Kinetic Partners Management, LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NTRA	NATERA INC	273,300	$62,610	3.0%	$208.59	0.0%	COM	632307104
SOLS	SOLSTICE ADVANCED MATLS INC	1,222,400	$59,384	2.9%	$47.08	0.0%	COM SHS	83443Q103
AGX	ARGAN INC	117,000	$36,658	1.8%	$316.84	0.0%	COM	04010E109
JHX	JAMES HARDIE INDS PLC	1,270,000	$26,353	1.3%	$20.06	0.0%	ORD SHS	G4253H101
AMD	ADVANCED MICRO DEVICES INC	98,900	$21,180	1.0%	$224.60	0.0%	COM	007903107
CRWV	COREWEAVE INC	218,700	$15,661	0.8%	$101.39	0.0%	COM CL A	21873S108
SNOW	SNOWFLAKE INC	49,800	$10,924	0.5%	$244.09	0.0%	COM SHS	833445109

Increased Positions (15)

AVGO BROADCOM INC 4.7%

Value ($000) $97,254 (+123.5%) Shares 281,000 (+113.0%) Est. Cost $278.10 Unrealized +28.4%

GOOG ALPHABET INC 4.7%

Value ($000) $97,027 (+74.3%) Shares 309,200 (+35.3%) Est. Cost $213.79 Unrealized +33.9%

WWD WOODWARD INC 3.9%

Value ($000) $79,691 (+40.9%) Shares 263,598 (+17.8%) Est. Cost $251.91 Unrealized +9.1%

NVDA NVIDIA CORPORATION 8.0%

Value ($000) $164,852 (+15.4%) Shares 883,925 (+15.5%) Est. Cost $133.64 Unrealized +39.3%

SITE SITEONE LANDSCAPE SUPPLY INC 1.9%

Value ($000) $39,856 (+96.5%) Shares 319,975 (+103.2%) Est. Cost $131.07 Unrealized -3.4%

MSFT MICROSOFT CORP 5.2%

Value ($000) $106,726 (+20.0%) Shares 220,681 (+28.5%) Est. Cost $430.97 Unrealized +16.2%

DIS DISNEY WALT CO 4.1%

Value ($000) $83,732 (+25.3%) Shares 735,973 (+26.1%) Est. Cost $105.60 Unrealized +3.7%

SHOP SHOPIFY INC 0.9%

Value ($000) $18,290 (+227.1%) Shares 113,626 (+202.0%) Est. Cost $142.49 Unrealized +12.7%

SGI SOMNIGROUP INTERNATIONAL INC 1.1%

Value ($000) $22,315 (+98.4%) Shares 249,949 (+87.4%) Est. Cost $63.11 Unrealized +38.4%

SE SEA LTD 5.8%

Value ($000) $120,051 (+9.8%) Shares 941,056 (+53.8%) Est. Cost $131.84 Unrealized —

FROG JFROG LTD 1.5%

Value ($000) $30,632 (+44.8%) Shares 490,427 (+9.7%) Est. Cost $46.21 Unrealized +23.1%

NFLX NETFLIX INC 0.9%

Value ($000) $18,307 (+66.0%) Shares 195,250 (+2022.3%) Est. Cost $106.36 Unrealized +1.4%

CPNG COUPANG INC 1.5%

Value ($000) $30,459 (+28.8%) Shares 1,291,200 (+75.8%) Est. Cost $29.46 Unrealized -3.4%

PFSI PENNYMAC FINL SVCS INC NEW 0.8%

Value ($000) $16,599 (+52.3%) Shares 125,900 (+43.1%) Est. Cost $108.50 Unrealized +16.9%

NCNO NCINO INC 1.2%

Value ($000) $24,332 (+28.4%) Shares 949,000 (+35.8%) Est. Cost $26.56 Unrealized -4.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	281,000 (+113.0%)	$97,254 (+123.5%)	4.7%	$278.10	+28.4%	COM	11135F101
GOOG	ALPHABET INC	309,200 (+35.3%)	$97,027 (+74.3%)	4.7%	$213.79	+33.9%	CAP STK CL C	02079K107
WWD	WOODWARD INC	263,598 (+17.8%)	$79,691 (+40.9%)	3.9%	$251.91	+9.1%	COM	980745103
NVDA	NVIDIA CORPORATION	883,925 (+15.5%)	$164,852 (+15.4%)	8.0%	$133.64	+39.3%	COM	67066G104
SITE	SITEONE LANDSCAPE SUPPLY INC	319,975 (+103.2%)	$39,856 (+96.5%)	1.9%	$131.07	-3.4%	COM	82982L103
MSFT	MICROSOFT CORP	220,681 (+28.5%)	$106,726 (+20.0%)	5.2%	$430.97	+16.2%	COM	594918104
DIS	DISNEY WALT CO	735,973 (+26.1%)	$83,732 (+25.3%)	4.1%	$105.60	+3.7%	COM	254687106
SHOP	SHOPIFY INC	113,626 (+202.0%)	$18,290 (+227.1%)	0.9%	$142.49	+12.7%	CL A SUB VTG SHS	82509L107
SGI	SOMNIGROUP INTERNATIONAL INC	249,949 (+87.4%)	$22,315 (+98.4%)	1.1%	$63.11	+38.4%	COM	88023U101
SE	SEA LTD	941,056 (+53.8%)	$120,051 (+9.8%)	5.8%	$131.84	—	SPONSORD ADS	81141R100
FROG	JFROG LTD	490,427 (+9.7%)	$30,632 (+44.8%)	1.5%	$46.21	+23.1%	ORD SHS	M6191J100
NFLX	NETFLIX INC	195,250 (+2022.3%)	$18,307 (+66.0%)	0.9%	$106.36	+1.4%	COM	64110L106
CPNG	COUPANG INC	1,291,200 (+75.8%)	$30,459 (+28.8%)	1.5%	$29.46	-3.4%	CL A	22266T109
PFSI	PENNYMAC FINL SVCS INC NEW	125,900 (+43.1%)	$16,599 (+52.3%)	0.8%	$108.50	+16.9%	COM	70932M107
NCNO	NCINO INC	949,000 (+35.8%)	$24,332 (+28.4%)	1.2%	$26.56	-4.4%	COM	63947X101

Exited Positions (5)

WBD WARNER BROS DISCOVERY INC 2.2%

Value ($000) $45,225 Shares 2,315,671 Est. Cost $13.62 Unrealized +71.6%

CNM CORE & MAIN INC 0.8%

Value ($000) $17,113 Shares 317,900 Est. Cost $60.57 Unrealized -15.3%

AER AERCAP HOLDINGS NV 0.8%

Value ($000) $16,450 Shares 135,953 Est. Cost $87.29 Unrealized +51.7%

ATI ATI INC 0.5%

Value ($000) $10,802 Shares 132,800 Est. Cost $68.45 Unrealized +42.4%

BKNG BOOKING HOLDINGS INC 0.2%

Value ($000) $4,978 Shares 922 Est. Cost $4086.74 Unrealized +25.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WBD	WARNER BROS DISCOVERY INC	2,315,671	$45,225	2.2%	$13.62	+71.6%	—	934423104
CNM	CORE & MAIN INC	317,900	$17,113	0.8%	$60.57	-15.3%	—	21874C102
AER	AERCAP HOLDINGS NV	135,953	$16,450	0.8%	$87.29	+51.7%	—	N00985106
ATI	ATI INC	132,800	$10,802	0.5%	$68.45	+42.4%	—	01741R102
BKNG	BOOKING HOLDINGS INC	922	$4,978	0.2%	$4086.74	+25.7%	—	09857L108

Decreased Positions (21)

META META PLATFORMS INC 0.9%

Value ($000) $17,710 (-73.8%) Shares 26,830 (-70.9%) Est. Cost $743.23 Unrealized -10.2%

INTU INTUIT 0.6%

Value ($000) $11,631 (-77.6%) Shares 17,559 (-76.9%) Est. Cost $611.52 Unrealized +8.0%

LPX LOUISIANA PAC CORP 1.8%

Value ($000) $36,164 (-52.2%) Shares 447,795 (-47.4%) Est. Cost $87.53 Unrealized -3.5%

OWL BLUE OWL CAPITAL INC 0.6%

Value ($000) $12,110 (-74.2%) Shares 810,548 (-70.7%) Est. Cost $17.59 Unrealized -11.1%

AMZN AMAZON COM INC 6.7%

Value ($000) $138,873 (-20.0%) Shares 601,652 (-23.9%) Est. Cost $145.93 Unrealized +56.8%

DASH DOORDASH INC 2.3%

Value ($000) $47,648 (-40.4%) Shares 210,386 (-28.4%) Est. Cost $69.97 Unrealized +235.3%

APP APPLOVIN CORP 2.9%

Value ($000) $60,109 (-34.7%) Shares 89,206 (-30.4%) Est. Cost $117.02 Unrealized +438.5%

ORCL ORACLE CORP 0.2%

Value ($000) $3,742 (-88.8%) Shares 19,200 (-83.8%) Est. Cost $254.17 Unrealized -6.3%

FERG FERGUSON ENTERPRISES INC 2.7%

Value ($000) $54,767 (-30.1%) Shares 246,000 (-29.5%) Est. Cost $198.08 Unrealized +20.1%

CVNA CARVANA CO 3.1%

Value ($000) $63,387 (-25.4%) Shares 150,199 (-33.3%) Est. Cost $187.65 Unrealized +98.1%

SPOT SPOTIFY TECHNOLOGY S A 2.6%

Value ($000) $53,135 (-22.7%) Shares 91,500 (-7.1%) Est. Cost $671.56 Unrealized -6.9%

CRS CARPENTER TECHNOLOGY CORP 3.9%

Value ($000) $81,166 (-14.5%) Shares 257,800 (-33.3%) Est. Cost $222.53 Unrealized +35.1%

RDDT REDDIT INC 1.7%

Value ($000) $35,988 (-25.2%) Shares 156,560 (-25.1%) Est. Cost $204.09 Unrealized +3.0%

SHW SHERWIN WILLIAMS CO 0.3%

Value ($000) $5,390 (-67.7%) Shares 16,633 (-65.5%) Est. Cost $346.31 Unrealized -3.5%

AEO AMERICAN EAGLE OUTFITTERS IN 0.4%

Value ($000) $7,998 (-45.3%) Shares 303,300 (-64.5%) Est. Cost $13.49 Unrealized +45.7%

MDB MONGODB INC 2.7%

Value ($000) $54,798 (-9.8%) Shares 130,567 (-33.3%) Est. Cost $227.32 Unrealized +60.1%

GEV GE VERNOVA INC 0.3%

Value ($000) $5,859 (-47.5%) Shares 8,965 (-50.6%) Est. Cost $147.84 Unrealized +312.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 5.2%

Value ($000) $106,645 (+5.2%) Shares 350,934 (-3.3%) Est. Cost $170.09 Unrealized —

GTM ZOOMINFO TECHNOLOGIES INC 0.5%

Value ($000) $10,643 (-26.0%) Shares 1,046,480 (-20.6%) Est. Cost $13.72 Unrealized -25.0%

STX SEAGATE TECHNOLOGY HLDNGS PL 1.3%

Value ($000) $26,217 (+10.7%) Shares 95,200 (-5.1%) Est. Cost $169.71 Unrealized +52.6%

TSLA TESLA INC 0.3%

Value ($000) $5,688 (-26.7%) Shares 12,648 (-27.5%) Est. Cost $321.74 Unrealized +37.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC	26,830 (-70.9%)	$17,710 (-73.8%)	0.9%	$743.23	-10.2%	CL A	30303M102
INTU	INTUIT	17,559 (-76.9%)	$11,631 (-77.6%)	0.6%	$611.52	+8.0%	COM	461202103
LPX	LOUISIANA PAC CORP	447,795 (-47.4%)	$36,164 (-52.2%)	1.8%	$87.53	-3.5%	COM	546347105
OWL	BLUE OWL CAPITAL INC	810,548 (-70.7%)	$12,110 (-74.2%)	0.6%	$17.59	-11.1%	COM CL A	09581B103
AMZN	AMAZON COM INC	601,652 (-23.9%)	$138,873 (-20.0%)	6.7%	$145.93	+56.8%	COM	023135106
DASH	DOORDASH INC	210,386 (-28.4%)	$47,648 (-40.4%)	2.3%	$69.97	+235.3%	CL A	25809K105
APP	APPLOVIN CORP	89,206 (-30.4%)	$60,109 (-34.7%)	2.9%	$117.02	+438.5%	COM CL A	03831W108
ORCL	ORACLE CORP	19,200 (-83.8%)	$3,742 (-88.8%)	0.2%	$254.17	-6.3%	COM	68389X105
FERG	FERGUSON ENTERPRISES INC	246,000 (-29.5%)	$54,767 (-30.1%)	2.7%	$198.08	+20.1%	COMMON STOCK NEW	31488V107
CVNA	CARVANA CO	150,199 (-33.3%)	$63,387 (-25.4%)	3.1%	$187.65	+98.1%	CL A	146869102
SPOT	SPOTIFY TECHNOLOGY S A	91,500 (-7.1%)	$53,135 (-22.7%)	2.6%	$671.56	-6.9%	SHS	L8681T102
CRS	CARPENTER TECHNOLOGY CORP	257,800 (-33.3%)	$81,166 (-14.5%)	3.9%	$222.53	+35.1%	COM	144285103
RDDT	REDDIT INC	156,560 (-25.1%)	$35,988 (-25.2%)	1.7%	$204.09	+3.0%	CL A	75734B100
SHW	SHERWIN WILLIAMS CO	16,633 (-65.5%)	$5,390 (-67.7%)	0.3%	$346.31	-3.5%	COM	824348106
AEO	AMERICAN EAGLE OUTFITTERS IN	303,300 (-64.5%)	$7,998 (-45.3%)	0.4%	$13.49	+45.7%	COM	02553E106
MDB	MONGODB INC	130,567 (-33.3%)	$54,798 (-9.8%)	2.7%	$227.32	+60.1%	CL A	60937P106
GEV	GE VERNOVA INC	8,965 (-50.6%)	$5,859 (-47.5%)	0.3%	$147.84	+312.0%	COM	36828A101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	350,934 (-3.3%)	$106,645 (+5.2%)	5.2%	$170.09	—	SPONSORED ADS	874039100
GTM	ZOOMINFO TECHNOLOGIES INC	1,046,480 (-20.6%)	$10,643 (-26.0%)	0.5%	$13.72	-25.0%	COMMON STOCK	98980F104
STX	SEAGATE TECHNOLOGY HLDNGS PL	95,200 (-5.1%)	$26,217 (+10.7%)	1.3%	$169.71	+52.6%	ORD SHS	G7997R103
TSLA	TESLA INC	12,648 (-27.5%)	$5,688 (-26.7%)	0.3%	$321.74	+37.8%	COM	88160R101

Unchanged Positions (1)

NU NU HLDGS LTD 1.9%

Value ($000) $38,795 Shares 2,317,528 Est. Cost $11.97 Unrealized +34.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NU	NU HLDGS LTD	2,317,528	$38,795	1.9%	$11.97	+34.2%	ORD SHS CL A	G6683N103