ONCE CAPITAL MANAGEMENT, LLC Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NOW	SERVICENOW INC	35,250 (+400.0%)	$5,400 (-16.8%)	1.1%	$172.81	-0.7%	COM	81762P102
UUUU	ENERGY FUELS INC	60,000 (+809.1%)	$872 (+761.1%)	0.2%	$16.27	+4.3%	COM NEW	292671708
SMR	NUSCALE PWR CORP	452,700 (+128.5%)	$6,415 (-10.1%)	1.3%	$23.59	+21.2%	CL A COM	67079K100
SYM	SYMBOTIC INC	3,400 (+100.0%)	$202 (+120.8%)	0.0%	$58.29	+13.3%	CLASS A COM	87151X101

Exited Positions (7)

AVAV AEROVIRONMENT INC 0.0%

Value ($000) $126 Shares 400 Est. Cost $258.71 Unrealized +21.5%

PL PLANET LABS PBC 0.0%

Value ($000) $117 Shares 9,000 Est. Cost $7.71 Unrealized +85.8%

NVT NVENT ELECTRIC PLC 0.0%

Value ($000) $99 Shares 1,000 Est. Cost $86.47 Unrealized +19.8%

AMSC AMERICAN SUPERCONDUCTOR CORP 0.0%

Value ($000) $95 Shares 1,600 Est. Cost $49.99 Unrealized -13.5%

ASPI ASP ISOTOPES INC 0.0%

Value ($000) $92 Shares 9,600 Est. Cost $9.22 Unrealized -13.7%

TEM TEMPUS AI INC 0.0%

Value ($000) $89 Shares 1,100 Est. Cost $70.04 Unrealized +11.7%

CRDO CREDO TECHNOLOGY GROUP HOLDI 0.0%

Value ($000) $87 Shares 600 Est. Cost $122.39 Unrealized +25.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVAV	AEROVIRONMENT INC	400	$126	0.0%	$258.71	+21.5%	—	008073108
PL	PLANET LABS PBC	9,000	$117	0.0%	$7.71	+85.8%	—	72703X106
NVT	NVENT ELECTRIC PLC	1,000	$99	0.0%	$86.47	+19.8%	—	G6700G107
AMSC	AMERICAN SUPERCONDUCTOR CORP	1,600	$95	0.0%	$49.99	-13.5%	—	030111207
ASPI	ASP ISOTOPES INC	9,600	$92	0.0%	$9.22	-13.7%	—	00218A105
TEM	TEMPUS AI INC	1,100	$89	0.0%	$70.04	+11.7%	—	88023B103
CRDO	CREDO TECHNOLOGY GROUP HOLDI	600	$87	0.0%	$122.39	+25.7%	—	G25457105

Unchanged Positions (17)

ASTS AST SPACEMOBILE INC 11.8%

Value ($000) $57,414 Shares 790,500 Est. Cost $17.01 Unrealized +319.6%

RKLB ROCKET LAB CORP 8.0%

Value ($000) $38,787 Shares 556,000 Est. Cost $25.04 Unrealized +128.9%

AMD ADVANCED MICRO DEVICES INC 5.5%

Value ($000) $26,834 Shares 125,300 Est. Cost $125.90 Unrealized +78.4%

SPOT SPOTIFY TECHNOLOGY S A 4.8%

Value ($000) $23,286 Shares 40,100 Est. Cost $221.85 Unrealized +181.8%

— APPLE INC 11.2%

Value ($000) $54,372 Shares 200,000 Est. Cost — Unrealized —

GBTC GRAYSCALE BITCOIN TRUST ETF 1.5%

Value ($000) $7,362 Shares 107,700 Est. Cost $63.17 Unrealized —

AAPL APPLE INC 4.5%

Value ($000) $21,993 Shares 80,900 Est. Cost $208.22 Unrealized +28.9%

MSFT MICROSOFT CORP 3.3%

Value ($000) $16,056 Shares 33,200 Est. Cost $327.45 Unrealized +52.9%

CRWD CROWDSTRIKE HLDGS INC 4.9%

Value ($000) $23,907 Shares 51,000 Est. Cost $262.44 Unrealized +94.0%

AMZN AMAZON COM INC 3.4%

Value ($000) $16,342 Shares 70,800 Est. Cost $144.21 Unrealized +58.6%

SNOW SNOWFLAKE INC 3.5%

Value ($000) $16,869 Shares 76,900 Est. Cost $204.21 Unrealized +19.5%

— MARVELL TECHNOLOGY INC 6.5%

Value ($000) $31,868 Shares 375,000 Est. Cost — Unrealized —

BTC GRAYSCALE BITCOIN MINI TR ET 0.2%

Value ($000) $834 Shares 21,540 Est. Cost $41.87 Unrealized —

MRVL MARVELL TECHNOLOGY INC 3.2%

Value ($000) $15,449 Shares 181,800 Est. Cost $73.61 Unrealized +18.8%

TSLA TESLA INC 2.8%

Value ($000) $13,716 Shares 30,500 Est. Cost $331.54 Unrealized +33.7%

NVDA NVIDIA CORPORATION 21.5%

Value ($000) $104,813 Shares 562,000 Est. Cost $97.88 Unrealized +90.2%

RR RICHTECH ROBOTICS INC 0.0%

Value ($000) $65 Shares 20,000 Est. Cost $2.63 Unrealized +68.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ASTS	AST SPACEMOBILE INC	790,500	$57,414	11.8%	$17.01	+319.6%	COM CL A	00217D100
RKLB	ROCKET LAB CORP	556,000	$38,787	8.0%	$25.04	+128.9%	COM	773121108
AMD	ADVANCED MICRO DEVICES INC	125,300	$26,834	5.5%	$125.90	+78.4%	COM	007903107
SPOT	SPOTIFY TECHNOLOGY S A	40,100	$23,286	4.8%	$221.85	+181.8%	SHS	L8681T102
—	APPLE INC	200,000	$54,372	11.2%	—	—	CALL	037833900
GBTC	GRAYSCALE BITCOIN TRUST ETF	107,700	$7,362	1.5%	$63.17	—	SHS REP COM UT	389637109
AAPL	APPLE INC	80,900	$21,993	4.5%	$208.22	+28.9%	COM	037833100
MSFT	MICROSOFT CORP	33,200	$16,056	3.3%	$327.45	+52.9%	COM	594918104
CRWD	CROWDSTRIKE HLDGS INC	51,000	$23,907	4.9%	$262.44	+94.0%	CL A	22788C105
AMZN	AMAZON COM INC	70,800	$16,342	3.4%	$144.21	+58.6%	COM	023135106
SNOW	SNOWFLAKE INC	76,900	$16,869	3.5%	$204.21	+19.5%	COM SHS	833445109
—	MARVELL TECHNOLOGY INC	375,000	$31,868	6.5%	—	—	CALL	573874904
BTC	GRAYSCALE BITCOIN MINI TR ET	21,540	$834	0.2%	$41.87	—	SHS NEW	389930207
MRVL	MARVELL TECHNOLOGY INC	181,800	$15,449	3.2%	$73.61	+18.8%	COM	573874104
TSLA	TESLA INC	30,500	$13,716	2.8%	$331.54	+33.7%	COM	88160R101
NVDA	NVIDIA CORPORATION	562,000	$104,813	21.5%	$97.88	+90.2%	COM	67066G104
RR	RICHTECH ROBOTICS INC	20,000	$65	0.0%	$2.63	+68.1%	CL B	765504105