.28	—	COM	023135106
WBD	WARNER BROS DISCOVERY INC	504,700	$13.46M	7.7%	$12.77	—	COM SER A	934423104
ALK	ALASKA AIR GROUP INC	15,000	$783K	0.4%	$50.41	—	COM	011659109
LUMN	LUMEN TECHNOLOGIES INC	274,980	$2.112M	1.2%	$6.03	—	COM	550241103
LUV	SOUTHWEST AIRLS CO	10,150	$522K	0.3%	$47.34	—	COM	844741108
CHTR	CHARTER COMMUNICATIONS INC	1,600	$228K	0.1%	$302.19	—	CL A	16119P108
FIX	COMFORT SYS USA INC	175	$347K	0.2%	$1196.06	—	COM	199908104
NFLX	NETFLIX INC.	4,100	$293K	0.2%	$109.23	—	COM	64110L106
XIFR	XPLR INFRASTRUCTURE LP	40,000	$472K	0.3%	$10.68	—	COM UNIT PART IN	65341B106
META	META PLATFORMS INC	4,300	$2.422M	1.4%	$130.14	—	CL A	30303M102
CC	CHEMOURS CO	10,000	$205K	0.1%	$12.79	—	COM	163851108
CCJ	CAMECO CORP	2,000	$204K	0.1%	$116.28	—	COM	13321L108
PG	PROCTER & GAMBLE CO	1,800	$264K	0.2%	$160.77	—	COM	742718109