Benchstone Capital Management LP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LYV	LIVE NATION ENTERTAINMENT IN	212,691	$30,308	3.3%	$143.72	0.0%	COM	538034109
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	116,774	$29,898	3.2%	$249.31	0.0%	COM	874054109
LUMN	LUMEN TECHNOLOGIES INC	3,500,000	$27,195	2.9%	—	—	PUT	550241103
DASH	DOORDASH INC	117,713	$26,660	2.9%	$234.56	0.0%	CL A	25809K105
SHOP	SHOPIFY INC	158,023	$25,437	2.7%	$160.56	0.0%	CL A SUB VTG SHS	82509L107
BURL	BURLINGTON STORES INC	84,894	$24,522	2.6%	$271.28	0.0%	COM	122017106
ONTO	ONTO INNOVATION INC	148,963	$23,515	2.5%	$142.02	0.0%	COM	683344105
W	WAYFAIR INC	228,226	$22,916	2.5%	$96.17	0.0%	CL A	94419L101
DIS	DISNEY WALT CO	192,840	$21,939	2.4%	$109.53	0.0%	COM	254687106
MDB	MONGODB INC	51,727	$21,709	2.3%	$363.83	0.0%	CL A	60937P106
ASML	ASML HOLDING N V	19,722	$21,100	2.3%	$1069.86	—	N Y REGISTRY SHS	N07059210
CMG	CHIPOTLE MEXICAN GRILL INC	559,026	$20,684	2.2%	$36.17	0.0%	COM	169656105
H	HYATT HOTELS CORP	116,961	$18,751	2.0%	$153.12	0.0%	COM CL A	448579102
SATS	ECHOSTAR CORP	168,657	$18,333	2.0%	$81.43	0.0%	CL A	278768106
EQIX	EQUINIX INC	23,895	$18,307	2.0%	$781.19	0.0%	COM	29444U700
ANET	ARISTA NETWORKS INC	134,652	$17,643	1.9%	$137.66	0.0%	COM SHS	040413205
TXN	TEXAS INSTRS INC	94,590	$16,410	1.8%	$170.73	0.0%	COM	882508104
UBER	UBER TECHNOLOGIES INC	187,212	$15,297	1.6%	$90.05	0.0%	COM	90353T100
RRR	RED ROCK RESORTS INC	240,733	$14,913	1.6%	$58.49	0.0%	CL A	75700L108
BYD	BOYD GAMING CORP	173,401	$14,781	1.6%	$82.27	0.0%	COM	103304101
PSKY	PARAMOUNT SKYDANCE CORP	1,000,000	$13,400	1.4%	—	—	PUT	69932A204
RCL	ROYAL CARIBBEAN GROUP	41,720	$11,637	1.3%	$281.58	0.0%	COM	V7780T103
BKNG	BOOKING HOLDINGS INC	2,160	$11,568	1.2%	$5137.84	0.0%	COM	09857L108
CMCSA	COMCAST CORP NEW	366,713	$10,961	1.2%	$28.53	0.0%	CL A	20030N101
ON	ON SEMICONDUCTOR CORP	194,080	$10,509	1.1%	$51.30	0.0%	COM	682189105
CHDN	CHURCHILL DOWNS INC	91,618	$10,424	1.1%	$103.46	0.0%	COM	171484108
SPOT	SPOTIFY TECHNOLOGY S A	17,768	$10,318	1.1%	$625.13	0.0%	SHS	L8681T102
AMD	ADVANCED MICRO DEVICES INC	46,681	$9,997	1.1%	$224.60	0.0%	COM	007903107
BROS	DUTCH BROS INC	134,584	$8,239	0.9%	$56.81	0.0%	CL A	26701L100

Increased Positions (7)

SNPS SYNOPSYS INC 4.7%

Value ($000) $43,854 (+228.8%) Shares 93,363 (+245.3%) Est. Cost $479.29 Unrealized -7.3%

AMZN AMAZON COM INC 5.1%

Value ($000) $47,494 (+93.1%) Shares 205,764 (+83.7%) Est. Cost $213.79 Unrealized +7.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 4.8%

Value ($000) $44,442 (+63.1%) Shares 146,244 (+49.9%) Est. Cost $223.43 Unrealized —

NOW SERVICENOW INC 2.3%

Value ($000) $21,078 (-43.7%) Shares 137,591 (+237.9%) Est. Cost $176.46 Unrealized -2.8%

CRM SALESFORCE INC 2.6%

Value ($000) $23,883 (+49.3%) Shares 90,157 (+33.5%) Est. Cost $296.37 Unrealized -16.3%

SNOW SNOWFLAKE INC 1.4%

Value ($000) $13,338 (+25.1%) Shares 60,804 (+28.6%) Est. Cost $186.25 Unrealized +31.1%

ORCL ORACLE CORP 2.1%

Value ($000) $19,783 (-8.7%) Shares 101,498 (+31.7%) Est. Cost $179.40 Unrealized +32.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SNPS	SYNOPSYS INC	93,363 (+245.3%)	$43,854 (+228.8%)	4.7%	$479.29	-7.3%	COM	871607107
AMZN	AMAZON COM INC	205,764 (+83.7%)	$47,494 (+93.1%)	5.1%	$213.79	+7.0%	COM	023135106
TSM	TAIWAN SEMICONDUCTOR MFG LTD	146,244 (+49.9%)	$44,442 (+63.1%)	4.8%	$223.43	—	SPONSORED ADS	874039100
NOW	SERVICENOW INC	137,591 (+237.9%)	$21,078 (-43.7%)	2.3%	$176.46	-2.8%	COM	81762P102
CRM	SALESFORCE INC	90,157 (+33.5%)	$23,883 (+49.3%)	2.6%	$296.37	-16.3%	COM	79466L302
SNOW	SNOWFLAKE INC	60,804 (+28.6%)	$13,338 (+25.1%)	1.4%	$186.25	+31.1%	COM SHS	833445109
ORCL	ORACLE CORP	101,498 (+31.7%)	$19,783 (-8.7%)	2.1%	$179.40	+32.7%	COM	68389X105

Exited Positions (11)

MSFT MICROSOFT CORP 6.2%

Value ($000) $57,551 Shares 111,114 Est. Cost $438.37 Unrealized +14.2%

NCLH NORWEGIAN CRUISE LINE HLDG L 5.7%

Value ($000) $52,544 Shares 2,133,322 Est. Cost $24.94 Unrealized -15.3%

MCD MCDONALDS CORP 5.3%

Value ($000) $49,640 Shares 163,348 Est. Cost $296.88 Unrealized +2.8%

NVDA NVIDIA CORPORATION 3.7%

Value ($000) $34,593 Shares 185,407 Est. Cost $125.82 Unrealized +47.9%

AMT AMERICAN TOWER CORP NEW 3.2%

Value ($000) $29,932 Shares 155,638 Est. Cost $199.57 Unrealized -9.7%

LBRDK LIBERTY BROADBAND CORP 2.2%

Value ($000) $20,327 Shares 319,911 Est. Cost $78.06 Unrealized -33.4%

WBD WARNER BROS DISCOVERY INC 2.2%

Value ($000) $20,050 Shares 1,026,645 Est. Cost $13.62 Unrealized +71.6%

MNDY MONDAY COM LTD 2.0%

Value ($000) $18,940 Shares 97,787 Est. Cost $269.39 Unrealized -37.5%

NFLX NETFLIX INC 1.1%

Value ($000) $10,047 Shares 8,380 Est. Cost $97.96 Unrealized +10.1%

SMPL SIMPLY GOOD FOODS CO 0.5%

Value ($000) $4,490 Shares 180,899 Est. Cost $34.78 Unrealized -40.2%

MRVL MARVELL TECHNOLOGY INC 0.1%

Value ($000) $1,004 Shares 11,947 Est. Cost $73.50 Unrealized +19.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	111,114	$57,551	6.2%	$438.37	+14.2%	—	594918104
NCLH	NORWEGIAN CRUISE LINE HLDG L	2,133,322	$52,544	5.7%	$24.94	-15.3%	—	G66721104
MCD	MCDONALDS CORP	163,348	$49,640	5.3%	$296.88	+2.8%	—	580135101
NVDA	NVIDIA CORPORATION	185,407	$34,593	3.7%	$125.82	+47.9%	—	67066G104
AMT	AMERICAN TOWER CORP NEW	155,638	$29,932	3.2%	$199.57	-9.7%	—	03027X100
LBRDK	LIBERTY BROADBAND CORP	319,911	$20,327	2.2%	$78.06	-33.4%	—	530307305
WBD	WARNER BROS DISCOVERY INC	1,026,645	$20,050	2.2%	$13.62	+71.6%	—	934423104
MNDY	MONDAY COM LTD	97,787	$18,940	2.0%	$269.39	-37.5%	—	M7S64H106
NFLX	NETFLIX INC	8,380	$10,047	1.1%	$97.96	+10.1%	—	64110L106
SMPL	SIMPLY GOOD FOODS CO	180,899	$4,490	0.5%	$34.78	-40.2%	—	82900L102
MRVL	MARVELL TECHNOLOGY INC	11,947	$1,004	0.1%	$73.50	+19.0%	—	573874104

Decreased Positions (8)

ROST ROSS STORES INC 1.1%

Value ($000) $10,049 (-74.7%) Shares 55,785 (-78.6%) Est. Cost $138.30 Unrealized +20.5%

HD HOME DEPOT INC 2.8%

Value ($000) $26,259 (-38.1%) Shares 76,313 (-27.1%) Est. Cost $389.16 Unrealized -6.3%

AVGO BROADCOM INC 2.1%

Value ($000) $19,932 (-37.6%) Shares 57,591 (-40.5%) Est. Cost $305.74 Unrealized +16.8%

HPE HEWLETT PACKARD ENTERPRISE C 1.4%

Value ($000) $13,124 (-42.8%) Shares 546,395 (-41.5%) Est. Cost $21.88 Unrealized +7.1%

FWONK LIBERTY MEDIA CORP DEL 4.4%

Value ($000) $40,494 (-18.8%) Shares 411,064 (-13.9%) Est. Cost $95.43 Unrealized —

TSEM TOWER SEMICONDUCTOR LTD 1.2%

Value ($000) $11,299 (-34.4%) Shares 96,225 (-59.6%) Est. Cost $54.61 Unrealized +76.4%

AMAT APPLIED MATLS INC 1.4%

Value ($000) $12,843 (-25.5%) Shares 49,976 (-40.7%) Est. Cost $180.78 Unrealized +32.5%

TEAM ATLASSIAN CORPORATION 1.2%

Value ($000) $10,709 (-27.7%) Shares 66,049 (-28.7%) Est. Cost $228.38 Unrealized -31.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ROST	ROSS STORES INC	55,785 (-78.6%)	$10,049 (-74.7%)	1.1%	$138.30	+20.5%	COM	778296103
HD	HOME DEPOT INC	76,313 (-27.1%)	$26,259 (-38.1%)	2.8%	$389.16	-6.3%	COM	437076102
AVGO	BROADCOM INC	57,591 (-40.5%)	$19,932 (-37.6%)	2.1%	$305.74	+16.8%	COM	11135F101
HPE	HEWLETT PACKARD ENTERPRISE C	546,395 (-41.5%)	$13,124 (-42.8%)	1.4%	$21.88	+7.1%	COM	42824C109
FWONK	LIBERTY MEDIA CORP DEL	411,064 (-13.9%)	$40,494 (-18.8%)	4.4%	$95.43	—	COM LBTY ONE S C	531229755
TSEM	TOWER SEMICONDUCTOR LTD	96,225 (-59.6%)	$11,299 (-34.4%)	1.2%	$54.61	+76.4%	SHS NEW	M87915274
AMAT	APPLIED MATLS INC	49,976 (-40.7%)	$12,843 (-25.5%)	1.4%	$180.78	+32.5%	COM	038222105
TEAM	ATLASSIAN CORPORATION	66,049 (-28.7%)	$10,709 (-27.7%)	1.2%	$228.38	-31.3%	CL A	049468101

Unchanged Positions (1)

META META PLATFORMS INC 4.6%

Value ($000) $42,517 Shares 64,411 Est. Cost $624.70 Unrealized +6.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC	64,411	$42,517	4.6%	$624.70	+6.8%	CL A	30303M102