# EDGAR Filing Document

**Accession Number:** 0001179475
**File Stem:** 0001398344-25-020162
**Filing Date:** 2025-11
**Character Count:** 30074
**Document Hash:** 06d17bb7ce5e8d84a3d8ab95072285de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-020162.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001398344-25-020162

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**EFFECTIVENESS DATE**: 20251103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUSSMAN STRATEGIC ADVISORS, INC.
- **CENTRAL INDEX KEY:** 0001179475

**ORGANIZATION NAME:**
- **EIN:** 383083913
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10233
- **FILM NUMBER:** 251442672

**BUSINESS ADDRESS:**
- **STREET 1:** 6021 UNIVERSITY BLVD., SUITE 490
- **CITY:** ELLICOTT CITY
- **STATE:** MD
- **ZIP:** 21043
- **BUSINESS PHONE:** (410) 715-1130

**MAIL ADDRESS:**
- **STREET 1:** 6021 UNIVERSITY BLVD., SUITE 490
- **CITY:** ELLICOTT CITY
- **STATE:** MD
- **ZIP:** 21043

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUSSMAN ECONOMETRICS ADVISORS, INC.
- **DATE OF NAME CHANGE:** 20040726

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUSSMAN ECONOMETRICS ADVISORS INC
- **DATE OF NAME CHANGE:** 20020807

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** HUSSMAN STRATEGIC ADVISORS INC.<br>**Address:** 6021 UNIVERSITY BLVD. SUITE 490<br>ELLICOTT CITY, MD 21043

**Form 13F File Number:** 028-10233

**CRD Number (if applicable):** 000109400

**SEC File Number (if applicable):** 801-57572

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** John P. Hussman<br>**Title:** President<br>**Phone:** 410-715-1130

**Signature, Place, and Date of Signing:**

/s/ John P. Hussman  Ellicott City, MD  10-24-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 270

**Form 13F Information Table Value Total:** $461774443

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ACM RESH INC | COM CL A | 00108J109 |  | 2054325 | 52500 | SH |  | SOLE |  | 52500 | 0 | 0 |
| AES CORP | COM | 00130H105 |  | 13160 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| A10 NETWORKS INC | COM | 002121101 |  | 3811500 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| ACADIA PHARMACEUTICALS INC | COM | 004225108 |  | 2688840 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| ADTRAN HOLDINGS INC | COM | 00486H105 |  | 1378860 | 147000 | SH |  | SOLE |  | 147000 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 4298280 | 25500 | SH |  | SOLE |  | 25500 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 2549820 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| ALAMOS GOLD INC NEW | COM CL A | 011532108 |  | 1777860 | 51000 | SH |  | SOLE |  | 51000 | 0 | 0 |
| ALARM COM HLDGS INC | COM | 011642105 |  | 2229360 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| ALBERTSONS COS INC | COMMON STOCK | 013091103 |  | 1838550 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 3155544 | 25200 | SH |  | SOLE |  | 25200 | 0 | 0 |
| ALLEGIANT TRAVEL CO | COM | 01748X102 |  | 1276170 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| ALLETE INC | COM NEW | 018522300 |  | 66400 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 |  | 1756755 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| AMEREN CORP | COM | 023608102 |  | 10438 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 |  | 2360400 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 11250 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 1529640 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| ASTRANA HEALTH INC | COM NEW | 03763A207 |  | 595350 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| ASANA INC | CL A | 04342Y104 |  | 2805600 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| ATMUS FILTRATION TECHNOLOGIE | COM | 04956D107 |  | 1893780 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| AURINIA PHARMACEUTICALS INC | COM | 05156V102 |  | 1392300 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| AVISTA CORP | COM | 05379B107 |  | 37810 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| BJS WHSL CLUB HLDGS INC | COM | 05550J101 |  | 1958250 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 1144080 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| BANK OZK LITTLE ROCK ARK | COM | 06417N103 |  | 2141160 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| BANKUNITED INC | COM | 06652K103 |  | 1202040 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 5013810 | 153000 | SH |  | SOLE |  | 153000 | 0 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 1622880 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| BELLRING BRANDS INC | COMMON STOCK | 07831C103 |  | 2290050 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| BIOCRYST PHARMACEUTICALS INC | COM | 09058V103 |  | 1593900 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 1137360 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| BJS RESTAURANTS INC | COM | 09180C106 |  | 1282260 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| BLACK HILLS CORP | COM | 092113109 |  | 30795 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| BLACKLINE INC | COM | 09239B109 |  | 2230200 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| BRINKER INTL INC | COM | 109641100 |  | 798084 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| B2GOLD CORP | COM | 11777Q209 |  | 990000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| CSG SYS INTL INC | COM | 126349109 |  | 1351980 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| COTERRA ENERGY INC | COM | 127097103 |  | 1489950 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 2964150 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 |  | 53180 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| THE CAMPBELLS COMPANY | COM | 134429109 |  | 5305440 | 168000 | SH |  | SOLE |  | 168000 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 892836 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 942270 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 607110 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| CATALYST PHARMACEUTICALS INC | COM | 14888U101 |  | 2895900 | 147000 | SH |  | SOLE |  | 147000 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 5199485 | 18900 | SH |  | SOLE |  | 18900 | 0 | 0 |
| CHEESECAKE FACTORY INC | COM | 163072101 |  | 2294880 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| CHENIERE ENERGY PARTNERS LP | COM UNIT | 16411Q101 |  | 1130220 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| CHEWY INC | CL A | 16679L109 |  | 2123625 | 52500 | SH |  | SOLE |  | 52500 | 0 | 0 |
| CHOICE HOTELS INTL INC | COM | 169905106 |  | 1796088 | 16800 | SH |  | SOLE |  | 16800 | 0 | 0 |
| NIAGEN BIOSCIENCE INC | COM NEW | 171077407 |  | 979650 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 |  | 1529535 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 2298912 | 33600 | SH |  | SOLE |  | 33600 | 0 | 0 |
| CLEAR SECURE INC | COM CL A | 18467V109 |  | 1401960 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 1294650 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 3521175 | 52500 | SH |  | SOLE |  | 52500 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 3357480 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 1979460 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 719460 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| COMPASS MINERALS INTL INC | COM | 20451N101 |  | 806400 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| CONCENTRIX CORP | COM | 20602D101 |  | 1938300 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 100520 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| CORCEPT THERAPEUTICS INC | COM | 218352102 |  | 2617965 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| CORMEDIX INC | COM | 21900C308 |  | 3663450 | 315000 | SH |  | SOLE |  | 315000 | 0 | 0 |
| CORPAY INC | COM SHS | 219948106 |  | 2419704 | 8400 | SH |  | SOLE |  | 8400 | 0 | 0 |
| CORSAIR GAMING INC | COM | 22041X102 |  | 936600 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| CRACKER BARREL OLD CTRY STOR | COM | 22410J106 |  | 2775780 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 798651 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 14143 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 56530 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| DAVE  BUSTERS ENTMT INC | COM | 238337109 |  | 762720 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| DAVITA INC | COM | 23918K108 |  | 1116108 | 8400 | SH |  | SOLE |  | 8400 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 1191750 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 2826180 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| DIME CMNTY BANCSHARES INC | COM | 25432X102 |  | 1879290 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 |  | 3027780 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 1085175 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 30585 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 1142358 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| DOUBLEVERIFY HLDGS INC | COM | 25862V105 |  | 2515800 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 3172050 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 61875 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| DOXIMITY INC | CL A | 26622P107 |  | 2304225 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| EDISON INTL | COM | 281020107 |  | 27640 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| EMBECTA CORP | COMMON STOCK | 29082K105 |  | 888930 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| ENOVA INTL INC | COM | 29357K103 |  | 1208445 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 93190 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| EPAM SYS INC | COM | 29414B104 |  | 3166590 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| ETSY INC | COM | 29786A106 |  | 2788380 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| EURONET WORLDWIDE INC | COM | 298736109 |  | 2766015 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| EVERTEC INC | COM | 30040P103 |  | 1418760 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 45010 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| EXELIXIS INC | COM | 30161Q104 |  | 4336500 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| EXODUS MOVEMENT INC | COM CL A | 30209R106 |  | 233352 | 8400 | SH |  | SOLE |  | 8400 | 0 | 0 |
| FIGS INC | CL A | 30260D103 |  | 702450 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3084396 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 3008145 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| FASTLY INC | CL A | 31188V100 |  | 1795500 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| F5 INC | COM | 315616102 |  | 3393495 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 |  | 45820 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| FIVE BELOW INC | COM | 33829M101 |  | 1949220 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |
| FIVE9 INC | COM | 338307101 |  | 1016400 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| FLOWERS FOODS INC | COM | 343498101 |  | 2192400 | 168000 | SH |  | SOLE |  | 168000 | 0 | 0 |
| FORWARD AIR CORP | COM | 34986A104 |  | 1076880 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| FRONTDOOR INC | COM | 35905A109 |  | 1978326 | 29400 | SH |  | SOLE |  | 29400 | 0 | 0 |
| GAP INC | COM | 364760108 |  | 1347570 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 3176460 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 1280370 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 2331000 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| GLOBAL WTR RES INC | COM | 379463102 |  | 10300 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 1501185 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| GOGO INC | COM | 38046C109 |  | 2345070 | 273000 | SH |  | SOLE |  | 273000 | 0 | 0 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 287490 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| GROCERY OUTLET HLDG CORP | COM | 39874R101 |  | 2696400 | 168000 | SH |  | SOLE |  | 168000 | 0 | 0 |
| HAEMONETICS CORP MASS | COM | 405024100 |  | 511770 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| HALOZYME THERAPEUTICS INC | COM | 40637H109 |  | 2310210 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| HARMONY BIOSCIENCES HLDGS IN | COM | 413197104 |  | 1157520 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| HAWAIIAN ELEC INDUSTRIES | COM | 419870100 |  | 11040 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| HEALTHCARE SVCS GROUP INC | COM | 421906108 |  | 1413720 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| HECLA MNG CO | COM | 422704106 |  | 925650 | 76500 | SH |  | SOLE |  | 76500 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 1964025 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| HERTZ GLOBAL HLDGS INC | COM NEW | 42806J700 |  | 2142000 | 315000 | SH |  | SOLE |  | 315000 | 0 | 0 |
| HIGHPEAK ENERGY INC | COM | 43114Q105 |  | 742350 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| HILTON GRAND VACATIONS INC | COM | 43283X105 |  | 878010 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 1088010 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| HURON CONSULTING GROUP INC | COM | 447462102 |  | 924651 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 |  | 2671515 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| INSPIRE MED SYS INC | COM | 457730109 |  | 779100 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| INNOVIVA INC | COM | 45781M101 |  | 766500 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| INTEGRA LIFESCIENCES HLDGS C | COM NEW | 457985208 |  | 2407440 | 168000 | SH |  | SOLE |  | 168000 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 2167515 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| INTERDIGITAL INC | COM | 45867G101 |  | 2174949 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| INVESCO CURRENCYSHARES EURO | EURO SHS | 46138K103 |  | 812775 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| INVESCO CURRENCYSHARES BRIT | BRIT POUN STRL | 46138M109 |  | 647150 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| INVESCO CURRENCYSHARES JAPAN | JAPANESE YEN | 46138W107 |  | 777625 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| IONQ INC | COM | 46222L108 |  | 1937250 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| JINKOSOLAR HLDG CO LTD | SPONSORED ADR | 47759T100 |  | 1009260 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 1305570 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| KINROSS GOLD CORP | COM | 496902404 |  | 1267350 | 51000 | SH |  | SOLE |  | 51000 | 0 | 0 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 829710 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 1093680 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 1415610 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| VITAL ENERGY INC | COM | 516806205 |  | 16890 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER A | 530307107 |  | 2659860 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| LINCOLN NATL CORP IND | COM | 534187109 |  | 1693860 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| LIONSGATE STUDIOS CORP | COM | 53626N102 |  | 724500 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| LIQUIDITY SVCS INC | COM | 53635B107 |  | 2304120 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| LITHIA MTRS INC | COM | 536797103 |  | 663600 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 3736530 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 2079945 | 94500 | SH |  | SOLE |  | 94500 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 |  | 3320016 | 16800 | SH |  | SOLE |  | 16800 | 0 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 1887060 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| MATTEL INC | COM | 577081102 |  | 1413720 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| PEDIATRIX MEDICAL GROUP INC | COM | 58502B106 |  | 2814000 | 168000 | SH |  | SOLE |  | 168000 | 0 | 0 |
| MIMEDX GROUP INC | COM | 602496101 |  | 1758960 | 252000 | SH |  | SOLE |  | 252000 | 0 | 0 |
| MISSION PRODUCE INC | COM | 60510V108 |  | 504840 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| MISTER CAR WASH INC | COM | 60646V105 |  | 559650 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 2913120 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 161950 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 |  | 2947980 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 4299810 | 51000 | SH |  | SOLE |  | 51000 | 0 | 0 |
| NEXTRACKER INC | CLASS A COM | 65290E101 |  | 1553790 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 |  | 1413300 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| NORTHWESTERN ENERGY GROUP IN | COM NEW | 668074305 |  | 58610 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 |  | 1192380 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 2330580 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| NUSCALE PWR CORP | CL A COM | 67079K100 |  | 1512000 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| OKTA INC | CL A | 679295105 |  | 962850 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| OTTER TAIL CORP | COM | 689648103 |  | 81970 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 37160 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| PTC THERAPEUTICS INC | COM | 69366J200 |  | 3866310 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| PACIRA BIOSCIENCES INC | COM | 695127100 |  | 2705850 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| PALOMAR HLDGS INC | COM | 69753M105 |  | 2451750 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| PAN AMERN SILVER CORP | COM | 697900108 |  | 1185138 | 30600 | SH |  | SOLE |  | 30600 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 3059658 | 14700 | SH |  | SOLE |  | 14700 | 0 | 0 |
| PAYLOCITY HLDG CORP | COM | 70438V106 |  | 2006802 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |
| PAYMENTUS HOLDINGS INC | COM CL A | 70439P108 |  | 2249100 | 73500 | SH |  | SOLE |  | 73500 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 2816520 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 1890000 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| PENUMBRA INC | COM | 70975L107 |  | 3191832 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 2949240 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| PHIBRO ANIMAL HEALTH CORP | CL A COM | 71742Q106 |  | 1699320 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 1969590 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| PINNACLE WEST CAP CORP | COM | 723484101 |  | 89660 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 |  | 1013355 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| PLANET FITNESS INC | CL A | 72703H101 |  | 2179800 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 |  | 44000 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| POST HLDGS INC | COM | 737446104 |  | 677124 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 |  | 556500 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| PROGYNY INC | COM | 74340E103 |  | 2259600 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| PROTAGONIST THERAPEUTICS INC | COM | 74366E102 |  | 1395030 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| PROTO LABS INC | COM | 743713109 |  | 2101260 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 41730 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| QUALYS INC | COM | 74758T303 |  | 3334716 | 25200 | SH |  | SOLE |  | 25200 | 0 | 0 |
| QUANTUM COMPUTING INC | COM | 74766W108 |  | 773220 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| RB GLOBAL INC | COM | 74935Q107 |  | 1137780 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| RAMBUS INC DEL | COM | 750917106 |  | 1094100 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 1580880 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| REVOLVE GROUP INC | CL A | 76156B107 |  | 1341900 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| REYNOLDS CONSUMER PRODS INC | COM | 76171L106 |  | 2569350 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 1051365 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 3068874 | 15300 | SH |  | SOLE |  | 15300 | 0 | 0 |
| SEI INVTS CO | COM | 784117103 |  | 1781850 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| SEZZLE INC | COM | 78435P105 |  | 3006234 | 37800 | SH |  | SOLE |  | 37800 | 0 | 0 |
| SALLY BEAUTY HLDGS INC | COM | 79546E104 |  | 1025640 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| SAREPTA THERAPEUTICS INC | COM | 803607100 |  | 1618680 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 1443540 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| GENEDX HOLDINGS CORP | COM CL A | 81663L200 |  | 1357524 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |
| SHOALS TECHNOLOGIES GROUP IN | CL A | 82489W107 |  | 778050 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| ARS PHARMACEUTICALS INC | COM | 82835W108 |  | 1477350 | 147000 | SH |  | SOLE |  | 147000 | 0 | 0 |
| SIMPLY GOOD FOODS CO | COM | 82900L102 |  | 2084880 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 1466325 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| SMUCKER J M CO | COM NEW | 832696405 |  | 1140300 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 766500 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 47385 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 2010330 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 1142400 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SPRINKLR INC | CL A | 85208T107 |  | 810600 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 758835 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 1218105 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| STONEX GROUP INC | COM | 861896108 |  | 1483524 | 14700 | SH |  | SOLE |  | 14700 | 0 | 0 |
| SYMBOTIC INC | CLASS A COM | 87151X101 |  | 1131900 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 2238075 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 1902096 | 16800 | SH |  | SOLE |  | 16800 | 0 | 0 |
| TARSUS PHARMACEUTICALS INC | COM | 87650L103 |  | 1872045 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| TELADOC HEALTH INC | COM | 87918A105 |  | 1136310 | 147000 | SH |  | SOLE |  | 147000 | 0 | 0 |
| TEMPUS AI INC | CL A | 88023B103 |  | 1694910 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| TG THERAPEUTICS INC | COM | 88322Q108 |  | 4551750 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| TRAVERE THERAPEUTICS INC | COM | 89422G107 |  | 1003800 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 1707300 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| TWILIO INC | CL A | 90138F102 |  | 3152835 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| UBIQUITI INC | COM | 90353W103 |  | 2774436 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 1013250 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| UNITED NAT FOODS INC | COM | 911163103 |  | 5925150 | 157500 | SH |  | SOLE |  | 157500 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 2631195 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| UNITY SOFTWARE INC | COM | 91332U101 |  | 840840 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| UPWORK INC | COM | 91688F104 |  | 1949850 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| URBAN OUTFITTERS INC | COM | 917047102 |  | 2250045 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| UTZ BRANDS INC | COM CL A | 918090101 |  | 1530900 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| VIASAT INC | COM | 92552V100 |  | 1230600 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| VIRTU FINL INC | CL A | 928254101 |  | 2236500 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| VITA COCO CO INC | COM | 92846Q107 |  | 2229675 | 52500 | SH |  | SOLE |  | 52500 | 0 | 0 |
| VITAL FARMS INC | COM | 92847W103 |  | 1728300 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 1762740 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 2050650 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 1760220 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| WESTERN ALLIANCE BANCORP | COM | 957638109 |  | 1821120 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC | COM | 98311A105 |  | 838950 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 1346835 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| YELP INC | CL A | 985817105 |  | 3276000 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| YEXT INC | COM | 98585N106 |  | 894600 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| ZIONS BANCORPORATION N A | COM | 989701107 |  | 2376360 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| ZOOMINFO TECHNOLOGIES INC | COMMON STOCK | 98980F104 |  | 1145550 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 2079000 | 25200 | SH |  | SOLE |  | 25200 | 0 | 0 |
| ALKERMES PLC | SHS | G01767105 |  | 3780000 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| ANGLOGOLD ASHANTI PLC | COM SHS | G0378L100 |  | 1076049 | 15300 | SH |  | SOLE |  | 15300 | 0 | 0 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 1005900 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| DOLE PLC | ORD SHS | G27907107 |  | 1975680 | 147000 | SH |  | SOLE |  | 147000 | 0 | 0 |
| FRESH DEL MONTE PRODUCE INC | ORD | G36738105 |  | 729120 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| GIGACLOUD TECHNOLOGY INC | CLASS A ORD | G38644103 |  | 3578400 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 3518760 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| HERBALIFE LTD | COM SHS | G4412G101 |  | 531720 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| NEWEGG COMMERCE INC | SHS NEW | G6483G209 |  | 1761900 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| NORWEGIAN CRUISE LINE HLDG L | SHS | G66721104 |  | 2586150 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| NOVOCURE LTD | ORD SHS | G6674U108 |  | 1085280 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| GLOBANT S A | COM | L44385109 |  | 3614940 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| INMODE LTD | SHS | M5425M103 |  | 1564500 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| PAGAYA TECHNOLOGIES LTD | CL A NEW | M7S64L123 |  | 2493960 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| STRATASYS LTD | SHS | M85548101 |  | 2352000 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |

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