Yong Rong (HK) Asset Management Ltd Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BULL	WEBULL CORP	5,000,000	$39	11.8%	$10.06	0.0%	ORD SHS	G9572D103
XPEV	XPENG INC	1,588,000	$32	9.8%	$0.02	—	ADS	98422D105
—	SUNRISE NEW ENERGY CO LTD	7,000,000	$7	2.1%	$0.00	—	ORD CL A SHS	G3932F106
SNDK	SANDISK CORP	25,000	$6	1.8%	$200.29	0.0%	COM	80004C200
PDD	PINDUODUO INC	50,000	$6	1.7%	$0.11	—	SPONSORED ADS	722304102
XME	SPDR SER TR	30,000	$3	0.9%	$0.10	—	S&P METALS MNG	78464A755
BCI	ABRDN ETFS	150,000	$3	0.9%	$0.02	—	BBRG ALL COMD K1	003261104
XLE	SELECT SECTOR SPDR TR	60,000	$3	0.8%	$0.04	—	STATE STREET ENE	81369Y506
ACMR	ACM RESH INC	60,000	$2	0.7%	$37.26	0.0%	COM CL A	00108J109
—	APPLOVIN CORP	2,000	$1	0.3%	—	—	PUT	03831W958
—	ROBINHOOD MKTS INC	4,000	$0	0.0%	—	—	CALL	770700902
—	STRATEGY INC	3,000	$0	0.0%	—	—	CALL	594972908

Increased Positions (3)

SUPX JUNEE LIMITED 13.1%

Value ($000) $43 (-73.0%) Shares 2,748,088 (+11.3%) Est. Cost $26.40 Unrealized +58.5%

CRCL CIRCLE INTERNET GROUP INC 23.9%

Value ($000) $79 (+146.2%) Shares 994,200 (+311.7%) Est. Cost $117.20 Unrealized -11.8%

— CIRCLE INTERNET GROUP INC 0.0%

Value ($000) $0 (-98.3%) Shares 4,000 (+126.5%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SUPX	JUNEE LIMITED	2,748,088 (+11.3%)	$43 (-73.0%)	13.1%	$26.40	+58.5%	USD ORD SHS NEW	G5294K110
CRCL	CIRCLE INTERNET GROUP INC	994,200 (+311.7%)	$79 (+146.2%)	23.9%	$117.20	-11.8%	COM CL A	172573107
—	CIRCLE INTERNET GROUP INC	4,000 (+126.5%)	$0 (-98.3%)	0.0%	—	—	CALL	172573907

Exited Positions (10)

NVDA NVIDIA CORPORATION 17.0%

Value ($000) $56 Shares 300,000 Est. Cost $126.24 Unrealized +47.4%

ETHU VOLATILITY SHS TR 11.0%

Value ($000) $36 Shares 280,000 Est. Cost $0.13 Unrealized —

PYPL PAYPAL HLDGS INC 9.7%

Value ($000) $32 Shares 478,000 Est. Cost $70.32 Unrealized -7.8%

UBER UBER TECHNOLOGIES INC 2.9%

Value ($000) $9 Shares 96,000 Est. Cost $93.52 Unrealized -3.7%

U UNITY SOFTWARE INC 2.4%

Value ($000) $8 Shares 200,000 Est. Cost $37.08 Unrealized +9.9%

— NVIDIA CORPORATION 1.6%

Value ($000) $5 Shares 78,000 Est. Cost — Unrealized —

SMMT SUMMIT THERAPEUTICS INC 0.6%

Value ($000) $2 Shares 100,000 Est. Cost $24.25 Unrealized -22.4%

— RUBRIK INC. 0.4%

Value ($000) $1 Shares 5,000 Est. Cost — Unrealized —

— CAMECO CORP 0.1%

Value ($000) $0 Shares 6,000 Est. Cost — Unrealized —

— UBER TECHNOLOGIES INC 0.1%

Value ($000) $0 Shares 15,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	300,000	$56	17.0%	$126.24	+47.4%	—	67066G104
ETHU	VOLATILITY SHS TR	280,000	$36	11.0%	$0.13	—	—	92864M798
PYPL	PAYPAL HLDGS INC	478,000	$32	9.7%	$70.32	-7.8%	—	70450Y103
UBER	UBER TECHNOLOGIES INC	96,000	$9	2.9%	$93.52	-3.7%	—	90353T100
U	UNITY SOFTWARE INC	200,000	$8	2.4%	$37.08	+9.9%	—	91332U101
—	NVIDIA CORPORATION	78,000	$5	1.6%	—	—	CALL	67066G904
SMMT	SUMMIT THERAPEUTICS INC	100,000	$2	0.6%	$24.25	-22.4%	—	86627T108
—	RUBRIK INC.	5,000	$1	0.4%	—	—	CALL	781154909
—	CAMECO CORP	6,000	$0	0.1%	—	—	CALL	13321L908
—	UBER TECHNOLOGIES INC	15,000	$0	0.1%	—	—	CALL	90353T900

Decreased Positions (5)

ETHA ISHARES ETHEREUM TR 10.0%

Value ($000) $33 (-35.3%) Shares 1,467,100 (-9.2%) Est. Cost $0.03 Unrealized —

RBRK RUBRIK INC. 2.3%

Value ($000) $8 (-69.0%) Shares 100,000 (-66.7%) Est. Cost $79.23 Unrealized -3.2%

— ISHARES BITCOIN TRUST ETF 0.0%

Value ($000) $0 (-99.6%) Shares 10,000 (-60.0%) Est. Cost — Unrealized —

— ISHARES ETHEREUM TR 0.0%

Value ($000) $0 (-98.9%) Shares 20,000 (-33.3%) Est. Cost — Unrealized —

GOOG ALPHABET INC 14.3%

Value ($000) $47 (-3.5%) Shares 149,800 (-25.1%) Est. Cost $209.93 Unrealized +36.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ETHA	ISHARES ETHEREUM TR	1,467,100 (-9.2%)	$33 (-35.3%)	10.0%	$0.03	—	SHS	46438R105
RBRK	RUBRIK INC.	100,000 (-66.7%)	$8 (-69.0%)	2.3%	$79.23	-3.2%	CL A	781154109
—	ISHARES BITCOIN TRUST ETF	10,000 (-60.0%)	$0 (-99.6%)	0.0%	—	—	CALL	46438F901
—	ISHARES ETHEREUM TR	20,000 (-33.3%)	$0 (-98.9%)	0.0%	—	—	CALL	46438R905
GOOG	ALPHABET INC	149,800 (-25.1%)	$47 (-3.5%)	14.3%	$209.93	+36.4%	CAP STK CL C	02079K107

Unchanged Positions (3)

SIL GLOBAL X FDS 3.0%

Value ($000) $10 Shares 120,000 Est. Cost $0.07 Unrealized —

GDX VANECK VECTORS ETF TR 1.3%

Value ($000) $4 Shares 50,000 Est. Cost $0.04 Unrealized —

ISPR ISPIRE TECHNOLOGY INC 1.3%

Value ($000) $4 Shares 1,504,147 Est. Cost $7.38 Unrealized -68.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SIL	GLOBAL X FDS	120,000	$10	3.0%	$0.07	—	GLOBAL X SILVER	37954Y848
GDX	VANECK VECTORS ETF TR	50,000	$4	1.3%	$0.04	—	GOLD MINERS ETF	92189F106
ISPR	ISPIRE TECHNOLOGY INC	1,504,147	$4	1.3%	$7.38	-68.5%	COM	46501C100