Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
PDD	PDD HOLDINGS INC	65,000	$5.066M	2.9%	$77.94	$84.16	-7.4%	SPONSORED ADS	722304102
QQQ	INVESCO QQQ TR	5,000	$3.699M	2.1%	$739.77	—	—	PUT	46090E103
SPCX	SPACE EXPLORATION TECHN CORP	20,000	$3.017M	1.7%	$150.86	—	—	PUT	84615Q103
AMZN	AMAZON COM INC	10,000	$2.491M	1.4%	$249.15	$254.08	-1.9%	COM	023135106
EXPE	EXPEDIA GROUP INC	7,500	$1.975M	1.1%	$263.36	$291.09	-9.5%	COM NEW	30212P303
TSLA	TESLA INC	5,000	$1.774M	1.0%	$354.81	—	—	PUT	88160R101
BKNG	BOOKING HOLDINGS INC	7,500	$1.222M	0.7%	$162.91	$187.94	-13.3%	COM	09857L108
APO	APOLLO GLOBAL MGMT INC	10,000	$1.161M	0.7%	$116.06	—	—	PUT	03769M106
BX	BLACKSTONE INC	10,000	$1.121M	0.6%	$112.09	—	—	PUT	09260D107

Increased Positions (3)

ASML ASML HLDG NV 6.2%

Value $10.87M (+82.1%) Shares 6,000 (+100.0%) Share Price $1811.67 Est. Cost/Share $1662.68 Unrealized @ Report Date +9.0%

TSM TAIWAN SEMICONDUCTOR MANUFAC 33.0%

Value $57.9M (+4.0%) Shares 126,930 (+8.9%) Share Price $456.19 Est. Cost/Share $304.09 Unrealized @ Report Date +50.0%

SOXX ISHARES TR 6.5%

Value $11.37M (+18.3%) Shares 20,000 (+33.3%) Share Price $568.64 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ASML	ASML HLDG NV	6,000 (+100.0%)	$10.87M (+82.1%)	6.2%	$1811.67	$1662.68	+9.0%	N Y REGISTRY SHS	N07059210
TSM	TAIWAN SEMICONDUCTOR MANUFAC	126,930 (+8.9%)	$57.9M (+4.0%)	33.0%	$456.19	$304.09	+50.0%	SPONSORED ADS	874039100
SOXX	ISHARES TR	20,000 (+33.3%)	$11.37M (+18.3%)	6.5%	$568.64	—	—	PUT	464287523

Exited Positions (6)

AMD ADVANCED MICRO DEVICES INC 3.3%

Value $5.809M Shares 10,000 Share Price $580.91 * Est. Cost/Share $409.99 Unrealized @ Report Date +49.2%

AMD ADVANCED MICRO DEVICES INC 3.3%

Value $5.809M Shares 10,000 Share Price $580.91 * Est. Cost/Share $409.99 Unrealized @ Report Date +49.2%

ALAB ASTERA LABS INC 2.8%

Value $4.83M Shares 10,000 Share Price $483.02 * Est. Cost/Share $265.37 Unrealized @ Report Date +34.1%

TME TENCENT MUSIC ENTMT GROUP 1.4%

Value $2.505M Shares 300,000 Share Price $8.35 * Est. Cost/Share $10.64 Unrealized @ Report Date -25.5%

MU MICRON TECHNOLOGY INC 1.3%

Value $2.309M Shares 2,000 Share Price $1154.29 * Est. Cost/Share $749.89 Unrealized @ Report Date +42.0%

MU MICRON TECHNOLOGY INC 0.7%

Value $1.154M Shares 1,000 Share Price $1154.29 * Est. Cost/Share $749.89 Unrealized @ Report Date +42.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMD	ADVANCED MICRO DEVICES INC	10,000	$5.809M	3.3%	$580.91 *	$409.99	+49.2%	PUT	007903107
AMD	ADVANCED MICRO DEVICES INC	10,000	$5.809M	3.3%	$580.91 *	$409.99	+49.2%	—	007903107
ALAB	ASTERA LABS INC	10,000	$4.83M	2.8%	$483.02 *	$265.37	+34.1%	—	04626A103
TME	TENCENT MUSIC ENTMT GROUP	300,000	$2.505M	1.4%	$8.35 *	$10.64	-25.5%	—	88034P109
MU	MICRON TECHNOLOGY INC	2,000	$2.309M	1.3%	$1154.29 *	$749.89	+42.0%	—	595112103
MU	MICRON TECHNOLOGY INC	1,000	$1.154M	0.7%	$1154.29 *	$749.89	+42.0%	PUT	595112103

Decreased Positions (4)

AMAT APPLIED MATLS INC 0.9%

Value $1.534M (-87.5%) Shares 3,000 (-82.4%) Share Price $511.38 Est. Cost/Share $461.39 Unrealized @ Report Date +10.8%

TSM TAIWAN SEMICONDUCTOR MANUFAC 7.8%

Value $13.69M (-42.7%) Shares 30,000 (-40.0%) Share Price $456.19 Est. Cost/Share $304.09 Unrealized @ Report Date +50.0%

AVGO BROADCOM INC 1.5%

Value $2.634M (-65.1%) Shares 7,500 (-62.5%) Share Price $351.19 Est. Cost/Share $400.96 Unrealized @ Report Date -12.4%

NVDA NVIDIA CORPORATION 5.9%

Value $10.3M (-20.9%) Shares 45,080 (-30.7%) Share Price $228.38 Est. Cost/Share $185.93 Unrealized @ Report Date +22.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMAT	APPLIED MATLS INC	3,000 (-82.4%)	$1.534M (-87.5%)	0.9%	$511.38	$461.39	+10.8%	COM	038222105
TSM	TAIWAN SEMICONDUCTOR MANUFAC	30,000 (-40.0%)	$13.69M (-42.7%)	7.8%	$456.19	$304.09	+50.0%	PUT	874039100
AVGO	BROADCOM INC	7,500 (-62.5%)	$2.634M (-65.1%)	1.5%	$351.19	$400.96	-12.4%	COM	11135F101
NVDA	NVIDIA CORPORATION	45,080 (-30.7%)	$10.3M (-20.9%)	5.9%	$228.38	$185.93	+22.8%	COM	67066G104

Unchanged Positions (8)

QFIN QFIN HOLDINGS INC 1.0%

Value $1.675M Shares 250,000 Share Price $6.70 Est. Cost/Share $15.38 Unrealized @ Report Date -56.4%

VRT VERTIV HOLDINGS CO 2.8%

Value $4.826M Shares 20,000 Share Price $241.31 Est. Cost/Share $221.89 Unrealized @ Report Date +8.8%

GEV GE VERNOVA INC 2.4%

Value $4.29M Shares 4,513 Share Price $950.49 Est. Cost/Share $780.17 Unrealized @ Report Date +21.8%

QFIN QFIN HOLDINGS INC 0.4%

Value $630K Shares 94,000 Share Price $6.70 Est. Cost/Share $15.38 Unrealized @ Report Date -56.4%

GOOGL ALPHABET INC 10.4%

Value $18.26M Shares 53,083 Share Price $344.08 Est. Cost/Share $287.24 Unrealized @ Report Date +19.8%

EWY ISHARES INC 3.3%

Value $5.849M Shares 32,000 Share Price $182.78 Est. Cost/Share — Unrealized @ Report Date —

NVDA NVIDIA CORPORATION 1.7%

Value $2.969M Shares 13,000 Share Price $228.38 Est. Cost/Share $185.93 Unrealized @ Report Date +22.8%

GOOGL ALPHABET INC 3.9%

Value $6.882M Shares 20,000 Share Price $344.08 Est. Cost/Share $287.24 Unrealized @ Report Date +19.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
QFIN	QFIN HOLDINGS INC	250,000	$1.675M	1.0%	$6.70	$15.38	-56.4%	AMERICAN DEP	88557W101
VRT	VERTIV HOLDINGS CO	20,000	$4.826M	2.8%	$241.31	$221.89	+8.8%	COM CL A	92537N108
GEV	GE VERNOVA INC	4,513	$4.29M	2.4%	$950.49	$780.17	+21.8%	COM	36828A101
QFIN	QFIN HOLDINGS INC	94,000	$630K	0.4%	$6.70	$15.38	-56.4%	CALL	88557W101
GOOGL	ALPHABET INC	53,083	$18.26M	10.4%	$344.08	$287.24	+19.8%	CAP STK CL A	02079K305
EWY	ISHARES INC	32,000	$5.849M	3.3%	$182.78	—	—	PUT	464286772
NVDA	NVIDIA CORPORATION	13,000	$2.969M	1.7%	$228.38	$185.93	+22.8%	PUT	67066G104
GOOGL	ALPHABET INC	20,000	$6.882M	3.9%	$344.08	$287.24	+19.8%	PUT	02079K305