HOLDINGS.DAT

 SECTOR    VINTAGE  POSITION                      ROLE
 ────────  ───────  ────────────────────────────  ─────────
 MAR-AUT   2023     W2 Research                   LEAD
 MAR-SNS   2023     ██████████████████████        ████
 BIO-REF   2024     ████████████                  ████
 FUR-ID    2024     The Idaho Castor Company      LEAD/SEED
 MAR-AUT   2025     ████████████████████          ████
 MAR-AUT   2026     ██████████████                ████

W2 Research builds AI/ML-powered small-scale robotics for exploration and defense. It is the firm’s largest marine position.

The Idaho Castor Company restores a vertically integrated wild-furbearer value chain to the Snake River basin.

Position-level disclosure of the remaining holdings is provided to limited partners under separate agreement.