# EDGAR Filing Document

**Accession Number:** 0001358828
**File Stem:** 0001085146-25-004524
**Filing Date:** 2025-8
**Character Count:** 19616
**Document Hash:** eff6de7ceda2983bbf71cd3f6afb70fd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-25-004524.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0001085146-25-004524

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250805

**EFFECTIVENESS DATE**: 20250805

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Financial Sense Advisors, Inc.
- **CENTRAL INDEX KEY:** 0001358828

**ORGANIZATION NAME:**
- **EIN:** 330086182
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11894
- **FILM NUMBER:** 251183626

**BUSINESS ADDRESS:**
- **STREET 1:** 10809 THORNMINT ROAD
- **STREET 2:** 2ND FLOOR
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92127
- **BUSINESS PHONE:** 858-487-3939

**MAIL ADDRESS:**
- **STREET 1:** 10809 THORNMINT ROAD
- **STREET 2:** 2ND FLOOR
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FINANCIAL SENSE ADVISORS, INC
- **DATE OF NAME CHANGE:** 20171027

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Puplava Financial Services, Inc.
- **DATE OF NAME CHANGE:** 20070206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Puplava Financial Services
- **DATE OF NAME CHANGE:** 20060410

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Financial Sense Advisors Inc.<br>**Address:** 10809 THORNMINT ROAD<br>2ND FLOOR<br>SAN DIEGO, CA 92127

**Form 13F File Number:** 028-11894

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:** James J. Puplava<br>**Title:** President<br>**Phone:** 858-487-3939

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

/s/  James J. Puplava  San Diego, CA  08-05-2025<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:** 141

**Form 13F Information Table Value Total:** $424538055

      (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 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 898777 | 4842 | SH |  | SOLE |  | 0 | 0 | 4842 |
| ABRDN PALLADIUM ETF TRUST | PHYSICAL PALLADM | 003262102 | BBG001T6GDX0 | 804880 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 | BBG001S5NN36 | 824298 | 5809 | SH |  | SOLE |  | 0 | 0 | 5809 |
| AEROVIRONMENT INC | COM | 008073108 | BBG001SPPWP6 | 484415 | 1700 | SH |  | SOLE |  | 0 | 0 | 1700 |
| AGNICO EAGLE MINES LTD | COM | 008474108 | BBG001S77MK3 | 4646896 | 39073 | SH |  | SOLE |  | 0 | 0 | 39073 |
| ALBEMARLE CORP | 7.25% DEP SHS A | 012653200 |  | 7615372 | 237239 | SH |  | SOLE |  | 0 | 0 | 237239 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 674677 | 5949 | SH |  | SOLE |  | 0 | 0 | 5949 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 15542830 | 87620 | SH |  | SOLE |  | 0 | 0 | 87620 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 | BBG001TBMNT5 | 5119021 | 104769 | SH |  | SOLE |  | 0 | 0 | 104769 |
| ALTRIA GROUP INC | COM | 02209S103 | BBG001S5T8T5 | 5446722 | 92900 | SH |  | SOLE |  | 0 | 0 | 92900 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 3015477 | 10800 | SH |  | SOLE |  | 0 | 0 | 10800 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 1437809 | 7008 | SH |  | SOLE |  | 0 | 0 | 7008 |
| ARK ETF TR | AUTNMUS TECHNLGY | 00214Q203 | BBG0077Q7047 | 3585080 | 40205 | SH |  | SOLE |  | 0 | 0 | 40205 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 | BBG001SCG0R3 | 160278 | 200 | SH |  | SOLE |  | 0 | 0 | 200 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 | BBG001SCG0R3 | 1202085 | 1500 | PRN | Call | SOLE |  | 0 | 0 | 1500 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 870081 | 30065 | SH |  | SOLE |  | 0 | 0 | 30065 |
| BARRICK MNG CORP | COM SHS | 06849F108 | BBG001S5N9P3 | 5346390 | 256791 | SH |  | SOLE |  | 0 | 0 | 256791 |
| BEST BUY INC | COM | 086516101 | BBG001S5P285 | 355655 | 5298 | SH |  | SOLE |  | 0 | 0 | 5298 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 | BBG001S5P5K4 | 253723 | 5276 | SH |  | SOLE |  | 0 | 0 | 5276 |
| BLOCK INC | CL A | 852234103 | BBG001TFLWL5 | 297806 | 4384 | SH |  | SOLE |  | 0 | 0 | 4384 |
| BLOCK INC | NOTE 5/0 | 852234AJ2 |  | 17081732 | 17896000 | SH |  | SOLE |  | 0 | 0 | 17896000 |
| BP PLC | SPONSORED ADR | 055622104 | BBG001S5W4F5 | 4416105 | 147548 | SH |  | SOLE |  | 0 | 0 | 147548 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 1035066 | 3755 | SH |  | SOLE |  | 0 | 0 | 3755 |
| BWX TECHNOLOGIES INC | COM | 05605H100 | BBG001SGJPH7 | 1961079 | 13613 | SH |  | SOLE |  | 0 | 0 | 13613 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 | BBG001S7W158 | 3199933 | 13140 | SH |  | SOLE |  | 0 | 0 | 13140 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 2914004 | 20351 | SH |  | SOLE |  | 0 | 0 | 20351 |
| COEUR MNG INC | COM NEW | 192108504 | BBG001S5PM54 | 436178 | 49230 | SH |  | SOLE |  | 0 | 0 | 49230 |
| CONOCOPHILLIPS | COM | 20825C104 | BBG001S5TZM2 | 1653589 | 18426 | SH |  | SOLE |  | 0 | 0 | 18426 |
| DANAHER CORPORATION | COM | 235851102 | BBG001S5QGT0 | 360166 | 1823 | SH |  | SOLE |  | 0 | 0 | 1823 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 | BBG00DW3SZT0 | 591913 | 4828 | SH |  | SOLE |  | 0 | 0 | 4828 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 779814 | 6288 | SH |  | SOLE |  | 0 | 0 | 6288 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 337421 | 5970 | SH |  | SOLE |  | 0 | 0 | 5970 |
| EATON CORP PLC | SHS | G29183103 | BBG001S5QZ45 | 267743 | 750 | SH |  | SOLE |  | 0 | 0 | 750 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 1279989 | 1642 | SH |  | SOLE |  | 0 | 0 | 1642 |
| EQT CORP | COM | 26884L109 | BBG001S5QXJ4 | 1248577 | 21409 | SH |  | SOLE |  | 0 | 0 | 21409 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 4893927 | 45398 | SH |  | SOLE |  | 0 | 0 | 45398 |
| FIRST MAJESTIC SILVER CORP | COM | 32076V103 | BBG001SGV444 | 769164 | 93007 | SH |  | SOLE |  | 0 | 0 | 93007 |
| FIRST SOLAR INC | COM | 336433107 | BBG001S991Z7 | 5352736 | 32335 | SH |  | SOLE |  | 0 | 0 | 32335 |
| FIRST TR EXCHANGE-TRADED FD | NAT GAS ETF | 33733E807 | BBG001SS80F0 | 2635118 | 114025 | SH |  | SOLE |  | 0 | 0 | 114025 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 | BBG001S5R3F3 | 6146718 | 141793 | SH |  | SOLE |  | 0 | 0 | 141793 |
| FRONTLINE PLC | COM | M46528101 | BBG001S66K75 | 164100 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| GE VERNOVA INC | COM | 36828A101 | BBG013G17W77 | 315227 | 596 | SH |  | SOLE |  | 0 | 0 | 596 |
| GLOBAL X FDS | DAX GERMANY ETF | 37954Y491 | BBG00MVW5WR1 | 1717899 | 38235 | SH |  | SOLE |  | 0 | 0 | 38235 |
| GLOBAL X FDS | DEFENSE TECH ETF | 37960A529 | BBG01J6K2RX8 | 4013614 | 66616 | SH |  | SOLE |  | 0 | 0 | 66616 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 | BBG001T8JBX7 | 294572 | 6546 | SH |  | SOLE |  | 0 | 0 | 6546 |
| GLOBAL X FDS | GLOBAL X SILVER | 37954Y848 | BBG001SSPRJ8 | 1324476 | 27513 | SH |  | SOLE |  | 0 | 0 | 27513 |
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 | BBG001TF8NP6 | 369084 | 9510 | SH |  | SOLE |  | 0 | 0 | 9510 |
| GOLD ROYALTY CORP | COMMON SHARES | 38071H106 | BBG00ZGH4841 | 26962 | 12200 | SH |  | SOLE |  | 0 | 0 | 12200 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 212325 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| HESS MIDSTREAM LP | CL A SHS | 428103105 | BBG00R02H8F3 | 12303986 | 319501 | SH |  | SOLE |  | 0 | 0 | 319501 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 992508 | 3367 | SH |  | SOLE |  | 0 | 0 | 3367 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 958199 | 1737 | SH |  | SOLE |  | 0 | 0 | 1737 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | BBG01KYQ6QS5 | 38927459 | 635966 | SH |  | SOLE |  | 0 | 0 | 635966 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | BBG01KYQ6QS5 | 918150 | 15000 | PRN | Call | SOLE |  | 0 | 0 | 15000 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 | BBG001SJK6D5 | 4231314 | 67853 | SH |  | SOLE |  | 0 | 0 | 67853 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | BBG001SQLN69 | 4707350 | 143473 | SH |  | SOLE |  | 0 | 0 | 143473 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | BBG001SQLN69 | 6562000 | 200000 | PRN | Call | SOLE |  | 0 | 0 | 200000 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 | BBG005DW06B7 | 6582749 | 152590 | SH |  | SOLE |  | 0 | 0 | 152590 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 | BBG003H6TRS0 | 307958 | 3689 | SH |  | SOLE |  | 0 | 0 | 3689 |
| ISHARES TR | CORE MSCI EURO | 46434V738 | BBG006MJ8984 | 202705 | 3062 | SH |  | SOLE |  | 0 | 0 | 3062 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 281889 | 454 | SH |  | SOLE |  | 0 | 0 | 454 |
| ISHARES TR | CORE TOTAL USD | 46434V613 | BBG006MJCSW0 | 245528 | 5311 | SH |  | SOLE |  | 0 | 0 | 5311 |
| ISHARES TR | CORE US AGGBD ET | 464287226 | BBG001SM1QT8 | 374062 | 3771 | SH |  | SOLE |  | 0 | 0 | 3771 |
| ISHARES TR | EAFE VALUE ETF | 464288877 | BBG001SNYBH6 | 209611 | 3302 | SH |  | SOLE |  | 0 | 0 | 3302 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 | BBG001V1QYX1 | 4136918 | 81084 | SH |  | SOLE |  | 0 | 0 | 81084 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 | BBG001S60QR6 | 1541272 | 14061 | SH |  | SOLE |  | 0 | 0 | 14061 |
| ISHARES TR | MBS ETF | 464288588 | BBG001SSD8B1 | 362228 | 3858 | SH |  | SOLE |  | 0 | 0 | 3858 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 | BBG0025X2G81 | 809635 | 8625 | SH |  | SOLE |  | 0 | 0 | 8625 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 | BBG004TRTWW3 | 434114 | 2375 | SH |  | SOLE |  | 0 | 0 | 2375 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 | BBG001SZV978 | 704823 | 6746 | SH |  | SOLE |  | 0 | 0 | 6746 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 | BBG001S56320 | 1829608 | 4309 | SH |  | SOLE |  | 0 | 0 | 4309 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 | BBG001S562F8 | 339810 | 1189 | SH |  | SOLE |  | 0 | 0 | 1189 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 | BBG001S561Z8 | 587571 | 4237 | SH |  | SOLE |  | 0 | 0 | 4237 |
| ISHARES TR | U.S. TECH ETF | 464287721 | BBG001SFB7Z7 | 204286 | 1179 | SH |  | SOLE |  | 0 | 0 | 1179 |
| JD.COM INC | SPON ADS CL A | 47215P106 | BBG005YHY0R6 | 497499 | 15242 | SH |  | SOLE |  | 0 | 0 | 15242 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 | BBG004XB9HZ5 | 336297 | 9796 | SH |  | SOLE |  | 0 | 0 | 9796 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 | BBG01MMT6PQ2 | 317113 | 1208 | SH |  | SOLE |  | 0 | 0 | 1208 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | BBG001T8LMY9 | 231440 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG001S5T2S9 | 781199 | 8962 | SH |  | SOLE |  | 0 | 0 | 8962 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 277060 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 5045682 | 10144 | SH |  | SOLE |  | 0 | 0 | 10144 |
| MICROSTRATEGY INC | CL A NEW | 594972408 | BBG001SC7PX1 | 1953240 | 4832 | SH |  | SOLE |  | 0 | 0 | 4832 |
| MICROSTRATEGY INC | CL A NEW | 594972408 | BBG001SC7PX1 | 2021150 | 5000 | PRN | Call | SOLE |  | 0 | 0 | 5000 |
| NEW GOLD INC CDA | COM | 644535106 | BBG001S5YM54 | 721235 | 145704 | SH |  | SOLE |  | 0 | 0 | 145704 |
| NEWELL BRANDS INC | COM | 651229106 | BBG001S5TSW7 | 9820350 | 1818583 | SH |  | SOLE |  | 0 | 0 | 1818583 |
| NEWELL BRANDS INC | COM | 651229106 | BBG001S5TSW7 | 486000 | 90000 | PRN | Call | SOLE |  | 0 | 0 | 90000 |
| NEWMONT CORP | COM | 651639106 | BBG001S5TKX3 | 14559645 | 249908 | SH |  | SOLE |  | 0 | 0 | 249908 |
| NEXTERA ENERGY INC | COM | 65339F101 | BBG001S5RB29 | 4081783 | 58798 | SH |  | SOLE |  | 0 | 0 | 58798 |
| NORFOLK SOUTHN CORP | COM | 655844108 | BBG001S5TQJ6 | 875418 | 3420 | SH |  | SOLE |  | 0 | 0 | 3420 |
| NUTRIEN LTD | COM | 67077M108 | BBG00JM9SM69 | 815360 | 14000 | SH |  | SOLE |  | 0 | 0 | 14000 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 1038317 | 6572 | SH |  | SOLE |  | 0 | 0 | 6572 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | BBG001T53796 | 5231280 | 38375 | SH |  | SOLE |  | 0 | 0 | 38375 |
| PAN AMERN SILVER CORP | COM | 697900108 | BBG001S5ZXR5 | 24596748 | 866083 | SH |  | SOLE |  | 0 | 0 | 866083 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXW5 | 280187 | 3770 | SH |  | SOLE |  | 0 | 0 | 3770 |
| PERMIAN BASIN RTY TR | UNIT BEN INT | 714236106 | BBG001S5V1N3 | 311500 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 816321 | 33677 | SH |  | SOLE |  | 0 | 0 | 33677 |
| PLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 726503105 | BBG001S985K5 | 296312 | 16174 | SH |  | SOLE |  | 0 | 0 | 16174 |
| PROSHARES TR | SHRT 20+YR TRE | 74347X849 | BBG001T5DR19 | 1152692 | 47691 | SH |  | SOLE |  | 0 | 0 | 47691 |
| QUALCOMM INC | COM | 747525103 | BBG001S6VS70 | 651342 | 4090 | SH |  | SOLE |  | 0 | 0 | 4090 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 1949367 | 13350 | SH |  | SOLE |  | 0 | 0 | 13350 |
| SALESFORCE INC | COM | 79466L302 | BBG001SDLP09 | 782075 | 2868 | SH |  | SOLE |  | 0 | 0 | 2868 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 | BBG0025RWLM4 | 1576460 | 59489 | SH |  | SOLE |  | 0 | 0 | 59489 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 | BBG001T66WN0 | 645775 | 22108 | SH |  | SOLE |  | 0 | 0 | 22108 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 | BBG001S7T1S7 | 3322251 | 39173 | SH |  | SOLE |  | 0 | 0 | 39173 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | BBG001S7T223 | 225872 | 4313 | SH |  | SOLE |  | 0 | 0 | 4313 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 | BBG001S7T232 | 1431646 | 9705 | SH |  | SOLE |  | 0 | 0 | 9705 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | BBG001S7TCZ5 | 2302240 | 9091 | SH |  | SOLE |  | 0 | 0 | 9091 |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 | BBG00RRGP4W4 | 361000 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 401900 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| SOUTHERN COPPER CORP | COM | 84265V105 | BBG001S6ZM88 | 525882 | 5198 | SH |  | SOLE |  | 0 | 0 | 5198 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 697756 | 2289 | SH |  | SOLE |  | 0 | 0 | 2289 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 588999 | 953 | SH |  | SOLE |  | 0 | 0 | 953 |
| SPDR SERIES TRUST | OILGAS EQUIP | 78468R549 | BBG001SMG9M7 | 554952 | 8748 | SH |  | SOLE |  | 0 | 0 | 8748 |
| SPDR SERIES TRUST | PORTFOLI S | 78464A805 | BBG001SG6843 | 2636478 | 35205 | SH |  | SOLE |  | 0 | 0 | 35205 |
| SPINNAKER ETF SERIES | SELECT STOXX EUR | 84858T772 | BBG01Q6GGV58 | 1968201 | 45613 | SH |  | SOLE |  | 0 | 0 | 45613 |
| SPROTT PHYSICAL GOLD  SILVE | TR UNIT | 85208R101 | BBG00JPZ8T56 | 1927574 | 64039 | SH |  | SOLE |  | 0 | 0 | 64039 |
| SPROTT PHYSICAL GOLD TR | UNIT | 85207H104 | BBG001T66XM9 | 923678 | 36437 | SH |  | SOLE |  | 0 | 0 | 36437 |
| SPROTT PHYSICAL SILVER TR | TR UNIT | 85207K107 | BBG001T96GD0 | 5102404 | 416863 | SH |  | SOLE |  | 0 | 0 | 416863 |
| SSGA ACTIVE TR | SPDR SSGA FXD | 78470P507 | BBG00NS9WHL3 | 209279 | 8099 | SH |  | SOLE |  | 0 | 0 | 8099 |
| TARGET CORP | COM | 87612E106 | BBG001SC0K41 | 6418188 | 65060 | SH |  | SOLE |  | 0 | 0 | 65060 |
| TARGET CORP | COM | 87612E106 | BBG001SC0K41 | 493250 | 5000 | PRN | Call | SOLE |  | 0 | 0 | 5000 |
| TERADYNE INC | COM | 880770102 | BBG001S5WMZ3 | 715299 | 7955 | SH |  | SOLE |  | 0 | 0 | 7955 |
| TESLA INC | COM | 88160R101 | BBG001SQKGD7 | 18777412 | 59112 | SH |  | SOLE |  | 0 | 0 | 59112 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 | BBG001S62NT9 | 11279967 | 673029 | SH |  | SOLE |  | 0 | 0 | 673029 |
| THEMES ETF TR | TRANSATLANTIC DE | 882927767 | BBG01Q8CW796 | 375795 | 10500 | SH |  | SOLE |  | 0 | 0 | 10500 |
| TRUST FOR PROFESSIONAL MANAG | ACTIVEPASSIVE CR | 89834G752 | BBG01GHCZJ53 | 546166 | 18427 | SH |  | SOLE |  | 0 | 0 | 18427 |
| TRUST FOR PROFESSIONAL MANAG | ACTIVEPASSIVE EQ | 89834G737 | BBG01GHDT6Z3 | 668266 | 20056 | SH |  | SOLE |  | 0 | 0 | 20056 |
| TRUST FOR PROFESSIONAL MANAG | ACTIVEPASSIVE MN | 89834G745 | BBG01GHD8LS1 | 476314 | 19214 | SH |  | SOLE |  | 0 | 0 | 19214 |
| TRUST FOR PROFESSIONAL MANAG | ACTIVEPASSIVE US | 89834G729 | BBG01GHDLV59 | 1374916 | 36563 | SH |  | SOLE |  | 0 | 0 | 36563 |
| TRX GOLD CORPORATION | COM | 87283P109 | BBG001S7K614 | 79892 | 238483 | SH |  | SOLE |  | 0 | 0 | 238483 |
| URANIUM ENERGY CORP | COM | 916896103 | BBG001SK6158 | 204000 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | BBG001T60G06 | 8686532 | 128518 | SH |  | SOLE |  | 0 | 0 | 128518 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 35474183 | 62451 | SH |  | SOLE |  | 0 | 0 | 62451 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 | BBG00L2B8LM7 | 256820 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| VISTRA CORP | COM | 92840M102 | BBG00DXDL6R0 | 853955 | 4406 | SH |  | SOLE |  | 0 | 0 | 4406 |
| VOLATILITY SHS TR | 2X BITCOIN STRAT | 92864M301 | BBG01GXLYNB0 | 1669218 | 30900 | SH |  | SOLE |  | 0 | 0 | 30900 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 | BBG001S5XBY7 | 143500 | 12500 | SH |  | SOLE |  | 0 | 0 | 12500 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 367366 | 3757 | SH |  | SOLE |  | 0 | 0 | 3757 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 | BBG001S6DSP0 | 7215379 | 80349 | SH |  | SOLE |  | 0 | 0 | 80349 |
| WHIRLPOOL CORP | COM | 963320106 | BBG001S5XFS5 | 9782219 | 96453 | SH |  | SOLE |  | 0 | 0 | 96453 |
| WISDOMTREE TR | US HIGH DIVIDEND | 97717W208 | BBG001SHKNX0 | 213223 | 2222 | SH |  | SOLE |  | 0 | 0 | 2222 |

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