Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MSFT	MICROSOFT CORP	58,500 (+1.7%)	$30M (+39.9%)	7.1%	$512.91	$70.65	+626.0%	COM	594918104
AXON	AXON ENTERPRISE INC	20,000 (+100.0%)	$8.45M (+50.7%)	2.0%	$422.50	$529.87	-20.3%	COM	05464C101
PSN	PARSONS CORP DEL	21,387 (+87.8%)	$876K (+46.7%)	0.2%	$40.96	$69.34	-40.9%	COM	70202L102
JRVR	JAMES RIV GROUP HOLDINGS INC	270,920 (+65.1%)	$929K (+28.7%)	0.2%	$3.43	$4.23	—	COM	46990A102
AVAV	AEROVIRONMENT INC	80,000 (+14.3%)	$11.38M (-1.5%)	2.7%	$142.22	$134.14	+6.0%	COM	008073108
EVEX	EVE HLDG INC	100,000 (+213.0%)	$193K (+141.3%)	0.0%	$1.93	$2.90	-33.4%	COM	29970N104
LHX	L3HARRIS TECHNOLOGIES INC	29,000 (+20.8%)	$6.867M (-1.5%)	1.6%	$236.79	$204.76	+15.6%	COM	502431109
YSS	YORK SPACE SYSTEMS INC	120,000 (+200.0%)	$1.038M (+5.4%)	0.2%	$8.65	$19.01	-54.5%	COM	987084100

Exited Positions (4)

XOM EXXON MOBIL CORP 3.4%

Value $14.36M Shares 105,000 Share Price $136.72 * Est. Cost/Share $57.39 Unrealized @ Report Date +183.6%

IRDM IRIDIUM COMMUNICATIONS INC 0.5%

Value $2.194M Shares 40,000 Share Price $54.85 * Est. Cost/Share $25.36 Unrealized @ Report Date +88.9%

SQQQ PROSHARES TR 0.1%

Value $555K Shares 5,000 Share Price $111.00 * Est. Cost/Share $48.26 Unrealized @ Report Date -28.7%

E ENI SPA 0.1%

Value $469K Shares 10,000 Share Price $46.90 * Est. Cost/Share $34.50 Unrealized @ Report Date +57.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXON MOBIL CORP	105,000	$14.36M	3.4%	$136.72 *	$57.39	+183.6%	—	30231G102
IRDM	IRIDIUM COMMUNICATIONS INC	40,000	$2.194M	0.5%	$54.85 *	$25.36	+88.9%	—	46269C102
SQQQ	PROSHARES TR	5,000	$555K	0.1%	$111.00 *	$48.26	-28.7%	—	74350P675
E	ENI SPA	10,000	$469K	0.1%	$46.90 *	$34.50	+57.4%	—	26874R108

Decreased Positions (7)

DELL DELL TECHNOLOGIES INC 5.4%

Value $22.81M (-25.6%) Shares 42,400 (-40.4%) Share Price $537.95 Est. Cost/Share $114.09 Unrealized @ Report Date +371.5%

AIR AAR CORP 1.0%

Value $4.059M (-64.5%) Shares 40,000 (-50.0%) Share Price $101.47 Est. Cost/Share $60.68 Unrealized @ Report Date +67.2%

ABT ABBOTT LABORATORIES 1.2%

Value $4.942M (-39.5%) Shares 50,000 (-44.4%) Share Price $98.84 Est. Cost/Share $83.95 Unrealized @ Report Date +17.7%

VZ VERIZON COMMUNICATIONS INC 0.9%

Value $4.037M (-43.2%) Shares 88,000 (-47.6%) Share Price $45.88 Est. Cost/Share $41.33 Unrealized @ Report Date +11.0%

BP BP PLC 1.4%

Value $5.956M (-19.4%) Shares 135,400 (-32.3%) Share Price $43.99 Est. Cost/Share $31.61 Unrealized @ Report Date +39.2%

PSX PHILLIPS 66 1.9%

Value $8.298M (+15.5%) Shares 32,500 (-23.5%) Share Price $255.32 Est. Cost/Share $67.64 Unrealized @ Report Date +277.5%

COP CONOCOPHILLIPS 1.3%

Value $5.632M (-1.5%) Shares 45,000 (-18.2%) Share Price $125.16 Est. Cost/Share $58.80 Unrealized @ Report Date +112.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
DELL	DELL TECHNOLOGIES INC	42,400 (-40.4%)	$22.81M (-25.6%)	5.4%	$537.95	$114.09	+371.5%	COM	24703L202
AIR	AAR CORP	40,000 (-50.0%)	$4.059M (-64.5%)	1.0%	$101.47	$60.68	+67.2%	COM	000361105
ABT	ABBOTT LABORATORIES	50,000 (-44.4%)	$4.942M (-39.5%)	1.2%	$98.84	$83.95	+17.7%	COM	002824100
VZ	VERIZON COMMUNICATIONS INC	88,000 (-47.6%)	$4.037M (-43.2%)	0.9%	$45.88	$41.33	+11.0%	COM	92343V104
BP	BP PLC	135,400 (-32.3%)	$5.956M (-19.4%)	1.4%	$43.99	$31.61	+39.2%	COM	055622104
PSX	PHILLIPS 66	32,500 (-23.5%)	$8.298M (+15.5%)	1.9%	$255.32	$67.64	+277.5%	COM	718546104
COP	CONOCOPHILLIPS	45,000 (-18.2%)	$5.632M (-1.5%)	1.3%	$125.16	$58.80	+112.8%	COM	20825C104

Unchanged Positions (57)

CVX CHEVRON CORPORATION 5.2%

Value $22.31M Shares 109,240 Share Price $204.21 Est. Cost/Share $79.13 Unrealized @ Report Date +158.1%

FLNC FLUENCE ENERGY INC 0.6%

Value $2.534M Shares 330,000 Share Price $7.68 Est. Cost/Share $14.25 Unrealized @ Report Date -46.1%

IBM INTERNATIONAL BUSINESS MACHS 3.3%

Value $13.86M Shares 63,000 Share Price $219.94 Est. Cost/Share $118.94 Unrealized @ Report Date +84.9%

DUK DUKE ENERGY CORP NEW 4.0%

Value $17.12M Shares 150,166 Share Price $114.01 Est. Cost/Share $45.77 Unrealized @ Report Date +149.1%

PFE PFIZER INC 2.4%

Value $10.27M Shares 360,000 Share Price $28.52 Est. Cost/Share $25.83 Unrealized @ Report Date +10.4%

ARKG ARK ETF TR 1.5%

Value $6.517M Shares 120,000 Share Price $54.31 Est. Cost/Share $30.02 Unrealized @ Report Date +80.6%

VLO VALERO ENERGY CORP 0.9%

Value $3.876M Shares 10,000 Share Price $387.60 Est. Cost/Share $110.82 Unrealized @ Report Date +249.8%

NTLA INTELLIA THERAPEUTICS INC 0.7%

Value $2.773M Shares 229,900 Share Price $12.06 Est. Cost/Share $13.17 Unrealized @ Report Date -8.5%

FCX FREEPORT MCMORAN INC 2.5%

Value $10.5M Shares 150,000 Share Price $70.00 Est. Cost/Share $43.44 Unrealized @ Report Date +61.1%

TEM TEMPUS AI INC 0.8%

Value $3.276M Shares 40,000 Share Price $81.90 Est. Cost/Share $67.50 Unrealized @ Report Date +21.3%

ABBV ABBVIE INC 5.7%

Value $24.2M Shares 92,500 Share Price $261.59 Est. Cost/Share $72.73 Unrealized @ Report Date +259.7%

TMO THERMO FISHER SCIENTIFIC INC 0.8%

Value $3.375M Shares 5,000 Share Price $675.00 Est. Cost/Share $79.76 Unrealized @ Report Date +746.3%

KTOS KRATOS DEFENSE & SEC SOLUTIO 1.2%

Value $5.123M Shares 120,000 Share Price $42.69 Est. Cost/Share $21.65 Unrealized @ Report Date +97.2%

D DOMINION ENERGY INC 1.6%

Value $6.657M Shares 110,000 Share Price $60.52 Est. Cost/Share $46.53 Unrealized @ Report Date +30.1%

BMY BRISTOL-MYERS SQUIBB CO 2.5%

Value $10.61M Shares 170,000 Share Price $62.40 Est. Cost/Share $40.71 Unrealized @ Report Date +53.3%

JNJ JOHNSON & JOHNSON 4.7%

Value $19.86M Shares 75,000 Share Price $264.75 Est. Cost/Share $78.49 Unrealized @ Report Date +237.3%

NOC NORTHROP GRUMMAN CORP 3.4%

Value $14.55M Shares 30,093 Share Price $483.47 Est. Cost/Share $217.94 Unrealized @ Report Date +121.8%

ENB ENBRIDGE INC 0.8%

Value $3.567M Shares 76,720 Share Price $46.49 Est. Cost/Share $24.73 Unrealized @ Report Date +88.0%

RDW REDWIRE CORPORATION 0.8%

Value $3.445M Shares 330,000 Share Price $10.44 Est. Cost/Share $12.64 Unrealized @ Report Date -17.4%

WMT WALMART INC 1.3%

Value $5.716M Shares 55,000 Share Price $103.93 Est. Cost/Share $52.08 Unrealized @ Report Date +99.5%

ENS ENERSYS 0.4%

Value $1.835M Shares 10,000 Share Price $183.50 Est. Cost/Share $74.04 Unrealized @ Report Date +147.9%

SMR NUSCALE PWR CORP 0.4%

Value $1.84M Shares 232,890 Share Price $7.90 Est. Cost/Share $16.40 Unrealized @ Report Date -51.8%

FLR FLUOR CORP 1.2%

Value $5.267M Shares 110,000 Share Price $47.88 Est. Cost/Share $27.47 Unrealized @ Report Date +74.3%

MKL MARKEL GROUP INC 0.8%

Value $3.425M Shares 2,000 Share Price $1712.50 Est. Cost/Share $1296.17 Unrealized @ Report Date +32.1%

GD GENERAL DYNAMICS CORP 1.6%

Value $6.637M Shares 20,000 Share Price $331.85 Est. Cost/Share $106.39 Unrealized @ Report Date +211.9%

T AT&T INC 0.7%

Value $2.928M Shares 120,000 Share Price $24.40 Est. Cost/Share $18.36 Unrealized @ Report Date +32.9%

RTX RTX CORPORATION 4.1%

Value $17.39M Shares 93,662 Share Price $185.65 Est. Cost/Share $54.61 Unrealized @ Report Date +240.0%

KMI KINDER MORGAN INC DEL 1.4%

Value $6.03M Shares 200,000 Share Price $30.15 Est. Cost/Share $17.05 Unrealized @ Report Date +76.9%

ASPI ASP ISOTOPES INC 0.1%

Value $265K Shares 100,000 Share Price $2.65 Est. Cost/Share $8.33 Unrealized @ Report Date -68.2%

WMB WILLIAMS COS INC 0.8%

Value $3.399M Shares 50,000 Share Price $67.98 Est. Cost/Share $21.39 Unrealized @ Report Date +217.8%

LIT GLOBAL X FDS 0.5%

Value $2.053M Shares 30,000 Share Price $68.43 Est. Cost/Share $54.53 Unrealized @ Report Date +25.5%

SO SOUTHERN CO 0.4%

Value $1.658M Shares 20,000 Share Price $82.90 Est. Cost/Share $51.80 Unrealized @ Report Date +60.0%

NEE NEXTERA ENERGY INC 0.4%

Value $1.515M Shares 20,000 Share Price $75.75 Est. Cost/Share $89.69 Unrealized @ Report Date -15.6%

CPB THE CAMPBELLS COMPANY 0.4%

Value $1.884M Shares 95,000 Share Price $19.83 Est. Cost/Share $26.84 Unrealized @ Report Date -26.1%

CVS CVS HEALTH CORP 0.2%

Value $857K Shares 10,000 Share Price $85.70 Est. Cost/Share $63.08 Unrealized @ Report Date +35.8%

EPD ENTERPRISE PRODS PARTNERS L 1.3%

Value $5.342M Shares 150,000 Share Price $35.61 Est. Cost/Share $25.00 Unrealized @ Report Date —

AMZN AMAZON COM INC 0.9%

Value $3.737M Shares 15,000 Share Price $249.13 Est. Cost/Share $197.89 Unrealized @ Report Date +25.9%

OKLO OKLO INC 0.1%

Value $370K Shares 10,000 Share Price $37.00 Est. Cost/Share $62.41 Unrealized @ Report Date -40.7%

NNE NANO NUCLEAR ENERGY INC 0.1%

Value $396K Shares 25,000 Share Price $15.84 Est. Cost/Share $22.70 Unrealized @ Report Date -30.2%

— BLACKROCK RES & COMMODITIES 0.6%

Value $2.424M Shares 204,174 Share Price $11.87 Est. Cost/Share $8.18 Unrealized @ Report Date —

BIIB BIOGEN INC 0.5%

Value $2.259M Shares 10,000 Share Price $225.90 Est. Cost/Share $184.30 Unrealized @ Report Date +22.6%

J JACOBS SOLUTIONS INC 0.3%

Value $1.353M Shares 10,000 Share Price $135.30 Est. Cost/Share $135.87 Unrealized @ Report Date -0.4%

KHC KRAFT HEINZ CO 0.5%

Value $2.272M Shares 100,000 Share Price $22.72 Est. Cost/Share $28.87 Unrealized @ Report Date -21.3%

TRP TC ENERGY CORP 0.1%

Value $578K Shares 10,000 Share Price $57.80 Est. Cost/Share $37.32 Unrealized @ Report Date +54.8%

ARKX ARK ETF TR 0.3%

Value $1.281M Shares 40,000 Share Price $32.02 Est. Cost/Share $17.28 Unrealized @ Report Date +84.6%

EXEL EXELIXIS INC 0.3%

Value $1.168M Shares 20,000 Share Price $58.40 Est. Cost/Share $42.99 Unrealized @ Report Date +35.9%

ARGT GLOBAL X FDS 0.3%

Value $1.086M Shares 12,600 Share Price $86.19 Est. Cost/Share $92.76 Unrealized @ Report Date -7.1%

FLY FIREFLY AEROSPACE INC 0.1%

Value $232K Shares 10,000 Share Price $23.20 Est. Cost/Share $44.96 Unrealized @ Report Date -48.5%

CP CANADIAN PACIFIC KANSAS CITY 0.8%

Value $3.43M Shares 40,300 Share Price $85.11 Est. Cost/Share $77.51 Unrealized @ Report Date +9.8%

BHP BHP BILLITON LIMITED 0.8%

Value $3.394M Shares 40,000 Share Price $84.85 Est. Cost/Share $30.71 Unrealized @ Report Date +176.3%

RIO RIO TINTO PLC 1.8%

Value $7.534M Shares 80,000 Share Price $94.17 Est. Cost/Share $60.98 Unrealized @ Report Date +54.4%

RPRX ROYALTY PHARMA PLC 0.3%

Value $1.167M Shares 20,000 Share Price $58.35 Est. Cost/Share $43.79 Unrealized @ Report Date +33.3%

EWW ISHARES INC 0.2%

Value $711K Shares 10,000 Share Price $71.10 Est. Cost/Share $76.90 Unrealized @ Report Date -7.6%

EWZ ISHARES INC 0.1%

Value $373K Shares 10,000 Share Price $37.30 Est. Cost/Share $36.56 Unrealized @ Report Date +1.9%

CRSP CRISPR THERAPEUTICS AG 0.5%

Value $1.942M Shares 35,100 Share Price $55.33 Est. Cost/Share $52.62 Unrealized @ Report Date +5.1%

LMT LOCKHEED MARTIN CORP 4.4%

Value $18.64M Shares 36,600 Share Price $509.26 Est. Cost/Share $187.84 Unrealized @ Report Date +171.1%

ILF ISHARES TR 0.1%

Value $276K Shares 8,000 Share Price $34.50 Est. Cost/Share $34.62 Unrealized @ Report Date -0.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CVX	CHEVRON CORPORATION	109,240	$22.31M	5.2%	$204.21	$79.13	+158.1%	COM	166764100
FLNC	FLUENCE ENERGY INC	330,000	$2.534M	0.6%	$7.68	$14.25	-46.1%	COM	34379V103
IBM	INTERNATIONAL BUSINESS MACHS	63,000	$13.86M	3.3%	$219.94	$118.94	+84.9%	COM	459200101
DUK	DUKE ENERGY CORP NEW	150,166	$17.12M	4.0%	$114.01	$45.77	+149.1%	COM	26441C204
PFE	PFIZER INC	360,000	$10.27M	2.4%	$28.52	$25.83	+10.4%	COM	717081103
ARKG	ARK ETF TR	120,000	$6.517M	1.5%	$54.31	$30.02	+80.6%	ETF	00214Q302
VLO	VALERO ENERGY CORP	10,000	$3.876M	0.9%	$387.60	$110.82	+249.8%	COM	91913Y100
NTLA	INTELLIA THERAPEUTICS INC	229,900	$2.773M	0.7%	$12.06	$13.17	-8.5%	COM	45826J105
FCX	FREEPORT MCMORAN INC	150,000	$10.5M	2.5%	$70.00	$43.44	+61.1%	COM	35671D857
TEM	TEMPUS AI INC	40,000	$3.276M	0.8%	$81.90	$67.50	+21.3%	COM	88023B103
ABBV	ABBVIE INC	92,500	$24.2M	5.7%	$261.59	$72.73	+259.7%	COM	00287Y109
TMO	THERMO FISHER SCIENTIFIC INC	5,000	$3.375M	0.8%	$675.00	$79.76	+746.3%	COM	883556102
KTOS	KRATOS DEFENSE & SEC SOLUTIO	120,000	$5.123M	1.2%	$42.69	$21.65	+97.2%	COM	50077B207
D	DOMINION ENERGY INC	110,000	$6.657M	1.6%	$60.52	$46.53	+30.1%	COM	25746U109
BMY	BRISTOL-MYERS SQUIBB CO	170,000	$10.61M	2.5%	$62.40	$40.71	+53.3%	COM	110122108
JNJ	JOHNSON & JOHNSON	75,000	$19.86M	4.7%	$264.75	$78.49	+237.3%	COM	478160104
NOC	NORTHROP GRUMMAN CORP	30,093	$14.55M	3.4%	$483.47	$217.94	+121.8%	COM	666807102
ENB	ENBRIDGE INC	76,720	$3.567M	0.8%	$46.49	$24.73	+88.0%	COM	29250N105
RDW	REDWIRE CORPORATION	330,000	$3.445M	0.8%	$10.44	$12.64	-17.4%	COM	75776W103
WMT	WALMART INC	55,000	$5.716M	1.3%	$103.93	$52.08	+99.5%	COM	931142103
ENS	ENERSYS	10,000	$1.835M	0.4%	$183.50	$74.04	+147.9%	COM	29275Y102
SMR	NUSCALE PWR CORP	232,890	$1.84M	0.4%	$7.90	$16.40	-51.8%	COM	67079K100
FLR	FLUOR CORP	110,000	$5.267M	1.2%	$47.88	$27.47	+74.3%	COM	343412102
MKL	MARKEL GROUP INC	2,000	$3.425M	0.8%	$1712.50	$1296.17	+32.1%	COM	570535104
GD	GENERAL DYNAMICS CORP	20,000	$6.637M	1.6%	$331.85	$106.39	+211.9%	COM	369550108
T	AT&T INC	120,000	$2.928M	0.7%	$24.40	$18.36	+32.9%	COM	00206R102
RTX	RTX CORPORATION	93,662	$17.39M	4.1%	$185.65	$54.61	+240.0%	COM	75513E101
KMI	KINDER MORGAN INC DEL	200,000	$6.03M	1.4%	$30.15	$17.05	+76.9%	COM	49456B101
ASPI	ASP ISOTOPES INC	100,000	$265K	0.1%	$2.65	$8.33	-68.2%	COM	00218A105
WMB	WILLIAMS COS INC	50,000	$3.399M	0.8%	$67.98	$21.39	+217.8%	COM	969457100
LIT	GLOBAL X FDS	30,000	$2.053M	0.5%	$68.43	$54.53	+25.5%	ETF	37954Y855
SO	SOUTHERN CO	20,000	$1.658M	0.4%	$82.90	$51.80	+60.0%	COM	842587107
NEE	NEXTERA ENERGY INC	20,000	$1.515M	0.4%	$75.75	$89.69	-15.6%	COM	65339F101
CPB	THE CAMPBELLS COMPANY	95,000	$1.884M	0.4%	$19.83	$26.84	-26.1%	COM	134429109
CVS	CVS HEALTH CORP	10,000	$857K	0.2%	$85.70	$63.08	+35.8%	COM	126650100
EPD	ENTERPRISE PRODS PARTNERS L	150,000	$5.342M	1.3%	$35.61	$25.00	—	COM	293792107
AMZN	AMAZON COM INC	15,000	$3.737M	0.9%	$249.13	$197.89	+25.9%	COM	023135106
OKLO	OKLO INC	10,000	$370K	0.1%	$37.00	$62.41	-40.7%	COM	02156V109
NNE	NANO NUCLEAR ENERGY INC	25,000	$396K	0.1%	$15.84	$22.70	-30.2%	COM	63010H108
—	BLACKROCK RES & COMMODITIES	204,174	$2.424M	0.6%	$11.87	$8.18	—	ETF	09257A108
BIIB	BIOGEN INC	10,000	$2.259M	0.5%	$225.90	$184.30	+22.6%	COM	09062X103
J	JACOBS SOLUTIONS INC	10,000	$1.353M	0.3%	$135.30	$135.87	-0.4%	COM	46982L108
KHC	KRAFT HEINZ CO	100,000	$2.272M	0.5%	$22.72	$28.87	-21.3%	COM	500754106
TRP	TC ENERGY CORP	10,000	$578K	0.1%	$57.80	$37.32	+54.8%	COM	87807B107
ARKX	ARK ETF TR	40,000	$1.281M	0.3%	$32.02	$17.28	+84.6%	ETF	00214Q807
EXEL	EXELIXIS INC	20,000	$1.168M	0.3%	$58.40	$42.99	+35.9%	COM	30161Q104
ARGT	GLOBAL X FDS	12,600	$1.086M	0.3%	$86.19	$92.76	-7.1%	ETF	37950E259
FLY	FIREFLY AEROSPACE INC	10,000	$232K	0.1%	$23.20	$44.96	-48.5%	COM	31816X106
CP	CANADIAN PACIFIC KANSAS CITY	40,300	$3.43M	0.8%	$85.11	$77.51	+9.8%	COM	13646K108
BHP	BHP BILLITON LIMITED	40,000	$3.394M	0.8%	$84.85	$30.71	+176.3%	COM	088606108
RIO	RIO TINTO PLC	80,000	$7.534M	1.8%	$94.17	$60.98	+54.4%	COM	767204100
RPRX	ROYALTY PHARMA PLC	20,000	$1.167M	0.3%	$58.35	$43.79	+33.3%	COM	G7709Q104
EWW	ISHARES INC	10,000	$711K	0.2%	$71.10	$76.90	-7.6%	ETF	464286822
EWZ	ISHARES INC	10,000	$373K	0.1%	$37.30	$36.56	+1.9%	ETF	464286400
CRSP	CRISPR THERAPEUTICS AG	35,100	$1.942M	0.5%	$55.33	$52.62	+5.1%	COM	H17182108
LMT	LOCKHEED MARTIN CORP	36,600	$18.64M	4.4%	$509.26	$187.84	+171.1%	COM	539830109
ILF	ISHARES TR	8,000	$276K	0.1%	$34.50	$34.62	-0.4%	ETF	464287390