# EDGAR Filing Document

**Accession Number:** 0001438893
**File Stem:** 0001752724-25-212159
**Filing Date:** 2025-8
**Character Count:** 99847
**Document Hash:** d3f8b3e0d665d6963fa16f43ec283840
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212159.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212159

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GAMCO Natural Resources, Gold & Income Trust
- **CENTRAL INDEX KEY:** 0001438893

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22216
- **FILM NUMBER:** 251276648

**BUSINESS ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 914-921-5100

**MAIL ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GAMCO Natural Resources, Gold & Income Trust by Gabelli
- **DATE OF NAME CHANGE:** 20120106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Gabelli Natural Resources, Gold & Income Trust
- **DATE OF NAME CHANGE:** 20080717

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Gabelli Gold & Income Trust
- **DATE OF NAME CHANGE:** 20080630

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** GAMCO Natural Resources, Gold & Income Trust

- **b. Investment Company Act file number:** 811-22216

- **c. CIK number of Registrant:** 0001438893

- **d. LEI of Registrant:** 23EBEGZ81713Q1VCP222

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

  - **Street Address 1:** One Corporate Center

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580-1422

  - **Telephone number:** 1-800-422-3554

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

- **a. Name of Series:** GAMCO Natural Resources, Gold & Income Trust

- **c. LEI of Series:** 23EBEGZ81713Q1VCP222

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $151566365.09

**Total Liabilities:** $39191705.01

**Net Assets:** $112374660.08

**Cash Not Reported:** $2411538.94

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 139.04152000 | **5-Year:** 1854.97048000 | **10-Year:** 478.56180000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 20.39780000 | **1-Year:** 203.23695000 | **5-Year:** 106.07565000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | -1.81%               | 5.05%                | 2.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1729600.31              | $-1708480.58                               |
| Month 2  | $-412170.05              | $4398171.24                                |
| Month 3  | $-2069213.65             | $3388001.19                                |

**Designated Index Information**

- **Index Name:** GAMCO Natural Resources Gold & Income Trust ex Derivatives

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Franco-Nevada Corp                       | Franco-Nevada Corp             | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |     13500 | NS      | $2212920.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp                       | Eldorado Gold Corp             | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |     63200 | NS      | $1285488.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                            | Mosaic Co/The                  | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     29700 | NS      | $1083456.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | SUNCOR ENERGY INC              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -35 | NC      | $-3693.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | IAMGOLD CORP                   | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -260 | NC      | $-32490.38    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | FRANCO-NEVADA CORP             | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |       -42 | NC      | $-30660.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | SHELL PLC                      | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -31 | NC      | $-14446.02    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | SUNCOR ENERGY INC              | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |       -35 | NC      | $-1869.18     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | DUNDEE PRECIOUS METALS INC     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -350 | NC      | $-74458.72    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | CF INDUSTRIES HOLDINGS INC     | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -71 | NC      | $-40860.96    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | OCEANAGOLD CORP                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -970 | NC      | $-883290.44   | -0.79%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ELANCO ANIMAL HEALTH INC       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -135 | NC      | $-7425.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | EQUINOX GOLD CORP              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -480 | NC      | $-10102.46    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | ZOETIS INC                     | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-22584.59    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | MOWI ASA                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -130 | NC      | $-11646.05    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BMO NESBITT BURNS INC.                   | ORLA MINING LTD                | CUSIP: 000000000<br>LEI: M3LKFDNSJGJ7TMLH6Z15 | N/A              | DE               | CORP              | CA        |      -333 | NC      | $-21842.57    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | K92 MINING INC                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -542 | NC      | $-69533.61    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | KINDER MORGAN INC              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -132 | NC      | $-22895.86    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | FRANCO-NEVADA CORP             | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -48 | NC      | $-165012.10   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| Yara International ASA                   | Yara International ASA         | CUSIP: 000000000<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | EC               | CORP              | NO        |      8900 | NS      | $328471.93    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | GOLD FIELDS LTD                | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -56 | NC      | $-21159.13    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Zoetis Inc                               | Zoetis Inc                     | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     18200 | NS      | $2838290.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co                | Archer-Daniels-Midland Co      | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     39200 | NS      | $2068976.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                        | EOG Resources Inc              | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      9900 | NS      | $1184139.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                           | ConocoPhillips                 | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     11200 | NS      | $1005088.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                              | Nutrien Ltd                    | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     46400 | NS      | $2702336.00   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | BARRICK MINING CORP            | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -395 | NC      | $-17763.47    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | CHEVRON CORP                   | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |       -51 | NC      | $-370.23      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | ENDEAVOUR MINING PLC           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -310 | NC      | $-119835.29   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Coterra Energy Inc                       | Coterra Energy Inc             | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     12900 | NS      | $327402.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | KINROSS GOLD CORP              | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |      -470 | NC      | $-93465.28    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                     | Freeport-McMoRan Inc           | CUSIP: 35671DCE3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740211.90    | 0.66%             | 2028-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | ARCHER-DANIELS-MIDLAND CO      | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |      -112 | NC      | $-37850.16    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | MOSAIC CO/THE                  | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -125 | NC      | $-15407.53    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | BAKER HUGHES CO                | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-11160.61    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Toro Co/The                              | Toro Co/The                    | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      9000 | NS      | $636120.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                           | Halliburton Co                 | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     16200 | NS      | $330156.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC                       | MOSAIC CO/THE                  | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |      -125 | NC      | $-12683.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.           | PHILLIPS 66                    | CUSIP: 000000000<br>LEI: 549300HOF34RGOJ5YL07 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-78.93       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                   | AngloGold Ashanti Holdings PLC | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    750000 | PA      | $700329.32    | 0.62%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Anglogold Ashanti Plc                    | Anglogold Ashanti Plc          | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     43256 | NS      | $1971175.92   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | SHELL PLC                      | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -90 | NC      | $-20315.37    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| APA Corp                                 | APA Corp                       | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |      6800 | NS      | $124372.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                                | AGCO Corp                      | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |      6600 | NS      | $680856.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                         | TotalEnergies SE               | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     20800 | NS      | $1276912.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill    | CUSIP: 912797PP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4300000 | PA      | $4273839.32   | 3.80%             | 2025-08-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NASDAQ, INC.                             | DARLING INGREDIENTS INC        | CUSIP: 000000000<br>LEI: 549300L8X1Q78ERXFD06 | N/A              | DE               | CORP              | US        |       -45 | NC      | $-16650.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | EXXON MOBIL CORP               | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -62 | NC      | $-39811.24    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | VANECK GOLD MINERS ETF/USA     | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -546 | NC      | $-26208.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION                 | Devon Energy Corp              | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79190.67     | 0.07%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | AGCO CORP                      | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -26 | NC      | $-32777.83    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENDEAVOUR MINING PLC           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -310 | NC      | $-53913.23    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Kinder Morgan Inc                        | Kinder Morgan Inc              | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     40600 | NS      | $1193640.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | HESS CORP                      | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -10 | NC      | $-8554.89     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK Inc                                | ONEOK Inc                      | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     11500 | NS      | $938745.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | TOTALENERGIES SE               | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -71 | NC      | $-16854.51    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | G MINING VENTURES CORP         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -285 | NC      | $-2012.36     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.           | ZOETIS INC                     | CUSIP: 000000000<br>LEI: 549300HOF34RGOJ5YL07 | N/A              | DE               | CORP              | US        |       -61 | NC      | $-274.78      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | DEVON ENERGY CORP              | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-3575.47     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Victoria Gold Corp/Vancouver             | Victoria Gold Corp/Vancouver   | CUSIP: 92625W507<br>LEI: 9845005Q1367V3D4N057 | Long             | EC               | CORP              | CA        |     73000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | VALERO ENERGY CORP             | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -19 | NC      | $-11510.74    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | AGCO CORP                      | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-11696.81    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Gold Road Resources Ltd                  | Gold Road Resources Ltd        | CUSIP: 000000000<br>LEI: 213800HJWH96TDEMNY83 | Long             | EC               | CORP              | AU        |    307206 | NS      | $661153.55    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | MOSAIC CO/THE                  | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -47 | NC      | $-30726.55    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | WHEATON PRECIOUS METALS CORP   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |      -131 | NC      | $-82770.24    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Wesdome Gold Mines Ltd                   | Wesdome Gold Mines Ltd         | CUSIP: 95083R100<br>LEI: 254900D63U62QS84H719 | Long             | EC               | CORP              | CA        |     92500 | NS      | $1288580.87   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ENERGY SELECT SECTOR SPDR FUND | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -290 | NC      | $-10730.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | APA CORP                       | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -68 | NC      | $-50.78       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SCOTIA CAPITAL (USA) INC.                | ANGLOGOLD ASHANTI PLC          | CUSIP: 000000000<br>LEI: 549300BLWPABP1VNME36 | N/A              | DE               | CORP              | US        |       -56 | NC      | $-31206.69    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | DUNDEE PRECIOUS METALS INC     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -210 | NC      | $-49148.84    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | BAKER HUGHES CO                | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-1734.44     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Artemis Gold Inc                         | Artemis Gold Inc               | CUSIP: 04302L100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     70000 | NS      | $1273288.05   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | WESDOME GOLD MINES LTD         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -285 | NC      | $-49526.52    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | BHP GROUP LTD                  | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |      -170 | NC      | $-9793.34     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | KINROSS GOLD CORP              | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |      -915 | NC      | $-137669.89   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| K92 Mining Inc                           | K92 Mining Inc                 | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    147200 | NS      | $1660357.63   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | PAN AMERICAN SILVER CORP       | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -100 | NC      | $-8894.73     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                  | Marathon Petroleum Corp        | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      6100 | NS      | $1013271.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| SCOTIA CAPITAL (USA) INC.                | VANECK GOLD MINERS ETF/USA     | CUSIP: 000000000<br>LEI: 549300BLWPABP1VNME36 | N/A              | DE               | CORP              | US        |      -600 | NC      | $-32287.14    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | CHEVRON CORP                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -55 | NC      | $-26570.74    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | ANGLOGOLD ASHANTI PLC          | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-52509.04    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| CNH Industrial NV                        | CNH Industrial NV              | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |     72500 | NS      | $939600.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | MOWI ASA                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -250 | NC      | $-6724.22     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | TOTALENERGIES SE               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -66 | NC      | $-6826.24     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | TORO CO/THE                    | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -45 | NC      | $-11207.44    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos Inc/The                     | Williams Cos Inc/The           | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     22000 | NS      | $1381820.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | HALLIBURTON CO                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-252.60      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OCEANAGOLD CORP                          | OCEANAGOLD CORP                | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |     64667 | NS      | $912717.70    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd                     | Evolution Mining Ltd           | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |    275582 | NS      | $1412905.74   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp                     | Targa Resources Corp           | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      4200 | NS      | $731136.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SCOTIA CAPITAL (USA) INC.                | ANGLOGOLD ASHANTI PLC          | CUSIP: 000000000<br>LEI: 549300BLWPABP1VNME36 | N/A              | DE               | CORP              | US        |      -134 | NC      | $-60256.52    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | ONEOK INC                      | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -47 | NC      | $-876.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Elanco Animal Health Inc                 | Elanco Animal Health Inc       | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |     27000 | NS      | $385560.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | KINROSS GOLD CORP              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -470 | NC      | $-93465.28    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| FBN SECURITIES, INC.                     | VALERO ENERGY CORP             | CUSIP: 000000000<br>LEI: 549300IZFVXL9ZPJFM37 | N/A              | DE               | CORP              | US        |       -19 | NC      | $-16588.64    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | EXPAND ENERGY CORP             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-8665.63     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | SCHLUMBERGER NV                | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -85 | NC      | $-2151.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | ALAMOS GOLD INC                | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -339 | NC      | $-68817.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | RIO TINTO PLC                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -155 | NC      | $-9723.26     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SCOTIA CAPITAL (USA) INC.                | ALAMOS GOLD INC                | CUSIP: 000000000<br>LEI: 549300BLWPABP1VNME36 | N/A              | DE               | CORP              | US        |      -380 | NC      | $-196088.28   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | BHP GROUP LTD                  | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -203 | NC      | $-23624.27    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Newmont Corp                             | Newmont Corp                   | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     85500 | NS      | $4981230.00   | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | ARCHER-DANIELS-MIDLAND CO      | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |      -130 | NC      | $-44067.44    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| NASDAQ, INC.                             | DARLING INGREDIENTS INC        | CUSIP: 000000000<br>LEI: 549300L8X1Q78ERXFD06 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-11550.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                | Shell PLC                      | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     29400 | NS      | $2070054.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | ONEOK INC                      | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -38 | NC      | $-12852.82    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | NEWMONT CORP                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -80 | NC      | $-21552.63    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Gold Inc                           | Royal Gold Inc                 | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      8800 | NS      | $1564992.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | OCEANAGOLD CORP                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -970 | NC      | $-872441.76   | -0.78%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | CORTEVA INC                    | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |      -155 | NC      | $-179804.77   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC                       | CONOCOPHILLIPS                 | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |       -31 | NC      | $-8539.29     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bellevue Gold Ltd                        | Bellevue Gold Ltd              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    636965 | NS      | $377296.66    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill    | CUSIP: 912797PX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7750000 | PA      | $7678345.52   | 6.83%             | 2025-09-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | EQT CORP                       | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -38 | NC      | $-33898.30    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | NEWMONT CORP                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -261 | NC      | $-75230.35    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | KINROSS GOLD CORP              | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |     -1090 | NC      | $-105800.85   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | FREEPORT-MCMORAN INC           | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |      -226 | NC      | $-85388.20    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.           | NUTRIEN LTD                    | CUSIP: 000000000<br>LEI: 549300HOF34RGOJ5YL07 | N/A              | DE               | CORP              | US        |      -130 | NC      | $-18227.76    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | WILLIAMS COS INC/THE           | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -80 | NC      | $-31771.93    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | FMC CORP                       | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-21047.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | PAN AMERICAN SILVER CORP       | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |       -58 | NC      | $-18505.08    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | CHEVRON CORP                   | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -40 | NC      | $-7798.03     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | PHILLIPS 66                    | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -25 | NC      | $-6459.47     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | AGNICO EAGLE MINES LTD         | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -30 | NC      | $-19829.58    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd                   | Agnico Eagle Mines Ltd         | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      6700 | NS      | $796831.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | IAMGOLD CORP                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -300 | NC      | $-27000.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | NEWMONT CORP                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -163 | NC      | $-34882.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | EQT CORP                       | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -47 | NC      | $-48249.74    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | DUNDEE PRECIOUS METALS INC     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -450 | NC      | $-116989.99   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Baker Hughes Co                          | Baker Hughes Co                | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16700 | NS      | $640278.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | LUNDIN GOLD INC                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -170 | NC      | $-74582.22    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | TYSON FOODS INC                | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |       -24 | NC      | $-3519.42     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Valero Energy Corp                       | Valero Energy Corp             | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      5800 | NS      | $779636.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ZOETIS INC                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -61 | NC      | $-28670.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Bayer AG                                 | Bayer AG                       | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |     60000 | NS      | $1804737.20   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp                                 | FMC Corp                       | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |      6500 | NS      | $271375.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                              | Phillips 66                    | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      7400 | NS      | $882820.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | IAMGOLD CORP                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -320 | NC      | $-16000.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | PAN AMERICAN SILVER CORP       | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -46 | NC      | $-18240.82    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | HALLIBURTON CO                 | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-3041.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | ARCHER-DANIELS-MIDLAND CO      | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -150 | NC      | $-30942.50    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | EOG RESOURCES INC              | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -30 | NC      | $-12696.45    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | DEERE & CO                     | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-125938.05   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | SHELL PLC                      | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -90 | NC      | $-29940.89    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | CNH INDUSTRIAL NV              | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |      -320 | NC      | $-20767.55    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                          | Gold Fields Ltd                | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     31500 | NS      | $745605.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| HECLA MINING CO                          | Hecla Mining Co                | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    675000 | PA      | $680771.93    | 0.61%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Schlumberger NV                          | Schlumberger NV                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     24700 | NS      | $834860.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | TYSON FOODS INC                | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -49 | NC      | $-5.37        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Darling Ingredients Inc                  | Darling Ingredients Inc        | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     18500 | NS      | $701890.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | PAN AMERICAN SILVER CORP       | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -94 | NC      | $-14523.64    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | AGCO CORP                      | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-11287.61    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | DEERE & CO                     | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -25 | NC      | $-149249.87   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | SUNCOR ENERGY INC              | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -35 | NC      | $-4977.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Aris Mining Corp                         | Aris Mining Corp               | CUSIP: 04040Y109<br>LEI: 5493001GJ5TILX6L1F82 | Long             | EC               | CORP              | CA        |     27500 | NS      | $185184.51    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc                     | Freeport-McMoRan Inc           | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     68000 | NS      | $2947800.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | BUNGE GLOBAL SA                | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-10099.75    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | NUTRIEN LTD                    | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |      -180 | NC      | $-9166.09     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Devon Energy Corp                        | Devon Energy Corp              | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     10000 | NS      | $318100.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | ONEOK INC                      | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -30 | NC      | $-3807.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Lundin Gold Inc                          | Lundin Gold Inc                | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |     50500 | NS      | $2666385.17   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                   | BP PLC                         | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     23200 | NS      | $694376.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | FREEPORT-MCMORAN INC           | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -227 | NC      | $-109628.29   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | EXXON MOBIL CORP               | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -10 | NC      | $-59.70       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | GLENCORE PLC                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -36 | NC      | $-3610.78     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | CONOCOPHILLIPS                 | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -41 | NC      | $-35.81       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | VALERO ENERGY CORP             | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-10153.94    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Eni SpA                                  | Eni SpA                        | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     33000 | NS      | $534883.54    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENI SPA                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -18 | NC      | $-1089.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| IAMGOLD Corp                             | IAMGOLD Corp                   | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |     88000 | NS      | $646800.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | TYSON FOODS INC                | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -106 | NC      | $-11628.47    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | ORLA MINING LTD                | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |      -295 | NC      | $-21519.93    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | K92 MINING INC                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -450 | NC      | $-94706.14    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Equinox Gold Corp                        | Equinox Gold Corp              | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |     98245 | NS      | $567068.62    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill    | CUSIP: 912797PQ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    370000 | PA      | $367424.80    | 0.33%             | 2025-08-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | EXXON MOBIL CORP               | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |      -120 | NC      | $-38247.83    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc                   | Diamondback Energy Inc         | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      3500 | NS      | $480900.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | SHELL PLC                      | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -71 | NC      | $-25097.44    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Mowi ASA                                 | Mowi ASA                       | CUSIP: 000000000<br>LEI: 549300W1OGQF5LZIH349 | Long             | EC               | CORP              | NO        |     63000 | NS      | $1216322.40   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | ROYAL GOLD INC                 | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -25 | NC      | $-8070.91     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENERGY SELECT SECTOR SPDR FUND | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -275 | NC      | $-90200.00    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Deere & Co                               | Deere & Co                     | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      6600 | NS      | $3356034.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | WHEATON PRECIOUS METALS CORP   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |      -118 | NC      | $-64092.28    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC                       | EOG RESOURCES INC              | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |       -36 | NC      | $-16892.67    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | CHEVRON CORP                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -34 | NC      | $-25622.65    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                        | Kinross Gold Corp              | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |    294500 | NS      | $4603035.00   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | KINDER MORGAN INC              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -137 | NC      | $-18767.22    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | RIO TINTO PLC                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -150 | NC      | $-9289.16     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ALLIED GOLD CORP                         | Allied Gold Corp               | CUSIP: 01921DAA3<br>LEI: 894500S5G4JFSRGK8L37 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $675000.00    | 0.60%             | 2028-09-07      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Expand Energy Corp                       | Expand Energy Corp             | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      4400 | NS      | $514536.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                        | Suncor Energy Inc              | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     10500 | NS      | $393225.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                             | Chevron Corp                   | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18000 | NS      | $2577420.00   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | ALAMOS GOLD INC                | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -188 | NC      | $-19740.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | WILLIAMS COS INC/THE           | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -66 | NC      | $-46027.40    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | MARATHON PETROLEUM CORP        | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -21 | NC      | $-24196.31    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Bunge Global SA                          | Bunge Global SA                | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | US        |     15000 | NS      | $1204200.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | EXXON MOBIL CORP               | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |      -120 | NC      | $-716.39      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | PHILLIPS 66                    | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -27 | NC      | $-10018.36    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC                       | DIAMONDBACK ENERGY INC         | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |       -11 | NC      | $-3609.25     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | MOWI ASA                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -250 | NC      | $-17838.56    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | HESS CORP                      | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |       -10 | NC      | $-6816.04     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Equinox Gold Corp                        | Equinox Gold Corp              | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |     56600 | NS      | $325450.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | CORTEVA INC                    | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |      -132 | NC      | $-108656.49   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | MARATHON PETROLEUM CORP        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -19 | NC      | $-28105.88    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | GOLD FIELDS LTD                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -140 | NC      | $-35355.11    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | TARGA RESOURCES CORP           | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -16 | NC      | $-15536.45    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | TARGA RESOURCES CORP           | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-7265.73     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | CORTEVA INC                    | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -160 | NC      | $-83200.00    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | WESDOME GOLD MINES LTD         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -340 | NC      | $-53998.64    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | COTERRA ENERGY INC             | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-6553.09     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | EQT CORP                       | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -40 | NC      | $-20956.44    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | AGNICO EAGLE MINES LTD         | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -37 | NC      | $-44360.19    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                             | Glencore PLC                   | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | CH        |     71000 | NS      | $276391.31    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | OCCIDENTAL PETROLEUM CORP      | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-10.43       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | BUNGE GLOBAL SA                | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-12931.83    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | BP PLC                         | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -41 | NC      | $-1690.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | EXXON MOBIL CORP               | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -133 | NC      | $-12391.96    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | ELDORADO GOLD CORP             | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |      -325 | NC      | $-33205.38    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | EOG RESOURCES INC              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -33 | NC      | $-361.84      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Alamos Gold Inc                          | Alamos Gold Inc                | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    104800 | NS      | $2783488.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Select Sector SPDR Fund           | Energy Select Sector SPDR Fund | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Short            | EC               | RF                | US        |    -15600 | NS      | $-1323036.00  | -1.18%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENI SPA                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-4238.29     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | SCHLUMBERGER NV                | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -84 | NC      | $-0.89        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | BAKER HUGHES CO                | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -47 | NC      | $-33.31       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC                       | CF INDUSTRIES HOLDINGS INC     | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-22517.75    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | HALLIBURTON CO                 | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -52 | NC      | $-1320.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ENERGY SELECT SECTOR SPDR FUND | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -290 | NC      | $-27550.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | DEERE & CO                     | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |       -19 | NC      | $-70585.39    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Hess Corp                                | Hess Corp                      | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |      2900 | NS      | $401766.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| KINROSS GOLD CORP                        | Kinross Gold Corp              | CUSIP: 496902AR8<br>LEI: 549300UEBMAQDN0K0R06 | Long             | DBT              | CORP              | CA        |   1300000 | PA      | $1398482.22   | 1.24%             | 2033-07-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | CONOCOPHILLIPS                 | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -40 | NC      | $-2963.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC                       | TYSON FOODS INC                | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |       -57 | NC      | $-142.53      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | EXPAND ENERGY CORP             | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-4419.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barrick Mining Corp                      | Barrick Mining Corp            | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     81800 | NS      | $1703076.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill    | CUSIP: 912797PY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    130000 | PA      | $128697.10    | 0.11%             | 2025-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | TYSON FOODS INC                | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |      -120 | NC      | $-14044.33    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | BUNGE GLOBAL SA                | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-19950.43    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | NUTRIEN LTD                    | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -154 | NC      | $-33788.05    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| NORTHERN STAR RESOU                      | Northern Star Resources Ltd    | CUSIP: 66573RAA6<br>LEI: 254900XFXCRYYZAX6M78 | Long             | DBT              | CORP              | AU        |   1750000 | PA      | $1825589.31   | 1.62%             | 2033-04-11      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | BP PLC                         | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -76 | NC      | $-2150.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | CNH INDUSTRIAL NV              | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |      -405 | NC      | $-34885.77    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | COTERRA ENERGY INC             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -69 | NC      | $-61.71       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd              | Northern Star Resources Ltd    | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |    369716 | NS      | $4513745.26   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | HESS CORP                      | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |        -9 | NC      | $-863.10      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | WHEATON PRECIOUS METALS CORP   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -135 | NC      | $-127651.11   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | DIAMONDBACK ENERGY INC         | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -10 | NC      | $-2672.86     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | DIAMONDBACK ENERGY INC         | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -14 | NC      | $-334.51      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENI SPA                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -28 | NC      | $-6858.95     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | TOTALENERGIES SE               | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -71 | NC      | $-4237.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | TARGA RESOURCES CORP           | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-133.06      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tyson Foods Inc                          | Tyson Foods Inc                | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     35600 | NS      | $1991464.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Perseus Mining Ltd                       | Perseus Mining Ltd             | CUSIP: 000000000<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |    957915 | NS      | $2143535.97   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Orla Mining Ltd                          | Orla Mining Ltd                | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Long             | EC               | CORP              | CA        |     62800 | NS      | $629256.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | MARATHON PETROLEUM CORP        | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -21 | NC      | $-15216.59    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | NEWMONT CORP                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -275 | NC      | $-88973.14    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| FBN SECURITIES, INC.                     | DEVON ENERGY CORP              | CUSIP: 000000000<br>LEI: 549300IZFVXL9ZPJFM37 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-3335.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | ENDEAVOUR MINING PLC           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -305 | NC      | $-41386.47    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                         | Exxon Mobil Corp               | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     44407 | NS      | $4787074.60   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp             | Wheaton Precious Metals Corp   | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     38450 | NS      | $3452810.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp                 | Pan American Silver Corp       | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     29800 | NS      | $846320.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | BHP GROUP LTD                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -160 | NC      | $-1111.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                            | BHP Group Ltd                  | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     53300 | NS      | $2563197.00   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | DARLING INGREDIENTS INC        | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-24304.06    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | RIO TINTO PLC                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |      -158 | NC      | $-31956.83    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                            | Rio Tinto PLC                  | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     46300 | NS      | $2700679.00   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | OCCIDENTAL PETROLEUM CORP      | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -27 | NC      | $-2901.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp                                 | EQT Corp                       | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     12500 | NS      | $729000.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Select Sector SPDR Fund           | Energy Select Sector SPDR Fund | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |     15600 | NS      | $1323036.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | WESDOME GOLD MINES LTD         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -300 | NC      | $-30761.84    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | OCCIDENTAL PETROLEUM CORP      | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-574.45      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | FREEPORT-MCMORAN INC           | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |      -227 | NC      | $-36302.18    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | VANECK GOLD MINERS ETF/USA     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -605 | NC      | $-25277.08    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | BP PLC                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -35 | NC      | $-2562.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | SCHLUMBERGER NV                | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -79 | NC      | $-3943.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Discovery Silver Corp                    | Discovery Silver Corp          | CUSIP: 254677107<br>LEI: 98450041CCB3E8QD3F53 | Long             | EC               | CORP              | CA        |    199000 | NS      | $435483.75    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | FRANCO-NEVADA CORP             | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |       -45 | NC      | $-51019.18    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | K92 MINING INC                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -480 | NC      | $-15625.63    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Dundee Precious Metals Inc               | Dundee Precious Metals Inc     | CUSIP: 265269209<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    101000 | NS      | $1622823.57   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Westgold Resources Ltd                   | Westgold Resources Ltd         | CUSIP: 000000000<br>LEI: 2549003AMX9BL7CKBQ74 | Long             | EC               | CORP              | AU        |    712417 | NS      | $1345677.70   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                | Occidental Petroleum Corp      | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      6700 | NS      | $281467.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining PLC                     | Endeavour Mining PLC           | CUSIP: 000000000<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |     92585 | NS      | $2854888.31   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | WILLIAMS COS INC/THE           | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -78 | NC      | $-45414.58    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill    | CUSIP: 912797QR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $4918596.55   | 4.38%             | 2025-11-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | BARRICK MINING CORP            | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |       -93 | NC      | $-7342.57     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| G Mining Ventures Corp                   | G Mining Ventures Corp         | CUSIP: 36270K102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     79450 | NS      | $1037357.08   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                              | Corteva Inc                    | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     45700 | NS      | $3406021.00   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc               | CF Industries Holdings Inc     | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     19655 | NS      | $1808260.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | LUNDIN GOLD INC                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -155 | NC      | $-349428.29   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill    | CUSIP: 912797PN1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6963228.23   | 6.20%             | 2025-08-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | TORO CO/THE                    | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -45 | NC      | $-9039.46     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | KINDER MORGAN INC              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -137 | NC      | $-33480.85    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | GOLD FIELDS LTD                | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -105 | NC      | $-12223.67    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | BARRICK MINING CORP            | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |      -330 | NC      | $-17725.92    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | G MINING VENTURES CORP         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -285 | NC      | $-4314.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Aya Gold & Silver Inc                    | Aya Gold & Silver Inc          | CUSIP: 05466C109<br>LEI: 549300BWX8KJOTUL4M51 | Long             | EC               | CORP              | CA        |     24000 | NS      | $215898.66    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | CF INDUSTRIES HOLDINGS INC     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-47250.11    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| IAMGOLD CORP                             | IAMGOLD Corp                   | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $495775.30    | 0.44%             | 2028-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** GAMCO Natural Resources, Gold & Income Trust

**Signature:** John C. Ball

**Name of Signer:** John C. Ball

**Title:** Treasurer