Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DVN	DEVON ENERGY CORP NEW	22,188	$917K	0.4%	$41.32	—	COM	25179M103
AMD	ADVANCED MICRO DEVICES INC	912	$530K	0.2%	$580.67	—	COM	007903107
ABBV	ABBVIE INC	943	$237K	0.1%	$251.51	—	COM	00287Y109
MU	MICRON TECHNOLOGY INC	204	$236K	0.1%	$1155.47	—	COM	595112103
SPY	STATE STR SPDR S&P 500 ETF T	307	$229K	0.1%	$747.36	—	TR UNIT	78462F103
AOA	ISHARES TR	2,252	$220K	0.1%	$97.60	—	CORE 80 20 ETF	464289859
SCHA	SCHWAB STRATEGIC TR	5,596	$202K	0.1%	$36.13	—	US SML CAP ETF	808524607

Increased Positions (43)

XLE SELECT SECTOR SPDR TR 12.8%

Value $28.57M (+173.1%) Shares 537,917 (+215.0%) Est. Cost $52.41 Unrealized —

XOP SPDR SERIES TRUST 14.5%

Value $32.48M (-13.7%) Shares 210,558 (+1.7%) Est. Cost $131.54 Unrealized —

IEF ISHARES TR 6.1%

Value $13.63M (+19.3%) Shares 144,074 (+20.4%) Est. Cost $94.58 Unrealized —

GLD SPDR GOLD TR 6.3%

Value $14.02M (-12.9%) Shares 38,072 (+1.7%) Est. Cost $176.01 Unrealized —

SLV ISHARES SILVER TR 8.9%

Value $19.8M (-7.0%) Shares 370,232 (+18.5%) Est. Cost $29.08 Unrealized —

SCHV SCHWAB STRATEGIC TR 3.6%

Value $8.003M (+16.4%) Shares 229,916 (+2.0%) Est. Cost $34.88 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 2.5%

Value $5.617M (+13.1%) Shares 67,064 (+1.5%) Est. Cost $60.71 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 1.8%

Value $4.035M (+12.4%) Shares 67,595 (+1.8%) Est. Cost $46.37 Unrealized —

EOG EOG RES INC 0.5%

Value $1.134M (+46.4%) Shares 8,740 (+63.1%) Est. Cost $116.17 Unrealized —

VOO VANGUARD INDEX FDS 0.3%

Value $761K (+84.2%) Shares 1,108 (+60.3%) Est. Cost $640.25 Unrealized —

ITOT ISHARES TR 0.5%

Value $1.133M (+39.0%) Shares 6,895 (+20.5%) Est. Cost $133.56 Unrealized —

XLK SELECT SECTOR SPDR TR 0.3%

Value $756K (+70.1%) Shares 3,966 (+18.7%) Est. Cost $169.87 Unrealized —

DINO HF SINCLAIR CORP 0.9%

Value $1.911M (+16.6%) Shares 27,434 (+4.4%) Est. Cost $43.57 Unrealized —

SBSW SIBANYE STILLWATER LTD 0.4%

Value $873K (-22.2%) Shares 102,815 (+12.9%) Est. Cost $5.97 Unrealized —

BHP BHP BILLITON LIMITED 0.7%

Value $1.513M (+19.6%) Shares 18,157 (+4.4%) Est. Cost $58.90 Unrealized —

NVDA NVIDIA CORPORATION 0.5%

Value $1.022M (+29.7%) Shares 5,108 (+13.0%) Est. Cost $109.02 Unrealized —

KGC KINROSS GOLD CORP 0.5%

Value $1.055M (-17.5%) Shares 44,673 (+6.6%) Est. Cost $6.82 Unrealized —

AEM AGNICO EAGLE MINES LTD 0.5%

Value $1.126M (-16.4%) Shares 7,257 (+9.4%) Est. Cost $60.04 Unrealized —

ALB ALBEMARLE CORP 0.3%

Value $703K (-21.4%) Shares 5,205 (+4.5%) Est. Cost $64.01 Unrealized —

PAAS PAN AMERN SILVER CORP 0.5%

Value $1.206M (-11.2%) Shares 26,922 (+8.3%) Est. Cost $22.66 Unrealized —

BTG B2GOLD CORP 0.5%

Value $1.211M (-10.9%) Shares 323,855 (+7.9%) Est. Cost $3.48 Unrealized —

CNQ CANADIAN NAT RES LTD MED TER 0.4%

Value $930K (-13.5%) Shares 23,551 (+6.7%) Est. Cost $32.02 Unrealized —

AAPL APPLE INC 0.3%

Value $661K (+26.8%) Shares 2,286 (+11.2%) Est. Cost $161.18 Unrealized —

MOS MOSAIC CO 0.5%

Value $1.167M (-9.2%) Shares 55,066 (+9.2%) Est. Cost $27.24 Unrealized —

NTR NUTRIEN LTD 0.5%

Value $1.161M (-9.1%) Shares 18,437 (+8.9%) Est. Cost $57.40 Unrealized —

NEM NEWMONT CORP 0.6%

Value $1.305M (-7.5%) Shares 13,974 (+7.2%) Est. Cost $46.00 Unrealized —

RIO RIO TINTO PLC 0.7%

Value $1.606M (+6.6%) Shares 16,921 (+4.7%) Est. Cost $68.18 Unrealized —

AMZN AMAZON COM INC 0.2%

Value $391K (+30.3%) Shares 1,638 (+13.9%) Est. Cost $183.36 Unrealized —

FANG DIAMONDBACK ENERGY INC 0.4%

Value $952K (+10.5%) Shares 5,416 (+24.3%) Est. Cost $150.19 Unrealized —

CALM CAL MAINE FOODS INC 0.4%

Value $929K (+9.8%) Shares 11,529 (+7.9%) Est. Cost $70.78 Unrealized —

TSLA TESLA INC 0.1%

Value $274K (+27.0%) Shares 651 (+12.2%) Est. Cost $363.22 Unrealized —

MTDR MATADOR RES CO 0.5%

Value $1.028M (+4.8%) Shares 20,643 (+32.9%) Est. Cost $46.48 Unrealized —

HP HELMERICH & PAYNE INC 0.6%

Value $1.416M (-3.2%) Shares 43,253 (+6.6%) Est. Cost $26.66 Unrealized —

ES EVERSOURCE ENERGY 0.1%

Value $286K (+16.8%) Shares 3,962 (+11.9%) Est. Cost $61.60 Unrealized —

SCCO SOUTHERN COPPER CORP 0.3%

Value $674K (+5.7%) Shares 3,865 (+4.4%) Est. Cost $79.50 Unrealized —

B BARRICK MNG CORP 0.6%

Value $1.281M (-2.7%) Shares 34,879 (+8.1%) Est. Cost $20.59 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.1%

Value $250K (+13.2%) Shares 3,503 (+1.8%) Est. Cost $57.36 Unrealized —

ICL ICL GROUP LTD 0.3%

Value $598K (+4.9%) Shares 119,992 (+8.5%) Est. Cost $5.08 Unrealized —

SSRM SSR MINING IN 0.7%

Value $1.509M (-1.5%) Shares 53,356 (+2.3%) Est. Cost $12.60 Unrealized —

JHMB JOHN HANCOCK EXCHANGE TRADED 0.1%

Value $333K (+4.2%) Shares 15,184 (+4.5%) Est. Cost $22.13 Unrealized —

VALE VALE S A 0.3%

Value $736K (-0.3%) Shares 48,947 (+5.4%) Est. Cost $10.40 Unrealized —

— FS CREDIT OPPORTUNITIES CORP 0.0%

Value $96,782 (+1.2%) Shares 19,395 (+3.5%) Est. Cost $4.67 Unrealized —

TS TENARIS S A 0.6%

Value $1.38M (+0.0%) Shares 24,863 (+4.9%) Est. Cost $35.03 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XLE	SELECT SECTOR SPDR TR	537,917 (+215.0%)	$28.57M (+173.1%)	12.8%	$52.41	—	ST STR ENERG ETF	81369Y506
XOP	SPDR SERIES TRUST	210,558 (+1.7%)	$32.48M (-13.7%)	14.5%	$131.54	—	SP O&G EXPL PRO	78468R556
IEF	ISHARES TR	144,074 (+20.4%)	$13.63M (+19.3%)	6.1%	$94.58	—	7-10 YR TRSY BD	464287440
GLD	SPDR GOLD TR	38,072 (+1.7%)	$14.02M (-12.9%)	6.3%	$176.01	—	GOLD SHS	78463V107
SLV	ISHARES SILVER TR	370,232 (+18.5%)	$19.8M (-7.0%)	8.9%	$29.08	—	ISHARES	46428Q109
SCHV	SCHWAB STRATEGIC TR	229,916 (+2.0%)	$8.003M (+16.4%)	3.6%	$34.88	—	US LCAP VA ETF	808524409
VEU	VANGUARD INTL EQUITY INDEX F	67,064 (+1.5%)	$5.617M (+13.1%)	2.5%	$60.71	—	ALLWRLD EX US	922042775
VWO	VANGUARD INTL EQUITY INDEX F	67,595 (+1.8%)	$4.035M (+12.4%)	1.8%	$46.37	—	FTSE EMR MKT ETF	922042858
EOG	EOG RES INC	8,740 (+63.1%)	$1.134M (+46.4%)	0.5%	$116.17	—	COM	26875P101
VOO	VANGUARD INDEX FDS	1,108 (+60.3%)	$761K (+84.2%)	0.3%	$640.25	—	S&P 500 ETF SHS	922908363
ITOT	ISHARES TR	6,895 (+20.5%)	$1.133M (+39.0%)	0.5%	$133.56	—	CORE S&P TTL STK	464287150
XLK	SELECT SECTOR SPDR TR	3,966 (+18.7%)	$756K (+70.1%)	0.3%	$169.87	—	ST STR TECHN ETF	81369Y803
DINO	HF SINCLAIR CORP	27,434 (+4.4%)	$1.911M (+16.6%)	0.9%	$43.57	—	COM	403949100
SBSW	SIBANYE STILLWATER LTD	102,815 (+12.9%)	$873K (-22.2%)	0.4%	$5.97	—	SPONSORED ADR	82575P107
BHP	BHP BILLITON LIMITED	18,157 (+4.4%)	$1.513M (+19.6%)	0.7%	$58.90	—	SPONSORED ADS	088606108
NVDA	NVIDIA CORPORATION	5,108 (+13.0%)	$1.022M (+29.7%)	0.5%	$109.02	—	COM	67066G104
KGC	KINROSS GOLD CORP	44,673 (+6.6%)	$1.055M (-17.5%)	0.5%	$6.82	—	COM	496902404
AEM	AGNICO EAGLE MINES LTD	7,257 (+9.4%)	$1.126M (-16.4%)	0.5%	$60.04	—	COM	008474108
ALB	ALBEMARLE CORP	5,205 (+4.5%)	$703K (-21.4%)	0.3%	$64.01	—	COM	012653101
PAAS	PAN AMERN SILVER CORP	26,922 (+8.3%)	$1.206M (-11.2%)	0.5%	$22.66	—	COM	697900108
BTG	B2GOLD CORP	323,855 (+7.9%)	$1.211M (-10.9%)	0.5%	$3.48	—	COM	11777Q209
CNQ	CANADIAN NAT RES LTD MED TER	23,551 (+6.7%)	$930K (-13.5%)	0.4%	$32.02	—	COM	136385101
AAPL	APPLE INC	2,286 (+11.2%)	$661K (+26.8%)	0.3%	$161.18	—	COM	037833100
MOS	MOSAIC CO	55,066 (+9.2%)	$1.167M (-9.2%)	0.5%	$27.24	—	COM	61945C103
NTR	NUTRIEN LTD	18,437 (+8.9%)	$1.161M (-9.1%)	0.5%	$57.40	—	COM	67077M108
NEM	NEWMONT CORP	13,974 (+7.2%)	$1.305M (-7.5%)	0.6%	$46.00	—	COM	651639106
RIO	RIO TINTO PLC	16,921 (+4.7%)	$1.606M (+6.6%)	0.7%	$68.18	—	SPONSORED ADR	767204100
AMZN	AMAZON COM INC	1,638 (+13.9%)	$391K (+30.3%)	0.2%	$183.36	—	COM	023135106
FANG	DIAMONDBACK ENERGY INC	5,416 (+24.3%)	$952K (+10.5%)	0.4%	$150.19	—	COM	25278X109
CALM	CAL MAINE FOODS INC	11,529 (+7.9%)	$929K (+9.8%)	0.4%	$70.78	—	COM NEW	128030202
TSLA	TESLA INC	651 (+12.2%)	$274K (+27.0%)	0.1%	$363.22	—	COM	88160R101
MTDR	MATADOR RES CO	20,643 (+32.9%)	$1.028M (+4.8%)	0.5%	$46.48	—	COM	576485205
HP	HELMERICH & PAYNE INC	43,253 (+6.6%)	$1.416M (-3.2%)	0.6%	$26.66	—	COM	423452101
ES	EVERSOURCE ENERGY	3,962 (+11.9%)	$286K (+16.8%)	0.1%	$61.60	—	COM	30040W108
SCCO	SOUTHERN COPPER CORP	3,865 (+4.4%)	$674K (+5.7%)	0.3%	$79.50	—	COM	84265V105
B	BARRICK MNG CORP	34,879 (+8.1%)	$1.281M (-2.7%)	0.6%	$20.59	—	COM SHS	06849F108
VEA	VANGUARD TAX-MANAGED FDS	3,503 (+1.8%)	$250K (+13.2%)	0.1%	$57.36	—	VAN FTSE DEV MKT	921943858
ICL	ICL GROUP LTD	119,992 (+8.5%)	$598K (+4.9%)	0.3%	$5.08	—	SHS	M53213100
SSRM	SSR MINING IN	53,356 (+2.3%)	$1.509M (-1.5%)	0.7%	$12.60	—	COM	784730103
JHMB	JOHN HANCOCK EXCHANGE TRADED	15,184 (+4.5%)	$333K (+4.2%)	0.1%	$22.13	—	MORTGAGE BACKED	47804J792
VALE	VALE S A	48,947 (+5.4%)	$736K (-0.3%)	0.3%	$10.40	—	SPONSORED ADS	91912E105
—	FS CREDIT OPPORTUNITIES CORP	19,395 (+3.5%)	$96,782 (+1.2%)	0.0%	$4.67	—	COMMON STOCK	30290Y101
TS	TENARIS S A	24,863 (+4.9%)	$1.38M (+0.0%)	0.6%	$35.03	—	SPONSORED ADS	88031M109

Exited Positions (2)

CTRA COTERRA ENERGY INC 0.5%

Value $1.054M Shares 30,003 Est. Cost $25.15 Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.2%

Value $370K Shares 5,890 Est. Cost $47.13 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CTRA	COTERRA ENERGY INC	30,003	$1.054M	0.5%	$25.15	—	—	127097103
BSX	BOSTON SCIENTIFIC CORP	5,890	$370K	0.2%	$47.13	—	—	101137107

Decreased Positions (8)

TLT ISHARES TR 11.2%

Value $24.92M (-47.9%) Shares 288,384 (-47.7%) Est. Cost $102.66 Unrealized —

EDV VANGUARD WORLD FD 8.0%

Value $17.94M (-28.0%) Shares 275,654 (-28.1%) Est. Cost $65.39 Unrealized —

CEF SPROTT ASSET MANAGEMENT LP 3.7%

Value $8.334M (-18.4%) Shares 207,150 (-3.2%) Est. Cost $17.48 Unrealized —

JMTG J P MORGAN EXCHANGE TRADED F 0.3%

Value $592K (-16.8%) Shares 11,672 (-16.3%) Est. Cost $50.19 Unrealized —

DBO INVESCO DB MULTI-SECTOR COMM 0.1%

Value $193K (-31.4%) Shares 10,943 (-23.6%) Est. Cost $19.67 Unrealized —

EEM ISHARES TR 0.2%

Value $340K (+18.5%) Shares 4,972 (-1.6%) Est. Cost $47.67 Unrealized —

VTI VANGUARD INDEX FDS 0.1%

Value $316K (-4.3%) Shares 854 (-17.0%) Est. Cost $294.33 Unrealized —

VOE VANGUARD INDEX FDS 0.1%

Value $297K (+3.8%) Shares 1,502 (-3.2%) Est. Cost $144.13 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TLT	ISHARES TR	288,384 (-47.7%)	$24.92M (-47.9%)	11.2%	$102.66	—	20 YR TR BD ETF	464287432
EDV	VANGUARD WORLD FD	275,654 (-28.1%)	$17.94M (-28.0%)	8.0%	$65.39	—	EXTENDED DUR	921910709
CEF	SPROTT ASSET MANAGEMENT LP	207,150 (-3.2%)	$8.334M (-18.4%)	3.7%	$17.48	—	PHYSICAL GOLD AN	85208R101
JMTG	J P MORGAN EXCHANGE TRADED F	11,672 (-16.3%)	$592K (-16.8%)	0.3%	$50.19	—	MORTGAGE BACKED	46654Q575
DBO	INVESCO DB MULTI-SECTOR COMM	10,943 (-23.6%)	$193K (-31.4%)	0.1%	$19.67	—	OIL FD	46140H403
EEM	ISHARES TR	4,972 (-1.6%)	$340K (+18.5%)	0.2%	$47.67	—	MSCI EMG MKT ETF	464287234
VTI	VANGUARD INDEX FDS	854 (-17.0%)	$316K (-4.3%)	0.1%	$294.33	—	TOTAL STK MKT	922908769
VOE	VANGUARD INDEX FDS	1,502 (-3.2%)	$297K (+3.8%)	0.1%	$144.13	—	MCAP VL IDXVIP	922908512

Unchanged Positions (5)

GNR SPDR INDEX SHS FDS 2.7%

Value $6.023M Shares 89,485 Est. Cost $55.60 Unrealized —

CVS CVS HEALTH CORP 0.2%

Value $370K Shares 3,579 Est. Cost $62.28 Unrealized —

SCHX SCHWAB STRATEGIC TR 0.2%

Value $431K Shares 14,646 Est. Cost $32.55 Unrealized —

SCHF SCHWAB STRATEGIC TR 0.1%

Value $235K Shares 8,484 Est. Cost $24.04 Unrealized —

META META PLATFORMS INC 0.5%

Value $1.194M Shares 2,119 Est. Cost $280.03 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GNR	SPDR INDEX SHS FDS	89,485	$6.023M	2.7%	$55.60	—	ST STR NAT ETF	78463X541
CVS	CVS HEALTH CORP	3,579	$370K	0.2%	$62.28	—	COM	126650100
SCHX	SCHWAB STRATEGIC TR	14,646	$431K	0.2%	$32.55	—	US LRG CAP ETF	808524201
SCHF	SCHWAB STRATEGIC TR	8,484	$235K	0.1%	$24.04	—	INTL EQTY ETF	808524805
META	META PLATFORMS INC	2,119	$1.194M	0.5%	$280.03	—	CL A	30303M102