Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DB	DEUTSCHE BANK AG	565,061	$19.13M	6.9%	$33.86	—	STOCK	D18190898
IFF	INTERNATIONAL FLAVORS AND FRAGRA	185,402	$16.79M	6.1%	$90.55	—	STOCK	459506101
PANW	PALO ALTO NETWORKS INC	27,400	$10.68M	3.9%	$389.77	—	STOCK	697435105
FIG	FIGMA INC	430,581	$8.903M	3.2%	$20.68	—	STOCK	316841105
TTWO	TAKE-TWO INTERACTIVE SOFTWARE	28,748	$8.214M	3.0%	$285.72	—	STOCK	874054109
ABNB	AIRBNB INC	46,200	$7.556M	2.7%	$163.56	—	STOCK	009066101
ZS	ZSCALER INC	28,963	$4.673M	1.7%	$161.33	—	STOCK	98980G102
CRM	SALESFORCE INC	23,841	$4.269M	1.5%	$179.06	—	STOCK	79466L302

Increased Positions (4)

SNOW SNOWFLAKE INC 5.4%

Value $15.01M (+309.6%) Shares 51,595 (+144.6%) Est. Cost $270.70 Unrealized —

GWRE GUIDEWIRE SOFTWARE INC 1.5%

Value $4.274M (+2290.5%) Shares 30,390 (+2827.7%) Est. Cost $140.97 Unrealized —

SHOP SHOPIFY INC 3.7%

Value $10.22M (+1.5%) Shares 78,325 (+6.2%) Est. Cost $136.10 Unrealized —

LOGI LOGITECH INTERNATIONAL SA 0.0%

Value $125K (+29.2%) Shares 1,441 (+24.3%) Est. Cost $99.82 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SNOW	SNOWFLAKE INC	51,595 (+144.6%)	$15.01M (+309.6%)	5.4%	$270.70	—	STOCK	833445109
GWRE	GUIDEWIRE SOFTWARE INC	30,390 (+2827.7%)	$4.274M (+2290.5%)	1.5%	$140.97	—	STOCK	40171V100
SHOP	SHOPIFY INC	78,325 (+6.2%)	$10.22M (+1.5%)	3.7%	$136.10	—	STOCK	82509L107
LOGI	LOGITECH INTERNATIONAL SA	1,441 (+24.3%)	$125K (+29.2%)	0.0%	$99.82	—	STOCK	H50430232

Exited Positions (12)

LIN LINDE PLC 10.6%

Value $29.32M Shares 51,358 Est. Cost $427.28 Unrealized —

NFLX NETFLIX INC 6.4%

Value $17.75M Shares 160,313 Est. Cost $106.73 Unrealized —

QXO QXO INC 3.8%

Value $10.62M Shares 475,031 Est. Cost $24.14 Unrealized —

STLA STELLANTIS NV 3.6%

Value $9.845M Shares 1,408,564 Est. Cost $5516.93 Unrealized —

BSX BOSTON SCIENTIFIC CORP 2.3%

Value $6.446M Shares 89,197 Est. Cost $85.82 Unrealized —

BIRK BIRKENSTOCK HOLDING PLC 2.3%

Value $6.314M Shares 153,015 Est. Cost $42.35 Unrealized —

MDB MONGODB INC 2.2%

Value $6.213M Shares 22,041 Est. Cost $363.53 Unrealized —

HUBS HUBSPOT INC 1.2%

Value $3.414M Shares 12,144 Est. Cost $291.68 Unrealized —

TEAM ATLASSIAN CORP 0.8%

Value $2.118M Shares 26,943 Est. Cost $161.54 Unrealized —

NOW SERVICENOW INC 0.7%

Value $1.92M Shares 15,947 Est. Cost $171.75 Unrealized —

BKNG BOOKING HOLDINGS INC 0.0%

Value $48,490 Shares 10 Est. Cost $5137.84 Unrealized —

PCOR PROCORE TECHNOLOGIES, INC. 0.0%

Value $3,871 Shares 59 Est. Cost $65.31 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LIN	LINDE PLC	51,358	$29.32M	10.6%	$427.28	—	—	G54950103
NFLX	NETFLIX INC	160,313	$17.75M	6.4%	$106.73	—	—	64110L106
QXO	QXO INC	475,031	$10.62M	3.8%	$24.14	—	—	82846H405
STLA	STELLANTIS NV	1,408,564	$9.845M	3.6%	$5516.93	—	—	N82405106
BSX	BOSTON SCIENTIFIC CORP	89,197	$6.446M	2.3%	$85.82	—	—	101137107
BIRK	BIRKENSTOCK HOLDING PLC	153,015	$6.314M	2.3%	$42.35	—	—	M2029K104
MDB	MONGODB INC	22,041	$6.213M	2.2%	$363.53	—	—	60937P106
HUBS	HUBSPOT INC	12,144	$3.414M	1.2%	$291.68	—	—	443573100
TEAM	ATLASSIAN CORP	26,943	$2.118M	0.8%	$161.54	—	—	049468101
NOW	SERVICENOW INC	15,947	$1.92M	0.7%	$171.75	—	—	81762P102
BKNG	BOOKING HOLDINGS INC	10	$48,490	0.0%	$5137.84	—	—	09857L108
PCOR	PROCORE TECHNOLOGIES, INC.	59	$3,871	0.0%	$65.31	—	—	74275K108

Decreased Positions (16)

UBS UBS GROUP AG 3.0%

Value $8.276M (-87.6%) Shares 180,748 (-90.4%) Est. Cost $40.20 Unrealized —

CRH CRH PLC 3.1%

Value $8.441M (-75.0%) Shares 69,018 (-75.3%) Est. Cost $99.15 Unrealized —

META FACEBOOK INC 4.1%

Value $11.43M (-66.2%) Shares 17,759 (-65.4%) Est. Cost $655.57 Unrealized —

AMZN AMAZON.COM INC 3.8%

Value $10.43M (-66.6%) Shares 38,276 (-70.6%) Est. Cost $227.98 Unrealized —

AMRZ AMRIZE LTD 2.3%

Value $6.348M (-76.0%) Shares 129,703 (-75.4%) Est. Cost $57.11 Unrealized —

AZN ASTRAZENECA PLC 6.4%

Value $17.69M (-53.0%) Shares 109,781 (-50.7%) Est. Cost $190.39 Unrealized —

DASH DOORDASH INC 3.9%

Value $10.66M (-52.1%) Shares 50,522 (-60.7%) Est. Cost $208.42 Unrealized —

FER FERROVIAL SE 9.1%

Value $25.23M (-28.3%) Shares 368,047 (-33.3%) Est. Cost $53.78 Unrealized —

SW SMURFIT WESTROCK PLC 10.7%

Value $29.54M (-23.1%) Shares 558,692 (-33.2%) Est. Cost $43.92 Unrealized —

INTU INTUIT INC 0.0%

Value $13,720 (-99.8%) Shares 46 (-99.7%) Est. Cost $509.58 Unrealized —

SPOT SPOTIFY TECHNOLOGY SA 7.9%

Value $21.78M (-23.4%) Shares 41,511 (-18.5%) Est. Cost $495.03 Unrealized —

ACN ACCENTURE PLC 0.0%

Value $105K (-97.0%) Shares 736 (-95.2%) Est. Cost $253.23 Unrealized —

DDOG DATADOG INC 4.4%

Value $12.12M (+19.9%) Shares 40,740 (-45.2%) Est. Cost $123.93 Unrealized —

TTE TOTALENERGIES SE 0.1%

Value $164K (-87.5%) Shares 2,115 (-85.0%) Est. Cost $69.11 Unrealized —

CRWD CROWDSTRIKE HOLDINGS INC 1.6%

Value $4.545M (+8.9%) Shares 5,211 (-43.9%) Est. Cost $431.12 Unrealized —

ALC ALCON AG 0.0%

Value $57,353 (-34.8%) Shares 919 (-28.6%) Est. Cost $80.48 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UBS	UBS GROUP AG	180,748 (-90.4%)	$8.276M (-87.6%)	3.0%	$40.20	—	STOCK	H42097107
CRH	CRH PLC	69,018 (-75.3%)	$8.441M (-75.0%)	3.1%	$99.15	—	STOCK	G25508105
META	FACEBOOK INC	17,759 (-65.4%)	$11.43M (-66.2%)	4.1%	$655.57	—	STOCK	30303M102
AMZN	AMAZON.COM INC	38,276 (-70.6%)	$10.43M (-66.6%)	3.8%	$227.98	—	STOCK	023135106
AMRZ	AMRIZE LTD	129,703 (-75.4%)	$6.348M (-76.0%)	2.3%	$57.11	—	STOCK	H2927K103
AZN	ASTRAZENECA PLC	109,781 (-50.7%)	$17.69M (-53.0%)	6.4%	$190.39	—	STOCK	G0593M107
DASH	DOORDASH INC	50,522 (-60.7%)	$10.66M (-52.1%)	3.9%	$208.42	—	STOCK	25809K105
FER	FERROVIAL SE	368,047 (-33.3%)	$25.23M (-28.3%)	9.1%	$53.78	—	STOCK	N3168P101
SW	SMURFIT WESTROCK PLC	558,692 (-33.2%)	$29.54M (-23.1%)	10.7%	$43.92	—	STOCK	G8267P108
INTU	INTUIT INC	46 (-99.7%)	$13,720 (-99.8%)	0.0%	$509.58	—	STOCK	461202103
SPOT	SPOTIFY TECHNOLOGY SA	41,511 (-18.5%)	$21.78M (-23.4%)	7.9%	$495.03	—	STOCK	L8681T102
ACN	ACCENTURE PLC	736 (-95.2%)	$105K (-97.0%)	0.0%	$253.23	—	STOCK	G1151C101
DDOG	DATADOG INC	40,740 (-45.2%)	$12.12M (+19.9%)	4.4%	$123.93	—	STOCK	23804L103
TTE	TOTALENERGIES SE	2,115 (-85.0%)	$164K (-87.5%)	0.1%	$69.11	—	STOCK	F92124100
CRWD	CROWDSTRIKE HOLDINGS INC	5,211 (-43.9%)	$4.545M (+8.9%)	1.6%	$431.12	—	STOCK	22788C105
ALC	ALCON AG	919 (-28.6%)	$57,353 (-34.8%)	0.0%	$80.48	—	STOCK	H01301128