Munro Partners Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	765,000	$142,673	3.7%	$108.16	+72.1%	CALL	67066G104
MIR	MIRION TECHNOLOGIES INC	417,500	$119,159	3.1%	$19.56	+27.5%	CALL	60471A101
GE	GE AEROSPACE	312,610	$96,293	2.5%	$300.80	0.0%	COM NEW	369604301
JEF	JEFFERIES FINL GROUP INC	975,795	$60,470	1.6%	$56.69	0.0%	COM	47233W109
LLY	ELI LILLY & CO	38,520	$41,397	1.1%	$955.55	0.0%	COM	532457108
AIR	AAR CORP	108,295	$8,966	0.2%	$82.73	0.0%	COM	000361105
TLN	TALEN ENERGY CORP	23,125	$8,668	0.2%	$388.68	0.0%	COM	87422Q109
ROAD	CONSTRUCTION PARTNERS INC	78,815	$8,555	0.2%	$112.57	0.0%	COM CL A	21044C107
CCJ	CAMECO CORP	84,770	$7,756	0.2%	$89.94	0.0%	COM	13321L108
COHR	COHERENT CORP	40,190	$7,418	0.2%	$149.58	0.0%	COM	19247G107
FUTU	FUTU HLDGS LTD	39,150	$6,429	0.2%	$164.21	—	SPON ADS CL A	36118L106
WM	WASTE MGMT INC DEL	25,735	$5,654	0.1%	$212.55	0.0%	COM	94106L109
FRMI	FERMI INC	526,800	$4,214	0.1%	—	—	CALL	314911108

Increased Positions (32)

GEV GE VERNOVA INC 5.6%

Value ($000) $215,899 (+125.7%) Shares 330,338 (+112.4%) Est. Cost $396.71 Unrealized +53.5%

SN SHARKNINJA INC 2.3%

Value ($000) $87,795 (+2581.6%) Shares 784,586 (+2371.9%) Est. Cost $99.19 Unrealized -0.6%

ETN EATON CORP PLC 2.3%

Value ($000) $88,081 (+667.0%) Shares 276,542 (+801.2%) Est. Cost $349.04 Unrealized +1.5%

GOOGL ALPHABET INC 4.7%

Value ($000) $179,633 (+60.2%) Shares 573,907 (+24.4%) Est. Cost $160.91 Unrealized +77.5%

LGN LEGENCE CORP 1.6%

Value ($000) $60,111 (+2660.2%) Shares 1,396,642 (+1875.9%) Est. Cost $39.12 Unrealized +1.0%

TRGP TARGA RES CORP 1.5%

Value ($000) $58,525 (+457.4%) Shares 317,210 (+406.2%) Est. Cost $168.05 Unrealized +0.0%

CEG CONSTELLATION ENERGY CORP 4.4%

Value ($000) $169,307 (+30.5%) Shares 479,257 (+21.6%) Est. Cost $142.30 Unrealized +155.2%

CLS CELESTICA INC 1.3%

Value ($000) $50,543 (+296.8%) Shares 170,980 (+230.7%) Est. Cost $257.35 Unrealized +17.1%

TKO TKO GROUP HOLDINGS INC 3.9%

Value ($000) $148,862 (+28.7%) Shares 712,256 (+24.4%) Est. Cost $160.27 Unrealized +20.9%

MA MASTERCARD INCORPORATED 3.6%

Value ($000) $137,853 (+30.7%) Shares 241,474 (+30.2%) Est. Cost $415.33 Unrealized +34.6%

V VISA INC 2.4%

Value ($000) $92,342 (+45.6%) Shares 263,300 (+41.7%) Est. Cost $345.04 Unrealized -1.4%

HEI HEICO CORP NEW 2.4%

Value ($000) $92,190 (+44.5%) Shares 284,898 (+44.2%) Est. Cost $290.46 Unrealized +8.8%

NVDA NVIDIA CORPORATION 8.4%

Value ($000) $324,980 (+9.0%) Shares 1,742,521 (+9.0%) Est. Cost $108.16 Unrealized +72.1%

CRH CRH PLC 3.6%

Value ($000) $137,580 (+22.7%) Shares 1,102,400 (+17.9%) Est. Cost $107.66 Unrealized +10.7%

JCI JOHNSON CTLS INTL PLC 2.8%

Value ($000) $106,968 (+29.2%) Shares 893,257 (+18.6%) Est. Cost $80.56 Unrealized +42.5%

ISRG INTUITIVE SURGICAL INC 1.6%

Value ($000) $61,954 (+53.7%) Shares 109,390 (+21.4%) Est. Cost $532.30 Unrealized +0.0%

GFL GFL ENVIRONMENTAL INC 0.7%

Value ($000) $28,279 (+73.1%) Shares 658,407 (+90.9%) Est. Cost $42.97 Unrealized +4.0%

NEE NEXTERA ENERGY INC 0.8%

Value ($000) $30,252 (+38.5%) Shares 376,837 (+30.2%) Est. Cost $72.85 Unrealized +13.3%

MSFT MICROSOFT CORP 4.8%

Value ($000) $185,940 (+3.6%) Shares 384,475 (+11.0%) Est. Cost $314.66 Unrealized +59.1%

BIP BROOKFIELD INFRAST PARTNERS 0.3%

Value ($000) $12,376 (+111.1%) Shares 356,240 (+99.9%) Est. Cost $33.03 Unrealized —

LIN LINDE PLC 0.7%

Value ($000) $26,468 (+29.2%) Shares 62,074 (+43.9%) Est. Cost $420.22 Unrealized +1.7%

NVMI NOVA LTD 0.3%

Value ($000) $11,980 (+56.6%) Shares 36,480 (+52.4%) Est. Cost $265.54 Unrealized +21.1%

META META PLATFORMS INC 3.1%

Value ($000) $120,641 (-3.3%) Shares 182,765 (+7.6%) Est. Cost $460.66 Unrealized +44.9%

DRS LEONARDO DRS INC 0.3%

Value ($000) $11,185 (+44.6%) Shares 328,095 (+92.6%) Est. Cost $37.84 Unrealized -2.6%

IBKR INTERACTIVE BROKERS GROUP IN 0.2%

Value ($000) $7,742 (+42.5%) Shares 120,385 (+52.4%) Est. Cost $53.47 Unrealized +25.1%

CLH CLEAN HARBORS INC 0.5%

Value ($000) $20,109 (+12.5%) Shares 85,759 (+11.4%) Est. Cost $236.82 Unrealized -3.5%

HWM HOWMET AEROSPACE INC 0.3%

Value ($000) $13,384 (+16.2%) Shares 65,283 (+11.2%) Est. Cost $118.26 Unrealized +68.3%

FWONK LIBERTY MEDIA CORP DEL 3.6%

Value ($000) $139,743 (-1.2%) Shares 1,418,568 (+4.7%) Est. Cost $79.93 Unrealized —

BSX BOSTON SCIENTIFIC CORP 3.1%

Value ($000) $119,837 (-1.2%) Shares 1,256,810 (+1.2%) Est. Cost $81.91 Unrealized +19.7%

RDDT REDDIT INC 0.2%

Value ($000) $9,551 (+15.4%) Shares 41,550 (+15.4%) Est. Cost $158.86 Unrealized +32.4%

WAY WAYSTAR HLDG CORP 0.2%

Value ($000) $5,964 (-12.1%) Shares 182,115 (+1.8%) Est. Cost $38.00 Unrealized -6.3%

MIR MIRION TECHNOLOGIES INC 0.1%

Value ($000) $5,216 (+12.2%) Shares 222,720 (+11.4%) Est. Cost $19.56 Unrealized +27.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GEV	GE VERNOVA INC	330,338 (+112.4%)	$215,899 (+125.7%)	5.6%	$396.71	+53.5%	COM	36828A101
SN	SHARKNINJA INC	784,586 (+2371.9%)	$87,795 (+2581.6%)	2.3%	$99.19	-0.6%	COM SHS	G8068L108
ETN	EATON CORP PLC	276,542 (+801.2%)	$88,081 (+667.0%)	2.3%	$349.04	+1.5%	SHS	G29183103
GOOGL	ALPHABET INC	573,907 (+24.4%)	$179,633 (+60.2%)	4.7%	$160.91	+77.5%	CAP STK CL A	02079K305
LGN	LEGENCE CORP	1,396,642 (+1875.9%)	$60,111 (+2660.2%)	1.6%	$39.12	+1.0%	CL A	52476L109
TRGP	TARGA RES CORP	317,210 (+406.2%)	$58,525 (+457.4%)	1.5%	$168.05	+0.0%	COM	87612G101
CEG	CONSTELLATION ENERGY CORP	479,257 (+21.6%)	$169,307 (+30.5%)	4.4%	$142.30	+155.2%	COM	21037T109
CLS	CELESTICA INC	170,980 (+230.7%)	$50,543 (+296.8%)	1.3%	$257.35	+17.1%	COM	15101Q207
TKO	TKO GROUP HOLDINGS INC	712,256 (+24.4%)	$148,862 (+28.7%)	3.9%	$160.27	+20.9%	CL A	87256C101
MA	MASTERCARD INCORPORATED	241,474 (+30.2%)	$137,853 (+30.7%)	3.6%	$415.33	+34.6%	CL A	57636Q104
V	VISA INC	263,300 (+41.7%)	$92,342 (+45.6%)	2.4%	$345.04	-1.4%	COM CL A	92826C839
HEI	HEICO CORP NEW	284,898 (+44.2%)	$92,190 (+44.5%)	2.4%	$290.46	+8.8%	COM	422806109
NVDA	NVIDIA CORPORATION	1,742,521 (+9.0%)	$324,980 (+9.0%)	8.4%	$108.16	+72.1%	COM	67066G104
CRH	CRH PLC	1,102,400 (+17.9%)	$137,580 (+22.7%)	3.6%	$107.66	+10.7%	ORD	G25508105
JCI	JOHNSON CTLS INTL PLC	893,257 (+18.6%)	$106,968 (+29.2%)	2.8%	$80.56	+42.5%	SHS	G51502105
ISRG	INTUITIVE SURGICAL INC	109,390 (+21.4%)	$61,954 (+53.7%)	1.6%	$532.30	+0.0%	COM NEW	46120E602
GFL	GFL ENVIRONMENTAL INC	658,407 (+90.9%)	$28,279 (+73.1%)	0.7%	$42.97	+4.0%	SUB VTG SHS	36168Q104
NEE	NEXTERA ENERGY INC	376,837 (+30.2%)	$30,252 (+38.5%)	0.8%	$72.85	+13.3%	COM	65339F101
MSFT	MICROSOFT CORP	384,475 (+11.0%)	$185,940 (+3.6%)	4.8%	$314.66	+59.1%	COM	594918104
BIP	BROOKFIELD INFRAST PARTNERS	356,240 (+99.9%)	$12,376 (+111.1%)	0.3%	$33.03	—	LP INT UNIT	G16252101
LIN	LINDE PLC	62,074 (+43.9%)	$26,468 (+29.2%)	0.7%	$420.22	+1.7%	SHS	G54950103
NVMI	NOVA LTD	36,480 (+52.4%)	$11,980 (+56.6%)	0.3%	$265.54	+21.1%	COM	M7516K103
META	META PLATFORMS INC	182,765 (+7.6%)	$120,641 (-3.3%)	3.1%	$460.66	+44.9%	CL A	30303M102
DRS	LEONARDO DRS INC	328,095 (+92.6%)	$11,185 (+44.6%)	0.3%	$37.84	-2.6%	COM	52661A108
IBKR	INTERACTIVE BROKERS GROUP IN	120,385 (+52.4%)	$7,742 (+42.5%)	0.2%	$53.47	+25.1%	COM CL A	45841N107
CLH	CLEAN HARBORS INC	85,759 (+11.4%)	$20,109 (+12.5%)	0.5%	$236.82	-3.5%	COM	184496107
HWM	HOWMET AEROSPACE INC	65,283 (+11.2%)	$13,384 (+16.2%)	0.3%	$118.26	+68.3%	COM	443201108
FWONK	LIBERTY MEDIA CORP DEL	1,418,568 (+4.7%)	$139,743 (-1.2%)	3.6%	$79.93	—	COM LBTY ONE S C	531229755
BSX	BOSTON SCIENTIFIC CORP	1,256,810 (+1.2%)	$119,837 (-1.2%)	3.1%	$81.91	+19.7%	COM	101137107
RDDT	REDDIT INC	41,550 (+15.4%)	$9,551 (+15.4%)	0.2%	$158.86	+32.4%	CL A	75734B100
WAY	WAYSTAR HLDG CORP	182,115 (+1.8%)	$5,964 (-12.1%)	0.2%	$38.00	-6.3%	COM	946784105
MIR	MIRION TECHNOLOGIES INC	222,720 (+11.4%)	$5,216 (+12.2%)	0.1%	$19.56	+27.5%	COM CL A	60471A101

Exited Positions (16)

UBER UBER TECHNOLOGIES INC 3.3%

Value ($000) $126,090 Shares 1,287,025 Est. Cost $65.52 Unrealized +37.4%

ORCL ORACLE CORP 2.7%

Value ($000) $103,311 Shares 367,340 Est. Cost $160.80 Unrealized +48.0%

MSI MOTOROLA SOLUTIONS INC 2.4%

Value ($000) $92,720 Shares 202,760 Est. Cost $432.19 Unrealized -7.3%

NFLX NETFLIX INC 2.2%

Value ($000) $85,135 Shares 71,010 Est. Cost $70.09 Unrealized +53.8%

CRWV COREWEAVE INC 2.2%

Value ($000) $84,366 Shares 616,485 Est. Cost $117.82 Unrealized -13.9%

LNG CHENIERE ENERGY INC 1.8%

Value ($000) $68,980 Shares 293,555 Est. Cost $231.80 Unrealized -9.4%

ARES ARES MANAGEMENT CORPORATION 1.5%

Value ($000) $58,218 Shares 364,115 Est. Cost $178.28 Unrealized -13.1%

KKR KKR & CO INC 1.2%

Value ($000) $47,204 Shares 363,250 Est. Cost $141.65 Unrealized -12.3%

AMD ADVANCED MICRO DEVICES INC 1.0%

Value ($000) $40,109 Shares 164,300 Est. Cost — Unrealized —

ONON ON HLDG AG 0.3%

Value ($000) $12,035 Shares 284,190 Est. Cost $48.73 Unrealized -11.6%

DDOG DATADOG INC 0.2%

Value ($000) $7,120 Shares 50,000 Est. Cost $137.70 Unrealized +14.8%

DT DYNATRACE INC 0.1%

Value ($000) $5,422 Shares 111,915 Est. Cost $50.34 Unrealized -7.4%

OWL BLUE OWL CAPITAL INC 0.1%

Value ($000) $5,077 Shares 299,870 Est. Cost $18.81 Unrealized -16.9%

ZS ZSCALER INC 0.1%

Value ($000) $4,218 Shares 14,075 Est. Cost $239.83 Unrealized +17.7%

KNSL KINSALE CAP GROUP INC 0.1%

Value ($000) $3,944 Shares 9,275 Est. Cost $459.70 Unrealized -11.3%

WIX WIX COM LTD 0.1%

Value ($000) $3,918 Shares 22,055 Est. Cost $178.08 Unrealized -32.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UBER	UBER TECHNOLOGIES INC	1,287,025	$126,090	3.3%	$65.52	+37.4%	—	90353T100
ORCL	ORACLE CORP	367,340	$103,311	2.7%	$160.80	+48.0%	—	68389X105
MSI	MOTOROLA SOLUTIONS INC	202,760	$92,720	2.4%	$432.19	-7.3%	—	620076307
NFLX	NETFLIX INC	71,010	$85,135	2.2%	$70.09	+53.8%	—	64110L106
CRWV	COREWEAVE INC	616,485	$84,366	2.2%	$117.82	-13.9%	—	21873S108
LNG	CHENIERE ENERGY INC	293,555	$68,980	1.8%	$231.80	-9.4%	—	16411R208
ARES	ARES MANAGEMENT CORPORATION	364,115	$58,218	1.5%	$178.28	-13.1%	—	03990B101
KKR	KKR & CO INC	363,250	$47,204	1.2%	$141.65	-12.3%	—	48251W104
AMD	ADVANCED MICRO DEVICES INC	164,300	$40,109	1.0%	—	—	CALL	007903107
ONON	ON HLDG AG	284,190	$12,035	0.3%	$48.73	-11.6%	—	H5919C104
DDOG	DATADOG INC	50,000	$7,120	0.2%	$137.70	+14.8%	—	23804L103
DT	DYNATRACE INC	111,915	$5,422	0.1%	$50.34	-7.4%	—	268150109
OWL	BLUE OWL CAPITAL INC	299,870	$5,077	0.1%	$18.81	-16.9%	—	09581B103
ZS	ZSCALER INC	14,075	$4,218	0.1%	$239.83	+17.7%	—	98980G102
KNSL	KINSALE CAP GROUP INC	9,275	$3,944	0.1%	$459.70	-11.3%	—	49714P108
WIX	WIX COM LTD	22,055	$3,918	0.1%	$178.08	-32.1%	—	M98068105

Decreased Positions (15)

VRT VERTIV HOLDINGS CO 0.6%

Value ($000) $21,886 (-79.3%) Shares 135,090 (-80.8%) Est. Cost $96.29 Unrealized +80.3%

CW CURTISS WRIGHT CORP 0.3%

Value ($000) $10,375 (-88.3%) Shares 18,820 (-88.5%) Est. Cost $290.37 Unrealized +92.0%

AVGO BROADCOM INC 1.1%

Value ($000) $43,843 (-62.0%) Shares 126,676 (-63.8%) Est. Cost $222.28 Unrealized +60.6%

SPOT SPOTIFY TECHNOLOGY S A 0.1%

Value ($000) $3,699 (-94.9%) Shares 6,370 (-93.8%) Est. Cost $627.19 Unrealized -0.3%

PODD INSULET CORP 0.2%

Value ($000) $7,524 (-89.3%) Shares 26,470 (-88.4%) Est. Cost $310.62 Unrealized +0.7%

AXON AXON ENTERPRISE INC 1.4%

Value ($000) $55,465 (-40.3%) Shares 97,662 (-24.6%) Est. Cost $540.15 Unrealized +14.9%

CIEN CIENA CORP 1.8%

Value ($000) $71,197 (-12.2%) Shares 304,430 (-45.3%) Est. Cost $101.84 Unrealized +90.5%

MELI MERCADOLIBRE INC 0.1%

Value ($000) $4,723 (-49.8%) Shares 2,345 (-41.7%) Est. Cost $1924.91 Unrealized +9.1%

AVAV AEROVIRONMENT INC 0.1%

Value ($000) $2,713 (-57.8%) Shares 11,215 (-45.1%) Est. Cost $258.71 Unrealized +21.5%

SHOP SHOPIFY INC 1.6%

Value ($000) $63,251 (+3.8%) Shares 392,935 (-4.1%) Est. Cost $135.57 Unrealized +18.4%

ALAB ASTERA LABS INC 0.2%

Value ($000) $6,560 (-24.9%) Shares 39,430 (-11.6%) Est. Cost $112.95 Unrealized +48.1%

TT TRANE TECHNOLOGIES PLC 0.2%

Value ($000) $6,576 (-13.7%) Shares 16,895 (-6.5%) Est. Cost $362.57 Unrealized +14.1%

FIX COMFORT SYS USA INC 0.6%

Value ($000) $21,871 (-2.8%) Shares 23,434 (-14.0%) Est. Cost $432.44 Unrealized +113.4%

PWR QUANTA SVCS INC 0.8%

Value ($000) $32,212 (-0.9%) Shares 76,322 (-2.7%) Est. Cost $287.82 Unrealized +52.6%

TW TRADEWEB MKTS INC 0.1%

Value ($000) $5,169 (-5.1%) Shares 48,070 (-2.0%) Est. Cost $133.15 Unrealized -19.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VRT	VERTIV HOLDINGS CO	135,090 (-80.8%)	$21,886 (-79.3%)	0.6%	$96.29	+80.3%	COM CL A	92537N108
CW	CURTISS WRIGHT CORP	18,820 (-88.5%)	$10,375 (-88.3%)	0.3%	$290.37	+92.0%	COM	231561101
AVGO	BROADCOM INC	126,676 (-63.8%)	$43,843 (-62.0%)	1.1%	$222.28	+60.6%	COM	11135F101
SPOT	SPOTIFY TECHNOLOGY S A	6,370 (-93.8%)	$3,699 (-94.9%)	0.1%	$627.19	-0.3%	SHS	L8681T102
PODD	INSULET CORP	26,470 (-88.4%)	$7,524 (-89.3%)	0.2%	$310.62	+0.7%	COM	45784P101
AXON	AXON ENTERPRISE INC	97,662 (-24.6%)	$55,465 (-40.3%)	1.4%	$540.15	+14.9%	COM	05464C101
CIEN	CIENA CORP	304,430 (-45.3%)	$71,197 (-12.2%)	1.8%	$101.84	+90.5%	COM NEW	171779309
MELI	MERCADOLIBRE INC	2,345 (-41.7%)	$4,723 (-49.8%)	0.1%	$1924.91	+9.1%	COM	58733R102
AVAV	AEROVIRONMENT INC	11,215 (-45.1%)	$2,713 (-57.8%)	0.1%	$258.71	+21.5%	COM	008073108
SHOP	SHOPIFY INC	392,935 (-4.1%)	$63,251 (+3.8%)	1.6%	$135.57	+18.4%	CL A SUB VTG SHS	82509L107
ALAB	ASTERA LABS INC	39,430 (-11.6%)	$6,560 (-24.9%)	0.2%	$112.95	+48.1%	COM	04626A103
TT	TRANE TECHNOLOGIES PLC	16,895 (-6.5%)	$6,576 (-13.7%)	0.2%	$362.57	+14.1%	SHS	G8994E103
FIX	COMFORT SYS USA INC	23,434 (-14.0%)	$21,871 (-2.8%)	0.6%	$432.44	+113.4%	COM	199908104
PWR	QUANTA SVCS INC	76,322 (-2.7%)	$32,212 (-0.9%)	0.8%	$287.82	+52.6%	COM	74762E102
TW	TRADEWEB MKTS INC	48,070 (-2.0%)	$5,169 (-5.1%)	0.1%	$133.15	-19.4%	CL A	892672106

Unchanged Positions (1)

AMZN AMAZON COM INC 5.5%

Value ($000) $213,548 Shares 925,173 Est. Cost $136.42 Unrealized +67.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	925,173	$213,548	5.5%	$136.42	+67.7%	COM	023135106