Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IJR	ISHARES TR	188,643	$27.98M	4.4%	$148.31	—	CORE S&P SCP ETF	464287804
XBI	SPDR SERIES TRUST	146,497	$23.18M	3.7%	$158.25	—	ST STR SP BIOT	78464A870
KRE	SPDR SERIES TRUST	195,047	$14.6M	2.3%	$74.85	—	ST STR SP REGBNK	78464A698
SGOL	ETFS GOLD TR	185,905	$7.107M	1.1%	$38.23	—	PHYSCL GOLD SHS	00326A104
RING	ISHARES INC	22,550	$1.457M	0.2%	$64.60	—	MSCI GBL GOLD MN	46434G855
—	ABRDN PLATINUM ETF TRUST	10,000	$887K	0.1%	—	—	CALL	003260906
SIVR	ABRDN SILVER ETF TRUST	12,540	$705K	0.1%	$56.22	—	PHYSCL SILVR SHS	003264108
AMZN	AMAZON COM INC	1,137	$271K	0.0%	$238.34	—	COM	023135106
IEFA	ISHARES TR	2,312	$223K	0.0%	$96.58	—	CORE MSCI EAFE	46432F842
PXJ	INVESCO EXCHANGE TRADED FD T	5,289	$204K	0.0%	$38.55	—	OIL GAS SVC ETF	46137Y872
CDE	COEUR MNG INC	10,017	$163K	0.0%	$16.32	—	COM NEW	192108504
—	HECLA MINING COMPANY	11,900	$51,765	0.0%	—	—	CALL	422704906
ELBM	ELECTRA BATTERY MATERIALS CO	13,000	$7,849	0.0%	$0.60	—	COM	28474P706

Increased Positions (35)

EEM ISHARES TR 6.3%

Value $39.9M (+23.5%) Shares 583,206 (+2.5%) Est. Cost $49.13 Unrealized —

XLI SELECT SECTOR SPDR TR 6.0%

Value $37.73M (+18.6%) Shares 203,706 (+3.5%) Est. Cost $139.08 Unrealized —

GDX VANECK ETF TRUST 4.9%

Value $30.94M (-16.0%) Shares 410,104 (+2.2%) Est. Cost $36.86 Unrealized —

TLT ISHARES TR 7.4%

Value $46.76M (+12.0%) Shares 541,075 (+12.4%) Est. Cost $95.74 Unrealized —

EFA ISHARES TR 5.5%

Value $35.05M (+10.9%) Shares 337,374 (+3.7%) Est. Cost $84.01 Unrealized —

IEI ISHARES TR 5.5%

Value $34.65M (+7.3%) Shares 294,999 (+8.3%) Est. Cost $118.29 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 3.0%

Value $18.72M (+14.1%) Shares 87,977 (+3.0%) Est. Cost $177.18 Unrealized —

PICK ISHARES INC 5.4%

Value $34.12M (+6.8%) Shares 586,820 (+3.9%) Est. Cost $51.87 Unrealized —

CEF SPROTT ASSET MANAGEMENT LP 2.2%

Value $13.96M (-11.3%) Shares 346,918 (+5.2%) Est. Cost $21.29 Unrealized —

EMLC VANECK ETF TRUST 2.8%

Value $17.45M (+10.7%) Shares 682,766 (+8.7%) Est. Cost $24.30 Unrealized —

XLU SELECT SECTOR SPDR TR 4.3%

Value $27.09M (+4.9%) Shares 597,390 (+6.2%) Est. Cost $59.60 Unrealized —

PSLV SPROTT ASSET MANAGEMENT LP 0.7%

Value $4.458M (-18.9%) Shares 236,272 (+4.8%) Est. Cost $14.11 Unrealized —

XES SPDR SERIES TRUST 6.6%

Value $41.61M (-2.4%) Shares 371,274 (+1.3%) Est. Cost $82.36 Unrealized —

TSLA TESLA INC 0.3%

Value $1.605M (+147.5%) Shares 3,817 (+118.7%) Est. Cost $337.24 Unrealized —

— INVESCO QQQ TR 0.2%

Value $1.175M (+333.3%) Shares 2,600 (+333.3%) Est. Cost — Unrealized —

HGER HARBOR ETF TRUST 5.9%

Value $37.4M (-1.8%) Shares 1,274,824 (+3.8%) Est. Cost $22.22 Unrealized —

GDXJ VANECK ETF TRUST 0.4%

Value $2.71M (-17.0%) Shares 27,584 (+1.4%) Est. Cost $47.89 Unrealized —

SILJ AMPLIFY ETF TR 0.2%

Value $1.247M (+68.7%) Shares 48,098 (+93.5%) Est. Cost $22.42 Unrealized —

SPTL SPDR SERIES TRUST 1.0%

Value $6.522M (+7.5%) Shares 248,658 (+7.8%) Est. Cost $27.34 Unrealized —

ILF ISHARES TR 5.6%

Value $35.4M (-1.0%) Shares 1,048,773 (+4.2%) Est. Cost $26.79 Unrealized —

SGDM SPROTT ETF TRUST 0.3%

Value $1.897M (+20.7%) Shares 30,181 (+44.9%) Est. Cost $45.54 Unrealized —

— STATE STR SPDR S&P 500 ETF T 0.3%

Value $1.669M (+23.3%) Shares 3,700 (+23.3%) Est. Cost — Unrealized —

AAPL APPLE INC 0.2%

Value $1.189M (+33.1%) Shares 4,110 (+16.7%) Est. Cost $213.72 Unrealized —

PHYS SPROTT ASSET MANAGEMENT LP 0.6%

Value $3.571M (-7.3%) Shares 118,358 (+8.9%) Est. Cost $22.39 Unrealized —

GLD SPDR GOLD TR 0.1%

Value $734K (+51.5%) Shares 1,992 (+76.9%) Est. Cost $320.63 Unrealized —

SCHZ SCHWAB STRATEGIC TR 0.1%

Value $605K (+24.7%) Shares 26,162 (+25.2%) Est. Cost $32.16 Unrealized —

HL HECLA MINING COMPANY 0.1%

Value $858K (+14.1%) Shares 55,581 (+37.7%) Est. Cost $21.71 Unrealized —

BIL SPDR SERIES TRUST 0.2%

Value $1.067M (+9.7%) Shares 11,640 (+9.7%) Est. Cost $91.69 Unrealized —

SPYM SPDR SERIES TRUST 0.0%

Value $294K (+26.7%) Shares 3,344 (+10.4%) Est. Cost $74.12 Unrealized —

AEM AGNICO EAGLE MINES LTD 0.1%

Value $471K (+14.4%) Shares 3,039 (+49.7%) Est. Cost $111.42 Unrealized —

BITB BITWISE BITCOIN ETF TR 0.1%

Value $899K (+6.3%) Shares 28,213 (+22.8%) Est. Cost $44.55 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value $344K (+14.8%) Shares 5,770 (+3.9%) Est. Cost $45.40 Unrealized —

UEC URANIUM ENERGY CORP 0.0%

Value $197K (-17.9%) Shares 18,525 (+3.9%) Est. Cost $4.40 Unrealized —

NEM NEWMONT CORP 0.0%

Value $263K (-11.0%) Shares 2,819 (+3.1%) Est. Cost $117.36 Unrealized —

WPM WHEATON PRECIOUS METALS CORP 0.1%

Value $443K (+3.6%) Shares 3,943 (+20.9%) Est. Cost $83.43 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EEM	ISHARES TR	583,206 (+2.5%)	$39.9M (+23.5%)	6.3%	$49.13	—	MSCI EMG MKT ETF	464287234
XLI	SELECT SECTOR SPDR TR	203,706 (+3.5%)	$37.73M (+18.6%)	6.0%	$139.08	—	ST STR INDL ETF	81369Y704
GDX	VANECK ETF TRUST	410,104 (+2.2%)	$30.94M (-16.0%)	4.9%	$36.86	—	GOLD MINERS ETF	92189F106
TLT	ISHARES TR	541,075 (+12.4%)	$46.76M (+12.0%)	7.4%	$95.74	—	20 YR TR BD ETF	464287432
EFA	ISHARES TR	337,374 (+3.7%)	$35.05M (+10.9%)	5.5%	$84.01	—	MSCI EAFE ETF	464287465
IEI	ISHARES TR	294,999 (+8.3%)	$34.65M (+7.3%)	5.5%	$118.29	—	3 7 YR TREAS BD	464288661
RSP	INVESCO EXCHANGE TRADED FD T	87,977 (+3.0%)	$18.72M (+14.1%)	3.0%	$177.18	—	S&P500 EQL WGT	46137V357
PICK	ISHARES INC	586,820 (+3.9%)	$34.12M (+6.8%)	5.4%	$51.87	—	MSCI GBL ETF NEW	46434G848
CEF	SPROTT ASSET MANAGEMENT LP	346,918 (+5.2%)	$13.96M (-11.3%)	2.2%	$21.29	—	PHYSICAL GOLD AN	85208R101
EMLC	VANECK ETF TRUST	682,766 (+8.7%)	$17.45M (+10.7%)	2.8%	$24.30	—	JP MRGAN EM LOC	92189H300
XLU	SELECT SECTOR SPDR TR	597,390 (+6.2%)	$27.09M (+4.9%)	4.3%	$59.60	—	ST STR UTIL ETF	81369Y886
PSLV	SPROTT ASSET MANAGEMENT LP	236,272 (+4.8%)	$4.458M (-18.9%)	0.7%	$14.11	—	PHYSICAL SILVER	85207K107
XES	SPDR SERIES TRUST	371,274 (+1.3%)	$41.61M (-2.4%)	6.6%	$82.36	—	SP O&G EQP SERV	78468R549
TSLA	TESLA INC	3,817 (+118.7%)	$1.605M (+147.5%)	0.3%	$337.24	—	COM	88160R101
—	INVESCO QQQ TR	2,600 (+333.3%)	$1.175M (+333.3%)	0.2%	—	—	PUT	46090E953
HGER	HARBOR ETF TRUST	1,274,824 (+3.8%)	$37.4M (-1.8%)	5.9%	$22.22	—	COMM ALL WEA ETF	41151J505
GDXJ	VANECK ETF TRUST	27,584 (+1.4%)	$2.71M (-17.0%)	0.4%	$47.89	—	JUNIOR GOLD MINE	92189F791
SILJ	AMPLIFY ETF TR	48,098 (+93.5%)	$1.247M (+68.7%)	0.2%	$22.42	—	JR SILV MINE ETF	032108649
SPTL	SPDR SERIES TRUST	248,658 (+7.8%)	$6.522M (+7.5%)	1.0%	$27.34	—	ST LON TREAS ETF	78464A664
ILF	ISHARES TR	1,048,773 (+4.2%)	$35.4M (-1.0%)	5.6%	$26.79	—	LATN AMER 40 ETF	464287390
SGDM	SPROTT ETF TRUST	30,181 (+44.9%)	$1.897M (+20.7%)	0.3%	$45.54	—	GOLD MINERS ETF	85210B102
—	STATE STR SPDR S&P 500 ETF T	3,700 (+23.3%)	$1.669M (+23.3%)	0.3%	—	—	PUT	78462F953
AAPL	APPLE INC	4,110 (+16.7%)	$1.189M (+33.1%)	0.2%	$213.72	—	COM	037833100
PHYS	SPROTT ASSET MANAGEMENT LP	118,358 (+8.9%)	$3.571M (-7.3%)	0.6%	$22.39	—	PHYSICAL GOLD TR	85207H104
GLD	SPDR GOLD TR	1,992 (+76.9%)	$734K (+51.5%)	0.1%	$320.63	—	GOLD SHS	78463V107
SCHZ	SCHWAB STRATEGIC TR	26,162 (+25.2%)	$605K (+24.7%)	0.1%	$32.16	—	US AGGREGATE B	808524839
HL	HECLA MINING COMPANY	55,581 (+37.7%)	$858K (+14.1%)	0.1%	$21.71	—	COM	422704106
BIL	SPDR SERIES TRUST	11,640 (+9.7%)	$1.067M (+9.7%)	0.2%	$91.69	—	ST STR BLO 1 ETF	78468R663
SPYM	SPDR SERIES TRUST	3,344 (+10.4%)	$294K (+26.7%)	0.0%	$74.12	—	ST STR P500ETF	78464A854
AEM	AGNICO EAGLE MINES LTD	3,039 (+49.7%)	$471K (+14.4%)	0.1%	$111.42	—	COM	008474108
BITB	BITWISE BITCOIN ETF TR	28,213 (+22.8%)	$899K (+6.3%)	0.1%	$44.55	—	SHS BEN INT	09174C104
VWO	VANGUARD INTL EQUITY INDEX F	5,770 (+3.9%)	$344K (+14.8%)	0.1%	$45.40	—	FTSE EMR MKT ETF	922042858
UEC	URANIUM ENERGY CORP	18,525 (+3.9%)	$197K (-17.9%)	0.0%	$4.40	—	COM	916896103
NEM	NEWMONT CORP	2,819 (+3.1%)	$263K (-11.0%)	0.0%	$117.36	—	COM	651639106
WPM	WHEATON PRECIOUS METALS CORP	3,943 (+20.9%)	$443K (+3.6%)	0.1%	$83.43	—	COM	962879102

Exited Positions (6)

— NVIDIA CORPORATION 0.4%

Value $2.522M Shares 5,200 Est. Cost — Unrealized —

QQQI NEOS ETF TRUST 0.1%

Value $348K Shares 7,013 Est. Cost $49.69 Unrealized —

JPM JPMORGAN CHASE & CO 0.0%

Value $299K Shares 1,017 Est. Cost $266.20 Unrealized —

— HOME DEPOT INC 0.0%

Value $233K Shares 700 Est. Cost — Unrealized —

HD HOME DEPOT INC 0.0%

Value $231K Shares 703 Est. Cost $380.72 Unrealized —

— VANECK ETF TRUST 0.0%

Value $209K Shares 7,200 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	NVIDIA CORPORATION	5,200	$2.522M	0.4%	—	—	PUT	67066G954
QQQI	NEOS ETF TRUST	7,013	$348K	0.1%	$49.69	—	—	78433H675
JPM	JPMORGAN CHASE & CO	1,017	$299K	0.0%	$266.20	—	—	46625H100
—	HOME DEPOT INC	700	$233K	0.0%	—	—	PUT	437076952
HD	HOME DEPOT INC	703	$231K	0.0%	$380.72	—	—	437076102
—	VANECK ETF TRUST	7,200	$209K	0.0%	—	—	CALL	92189F906

Decreased Positions (16)

IAU ISHARES GOLD TR 1.6%

Value $10.24M (-65.9%) Shares 135,621 (-60.2%) Est. Cost $88.16 Unrealized —

— SPDR SERIES TRUST 0.0%

Value $224K (-98.0%) Shares 3,600 (-98.0%) Est. Cost — Unrealized —

XNTK SPDR SERIES TRUST 5.2%

Value $32.94M (+22.8%) Shares 84,333 (-19.7%) Est. Cost $214.94 Unrealized —

SGOV ISHARES TR 0.4%

Value $2.681M (-24.1%) Shares 26,636 (-24.1%) Est. Cost $100.64 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.2%

Value $1.287M (-29.3%) Shares 1,723 (-38.5%) Est. Cost $650.34 Unrealized —

SIL GLOBAL X FDS 0.4%

Value $2.331M (-16.7%) Shares 30,088 (-3.2%) Est. Cost $49.90 Unrealized —

NVDA NVIDIA CORPORATION 0.3%

Value $1.584M (+10.5%) Shares 7,916 (-3.7%) Est. Cost $152.50 Unrealized —

FNV FRANCO NEV CORP 0.1%

Value $381K (-18.7%) Shares 1,827 (-3.6%) Est. Cost $129.23 Unrealized —

FRDM EA SERIES TRUST 0.0%

Value $225K (-24.9%) Shares 3,088 (-43.7%) Est. Cost $35.05 Unrealized —

XOM EXXON MOBIL CORP 0.0%

Value $208K (-23.9%) Shares 1,525 (-5.5%) Est. Cost $138.74 Unrealized —

AG FIRST MAJESTIC SILVER CORP 0.0%

Value $205K (-21.8%) Shares 12,096 (-1.0%) Est. Cost $14.41 Unrealized —

EMXC ISHARES INC 0.0%

Value $205K (-12.3%) Shares 2,005 (-32.5%) Est. Cost $67.51 Unrealized —

— APPLE INC 0.1%

Value $398K (-4.5%) Shares 2,100 (-4.5%) Est. Cost — Unrealized —

— SPDR GOLD TR 0.0%

Value $270K (-6.3%) Shares 1,500 (-6.3%) Est. Cost — Unrealized —

VOO VANGUARD INDEX FDS 0.0%

Value $212K (+6.0%) Shares 309 (-7.8%) Est. Cost $597.55 Unrealized —

MSFT MICROSOFT CORP 0.0%

Value $290K (-1.6%) Shares 778 (-2.4%) Est. Cost $425.78 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IAU	ISHARES GOLD TR	135,621 (-60.2%)	$10.24M (-65.9%)	1.6%	$88.16	—	ISHARES NEW	464285204
—	SPDR SERIES TRUST	3,600 (-98.0%)	$224K (-98.0%)	0.0%	—	—	PUT	78464A954
XNTK	SPDR SERIES TRUST	84,333 (-19.7%)	$32.94M (+22.8%)	5.2%	$214.94	—	ST STR NYSE TECH	78464A102
SGOV	ISHARES TR	26,636 (-24.1%)	$2.681M (-24.1%)	0.4%	$100.64	—	0-3 MTH TREASURY	46436E718
SPY	STATE STR SPDR S&P 500 ETF T	1,723 (-38.5%)	$1.287M (-29.3%)	0.2%	$650.34	—	TR UNIT	78462F103
SIL	GLOBAL X FDS	30,088 (-3.2%)	$2.331M (-16.7%)	0.4%	$49.90	—	GLOBAL X SILVER	37954Y848
NVDA	NVIDIA CORPORATION	7,916 (-3.7%)	$1.584M (+10.5%)	0.3%	$152.50	—	COM	67066G104
FNV	FRANCO NEV CORP	1,827 (-3.6%)	$381K (-18.7%)	0.1%	$129.23	—	COM	351858105
FRDM	EA SERIES TRUST	3,088 (-43.7%)	$225K (-24.9%)	0.0%	$35.05	—	FREEDOM 100 EM	02072L607
XOM	EXXON MOBIL CORP	1,525 (-5.5%)	$208K (-23.9%)	0.0%	$138.74	—	COM	30231G102
AG	FIRST MAJESTIC SILVER CORP	12,096 (-1.0%)	$205K (-21.8%)	0.0%	$14.41	—	COM	32076V103
EMXC	ISHARES INC	2,005 (-32.5%)	$205K (-12.3%)	0.0%	$67.51	—	MSCI EMRG CHN	46434G764
—	APPLE INC	2,100 (-4.5%)	$398K (-4.5%)	0.1%	—	—	PUT	037833950
—	SPDR GOLD TR	1,500 (-6.3%)	$270K (-6.3%)	0.0%	—	—	CALL	78463V907
VOO	VANGUARD INDEX FDS	309 (-7.8%)	$212K (+6.0%)	0.0%	$597.55	—	S&P 500 ETF SHS	922908363
MSFT	MICROSOFT CORP	778 (-2.4%)	$290K (-1.6%)	0.0%	$425.78	—	COM	594918104

Unchanged Positions (4)

SLV ISHARES SILVER TR 3.0%

Value $18.99M Shares 355,214 Est. Cost $33.07 Unrealized —

NXE NEXGEN ENERGY LTD 0.0%

Value $225K Shares 24,000 Est. Cost $6.30 Unrealized —

DNN DENISON MINES CORP 0.0%

Value $82,620 Shares 27,000 Est. Cost $1.41 Unrealized —

— TEMPLETON EMERGING MKTS INCO 0.0%

Value $94,542 Shares 14,027 Est. Cost $5.15 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SLV	ISHARES SILVER TR	355,214	$18.99M	3.0%	$33.07	—	ISHARES	46428Q109
NXE	NEXGEN ENERGY LTD	24,000	$225K	0.0%	$6.30	—	COM	65340P106
DNN	DENISON MINES CORP	27,000	$82,620	0.0%	$1.41	—	COM	248356107
—	TEMPLETON EMERGING MKTS INCO	14,027	$94,542	0.0%	$5.15	—	COM	880192109