Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CSTM	CONSTELLIUM SE	874,000	$21.48M	6.6%	$23.19	0.0%	CL A SHS	F21107101
GLNG	GOLAR LNG LTD	310,000	$16.77M	5.2%	$41.32	0.0%	SHS	G9456A100
DKS	DICKS SPORTING GOODS INC	80,000	$15.86M	4.9%	—	—	CALL	253393102
AIR	AAR CORP	110,000	$12.04M	3.7%	$106.17	0.0%	COM	000361105
PVH	PVH CORPORATION	156,000	$10.88M	3.4%	$66.09	0.0%	COM	693656100
MCO	MOODYS CORP	17,340	$7.565M	2.3%	$489.58	0.0%	COM	615369105
CTRN	CITI TRENDS INC	170,100	$7.369M	2.3%	$45.22	0.0%	COM	17306X102
RTX	RTX CORPORATION	36,200	$6.983M	2.2%	$196.61	0.0%	COM	75513E101
COLD	AMERICOLD REALTY TRUST INC	381,300	$4.37M	1.4%	$11.46	—	COM	03064D108
GWRE	GUIDEWIRE SOFTWARE INC	28,500	$4.262M	1.3%	$150.20	0.0%	COM	40171V100
ROST	ROSS STORES INC	19,600	$4.246M	1.3%	$192.38	0.0%	COM	778296103
BURL	BURLINGTON STORES INC	5,920	$1.926M	0.6%	$304.20	0.0%	COM	122017106

Increased Positions (3)

CHDN CHURCHILL DOWNS INC 6.0%

Value $19.31M (-16.1%) Shares 215,000 (+6.2%) Est. Cost $100.31 Unrealized -0.5%

SXT SENSIENT TECHNOLOGIES CORP 6.4%

Value $20.68M (+6.2%) Shares 239,200 (+15.4%) Est. Cost $77.14 Unrealized +24.1%

FNKO FUNKO INC 0.3%

Value $819K (+201.1%) Shares 260,000 (+225.0%) Est. Cost $3.76 Unrealized +7.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CHDN	CHURCHILL DOWNS INC	215,000 (+6.2%)	$19.31M (-16.1%)	6.0%	$100.31	-0.5%	COM	171484108
SXT	SENSIENT TECHNOLOGIES CORP	239,200 (+15.4%)	$20.68M (+6.2%)	6.4%	$77.14	+24.1%	COM	81725T100
FNKO	FUNKO INC	260,000 (+225.0%)	$819K (+201.1%)	0.3%	$3.76	+7.3%	COM CL A	361008105

Exited Positions (7)

CNM CORE & MAIN INC 4.1%

Value $13.36M Shares 257,000 Est. Cost $51.29 Unrealized +9.7%

UAL UNITED AIRLS HLDGS INC 3.1%

Value $9.885M Shares 88,400 Est. Cost $101.05 Unrealized +10.5%

AYI ACUITY INC 3.0%

Value $9.828M Shares 27,296 Est. Cost $330.35 Unrealized -2.6%

GFF GRIFFON CORP 1.5%

Value $4.787M Shares 65,000 Est. Cost $76.76 Unrealized +10.7%

VSCO VICTORIAS SECRET AND CO 1.3%

Value $4.209M Shares 77,700 Est. Cost $29.40 Unrealized +104.6%

IFF INTERNATIONAL FLAVORS&FRAGRA 1.2%

Value $3.976M Shares 59,000 Est. Cost $64.40 Unrealized +15.1%

GAP GAP INC 0.6%

Value $1.848M Shares 72,200 Est. Cost $24.07 Unrealized +14.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CNM	CORE & MAIN INC	257,000	$13.36M	4.1%	$51.29	+9.7%	—	21874C102
UAL	UNITED AIRLS HLDGS INC	88,400	$9.885M	3.1%	$101.05	+10.5%	—	910047109
AYI	ACUITY INC	27,296	$9.828M	3.0%	$330.35	-2.6%	—	00508Y102
GFF	GRIFFON CORP	65,000	$4.787M	1.5%	$76.76	+10.7%	—	398433102
VSCO	VICTORIAS SECRET AND CO	77,700	$4.209M	1.3%	$29.40	+104.6%	—	926400102
IFF	INTERNATIONAL FLAVORS&FRAGRA	59,000	$3.976M	1.2%	$64.40	+15.1%	—	459506101
GAP	GAP INC	72,200	$1.848M	0.6%	$24.07	+14.1%	—	364760108

Decreased Positions (14)

LION LIONSGATE STUDIOS CORP 6.9%

Value $22.28M (-25.1%) Shares 2,323,099 (-28.7%) Est. Cost $6.62 Unrealized +35.6%

AER AERCAP HOLDINGS NV 2.9%

Value $9.397M (-41.9%) Shares 68,500 (-39.2%) Est. Cost $79.46 Unrealized +83.5%

LINE LINEAGE INC 1.3%

Value $4.357M (-60.3%) Shares 133,000 (-57.6%) Est. Cost $35.00 Unrealized —

UHAL/B U HAUL HOLDING COMPANY 4.0%

Value $12.95M (-33.1%) Shares 290,000 (-30.0%) Est. Cost $64.88 Unrealized -23.8%

CELH CELSIUS HLDGS INC 2.3%

Value $7.451M (-44.4%) Shares 210,000 (-28.3%) Est. Cost $50.38 Unrealized +0.6%

PRMB PRIMO BRANDS CORPORATION 4.3%

Value $13.95M (-29.0%) Shares 740,700 (-38.3%) Est. Cost $27.02 Unrealized -30.8%

JBS JBS N.V. 3.0%

Value $9.727M (-32.7%) Shares 541,600 (-45.9%) Est. Cost $14.14 Unrealized +8.9%

WCC WESCO INTL INC 5.3%

Value $17.02M (-21.0%) Shares 62,200 (-29.4%) Est. Cost $177.20 Unrealized +62.7%

QDEL QUIDELORTHO CORP 1.4%

Value $4.643M (-47.3%) Shares 282,600 (-8.3%) Est. Cost $35.03 Unrealized -18.9%

WWD WOODWARD INC 4.4%

Value $14.35M (-15.2%) Shares 40,100 (-28.4%) Est. Cost $183.99 Unrealized +92.0%

CLH CLEAN HARBORS INC 4.1%

Value $13.25M (+17.2%) Shares 46,200 (-4.1%) Est. Cost $228.49 Unrealized +15.2%

SOLS SOLSTICE ADVANCED MATLS INC 3.7%

Value $11.86M (-12.5%) Shares 155,700 (-44.2%) Est. Cost $47.08 Unrealized +38.5%

BATRK ATLANTA BRAVES HLDGS INC 3.8%

Value $12.43M (-10.0%) Shares 291,000 (-16.9%) Est. Cost $38.41 Unrealized +5.7%

TJX TJX COS INC NEW 3.2%

Value $10.22M (-2.4%) Shares 64,000 (-6.2%) Est. Cost $78.13 Unrealized +97.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LION	LIONSGATE STUDIOS CORP	2,323,099 (-28.7%)	$22.28M (-25.1%)	6.9%	$6.62	+35.6%	COM	53626N102
AER	AERCAP HOLDINGS NV	68,500 (-39.2%)	$9.397M (-41.9%)	2.9%	$79.46	+83.5%	SHS	N00985106
LINE	LINEAGE INC	133,000 (-57.6%)	$4.357M (-60.3%)	1.3%	$35.00	—	COM	53566V106
UHAL/B	U HAUL HOLDING COMPANY	290,000 (-30.0%)	$12.95M (-33.1%)	4.0%	$64.88	-23.8%	COM SER N	023586506
CELH	CELSIUS HLDGS INC	210,000 (-28.3%)	$7.451M (-44.4%)	2.3%	$50.38	+0.6%	COM NEW	15118V207
PRMB	PRIMO BRANDS CORPORATION	740,700 (-38.3%)	$13.95M (-29.0%)	4.3%	$27.02	-30.8%	CLASS A COM SHS	741623102
JBS	JBS N.V.	541,600 (-45.9%)	$9.727M (-32.7%)	3.0%	$14.14	+8.9%	CL A SHS	N4732M103
WCC	WESCO INTL INC	62,200 (-29.4%)	$17.02M (-21.0%)	5.3%	$177.20	+62.7%	COM	95082P105
QDEL	QUIDELORTHO CORP	282,600 (-8.3%)	$4.643M (-47.3%)	1.4%	$35.03	-18.9%	COM	219798105
WWD	WOODWARD INC	40,100 (-28.4%)	$14.35M (-15.2%)	4.4%	$183.99	+92.0%	COM	980745103
CLH	CLEAN HARBORS INC	46,200 (-4.1%)	$13.25M (+17.2%)	4.1%	$228.49	+15.2%	COM	184496107
SOLS	SOLSTICE ADVANCED MATLS INC	155,700 (-44.2%)	$11.86M (-12.5%)	3.7%	$47.08	+38.5%	COM SHS	83443Q103
BATRK	ATLANTA BRAVES HLDGS INC	291,000 (-16.9%)	$12.43M (-10.0%)	3.8%	$38.41	+5.7%	COM SER C	047726302
TJX	TJX COS INC NEW	64,000 (-6.2%)	$10.22M (-2.4%)	3.2%	$78.13	+97.4%	COM	872540109

Unchanged Positions (1)

LION LIONSGATE STUDIOS CORP 1.5%

Value $4.795M Shares 500,000 Est. Cost $6.62 Unrealized +35.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LION	LIONSGATE STUDIOS CORP	500,000	$4.795M	1.5%	$6.62	+35.6%	CALL	53626N102