Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SEI	SOLARIS ENERGY INFRASTRUCTURE	49,500	$3.982M	2.5%	$80.44	—	COM	83418M103
SNDK	SANDISK CORP DE	1,700	$3.863M	2.4%	$2272.39	—	COM	80004C200
RMBS	RAMBUS INC	24,300	$3.224M	2.0%	$132.66	—	COM	750917106
ASX	ASE TECHNOLOGY HOLDING CO LTD	70,000	$3.158M	2.0%	$45.12	—	COM	00215W100
XPO	XPO INC	14,500	$2.976M	1.9%	$205.27	—	COM	983793100
APG	API GROUP CORP	65,700	$2.782M	1.7%	$42.35	—	COM	00187Y100
BKR	BAKER HUGHES CO	49,300	$2.735M	1.7%	$55.47	—	COM	05722G100
UMC	UNITED MICROELECTRONICS CORP	100,000	$2.721M	1.7%	$27.21	—	COM	910873405
OKTA	OKTA INC	17,500	$2.388M	1.5%	$136.43	—	COM	679295105
CRS	CARPENTER TECHNOLOGY CORP	3,360	$2.071M	1.3%	$616.47	—	COM	144285103
KB	KB FINANCIAL GROUP INC	19,000	$1.994M	1.2%	$104.96	—	COM	48241A105
DRS	LEONARDO DRS INC	46,600	$1.989M	1.2%	$42.69	—	COM	52661A108
PLTR	PALANTIR TECHNOLOGIES INC	15,000	$1.749M	1.1%	$116.63	—	COM	69608A108
SBKFF	STATE BANK OF INDIA	12,299	$1.333M	0.8%	$108.40	—	COM	856552203

Increased Positions (9)

PSMT PRICESMART INC 5.1%

Value $8.087M (+304.0%) Shares 41,400 (+211.3%) Est. Cost $178.97 Unrealized —

TSM TAIWAN SEMICONDUCTOR 4.8%

Value $7.641M (+55.3%) Shares 16,000 (+9.9%) Est. Cost $345.80 Unrealized —

RBC RBC BEARINGS INC 2.6%

Value $4.094M (+71.3%) Shares 6,360 (+44.5%) Est. Cost $556.52 Unrealized —

AXGN AXOGEN INC 2.9%

Value $4.56M (+58.1%) Shares 98,700 (+13.4%) Est. Cost $34.82 Unrealized —

NTRA NATERA INC 2.7%

Value $4.345M (+38.3%) Shares 16,000 (+1.9%) Est. Cost $172.34 Unrealized —

NVDA NVIDIA CORP 2.4%

Value $3.898M (+24.2%) Shares 19,500 (+8.3%) Est. Cost $176.26 Unrealized —

IBN ICICI BANK LTD 1.0%

Value $1.527M (+86.6%) Shares 52,600 (+66.5%) Est. Cost $2498.52 Unrealized —

FCFS FIRSTCASH HOLDINGS INC 2.0%

Value $3.115M (+29.4%) Shares 14,400 (+12.5%) Est. Cost $178.21 Unrealized —

INDA ISHARES MSCI INDIA ETF 0.4%

Value $706K (+46.4%) Shares 14,287 (+38.9%) Est. Cost $47.98 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PSMT	PRICESMART INC	41,400 (+211.3%)	$8.087M (+304.0%)	5.1%	$178.97	—	COM	741511109
TSM	TAIWAN SEMICONDUCTOR	16,000 (+9.9%)	$7.641M (+55.3%)	4.8%	$345.80	—	ADR	874039100
RBC	RBC BEARINGS INC	6,360 (+44.5%)	$4.094M (+71.3%)	2.6%	$556.52	—	COM	75524B104
AXGN	AXOGEN INC	98,700 (+13.4%)	$4.56M (+58.1%)	2.9%	$34.82	—	COM	05463X106
NTRA	NATERA INC	16,000 (+1.9%)	$4.345M (+38.3%)	2.7%	$172.34	—	COM	632307104
NVDA	NVIDIA CORP	19,500 (+8.3%)	$3.898M (+24.2%)	2.4%	$176.26	—	COM	67066G104
IBN	ICICI BANK LTD	52,600 (+66.5%)	$1.527M (+86.6%)	1.0%	$2498.52	—	COM	45104G104
FCFS	FIRSTCASH HOLDINGS INC	14,400 (+12.5%)	$3.115M (+29.4%)	2.0%	$178.21	—	COM	33768G107
INDA	ISHARES MSCI INDIA ETF	14,287 (+38.9%)	$706K (+46.4%)	0.4%	$47.98	—	ETF	46429B598

Exited Positions (25)

LTM LATAM AIRLINES GROUP SA 9.1%

Value $14.45M Shares 292,253 Est. Cost $33.15 Unrealized —

HTHT H WORLD GROUP LTD 8.7%

Value $13.94M Shares 277,100 Est. Cost $47.32 Unrealized —

NU NU HOLDINGS LTD 7.4%

Value $11.76M Shares 818,300 Est. Cost $16.07 Unrealized —

EDU NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC 6.2%

Value $9.888M Shares 174,600 Est. Cost $56.63 Unrealized —

IDCC INTERDIGITAL INC 3.2%

Value $5.044M Shares 16,700 Est. Cost $114.39 Unrealized —

CCJ CAMECO CORP 2.5%

Value $3.987M Shares 36,700 Est. Cost $77.39 Unrealized —

BWXT BWX TECHNOLOGIES INC 2.4%

Value $3.785M Shares 18,500 Est. Cost $187.42 Unrealized —

GS GOLDMAN SACHS GROUP INC 1.6%

Value $2.605M Shares 3,080 Est. Cost $831.94 Unrealized —

SHOP SHOPIFY INC 1.5%

Value $2.373M Shares 20,000 Est. Cost $160.56 Unrealized —

BCH BANCO DE CHILE 0.7%

Value $1.167M Shares 31,500 Est. Cost $30.30 Unrealized —

BOPCF BIOPHARMA CREDIT PLC 0.5%

Value $840K Shares 900,000 Est. Cost $132.22 Unrealized —

AGNC AGNC INVESTMENT CORP 0.4%

Value $602K Shares 60,000 Est. Cost $8.66 Unrealized —

AEM AGNICO EAGLE MINES LTD 0.4%

Value $569K Shares 2,800 Est. Cost $167.85 Unrealized —

AU ANGLOGOLD ASHANTI PLC 0.3%

Value $487K Shares 5,000 Est. Cost $24.87 Unrealized —

HDB HDFC BANK LTD-ADR 0.3%

Value $478K Shares 19,200 Est. Cost $7975.69 Unrealized —

VIST VISTA ENERGY SAB DE CV 0.3%

Value $453K Shares 6,000 Est. Cost $46.68 Unrealized —

STWD STARWOOD PROPERTY TRUST INC 0.3%

Value $431K Shares 25,000 Est. Cost $19.32 Unrealized —

BMRN BIOMARIN PHARMACEUTICAL INC 0.3%

Value $424K Shares 7,500 Est. Cost $56.60 Unrealized —

RGLD ROYAL GOLD INC 0.3%

Value $407K Shares 1,600 Est. Cost $138.04 Unrealized —

EXE EXPAND ENERGY CORP 0.2%

Value $362K Shares 3,300 Est. Cost $105.80 Unrealized —

B BARRICK MINING CORP 0.2%

Value $326K Shares 8,000 Est. Cost $19.29 Unrealized —

AVAV AEROVIRONMENT INC 0.2%

Value $293K Shares 1,600 Est. Cost $296.44 Unrealized —

NATKY NAC KAZATOMPROM JSC 0.2%

Value $281K Shares 3,600 Est. Cost $37.98 Unrealized —

SN SHARKNINJA INC 0.1%

Value $212K Shares 2,000 Est. Cost $75.85 Unrealized —

AUTL AUTOLUS THERAPEUTICS PLC 0.1%

Value $180K Shares 130,000 Est. Cost $2.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LTM	LATAM AIRLINES GROUP SA	292,253	$14.45M	9.1%	$33.15	—	—	51817R205
HTHT	H WORLD GROUP LTD	277,100	$13.94M	8.7%	$47.32	—	—	44332N106
NU	NU HOLDINGS LTD	818,300	$11.76M	7.4%	$16.07	—	—	G6683N103
EDU	NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC	174,600	$9.888M	6.2%	$56.63	—	—	647581206
IDCC	INTERDIGITAL INC	16,700	$5.044M	3.2%	$114.39	—	—	45867G101
CCJ	CAMECO CORP	36,700	$3.987M	2.5%	$77.39	—	—	13321L108
BWXT	BWX TECHNOLOGIES INC	18,500	$3.785M	2.4%	$187.42	—	—	05605H100
GS	GOLDMAN SACHS GROUP INC	3,080	$2.605M	1.6%	$831.94	—	—	38141G104
SHOP	SHOPIFY INC	20,000	$2.373M	1.5%	$160.56	—	—	82509L107
BCH	BANCO DE CHILE	31,500	$1.167M	0.7%	$30.30	—	—	059520106
BOPCF	BIOPHARMA CREDIT PLC	900,000	$840K	0.5%	$132.22	—	—	G12808104
AGNC	AGNC INVESTMENT CORP	60,000	$602K	0.4%	$8.66	—	—	00123Q104
AEM	AGNICO EAGLE MINES LTD	2,800	$569K	0.4%	$167.85	—	—	008474108
AU	ANGLOGOLD ASHANTI PLC	5,000	$487K	0.3%	$24.87	—	—	G0378L100
HDB	HDFC BANK LTD-ADR	19,200	$478K	0.3%	$7975.69	—	—	40415F101
VIST	VISTA ENERGY SAB DE CV	6,000	$453K	0.3%	$46.68	—	—	92837L109
STWD	STARWOOD PROPERTY TRUST INC	25,000	$431K	0.3%	$19.32	—	—	85571B105
BMRN	BIOMARIN PHARMACEUTICAL INC	7,500	$424K	0.3%	$56.60	—	—	09061G101
RGLD	ROYAL GOLD INC	1,600	$407K	0.3%	$138.04	—	—	780287108
EXE	EXPAND ENERGY CORP	3,300	$362K	0.2%	$105.80	—	—	165167735
B	BARRICK MINING CORP	8,000	$326K	0.2%	$19.29	—	—	06849F108
AVAV	AEROVIRONMENT INC	1,600	$293K	0.2%	$296.44	—	—	008073108
NATKY	NAC KAZATOMPROM JSC	3,600	$281K	0.2%	$37.98	—	—	63253R201
SN	SHARKNINJA INC	2,000	$212K	0.1%	$75.85	—	—	G8068L108
AUTL	AUTOLUS THERAPEUTICS PLC	130,000	$180K	0.1%	$2.27	—	—	05280R100

Decreased Positions (15)

BABA ALIBABA GROUP HODING LTD 5.8%

Value $9.329M (-36.8%) Shares 97,200 (-17.3%) Est. Cost $116.58 Unrealized —

SSNHZ SAMSUNG ELECTRONICS CO LTD 5.1%

Value $8.166M (+70.9%) Shares 1,515 (-10.1%) Est. Cost $2493.27 Unrealized —

KRMN KARMAN HOLDINGS INC 0.8%

Value $1.308M (-67.6%) Shares 26,200 (-48.0%) Est. Cost $72.41 Unrealized —

LAUR LAUREATE EDUCATION INC 5.1%

Value $8.208M (-12.1%) Shares 226,005 (-15.7%) Est. Cost $30.75 Unrealized —

VIK VIKING HOLDINGS LTD 3.0%

Value $4.743M (+24.9%) Shares 45,300 (-12.4%) Est. Cost $59.63 Unrealized —

DY DYCOM INDUSTRIES INC 2.1%

Value $3.379M (+31.9%) Shares 6,680 (-11.6%) Est. Cost $384.46 Unrealized —

ANET ARISTA NETWORKS INC 2.5%

Value $3.959M (+20.8%) Shares 23,300 (-12.7%) Est. Cost $130.37 Unrealized —

VRT VERTIV HOLDINGS CO 2.9%

Value $4.585M (+15.1%) Shares 13,700 (-13.8%) Est. Cost $173.58 Unrealized —

EMBJ EMBRAER SA 9.3%

Value $14.9M (-3.6%) Shares 233,608 (-10.4%) Est. Cost $53.01 Unrealized —

SNEX STONEX GROUP INC 2.9%

Value $4.586M (-9.7%) Shares 58,050 (-7.9%) Est. Cost $101.43 Unrealized —

ROAD CONSTRUCTION PARTNERS INC 2.2%

Value $3.468M (-8.8%) Shares 29,200 (-14.6%) Est. Cost $61.62 Unrealized —

GOOGL ALPHABET INC 2.5%

Value $3.965M (+6.1%) Shares 11,100 (-14.6%) Est. Cost $290.53 Unrealized —

AVGO BROADCOM INC 2.6%

Value $4.077M (-3.7%) Shares 10,800 (-21.1%) Est. Cost $132.46 Unrealized —

WWD WOODWARD INC 2.2%

Value $3.447M (+3.5%) Shares 8,100 (-12.9%) Est. Cost $274.80 Unrealized —

FIX COMFORT SYSTEMS USA INC 3.5%

Value $5.548M (+0.6%) Shares 2,800 (-30.0%) Est. Cost $149.35 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BABA	ALIBABA GROUP HODING LTD	97,200 (-17.3%)	$9.329M (-36.8%)	5.8%	$116.58	—	COM	01609W102
SSNHZ	SAMSUNG ELECTRONICS CO LTD	1,515 (-10.1%)	$8.166M (+70.9%)	5.1%	$2493.27	—	COM	796050888
KRMN	KARMAN HOLDINGS INC	26,200 (-48.0%)	$1.308M (-67.6%)	0.8%	$72.41	—	COM	485924104
LAUR	LAUREATE EDUCATION INC	226,005 (-15.7%)	$8.208M (-12.1%)	5.1%	$30.75	—	COM	518613203
VIK	VIKING HOLDINGS LTD	45,300 (-12.4%)	$4.743M (+24.9%)	3.0%	$59.63	—	COM	G93A5A101
DY	DYCOM INDUSTRIES INC	6,680 (-11.6%)	$3.379M (+31.9%)	2.1%	$384.46	—	COM	267475101
ANET	ARISTA NETWORKS INC	23,300 (-12.7%)	$3.959M (+20.8%)	2.5%	$130.37	—	COM	040413205
VRT	VERTIV HOLDINGS CO	13,700 (-13.8%)	$4.585M (+15.1%)	2.9%	$173.58	—	COM	92537N108
EMBJ	EMBRAER SA	233,608 (-10.4%)	$14.9M (-3.6%)	9.3%	$53.01	—	COM	29082A107
SNEX	STONEX GROUP INC	58,050 (-7.9%)	$4.586M (-9.7%)	2.9%	$101.43	—	COM	861896108
ROAD	CONSTRUCTION PARTNERS INC	29,200 (-14.6%)	$3.468M (-8.8%)	2.2%	$61.62	—	COM	21044C107
GOOGL	ALPHABET INC	11,100 (-14.6%)	$3.965M (+6.1%)	2.5%	$290.53	—	COM	02079K305
AVGO	BROADCOM INC	10,800 (-21.1%)	$4.077M (-3.7%)	2.6%	$132.46	—	COM	11135F101
WWD	WOODWARD INC	8,100 (-12.9%)	$3.447M (+3.5%)	2.2%	$274.80	—	COM	980745103
FIX	COMFORT SYSTEMS USA INC	2,800 (-30.0%)	$5.548M (+0.6%)	3.5%	$149.35	—	COM	199908104

Unchanged Positions (1)

INCO COLUMBIA INDIA COMNSUMER ETF 0.6%

Value $1.011M Shares 16,955 Est. Cost $58.24 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INCO	COLUMBIA INDIA COMNSUMER ETF	16,955	$1.011M	0.6%	$58.24	—	ETF	19762B707