| Issuer | % book | Value | Conviction | Business |
|---|
| $IWM · ISHARES TR | 21.1% | $323,937,600 | High | BlackRock iShares ETF family (index funds) |
| $SNAP · SNAP INC | 10.7% | $164,516,700 | High | Snapchat social media platform |
| $TFX · TELEFLEX INCORPORATED | 6.8% | $104,060,700 | Med | Single-use medical devices |
| $NDQ · INVESCO QQQ TR | 2.4% | $37,285,828 | Med | Nasdaq-100 index ETF (QQQ) |
| $CMP · COMPASS MINERALS INTL INC | 2.2% | $33,519,602 | Med | Salt and plant-nutrition minerals |
| $AHRT · AH RLTY TR INC | 1.2% | $19,171,037 | Med | |
| $HPE · HEWLETT PACKARD ENTERPRISE C | 1.2% | $18,690,850 | Med | Enterprise servers, storage and networking |
| $PAR 1 01.15.30 · PAR TECHNOLOGY CORP | 1.1% | $17,334,124 | Med | |
| $RYAM · RAYONIER ADVANCED MATLS INC | 1.0% | $15,012,758 | Med | Cellulose specialties and forest products |
| $JANX · JANUX THERAPEUTICS INC | 0.7% | $10,644,676 | Med | |
| $ADEA · ADEIA INC | 0.3% | $4,803,597 | Med | |
| $AVIR · ATEA PHARMACEUTICALS IN | 0.1% | $1,623,141 | Med | |
| $FATE · FATE THERAPEUTICS INC | 0.1% | $1,053,666 | Med | |
| UNIQURE NV | 0.1% | $1,635,000 | Med | Gene therapy biotech (Netherlands) |
| $VOR · VOR BIOPHARMA INC | 0.0% | $582,708 | Med | |
| $DH · DEFINITIVE HEALTHCARE CORP | 0.0% | $71,448 | Med | Healthcare commercial intelligence data platform |
| Issuer | % book | Δ shares | Conviction | Business |
|---|
| $RAL · RALLIANT CORP | 4.7% | +424% | Low | Precision instruments and test technology (Fortive spinoff) |
| $FSLR · FIRST SOLAR INC | 3.7% | +4020% | Low | Thin-film solar panel manufacturer |
| $ALKT · ALKAMI TECHNOLOGY INC | 2.7% | +27% | Low | Digital banking platform for financial institutions |
| $SNDA · SONIDA SENIOR LIVING INC | 2.6% | +1049% | Low | Senior living community operator |
| $SPSC · SPS COMM INC | 2.2% | +32% | Low | Retail supply-chain and EDI software |
| $AIV · APARTMENT INVT & MGMT CO | 1.3% | +29% | Low | Apartment real-estate investment (Aimco) |
| $WSR · WHITESTONE REIT | 1.3% | +293% | Low | Community retail shopping center REIT |
| PEAKSTONE REALTY TRUST | 0.9% | +100% | Low | Industrial and office net-lease REIT |
| $CTRI · CENTURI HOLDINGS INC | 0.7% | +97% | Low | Utility infrastructure construction services |
| $SGRY · SURGERY PARTNERS INC | 0.6% | +740% | Low | Ambulatory surgical center operator |
| HIGHVIEW MERGER CORP | 0.2% | +50% | Low | Special-purpose acquisition company (blank-check) |
| $SARO · STANDARDAERO INC | 0.2% | +299% | Low | Aircraft engine maintenance and repair (MRO) |
| Issuer | % book | Business |
|---|
| $IWM · ISHARES TR | 21.1% | BlackRock iShares ETF family (index funds) |
| $SNAP · SNAP INC | 10.7% | Snapchat social media platform |
| $ITGR · INTEGER HLDGS CORP | 7.2% | Medical device contract manufacturing |
| $TFX · TELEFLEX INCORPORATED | 6.8% | Single-use medical devices |
| $RAL · RALLIANT CORP | 4.7% | Precision instruments and test technology (Fortive spinoff) |
| $SHC · SOTERA HEALTH CO | 4.1% | Sterilization and lab services for medical devices |
| $RSVR · RESERVOIR MEDIA INC | 3.9% | Music publishing and rights management |
| $FSLR · FIRST SOLAR INC | 3.7% | Thin-film solar panel manufacturer |
| THERAVANCE BIOPHARMA INC | 2.9% | Specialty respiratory pharmaceuticals |
| $ALKT · ALKAMI TECHNOLOGY INC | 2.7% | Digital banking platform for financial institutions |