Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXONMOBIL HLDGS CORP	26,595	$4.328M	3.8%	$162.75	$162.75	—	COM	30233Q108
SCCO	SOUTHERN COPPER CORP	18,870	$3.824M	3.4%	$202.64	$192.19	+5.4%	COM	84265V105
KHC	KRAFT HEINZ CO	126,812	$2.881M	2.6%	$22.72	$25.17	-9.7%	COM	500754106
TEVJF	TEVA PHARMACEUTICAL IN F	71,130	$2.817M	2.5%	$39.60	$33.71	+15.6%	FGO	M8769Q102
GILD	GILEAD SCIENCES INC	1,387	$207K	0.2%	$149.05	$140.31	+6.2%	COM	375558103
RIG	TRANSOCEAN LTD F	26,999	$141K	0.1%	$5.24	$5.47	-4.2%	FGO	H8817H100

Increased Positions (7)

INTC INTEL CORP 2.5%

Value $2.806M (+51.7%) Shares 23,339 (+76.2%) Share Price $120.23 Est. Cost/Share $67.34 Unrealized @ Report Date +78.5%

PLTR PALANTIR TECHNOLOGIES IN 1.3%

Value $1.506M (+139.0%) Shares 8,050 (+49.1%) Share Price $187.05 Est. Cost/Share $143.97 Unrealized @ Report Date +29.9%

LYG LLOYDS BANKING GROUP P F 2.4%

Value $2.653M (+21.4%) Shares 471,161 (+25.8%) Share Price $5.63 Est. Cost/Share $5.21 Unrealized @ Report Date +8.1%

MSFT MICROSOFT CORP 0.8%

Value $898K (+38.9%) Shares 1,750 (+1.0%) Share Price $512.90 Est. Cost/Share $418.38 Unrealized @ Report Date +22.6%

SCHW CHARLES SCHWAB CORP 2.8%

Value $3.122M (+8.3%) Shares 31,944 (+2.2%) Share Price $97.74 Est. Cost/Share $94.61 Unrealized @ Report Date +3.3%

KMI KINDER MORGAN INC DEL 4.3%

Value $4.827M (-3.8%) Shares 160,095 (+2.0%) Share Price $30.15 Est. Cost/Share $27.72 Unrealized @ Report Date +8.8%

GE GE AEROSPACE 0.3%

Value $361K (-15.1%) Shares 1,155 (+1.6%) Share Price $312.29 Est. Cost/Share $314.80 Unrealized @ Report Date -0.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
INTC	INTEL CORP	23,339 (+76.2%)	$2.806M (+51.7%)	2.5%	$120.23	$67.34	+78.5%	COM	458140100
PLTR	PALANTIR TECHNOLOGIES IN	8,050 (+49.1%)	$1.506M (+139.0%)	1.3%	$187.05	$143.97	+29.9%	COM	69608A108
LYG	LLOYDS BANKING GROUP P F	471,161 (+25.8%)	$2.653M (+21.4%)	2.4%	$5.63	$5.21	+8.1%	ADR	539439109
MSFT	MICROSOFT CORP	1,750 (+1.0%)	$898K (+38.9%)	0.8%	$512.90	$418.38	+22.6%	COM	594918104
SCHW	CHARLES SCHWAB CORP	31,944 (+2.2%)	$3.122M (+8.3%)	2.8%	$97.74	$94.61	+3.3%	COM	808513105
KMI	KINDER MORGAN INC DEL	160,095 (+2.0%)	$4.827M (-3.8%)	4.3%	$30.15	$27.72	+8.8%	COM	49456B101
GE	GE AEROSPACE	1,155 (+1.6%)	$361K (-15.1%)	0.3%	$312.29	$314.80	-0.8%	COM	369604301

Exited Positions (8)

XOM EXXON MOBIL CORP 3.3%

Value $3.759M Shares 27,497 Share Price $136.72 * Est. Cost/Share $117.22 Unrealized @ Report Date +38.8%

OLN OLIN CORP 2.8%

Value $3.108M Shares 156,798 Share Price $19.82 * Est. Cost/Share $26.14 Unrealized @ Report Date -40.7%

TEVA TEVA PHARMACEUTICAL IN F 2.5%

Value $2.797M Shares 82,550 Share Price $33.88 * Est. Cost/Share $24.64 Unrealized @ Report Date +60.7%

SIF SIFCO INDS INC 0.2%

Value $204K Shares 8,700 Share Price $23.40 * Est. Cost/Share $18.22 Unrealized @ Report Date +24.3%

ALOY REALLOYS INC 0.2%

Value $202K Shares 14,000 Share Price $14.45 * Est. Cost/Share $11.40 Unrealized @ Report Date -28.3%

LPTH LIGHTPATH TECHNOLOGIES I 0.1%

Value $164K Shares 10,000 Share Price $16.35 * Est. Cost/Share $13.96 Unrealized @ Report Date -26.1%

USAS AMERICAS GOLD & SILVER F 0.1%

Value $158K Shares 33,500 Share Price $4.72 * Est. Cost/Share $7.27 Unrealized @ Report Date -40.0%

INV INNVENTURE INC 0.0%

Value $50,700 Shares 10,000 Share Price $5.07 * Est. Cost/Share $5.88 Unrealized @ Report Date -90.3%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXON MOBIL CORP	27,497	$3.759M	3.3%	$136.72 *	$117.22	+38.8%	—	30231G102
OLN	OLIN CORP	156,798	$3.108M	2.8%	$19.82 *	$26.14	-40.7%	—	680665205
TEVA	TEVA PHARMACEUTICAL IN F	82,550	$2.797M	2.5%	$33.88 *	$24.64	+60.7%	—	881624209
SIF	SIFCO INDS INC	8,700	$204K	0.2%	$23.40 *	$18.22	+24.3%	—	826546103
ALOY	REALLOYS INC	14,000	$202K	0.2%	$14.45 *	$11.40	-28.3%	—	75606V101
LPTH	LIGHTPATH TECHNOLOGIES I	10,000	$164K	0.1%	$16.35 *	$13.96	-26.1%	—	532257805
USAS	AMERICAS GOLD & SILVER F	33,500	$158K	0.1%	$4.72 *	$7.27	-40.0%	—	03062D803
INV	INNVENTURE INC	10,000	$50,700	0.0%	$5.07 *	$5.88	-90.3%	—	45784M108

Decreased Positions (24)

GLW CORNING INC 3.8%

Value $4.226M (-42.5%) Shares 27,487 (-4.4%) Share Price $153.76 Est. Cost/Share $85.98 Unrealized @ Report Date +78.8%

SFD SMITHFIELD FOODS INC 2.4%

Value $2.749M (-28.1%) Shares 146,861 (-6.8%) Share Price $18.72 Est. Cost/Share $24.01 Unrealized @ Report Date -22.0%

UL UNILEVER PLC F 0.9%

Value $1.069M (-46.1%) Shares 17,606 (-46.6%) Share Price $60.73 Est. Cost/Share $67.26 Unrealized @ Report Date -9.7%

IBM IBM CORP 2.6%

Value $2.916M (-23.0%) Shares 13,260 (-1.5%) Share Price $219.92 Est. Cost/Share $298.78 Unrealized @ Report Date -26.4%

VLO VALERO ENERGY CORP NEW 3.4%

Value $3.814M (+28.1%) Shares 9,841 (-13.9%) Share Price $387.61 Est. Cost/Share $208.04 Unrealized @ Report Date +86.3%

ENB ENBRIDGE INC F 3.4%

Value $3.81M (-17.3%) Shares 81,958 (-3.6%) Share Price $46.49 Est. Cost/Share $48.83 Unrealized @ Report Date -4.8%

GSL GLOBAL SHIP LEASE INC F 4.7%

Value $5.296M (+14.0%) Shares 119,981 (-2.9%) Share Price $44.14 Est. Cost/Share $33.32 Unrealized @ Report Date +32.5%

NEM NEWMONT CORP 3.9%

Value $4.338M (+15.8%) Shares 37,610 (-6.2%) Share Price $115.34 Est. Cost/Share $90.20 Unrealized @ Report Date +27.9%

RF REGIONS FINL CORP NEW 3.4%

Value $3.856M (-12.6%) Shares 143,467 (-1.8%) Share Price $26.88 Est. Cost/Share $25.37 Unrealized @ Report Date +5.9%

ABBNY ABB LTD F 2.6%

Value $2.917M (-14.3%) Shares 30,804 (-1.7%) Share Price $94.71 Est. Cost/Share $72.50 Unrealized @ Report Date +30.6%

CVX CHEVRON CORP NEW 2.1%

Value $2.355M (+18.5%) Shares 11,534 (-3.8%) Share Price $204.21 Est. Cost/Share $151.40 Unrealized @ Report Date +34.9%

PPL PPL CORP 2.1%

Value $2.363M (-13.3%) Shares 71,845 (-4.2%) Share Price $32.89 Est. Cost/Share $35.87 Unrealized @ Report Date -8.3%

TXN TEXAS INSTRS INC 3.3%

Value $3.723M (-7.7%) Shares 13,293 (-1.7%) Share Price $280.09 Est. Cost/Share $170.73 Unrealized @ Report Date +64.1%

PG PROCTER & GAMBLE CO 0.4%

Value $498K (-37.4%) Shares 3,426 (-36.9%) Share Price $145.28 Est. Cost/Share $151.38 Unrealized @ Report Date -4.0%

CFG CITIZENS FINL GROUP INC 1.5%

Value $1.679M (-11.5%) Shares 26,331 (-2.8%) Share Price $63.76 Est. Cost/Share $56.46 Unrealized @ Report Date +12.9%

VTRS VIATRIS INC 6.1%

Value $6.919M (+1.2%) Shares 390,490 (-9.3%) Share Price $17.72 Est. Cost/Share $13.17 Unrealized @ Report Date +34.5%

B BARRICK MNG CORP F 0.6%

Value $717K (-9.5%) Shares 17,640 (-18.3%) Share Price $40.67 Est. Cost/Share $40.99 Unrealized @ Report Date -0.8%

MRK MERCK & CO. INC. 0.7%

Value $735K (+10.8%) Shares 5,056 (-2.0%) Share Price $145.31 Est. Cost/Share $115.48 Unrealized @ Report Date +25.8%

FCX FREEPORT-MCMORAN INC 3.0%

Value $3.407M (+2.0%) Shares 48,673 (-8.3%) Share Price $70.00 Est. Cost/Share $53.03 Unrealized @ Report Date +32.0%

ABBV ABBVIE INC 4.0%

Value $4.517M (+0.8%) Shares 17,266 (-3.0%) Share Price $261.59 Est. Cost/Share $227.54 Unrealized @ Report Date +15.0%

ET ENERGY TRANSFER L P LP 2.7%

Value $3.028M (+1.0%) Shares 153,138 (-2.3%) Share Price $19.77 Est. Cost/Share $16.49 Unrealized @ Report Date —

GLD SPDR GOLD SHARES 1.0%

Value $1.089M (+2.2%) Shares 2,860 (-1.1%) Share Price $380.84 Est. Cost/Share $447.41 Unrealized @ Report Date -14.9%

USB US BANCORP DEL 0.2%

Value $251K (-7.6%) Shares 4,350 (-3.3%) Share Price $57.76 Est. Cost/Share $54.96 Unrealized @ Report Date +5.1%

SLV ISHARES SILVER TRUST 1.8%

Value $2.001M (+0.2%) Shares 36,718 (-1.7%) Share Price $54.51 Est. Cost/Share $50.06 Unrealized @ Report Date +8.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GLW	CORNING INC	27,487 (-4.4%)	$4.226M (-42.5%)	3.8%	$153.76	$85.98	+78.8%	COM	219350105
SFD	SMITHFIELD FOODS INC	146,861 (-6.8%)	$2.749M (-28.1%)	2.4%	$18.72	$24.01	-22.0%	COM	832248207
UL	UNILEVER PLC F	17,606 (-46.6%)	$1.069M (-46.1%)	0.9%	$60.73	$67.26	-9.7%	ADR	904767803
IBM	IBM CORP	13,260 (-1.5%)	$2.916M (-23.0%)	2.6%	$219.92	$298.78	-26.4%	COM	459200101
VLO	VALERO ENERGY CORP NEW	9,841 (-13.9%)	$3.814M (+28.1%)	3.4%	$387.61	$208.04	+86.3%	COM	91913Y100
ENB	ENBRIDGE INC F	81,958 (-3.6%)	$3.81M (-17.3%)	3.4%	$46.49	$48.83	-4.8%	FGC	29250N105
GSL	GLOBAL SHIP LEASE INC F	119,981 (-2.9%)	$5.296M (+14.0%)	4.7%	$44.14	$33.32	+32.5%	FGO	Y27183600
NEM	NEWMONT CORP	37,610 (-6.2%)	$4.338M (+15.8%)	3.9%	$115.34	$90.20	+27.9%	COM	651639106
RF	REGIONS FINL CORP NEW	143,467 (-1.8%)	$3.856M (-12.6%)	3.4%	$26.88	$25.37	+5.9%	COM	7591EP100
ABBNY	ABB LTD F	30,804 (-1.7%)	$2.917M (-14.3%)	2.6%	$94.71	$72.50	+30.6%	ADR	000375204
CVX	CHEVRON CORP NEW	11,534 (-3.8%)	$2.355M (+18.5%)	2.1%	$204.21	$151.40	+34.9%	COM	166764100
PPL	PPL CORP	71,845 (-4.2%)	$2.363M (-13.3%)	2.1%	$32.89	$35.87	-8.3%	COM	69351T106
TXN	TEXAS INSTRS INC	13,293 (-1.7%)	$3.723M (-7.7%)	3.3%	$280.09	$170.73	+64.1%	COM	882508104
PG	PROCTER & GAMBLE CO	3,426 (-36.9%)	$498K (-37.4%)	0.4%	$145.28	$151.38	-4.0%	COM	742718109
CFG	CITIZENS FINL GROUP INC	26,331 (-2.8%)	$1.679M (-11.5%)	1.5%	$63.76	$56.46	+12.9%	COM	174610105
VTRS	VIATRIS INC	390,490 (-9.3%)	$6.919M (+1.2%)	6.1%	$17.72	$13.17	+34.5%	COM	92556V106
B	BARRICK MNG CORP F	17,640 (-18.3%)	$717K (-9.5%)	0.6%	$40.67	$40.99	-0.8%	FGC	06849F108
MRK	MERCK & CO. INC.	5,056 (-2.0%)	$735K (+10.8%)	0.7%	$145.31	$115.48	+25.8%	COM	58933Y105
FCX	FREEPORT-MCMORAN INC	48,673 (-8.3%)	$3.407M (+2.0%)	3.0%	$70.00	$53.03	+32.0%	COM	35671D857
ABBV	ABBVIE INC	17,266 (-3.0%)	$4.517M (+0.8%)	4.0%	$261.59	$227.54	+15.0%	COM	00287Y109
ET	ENERGY TRANSFER L P LP	153,138 (-2.3%)	$3.028M (+1.0%)	2.7%	$19.77	$16.49	—	MLP	29273V100
GLD	SPDR GOLD SHARES	2,860 (-1.1%)	$1.089M (+2.2%)	1.0%	$380.84	$447.41	-14.9%	UIE	78463V107
USB	US BANCORP DEL	4,350 (-3.3%)	$251K (-7.6%)	0.2%	$57.76	$54.96	+5.1%	COM	902973304
SLV	ISHARES SILVER TRUST	36,718 (-1.7%)	$2.001M (+0.2%)	1.8%	$54.51	$50.06	+8.9%	UIE	46428Q109

Unchanged Positions (18)

DSWL DESWELL INDS INC F 1.7%

Value $1.968M Shares 634,910 Share Price $3.10 Est. Cost/Share $3.47 Unrealized @ Report Date -10.6%

AFL AFLAC INC 2.9%

Value $3.253M Shares 29,104 Share Price $111.78 Est. Cost/Share $110.23 Unrealized @ Report Date +1.4%

EPD ENTERPRISE PRODS PART LP 2.7%

Value $3.092M Shares 86,831 Share Price $35.61 Est. Cost/Share $34.07 Unrealized @ Report Date —

TSLA TESLA INC 0.4%

Value $475K Shares 1,340 Share Price $354.81 Est. Cost/Share $412.01 Unrealized @ Report Date -13.9%

UAMY UNITED STS ANTIMONY CORP 0.1%

Value $103K Shares 24,700 Share Price $4.17 Est. Cost/Share $7.85 Unrealized @ Report Date -46.9%

MO ALTRIA GROUP INC 0.9%

Value $1.022M Shares 15,181 Share Price $67.34 Est. Cost/Share $59.36 Unrealized @ Report Date +13.4%

GEV GE VERNOVA INC 0.3%

Value $284K Shares 299 Share Price $950.49 Est. Cost/Share $780.17 Unrealized @ Report Date +21.8%

HD HOME DEPOT INC 0.2%

Value $235K Shares 825 Share Price $284.49 Est. Cost/Share $364.47 Unrealized @ Report Date -21.9%

AMGN AMGEN INC 0.3%

Value $334K Shares 792 Share Price $421.51 Est. Cost/Share $355.41 Unrealized @ Report Date +18.6%

RDNT RADNET INC 0.4%

Value $414K Shares 6,000 Share Price $68.94 Est. Cost/Share $77.21 Unrealized @ Report Date -10.7%

WLTNF WILTON RES INC F 0.0%

Value $22,145 Shares 137,000 Share Price $0.16 Est. Cost/Share $0.29 Unrealized @ Report Date -40.8%

OUSM ALPS O'SHARES U.S. 0.4%

Value $497K Shares 10,830 Share Price $45.93 Est. Cost/Share $44.29 Unrealized @ Report Date +3.7%

PAAS PAN AMERN SILVER CORP F 1.4%

Value $1.622M Shares 35,635 Share Price $45.51 Est. Cost/Share $41.86 Unrealized @ Report Date +8.7%

BTG B2GOLD CORP F 0.0%

Value $52,200 Shares 10,000 Share Price $5.22 Est. Cost/Share $5.02 Unrealized @ Report Date +4.0%

COST COSTCO WHSL CORP NEW 0.3%

Value $376K Shares 413 Share Price $911.11 Est. Cost/Share $974.33 Unrealized @ Report Date -6.6%

GROY GOLD RTY CORP CDA F 0.1%

Value $125K Shares 41,500 Share Price $3.00 Est. Cost/Share $3.67 Unrealized @ Report Date -18.3%

URG UR-ENERGY INC F 0.0%

Value $21,600 Shares 20,000 Share Price $1.08 Est. Cost/Share $1.63 Unrealized @ Report Date -33.8%

BDWBF BUDWEISER BREWING ORDF 0.0%

Value $9,115 Shares 12,091 Share Price $0.75 Est. Cost/Share $1.05 Unrealized @ Report Date -30.1%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
DSWL	DESWELL INDS INC F	634,910	$1.968M	1.7%	$3.10	$3.47	-10.6%	FGO	250639101
AFL	AFLAC INC	29,104	$3.253M	2.9%	$111.78	$110.23	+1.4%	COM	001055102
EPD	ENTERPRISE PRODS PART LP	86,831	$3.092M	2.7%	$35.61	$34.07	—	MLP	293792107
TSLA	TESLA INC	1,340	$475K	0.4%	$354.81	$412.01	-13.9%	COM	88160R101
UAMY	UNITED STS ANTIMONY CORP	24,700	$103K	0.1%	$4.17	$7.85	-46.9%	COM	911549103
MO	ALTRIA GROUP INC	15,181	$1.022M	0.9%	$67.34	$59.36	+13.4%	COM	02209S103
GEV	GE VERNOVA INC	299	$284K	0.3%	$950.49	$780.17	+21.8%	COM	36828A101
HD	HOME DEPOT INC	825	$235K	0.2%	$284.49	$364.47	-21.9%	COM	437076102
AMGN	AMGEN INC	792	$334K	0.3%	$421.51	$355.41	+18.6%	COM	031162100
RDNT	RADNET INC	6,000	$414K	0.4%	$68.94	$77.21	-10.7%	COM	750491102
WLTNF	WILTON RES INC F	137,000	$22,145	0.0%	$0.16	$0.29	-40.8%	FGC	97263A105
OUSM	ALPS O'SHARES U.S.	10,830	$497K	0.4%	$45.93	$44.29	+3.7%	UIE	00162Q395
PAAS	PAN AMERN SILVER CORP F	35,635	$1.622M	1.4%	$45.51	$41.86	+8.7%	FGC	697900108
BTG	B2GOLD CORP F	10,000	$52,200	0.0%	$5.22	$5.02	+4.0%	FGC	11777Q209
COST	COSTCO WHSL CORP NEW	413	$376K	0.3%	$911.11	$974.33	-6.6%	COM	22160K105
GROY	GOLD RTY CORP CDA F	41,500	$125K	0.1%	$3.00	$3.67	-18.3%	FGC	38071H106
URG	UR-ENERGY INC F	20,000	$21,600	0.0%	$1.08	$1.63	-33.8%	FGC	91688R108
BDWBF	BUDWEISER BREWING ORDF	12,091	$9,115	0.0%	$0.75	$1.05	-30.1%	UFO	G1674K101