# EDGAR Filing Document

**Accession Number:** 0000745338
**File Stem:** 0001193125-25-243167
**Filing Date:** 2025-10
**Character Count:** 25046
**Document Hash:** ff6a14540faa44db0682aee563692403
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-243167.hdr.sgml**: 20251020

**ACCESSION NUMBER**: 0001193125-25-243167

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251020

**DATE AS OF CHANGE**: 20251020

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OCM MUTUAL FUND
- **CENTRAL INDEX KEY:** 0000745338

**ORGANIZATION NAME:**
- **EIN:** 226444024
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04010
- **FILM NUMBER:** 251402623

**BUSINESS ADDRESS:**
- **STREET 1:** 2600 KITTY HAWK ROAD
- **STREET 2:** SUITE 119
- **CITY:** LIVERMORE
- **STATE:** CA
- **ZIP:** 94551
- **BUSINESS PHONE:** 414-299-2000

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 W. GALENA ST.
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212-3948

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PIA MUTUAL FUND
- **DATE OF NAME CHANGE:** 20030402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONTEREY MUTUAL FUND
- **DATE OF NAME CHANGE:** 19970325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONITREND MUTUAL FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### OCM MUTUAL FUND (Series ID: S000005294)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000014470 | OCM Gold Fund - Investor Class | OCMGX           |
| C000101831 | OCM Gold Fund - Atlas Class    | OCMAX           |

## Nport-Ex

**OCM GOLD FUND**

**Schedule of Investments - August 31, 2025**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| Shares |  |  | Value |
|  | **COMMON STOCKS** | **93.1%** |  |
|  | **Major Gold Producers** | **22.1%** |  |
| 65000 | Agnico Eagle Mines Ltd. |  | $9371050 |
| 105000 | AngloGold Ashanti PLC |  | 5949300 |
| 200000 | Barrick Mining Corp. |  | 5326000 |
| 118670 | Endeavour Mining PLC |  | 4125886 |
| 85000 | Newmont Corp. |  | 6324000 |
|  |  |  | **31096236** |
|  | **Intermediate/Mid-Tier Gold Producers** | **31.0%** |  |
| 290000 | Alamos Gold, Inc. |  | 8830500 |
| 133333 | Allied Gold Corp.\* |  | 1868841 |
| 300000 | B2Gold Corp. |  | 1239000 |
| 500000 | B2Gold Corp.^ |  | 2064220 |
| 75000 | Centerra Gold, Inc. |  | 612750 |
| 250000 | Dundee Precious Metals, Inc. |  | 4634484 |
| 225000 | Fortuna Mining Corp.\* |  | 1734928 |
| 637501 | Greatland Resources Ltd.\* |  | 2291868 |
| 100000 | IAMGOLD Corp.\* |  | 931000 |
| 130000 | Lundin Gold, Inc. |  | 7993665 |
| 166667 | OceanaGold Corp. |  | 3045969 |
| 70000 | Pan American Silver Corp. |  | 2374400 |
| 800000 | Perseus Mining Ltd. |  | 1979058 |
| 100000 | SSR Mining, Inc.\* |  | 1931000 |
| 600000 | West African Resources Ltd.\* |  | 1193717 |
| 600000 | Westgold Resources Ltd. |  | 1350785 |
|  |  |  | **44076185** |
|  | **Junior Gold Producers** | **18.6%** |  |
| 1250000 | Catalyst Metals Ltd.\* |  | 5930956 |
| 150000 | Discovery Silver Corp.\* |  | 477283 |
| 1250000 | Emerald Resources N.L.\* |  | 3092278 |
| 62500 | G Mining Ventures Corp.\* |  | 936999 |
| 300000 | Heliostar Metals Ltd.\* |  | 338576 |
| 1700000 | Jaguar Mining, Inc.\* |  | 6040484 |
| 175000 | K92 Mining, Inc.\* |  | 1973751 |
| 500000 | Orezone Gold Corp.\* |  | 415028 |
| 900000 | Thor Explorations Ltd. |  | 753604 |
| 415000 | Wesdome Gold Mines Ltd.\* |  | 5508555 |
|  |  |  | **25467514** |
|  | **Exploration and Development Companies** | **11.0%** |  |
| 350000 | Angel Wing Metals, Inc.\* |  | 12742 |
| 1166666 | Ausgold Ltd.\* |  | 648996 |

---

---

| | | | |
|:---|:---|:---|:---|
| Shares |  |  | Value |
| 250000 | G2 Goldfields, Inc.\* |  | $566113 |
| 875000 | Liberty Gold Corp.\* |  | 315367 |
| 1228000 | Mithril Silver And Gold Ltd.\* |  | 482831 |
| 616500 | Montage Gold Corp.\* |  | 2459895 |
| 734108 | NeXGold Mining Corp.\* |  | 604006 |
| 5000000 | Omai Gold Mines Corp.\* |  | 3349352 |
| 325000 | Probe Gold, Inc.\* |  | 638925 |
| 2758000 | Rio2 Ltd.\* |  | 3654842 |
| 209004 | Robex Resources, Inc.\* |  | 506096 |
| 2399000 | Royal Road Minerals Ltd.\* |  | 227079 |
| 4578755 | RTG Mining, Inc.\* |  | 83904 |
| 1860466 | Saturn Metals Ltd.\* |  | 523561 |
| 300000 | Thesis Gold, Inc.\* |  | 310179 |
| 200000 | Vizsla Silver Corp.\* |  | 734000 |
| 1600000 | WIA Gold Ltd.\* |  | 335079 |
|  |  |  | **15452967** |
|  | **Royalty/Streaming Companies** | **5.9%** |  |
| 100000 | Vizsla Royalties Corp.\* |  | 206786 |
| 80000 | Wheaton Precious Metals Corp. |  | 8033785 |
|  |  |  | **8240571** |
|  | **Primary Silver Producers** | **4.5%** |  |
| 644400 | Aya Gold & Silver, Inc.\* |  | **6404587** |
|  | **Total Common Stocks** |  |  |
|  | (Cost $35,005,200) |  | **130738060** |
|  | **WARRANTS** | **0.0%** |  |
|  | **Exploration and Development Companies** | **0.0%** |  |
| 367054 | NeXGold Mining Corp. Exercise Price 0.95 CAD, Exp. 12/16/2026 |  | 48106 |
|  |  |  | **48106** |
|  | **Total Warrants** |  |  |
|  | (Cost $0) |  | **48106** |
|  | **SHORT-TERM INVESTMENT** | **6.7%** |  |
| 9370017 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 4.19%<sup>#</sup> |  | 9370017 |
|  | **Total Short-Term Investment** |  |  |
|  | (Cost $9,370,017) |  | **9370017** |
|  | **Total Investments** | **99.8%** |  |
|  | (Cost $44,375,217) |  | **140156183** |
|  | **Assets less Other Liabilities** | **0.2%** | **212445** |
|  | **TOTAL NET ASSETS** | **100.0%** | $**140368628** |

---

PLC – Public Limited Company <br> CAD – Canadian Dollars

\* Non-income producing security. <br> ^ Denoted investment is a Canadian security traded on U.S. stock exchange. <br> # The rate is the annualized seven-day yield at period end.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** OCM MUTUAL FUND

- **b. Investment Company Act file number:** 811-04010

- **c. CIK number of Registrant:** 0000745338

- **d. LEI of Registrant:** 549300AKSS68PWZOHM90

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2600 Kitty Hawk Rd

  - **City:** Livermore

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94551

  - **Telephone number:** 8007794681

**Item A.2. Information about the Series.**

- **a. Name of Series:** OCM MUTUAL FUND

- **b. EDGAR series identifier (if any):** S000005294

- **c. LEI of Series:** 5493007254B8R9O2U456

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $140343886.42

**Total Liabilities:** $226832.47

**Net Assets:** $140117053.95

**Cash Not Reported:** $237250.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000014470 | 2.81%                | -2.94%               | 20.85%               |
| Class ID C000101831 | 2.80%                | -2.91%               | 20.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $364.05                  | $2914341.25                                |
| Month 2  | $18291.25                | $-3402368.40                               |
| Month 3  | $6849.76                 | $23813871.84                               |

### Schedule of Portfolio Investments

| Name                              | Title                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| G2 Goldfields Inc                 | G2 Goldfields, Inc.               | CUSIP: 36256R105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    250000 | NS      | $566113.30    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Heliostar Metals Ltd              | Heliostar Metals Ltd.             | CUSIP: 42328Y102<br>LEI: 529900BF6RCFL9WNSB18 | Long             | EC               | CORP              | CA        |    300000 | NS      | $338575.80    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                      | IAMGOLD Corp.                     | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    100000 | NS      | $931000.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Jaguar Mining Inc                 | Jaguar Mining, Inc.               | CUSIP: 47009M889<br>LEI: 549300IRKN0GXIRGS617 | Long             | EC               | CORP              | CA        |   1700000 | NS      | $6040483.47   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Gold Corp                  | Allied Gold Corp.                 | CUSIP: 01921D204<br>LEI: 894500S5G4JFSRGK8L37 | Long             | EC               | CORP              | CA        |    133333 | NS      | $1868841.31   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd            | Agnico Eagle Mines Ltd.           | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     65000 | NS      | $9371050.00   | 6.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                   | Alamos Gold, Inc.                 | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |    290000 | NS      | $8830500.00   | 6.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc             | Anglogold Ashanti Plc             | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |    105000 | NS      | $5949300.00   | 4.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ausgold Ltd                       | Ausgold Ltd.                      | CUSIP: Q07063102<br>LEI: 894500N1FW604CKRQQ71 | Long             | EC               | CORP              | AU        |   1166666 | NS      | $648996.14    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Wing Metals Inc             | Angel Wing Metals, Inc.           | CUSIP: 03464G206<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    350000 | NS      | $12742.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc             | Aya Gold & Silver, Inc.           | CUSIP: 05466C109<br>LEI: 549300BWX8KJOTUL4M51 | Long             | EC               | CORP              | CA        |    644400 | NS      | $6404587.16   | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp               | Barrick Mining Corp.              | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    200000 | NS      | $5326000.00   | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                       | B2Gold Corp.                      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    300000 | NS      | $1239000.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                       | B2Gold Corp.                      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    500000 | NS      | $2064220.18   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc                 | Centerra Gold, Inc.               | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |     75000 | NS      | $612750.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd               | Catalyst Metals Ltd.              | CUSIP: Q2144G109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1250000 | NS      | $5930955.50   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dundee Precious Metals Inc        | Dundee Precious Metals, Inc.      | CUSIP: 265269209<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    250000 | NS      | $4634483.76   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Silver Corp             | Discovery Silver Corp.            | CUSIP: 254677107<br>LEI: 98450041CCB3E8QD3F53 | Long             | EC               | CORP              | CA        |    150000 | NS      | $477282.66    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining PLC              | Endeavour Mining PLC              | CUSIP: G3042J105<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |    118670 | NS      | $4125886.49   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerald Resources NL              | Emerald Resources NL              | CUSIP: Q3464L108<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1250000 | NS      | $3092277.49   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortuna Mining Corp               | Fortuna Mining Corp.              | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |    225000 | NS      | $1734927.92   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Greatland Resources Ltd           | Greatland Resources Ltd.          | CUSIP: Q4319F106<br>LEI: 213800KMN7LDF4VRPQ10 | Long             | EC               | CORP              | AU        |    637501 | NS      | $2291867.54   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| G Mining Ventures Corp            | G Mining Ventures Corp.           | CUSIP: 36270K102<br>LEI: 894500N5AZEQU0BLOT06 | Long             | EC               | CORP              | CA        |     62500 | NS      | $936999.42    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                    | K92 Mining, Inc.                  | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    175000 | NS      | $1973751.27   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Gold Corp                 | Liberty Gold Corp.                | CUSIP: 53056H104<br>LEI: 549300DY25855R7ZV117 | Long             | EC               | CORP              | CA        |    875000 | NS      | $315366.97    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                   | Lundin Gold, Inc.                 | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |    130000 | NS      | $7993665.36   | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Gold Corp                 | Montage Gold Corp.                | CUSIP: 61178L101<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    616500 | NS      | $2459895.15   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Mithril Silver And Gold Ltd       | Mithril Silver And Gold Ltd.      | CUSIP: Q6253U106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1228000 | NS      | $482830.93    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                      | Newmont Corp.                     | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     85000 | NS      | $6324000.00   | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NeXGold Mining Corp               | NeXGold Mining Corp.              | CUSIP: 65345V108<br>LEI: 25490084LOPPDXN4YK38 | Long             | EC               | CORP              | CA        |    734108 | NS      | $604006.28    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXGOLD MINING Corp. WARRANTS   / | NEXGOLD MINING Corp. WARRANTS   / | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               | CORP              | CA        |    367054 | NC      | $48106.68     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| OceanaGold Corp                   | OceanaGold Corp.                  | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |    166667 | NS      | $3045968.65   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Omai Gold Mines Corp              | Omai Gold Mines Corp.             | CUSIP: 682043104<br>LEI: 254900GOHPZOKN6K3C88 | Long             | EC               | CORP              | CA        |   5000000 | NS      | $3349351.97   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Orezone Gold Corp                 | Orezone Gold Corp.                | CUSIP: 68616T109<br>LEI: 529900ZRY6WGGRC9Z698 | Long             | EC               | CORP              | CA        |    500000 | NS      | $415028.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp          | Pan American Silver Corp.         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     70000 | NS      | $2374400.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Probe Gold Inc                    | Probe Gold, Inc.                  | CUSIP: 74290F100<br>LEI: 549300KN4JVFBY70QS60 | Long             | EC               | CORP              | CA        |    325000 | NS      | $638925.29    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Perseus Mining Ltd                | Perseus Mining Ltd.               | CUSIP: Q74174105<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |    800000 | NS      | $1979057.59   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio2 Ltd                          | Rio2 Ltd.                         | CUSIP: 767217102<br>LEI: 2549009N9W290I0XSE73 | Long             | EC               | CORP              | CA        |   2758000 | NS      | $3654842.00   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| RTG Mining Inc                    | RTG Mining, Inc.                  | CUSIP: G7707W178<br>LEI: N/A                  | Long             |  | CORP              | AU        |   4578755 | NS      | $83903.89     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Robex Resources Inc               | Robex Resources, Inc.             | CUSIP: 999999999<br>LEI: 529900UBILRW1I57HF58 | Long             |  | CORP              | CA        |    209004 | NS      | $506096.07    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Road Minerals Ltd           | Royal Road Minerals Ltd.          | CUSIP: G76828105<br>LEI: 54930033JDODZL6J2G22 | Long             | EC               | CORP              | JE        |   2399000 | NS      | $227078.78    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET II SPECIAL   /   | UMB MONEY MARKET II SPECIAL   /   | CUSIP: SF8888628<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   9132767 | PA      | $9132766.51   | 6.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                    | SSR Mining, Inc.                  | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | US        |    100000 | NS      | $1931000.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Saturn Metals Ltd                 | Saturn Metals Ltd.                | CUSIP: Q8317P107<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1860466 | NS      | $523560.46    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Thesis Gold Inc                   | Thesis Gold, Inc.                 | CUSIP: 883930109<br>LEI: 529900EDQ993Q6M6BH62 | Long             | EC               | CORP              | CA        |    300000 | NS      | $310179.12    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Explorations Ltd             | Thor Explorations Ltd.            | CUSIP: 885149104<br>LEI: 213800AXZ8468CQYVT76 | Long             | EC               | CORP              | CA        |    900000 | NS      | $753604.19    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Royalties Corp             | Vizsla Royalties Corp.            | CUSIP: 92859L201<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    100000 | NS      | $206786.08    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Silver Corp                | Vizsla Silver Corp.               | CUSIP: 92859G608<br>LEI: 549300ADJF7HWIEDL366 | Long             | EC               | CORP              | CA        |    200000 | NS      | $734000.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| West African Resources Ltd        | West African Resources Ltd.       | CUSIP: Q9594D106<br>LEI: 529900XLO8GMJNTUL013 | Long             | EC               | CORP              | AU        |    600000 | NS      | $1193717.28   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesdome Gold Mines Ltd            | Wesdome Gold Mines Ltd.           | CUSIP: 95083R100<br>LEI: 254900D63U62QS84H719 | Long             | EC               | CORP              | CA        |    415000 | NS      | $5508555.41   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Westgold Resources Ltd            | Westgold Resources Ltd.           | CUSIP: Q97159232<br>LEI: 2549003AMX9BL7CKBQ74 | Long             | EC               | CORP              | AU        |    600000 | NS      | $1350785.34   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| WIA Gold Ltd                      | WIA Gold Ltd.                     | CUSIP: Q8844P109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1600000 | NS      | $335078.53    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp      | Wheaton Precious Metals Corp.     | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     80000 | NS      | $8033784.77   | 5.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-05

**Name of Applicant:** OCM MUTUAL FUND

**Signature:** /s/ Gregory M. Orrell

**Name of Signer:** Gregory M. Orrell

**Title:** President