Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
STLD	Steel Dynamics, Inc. ⚠	167,900	$38.53M	8.5%	$43.77	—	COM	858119100
URI	United Rentals, Inc. ⚠	15,235	$17.26M	3.8%	$462.72	—	COM	911363109
PGR	Progressive Corporation (The) ⚠	78,765	$17.21M	3.8%	$226.98	—	COM	743315103
MSFT	Microsoft Corporation ⚠	39,000	$14.55M	3.2%	$373.02	—	COM	594918104
DDS	Dillard's, Inc. ⚠	21,290	$11.25M	2.5%	$261.41	—	CL A	254067101
AMP	Ameriprise Financial, Inc.	21,990	$10.09M	2.2%	$458.76	—	COM	03076C106
DUOL	Duolingo, Inc.	86,552	$9.955M	2.2%	$115.02	—	CL A COM	26603R106
WTM	White Mountains Insurance Group Ltd.	4,800	$9.952M	2.2%	$2073.39	—	COM	G9618E107
NVR	NVR, Inc. ⚠	1,045	$7.12M	1.6%	$7647.13	—	COM	62944T105
GDDY	GoDaddy, Inc.	82,200	$6.977M	1.5%	$84.88	—	CL A	380237107
SELF	GLOBAL SELF STORAGE INC. ⚠	303,758	$1.592M	0.4%	$4.66	—	COM	37955N106
MAX	MediaAlpha, Inc.	65,102	$818K	0.2%	$12.57	—	CL A	58450V104
NRDS	NerdWallet, Inc.	70,000	$648K	0.1%	$9.25	—	COM CL A	64082B102
MSFT	MICROSOFT CORP ⚠	775	$289K	0.1%	$373.02	—	COM	594918104

Exited Positions (5)

HCA HCA Healthcare, Inc. 2.8%

Value $12.52M Shares 26,450 Est. Cost $386.45 Unrealized —

AEM Agnico Eagle Mines Ltd. 0.7%

Value $3.045M Shares 15,000 Est. Cost $49.01 Unrealized —

ELV Elevance Health, Inc. 0.6%

Value $2.81M Shares 9,600 Est. Cost $300.80 Unrealized —

NEM Newmont Corporation 0.5%

Value $2.192M Shares 20,250 Est. Cost $70.40 Unrealized —

TFPM Triple Flag Precious Metals Corporation 0.4%

Value $1.874M Shares 54,000 Est. Cost $23.66 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HCA	HCA Healthcare, Inc.	26,450	$12.52M	2.8%	$386.45	—	—	40412C101
AEM	Agnico Eagle Mines Ltd.	15,000	$3.045M	0.7%	$49.01	—	—	008474108
ELV	Elevance Health, Inc.	9,600	$2.81M	0.6%	$300.80	—	—	036752103
NEM	Newmont Corporation	20,250	$2.192M	0.5%	$70.40	—	—	651639106
TFPM	Triple Flag Precious Metals Corporation	54,000	$1.874M	0.4%	$23.66	—	—	89679M104

Decreased Positions (6)

STLD STEEL DYNAMICS INC ⚠ 0.0%

Value $194K (-99.4%) Shares 847 (-99.5%) Est. Cost $43.77 Unrealized —

PGR PROGRESSIVE CORP ⚠ 0.0%

Value $218K (-98.3%) Shares 1,000 (-98.4%) Est. Cost $226.98 Unrealized —

DDS DILLARDS INC ⚠ 0.0%

Value $131K (-98.9%) Shares 248 (-98.8%) Est. Cost $261.41 Unrealized —

URI UNITED RENTALS INC ⚠ 0.0%

Value $197K (-98.2%) Shares 174 (-98.9%) Est. Cost $462.72 Unrealized —

NVR NVR INC ⚠ 0.0%

Value $116K (-98.3%) Shares 17 (-98.4%) Est. Cost $7647.13 Unrealized —

SELF GLOBAL SELF STORAGE INC ⚠ 0.3%

Value $1.482M (-50.6%) Shares 282,742 (-51.8%) Est. Cost $4.66 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
STLD	STEEL DYNAMICS INC ⚠	847 (-99.5%)	$194K (-99.4%)	0.0%	$43.77	—	COM	858119100
PGR	PROGRESSIVE CORP ⚠	1,000 (-98.4%)	$218K (-98.3%)	0.0%	$226.98	—	COM	743315103
DDS	DILLARDS INC ⚠	248 (-98.8%)	$131K (-98.9%)	0.0%	$261.41	—	CL A	254067101
URI	UNITED RENTALS INC ⚠	174 (-98.9%)	$197K (-98.2%)	0.0%	$462.72	—	COM	911363109
NVR	NVR INC ⚠	17 (-98.4%)	$116K (-98.3%)	0.0%	$7647.13	—	COM	62944T105
SELF	GLOBAL SELF STORAGE INC ⚠	282,742 (-51.8%)	$1.482M (-50.6%)	0.3%	$4.66	—	COM	37955N106

Unchanged Positions (43)

LRCX Lam Research Corporation 10.5%

Value $47.23M Shares 109,000 Est. Cost $74.98 Unrealized —

GOOGL Alphabet, Inc. 8.6%

Value $38.63M Shares 108,100 Est. Cost $118.47 Unrealized —

IBKR Interactive Brokers Group, Inc. 6.3%

Value $28.48M Shares 327,200 Est. Cost $40.51 Unrealized —

WSM Williams-Sonoma, Inc. 5.7%

Value $25.87M Shares 111,000 Est. Cost $84.84 Unrealized —

NUTX Nutex Health, Inc. 2.5%

Value $11.17M Shares 65,350 Est. Cost $137.91 Unrealized —

QLYS Qualys, Inc. 2.7%

Value $12.19M Shares 88,641 Est. Cost $120.60 Unrealized —

IAG IAMGOLD Corporation 4.2%

Value $18.85M Shares 1,190,000 Est. Cost $6.91 Unrealized —

YOU Clear Secure, Inc. 3.6%

Value $16.11M Shares 289,135 Est. Cost $18.75 Unrealized —

MLI Mueller Industries, Inc. 4.6%

Value $20.81M Shares 169,280 Est. Cost $38.03 Unrealized —

UNH UnitedHealth Group, Inc. 1.2%

Value $5.611M Shares 13,500 Est. Cost $250.34 Unrealized —

NMIH NMI Holdings, Inc. 3.6%

Value $16.28M Shares 396,095 Est. Cost $25.00 Unrealized —

ESNT Essent Group Ltd. 3.1%

Value $13.79M Shares 214,500 Est. Cost $39.12 Unrealized —

LPLA LPL Financial Holdings, Inc. 2.9%

Value $13.1M Shares 46,500 Est. Cost $228.81 Unrealized —

AUGO Aura Minerals, Inc. 0.5%

Value $2.203M Shares 35,000 Est. Cost $39.27 Unrealized —

KGC Kinross Gold Corporation 0.4%

Value $1.618M Shares 68,500 Est. Cost $9.78 Unrealized —

RGLD Royal Gold, Inc. 0.4%

Value $1.677M Shares 8,400 Est. Cost $150.05 Unrealized —

ALRM Alarm.com Holdings, Inc. 1.3%

Value $5.891M Shares 126,100 Est. Cost $48.54 Unrealized —

BTG B2Gold Corporation 0.4%

Value $1.776M Shares 475,000 Est. Cost $4.83 Unrealized —

WPM Wheaton Precious Metals Corporation 0.4%

Value $1.876M Shares 16,700 Est. Cost $76.68 Unrealized —

EVER EverQuote, Inc. 0.2%

Value $771K Shares 32,400 Est. Cost $20.67 Unrealized —

JPM JPMorgan Chase & Company 0.5%

Value $2.226M Shares 6,800 Est. Cost $95.08 Unrealized —

MUX McEwen Mining, Inc. 0.4%

Value $1.768M Shares 97,500 Est. Cost $21.61 Unrealized —

SLV iShares Silver Trust 0.2%

Value $806K Shares 15,070 Est. Cost $15.91 Unrealized —

GLD SPDR Gold Shares 0.3%

Value $1.212M Shares 3,290 Est. Cost $138.90 Unrealized —

EXR EXTRA SPACE STORAGE INC 0.3%

Value $1.457M Shares 10,027 Est. Cost $103.02 Unrealized —

MA Mastercard, Inc. 1.1%

Value $5.136M Shares 10,000 Est. Cost $266.10 Unrealized —

BBW Build-A-Bear Workshop, Inc. 0.1%

Value $505K Shares 16,500 Est. Cost $22.96 Unrealized —

SSRM SSR Mining, Inc. 0.6%

Value $2.687M Shares 95,000 Est. Cost $25.47 Unrealized —

PSA PUBLIC STORAGE 0.1%

Value $541K Shares 1,700 Est. Cost $191.87 Unrealized —

BRK/B Berkshire Hathaway, Inc. 0.3%

Value $1.251M Shares 2,500 Est. Cost $200.06 Unrealized —

CUBE CUBESMART 0.1%

Value $557K Shares 14,000 Est. Cost $34.79 Unrealized —

GOOG ALPHABET INC 0.0%

Value $205K Shares 574 Est. Cost $175.67 Unrealized —

META Meta Platforms, Inc. 0.1%

Value $648K Shares 1,150 Est. Cost $248.19 Unrealized —

— MEXICO EQUITY & INCOME FD 0.0%

Value $78,038 Shares 6,000 Est. Cost $10.13 Unrealized —

— SABA CAPITAL INCOME & OPRNT 0.0%

Value $24,309 Shares 3,700 Est. Cost $8.03 Unrealized —

— SPECIAL OPPORTUNITIES FD INC 0.0%

Value $28,193 Shares 2,093 Est. Cost $14.37 Unrealized —

CEFS EXCHANGE LISTED FDS TR 0.0%

Value $2,564 Shares 100 Est. Cost $21.29 Unrealized —

— HIGH INCOME SECURITIES FUND 0.0%

Value $3,621 Shares 662 Est. Cost $9.04 Unrealized —

— TOTAL RETURN SECURITIES FUND 0.0%

Value $13,365 Shares 2,250 Est. Cost $9.41 Unrealized —

— SPECIAL OPPORTUNITIES FD INC 0.0%

Value $4,982 Shares 200 Est. Cost $25.00 Unrealized —

— EAGLE CAP GROWTH FD INC 0.0%

Value $1,019 Shares 100 Est. Cost $10.70 Unrealized —

— SABA CAPITAL INCOME & OPPORT 0.0%

Value $142 Shares 17 Est. Cost $7.82 Unrealized —

SVVC FIRSTHAND TECHNOLOGY VALUE F 0.0%

Value $2 Shares 100 Est. Cost $0.85 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LRCX	Lam Research Corporation	109,000	$47.23M	10.5%	$74.98	—	COM NEW	512807306
GOOGL	Alphabet, Inc.	108,100	$38.63M	8.6%	$118.47	—	CAP STK CL A	02079K305
IBKR	Interactive Brokers Group, Inc.	327,200	$28.48M	6.3%	$40.51	—	COM CL A	45841N107
WSM	Williams-Sonoma, Inc.	111,000	$25.87M	5.7%	$84.84	—	COM	969904101
NUTX	Nutex Health, Inc.	65,350	$11.17M	2.5%	$137.91	—	COM	67079U306
QLYS	Qualys, Inc.	88,641	$12.19M	2.7%	$120.60	—	COM	74758T303
IAG	IAMGOLD Corporation	1,190,000	$18.85M	4.2%	$6.91	—	COM	450913108
YOU	Clear Secure, Inc.	289,135	$16.11M	3.6%	$18.75	—	COM CL A	18467V109
MLI	Mueller Industries, Inc.	169,280	$20.81M	4.6%	$38.03	—	COM	624756102
UNH	UnitedHealth Group, Inc.	13,500	$5.611M	1.2%	$250.34	—	COM	91324P102
NMIH	NMI Holdings, Inc.	396,095	$16.28M	3.6%	$25.00	—	COM	629209305
ESNT	Essent Group Ltd.	214,500	$13.79M	3.1%	$39.12	—	COM	G3198U102
LPLA	LPL Financial Holdings, Inc.	46,500	$13.1M	2.9%	$228.81	—	COM	50212V100
AUGO	Aura Minerals, Inc.	35,000	$2.203M	0.5%	$39.27	—	SHS NEW	G06973112
KGC	Kinross Gold Corporation	68,500	$1.618M	0.4%	$9.78	—	COM	496902404
RGLD	Royal Gold, Inc.	8,400	$1.677M	0.4%	$150.05	—	COM	780287108
ALRM	Alarm.com Holdings, Inc.	126,100	$5.891M	1.3%	$48.54	—	COM	011642105
BTG	B2Gold Corporation	475,000	$1.776M	0.4%	$4.83	—	COM	11777Q209
WPM	Wheaton Precious Metals Corporation	16,700	$1.876M	0.4%	$76.68	—	COM	962879102
EVER	EverQuote, Inc.	32,400	$771K	0.2%	$20.67	—	COM CL A	30041R108
JPM	JPMorgan Chase & Company	6,800	$2.226M	0.5%	$95.08	—	COM	46625H100
MUX	McEwen Mining, Inc.	97,500	$1.768M	0.4%	$21.61	—	COM NEW	58039P305
SLV	iShares Silver Trust	15,070	$806K	0.2%	$15.91	—	ISHARES	46428Q109
GLD	SPDR Gold Shares	3,290	$1.212M	0.3%	$138.90	—	GOLD SHS	78463V107
EXR	EXTRA SPACE STORAGE INC	10,027	$1.457M	0.3%	$103.02	—	COM	30225T102
MA	Mastercard, Inc.	10,000	$5.136M	1.1%	$266.10	—	CL A	57636Q104
BBW	Build-A-Bear Workshop, Inc.	16,500	$505K	0.1%	$22.96	—	COM	120076104
SSRM	SSR Mining, Inc.	95,000	$2.687M	0.6%	$25.47	—	COM	784730103
PSA	PUBLIC STORAGE	1,700	$541K	0.1%	$191.87	—	COM	74460D109
BRK/B	Berkshire Hathaway, Inc.	2,500	$1.251M	0.3%	$200.06	—	CL B NEW	084670702
CUBE	CUBESMART	14,000	$557K	0.1%	$34.79	—	COM	229663109
GOOG	ALPHABET INC	574	$205K	0.0%	$175.67	—	CAP STK CL C	02079K107
META	Meta Platforms, Inc.	1,150	$648K	0.1%	$248.19	—	CL A	30303M102
—	MEXICO EQUITY & INCOME FD	6,000	$78,038	0.0%	$10.13	—	COM	592834105
—	SABA CAPITAL INCOME & OPRNT	3,700	$24,309	0.0%	$8.03	—	SHS NEW	78518H202
—	SPECIAL OPPORTUNITIES FD INC	2,093	$28,193	0.0%	$14.37	—	COM	84741T104
CEFS	EXCHANGE LISTED FDS TR	100	$2,564	0.0%	$21.29	—	SABA INT RATE	30151E806
—	HIGH INCOME SECURITIES FUND	662	$3,621	0.0%	$9.04	—	SHS BEN INT	42968F108
—	TOTAL RETURN SECURITIES FUND	2,250	$13,365	0.0%	$9.41	—	COM	870875101
—	SPECIAL OPPORTUNITIES FD INC	200	$4,982	0.0%	$25.00	—	2.75% CNV PFD C A	84741T401
—	EAGLE CAP GROWTH FD INC	100	$1,019	0.0%	$10.70	—	COM	269451100
—	SABA CAPITAL INCOME & OPPORT	17	$142	0.0%	$7.82	—	COM NEW	880198205
SVVC	FIRSTHAND TECHNOLOGY VALUE F	100	$2	0.0%	$0.85	—	COM	33766Y100