Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BNAI	BRAND ENGAGEMENT NETWORK INC	55,540	$2.105M	1.3%	$37.90	—	COM	104932207
BZAI	BLAIZE HLDGS INC	841,000	$1.531M	0.9%	$1.64	0.0%	COM	092915107
MDALF	MDA SPACE LTD	54,335	$1.376M	0.8%	$25.60	0.0%	COM	55293N109
QUIK	QUICKLOGIC CORP	139,500	$1.309M	0.8%	$7.64	0.0%	COM NEW	74837P405
DVLT	DATAVAULT AI INC	1,977,904	$1.223M	0.8%	$0.80	0.0%	COM SHS	86633R609
III	INFORMATION SVCS GROUP INC	310,400	$1.192M	0.7%	$5.37	0.0%	COM	45675Y104
CRWV	COREWEAVE INC	9,471	$734K	0.5%	$91.48	0.0%	COM CL A	21873S108
ARIS	ARIS MINING CORPORATION	36,323	$674K	0.4%	$18.92	0.0%	COM	04040Y109
ORCL	ORACLE CORP	4,517	$664K	0.4%	$169.61	0.0%	COM	68389X105
AAUC	ALLIED GOLD CORP	16,761	$520K	0.3%	$29.54	0.0%	COM NEW	01921D204
PGY	PAGAYA TECHNOLOGIES LTD	44,300	$516K	0.3%	$18.54	0.0%	CL A NEW	M7S64L123
HXL	HEXCEL CORP NEW	3,833	$310K	0.2%	$84.40	0.0%	COM	428291108
KRMN	KARMAN HLDGS INC	3,758	$301K	0.2%	$96.11	0.0%	COMMON STOCK	485924104
PANW	PALO ALTO NETWORKS INC	1,789	$287K	0.2%	$172.15	0.0%	COM	697435105
ERO	ERO COPPER CORP	9,580	$255K	0.2%	$31.75	0.0%	COM	296006109
ALB	ALBEMARLE CORP	1,394	$250K	0.2%	$171.25	0.0%	COM	012653101
OR	OR ROYALTIES INC.	6,498	$247K	0.2%	$41.88	0.0%	COM SHS	68390D106
RXRX	RECURSION PHARMACEUTICALS IN	77,000	$236K	0.1%	$4.18	0.0%	CL A	75629V104
HBM	HUDBAY MINERALS INC	11,090	$232K	0.1%	$24.45	0.0%	COM	443628102
XOM	EXXON MOBIL CORP	1,275	$216K	0.1%	$138.74	0.0%	COM	30231G102
AMCI	AMC ROBOTICS CORP	39,035	$213K	0.1%	$5.46	—	COM SHS	001661107
INOD	INNODATA INC	5,415	$209K	0.1%	$53.93	0.0%	COM NEW	457642205
CVX	CHEVRON CORPORATION	1,009	$209K	0.1%	$171.87	0.0%	COM	166764100
AIR	AAR CORP	1,890	$207K	0.1%	$106.17	0.0%	COM	000361105
SSRM	SSR MINING IN	7,036	$207K	0.1%	$25.47	0.0%	COM	784730103
OSIS	OSI SYSTEMS INC	773	$205K	0.1%	$275.87	0.0%	COM	671044105
IE	IVANHOE ELECTRIC INC	13,388	$158K	0.1%	$17.36	0.0%	COM	46578C108
USGO	US GOLDMINING INC	11,960	$139K	0.1%	$11.89	0.0%	COM	90291W108
SATL	SATELLOGIC INC	22,287	$121K	0.1%	$5.44	—	COM CL A	80401C100
NXXT	NEXTNRG INC	250,000	$100K	0.1%	$0.96	0.0%	COM	652941105
LAC	LITHIUM AMERS CORP NEW	20,275	$80,599	0.0%	$5.25	0.0%	COM SHS	53681J103
SLI	STANDARD LITHIUM LTD	10,901	$39,024	0.0%	$4.75	0.0%	COM	853606101
SPCE	VIRGIN GALACTIC HOLDINGS INC	12,548	$30,492	0.0%	$2.85	0.0%	COM NEW	92766K403
EVEX	EVE HLDG INC	12,005	$29,772	0.0%	$3.82	0.0%	COM	29970N104

Increased Positions (95)

LMT LOCKHEED MARTIN CORP 3.6%

Value $5.874M (+123.9%) Shares 9,719 (+79.2%) Est. Cost $531.30 Unrealized +13.1%

BA BOEING CO 4.4%

Value $7.146M (+58.1%) Shares 35,905 (+72.4%) Est. Cost $219.48 Unrealized +8.7%

GE GE AEROSPACE 4.7%

Value $7.54M (+49.5%) Shares 26,572 (+62.3%) Est. Cost $307.47 Unrealized +3.5%

NOC NORTHROP GRUMMAN CORP 3.0%

Value $4.807M (+100.1%) Shares 7,046 (+67.2%) Est. Cost $616.93 Unrealized +9.2%

PDYN PALLADYNE AI CORP 1.5%

Value $2.381M (+842.9%) Shares 392,259 (+561.7%) Est. Cost $6.67 Unrealized -0.2%

HWM HOWMET AEROSPACE INC 2.8%

Value $4.535M (+88.1%) Shares 19,676 (+67.3%) Est. Cost $210.08 Unrealized +7.8%

HON HONEYWELL INTL INC 3.4%

Value $5.566M (+58.4%) Shares 24,625 (+36.7%) Est. Cost $203.32 Unrealized +11.1%

LHX L3HARRIS TECHNOLOGIES INC 2.0%

Value $3.191M (+97.6%) Shares 9,245 (+68.1%) Est. Cost $310.59 Unrealized +10.5%

GD GENERAL DYNAMICS CORP 2.3%

Value $3.752M (+72.2%) Shares 10,933 (+69.0%) Est. Cost $346.42 Unrealized +2.3%

TER TERADYNE INC 1.3%

Value $2.093M (+182.1%) Shares 7,059 (+84.2%) Est. Cost $214.64 Unrealized +23.9%

TDG TRANSDIGM GROUP INC 1.9%

Value $3.154M (+45.8%) Shares 2,721 (+67.3%) Est. Cost $1331.19 Unrealized +2.3%

NEM NEWMONT CORP 1.0%

Value $1.618M (+116.9%) Shares 14,948 (+100.1%) Est. Cost $104.16 Unrealized +13.4%

TSLA TESLA INC 0.9%

Value $1.394M (+136.7%) Shares 3,749 (+186.4%) Est. Cost $432.02 Unrealized -1.4%

FCX FREEPORT MCMORAN INC 0.9%

Value $1.432M (+126.1%) Shares 24,365 (+95.4%) Est. Cost $52.00 Unrealized +17.5%

CCJ CAMECO CORP 1.6%

Value $2.603M (+42.5%) Shares 23,937 (+20.0%) Est. Cost $94.33 Unrealized +23.3%

RR RICHTECH ROBOTICS INC 0.6%

Value $976K (+270.9%) Shares 467,030 (+473.1%) Est. Cost $3.70 Unrealized -4.1%

TDY TELEDYNE TECHNOLOGIES INC 0.9%

Value $1.388M (+101.5%) Shares 2,295 (+70.1%) Est. Cost $562.79 Unrealized +9.1%

AG FIRST MAJESTIC SILVER CORP 0.9%

Value $1.43M (+94.1%) Shares 66,714 (+51.1%) Est. Cost $16.81 Unrealized +34.0%

RKLB ROCKET LAB CORP 1.0%

Value $1.547M (+79.3%) Shares 24,085 (+94.8%) Est. Cost $68.00 Unrealized +16.6%

CW CURTISS WRIGHT CORP 0.8%

Value $1.26M (+107.6%) Shares 1,850 (+68.0%) Est. Cost $595.35 Unrealized +9.3%

NVDA NVIDIA CORPORATION 1.8%

Value $2.986M (+27.7%) Shares 17,124 (+36.6%) Est. Cost $186.27 Unrealized +0.2%

FTAI FTAI AVIATION LTD 0.8%

Value $1.229M (+109.3%) Shares 5,016 (+68.2%) Est. Cost $211.01 Unrealized +28.3%

BWXT BWX TECHNOLOGIES INC 0.9%

Value $1.417M (+74.6%) Shares 6,931 (+47.6%) Est. Cost $192.44 Unrealized +5.5%

SNOW SNOWFLAKE INC 0.7%

Value $1.164M (+87.0%) Shares 7,715 (+171.9%) Est. Cost $212.73 Unrealized -8.6%

SCCO SOUTHERN COPPER CORP 0.6%

Value $907K (+129.0%) Shares 5,273 (+91.1%) Est. Cost $158.78 Unrealized +18.0%

WPM WHEATON PRECIOUS METALS CORP 0.6%

Value $958K (+101.6%) Shares 7,298 (+80.6%) Est. Cost $121.69 Unrealized +14.9%

AEM AGNICO EAGLE MINES LTD 0.9%

Value $1.526M (+38.2%) Shares 7,517 (+15.4%) Est. Cost $172.95 Unrealized +19.1%

ISOU ISOENERGY LTD 0.5%

Value $761K (+120.6%) Shares 71,791 (+89.4%) Est. Cost $9.99 Unrealized +10.8%

AGI ALAMOS GOLD INC 1.0%

Value $1.601M (+31.7%) Shares 35,993 (+14.3%) Est. Cost $35.80 Unrealized +18.8%

UEC URANIUM ENERGY CORP 0.6%

Value $922K (+57.7%) Shares 68,294 (+36.4%) Est. Cost $14.02 Unrealized +17.6%

CEG CONSTELLATION ENERGY CORP 1.3%

Value $2.12M (+18.8%) Shares 7,591 (+50.3%) Est. Cost $342.43 Unrealized -12.1%

PAAS PAN AMERN SILVER CORP 0.4%

Value $676K (+96.5%) Shares 12,375 (+86.4%) Est. Cost $49.53 Unrealized +17.9%

HII HUNTINGTON INGALLS INDS INC 0.4%

Value $715K (+85.5%) Shares 1,883 (+66.0%) Est. Cost $349.67 Unrealized +17.4%

SVM SILVERCORP METALS INC 0.3%

Value $560K (+128.5%) Shares 52,048 (+77.8%) Est. Cost $8.87 Unrealized +23.3%

TXT TEXTRON INC 0.5%

Value $776K (+66.9%) Shares 8,865 (+66.2%) Est. Cost $87.79 Unrealized +7.1%

SMR NUSCALE PWR CORP 0.5%

Value $750K (+69.8%) Shares 69,214 (+121.9%) Est. Cost $22.37 Unrealized -22.8%

EXK ENDEAVOUR SILVER CORP 0.4%

Value $639K (+91.5%) Shares 68,688 (+93.4%) Est. Cost $10.11 Unrealized +17.3%

AXON AXON ENTERPRISE INC 1.0%

Value $1.558M (+24.0%) Shares 3,668 (+65.8%) Est. Cost $583.32 Unrealized -9.7%

TECK TECK RESOURCES LTD 0.3%

Value $536K (+125.7%) Shares 10,333 (+108.5%) Est. Cost $49.39 Unrealized +11.3%

SERV SERVE ROBOTICS INC 0.4%

Value $715K (+70.8%) Shares 84,703 (+110.0%) Est. Cost $11.84 Unrealized -1.3%

SOUN SOUNDHOUND AI INC 0.8%

Value $1.315M (+28.5%) Shares 191,444 (+86.5%) Est. Cost $12.07 Unrealized -22.3%

ORLA ORLA MNG LTD NEW 0.6%

Value $900K (+46.1%) Shares 55,953 (+22.2%) Est. Cost $12.94 Unrealized +27.7%

LTBR LIGHTBRIDGE CORP 0.4%

Value $700K (+66.1%) Shares 65,648 (+96.9%) Est. Cost $11.67 Unrealized —

TFPM TRIPLE FLAG PRECIOUS METAL 0.3%

Value $507K (+112.7%) Shares 14,591 (+103.5%) Est. Cost $33.88 Unrealized +7.4%

HSAI HESAI GROUP 0.4%

Value $599K (+78.3%) Shares 31,346 (+108.9%) Est. Cost $20.69 Unrealized —

AEP AMERICAN ELEC PWR CO INC 0.6%

Value $1.005M (+35.5%) Shares 7,665 (+19.2%) Est. Cost $118.16 Unrealized +2.0%

DUK DUKE ENERGY CORP NEW 0.6%

Value $1.008M (+32.6%) Shares 7,699 (+18.7%) Est. Cost $121.46 Unrealized -0.5%

EU ENCORE ENERGY CORP 0.3%

Value $447K (+118.4%) Shares 246,624 (+187.2%) Est. Cost $2.89 Unrealized +0.6%

PCG PG&E CORP 0.6%

Value $1.013M (+30.6%) Shares 57,646 (+19.5%) Est. Cost $16.00 Unrealized +2.4%

URG UR-ENERGY INC 0.5%

Value $796K (+40.0%) Shares 537,427 (+29.5%) Est. Cost $1.53 Unrealized +11.7%

NXE NEXGEN ENERGY LTD 0.5%

Value $886K (+34.5%) Shares 76,340 (+6.7%) Est. Cost $9.02 Unrealized +31.8%

UROY URANIUM RTY CORP 0.3%

Value $516K (+72.0%) Shares 140,715 (+65.4%) Est. Cost $4.08 Unrealized +6.2%

NNE NANO NUCLEAR ENERGY INC 0.3%

Value $501K (+73.0%) Shares 24,449 (+102.8%) Est. Cost $34.02 Unrealized -12.2%

KTOS KRATOS DEFENSE & SEC SOLUTIO 0.4%

Value $577K (+56.2%) Shares 8,184 (+68.2%) Est. Cost $90.19 Unrealized +13.5%

HL HECLA MINING COMPANY 0.3%

Value $433K (+91.0%) Shares 23,238 (+96.7%) Est. Cost $19.60 Unrealized +22.8%

GS GOLDMAN SACHS GROUP INC 0.7%

Value $1.135M (+22.1%) Shares 1,342 (+26.8%) Est. Cost $838.59 Unrealized +11.2%

OKLO OKLO INC 0.5%

Value $778K (+34.7%) Shares 15,684 (+94.9%) Est. Cost $96.33 Unrealized -16.6%

MOG/A MOOG INC 0.2%

Value $401K (+97.1%) Shares 1,370 (+64.1%) Est. Cost $251.73 Unrealized +20.2%

CDE COEUR MNG INC 0.3%

Value $418K (+84.8%) Shares 22,271 (+75.5%) Est. Cost $19.51 Unrealized +14.4%

USAS AMERICAS GOLD AND SILVER COR 0.2%

Value $333K (+118.3%) Shares 63,873 (+114.5%) Est. Cost $6.01 Unrealized +21.9%

PEG PUBLIC SVC ENTERPRISE GROUP 0.5%

Value $849K (+25.9%) Shares 10,488 (+24.9%) Est. Cost $81.17 Unrealized +0.5%

KGC KINROSS GOLD CORP 0.9%

Value $1.455M (+13.2%) Shares 47,590 (+4.3%) Est. Cost $26.30 Unrealized +28.5%

HEI HEICO CORP NEW 0.3%

Value $550K (+43.8%) Shares 2,007 (+69.7%) Est. Cost $325.40 Unrealized +4.2%

TGB TASEKO MINES LTD 0.2%

Value $300K (+121.3%) Shares 46,359 (+93.4%) Est. Cost $6.06 Unrealized +23.9%

CR CRANE COMPANY 0.3%

Value $420K (+54.3%) Shares 2,458 (+66.4%) Est. Cost $190.49 Unrealized +4.1%

MIR MIRION TECHNOLOGIES INC 0.4%

Value $722K (+24.6%) Shares 38,837 (+57.0%) Est. Cost $24.66 Unrealized -2.0%

PLTR PALANTIR TECHNOLOGIES INC 0.9%

Value $1.472M (+10.0%) Shares 10,061 (+33.7%) Est. Cost $174.26 Unrealized -11.5%

LEU CENTRUS ENERGY CORP 0.4%

Value $597K (+27.6%) Shares 3,438 (+78.5%) Est. Cost $286.79 Unrealized -6.7%

SLSR SOLARIS RES INC 0.1%

Value $212K (+130.6%) Shares 24,560 (+114.1%) Est. Cost $8.25 Unrealized +14.0%

UUUU ENERGY FUELS INC 0.2%

Value $397K (+37.8%) Shares 21,767 (+9.8%) Est. Cost $17.38 Unrealized +24.3%

GFI GOLD FIELDS LTD 0.8%

Value $1.36M (+7.7%) Shares 29,966 (+3.6%) Est. Cost $43.72 Unrealized —

TUYA TUYA INC 0.2%

Value $290K (+37.8%) Shares 125,615 (+25.9%) Est. Cost $2.15 Unrealized —

ASM AVINO SILVER & GOLD MINES LT 0.1%

Value $146K (+93.3%) Shares 22,952 (+89.5%) Est. Cost $6.87 Unrealized +24.2%

TXNM TXNM ENERGY INC 0.2%

Value $269K (+32.4%) Shares 4,593 (+33.3%) Est. Cost $58.06 Unrealized +1.8%

BBAI BIGBEAR AI HLDGS INC 0.7%

Value $1.197M (+5.6%) Shares 340,097 (+62.0%) Est. Cost $6.01 Unrealized -14.1%

UBS UBS GROUP AG 0.6%

Value $1.003M (+6.6%) Shares 25,660 (+26.3%) Est. Cost $41.48 Unrealized +9.8%

SAN BANCO SANTANDER SA 0.6%

Value $995K (+5.9%) Shares 88,215 (+10.1%) Est. Cost $11.69 Unrealized —

AI C3 AI INC 0.6%

Value $959K (+5.8%) Shares 113,915 (+69.5%) Est. Cost $14.36 Unrealized -16.0%

AVAV AEROVIRONMENT INC 0.2%

Value $269K (+18.9%) Shares 1,472 (+57.1%) Est. Cost $307.86 Unrealized -3.7%

GRRR GORILLA TECHNOLOGY GROUP INC 0.7%

Value $1.077M (+4.1%) Shares 102,240 (+8.0%) Est. Cost $14.74 Unrealized -13.1%

JOBY JOBY AVIATION INC 0.1%

Value $212K (+23.7%) Shares 25,615 (+97.6%) Est. Cost $13.88 Unrealized -10.8%

DB DEUTSCHE BK AG 0.6%

Value $974K (+3.9%) Shares 32,703 (+34.5%) Est. Cost $36.59 Unrealized +4.0%

BAC BANK AMERICA CORP 0.6%

Value $989K (+3.7%) Shares 20,297 (+17.0%) Est. Cost $52.81 Unrealized +1.6%

MS MORGAN STANLEY 0.6%

Value $991K (+3.5%) Shares 6,024 (+11.6%) Est. Cost $167.85 Unrealized +7.0%

BIDU BAIDU INC 0.9%

Value $1.476M (+2.0%) Shares 13,248 (+19.6%) Est. Cost $127.51 Unrealized —

STT STATE STR CORP 0.6%

Value $990K (+2.6%) Shares 7,877 (+4.6%) Est. Cost $119.46 Unrealized +9.0%

C CITIGROUP INC 0.6%

Value $985K (+2.5%) Shares 8,685 (+5.5%) Est. Cost $104.29 Unrealized +11.4%

ING ING GROEP N.V. 0.6%

Value $964K (+2.3%) Shares 36,997 (+9.9%) Est. Cost $27.82 Unrealized —

ECX ECARX HOLDINGS INC 0.1%

Value $100K (-17.6%) Shares 102,625 (+44.9%) Est. Cost $1.95 Unrealized -8.4%

BTG B2GOLD CORP 0.6%

Value $1.046M (+2.1%) Shares 230,260 (+1.2%) Est. Cost $4.67 Unrealized +9.8%

VZLA VIZSLA SILVER CORP 0.2%

Value $273K (+8.4%) Shares 82,291 (+79.3%) Est. Cost $4.89 Unrealized +5.0%

ACHR ARCHER AVIATION INC 0.1%

Value $135K (+15.6%) Shares 26,148 (+68.1%) Est. Cost $8.75 Unrealized -11.1%

RY ROYAL BK CDA 0.6%

Value $959K (+0.8%) Shares 5,925 (+6.2%) Est. Cost $154.53 Unrealized +10.0%

JPM JPMORGAN CHASE & CO 0.7%

Value $1.122M (+0.5%) Shares 3,813 (+10.1%) Est. Cost $309.71 Unrealized +0.6%

WFC WELLS FARGO & CO 0.7%

Value $1.124M (+0.4%) Shares 14,121 (+17.6%) Est. Cost $87.14 Unrealized +3.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LMT	LOCKHEED MARTIN CORP	9,719 (+79.2%)	$5.874M (+123.9%)	3.6%	$531.30	+13.1%	COM	539830109
BA	BOEING CO	35,905 (+72.4%)	$7.146M (+58.1%)	4.4%	$219.48	+8.7%	COM	097023105
GE	GE AEROSPACE	26,572 (+62.3%)	$7.54M (+49.5%)	4.7%	$307.47	+3.5%	COM NEW	369604301
NOC	NORTHROP GRUMMAN CORP	7,046 (+67.2%)	$4.807M (+100.1%)	3.0%	$616.93	+9.2%	COM	666807102
PDYN	PALLADYNE AI CORP	392,259 (+561.7%)	$2.381M (+842.9%)	1.5%	$6.67	-0.2%	COM NEW	80359A205
HWM	HOWMET AEROSPACE INC	19,676 (+67.3%)	$4.535M (+88.1%)	2.8%	$210.08	+7.8%	COM	443201108
HON	HONEYWELL INTL INC	24,625 (+36.7%)	$5.566M (+58.4%)	3.4%	$203.32	+11.1%	COM	438516106
LHX	L3HARRIS TECHNOLOGIES INC	9,245 (+68.1%)	$3.191M (+97.6%)	2.0%	$310.59	+10.5%	COM	502431109
GD	GENERAL DYNAMICS CORP	10,933 (+69.0%)	$3.752M (+72.2%)	2.3%	$346.42	+2.3%	COM	369550108
TER	TERADYNE INC	7,059 (+84.2%)	$2.093M (+182.1%)	1.3%	$214.64	+23.9%	COM	880770102
TDG	TRANSDIGM GROUP INC	2,721 (+67.3%)	$3.154M (+45.8%)	1.9%	$1331.19	+2.3%	COM	893641100
NEM	NEWMONT CORP	14,948 (+100.1%)	$1.618M (+116.9%)	1.0%	$104.16	+13.4%	COM	651639106
TSLA	TESLA INC	3,749 (+186.4%)	$1.394M (+136.7%)	0.9%	$432.02	-1.4%	COM	88160R101
FCX	FREEPORT MCMORAN INC	24,365 (+95.4%)	$1.432M (+126.1%)	0.9%	$52.00	+17.5%	CL B	35671D857
CCJ	CAMECO CORP	23,937 (+20.0%)	$2.603M (+42.5%)	1.6%	$94.33	+23.3%	COM	13321L108
RR	RICHTECH ROBOTICS INC	467,030 (+473.1%)	$976K (+270.9%)	0.6%	$3.70	-4.1%	CL B	765504105
TDY	TELEDYNE TECHNOLOGIES INC	2,295 (+70.1%)	$1.388M (+101.5%)	0.9%	$562.79	+9.1%	COM	879360105
AG	FIRST MAJESTIC SILVER CORP	66,714 (+51.1%)	$1.43M (+94.1%)	0.9%	$16.81	+34.0%	COM	32076V103
RKLB	ROCKET LAB CORP	24,085 (+94.8%)	$1.547M (+79.3%)	1.0%	$68.00	+16.6%	COM	773121108
CW	CURTISS WRIGHT CORP	1,850 (+68.0%)	$1.26M (+107.6%)	0.8%	$595.35	+9.3%	COM	231561101
NVDA	NVIDIA CORPORATION	17,124 (+36.6%)	$2.986M (+27.7%)	1.8%	$186.27	+0.2%	COM	67066G104
FTAI	FTAI AVIATION LTD	5,016 (+68.2%)	$1.229M (+109.3%)	0.8%	$211.01	+28.3%	SHS	G3730V105
BWXT	BWX TECHNOLOGIES INC	6,931 (+47.6%)	$1.417M (+74.6%)	0.9%	$192.44	+5.5%	COM	05605H100
SNOW	SNOWFLAKE INC	7,715 (+171.9%)	$1.164M (+87.0%)	0.7%	$212.73	-8.6%	COM SHS	833445109
SCCO	SOUTHERN COPPER CORP	5,273 (+91.1%)	$907K (+129.0%)	0.6%	$158.78	+18.0%	COM	84265V105
WPM	WHEATON PRECIOUS METALS CORP	7,298 (+80.6%)	$958K (+101.6%)	0.6%	$121.69	+14.9%	COM	962879102
AEM	AGNICO EAGLE MINES LTD	7,517 (+15.4%)	$1.526M (+38.2%)	0.9%	$172.95	+19.1%	COM	008474108
ISOU	ISOENERGY LTD	71,791 (+89.4%)	$761K (+120.6%)	0.5%	$9.99	+10.8%	COM NEW	46500E867
AGI	ALAMOS GOLD INC	35,993 (+14.3%)	$1.601M (+31.7%)	1.0%	$35.80	+18.8%	COM CL A	011532108
UEC	URANIUM ENERGY CORP	68,294 (+36.4%)	$922K (+57.7%)	0.6%	$14.02	+17.6%	COM	916896103
CEG	CONSTELLATION ENERGY CORP	7,591 (+50.3%)	$2.12M (+18.8%)	1.3%	$342.43	-12.1%	COM	21037T109
PAAS	PAN AMERN SILVER CORP	12,375 (+86.4%)	$676K (+96.5%)	0.4%	$49.53	+17.9%	COM	697900108
HII	HUNTINGTON INGALLS INDS INC	1,883 (+66.0%)	$715K (+85.5%)	0.4%	$349.67	+17.4%	COM	446413106
SVM	SILVERCORP METALS INC	52,048 (+77.8%)	$560K (+128.5%)	0.3%	$8.87	+23.3%	COM	82835P103
TXT	TEXTRON INC	8,865 (+66.2%)	$776K (+66.9%)	0.5%	$87.79	+7.1%	COM	883203101
SMR	NUSCALE PWR CORP	69,214 (+121.9%)	$750K (+69.8%)	0.5%	$22.37	-22.8%	CL A COM	67079K100
EXK	ENDEAVOUR SILVER CORP	68,688 (+93.4%)	$639K (+91.5%)	0.4%	$10.11	+17.3%	COM	29258Y103
AXON	AXON ENTERPRISE INC	3,668 (+65.8%)	$1.558M (+24.0%)	1.0%	$583.32	-9.7%	COM	05464C101
TECK	TECK RESOURCES LTD	10,333 (+108.5%)	$536K (+125.7%)	0.3%	$49.39	+11.3%	CL B	878742204
SERV	SERVE ROBOTICS INC	84,703 (+110.0%)	$715K (+70.8%)	0.4%	$11.84	-1.3%	COM	81758H106
SOUN	SOUNDHOUND AI INC	191,444 (+86.5%)	$1.315M (+28.5%)	0.8%	$12.07	-22.3%	CLASS A COM	836100107
ORLA	ORLA MNG LTD NEW	55,953 (+22.2%)	$900K (+46.1%)	0.6%	$12.94	+27.7%	COM	68634K106
LTBR	LIGHTBRIDGE CORP	65,648 (+96.9%)	$700K (+66.1%)	0.4%	$11.67	—	COM	53224K302
TFPM	TRIPLE FLAG PRECIOUS METAL	14,591 (+103.5%)	$507K (+112.7%)	0.3%	$33.88	+7.4%	COM	89679M104
HSAI	HESAI GROUP	31,346 (+108.9%)	$599K (+78.3%)	0.4%	$20.69	—	SPONSORED ADS	428050108
AEP	AMERICAN ELEC PWR CO INC	7,665 (+19.2%)	$1.005M (+35.5%)	0.6%	$118.16	+2.0%	COM	025537101
DUK	DUKE ENERGY CORP NEW	7,699 (+18.7%)	$1.008M (+32.6%)	0.6%	$121.46	-0.5%	COM NEW	26441C204
EU	ENCORE ENERGY CORP	246,624 (+187.2%)	$447K (+118.4%)	0.3%	$2.89	+0.6%	COM NEW	29259W700
PCG	PG&E CORP	57,646 (+19.5%)	$1.013M (+30.6%)	0.6%	$16.00	+2.4%	COM	69331C108
URG	UR-ENERGY INC	537,427 (+29.5%)	$796K (+40.0%)	0.5%	$1.53	+11.7%	COM	91688R108
NXE	NEXGEN ENERGY LTD	76,340 (+6.7%)	$886K (+34.5%)	0.5%	$9.02	+31.8%	COM	65340P106
UROY	URANIUM RTY CORP	140,715 (+65.4%)	$516K (+72.0%)	0.3%	$4.08	+6.2%	COM	91702V101
NNE	NANO NUCLEAR ENERGY INC	24,449 (+102.8%)	$501K (+73.0%)	0.3%	$34.02	-12.2%	COM	63010H108
KTOS	KRATOS DEFENSE & SEC SOLUTIO	8,184 (+68.2%)	$577K (+56.2%)	0.4%	$90.19	+13.5%	COM NEW	50077B207
HL	HECLA MINING COMPANY	23,238 (+96.7%)	$433K (+91.0%)	0.3%	$19.60	+22.8%	COM	422704106
GS	GOLDMAN SACHS GROUP INC	1,342 (+26.8%)	$1.135M (+22.1%)	0.7%	$838.59	+11.2%	COM	38141G104
OKLO	OKLO INC	15,684 (+94.9%)	$778K (+34.7%)	0.5%	$96.33	-16.6%	COM CL A	02156V109
MOG/A	MOOG INC	1,370 (+64.1%)	$401K (+97.1%)	0.2%	$251.73	+20.2%	CL A	615394202
CDE	COEUR MNG INC	22,271 (+75.5%)	$418K (+84.8%)	0.3%	$19.51	+14.4%	COM NEW	192108504
USAS	AMERICAS GOLD AND SILVER COR	63,873 (+114.5%)	$333K (+118.3%)	0.2%	$6.01	+21.9%	COM NEW	03062D803
PEG	PUBLIC SVC ENTERPRISE GROUP	10,488 (+24.9%)	$849K (+25.9%)	0.5%	$81.17	+0.5%	COM	744573106
KGC	KINROSS GOLD CORP	47,590 (+4.3%)	$1.455M (+13.2%)	0.9%	$26.30	+28.5%	COM	496902404
HEI	HEICO CORP NEW	2,007 (+69.7%)	$550K (+43.8%)	0.3%	$325.40	+4.2%	COM	422806109
TGB	TASEKO MINES LTD	46,359 (+93.4%)	$300K (+121.3%)	0.2%	$6.06	+23.9%	COM	876511106
CR	CRANE COMPANY	2,458 (+66.4%)	$420K (+54.3%)	0.3%	$190.49	+4.1%	COMMON STOCK	224408104
MIR	MIRION TECHNOLOGIES INC	38,837 (+57.0%)	$722K (+24.6%)	0.4%	$24.66	-2.0%	COM CL A	60471A101
PLTR	PALANTIR TECHNOLOGIES INC	10,061 (+33.7%)	$1.472M (+10.0%)	0.9%	$174.26	-11.5%	CL A	69608A108
LEU	CENTRUS ENERGY CORP	3,438 (+78.5%)	$597K (+27.6%)	0.4%	$286.79	-6.7%	CL A	15643U104
SLSR	SOLARIS RES INC	24,560 (+114.1%)	$212K (+130.6%)	0.1%	$8.25	+14.0%	COM NEW	83419D201
UUUU	ENERGY FUELS INC	21,767 (+9.8%)	$397K (+37.8%)	0.2%	$17.38	+24.3%	COM NEW	292671708
GFI	GOLD FIELDS LTD	29,966 (+3.6%)	$1.36M (+7.7%)	0.8%	$43.72	—	SPONSORED ADR	38059T106
TUYA	TUYA INC	125,615 (+25.9%)	$290K (+37.8%)	0.2%	$2.15	—	SPONSERED ADS	90114C107
ASM	AVINO SILVER & GOLD MINES LT	22,952 (+89.5%)	$146K (+93.3%)	0.1%	$6.87	+24.2%	COM	053906103
TXNM	TXNM ENERGY INC	4,593 (+33.3%)	$269K (+32.4%)	0.2%	$58.06	+1.8%	COM	69349H107
BBAI	BIGBEAR AI HLDGS INC	340,097 (+62.0%)	$1.197M (+5.6%)	0.7%	$6.01	-14.1%	COM	08975B109
UBS	UBS GROUP AG	25,660 (+26.3%)	$1.003M (+6.6%)	0.6%	$41.48	+9.8%	SHS	H42097107
SAN	BANCO SANTANDER SA	88,215 (+10.1%)	$995K (+5.9%)	0.6%	$11.69	—	ADR	05964H105
AI	C3 AI INC	113,915 (+69.5%)	$959K (+5.8%)	0.6%	$14.36	-16.0%	CL A	12468P104
AVAV	AEROVIRONMENT INC	1,472 (+57.1%)	$269K (+18.9%)	0.2%	$307.86	-3.7%	COM	008073108
GRRR	GORILLA TECHNOLOGY GROUP INC	102,240 (+8.0%)	$1.077M (+4.1%)	0.7%	$14.74	-13.1%	SHS NEW	G4000K175
JOBY	JOBY AVIATION INC	25,615 (+97.6%)	$212K (+23.7%)	0.1%	$13.88	-10.8%	COMMON STOCK	G65163100
DB	DEUTSCHE BK AG	32,703 (+34.5%)	$974K (+3.9%)	0.6%	$36.59	+4.0%	NAMEN AKT	D18190898
BAC	BANK AMERICA CORP	20,297 (+17.0%)	$989K (+3.7%)	0.6%	$52.81	+1.6%	COM	060505104
MS	MORGAN STANLEY	6,024 (+11.6%)	$991K (+3.5%)	0.6%	$167.85	+7.0%	COM NEW	617446448
BIDU	BAIDU INC	13,248 (+19.6%)	$1.476M (+2.0%)	0.9%	$127.51	—	SPON ADR REP A	056752108
STT	STATE STR CORP	7,877 (+4.6%)	$990K (+2.6%)	0.6%	$119.46	+9.0%	COM	857477103
C	CITIGROUP INC	8,685 (+5.5%)	$985K (+2.5%)	0.6%	$104.29	+11.4%	COM NEW	172967424
ING	ING GROEP N.V.	36,997 (+9.9%)	$964K (+2.3%)	0.6%	$27.82	—	SPONSORED ADR	456837103
ECX	ECARX HOLDINGS INC	102,625 (+44.9%)	$100K (-17.6%)	0.1%	$1.95	-8.4%	CLASS A ORD	G29201103
BTG	B2GOLD CORP	230,260 (+1.2%)	$1.046M (+2.1%)	0.6%	$4.67	+9.8%	COM	11777Q209
VZLA	VIZSLA SILVER CORP	82,291 (+79.3%)	$273K (+8.4%)	0.2%	$4.89	+5.0%	COM NEW	92859G608
ACHR	ARCHER AVIATION INC	26,148 (+68.1%)	$135K (+15.6%)	0.1%	$8.75	-11.1%	COM CL A	03945R102
RY	ROYAL BK CDA	5,925 (+6.2%)	$959K (+0.8%)	0.6%	$154.53	+10.0%	COM	780087102
JPM	JPMORGAN CHASE & CO	3,813 (+10.1%)	$1.122M (+0.5%)	0.7%	$309.71	+0.6%	COM	46625H100
WFC	WELLS FARGO & CO	14,121 (+17.6%)	$1.124M (+0.4%)	0.7%	$87.14	+3.3%	COM	949746101

Exited Positions (24)

RTX RTX CORPORATION 3.3%

Value $5.388M Shares 29,380 Est. Cost $173.32 Unrealized +13.4%

NVDA NVIDIA CORPORATION 1.6%

Value $2.611M Shares 14,000 Est. Cost $186.27 Unrealized +0.2%

TSLA TESLA INC 1.5%

Value $2.428M Shares 5,400 Est. Cost $432.02 Unrealized -1.4%

AAPL APPLE INC 1.3%

Value $2.109M Shares 7,758 Est. Cost $268.34 Unrealized -2.1%

PLTR PALANTIR TECHNOLOGIES INC 1.0%

Value $1.671M Shares 9,400 Est. Cost $174.26 Unrealized -11.5%

INTC INTEL CORP 1.0%

Value $1.602M Shares 43,428 Est. Cost $37.76 Unrealized +23.0%

MSFT MICROSOFT CORP 0.9%

Value $1.485M Shares 3,070 Est. Cost $500.58 Unrealized -13.2%

ZETA ZETA GLOBAL HOLDINGS CORP 0.8%

Value $1.229M Shares 60,402 Est. Cost $18.68 Unrealized +2.9%

LSCC LATTICE SEMICONDUCTOR CORP 0.7%

Value $1.081M Shares 14,690 Est. Cost $73.58 Unrealized —

BCS BARCLAYS PLC 0.6%

Value $953K Shares 37,448 Est. Cost $25.45 Unrealized —

CEVA CEVA INC 0.6%

Value $939K Shares 43,631 Est. Cost $24.55 Unrealized -10.2%

MSTR STRATEGY INC 0.6%

Value $912K Shares 6,000 Est. Cost $230.22 Unrealized -36.2%

NCNO NCINO INC 0.3%

Value $526K Shares 20,512 Est. Cost $25.39 Unrealized -18.3%

ZEPP ZEPP HEALTH CORPORATION 0.3%

Value $489K Shares 18,163 Est. Cost $26.94 Unrealized —

PONY PONY AI INC 0.2%

Value $364K Shares 25,101 Est. Cost $14.50 Unrealized —

COIN COINBASE GLOBAL INC 0.2%

Value $362K Shares 1,600 Est. Cost — Unrealized —

CRVL CORVEL CORP 0.2%

Value $341K Shares 5,038 Est. Cost $72.43 Unrealized -16.9%

CRM SALESFORCE INC 0.2%

Value $307K Shares 1,157 Est. Cost $248.17 Unrealized -13.1%

DOX AMDOCS LTD 0.2%

Value $285K Shares 3,538 Est. Cost $79.88 Unrealized -3.5%

SOLS SOLSTICE ADVANCED MATLS INC 0.1%

Value $219K Shares 4,504 Est. Cost $47.08 Unrealized +38.5%

PATH UIPATH INC 0.1%

Value $199K Shares 12,165 Est. Cost $15.56 Unrealized -13.4%

AEC ANFIELD ENERGY INC 0.0%

Value $58,344 Shares 11,375 Est. Cost $7.08 Unrealized +1.4%

GLDG GOLDMINING INC 0.0%

Value $42,158 Shares 33,642 Est. Cost $1.39 Unrealized +13.0%

MSTR STRATEGY INC 0.0%

Value $18,538 Shares 122 Est. Cost $230.22 Unrealized -36.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RTX	RTX CORPORATION	29,380	$5.388M	3.3%	$173.32	+13.4%	—	75513E101
NVDA	NVIDIA CORPORATION	14,000	$2.611M	1.6%	$186.27	+0.2%	CALL	67066G104
TSLA	TESLA INC	5,400	$2.428M	1.5%	$432.02	-1.4%	CALL	88160R101
AAPL	APPLE INC	7,758	$2.109M	1.3%	$268.34	-2.1%	—	037833100
PLTR	PALANTIR TECHNOLOGIES INC	9,400	$1.671M	1.0%	$174.26	-11.5%	CALL	69608A108
INTC	INTEL CORP	43,428	$1.602M	1.0%	$37.76	+23.0%	—	458140100
MSFT	MICROSOFT CORP	3,070	$1.485M	0.9%	$500.58	-13.2%	—	594918104
ZETA	ZETA GLOBAL HOLDINGS CORP	60,402	$1.229M	0.8%	$18.68	+2.9%	—	98956A105
LSCC	LATTICE SEMICONDUCTOR CORP	14,690	$1.081M	0.7%	$73.58	—	—	518415104
BCS	BARCLAYS PLC	37,448	$953K	0.6%	$25.45	—	—	06738E204
CEVA	CEVA INC	43,631	$939K	0.6%	$24.55	-10.2%	—	157210105
MSTR	STRATEGY INC	6,000	$912K	0.6%	$230.22	-36.2%	CALL	594972408
NCNO	NCINO INC	20,512	$526K	0.3%	$25.39	-18.3%	—	63947X101
ZEPP	ZEPP HEALTH CORPORATION	18,163	$489K	0.3%	$26.94	—	—	98945L204
PONY	PONY AI INC	25,101	$364K	0.2%	$14.50	—	—	732908108
COIN	COINBASE GLOBAL INC	1,600	$362K	0.2%	—	—	CALL	19260Q107
CRVL	CORVEL CORP	5,038	$341K	0.2%	$72.43	-16.9%	—	221006109
CRM	SALESFORCE INC	1,157	$307K	0.2%	$248.17	-13.1%	—	79466L302
DOX	AMDOCS LTD	3,538	$285K	0.2%	$79.88	-3.5%	—	G02602103
SOLS	SOLSTICE ADVANCED MATLS INC	4,504	$219K	0.1%	$47.08	+38.5%	—	83443Q103
PATH	UIPATH INC	12,165	$199K	0.1%	$15.56	-13.4%	—	90364P105
AEC	ANFIELD ENERGY INC	11,375	$58,344	0.0%	$7.08	+1.4%	—	03464C205
GLDG	GOLDMINING INC	33,642	$42,158	0.0%	$1.39	+13.0%	—	38149E101
MSTR	STRATEGY INC	122	$18,538	0.0%	$230.22	-36.2%	—	594972408

Decreased Positions (19)

VERI VERITONE INC 0.4%

Value $643K (-76.6%) Shares 326,550 (-44.8%) Est. Cost $5.38 Unrealized -29.8%

GDYN GRID DYNAMICS HLDGS INC 0.2%

Value $382K (-70.7%) Shares 66,978 (-53.6%) Est. Cost $8.66 Unrealized -7.5%

GOOGL ALPHABET INC 0.6%

Value $965K (-40.0%) Shares 3,355 (-34.7%) Est. Cost $285.60 Unrealized +13.2%

AMD ADVANCED MICRO DEVICES INC 0.9%

Value $1.495M (-27.2%) Shares 7,349 (-23.4%) Est. Cost $224.60 Unrealized -1.3%

AVGO BROADCOM INC 0.7%

Value $1.143M (-30.7%) Shares 3,693 (-22.5%) Est. Cost $357.00 Unrealized -6.4%

DUOT DUOS TECHNOLOGIES GROUP INC 0.1%

Value $91,718 (-80.6%) Shares 13,370 (-68.2%) Est. Cost $9.38 Unrealized +4.4%

ANET ARISTA NETWORKS INC 0.3%

Value $469K (-42.7%) Shares 3,821 (-38.8%) Est. Cost $137.66 Unrealized -1.9%

CRNC CERENCE INC 0.2%

Value $306K (-52.4%) Shares 48,505 (-19.3%) Est. Cost $10.98 Unrealized -7.1%

AMZN AMAZON COM INC 0.7%

Value $1.198M (-19.4%) Shares 5,751 (-10.7%) Est. Cost $228.79 Unrealized -0.9%

RZLV REZOLVE AI PLC 0.3%

Value $407K (-40.3%) Shares 158,849 (-40.0%) Est. Cost $3.77 Unrealized -22.0%

IAG IAMGOLD CORP 0.9%

Value $1.413M (-15.9%) Shares 75,119 (-26.2%) Est. Cost $14.09 Unrealized +40.4%

AMBA AMBARELLA INC 0.3%

Value $467K (-33.2%) Shares 9,077 (-8.1%) Est. Cost $80.81 Unrealized -16.8%

EQX EQUINOX GOLD CORP 0.9%

Value $1.487M (-5.1%) Shares 102,995 (-7.7%) Est. Cost $12.62 Unrealized +23.0%

MFG MIZUHO FINANCIAL GROUP INC 0.6%

Value $980K (+4.2%) Shares 123,420 (-3.9%) Est. Cost $7.32 Unrealized —

AU ANGLOGOLD ASHANTI PLC 0.9%

Value $1.451M (+2.7%) Shares 14,899 (-10.0%) Est. Cost $77.50 Unrealized +33.7%

HSBC HSBC HLDGS PLC 0.6%

Value $994K (+3.6%) Shares 12,052 (-1.2%) Est. Cost $78.67 Unrealized —

BK BANK NEW YORK MELLON CORP 0.6%

Value $982K (-1.7%) Shares 8,278 (-3.8%) Est. Cost $110.50 Unrealized +8.7%

BB BLACKBERRY LTD 0.0%

Value $47,605 (-20.8%) Shares 14,693 (-7.3%) Est. Cost $4.40 Unrealized -17.1%

MUFG MITSUBISHI UFJ FINANCIAL GRO 0.6%

Value $961K (+1.1%) Shares 56,606 (-5.5%) Est. Cost $15.86 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VERI	VERITONE INC	326,550 (-44.8%)	$643K (-76.6%)	0.4%	$5.38	-29.8%	COM	92347M100
GDYN	GRID DYNAMICS HLDGS INC	66,978 (-53.6%)	$382K (-70.7%)	0.2%	$8.66	-7.5%	CL A	39813G109
GOOGL	ALPHABET INC	3,355 (-34.7%)	$965K (-40.0%)	0.6%	$285.60	+13.2%	CAP STK CL A	02079K305
AMD	ADVANCED MICRO DEVICES INC	7,349 (-23.4%)	$1.495M (-27.2%)	0.9%	$224.60	-1.3%	COM	007903107
AVGO	BROADCOM INC	3,693 (-22.5%)	$1.143M (-30.7%)	0.7%	$357.00	-6.4%	COM	11135F101
DUOT	DUOS TECHNOLOGIES GROUP INC	13,370 (-68.2%)	$91,718 (-80.6%)	0.1%	$9.38	+4.4%	COM	266042407
ANET	ARISTA NETWORKS INC	3,821 (-38.8%)	$469K (-42.7%)	0.3%	$137.66	-1.9%	COM SHS	040413205
CRNC	CERENCE INC	48,505 (-19.3%)	$306K (-52.4%)	0.2%	$10.98	-7.1%	COM	156727109
AMZN	AMAZON COM INC	5,751 (-10.7%)	$1.198M (-19.4%)	0.7%	$228.79	-0.9%	COM	023135106
RZLV	REZOLVE AI PLC	158,849 (-40.0%)	$407K (-40.3%)	0.3%	$3.77	-22.0%	ORD SHS	G75398100
IAG	IAMGOLD CORP	75,119 (-26.2%)	$1.413M (-15.9%)	0.9%	$14.09	+40.4%	COM	450913108
AMBA	AMBARELLA INC	9,077 (-8.1%)	$467K (-33.2%)	0.3%	$80.81	-16.8%	SHS	G037AX101
EQX	EQUINOX GOLD CORP	102,995 (-7.7%)	$1.487M (-5.1%)	0.9%	$12.62	+23.0%	COM	29446Y502
MFG	MIZUHO FINANCIAL GROUP INC	123,420 (-3.9%)	$980K (+4.2%)	0.6%	$7.32	—	SPONSORED ADR	60687Y109
AU	ANGLOGOLD ASHANTI PLC	14,899 (-10.0%)	$1.451M (+2.7%)	0.9%	$77.50	+33.7%	COM SHS	G0378L100
HSBC	HSBC HLDGS PLC	12,052 (-1.2%)	$994K (+3.6%)	0.6%	$78.67	—	SPON ADR NEW	404280406
BK	BANK NEW YORK MELLON CORP	8,278 (-3.8%)	$982K (-1.7%)	0.6%	$110.50	+8.7%	COM	064058100
BB	BLACKBERRY LTD	14,693 (-7.3%)	$47,605 (-20.8%)	0.0%	$4.40	-17.1%	COM	09228F103
MUFG	MITSUBISHI UFJ FINANCIAL GRO	56,606 (-5.5%)	$961K (+1.1%)	0.6%	$15.86	—	SPONSORED ADS	606822104

Unchanged Positions (3)

DNN DENISON MINES CORP 0.5%

Value $784K Shares 221,315 Est. Cost $2.72 Unrealized +38.6%

SMFG SUMITOMO MITSUI FIN GRP INC 0.6%

Value $967K Shares 48,975 Est. Cost $19.33 Unrealized —

TD TORONTO DOMINION BK ONT 0.6%

Value $949K Shares 10,168 Est. Cost $84.44 Unrealized +12.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DNN	DENISON MINES CORP	221,315	$784K	0.5%	$2.72	+38.6%	COM	248356107
SMFG	SUMITOMO MITSUI FIN GRP INC	48,975	$967K	0.6%	$19.33	—	SPONSORED ADR	86562M209
TD	TORONTO DOMINION BK ONT	10,168	$949K	0.6%	$84.44	+12.8%	COM NEW	891160509