Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	4,283	$4.944M	4.3%	$1154.29	—	COM	595112103
WDC	WESTERN DIGITAL CORP	5,453	$3.483M	3.0%	$638.72	—	COM	958102105
TSLA	TESLA INC	5,200	$2.187M	1.9%	$420.60	—	COM	88160R101
—	ABRDN PHYSICAL PLATINUM SHARES ETF	67,570	$955K	0.8%	$14.13	—	SHS BEN INT	00162Q866
—	ISHARES BITCOIN TRUST	19,000	$633K	0.5%	$33.29	—	SHS BEN INT	46438U846
MU	MICRON TECHNOLOGY INC	1,000	$217K	0.2%	$1154.29	—	PUT	595112103

Increased Positions (2)

AMD ADVANCED MICRO DEVICES INC 6.3%

Value $7.202M (+490.0%) Shares 12,397 (+106.6%) Est. Cost $407.06 Unrealized —

PALL ABRDN PHYSICAL PALLADIUM SHARES ETF 0.8%

Value $934K (-18.0%) Shares 42,305 (+400.0%) Est. Cost $44.61 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMD	ADVANCED MICRO DEVICES INC	12,397 (+106.6%)	$7.202M (+490.0%)	6.3%	$407.06	—	COM	007903107
PALL	ABRDN PHYSICAL PALLADIUM SHARES ETF	42,305 (+400.0%)	$934K (-18.0%)	0.8%	$44.61	—	SHS BEN INT	003262102

Exited Positions (23)

AGX ARGAN INC 2.1%

Value $2.393M Shares 4,393 Est. Cost $370.57 Unrealized —

VRT VERTIV HOLDINGS LLC 1.7%

Value $1.902M Shares 7,590 Est. Cost $173.58 Unrealized —

LITE LUMENTUM HOLDINGS INC 1.6%

Value $1.79M Shares 2,547 Est. Cost $467.14 Unrealized —

PPLT ABRDN PLATINUM ETF 1.0%

Value $1.204M Shares 6,757 Est. Cost $178.23 Unrealized —

IBIT ISHARES BITCOIN TR ETF 0.7%

Value $749K Shares 19,500 Est. Cost $49.65 Unrealized —

ETHA ISHARES ETHEREUM TR ETF 0.3%

Value $317K Shares 20,000 Est. Cost $22.43 Unrealized —

AEM AGNICO EAGLE MINES LTD 0.2%

Value $242K Shares 1,190 Est. Cost $167.85 Unrealized —

ETHA ISHARES ETHEREUM TR ETF 0.2%

Value $239K Shares 20,000 Est. Cost $22.43 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.2%

Value $208K Shares 6,000 Est. Cost $407.06 Unrealized —

MAIN MAIN STREET CAPITAL CORP 0.1%

Value $159K Shares 3,000 Est. Cost $58.96 Unrealized —

ARCC ARES CAPITAL CORP 0.1%

Value $108K Shares 6,000 Est. Cost $19.79 Unrealized —

VLTO VERALTO CORP 0.1%

Value $94,256 Shares 1,066 Est. Cost $101.01 Unrealized —

MO ALTRIA GROUP INC 0.1%

Value $92,386 Shares 1,400 Est. Cost $59.36 Unrealized —

FNV FRANCO-NEVADA CORP 0.1%

Value $81,279 Shares 329 Est. Cost $202.79 Unrealized —

RGLD ROYAL GOLD INC 0.1%

Value $78,383 Shares 308 Est. Cost $198.37 Unrealized —

OBDC BLUE OWL CAPITAL CORP 0.1%

Value $77,420 Shares 7,000 Est. Cost $12.35 Unrealized —

TSLX SIXTH STREET SPECIALTY LENDING 0.1%

Value $73,520 Shares 4,000 Est. Cost $21.81 Unrealized —

SA SEABRIDGE GOLD INC 0.1%

Value $66,401 Shares 2,343 Est. Cost $26.29 Unrealized —

SPY SPDR S&P 500 ETF 0.1%

Value $65,034 Shares 100 Est. Cost $681.92 Unrealized —

BXSL BLACKSTONE SECURED LENDING FUND 0.0%

Value $47,380 Shares 2,000 Est. Cost $26.09 Unrealized —

GBDC GOLUB CAPITAL BDC INC 0.0%

Value $35,448 Shares 2,800 Est. Cost $13.54 Unrealized —

CNR CORE NATURAL RESOURCES INC 0.0%

Value $3,456 Shares 33 Est. Cost $85.17 Unrealized —

TENX TENAX THERAPEUTICS INC 0.0%

Value $16 Shares 1 Est. Cost $8.70 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AGX	ARGAN INC	4,393	$2.393M	2.1%	$370.57	—	—	04010E109
VRT	VERTIV HOLDINGS LLC	7,590	$1.902M	1.7%	$173.58	—	—	92537N108
LITE	LUMENTUM HOLDINGS INC	2,547	$1.79M	1.6%	$467.14	—	—	55024U109
PPLT	ABRDN PLATINUM ETF	6,757	$1.204M	1.0%	$178.23	—	—	003260106
IBIT	ISHARES BITCOIN TR ETF	19,500	$749K	0.7%	$49.65	—	—	46438F101
ETHA	ISHARES ETHEREUM TR ETF	20,000	$317K	0.3%	$22.43	—	—	46438R105
AEM	AGNICO EAGLE MINES LTD	1,190	$242K	0.2%	$167.85	—	—	008474108
ETHA	ISHARES ETHEREUM TR ETF	20,000	$239K	0.2%	$22.43	—	PUT	46438R105
AMD	ADVANCED MICRO DEVICES INC	6,000	$208K	0.2%	$407.06	—	PUT	007903107
MAIN	MAIN STREET CAPITAL CORP	3,000	$159K	0.1%	$58.96	—	—	56035L104
ARCC	ARES CAPITAL CORP	6,000	$108K	0.1%	$19.79	—	—	04010L103
VLTO	VERALTO CORP	1,066	$94,256	0.1%	$101.01	—	—	92338C103
MO	ALTRIA GROUP INC	1,400	$92,386	0.1%	$59.36	—	—	02209S103
FNV	FRANCO-NEVADA CORP	329	$81,279	0.1%	$202.79	—	—	351858105
RGLD	ROYAL GOLD INC	308	$78,383	0.1%	$198.37	—	—	780287108
OBDC	BLUE OWL CAPITAL CORP	7,000	$77,420	0.1%	$12.35	—	—	69121K104
TSLX	SIXTH STREET SPECIALTY LENDING	4,000	$73,520	0.1%	$21.81	—	—	83012A109
SA	SEABRIDGE GOLD INC	2,343	$66,401	0.1%	$26.29	—	—	811916105
SPY	SPDR S&P 500 ETF	100	$65,034	0.1%	$681.92	—	—	78462F103
BXSL	BLACKSTONE SECURED LENDING FUND	2,000	$47,380	0.0%	$26.09	—	—	09261X102
GBDC	GOLUB CAPITAL BDC INC	2,800	$35,448	0.0%	$13.54	—	—	38173M102
CNR	CORE NATURAL RESOURCES INC	33	$3,456	0.0%	$85.17	—	—	218937100
TENX	TENAX THERAPEUTICS INC	1	$16	0.0%	$8.70	—	—	88032L605

Decreased Positions (1)

XBI SPDR SER TR SPDR S&P BIOTECH ETF 3.4%

Value $3.883M (+14.7%) Shares 24,537 (-7.4%) Est. Cost $127.73 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XBI	SPDR SER TR SPDR S&P BIOTECH ETF	24,537 (-7.4%)	$3.883M (+14.7%)	3.4%	$127.73	—	SHS BEN INT	78464A870

Unchanged Positions (31)

SMH VANECK ETF TR SEMICONDUCTOR ETF 4.7%

Value $5.387M Shares 8,214 Est. Cost $360.13 Unrealized —

AAPL APPLE INC 8.1%

Value $9.292M Shares 32,111 Est. Cost $266.86 Unrealized —

CSCO CISCO SYSTEMS INC 2.5%

Value $2.937M Shares 25,000 Est. Cost $73.79 Unrealized —

GOOGL ALPHABET INC 4.2%

Value $4.827M Shares 13,506 Est. Cost $323.29 Unrealized —

GLD SPDR GOLD TRUST 3.2%

Value $3.67M Shares 9,963 Est. Cost $419.96 Unrealized —

AXP AMERICAN EXPRESS CO 5.1%

Value $5.828M Shares 17,231 Est. Cost $356.68 Unrealized —

AMZN AMAZON COM INC 3.1%

Value $3.597M Shares 15,093 Est. Cost $227.61 Unrealized —

WRB BERKLEY W R CORP 6.5%

Value $7.499M Shares 106,321 Est. Cost $70.70 Unrealized —

SLV ISHARES SILVER TRUST 1.3%

Value $1.552M Shares 29,018 Est. Cost $68.14 Unrealized —

CEF SPROTT PHYSICAL GOLD & SILVER TR 1.7%

Value $2.011M Shares 50,000 Est. Cost $45.80 Unrealized —

NVDA NVIDIA CORP 2.1%

Value $2.425M Shares 12,118 Est. Cost $186.13 Unrealized —

VOO VANGUARD INDEX FDS 1.8%

Value $2.06M Shares 3,000 Est. Cost $627.13 Unrealized —

PKW INVESCO EXCHANGE TRADED FD TR BUYBACK ACHIEVERS ETF 3.1%

Value $3.542M Shares 25,000 Est. Cost $134.32 Unrealized —

V VISA INC 1.3%

Value $1.475M Shares 4,300 Est. Cost $340.38 Unrealized —

UNP UNION PACIFIC CORP 1.4%

Value $1.578M Shares 5,800 Est. Cost $227.32 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC 3.3%

Value $3.744M Shares 5 Est. Cost $746423.56 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC 3.0%

Value $3.499M Shares 6,992 Est. Cost $494.92 Unrealized —

VTI VANGUARD INDEX FDS TOTAL STOCK MKT ETF 0.9%

Value $1.073M Shares 2,900 Est. Cost $335.27 Unrealized —

ABBV ABBVIE INC 0.7%

Value $830K Shares 3,300 Est. Cost $227.54 Unrealized —

MA MASTERCARD INC 3.3%

Value $3.767M Shares 7,335 Est. Cost $548.22 Unrealized —

IHI ISHARES TR US MEDICAL DEVICES ETF 1.0%

Value $1.14M Shares 23,063 Est. Cost $62.15 Unrealized —

MSFT MICROSOFT CORP 6.9%

Value $7.98M Shares 21,393 Est. Cost $471.62 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 2.3%

Value $2.628M Shares 5,241 Est. Cost $571.72 Unrealized —

META META PLATFORMS INC 1.7%

Value $1.966M Shares 3,491 Est. Cost $655.57 Unrealized —

JNJ JOHNSON & JOHNSON 0.6%

Value $635K Shares 2,500 Est. Cost $197.01 Unrealized —

IEF ISHARES TR 7-10 YR TREASURY BD ETF 1.6%

Value $1.895M Shares 20,034 Est. Cost $96.16 Unrealized —

USMV ISHARES TR MSCI USA MIN VOL FACTOR ETF 0.3%

Value $348K Shares 3,605 Est. Cost $94.16 Unrealized —

— WESTERN ASSET EMERGING MKTS DEBT FD 0.1%

Value $129K Shares 12,000 Est. Cost $10.63 Unrealized —

— NUVEEN AMT-FREE QUALITY MUNI INCOME FD 0.2%

Value $181K Shares 15,425 Est. Cost $11.63 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS SHORT TERM CORP BD ETF 2.1%

Value $2.371M Shares 30,000 Est. Cost $79.73 Unrealized —

TLT ISHARES TR 20 PLUS YR TREASURY BD ETF 0.8%

Value $898K Shares 10,387 Est. Cost $87.16 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SMH	VANECK ETF TR SEMICONDUCTOR ETF	8,214	$5.387M	4.7%	$360.13	—	SHS BEN INT	92189F676
AAPL	APPLE INC	32,111	$9.292M	8.1%	$266.86	—	COM	037833100
CSCO	CISCO SYSTEMS INC	25,000	$2.937M	2.5%	$73.79	—	COM	17275R102
GOOGL	ALPHABET INC	13,506	$4.827M	4.2%	$323.29	—	COM	02079K305
GLD	SPDR GOLD TRUST	9,963	$3.67M	3.2%	$419.96	—	SHS BEN INT	78463V107
AXP	AMERICAN EXPRESS CO	17,231	$5.828M	5.1%	$356.68	—	COM	025816109
AMZN	AMAZON COM INC	15,093	$3.597M	3.1%	$227.61	—	COM	023135106
WRB	BERKLEY W R CORP	106,321	$7.499M	6.5%	$70.70	—	COM	084423102
SLV	ISHARES SILVER TRUST	29,018	$1.552M	1.3%	$68.14	—	SHS BEN INT	46428Q109
CEF	SPROTT PHYSICAL GOLD & SILVER TR	50,000	$2.011M	1.7%	$45.80	—	COM	85208R101
NVDA	NVIDIA CORP	12,118	$2.425M	2.1%	$186.13	—	COM	67066G104
VOO	VANGUARD INDEX FDS	3,000	$2.06M	1.8%	$627.13	—	SHS BEN INT	922908363
PKW	INVESCO EXCHANGE TRADED FD TR BUYBACK ACHIEVERS ETF	25,000	$3.542M	3.1%	$134.32	—	SHS BEN INT	46137V308
V	VISA INC	4,300	$1.475M	1.3%	$340.38	—	COM	92826C839
UNP	UNION PACIFIC CORP	5,800	$1.578M	1.4%	$227.32	—	COM	907818108
BRK/A	BERKSHIRE HATHAWAY INC	5	$3.744M	3.3%	$746423.56	—	CL A COM	084670108
BRK/B	BERKSHIRE HATHAWAY INC	6,992	$3.499M	3.0%	$494.92	—	CL B COM	084670702
VTI	VANGUARD INDEX FDS TOTAL STOCK MKT ETF	2,900	$1.073M	0.9%	$335.27	—	SHS BEN INT	922908769
ABBV	ABBVIE INC	3,300	$830K	0.7%	$227.54	—	COM	00287Y109
MA	MASTERCARD INC	7,335	$3.767M	3.3%	$548.22	—	COM	57636Q104
IHI	ISHARES TR US MEDICAL DEVICES ETF	23,063	$1.14M	1.0%	$62.15	—	SHS BEN INT	464288810
MSFT	MICROSOFT CORP	21,393	$7.98M	6.9%	$471.62	—	COM	594918104
TMO	THERMO FISHER SCIENTIFIC INC	5,241	$2.628M	2.3%	$571.72	—	COM	883556102
META	META PLATFORMS INC	3,491	$1.966M	1.7%	$655.57	—	COM	30303M102
JNJ	JOHNSON & JOHNSON	2,500	$635K	0.6%	$197.01	—	COM	478160104
IEF	ISHARES TR 7-10 YR TREASURY BD ETF	20,034	$1.895M	1.6%	$96.16	—	SHS BEN INT	464287440
USMV	ISHARES TR MSCI USA MIN VOL FACTOR ETF	3,605	$348K	0.3%	$94.16	—	SHS BEN INT	46429B697
—	WESTERN ASSET EMERGING MKTS DEBT FD	12,000	$129K	0.1%	$10.63	—	COM	95766A101
—	NUVEEN AMT-FREE QUALITY MUNI INCOME FD	15,425	$181K	0.2%	$11.63	—	COM	670657105
VCSH	VANGUARD SCOTTSDALE FDS SHORT TERM CORP BD ETF	30,000	$2.371M	2.1%	$79.73	—	SHS BEN INT	92206C409
TLT	ISHARES TR 20 PLUS YR TREASURY BD ETF	10,387	$898K	0.8%	$87.16	—	SHS BEN INT	464287432