Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
OLN	OLIN CORP	156,798	$3.108M	2.7%	$19.82	—	COM	680665205
B	BARRICK MNG CORP F	21,590	$793K	0.7%	$36.73	—	FGC	06849F108
PLTR	PALANTIR TECHNOLOGIES IN	5,400	$630K	0.6%	$116.67	—	COM	69608A108
SIF	SIFCO INDS INC	8,700	$204K	0.2%	$23.40	—	COM	826546103
ALOY	REALLOYS INC	14,000	$202K	0.2%	$14.45	—	COM	75606V101
LPTH	LIGHTPATH TECHNOLOGIES I	10,000	$164K	0.1%	$16.35	—	COM	532257805
INV	INNVENTURE INC	10,000	$50,700	0.0%	$5.07	—	COM	45784M108

Increased Positions (16)

VTRS VIATRIS INC 6.0%

Value $6.839M (+67.9%) Shares 430,675 (+42.9%) Est. Cost $13.31 Unrealized —

FCX FREEPORT-MCMORAN INC 2.9%

Value $3.339M (+99.4%) Shares 53,090 (+86.4%) Est. Cost $52.39 Unrealized —

ENB ENBRIDGE INC F 4.1%

Value $4.609M (+28.7%) Shares 85,014 (+28.6%) Est. Cost $48.69 Unrealized —

XOM EXXON MOBIL CORP 3.3%

Value $3.759M (-15.1%) Shares 27,497 (+5.3%) Est. Cost $116.56 Unrealized —

SFD SMITHFIELD FOODS INC 3.4%

Value $3.825M (+21.2%) Shares 157,648 (+39.7%) Est. Cost $23.21 Unrealized —

KMI KINDER MORGAN INC DEL 4.4%

Value $5.02M (+10.7%) Shares 157,020 (+16.1%) Est. Cost $27.61 Unrealized —

AFL AFLAC INC 3.0%

Value $3.422M (+15.4%) Shares 29,183 (+7.9%) Est. Cost $110.39 Unrealized —

CFG CITIZENS FINL GROUP INC 1.7%

Value $1.898M (+23.5%) Shares 27,082 (+5.7%) Est. Cost $57.29 Unrealized —

VLO VALERO ENERGY CORP NEW 2.6%

Value $2.978M (+10.8%) Shares 11,434 (+5.1%) Est. Cost $193.50 Unrealized —

SCHW CHARLES SCHWAB CORP 2.5%

Value $2.884M (+9.5%) Shares 31,257 (+11.5%) Est. Cost $94.48 Unrealized —

GSL GLOBAL SHIP LEASE INC F 4.1%

Value $4.645M (+4.5%) Shares 123,530 (+3.5%) Est. Cost $33.21 Unrealized —

GLD SPDR GOLD SHARES 0.9%

Value $1.065M (-13.3%) Shares 2,892 (+1.3%) Est. Cost $429.50 Unrealized —

OUSM ALPS O'SHARES U.S. 0.5%

Value $515K (+26.8%) Shares 10,830 (+16.7%) Est. Cost $44.28 Unrealized —

GROY GOLD RTY CORP CDA F 0.1%

Value $115K (+100.0%) Shares 41,500 (+159.4%) Est. Cost $3.44 Unrealized —

PPL PPL CORP 2.4%

Value $2.726M (-1.7%) Shares 74,997 (+3.3%) Est. Cost $35.85 Unrealized —

USAS AMERICAS GOLD & SILVER F 0.1%

Value $158K (-7.9%) Shares 33,500 (+1.8%) Est. Cost $7.28 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VTRS	VIATRIS INC	430,675 (+42.9%)	$6.839M (+67.9%)	6.0%	$13.31	—	COM	92556V106
FCX	FREEPORT-MCMORAN INC	53,090 (+86.4%)	$3.339M (+99.4%)	2.9%	$52.39	—	COM	35671D857
ENB	ENBRIDGE INC F	85,014 (+28.6%)	$4.609M (+28.7%)	4.1%	$48.69	—	FGC	29250N105
XOM	EXXON MOBIL CORP	27,497 (+5.3%)	$3.759M (-15.1%)	3.3%	$116.56	—	COM	30231G102
SFD	SMITHFIELD FOODS INC	157,648 (+39.7%)	$3.825M (+21.2%)	3.4%	$23.21	—	COM	832248207
KMI	KINDER MORGAN INC DEL	157,020 (+16.1%)	$5.02M (+10.7%)	4.4%	$27.61	—	COM	49456B101
AFL	AFLAC INC	29,183 (+7.9%)	$3.422M (+15.4%)	3.0%	$110.39	—	COM	001055102
CFG	CITIZENS FINL GROUP INC	27,082 (+5.7%)	$1.898M (+23.5%)	1.7%	$57.29	—	COM	174610105
VLO	VALERO ENERGY CORP NEW	11,434 (+5.1%)	$2.978M (+10.8%)	2.6%	$193.50	—	COM	91913Y100
SCHW	CHARLES SCHWAB CORP	31,257 (+11.5%)	$2.884M (+9.5%)	2.5%	$94.48	—	COM	808513105
GSL	GLOBAL SHIP LEASE INC F	123,530 (+3.5%)	$4.645M (+4.5%)	4.1%	$33.21	—	FGO	Y27183600
GLD	SPDR GOLD SHARES	2,892 (+1.3%)	$1.065M (-13.3%)	0.9%	$429.50	—	UIE	78463V107
OUSM	ALPS O'SHARES U.S.	10,830 (+16.7%)	$515K (+26.8%)	0.5%	$44.28	—	UIE	00162Q395
GROY	GOLD RTY CORP CDA F	41,500 (+159.4%)	$115K (+100.0%)	0.1%	$3.44	—	FGC	38071H106
PPL	PPL CORP	74,997 (+3.3%)	$2.726M (-1.7%)	2.4%	$35.85	—	COM	69351T106
USAS	AMERICAS GOLD & SILVER F	33,500 (+1.8%)	$158K (-7.9%)	0.1%	$7.28	—	FGC	03062D803

Decreased Positions (11)

INTC INTEL CORP 1.6%

Value $1.85M (-65.5%) Shares 13,246 (-89.1%) Est. Cost $41.15 Unrealized —

GLW CORNING INC 6.5%

Value $7.348M (+45.6%) Shares 28,767 (-22.5%) Est. Cost $85.98 Unrealized —

TXN TEXAS INSTRS INC 3.5%

Value $4.032M (+35.7%) Shares 13,528 (-11.6%) Est. Cost $170.73 Unrealized —

NEM NEWMONT CORP 3.3%

Value $3.746M (-16.8%) Shares 40,112 (-3.5%) Est. Cost $90.20 Unrealized —

SLV ISHARES SILVER TRUST 1.8%

Value $1.998M (-22.4%) Shares 37,368 (-1.1%) Est. Cost $64.42 Unrealized —

UL UNILEVER PLC F 1.7%

Value $1.983M (-11.5%) Shares 32,992 (-16.2%) Est. Cost $65.40 Unrealized —

RDNT RADNET INC 0.3%

Value $370K (-33.8%) Shares 6,000 (-40.0%) Est. Cost $77.21 Unrealized —

TEVA TEVA PHARMACEUTICAL IN F 2.5%

Value $2.797M (+4.6%) Shares 82,550 (-7.0%) Est. Cost $31.21 Unrealized —

MO ALTRIA GROUP INC 1.0%

Value $1.092M (+7.8%) Shares 15,181 (-1.1%) Est. Cost $59.36 Unrealized —

GE GE AEROSPACE 0.4%

Value $425K (+20.7%) Shares 1,137 (-8.4%) Est. Cost $318.19 Unrealized —

ABBNY ABB LTD F 3.0%

Value $3.406M (+0.0%) Shares 31,333 (-26.0%) Est. Cost $73.97 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INTC	INTEL CORP	13,246 (-89.1%)	$1.85M (-65.5%)	1.6%	$41.15	—	COM	458140100
GLW	CORNING INC	28,767 (-22.5%)	$7.348M (+45.6%)	6.5%	$85.98	—	COM	219350105
TXN	TEXAS INSTRS INC	13,528 (-11.6%)	$4.032M (+35.7%)	3.5%	$170.73	—	COM	882508104
NEM	NEWMONT CORP	40,112 (-3.5%)	$3.746M (-16.8%)	3.3%	$90.20	—	COM	651639106
SLV	ISHARES SILVER TRUST	37,368 (-1.1%)	$1.998M (-22.4%)	1.8%	$64.42	—	UIE	46428Q109
UL	UNILEVER PLC F	32,992 (-16.2%)	$1.983M (-11.5%)	1.7%	$65.40	—	ADR	904767803
RDNT	RADNET INC	6,000 (-40.0%)	$370K (-33.8%)	0.3%	$77.21	—	COM	750491102
TEVA	TEVA PHARMACEUTICAL IN F	82,550 (-7.0%)	$2.797M (+4.6%)	2.5%	$31.21	—	ADR	881624209
MO	ALTRIA GROUP INC	15,181 (-1.1%)	$1.092M (+7.8%)	1.0%	$59.36	—	COM	02209S103
GE	GE AEROSPACE	1,137 (-8.4%)	$425K (+20.7%)	0.4%	$318.19	—	COM	369604301
ABBNY	ABB LTD F	31,333 (-26.0%)	$3.406M (+0.0%)	3.0%	$73.97	—	ADR	000375204

Unchanged Positions (23)

ABBV ABBVIE INC 3.9%

Value $4.481M Shares 17,806 Est. Cost $227.54 Unrealized —

DSWL DESWELL INDS INC F 2.2%

Value $2.5M Shares 641,110 Est. Cost $3.49 Unrealized —

RF REGIONS FINL CORP NEW 3.9%

Value $4.41M Shares 146,032 Est. Cost $25.37 Unrealized —

IBM IBM CORP 3.3%

Value $3.785M Shares 13,459 Est. Cost $298.78 Unrealized —

CVX CHEVRON CORP NEW 1.7%

Value $1.988M Shares 11,994 Est. Cost $151.40 Unrealized —

PAAS PAN AMERN SILVER CORP F 1.4%

Value $1.605M Shares 35,835 Est. Cost $41.86 Unrealized —

LYG LLOYDS BANKING GROUP P F 1.9%

Value $2.184M Shares 374,661 Est. Cost $5.23 Unrealized —

EPD ENTERPRISE PRODS PART LP 2.8%

Value $3.216M Shares 87,490 Est. Cost $34.07 Unrealized —

GEV GE VERNOVA INC 0.3%

Value $351K Shares 299 Est. Cost $736.93 Unrealized —

TSLA TESLA INC 0.5%

Value $564K Shares 1,340 Est. Cost $425.98 Unrealized —

MRK MERCK & CO. INC. 0.6%

Value $663K Shares 5,158 Est. Cost $114.28 Unrealized —

ET ENERGY TRANSFER L P LP 2.6%

Value $2.998M Shares 156,820 Est. Cost $16.49 Unrealized —

USB US BANCORP DEL 0.2%

Value $272K Shares 4,500 Est. Cost $56.63 Unrealized —

UAMY UNITED STS ANTIMONY CORP 0.2%

Value $179K Shares 24,700 Est. Cost $7.85 Unrealized —

COST COSTCO WHSL CORP NEW 0.3%

Value $387K Shares 413 Est. Cost $963.77 Unrealized —

HD HOME DEPOT INC 0.3%

Value $291K Shares 825 Est. Cost $376.98 Unrealized —

PG PROCTER & GAMBLE CO 0.7%

Value $796K Shares 5,426 Est. Cost $151.77 Unrealized —

WLTNF WILTON RES INC F 0.0%

Value $45,840 Shares 137,000 Est. Cost $0.25 Unrealized —

MSFT MICROSOFT CORP 0.6%

Value $646K Shares 1,732 Est. Cost $434.61 Unrealized —

AMGN AMGEN INC 0.3%

Value $287K Shares 792 Est. Cost $349.67 Unrealized —

BTG B2GOLD CORP F 0.0%

Value $37,400 Shares 10,000 Est. Cost $5.12 Unrealized —

URG UR-ENERGY INC F 0.0%

Value $27,200 Shares 20,000 Est. Cost $1.71 Unrealized —

BDWBF BUDWEISER BREWING ORDF 0.0%

Value $9,404 Shares 12,091 Est. Cost $1.05 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ABBV	ABBVIE INC	17,806	$4.481M	3.9%	$227.54	—	COM	00287Y109
DSWL	DESWELL INDS INC F	641,110	$2.5M	2.2%	$3.49	—	FGO	250639101
RF	REGIONS FINL CORP NEW	146,032	$4.41M	3.9%	$25.37	—	COM	7591EP100
IBM	IBM CORP	13,459	$3.785M	3.3%	$298.78	—	COM	459200101
CVX	CHEVRON CORP NEW	11,994	$1.988M	1.7%	$151.40	—	COM	166764100
PAAS	PAN AMERN SILVER CORP F	35,835	$1.605M	1.4%	$41.86	—	FGC	697900108
LYG	LLOYDS BANKING GROUP P F	374,661	$2.184M	1.9%	$5.23	—	ADR	539439109
EPD	ENTERPRISE PRODS PART LP	87,490	$3.216M	2.8%	$34.07	—	MLP	293792107
GEV	GE VERNOVA INC	299	$351K	0.3%	$736.93	—	COM	36828A101
TSLA	TESLA INC	1,340	$564K	0.5%	$425.98	—	COM	88160R101
MRK	MERCK & CO. INC.	5,158	$663K	0.6%	$114.28	—	COM	58933Y105
ET	ENERGY TRANSFER L P LP	156,820	$2.998M	2.6%	$16.49	—	MLP	29273V100
USB	US BANCORP DEL	4,500	$272K	0.2%	$56.63	—	COM	902973304
UAMY	UNITED STS ANTIMONY CORP	24,700	$179K	0.2%	$7.85	—	COM	911549103
COST	COSTCO WHSL CORP NEW	413	$387K	0.3%	$963.77	—	COM	22160K105
HD	HOME DEPOT INC	825	$291K	0.3%	$376.98	—	COM	437076102
PG	PROCTER & GAMBLE CO	5,426	$796K	0.7%	$151.77	—	COM	742718109
WLTNF	WILTON RES INC F	137,000	$45,840	0.0%	$0.25	—	FGC	97263A105
MSFT	MICROSOFT CORP	1,732	$646K	0.6%	$434.61	—	COM	594918104
AMGN	AMGEN INC	792	$287K	0.3%	$349.67	—	COM	031162100
BTG	B2GOLD CORP F	10,000	$37,400	0.0%	$5.12	—	FGC	11777Q209
URG	UR-ENERGY INC F	20,000	$27,200	0.0%	$1.71	—	FGC	91688R108
BDWBF	BUDWEISER BREWING ORDF	12,091	$9,404	0.0%	$1.05	—	UFO	G1674K101