# EDGAR Filing Document

**Accession Number:** 0001020317
**File Stem:** 0001020317-26-000001
**Filing Date:** 2026-1
**Character Count:** 54609
**Document Hash:** 0ad00d45050cca713f73ae60ee3d80ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001020317-26-000001.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001020317-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**EFFECTIVENESS DATE**: 20260130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pekin Hardy Strauss, Inc.
- **CENTRAL INDEX KEY:** 0001020317

**ORGANIZATION NAME:**
- **EIN:** 363667359
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05740
- **FILM NUMBER:** 26581484

**BUSINESS ADDRESS:**
- **STREET 1:** 227 W. MONROE
- **STREET 2:** SUITE 3625
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-896-9668

**MAIL ADDRESS:**
- **STREET 1:** 227 W. MONROE
- **STREET 2:** SUITE 3625
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PEKIN SINGER STRAUSS ASSET MANAGEMENT /IL
- **DATE OF NAME CHANGE:** 20060117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Pekin Singer Strauss Asset Management Inc.
- **DATE OF NAME CHANGE:** 20060117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PEKIN SINGER & SHAPIRO ASSET MANAGEMENT /IL
- **DATE OF NAME CHANGE:** 19990324

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Pekin Hardy Strauss Inc.<br>**Address:** 227 W. MONROE<br>SUITE 3625<br>CHICAGO, IL 60606

**Form 13F File Number:** 028-05740

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jennifer Dunlap<br>**Title:** Chief Compliance Officer<br>**Phone:** 312-554-7525

**Signature, Place, and Date of Signing:**

/s/ Jennifer Dunlap  Chicago, IL  01-30-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 454

**Form 13F Information Table Value Total:** $1081763347

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABS | COM | 002824100 | BBG001S5N9M6 | 1900775 | 15171 | SH |  | SOLE |  | 0 | 0 | 15171 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 6949311 | 30414 | SH |  | SOLE |  | 0 | 0 | 30414 |
| ABRDN ASIA PACIFIC INCOME FU | COM NEW | 003009867 | BBG001S5R1L0 | 183374 | 11954 | SH |  | SOLE |  | 0 | 0 | 11954 |
| ABRDN ETFS | BBRG ALL COMD K1 | 003261104 | BBG00G9CFDS3 | 679390 | 34787 | SH |  | SOLE |  | 0 | 0 | 34787 |
| ABRDN PALLADIUM ETF TRUST | PHYSICAL PALLADM | 003262102 | BBG001T6GDX0 | 890452 | 6125 | SH |  | SOLE |  | 0 | 0 | 6125 |
| ABRDN PLATINUM ETF TRUST | PHYSCL PLATM SHS | 003260106 | BBG001T6GDY9 | 11861609 | 63625 | SH |  | SOLE |  | 0 | 0 | 63625 |
| ABRDN SILVER ETF TRUST | PHYSCL SILVR SHS | 003264108 | BBG001T56K58 | 726251 | 10737 | SH |  | SOLE |  | 0 | 0 | 10737 |
| ACACIA RESH CORP | ACACIA TCH COM | 003881307 | BBG001SJLJT9 | 37400 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| ADOBE INC | COM | 00724F101 | BBG001S5NCQ5 | 2728522 | 7796 | SH |  | SOLE |  | 0 | 0 | 7796 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 | BBG001S5NN36 | 1560156 | 7285 | SH |  | SOLE |  | 0 | 0 | 7285 |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 | BBG00X28J8Y2 | 307815 | 65215 | SH |  | SOLE |  | 0 | 0 | 65215 |
| AERCAP HOLDINGS NV | SHS | N00985106 | BBG001SNX4Y4 | 9654203 | 67155 | SH |  | SOLE |  | 0 | 0 | 67155 |
| AEROVIRONMENT INC | COM | 008073108 | BBG001SPPWP6 | 480152 | 1985 | SH |  | SOLE |  | 0 | 0 | 1985 |
| AGNC INVT CORP | COM | 00123Q104 | BBG001T074G2 | 7464337 | 696300 | SH |  | SOLE |  | 0 | 0 | 696300 |
| AGNICO EAGLE MINES LTD | COM | 008474108 | BBG001S77MK3 | 13933696 | 82190 | SH |  | SOLE |  | 0 | 0 | 82190 |
| ALAMOS GOLD INC NEW | COM CL A | 011532108 | BBG009HT65S0 | 10788994 | 279008 | SH |  | SOLE |  | 0 | 0 | 279008 |
| ALCOA CORP | COM | 013872106 | BBG00B3T3HF1 | 499535 | 9400 | SH |  | SOLE |  | 0 | 0 | 9400 |
| ALEXANDER  BALDWIN INC NEW | COM | 014491104 | BBG00HS2GVM7 | 3257797 | 157839 | SH |  | SOLE |  | 0 | 0 | 157839 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 3273864 | 22335 | SH |  | SOLE |  | 0 | 0 | 22335 |
| ALLIANCE RESOURCE PARTNERS L | UT LTD PART | 01877R108 | BBG001SD52Y1 | 1489159 | 64105 | SH |  | SOLE |  | 0 | 0 | 64105 |
| ALLIANCEBERNSTEIN HLDG L P | UNIT LTD PARTN | 01881G106 | BBG001S5N9S0 | 238730 | 6204 | SH |  | SOLE |  | 0 | 0 | 6204 |
| ALLSTATE CORP | COM | 020002101 | BBG001S9BM06 | 891506 | 4283 | SH |  | SOLE |  | 0 | 0 | 4283 |
| ALMONTY INDS INC | COM NEW | 020398707 | BBG001T7CS41 | 251862 | 28600 | SH |  | SOLE |  | 0 | 0 | 28600 |
| ALPHA METALLURGICAL RESOUR I | COM | 020764106 | BBG00DGWV044 | 344793 | 1725 | SH |  | SOLE |  | 0 | 0 | 1725 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 14565239 | 46534 | SH |  | SOLE |  | 0 | 0 | 46534 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 12999503 | 41426 | SH |  | SOLE |  | 0 | 0 | 41426 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 | BBG001TBMNT5 | 2486700 | 52886 | SH |  | SOLE |  | 0 | 0 | 52886 |
| ALTRIA GROUP INC | COM | 02209S103 | BBG001S5T8T5 | 3133928 | 54352 | SH |  | SOLE |  | 0 | 0 | 54352 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 6726095 | 29140 | SH |  | SOLE |  | 0 | 0 | 29140 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 | BBG001S5NFD2 | 997316 | 8649 | SH |  | SOLE |  | 0 | 0 | 8649 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG001S5P034 | 1130937 | 3057 | SH |  | SOLE |  | 0 | 0 | 3057 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 215370 | 658 | SH |  | SOLE |  | 0 | 0 | 658 |
| AMPLIFY ETF TR | AMPLIFY JUNIOR S | 032108649 | BBG01L6XWL92 | 2055303 | 74279 | SH |  | SOLE |  | 0 | 0 | 74279 |
| AMPLITECH GROUP INC | COM NEW | 03211Q200 | BBG00394F9X3 | 241592 | 80800 | SH |  | SOLE |  | 0 | 0 | 80800 |
| ANFIELD ENERGY INC | COM NEW | 03464C205 | BBG001V114Z2 | 401412 | 78150 | SH |  | SOLE |  | 0 | 0 | 78150 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 | BBG001T53FW2 | 796465 | 12437 | SH |  | SOLE |  | 0 | 0 | 12437 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 | BBG001S8J4S0 | 731247 | 32703 | SH |  | SOLE |  | 0 | 0 | 32703 |
| ANTERO MIDSTREAM CORP | COM | 03676B102 | BBG00GBNZ4N9 | 1138560 | 64000 | SH |  | SOLE |  | 0 | 0 | 64000 |
| ANTERO RESOURCES CORP | COM | 03674X106 | BBG001T61KH8 | 7192457 | 208719 | SH |  | SOLE |  | 0 | 0 | 208719 |
| AON PLC | SHS CL A | G0403H108 | BBG00SSQFPR9 | 1276014 | 3616 | SH |  | SOLE |  | 0 | 0 | 3616 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 15285116 | 56224 | SH |  | SOLE |  | 0 | 0 | 56224 |
| APPLIED MATLS INC | COM | 038222105 | BBG001S5NMM7 | 250565 | 975 | SH |  | SOLE |  | 0 | 0 | 975 |
| ARDELYX INC | COM | 039697107 | BBG001WH4F33 | 1779491 | 305230 | SH |  | SOLE |  | 0 | 0 | 305230 |
| ARK ETF TR | BLOCKCHAIN  FIN | 00214Q708 | BBG00N7YFKY9 | 334363 | 7020 | SH |  | SOLE |  | 0 | 0 | 7020 |
| ASA GOLD AND PRECIOUS MTLS L | SHS | G3156P103 | BBG001S5NVT0 | 1230395 | 20620 | SH |  | SOLE |  | 0 | 0 | 20620 |
| ASP ISOTOPES INC | COM | 00218A105 | BBG013Y062L0 | 142845 | 26700 | SH |  | SOLE |  | 0 | 0 | 26700 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 | BBG001SB80N8 | 669618 | 7284 | SH |  | SOLE |  | 0 | 0 | 7284 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 504028 | 20291 | SH |  | SOLE |  | 0 | 0 | 20291 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 | BBG001S82KF6 | 366810 | 1426 | SH |  | SOLE |  | 0 | 0 | 1426 |
| AVANTOR INC | COM | 05352A100 | BBG00G2HHYF5 | 424020 | 37000 | SH |  | SOLE |  | 0 | 0 | 37000 |
| AWARE INC MASS | COM | 05453N100 | BBG001S95Q04 | 26825 | 14500 | SH |  | SOLE |  | 0 | 0 | 14500 |
| BABCOCK  WILCOX ENTERPRISES | COM | 05614L209 | BBG007H0TDL2 | 110950 | 17500 | SH |  | SOLE |  | 0 | 0 | 17500 |
| BANCO DE CHILE | SPONSORED ADS | 059520106 | BBG001SF8LP1 | 1950350 | 51325 | SH |  | SOLE |  | 0 | 0 | 51325 |
| BANCO SANTANDER SA | ADR | 05964H105 | BBG001S5WCX7 | 2992578 | 255122 | SH |  | SOLE |  | 0 | 0 | 255122 |
| BANK NEW YORK MELLON CORP | COM | 064058100 | BBG001S5P6Q6 | 1446133 | 12457 | SH |  | SOLE |  | 0 | 0 | 12457 |
| BARCLAYS PLC | ADR | 06738E204 | BBG001S5P2T2 | 736777 | 28950 | SH |  | SOLE |  | 0 | 0 | 28950 |
| BERKLEY W R CORP | COM | 084423102 | BBG001S5P463 | 390919 | 5575 | SH |  | SOLE |  | 0 | 0 | 5575 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 20367881 | 40521 | SH |  | SOLE |  | 0 | 0 | 40521 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 | BBG001S5P5K4 | 203930 | 3378 | SH |  | SOLE |  | 0 | 0 | 3378 |
| BITWISE BITCOIN ETF TR | SHS BEN INT | 09174C104 | BBG01KY66MQ0 | 759771 | 15975 | SH |  | SOLE |  | 0 | 0 | 15975 |
| BLACK STONE MINERALS L P | COM UNIT | 09225M101 | BBG008B5CF38 | 350191 | 26350 | SH |  | SOLE |  | 0 | 0 | 26350 |
| BLACKBOXSTOCKS INC | COM | 09229E303 | BBG007GGHNR3 | 80950 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| BLACKROCK ENHANCED EQUITY DI | COM | 09251A104 | BBG001SK5462 | 206434 | 21776 | SH |  | SOLE |  | 0 | 0 | 21776 |
| BLACKROCK INC | COM | 09290D101 | BBG01PSW2WR0 | 2685483 | 2509 | SH |  | SOLE |  | 0 | 0 | 2509 |
| BLACKROCK MULTI SECTOR INC T | COM | 09258A107 | BBG003P84C70 | 729401 | 55850 | SH |  | SOLE |  | 0 | 0 | 55850 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 1868793 | 12124 | SH |  | SOLE |  | 0 | 0 | 12124 |
| BLACKSTONE MTG TR INC | COM CL A | 09257W100 | BBG001S5Q7V7 | 227322 | 11883 | SH |  | SOLE |  | 0 | 0 | 11883 |
| BLOCK INC | NOTE 0.250%11/0 | 852234AK9 |  | 656395 | 710000 | PRN |  | SOLE |  | 0 | 0 | 710000 |
| BOEING CO | COM | 097023105 | BBG001S5P0V3 | 377789 | 1740 | SH |  | SOLE |  | 0 | 0 | 1740 |
| BORR DRILLING LTD | SHS | G1466R173 | BBG00FJ1SZG8 | 1381282 | 342750 | SH |  | SOLE |  | 0 | 0 | 342750 |
| BP PLC | SPONSORED ADR | 055622104 | BBG001S5W4F5 | 371472 | 10696 | SH |  | SOLE |  | 0 | 0 | 10696 |
| BRIGHTSTAR LOTTERY PLC | SHS USD | G4863A108 | BBG0081VHTQ2 | 185760 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 | BBG001S8N8J6 | 1361068 | 25233 | SH |  | SOLE |  | 0 | 0 | 25233 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 | BBG001S6VV46 | 4394335 | 77611 | SH |  | SOLE |  | 0 | 0 | 77611 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 1614210 | 4664 | SH |  | SOLE |  | 0 | 0 | 4664 |
| BROADWIND INC | COM NEW | 11161T207 | BBG001SKFPL7 | 212250 | 75000 | SH |  | SOLE |  | 0 | 0 | 75000 |
| BROOKFIELD REAL ASSETS INCOM | SHS BEN INT | 112830104 | BBG00FF5CVF0 | 842128 | 64979 | SH |  | SOLE |  | 0 | 0 | 64979 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 | BBG001S9CFC7 | 1307320 | 12706 | SH |  | SOLE |  | 0 | 0 | 12706 |
| BUNGE GLOBAL SA | COM SHS | H11356104 | BBG01JZ8VLC7 | 1372277 | 15405 | SH |  | SOLE |  | 0 | 0 | 15405 |
| CADIZ INC | COM NEW | 127537207 | BBG001S71VF5 | 373065 | 66500 | SH |  | SOLE |  | 0 | 0 | 66500 |
| CAESARS ENTERTAINMENT INC NE | COM | 12769G100 | BBG0074Q3NL5 | 7112735 | 304093 | SH |  | SOLE |  | 0 | 0 | 304093 |
| CAMBRIA ETF TR | GLOBAL VALUE ETF | 132061409 | BBG0064MXCT9 | 597773 | 18995 | SH |  | SOLE |  | 0 | 0 | 18995 |
| CAMECO CORP | COM | 13321L108 | BBG001S5Y5S6 | 18407079 | 201192 | SH |  | SOLE |  | 0 | 0 | 201192 |
| CANADIAN NATL RY CO | COM | 136375102 | BBG001S8WVQ7 | 2535107 | 25646 | SH |  | SOLE |  | 0 | 0 | 25646 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 508437 | 888 | SH |  | SOLE |  | 0 | 0 | 888 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 | BBG001T71BP7 | 2727619 | 10867 | SH |  | SOLE |  | 0 | 0 | 10867 |
| CENTENE CORP DEL | COM | 15135B101 | BBG001S6T7Q8 | 1322479 | 32138 | SH |  | SOLE |  | 0 | 0 | 32138 |
| CF INDS HLDGS INC | COM | 125269100 | BBG001SJ8KV8 | 6611565 | 85487 | SH |  | SOLE |  | 0 | 0 | 85487 |
| CHARLES RIV LABS INTL INC | COM | 159864107 | BBG001S7Q271 | 1788139 | 8964 | SH |  | SOLE |  | 0 | 0 | 8964 |
| CHEMOURS CO | COM | 163851108 | BBG005H82GC1 | 2937514 | 249153 | SH |  | SOLE |  | 0 | 0 | 249153 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 | BBG001S7W158 | 1451754 | 7468 | SH |  | SOLE |  | 0 | 0 | 7468 |
| CHENIERE ENERGY PARTNERS LP | COM UNIT | 16411Q101 | BBG001SSCPS6 | 203224 | 3800 | SH |  | SOLE |  | 0 | 0 | 3800 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 3996723 | 26223 | SH |  | SOLE |  | 0 | 0 | 26223 |
| CHUBB LIMITED | COM | H1467J104 | BBG001S8S1L3 | 1479108 | 4739 | SH |  | SOLE |  | 0 | 0 | 4739 |
| CHURCHILL CAP CORP X | SHS CL A | G2130T108 | BBG01TR9ZK30 | 411840 | 26400 | SH |  | SOLE |  | 0 | 0 | 26400 |
| CITIGROUP INC | COM NEW | 172967424 | BBG001S72ZG4 | 882760 | 7565 | SH |  | SOLE |  | 0 | 0 | 7565 |
| CITIZENS FINL GROUP INC | COM | 174610105 | BBG006Q0HZT0 | 1259915 | 21570 | SH |  | SOLE |  | 0 | 0 | 21570 |
| CLOVER HEALTH INVESTMENTS CO | COM CL A | 18914F103 | BBG00SHY90K3 | 24675 | 10500 | SH |  | SOLE |  | 0 | 0 | 10500 |
| CME GROUP INC | COM | 12572Q105 | BBG001S86547 | 2833056 | 10374 | SH |  | SOLE |  | 0 | 0 | 10374 |
| CNB FINL CORP PA | COM | 126128107 | BBG001S80QZ3 | 473677 | 18100 | SH |  | SOLE |  | 0 | 0 | 18100 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 1909089 | 27308 | SH |  | SOLE |  | 0 | 0 | 27308 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 | BBG001SC5GP2 | 518518 | 24050 | SH |  | SOLE |  | 0 | 0 | 24050 |
| COHEN  STEERS INFRASTRUCTUR | COM | 19248A109 | BBG001SJYNK5 | 364664 | 15125 | SH |  | SOLE |  | 0 | 0 | 15125 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 | BBG00ZGF7799 | 215964 | 955 | SH |  | SOLE |  | 0 | 0 | 955 |
| COMPASS DIVERSIFIED | SH BEN INT | 20451Q104 | BBG001SPY7K6 | 100800 | 21000 | SH |  | SOLE |  | 0 | 0 | 21000 |
| CONAGRA BRANDS INC | COM | 205887102 | BBG001S5PGY5 | 3240068 | 187179 | SH |  | SOLE |  | 0 | 0 | 187179 |
| CONOCOPHILLIPS | COM | 20825C104 | BBG001S5TZM2 | 637578 | 6811 | SH |  | SOLE |  | 0 | 0 | 6811 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 | BBG014KFRPJ9 | 9614596 | 27216 | SH |  | SOLE |  | 0 | 0 | 27216 |
| CORE NATURAL RESOURCES INC | COM SHS | 218937100 | BBG00HC115M9 | 498311 | 5630 | SH |  | SOLE |  | 0 | 0 | 5630 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 | BBG01L5GH1G3 | 145600 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| CORMEDIX INC | COM | 21900C308 | BBG001T6FWS5 | 220970 | 19000 | SH |  | SOLE |  | 0 | 0 | 19000 |
| CORNING INC | COM | 219350105 | BBG001S5RLH1 | 251035 | 2867 | SH |  | SOLE |  | 0 | 0 | 2867 |
| CORPORACION AMER ARPTS S A | COM | L1995B107 | BBG00JFCJ8Z9 | 616590 | 23715 | SH |  | SOLE |  | 0 | 0 | 23715 |
| COSAN S A | ADS | 22113B103 | BBG00YPGPD88 | 256750 | 65000 | SH |  | SOLE |  | 0 | 0 | 65000 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 707119 | 820 | SH |  | SOLE |  | 0 | 0 | 820 |
| COTERRA ENERGY INC | COM | 127097103 | BBG001S6H6Y4 | 696032 | 26445 | SH |  | SOLE |  | 0 | 0 | 26445 |
| COUPANG INC | CL A | 22266T109 | BBG00XMJRPR7 | 563801 | 23900 | SH |  | SOLE |  | 0 | 0 | 23900 |
| CRESUD S A C I F Y A | SPONSORED ADR | 226406106 | BBG001S7XKP3 | 321572 | 25461 | SH |  | SOLE |  | 0 | 0 | 25461 |
| CRH PLC | ORD | G25508105 | BBG001S61NK9 | 357552 | 2865 | SH |  | SOLE |  | 0 | 0 | 2865 |
| CVS HEALTH CORP | COM | 126650100 | BBG001S5QBD8 | 387039 | 4877 | SH |  | SOLE |  | 0 | 0 | 4877 |
| DEVON ENERGY CORP NEW | COM | 25179M103 | BBG001S63VG4 | 9029639 | 246509 | SH |  | SOLE |  | 0 | 0 | 246509 |
| DHT HOLDINGS INC | SHS NEW | Y2065G121 | BBG001SNTT01 | 286935 | 23500 | SH |  | SOLE |  | 0 | 0 | 23500 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 | BBG001S7V596 | 2197852 | 25476 | SH |  | SOLE |  | 0 | 0 | 25476 |
| DIANA SHIPPING INC | COM | Y2066G104 | BBG001SHVZD3 | 3820176 | 2301311 | SH |  | SOLE |  | 175000 | 0 | 2126311 |
| DIMENSIONAL ETF TRUST | INTERNATNAL VAL | 25434V807 | BBG012G21Y06 | 362817 | 7271 | SH |  | SOLE |  | 0 | 0 | 7271 |
| DOLLAR GEN CORP NEW | COM | 256677105 | BBG001T5BM30 | 10667671 | 80347 | SH |  | SOLE |  | 0 | 0 | 80347 |
| DOLLY VARDEN SILVER CORP | COM NO PAR | 256827783 | BBG001V09PG0 | 76609 | 17500 | SH |  | SOLE |  | 0 | 0 | 17500 |
| DOUGLAS ELLIMAN INC | COM | 25961D105 | BBG013ZGQFH8 | 806985 | 340500 | SH |  | SOLE |  | 0 | 0 | 340500 |
| DYADIC INTL INC DEL | COM | 26745T101 | BBG001SJV0D6 | 39240 | 41745 | SH |  | SOLE |  | 0 | 0 | 41745 |
| EAST WEST BANCORP INC | COM | 27579R104 | BBG001SCC7R2 | 310983 | 2767 | SH |  | SOLE |  | 0 | 0 | 2767 |
| EASTERLY GOVT PPTYS INC | COM SHS | 27616P301 | BBG007SV91T2 | 6264336 | 295627 | SH |  | SOLE |  | 0 | 0 | 295627 |
| EATON CORP PLC | SHS | G29183103 | BBG001S5QZ45 | 3174908 | 9968 | SH |  | SOLE |  | 0 | 0 | 9968 |
| ECOPETROL S A | SPONSORED ADS | 279158109 | BBG001T3G3D1 | 1209384 | 120697 | SH |  | SOLE |  | 0 | 0 | 120697 |
| ELECTROMED INC | COM | 285409108 | BBG001T853R7 | 211120 | 7250 | SH |  | SOLE |  | 0 | 0 | 7250 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 | BBG001S6KBQ8 | 3371590 | 9618 | SH |  | SOLE |  | 0 | 0 | 9618 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 731857 | 681 | SH |  | SOLE |  | 0 | 0 | 681 |
| EMCOR GROUP INC | COM | 29084Q100 | BBG001S5QVG1 | 321190 | 525 | SH |  | SOLE |  | 0 | 0 | 525 |
| EMERSON ELEC CO | COM | 291011104 | BBG001S5QVT7 | 1697887 | 12793 | SH |  | SOLE |  | 0 | 0 | 12793 |
| ENBRIDGE INC | COM | 29250N105 | BBG001S6Q6D7 | 962347 | 20082 | SH |  | SOLE |  | 0 | 0 | 20082 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 | BBG001SDHNW4 | 7583317 | 459874 | SH |  | SOLE |  | 0 | 0 | 459874 |
| ENTERGY CORP NEW | COM | 29364G103 | BBG001S67KF5 | 219983 | 2380 | SH |  | SOLE |  | 0 | 0 | 2380 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 | BBG001S9P0Z1 | 5430740 | 169393 | SH |  | SOLE |  | 0 | 0 | 169393 |
| ENTRAVISION COMMUNICATIONS C | CL A | 29382R107 | BBG001SF6Z72 | 117200 | 40000 | SH |  | SOLE |  | 0 | 0 | 40000 |
| EOG RES INC | COM | 26875P101 | BBG001S5ZB93 | 1368175 | 13029 | SH |  | SOLE |  | 0 | 0 | 13029 |
| EQT CORP | COM | 26884L109 | BBG001S5QXJ4 | 248436 | 4635 | SH |  | SOLE |  | 0 | 0 | 4635 |
| ETFIS SER TR I | VIRTUS REAVES UT | 26923G806 | BBG00B2VXTZ6 | 355275 | 4500 | SH |  | SOLE |  | 0 | 0 | 4500 |
| ETFS GOLD TR | PHYSCL GOLD SHS | 00326A104 | BBG001SCTFP8 | 3495292 | 85085 | SH |  | SOLE |  | 0 | 0 | 85085 |
| EVERCORE INC | CLASS A | 29977A105 | BBG001SC3S41 | 364067 | 1070 | SH |  | SOLE |  | 0 | 0 | 1070 |
| EVOLV TECHNOLOGIES HLDNGS IN | COM CL A | 30049H102 | BBG00W1PPKY3 | 293560 | 41000 | SH |  | SOLE |  | 0 | 0 | 41000 |
| EXCHANGE LISTED FDS TR | PLUS KOREA DEFE | 30151E491 | BBG01RQZXN88 | 526572 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| EXELON CORP | COM | 30161N101 | BBG001SBJMT2 | 3014246 | 69150 | SH |  | SOLE |  | 0 | 0 | 69150 |
| EXPAND ENERGY CORPORATION | COM | 165167735 | BBG00Z6DX607 | 755083 | 6842 | SH |  | SOLE |  | 0 | 0 | 6842 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 13611610 | 113110 | SH |  | SOLE |  | 0 | 0 | 113110 |
| FEDEX CORP | COM | 31428X106 | BBG001S5R3M5 | 764386 | 2646 | SH |  | SOLE |  | 0 | 0 | 2646 |
| FERMI INC | COM | 314911108 | BBG01X4QY4Q0 | 157800 | 19725 | SH |  | SOLE |  | 0 | 0 | 19725 |
| FERROGLOBE PLC | SHS | G33856108 | BBG00B6BGDB6 | 1509856 | 325400 | SH |  | SOLE |  | 0 | 0 | 325400 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 | BBG01KY66QQ1 | 256209 | 3361 | SH |  | SOLE |  | 0 | 0 | 3361 |
| FIGURE TECHNOLOGY SOLUTIO | COM CL A | 349381103 | BBG01NGH78K6 | 296090 | 7250 | SH |  | SOLE |  | 0 | 0 | 7250 |
| FIRST CTZNS BANCSHARES INC D | CL A | 31946M103 | BBG001S5R2V7 | 268272 | 125 | SH |  | SOLE |  | 0 | 0 | 125 |
| FIRST TR EXCHANGE TRADED FD | NASDQ CLN EDGE | 33737A108 | BBG001T61KB4 | 1315360 | 8596 | SH |  | SOLE |  | 0 | 0 | 8596 |
| FIRST TR EXCHANGE-TRADED FD | NAT GAS ETF | 33733E807 | BBG001SS80F0 | 377954 | 16145 | SH |  | SOLE |  | 0 | 0 | 16145 |
| FLEX LTD | ORD | Y2573F102 | BBG001SC5SP6 | 558885 | 9250 | SH |  | SOLE |  | 0 | 0 | 9250 |
| FLEXSHARES TR | MORNSTAR UPSTR | 33939L407 | BBG00243P8S9 | 649465 | 14165 | SH |  | SOLE |  | 0 | 0 | 14165 |
| FRANCO NEV CORP | COM | 351858105 | BBG001STGSR5 | 2567785 | 12388 | SH |  | SOLE |  | 0 | 0 | 12388 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 | BBG001S5R3F3 | 2002497 | 39427 | SH |  | SOLE |  | 0 | 0 | 39427 |
| FREQUENCY ELECTRS INC | COM | 358010106 | BBG001S5R3V5 | 1185826 | 22025 | SH |  | SOLE |  | 0 | 0 | 22025 |
| GABELLI EQUITY TR INC | COM | 362397101 | BBG001S5RFR3 | 172013 | 27879 | SH |  | SOLE |  | 0 | 0 | 27879 |
| GE AEROSPACE | COM NEW | 369604301 | BBG001S5PVD5 | 1631554 | 5297 | SH |  | SOLE |  | 0 | 0 | 5297 |
| GENCO SHIPPING  TRADING LTD | SHS | Y2685T131 | BBG006TBN969 | 528978 | 28702 | SH |  | SOLE |  | 0 | 0 | 28702 |
| GENERAL DYNAMICS CORP | COM | 369550108 | BBG001S5RHP1 | 765565 | 2274 | SH |  | SOLE |  | 0 | 0 | 2274 |
| GENESIS ENERGY L P | UNIT LTD PARTN | 371927104 | BBG001S9CQC3 | 288600 | 18500 | SH |  | SOLE |  | 0 | 0 | 18500 |
| GILEAD SCIENCES INC | COM | 375558103 | BBG001S6Y1X7 | 487646 | 3973 | SH |  | SOLE |  | 0 | 0 | 3973 |
| GLOBAL X FDS | GLB X MLP ENRG I | 37954Y293 | BBG004Y67XK8 | 338968 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |
| GLOBAL X FDS | GLBL X MLP ETF | 37954Y343 | BBG002WKD6P0 | 3299141 | 68150 | SH |  | SOLE |  | 0 | 0 | 68150 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 | BBG001T8JBX7 | 841738 | 11725 | SH |  | SOLE |  | 0 | 0 | 11725 |
| GLOBAL X FDS | GLOBAL X SILVER | 37954Y848 | BBG001SSPRJ8 | 3881425 | 46473 | SH |  | SOLE |  | 0 | 0 | 46473 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 | BBG00G5CR9C0 | 1322110 | 27665 | SH |  | SOLE |  | 0 | 0 | 27665 |
| GOLD COM INC | COM | 00181T107 | BBG005ZVDK57 | 297937 | 8750 | SH |  | SOLE |  | 0 | 0 | 8750 |
| GOLD ROYALTY CORP | COMMON SHARES | 38071H106 | BBG00ZGH4841 | 202000 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| GOLDMAN SACHS PHYSICAL GOLD | UNIT | 38150K103 | BBG00LPXX8Z1 | 519110 | 12200 | SH |  | SOLE |  | 0 | 0 | 12200 |
| GRAVITY CO LTD | SPONSORED ADS NE | 38911N206 | BBG001SMMCW2 | 1832106 | 31659 | SH |  | SOLE |  | 0 | 0 | 31659 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 | BBG01NX636V7 | 428857 | 11073 | SH |  | SOLE |  | 0 | 0 | 11073 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 | BBG008748J97 | 3993523 | 58419 | SH |  | SOLE |  | 0 | 0 | 58419 |
| GRUPO AEROPORTUARIO DEL CENT | SPON ADR | 400501102 | BBG001SQT2W8 | 583007 | 5360 | SH |  | SOLE |  | 0 | 0 | 5360 |
| GRUPO AEROPORTUARIO DEL SURE | SPON ADR SER B | 40051E202 | BBG001S5NWT8 | 226380 | 700 | SH |  | SOLE |  | 0 | 0 | 700 |
| GRUPO AVAL ACCIONES Y VALORE | SPONSORED ADS | 40053W101 | BBG004T0ZN64 | 1568970 | 387400 | SH |  | SOLE |  | 0 | 0 | 387400 |
| GRUPO FINANCIERO GALICIA S.A | SPONSORED ADR | 399909100 | BBG001SKXC54 | 550188 | 10200 | SH |  | SOLE |  | 0 | 0 | 10200 |
| GXO LOGISTICS INCORPORATED | COMMON STOCK | 36262G101 | BBG00YDGX9Z1 | 7140616 | 135650 | SH |  | SOLE |  | 0 | 0 | 135650 |
| HA SUSTAINABLE INFRA CAP INC | COM | 41068X100 | BBG0044K5DN3 | 229753 | 7310 | SH |  | SOLE |  | 0 | 0 | 7310 |
| HALLADOR ENERGY COMPANY | COM | 40609P105 | BBG001S8HST8 | 963424 | 50600 | SH |  | SOLE |  | 0 | 0 | 50600 |
| HAWAIIAN ELEC INDUSTRIES | COM | 419870100 | BBG001S5RV43 | 467400 | 38000 | SH |  | SOLE |  | 0 | 0 | 38000 |
| HEALTHCARE RLTY TR | CL A COM | 42226K105 | BBG001T5WP21 | 330525 | 19500 | SH |  | SOLE |  | 0 | 0 | 19500 |
| HEARTLAND EXPRESS INC | COM | 422347104 | BBG001S5S1D8 | 279930 | 31000 | SH |  | SOLE |  | 0 | 0 | 31000 |
| HECLA MNG CO | COM | 422704106 | BBG001S5RXF7 | 4252911 | 221621 | SH |  | SOLE |  | 0 | 0 | 221621 |
| HEICO CORP NEW | COM | 422806109 | BBG001S5RVC4 | 287024 | 887 | SH |  | SOLE |  | 0 | 0 | 887 |
| HERBALIFE LTD | COM SHS | G4412G101 | BBG001SKFKY4 | 3721652 | 288724 | SH |  | SOLE |  | 0 | 0 | 288724 |
| HERON THERAPEUTICS INC | COM | 427746102 | BBG001SB92D4 | 20790 | 15992 | SH |  | SOLE |  | 0 | 0 | 15992 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 1006432 | 2925 | SH |  | SOLE |  | 0 | 0 | 2925 |
| HONEYWELL INTL INC | COM | 438516106 | BBG001S5X1N1 | 740434 | 3795 | SH |  | SOLE |  | 0 | 0 | 3795 |
| HSBC HLDGS PLC | SPON ADR NEW | 404280406 | BBG001SCZVC0 | 2165234 | 27523 | SH |  | SOLE |  | 0 | 0 | 27523 |
| HUMANA INC | COM | 444859102 | BBG001S5S1X6 | 6961922 | 27181 | SH |  | SOLE |  | 0 | 0 | 27181 |
| I-80 GOLD CORP | COM | 44955L106 | BBG00Z3VDWG8 | 390559 | 265000 | SH |  | SOLE |  | 0 | 0 | 265000 |
| ILLINOIS TOOL WKS INC | COM | 452308109 | BBG001S5SDX0 | 220192 | 894 | SH |  | SOLE |  | 0 | 0 | 894 |
| INNOVATIVE SOLUTIONS  SUPPO | COM | 45769N105 | BBG001S8H2T5 | 2645918 | 139700 | SH |  | SOLE |  | 0 | 0 | 139700 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | BBG001SDJ4R0 | 361171 | 2230 | SH |  | SOLE |  | 0 | 0 | 2230 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 698499 | 2358 | SH |  | SOLE |  | 0 | 0 | 2358 |
| INVESCO CURRENCYSHARES SWISS | SWISS FRANC | 46138R108 | BBG001SR8G12 | 1142784 | 10240 | SH |  | SOLE |  | 0 | 0 | 10240 |
| INVESCO DB MULTI-SECTOR COMM | AGRICULTURE FD | 46140H106 | BBG001SSDLZ6 | 783974 | 30720 | SH |  | SOLE |  | 0 | 0 | 30720 |
| INVESCO EXCH TRADED FD TR II | VAR RATE PFD | 46138G870 | BBG006F9S8B0 | 738051 | 30335 | SH |  | SOLE |  | 0 | 0 | 30335 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 436172 | 710 | SH |  | SOLE |  | 0 | 0 | 710 |
| IONEER LTD | SPONSORED ADS | 46211L101 | BBG018KPNT22 | 76800 | 16000 | SH |  | SOLE |  | 0 | 0 | 16000 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 | BBG010J28KR1 | 233230 | 6175 | SH |  | SOLE |  | 0 | 0 | 6175 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | BBG01KYQ6QS5 | 10374417 | 208951 | SH |  | SOLE |  | 20000 | 0 | 188951 |
| ISHARES ETHEREUM TR | SHS | 46438R105 | BBG01NXX8HZ5 | 1254532 | 55931 | SH |  | SOLE |  | 0 | 0 | 55931 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 | BBG001SJK6D5 | 8649962 | 106566 | SH |  | SOLE |  | 0 | 0 | 106566 |
| ISHARES INC | EM MKTS DIV ETF | 464286319 | BBG002PHMJT3 | 3863681 | 123995 | SH |  | SOLE |  | 0 | 0 | 123995 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 | BBG001SFN5N1 | 12450901 | 391908 | SH |  | SOLE |  | 0 | 0 | 391908 |
| ISHARES INC | MSCI CHILE ETF | 464286640 | BBG001T0LL05 | 934492 | 23131 | SH |  | SOLE |  | 0 | 0 | 23131 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 | BBG00H5VLN77 | 7784609 | 107108 | SH |  | SOLE |  | 0 | 0 | 107108 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 | BBG001S8SYN9 | 1475201 | 18271 | SH |  | SOLE |  | 0 | 0 | 18271 |
| ISHARES INC | MSCI MEXICO ETF | 464286822 | BBG001S8SYQ6 | 6627463 | 95593 | SH |  | SOLE |  | 0 | 0 | 95593 |
| ISHARES INC | MSCI SINGPOR ETF | 46434G780 | BBG001S8SYS4 | 1867241 | 67875 | SH |  | SOLE |  | 0 | 0 | 67875 |
| ISHARES INC | MSCI STH KOR ETF | 464286772 | BBG001SF9FC7 | 10000730 | 102867 | SH |  | SOLE |  | 0 | 0 | 102867 |
| ISHARES INC | MSCI TAIWAN ETF | 46434G772 | BBG001SFGL81 | 3026252 | 47635 | SH |  | SOLE |  | 0 | 0 | 47635 |
| ISHARES INC | MSCI WORLD ETF | 464286392 | BBG002D9R378 | 1634776 | 8800 | SH |  | SOLE |  | 0 | 0 | 8800 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | BBG001SQLN69 | 3830735 | 59465 | SH |  | SOLE |  | 0 | 0 | 59465 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 | BBG001SKXPR1 | 303535 | 3665 | SH |  | SOLE |  | 0 | 0 | 3665 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 | BBG001SMDNB1 | 1186990 | 31000 | SH |  | SOLE |  | 0 | 0 | 31000 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 455924 | 6908 | SH |  | SOLE |  | 0 | 0 | 6908 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 1640756 | 2395 | SH |  | SOLE |  | 0 | 0 | 2395 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 | BBG00D7BBRS7 | 210149 | 2210 | SH |  | SOLE |  | 0 | 0 | 2210 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 | BBG001SSD858 | 782095 | 14790 | SH |  | SOLE |  | 0 | 0 | 14790 |
| ISHARES TR | LATN AMER 40 ETF | 464287390 | BBG001SJRVW2 | 897118 | 29462 | SH |  | SOLE |  | 0 | 0 | 29462 |
| ISHARES TR | MSCI EURO FL ETF | 464289180 | BBG001T6MGZ4 | 233482 | 6295 | SH |  | SOLE |  | 0 | 0 | 6295 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 | BBG002DMN4B6 | 9790509 | 181138 | SH |  | SOLE |  | 0 | 0 | 181138 |
| ISHARES TR | MSCI INDONIA ETF | 46429B309 | BBG001S56QM7 | 1501909 | 80316 | SH |  | SOLE |  | 0 | 0 | 80316 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 | BBG001S56320 | 636115 | 1344 | SH |  | SOLE |  | 0 | 0 | 1344 |
| ISHARES TR | TIPS BD ETF | 464287176 | BBG001SD9RM5 | 369078 | 3358 | SH |  | SOLE |  | 0 | 0 | 3358 |
| ISHARES TR | U.S. ENERGY ETF | 464287796 | BBG001SFGXW8 | 310133 | 6525 | SH |  | SOLE |  | 0 | 0 | 6525 |
| ISHARES TR | US AER DEF ETF | 464288760 | BBG001SC08P5 | 863483 | 4022 | SH |  | SOLE |  | 0 | 0 | 4022 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 | BBG001S65TL1 | 367494 | 51326 | SH |  | SOLE |  | 0 | 0 | 51326 |
| ITURAN LOCATION AND CONTROL | SHS | M6158M104 | BBG001S8KHC6 | 7855193 | 182636 | SH |  | SOLE |  | 0 | 0 | 182636 |
| IVANHOE ELECTRIC INC | COM | 46578C108 | BBG012WFRMH9 | 403016 | 25220 | SH |  | SOLE |  | 0 | 0 | 25220 |
| JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | BBG001S6JF54 | 2281594 | 205920 | SH |  | SOLE |  | 0 | 0 | 205920 |
| JD.COM INC | SPON ADS CL A | 47215P106 | BBG005YHY0R6 | 4363864 | 152051 | SH |  | SOLE |  | 0 | 0 | 152051 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 3157742 | 15258 | SH |  | SOLE |  | 0 | 0 | 15258 |
| JPMORGAN CHASE  CO. | COM | 46625H100 | BBG001S8CRC3 | 3707359 | 11506 | SH |  | SOLE |  | 0 | 0 | 11506 |
| KE HLDGS INC | SPONSORED ADS | 482497104 | BBG00W9L9N03 | 386120 | 24500 | SH |  | SOLE |  | 0 | 0 | 24500 |
| KOREA ELEC PWR CORP | SPONSORED ADR | 500631106 | BBG001S6BF52 | 676500 | 41000 | SH |  | SOLE |  | 0 | 0 | 41000 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 | BBG004XB9HZ5 | 3694561 | 108504 | SH |  | SOLE |  | 0 | 0 | 108504 |
| KRANESHARES TRUST | QUADRTC INT RT | 500767736 | BBG00NW3SL00 | 3904367 | 203777 | SH |  | SOLE |  | 0 | 0 | 203777 |
| KROGER CO | COM | 501044101 | BBG001S5SN40 | 312400 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| KVH INDS INC | COM | 482738101 | BBG001S7QMX8 | 320620 | 46000 | SH |  | SOLE |  | 0 | 0 | 46000 |
| LAS VEGAS SANDS CORP | COM | 517834107 | BBG001SJCGP9 | 2215998 | 34045 | SH |  | SOLE |  | 0 | 0 | 34045 |
| LCNB CORP | COM | 50181P100 | BBG001S5SQM3 | 215774 | 13165 | SH |  | SOLE |  | 0 | 0 | 13165 |
| LIBERTY ENERGY INC | COM CL A | 53115L104 | BBG00GK831C5 | 629486 | 34100 | SH |  | SOLE |  | 0 | 0 | 34100 |
| LIFEWAY FOODS INC | COM | 531914109 | BBG001S5SXN7 | 405852 | 16750 | SH |  | SOLE |  | 0 | 0 | 16750 |
| LIGHTPATH TECHNOLOGIES INC | COM CL A | 532257805 | BBG001SD9WB6 | 194400 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| LINDE PLC | SHS | G54950103 | BBG01FND0CH6 | 328747 | 771 | SH |  | SOLE |  | 0 | 0 | 771 |
| LISTED FDS TR | HORIZON KINETICS | 53656H835 | BBG01TYJL1Y3 | 2189848 | 85170 | SH |  | SOLE |  | 0 | 0 | 85170 |
| LISTED FDS TR | HORIZON KINETICS | 53656F623 | BBG00YV34KZ7 | 2215353 | 49828 | SH |  | SOLE |  | 0 | 0 | 49828 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG001S7PS57 | 309549 | 640 | SH |  | SOLE |  | 0 | 0 | 640 |
| LOWES COS INC | COM | 548661107 | BBG001S5SVL3 | 692853 | 2873 | SH |  | SOLE |  | 0 | 0 | 2873 |
| LSB INDS INC | COM | 502160104 | BBG001S67BF5 | 416500 | 49000 | SH |  | SOLE |  | 0 | 0 | 49000 |
| LULULEMON ATHLETICA INC | COM | 550021109 | BBG001STBM75 | 4827011 | 23228 | SH |  | SOLE |  | 0 | 0 | 23228 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | BBG001T8LMY9 | 5812982 | 134249 | SH |  | SOLE |  | 0 | 0 | 134249 |
| MAKEMYTRIP LIMITED MAURITIUS | SHS | V5633W109 | BBG001T4NKS7 | 205300 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| MANULIFE FINL CORP | COM | 56501R106 | BBG001S76KD6 | 341903 | 9424 | SH |  | SOLE |  | 0 | 0 | 9424 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 | BBG001S7QC51 | 282065 | 453 | SH |  | SOLE |  | 0 | 0 | 453 |
| MATADOR RES CO | COM | 576485205 | BBG001T3L5S4 | 553842 | 13050 | SH |  | SOLE |  | 0 | 0 | 13050 |
| MCDONALDS CORP | COM | 580135101 | BBG001S5T110 | 2121289 | 6941 | SH |  | SOLE |  | 0 | 0 | 6941 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG001S5T2S9 | 1077601 | 11218 | SH |  | SOLE |  | 0 | 0 | 11218 |
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 | BBG001SBX933 | 189250 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 2721299 | 25853 | SH |  | SOLE |  | 0 | 0 | 25853 |
| MESABI TR | CTF BEN INT | 590672101 | BBG001S5TCR8 | 217638 | 5650 | SH |  | SOLE |  | 0 | 0 | 5650 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 1150537 | 1743 | SH |  | SOLE |  | 0 | 0 | 1743 |
| MIAMI INTL HLDGS INC | COM | 59356Q108 | BBG004RKDWM8 | 1610550 | 36290 | SH |  | SOLE |  | 0 | 0 | 36290 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 9221889 | 19068 | SH |  | SOLE |  | 0 | 0 | 19068 |
| MITSUBISHI UFJ FINL GROUP IN | SPONSORED ADS | 606822104 | BBG001SFZ3S8 | 4759967 | 300124 | SH |  | SOLE |  | 0 | 0 | 300124 |
| MONDELEZ INTL INC | CL A | 609207105 | BBG001SHHZJ3 | 212575 | 3949 | SH |  | SOLE |  | 0 | 0 | 3949 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG001S9V5Z3 | 278900 | 1571 | SH |  | SOLE |  | 0 | 0 | 1571 |
| MORGAN STANLEY EMERGING MKTS | COM | 617477104 | BBG001SRJQL6 | 206964 | 38115 | SH |  | SOLE |  | 0 | 0 | 38115 |
| MOSAIC CO NEW | COM | 61945C103 | BBG001S7LJN1 | 4486771 | 186250 | SH |  | SOLE |  | 0 | 0 | 186250 |
| MPLX LP | COM UNIT REP LTD | 55336V100 | BBG0035TJHL3 | 2083832 | 39045 | SH |  | SOLE |  | 0 | 0 | 39045 |
| NATHANS FAMOUS INC NEW | COM | 632347100 | BBG001S5Q337 | 430422 | 4600 | SH |  | SOLE |  | 0 | 0 | 4600 |
| NATIONAL BEVERAGE CORP | COM | 635017106 | BBG001S5PM18 | 778116 | 24400 | SH |  | SOLE |  | 0 | 0 | 24400 |
| NATIONAL PRESTO INDS INC | COM | 637215104 | BBG001S5TPT7 | 265299 | 2485 | SH |  | SOLE |  | 0 | 0 | 2485 |
| NATURAL RESOURCE PARTNERS L | COM UNIT LTD PAR | 63900P608 | BBG001SH9LZ5 | 2215890 | 21225 | SH |  | SOLE |  | 0 | 0 | 21225 |
| NETAPP INC | COM | 64110D104 | BBG001S8LYX5 | 235170 | 2196 | SH |  | SOLE |  | 0 | 0 | 2196 |
| NEW GOLD INC CDA | COM | 644535106 | BBG001S5YM54 | 130650 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| NEWMONT CORP | COM | 651639106 | BBG001S5TKX3 | 3628763 | 36342 | SH |  | SOLE |  | 0 | 0 | 36342 |
| NEXGEN ENERGY LTD | COM | 65340P106 | BBG00334PFM6 | 1706606 | 185200 | SH |  | SOLE |  | 0 | 0 | 185200 |
| NEXTERA ENERGY INC | COM | 65339F101 | BBG001S5RB29 | 940480 | 11715 | SH |  | SOLE |  | 0 | 0 | 11715 |
| NICE LTD | SPONSORED ADR | 653656108 | BBG001S9RK49 | 4206558 | 37213 | SH |  | SOLE |  | 0 | 0 | 37213 |
| NIKE INC | CL B | 654106103 | BBG001S6NTK2 | 562559 | 8830 | SH |  | SOLE |  | 0 | 0 | 8830 |
| NOBLE CORP PLC | ORD SHS A | G65431127 | BBG018KBK3H7 | 336197 | 11905 | SH |  | SOLE |  | 0 | 0 | 11905 |
| NOKIA CORP | SPONSORED ADR | 654902204 | BBG001SCPCG9 | 64713 | 10002 | SH |  | SOLE |  | 0 | 0 | 10002 |
| NORFOLK SOUTHN CORP | COM | 655844108 | BBG001S5TQJ6 | 1008499 | 3493 | SH |  | SOLE |  | 0 | 0 | 3493 |
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 | BBG001S77X29 | 147750 | 75000 | SH |  | SOLE |  | 0 | 0 | 75000 |
| NOVAGOLD RES INC | COM NEW | 66987E206 | BBG001S5ZT85 | 675700 | 72500 | SH |  | SOLE |  | 0 | 0 | 72500 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 | BBG001SF5LW6 | 4234126 | 30711 | SH |  | SOLE |  | 0 | 0 | 30711 |
| NRG ENERGY INC | COM NEW | 629377508 | BBG001SDD8F0 | 342366 | 2150 | SH |  | SOLE |  | 0 | 0 | 2150 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 | BBG0136WM2Y9 | 647838 | 38700 | SH |  | SOLE |  | 0 | 0 | 38700 |
| NUTRIEN LTD | COM | 67077M108 | BBG00JM9SM69 | 980504 | 15863 | SH |  | SOLE |  | 0 | 0 | 15863 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 4292990 | 23019 | SH |  | SOLE |  | 0 | 0 | 23019 |
| OCCIDENTAL PETE CORP | COM | 674599105 | BBG001S5TZG9 | 1216595 | 29586 | SH |  | SOLE |  | 0 | 0 | 29586 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 376176 | 1930 | SH |  | SOLE |  | 0 | 0 | 1930 |
| OSISKO DEVELOPMENT CORP | COM NEW | 68828E809 | BBG001SSW232 | 1265125 | 362500 | SH |  | SOLE |  | 0 | 0 | 362500 |
| PAGSEGURO DIGITAL LTD | COM CL A | G68707101 | BBG00JM7QCG6 | 96400 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | BBG001T53796 | 508898 | 2863 | SH |  | SOLE |  | 0 | 0 | 2863 |
| PAN AMERN SILVER CORP | COM | 697900108 | BBG001S5ZXR5 | 690213 | 13322 | SH |  | SOLE |  | 0 | 0 | 13322 |
| PARKER-HANNIFIN CORP | COM | 701094104 | BBG001S5V554 | 364768 | 415 | SH |  | SOLE |  | 0 | 0 | 415 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXW5 | 330372 | 5659 | SH |  | SOLE |  | 0 | 0 | 5659 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 4492879 | 31305 | SH |  | SOLE |  | 0 | 0 | 31305 |
| PERPETUA RESOURCES CORP | COM | 714266103 | BBG001V1HWW6 | 5515377 | 227814 | SH |  | SOLE |  | 0 | 0 | 227814 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 | BBG001SF6W88 | 501871 | 42352 | SH |  | SOLE |  | 0 | 0 | 42352 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 339394 | 13630 | SH |  | SOLE |  | 0 | 0 | 13630 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG001STP9N1 | 4878005 | 30412 | SH |  | SOLE |  | 0 | 0 | 30412 |
| PITNEY BOWES INC | COM | 724479100 | BBG001S5V171 | 170131 | 16096 | SH |  | SOLE |  | 0 | 0 | 16096 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 | BBG00NSBGG83 | 419075 | 25965 | SH |  | SOLE |  | 0 | 0 | 25965 |
| POWERFLEET INC | COM | 73931J109 | BBG00PG3JNM5 | 154280 | 29000 | SH |  | SOLE |  | 0 | 0 | 29000 |
| PRIORITY TECHNOLOGY HLDGS IN | COM | 74275G107 | BBG00DSNH2C4 | 241162 | 44250 | SH |  | SOLE |  | 0 | 0 | 44250 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 819017 | 5715 | SH |  | SOLE |  | 0 | 0 | 5715 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 | BBG001S5TH79 | 841039 | 3241 | SH |  | SOLE |  | 0 | 0 | 3241 |
| QUALCOMM INC | COM | 747525103 | BBG001S6VS70 | 2714735 | 15871 | SH |  | SOLE |  | 0 | 0 | 15871 |
| RANGE RES CORP | COM | 75281A109 | BBG001SBZNN8 | 1850656 | 52486 | SH |  | SOLE |  | 0 | 0 | 52486 |
| REDWIRE CORPORATION | COM | 75776W103 | BBG00YGLXFH3 | 76000 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| REMITLY GLOBAL INC | COM | 75960P104 | BBG012C7JTN6 | 1693481 | 122716 | SH |  | SOLE |  | 0 | 0 | 122716 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 | BBG008NMBXP6 | 967005 | 8550 | SH |  | SOLE |  | 0 | 0 | 8550 |
| ROBLOX CORP | CL A | 771049103 | BBG001V1Y6Z1 | 280364 | 3460 | SH |  | SOLE |  | 0 | 0 | 3460 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 | BBG001S5RMJ7 | 213095 | 764 | SH |  | SOLE |  | 0 | 0 | 764 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 1666372 | 9086 | SH |  | SOLE |  | 0 | 0 | 9086 |
| S GLOBAL INC | COM | 78409V104 | BBG001S5T5M8 | 427479 | 818 | SH |  | SOLE |  | 0 | 0 | 818 |
| SAN JUAN BASIN RTY TR | UNIT BEN INT | 798241105 | BBG001S5W3M9 | 302075 | 53750 | SH |  | SOLE |  | 0 | 0 | 53750 |
| SANOFI SA | SPONSORED ADR | 80105N105 | BBG001S5W768 | 469432 | 9687 | SH |  | SOLE |  | 0 | 0 | 9687 |
| SASOL LTD | SPONSORED ADR | 803866300 | BBG001S5VW00 | 188790 | 29000 | SH |  | SOLE |  | 0 | 0 | 29000 |
| SCHMID GROUP N.V. | EURO SHS CL A | N68722102 | BBG01J2WHC90 | 359310 | 58000 | SH |  | SOLE |  | 0 | 0 | 58000 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 | BBG001S7T1S7 | 4336781 | 96998 | SH |  | SOLE |  | 0 | 0 | 96998 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 | BBG001S7T223 | 315749 | 5765 | SH |  | SOLE |  | 0 | 0 | 5765 |
| SELECT SECTOR SPDR TR | STATE STREET IND | 81369Y704 | BBG001S7T232 | 576426 | 3716 | SH |  | SOLE |  | 0 | 0 | 3716 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 298632 | 4064 | SH |  | SOLE |  | 0 | 0 | 4064 |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 | BBG00RRGP4W4 | 498750 | 35000 | SH |  | SOLE |  | 0 | 0 | 35000 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 836697 | 4520 | SH |  | SOLE |  | 0 | 0 | 4520 |
| SIMPLIFY EXCHANGE TRADED FUN | CURRENCY STRATEG | 82889N368 | BBG01S1BBWD4 | 1064988 | 39140 | SH |  | SOLE |  | 0 | 0 | 39140 |
| SIMPLIFY EXCHANGE TRADED FUN | ENHANCED INM ETF | 82889N632 | BBG01B861GC2 | 214734 | 9625 | SH |  | SOLE |  | 0 | 0 | 9625 |
| SIMPLIFY EXCHANGE TRADED FUN | HIGH YIELD ETF | 82889N830 | BBG015BCL3G1 | 3100809 | 139237 | SH |  | SOLE |  | 0 | 0 | 139237 |
| SIMPLIFY EXCHANGE TRADED FUN | KAYNE ANDERSON | 82889N277 | BBG01V5CN6Q1 | 312128 | 12075 | SH |  | SOLE |  | 0 | 0 | 12075 |
| SIMPLIFY EXCHANGE TRADED FUN | MANAGED FUTURES | 82889N699 | BBG015TRLF27 | 1810882 | 66430 | SH |  | SOLE |  | 0 | 0 | 66430 |
| SIMPLIFY EXCHANGE TRADED FUN | MBS ETF | 82889N525 | BBG01JXBTX20 | 18079042 | 358640 | SH |  | SOLE |  | 0 | 0 | 358640 |
| SIMPLIFY EXCHANGE TRADED FUN | SHORT TERM TREA | 82889N657 | BBG01BFJ3TM5 | 616109 | 28129 | SH |  | SOLE |  | 0 | 0 | 28129 |
| SKEENA RES LTD NEW | COM | 83056P715 | BBG001S6LB05 | 5329618 | 224073 | SH |  | SOLE |  | 0 | 0 | 224073 |
| SLB LIMITED | COM STK | 806857108 | BBG001S5W4C8 | 7039065 | 183405 | SH |  | SOLE |  | 0 | 0 | 183405 |
| SM ENERGY CO | COM | 78454L100 | BBG001S6W0J7 | 7424626 | 397039 | SH |  | SOLE |  | 0 | 0 | 397039 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 | BBG001S5W6H8 | 376883 | 14722 | SH |  | SOLE |  | 0 | 0 | 14722 |
| SOUTHERN CO | COM | 842587107 | BBG001S5W777 | 329616 | 3780 | SH |  | SOLE |  | 0 | 0 | 3780 |
| SPDR INDEX SHS FDS | EURO STOXX 50 | 78463X202 | BBG001SLBK12 | 1178530 | 18303 | SH |  | SOLE |  | 0 | 0 | 18303 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 1736549 | 2547 | SH |  | SOLE |  | 0 | 0 | 2547 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 | BBG001STKCW9 | 2904513 | 31785 | SH |  | SOLE |  | 0 | 0 | 31785 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A755 | BBG001SMH2W0 | 2949051 | 28463 | SH |  | SOLE |  | 0 | 0 | 28463 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R523 | BBG00X8RXGK5 | 1083482 | 10920 | SH |  | SOLE |  | 0 | 0 | 10920 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R556 | BBG001SB12P9 | 670693 | 5312 | SH |  | SOLE |  | 0 | 0 | 5312 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 | BBG001SQDKG3 | 506619 | 4155 | SH |  | SOLE |  | 0 | 0 | 4155 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD AN | 85208R101 | BBG00JPZ8T56 | 20507804 | 447769 | SH |  | SOLE |  | 0 | 0 | 447769 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD TR | 85207H104 | BBG001T66XM9 | 142584289 | 4318119 | SH |  | SOLE |  | 130000 | 0 | 4188119 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL SILVER | 85207K107 | BBG001T96GD0 | 21821027 | 922665 | SH |  | SOLE |  | 0 | 0 | 922665 |
| SPROTT ETF TRUST | GOLD MINERS ETF | 85210B102 | BBG006T1GQZ9 | 2305101 | 33105 | SH |  | SOLE |  | 0 | 0 | 33105 |
| SPROTT FDS TR | JUNIOR URANIUM | 85208P808 | BBG01DJ76BT2 | 351540 | 13950 | SH |  | SOLE |  | 0 | 0 | 13950 |
| SPROTT FDS TR | URANIUM MINERS E | 85208P303 | BBG016ZGFLP1 | 454489 | 8280 | SH |  | SOLE |  | 0 | 0 | 8280 |
| SPROUTS FMRS MKT INC | COM | 85208M102 | BBG001V0MZS0 | 284820 | 3575 | SH |  | SOLE |  | 0 | 0 | 3575 |
| SR BANCORP INC | COM | 85227J106 | BBG01FTV4XH0 | 472200 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 | BBG001STPPK8 | 2873495 | 32870 | SH |  | SOLE |  | 0 | 0 | 32870 |
| STANLEY BLACK  DECKER INC | COM | 854502101 | BBG001S5WHT1 | 3723194 | 50124 | SH |  | SOLE |  | 0 | 0 | 50124 |
| STARBUCKS CORP | COM | 855244109 | BBG001S72KH6 | 473286 | 5620 | SH |  | SOLE |  | 0 | 0 | 5620 |
| STURM RUGER  CO INC | COM | 864159108 | BBG001S6LMJ1 | 439142 | 13450 | SH |  | SOLE |  | 0 | 0 | 13450 |
| SUMITOMO MITSUI FINL GROUP I | SPONSORED ADR | 86562M209 | BBG001SLH608 | 2203137 | 113975 | SH |  | SOLE |  | 0 | 0 | 113975 |
| SUNCOR ENERGY INC NEW | COM | 867224107 | BBG001S5YSF0 | 4490297 | 101224 | SH |  | SOLE |  | 0 | 0 | 101224 |
| T1 ENERGY INC | COM NEW | 35834F104 | BBG01KR6BS89 | 106880 | 16000 | SH |  | SOLE |  | 0 | 0 | 16000 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | BBG001S5WWW4 | 696212 | 2291 | SH |  | SOLE |  | 0 | 0 | 2291 |
| TARGET HOSPITALITY CORP | COM | 87615L107 | BBG00K7K34Y4 | 516645 | 64500 | SH |  | SOLE |  | 0 | 0 | 64500 |
| TASEKO MINES LTD | COM | 876511106 | BBG001S60ML1 | 226400 | 40000 | SH |  | SOLE |  | 0 | 0 | 40000 |
| TECK RESOURCES LTD | CL B | 878742204 | BBG001S60LH8 | 2056843 | 42949 | SH |  | SOLE |  | 0 | 0 | 42949 |
| TEMPLETON EMERGING MKTS INCO | COM | 880192109 | BBG001S5WMJ1 | 2662624 | 412810 | SH |  | SOLE |  | 0 | 0 | 412810 |
| TESLA INC | COM | 88160R101 | BBG001SQKGD7 | 954756 | 2123 | SH |  | SOLE |  | 0 | 0 | 2123 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 | BBG00YRJXKC0 | 511252 | 1780 | SH |  | SOLE |  | 0 | 0 | 1780 |
| THE ONCOLOGY INSTITUTE INC | COM | 68236X100 | BBG00S5H21J0 | 35600 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| TIC SOLUTIONS INC | COM | 00510N102 | BBG01GNJ51W3 | 505500 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| TIDEWATER INC NEW | COM | 88642R109 | BBG00HBQ36G8 | 916706 | 18149 | SH |  | SOLE |  | 0 | 0 | 18149 |
| TRIPLE FLAG PRECIOUS METAL | COM | 89679M104 | BBG00QRZMFT6 | 219252 | 6600 | SH |  | SOLE |  | 0 | 0 | 6600 |
| TURNING PT BRANDS INC | COM | 90041L105 | BBG001T99T94 | 3378286 | 31165 | SH |  | SOLE |  | 0 | 0 | 31165 |
| TWIST BIOSCIENCE CORP | COM | 90184D100 | BBG006KDCHK2 | 458354 | 14450 | SH |  | SOLE |  | 0 | 0 | 14450 |
| TWO HBRS INVT CORP | COM | 90187B804 | BBG001T4RH00 | 5596531 | 533003 | SH |  | SOLE |  | 0 | 0 | 533003 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MW4 | 236959 | 2900 | SH |  | SOLE |  | 0 | 0 | 2900 |
| UNILEVER PLC | SPON ADR NEW | 904767803 | BBG001S5X1K4 | 270938 | 4143 | SH |  | SOLE |  | 0 | 0 | 4143 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 895440 | 3871 | SH |  | SOLE |  | 0 | 0 | 3871 |
| UNIQURE NV | SHS | N90064101 | BBG005SSJYG4 | 701149 | 29300 | SH |  | SOLE |  | 0 | 0 | 29300 |
| UNITED STS COMMODITY INDEX F | COMM IDX FND | 911717106 | BBG001TB7T82 | 2100670 | 27067 | SH |  | SOLE |  | 0 | 0 | 27067 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 478244 | 1449 | SH |  | SOLE |  | 0 | 0 | 1449 |
| US BANCORP DEL | COM NEW | 902973304 | BBG001S6T8C1 | 383605 | 7189 | SH |  | SOLE |  | 0 | 0 | 7189 |
| V F CORP | COM | 918204108 | BBG001S5X749 | 2926447 | 161861 | SH |  | SOLE |  | 0 | 0 | 161861 |
| VALARIS LTD | CL A | G9460G101 | BBG010JW9K58 | 1146852 | 22755 | SH |  | SOLE |  | 0 | 0 | 22755 |
| VALE S A | SPONSORED ADS | 91912E105 | BBG001SB54S8 | 1025318 | 78689 | SH |  | SOLE |  | 0 | 0 | 78689 |
| VALERO ENERGY CORP | COM | 91913Y100 | BBG001S5X8K9 | 950694 | 5840 | SH |  | SOLE |  | 0 | 0 | 5840 |
| VANECK ETF TRUST | AFRICA INDEX ETF | 92189F866 | BBG001T33P37 | 396569 | 14825 | SH |  | SOLE |  | 0 | 0 | 14825 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | BBG001SR42Z0 | 18626672 | 217170 | SH |  | SOLE |  | 0 | 0 | 217170 |
| VANECK ETF TRUST | JP MRGAN EM LOC | 92189H300 | BBG001T9BPT7 | 9849220 | 381457 | SH |  | SOLE |  | 0 | 0 | 381457 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | BBG001T60G06 | 3770024 | 33134 | SH |  | SOLE |  | 0 | 0 | 33134 |
| VANECK ETF TRUST | MRNGSTR WDE MOAT | 92189F643 | BBG002XRNHT5 | 1242202 | 11995 | SH |  | SOLE |  | 0 | 0 | 11995 |
| VANECK ETF TRUST | OIL SERVICES ETF | 92189H607 | BBG001SGYST1 | 237213 | 833 | SH |  | SOLE |  | 0 | 0 | 833 |
| VANECK ETF TRUST | RARE EARTH AND S | 92189H805 | BBG001TCVD33 | 226787 | 3068 | SH |  | SOLE |  | 0 | 0 | 3068 |
| VANECK ETF TRUST | VANECK VIETNAM | 92189F817 | BBG001T5CFW2 | 3569296 | 187070 | SH |  | SOLE |  | 0 | 0 | 187070 |
| VANECK MERK GOLD ETF | GOLD SHS | 921078101 | BBG002WYN9L7 | 13617677 | 328295 | SH |  | SOLE |  | 50000 | 0 | 278295 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 | BBG001SHTTS4 | 1623649 | 3328 | SH |  | SOLE |  | 0 | 0 | 3328 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 | BBG001SHVTS1 | 263810 | 909 | SH |  | SOLE |  | 0 | 0 | 909 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 | BBG001SMD2X3 | 250109 | 2826 | SH |  | SOLE |  | 0 | 0 | 2826 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 269039 | 429 | SH |  | SOLE |  | 0 | 0 | 429 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 | BBG001SHVTR2 | 1063186 | 5020 | SH |  | SOLE |  | 0 | 0 | 5020 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 205586 | 797 | SH |  | SOLE |  | 0 | 0 | 797 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | BBG001SHTB03 | 340634 | 1016 | SH |  | SOLE |  | 0 | 0 | 1016 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 | BBG001SHVR78 | 1908945 | 9995 | SH |  | SOLE |  | 0 | 0 | 9995 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 | BBG001SP7T00 | 247235 | 3361 | SH |  | SOLE |  | 0 | 0 | 3361 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 546794 | 10171 | SH |  | SOLE |  | 0 | 0 | 10171 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 | BBG003H12XS7 | 1382562 | 27953 | SH |  | SOLE |  | 0 | 0 | 27953 |
| VANGUARD MALVERN FDS | TOTAL INFLATION | 922020698 | BBG01VXRSQS6 | 384533 | 5075 | SH |  | SOLE |  | 0 | 0 | 5075 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 | BBG001T62M38 | 1632204 | 19489 | SH |  | SOLE |  | 0 | 0 | 19489 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 | BBG001T62M74 | 222293 | 3785 | SH |  | SOLE |  | 0 | 0 | 3785 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 | BBG001T62KZ7 | 1025009 | 12856 | SH |  | SOLE |  | 0 | 0 | 12856 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 2967952 | 13504 | SH |  | SOLE |  | 0 | 0 | 13504 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 | BBG001SS0V24 | 3975579 | 27701 | SH |  | SOLE |  | 0 | 0 | 27701 |
| VEEA INC | COM | 693489122 | BBG00ZKFG909 | 16891 | 26500 | SH |  | SOLE |  | 0 | 0 | 26500 |
| VELO3D INC | COM NEW | 92259N302 | BBG00YZ5PM72 | 288911 | 21027 | SH |  | SOLE |  | 0 | 0 | 21027 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 1102679 | 27073 | SH |  | SOLE |  | 0 | 0 | 27073 |
| VERMILION ENERGY INC | COM | 923725105 | BBG001S7X7L6 | 1019642 | 122375 | SH |  | SOLE |  | 0 | 0 | 122375 |
| VIATRIS INC | COM | 92556V106 | BBG00Y52JV51 | 427072 | 34303 | SH |  | SOLE |  | 0 | 0 | 34303 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 1664470 | 4746 | SH |  | SOLE |  | 0 | 0 | 4746 |
| VISHAY PRECISION GROUP INC | COM | 92835K103 | BBG001T5X9F2 | 379802 | 9865 | SH |  | SOLE |  | 0 | 0 | 9865 |
| VISTRA CORP | COM | 92840M102 | BBG00DXDL6R0 | 1467942 | 9099 | SH |  | SOLE |  | 0 | 0 | 9099 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 7001549 | 62845 | SH |  | SOLE |  | 0 | 0 | 62845 |
| WASTE MGMT INC DEL | COM | 94106L109 | BBG001S5XH47 | 1074821 | 4892 | SH |  | SOLE |  | 0 | 0 | 4892 |
| WATERBRIDGE INFRASTRUCTURE L | CL A SHS REPSTG | 940923105 | BBG01WX46WQ8 | 270135 | 13500 | SH |  | SOLE |  | 0 | 0 | 13500 |
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 |  | 519948 | 429 | SH |  | SOLE |  | 0 | 0 | 429 |
| WESCO INTL INC | COM | 95082P105 | BBG001SCRP78 | 1191641 | 4871 | SH |  | SOLE |  | 0 | 0 | 4871 |
| WESTERN ASSET HIGH INCOME OP | COM | 95766K109 | BBG001S7HQ69 | 51840 | 13973 | SH |  | SOLE |  | 0 | 0 | 13973 |
| WESTERN DIGITAL CORP | COM | 958102105 | BBG001S5XD28 | 267708 | 1554 | SH |  | SOLE |  | 0 | 0 | 1554 |
| WESTERN MIDSTREAM PARTNERS L | COM UNIT LP INT | 958669103 | BBG003M3V2V9 | 2889425 | 73150 | SH |  | SOLE |  | 0 | 0 | 73150 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 | BBG001S5XL11 | 5338091 | 225331 | SH |  | SOLE |  | 0 | 0 | 225331 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 | BBG001S6DSP0 | 1225379 | 10427 | SH |  | SOLE |  | 0 | 0 | 10427 |
| WILLIS LEASE FIN CORP | COM | 970646105 | BBG001S934S5 | 5039297 | 37152 | SH |  | SOLE |  | 0 | 0 | 37152 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 | BBG001SHY2Q9 | 373947 | 1138 | SH |  | SOLE |  | 0 | 0 | 1138 |
| WINTRUST FINL CORP | COM | 97650W108 | BBG001S945T0 | 664145 | 4750 | SH |  | SOLE |  | 0 | 0 | 4750 |
| WISDOMTREE TR | EM LCL DEBT FD | 97717X867 | BBG001SVS9X2 | 1850492 | 63373 | SH |  | SOLE |  | 0 | 0 | 63373 |
| XP INC | CL A | G98239109 | BBG00QVJYHP4 | 237365 | 14500 | SH |  | SOLE |  | 0 | 0 | 14500 |
| YPF SOCIEDAD ANONIMA | SPON ADR CL D | 984245100 | BBG001S61Q40 | 388720 | 10750 | SH |  | SOLE |  | 0 | 0 | 10750 |
| YUM BRANDS INC | COM | 988498101 | BBG001S7JQ30 | 202413 | 1338 | SH |  | SOLE |  | 0 | 0 | 1338 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 | BBG001S6SX73 | 472285 | 1945 | SH |  | SOLE |  | 0 | 0 | 1945 |

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