Gunderson Capital Management Inc. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	33,070	$9,439	4.3%	$229.35	0.0%	COM	595112103
B	BARRICK MNG CORP	206,353	$8,987	4.1%	$37.42	0.0%	COM SHS	06849F108
WDC	WESTERN DIGITAL CORP	44,801	$7,718	3.5%	$151.55	0.0%	COM	958102105
AVGO	BROADCOM INC	22,186	$7,679	3.5%	$357.00	0.0%	COM	11135F101
C	CITIGROUP INC	61,405	$7,165	3.2%	$103.64	0.0%	COM NEW	172967424
TSLA	TESLA INC	13,240	$5,954	2.7%	$443.29	0.0%	COM	88160R101
RWM	PROSHARES TR	310,569	$5,084	2.3%	$16.37	—	SHRT RUSSELL2000	74348A210
SARK	INVESTMENT MANAGERS SER TR I	134,588	$4,071	1.8%	$30.25	—	TRADR 1X SHORT	46144X131
LRCX	LAM RESEARCH CORP	23,054	$3,946	1.8%	$155.36	0.0%	COM NEW	512807306
MA	MASTERCARD INCORPORATED	6,754	$3,856	1.7%	$558.95	0.0%	CL A	57636Q104
MP	MP MATERIALS CORP	62,708	$3,168	1.4%	$63.41	0.0%	COM CL A	553368101
SNOW	SNOWFLAKE INC	14,070	$3,086	1.4%	$244.09	0.0%	COM SHS	833445109
ADI	ANALOG DEVICES INC	7,750	$2,102	0.9%	$250.62	0.0%	COM	032654105
GOOG	ALPHABET INC	2,784	$874	0.4%	$286.33	0.0%	CAP STK CL C	02079K107

Increased Positions (16)

AMD ADVANCED MICRO DEVICES INC 4.0%

Value ($000) $8,876 (+331.0%) Shares 41,444 (+225.6%) Est. Cost $191.59 Unrealized +17.2%

AEM AGNICO EAGLE MINES LTD 3.7%

Value ($000) $8,155 (+189.3%) Shares 48,104 (+187.6%) Est. Cost $149.55 Unrealized +12.2%

ASML ASML HOLDING N V 3.3%

Value ($000) $7,392 (+89.6%) Shares 6,909 (+71.6%) Est. Cost $959.39 Unrealized —

GOOGL ALPHABET INC 5.6%

Value ($000) $12,332 (+38.6%) Shares 39,400 (+7.6%) Est. Cost $214.61 Unrealized +33.1%

LLY ELI LILLY & CO 4.2%

Value ($000) $9,403 (+53.2%) Shares 8,749 (+8.7%) Est. Cost $763.19 Unrealized +25.2%

EMBJ EMBRAER S.A. 1.8%

Value ($000) $3,896 (+434.7%) Shares 60,528 (+402.1%) Est. Cost $63.59 Unrealized —

GLD SPDR GOLD TR 5.9%

Value ($000) $13,027 (+24.0%) Shares 32,870 (+11.2%) Est. Cost $295.95 Unrealized —

GE GE AEROSPACE 3.4%

Value ($000) $7,580 (+26.3%) Shares 24,609 (+23.3%) Est. Cost $278.00 Unrealized +8.2%

CEG CONSTELLATION ENERGY CORP 3.5%

Value ($000) $7,844 (+17.2%) Shares 22,204 (+9.2%) Est. Cost $272.19 Unrealized +33.4%

TSM TAIWAN SEMICONDUCTOR MFG LTD 4.7%

Value ($000) $10,337 (+10.8%) Shares 34,016 (+1.9%) Est. Cost $230.05 Unrealized —

AAPL APPLE INC 1.1%

Value ($000) $2,355 (+67.2%) Shares 8,664 (+56.6%) Est. Cost $220.22 Unrealized +21.8%

AMZN AMAZON COM INC 1.8%

Value ($000) $3,894 (+20.2%) Shares 16,872 (+14.4%) Est. Cost $210.30 Unrealized +8.8%

GEV GE VERNOVA INC 3.1%

Value ($000) $6,870 (+9.8%) Shares 10,511 (+3.3%) Est. Cost $605.64 Unrealized +0.6%

IVV ISHARES TR 0.2%

Value ($000) $358 (+62.9%) Shares 522 (+59.1%) Est. Cost $675.11 Unrealized —

QQQ INVESCO QQQ TR 0.1%

Value ($000) $265 (+7.8%) Shares 431 (+5.4%) Est. Cost $601.08 Unrealized —

COST COSTCO WHSL CORP NEW 0.2%

Value ($000) $397 (-4.3%) Shares 460 (+2.7%) Est. Cost $838.98 Unrealized +8.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMD	ADVANCED MICRO DEVICES INC	41,444 (+225.6%)	$8,876 (+331.0%)	4.0%	$191.59	+17.2%	COM	007903107
AEM	AGNICO EAGLE MINES LTD	48,104 (+187.6%)	$8,155 (+189.3%)	3.7%	$149.55	+12.2%	COM	008474108
ASML	ASML HOLDING N V	6,909 (+71.6%)	$7,392 (+89.6%)	3.3%	$959.39	—	N Y REGISTRY SHS	N07059210
GOOGL	ALPHABET INC	39,400 (+7.6%)	$12,332 (+38.6%)	5.6%	$214.61	+33.1%	CAP STK CL A	02079K305
LLY	ELI LILLY & CO	8,749 (+8.7%)	$9,403 (+53.2%)	4.2%	$763.19	+25.2%	COM	532457108
EMBJ	EMBRAER S.A.	60,528 (+402.1%)	$3,896 (+434.7%)	1.8%	$63.59	—	SPONSORED ADS	29082A107
GLD	SPDR GOLD TR	32,870 (+11.2%)	$13,027 (+24.0%)	5.9%	$295.95	—	GOLD SHS	78463V107
GE	GE AEROSPACE	24,609 (+23.3%)	$7,580 (+26.3%)	3.4%	$278.00	+8.2%	COM NEW	369604301
CEG	CONSTELLATION ENERGY CORP	22,204 (+9.2%)	$7,844 (+17.2%)	3.5%	$272.19	+33.4%	COM	21037T109
TSM	TAIWAN SEMICONDUCTOR MFG LTD	34,016 (+1.9%)	$10,337 (+10.8%)	4.7%	$230.05	—	SPONSORED ADS	874039100
AAPL	APPLE INC	8,664 (+56.6%)	$2,355 (+67.2%)	1.1%	$220.22	+21.8%	COM	037833100
AMZN	AMAZON COM INC	16,872 (+14.4%)	$3,894 (+20.2%)	1.8%	$210.30	+8.8%	COM	023135106
GEV	GE VERNOVA INC	10,511 (+3.3%)	$6,870 (+9.8%)	3.1%	$605.64	+0.6%	COM	36828A101
IVV	ISHARES TR	522 (+59.1%)	$358 (+62.9%)	0.2%	$675.11	—	CORE S&P500 ETF	464287200
QQQ	INVESCO QQQ TR	431 (+5.4%)	$265 (+7.8%)	0.1%	$601.08	—	UNIT SER 1	46090E103
COST	COSTCO WHSL CORP NEW	460 (+2.7%)	$397 (-4.3%)	0.2%	$838.98	+8.0%	COM	22160K105

Exited Positions (27)

NFLX NETFLIX INC 6.0%

Value ($000) $13,381 Shares 11,161 Est. Cost $67.87 Unrealized +58.8%

HSBC HSBC HLDGS PLC 5.2%

Value ($000) $11,492 Shares 161,909 Est. Cost $57.43 Unrealized —

TMUS T-MOBILE US INC 4.4%

Value ($000) $9,795 Shares 40,920 Est. Cost $243.03 Unrealized -13.0%

ANET ARISTA NETWORKS INC 4.3%

Value ($000) $9,433 Shares 64,741 Est. Cost $107.85 Unrealized +27.6%

UBER UBER TECHNOLOGIES INC 4.1%

Value ($000) $9,015 Shares 92,019 Est. Cost $83.64 Unrealized +7.7%

SPOT SPOTIFY TECHNOLOGY S A 3.9%

Value ($000) $8,651 Shares 12,394 Est. Cost $496.36 Unrealized +25.9%

DASH DOORDASH INC 3.6%

Value ($000) $8,046 Shares 29,581 Est. Cost $229.13 Unrealized +2.4%

GS GOLDMAN SACHS GROUP INC 3.6%

Value ($000) $7,999 Shares 10,045 Est. Cost $590.71 Unrealized +37.7%

BABA ALIBABA GROUP HLDG LTD 3.5%

Value ($000) $7,716 Shares 43,172 Est. Cost $178.73 Unrealized —

SHOP SHOPIFY INC 3.1%

Value ($000) $6,894 Shares 46,393 Est. Cost $135.57 Unrealized +18.4%

HOOD ROBINHOOD MKTS INC 2.4%

Value ($000) $5,214 Shares 36,418 Est. Cost $47.54 Unrealized +173.5%

TLN TALEN ENERGY CORP 2.1%

Value ($000) $4,588 Shares 10,785 Est. Cost $240.74 Unrealized +61.5%

VRT VERTIV HOLDINGS CO 1.7%

Value ($000) $3,666 Shares 24,303 Est. Cost $133.31 Unrealized +30.2%

PDD PDD HOLDINGS INC 1.6%

Value ($000) $3,592 Shares 27,180 Est. Cost $131.13 Unrealized —

BKNG BOOKING HOLDINGS INC 1.6%

Value ($000) $3,520 Shares 652 Est. Cost $5094.53 Unrealized +0.9%

PWR QUANTA SVCS INC 1.6%

Value ($000) $3,483 Shares 8,404 Est. Cost $388.50 Unrealized +13.1%

IBKR INTERACTIVE BROKERS GROUP IN 1.6%

Value ($000) $3,473 Shares 50,472 Est. Cost $62.79 Unrealized +6.5%

MSFT MICROSOFT CORP 1.5%

Value ($000) $3,433 Shares 6,628 Est. Cost $421.47 Unrealized +18.8%

EME EMCOR GROUP INC 1.4%

Value ($000) $3,124 Shares 4,809 Est. Cost $440.85 Unrealized +46.9%

LNG CHENIERE ENERGY INC 1.4%

Value ($000) $3,069 Shares 13,059 Est. Cost $235.04 Unrealized -10.7%

MRVL MARVELL TECHNOLOGY INC 1.3%

Value ($000) $2,840 Shares 33,783 Est. Cost $73.50 Unrealized +19.0%

HWM HOWMET AEROSPACE INC 0.9%

Value ($000) $2,096 Shares 10,679 Est. Cost $126.73 Unrealized +57.0%

NTES NETEASE INC 0.9%

Value ($000) $1,953 Shares 12,851 Est. Cost $151.99 Unrealized —

CMG CHIPOTLE MEXICAN GRILL INC 0.2%

Value ($000) $430 Shares 10,982 Est. Cost $45.03 Unrealized -19.7%

BKLC BNY MELLON ETF TRUST 0.2%

Value ($000) $409 Shares 3,185 Est. Cost $128.38 Unrealized —

BTU PEABODY ENERGY CORP 0.1%

Value ($000) $260 Shares 9,804 Est. Cost $17.75 Unrealized +65.4%

BITB BITWISE BITCOIN ETF TR 0.1%

Value ($000) $256 Shares 4,120 Est. Cost $38.33 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC	11,161	$13,381	6.0%	$67.87	+58.8%	—	64110L106
HSBC	HSBC HLDGS PLC	161,909	$11,492	5.2%	$57.43	—	—	404280406
TMUS	T-MOBILE US INC	40,920	$9,795	4.4%	$243.03	-13.0%	—	872590104
ANET	ARISTA NETWORKS INC	64,741	$9,433	4.3%	$107.85	+27.6%	—	040413205
UBER	UBER TECHNOLOGIES INC	92,019	$9,015	4.1%	$83.64	+7.7%	—	90353T100
SPOT	SPOTIFY TECHNOLOGY S A	12,394	$8,651	3.9%	$496.36	+25.9%	—	L8681T102
DASH	DOORDASH INC	29,581	$8,046	3.6%	$229.13	+2.4%	—	25809K105
GS	GOLDMAN SACHS GROUP INC	10,045	$7,999	3.6%	$590.71	+37.7%	—	38141G104
BABA	ALIBABA GROUP HLDG LTD	43,172	$7,716	3.5%	$178.73	—	—	01609W102
SHOP	SHOPIFY INC	46,393	$6,894	3.1%	$135.57	+18.4%	—	82509L107
HOOD	ROBINHOOD MKTS INC	36,418	$5,214	2.4%	$47.54	+173.5%	—	770700102
TLN	TALEN ENERGY CORP	10,785	$4,588	2.1%	$240.74	+61.5%	—	87422Q109
VRT	VERTIV HOLDINGS CO	24,303	$3,666	1.7%	$133.31	+30.2%	—	92537N108
PDD	PDD HOLDINGS INC	27,180	$3,592	1.6%	$131.13	—	—	722304102
BKNG	BOOKING HOLDINGS INC	652	$3,520	1.6%	$5094.53	+0.9%	—	09857L108
PWR	QUANTA SVCS INC	8,404	$3,483	1.6%	$388.50	+13.1%	—	74762E102
IBKR	INTERACTIVE BROKERS GROUP IN	50,472	$3,473	1.6%	$62.79	+6.5%	—	45841N107
MSFT	MICROSOFT CORP	6,628	$3,433	1.5%	$421.47	+18.8%	—	594918104
EME	EMCOR GROUP INC	4,809	$3,124	1.4%	$440.85	+46.9%	—	29084Q100
LNG	CHENIERE ENERGY INC	13,059	$3,069	1.4%	$235.04	-10.7%	—	16411R208
MRVL	MARVELL TECHNOLOGY INC	33,783	$2,840	1.3%	$73.50	+19.0%	—	573874104
HWM	HOWMET AEROSPACE INC	10,679	$2,096	0.9%	$126.73	+57.0%	—	443201108
NTES	NETEASE INC	12,851	$1,953	0.9%	$151.99	—	—	64110W102
CMG	CHIPOTLE MEXICAN GRILL INC	10,982	$430	0.2%	$45.03	-19.7%	—	169656105
BKLC	BNY MELLON ETF TRUST	3,185	$409	0.2%	$128.38	—	—	09661T107
BTU	PEABODY ENERGY CORP	9,804	$260	0.1%	$17.75	+65.4%	—	704551100
BITB	BITWISE BITCOIN ETF TR	4,120	$256	0.1%	$38.33	—	—	09174C104

Decreased Positions (8)

NVDA NVIDIA CORPORATION 5.3%

Value ($000) $11,671 (-42.3%) Shares 62,580 (-42.3%) Est. Cost $94.43 Unrealized +97.1%

META META PLATFORMS INC 3.5%

Value ($000) $7,685 (-43.7%) Shares 11,643 (-37.4%) Est. Cost $349.12 Unrealized +91.1%

PLTR PALANTIR TECHNOLOGIES INC 3.3%

Value ($000) $7,228 (-21.0%) Shares 40,666 (-18.9%) Est. Cost $47.86 Unrealized +278.2%

AFRM AFFIRM HLDGS INC 0.3%

Value ($000) $745 (-72.0%) Shares 10,006 (-72.5%) Est. Cost $76.10 Unrealized -5.4%

VST VISTRA CORP 2.7%

Value ($000) $6,007 (-19.0%) Shares 37,235 (-1.6%) Est. Cost $150.07 Unrealized +21.2%

IAU ISHARES GOLD TR 2.2%

Value ($000) $4,856 (+9.7%) Shares 59,824 (-1.6%) Est. Cost $58.96 Unrealized —

CCJ CAMECO CORP 2.6%

Value ($000) $5,854 (+7.1%) Shares 63,983 (-1.8%) Est. Cost $70.82 Unrealized +27.0%

BEP BROOKFIELD RENEWABLE PARTNER 0.7%

Value ($000) $1,484 (+2.4%) Shares 55,032 (-2.0%) Est. Cost $25.51 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	62,580 (-42.3%)	$11,671 (-42.3%)	5.3%	$94.43	+97.1%	COM	67066G104
META	META PLATFORMS INC	11,643 (-37.4%)	$7,685 (-43.7%)	3.5%	$349.12	+91.1%	CL A	30303M102
PLTR	PALANTIR TECHNOLOGIES INC	40,666 (-18.9%)	$7,228 (-21.0%)	3.3%	$47.86	+278.2%	CL A	69608A108
AFRM	AFFIRM HLDGS INC	10,006 (-72.5%)	$745 (-72.0%)	0.3%	$76.10	-5.4%	COM CL A	00827B106
VST	VISTRA CORP	37,235 (-1.6%)	$6,007 (-19.0%)	2.7%	$150.07	+21.2%	COM	92840M102
IAU	ISHARES GOLD TR	59,824 (-1.6%)	$4,856 (+9.7%)	2.2%	$58.96	—	ISHARES NEW	464285204
CCJ	CAMECO CORP	63,983 (-1.8%)	$5,854 (+7.1%)	2.6%	$70.82	+27.0%	COM	13321L108
BEP	BROOKFIELD RENEWABLE PARTNER	55,032 (-2.0%)	$1,484 (+2.4%)	0.7%	$25.51	—	PARTNERSHIP UNIT	G16258108

Unchanged Positions (2)

ETN EATON CORP PLC 0.1%

Value ($000) $233 Shares 730 Est. Cost $306.71 Unrealized +15.5%

ICCM ICECURE MEDICAL LTD CAESAREA 0.0%

Value ($000) $12 Shares 20,000 Est. Cost $1.07 Unrealized -30.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ETN	EATON CORP PLC	730	$233	0.1%	$306.71	+15.5%	SHS	G29183103
ICCM	ICECURE MEDICAL LTD CAESAREA	20,000	$12	0.0%	$1.07	-30.2%	SHS NEW	M53071136