Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EMB	ISHARES TR	263,561	$24.76M	5.0%	$93.93	—	JPMORGAN USD EMG	464288281
—	NORTHERN OIL & GAS INC	18,715,000	$20.84M	4.2%	$1.11	—	NOTE 3.625% 4/1	665531AJ8
GLW	CORNING INC	42,265	$5.747M	1.2%	$111.68	0.0%	COM	219350105
AWK	AMERICAN WTR WKS CO INC NEW	36,597	$4.98M	1.0%	$128.85	0.0%	COM	030420103
UUUU	ENERGY FUELS INC	131,382	$2.398M	0.5%	$21.60	0.0%	COM NEW	292671708
SBSW	SIBANYE STILLWATER LTD	125,000	$1.54M	0.3%	$12.32	—	SPONSORED ADR	82575P107
NOG	NORTHERN OIL & GAS INC	49,979	$1.461M	0.3%	$24.29	0.0%	COM	665531307
UAMY	UNITED STATES ANTIMONY CORP	163,602	$1.428M	0.3%	$8.25	0.0%	COM	911549103
GD	GENERAL DYNAMICS CORP	3,903	$1.34M	0.3%	$354.49	0.0%	COM	369550108
WDAF	WISDOMTREE TR	42,200	$1.339M	0.3%	$31.72	—	ASIA DEFENSE FD	97717Y311
IEZ	ISHARES TR	44,727	$1.295M	0.3%	$28.95	—	US OIL EQ&SV ETF	464288844
LIN	LINDE PLC	2,075	$1.029M	0.2%	$460.00	0.0%	SHS	G54950103
ALOY	REALLOYS INC	104,000	$1.015M	0.2%	$9.76	—	COM	75606V101
PALL	ABRDN PALLADIUM ETF TRUST	7,500	$1.01M	0.2%	$134.71	—	PHYSICAL PALLADM	003262102
PPLT	ABRDN PLATINUM ETF TRUST	5,285	$942K	0.2%	$178.23	—	PHYSCL PLATM SHS	003260106
MOS	MOSAIC CO	33,190	$846K	0.2%	$27.87	0.0%	COM	61945C103
EL	LAUDER ESTEE COS INC	8,635	$620K	0.1%	$111.88	0.0%	CL A	518439104
LYB	LYONDELLBASELL INDUSTRIES NV	7,500	$604K	0.1%	$52.41	0.0%	SHS - A -	N53745100
RSP	INVESCO EXCHANGE TRADED FD T	3,115	$598K	0.1%	$191.92	—	S&P500 EQL WGT	46137V357
USAR	USA RARE EARTH INC	36,475	$552K	0.1%	$20.16	0.0%	COM	91733P107
IWD	ISHARES TR	1,812	$387K	0.1%	$213.68	—	RUS 1000 VAL ETF	464287598
XAR	SPDR SERIES TRUST	1,386	$352K	0.1%	$253.90	—	STATE STREET SPD	78464A631
LULU	LULULEMON ATHLETICA INC	2,084	$319K	0.1%	$188.79	0.0%	COM	550021109
RKLB	ROCKET LAB CORP	4,400	$283K	0.1%	$79.27	0.0%	COM	773121108
CRML	CRITICAL METALS CORP	35,000	$278K	0.1%	$13.15	0.0%	PUBCO ORD SHS	G2662B103
BA	BOEING CO	1,200	$239K	0.0%	$238.54	0.0%	COM	097023105
SHEL	SHELL PLC	2,551	$237K	0.0%	$93.00	—	SPON ADS	780259305
NMG	NOUVEAU MONDE GRAPHITE INC	100,000	$224K	0.0%	$2.59	0.0%	COM NEW	66979W842

Increased Positions (34)

— BOEING CO 5.3%

Value $26.17M (+154.2%) Shares 403,324 (+170.6%) Est. Cost $66.42 Unrealized —

GEV GE VERNOVA INC 2.4%

Value $11.98M (+451.2%) Shares 13,724 (+312.8%) Est. Cost $697.56 Unrealized +5.6%

PSLV SPROTT ASSET MANAGEMENT LP 2.4%

Value $12.06M (+334.0%) Shares 494,493 (+320.9%) Est. Cost $21.41 Unrealized —

CDE COEUR MNG INC 1.0%

Value $5.159M (+362.6%) Shares 274,846 (+339.4%) Est. Cost $21.20 Unrealized +5.3%

ORLA ORLA MNG LTD NEW 1.1%

Value $5.537M (+180.3%) Shares 343,291 (+134.1%) Est. Cost $14.65 Unrealized +12.8%

NTR NUTRIEN LTD 2.2%

Value $10.88M (+39.0%) Shares 144,201 (+13.7%) Est. Cost $59.30 Unrealized +14.8%

HESM HESS MIDSTREAM LP 1.1%

Value $5.647M (+103.8%) Shares 145,267 (+80.9%) Est. Cost $35.30 Unrealized -0.3%

AMLP ALPS ETF TR 1.2%

Value $5.671M (+70.6%) Shares 107,732 (+52.4%) Est. Cost $50.45 Unrealized —

DOW DOW HLDGS INC 0.4%

Value $2.203M (+597.9%) Shares 52,887 (+291.8%) Est. Cost $27.45 Unrealized +5.8%

IAU ISHARES GOLD TR 1.4%

Value $7.111M (+32.5%) Shares 80,663 (+22.0%) Est. Cost $45.80 Unrealized —

IWO ISHARES TR 0.4%

Value $2.069M (+438.1%) Shares 6,594 (+454.1%) Est. Cost $308.90 Unrealized —

PHYS SPROTT ASSET MANAGEMENT LP 0.4%

Value $2.042M (+295.9%) Shares 57,621 (+268.9%) Est. Cost $30.93 Unrealized —

XLE SELECT SECTOR SPDR TR 1.0%

Value $4.778M (+38.4%) Shares 78,000 (+1.0%) Est. Cost $61.11 Unrealized —

TRX TRX GOLD CORPORATION 0.2%

Value $1.174M (+3765.7%) Shares 782,991 (+2273.3%) Est. Cost $1.37 Unrealized +3.3%

BWXT BWX TECHNOLOGIES INC 0.7%

Value $3.232M (+20.7%) Shares 15,804 (+2.0%) Est. Cost $113.14 Unrealized +79.4%

AMGN AMGEN INC 0.8%

Value $3.879M (+13.4%) Shares 11,023 (+5.5%) Est. Cost $239.61 Unrealized +45.9%

HL HECLA MINING COMPANY 0.1%

Value $652K (+126.5%) Shares 35,000 (+133.3%) Est. Cost $20.31 Unrealized +18.6%

NKE NIKE INC 1.1%

Value $5.645M (-6.0%) Shares 106,865 (+13.3%) Est. Cost $64.80 Unrealized -1.3%

MSFT MICROSOFT CORP 0.9%

Value $4.499M (-7.2%) Shares 12,154 (+21.2%) Est. Cost $250.49 Unrealized +73.5%

WHR WHIRLPOOL CORP 0.7%

Value $3.237M (+11.2%) Shares 60,035 (+48.7%) Est. Cost $93.13 Unrealized -10.5%

HON HONEYWELL INTL INC 0.2%

Value $1.086M (+21.4%) Shares 4,805 (+4.8%) Est. Cost $196.45 Unrealized +15.0%

VSAT VIASAT INC 0.1%

Value $610K (+35.0%) Shares 13,320 (+1.6%) Est. Cost $26.03 Unrealized +67.9%

UNH UNITEDHEALTH GROUP INC 0.1%

Value $730K (-16.0%) Shares 2,696 (+2.5%) Est. Cost $299.17 Unrealized +3.2%

AVGO BROADCOM INC 0.2%

Value $870K (-8.8%) Shares 2,811 (+2.0%) Est. Cost $168.77 Unrealized +98.0%

MDT MEDTRONIC PLC 0.2%

Value $756K (-8.9%) Shares 8,725 (+1.0%) Est. Cost $78.65 Unrealized +26.5%

AVAV AEROVIRONMENT INC 0.1%

Value $604K (-10.8%) Shares 3,300 (+17.9%) Est. Cost $218.35 Unrealized +35.8%

CPNG COUPANG INC 0.1%

Value $267K (-18.8%) Shares 14,125 (+1.4%) Est. Cost $28.33 Unrealized -29.9%

JEPQ J P MORGAN EXCHANGE TRADED F 0.1%

Value $403K (+15.6%) Shares 7,255 (+21.0%) Est. Cost $57.67 Unrealized —

NVDA NVIDIA CORPORATION 0.2%

Value $1.173M (-3.8%) Shares 6,725 (+2.9%) Est. Cost $131.74 Unrealized +41.7%

COPX GLOBAL X FDS 0.1%

Value $506K (+7.4%) Shares 6,628 (+1.0%) Est. Cost $45.42 Unrealized —

LQD ISHARES TR 0.3%

Value $1.494M (+2.1%) Shares 13,710 (+3.3%) Est. Cost $111.79 Unrealized —

EUAD SPINNAKER ETF SERIES 0.2%

Value $992K (-1.3%) Shares 24,361 (+2.1%) Est. Cost $38.03 Unrealized —

QCOM QUALCOMM INC 0.7%

Value $3.356M (-0.1%) Shares 26,057 (+32.7%) Est. Cost $158.22 Unrealized -2.7%

IWP ISHARES TR 0.1%

Value $607K (+0.4%) Shares 4,738 (+7.3%) Est. Cost $121.21 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	BOEING CO	403,324 (+170.6%)	$26.17M (+154.2%)	5.3%	$66.42	—	DEP CONV PFD A	097023204
GEV	GE VERNOVA INC	13,724 (+312.8%)	$11.98M (+451.2%)	2.4%	$697.56	+5.6%	COM	36828A101
PSLV	SPROTT ASSET MANAGEMENT LP	494,493 (+320.9%)	$12.06M (+334.0%)	2.4%	$21.41	—	PHYSICAL SILVER	85207K107
CDE	COEUR MNG INC	274,846 (+339.4%)	$5.159M (+362.6%)	1.0%	$21.20	+5.3%	COM NEW	192108504
ORLA	ORLA MNG LTD NEW	343,291 (+134.1%)	$5.537M (+180.3%)	1.1%	$14.65	+12.8%	COM	68634K106
NTR	NUTRIEN LTD	144,201 (+13.7%)	$10.88M (+39.0%)	2.2%	$59.30	+14.8%	COM	67077M108
HESM	HESS MIDSTREAM LP	145,267 (+80.9%)	$5.647M (+103.8%)	1.1%	$35.30	-0.3%	CL A SHS	428103105
AMLP	ALPS ETF TR	107,732 (+52.4%)	$5.671M (+70.6%)	1.2%	$50.45	—	ALERIAN MLP	00162Q452
DOW	DOW HLDGS INC	52,887 (+291.8%)	$2.203M (+597.9%)	0.4%	$27.45	+5.8%	COM	260557103
IAU	ISHARES GOLD TR	80,663 (+22.0%)	$7.111M (+32.5%)	1.4%	$45.80	—	ISHARES NEW	464285204
IWO	ISHARES TR	6,594 (+454.1%)	$2.069M (+438.1%)	0.4%	$308.90	—	RUS 2000 GRW ETF	464287648
PHYS	SPROTT ASSET MANAGEMENT LP	57,621 (+268.9%)	$2.042M (+295.9%)	0.4%	$30.93	—	PHYSICAL GOLD TR	85207H104
XLE	SELECT SECTOR SPDR TR	78,000 (+1.0%)	$4.778M (+38.4%)	1.0%	$61.11	—	STATE STREET ENE	81369Y506
TRX	TRX GOLD CORPORATION	782,991 (+2273.3%)	$1.174M (+3765.7%)	0.2%	$1.37	+3.3%	COM	87283P109
BWXT	BWX TECHNOLOGIES INC	15,804 (+2.0%)	$3.232M (+20.7%)	0.7%	$113.14	+79.4%	COM	05605H100
AMGN	AMGEN INC	11,023 (+5.5%)	$3.879M (+13.4%)	0.8%	$239.61	+45.9%	COM	031162100
HL	HECLA MINING COMPANY	35,000 (+133.3%)	$652K (+126.5%)	0.1%	$20.31	+18.6%	COM	422704106
NKE	NIKE INC	106,865 (+13.3%)	$5.645M (-6.0%)	1.1%	$64.80	-1.3%	CL B	654106103
MSFT	MICROSOFT CORP	12,154 (+21.2%)	$4.499M (-7.2%)	0.9%	$250.49	+73.5%	COM	594918104
WHR	WHIRLPOOL CORP	60,035 (+48.7%)	$3.237M (+11.2%)	0.7%	$93.13	-10.5%	COM	963320106
HON	HONEYWELL INTL INC	4,805 (+4.8%)	$1.086M (+21.4%)	0.2%	$196.45	+15.0%	COM	438516106
VSAT	VIASAT INC	13,320 (+1.6%)	$610K (+35.0%)	0.1%	$26.03	+67.9%	COM	92552V100
UNH	UNITEDHEALTH GROUP INC	2,696 (+2.5%)	$730K (-16.0%)	0.1%	$299.17	+3.2%	COM	91324P102
AVGO	BROADCOM INC	2,811 (+2.0%)	$870K (-8.8%)	0.2%	$168.77	+98.0%	COM	11135F101
MDT	MEDTRONIC PLC	8,725 (+1.0%)	$756K (-8.9%)	0.2%	$78.65	+26.5%	SHS	G5960L103
AVAV	AEROVIRONMENT INC	3,300 (+17.9%)	$604K (-10.8%)	0.1%	$218.35	+35.8%	COM	008073108
CPNG	COUPANG INC	14,125 (+1.4%)	$267K (-18.8%)	0.1%	$28.33	-29.9%	CL A	22266T109
JEPQ	J P MORGAN EXCHANGE TRADED F	7,255 (+21.0%)	$403K (+15.6%)	0.1%	$57.67	—	NASDAQ EQT PREM	46654Q203
NVDA	NVIDIA CORPORATION	6,725 (+2.9%)	$1.173M (-3.8%)	0.2%	$131.74	+41.7%	COM	67066G104
COPX	GLOBAL X FDS	6,628 (+1.0%)	$506K (+7.4%)	0.1%	$45.42	—	GLOBAL X COPPER	37954Y830
LQD	ISHARES TR	13,710 (+3.3%)	$1.494M (+2.1%)	0.3%	$111.79	—	IBOXX INV CP ETF	464287242
EUAD	SPINNAKER ETF SERIES	24,361 (+2.1%)	$992K (-1.3%)	0.2%	$38.03	—	SELECT STOXX EUR	84858T772
QCOM	QUALCOMM INC	26,057 (+32.7%)	$3.356M (-0.1%)	0.7%	$158.22	-2.7%	COM	747525103
IWP	ISHARES TR	4,738 (+7.3%)	$607K (+0.4%)	0.1%	$121.21	—	RUS MD CP GR ETF	464287481

Exited Positions (37)

— ALBEMARLE CORP 2.8%

Value $13.98M Shares 235,362 Est. Cost $34.74 Unrealized —

SHYG ISHARES TR 2.4%

Value $11.73M Shares 273,563 Est. Cost $43.21 Unrealized —

SLB SLB LIMITED 1.6%

Value $7.676M Shares 200,000 Est. Cost $36.06 Unrealized +33.9%

VALE VALE S A 1.1%

Value $5.174M Shares 397,116 Est. Cost $12.32 Unrealized —

SIL GLOBAL X FDS 1.0%

Value $4.688M Shares 56,134 Est. Cost $83.52 Unrealized —

BBY BEST BUY INC 0.9%

Value $4.353M Shares 65,042 Est. Cost $74.73 Unrealized -10.4%

CDE COEUR MNG INC 0.7%

Value $3.209M Shares 180,000 Est. Cost $21.20 Unrealized +5.3%

RTX RTX CORPORATION 0.6%

Value $3.137M Shares 17,107 Est. Cost $136.67 Unrealized +43.9%

TGT TARGET CORP 0.6%

Value $3.085M Shares 31,559 Est. Cost $93.31 Unrealized +17.0%

BABA ALIBABA GROUP HLDG LTD 0.5%

Value $2.532M Shares 17,276 Est. Cost $125.48 Unrealized —

SLB SLB LIMITED 0.4%

Value $2.024M Shares 52,725 Est. Cost $36.06 Unrealized +33.9%

SQM SOCIEDAD QUIMICA Y MINERA DE 0.3%

Value $1.376M Shares 20,000 Est. Cost $68.80 Unrealized —

QQQ INVESCO QQQ TR 0.2%

Value $1.008M Shares 1,641 Est. Cost $371.47 Unrealized —

ORCL ORACLE CORP 0.2%

Value $786K Shares 4,032 Est. Cost $238.05 Unrealized -28.8%

NUKZ EXCHANGE TRADED CONCEPTS TRU 0.2%

Value $765K Shares 12,045 Est. Cost $65.04 Unrealized —

UPS UNITED PARCEL SERVICE INC 0.1%

Value $595K Shares 6,000 Est. Cost $92.75 Unrealized +18.5%

BKR BAKER HUGHES COMPANY 0.1%

Value $579K Shares 12,725 Est. Cost $44.02 Unrealized +27.4%

DELL DELL TECHNOLOGIES INC 0.1%

Value $504K Shares 4,000 Est. Cost $101.32 Unrealized +17.5%

VST VISTRA CORP 0.1%

Value $482K Shares 2,990 Est. Cost $148.63 Unrealized +9.8%

HL HECLA MNG CO 0.1%

Value $480K Shares 25,000 Est. Cost $20.31 Unrealized +18.6%

USFR WISDOMTREE TR 0.1%

Value $472K Shares 9,385 Est. Cost $50.28 Unrealized —

KWEB KRANESHARES TRUST 0.1%

Value $463K Shares 13,588 Est. Cost $40.40 Unrealized —

SLX VANECK ETF TRUST 0.1%

Value $424K Shares 5,000 Est. Cost $84.86 Unrealized —

URA GLOBAL X FDS 0.1%

Value $420K Shares 9,838 Est. Cost $39.25 Unrealized —

GSY INVESCO ACTIVELY MANAGED EXC 0.1%

Value $413K Shares 8,214 Est. Cost $50.25 Unrealized —

BHP BHP GROUP LTD 0.1%

Value $362K Shares 6,000 Est. Cost $56.40 Unrealized —

NBR NABORS INDUSTRIES LTD 0.1%

Value $272K Shares 5,000 Est. Cost $48.74 Unrealized +38.1%

TLH ISHARES TR 0.1%

Value $255K Shares 2,507 Est. Cost $102.89 Unrealized —

XYZ BLOCK INC 0.1%

Value $247K Shares 3,802 Est. Cost $80.46 Unrealized -25.0%

DRGN THEMES ETF TR 0.0%

Value $245K Shares 7,500 Est. Cost $32.60 Unrealized —

IEUR ISHARES TR 0.0%

Value $230K Shares 3,246 Est. Cost $66.30 Unrealized —

SJT SAN JUAN BASIN RTY TR 0.0%

Value $227K Shares 40,383 Est. Cost $6.04 Unrealized —

EFV ISHARES TR 0.0%

Value $220K Shares 3,084 Est. Cost $63.48 Unrealized —

MBB ISHARES TR 0.0%

Value $216K Shares 2,269 Est. Cost $93.47 Unrealized —

DSX DIANA SHIPPING INC 0.0%

Value $168K Shares 100,000 Est. Cost — Unrealized —

NGD NEW GOLD INC CDA 0.0%

Value $109K Shares 12,500 Est. Cost $7.53 Unrealized +45.8%

NB NIOCORP DEVS LTD 0.0%

Value $106K Shares 20,000 Est. Cost $6.88 Unrealized -8.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	ALBEMARLE CORP	235,362	$13.98M	2.8%	$34.74	—	—	012653200
SHYG	ISHARES TR	273,563	$11.73M	2.4%	$43.21	—	—	46434V407
SLB	SLB LIMITED	200,000	$7.676M	1.6%	$36.06	+33.9%	CALL	806857108
VALE	VALE S A	397,116	$5.174M	1.1%	$12.32	—	—	91912E105
SIL	GLOBAL X FDS	56,134	$4.688M	1.0%	$83.52	—	—	37954Y848
BBY	BEST BUY INC	65,042	$4.353M	0.9%	$74.73	-10.4%	—	086516101
CDE	COEUR MNG INC	180,000	$3.209M	0.7%	$21.20	+5.3%	CALL	192108504
RTX	RTX CORPORATION	17,107	$3.137M	0.6%	$136.67	+43.9%	—	75513E101
TGT	TARGET CORP	31,559	$3.085M	0.6%	$93.31	+17.0%	—	87612E106
BABA	ALIBABA GROUP HLDG LTD	17,276	$2.532M	0.5%	$125.48	—	—	01609W102
SLB	SLB LIMITED	52,725	$2.024M	0.4%	$36.06	+33.9%	—	806857108
SQM	SOCIEDAD QUIMICA Y MINERA DE	20,000	$1.376M	0.3%	$68.80	—	—	833635105
QQQ	INVESCO QQQ TR	1,641	$1.008M	0.2%	$371.47	—	—	46090E103
ORCL	ORACLE CORP	4,032	$786K	0.2%	$238.05	-28.8%	—	68389X105
NUKZ	EXCHANGE TRADED CONCEPTS TRU	12,045	$765K	0.2%	$65.04	—	—	301505475
UPS	UNITED PARCEL SERVICE INC	6,000	$595K	0.1%	$92.75	+18.5%	—	911312106
BKR	BAKER HUGHES COMPANY	12,725	$579K	0.1%	$44.02	+27.4%	—	05722G100
DELL	DELL TECHNOLOGIES INC	4,000	$504K	0.1%	$101.32	+17.5%	—	24703L202
VST	VISTRA CORP	2,990	$482K	0.1%	$148.63	+9.8%	—	92840M102
HL	HECLA MNG CO	25,000	$480K	0.1%	$20.31	+18.6%	CALL	422704106
USFR	WISDOMTREE TR	9,385	$472K	0.1%	$50.28	—	—	97717Y527
KWEB	KRANESHARES TRUST	13,588	$463K	0.1%	$40.40	—	—	500767306
SLX	VANECK ETF TRUST	5,000	$424K	0.1%	$84.86	—	—	92189F205
URA	GLOBAL X FDS	9,838	$420K	0.1%	$39.25	—	—	37954Y871
GSY	INVESCO ACTIVELY MANAGED EXC	8,214	$413K	0.1%	$50.25	—	—	46090A887
BHP	BHP GROUP LTD	6,000	$362K	0.1%	$56.40	—	—	088606108
NBR	NABORS INDUSTRIES LTD	5,000	$272K	0.1%	$48.74	+38.1%	—	G6359F137
TLH	ISHARES TR	2,507	$255K	0.1%	$102.89	—	—	464288653
XYZ	BLOCK INC	3,802	$247K	0.1%	$80.46	-25.0%	—	852234103
DRGN	THEMES ETF TR	7,500	$245K	0.0%	$32.60	—	—	882927296
IEUR	ISHARES TR	3,246	$230K	0.0%	$66.30	—	—	46434V738
SJT	SAN JUAN BASIN RTY TR	40,383	$227K	0.0%	$6.04	—	—	798241105
EFV	ISHARES TR	3,084	$220K	0.0%	$63.48	—	—	464288877
MBB	ISHARES TR	2,269	$216K	0.0%	$93.47	—	—	464288588
DSX	DIANA SHIPPING INC	100,000	$168K	0.0%	—	—	CALL	Y2066G104
NGD	NEW GOLD INC CDA	12,500	$109K	0.0%	$7.53	+45.8%	—	644535106
NB	NIOCORP DEVS LTD	20,000	$106K	0.0%	$6.88	-8.5%	—	654484609

Decreased Positions (46)

IBIT ISHARES BITCOIN TRUST ETF 0.7%

Value $3.462M (-86.1%) Shares 90,108 (-82.1%) Est. Cost $35.50 Unrealized —

TEVA TEVA PHARMACEUTICAL INDS LTD 1.0%

Value $4.977M (-78.8%) Shares 165,236 (-78.0%) Est. Cost $14.40 Unrealized —

BP BP PLC 1.5%

Value $7.506M (-62.6%) Shares 159,707 (-72.4%) Est. Cost $33.30 Unrealized —

FLOT ISHARES TR 4.0%

Value $19.73M (-37.2%) Shares 387,259 (-37.3%) Est. Cost $51.07 Unrealized —

TSLA TESLA INC 4.1%

Value $19.97M (-28.3%) Shares 53,731 (-13.3%) Est. Cost $246.71 Unrealized +72.7%

PAAS PAN AMERN SILVER CORP 2.8%

Value $13.98M (-35.9%) Shares 255,848 (-39.2%) Est. Cost $19.01 Unrealized +207.3%

FCG FIRST TR EXCHANGE-TRADED FD 0.8%

Value $3.696M (-67.5%) Shares 116,625 (-76.0%) Est. Cost $23.71 Unrealized —

— HEWLETT PACKARD ENTERPRISE C 2.8%

Value $13.8M (-25.5%) Shares 213,866 (-23.0%) Est. Cost $67.88 Unrealized —

MO ALTRIA GROUP INC 0.3%

Value $1.29M (-75.4%) Shares 19,542 (-78.5%) Est. Cost $44.11 Unrealized +42.9%

NEM NEWMONT CORP 1.7%

Value $8.319M (-32.1%) Shares 76,853 (-37.4%) Est. Cost $42.03 Unrealized +181.1%

— BLOCK INC 1.7%

Value $8.409M (-23.3%) Shares 8,443,000 (-24.5%) Est. Cost $0.90 Unrealized —

VOO VANGUARD INDEX FDS 7.2%

Value $35.57M (-6.4%) Shares 59,521 (-1.8%) Est. Cost $390.03 Unrealized —

DVN DEVON ENERGY CORP NEW 0.1%

Value $514K (-81.8%) Shares 10,225 (-86.7%) Est. Cost $34.16 Unrealized +17.8%

AA ALCOA CORP 1.3%

Value $6.217M (-26.8%) Shares 93,736 (-41.4%) Est. Cost $40.88 Unrealized +49.4%

B BARRICK MNG CORP 0.7%

Value $3.68M (-38.0%) Shares 90,208 (-33.8%) Est. Cost $19.29 Unrealized +150.4%

XLK SELECT SECTOR SPDR TR 0.1%

Value $728K (-74.9%) Shares 5,480 (-72.8%) Est. Cost $144.13 Unrealized —

CVX CHEVRON CORPORATION 0.3%

Value $1.427M (-56.5%) Shares 6,898 (-67.9%) Est. Cost $128.09 Unrealized +34.2%

PLTR PALANTIR TECHNOLOGIES INC 1.1%

Value $5.5M (-19.1%) Shares 37,600 (-1.6%) Est. Cost $31.64 Unrealized +387.2%

IWF ISHARES TR 0.2%

Value $1.04M (-50.6%) Shares 2,440 (-45.2%) Est. Cost $264.29 Unrealized —

RIG TRANSOCEAN LTD 0.0%

Value $72,062 (-91.7%) Shares 10,869 (-94.8%) Est. Cost $3.54 Unrealized +45.7%

CCJ CAMECO CORP 0.1%

Value $569K (-57.7%) Shares 5,237 (-64.4%) Est. Cost $85.88 Unrealized +35.4%

FCX FREEPORT MCMORAN INC 4.3%

Value $21.03M (-3.2%) Shares 357,824 (-16.3%) Est. Cost $41.69 Unrealized +46.6%

SPTM SPDR SERIES TRUST 0.5%

Value $2.454M (-19.5%) Shares 31,038 (-16.0%) Est. Cost $69.25 Unrealized —

MRK MERCK & CO INC 1.2%

Value $5.997M (-7.8%) Shares 49,854 (-19.3%) Est. Cost $83.54 Unrealized +36.8%

— NEXTERA ENERGY INC 4.4%

Value $21.48M (+2.2%) Shares 408,776 (-5.2%) Est. Cost $47.03 Unrealized —

CEF SPROTT ASSET MANAGEMENT LP 0.1%

Value $518K (-45.2%) Shares 10,851 (-47.4%) Est. Cost $17.38 Unrealized —

XOM EXXON MOBIL CORP 1.0%

Value $5.102M (-5.4%) Shares 30,070 (-32.9%) Est. Cost $87.11 Unrealized +59.3%

INTC INTEL CORP 0.3%

Value $1.261M (-17.7%) Shares 28,567 (-31.2%) Est. Cost $24.84 Unrealized +86.9%

SCHG SCHWAB STRATEGIC TR 0.1%

Value $499K (-34.8%) Shares 17,116 (-27.0%) Est. Cost $49.55 Unrealized —

SCCO SOUTHERN COPPER CORP 0.2%

Value $918K (-15.1%) Shares 5,338 (-29.2%) Est. Cost $76.85 Unrealized +143.8%

DAX GLOBAL X FDS 0.3%

Value $1.59M (-9.2%) Shares 37,723 (-1.7%) Est. Cost $44.93 Unrealized —

MUB ISHARES TR 0.1%

Value $577K (-21.0%) Shares 5,439 (-20.3%) Est. Cost $108.32 Unrealized —

BDYN BLACKROCK ETF TRUST 0.1%

Value $664K (-15.3%) Shares 27,307 (-10.7%) Est. Cost $25.31 Unrealized —

EXK ENDEAVOUR SILVER CORP 0.1%

Value $279K (-25.7%) Shares 30,000 (-25.0%) Est. Cost $8.48 Unrealized +39.8%

XLF SELECT SECTOR SPDR TR 0.0%

Value $214K (-27.7%) Shares 4,331 (-19.8%) Est. Cost $47.70 Unrealized —

BDVL BLACKROCK ETF TRUST 0.1%

Value $409K (-16.6%) Shares 16,572 (-16.0%) Est. Cost $25.00 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.1%

Value $631K (-10.7%) Shares 970 (-6.4%) Est. Cost $502.07 Unrealized —

AMZN AMAZON COM INC 0.1%

Value $251K (-11.7%) Shares 1,207 (-2.2%) Est. Cost $228.79 Unrealized -0.9%

APIE TRUST FOR PROFESSIONAL MANAG 0.1%

Value $644K (-3.5%) Shares 18,271 (-2.8%) Est. Cost $28.79 Unrealized —

XLI SELECT SECTOR SPDR TR 0.3%

Value $1.582M (+1.5%) Shares 9,783 (-2.7%) Est. Cost $102.46 Unrealized —

FISR SSGA ACTIVE TR 0.0%

Value $216K (-8.3%) Shares 8,383 (-7.6%) Est. Cost $25.93 Unrealized —

— AMPHASTAR PHARMACEUTICALS IN 0.0%

Value $199K (-8.8%) Shares 220,000 (-6.4%) Est. Cost $0.93 Unrealized —

IVV ISHARES TR 0.1%

Value $261K (-6.7%) Shares 400 (-2.2%) Est. Cost $436.79 Unrealized —

SLV ISHARES SILVER TR 0.3%

Value $1.319M (-1.0%) Shares 19,353 (-6.4%) Est. Cost $28.26 Unrealized —

DNN DENISON MINES CORP 0.0%

Value $61,775 (+23.6%) Shares 17,500 (-6.8%) Est. Cost $2.35 Unrealized +60.7%

AGG ISHARES TR 0.1%

Value $370K (-2.1%) Shares 3,730 (-1.6%) Est. Cost $100.39 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	90,108 (-82.1%)	$3.462M (-86.1%)	0.7%	$35.50	—	SHS BEN INT	46438F101
TEVA	TEVA PHARMACEUTICAL INDS LTD	165,236 (-78.0%)	$4.977M (-78.8%)	1.0%	$14.40	—	SPONSORED ADS	881624209
BP	BP PLC	159,707 (-72.4%)	$7.506M (-62.6%)	1.5%	$33.30	—	SPONSORED ADR	055622104
FLOT	ISHARES TR	387,259 (-37.3%)	$19.73M (-37.2%)	4.0%	$51.07	—	FLTG RATE NT ETF	46429B655
TSLA	TESLA INC	53,731 (-13.3%)	$19.97M (-28.3%)	4.1%	$246.71	+72.7%	COM	88160R101
PAAS	PAN AMERN SILVER CORP	255,848 (-39.2%)	$13.98M (-35.9%)	2.8%	$19.01	+207.3%	COM	697900108
FCG	FIRST TR EXCHANGE-TRADED FD	116,625 (-76.0%)	$3.696M (-67.5%)	0.8%	$23.71	—	NAT GAS ETF	33733E807
—	HEWLETT PACKARD ENTERPRISE C	213,866 (-23.0%)	$13.8M (-25.5%)	2.8%	$67.88	—	7.625 MAND CONV	42824C208
MO	ALTRIA GROUP INC	19,542 (-78.5%)	$1.29M (-75.4%)	0.3%	$44.11	+42.9%	COM	02209S103
NEM	NEWMONT CORP	76,853 (-37.4%)	$8.319M (-32.1%)	1.7%	$42.03	+181.1%	COM	651639106
—	BLOCK INC	8,443,000 (-24.5%)	$8.409M (-23.3%)	1.7%	$0.90	—	NOTE 5/0	852234AJ2
VOO	VANGUARD INDEX FDS	59,521 (-1.8%)	$35.57M (-6.4%)	7.2%	$390.03	—	S&P 500 ETF SHS	922908363
DVN	DEVON ENERGY CORP NEW	10,225 (-86.7%)	$514K (-81.8%)	0.1%	$34.16	+17.8%	COM	25179M103
AA	ALCOA CORP	93,736 (-41.4%)	$6.217M (-26.8%)	1.3%	$40.88	+49.4%	COM	013872106
B	BARRICK MNG CORP	90,208 (-33.8%)	$3.68M (-38.0%)	0.7%	$19.29	+150.4%	COM SHS	06849F108
XLK	SELECT SECTOR SPDR TR	5,480 (-72.8%)	$728K (-74.9%)	0.1%	$144.13	—	STATE STREET TEC	81369Y803
CVX	CHEVRON CORPORATION	6,898 (-67.9%)	$1.427M (-56.5%)	0.3%	$128.09	+34.2%	COM	166764100
PLTR	PALANTIR TECHNOLOGIES INC	37,600 (-1.6%)	$5.5M (-19.1%)	1.1%	$31.64	+387.2%	CL A	69608A108
IWF	ISHARES TR	2,440 (-45.2%)	$1.04M (-50.6%)	0.2%	$264.29	—	RUS 1000 GRW ETF	464287614
RIG	TRANSOCEAN LTD	10,869 (-94.8%)	$72,062 (-91.7%)	0.0%	$3.54	+45.7%	REGISTERED SHS	H8817H100
CCJ	CAMECO CORP	5,237 (-64.4%)	$569K (-57.7%)	0.1%	$85.88	+35.4%	COM	13321L108
FCX	FREEPORT MCMORAN INC	357,824 (-16.3%)	$21.03M (-3.2%)	4.3%	$41.69	+46.6%	CL B	35671D857
SPTM	SPDR SERIES TRUST	31,038 (-16.0%)	$2.454M (-19.5%)	0.5%	$69.25	—	STATE STREET SPD	78464A805
MRK	MERCK & CO INC	49,854 (-19.3%)	$5.997M (-7.8%)	1.2%	$83.54	+36.8%	COM	58933Y105
—	NEXTERA ENERGY INC	408,776 (-5.2%)	$21.48M (+2.2%)	4.4%	$47.03	—	UNIT 11/01/2027	65339F119
CEF	SPROTT ASSET MANAGEMENT LP	10,851 (-47.4%)	$518K (-45.2%)	0.1%	$17.38	—	PHYSICAL GOLD AN	85208R101
XOM	EXXON MOBIL CORP	30,070 (-32.9%)	$5.102M (-5.4%)	1.0%	$87.11	+59.3%	COM	30231G102
INTC	INTEL CORP	28,567 (-31.2%)	$1.261M (-17.7%)	0.3%	$24.84	+86.9%	COM	458140100
SCHG	SCHWAB STRATEGIC TR	17,116 (-27.0%)	$499K (-34.8%)	0.1%	$49.55	—	US LCAP GR ETF	808524300
SCCO	SOUTHERN COPPER CORP	5,338 (-29.2%)	$918K (-15.1%)	0.2%	$76.85	+143.8%	COM	84265V105
DAX	GLOBAL X FDS	37,723 (-1.7%)	$1.59M (-9.2%)	0.3%	$44.93	—	DAX GERMANY ETF	37954Y491
MUB	ISHARES TR	5,439 (-20.3%)	$577K (-21.0%)	0.1%	$108.32	—	NATIONAL MUN ETF	464288414
BDYN	BLACKROCK ETF TRUST	27,307 (-10.7%)	$664K (-15.3%)	0.1%	$25.31	—	DYNAMIC EQTY ACT	09290C723
EXK	ENDEAVOUR SILVER CORP	30,000 (-25.0%)	$279K (-25.7%)	0.1%	$8.48	+39.8%	COM	29258Y103
XLF	SELECT SECTOR SPDR TR	4,331 (-19.8%)	$214K (-27.7%)	0.0%	$47.70	—	STATE STREET FIN	81369Y605
BDVL	BLACKROCK ETF TRUST	16,572 (-16.0%)	$409K (-16.6%)	0.1%	$25.00	—	DISCIPLINED VOLA	09290C715
SPY	STATE STR SPDR S&P 500 ETF T	970 (-6.4%)	$631K (-10.7%)	0.1%	$502.07	—	TR UNIT	78462F103
AMZN	AMAZON COM INC	1,207 (-2.2%)	$251K (-11.7%)	0.1%	$228.79	-0.9%	COM	023135106
APIE	TRUST FOR PROFESSIONAL MANAG	18,271 (-2.8%)	$644K (-3.5%)	0.1%	$28.79	—	ACTIVEPASSIVE EQ	89834G737
XLI	SELECT SECTOR SPDR TR	9,783 (-2.7%)	$1.582M (+1.5%)	0.3%	$102.46	—	STATE STREET IND	81369Y704
FISR	SSGA ACTIVE TR	8,383 (-7.6%)	$216K (-8.3%)	0.0%	$25.93	—	STATE STREET FIX	78470P507
—	AMPHASTAR PHARMACEUTICALS IN	220,000 (-6.4%)	$199K (-8.8%)	0.0%	$0.93	—	NOTE 2.000% 3/1	03209RAB9
IVV	ISHARES TR	400 (-2.2%)	$261K (-6.7%)	0.1%	$436.79	—	CORE S&P500 ETF	464287200
SLV	ISHARES SILVER TR	19,353 (-6.4%)	$1.319M (-1.0%)	0.3%	$28.26	—	ISHARES	46428Q109
DNN	DENISON MINES CORP	17,500 (-6.8%)	$61,775 (+23.6%)	0.0%	$2.35	+60.7%	COM	248356107
AGG	ISHARES TR	3,730 (-1.6%)	$370K (-2.1%)	0.1%	$100.39	—	CORE US AGGBD ET	464287226

Unchanged Positions (34)

AEM AGNICO EAGLE MINES LTD 1.5%

Value $7.314M Shares 36,035 Est. Cost $54.17 Unrealized +280.3%

LNG CHENIERE ENERGY INC 0.6%

Value $3.119M Shares 10,991 Est. Cost $166.15 Unrealized +26.3%

NEE NEXTERA ENERGY INC 1.1%

Value $5.517M Shares 59,398 Est. Cost $68.66 Unrealized +27.0%

WPM WHEATON PRECIOUS METALS CORP 1.5%

Value $7.357M Shares 56,159 Est. Cost $49.81 Unrealized +180.7%

COP CONOCOPHILLIPS 0.4%

Value $2.104M Shares 15,939 Est. Cost $98.93 Unrealized +3.8%

IVZ INVESCO LTD 0.8%

Value $3.844M Shares 158,255 Est. Cost $20.53 Unrealized +33.7%

LLY ELI LILLY & CO 0.3%

Value $1.483M Shares 1,612 Est. Cost $357.96 Unrealized +192.5%

EQT EQT CORP 0.3%

Value $1.346M Shares 21,143 Est. Cost $45.43 Unrealized +21.7%

SHLD GLOBAL X FDS 0.5%

Value $2.353M Shares 33,212 Est. Cost $50.42 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.2%

Value $823K Shares 3,394 Est. Cost $144.01 Unrealized +97.2%

VLO VALERO ENERGY CORP 0.1%

Value $494K Shares 2,000 Est. Cost $147.81 Unrealized +28.6%

AAPL APPLE INC 0.5%

Value $2.311M Shares 9,106 Est. Cost $139.91 Unrealized +87.9%

T AT&T INC 0.2%

Value $805K Shares 27,751 Est. Cost $15.96 Unrealized +61.4%

PBT PERMIAN BASIN RTY TR 0.1%

Value $538K Shares 25,000 Est. Cost $11.49 Unrealized —

DHR DANAHER CORP DEL 0.1%

Value $346K Shares 1,823 Est. Cost $228.13 Unrealized -1.5%

GLD SPDR GOLD TR 0.2%

Value $975K Shares 2,265 Est. Cost $247.93 Unrealized —

APUE TRUST FOR PROFESSIONAL MANAG 0.3%

Value $1.507M Shares 37,608 Est. Cost $32.08 Unrealized —

WMT WALMART INC 0.1%

Value $471K Shares 3,787 Est. Cost $52.06 Unrealized +134.4%

D DOMINION ENERGY INC 0.2%

Value $841K Shares 13,598 Est. Cost $56.66 Unrealized +8.7%

KTOS KRATOS DEFENSE & SEC SOLUTIO 0.1%

Value $544K Shares 7,721 Est. Cost $64.04 Unrealized +59.9%

ABBV ABBVIE INC 0.1%

Value $654K Shares 3,008 Est. Cost $138.00 Unrealized +61.3%

LH LABCORP HOLDINGS INC 0.1%

Value $324K Shares 1,215 Est. Cost $240.27 Unrealized +12.8%

VTI VANGUARD INDEX FDS 0.1%

Value $447K Shares 1,393 Est. Cost $335.27 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.1%

Value $254K Shares 300 Est. Cost $571.74 Unrealized +63.1%

USMV ISHARES TR 0.2%

Value $784K Shares 8,456 Est. Cost $65.67 Unrealized —

IWS ISHARES TR 0.0%

Value $216K Shares 1,480 Est. Cost $139.67 Unrealized —

NSC NORFOLK SOUTHN CORP 0.2%

Value $982K Shares 3,420 Est. Cost $200.12 Unrealized +49.0%

IEFA ISHARES TR 0.1%

Value $247K Shares 2,733 Est. Cost $74.72 Unrealized —

VXUS VANGUARD STAR FDS 0.0%

Value $206K Shares 2,677 Est. Cost $75.44 Unrealized —

SPG SIMON PPTY GROUP INC NEW 0.1%

Value $466K Shares 2,500 Est. Cost $93.26 Unrealized +97.3%

NATO THEMES ETF TR 0.0%

Value $203K Shares 5,256 Est. Cost $35.79 Unrealized —

IUSB ISHARES TR 0.0%

Value $202K Shares 4,366 Est. Cost $45.39 Unrealized —

APMU TRUST FOR PROFESSIONAL MANAG 0.1%

Value $283K Shares 11,353 Est. Cost $24.80 Unrealized —

APCB TRUST FOR PROFESSIONAL MANAG 0.1%

Value $637K Shares 21,623 Est. Cost $29.42 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AEM	AGNICO EAGLE MINES LTD	36,035	$7.314M	1.5%	$54.17	+280.3%	COM	008474108
LNG	CHENIERE ENERGY INC	10,991	$3.119M	0.6%	$166.15	+26.3%	COM NEW	16411R208
NEE	NEXTERA ENERGY INC	59,398	$5.517M	1.1%	$68.66	+27.0%	COM	65339F101
WPM	WHEATON PRECIOUS METALS CORP	56,159	$7.357M	1.5%	$49.81	+180.7%	COM	962879102
COP	CONOCOPHILLIPS	15,939	$2.104M	0.4%	$98.93	+3.8%	COM	20825C104
IVZ	INVESCO LTD	158,255	$3.844M	0.8%	$20.53	+33.7%	SHS	G491BT108
LLY	ELI LILLY & CO	1,612	$1.483M	0.3%	$357.96	+192.5%	COM	532457108
EQT	EQT CORP	21,143	$1.346M	0.3%	$45.43	+21.7%	COM	26884L109
SHLD	GLOBAL X FDS	33,212	$2.353M	0.5%	$50.42	—	DEFENSE TECH ETF	37960A529
IBM	INTERNATIONAL BUSINESS MACHS	3,394	$823K	0.2%	$144.01	+97.2%	COM	459200101
VLO	VALERO ENERGY CORP	2,000	$494K	0.1%	$147.81	+28.6%	COM	91913Y100
AAPL	APPLE INC	9,106	$2.311M	0.5%	$139.91	+87.9%	COM	037833100
T	AT&T INC	27,751	$805K	0.2%	$15.96	+61.4%	COM	00206R102
PBT	PERMIAN BASIN RTY TR	25,000	$538K	0.1%	$11.49	—	UNIT BEN INT	714236106
DHR	DANAHER CORP DEL	1,823	$346K	0.1%	$228.13	-1.5%	COM	235851102
GLD	SPDR GOLD TR	2,265	$975K	0.2%	$247.93	—	GOLD SHS	78463V107
APUE	TRUST FOR PROFESSIONAL MANAG	37,608	$1.507M	0.3%	$32.08	—	ACTIVEPASSIVE US	89834G729
WMT	WALMART INC	3,787	$471K	0.1%	$52.06	+134.4%	COM	931142103
D	DOMINION ENERGY INC	13,598	$841K	0.2%	$56.66	+8.7%	COM	25746U109
KTOS	KRATOS DEFENSE & SEC SOLUTIO	7,721	$544K	0.1%	$64.04	+59.9%	COM NEW	50077B207
ABBV	ABBVIE INC	3,008	$654K	0.1%	$138.00	+61.3%	COM	00287Y109
LH	LABCORP HOLDINGS INC	1,215	$324K	0.1%	$240.27	+12.8%	COM SHS	504922105
VTI	VANGUARD INDEX FDS	1,393	$447K	0.1%	$335.27	—	TOTAL STK MKT	922908769
GS	GOLDMAN SACHS GROUP INC	300	$254K	0.1%	$571.74	+63.1%	COM	38141G104
USMV	ISHARES TR	8,456	$784K	0.2%	$65.67	—	MSCI USA MIN VOL	46429B697
IWS	ISHARES TR	1,480	$216K	0.0%	$139.67	—	RUS MDCP VAL ETF	464287473
NSC	NORFOLK SOUTHN CORP	3,420	$982K	0.2%	$200.12	+49.0%	COM	655844108
IEFA	ISHARES TR	2,733	$247K	0.1%	$74.72	—	CORE MSCI EAFE	46432F842
VXUS	VANGUARD STAR FDS	2,677	$206K	0.0%	$75.44	—	VG TL INTL STK F	921909768
SPG	SIMON PPTY GROUP INC NEW	2,500	$466K	0.1%	$93.26	+97.3%	COM	828806109
NATO	THEMES ETF TR	5,256	$203K	0.0%	$35.79	—	TRANSATLANTIC DE	882927767
IUSB	ISHARES TR	4,366	$202K	0.0%	$45.39	—	CORE UNIVRSL USD	46434V613
APMU	TRUST FOR PROFESSIONAL MANAG	11,353	$283K	0.1%	$24.80	—	ACTIVEPASSIVE MN	89834G745
APCB	TRUST FOR PROFESSIONAL MANAG	21,623	$637K	0.1%	$29.42	—	ACTIVEPASSIVE CR	89834G752